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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Income Tax Expense (Benefit)

Income Tax Expense (Benefit)

	For the years ended December 31,
	2018			2017			2016
Income Tax Expense (Benefit)
Current - U.S. Federal	$	(18	)	$	116		$	10
International	—			1			—
Total current	(18		)	117			10
Deferred - U.S. Federal	286			866			(173		)
International	—			2			(3		)
Total deferred	286			868			(176		)
Total income tax expense (benefit)	$	268		$	985		$	(166	)

Income Tax Rate Reconciliation

Income Tax Rate Reconciliation

	For the years ended December 31,
	2018			2017			2016
Tax provision at U.S. federal statutory rate [1]	$	368		$	253		$	157
Tax-exempt interest	(66		)	(123		)	(124		)
Decrease in deferred tax valuation allowance	—			—			(79		)
Executive Compensation	11			—			—
Stock-based compensation	(5		)	(15		)	—
Solar credits	—			—			(79		)
Sale of the U.K. property & casualty run-off subsidiaries and foreign rate differential	—			5			(37		)
Tax Reform	(39		)	877			—
Other	(1		)	(12		)	(4		)
Provision (benefit) for income taxes	$	268		$	985		$	(166	)

[1] Due to the passage of Tax Reform on December 22, 2017, current and prior period federal statutory rates are reflected at 21% and 35% respectively.

Deferred Tax Assets (Liabilities)

	As of December 31,
	2018			2017
Deferred Tax Assets
Loss reserves and tax discount	$	150		$	104
Unearned premium reserve and other underwriting related reserves	355			352
Investment-related items	183			194
Employee benefits	287			313
General business credit carryover	1			3
Net operating loss carryover	521			710
Foreign tax credit carryover	—			26
Other	—			1
Total Deferred Tax Assets	1,497			1,703
Deferred Tax Liabilities
Deferred acquisition costs	(104		)	(103		)
Net unrealized gains on investments	(7		)	(306		)
Other depreciable and amortizable assets	(135		)	(130		)
Other	(3		)	—
Total Deferred Tax Liabilities	(249		)	(539		)
Net Deferred Tax Asset	$	1,248		$	1,164

Roll-forward of Unrecognized Tax Benefits

Rollforward of Unrecognized Tax Benefits

	For the years ended December 31,
	2018			2017			2016
Balance, beginning of period	$	9		$	12		$	12
Gross increases - tax positions in prior period	5			3			—
Gross decreases - tax positions in prior period	—			—			—
Gross decreases - tax reform	—			(6		)	—
Balance, end of period	$	14		$	9		$	12

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Provision benefit for income taxes.

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of unrecognized tax benefits for which a material change is reasonably possible in the next twelve months, typically including the nature of the uncertainty, the event(s) that could cause a material change, and an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made. An unrecognized tax benefit is the difference between a tax position taken in a tax return and the amounts recognized in the financial statements for which it is more likely than not, based on the technical merits of the position, that the tax position will not be sustained upon examination.

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