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Changes in and Reclassifications From Accumulated Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2020

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Changes in and Reclassifications From Accumulated Other Comprehensive Income (Loss)

18. CHANGES IN AND RECLASSIFICATIONS FROM ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

Changes in AOCI, Net of Tax for the Year Ended December 31, 2020

			Changes in
			Net Unrealized Gain on Fixed Maturities			Unrealized loss on Fixed Maturities with ACL			Net Gain (Loss) on Cash Flow Hedging Instruments			Foreign Currency Translation Adjustments			Pension and Other Postretirement Plan Adjustments			AOCI, net of tax
Beginning balance			$	1,684		$	(3)		$	9		$	34		$	(1,672)		$	52
OCI before reclassifications			1,285			1			24			9			(92)			1,227
Amounts reclassified from AOCI			(135)			—			(21)			—			47			(109)
OCI, net of tax			1,150			1			3			9			(45)			1,118
Ending balance			$	2,834		$	(2)		$	12		$	43		$	(1,717)		$	1,170

Changes in AOCI, Net of Tax for the Year Ended December 31, 2019

			Changes in
			Net Unrealized Gain on Fixed Maturities			OTTI Losses in OCI			Net Gain (Loss) on Cash Flow Hedging Instruments			Foreign Currency Translation Adjustments			Pension and Other Postretirement Plan Adjustments			AOCI, net of tax
Beginning balance			$	24		$	(4)		$	(5)		$	30		$	(1,624)		$	(1,579)
OCI before reclassifications [2]			1,797			1			22			4			(82)			1,742
Amounts reclassified from AOCI			(137)			—			(8)			—			34			(111)
OCI, net of tax			1,660			1			14			4			(48)			1,631
Ending balance			$	1,684		$	(3)		$	9		$	34		$	(1,672)		$	52

Changes in AOCI, Net of Tax for the Year ended December 31, 2018

			Changes in
			Net Unrealized Gain on Fixed Maturities			OTTI Losses in OCI			Net Gain on Cash Flow Hedging Instruments			Foreign Currency Translation Adjustments			Pension and Other Postretirement Plan Adjustments			AOCI, net of tax
Beginning balance			$	1,931		$	(3)		$	18		$	34		$	(1,317)		$	663
Cumulative effect of accounting changes, net of tax [1]			273			—			2			4			(284)			(5)
Adjusted balance, beginning of period			$	2,204		$	(3)		$	20		$	38		$	(1,601)		$	658
OCI before reclassifications [2]			(2,245)			—			8			(8)			(61)			(2,306)
Amounts reclassified from AOCI			65			(1)			(33)			—			38			69
OCI, net of tax			(2,180)			(1)			(25)			(8)			(23)			(2,237)
Ending balance			$	24		$	(4)		$	(5)		$	30		$	(1,624)		$	(1,579)

[1]Includes reclassification to retained earnings of $88 of stranded tax effects and $93 of net unrealized gains, net of tax, related to equity securities. Refer to Note 1 - Basis of Presentation and Significant Accounting Policies.

[2]The reduction in AOCI included the effect of removing $758 of AOCI from the balance sheet when the life and annuity business was sold in May 2018.

Reclassifications from AOCI

AOCI			Amount Reclassified from AOCI									Affected Line Item in the Consolidated Statement of Operations
			For the year ended December 31, 2020			For the year ended December 31, 2019			For the year ended December 31, 2018
Net Unrealized Gain on Fixed Maturities
Fixed maturities, AFS			$	171		$	174		$	(80)		Net realized capital gains (losses)
			171			174			(80)			Total before tax
			36			37			(17)			Income tax expense
			—			—			(2)			Income from discontinued operations, net of tax
			$	135		$	137		$	(65)		Net income
Unrealized Loss on Fixed Maturities with ACL [1]
Fixed maturities, AFS			$	—		$	—		$	—		Net realized capital gains (losses)
			—			—			—			Total before tax
			—			—			—			Income tax expense
			—			—			1			Income from discontinued operations, net of tax
			$	—		$	—		$	1		Net income
Net Gains on Cash Flow Hedging Instruments
Interest rate swaps			$	—		$	2		$	6		Net realized capital gains (losses)
Interest rate swaps			29			4			30			Net investment income
Interest rate swaps			(7)			1			—			Interest expense
Foreign currency swaps			(1)			—			—			Net realized capital gains (losses)
Foreign currency swaps			5			3			—			Net investment income
			26			10			36			Total before tax
			5			2			8			Income tax expense
			—			—			5			Income from discontinued operations, net of tax
			$	21		$	8		$	33		Net income
Pension and Other Postretirement Plan Adjustments
Amortization of prior service credit			$	7		$	7		$	7		Insurance operating costs and other expenses
Amortization of actuarial loss			(67)			(50)			(55)			Insurance operating costs and other expenses
			(60)			(43)			(48)			Total before tax
			(13)			(9)			(10)			Income tax expense
			(47)			(34)			(38)			Net income
Total amounts reclassified from AOCI			$	109		$	111		$	(69)		Net income

[1] Prior to January 1, 2020, includes OTTI in OCI on fixed maturities, AFS. See Note 1 - Basis of Presentation and Significant Accounting Policies.

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- References

No definition available.

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- Definition

The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-URI http://asc.fasb.org/topic&trid=2134417

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

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