v3.8.0.1

Segment Information (Tables) | 12 Months Ended
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Dec. 31, 2017
Segment Reporting [Abstract] |
Reconciliation of Operating Profit (Loss) from Segments to Consolidated | The table below reconciles adjusted operating income before income taxes to income before income taxes and equity in earnings of operating joint ventures:
|  | Year ended December 31,
|  | 2017 |  | 2016 |  | 2015
|  | (in millions)
Adjusted operating income before income taxes by segment: |  |  |  |  |  |
Individual Annuities |  | $ | 2,198 |  |  | $ | 1,765 |  |  | $ | 1,797 |
Individual Life |  | (191 | ) |  | 79 |  |  | 635 |
Total U.S. Individual Solutions division(1) |  | 2,007 |  |  | 1,844 |  |  | 2,432 |
Retirement |  | 1,244 |  |  | 1,012 |  |  | 931 |
Group Insurance |  | 253 |  |  | 220 |  |  | 176 |
Total U.S. Workplace Solutions division(1) |  | 1,497 |  |  | 1,232 |  |  | 1,107 |
Investment Management |  | 979 |  |  | 787 |  |  | 779 |
Total Investment Management division(1) |  | 979 |  |  | 787 |  |  | 779 |
International Insurance |  | 3,198 |  |  | 3,117 |  |  | 3,226 |
Total International Insurance division |  | 3,198 |  |  | 3,117 |  |  | 3,226 |
Corporate and Other operations |  | (1,437 | ) |  | (1,581 | ) |  | (1,313 | )
Total Corporate and Other |  | (1,437 | ) |  | (1,581 | ) |  | (1,313 | )
Total segment adjusted operating income before income taxes |  | 6,244 |  |  | 5,399 |  |  | 6,231 |
Reconciling Items: |  |  |  |  |  |
Realized investment gains (losses), net, and related adjustments |  | (602 | ) |  | 989 |  |  | 2,258 |
Charges related to realized investment gains (losses), net |  | 544 |  |  | (466 | ) |  | (679 | )
Investment gains (losses) on trading account assets supporting insurance liabilities, net |  | 336 |  |  | (17 | ) |  | (524 | )
Change in experience-rated contractholder liabilities due to asset value changes |  | (151 | ) |  | 21 |  |  | 433 |
Divested businesses: |  |  |  |  |  |
Closed Block division |  | 45 |  |  | (132 | ) |  | 58 |
Other divested businesses |  | 38 |  |  | (84 | ) |  | (66 | )
Equity in earnings of operating joint ventures and earnings attributable to noncontrolling interests |  | 33 |  |  | (5 | ) |  | 58 |
Consolidated income (loss) before income taxes and equity in earnings of operating joint ventures |  | $ | 6,487 |  |  | $ | 5,705 |  |  | $ | 7,769 |
__________
(1) | Prior period divisional subtotals are presented on a basis consistent with the Company’s new organizational structure. Individual segment results and consolidated totals remain unchanged. See Note 1 for additional information.
The following table sets forth certain other items excluded from adjusted operating income and reflected as an adjustment to “Realized investment gains (losses), net” for purposes of calculating adjusted operating income:
|  | Year Ended December 31,
|  | 2017 |  | 2016 |  | 2015
|  | (in millions)
Net gains (losses) from: |  |
Other trading account assets |  | $ | 184 |  |  | $ | (95 | ) |  | $ | (94 | )
Foreign currency exchange movements |  | $ | (135 | ) |  | $ | (154 | ) |  | $ | 69 |
Other activities |  | $ | (20 | ) |  | $ | (18 | ) |  | $ | 9 |
The following table sets forth the significant components of “Realized investment gains (losses), net” that are included in adjusted operating income and, as a result, are reflected as adjustments to “Realized investment gains (losses), net” for purposes of calculating adjusted operating income:
|  | Year Ended December 31,
|  | 2017 |  | 2016 |  | 2015
|  | (in millions)
Net gains (losses) from(1): |  |  |  |  |  |
Terminated hedges of foreign currency earnings |  | $ | (15 | ) |  | $ | 39 |  |  | $ | 284 |
Current period yield adjustments |  | $ | 434 |  |  | $ | 466 |  |  | $ | 475 |
Principal source of earnings |  | $ | (8 | ) |  | $ | 74 |  |  | $ | 123 |
__________
(1) | In addition to the items in the table above, “Realized investment gains (losses), net, and related charges and adjustments” also includes an adjustment to reflect “Realized investment gains (losses), net” related to divested businesses as results of “Divested businesses,” discussed below.
Schedule of Segment Reporting Information, by Segment | The tables below present certain financial information for the Company’s reportable segments:
|  | As of December 31,
|  | 2017 |  | 2016
|  | (in millions)
Total Assets: |  |  |  |
Individual Annuities |  | $ | 183,666 |  |  | $ | 170,861 |
Individual Life |  | 83,985 |  |  | 77,524 |
Total U.S. Individual Solutions division(1) |  | 267,651 |  |  | 248,385 |
Retirement |  | 183,629 |  |  | 173,509 |
Group Insurance |  | 41,575 |  |  | 40,642 |
Total U.S. Workplace Solutions division(1) |  | 225,204 |  |  | 214,151 |
Investment Management |  | 49,944 |  |  | 49,255 |
Total Investment Management division(1) |  | 49,944 |  |  | 49,255 |
International Insurance |  | 211,432 |  |  | 197,119 |
Total International Insurance division |  | 211,432 |  |  | 197,119 |
Corporate and Other operations |  | 14,556 |  |  | 13,001 |
Total Corporate and Other |  | 14,556 |  |  | 13,001 |
Closed Block |  | 63,134 |  |  | 62,051 |
Total Closed Block division |  | 63,134 |  |  | 62,051 |
Total per Consolidated Statements of Financial Position |  | $ | 831,921 |  |  | $ | 783,962 |
__________
(1) | Prior period divisional subtotals are presented on a basis consistent with the Company’s new organizational structure. Individual segment results and consolidated totals remain unchanged. See Note 1 for additional information.
|  | Year Ended December 31, 2017
|  | Revenues |  | Net Investment Income |  | Policyholders’ Benefits |  | Interest Credited to Policyholders’ Account Balances |  | Dividends to Policyholders |  | Interest Expense |  | Amortization of DAC
|  | (in millions)
Individual Annuities |  | $ | 5,110 |  |  | $ | 742 |  |  | $ | 318 |  |  | $ | 330 |  |  | 0 |  |  | $ | 70 |  |  | $ | 464 |
Individual Life |  | 4,974 |  |  | 1,948 |  |  | 2,100 |  |  | 719 |  |  | 36 |  |  | 648 |  |  | 483 |
Total U.S. Individual Solutions division |  | 10,084 |  |  | 2,690 |  |  | 2,418 |  |  | 1,049 |  |  | 36 |  |  | 718 |  |  | 947 |
Retirement |  | 13,843 |  |  | 4,482 |  |  | 10,035 |  |  | 1,507 |  |  | 0 |  |  | 26 |  |  | 26 |
Group Insurance |  | 5,471 |  |  | 637 |  |  | 4,073 |  |  | 274 |  |  | 0 |  |  | 5 |  |  | 14 |
Total U.S. Workplace Solutions division |  | 19,314 |  |  | 5,119 |  |  | 14,108 |  |  | 1,781 |  |  | 0 |  |  | 31 |  |  | 40 |
Investment Management |  | 3,355 |  |  | 170 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 27 |  |  | 11 |
Total Investment Management division |  | 3,355 |  |  | 170 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 27 |  |  | 11 |
International Insurance |  | 21,560 |  |  | 5,027 |  |  | 13,440 |  |  | 899 |  |  | 48 |  |  | 13 |  |  | 1,138 |
Total International Insurance division |  | 21,560 |  |  | 5,027 |  |  | 13,440 |  |  | 899 |  |  | 48 |  |  | 13 |  |  | 1,138 |
Corporate and Other operations |  | (667 | ) |  | 493 |  |  | 21 |  |  | 0 |  |  | 0 |  |  | 533 |  |  | (43 | )
Total Corporate and Other |  | (667 | ) |  | 493 |  |  | 21 |  |  | 0 |  |  | 0 |  |  | 533 |  |  | (43 | )
Total |  | 53,646 |  |  | 13,499 |  |  | 29,987 |  |  | 3,729 |  |  | 84 |  |  | 1,322 |  |  | 2,093 |
Reconciling items: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Realized investment gains (losses), net, and related adjustments |  | (602 | ) |  | (38 | ) |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |
Charges related to realized investment gains (losses), net |  | (215 | ) |  | 0 |  |  | (69 | ) |  | (191 | ) |  | 0 |  |  | 0 |  |  | (550 | )
Investment gains (losses) on trading account assets supporting insurance liabilities, net |  | 336 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |
Change in experience-rated contractholder liabilities due to assets value changes |  | 0 |  |  | 0 |  |  | 0 |  |  | 151 |  |  | 0 |  |  | 0 |  |  | 0 |
Divested businesses: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Closed Block division |  | 5,826 |  |  | 2,653 |  |  | 3,219 |  |  | 133 |  |  | 2,007 |  |  | 1 |  |  | 37 |
Other divested businesses |  | 775 |  |  | 321 |  |  | 657 |  |  | 0 |  |  | 0 |  |  | 4 |  |  | 0 |
Equity in earnings of operating joint ventures and earnings attributable to noncontrolling interests |  | (77 | ) |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |
Total per Consolidated Statements of Operations |  | $ | 59,689 |  |  | $ | 16,435 |  |  | $ | 33,794 |  |  | $ | 3,822 |  |  | $ | 2,091 |  |  | $ | 1,327 |  |  | $ | 1,580 |
|  | Year Ended December 31, 2016
|  | Revenues |  | Net Investment Income |  | Policyholders’ Benefits |  | Interest Credited to Policyholders’ Account Balances |  | Dividends to Policyholders |  | Interest Expense |  | Amortization of DAC
|  | (in millions)
Individual Annuities |  | $ | 4,666 |  |  | $ | 698 |  |  | $ | 306 |  |  | $ | 362 |  |  | 0 |  |  | $ | 71 |  |  | $ | 484 |
Individual Life |  | 5,355 |  |  | 1,822 |  |  | 2,750 |  |  | 680 |  |  | 35 |  |  | 583 |  |  | 115 |
Total U.S. Individual Solutions division(1) |  | 10,021 |  |  | 2,520 |  |  | 3,056 |  |  | 1,042 |  |  | 35 |  |  | 654 |  |  | 599 |
Retirement |  | 12,876 |  |  | 4,263 |  |  | 9,328 |  |  | 1,473 |  |  | 0 |  |  | 19 |  |  | 33 |
Group Insurance |  | 5,343 |  |  | 608 |  |  | 4,032 |  |  | 263 |  |  | 0 |  |  | 5 |  |  | 6 |
Total U.S. Workplace Solutions division(1) |  | 18,219 |  |  | 4,871 |  |  | 13,360 |  |  | 1,736 |  |  | 0 |  |  | 24 |  |  | 39 |
Investment Management |  | 2,961 |  |  | 80 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 15 |  |  | 15 |
Total Investment Management division(1) |  | 2,961 |  |  | 80 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 15 |  |  | 15 |
International Insurance |  | 21,009 |  |  | 4,759 |  |  | 13,183 |  |  | 920 |  |  | 49 |  |  | 8 |  |  | 1,068 |
Total International Insurance division |  | 21,009 |  |  | 4,759 |  |  | 13,183 |  |  | 920 |  |  | 49 |  |  | 8 |  |  | 1,068 |
Corporate and Other operations |  | (636 | ) |  | 465 |  |  | 26 |  |  | 0 |  |  | 0 |  |  | 614 |  |  | (49 | )
Total Corporate and Other |  | (636 | ) |  | 465 |  |  | 26 |  |  | 0 |  |  | 0 |  |  | 614 |  |  | (49 | )
Total |  | 51,574 |  |  | 12,695 |  |  | 29,625 |  |  | 3,698 |  |  | 84 |  |  | 1,315 |  |  | 1,672 |
Reconciling items: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Realized investment gains (losses), net, and related adjustments |  | 989 |  |  | (31 | ) |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |
Charges related to realized investment gains (losses), net |  | 19 |  |  | 0 |  |  | 131 |  |  | (50 | ) |  | 0 |  |  | 0 |  |  | 168 |
Investment gains (losses) on trading account assets supporting insurance liabilities, net |  | (17 | ) |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |
Change in experience-rated contractholder liabilities due to assets value changes |  | 0 |  |  | 0 |  |  | 0 |  |  | (21 | ) |  | 0 |  |  | 0 |  |  | 0 |
Divested businesses: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Closed Block division |  | 5,669 |  |  | 2,578 |  |  | 3,282 |  |  | 134 |  |  | 1,941 |  |  | 2 |  |  | 37 |
Other divested businesses |  | 602 |  |  | 278 |  |  | 594 |  |  | 0 |  |  | 0 |  |  | 3 |  |  | 0 |
Equity in earnings of operating joint ventures and earnings attributable to noncontrolling interests |  | (57 | ) |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |
Total per Consolidated Statements of Operations |  | $ | 58,779 |  |  | $ | 15,520 |  |  | $ | 33,632 |  |  | $ | 3,761 |  |  | $ | 2,025 |  |  | $ | 1,320 |  |  | $ | 1,877 |
__________
(1) | Prior period divisional subtotals are presented on a basis consistent with the Company’s new organizational structure. Individual segment results and consolidated totals remain unchanged. See Note 1 for additional information.
|  | Year Ended December 31, 2015
|  | Revenues |  | Net Investment Income |  | Policyholders’ Benefits |  | Interest Credited to Policyholders’ Account Balances |  | Dividends to Policyholders |  | Interest Expense |  | Amortization of DAC
|  | (in millions)
Individual Annuities |  | $ | 4,695 |  |  | $ | 603 |  |  | $ | 314 |  |  | $ | 363 |  |  | $ | 0 |  |  | $ | 69 |  |  | $ | 465 |
Individual Life |  | 5,233 |  |  | 1,669 |  |  | 2,245 |  |  | 644 |  |  | 33 |  |  | 550 |  |  | 133 |
Total U.S. Individual Solutions division(1) |  | 9,928 |  |  | 2,272 |  |  | 2,559 |  |  | 1,007 |  |  | 33 |  |  | 619 |  |  | 598 |
Retirement |  | 11,821 |  |  | 4,082 |  |  | 8,352 |  |  | 1,441 |  |  | (2 | ) |  | 25 |  |  | 66 |
Group Insurance |  | 5,143 |  |  | 586 |  |  | 3,868 |  |  | 257 |  |  | 0 |  |  | 8 |  |  | 6 |
Total U.S. Workplace Solutions division(1) |  | 16,964 |  |  | 4,668 |  |  | 12,220 |  |  | 1,698 |  |  | (2 | ) |  | 33 |  |  | 72 |
Investment Management |  | 2,944 |  |  | 111 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 10 |  |  | 19 |
Total Investment Management division(1) |  | 2,944 |  |  | 111 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 10 |  |  | 19 |
International Insurance |  | 19,364 |  |  | 4,357 |  |  | 11,821 |  |  | 880 |  |  | 51 |  |  | 5 |  |  | 989 |
Total International Insurance division |  | 19,364 |  |  | 4,357 |  |  | 11,821 |  |  | 880 |  |  | 51 |  |  | 5 |  |  | 989 |
Corporate and Other operations |  | (570 | ) |  | 550 |  |  | 16 |  |  | 0 |  |  | 0 |  |  | 635 |  |  | (47 | )
Total Corporate and Other |  | (570 | ) |  | 550 |  |  | 16 |  |  | 0 |  |  | 0 |  |  | 635 |  |  | (47 | )
Total |  | 48,630 |  |  | 11,958 |  |  | 26,616 |  |  | 3,585 |  |  | 82 |  |  | 1,302 |  |  | 1,631 |
Reconciling items: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Realized investment gains (losses), net, and related adjustments |  | 2,258 |  |  | 1 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |
Charges related to realized investment gains (losses), net |  | (31 | ) |  | 0 |  |  | 39 |  |  | 191 |  |  | 0 |  |  | 0 |  |  | 452 |
Investment gains (losses) on trading account assets supporting insurance liabilities, net |  | (524 | ) |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |
Change in experience-rated contractholder liabilities due to assets value changes |  | 0 |  |  | 0 |  |  | 0 |  |  | (433 | ) |  | 0 |  |  | 0 |  |  | 0 |
Divested businesses: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Closed Block division |  | 6,160 |  |  | 2,653 |  |  | 3,365 |  |  | 135 |  |  | 2,130 |  |  | 1 |  |  | 37 |
Other divested businesses |  | 638 |  |  | 217 |  |  | 607 |  |  | 1 |  |  | 0 |  |  | 3 |  |  | 0 |
Equity in earnings of operating joint ventures and earnings attributable to noncontrolling interests |  | (12 | ) |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |
Total per Consolidated Statements of Operations |  | $ | 57,119 |  |  | $ | 14,829 |  |  | $ | 30,627 |  |  | $ | 3,479 |  |  | $ | 2,212 |  |  | $ | 1,306 |  |  | $ | 2,120 |
__________
(1) | Prior period divisional subtotals are presented on a basis consistent with the Company’s new organizational structure. Individual segment results and consolidated totals remain unchanged. See Note 1 for additional information.
Schedule Of Revenues From Domestic And Foreign Operations | Revenues, calculated in accordance with U.S. GAAP, for the years ended December 31, include the following associated with the Company’s foreign and domestic operations:
|  | 2017 |  | 2016 |  | 2015
|  | (in millions)
Domestic operations |  | $ | 36,573 |  |  | $ | 36,079 |  |  | $ | 36,151 |
Foreign operations, total |  | $ | 23,116 |  |  | $ | 22,700 |  |  | $ | 20,968 |
Foreign operations, Japan |  | $ | 19,589 |  |  | $ | 19,768 |  |  | $ | 18,177 |
Foreign operations, Korea |  | $ | 1,567 |  |  | $ | 1,439 |  |  | $ | 1,462 |
Schedule Of Intersegment Revenues | The Investment Management segment revenues include intersegment revenues, primarily consisting of asset-based management and administration fees, for the years ended December 31, as follows:
|  | 2017 |  | 2016 |  | 2015
|  | (in millions)
Investment Management segment intersegment revenues |  | $ | 717 |  |  | $ | 682 |  |  | $ | 682 |

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