Commitments and Guarantees, Contingent Liabilities and Litigation and Regulatory Matters (Tables)
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12 Months Ended |
Dec. 31, 2017 |
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| Commitments and Guarantees and Contingent Liabilities [Line Items] |
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| Leases |
The following table presents, at December 31, 2017, the Company’s future minimum lease payments under non-cancelable operating and capital leases along with associated sub-lease income: | | | | | | | | | | | | Operating and Capital Leases(1) | | Sub-lease Income | | | | | | | | (in millions) | 2018 | | $ | 147 |
| | $ | 0 |
| 2019 | | 123 |
| | 0 |
| 2020 | | 94 |
| | 0 |
| 2021 | | 80 |
| | 0 |
| 2022 | | 62 |
| | 0 |
| 2023 and thereafter | | 138 |
| | 0 |
| Total | | $ | 644 |
| | $ | 0 |
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| | (1) | Future minimum lease payments under capital leases were $20 million as of December 31, 2017. |
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| Mortgage Loans |
The following table sets forth the composition of “Commercial mortgage and other loans,” as of the dates indicated: | | | | | | | | | | | | | | | | | | December 31, 2017 | | December 31, 2016 | | | Amount (in millions) | | % of Total | | Amount (in millions) | | % of Total | Commercial mortgage and agricultural property loans by property type: | | | | | | | | | Office | | $ | 12,670 |
| | 22.9 | % | | $ | 12,424 |
| | 23.9 | % | Retail | | 8,543 |
| | 15.5 |
| | 8,555 |
| | 16.5 |
| Apartments/Multi-Family | | 15,465 |
| | 28.0 |
| | 13,733 |
| | 26.4 |
| Industrial | | 9,451 |
| | 17.1 |
| | 8,075 |
| | 15.5 |
| Hospitality | | 2,067 |
| | 3.7 |
| | 2,274 |
| | 4.4 |
| Other | | 3,888 |
| | 7.0 |
| | 3,966 |
| | 7.6 |
| Total commercial mortgage loans | | 52,084 |
| | 94.2 |
| | 49,027 |
| | 94.3 |
| Agricultural property loans | | 3,203 |
| | 5.8 |
| | 2,958 |
| | 5.7 |
| Total commercial mortgage and agricultural property loans by property type | | 55,287 |
| | 100.0 | % | | 51,985 |
| | 100.0 | % | Valuation allowance | | (100 | ) | | | | (98 | ) | | | Total net commercial mortgage and agricultural property loans by property type | | 55,187 |
| | | | 51,887 |
| | | Other loans: | | | | | | | | | Uncollateralized loans | | 663 |
| | | | 638 |
| | | Residential property loans | | 196 |
| | | | 252 |
| | | Other collateralized loans | | 5 |
| | | | 10 |
| | | Total other loans | | 864 |
| | | | 900 |
| | | Valuation allowance | | (6 | ) | | | | (8 | ) | | | Total net other loans | | 858 |
| | | | 892 |
| | | Total commercial mortgage and other loans(1) | | $ | 56,045 |
| | | | $ | 52,779 |
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__________ | | (1) | Includes loans held for sale which are carried at fair value and are collateralized primarily by apartment complexes. As of December 31, 2017 and 2016, the net carrying value of these loans was $593 million and $519 million, respectively. |
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| Insolvency Assessment |
Assets and liabilities held for insolvency assessments were as follows: | | | | | | | | | | | | December 31, | | | 2017 | | 2016 | | | | | | | | (in millions) | Other assets: | | | | | Premium tax offset for future undiscounted assessments | | $ | 64 |
| | $ | 78 |
| Premium tax offset currently available for paid assessments | | 6 |
| | 6 |
| Total | | $ | 70 |
| | $ | 84 |
| Other liabilities: | | | | | Insolvency assessments | | $ | 39 |
| | $ | 52 |
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| Commitments | Commercial Mortgage Loans |
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| Commitments and Guarantees and Contingent Liabilities [Line Items] |
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| Mortgage Loans |
Commercial Mortgage Loan Commitments | | | | | | | | | | | | December 31, | | | 2017 | | 2016 | | | | | | | | (in millions) | Total outstanding mortgage loan commitments | | $ | 2,772 |
| | $ | 1,984 |
| Portion of commitment where prearrangement to sell to investor exists | | $ | 435 |
| | $ | 454 |
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| Commitments | Investments |
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| Commitments and Guarantees and Contingent Liabilities [Line Items] |
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| Commitments to Purchase Investments (excluding Commercial Mortgage Loans) |
Commitments to Purchase Investments (excluding Commercial Mortgage Loans) | | | | | | | | | | | | December 31, | | | 2017 | | 2016 | | | | | | | | (in millions) | Expected to be funded from the general account and other operations outside the separate accounts(1) | | $ | 6,319 |
| | $ | 7,232 |
| Expected to be funded from separate accounts(1) | | $ | 141 |
| | $ | 470 |
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__________ | | (1) | The amounts at December 31, 2016 have been revised to correct the previously reported amounts. |
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| Indemnification |
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| Commitments and Guarantees and Contingent Liabilities [Line Items] |
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| Indemnification of Securities Lending Transactions |
Indemnification of Securities Lending Transactions | | | | | | | | | | | | December 31, | | | 2017 | | 2016 | | | | | | | | (in millions) | Indemnification provided to certain securities lending clients | | $ | 4,619 |
| | $ | 5,352 |
| Fair value of related collateral associated with above indemnifications | | $ | 4,722 |
| | $ | 5,465 |
| Accrued liability associated with guarantee | | $ | 0 |
| | $ | 0 |
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| Indemnification | Serviced Mortgages Loans |
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| Commitments and Guarantees and Contingent Liabilities [Line Items] |
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| Mortgage Loans |
Indemnification of Serviced Mortgage Loans | | | | | | | | | | | | December 31, | | | 2017 | | 2016 | | | | | | | | (in millions) | Maximum exposure under indemnification agreements for mortgage loans serviced by the Company | | $ | 1,609 |
| | $ | 1,371 |
| First-loss exposure portion of above | | $ | 483 |
| | $ | 416 |
| Accrued liability associated with guarantees | | $ | 14 |
| | $ | 13 |
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| Guarantee of Asset Values |
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| Commitments and Guarantees and Contingent Liabilities [Line Items] |
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| Guarantees |
Guarantees of Asset Values | | | | | | | | | | | | December 31, | | | 2017 | | 2016 | | | | | | | | (in millions) | Guaranteed value of third parties’ assets | | $ | 77,290 |
| | $ | 77,197 |
| Fair value of collateral supporting these assets | | $ | 77,651 |
| | $ | 77,760 |
| Asset (liability) associated with guarantee, carried at fair value | | $ | (1 | ) | | $ | 5 |
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| Other Guarantees |
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| Commitments and Guarantees and Contingent Liabilities [Line Items] |
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| Guarantees |
Other Guarantees | | | | | | | | | | | | December 31, | | | 2017 | | 2016 | | | | | | | | (in millions) | Other guarantees where amount can be determined | | $ | 31 |
| | $ | 58 |
| Accrued liability for other guarantees and indemnifications | | $ | 0 |
| | $ | 3 |
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