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Closed Block (Closed Block Liabilities and Assets Designated to Closed Block; Maximum Future Earnings to be Recognized) (Details) - USD ($) $ in Millions | Mar. 31, 2021 | Dec. 31, 2020
--- | --- | ---
Closed Block liabilities |  |
Future policy benefits | $ 46,392 | $ 46,762
Policyholders’ dividends payable | 651 | 635
Policyholders’ dividend obligation | 6,410 | 8,787
Policyholders’ account balances | 4,839 | 4,874
Other Closed Block liabilities | 3,358 | 3,141
Total Closed Block liabilities | 61,650 | 64,199
Closed Block assets |  |
Fixed maturities, available-for-sale, at fair value | 38,687 | 41,959
Fixed maturities, trading, at fair value | 271 | 277
Equity securities, at fair value | 2,563 | 2,345
Commercial mortgage and other loans | 8,297 | 8,421
Policy loans | 3,984 | 4,064
Other invested assets | 3,730 | 3,610
Short-term investments | 132 | 124
Total investments | 57,664 | 60,800
Cash and cash equivalents | 811 | 269
Accrued investment income | 453 | 431
Other Closed Block assets | 129 | 92
Total Closed Block assets | 59,057 | 61,592
Excess of reported Closed Block liabilities over Closed Block assets | 2,593 | 2,607
Portion of above representing accumulated other comprehensive income (loss): |  |
Net unrealized investment gains (losses) | 3,189 | 5,810
Allocated to policyholder dividend obligation | (3,244) | (5,867)
Future earnings to be recognized from Closed Block assets and Closed Block liabilities | $ 2,538 | $ 2,550

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- Definition The liability as of the balance sheet date for future benefits to be paid to or on behalf of policyholders and expenses, less the present value of future net premiums payable under the insurance contracts and the policy cash accumulations, for the segregated group of participating or dividend-paying policies and contracts identified as a closed block. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 805 -Section 55 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=121635976&loc=d3e31071-158570 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 805 -Section 50 -Paragraph 3 -Subparagraph (b)(2) -URI http://asc.fasb.org/extlink&oid=121638837&loc=d3e30806-158569 + Details
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- Definition The liability as of the balance sheet date for the excess of the cumulative actual closed block earnings over the cumulative expected (actuarially determined) closed block earnings (each) for the period from the actuarial calculation date to the date of measurement. The excess will result in future dividends to closed block policyholders, unless offset by less favorable than expected future performance of the closed block. The policyholder dividend obligation, which may not have a negative balance, recognizes that a portion of earnings in certain cases will not inure to the stockholders of the insurance entity. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 805 -Section 55 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=121635976&loc=d3e31071-158570 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 805 -Section 50 -Paragraph 3 -Subparagraph (b)(3) -URI http://asc.fasb.org/extlink&oid=121638837&loc=d3e30806-158569 + Details
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