XML 44 R33.htm IDEA: XBRL DOCUMENT
v3.21.1

Commitments and Contingent Liabilities (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2021
Commitments and Contingent Liabilities [Line Items] |
Mortgage Loans | The following table sets forth the composition of “Commercial mortgage and other loans,” as of the dates indicated:
|  | March 31, 2021 |  | December 31, 2020
|  | Amount (in millions) |  | % of Total |  | Amount (in millions) |  | % of Total
Commercial mortgage and agricultural property loans by property type: |  |  |  |  |  |  |  |
Office |  | $ | 12,555 |  |  | 19.6 | % |  | $ | 12,750 |  |  | 19.7 | %
Retail |  | 7,233 |  |  | 11.3 |  |  | 7,326 |  |  | 11.3 |
Apartments/Multi-Family |  | 17,642 |  |  | 27.6 |  |  | 18,330 |  |  | 28.3 |
Industrial |  | 15,228 |  |  | 23.8 |  |  | 14,954 |  |  | 23.1 |
Hospitality |  | 2,365 |  |  | 3.7 |  |  | 2,395 |  |  | 3.7 |
Other |  | 4,877 |  |  | 7.6 |  |  | 4,981 |  |  | 7.7 |
Total commercial mortgage loans |  | 59,900 |  |  | 93.6 |  |  | 60,736 |  |  | 93.8 |
Agricultural property loans |  | 4,094 |  |  | 6.4 |  |  | 4,048 |  |  | 6.2 |
Total commercial mortgage and agricultural property loans |  | 63,994 |  |  | 100.0 | % |  | 64,784 |  |  | 100.0 | %
Allowance for credit losses |  | (217) |  |  |  |  | (227) |  |  |
Total net commercial mortgage and agricultural property loans |  | 63,777 |  |  |  |  | 64,557 |  |  |
Other loans: |  |  |  |  |  |  |  |
Uncollateralized loans |  | 583 |  |  |  |  | 655 |  |  |
Residential property loans |  | 86 |  |  |  |  | 101 |  |  |
Other collateralized loans |  | 115 |  |  |  |  | 120 |  |  |
Total other loans |  | 784 |  |  |  |  | 876 |  |  |
Allowance for credit losses |  | (7) |  |  |  |  | (8) |  |  |
Total net other loans |  | 777 |  |  |  |  | 868 |  |  |
Total net commercial mortgage and other loans(1) |  | $ | 64,554 |  |  |  |  | $ | 65,425 |  |  |
__________ (1)Includes loans held for sale which are carried at fair value and are collateralized primarily by apartment complexes. As of March 31, 2021 and December 31, 2020, the net carrying value of these loans was $500 million and $1,092 million, respectively.
Commitments | Commercial Mortgage Loans |
Commitments and Contingent Liabilities [Line Items] |
Mortgage Loans | Commercial Mortgage Loan Commitments
| March 31, 2021 |  | December 31, 2020
| (in millions)
Total outstanding mortgage loan commitments | $ | 2,121 |  |  | $ | 2,357 |
Portion of commitment where prearrangement to sell to investor exists | $ | 1,017 |  |  | $ | 882 |
Commitments | Investments |
Commitments and Contingent Liabilities [Line Items] |
Commitments to Purchase Investments (excluding Commercial Mortgage Loans) | Commitments to Purchase Investments (excluding Commercial Mortgage Loans)
| March 31, 2021 |  | December 31, 2020
| (in millions)
Expected to be funded from the general account and other operations outside the separate accounts | $ | 9,003 |  |  | $ | 9,567 |
Expected to be funded from separate accounts | $ | 255 |  |  | $ | 336 |
Indemnification |
Commitments and Contingent Liabilities [Line Items] |
Indemnification of Securities Lending and Securities Repurchase Transactions | Indemnification of Securities Lending and Securities Repurchase Transactions
| March 31, 2021 |  | December 31, 2020
| (in millions)
Indemnification provided to certain clients for securities lending and securities repurchase transactions(1) | $ | 7,516 |  |  | $ | 7,108 |
Fair value of related collateral associated with above indemnifications(1) | $ | 7,673 |  |  | $ | 7,254 |
Accrued liability associated with guarantee | $ | 0 |  |  | $ | 0 |
__________ (1)Includes $65 million and $34 million related to securities repurchase transactions as of March 31, 2021 and December 31, 2020, respectively.
Indemnification | Serviced Mortgage Loans |
Commitments and Contingent Liabilities [Line Items] |
Mortgage Loans | Indemnification of Serviced Mortgage Loans
| March 31, 2021 |  | December 31, 2020
| (in millions)
Maximum exposure under indemnification agreements for mortgage loans serviced by the Company | $ | 2,784 |  |  | $ | 2,684 |
First-loss exposure portion of above | $ | 812 |  |  | $ | 784 |
Accrued liability associated with guarantees(1) | $ | 40 |  |  | $ | 41 |
__________ (1)The accrued liability associated with guarantees includes an allowance for credit losses of $19 million and $20 million as of March 31, 2021 and December 31, 2020, respectively. The change in allowance is a reduction of $1 million for both the three months ended March 31, 2021 and 2020.
Guarantees of Asset Values |
Commitments and Contingent Liabilities [Line Items] |
Guarantees | Guarantees of Asset Values
| March 31, 2021 |  | December 31, 2020
| (in millions)
Guaranteed value of third-parties’ assets | $ | 85,273 |  |  | $ | 86,264 |
Fair value of collateral supporting these assets | $ | 88,249 |  |  | $ | 90,612 |
Asset (liability) associated with guarantee, carried at fair value | $ | 0 |  |  | $ | 0 |
Other Guarantees |
Commitments and Contingent Liabilities [Line Items] |
Guarantees | Other Guarantees
| March 31, 2021 |  | December 31, 2020
| (in millions)
Other guarantees where amount can be determined | $ | 85 |  |  | $ | 52 |
Accrued liability for other guarantees and indemnifications | $ | 0 |  |  | $ | 0 |

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_OtherCommitmentsLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information about obligations resulting from other commitments. + References No definition available. + Details
Name: | us-gaap_OtherCommitmentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of each guarantee obligation, or each group of similar guarantee obligations, including (a) the nature of the guarantee, including its term, how it arose, and the events or circumstances that would require the guarantor to perform under the guarantee; (b) the maximum potential amount of future payments (undiscounted) the guarantor could be required to make under the guarantee; (c) the current carrying amount of the liability, if any, for the guarantor's obligations under the guarantee; and (d) the nature of any recourse provisions under the guarantee, and any assets held either as collateral or by third parties, and any relevant related party disclosure. Excludes disclosures about product warranties. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=121555522&loc=d3e12069-110248 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=121555522&loc=d3e12265-110248 + Details
Name: | us-gaap_ScheduleOfGuaranteeObligationsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the terms and amounts of participation in loan arrangements. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=99377297&loc=d3e10013-112621 + Details
Name: | us-gaap_ScheduleOfParticipatingMortgageLoansTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of securities financing transactions including resale and repurchase agreements, securities borrowed and lending transactions, securities received as collateral and obligations to return securities received as collateral. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(m)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 30 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=109249958&loc=SL6224234-111729 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=51824906&loc=SL20225877-175312 + Details
Name: | us-gaap_ScheduleOfSecuritiesFinancingTransactionsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_GuaranteeObligationsByNatureAxis=us-gaap_CommitmentsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FinancialInstrumentAxis=us-gaap_CommercialLoanMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FinancialInstrumentAxis=us-gaap_InvestmentsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_GuaranteeObligationsByNatureAxis=us-gaap_IndemnificationGuaranteeMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FinancialInstrumentAxis=us-gaap_MortgagesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_GuaranteeObligationsByNatureAxis=us-gaap_MarketValueGuaranteeMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_GuaranteeObligationsByNatureAxis=us-gaap_GuaranteeTypeOtherMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |