XML 74 R63.htm IDEA: XBRL DOCUMENT v3.21.1
Fair Value of Assets and Liabilities (Balances of Assets and Liabilities Measured at Fair Value on a Recurring Basis) (Details) - USD ($)
$ in Millions
Mar. 31, 2021
Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale [1] $ 378,596 $ 412,905
Assets supporting experience-rated contractholder liabilities [1] 24,027 24,115
Fixed maturities, trading [1] 6,202 3,914
Equity securities [1] 8,492 8,135
Commercial mortgage and other loans [1] 64,554 65,425
Other invested assets [1] 18,863 18,125
Other assets [1] 22,567 22,801
Separate account assets 326,443 327,277
TOTAL ASSETS 907,280 940,722
Future policy benefits 290,536 306,343
Other liabilities [1] 19,855 20,323
Total liabilities 848,504 872,512
Netting (12,532) (21,367)
Embedded Derivative, Fair Value of Embedded Derivative, Net Liability 12,907 20,119
Debt Securities, Available-for-sale, Amortized Cost 341,122 354,470
Fixed maturities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 378,596 412,905
Assets supporting experience-rated contractholder liabilities 21,302 21,414
Debt Securities, Available-for-sale, Amortized Cost 341,122 354,470
Future policy benefits    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Embedded Derivative, Fair Value of Embedded Derivative, Net Liability 11,300 18,900
Embedded Derivative, Fair Value Of Embedded Derivative Gross Asset 800 500
Embedded Derivative, Fair Value Of Embedded Derivative Gross Liability 12,100 19,400
U.S. Treasury securities and obligations of U.S. government authorities and agencies | Fixed maturities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 27,628 40,448
Debt Securities, Available-for-sale, Amortized Cost 23,400 30,766
Obligations of U.S. states and their political subdivisions | Fixed maturities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 12,089 12,811
Debt Securities, Available-for-sale, Amortized Cost 10,491 10,668
Foreign government bonds | Fixed maturities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 102,484 110,244
Assets supporting experience-rated contractholder liabilities 996 945
Debt Securities, Available-for-sale, Amortized Cost 89,084 94,110
U.S. public corporate securities | Fixed maturities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 105,975 113,555
Debt Securities, Available-for-sale, Amortized Cost 95,495 95,299
U.S. private corporate securities | Fixed maturities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 39,348 40,937
Debt Securities, Available-for-sale, Amortized Cost 36,904 36,894
Foreign public corporate securities | Fixed maturities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 28,440 29,537
Debt Securities, Available-for-sale, Amortized Cost 25,892 25,857
Foreign private corporate securities | Fixed maturities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 30,479 31,592
Debt Securities, Available-for-sale, Amortized Cost 28,772 28,668
Corporate securities | Fixed maturities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assets supporting experience-rated contractholder liabilities 15,130 15,472
Asset-backed securities | Fixed maturities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 13,635 14,591
Assets supporting experience-rated contractholder liabilities 2,066 1,697
Debt Securities, Available-for-sale, Amortized Cost 13,470 14,489
Commercial mortgage-backed securities | Fixed maturities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 15,425 16,303
Assets supporting experience-rated contractholder liabilities 1,773 1,839
Debt Securities, Available-for-sale, Amortized Cost 14,673 15,036
Residential mortgage-backed securities | Fixed maturities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 3,093 2,887
Assets supporting experience-rated contractholder liabilities 915 1,018
Debt Securities, Available-for-sale, Amortized Cost 2,941 2,683
Fair Value, Measurements, Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 378,596 412,905
Assets supporting experience-rated contractholder liabilities 23,996 24,076
Fixed maturities, trading 6,202 3,914
Equity securities 8,348 7,998
Commercial mortgage and other loans 500 1,092
Other invested assets 2,225 2,271
Short-term investments 4,304 6,310
Cash equivalents 7,001 5,482
Other assets 144 268
Separate account assets 302,905 304,270
TOTAL ASSETS 734,221 768,586
Future policy benefits 11,314 18,879
Policyholders' account balances 2,171 1,914
Other liabilities 1,155 385
Notes issued by consolidated VIEs 0 0
Total liabilities 14,640 21,178
Assets Netting (12,532) (21,367)
Liabilities Netting (18,781) (17,475)
Netting 6,249 (3,892)
Fair Value, Measurements, Recurring | Other invested assets    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assets Netting (12,532) (21,367)
Fair Value, Measurements, Recurring | Other liabilities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Liabilities Netting (18,781) (17,475)
Fair Value, Measurements, Recurring | U.S. Treasury securities and obligations of U.S. government authorities and agencies    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 27,628 40,448
Assets supporting experience-rated contractholder liabilities 209 212
Fair Value, Measurements, Recurring | Obligations of U.S. states and their political subdivisions    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 12,089 12,811
Assets supporting experience-rated contractholder liabilities 213 231
Fair Value, Measurements, Recurring | Foreign government bonds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 102,484 110,244
Assets supporting experience-rated contractholder liabilities 996 945
Fair Value, Measurements, Recurring | U.S. public corporate securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 105,975 113,555
Fair Value, Measurements, Recurring | U.S. private corporate securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 39,348 40,937
Fair Value, Measurements, Recurring | Foreign public corporate securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 28,440 29,537
Fair Value, Measurements, Recurring | Foreign private corporate securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 30,479 31,592
Fair Value, Measurements, Recurring | Corporate securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assets supporting experience-rated contractholder liabilities 15,130 15,472
Fair Value, Measurements, Recurring | Asset-backed securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 13,635 14,591
Assets supporting experience-rated contractholder liabilities 2,066 1,697
Fair Value, Measurements, Recurring | Commercial mortgage-backed securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 15,425 16,303
Assets supporting experience-rated contractholder liabilities 1,773 1,839
Fair Value, Measurements, Recurring | Residential mortgage-backed securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 3,093 2,887
Assets supporting experience-rated contractholder liabilities 915 1,018
Fair Value, Measurements, Recurring | Equity securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assets supporting experience-rated contractholder liabilities 2,296 2,043
Fair Value, Measurements, Recurring | All other    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assets supporting experience-rated contractholder liabilities 398 619
Fair Value, Measurements, Recurring | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 0 0
Assets supporting experience-rated contractholder liabilities 911 1,834
Fixed maturities, trading 0 0
Equity securities 6,370 6,207
Commercial mortgage and other loans 0 0
Other invested assets 99 227
Short-term investments 409 405
Cash equivalents 1,640 1,476
Other assets 0 0
Separate account assets 54,579 51,826
TOTAL ASSETS 64,008 61,975
Future policy benefits 0 0
Policyholders' account balances 0 0
Other liabilities 85 32
Notes issued by consolidated VIEs 0 0
Total liabilities 85 32
Fair Value, Measurements, Recurring | Level 1 | U.S. Treasury securities and obligations of U.S. government authorities and agencies    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 0 0
Assets supporting experience-rated contractholder liabilities 0 0
Fair Value, Measurements, Recurring | Level 1 | Obligations of U.S. states and their political subdivisions    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 0 0
Assets supporting experience-rated contractholder liabilities 0 0
Fair Value, Measurements, Recurring | Level 1 | Foreign government bonds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 0 0
Assets supporting experience-rated contractholder liabilities 0 0
Fair Value, Measurements, Recurring | Level 1 | U.S. public corporate securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 0 0
Fair Value, Measurements, Recurring | Level 1 | U.S. private corporate securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 0 0
Fair Value, Measurements, Recurring | Level 1 | Foreign public corporate securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 0 0
Fair Value, Measurements, Recurring | Level 1 | Foreign private corporate securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 0 0
Fair Value, Measurements, Recurring | Level 1 | Corporate securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assets supporting experience-rated contractholder liabilities 0 0
Fair Value, Measurements, Recurring | Level 1 | Asset-backed securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 0 0
Assets supporting experience-rated contractholder liabilities 0 0
Fair Value, Measurements, Recurring | Level 1 | Commercial mortgage-backed securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 0 0
Assets supporting experience-rated contractholder liabilities 0 0
Fair Value, Measurements, Recurring | Level 1 | Residential mortgage-backed securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 0 0
Assets supporting experience-rated contractholder liabilities 0 0
Fair Value, Measurements, Recurring | Level 1 | Equity securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assets supporting experience-rated contractholder liabilities 911 1,784
Fair Value, Measurements, Recurring | Level 1 | All other    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assets supporting experience-rated contractholder liabilities 0 50
Fair Value, Measurements, Recurring | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 372,324 406,862
Assets supporting experience-rated contractholder liabilities 22,289 21,607
Fixed maturities, trading 5,960 3,671
Equity securities 1,250 1,131
Commercial mortgage and other loans 500 1,092
Other invested assets 14,280 23,045
Short-term investments 3,499 5,728
Cash equivalents 5,357 4,005
Other assets 0 0
Separate account assets 247,020 250,623
TOTAL ASSETS 672,479 717,764
Future policy benefits 0 0
Policyholders' account balances 0 0
Other liabilities 19,851 17,828
Notes issued by consolidated VIEs 0 0
Total liabilities 19,851 17,828
Fair Value, Measurements, Recurring | Level 2 | U.S. Treasury securities and obligations of U.S. government authorities and agencies    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 27,478 40,298
Assets supporting experience-rated contractholder liabilities 209 212
Fair Value, Measurements, Recurring | Level 2 | Obligations of U.S. states and their political subdivisions    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 12,085 12,807
Assets supporting experience-rated contractholder liabilities 213 231
Fair Value, Measurements, Recurring | Level 2 | Foreign government bonds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 102,473 110,233
Assets supporting experience-rated contractholder liabilities 977 926
Fair Value, Measurements, Recurring | Level 2 | U.S. public corporate securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 105,911 113,486
Fair Value, Measurements, Recurring | Level 2 | U.S. private corporate securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 37,146 38,689
Fair Value, Measurements, Recurring | Level 2 | Foreign public corporate securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 28,296 29,384
Fair Value, Measurements, Recurring | Level 2 | Foreign private corporate securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 27,612 28,727
Fair Value, Measurements, Recurring | Level 2 | Corporate securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assets supporting experience-rated contractholder liabilities 14,592 14,990
Fair Value, Measurements, Recurring | Level 2 | Asset-backed securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 12,926 14,068
Assets supporting experience-rated contractholder liabilities 1,847 1,583
Fair Value, Measurements, Recurring | Level 2 | Commercial mortgage-backed securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 15,415 16,294
Assets supporting experience-rated contractholder liabilities 1,773 1,839
Fair Value, Measurements, Recurring | Level 2 | Residential mortgage-backed securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 2,982 2,876
Assets supporting experience-rated contractholder liabilities 915 1,018
Fair Value, Measurements, Recurring | Level 2 | Equity securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assets supporting experience-rated contractholder liabilities 1,385 259
Fair Value, Measurements, Recurring | Level 2 | All other    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assets supporting experience-rated contractholder liabilities 378 549
Fair Value, Measurements, Recurring | Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 6,272 6,043
Assets supporting experience-rated contractholder liabilities 796 635
Fixed maturities, trading 242 243
Equity securities 728 660
Commercial mortgage and other loans 0 0
Other invested assets 378 366
Short-term investments 396 177
Cash equivalents 4 1
Other assets 144 268
Separate account assets 1,306 1,821
TOTAL ASSETS 10,266 10,214
Future policy benefits 11,314 18,879
Policyholders' account balances 2,171 1,914
Other liabilities 0 0
Notes issued by consolidated VIEs 0 0
Total liabilities 13,485 20,793
Fair Value, Measurements, Recurring | Level 3 | U.S. Treasury securities and obligations of U.S. government authorities and agencies    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 150 150
Assets supporting experience-rated contractholder liabilities 0 0
Fair Value, Measurements, Recurring | Level 3 | Obligations of U.S. states and their political subdivisions    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 4 4
Assets supporting experience-rated contractholder liabilities 0 0
Fair Value, Measurements, Recurring | Level 3 | Foreign government bonds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 11 11
Assets supporting experience-rated contractholder liabilities 19 19
Fair Value, Measurements, Recurring | Level 3 | U.S. public corporate securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 64 69
Fair Value, Measurements, Recurring | Level 3 | U.S. private corporate securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 2,202 2,248
Fair Value, Measurements, Recurring | Level 3 | Foreign public corporate securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 144 153
Fair Value, Measurements, Recurring | Level 3 | Foreign private corporate securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 2,867 2,865
Fair Value, Measurements, Recurring | Level 3 | Corporate securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assets supporting experience-rated contractholder liabilities 538 482
Fair Value, Measurements, Recurring | Level 3 | Asset-backed securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 709 523
Assets supporting experience-rated contractholder liabilities 219 114
Fair Value, Measurements, Recurring | Level 3 | Commercial mortgage-backed securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 10 9
Assets supporting experience-rated contractholder liabilities 0 0
Fair Value, Measurements, Recurring | Level 3 | Residential mortgage-backed securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 111 11
Assets supporting experience-rated contractholder liabilities 0 0
Fair Value, Measurements, Recurring | Level 3 | Equity securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assets supporting experience-rated contractholder liabilities 0 0
Fair Value, Measurements, Recurring | Level 3 | All other    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assets supporting experience-rated contractholder liabilities 20 20
Prudential Netting Agreement | U.S. private corporate securities | Fixed maturities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fixed maturities, available-for-sale 5,774 6,100
Debt Securities, Available-for-sale, Amortized Cost 5,766 5,966
Other invested assets    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair value investment measured at NAV per share 4,379 4,136
Separate account assets    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair value investment measured at NAV per share $ 23,538 $ 23,007
[1] See Note 4 for details of balances associated with variable interest entities.