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Equity | 3 Months Ended
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Mar. 31, 2022
Stockholders' Equity Note [Abstract] |
Stockholders' Equity Note Disclosure [Text Block] | Equity Common stock The changes in number of common stock shares issued, held in treasury and outstanding are as follows for the periods indicated:
|  | Issued |  | Held In Treasury |  | Outstanding
Balance, December 31, 2021 |  | 85,310,598 |  |  | 18,139,868 |  |  | 67,170,730 |
Common stock acquired |  | — |  |  | 219,116 |  |  | (219,116) |
Stock-based compensation (1) |  | — |  |  | (36,639) |  |  | 36,639 |
Balance, March 31, 2022 |  | 85,310,598 |  |  | 18,322,345 |  |  | 66,988,253 |
|  | Issued |  | Held In Treasury |  | Outstanding
Balance, December 31, 2020 |  | 85,310,598 |  |  | 17,353,697 |  |  | 67,956,901 |
Common Stock acquired |  | — |  |  | — |  |  | — |
Stock-based compensation (1) |  | — |  |  | (28,342) |  |  | 28,342 |
Balance, March 31, 2021 |  | 85,310,598 |  |  | 17,325,355 |  |  | 67,985,243 |
(1)Represents net shares issued from treasury pursuant to the Company’s equity-based compensation programs. Common Stock Held in Treasury Common stock held in treasury is accounted for at average cost. Gains resulting from the reissuance of common stock held in treasury are credited to additional paid-in capital. Losses resulting from the reissuance of common stock held in treasury are charged first to additional paid-in capital to the extent the Company has previously recorded gains on treasury share transactions, then to retained earnings. On January 24, 2019, RGA’s board of directors authorized a share repurchase program for up to $400 million of RGA’s outstanding common stock. During the three months ended March 31, 2022, RGA repurchased 219,116 shares of common stock under this program for $25 million. On February 25, 2022, RGA’s board of directors authorized a share repurchase program for up to $400 million of RGA’s outstanding common stock. The authorization was effective immediately and does not have an expiration date. In connection with this authorization, the board of directors terminated the stock repurchase authority granted in 2019. During the three months ended March 31, 2022, RGA did not repurchase any shares of common stock under this program. Noncontrolling Interest In 2022, Papara Financing LLC (“Papara”), a subsidiary of RGA Reinsurance Company, issued nonconvertible preferred interests to an unaffiliated third party. Papara holds investments in mortgage loans on real estate. The membership interests in Papara consist of (1) common interests, which are held by RGA Reinsurance Company and (2) preferred interests. The preferred interests total $90 million and pay an initial preferred distribution at an annual rate of 2.375% plus three month LIBOR. The applicable rate of interest is reset every five years. Distributions are paid quarterly, if declared by Papara. RGA can call the Papara preferred interests at the issue price beginning five years from the issuance date or upon the receipt of proceeds from the sale of the underlying assets. The holders of the Papara preferred interests have the option to require redemption upon the occurrence of certain contingent events, such as the failure of Papara to pay the preferred distribution for two or more periods or to meet certain other requirements, including a minimum credit rating. If notice is given upon such an event, all other holders of equal or more subordinate classes of membership interests in Papara are entitled to receive the same form of consideration payable to the holders of the preferred interests, resulting in a deemed liquidation for accounting purposes. The preferred interests are included in noncontrolling interest, and net income attributable to noncontrolling interest was $0.4 million for the three months ended March 31, 2022. Accumulated Other Comprehensive Income (Loss) The balance of and changes in each component of accumulated other comprehensive income (loss) (“AOCI”) for the three months ended March 31, 2022 and 2021 are as follows (dollars in millions):
|  | Accumulated Other Comprehensive Income (Loss), Net of Income Tax
|  | Accumulated Currency Translation Adjustments |  | Unrealized Appreciation (Depreciation) of Investments(1) |  | Pension and Postretirement Benefits |  | Total
Balance, December 31, 2021 |  | $ | (9) |  |  | $ | 3,701 |  |  | $ | (50) |  |  | $ | 3,642 |
Other comprehensive income (loss) before reclassifications |  | 14 |  |  | (4,888) |  |  | (1) |  |  | (4,875) |
Amounts reclassified to (from) AOCI |  | — |  |  | 138 |  |  | 1 |  |  | 139 |
Deferred income tax benefit (expense) |  | (1) |  |  | 1,040 |  |  | — |  |  | 1,039 |
Balance, March 31, 2022 |  | $ | 4 |  |  | $ | (9) |  |  | $ | (50) |  |  | $ | (55) |
|  | Accumulated Other Comprehensive Income (Loss), Net of Income Tax
|  | Accumulated Currency Translation Adjustments |  | Unrealized Appreciation (Depreciation) of Investments(1) |  | Pension and Postretirement Benefits |  | Total
Balance, December 31, 2020 |  | $ | (69) |  |  | $ | 5,500 |  |  | $ | (72) |  |  | $ | 5,359 |
Other comprehensive income (loss) before reclassifications |  | 35 |  |  | (2,947) |  |  | (1) |  |  | (2,913) |
Amounts reclassified to (from) AOCI |  | — |  |  | (113) |  |  | 1 |  |  | (112) |
Deferred income tax benefit (expense) |  | (5) |  |  | 673 |  |  | — |  |  | 668 |
Balance, March 31, 2021 |  | $ | (39) |  |  | $ | 3,113 |  |  | $ | (72) |  |  | $ | 3,002 |
(1)Includes cash flow hedges of $(81) and $(22) as of March 31, 2022 and December 31, 2021, respectively, and $(71) and $(49) as of March 31, 2021 and December 31, 2020, respectively. See Note 5 – “Derivative Instruments” for additional information on cash flow hedges. The following table presents the amounts of AOCI reclassifications for the three months ended March 31, 2022 and 2021 (dollars in millions):
|  |  |  |  |  |  |  | Amount Reclassified from AOCI |  |
|  |  |  |  |  | Three months ended March 31, |  | Affected Line Item in Statement of Income
Details about AOCI Components |  |  |  |  |  |  |  | 2022 |  | 2021 |
Net unrealized investment gains (losses): |  |  |  |  |  |  |  |  |  |  |  |
Net unrealized gains (losses) on available-for-sale securities |  |  |  |  |  |  |  | $ | (35) |  |  | $ | 157 |  |  | Investment related gains (losses), net
Cash flow hedges – Currency/Interest rate |  |  |  |  |  |  |  | (1) |  |  | (2) |  |  | (1)
Deferred policy acquisition costs attributed to unrealized gains and losses |  |  |  |  |  |  |  | (102) |  |  | (42) |  |  | (2)
Total |  |  |  |  |  |  |  | (138) |  |  | 113 |  |  |
Provision for income taxes |  |  |  |  |  |  |  | 29 |  |  | (24) |  |  |
Net unrealized gains (losses), net of tax |  |  |  |  |  |  |  | $ | (109) |  |  | $ | 89 |  |  |
Amortization of defined benefit plan items: |  |  |  |  |  |  |  |  |  |  |  |
Prior service cost (credit) |  |  |  |  |  |  |  | $ | — |  |  | $ | — |  |  | (3)
Actuarial gains (losses) |  |  |  |  |  |  |  | (1) |  |  | (1) |  |  | (3)
Total |  |  |  |  |  |  |  | (1) |  |  | (1) |  |  |
Provision for income taxes |  |  |  |  |  |  |  | — |  |  | — |  |  |
Amortization of defined benefit plans, net of tax |  |  |  |  |  |  |  | $ | (1) |  |  | $ | (1) |  |  |
Total reclassifications for the period |  |  |  |  |  |  |  | $ | (110) |  |  | $ | 88 |  |  |
(1)See Note 5 – “Derivative Instruments” for additional information on cash flow hedges. (2)This AOCI component is included in the computation of the deferred policy acquisition cost. See Note 8 – “Deferred Policy Acquisition Costs” of the 2021 Annual Report for additional details. (3)This AOCI component is included in the computation of the net periodic pension cost. See Note 10 – “Employee Benefit Plans” for additional details.

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