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Fair Value Measurements - Changes in balances of Level 3 financial assets carried at fair value (Details) - USD ($) $ in Millions | 3 Months Ended
--- | ---
Mar. 31, 2021 | Mar. 31, 2020
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |
Financial assets, Beginning Balance | $ 3,706 | $ 3,841
Total realized/unrealized gains (losses) included in Net income | 126 | (43)
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | (45) | (48)
Purchases and issuances | 351 | 202
Sales and settlements | (247) | (223)
Transfer into Level 3 | 51 | 195
Transfer out of Level 3 | (293) | (411)
Financial assets, Ending Balance | 3,649 | 3,513
Fixed maturities |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |
Financial assets, Beginning Balance | 538 | 571
Total realized/unrealized gains (losses) included in Net income | (1) | (6)
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | (2) | (4)
Purchases and issuances | 142 | 46
Sales and settlements | (42) | (49)
Transfer into Level 3 | 19 | 53
Transfer out of Level 3 | (52) | (66)
Financial assets, Ending Balance | 602 | 545
U.S. government agency |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |
Financial assets, Beginning Balance | 0 | 0
Total realized/unrealized gains (losses) included in Net income | 0 | 0
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | 0 | 0
Purchases and issuances | 0 | 0
Sales and settlements | 0 | 0
Transfer into Level 3 | 0 | 0
Transfer out of Level 3 | 0 | 0
Financial assets, Ending Balance | 0 | 0
State and municipal |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |
Financial assets, Beginning Balance | 39 | 40
Total realized/unrealized gains (losses) included in Net income | 0 | 0
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | 0 | 1
Purchases and issuances | 0 | 0
Sales and settlements | 0 | 0
Transfer into Level 3 | 0 | 0
Transfer out of Level 3 | 0 | 0
Financial assets, Ending Balance | 39 | 41
Residential MBS |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |
Financial assets, Beginning Balance | 38 | 45
Total realized/unrealized gains (losses) included in Net income | (3) | 1
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | 0 | (2)
Purchases and issuances | 6 | 0
Sales and settlements | 0 | (1)
Transfer into Level 3 | 3 | 1
Transfer out of Level 3 | (17) | 0
Financial assets, Ending Balance | 27 | 44
Commercial MBS |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |
Financial assets, Beginning Balance | 2 | 6
Total realized/unrealized gains (losses) included in Net income | 0 | 0
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | 0 | 0
Purchases and issuances | 0 | 0
Sales and settlements | 0 | 0
Transfer into Level 3 | 0 | 0
Transfer out of Level 3 | (2) | 0
Financial assets, Ending Balance | 0 | 6
Collateralized loan obligations |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |
Financial assets, Beginning Balance | 16 | 1
Total realized/unrealized gains (losses) included in Net income | 1 | 0
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | (1) | 0
Purchases and issuances | 0 | 0
Sales and settlements | (1) | 0
Transfer into Level 3 | 0 | 43
Transfer out of Level 3 | (9) | 0
Financial assets, Ending Balance | 6 | 44
Other asset-backed securities |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |
Financial assets, Beginning Balance | 305 | 256
Total realized/unrealized gains (losses) included in Net income | 0 | (6)
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | 0 | 0
Purchases and issuances | 52 | 22
Sales and settlements | (23) | (41)
Transfer into Level 3 | 14 | 7
Transfer out of Level 3 | (22) | 0
Financial assets, Ending Balance | 326 | 238
Corporate and other |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |
Financial assets, Beginning Balance | 138 | 223
Total realized/unrealized gains (losses) included in Net income | 1 | (1)
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | (1) | (3)
Purchases and issuances | 84 | 24
Sales and settlements | (18) | (7)
Transfer into Level 3 | 2 | 2
Transfer out of Level 3 | (2) | (66)
Financial assets, Ending Balance | 204 | 172
Equity securities |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |
Financial assets, Beginning Balance | 176 | 161
Total realized/unrealized gains (losses) included in Net income | 53 | (18)
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | 0 | 0
Purchases and issuances | 12 | 3
Sales and settlements | (14) | 0
Transfer into Level 3 | 0 | 9
Transfer out of Level 3 | 0 | 0
Financial assets, Ending Balance | 227 | 155
Assets of MIE |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |
Financial assets, Beginning Balance | 21 | 17
Total realized/unrealized gains (losses) included in Net income | 4 | (1)
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | 0 | 0
Purchases and issuances | 1 | 0
Sales and settlements | 0 | 0
Transfer into Level 3 | 0 | 0
Transfer out of Level 3 | (12) | 0
Financial assets, Ending Balance | 14 | 16
Assets of discontinued annuity operations | Annuity subsidiaries |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |
Financial assets, Beginning Balance | 2,971 | 3,092
Total realized/unrealized gains (losses) included in Net income | 70 | (18)
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | (43) | (44)
Purchases and issuances | 196 | 153
Sales and settlements | (191) | (174)
Transfer into Level 3 | 32 | 133
Transfer out of Level 3 | (229) | (345)
Financial assets, Ending Balance | $ 2,806 | $ 2,797

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- Definition Amount of gain (loss) recognized in income from asset measured at fair value on recurring basis using unobservable input (level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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