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Goodwill and Specifically Identifiable Intangible Assets | 12 Months Ended
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Dec. 31, 2017
Goodwill and Specifically Identifiable Intangible Assets [Abstract] |
Goodwill and Specifically Identifiable Intangible Assets | ﻿ 10. Goodwill and Specifically Identifiable Intangible Assets ﻿ The changes in the carrying amount of goodwill (in millions) by reportable segment were as follows: ﻿ ﻿
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿ |  | For the Year Ended December 31, 2017 |  |
﻿ | Gross | Accumulated |  |  |  |  |  |  |
﻿ | Goodwill | Impairment |  |  |  |  |  | Net |
﻿ | as of | as of |  |  |  |  | Goodwill |  |
﻿ | Beginning- | Beginning- |  |  |  |  | as of End- |  |
﻿ |  | of-Year |  |  | of-Year |  |  | Impairment |  |  | of-Year |  |
﻿Annuities |  | $ | 1,040 |  |  | $ | (600 | ) |  | $ | - |  |  | $ | 440 |  |
﻿Retirement Plan Services |  |  | 20 |  |  |  | - |  |  |  | - |  |  |  | 20 |  |
﻿Life Insurance |  |  | 2,188 |  |  |  | (649 | ) |  |  | (905 | ) |  |  | 634 |  |
﻿Group Protection |  |  | 274 |  |  |  | - |  |  |  | - |  |  |  | 274 |  |
﻿Total goodwill |  | $ | 3,522 |  |  | $ | (1,249 | ) |  | $ | (905 | ) |  | $ | 1,368 |  |
﻿ ﻿ ﻿ ﻿
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿ |  | For the Year Ended December 31, 2016 |  |
﻿ |  | Gross | Accumulated |  |  |  |  |  |  |
﻿ |  | Goodwill | Impairment |  |  |  |  |  | Net |  |
﻿ |  | as of | as of |  |  |  |  | Goodwill |  |
﻿ |  | Beginning- | Beginning- |  |  |  |  | as of End- |  |
﻿ |  | of-Year |  |  | of-Year |  |  | Impairment |  |  | of-Year |  |
﻿Annuities |  | $ | 1,040 |  |  | $ | (600 | ) |  | $ | - |  |  | $ | 440 |  |
﻿Retirement Plan Services |  |  | 20 |  |  |  | - |  |  |  | - |  |  |  | 20 |  |
﻿Life Insurance |  |  | 2,188 |  |  |  | (649 | ) |  |  | - |  |  |  | 1,539 |  |
﻿Group Protection |  |  | 274 |  |  |  | - |  |  |  | - |  |  |  | 274 |  |
﻿Total goodwill |  | $ | 3,522 |  |  | $ | (1,249 | ) |  | $ | - |  |  | $ | 2,273 |  |
﻿ The fair values of our reporting units (Level 3 fair value estimates) are comprised of the value of in-force (i.e., existing) business and the value of new business. Specifically, new business is representative of cash flows and profitability associated with policies or contracts we expect to issue in the future, reflecting our forecasts of future sales volume and product mix over a 10-year period. To determine the values of in-force and new business, we use a discounted cash flows technique that applies a discount rate reflecting the market expected, weighted-average rate of return adjusted for the risk factors associated with operations to the projected future cash flows for each reporting unit. ﻿ As of October 1, 2017, the date of our annual quantitative assessment of goodwill, our Annuities, Retirement Plan Services and Group Protection reporting units had fair values that exceeded the carrying value of each reporting unit. As discussed in Note 2, our early adoption of ASU 2017-04, “Simplifying the Test for Goodwill Impairment,” resulted in impairment of the Life Insurance reporting unit goodwill of $905 million during the fourth quarter of 2017 driven primarily from the impact of the December 22, 2017, enactment of the Tax Act that increased the carrying value of the Life Insurance reporting unit in excess of its fair value. ﻿ The gross carrying amounts and accumulated amortization (in millions) for each major specifically identifiable intangible asset class by reportable segment were as follows: ﻿ ﻿
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿ |  |  |
﻿ | As of December 31, 2017 |  |  | As of December 31, 2016 |  |
﻿ | Gross |  |  |  |  |  |  | Gross |  |  |  |  |
﻿ | Carrying |  | Accumulated |  | Carrying |  | Accumulated |
﻿ | Amount |  | Amortization |  | Amount |  | Amortization |
﻿Life Insurance: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Sales force | $ | 100 |  |  | $ | 47 |  |  | $ | 100 |  |  | $ | 43 |  |
﻿Retirement Plan Services: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Mutual fund contract rights (1) |  | 5 |  |  |  | - |  |  |  | 5 |  |  |  | - |  |
﻿Total | $ | 105 |  |  | $ | 47 |  |  | $ | 105 |  |  | $ | 43 |  |
﻿
| (1) |  | No amortization recorded as the intangible asset has indefinite life.
﻿ Future estimated amortization of specifically identifiable intangible assets (in m illions) as of December 31, 2017, was as follows: ﻿ ﻿
﻿ |  |  |
﻿ |  |  |
﻿2018 | $ | 4 |
﻿2019 |  | 4 |
﻿2020 |  | 4 |
﻿2021 |  | 4 |
﻿2022 |  | 4 |
﻿Thereafter |  | 33 |
﻿

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- Definition The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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