STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions |
12 Months Ended |
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
| Statement of Cash Flows [Abstract] |
|
|
|
| Net earnings (loss) |
$ (56)
|
$ (17)
|
$ (5)
|
| Adjustments to reconcile net earnings (loss) to net cash provided by (used in) operating activities: |
|
|
|
| Interest credited to policyholders’ account balances |
69
|
36
|
39
|
| Universal life and investment-type product policy fee income |
(196)
|
(152)
|
(91)
|
| (Income) loss from derivative instruments |
(18)
|
9
|
(13)
|
| Investment (gains) losses, net |
4
|
1
|
6
|
| Dividends from AB Units |
5
|
5
|
5
|
| Equity in earnings from AB |
(6)
|
(5)
|
(1)
|
| Amortization of deferred reinsurance costs |
7
|
8
|
8
|
| Deferred policy acquisition costs and value of business acquired |
(1)
|
(73)
|
(64)
|
| Future policy benefits |
(4)
|
10
|
28
|
| Current and deferred income taxes |
(26)
|
(13)
|
(67)
|
| Other, net |
31
|
0
|
(22)
|
| Net cash provided by (used in) operating activities |
(191)
|
(191)
|
(177)
|
| Cash flows from investing activities: |
|
|
|
| Fixed maturities, available for sale |
128
|
105
|
166
|
| Mortgage loans on real estate |
0
|
0
|
31
|
| Fixed maturities, available for sale |
(333)
|
(153)
|
(314)
|
| Mortgage loans on real estate |
(17)
|
0
|
0
|
| Cash settlement related to derivative instruments |
(13)
|
(7)
|
1
|
| Change in policy loans |
(17)
|
(9)
|
(9)
|
| Other, net |
(3)
|
(3)
|
(37)
|
| Net cash provided by (used in) investing activities |
(255)
|
(67)
|
(162)
|
| Cash flows from financing activities: |
|
|
|
| Deposits |
455
|
445
|
297
|
| Withdrawals |
(59)
|
(20)
|
(16)
|
| Transfer (to) from Separate Accounts |
(20)
|
(38)
|
(41)
|
| Change in collateralized pledged liabilities |
32
|
0
|
7
|
| Net cash provided by (used in) financing activities |
408
|
387
|
247
|
| Change in cash and cash equivalents |
(38)
|
129
|
(92)
|
| Cash and cash equivalents, beginning of year |
176
|
47
|
139
|
| Cash and Cash Equivalents, End of Year |
138
|
176
|
47
|
| Schedule of non-cash financing activities: |
|
|
|
| Non-cash asset acquisition |
7
|
0
|
0
|
| Share-based Programs |
3
|
3
|
2
|
| Income taxes (refunded) paid |
$ (7)
|
$ 1
|
$ 63
|