Prudential Financial, Inc. 5.62 (PRS) 10-K 19 Feb 21 2020 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) shares in Millions	12 Months Ended
	Dec. 31, 2020	Jan. 31, 2021	Jun. 30, 2020
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Amendment Flag	false
Document Period End Date	Dec. 31, 2020
Document Fiscal Year Focus	2020
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	FY
Document Transition Report	false
Entity File Number	001-16707
Entity Registrant Name	Prudential Financial, Inc.
Entity Central Index Key	0001137774
Entity Incorporation, State or Country Code	NJ
Entity Tax Identification Number	22-3703799
Entity Address, Address Line One	751 Broad Street
Entity Address, City or Town	Newark
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	07102
City Area Code	973
Local Phone Number	802-6000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		397
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Public Float			$ 24,030,000,000
ICFR Auditor Attestation Flag	true
Common Class A
Document Information [Line Items]
Title of 12(b) Security	Common Stock, Par Value $.01
Trading Symbol	PRU
Security Exchange Name	NYSE
5.625% Junior Subordinated Notes [Member]
Document Information [Line Items]
Title of 12(b) Security	5.625% Junior Subordinated Notes
Trading Symbol	PRS
Security Exchange Name	NYSE
4.125% Junior Subordinated Note [Domain]
Document Information [Line Items]
Title of 12(b) Security	4.125% Junior Subordinated Notes
Trading Symbol	PFH
Security Exchange Name	NYSE

Consolidated Statements of Fina

Consolidated Statements of Financial Position - USD ($) $ in Millions		Dec. 31, 2020		Dec. 31, 2019
ASSETS
Fixed maturities, available-for-sale, at fair value (allowance for credit losses: 2020-$133) (amortized cost: 2020-$354,470; 2019-$346,574)	[1]	$ 412,905		$ 391,096
Fixed maturities, held-to-maturity, at amortized cost (net of allowance for credit losses: 2020-$9) (fair value: 2020-$2,298; 2019-$2,302)	[1]	1,930	[2]	1,933
Fixed maturities, trading, at fair value (amortized cost: 2020-$3,670; 2019 – $3,917;)	[1]	3,914		3,884
Assets supporting experience-rated contractholder liabilities, at fair value	[1]	24,115		21,597
Equity securities, at fair value (cost: 2020-$5,968; 2019 – $5,560)	[1]	8,135		7,522
Commercial mortgage and other loans (net of $235 and $121 allowance for credit losses; includes $1,092 and $228 of loans measured at fair value under the fair value option at December 31, 2020 and 2019, respectively)	[1]	65,425	[2]	63,559
Policy loans		11,271		12,096
Other invested assets (2020-net of $2 allowance for credit losses; includes $6,407 and $5,646 of assets measured at fair value at December 31, 2020 and 2019, respectively)	[1]	18,125	[2]	15,606
Short-term investments (2020-net of $1 allowance for credit losses)		7,800		5,467
Total investments		553,620		522,760
Cash and cash equivalents	[1]	13,701		16,327
Accrued investment income	[1]	3,193		3,330
Deferred policy acquisition cost		19,027	[2]	19,912
Value of business acquired		1,103		1,110
Other assets (2020-net of $11 allowance for credit losses)	[1]	22,801	[2]	20,832
Separate account assets		327,277		312,281
TOTAL ASSETS		940,722		896,552
LIABILITIES
Future policy benefits		306,343		293,527
Policyholders’ account balances		161,682		152,110
Policyholder's dividends		9,524		6,988
Securities sold under agreements to repurchase		10,894	[2]	9,681
Cash collateral for loaned securities		3,499		4,213
Income taxes		12,022		11,378
Short-term debt		925	[2]	1,933
Long-term debt		19,718		18,646
Other liabilities (2020-net of $20 allowance for credit losses)		20,323		20,802
Separate account liabilities		327,277		312,281
Total liabilities		872,512		832,833
COMMITMENTS AND CONTINGENT LIABILITIES
EQUITY
Preferred Stock ($0.01 par value; 10,000,000 shares authorized; none issued)		0		0
Common Stock ($0.01 par value; 1,500,000,000 shares authorized; 666,305,189 shares issued as of both December 31, 2020 and 2019)		6		6
Additional paid-in capital		25,584		25,532
Common Stock held in treasury, at cost (269,867,738 and 267,472,781 shares at December 31, 2020 and 2019, respectively)		(19,652)		(19,453)
Accumulated other comprehensive income (loss)		30,738		24,039
Retained earnings		30,749		32,991
Total Prudential Financial, Inc. equity		67,425		63,115
Noncontrolling interests		785		604
Total equity		68,210		63,719
TOTAL LIABILITIES AND EQUITY		940,722		896,552
Consolidated VIEs for Which the Company is the Investment Manager
ASSETS
TOTAL ASSETS		4,292		5,048
LIABILITIES
Total liabilities		561		1,578
Notes issued by consolidated VIEs | Consolidated VIEs for Which the Company is the Investment Manager
LIABILITIES
Total liabilities		$ 305		$ 1,274
[1]	See Note 4 for details of balances associated with variable interest entities.
[2]	December 31, 2020 amounts include the impacts of the January 1, 2020 adoption of ASU 2016-13. See Note 2 for details.

Consolidated Statements of Fi_2

Consolidated Statements of Financial Position (Parenthetical) - USD ($) $ in Millions		Dec. 31, 2020		Dec. 31, 2019
Fixed Maturities, AFS, allowance for credit losses		$ 133
Debt Securities, Available-for-sale, Amortized Cost		354,470		$ 346,574
Fixed Maturities, HTM, allowance for credit losses		9
Fixed maturities, held-to-maturity, fair value		2,298		2,302
Fixed Maturities, Trading, Amortized Cost		3,670		3,917
Available-for-sale Equity Securities, Amortized Cost Basis		5,968		5,560
Comm mtg and other loans, allowance for credit losses		235		121
Commercial mortgage and other loans	[2]	65,425	[1]	63,559
Other invested assets, allowance for credit losses	[2]	18,125	[1]	15,606
Short term investments, allowance for credit losses		7,800
Other liabilities, allowance for credit losses		20,323		20,802
Notes issued by consolidated VIEs		$ 872,512		$ 832,833
Preferred Stock, par value (in dollars per share)		$ 0.01		$ 0.01
Preferred Stock, Shares Authorized		10,000,000		10,000,000
Preferred Stock, Shares Issued		0		0
Common Stock, par value (in dollars per share)		$ 0.01		$ 0.01
Common Stock, Shares Authorized		1,500,000,000		1,500,000,000
Common Stock, Shares, Issued		666,305,189		666,305,189
Treasury Stock, Shares		269,867,738		267,472,781
ASU 2016-13
Other assets, allowance for credit losses		$ 11
Other liabilities, allowance for credit losses		20
Leveraged lease loans
Other invested assets, at fair value		6,407		$ 5,646
Other invested assets, allowance for credit losses		2
Fair value option
Commercial mortgage and other loans		1,092		228
Notes issued by consolidated VIEs		$ 0		$ 800
[1]	December 31, 2020 amounts include the impacts of the January 1, 2020 adoption of ASU 2016-13. See Note 2 for details.
[2]	See Note 4 for details of balances associated with variable interest entities.

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
REVENUES
Premiums	$ 31,140	$ 34,202	$ 35,779
Policy charges and fee income	6,029	5,978	6,002
Net investment income	17,410	17,585	16,176
Asset management and service fees	4,391	4,239	4,100
Other income (loss)	1,950	3,262	(1,042)
Realized investment gains (losses), net	(3,887)	(459)	1,977
Total revenues	57,033	64,807	62,992
BENEFITS AND EXPENSES
Policyholders’ benefits	35,059	36,820	39,404
Interest credited to policyholders’ account balances	4,538	4,880	3,196
Dividends to policyholders	1,625	2,274	1,336
Amortization of deferred policy acquisition costs	2,221	2,332	2,273
General and administrative expenses	13,913	13,416	11,949
Total benefits and expenses	57,356	59,722	58,158
Income (loss) before income taxes and equity in earnings of operating joint ventures	(323)	5,085	4,834
Total income tax expense (benefit)	(81)	947	822
INCOME (LOSS) BEFORE EQUITY IN EARNINGS OF OPERATING JOINT VENTURES	(242)	4,138	4,012
Equity in earnings of operating joint ventures, net of taxes	96	100	76
NET INCOME (LOSS)	(146)	4,238	4,088
Less: Income (loss) attributable to noncontrolling interests	228	52	14
NET INCOME (LOSS) ATTRIBUTABLE TO PRUDENTIAL FINANCIAL, INC.	$ (374)	$ 4,186	$ 4,074
Basic earnings per share-Common Stock:
Net income (loss) attributable to Prudential Financial, Inc. (in dollars per share)	$ (1)	$ 10.23	$ 9.64
Diluted earnings per share-Common Stock:
Net income (loss) attributable to Prudential Financial, Inc. (in dollars per share)	(1)	10.11	9.50
Dividends declared per share of Common Stock (in dollars per share)	$ 4.40	$ 4	$ 3.60

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of Comprehensive Income [Abstract]
NET INCOME (LOSS)	$ (146)	$ 4,238	$ 4,088
Other comprehensive income (loss), before tax:
Foreign currency translation adjustments for the period	523	67	(68)
Net unrealized investment gains (losses)	7,229	17,195	(8,393)
Defined benefit pension and postretirement unrecognized periodic benefit (cost)	210	(322)	(320)
Total	7,962	16,940	(8,781)
Less: Income tax expense (benefit) related to other comprehensive income (loss)	1,252	3,811	(1,812)
Other comprehensive income (loss), net of taxes	6,710	13,129	(6,969)
Comprehensive income (loss)	6,564	17,367	(2,881)
Less: Comprehensive income (loss) attributable to noncontrolling interests	239	55	19
Comprehensive income (loss) attributable to Prudential Financial, Inc.	$ 6,325	$ 17,312	$ (2,900)

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) $ in Millions	Total	Cumulative Effect, Period of Adoption, Adjustment		ASU 2016-01	ASU 2018-02	Common Stock	Additional Paid-in Capital	Retained Earnings	Retained EarningsCumulative Effect, Period of Adoption, Adjustment		Retained EarningsASU 2016-01	Retained EarningsASU 2018-02	Common Stock Held in TreasuryCommon Stock	Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss)Cumulative Effect, Period of Adoption, Adjustment	[1]	Accumulated Other Comprehensive Income (Loss)ASU 2016-01	Accumulated Other Comprehensive Income (Loss)ASU 2018-02	Total Prudential Financial, Inc. Equity	Total Prudential Financial, Inc. EquityCumulative Effect, Period of Adoption, Adjustment		Total Prudential Financial, Inc. EquityASU 2016-01	Total Prudential Financial, Inc. EquityASU 2018-02	Noncontrolling Interests
Balance at Dec. 31, 2017	$ 54,511			$ 57	$ 0	$ 6	$ 24,769	$ 28,671			$ 904	$ (1,653)	$ (16,284)	$ 17,074			$ (847)	$ 1,653	$ 54,236			$ 57	$ 0	$ 275
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common Stock acquired	(1,500)												(1,500)						(1,500)
Contributions from noncontrolling interests	147																							147
Distributions to noncontrolling interests	(27)																							(27)
Stock-based compensation programs	250						59						191						250
Dividends declared on Common Stock	(1,526)							(1,526)											(1,526)
Comprehensive income:
Net income (loss)	4,088							4,074											4,074					14
Other comprehensive income (loss), net of tax	(6,969)													(6,974)					(6,974)					5
Total comprehensive income (loss)	(2,881)																		(2,900)					19
Balance at Dec. 31, 2018	49,031	$ (14)	[1]			6	24,828	30,470	$ (21)	[1]			(17,593)	10,906	$ 7				48,617	$ (14)	[1]			414
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common Stock acquired	(2,500)												(2,500)						(2,500)
Exchangeable Surplus Notes conversion	502						502												502
Assurance IQ acquisition	454						79						375						454
Contributions from noncontrolling interests	208																							208
Distributions to noncontrolling interests	(82)																							(82)
Consolidations/(deconsolidations) of noncontrolling interests	9																							9
Stock-based compensation programs	388						123						265						388
Dividends declared on Common Stock	(1,644)							(1,644)											(1,644)
Comprehensive income:
Net income (loss)	4,238							4,186											4,186					52
Other comprehensive income (loss), net of tax	13,129													13,126					13,126					3
Total comprehensive income (loss)	17,367																		17,312					55
Balance at Dec. 31, 2019	63,719	$ (99)	[2]			6	25,532	32,991	$ (99)	[2]			(19,453)	24,039					63,115	$ (99)	[2]			604
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common Stock acquired	(500)												(500)						(500)
Contributions from noncontrolling interests	100																							100
Distributions to noncontrolling interests	(53)																							(53)
Consolidations/(deconsolidations) of noncontrolling interests	(105)																							(105)
Stock-based compensation programs	353						52						301						353
Dividends declared on Common Stock	(1,769)							(1,769)											(1,769)
Comprehensive income:
Net income (loss)	(146)							(374)											(374)					228
Other comprehensive income (loss), net of tax	6,710													6,699					6,699					11
Total comprehensive income (loss)	6,564																		6,325					239
Balance at Dec. 31, 2020	$ 68,210					$ 6	$ 25,584	$ 30,749					$ (19,652)	$ 30,738					$ 67,425					$ 785
[1]	Includes the impact from the adoption of ASU 2017-08 and 2017-12.
[2]	Includes the impact from the adoption of ASU 2016-13. See Note 2.

Consolidated Statements of Cash

Consolidated Statements of Cash Flows $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)		Dec. 31, 2019USD ($)		Dec. 31, 2018USD ($)
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$ (146)		$ 4,238		$ 4,088
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Realized investment (gains) losses, net	3,887		459		(1,977)
Policy charges and fee income	(2,652)		(2,616)		(2,248)
Interest credited to policyholders’ account balances	4,538		4,880		3,196
Depreciation and amortization	457		460		161
(Gains) losses on assets supporting experience-rated contractholder liabilities, net	(743)		(971)		863
Change in:
Deferred policy acquisition costs	(542)		(634)		(597)
Future policy benefits and other insurance liabilities	10,817		10,992		16,481
Income taxes	(424)		(339)		49
Derivatives, net	(2,940)		1,485		968
Other, net	(3,884)		1,671		680
Cash flows from (used in) operating activities	8,368		19,625		21,664
Proceeds from the sale/maturity/prepayment of:
Fixed maturities, available-for-sale	44,106		52,306		59,675
Fixed maturities, held-to-maturity	88		100		94
Fixed maturities, trading	690		363		623
Assets supporting experience-rated contractholder liabilities	29,162		15,281		27,383
Equity securities	2,704		2,708		3,771
Commercial mortgage and other loans	5,447		6,525		6,474
Policy loans	2,528		2,279		2,309
Other invested assets	1,815		1,783		1,549
Short-term investments	47,339		38,095		33,846
Payments for the purchase/origination of:
Fixed maturities, available-for-sale	(56,523)		(64,570)		(77,234)
Fixed maturities, held-to-maturity	0		0		(9)
Fixed maturities, trading	(1,413)		(876)		(1,080)
Assets supporting experience-rated contractholder liabilities	(30,822)		(14,613)		(27,315)
Equity securities	(3,168)		(2,813)		(3,254)
Commercial mortgage and other loans	(6,107)		(10,677)		(10,328)
Policy loans	(1,956)		(1,931)		(1,970)
Other invested assets	(2,760)		(2,557)		(2,664)
Short-term investments	(49,802)		(37,286)		(33,336)
Acquisitions, net of cash acquired	0		(1,755)		0
Dispositions, net of cash disposed	1,454		0		0
Derivatives, net	1,286		1,047		26
Other, net	(278)		(437)		(188)
Cash flows from (used in) investing activities	(16,210)		(17,028)		(21,628)
CASH FLOWS FROM FINANCING ACTIVITIES
Policyholders’ account deposits	41,424		27,485		28,791
Policyholders’ account withdrawals	(34,701)		(26,662)		(27,287)
Net change in securities sold under agreements to repurchase and cash collateral for loaned securities	499		16		1,125
Cash dividends paid on Common Stock	(1,766)		(1,641)		(1,521)
Net change in financing arrangements (maturities 90 days or less)	(21)		(181)		199
Common Stock acquired	(500)		(2,500)		(1,500)
Common Stock reissued for exercise of stock options	153		133		132
Proceeds from the issuance of debt (maturities longer than 90 days)	3,013		2,993		2,934
Repayments of debt (maturities longer than 90 days)	(2,743)		(1,429)		(1,810)
Proceeds from notes issued by consolidated VIEs	0		971		0
Repayments of notes issued by consolidated VIEs	(19)		(638)		0
Other, net	(456)		(181)		(282)
Cash flows from (used in) financing activities	4,883		(1,634)		781
Effect of foreign exchange rate changes on cash balances	340		16		142
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, RESTRICTED CASH AND RESTRICTED CASH EQUIVALENTS	(2,619)		979		959
CASH, CASH EQUIVALENTS, RESTRICTED CASH AND RESTRICTED CASH EQUIVALENTS, BEGINNING OF YEAR	16,474		15,495		14,536
CASH, CASH EQUIVALENTS, RESTRICTED CASH AND RESTRICTED CASH EQUIVALENTS, END OF YEAR	13,855		16,474		15,495
SUPPLEMENTAL CASH FLOW INFORMATION
Income taxes paid, net of refunds	287		1,348		760
Interest paid	1,531		1,521		1,443
NON-CASH TRANSACTIONS DURING THE YEAR
Treasury Stock shares issued for stock-based compensation programs	151		197		138
Conversion of surplus notes into Common Stock	0		502		0
Treasury Stock shares issued			454
RECONCILIATION TO STATEMENTS OF FINANCIAL POSITION
Cash and cash equivalents	13,701	[1]	16,327	[1]	15,353
Restricted cash and restricted cash equivalents (included in “Other assets”)	154		147		142
Total cash, cash equivalents, restricted cash and restricted cash equivalents	13,855		16,474		15,495
Pension Risk Transfer
NON-CASH TRANSACTIONS DURING THE YEAR
Assets received, excluding cash and cash equivalents	703		3,166		816
Net cash received	346		1,166		7,579
Liabilities assumed	1,049		4,332		8,395
Acquisitions
NON-CASH TRANSACTIONS DURING THE YEAR
Assets acquired, excluding cash and cash equivalents	0		2,425		0
Treasury Stock shares issued	0		454		0
Liabilities assumed	0		216		0
Net cash paid on acquisition	$ 0		$ 1,755		$ 0
[1]	See Note 4 for details of balances associated with variable interest entities.

Business and Basis of Presentat

Business and Basis of Presentation	12 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business and Basis of Presentation	BUSINESS AND BASIS OF PRESENTATION Prudential Financial, Inc. (“Prudential Financial” or “PFI”) and its subsidiaries (collectively, “Prudential” or the “Company”) provide a wide range of insurance, investment management, and other financial products and services to both individual and institutional customers throughout the United States and in many other countries. Principal products and services provided include life insurance, annuities, retirement-related services, mutual funds and investment management. The Company’s principal operations are composed of PGIM (the Company’s global investment management business), the U.S. Businesses (consisting of the U.S. Workplace Solutions, U.S. Individual Solutions, and Assurance IQ divisions), the International Businesses, the Closed Block division, and the Company’s Corporate and Other operations. The U.S. Workplace Solutions division consists of the Retirement and Group Insurance businesses, the U.S. Individual Solutions division consists of the Individual Annuities and Individual Life businesses, and the Assurance IQ division consists of the Assurance IQ business, which the Company acquired in October 2019. The Closed Block division is accounted for as a divested business that is reported separately from the Divested and Run-off Businesses that are included in Corporate and Other. The Company’s Corporate and Other operations include corporate items and initiatives that are not allocated to business segments and businesses that have been or will be divested or placed in run-off, excluding the Closed Block division. See Note 22 to the Consolidated Financial Statements for revenues, income and loss, and total assets by segment. Basis of Presentation The Consolidated Financial Statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”). The Consolidated Financial Statements include the accounts of Prudential Financial, entities over which the Company exercises control, including majority-owned subsidiaries and minority-owned entities such as limited partnerships in which the Company is the general partner and variable interest entities (“VIEs”) in which the Company is considered the primary beneficiary. See Note 4 for additional information on the Company’s consolidated variable interest entities. Intercompany balances and transactions have been eliminated. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The most significant estimates include those used in determining deferred policy acquisition costs (“DAC”) and related amortization; policyholders’ account balances related to the fair value of embedded derivative instruments associated with the index-linked features of certain universal life and annuity products; value of business acquired (“VOBA”) and its amortization; amortization of deferred sales inducements (“DSI”); measurement of goodwill and any related impairment; valuation of investments including derivatives, measurement of allowance for credit losses, and the recognition of other-than-temporary impairments (“OTTI”); future policy benefits including guarantees; pension and other postretirement benefits; provision for income taxes and valuation of deferred tax assets; and accruals for contingent liabilities, including estimates for losses in connection with unresolved legal and regulatory matters. COVID-19 Beginning in the first quarter of 2020, the outbreak of the novel coronavirus (“COVID-19”) has resulted in extreme stress and disruption in the global economy and financial markets, and has adversely impacted, and may continue to adversely impact, the Company’s results of operations, financial condition and cash flows. Due to the highly uncertain nature of these conditions, it is not possible to estimate the ultimate impacts at this time. The risks may have manifested, and may continue to manifest, in the Company’s financial statements in the areas of, among others, i) investments: increased risk of loss on our investments due to default or deterioration in credit quality or value; ii) insurance liabilities and related balances: potential changes to assumptions regarding investment returns, mortality, morbidity and policyholder behavior which are reflected in our insurance liabilities and certain related balances (e.g., DAC, VOBA, etc.); and iii) goodwill: the macroeconomic environment may also result in the need to recognize an impairment of goodwill which could negatively impact the Company’s results of operations and financial condition. The Company cannot predict what impact the COVID-19 pandemic will ultimately have on the global economy, markets or its businesses. Reclassifications Certain amounts in prior periods have been reclassified to conform to the current period presentation. Acquisitions In October 2019, the Company completed its acquisition of Assurance IQ, as noted above. Assurance IQ is a wholly-owned subsidiary of the Company and the results of the Assurance IQ business are reported as a separate segment within the Company’s U.S. Businesses. The total purchase consideration included $2,212 million paid at closing, and $100 million of contingent consideration (see “ Assurance IQ Contingent Consideration Liability ” below). The amount paid at closing comprised $1,758 million in cash and $454 million in shares of restricted Prudential Financial Common Stock and other equity awards. In addition to the purchase consideration, the Company also granted approximately $160 million of cash and equity awards to Assurance IQ employees which are recognized as compensation expense over their requisite service periods. See Note 21 for further details on the equity awards issued as part of the transaction. The contingent consideration as well as additional compensation awards are payable in 2023 in a mix of approximately 25% cash and 75% Prudential Financial Common Stock, contingent upon Assurance IQ’s achievement of certain targets for gross revenues net of associated selling expenses (“Variable Profits”) over the period from January 1, 2020 through December 31, 2022 as follows: • If Variable Profits are less than $900 million, no additional amount is payable. • If Variable Profits are greater than $1,300 million, an additional amount of $1,150 million is payable. • If Variable Profits are greater than $900 million but less than or equal to $1,300 million, an additional amount is payable equal to the product of (i) the quotient of (A) an amount equal to (1) Variable Profits achieved minus (2) $900 million divided by (B) $400 million and (ii) $1,150 million. Payment of the additional amount may be accelerated if the Company violates certain provisions of the merger agreement requiring it to take or refrain from taking certain actions, including with respect to the management and operation of Assurance IQ. Pursuant to the merger agreement, the number of shares of Prudential Financial Common Stock issued at closing was determined based on a price per share of $83.71, which is equal to the weighted average price of Prudential Financial Common Stock for the 15 trading days before, and 15 trading days beginning on, September 4, 2019, the date of the merger agreement. The foregoing $454 million in shares of restricted Prudential Financial Common Stock and equity awards paid at closing was based on the $87.67 closing price per share of Prudential Financial Common Stock on the closing date. Assurance IQ Net Assets Acquired The assets acquired and liabilities assumed have been included in the Consolidated Financial Statements as of the acquisition date. Total assets acquired included identified intangible assets of $191 million. At the time of acquisition, the Company recognized an asset for goodwill, determined as the excess of the purchase price over the net fair value of the assets acquired and liabilities assumed, that amounted to $2,128 million, which is fully deductible for tax purposes. The value of the components within goodwill include expected revenue and cost synergies, the business model, technology capabilities, new customers, and the assembled workforce and key personnel. The valuation of the assets acquired and liabilities assumed was preliminary at the time of acquisition. In April 2020, the Company revised its purchase price allocation and adjusted the goodwill asset to $2,140 million. See Note 2 and Note 10 for additional information regarding goodwill. Assurance IQ Contingent Consideration Liability The contingent consideration liability referred to above is reported at fair value. Fair value is determined based on the present value of expected payments under the arrangement, using an internally-developed option pricing model based on a number of assumptions, including certain unobservable assumptions for future Variable Profits and the future price of Prudential Financial Common Stock. The fair value of the liability is updated each reporting period, with changes in fair value reported within “Other income.” The fair value of the contingent consideration liability was zero and $105 million as of December 31, 2020 and 2019, respectively (see Note 6 for additional information). The stock-based component of contingent consideration impacts the share count for purposes of calculating the Company’s diluted earnings per share when Assurance IQ’s actual Variable Profits achieved as of the end of the reporting period is in excess of $900 million, as if the contingent consideration performance period ended on the applicable reporting date. The number of shares issued as part of the contingent consideration payable in 2023 will be based on a $83.71 price per share. Dispositions The Prudential Life Insurance Company of Korea, Ltd. In August 2020, Prudential International Insurance Holdings, Ltd. (“PIIH”), a subsidiary of Prudential Financial, successfully completed the sale of The Prudential Life Insurance Company of Korea, Ltd. (“POK”) to KB Financial Group Inc., for cash consideration of approximately ₩2.3 trillion, equal to approximately $1.9 billion. The Company recognized an approximate $800 million after-tax loss on the transaction in 2020. Prudential Life Insurance Company of Taiwan Inc. In August 2020, PIIH entered into a Share Purchase Agreement (the “Share Purchase Agreement”) with Taishin Financial Holding Co, Ltd. (the “Buyer”), pursuant to which PIIH has agreed to sell to the Buyer all of the issued and outstanding capital stock of Prudential Life Insurance Company of Taiwan Inc. (“POT”), the Company’s insurance business in Taiwan. This transaction consists of cash consideration of approximately NT$5.5 billion, equal to approximately $195 million at current exchange rates, to be paid at closing, and contingent consideration with a fair value of approximately $15 million as of December 31, 2020. The fair value of the contingent consideration is tied to the level of yields for the 10-year Taiwanese Government bond two years after the signing of the transaction and can result in a maximum payout of $100 million if yields increase by 40 basis points. The Share Purchase Agreement contains customary warranties and covenants of PIIH and the Buyer. The Company expects the transaction to close in 2021, subject to regulatory approval and the satisfaction of customary closing conditions. As of December 31, 2020, the Company is reporting its investment in POT as “held for sale” and recognized an estimated $350 million after-tax charge to earnings to adjust the carrying value of POT to the fair market value reflected in the purchase price. The ultimate after-tax loss will be based on balances at the closing date and could vary materially from the charge recorded in 2020. The Company intends to use the proceeds of the transaction for general corporate purposes.

Significant Accounting Policies

Significant Accounting Policies and Pronouncements	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Significant Accounting Policies and Pronouncements	SIGNIFICANT ACCOUNTING POLICIES AND PRONOUNCEMENTS ASSETS Fixed maturities, available-for-sale, at fair value (“AFS debt securities”) includes bonds, notes and redeemable preferred stock that are carried at fair value. See Note 6 for additional information regarding the determination of fair value. The purchased cost of fixed maturities is adjusted for amortization of premiums and accretion of discounts to maturity or, if applicable, call date. AFS debt securities, where fair value is below amortized cost, are reviewed quarterly to determine whether the amortized cost basis of the security is recoverable. For mortgage-backed and asset-backed AFS debt securities, a credit impairment will be recognized to the extent the amortized cost exceeds the net present value of projected future cash flows (the “net present value”) for the security. For all other AFS debt securities, qualitative factors are first considered including, but not limited to, the extent of the decline and the reasons for the decline in value (e.g., credit events, currency or interest-rate related, including general credit spread widening), and the financial condition of the issuer. If analysis of these qualitative factors results in the security needing to be impaired, the credit impairment will be measured as the extent to which the amortized cost exceeds the net present value. The net present value is calculated by discounting the Company’s best estimate of projected future cash flows at the effective interest rate implicit in the AFS debt security at the date of acquisition. Credit impairment is recognized as an allowance for credit losses and reported in “Realized investment gains (losses), net.” Once the Company has deemed all or a portion of the amortized cost uncollectible, the allowance is removed from the balance sheet by writing down the amortized cost basis of the AFS debt security. The Company adopted Accounting Standards Update (“ASU”) 2016-13, and related ASUs, effective January 1, 2020. See “Recent Accounting Pronouncements” in this Note for additional information about the adoption. Prior to the adoption of ASU 2016-13, credit impairments were recognized as a direct write down to the cost basis of the security. Interest income, including amortization of premium and accretion of discount, are included in “Net investment income” under the effective yield method. Prepayment premiums are also included in “Net investment income.” For high credit quality mortgage-backed and asset-backed AFS debt securities (those rated AA or above), the amortized cost and effective yield of the securities are adjusted as necessary to reflect historical prepayment experience and changes in estimated future prepayments. The adjustments to amortized cost are recorded as a charge or credit to “Net investment income” in accordance with the retrospective method. For mortgage-backed and asset-backed AFS debt securities rated below AA, the effective yield is adjusted prospectively for any changes in the estimated timing and amount of cash flows unless the investment is purchased with credit deterioration or an allowance is currently recorded for the respective security. If an investment is impaired, any changes in the estimated timing and amount of cash flows will be recorded as the credit impairment, as opposed to a yield adjustment. If the asset is purchased with credit deterioration (or previously impaired), the effective yield will be adjusted if there are favorable changes in cash flows subsequent to the allowance being reduced to zero. Prior to the adoption of ASU 2016-13, the effective yield was adjusted prospectively unless an impairment was recorded in the current period. For mortgage-backed and asset-backed AFS debt securities, cash flow estimates consider the payment terms of the underlying assets backing a particular security, including interest rate and prepayment assumptions based on data from widely accepted third-party data sources or internal estimates. In addition to interest rate and prepayment assumptions, cash flow estimates also include other assumptions regarding the underlying collateral including default rates and recoveries, which vary based on the asset type and geographic location, as well as the vintage year of the security. These assumptions can significantly impact income recognition and the amount of impairment recognized in earnings and other comprehensive income (loss) (“OCI”). The payment priority of the respective security is also considered. For all other AFS debt securities, cash flow estimates are driven by assumptions regarding probability of default and estimates regarding timing and amount of recoveries associated with a default. The Company has developed these estimates using information based on its historical experience as well as using market observable data, such as industry analyst reports and forecasts, sector credit ratings and other data relevant to the collectability of a security, such as the general payment terms of the security and the security’s position within the capital structure of the issuer. The Company may use the estimated fair value of collateral, if any, as a proxy for the net present value if it believes that the security is dependent on the liquidation of collateral for recovery of its investment. If the net present value is less than the amortized cost of the investment, an allowance for losses is recognized in earnings for the difference between amortized cost and the net present value and is limited to the difference between amortized cost and fair value of the AFS debt security. Any difference between the fair value and the net present value of the debt security at the impairment measurement date remains in OCI. Changes in the allowance for losses are reported in “Realized investment gains (losses), net.” When an AFS debt security’s fair value is below amortized cost and (1) the Company has the intent to sell the AFS debt security, or (2) it is more likely than not the Company will be required to sell the AFS debt security before its anticipated recovery, the amortized cost basis of the AFS debt security is written down to fair value and any previously recognized allowance is reversed. The impairment is reported in “Realized investment gains (losses), net.” The associated unrealized gains and losses, net of tax, and the effect on DAC, VOBA, DSI, future policy benefits, policyholders’ account balances and policyholders’ dividends that would result from the realization of unrealized gains and losses, are included in “Accumulated other comprehensive income (loss)” (“AOCI”). Each of these balances is discussed in greater detail below. Fixed maturities, held-to-maturity, at amortized cost includes bonds that the Company has both the positive intent and ability to hold to maturity, and are carried at amortized cost, net of the current expected credit loss (“CECL”) allowance (“HTM debt securities”). Interest income for HTM debt securities is computed in the same manner as interest income for AFS debt securities, both prior to and after the adoption of ASU 2016-13. Credit impairment for HTM debt securities is recorded through a CECL allowance. The CECL allowance is generally determined based on probability of default and loss given default assumptions according to sector, credit quality and remaining time to maturity. Changes in the allowance are reported in “Realized investment gains (losses), net.” Once the Company has deemed all or a portion of the amortized cost uncollectible, the uncollectible portion of the allowance is removed from the balance sheet by writing down the amortized cost basis of the security. Prior to the adoption of ASU 2016-13, credit impairments were recognized as a direct write down to the cost basis of the security and the credit impairment recognized was measured based upon the net present value of expected cash flows. The CECL allowance represents the Company’s best estimate of expected credit losses over the remaining life of the assets. The determination of the allowance considers historical credit loss experience, current conditions, and reasonable and supportable forecasts. The allowance is calculated separately for each HTM debt security. Key inputs to the CECL model include unpaid principal balances, credit ratings, annual expected loss factors, average life adjusted for prepayment considerations, current and historical interest rate assumptions, and other factors influencing the Company’s view of the current stage of the economic cycle and future economic conditions. Subjective considerations include a review of whether historical loss experience is representative of current market conditions and the Company’s view of the credit cycle. Model assumptions and factors are reviewed and updated as appropriate. Fixed maturities, trading, at fair value consists of fixed maturities with embedded features that are considered derivatives and assets contained within consolidated variable interest entities. Realized and unrealized gains and losses on these investments are reported in “Other income (loss),” and interest and dividend income from these investments is reported in “Net investment income.” Assets supporting experience-rated contractholder liabilities, at fair value includes invested assets that consist of fixed maturities, equity securities, short-term investments and cash equivalents, that support certain products included in the Retirement and International Businesses segments which are experience-rated, meaning that the investment results associated with these products are expected to ultimately accrue to contractholders. Realized and unrealized gains and losses for these investments are reported in “Other income (loss).” Interest and dividend income from these investments is reported in “Net investment income.” Equity securities, at fair value is comprised of common stock, mutual fund shares and non-redeemable preferred stock that are carried at fair value. Realized and unrealized gains and losses on these investments are reported in “Other income (loss),” and dividend income is reported in “Net investment income” on the ex-dividend date. Effective January 1, 2018, the Company adopted ASU 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Liabilities using a modified retrospective method. Adoption of this ASU impacted the Company’s accounting and presentation related to equity investments. The most significant impact is that the changes in fair value of equity securities previously classified as “available-for-sale” are reported in net income within “Other income (loss)” in the Consolidated Statements of Operations. The impact of this standard resulted in an increase to retained earnings of $904 million, a reduction to AOCI of $847 million, and an increase to equity of $57 million upon adoption on January 1, 2018. Commercial mortgage and other loans consists of commercial mortgage loans, agricultural property loans, loans backed by residential properties, as well as certain other collateralized and uncollateralized loans. Loans backed by residential properties primarily include recourse loans held by the Company’s international insurance operations. Uncollateralized loans primarily represent reverse dual currency loans and corporate loans held by the Company’s international insurance operations. Commercial mortgage and other loans originated and held for investment are generally carried at unpaid principal balance, net of unamortized deferred loan origination fees and expenses, and net of the CECL allowance. Certain off-balance sheet credit exposures (e.g., indemnification of serviced mortgage loans, and certain unfunded mortgage loan commitments where the Company cannot unconditionally cancel the commitment) are also subject to a CECL allowance. See Note 23 for additional information. The Company carries certain commercial mortgage loans originated within the Company’s commercial mortgage operations at fair value where the fair value option has been elected. Loans held for sale where the Company has not elected the fair value option are carried at the lower of cost or fair value. Commercial mortgage and other loans acquired, including those related to the acquisition of a business, are recorded at fair value when purchased, reflecting any premiums or discounts to unpaid principal balances. Interest income, and the amortization of the related premiums or discounts, are included in “Net investment income” under the effective yield method. Prepayment fees are also included in “Net investment income.” The CECL allowance represents the Company’s best estimate of expected credit losses over the remaining life of the assets or off-balance sheet credit exposures. The determination of the allowance considers historical credit loss experience, current conditions, and reasonable and supportable forecasts. Prior to the adoption of ASU 2016-13, the allowance was based upon credit losses that were probable of occurring for recognized loans, not an estimate of credit losses that may occur over the remaining life of the asset. The allowance is calculated separately for commercial mortgage loans, agricultural mortgage loans, and other collateralized and uncollateralized loans. For commercial mortgage and agricultural mortgage loans, the allowance is calculated using an internally developed CECL model. Key inputs to the CECL model include unpaid principal balances, internal credit ratings, annual expected loss factors, average lives of the loans adjusted for prepayment considerations, current and historical interest rate assumptions, and other factors influencing the Company’s view of the current stage of the economic cycle and future economic conditions. Subjective considerations include a review of whether historical loss experience is representative of current market conditions and the Company’s view of the credit cycle. Model assumptions and factors are reviewed and updated as appropriate. Information about certain key inputs is detailed below. Key factors in determining the internal credit ratings for commercial mortgage and agricultural mortgage loans include loan-to-value and debt-service-coverage ratios. Other factors include amortization, loan term, and estimated market value growth rate and volatility for the property type and region. The loan-to-value ratio compares the carrying amount of the loan to the fair value of the underlying property or properties collateralizing the loan, and is commonly expressed as a percentage. Loan-to-value ratios greater than 100% indicate that the carrying amount of the loan exceeds the collateral value. A loan-to-value ratio less than 100% indicates an excess of collateral value over the carrying amount of the loan. The debt service coverage ratio is a property’s net operating income as a percentage of its debt service payments. Debt service coverage ratios less than 1.0 times indicate that property operations do not generate enough income to cover the loan’s current debt payments. A debt service coverage ratio greater than 1.0 times indicates an excess of net operating income over the debt service payments. The values utilized in calculating these ratios are developed as part of the Company’s periodic review of the commercial mortgage loan and agricultural property loan portfolios, which includes an internal appraisal of the underlying collateral value. The Company’s periodic review also includes a quality re-rating process, whereby the internal quality rating originally assigned at underwriting is updated based on current loan, property and market information using a proprietary quality rating system. See Note 3 for additional information related to the loan-to-value ratios and debt service coverage ratios related to the Company’s commercial mortgage and agricultural loan portfolios. Annual expected loss rates are based on historical default and loss experience factors. Using average lives, the annual expected loss rates are converted into life-of-loan loss expectations. When individual loans no longer have the credit risk characteristics of the commercial or agricultural mortgage loan pools, they are removed from the pools and are evaluated individually for an allowance. The allowance is determined based on the outstanding loan balance less the present value of expected future cash flows discounted at the loan’s effective interest rate or the fair value of the collateral if the loan is collateral dependent. The CECL allowance on commercial mortgage and other loans can increase or decrease from period to period based on the factors noted above. The change in allowance is reported in “Realized investment gains (losses), net.” As it relates to unfunded commitments that are in scope of this guidance, the CECL allowance is reported in “Other liabilities,” and the change in the allowance is reported in “Realized investment gains (losses), net.” The CECL allowance for other collateralized and uncollateralized loans (e.g., corporate loans) carried at amortized cost is determined based on probability of default and loss given default assumptions by sector, credit quality and average lives of the loans. Additions to, or releases of, the allowance are reported in “Realized investment gains (losses), net.” Once the Company has deemed a portion of the amortized costs to be uncollectible, the uncollectible portion of allowance is removed from the balance sheet by writing down the amortized cost basis of the loan. The carrying amount of the loan is not adjusted for subsequent recoveries in value. Interest received on loans that are past due is either applied against the principal or reported as net investment income based on the Company’s assessment as to the collectability of the principal. The Company defines “past due” as principal or interest not collected at least 30 days past the scheduled contractual due date. See Note 3 for additional information about the Company’s past due loans. The Company discontinues accruing interest on loans after the loans become 90 days delinquent as to principal or interest payments, or earlier when the Company has doubts about collectability. When the Company discontinues accruing interest on a loan, any accrued but uncollectible interest on the loan and other loans backed by the same collateral, if any, is charged against interest income in the same period. Generally, a loan is restored to accrual status only after all delinquent interest and principal are brought current and, in the case of loans where the payment of interest has been interrupted for a substantial period, or the loan has been modified, a regular payment performance has been established. Commercial mortgage and other loans are occasionally restructured in a troubled debt restructuring (“TDR”). These restructurings generally include one or more of the following: full or partial payoffs outside of the original contract terms; changes to interest rates; extensions of maturity; or additions or modifications to covenants. Additionally, the Company may accept assets in full or partial satisfaction of the debt as part of a TDR. When restructurings occur, they are evaluated individually to determine whether the restructuring or modification constitutes a TDR as defined by authoritative accounting guidance. If the borrower is experiencing financial difficulty and the Company has granted a concession, the restructuring, including those that involve a partial payoff or the receipt of assets in full satisfaction of the debt is deemed to be a TDR. When there is a reasonable expectation that the Company will execute a TDR, all effects of the potential restructuring are considered for the estimation of the CECL allowance. When a loan is modified in a TDR, the CECL allowance of the loan is remeasured using the modified terms and the loan’s original effective yield, and the allowance is adjusted accordingly. The loan will be evaluated to determine whether the loan no longer has similar credit risk characteristics of the commercial or agricultural mortgage loan pools and need to be evaluated for an allowance on an individual basis. Subsequent to the modification, income is recognized prospectively based on the modified terms of the loan. In a TDR where the Company receives assets in full satisfaction of the debt, any CECL allowance is reversed and a direct write-down of the loan is recorded for the amount of the allowance, and any additional loss, net of recoveries, or any gain is recorded for the difference between the fair value of the assets received and the recorded investment in the loan. When assets are received in partial settlement, the same process is followed, and the remaining loan is evaluated prospectively for credit impairment based on the CECL allowance process noted above. The Company’s PGIM business provides commercial mortgage origination, underwriting and servicing for certain government sponsored entities (“GSEs”). The Company has agreed to indemnify the GSEs for a portion of the credit risk associated with certain of the mortgages it services. Management has established a CECL allowance that factors in historical loss information, current conditions and reasonable and supportable forecasts. The allowance also considers the remaining lives of the loans subject to the indemnification. The CECL allowance is included in “Other liabilities” and changes in the CECL allowance are reported in “Realized investment gains (losses), net.” See Note 23 for additional information. Prior to the adoption of ASU 2016-13, a credit loss allowance was not required. Policy loans represent funds loaned to policyholders up to the cash surrender value of the associated insurance policies and are carried at the unpaid principal balances due to the Company from the policyholders. Interest income on policy loans is recognized in “Net investment income” at the contract interest rate when earned. Policy loans are fully collateralized by the cash surrender value of the associated insurance policies. Other invested assets consists of the Company’s non-coupon investments in limited partnerships and limited liability companies (“LPs/LLCs”), other than operating joint ventures, as well as wholly-owned investment real estate, derivative assets and other investments. LPs/LLCs interests are accounted for using either the equity method of accounting, or at fair value with changes in fair value reported in “Other income (loss).” The Company’s income from investments in LPs/LLCs accounted for using the equity method, other than the Company’s investments in operating joint ventures, is included in “Net investment income.” The carrying value of these investments is written down, or impaired, to fair value when a decline in value is considered to be other-than-temporary. In applying the equity method (including assessment for OTTI), the Company uses financial information provided by the investee, generally on a one to three-month lag. The Company consolidates LPs/LLCs in certain other instances where it is deemed to exercise control, or is considered the primary beneficiary of a variable interest entity. See Note 4 for additional information about VIEs. The Company’s wholly-owned investment real estate consists of real estate which the Company has the intent to hold for the production of income as well as real estate held for sale. Real estate which the Company has the intent to hold for the production of income is carried at depreciated cost less any write-downs to fair value for impairment losses and is reviewed for impairment whenever events or circumstances indicate that the carrying value may not be recoverable. Real estate held for sale is carried at the lower of depreciated cost or fair value less estimated selling costs and is not further depreciated once classified as such. An impairment loss is recognized when the carrying value of the investment real estate exceeds the estimated undiscounted future cash flows (excluding interest charges) from the investment. At that time, the carrying value of the investment real estate is written down to fair value. Decreases in the carrying value of investment real estate held for the production of income due to OTTI are recorded in “Realized investment gains (losses), net.” Depreciation on real estate held for the production of income is computed using the straight-line method over the estimated useful lives of the properties and is included in “Net investment income.” Short-term investments primarily consist of highly liquid debt instruments with a maturity of twelve months or less and greater than three months when purchased, other than those debt instruments meeting this definition that are included in “Assets supporting experience-rated contractholder liabilities, at fair value.” These investments are generally carried at fair value or amortized cost that approximates fair value and include certain money market investments, funds managed similar to regulated money market funds, short-term debt securities issued by government-sponsored entities and other highly liquid debt instruments. Realized investment gains (losses) are computed using the specific identification method with the exception of some of the Company’s International Businesses portfolios, where the average cost method is used. Realized investment gains and losses are generated from numerous sources, including the sales of fixed maturity securities, investments in joint ventures and limited partnerships and other types of investments, as well as changes to the allowance for credit losses recognized in earnings. Realized investment gains and losses also reflect fair value changes on commercial mortgage loans carried at fair value, and fair value changes on embedded derivatives and free-standing derivatives that do not qualify for hedge accounting treatment. See “Derivative Financial Instruments” below for additional information regarding the accounting for derivatives. Cash and cash equivalents include cash on hand, amounts due from banks, certain money market investments, funds managed similar to regulated money market funds, other debt instruments with maturities of three months or less when purchased, other than cash equivalents that are included in “Assets supporting experience-rated contractholder liabilities, at fair value,” and receivables related to securities purchased under agreements to resell (see also “ Securities sold under agreements to repurchase ” below). These assets are generally carried at fair value or amortized cost which approximates fair value. Accrued investment income primarily includes accruals of interest and dividend income from investments that have been earned but not yet received. Deferred policy acquisition costs are costs directly related to the successful acquisition of new and renewal insurance and annuity business that have been deferred to the extent such costs are deemed recoverable from future profits. Such DAC primarily includes commissions, costs of policy issuance and underwriting, and certain other expenses that are directly related to successfully acquired contracts. In each reporting period, capitalized DAC is amortized to “Amortization of DAC,” net of the accrual of imputed interest on DAC balances. DAC is subject to periodic recoverability testing. DAC, for applicable products, is adjusted for the impact of unrealized gains or losses on investments as if these gains or losses had been realized, with corresponding credits or charges included in AOCI. For traditional participating life insurance which are included in the Closed Block, DAC is amortized over the expected life of the contracts in proportion to gross margins based on historical and anticipated future experience., Any changes in estimated gross margins on unamortized DAC are reflected in the period such that estimated gross margins are revised on a retrospective basis. DAC related to non-participating traditional individual life insurance and longevity reinsurance contracts is amortized in proportion to gross premiums. DAC related to universal and variable life products and fixed and variable deferred annuity products are generally deferred and amortized over the expected life of the contracts in proportion to gross profits arising principally from investment margins, mortality and expense margins, and surrender charges, based on historical and anticipated future experience, which is updated periodically. The Company uses a reversion to the mean approach for equities to derive future equity return assumptions; however, if the projected equity return calculated using this approach is greater than the maximum equity return assumption, the maximum equity return is utilized. Gross profits also include impacts from the embedded derivatives associated with certain of the optional living benefit features of variable annuity contracts, and index-linked crediting features of certain universal life and annuity contracts and related hedging activities. Total gross profits include both actual gross profits and estimates of gross profits for future periods. The Company regularly evaluates and adjusts DAC balances with a corresponding charge or credit to current period earnings, representing a cumulative adjustment to all prior periods’ amortization, for the impact of actual gross profits and changes in the Company’s projections of estimated future gross profits. Adjustments to DAC balances include: (i) annual review of assumptions that reflect the comprehensive review of the assumptions used in estimating gross profits for future periods; (ii) quarterly adjustments for current period experience (also referred to as “experience true-up” adjustments) that reflect the impact of differences between actual gross profits for a given period and the previously estimated expected gross profits for that period; and (iii) quarterly adjustments for market performance (also referred to as “experience unlocking”) that reflect the impact of changes to the Company’s estimate of total gross profits to reflect actual fund performance and market conditions. For group annuity contracts (other than single premium group annuities), acquisition costs are generally deferred and amortized over the expected life of the contracts in proportion to gross profits. For group corporate-, bank- and trust-owned life insurance contracts, acquisition costs are generally deferred and amortized in proportion to lives insured. For single premium immediate annuities with life contingencies, single premium group annuities, including non-participating group annuity contracts, and single premium structured settlements with life contingencies, all acquisition costs are charged to expense immediately because generally all premiums are recognized as revenue at the inception of the contract. For funding agreement notes contracts, single premium structured settlement contracts without life contingencies, and single premium immediate annuities without life contingencies, acquisition expenses are deferred and amortized over the expected life of the contracts using the interest method. For other group life and disability insurance contracts and guaranteed investment contracts (“GICs”), acquisition costs are expensed as incurred. For some products, policyholders can elect to modify product benefits, features, rights or coverages by exchanging a contract for a new contract or by amendment, endorsement, or rider to a contract, or by the election of a feature or coverage within a contract. These transactions are known as internal replacements. If policyholders surrender traditional life insurance policies in exchange for life insurance policies that do not have fixed and guaranteed terms, the Company immediately charges to expense the remaining unamortized DAC on the surrendered policies. For other internal replacement transactions, except those that involve the addition of a nonintegrated contract feature that does not change the existing base contract, the unamortized DAC is immediately charged to expense if the terms of the new policies are not substantially similar to those of the former policies. If the new terms are substantially similar to those of the earlier policies, the DAC is retained with respect to the new policies and amortized over the expected life of the new policies. See Note 7 for additional information regarding DAC. Value of business acquired represents identifiable intangible assets to which a portion of the purchase price in a business acquisition is attributed under the application of purchase accounting. VOBA represents an adjustment to the stated value of in-forc

Investments

Investments	12 Months Ended
	Dec. 31, 2020
Investments [Abstract]
Investments	INVESTMENTS Fixed Maturity Securities The following tables set forth the composition of fixed maturity securities (excluding investments classified as trading), as of the dates indicated: December 31, 2020 Amortized Gross Gross Allowance for Credit Losses Fair (in millions) Fixed maturities, available-for-sale: U.S. Treasury securities and obligations of U.S. government authorities and agencies $ 30,766 $ 9,699 $ 17 $ 0 $ 40,448 Obligations of U.S. states and their political subdivisions 10,668 2,144 1 0 12,811 Foreign government bonds 94,110 16,373 239 0 110,244 U.S. public corporate securities 95,299 18,516 213 47 113,555 U.S. private corporate securities(1) 36,894 4,196 134 19 40,937 Foreign public corporate securities 25,857 3,768 64 24 29,537 Foreign private corporate securities 28,668 3,183 226 33 31,592 Asset-backed securities(2) 14,489 176 74 0 14,591 Commercial mortgage-backed securities 15,036 1,288 11 10 16,303 Residential mortgage-backed securities(3) 2,683 205 1 0 2,887 Total fixed maturities, available-for-sale(1) $ 354,470 $ 59,548 $ 980 $ 133 $ 412,905 December 31, 2020 Amortized Gross Gross Fair Allowance Amortized Cost, (in millions) Fixed maturities, held-to-maturity: Foreign government bonds $ 935 $ 270 $ 0 $ 1,205 $ 0 $ 935 Foreign public corporate securities 651 68 0 719 9 642 Foreign private corporate securities 87 1 0 88 0 87 Residential mortgage-backed securities(3) 266 20 0 286 0 266 Total fixed maturities, held-to-maturity(4) $ 1,939 $ 359 $ 0 $ 2,298 $ 9 $ 1,930 __________ (1) Excludes notes with amortized cost of $5,966 million (fair value, $6,100 million), which have been offset with the associated debt under a netting agreement. (2) Includes credit-tranched securities collateralized loan obligations, auto loans, education loans, home equity and other asset types. (3) Includes publicly-traded agency pass-through securities and collateralized mortgage obligations. (4) Excludes notes with amortized cost of $4,998 million (fair value, $5,821 million), which have been offset with the associated debt under a netting agreement. December 31, 2019 Amortized Gross Gross Fair OTTI (in millions) Fixed maturities, available-for-sale: U.S. Treasury securities and obligations of U.S. government authorities and agencies $ 30,625 $ 5,195 $ 161 $ 35,659 $ 0 Obligations of U.S. states and their political subdivisions 10,068 1,437 8 11,497 0 Foreign government bonds 98,356 20,761 63 119,054 (34) U.S. public corporate securities 87,566 11,030 257 98,339 (6) U.S. private corporate securities(1) 34,410 2,243 120 36,533 0 Foreign public corporate securities 26,841 3,054 70 29,825 (1) Foreign private corporate securities 27,619 1,201 580 28,240 0 Asset-backed securities(2) 13,067 147 40 13,174 (77) Commercial mortgage-backed securities 14,978 610 14 15,574 0 Residential mortgage-backed securities(3) 3,044 159 2 3,201 (1) Total fixed maturities, available-for-sale(1) $ 346,574 $ 45,837 $ 1,315 $ 391,096 $ (119) December 31, 2019 Amortized Gross Gross Fair (in millions) Fixed maturities, held-to-maturity: Foreign government bonds $ 891 $ 282 $ 0 $ 1,173 Foreign public corporate securities 649 64 0 713 Foreign private corporate securities 83 2 0 85 Residential mortgage-backed securities(3) 310 21 0 331 Total fixed maturities, held-to-maturity(5) $ 1,933 $ 369 $ 0 $ 2,302 __________ (1) Excludes notes with amortized cost of $4,751 million (fair value, $4,757 million), which have been offset with the associated debt under a netting agreement. (2) Includes credit-tranched securities collateralized by loan obligations, auto loans, education loans, home equity and other asset types. (3) Includes publicly-traded agency pass-through securities and collateralized mortgage obligations. (4) Represents the amount of unrealized losses remaining in AOCI, from the impairment measurement date. Amount excludes $362 million of net unrealized gains on impaired available-for-sale securities and $1 million of net unrealized gains on impaired held-to-maturity securities relating to changes in the value of such securities subsequent to the impairment measurement date. (5) Excludes notes with amortized cost of $4,998 million (fair value, $5,401 million), which have been offset with the associated debt under a netting agreement. The following table sets forth the fair value and gross unrealized losses on available-for-sale fixed maturity securities without an allowance for credit losses aggregated by investment category and length of time that individual fixed maturity securities had been in a continuous unrealized loss position, as of the date indicated: December 31, 2020 Less Than Twelve Months Total Fair Gross Fair Gross Fair Gross (in millions) Fixed maturities, available-for-sale: U.S. Treasury securities and obligations of U.S. government authorities and agencies $ 750 $ 17 $ 0 $ 0 $ 750 $ 17 Obligations of U.S. states and their political subdivisions 73 1 0 0 73 1 Foreign government bonds 6,536 231 39 8 6,575 239 U.S. public corporate securities 3,905 87 1,197 106 5,102 193 U.S. private corporate securities 1,712 52 843 82 2,555 134 Foreign public corporate securities 1,412 30 376 23 1,788 53 Foreign private corporate securities 798 34 2,371 192 3,169 226 Asset-backed securities 4,132 25 4,685 49 8,817 74 Commercial mortgage-backed securities 284 8 93 3 377 11 Residential mortgage-backed securities 116 1 1 0 117 1 Total fixed maturities, available-for-sale $ 19,718 $ 486 $ 9,605 $ 463 $ 29,323 $ 949 The following table sets forth the fair value and gross unrealized losses on fixed maturity securities aggregated by investment category and length of time that individual fixed maturity securities had been in a continuous unrealized loss position, as of the date indicated: December 31, 2019 Less Than Twelve Months Total Fair Gross Fair Gross Fair Gross (in millions) Fixed maturities(1): U.S. Treasury securities and obligations of U.S. government authorities and agencies $ 4,950 $ 161 $ 267 $ 0 $ 5,217 $ 161 Obligations of U.S. states and their political subdivisions 273 8 0 0 273 8 Foreign government bonds 2,332 60 126 3 2,458 63 U.S. public corporate securities 3,944 85 2,203 172 6,147 257 U.S. private corporate securities 2,283 44 1,563 76 3,846 120 Foreign public corporate securities 1,271 23 496 47 1,767 70 Foreign private corporate securities 1,466 33 5,666 547 7,132 580 Asset-backed securities 3,979 12 4,433 28 8,412 40 Commercial mortgage-backed securities 1,193 10 164 4 1,357 14 Residential mortgage-backed securities 207 1 88 1 295 2 Total $ 21,898 $ 437 $ 15,006 $ 878 $ 36,904 $ 1,315 __________ (1) As of December 31, 2019, there were no securities classified as held-to-maturity in a gross unrealized loss position. As of December 31, 2020, the gross unrealized losses on fixed maturity available-for-sale securities without an allowance were composed of $636 million related to “1” highest quality or “2” high quality securities based on the National Association of Insurance Commissioners (“NAIC”) or equivalent rating and $313 million related to other than high or highest quality securities based on NAIC or equivalent rating. As of December 31, 2020, the $463 million of gross unrealized losses of twelve months or more were concentrated in the Company’s corporate securities within the energy, utility and finance sectors. As of December 31, 2019, the gross unrealized losses on fixed maturity securities were composed of $973 million related to “1” highest quality or “2” high quality securities based on NAIC or equivalent rating and $342 million related to other than high or highest quality securities based on NAIC or equivalent rating. As of December 31, 2019, the $878 million of gross unrealized losses of twelve months or more were concentrated in the Company’s corporate securities within the energy, consumer non-cyclical and finance sectors. In accordance with its policy described in Note 2, the Company concluded that an adjustment to earnings for credit losses related to these fixed maturity securities was not warranted at December 31, 2020. These conclusions were based on a detailed analysis of the underlying credit and cash flows on each security. Gross unrealized losses are primarily attributable to general credit spread widening, increases in interest rates, foreign currency exchange rate movements and the financial condition or near-term prospects of the issuer. As of December 31, 2020, the Company did not intend to sell these securities, and it was not more likely than not that the Company would be required to sell these securities before the anticipated recovery of the remaining amortized cost basis. The following table sets forth the amortized cost or amortized cost, net of allowance and fair value of fixed maturities by contractual maturities, as of the date indicated: December 31, 2020 Available-for-Sale Held-to-Maturity Amortized Fair Amortized Fair (in millions) Fixed maturities: Due in one year or less $ 11,534 $ 12,100 $ 120 $ 120 Due after one year through five years 51,323 55,272 526 602 Due after five years through ten years 68,938 78,293 87 89 Due after ten years(1) 190,467 233,459 931 1,201 Asset-backed securities 14,489 14,591 0 0 Commercial mortgage-backed securities 15,036 16,303 0 0 Residential mortgage-backed securities 2,683 2,887 266 286 Total $ 354,470 $ 412,905 $ 1,930 $ 2,298 __________ (1) Excludes available-for-sale notes with amortized cost of $5,966 million (fair value, $6,100 million) and held-to-maturity notes with amortized cost of $4,998 million (fair value, $5,821 million), which have been offset with the associated debt under a netting agreement. Actual maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations. Asset-backed, commercial mortgage-backed and residential mortgage-backed securities are shown separately in the table above, as they do not have a single maturity date. The following table sets forth the sources of fixed maturity proceeds and related investment gains (losses), as well as losses on write-downs, impairments and the allowance for credit losses of fixed maturities, for the periods indicated: Years Ended December 31, 2020 2019 2018 (in millions) Fixed maturities, available-for-sale: Proceeds from sales(1) $ 21,013 $ 32,283 $ 38,230 Proceeds from maturities/prepayments 23,563 20,036 21,207 Gross investment gains from sales and maturities 1,690 1,715 1,412 Gross investment losses from sales and maturities (524) (434) (905) OTTI recognized in earnings(2) N/A (315) (279) Write-downs recognized in earnings(3) (304) N/A N/A (Addition to) release of allowance for credit losses(4) (133) N/A N/A Fixed maturities, held-to-maturity: Proceeds from maturities/prepayments(5) $ 88 $ 99 $ 94 (Addition to) release of allowance for credit losses(4) 0 N/A N/A __________ (1) Includes $470 million, $13 million and $(238) million of non-cash related proceeds due to the timing of trade settlements for the years ended December 31, 2020, 2019 and 2018, respectively. (2) For the years ended December 31, 2019 and 2018, amounts exclude the portion of OTTI amounts remaining in OCI, representing any difference between the fair value of the impaired debt security and the net present value of its projected future cash flows at the time of impairment. (3) For the year ended December 31, 2020, amounts represent write-downs of credit adverse securities, write-downs on securities approaching maturity related to foreign exchange movements and securities actively marketed for sale. (4) Effective January 1, 2020, credit losses on available-for-sale and held-to-maturity fixed maturity securities are recorded within the “allowance for credit losses”. (5) Includes less than $1 million, less than $(1) million and less than $(1) million of non-cash related proceeds due to the timing of trade settlements for the years ended December 31, 2020, 2019 and 2018, respectively. The following tables set forth the activity in the allowance for credit losses for fixed maturity securities, as of the date indicated: Year Ended December 31, 2020 U.S. Treasury Securities and Obligations of U.S. States Foreign Government Bonds U.S. and Foreign Corporate Securities Asset-Backed Securities Commercial Mortgage-Backed Securities Residential Mortgage-Backed Securities Total (in millions) Fixed maturities, available-for-sale: Balance, beginning of period $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 Additions to allowance for credit losses not previously recorded 0 39 255 0 1 0 295 Reductions for securities sold during the period 0 (39) (126) 0 0 0 (165) Additions (reductions) on securities with previous allowance 0 0 5 0 9 0 14 Write-downs charged against the allowance 0 0 (11) 0 0 0 (11) Balance, end of period $ 0 $ 0 $ 123 $ 0 $ 10 $ 0 $ 133 Year Ended December 31, 2020 U.S. Treasury Securities and Obligations of U.S. States Foreign Government Bonds U.S. and Foreign Corporate Securities Asset-Backed Securities Commercial Mortgage-Backed Securities Residential Mortgage-Backed Securities Total (in millions) Fixed maturities, held-to-maturity: Balance, beginning of period $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 Cumulative effect of adoption of ASU 2016-13 0 0 9 0 0 0 9 Balance, end of period $ 0 $ 0 $ 9 $ 0 $ 0 $ 0 $ 9 See Note 2 for additional information about the Company’s methodology for developing our allowance and expected losses. For the year ended December 31, 2020, the increase in the allowance for credit losses on available-for-sale securities was primarily related to adverse projected cash flows on public and private corporate securities. The Company did not have any fixed maturity securities purchased with credit deterioration, as of December 31, 2020. Assets Supporting Experience-Rated Contractholder Liabilities The following table sets forth the composition of “Assets supporting experience-rated contractholder liabilities,” as of the dates indicated: December 31, 2020 December 31, 2019 Amortized Fair Amortized Fair (in millions) Short-term investments and cash equivalents $ 658 $ 658 $ 277 $ 277 Fixed maturities: Corporate securities 14,442 15,472 13,143 13,603 Commercial mortgage-backed securities 1,743 1,839 1,845 1,896 Residential mortgage-backed securities(1) 964 1,018 1,134 1,158 Asset-backed securities(2) 1,665 1,697 1,639 1,662 Foreign government bonds 934 945 802 814 U.S. government authorities and agencies and obligations of U.S. states 371 443 341 397 Total fixed maturities(3) 20,119 21,414 18,904 19,530 Equity securities 1,661 2,043 1,465 1,790 Total assets supporting experience-rated contractholder liabilities(4) $ 22,438 $ 24,115 $ 20,646 $ 21,597 __________ (1) Includes publicly-traded agency pass-through securities and collateralized mortgage obligations. (2) Includes collateralized loan obligations, auto loans, education loans, home equity and other asset types. Collateralized loan obligations at fair value were $1,102 million and $1,060 million as of December 31, 2020 and 2019, respectively, all of which were rated AAA. (3) As a percentage of amortized cost, 94% of the portfolio was considered high or highest quality based on NAIC or equivalent ratings, as of both December 31, 2020 and 2019. (4) As a percentage of amortized cost, 79% and 77% of the portfolio consisted of public securities as of December 31, 2020 and 2019, respectively. The net change in unrealized gains (losses) from assets supporting experience-rated contractholder liabilities still held at period end, recorded within “Other income (loss),” was $726 million, $996 million and $(778) million during the years ended December 31, 2020, 2019 and 2018, respectively. Equity Securities The net change in unrealized gains (losses) from equity securities still held at period end, recorded within “Other income (loss),” was $205 million, $943 million and $(1,157) million during the years ended December 31, 2020, 2019 and 2018, respectively. Concentrations of Financial Instruments The Company monitors its concentrations of financial instruments and mitigates credit risk by maintaining a diversified investment portfolio which limits exposure to any single issuer. As of the dates indicated, the Company’s exposure to concentrations of credit risk of single issuers greater than 10% of the Company’s equity included securities of the U.S. government and certain U.S. government agencies and securities guaranteed by the U.S. government, as well as the securities disclosed below: December 31, 2020 December 31, 2019 Amortized Fair Amortized Fair (in millions) Investments in Japanese government and government agency securities: Fixed maturities, available-for-sale $ 80,273 $ 92,764 $ 74,118 $ 89,546 Fixed maturities, held-to-maturity 912 1,173 869 1,143 Fixed maturities, trading 25 25 23 23 Assets supporting experience-rated contractholder liabilities 849 855 653 664 Total $ 82,059 $ 94,817 $ 75,663 $ 91,376 December 31, 2020 December 31, 2019 Amortized Fair Amortized Fair (in millions) Investments in South Korean government and government agency securities: Fixed maturities, available-for-sale $ 26 $ 33 $ 10,823 $ 13,322 Assets supporting experience-rated contractholder liabilities 15 16 15 16 Total $ 41 $ 49 $ 10,838 $ 13,338 The decrease in South Korean government and government agency securities from December 31, 2019 to December 31, 2020 was due to the sale of POK, which was completed in August 2020. Commercial Mortgage and Other Loans The following table sets forth the composition of “Commercial mortgage and other loans,” as of the dates indicated: December 31, 2020 December 31, 2019 Amount % of Amount % of Commercial mortgage and agricultural property loans by property type: Office $ 12,750 19.7 % $ 13,462 21.4 % Retail 7,326 11.3 8,379 13.3 Apartments/Multi-Family 18,330 28.3 17,348 27.6 Industrial 14,954 23.1 13,226 21.1 Hospitality 2,395 3.7 2,415 3.9 Other 4,981 7.7 4,533 7.2 Total commercial mortgage loans 60,736 93.8 59,363 94.5 Agricultural property loans 4,048 6.2 3,472 5.5 Total commercial mortgage and agricultural property loans 64,784 100.0 % 62,835 100.0 % Allowance for credit losses (227) (117) Total net commercial mortgage and agricultural property loans 64,557 62,718 Other loans: Uncollateralized loans 655 656 Residential property loans 101 124 Other collateralized loans 120 65 Total other loans 876 845 Allowance for credit losses (8) (4) Total net other loans 868 841 Total net commercial mortgage and other loans(1) $ 65,425 $ 63,559 __________ (1) Includes loans held for sale which are carried at fair value and are collateralized primarily by apartment complexes. As of December 31, 2020 and 2019, the net carrying value of these loans was $1,092 million and $228 million, respectively. As of December 31, 2020, the commercial mortgage and agricultural property loans were secured by properties geographically dispersed throughout the United States (with the largest concentrations in California (28%), Texas (8%) and New York (7%)) and included loans secured by properties in Europe (8%), Australia (2%) and Asia (2%). The following table sets forth the activity in the allowance for credit losses for commercial mortgage and other loans, as of the dates indicated: Commercial Agricultural Residential Other Uncollateralized Total (in millions) Balance at December 31, 2017 $ 97 $ 3 $ 1 $ 0 $ 5 $ 106 Addition to (release of) allowance for credit losses 23 0 (1) 0 0 22 Charge-offs, net of recoveries 0 0 0 0 0 0 Balance at December 31, 2018 120 3 0 0 5 128 Addition to (release of) allowance for credit losses (5) 0 0 0 (1) (6) Charge-offs, net of recoveries (1) 0 0 0 0 (1) Balance at December 31, 2019 114 3 0 0 4 121 Cumulative effect of adoption of ASU 2016-13 110 5 0 0 0 115 Addition to (release of) allowance for expected losses 1 1 0 0 1 3 Write-downs charged against allowance (7) 0 0 0 0 (7) Other 0 0 0 3 0 3 Balance at December 31, 2020 $ 218 $ 9 $ 0 $ 3 $ 5 $ 235 See Note 2 for additional information about the Company’s methodology for developing our allowance and expected losses. For the year ended December 31, 2020, the increase in the allowance for credit losses on commercial mortgage and other loans was primarily related to the cumulative effect of adoption of ASU 2016-13. The following tables set forth key credit quality indicators based upon the recorded investment gross of allowance for credit losses, as of the date indicated: December 31, 2020 Amortized Cost by Origination Year 2020 2019 2018 2017 2016 Prior Total (in millions) Commercial Mortgage Loans Loan-to-Value Ratio: 0%-59.99% $ 828 $ 2,693 $ 3,217 $ 3,854 $ 3,223 $ 15,360 $ 29,175 60%-69.99% 2,678 4,981 4,291 2,239 2,667 4,058 20,914 70%-79.99% 2,492 2,587 1,500 1,057 918 1,409 9,963 80% or greater 23 3 61 69 23 505 684 Total $ 6,021 $ 10,264 $ 9,069 $ 7,219 $ 6,831 $ 21,332 $ 60,736 Debt Service Coverage Ratio: Greater or Equal to 1.2x $ 5,901 $ 9,429 $ 8,587 $ 6,954 $ 6,382 $ 18,904 $ 56,157 1.0 - 1.2x 118 711 383 263 384 1,719 3,578 Less than 1.0x 2 124 99 2 65 709 1,001 Total $ 6,021 $ 10,264 $ 9,069 $ 7,219 $ 6,831 $ 21,332 $ 60,736 Agricultural Property Loans Loan-to-Value Ratio: 0%-59.99% $ 956 $ 494 $ 349 $ 527 $ 367 $ 1,254 $ 3,947 60%-69.99% 8 51 39 3 0 0 101 70%-79.99% 0 0 0 0 0 0 0 80% or greater 0 0 0 0 0 0 0 Total $ 964 $ 545 $ 388 $ 530 $ 367 $ 1,254 $ 4,048 Debt Service Coverage Ratio: Greater or Equal to 1.2x $ 941 $ 544 $ 381 $ 468 $ 308 $ 1,202 $ 3,844 1.0 - 1.2x 23 0 1 59 1 40 124 Less than 1.0x 0 1 6 3 58 12 80 Total $ 964 $ 545 $ 388 $ 530 $ 367 $ 1,254 $ 4,048 Commercial mortgage loans December 31, 2019 Debt Service Coverage Ratio > 1.2X 1.0X to <1.2X < 1.0X Total (in millions) Loan-to-Value Ratio: 0%-59.99% $ 31,027 $ 701 $ 217 $ 31,945 60%-69.99% 17,090 1,145 42 18,277 70%-79.99% 8,020 719 28 8,767 80% or greater 209 143 22 374 Total commercial mortgage loans $ 56,346 $ 2,708 $ 309 $ 59,363 Agricultural property loans December 31, 2019 Debt Service Coverage Ratio > 1.2X 1.0X to <1.2X < 1.0X Total (in millions) Loan-to-Value Ratio: 0%-59.99% $ 3,289 $ 57 $ 14 $ 3,360 60%-69.99% 112 0 0 112 70%-79.99% 0 0 0 0 80% or greater 0 0 0 0 Total agricultural property loans $ 3,401 $ 57 $ 14 $ 3,472 See Note 2 for additional information about the Company’s commercial mortgage and other loans credit quality monitoring process. The following tables set forth an aging of past due commercial mortgage and other loans based upon the recorded investment gross of allowance for credit losses, as well as the amount of commercial mortgage and other loans on non-accrual status, as of the dates indicated: December 31, 2020 Current 30-59 Days 60-89 Days 90 Days or More Past Due(1) Total Past Total Non-Accrual (in millions) Commercial mortgage loans $ 60,614 $ 3 $ 119 $ 0 $ 122 $ 60,736 $ 5 Agricultural property loans 3,996 37 0 15 52 4,048 15 Residential property loans 99 1 0 1 2 101 1 Other collateralized loans 120 0 0 0 0 120 0 Uncollateralized loans 655 0 0 0 0 655 0 Total $ 65,484 $ 41 $ 119 $ 16 $ 176 $ 65,660 $ 21 __________ (1) As of December 31, 2020, there were no loans in this category accruing interest. (2) For additional information regarding the Company’s policies for accruing interest on loans, see Note 2. December 31, 2019 Current 30-59 Days 60-89 Days 90 Days or More Past Due(1) Total Past Total Non-Accrual (in millions) Commercial mortgage loans $ 59,363 $ 0 $ 0 $ 0 $ 0 $ 59,363 $ 44 Agricultural property loans 3,458 1 0 13 14 3,472 13 Residential property loans 121 1 0 2 3 124 2 Other collateralized loans 65 0 0 0 0 65 0 Uncollateralized loans 656 0 0 0 0 656 0 Total $ 63,663 $ 2 $ 0 $ 15 $ 17 $ 63,680 $ 59 __________ (1) As of December 31, 2019, there were no loans in this category accruing interest. (2) For additional information regarding the Company’s policies for accruing interest on loans, see Note 2. Loans on non-accrual status recognized interest income of $2 million for the year ended December 31, 2020, and $15 million of these loans did not have a related allowance for credit losses as of December 31, 2020. Other Invested Assets The following table sets forth the composition of “Other invested assets,” as of the dates indicated: December 31, 2020 2019 (in millions) LPs/LLCs: Equity method: Private equity $ 4,605 $ 3,625 Hedge funds 2,451 1,947 Real estate-related 1,691 1,372 Subtotal equity method 8,747 6,944 Fair value: Private equity 1,786 1,705 Hedge funds 2,036 2,172 Real estate-related 314 336 Subtotal fair value 4,136 4,213 Total LPs/LLCs 12,883 11,157 Real estate held through direct ownership(1) 2,027 2,388 Derivative instruments 1,915 877 Other(2) 1,300 1,184 Total other invested assets $ 18,125 $ 15,606 __________ (1) As of December 31, 2020 and 2019, real estate held through direct ownership had mortgage debt of $409 million and $537 million, respectively. (2) Primarily includes strategic investments made by investment management operations, leveraged leases and member and activity stock held in the Federal Home Loan Banks of New York and Boston. For additional information regarding the Company’s holdings in the Federal Home Loan Banks of New York and Boston, see Note 17. In certain investment structures, the Company’s investment management business invests with other co-investors in an investment fund referred to as a feeder fund. In these structures, the invested capital of several feeder funds is pooled together and used to purchase ownership interests in another fund, referred to as a master fund. The master fund utilizes this invested capital and, in certain cases, other debt financing, to purchase various classes of assets on behalf of its investors. Specialized industry accounting for investment companies calls for the feeder fund to reflect its investment in the master fund as a single net asset equal to its proportionate share of the net assets of the master fund, regardless of its level of interest in the master fund. In cases where the Company consolidates the feeder fund, it retains the feeder fund’s net asset presentation and reports the consolidated feeder fund’s proportionate share of the net assets of the master fund in “Other invested assets,” with any unaffiliated investors’ non-controlling interest in the feeder fund reported in “Other liabilities” or “Noncontrolling interests.” The consolidated feeder funds’ investments in these master funds, reflected on this net asset basis, totaled $459 million and $428 million as of December 31, 2020 and 2019, respectively. There was $201 million and $230 million of unaffiliated interest in the consolidated feeder funds as of December 31, 2020 and 2019, respectively, and the master funds had gross assets of $54,123 million and $89,313 million, respectively, and gross liabilities of $50,706 million and $86,471 million, respectively, which are not included on the Company’s balance sheet. Equity Method Investments The following tables set forth summarized combined financial information for significant LP/LLC interests accounted for under the equity method, including the Company’s investments in operating joint ventures that are described in more detail in Note 9. Changes between periods in the tables below reflect changes in the activities within the operating joint ventures and LPs/LLCs, as well as changes in the Company’s level of investment in such entities: December 31, 2020 2019 (in millions) STATEMENTS OF FINANCIAL POSITION Total assets(1) $ 424,712 $ 313,828 Total liabilities(2) $ 35,705 $ 19,274 Partners’ capital 389,007 294,554 Total liabilities and partners’ capital $ 424,712 $ 313,828 Total liabilities and partners’ capital included above $ 9,475 $ 7,438 Equity in LP/LLC interests not included above 666 814 Carrying value $ 10,141 $ 8,252 __________ (1) Amount represents gross assets of each fund where the Company has a significant investment. These assets consist primarily of investments in real estate, investments in securities and other miscellaneous assets. (2) Amount represents gross liabilities of each fund where the Company has a significant investment. These liabilities consist primarily of third-party-borrowed funds, securities repurchase agreements and other miscellaneous liabilities. Years Ended December 31, 2020 2019 2018 (in millions) STATEMENTS OF OPERATIONS Total revenue(1) $ 42,964 $ 11,430 $ 6,264 Total expenses(2) (8,887) (5,800) (3,222) Net earnings (losses) $ 34,077 $ 5,630 $ 3,042 Equity in net earnings (losses) included above $ 744 $ 525 $ 233 Equity in net earnings (losses) of LP/LLC interests not included above 28 11 14 Total equity in net earnings (losses) $ 772 $ 536 $ 247 __________ (1) Amount represents gross revenue of each fund where the Company has a significant investment. This revenue consists of income from investments in real estate, investments in securities and other income. (2) Amount represents gross expenses of each fund where the Company has a significant investment. These expenses consist primarily of interest expense, investment management fees, salary expenses and other expenses. Accrued Investment Income The following table sets forth the composition of “Accrued investment income,” as of the date indicated: December 31, 2020 (in millions) Fixed maturities $ 2,676 Equity securities 7 Commercial mortgage and other loans 205 Policy loans 274 Other invested assets 27 Short-term investments and cash equivalents 4 Total accrued investment income $ 3,193 There was less than $1 million of write-downs on accrued investment income for the year ended December 31, 2020. Net Investment Income The following table sets forth “Net investment income” by investment type, for the periods indicated: Years Ended December 31, 2020 2019 2018 (in millions) Fixed maturities, available-for-sale(1) $ 12,339 $ 12,644 $ 11,989 Fixed maturities, held-to-maturity(1) 235 232 226 Fixed maturities, trading 126 149 143 Assets supporting experience-rated contractholder liabilities 700 731 722 Equity securities 162 160 164 Commercial mortgage and other loans 2,485 2,584 2,352 Policy loans 584 619 622 Other invested assets 1,318 1,005 519 Short-term investments and cash equivalents 197 453 345 Gross investment income 18,146 18,577 17,082 Less: investment expenses (736) (992) (906) Net investment income $ 17,410 $ 17,585 $ 16,176 __________ (1) Includes income on credit-linked notes which are reported on the same financial statement line items as related surplus notes, as conditions are met for right to offset. The carrying value of non-income producing assets included $389 million in available-for-sale fixed maturities, $29 million in assets supporting experience-rated contractholder liabilities and less than $1 million in trading fixed maturities as of December 31, 2020. Non-income producing assets represent investments that had not produced income for the twelve months preceding December 31, 2020. Realized Investment Gains (Losses), Net The following table sets forth “Realized investment gains (losses), net” by investment type, for the periods indicated: Years Ended December 31, 2020 2019 2018 (in millions) Fixed maturities(1) $ 729 $ 966 $ 228 Commercial mortgage and other loans 103 44 49 Investment real estate (16) 78 84 LPs/LLCs 2 (38) 17 Derivatives (4,715) (1,513) 1,597 Other 10 4 2 Realized investment gains (losses), net $ (3,887) $ (459) $ 1,977 __________ (1) Includes fixed maturity securities classified as available-for-sale and held-to-maturity and excludes fixed maturity securities classified as trading. Net Unrealized Gains (Losses) on Investments within AOCI The following table sets forth net unrealized gains (losses) on investments, as of the dates indicated: December 31, 2020 2019 2018 (in millions) Fixed maturity securities, available-for-sale—with OTTI(1) $ N/A $ 243 $ 190 Fixed maturity securities, available-for-sale—all other(1) N/A 44,279 21,721 Fixed maturity securities, available-for-sale with an allowance (25) N/A N/A Fixed maturity securities, available-for-sale without an allowance 58,593 N/A N/A Derivatives designated as cash flow hedges(2) (168) 832 811 Derivatives designated as fair value hedges(2) 10 0 0 Other investments(3) 7 (15) (2) Net unrealized gains (losses) on investments $ 58,417 $ 45,339 $ 22,720 __________ (1) Effective January 1, 2020, per ASU 2016-13, fixed maturity securities, available-for-sale are no longer required to be disclosed “with OTTI” and “all other.” (2) For additional information on cash flow and fair value hedges, see Note 5. Repurchase Agreements and Securities Lending In the normal course of business, the Company sells securities under agreements to repurchase and enters into securities lending transactions. The following table sets forth the composition of “Securities sold under agreements to repurchase,

Variable Interest Entities

Variable Interest Entities	12 Months Ended
	Dec. 31, 2020
Variable Interest Entity, Measure of Activity [Abstract]
Variable Interest Entities	VARIABLE INTEREST ENTITIES In the normal course of its activities, the Company enters into relationships with various special-purpose entities and other entities that are deemed to be VIEs. A VIE is an entity that either (1) has equity investors that lack certain essential characteristics of a controlling financial interest (including the ability to control activities of the entity, the obligation to absorb the entity’s expected losses and the right to receive the entity’s expected residual returns) or (2) lacks sufficient equity to finance its own activities without financial support provided by other entities, which in turn would be expected to absorb at least some of the expected losses of the VIE. The Company is the primary beneficiary if the Company has (1) the power to direct the activities of the VIE that most significantly impact the economic performance of the entity and (2) the obligation to absorb losses of the entity that could be potentially significant to the VIE or the right to receive benefits from the entity that could be potentially significant. If the Company determines that it is the VIE’s primary beneficiary, it consolidates the VIE. Consolidated Variable Interest Entities The Company is the investment manager of certain asset-backed investment vehicles, commonly referred to as CLOs, and certain other vehicles for which the Company earns fee income for investment management services. The Company may sell or syndicate investments through these vehicles, principally as part of the strategic investing activity of the Company’s investment management businesses. Additionally, the Company may invest in securities issued by these vehicles. The Company is also the investment manager of certain investment structures whose beneficial interests are wholly-owned by consolidated subsidiaries. The Company has analyzed these relationships and determined that for certain CLOs and other investment structures it is the primary beneficiary and consolidates these entities. This analysis includes a review of (1) the Company’s rights and responsibilities as investment manager and (2) variable interests (if any) held by the Company. The assets of these VIEs are restricted and must be used first to settle liabilities of the VIE. The Company is not required to provide, and has not provided, material financial or other support to any of these VIEs. Additionally, the Company is the primary beneficiary of certain VIEs in which the Company has invested, as part of its investment activities, but for which it is not the investment manager. These include structured investments issued by a VIE that manages yen-denominated investments coupled with cross-currency coupon swap agreements thereby creating synthetic dual currency investments. The Company’s involvement in the structuring of these investments combined with its economic interest indicates that the Company is the primary beneficiary. The Company has not provided material financial support or other support that was not contractually required to these VIEs. The table below reflects the carrying amount and balance sheet caption in which the assets and liabilities of consolidated VIEs are reported. The liabilities primarily comprise obligations under debt instruments issued by the VIEs. The creditors of these VIEs do not have recourse to the Company in excess of the assets contained within the VIEs. Consolidated VIEs for which Other Consolidated VIEs(1) December 31, December 31, 2020 2019 2020 2019 (in millions) Fixed maturities, available-for-sale $ 110 $ 104 $ 296 $ 285 Fixed maturities, held-to-maturity 87 83 882 839 Fixed maturities, trading 160 1,112 0 0 Assets supporting experience-rated contractholder liabilities 0 0 0 4 Equity securities 42 47 0 0 Commercial mortgage and other loans 975 883 0 0 Other invested assets 2,221 2,199 127 89 Cash and cash equivalents 101 166 0 0 Accrued investment income 2 4 4 4 Other assets 594 450 768 689 Total assets of consolidated VIEs $ 4,292 $ 5,048 $ 2,077 $ 1,910 Other liabilities $ 256 $ 304 $ 2 $ 13 Notes issued by consolidated VIEs(2) 305 1,274 0 0 Total liabilities of consolidated VIEs $ 561 $ 1,578 $ 2 $ 13 __________ (1) Total assets of consolidated VIEs reflect $2,538 million and $2,668 million as of December 31, 2020 and 2019, respectively, related to VIEs whose beneficial interests are wholly-owned by consolidated subsidiaries. (2) Recourse is limited to the assets of the respective VIE and does not extend to the general credit of the Company. As of December 31, 2020, the maturity of this obligation was within 4 years. Unconsolidated Variable Interest Entities The Company has determined that it is not the primary beneficiary of certain VIEs for which it is the investment manager. These VIEs consist primarily of CLOs and investment funds for which the Company has determined that it is not the primary beneficiary as it does not have both (1) the power to direct the activities of the VIE that most significantly impact the economic performance of the entity and (2) the obligation to absorb losses of the entity that could be potentially significant to the VIE or the right to receive benefits from the entity that could be potentially significant. The Company’s maximum exposure to loss resulting from its relationship with unconsolidated VIEs for which it is the investment manager is limited to its investment in the VIEs, which was $935 million and $1,021 million at December 31, 2020 and 2019, respectively. These investments are reflected in “Fixed maturities, available-for-sale,” “Fixed maturities, trading,” “Equity securities” and “Other invested assets.” There are no liabilities associated with these unconsolidated VIEs on the Company’s Consolidated Statements of Financial Position. In the normal course of its activities, the Company will invest in LPs/LLCs which include hedge funds, private equity funds and real estate-related funds and may or may not be VIEs. The Company’s maximum exposure to loss on these investments, both VIEs and non-VIEs, is limited to the amount of its investment. The Company has determined that it is not required to consolidate these entities because either (1) it does not control them or (2) it does not have the obligation to absorb losses of these entities that could be potentially significant to the entities or the right to receive benefits from the entities that could be potentially significant. The Company classifies these investments as “Other invested assets” and its maximum exposure to loss associated with these entities was $12,883 million and $11,157 million as of December 31, 2020 and 2019, respectively. In addition, in the normal course of its activities, the Company will invest in structured investments including VIEs for which it is not the investment manager. These structured investments typically invest in fixed income investments and are managed by third parties and include asset-backed securities, commercial mortgage-backed securities and residential mortgage-backed securities. The Company’s maximum exposure to loss on these structured investments, both VIEs and non-VIEs, is limited to the amount of its investment. See Note 3 for details regarding the carrying amounts and classification of these assets. The Company has not provided material financial or other support that was not contractually required to these structures. The Company has determined that it is not the primary beneficiary of these structures due to the fact that it does not control these entities.

Derivative Instruments

Derivative Instruments	12 Months Ended
	Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	DERIVATIVES AND HEDGING Types of Derivative and Hedging Instruments Interest Rate Contracts Interest rate swaps, options and futures are used by the Company to reduce risks from changes in interest rates, manage interest rate exposures arising from mismatches between assets and liabilities and to hedge against changes in their values it owns or anticipates acquiring or selling. Swaps may be attributed to specific assets or liabilities or to a portfolio of assets or liabilities. Under interest rate swaps, the Company agrees with counterparties to exchange, at specified intervals, the difference between fixed-rate and floating-rate interest amounts calculated by reference to an agreed upon notional principal amount. The Company also uses interest rate swaptions, caps, and floors to manage interest rate risk. A swaption is an option to enter into a swap with a forward starting effective date. The Company pays a premium for purchased swaptions and receives a premium for written swaptions. In an interest rate cap, the buyer receives payments at the end of each period in which the interest rate exceeds the agreed strike price. Similarly, in an interest rate floor, the buyer receives payments at the end of each period in which the interest rate is below the agreed strike price. Swaptions, caps and floors are included in interest rate options. In standardized exchange-traded interest rate futures transactions, the Company purchases or sells a specified number of contracts, the values of which are determined by the daily market values of underlying referenced investments. The Company enters into exchange-traded futures with regulated futures commission’s merchants who are members of a trading exchange. Equity Contracts Equity options, total return swaps, and futures are used by the Company to manage its exposure to the equity markets which impacts the value of assets and liabilities it owns or anticipates acquiring or selling. Equity index options are contracts which will settle in cash based on differentials in the underlying indices at the time of exercise and the strike price. The Company uses combinations of purchases and sales of equity index options to hedge the effects of adverse changes in equity indices within a predetermined range. Total return swaps are contracts whereby the Company agrees with counterparties to exchange, at specified intervals, the difference between the return on an asset (or market index) and London Inter-Bank Offered Rate (“LIBOR”) plus an associated funding spread based on a notional amount. The Company generally uses total return swaps to hedge the effect of adverse changes in equity indices. In standardized exchange-traded equity futures transactions, the Company purchases or sells a specified number of contracts, the values of which are determined by the daily market values of underlying referenced equity indices. The Company enters into exchange-traded futures with regulated futures commission’s merchants who are members of a trading exchange. Foreign Exchange Contracts Currency derivatives, including currency futures, options, forwards and swaps, and foreign currency denominated debts are used by the Company to reduce risks from changes in currency exchange rates with respect to investments denominated in foreign currencies that the Company either holds or intends to acquire or sell, and to hedge the currency risk associated with net investments in foreign operations and anticipated earnings of its foreign operations. Under currency forwards, the Company agrees with counterparties to deliver a specified amount of an identified currency at a specified future date. Typically, the price is agreed upon at the time of the contract and payment for such a contract is made at the specified future date. As noted above, the Company uses currency forwards to mitigate the impact of changes in currency exchange rates on U.S. dollar-equivalent earnings generated by certain of its non-U.S. businesses, primarily its international insurance and investment operations. The Company executes forward sales of the hedged currency in exchange for U.S. dollars at a specified exchange rate. The maturities of these forwards correspond with the future periods in which the non-U.S. dollar-denominated earnings are expected to be generated. Under currency swaps, the Company agrees with counterparties to exchange, at specified intervals, the difference between one currency and another at an exchange rate and calculated by reference to an agreed principal amount. Generally, the principal amount of each currency is exchanged at the beginning and termination of the currency swap by each party. Under foreign currency denominated debts, the company uses portion of its foreign currency denominated debt (same functional currency of its foreign subsidiaries) to hedge the risk of change in the net investment in a foreign subsidiary due to changes in exchange rates. These debt obligations reduce the company’s foreign currency exposure from equity investment and act as hedge of the investment. The Company assesses hedge effectiveness of its derivatives based upon the change in forward rates and assesses its foreign currency denominated debts based upon the change in spot rates. Credit Contracts The Company writes credit default swaps to gain exposure similar to investment in public fixed maturity cash instruments. With these derivatives the Company sells credit protection on a single name reference, or certain index reference, and in return receives a quarterly premium. This premium or credit spread generally corresponds to the difference between the yield on the referenced name (or an index’s referenced names) public fixed maturity cash instruments and swap rates, at the time the agreement is executed. If there is an event of default by the referenced name or one of the referenced names in the index, as defined by the agreement, then the Company is obligated to pay the referenced amount of the contract to the counterparty and receive in return the referenced defaulted security or similar security (in the case of a credit default index) or pay the referenced amount less the auction recovery rate. See credit derivatives section for further discussion of guarantees. In addition to selling credit protection, the Company purchases credit protection using credit derivatives to hedge specific credit exposures in the Company’s investment portfolio. Other Contracts “To Be Announced” (“TBA”) Forward Contracts. The Company uses TBA forward contracts to gain exposure to the investment risk and return of mortgage-backed securities. TBA transactions can help the Company enhance the return on its investment portfolio, and can provide a more liquid and cost-effective method of achieving these goals than purchasing or selling individual mortgage-backed pools. Typically, the price is agreed upon at the time of the contract and payment for such a contract is made at a specified future date. Additionally, pursuant to the Company’s mortgage dollar roll program, TBAs or mortgage-backed securities are transferred to counterparties with a corresponding agreement to repurchase them at a future date. These transactions do not qualify as secured borrowings and are accounted for as derivatives. Loan Commitments. In its mortgage operations, the Company enters into commitments to fund commercial mortgage loans at specified interest rates and other applicable terms within specified periods of time. These commitments are legally binding agreements to extend credit to a counterparty. Loan commitments for loans that will be held for sale are recognized as derivatives and recorded at fair value. The determination of the fair value of loan commitments accounted for as derivatives considers various factors including, among others, terms of the related loan, the intended exit strategy for the loans based upon either securitization valuation models or investor purchase commitments, prevailing interest rates, origination income or expense, and the value of service rights. Loan commitments that relate to the origination of mortgage loans that will be held for investment are not accounted for as derivatives and accordingly are not recognized in the Company’s financial statements. See Note 23 for additional information. Embedded Derivatives. The Company offers certain products (for example, variable annuities) which may include guaranteed benefit features that are accounted for as embedded derivatives. These embedded derivatives are carried at fair value through “Realized investment gains (losses), net” based on the change in value of the underlying contractual guarantees, which are determined using valuation models. The Company maintains a portfolio of derivative instruments that is intended to offset certain risks related to the above products’ features. The derivatives may include, but are not limited to equity options, equity futures, total return swaps, interest rate swaptions, caps, floors and other instruments. Synthetic Guarantees. The Company sells synthetic GICs, through both full service and investment-only sales channels, to investment vehicles primarily used by qualified defined contribution pension plans. The synthetic GICs are issued in respect of assets that are owned by the trustees of such plans, who invest the assets according to the contract terms agreed to with the Company. The contracts establish participant balances and credit interest thereon. The participant balances are supported by the underlying assets. In connection with certain participant-initiated withdrawals, the contract guarantees that after all underlying assets are liquidated, any remaining participant balances will be paid by the Company. These contracts are accounted for as derivatives and recorded at fair value. Primary Risks Managed by Derivatives The table below provides a summary of the gross notional amount and fair value of derivatives contracts by the primary underlying risks, excluding embedded derivatives and associated reinsurance recoverables. Many derivative instruments contain multiple underlying risks. The fair value amounts below represent the value of derivative contracts prior to taking into account the netting effects of master netting agreements and cash collateral. This netting impact results in total derivative assets of $1,906 million and $867 million as of December 31, 2020 and 2019, respectively, and total derivative liabilities of $792 million and $831 million as of December 31, 2020 and 2019, respectively, reflected in the Consolidated Statements of Financial Position. December 31, 2020 December 31, 2019 Primary Underlying Risk/ Gross Fair Value Gross Fair Value Notional Assets Liabilities Notional Assets Liabilities (in millions) Derivatives Designated as Hedge Accounting Instruments: Interest Rate Interest Rate Swaps $ 3,065 $ 978 $ (90) $ 3,257 $ 628 $ (73) Interest Rate Forwards 249 0 (8) 205 4 (1) Foreign Currency Foreign Currency Forwards 2,577 68 (116) 1,461 22 (57) Currency/Interest Rate Foreign Currency Swaps 22,642 878 (1,037) 22,746 1,467 (302) Total Derivatives Designated as Hedge $ 28,533 $ 1,924 $ (1,251) $ 27,669 $ 2,121 $ (433) Derivatives Not Qualifying as Hedge Accounting Instruments: Interest Rate Interest Rate Swaps $ 178,803 $ 17,174 $ (13,172) $ 141,162 $ 10,249 $ (4,861) Interest Rate Futures 15,778 99 (5) 17,095 4 (38) Interest Rate Options 14,593 914 (233) 16,496 339 (238) Interest Rate Forwards 2,910 25 0 2,218 18 (3) Foreign Currency Foreign Currency Forwards 35,478 764 (647) 26,604 208 (214) Foreign Currency Options 0 0 0 0 0 0 Currency/Interest Rate Foreign Currency Swaps 13,661 537 (601) 13,874 740 (345) Credit Credit Default Swaps 3,360 63 (28) 798 21 0 Equity Equity Futures 5,668 10 (25) 1,802 0 (3) Equity Options 36,250 1,731 (1,028) 32,657 679 (765) Total Return Swaps 22,489 32 (1,277) 18,218 6 (636) Other Other(1) 1,262 0 0 1,258 0 0 Synthetic GICs 86,264 0 0 80,009 1 0 Total Derivatives Not Qualifying as Hedge $ 416,516 $ 21,349 $ (17,016) $ 352,191 $ 12,265 $ (7,103) Total Derivatives(2)(3) $ 445,049 $ 23,273 $ (18,267) $ 379,860 $ 14,386 $ (7,536) __________ (1) “Other” primarily includes derivative contracts used to improve the balance of the Company’s tail longevity and mortality risk. Under these contracts, the Company’s gains (losses) are capped at the notional amount. (2) Excludes embedded derivatives and associated reinsurance recoverables which contain multiple underlying risks. The fair value of these embedded derivatives was a net liability of $20,119 million and $14,035 million as of December 31, 2020, and 2019, respectively, primarily included in “Future policy benefits.” (3) Recorded in “Other invested assets” and “Other liabilities” on the Consolidated Statements of Financial Position. As of December 31, 2020, the following amounts were recorded on the Consolidated Statements of Financial Position related to the carrying amount of the hedged assets (liabilities) and cumulative basis adjustments included in the carrying amount for fair value hedges: December 31, 2020 December 31, 2019 Balance Sheet Line Item in which Hedged Item is Recorded Carrying Amount of the Hedged Assets (Liabilities) Cumulative Amount of Carrying Amount of the Hedged Assets (Liabilities) Cumulative Amount of (in millions) Fixed maturities, available-for-sale, at fair value $ 402 $ 79 $ 389 $ 64 Commercial mortgage and other loans $ 20 $ 2 $ 23 $ 2 Policyholders’ account balances $ (1,627) $ (303) $ (1,376) $ (107) Future policy benefits $ (1,585) $ (372) $ (676) $ (172) ________ (1) There were no material fair value hedging adjustments for hedged assets and liabilities for which hedge accounting has been discontinued. Most of the Company’s derivatives do not qualify for hedge accounting for various reasons. For example: (i) derivatives that economically hedge embedded derivatives do not qualify for hedge accounting because changes in the fair value of the embedded derivatives are already recorded in net income; (ii) derivatives that are utilized as macro hedges of the Company’s exposure to various risks typically do not qualify for hedge accounting because they do not meet the criteria required under portfolio hedge accounting rules; and (iii) synthetic GIC, which are product standalone derivatives, do not qualify as hedging instruments under hedge accounting rules. Offsetting Assets and Liabilities The following table presents recognized derivative instruments (excluding embedded derivatives and associated reinsurance recoverables), and repurchase and reverse repurchase agreements that are offset in the Consolidated Statements of Financial Position, and/or are subject to an enforceable master netting arrangement or similar agreement, irrespective of whether they are offset in the Consolidated Statements of Financial Position: December 31, 2020 Gross Gross Net Amounts Financial Net (in millions) Offsetting of Financial Assets: Derivatives(1) $ 23,144 $ (21,367) $ 1,777 $ (806) $ 971 Securities purchased under agreement to resell 252 0 252 (252) 0 Total Assets $ 23,396 $ (21,367) $ 2,029 $ (1,058) $ 971 Offsetting of Financial Liabilities: Derivatives(1) $ 18,265 $ (17,475) $ 790 $ (790) $ 0 Securities sold under agreement to repurchase 10,894 0 10,894 (10,432) 462 Total Liabilities $ 29,159 $ (17,475) $ 11,684 $ (11,222) $ 462 December 31, 2019 Gross Gross Net Amounts Financial Net (in millions) Offsetting of Financial Assets: Derivatives(1) $ 14,303 $ (13,519) $ 784 $ (607) $ 177 Securities purchased under agreement to resell 1,012 0 1,012 (1,012) 0 Total Assets $ 15,315 $ (13,519) $ 1,796 $ (1,619) $ 177 Offsetting of Financial Liabilities: Derivatives(1) $ 7,528 $ (6,705) $ 823 $ (244) $ 579 Securities sold under agreement to repurchase 9,681 0 9,681 (9,681) 0 Total Liabilities $ 17,209 $ (6,705) $ 10,504 $ (9,925) $ 579 __________ (1) Amounts exclude the excess of collateral received/pledged from/to the counterparty. For information regarding the rights of offset associated with the derivative assets and liabilities in the table above, see “ — Counterparty Credit Risk” below. For securities purchased under agreements to resell and securities sold under agreements to repurchase, the Company monitors the value of the securities and maintains collateral, as appropriate, to protect against credit exposure. Where the Company has entered into repurchase and resale agreements with the same counterparty, in the event of default, the Company would generally be permitted to exercise rights of offset. For additional information on the Company’s accounting policy for securities repurchase and resale agreements, see Note 2. Cash Flow, Fair Value and Net Investment Hedges The primary derivative instruments used by the Company in its fair value, cash flow and net investment hedge accounting relationships are interest rate swaps, currency swaps, currency forwards, and foreign currency denominated debts. These instruments are only designated for hedge accounting in instances where the appropriate criteria are met. The Company does not use futures, options, credit, and equity derivatives in any of its fair value, cash flow or net investment hedge accounting relationships. The following table provides the financial statement classification and impact of derivatives used in qualifying and non-qualifying hedge relationships, including the offset of the hedged item in fair value hedge relationships. Year Ended December 31, 2020 Realized Net Other Interest Interest Policyholders’ Benefits AOCI(1) (in millions) Derivatives Designated as Hedge Accounting Instruments: Fair value hedges Gains (losses) on derivatives designated as hedge instruments: Interest Rate $ (17) $ (8) $ 0 $ 0 $ 236 $ 186 $ 0 Currency 0 0 0 0 0 46 0 Total gains (losses) on derivatives designated as hedge instruments (17) (8) 0 0 236 232 0 Gains (losses) on the hedged item: Interest Rate 16 18 0 0 (196) (155) 0 Currency 0 1 0 0 0 (46) 0 Total gains (losses) on hedged item 16 19 0 0 (196) (201) 0 Amortization for Gain (Loss) Excluded from Assessment of the Effectiveness Currency 0 0 0 0 0 (1) 10 Total Amortization for Gain (Loss) Excluded from Assessment of the Effectiveness 0 0 0 0 0 (1) 10 Total gains (losses) on fair value hedges net of hedged item (1) 11 0 0 40 30 10 Cash flow hedges Interest Rate 40 1 0 (1) 0 0 7 Currency 5 0 0 0 0 0 (69) Currency/Interest Rate 99 314 (303) 0 0 0 (938) Total gains (losses) on cash flow hedges 144 315 (303) (1) 0 0 (1,000) Net investment hedges Currency (7) 0 126 0 0 0 (128) Currency/Interest Rate 0 0 0 0 0 0 0 Total gains (losses) on net investment hedges (7) 0 126 0 0 0 (128) Derivatives Not Qualifying as Hedge Accounting Instruments: Interest Rate 5,800 0 0 0 0 0 0 Currency 100 0 (1) 0 0 0 0 Currency/Interest Rate (188) 0 (4) 0 0 0 0 Credit (56) 0 0 0 0 0 0 Equity (5,623) 0 0 0 0 0 0 Other 2 0 0 0 0 0 0 Embedded Derivatives (4,882) 0 0 0 0 0 0 Total gains (losses) on derivatives not qualifying as hedge accounting instruments (4,847) 0 (5) 0 0 0 0 Total $ (4,711) $ 326 $ (182) $ (1) $ 40 $ 30 $ (1,118) Year Ended December 31, 2019 Realized Net Other Interest Interest Policyholders’ Benefits AOCI(1) (in millions) Derivatives Designated as Hedge Accounting Instruments: Fair value hedges Gains (losses) on derivatives designated as hedge instruments: Interest Rate $ (14) $ (7) $ 0 $ 0 $ 194 $ 155 $ 0 Currency 0 0 0 0 0 0 0 Total gains (losses) on derivatives designated as hedge instruments (14) (7) 0 0 194 155 0 Gains (losses) on the hedged item: Interest Rate 11 20 0 0 (186) (140) 0 Currency 1 3 0 0 0 0 0 Total gains (losses) on hedged item 12 23 0 0 (186) (140) 0 Total gains (losses) on fair value hedges net of hedged item (2) 16 0 0 8 15 0 Cash flow hedges Interest Rate 58 0 0 0 0 0 (25) Currency 6 0 0 0 0 0 (62) Currency/Interest Rate 130 282 (97) 0 0 0 99 Total gains (losses) on cash flow hedges 194 282 (97) 0 0 0 12 Net investment hedges Currency 0 0 0 0 0 0 4 Currency/Interest Rate 0 0 0 0 0 0 0 Total gains (losses) on net investment hedges 0 0 0 0 0 0 4 Derivatives Not Qualifying as Hedge Accounting Instruments: Interest Rate 4,533 0 0 0 0 0 0 Currency 14 0 5 0 0 0 0 Currency/Interest Rate 394 0 0 0 0 0 0 Credit 123 0 0 0 0 0 0 Equity (4,057) 0 0 0 0 0 0 Other 0 0 0 0 0 0 0 Embedded Derivatives (2,705) 0 0 0 0 0 0 Total gains (losses) on derivatives not qualifying as hedge accounting instruments (1,698) 0 5 0 0 0 0 Total $ (1,506) $ 298 $ (92) $ 0 $ 8 $ 15 $ 16 Year Ended December 31, 2018 Realized Net Other Interest Interest Policyholders’ Benefits AOCI(1) (in millions) Derivatives Designated as Hedge Accounting Instruments: Fair value hedges Gains (losses) on derivatives designated as hedge instruments: Interest Rate $ 20 $ (9) $ 0 $ 0 $ (65) $ 35 $ 0 Currency 6 0 0 0 0 0 0 Total gains (losses) on derivatives designated as hedge instruments 26 (9) 0 0 (65) 35 0 Gains (losses) on the hedged item: Interest Rate (27) 31 0 0 79 (31) 0 Currency (5) 3 0 0 0 0 0 Total gains (losses) on hedged item (32) 34 0 0 79 (31) 0 Total gains (losses) on fair value hedges net of hedged item (6) 25 0 0 14 4 0 Cash flow hedges Interest Rate 2 0 0 (1) 0 0 32 Currency 7 0 0 0 0 0 20 Currency/Interest Rate 69 217 257 0 0 0 798 Total gains (losses) on cash flow hedges 78 217 257 (1) 0 0 850 Net investment hedges Currency 0 0 0 0 0 0 6 Currency/Interest Rate 0 0 0 0 0 0 0 Total gains (losses) on net investment hedges 0 0 0 0 0 0 6 Derivatives Not Qualifying as Hedge Accounting Instruments: Interest Rate (1,226) 0 0 0 0 0 0 Currency 342 0 (1) 0 0 0 0 Currency/Interest Rate 364 0 3 0 0 0 0 Credit (55) 0 0 0 0 0 0 Equity 1,121 0 0 0 0 0 0 Other 0 0 0 0 0 0 0 Embedded Derivatives 966 0 0 0 0 0 0 Total gains (losses) on derivatives not qualifying as hedge accounting instruments 1,512 0 2 0 0 0 0 Total $ 1,584 $ 242 $ 259 $ (1) $ 14 $ 4 $ 856 __________ (1) Net change in AOCI, excluding changes related to net investment hedges using non-derivative instruments of $(21) million for year ended December 31, 2020 and $0 million for both year ended December 31, 2019 and 2018. Presented below is a rollforward of current period cash flow hedges in AOCI before taxes: (in millions) Balance, December 31, 2017 $ (39) Amount recorded in AOCI Interest Rate 33 Currency 27 Currency/Interest Rate 1,341 Total amount recorded in AOCI 1,401 Amount reclassified from AOCI to income Interest Rate (1) Currency (7) Currency/Interest Rate (543) Total amount reclassified from AOCI to income (551) Balance, December 31, 2018 $ 811 Cumulative effect adjustment from the adoption of ASU 2017-12(1) 9 Amount recorded in AOCI Interest Rate 33 Currency (56) Currency/Interest Rate 414 Total amount recorded in AOCI 391 Amount reclassified from AOCI to income Interest Rate (58) Currency (6) Currency/Interest Rate (315) Total amount reclassified from AOCI to income (379) Balance, December 31, 2019 $ 832 Amount recorded in AOCI Interest Rate 47 Currency (64) Currency/Interest Rate (828) Total amount recorded in AOCI (845) Amount reclassified from AOCI to income Interest Rate (40) Currency (5) Currency/Interest Rate (110) Total amount reclassified from AOCI to income (155) Balance, December 31, 2020 $ (168) _________ (1) See Note 2 for details. The changes in fair value of cash flow hedges are deferred in AOCI and are included in “Net unrealized investment gains (losses)” in the Consolidated Statements of Comprehensive Income; these amounts are then reclassified to earnings when the hedged item affects earnings. Using December 31, 2020 values, it is estimated that a pre-tax gain of approximately $230 million is expected to be reclassified from AOCI to earnings during the subsequent twelve months ending December 31, 2021. The exposures the Company is hedging with these qualifying cash flow hedges include the variability of future cash flows from forecasted transactions denominated in foreign currencies, the purchases of invested assets, and the receipt or payment of variable interest on existing financial instruments. The maximum length of time over which the Company is hedging its exposure to the variability in future cash flows for forecasted transactions is 10 years. There were no material amounts reclassified from AOCI into earnings relating to instances in which the Company discontinued cash flow hedge accounting because the forecasted transaction did not occur by the anticipated date or within the additional time period permitted by the authoritative guidance for the accounting for derivatives and hedging. In addition, there were no instances in which the Company discontinued fair value hedge accounting due to a hedged firm commitment no longer qualifying as a fair value hedge. For net investment hedges, in addition to derivatives, the Company uses foreign currency denominated debt to hedge the risk of change in the net investment in a foreign subsidiary due to changes in exchange rates. For effective net investment hedges, the amounts, before applicable taxes, recorded in the cumulative translation adjustment within AOCI were $(149) million for the year ended December 31, 2020, $4 million for the year ended December 31, 2019, and $6 million for the year ended December 31 2018. Credit Derivatives The following table provides a summary of the notional and fair value of written credit protection. The Company’s maximum amount at risk under these credit derivatives, assuming the value of the underlying referenced securities become worthless, is equal to the notional amounts. These credit derivatives have maturities of less than 27 years for index references. December 31, 2020 NAIC Rating Designation of Underlying Credit Obligation(1) NAIC 1 NAIC 2 NAIC 3 NAIC 4 NAIC 5 NAIC 6 Total Gross Notional Fair Value Gross Notional Fair Value Gross Notional Fair Value Gross Notional Fair Value Gross Notional Fair Value Gross Notional Fair Value Gross Notional Fair Value (in millions) Single name reference(2) $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 Index reference(2) 50 0 0 0 3,003 63 0 0 0 0 0 0 3,053 63 Total $ 50 $ 0 $ 0 $ 0 $ 3,003 $ 63 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 3,053 $ 63 December 31, 2019 NAIC Rating Designation of Underlying Credit Obligation(1) NAIC 1 NAIC 2 NAIC 3 NAIC 4 NAIC 5 NAIC 6 Total Gross Notional Fair Value Gross Notional Fair Value Gross Notional Fair Value Gross Notional Fair Value Gross Notional Fair Value Gross Notional Fair Value Gross Notional Fair Value (in millions) Single name reference(2) $ 36 $ 0 $ 60 $ 1 $ 4 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 100 $ 1 Index reference(2) 50 0 0 0 570 13 0 0 0 0 72 7 692 20 Total $ 86 $ 0 $ 60 $ 1 $ 574 $ 13 $ 0 $ 0 $ 0 $ 0 $ 72 $ 7 $ 792 $ 21 _________ (1) The NAIC rating designations are based on availability and the lowest ratings among Moody's Investors Service, Inc. ("Moody's"), Standard & Poor’s Rating Services (“S&P”) and Fitch Ratings Inc. (“Fitch”). If no rating is available from a rating agency, a NAIC 6 rating is used. (2) Single name credit default swaps may reference to the credit of corporate debt, sovereign debt, and structured finance. Index references NAIC designations are based on the lowest rated single name reference included in the index. In addition to writing credit protection, the Company has purchased credit protection using credit derivatives in order to hedge specific credit exposures in the Company’s investment portfolio. As of December 31, 2020 and 2019, the Company had $307 million and $6 million of outstanding notional amounts, reported at fair value as a liability of $28 million and $0 million, respectively. Counterparty Credit Risk The Company is exposed to losses in the event of non-performance by counterparties to financial derivative transactions with a positive fair value. The Company manages credit risk by: (i) entering into derivative transactions with highly rated major international financial institutions and other creditworthy counterparties governed by master netting agreements, as applicable; (ii) trading through central clearing and OTC parties; (iii) obtaining collateral, such as cash and securities, when appropriate; and (iv) setting limits on single party credit exposures which are subject to periodic management review. Substantially all of the Company’s derivative agreements have zero thresholds which require daily full collateralization by the party in a liability position. In addition, certain of the Company’s derivative agreements contain credit-risk related contingent features; if the credit rating of one of the parties to the derivative agreement is to fall below a certain level, the party with positive fair value could request termination at the then fair value or demand immediate full collateralization from the party whose credit rating fell and is in a net liability position.

Fair Value of Assets and Liabil

Fair Value of Assets and Liabilities	12 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value of Assets and Liabilities	FAIR VALUE OF ASSETS AND LIABILITIES Fair Value Measurement —Fair value represents the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The authoritative fair value guidance establishes a framework for measuring fair value that includes a hierarchy used to classify the inputs used in measuring fair value. The level in the fair value hierarchy within which the fair value measurement falls is determined based on the lowest level input that is significant to the fair value measurement. The levels of the fair value hierarchy are as follows: Level 1—Fair value is based on unadjusted quoted prices in active markets that are accessible to the Company for identical assets or liabilities. The Company’s Level 1 assets and liabilities primarily include certain cash equivalents and short-term investments, equity securities and derivative contracts that trade on an active exchange market. Level 2—Fair value is based on significant inputs, other than quoted prices included in Level 1, that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the asset or liability through corroboration with observable market data. Level 2 inputs include quoted market prices in active markets for similar assets and liabilities, quoted market prices in markets that are not active for identical or similar assets or liabilities, and other market observable inputs. The Company’s Level 2 assets and liabilities include: fixed maturities (corporate public and private bonds, most government securities, certain asset-backed and mortgage-backed securities, etc.), certain equity securities (mutual funds, which do not trade in active markets because they are not publicly available), certain commercial mortgage loans, short-term investments and certain cash equivalents (primarily commercial paper), and certain OTC derivatives. Level 3—Fair value is based on at least one significant unobservable input for the asset or liability. The assets and liabilities in this category may require significant judgment or estimation in determining the fair value. The Company’s Level 3 assets and liabilities primarily include: certain private fixed maturities and equity securities, certain manually priced public equity securities and fixed maturities, certain highly structured OTC derivative contracts, certain consolidated real estate funds for which the Company is the general partner and embedded derivatives resulting from certain products with guaranteed benefits. Assets and Liabilities by Hierarchy Level —The tables below present the balances of assets and liabilities reported at fair value on a recurring basis, as of the dates indicated: As of December 31, 2020 Level 1 Level 2 Level 3 Netting(1) Total (in millions) Fixed maturities, available-for-sale: U.S. Treasury securities and obligations of U.S. government authorities and agencies $ 0 $ 40,298 $ 150 $ $ 40,448 Obligations of U.S. states and their political subdivisions 0 12,807 4 12,811 Foreign government bonds 0 110,233 11 110,244 U.S. corporate public securities 0 113,486 69 113,555 U.S. corporate private securities(2) 0 38,689 2,248 40,937 Foreign corporate public securities 0 29,384 153 29,537 Foreign corporate private securities 0 28,727 2,865 31,592 Asset-backed securities(3) 0 14,068 523 14,591 Commercial mortgage-backed securities 0 16,294 9 16,303 Residential mortgage-backed securities 0 2,876 11 2,887 Subtotal 0 406,862 6,043 412,905 Assets supporting experience-rated contractholder liabilities: U.S. Treasury securities and obligations of U.S. government authorities and agencies 0 212 0 212 Obligations of U.S. states and their political subdivisions 0 231 0 231 Foreign government bonds 0 926 19 945 Corporate securities 0 14,990 482 15,472 Asset-backed securities(3) 0 1,583 114 1,697 Commercial mortgage-backed securities 0 1,839 0 1,839 Residential mortgage-backed securities 0 1,018 0 1,018 Equity securities 1,784 259 0 2,043 All other(4) 50 549 20 619 Subtotal 1,834 21,607 635 24,076 Fixed maturities, trading 0 3,671 243 3,914 Equity securities 6,207 1,131 660 7,998 Commercial mortgage and other loans 0 1,092 0 1,092 Other invested assets(5) 227 23,045 366 (21,367) 2,271 Short-term investments 405 5,728 177 6,310 Cash equivalents 1,476 4,005 1 5,482 Other assets 0 0 268 268 Separate account assets(6)(7) 51,826 250,623 1,821 304,270 Total assets $ 61,975 $ 717,764 $ 10,214 $ (21,367) $ 768,586 Future policy benefits(8) $ 0 $ 0 $ 18,879 $ $ 18,879 Policyholders’ account balances 0 0 1,914 1,914 Other liabilities 32 17,828 0 (17,475) 385 Notes issued by consolidated VIEs 0 0 0 0 Total liabilities $ 32 $ 17,828 $ 20,793 $ (17,475) $ 21,178 As of December 31, 2019 Level 1 Level 2 Level 3 Netting(1) Total (in millions) Fixed maturities, available-for-sale: U.S. Treasury securities and obligations of U.S. government authorities and agencies $ 0 $ 35,554 $ 105 $ $ 35,659 Obligations of U.S. states and their political subdivisions 0 11,493 4 11,497 Foreign government bonds 0 119,032 22 119,054 U.S. corporate public securities 0 97,959 380 98,339 U.S. corporate private securities(2) 0 34,749 1,784 36,533 Foreign corporate public securities 0 29,756 69 29,825 Foreign corporate private securities 0 27,237 1,003 28,240 Asset-backed securities(3) 0 12,238 936 13,174 Commercial mortgage-backed securities 0 15,574 0 15,574 Residential mortgage-backed securities 0 3,189 12 3,201 Subtotal 0 386,781 4,315 391,096 Assets supporting experience-rated contractholder liabilities: U.S. Treasury securities and obligations of U.S. government authorities and agencies 0 185 0 185 Obligations of U.S. states and their political subdivisions 0 212 0 212 Foreign government bonds 0 790 24 814 Corporate securities 0 12,966 637 13,603 Asset-backed securities(3) 0 1,593 69 1,662 Commercial mortgage-backed securities 0 1,896 0 1,896 Residential mortgage-backed securities 0 1,158 0 1,158 Equity securities 1,505 285 0 1,790 All other(4) 0 261 0 261 Subtotal 1,505 19,346 730 21,581 Fixed maturities, trading 0 3,597 287 3,884 Equity securities 5,813 939 633 7,385 Commercial mortgage and other loans 0 228 0 228 Other invested assets(5) 6 14,379 567 (13,519) 1,433 Short-term investments 1,806 1,975 155 3,936 Cash equivalents 2,079 6,796 131 9,006 Other assets 0 0 113 113 Separate account assets(6)(7) 46,574 240,433 1,717 288,724 Total assets $ 57,783 $ 674,474 $ 8,648 $ (13,519) $ 727,386 Future policy benefits(8) $ 0 $ 0 $ 12,831 $ 12,831 Policyholders’ account balances 0 0 1,316 1,316 Other liabilities 41 7,495 105 (6,705) 936 Notes issued by consolidated VIEs 0 0 800 800 Total liabilities $ 41 $ 7,495 $ 15,052 $ (6,705) $ 15,883 __________ (1) “Netting” amounts represent cash collateral of $3,892 million and $6,814 million as of December 31, 2020 and 2019, respectively. (2) Excludes notes with fair value of $6,100 million (carrying amount of $5,966 million) and $4,757 million (carrying amount of $4,751 million) as of December 31, 2020 and 2019, respectively, which have been offset with the associated payables under a netting agreement. (3) Includes credit-tranched securities collateralized by syndicated bank loans, sub-prime mortgages, auto loans, credit cards, education loans and other asset types. (4) All other represents cash equivalents and short-term investments. (5) Other invested assets excluded from the fair value hierarchy include certain hedge funds, private equity funds and other funds for which fair value is measured at net asset value (“NAV”) per share (or its equivalent) as a practical expedient. At December 31, 2020 and 2019, the fair values of such investments were $4,136 million and $4,213 million respectively. (6) Separate account assets included in the fair value hierarchy exclude investments in entities that calculate NAV per share (or its equivalent) as a practical expedient. Such investments excluded from the fair value hierarchy include investments in real estate, hedge funds and other invested assets. At December 31, 2020 and 2019, the fair value of such investments were $23,007 million and $23,557 million, respectively. (7) Separate account assets represent segregated funds that are invested for certain customers. Investment risks associated with market value changes are borne by the customers, except to the extent of minimum guarantees made by the Company with respect to certain accounts. Separate account liabilities are not included in the above table as they are reported at contract value and not fair value in the Company’s Consolidated Statements of Financial Position. (8) As of December 31, 2020, the net embedded derivative liability position of $18.9 billion includes $0.5 billion of embedded derivatives in an asset position and $19.4 billion of embedded derivatives in a liability position. As of December 31, 2019, the net embedded derivative liability position of $12.8 billion includes $0.7 billion of embedded derivatives in an asset position and $13.5 billion of embedded derivatives in a liability position. The methods and assumptions the Company uses to estimate the fair value of assets and liabilities measured at fair value on a recurring basis are summarized below. Fixed Maturity Securities —The fair values of the Company’s public fixed maturity securities are generally based on prices obtained from independent pricing services. Prices for each security are generally sourced from multiple pricing vendors, and a vendor hierarchy is maintained by asset type based on historical pricing experience and vendor expertise. The Company ultimately uses the price from the pricing service highest in the vendor hierarchy based on the respective asset type. The pricing hierarchy is updated for new financial products and recent pricing experience with various vendors. Consistent with the fair value hierarchy described above, securities with validated quotes from pricing services are generally reflected within Level 2, as they are primarily based on observable pricing for similar assets and/or other market observable inputs. Typical inputs used by these pricing services include but are not limited to, reported trades, benchmark yields, issuer spreads, bids, offers, and/or estimated cash flow, prepayment speeds and default rates. If the pricing information received from third-party pricing services is deemed not reflective of market activity or other inputs observable in the market, the Company may challenge the price through a formal process with the pricing service or classify the securities as Level 3. If the pricing service updates the price to be more consistent with the presented market observations, the security remains within Level 2. Internally-developed valuations or indicative broker quotes are also used to determine fair value in circumstances where vendor pricing is not available, or where the Company ultimately concludes that pricing information received from the independent pricing services is not reflective of market activity. If the Company concludes the values from both pricing services and brokers are not reflective of market activity, it may override the information with an internally-developed valuation. As of December 31, 2020 and 2019, overrides on a net basis were not material. Pricing service overrides, internally-developed valuations and indicative broker quotes are generally included in Level 3 in the fair value hierarchy. The Company conducts several specific price monitoring activities. Daily analyses identify price changes over predetermined thresholds defined at the financial instrument level. Various pricing integrity reports are reviewed on a daily and monthly basis to determine if pricing is reflective of market activity or if it would warrant any adjustments. Other procedures performed include, but are not limited to, reviews of third-party pricing services methodologies, reviews of pricing trends and back testing. The fair values of private fixed maturities, which are originated by internal private asset managers, are primarily determined using discounted cash flow models. These models primarily use observable inputs that include Treasury or similar base rates plus estimated credit spreads to value each security. The credit spreads are obtained through a survey of private market intermediaries who are active in both primary and secondary transactions, and consider, among other factors, the credit quality and the reduced liquidity associated with private placements. Internal adjustments are made to reflect variation in observed sector spreads. Since most private placements are valued using standard market observable inputs and inputs derived from, or corroborated by, market observable data including, but not limited to observed prices and spreads for similar publicly-traded issues, they have been reflected within Level 2. For certain private fixed maturities, the discounted cash flow model may incorporate significant unobservable inputs, which reflect the Company’s own assumptions about the inputs that market participants would use in pricing the asset. To the extent management determines that such unobservable inputs are significant to the price of a security, a Level 3 classification is made. Assets Supporting Experience-Rated Contractholder Liabilities —Assets supporting experience-rated contractholder liabilities consist primarily of fixed maturity securities, equity securities and derivatives whose fair values are determined consistent with similar instruments described above under “Fixed Maturity Securities” and below under “Equity Securities” and “Derivative Instruments.” Equity Securities —Equity securities consist principally of investments in common and preferred stock of publicly-traded companies, perpetual preferred stock, privately-traded securities, as well as mutual fund shares. The fair values of most publicly-traded equity securities are based on quoted market prices in active markets for identical assets and are classified within Level 1 in the fair value hierarchy. Estimated fair values for most privately traded equity securities are determined using discounted cash flow, earnings multiple and other valuation models that require a substantial level of judgment around inputs and therefore are classified within Level 3. The fair values of mutual fund shares that transact regularly (but do not trade in active markets because they are not publicly available) are based on transaction prices of identical fund shares and are classified within Level 2 in the fair value hierarchy. The fair values of perpetual preferred stock are based on inputs obtained from independent pricing services that are primarily based on indicative broker quotes. As a result, the fair values of perpetual preferred stock are classified as Level 3. Commercial Mortgage and Other Loans —The fair value of loans held and accounted for using the fair value option is determined utilizing pricing indicators from the whole loan market, where investors are committed to purchase these loans at a predetermined price, which is considered the principal exit market for these loans. The Company evaluates the valuation inputs used for these assets, including the existence of predetermined exit prices, the terms of the loans, prevailing interest rates and credit risk, and deems the primary pricing inputs are Level 2 inputs in the fair value hierarchy. Other Invested Assets —Other invested assets primarily include investments in LPs/LLCs, derivatives and certain limited partnerships which are consolidated because the Company is either deemed to exercise control or considered the primary beneficiary of a variable interest entity. These entities are primarily investment companies and follow specialized industry accounting whereby their assets are carried at fair value. The investments held by these entities include various feeder fund investments in underlying master funds (whose underlying holdings generally include public fixed maturities, equity securities and mutual funds), as well as wholly-owned real estate held within other investment funds. For the unconsolidated fund investments, the fair value is primarily determined by the fund managers and is measured at NAV as a practical expedient. Other Assets —Other assets reflected in Level 3 primarily include reinsurance recoverables which are carried at fair value and relate to the reinsurance of the Company’s living benefit guarantees on certain variable annuity contracts. The methods and assumptions used to estimate the fair value are consistent with those described below under “Future Policy Benefits.” Derivative Instruments —Derivatives are recorded at fair value either as assets, within “Assets supporting experience-rated contractholder liabilities,” or “Other invested assets, at fair value,” or as liabilities, within “Other liabilities,” except for embedded derivatives which are recorded with the associated host contract. The fair values of derivative contracts can be affected by changes in interest rates, foreign exchange rates, commodity prices, credit spreads, market volatility, expected returns, NPR, liquidity and other factors. For derivative positions included within Level 3 of the fair value hierarchy, liquidity valuation adjustments are made to reflect the cost of exiting significant risk positions, and consider the bid-ask spread, maturity, complexity and other specific attributes of the underlying derivative position. The Company’s exchange-traded futures and options include Treasury futures, Eurodollar futures, commodity futures, Eurodollar options and commodity options. Exchange-traded futures and options are valued using quoted prices in active markets and are classified within Level 1 in the fair value hierarchy. The majority of the Company’s derivative positions are traded in the OTC derivative market and are classified within Level 2 in the fair value hierarchy. OTC derivatives classified within Level 2 are valued using models that utilize actively quoted or observable market input values from external market data providers, third-party pricing vendors and/or recent trading activity. The Company’s policy is to use mid-market pricing in determining its best estimate of fair value. The fair values of most OTC derivatives, including interest rate and cross-currency swaps, currency forward contracts, commodity swaps, commodity forward contracts, single name credit default swaps, loan commitments held for sale and TBA forward contracts on highly rated mortgage-backed securities issued by U.S. government sponsored entities are determined using discounted cash flow models. The fair values of European style option contracts are determined using Black-Scholes option pricing models. These models’ key inputs include the contractual terms of the respective contract, along with significant observable inputs, including interest rates, currency rates, credit spreads, equity prices, index dividend yields, NPR, volatility and other factors. The Company’s cleared interest rate swaps and credit derivatives linked to an index are valued using models that utilize actively quoted or observable market inputs, including the secured overnight financing rate (“SOFR”) , obtained from external market data providers, third-party pricing vendors and/or recent trading activity. These derivatives are classified as Level 2 in the fair value hierarchy. The majority of the Company’s derivative agreements are with highly rated major international financial institutions. To reflect the market’s perception of its own and the counterparty’s NPR, the Company incorporates additional spreads over LIBOR into the discount rate used in determining the fair value of OTC derivative assets and liabilities that are not otherwise collateralized. Derivatives classified as Level 3 include look-back equity options and other structured products. These derivatives are valued based upon models, such as Monte Carlo simulation models and other techniques that utilize significant unobservable inputs. Level 3 methodologies are validated through periodic comparison of the Company’s fair values to external broker-dealer values. Cash Equivalents and Short-Term Investments —Cash equivalents and short-term investments include money market instruments, commercial paper and other highly liquid debt instruments. Certain money market instruments are valued using unadjusted quoted prices in active markets that are accessible for identical assets and are primarily classified as Level 1. The remaining instruments in this category are generally fair valued based on market observable inputs and these investments have primarily been classified within Level 2. Separate Account Assets —Separate account assets include mutual funds, fixed maturity securities, treasuries, equity securities, real estate and commercial mortgage loans for which values are determined consistent with similar instruments described above under “Fixed Maturity Securities,” “Equity Securities” and “Commercial Mortgage and Other Loans.” Future Policy Benefits —The liability for future policy benefits is related to guarantees primarily associated with the living benefit features of certain variable annuity contracts offered by the Company’s Individual Annuities segment, including guaranteed minimum accumulation benefits (“GMAB”), guaranteed withdrawal benefits (“GMWB”) and guaranteed minimum income and withdrawal benefits (“GMIWB”), accounted for as embedded derivatives. The fair values of these liabilities are calculated as the present value of future expected benefit payments to customers less the present value of future expected rider fees attributable to the embedded derivative feature. This methodology could result in either a liability or asset balance, given changing capital market conditions and various actuarial assumptions. Since there is no observable active market for the transfer of these obligations, the valuations are calculated using internally-developed models with option pricing techniques. The models are based on a risk neutral valuation framework and incorporate premiums for risks inherent in valuation techniques, inputs, and the general uncertainty around the timing and amount of future cash flows. The determination of these risk premiums requires the use of management’s judgment. The significant inputs to the valuation models for these embedded derivatives include capital market assumptions, such as interest rate levels and volatility assumptions, the Company’s market-perceived NPR, as well as actuarially determined assumptions, including contractholder behavior, such as lapse rates, benefit utilization rates, withdrawal rates, and mortality rates. Since many of these assumptions are unobservable and are considered to be significant inputs to the liability valuation, the liability included in future policy benefits has been reflected within Level 3 in the fair value hierarchy . Capital market inputs and actual policyholders’ account values are updated each quarter based on capital market conditions as of the end of the quarter, including interest rates, equity markets and volatility. In the risk neutral valuation, the initial swap curve drives the total return used to grow the policyholders’ account values. The Company’s discount rate assumption is based on the LIBOR swap curve adjusted for an additional spread relative to LIBOR to reflect NPR. Actuarial assumptions, including contractholder behavior and mortality, are reviewed at least annually, and updated based upon emerging experience, future expectations and other data, including any observable market data. These assumptions are generally updated annually unless a material change that the Company feels is indicative of a long-term trend is observed in an interim period. Policyholders’ Account Balances —The liability for policyholders’ account balances is related to certain embedded derivative instruments associated with certain universal life and annuity products that provide the policyholders with the index-linked interest credited over contract specified term periods. The fair values of these liabilities are determined using discounted cash flow models which include capital market assumptions such as interest rates and equity index volatility assumptions, the Company’s market-perceived NPR and actuarially determined assumptions for mortality, lapses and projected hedge costs. As there is no observable active market for these liabilities, the fair value is determined as the present value of account balances paid to policyholders in excess of contractually guaranteed minimums using option pricing techniques for index term periods that contain deposits as of the valuation date, and the expected option cost for future index term periods, where the terms of index crediting rates have not yet been declared by the Company. Premiums for risks inherent in valuation techniques, inputs, and the general uncertainty around the timing and amount of future cash flows are also incorporated in the fair value of these liabilities. Since the valuation of these liabilities require the use of management’s judgement to determine these risk premiums and the use of unobservable inputs, these liabilities are reflected within Level 3 in the fair value hierarchy. Capital market inputs, including interest rates and equity markets volatility, and actual policyholders’ account values are updated each quarter. Actuarial assumptions are reviewed at least annually and updated based upon emerging experience, future expectations and other data, including any observable market data. Aside from these annual updates, assumptions are generally updated only if a material change is observed in an interim period that the Company believes is indicative of a long-term trend. Other Liabilities —Other liabilities include certain derivative instruments and the contingent consideration liability associated with the acquisition of Assurance IQ. The fair values of derivative instruments are primarily determined consistent with those described above under “Derivative Instruments.” For the contingent consideration liability, see Note 1 for additional information. Notes issued by Consolidated VIEs —These notes are based on the fair values of corresponding bank loan collateral. Since the notes are valued based on reference collateral, they are classified as Level 3. See Note 4 and “Fair Value Option” below for additional information. Quantitative Information Regarding Internally - Priced Level 3 Assets and Liabilities —The tables below present quantitative information on significant internally-priced Level 3 assets and liabilities: As of December 31, 2020 Fair Value Valuation Unobservable Inputs Minimum Maximum Weighted Impact of (in millions) Assets: Corporate securities(2)(3) $ 3,697 Discounted cash flow(5) Discount rate 0.40% 25% 4.28% Decrease Market comparables EBITDA multiples(4) 7.0X 15.0X 9.0X Increase Liquidation Liquidation value 12.13% 15.00% 13.02% Increase Equity securities $ 195 Discounted cash flow(5) Discount rate 0.5% 20% Decrease Market comparables EBITDA multiples(4) 1X 8.8X 3.3X Increase Net Asset Value Share price $1 $1,414 $495 Increase Separate account assets-commercial mortgage loans(6) $ 775 Discounted cash flow Spread 1.60% 2.98% 1.80% Decrease Liabilities: Future policy benefits(7) $ 18,879 Discounted cash flow Lapse rate(9) 1% 20% Decrease Spread over LIBOR(10) 0.06% 1.17% Decrease Utilization rate(11) 39% 96% Increase Withdrawal rate See table footnote (12) below. Mortality rate(13) 0% 15% Decrease Equity volatility curve 18% 26% Increase Policyholders’ account balances(8) $ 1,914 Discounted Lapse rate(9) 1% 42% Decrease Spread over LIBOR(10) 0.06% 1.17% Decrease Mortality rate(13) 0% 24% Decrease Equity volatility curve 6% 42% Increase As of December 31, 2019 Fair Value Valuation Unobservable Inputs Minimum Maximum Weighted Impact of (in millions) Assets: Corporate securities(2)(3) $ 1,424 Discounted cash flow(5) Discount rate 0.49% 20% 7.41% Decrease Market comparables EBITDA multiples(4) 5.7X 9.2X 7.3X Increase Liquidation Liquidation value 14.25% 83.61% 59.47% Increase Equity securities $ 210 Discounted cash flow(5) Discount rate 10% 30% Decrease Market comparables EBITDA multiples(4) 1X 10.1X 5.4X Increase Net Asset Value Share price $5 $1,353 $451 Increase Separate account assets-commercial mortgage loans(6) $ 796 Discounted cash flow Spread 1.11% 1.85% 1.26% Decrease Liabilities: Future policy benefits(7) $ 12,831 Discounted cash flow Lapse rate(9) 1% 18% Decrease Spread over LIBOR(10) 0.10% 1.23% Decrease Utilization rate(11) 43% 97% Increase Withdrawal rate See table footnote (12) below. Mortality rate(13) 0% 15% Decrease Equity volatility curve 13% 23% Increase Policyholders’ account balances(8) $ 1,316 Discounted Lapse rate(9) 1% 42% Decrease Spread over LIBOR(10) 0.10% 1.23% Decrease Mortality rate(13) 0% 24% Decrease Equity volatility curve 6% 25% Increase __________ (1) Conversely, the impact of a decrease in input would have the opposite impact on fair value as that presented in the table. (2) Includes assets classified as fixed maturities available-for-sale, assets supporting experience-rated contractholder liabilities and fixed maturities, trading. (3) Excludes notes which have been offset with the associated payables under a netting agreement. (4) Represents multiples of earnings before interest, taxes, depreciation and amortization (“EBITDA”), and are amounts used when the Company has determined that market participants would use such multiples when valuing the investments. (5) Includes certain investments where enterprise value is less than the amount needed to support senior and subordinated claims. These investments typically use a range of discount rates (10% to 20%), therefore presenting a range, rather than a weighted average, is a more meaningful representation of the unobservable inputs used in the valuation. (6) Changes in the fair value of separate account assets are borne by customers and thus are offset by changes in separate account liabilities on the Company’s Consolidated Statements of Financial Position. As a result, changes in value associated with these investments are not reflected in the Company’s Consolidated Statements of Operations. (7) Future policy benefits primarily represent general account liabilities for the living benefit features of the Company’s variable annuity contracts which are accounted for as embedded derivatives. Since the valuation methodology for these liabilities uses a range of inputs that vary at the contract level over the cash flow projection period, presenting a range, rather than a weighted average, is a more meaningful representation of the unobservable inputs used in the valuation. (8) Policyholders’ account balances primarily represent general account liabilities for the index-linked interest credited on certain of the Company’s life and annuity products that are accounted for as embedded derivatives. Since the valuation methodology for these liabilities uses a range of inputs that vary at the contract level over the cash flow projection period, presenting a range, rather than a weighted average, is a more meaningful representation of the unobservable inputs used in the valuation. (9) Lapse rates for contracts with living benefit guarantees are adjusted at the contract level based on the in-the-moneyness of the living benefit and reflect other factors, such as the applicability of any surrender charges. Lapse rates are reduced when contracts are more in-the-money. Lapse rates for contracts with index-linked crediting guarantees may be adjusted at the contract level based on the applicability of any surrender charges, product type, and market related factors such as interest rates. Lapse rates are also generally assumed to be lower for the period where surrender charges apply. For any given contract, lapse rates vary throughout the period over which cash flows are projected for the purposes of valuing these embedded derivatives. (10) The spread over the London Inter-Bank Offered Rate (“LIBOR”) swap curve represents the premium added to the proxy for the risk-free rate (LIBOR) to reflect the Company’s estimates of rates that a market participant would use to value the living benefits in both the accumulation and payout phases and index-linked interest crediting guarantees. This spread includes an estimate of NPR, which is the risk that the obligation will not be fulfilled by the Company. NPR is primarily estimated by utilizing the credit spreads associated with issuing funding agreements, adjuste

Deferred Policy Acquisition Cos

Deferred Policy Acquisition Costs	12 Months Ended
	Dec. 31, 2020
Deferred Policy Acquisition Costs Disclosures [Abstract]
Deferred Policy Acquisition Costs	DEFERRED POLICY ACQUISITION COSTS The balances of and changes in DAC as of and for the years ended December 31, are as follows: 2020 2019 2018 (in millions) Balance, beginning of period $ 19,912 $ 20,058 $ 18,992 Capitalization of commissions, sales and issue expenses 2,763 2,966 2,870 Amortization—Impact of assumption and experience unlocking and true-ups (36) (164) (217) Amortization—All other (2,185) (2,168) (2,056) Change due to unrealized investment gains and losses (379) (713) 519 Foreign currency translation 142 (8) (32) Other(1) (1,190) (59) (18) Balance, end of period $ 19,027 $ 19,912 $ 20,058 __________ (1) “Other” for 2020 primarily represents the impact related to the sale of The Prudential Life Insurance Company of Korea, Ltd. of $(1,193) million. “Other” for 2019 primarily represents the impact related to the sale of the Company’s Pramerica of Italy subsidiary of $(46) million and DAC ceded to a third-party reinsurer of $(14) million. “Other” for 2018 represents the impact related to the sale of the Company’s Pramerica of Poland subsidiary of $(38) million and the impact of the elimination of Gibraltar Life’s one-month reporting lag of $20 million.

Value of Business Acquired

Value of Business Acquired	12 Months Ended
	Dec. 31, 2020
Present Value of Future Insurance Profits [Abstract]
Value of Business Acquired	VALUE OF BUSINESS ACQUIRED The balances of and changes in VOBA as of and for the years ended December 31, are as follows: 2020 2019 2018 (in millions) Balance, beginning of period $ 1,110 $ 1,850 $ 1,591 Amortization—Impact of assumption and experience unlocking and true-ups (317) (139) 0 Amortization—All other (212) (235) (276) Change due to unrealized investment gains and losses 418 (478) 455 Interest 56 64 69 Foreign currency translation 48 10 23 Other 0 38 (12) Balance, end of period $ 1,103 $ 1,110 $ 1,850 The following table provides VOBA balances for the year ended December 31, 2020: VOBA (in millions) CIGNA $ 219 Prudential Annuities Holding Co. $ 29 Gibraltar Life $ 852 Gibraltar BSN Life Berhad $ 3 The following table provides estimated future amortization, net of interest, for the periods indicated: 2021 2022 2023 2024 2025 (in millions) Estimated future VOBA amortization $ 99 $ 93 $ 85 $ 79 $ 72

Investments In Operating Joint

Investments In Operating Joint Ventures	12 Months Ended
	Dec. 31, 2020
Equity Method Investments and Joint Ventures [Abstract]
Investments In Operating Joint Ventures	INVESTMENTS IN OPERATING JOINT VENTURES The Company has made investments in certain joint ventures that are strategic in nature and made other than for the sole purpose of generating investment income. These investments are accounted for under the equity method of accounting and are included in “Other assets” in the Company’s Consolidated Statements of Financial Position. The earnings from these investments are included on an after-tax basis in “Equity in earnings of operating joint ventures, net of taxes” in the Company’s Consolidated Statements of Operations. The Company has made these investments through its PGIM and International Businesses segments, and its Corporate and Other operations. The summarized financial information for the Company’s operating joint ventures has been included in the summarized combined financial information for all significant equity method investments shown in Note 3. The following table sets forth information related to the Company’s investments in operating joint ventures as of and for the years ended December 31: 2020 2019 2018 (in millions) Investment in operating joint ventures $ 1,394 $ 1,309 $ 1,329 Dividends received from operating joint ventures $ 60 $ 70 $ 93 After-tax equity in earnings of operating joint ventures $ 96 $ 100 $ 76 For the years ended December 31, 2020, 2019 and 2018, the Company recognized $30 million, $29 million and $32 million, respectively, of asset management fee income for services the Company provided to these operating joint ventures.

Goodwill and Other Intangibles

Goodwill and Other Intangibles	12 Months Ended
	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangibles	GOODWILL AND OTHER INTANGIBLES The changes in the carrying value of goodwill by reportable segment are as follows: PGIM Retirement Assurance IQ International Other Total (in millions) Goodwill balance, December 31, 2017: $ 235 $ 444 $ 0 $ 164 $ 0 $ 843 Acquisitions 0 11 0 0 11 22 Foreign currency translation (2) 0 0 0 0 (2) Goodwill balance, December 31, 2018: 233 455 0 164 11 863 Acquisitions 22 0 2,128 0 0 2,150 Foreign currency translation (1) 0 0 1 0 0 Goodwill balance, December 31, 2019: 254 455 2,128 165 11 3,013 Foreign currency translation and other(1) 4 0 12 (21) 27 22 Goodwill balance, December 31, 2020: $ 258 $ 455 $ 2,140 $ 144 $ 38 $ 3,035 __________ (1) The goodwill associated with Assurance IQ includes a measurement period adjustment made during 2020. The goodwill reclass between International Businesses and Other relates to an operation that became classified as divested business and transferred to Corporate and Other during 2020. The Company tests goodwill for impairment annually, as of December 31, and more frequently if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount, as discussed in further detail in Note 2. The Company performed the annual goodwill test using the quantitative approach for all reporting units at December 31, 2020. As of December 31, 2019, the Company performed a qualitative goodwill impairment assessment for Assurance IQ and applied the quantitative goodwill impairment approach for all other reporting units. As of December 31, 2020, the estimated fair value of Assurance IQ, based on a weighted average of the valuation approaches described above, exceeded the carrying value by 10%, while the estimated fair values of the other reporting units with allocated goodwill exceeded their carrying value by a weighted average of 229%. Estimating the fair value of reporting units is a subjective process that involves the use of significant estimates by management. For all reporting units tested, unanticipated changes in business performance or regulatory environment, market declines or other events impacting the fair value of these businesses, including changes in market multiples, discount rates, interest rates and growth rates assumptions or increases in the level of equity required to support these businesses, could cause an impairment of goodwill, resulting in a charge to income. Other Intangibles Other intangible balances at December 31, are as follows: 2020 2019 Gross Carrying Amount Accumulated Net Carrying Amount Gross Carrying Amount Accumulated Net Carrying Amount (in millions) Subject to amortization: Mortgage servicing rights $ 819 $ (512) $ 307 $ 745 $ (468) $ 277 Customer relationships 247 (175) 72 244 (153) 91 Software and other 192 (60) 132 201 (38) 163 Not subject to amortization 69 N/A 69 69 N/A 69 Total $ 580 $ 600 The fair values of net mortgage servicing rights were $309 million and $287 million at December 31, 2020 and 2019, respectively. Amortization expense for other intangibles was $102 million, $65 million and $61 million for the years ending December 31, 2020, 2019 and 2018, respectively. The amortization expense amounts for 2020, 2019 and 2018 do not include impairments recorded for mortgage servicing rights or other intangibles. See the nonrecurring fair value measurements section of Note 6 for more information regarding these impairments. The following table provides estimated future amortization for the periods indicated: 2021 2022 2023 2024 2025 (in millions) Estimated future amortization expense of other intangibles $ 101 $ 93 $ 76 $ 46 $ 38

Leases

Leases	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Operating Leases, Lessee	LEASES The Company occupies leased office space and other facilities in many locations under various long-term leases and has entered into numerous leases covering the long-term use of computers and other equipment. The leases, depending on their specific terms, are classified as either operating or finance with the vast majority of leases falling under the operating classification. The leases in the Company’s portfolio have remaining lease terms from less than one year to 28 years, some of which include options to extend the leases for up to 15 years, and some of which include options to terminate the leases within 8 years. An analysis of all economic and non-economic factors associated with leases containing certain options, including factors such as the existence of cancellation penalties, leasehold improvements made to the underlying assets and location of the underlying assets, is conducted to determine whether those leases are reasonably certain to renew, and hence, should be included in the lease term that is used to establish the right-of-use assets and lease liabilities for those arrangements. The Company does not have residual guarantees associated with its lessee arrangements, nor are there any restrictions or covenants associated with its lease arrangements. Lessee Supplemental balance sheet information related to leases where the Company is the lessee is included below. Right-of-use assets and lease liabilities are included within “Other assets” and “Other liabilities” respectively. December 31, 2020 2019 ($ in millions) Operating Leases: Right-of-use assets $ 466 $ 554 Lease liabilities $ 511 $ 594 Weighted average remaining lease term 6 years 6 years Weighted average discount rate 2.22 % 2.46 % Maturities of operating lease liabilities are as follows: December 31, 2020 (in millions) 2021 $ 156 2022 121 2023 81 2024 72 2025 46 Thereafter 80 Total lease payments 556 Less imputed interest (45) Total $ 511 Lease expense is included in “General and administrative expenses,” which was comprised of operating lease and short-term costs. Operating lease costs were $156 million and $138 million for the years ended December 31, 2020 and 2019, respectively. Short-term lease costs were $104 million and $101 million for the years ended December 31, 2020 and 2019, respectively. Short-term lease costs relate to those leases with terms of twelve months or less that do not include an option to purchase the underlying asset that is reasonably certain of exercise.
Operating Leases, Lessor	LEASES The Company occupies leased office space and other facilities in many locations under various long-term leases and has entered into numerous leases covering the long-term use of computers and other equipment. The leases, depending on their specific terms, are classified as either operating or finance with the vast majority of leases falling under the operating classification. The leases in the Company’s portfolio have remaining lease terms from less than one year to 28 years, some of which include options to extend the leases for up to 15 years, and some of which include options to terminate the leases within 8 years. An analysis of all economic and non-economic factors associated with leases containing certain options, including factors such as the existence of cancellation penalties, leasehold improvements made to the underlying assets and location of the underlying assets, is conducted to determine whether those leases are reasonably certain to renew, and hence, should be included in the lease term that is used to establish the right-of-use assets and lease liabilities for those arrangements. The Company does not have residual guarantees associated with its lessee arrangements, nor are there any restrictions or covenants associated with its lease arrangements. Lessee Supplemental balance sheet information related to leases where the Company is the lessee is included below. Right-of-use assets and lease liabilities are included within “Other assets” and “Other liabilities” respectively. December 31, 2020 2019 ($ in millions) Operating Leases: Right-of-use assets $ 466 $ 554 Lease liabilities $ 511 $ 594 Weighted average remaining lease term 6 years 6 years Weighted average discount rate 2.22 % 2.46 % Maturities of operating lease liabilities are as follows: December 31, 2020 (in millions) 2021 $ 156 2022 121 2023 81 2024 72 2025 46 Thereafter 80 Total lease payments 556 Less imputed interest (45) Total $ 511 Lease expense is included in “General and administrative expenses,” which was comprised of operating lease and short-term costs. Operating lease costs were $156 million and $138 million for the years ended December 31, 2020 and 2019, respectively. Short-term lease costs were $104 million and $101 million for the years ended December 31, 2020 and 2019, respectively. Short-term lease costs relate to those leases with terms of twelve months or less that do not include an option to purchase the underlying asset that is reasonably certain of exercise.

Policyholders' Liabilities

Policyholders' Liabilities	12 Months Ended
	Dec. 31, 2020
Liability for Future Policy Benefits and Unpaid Claims and Claims Adjustment Expense [Abstract]
Policyholders' Liabilities	POLICYHOLDERS’ LIABILITIES Future Policy Benefits Future policy benefits at December 31 for the years indicated are as follows: 2020 2019 (in millions) Life insurance $ 195,245 $ 191,654 Individual and group annuities and supplementary contracts 77,254 75,940 Other contract liabilities 30,873 23,052 Subtotal future policy benefits excluding unpaid claims and claim settlement expenses 303,372 290,646 Unpaid claims and claim settlement expenses 2,971 2,881 Total future policy benefits $ 306,343 $ 293,527 Life insurance liabilities include reserves for death and endowment policy benefits, terminal dividends and certain health benefits. Individual and group annuities and supplementary contracts liabilities include reserves for life contingent immediate annuities and life contingent group annuities. Other contract liabilities include unearned premiums and certain other reserves for group, annuities and individual life and health products. Future policy benefits for individual participating traditional life insurance are based on the net level premium method, calculated using the guaranteed mortality and nonforfeiture interest rates which range from 2.5% to 7.5%. Participating insurance represented 3% and 2% of direct individual life insurance in force as of December 31, 2020 and 2019, respectively, and 10%, 11% and 12% of direct individual life insurance premiums for 2020, 2019 and 2018, respectively. Future policy benefits for individual non-participating traditional life insurance policies, group and individual long-term care policies and individual health insurance policies are generally equal to the present value of future benefit payments and related expenses, less the present value of future net premiums. Assumptions as to mortality, morbidity and persistency are based on the Company’s experience, industry data, and/or other factors, when the basis of the reserve is established. Interest rates used in the determination of the present values range from (0.1)% to 7.8%. Future policy benefits for individual and group annuities and supplementary contracts with life contingencies are generally equal to the present value of expected future payments. Assumptions as to mortality are based on the Company’s experience, industry data, and/or other factors, when the basis of the reserve is established. The interest rates used in the determination of the present values range from (0.2)% to 12.1%; less than 1% of the reserves are based on an interest rate in excess of 8%. Future policy benefits for other contract liabilities are generally equal to the present value of expected future payments based on the Company’s experience, except for example, certain group insurance coverages for which future policy benefits are equal to gross unearned premium reserves. The interest rates used in the determination of the present values range from 0.2% to 6.5%. The Company’s liability for future policy benefits is also inclusive of liabilities for guaranteed benefits related to certain long-duration life and annuity contracts. Liabilities for guaranteed benefits with embedded derivative features are primarily in “other contract liabilities” in the table above. The remaining liabilities for guaranteed benefits are primarily reflected with the underlying contract in the table above. See Note 13 for additional information regarding liabilities for guaranteed benefits related to certain long-duration life and annuity contracts. Reserves for recognizing a premium deficiency included in “Future policy benefits” are established, if necessary, when the liability for future policy benefits plus the present value of expected future gross premiums are determined to be insufficient to provide for expected future policy benefits and expenses. Additionally, in certain instances the policyholder liability for a particular line of business may not be deficient in the aggregate to trigger loss recognition, but the pattern of earnings may be such that profits are expected to be recognized in earlier years followed by losses in later years. In these situations, accounting standards require that an additional PFL liability be recognized by an amount necessary to sufficiently offset the losses that would be recognized in later years. Premium deficiencies have been recognized in the past for the group single premium annuity business, which consists of limited-payment, long-duration traditional, non-participating annuities; structured settlements; single premium immediate annuities with life contingencies; long-term care; certain individual health policies; and certain interest-sensitive life products. Unpaid claims and claim settlement expenses primarily reflect the Company’s estimate of future disability claim payments and expenses as well as estimates of claims incurred but not yet reported as of the balance sheet date related to group disability products. Unpaid claim liabilities that are discounted use interest rates ranging from 1.8% to 6.4%. Policyholders’ Account Balances Policyholders’ account balances at December 31 for the years indicated are as follows: 2020 2019 (in millions) Individual annuities $ 47,663 $ 44,391 Group annuities 30,700 27,843 Guaranteed investment contracts and guaranteed interest accounts 14,071 13,759 Funding agreements 6,938 4,119 Interest-sensitive life contracts 41,711 40,364 Dividend accumulation and other deposit type funds 20,599 21,634 Total policyholders’ account balances $ 161,682 $ 152,110 Policyholders’ account balances primarily represent an accumulation of account deposits plus credited interest less withdrawals, expense charges and mortality charges, if applicable. These policyholders’ account balances also include provisions for benefits under non-life contingent payout annuities and certain unearned revenues. Policyholders’ account balances also include amounts representing the fair value of embedded derivative instruments associated with the index-linked features of certain universal life and annuity products. See Note 6 for additional information on the fair value of these embedded derivative instruments. Included in “Funding agreements” at December 31, 2020 and 2019 are $4,402 million and $4,104 million, respectively, related to the Company’s Funding Agreement Notes Issuance Program (“FANIP”). Under this program, which has a maximum authorized amount of $15 billion of medium-term notes and $3 billion of commercial paper, Delaware statutory trusts issue short-term commercial paper and/or medium-term notes to investors that are secured by funding agreements issued to the trusts by PICA. The outstanding commercial paper and notes have fixed or floating interest rates that range from 0.0% to 3.5% and original maturities ranging from two months to five years. Included in the amounts at December 31, 2020 and 2019 is the medium-term note liability, which is carried at amortized cost, of $2,414 million and $2,414 million, respectively and short-term note liability of $1,991 million and $1,697 million, respectively. Also included in “Funding agreements” are collateralized funding agreements issued to the Federal Home Loan Bank of New York (“FHLBNY”) at December 31, 2020 and 2019 totaled $2,522 million and $0 million, respectively. These obligations, which are carried at amortized cost, have fixed or floating interest rates that range from 0.6% to 1.9% and original maturities ranging from nine months to seven years. For additional details on the FHLBNY program, see Note 17. Interest crediting rates range from 0% to 6.3% for interest-sensitive life contracts and from 0% to 13.3% for contracts other than interest-sensitive life. Less than 1% of policyholders’ account balances have interest crediting rates in excess of 8%.

Certain Long-Duration Contracts

Certain Long-Duration Contracts with Guarantees	12 Months Ended
	Dec. 31, 2020
Long-Duration Contracts, Assumptions Supporting Guarantee Obligations [Abstract]
Certain Long-Duration Contracts With Guarantees	CERTAIN LONG-DURATION CONTRACTS WITH GUARANTEES The Company issues variable annuity contracts through its separate accounts for which investment income and investment gains and losses accrue directly to, and investment risk is borne by, the contractholder. The Company also issues variable annuity contracts with general and separate account options where the Company contractually guarantees to the contractholder a return of no less than total deposits made to the contract adjusted for any partial withdrawals (“return of net deposits”). In certain of these variable annuity contracts, the Company also contractually guarantees to the contractholder a return of no less than (1) total deposits made to the contract adjusted for any partial withdrawals plus a minimum return (“minimum return”), and/or (2) the highest contract value on a specified date adjusted for any withdrawals (“contract value”). These guarantees include benefits that are payable in the event of death, annuitization or at specified dates during the accumulation period and withdrawal and income benefits payable during specified periods. The Company also issues annuity contracts and single premium life contracts with market value adjusted investment options (“MVAs”). Annuity contracts and single premium life contracts with MVAs provide for a return of principal plus a fixed rate of return if held-to-maturity, or, alternatively, a “market adjusted value” if surrendered prior to maturity or if funds are reallocated to other investment options. The market value adjustment may result in a gain or loss to the Company, depending on crediting rates or an indexed rate at surrender, as applicable. The Company also issues fixed deferred and immediate annuity contracts, some without MVA, that have a guaranteed credited rate and annuity benefit. The Company also issues indexed variable annuity contracts for which the return is tied to the return of specific indices where the Company contractually guarantees to the contractholder a return of no less than total deposits made to the contract adjusted for any partial withdrawals upon death. In addition, the Company issues certain variable life, variable universal life and universal life contracts where the Company contractually guarantees to the contractholder a death benefit even when there is insufficient value to cover monthly mortality and expense charges, whereas otherwise the contract would typically lapse (“no-lapse guarantee”). Variable life and variable universal life contracts are offered with general and separate account options. The assets supporting the variable portion of all variable annuities are carried at fair value and reported as “Separate account assets” with an equivalent amount reported as “Separate account liabilities.” Amounts assessed against the contractholders for mortality, administration, and other services are included within revenue in “Policy charges and fee income” and changes in liabilities for minimum guarantees are generally included in “Policyholders’ benefits” or “Realized investment gains (losses), net.” For those guarantees of benefits that are payable in the event of death, the net amount at risk is generally defined as the current guaranteed minimum death benefit in excess of the current account balance at the balance sheet date. The Company’s primary risk exposures for these contracts relates to actual deviations from, or changes to, the assumptions used in the original pricing of these products, including fixed income and equity market returns, contract lapses and contractholder mortality. For guarantees of benefits that are payable at annuitization, the net amount at risk is generally defined as the present value of the minimum guaranteed annuity payments available to the contractholder determined in accordance with the terms of the contract in excess of the current account balance. The Company’s primary risk exposures for these contracts relates to actual deviations from, or changes to, the assumptions used in the original pricing of these products, including fixed income and equity market returns, timing of annuitization, contract lapses and contractholder mortality. For guarantees of benefits that are payable at withdrawal, the net amount at risk is generally defined as the present value of the minimum guaranteed withdrawal payments available to the contractholder determined in accordance with the terms of the contract in excess of the current account balance. For guarantees of accumulation balances, the net amount at risk is generally defined as the guaranteed minimum accumulation balance minus the current account balance. The Company’s primary risk exposures for these contracts relates to actual deviations from, or changes to, the assumptions used in the original pricing of these products, including equity market returns, interest rates, market volatility and contractholder behavior. The Company’s contracts with guarantees may offer more than one type of guarantee in each contract; therefore, the amounts listed may not be mutually exclusive. The liabilities related to the net amount at risk are reflected within “Future policy benefits.” As of December 31, 2020 and 2019, the Company had the following guarantees associated with these contracts, by product and guarantee type: December 31, 2020 December 31, 2019 In the Event At Annuitization / In the Event At Annuitization / ($ in millions) Annuity Contracts Return of net deposits Account value $ 133,726 $ 17 $ 130,893 $ 16 Net amount at risk $ 214 $ 0 $ 244 $ 0 Average attained age of contractholders 68 years 75 years 67 years 75 years Minimum return or contract value Account value $ 31,157 $ 148,841 $ 32,609 $ 147,511 Net amount at risk $ 2,327 $ 4,203 $ 2,626 $ 4,578 Average attained age of contractholders 70 years 68 years 69 years 68 years Average period remaining until earliest expected annuitization N/A 0.20 years N/A 0.17 years __________ (1) Includes income and withdrawal benefits. December 31, 2020 2019 In the Event of Death ($ in millions) Variable Life, Variable Universal Life and Universal Life Contracts Separate account value $ 8,939 $ 9,983 General account value $ 19,279 $ 18,225 Net amount at risk $ 222,703 $ 245,929 Average attained age of contractholders 55 years 55 years Account balances of variable annuity contracts with guarantees were invested in separate account investment options as follows: December 31, 2020 2019 (in millions) Equity funds $ 94,270 $ 93,010 Bond funds 62,549 60,074 Balanced funds 0 1,592 Money market funds 3,156 3,530 Total $ 159,975 $ 158,206 In addition to the amounts invested in separate account investment options above, $7,729 million at December 31, 2020, and $7,781 million at December 31, 2019, of account balances of variable annuity contracts with guarantees, inclusive of contracts with MVA features, were invested in general account investment options. For the years ended December 31, 2020, 2019 and 2018, there were no transfers of assets, other than cash, from the general account to any separate account, and accordingly no gains or losses recorded. Liabilities for Guarantee Benefits The table below summarizes the changes in general account liabilities for guarantees. The liabilities for GMDB and GMIB are included in “Future policy benefits” and the related changes in the liabilities are included in “Policyholders’ benefits.” GMAB, GMWB and GMIWB are accounted for as embedded derivatives and are recorded at fair value within “Future policy benefits.” Changes in the fair value of these derivatives, including changes in the Company’s own risk of non-performance, along with any fees attributed or payments made relating to the derivative, are recorded in “Realized investment gains (losses), net.” See Note 6 for additional information regarding the methodology used in determining the fair value of these embedded derivatives. The Company maintains a portfolio of derivative investments that serve as a partial hedge of the risks associated with these products, for which the changes in fair value are also recorded in “Realized investment gains (losses), net.” This portfolio of derivative investments does not qualify for hedge accounting treatment under U.S. GAAP. Additionally, the Company externally reinsures the guaranteed benefit features associated with certain contracts. See Note 14 for further information regarding the external reinsurance arrangement. GMDB GMIB GMAB/GMWB/GMIWB Variable Life, Annuity Annuity Annuity (in millions) Balance at December 31, 2017 $ 5,110 $ 697 $ 419 $ 8,721 Incurred guarantee benefits(1) 791 125 (14) 206 Paid guarantee benefits (77) (88) (5) 0 Change in unrealized investment gains and losses (406) (20) (20) 0 Other(2) 0 (1) (2) 0 Balance at December 31, 2018 5,418 713 378 8,927 Incurred guarantee benefits(1) 1,492 82 (8) 3,905 Paid guarantee benefits (111) (69) (4) 0 Change in unrealized investment gains and losses 805 27 (15) 0 Other(2) (2) 0 4 (1) Balance at December 31, 2019 7,602 753 355 12,831 Incurred guarantee benefits(1) 1,389 162 12 6,103 Paid guarantee benefits (126) (89) (4) 0 Change in unrealized investment gains and losses 721 38 (8) 0 Other(2)(3) (77) (1) 13 (53) Balance at December 31, 2020 $ 9,509 $ 863 $ 368 $ 18,881 __________ (1) Incurred guarantee benefits include the portion of assessments established as additions to reserves as well as changes in estimates affecting the reserves. Also includes changes in the fair value of features considered to be derivatives. (2) Other primarily represents foreign currency translation. (3) Includes the impact from the sale of POK. The GMDB, which includes the liability for no-lapse guarantees, and GMIB liability are established when associated assessments (which include all policy charges including charges for administration, mortality, expense, surrender, and other, regardless of how characterized) are recognized. This liability is established using current best estimate assumptions and is based on the ratio of the present value of total expected excess payments (e.g., payments in excess of account value) over the life of the contract divided by the present value of total expected assessments (i.e., benefit ratio). The liability equals the current benefit ratio multiplied by cumulative assessments recognized to date, plus interest, less cumulative excess payments to date. Similar to as described above for DAC, the reserves are subject to adjustments based on annual reviews of assumptions and quarterly adjustments for experience, including market performance. These adjustments reflect the impact on the benefit ratio of using actual historical experience from the issuance date to the balance sheet date plus updated estimates of future experience. The updated benefit ratio is then applied to all prior periods’ assessments to derive an adjustment to the reserve recognized through a benefit or charge to current period earnings. The GMAB features provide the contractholder with a guaranteed return of initial account value or an enhanced value if applicable. The most significant of the Company’s GMAB features are the guaranteed return option features, which includes an automatic rebalancing element that reduces the Company’s exposure to these guarantees. The GMAB liability is calculated as the present value of future expected payments in excess of the account balance less the present value of future expected rider fees attributable to the embedded derivative feature. The GMWB features provide the contractholder with access to a guaranteed remaining balance if the account value is reduced to zero through a combination of market declines and withdrawals. The guaranteed remaining balance is generally equal to the protected value under the contract, which is initially established as the greater of the account value or cumulative deposits when withdrawals commence, less cumulative withdrawals. The contractholder also has the option, after a specified time period, to reset the guaranteed remaining balance to the then current account value, if greater. The contractholder accesses the guaranteed remaining balance through payments over time, subject to maximum annual limits. The GMWB liability is calculated as the present value of future expected payments to customers less the present value of future expected rider fees attributable to the embedded derivative feature. The GMIWB features, taken collectively, provide a contractholder two optional methods to receive guaranteed minimum payments over time, a “withdrawal” option or an “income” option. The withdrawal option (which was available under only one of the GMIWBs and is no longer offered) guarantees that a contractholder can withdraw an amount each year until the cumulative withdrawals reach a total guaranteed balance. The income option (which varies among the Company’s GMIWBs) in general guarantees the contractholder the ability to withdraw an amount each year for life (or for joint lives, in the case of any spousal version of the benefit) where such amount is equal to a percentage of a protected value under the benefit. The contractholder also has the potential to increase this annual amount, based on certain subsequent increases in account value that may occur. The GMIWB can be elected by the contractholder upon issuance of an appropriate deferred variable annuity contract or at any time following contract issue prior to annuitization. Certain GMIWB features include an automatic rebalancing element that reduces the Company’s exposure to these guarantees. The GMIWB liability is calculated as the present value of future expected payments to customers less the present value of future expected rider fees attributable to the embedded derivative feature. Sales Inducements The Company defers sales inducements and amortizes them over the anticipated life of the policy using the same methodology and assumptions used to amortize DAC. DSI is included in “Other assets.” The Company has offered various types of sales inducements including: (1) a bonus whereby the policyholder’s initial account balance is increased by an amount equal to a specified percentage of the customer’s initial deposit; (2) additional credits after a certain number of years a contract is held; and (3) enhanced interest crediting rates that are higher than the normal general account interest rate credited in certain product lines. Changes in DSI, reported as “Interest credited to policyholders’ account balances,” are as follows: Sales Inducements (in millions) Balance at December 31, 2017 $ 1,168 Capitalization 3 Amortization—Impact of assumption and experience unlocking and true-ups (6) Amortization—All other (166) Change in unrealized investment gains and losses 25 Balance at December 31, 2018 1,024 Capitalization 1 Amortization—Impact of assumption and experience unlocking and true-ups 108 Amortization—All other (163) Change in unrealized investment gains and losses (35) Balance at December 31, 2019 935 Capitalization 1 Amortization—Impact of assumption and experience unlocking and true-ups 104 Amortization—All other (166) Change in unrealized investment gains and losses (54) Balance at December 31, 2020 $ 820

Reinsurance

Reinsurance	12 Months Ended
	Dec. 31, 2020
Reinsurance Disclosures [Abstract]
Reinsurance	REINSURANCE The Company participates in reinsurance with third parties primarily to provide additional capacity for future growth, limit the maximum net loss potential arising from large risks and acquire or dispose of businesses. Effective April 1, 2015, the Company entered into an agreement with Union Hamilton Reinsurance, Ltd. (“Union Hamilton”) an external counterparty, to reinsure approximately 50% of the Prudential Premier® Retirement Variable Annuity with Highest Daily Lifetime Income (“HDI”) v.3.0 business, a guaranteed benefit feature. This reinsurance agreement covered most new HDI v.3.0 variable annuity business issued between April 1, 2015 and December 31, 2016 on a quota share basis, with Union Hamilton’s cumulative quota share amounting to $2.9 billion of new rider premiums as of December 31, 2016. Reinsurance on business subject to this agreement remains in force for the duration of the underlying annuity contracts. New sales subsequent to December 31, 2016 are not covered by this external reinsurance agreement. This reinsurance agreement is accounted for as an embedded derivative. In January 2013, the Company acquired the Hartford Life Business through reinsurance transactions with three subsidiaries of Hartford Financial Services Group, Inc. (“Hartford Financial”). Under the related agreements, the Company provided reinsurance for approximately 700,000 life insurance policies with net retained face amount in force of approximately $141 billion. The Company acquired the general account business through a coinsurance arrangement and, for certain types of general account policies, a modified coinsurance arrangement. The Company acquired the separate account business through a modified coinsurance arrangement. In May 2018, Hartford Financial sold a group of operating subsidiaries, which included two of the Company’s counterparties to these reinsurance arrangements. There was no impact to the terms, rights or obligations of the Company, or operation of these reinsurance arrangements, as a result of this change in control of such counterparties. In January 2021, there was a definitive agreement announced to subsequently sell the two counterparties mentioned above. We anticipate there will be no impact to the terms, rights or obligations of the Company, or operation of these reinsurance arrangements, as a result of this change in control of such counterparties. Since 2011, the Company has entered into several reinsurance agreements to assume pension liabilities in the United Kingdom. Under these arrangements, the Company assumes the longevity risk, and in some arrangements, also the investment risk associated with the pension benefits of certain specified beneficiaries. In 2006, the Company acquired the variable annuity business of The Allstate Corporation (“Allstate”) through a reinsurance transaction. The reinsurance arrangements with Allstate include a coinsurance arrangement associated with the general account liabilities assumed and a modified coinsurance arrangement associated with the separate account liabilities assumed. The reinsurance payable, which represents the Company’s obligation under the modified coinsurance arrangement, is netted with the reinsurance receivable in the Consolidated Statements of Financial Position. In January 2021, Allstate announced a definitive agreement to sell the Company’s counterparty to these reinsurance arrangements. We anticipate there will be no impact to the terms, rights or obligations of the Company, or operation of these reinsurance arrangements, as a result of this change in control of such counterparty. In 2004, the Company acquired the retirement business of CIGNA and subsequently entered into various reinsurance arrangements. The Company still has indemnity coinsurance and modified coinsurance without assumption arrangements in effect related to this acquisition. For the domestic business, life and disability reinsurance is accomplished through various plans of reinsurance, primarily yearly renewable term, per person excess, excess of loss, and coinsurance. On policies sold since 2000, the Company has reinsured a significant portion of the individual life mortality risk. Placement of reinsurance is accomplished primarily on an automatic basis with some specific risks reinsured on a facultative basis. The Company is authorized and has historically retained up to $30 million per life, but reduced its operating retention limit to $20 million per life in 2013. Retention in excess of the operating limit is on an exception basis. The international business primarily uses reinsurance to obtain experience with respect to certain new product offerings and to a lesser extent, to mitigate mortality risk for certain protection products and for capital management purposes. Reinsurance amounts included in the Consolidated Statements of Operations for premiums, policy charges and fee income, and policyholders’ benefits for the years ended December 31, are as follows: 2020 2019 2018 (in millions) Direct premiums $ 29,091 $ 33,260 $ 35,048 Reinsurance assumed 4,336 3,022 2,574 Reinsurance ceded (2,287) (2,080) (1,843) Premiums $ 31,140 $ 34,202 $ 35,779 Direct policy charges and fee income $ 5,341 $ 5,252 $ 5,245 Reinsurance assumed 1,192 1,181 1,189 Reinsurance ceded (504) (455) (432) Policy charges and fee income $ 6,029 $ 5,978 $ 6,002 Direct policyholders’ benefits $ 32,514 $ 35,601 $ 38,079 Reinsurance assumed 5,659 4,304 3,659 Reinsurance ceded (3,114) (3,085) (2,334) Policyholders’ benefits $ 35,059 $ 36,820 $ 39,404 Reinsurance recoverables at December 31, are as follows: 2020 2019 (in millions) Individual and group annuities(1) $ 273 $ 688 Life insurance(2) 6,649 5,535 Other reinsurance 432 403 Total reinsurance recoverables(3) $ 7,354 $ 6,626 __________ (1) Primarily represents reinsurance recoverables established under the reinsurance arrangements associated with the acquisition of the retirement business of CIGNA. The Company has recorded reinsurance recoverables related to the acquisition of the retirement business of CIGNA of $27 million and $553 million at December 31, 2020 and 2019, respectively. Also included is $204 million and $95 million of reinsurance recoverables at December 31, 2020 and 2019, respectively, established under the reinsurance agreement with Union Hamilton related to the ceding of certain embedded derivative liabilities associated with the Company’s guaranteed benefits. (2) Includes $2,245 million and $2,105 million of reinsurance recoverables established at December 31, 2020 and 2019, respectively, under the reinsurance arrangements associated with the acquisition of the Hartford Life Business. The Company has also recorded reinsurance payables related to the Hartford Life Business acquisition of $1,362 million and $1,290 million at December 31, 2020 and 2019, respectively. (3) Net of $(5) million of loss allowance at December 31, 2020. Excluding the reinsurance recoverable associated with the acquisition of the Hartford Life Business and the retirement business of CIGNA, four major reinsurance companies account for approximately 59% of the reinsurance recoverable at December 31, 2020. The Company periodically reviews the financial condition of its reinsurers, amounts recoverable therefrom, and unearned reinsurance premium, in order to reduce its exposure to loss from reinsurer insolvencies. Any expected credit losses are reflected in the CECL allowance, after considering any collateral the Company obtained in the form of a trust, letter of credit, or funds withheld arrangement. See Note 2 for additional details regarding CECL. Under the Company’s longevity reinsurance transactions, the Company obtains collateral from its counterparties to mitigate counterparty default risk.

Closed Block

Closed Block	12 Months Ended
	Dec. 31, 2020
Closed Block Disclosure [Abstract]
Closed Block	CLOSED BLOCK On December 18, 2001, the date of demutualization, PICA established a closed block for certain in-force participating insurance policies and annuity products, along with corresponding assets used for the payment of benefits and policyholders’ dividends on these products, (collectively the “Closed Block”), and ceased offering these participating products. The recorded assets and liabilities were allocated to the Closed Block at their historical carrying amounts. The Closed Block forms the principal component of the Closed Block division. See Note 22 for financial information on the Closed Block. The insurance policies and annuity contracts comprising the Closed Block are managed in accordance with the Plan of Reorganization approved by the New Jersey Department of Banking and Insurance (“NJDOBI”) on December 18, 2001, and PICA is directly obligated for the insurance policies and annuity contracts in the Closed Block. The policies included in the Closed Block are specified individual life insurance policies and individual annuity contracts that were in force on the date of demutualization and for which PICA is currently paying or expects to pay experience-based policy dividends. Assets have been allocated to the Closed Block in an amount that has been determined to produce cash flows which, together with revenues from policies included in the Closed Block, are expected to be sufficient to support obligations and liabilities relating to these policies, including provision for payment of benefits, certain expenses and taxes and to provide for continuation of the policyholder dividend scales in effect in 2000, assuming experience underlying such scales continues. To the extent that, over time, cash flows from the assets allocated to the Closed Block and claims and other experience related to the Closed Block are, in the aggregate, more or less favorable than what was assumed when the Closed Block was established, total dividends paid to Closed Block policyholders may be greater than or less than the total dividends that would have been paid to these policyholders if the policyholder dividend scales in effect in 2000 had been continued. Any cash flows in excess of amounts assumed will be available for distribution over time to Closed Block policyholders and will not be available to shareholders. If the Closed Block has insufficient funds to make guaranteed policy benefit payments, such payments will be made from PICA’s assets outside of the Closed Block. The Closed Block will continue in effect as long as any policy in the Closed Block remains in force unless, with the consent of the New Jersey insurance regulator, it is terminated earlier. The excess of Closed Block liabilities over Closed Block assets at the date of the demutualization (adjusted to eliminate the impact of related amounts in AOCI) represented the estimated maximum future earnings at that date from the Closed Block expected to result from operations attributed to the Closed Block after income taxes. In establishing the Closed Block, the Company developed an actuarial calculation of the timing of such maximum future earnings. If actual cumulative earnings of the Closed Block from inception through the end of any given period are greater than the expected cumulative earnings, only the expected earnings will be recognized in income. Any excess of actual cumulative earnings over expected cumulative earnings will represent undistributed accumulated earnings attributable to policyholders, which are recorded as a policyholder dividend obligation. The policyholder dividend obligation represents amounts to be paid to Closed Block policyholders as an additional policyholder dividend unless otherwise offset by future Closed Block performance that is less favorable than originally expected. If the actual cumulative earnings of the Closed Block from its inception through the end of any given period are less than the expected cumulative earnings of the Closed Block, the Company will recognize only the actual earnings in income. As of December 31, 2020 and 2019, the Company recognized a policyholder dividend obligation of $2,920 million and $2,816 million, respectively, to Closed Block policyholders for the excess of actual cumulative earnings over the expected cumulative earnings. Additionally, accumulated net unrealized investment gains that have arisen subsequent to the establishment of the Closed Block have been reflected as a policyholder dividend obligation of $5,867 million and $3,332 million at December 31, 2020 and 2019, respectively, to be paid to Closed Block policyholders unless offset by future experience, with a corresponding amount reported in AOCI. On December 7, 2018, PICA’s Board of Directors approved a continuation of the dividends payable on Closed Block policies for 2019. On December 6, 2019, PICA’s Board of Directors acted to decrease the dividends payable on Closed Block policies for 2020. On December 4, 2020, PICA’s Board of Directors acted to decrease the dividends payable on Closed Block policies for 2021. These actions resulted in decreases of approximately $86 million, $79 million and $147 million for the years ended December 31, 2018, 2019 and 2020, respectively, in the liability for policyholders’ dividends recognized. Closed Block liabilities and assets designated to the Closed Block at December 31, as well as maximum future earnings to be recognized from these liabilities and assets, are as follows: 2020 2019 (in millions) Closed Block liabilities Future policy benefits $ 46,762 $ 47,613 Policyholders’ dividends payable 635 717 Policyholders’ dividend obligation 8,787 6,149 Policyholders’ account balances 4,874 4,973 Other Closed Block liabilities 3,141 4,049 Total Closed Block liabilities 64,199 63,501 Closed Block assets Fixed maturities, available-for-sale, at fair value 41,959 41,146 Fixed maturities, trading, at fair value 277 256 Equity securities, at fair value 2,345 2,245 Commercial mortgage and other loans 8,421 8,629 Policy loans 4,064 4,264 Other invested assets 3,610 3,333 Short-term investments 124 227 Total investments 60,800 60,100 Cash and cash equivalents 269 191 Accrued investment income 431 456 Other Closed Block assets 92 93 Total Closed Block assets 61,592 60,840 Excess of reported Closed Block liabilities over Closed Block assets 2,607 2,661 Portion of above representing accumulated other comprehensive income (loss): Net unrealized investment gains (losses) 5,810 3,280 Allocated to policyholder dividend obligation (5,867) (3,332) Future earnings to be recognized from Closed Block assets and Closed Block liabilities $ 2,550 $ 2,609 Information regarding the policyholder dividend obligation is as follows: 2020 2019 (in millions) Balance, January 1 $ 6,149 $ 3,150 Cumulative effect adjustment from the adoption of ASU 2016-13(1) (13) 0 Impact from earnings allocable to policyholder dividend obligation 117 564 Change in net unrealized investment gains (losses) allocated to policyholder dividend obligation 2,534 2,435 Balance, December 31 $ 8,787 $ 6,149 __________ (1) See Note 2 for more information. Closed Block revenues and benefits and expenses for the years ended December 31, are as follows: 2020 2019 2018 (in millions) Revenues Premiums $ 1,981 $ 2,207 $ 2,301 Net investment income 2,255 2,332 2,298 Realized investment gains (losses), net 182 521 130 Other income (loss) 362 589 (39) Total Closed Block revenues 4,780 5,649 4,690 Benefits and Expenses Policyholders’ benefits 2,758 2,906 2,972 Interest credited to policyholders’ account balances 127 130 132 Dividends to policyholders 1,549 2,187 1,236 General and administrative expenses 327 351 364 Total Closed Block benefits and expenses 4,761 5,574 4,704 Closed Block revenues, net of Closed Block benefits and expenses, before income taxes 19 75 (14) Income tax expense (benefit) (43) 10 (78) Closed Block revenues, net of Closed Block benefits and expenses and income taxes $ 62 $ 65 $ 64

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES The following schedule discloses significant components of income tax expense (benefit) for each year presented: Year Ended December 31, 2020 2019 2018 (in millions) Current tax expense (benefit): U.S. $ (571) $ 86 $ (346) State and local 11 2 7 Foreign 848 879 681 Total current tax expense (benefit) 288 967 342 Deferred tax expense (benefit): U.S. (362) 57 80 State and local 1 (1) 1 Foreign (8) (76) 399 Total deferred tax expense (benefit) (369) (20) 480 Total income tax expense (benefit) on income (loss) before equity in earnings of operating joint ventures (81) 947 822 Income tax expense (benefit) on equity in earnings of operating joint ventures 47 43 31 Income tax expense (benefit) on discontinued operations 0 0 0 Income tax expense (benefit) reported in equity related to: Other comprehensive income (loss) 1,252 3,811 (1,812) Stock-based compensation programs 0 0 0 Total income taxes $ 1,218 $ 4,801 $ (959) Reconciliation of Expected Tax at Statutory Rates to Reported Income Tax Expense (Benefit) The differences between income taxes expected at the U.S. federal statutory income tax rate of 21% applicable for 2020, 2019 and 2018, and the reported income tax expense (benefit) are summarized as follows: Year Ended December 31, 2020 2019(1) 2018(1) (in millions) Expected federal income tax expense (benefit) $ (68) $ 1,068 $ 1,015 Non-taxable investment income (228) (270) (250) Foreign taxes at other than U.S. rate 252 234 347 Low-income housing and other tax credits (112) (118) (112) Changes in tax law (194) (2) (321) Sale of subsidiary 277 4 10 Non-controlling interest (48) (11) 0 Non-deductible expenses 14 23 33 Change in valuation allowance 17 (1) (6) State taxes 10 1 6 Other (1) 19 100 Reported income tax expense (benefit) $ (81) $ 947 $ 822 Effective tax rate 25.1 % 18.6 % 17.0 % __________ (1) Prior period amounts have been updated to conform to current period presentation. The effective tax rate is the ratio of “Total income tax expense (benefit)” divided by “Income before income taxes and equity in earnings of operating joint ventures.” The Company’s effective tax rate for fiscal years 2020, 2019 and 2018 was 25.1%, 18.6% and 17.0%, respectively. The following is a description of items that had the most significant impact on the difference between the Company’s statutory U.S. federal income tax rate of 21% applicable for 2020, 2019 and 2018, and the Company’s effective tax rate during the periods presented: Non-Taxable Investment Income . The U.S. Dividends Received Deduction (“DRD”) reduces the amount of dividend income subject to U.S. tax and accounts for most of the non-taxable investment income shown in the table above. More specifically, the U.S. DRD constitutes $109 million of the total $228 million of 2020 non-taxable investment income, $122 million of the total $270 million of 2019 non-taxable investment income, and $127 million of the total $250 million of 2018 non-taxable investment income. The DRD for the current period was estimated using information from 2019, current year investment results, and current year’s equity market performance. The actual current year DRD can vary based on factors such as, but not limited to, changes in the amount of dividends received that are eligible for the DRD, changes in the amount of distributions received from fund investments, changes in the account balances of variable life and annuity contracts, and the Company’s taxable income before the DRD. Foreign Taxes at Other Than U.S. Rates . The statutory income tax rate in the Company’s largest non-U.S. tax jurisdiction is approximately 28% in Japan as compared to the U.S. federal income tax rate of 21% applicable for 2020, 2019 and 2018. The 952 Election. The Company made a tax election, effective for the 2017 and later tax years, to subject earnings from its insurance operations in Brazil to tax in the U.S. in the tax year earned, net of related foreign tax credits. This election has the effect of reducing the rate at which the Company will incur taxes on these earnings from the approximately 40% tax rate in Brazil to the 21% tax rate in the U.S., which in turn will reduce the amount of associated income tax expense in 2018 and thereafter. In conjunction with this election, the Company remeasured its related deferred tax assets from the previous 45% rate in Brazil to the new rate of 21% in the U.S., which resulted in additional income tax expense at the time of election. The net effect of the lower tax rate and the remeasurement of the deferred tax assets was a net increase (decrease) in income tax expense of $34 million in 2018, $(3) million in 2019 and $24 million in 2020. In October 2019, the IRS issued a legal memorandum, applicable to all taxpayers, in which the IRS argues that the election became inoperable in 1998. The Company disagrees with the IRS’s position and intends to defend its position. If the Company is ultimately not successful, it will not be able to claim a U.S. tax credit for the Brazil taxes in excess of the U.S. tax rate, and thus will have a higher tax expense over time. Low-Income Housing and Other Tax Credits . These amounts include incentives within the U.S. tax code for the development of affordable housing aiming at low-income Americans. The Company routinely makes such investments that generate a tax credit which reduces the Company’s effective tax rate. Changes in Tax Law . The following is a list of notable changes in tax law that impacted the Company’s effective tax rate for the periods presented: Tax Act of 2017. On December 22, 2017, the Tax Act of 2017 was enacted into U.S. law. During 2018, the Company completed the collection, preparation and analysis of data relevant to the Tax Act of 2017, and interpreted any additional guidance issued by the IRS, U.S. Department of the Treasury, or other standard-setting organizations, and recognized a $153 million reduction in income tax expense primarily related to refinements of our provisional estimates of earnings of affiliated foreign companies subject to the one-time toll charge. 2018 Industry Issue Resolution (IIR). In August 2018, the IRS released a Directive to provide guidance on the tax reserving for guaranteed benefits within variable annuity contracts and principle-based reserves on certain life insurance contracts. Adopting the methodology specified in the Directive resulted in an accelerated deduction for the Company’s 2017 tax return that would have otherwise been deductible in future years. Prior to the adoption of this Directive, the Company accounted for these future deductions as deferred tax assets measured using the current 21% corporate income tax rate. Upon adoption of the Directive, the tax benefits were revalued using the 35% tax rate applicable for the 2017 tax year and resulted in a reduction in income tax expense of $198 million in 2018. The CARES Act. On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) was enacted into law. One provision of the CARES Act amends the Tax Act of 2017 and allows companies with net operating losses (“NOLs”) originating in 2020, 2019 or 2018 to carry back those losses for up to five years. For 2020, the Company has recorded an income tax benefit of $149 million and $51 million from carrying the estimated 2020 NOL and 2018 NOL back to tax years that have a 35% tax rate. Sale of Subsidiary. This line item is primarily related to a lower tax basis than our GAAP basis for subsidiaries sold. See Note 1 for additional information on the sale of subsidiary-related items. Other . This line item represents insignificant reconciling items that are individually less than 5% of the computed expected federal income tax expense (benefit) and have therefore been aggregated for purposes of this reconciliation in accordance with relevant disclosure guidance. GILTI High Tax Exclusion . On July 20, 2020, the U.S. Treasury and the Internal Revenue Service issued Final Regulations which will allow an annual election to exclude from the U.S. tax return certain GILTI amounts when the taxes paid by a foreign affiliate exceed 18.9% (90% of U.S. statutory rate of 21%) of the GILTI amount for that foreign affiliate (the “high-tax exception”). These regulations are effective for the 2021 taxable year with an election to apply to any taxable year beginning after 2017. In many of the countries in which we operate, including Japan, there are differences between local tax rules used to determine the tax base and the U.S. tax principles used to determine GILTI. Also, our Japan affiliates have a different tax year than the U.S. calendar tax year used to determine GILTI. Therefore, while many of the countries, including Japan, have a statutory tax rate above the 18.9% threshold, separate affiliates may not meet the 18.9% threshold each year and, as such, may not qualify for this exclusion. The Company plans to make the high-tax exception election for the 2020 tax year and recorded lower 2020 GILTI cost included in “Total income tax expense” for 2020. Additionally, the Company plans to make an election for 2018 by filing an amended tax return and recorded an estimated tax benefit of $4 million in “Total income tax expense” for 2020. The Treasury Department and the IRS also issued Proposed Regulations on July 20, 2020 which would require that, if a high-tax exception election is made with respect to GILTI in any year, an election having the same effect must also be made with regard to income taxed under Subpart F of the Tax Code. Such an election under Subpart F of the Tax Code would apply to the Full Inclusion election made by the Company for its insurance operations in Brazil, thereby increasing the tax rate applied to our Brazil insurance operations. The Proposed Regulations will be effective for taxable years beginning after they are issued in final form. Schedule of Deferred Tax Assets and Deferred Tax Liabilities As of December 31, 2020 2019 (in millions) Deferred tax assets: Insurance reserves $ 1,926 $ 730 Policyholders’ dividends 1,901 1,365 Net operating and capital loss carryforwards 205 189 Employee benefits 929 973 Other 206 113 Deferred tax assets before valuation allowance 5,167 3,370 Valuation allowance (143) (136) Deferred tax assets after valuation allowance 5,024 3,234 Deferred tax liabilities: Net unrealized investment gains 13,841 11,109 Deferred policy acquisition costs 3,518 3,799 Investments 19 138 Value of business acquired 270 262 Deferred tax liabilities 17,648 15,308 Net deferred tax liability $ (12,624) $ (12,074) The application of U.S. GAAP requires the Company to evaluate the recoverability of deferred tax assets and establish a valuation allowance if necessary to reduce the deferred tax asset to an amount that is more likely than not expected to be realized. Considerable judgment is required in determining whether a valuation allowance is necessary, and if so, the amount of such valuation allowance. In evaluating the need for a valuation allowance, the Company considers many factors, including: (1) the nature of the deferred tax assets and liabilities; (2) whether they are ordinary or capital; (3) in which tax jurisdictions they were generated and the timing of their reversal; (4) taxable income in prior carryback years as well as projected taxable earnings exclusive of reversing temporary differences and carryforwards; (5) the length of time that carryovers can be utilized in the various taxing jurisdictions; (6) any unique tax rules that would impact the utilization of the deferred tax assets; and (7) any tax planning strategies that the Company would employ to avoid a tax benefit from expiring unused. Although realization is not assured, management believes it is more likely than not that the deferred tax assets, net of valuation allowances, will be realized. A valuation allowance has been recorded against deferred tax assets related to federal, state and local taxes and foreign operations. Adjustments to the valuation allowance are made to reflect changes in management’s assessment of the amount of the deferred tax asset that is realizable and the amount of deferred tax asset actually realized during the year. The valuation allowance includes amounts recorded in connection with deferred tax assets as follows: Federal State Foreign Operations Total (in millions) Balance at January 1, 2018 $ 0 $ 196 $ 18 $ 214 Charged to costs and expenses 0 24 (6) 18 Other adjustments 0 (114) (1) (115) Balance at December 31, 2018 0 106 11 117 Charged to costs and expenses 3 34 (5) 32 Other adjustments 0 (13) 0 (13) Balance at December 31, 2019 3 127 6 136 Charged to costs and expenses 12 5 5 22 Other adjustments 0 (16) 1 (15) Balance at December 31, 2020 $ 15 $ 116 $ 12 $ 143 The following table sets forth the amount and expiration dates of federal, state and foreign operating, capital loss and tax credit carryforwards for tax purposes, as of the periods indicated: As of December 31, 2020 2019 (in millions) Federal net operating and capital loss carryforwards(1) $ 231 $ 33 State net operating and capital loss carryforwards(2) $ 1,880 $ 2,005 Foreign net operating and capital loss carryforwards(3) $ 136 $ 203 Federal foreign tax credit carryforwards(4) $ 9 $ 4 General business credits(5) $ 82 $ 0 __________ (1) Expires in 2025. (2) Expires between 2021 and 2040. (3) $2 million expires between 2021 and 2035 and $54 million has an unlimited carryforward. (4) Expires in 2030. These relate to foreign non-general basket tax credits. (5) Expires in 2040. Consistent with the Tax Act of 2017, the Company provides applicable U.S. income tax for all unremitted earnings of the Company’s foreign affiliates. For certain foreign affiliates organized in withholding tax jurisdictions, the Company considers the unremitted foreign earnings of those affiliates to be indefinitely reinvested, and therefore does not provide for the withholding tax when calculating its current and deferred tax obligations. For certain other foreign affiliates organized in withholding tax jurisdictions, the Company does not consider unremitted earnings indefinitely reinvested, and therefore provides for foreign withholding tax when calculating its current and deferred tax obligations. The following table summarizes the Company’s indefinite reinvestment assertions for jurisdictions in which the Company operates that impose a withholding tax on dividends or may be subject to other foreign country tax upon a remittance: Unremitted earnings are indefinitely reinvested Unremitted earnings are not indefinitely reinvested Insurance operations in Chile and China and non-insurance operations in Korea and certain operations in Luxembourg Insurance operations in Argentina, India, Indonesia, Ghana and Taiwan, and non-insurance operations in China, India, Italy and Taiwan During the first and second quarters of 2018, respectively, the Company determined that the earnings of its Polish and Italian insurance operations would be repatriated to the United States; accordingly, these earnings were not considered indefinitely reinvested, and the Company recognized an income tax expense of $10 million in “Income (loss) before equity in earnings of operating joint ventures” during 2018. During the first and fourth quarters of 2018, the Company determined that a portion of the earnings of its Korean insurance operation would be repatriated to the United States; accordingly, a portion of these earnings were not considered indefinitely reinvested, and the Company recognized an income tax expense of $14 million in “Income (loss) before equity in earnings of operating joint ventures” during 2018. The Company made no changes with respect to its repatriation assumptions in 2019. During the second and third quarters of 2020, respectively, the Company determined that the earnings of its Korean and Taiwan insurance operations would be repatriated to the United States; accordingly, these earnings were not considered indefinitely reinvested, and the Company recognized an income tax expense of $132 million in “Income (loss) before equity in earnings of operating joint ventures” during 2020. During the second quarter of 2020, the Company changed the permanent investment assertion for Europrisa Management Company S.A (Luxembourg) due to a plan to liquidate the company, which gave rise to an immaterial amount of income tax expense during 2020. The following table sets forth the undistributed earnings of foreign subsidiaries, where the Company assumes indefinite reinvestment of such earnings and for which, in 2020, 2019, and 2018, U.S. deferred taxes have not been provided, and for which foreign deferred withholding taxes have not been provided. The net tax liability that may arise if the 2020 earnings were remitted which includes any foreign exchange impacts, is immaterial. At December 31, 2020 2019 2018 (in millions) Undistributed earnings of foreign subsidiaries (assuming indefinite reinvestment for U.S. tax purposes)(1) N/A N/A N/A Undistributed earnings of foreign subsidiaries (assuming indefinite reinvestment only for Withholding or other non-U.S. Taxes) $ 176 $ 2,764 $ 2,475 __________ (1) Consistent with the Tax Act of 2017, the Company provides U.S. income tax for all unremitted earnings of the Company’s foreign affiliates as of December 31, 2017. The Company’s “Income (loss) before income taxes and equity in earnings of operating joint ventures” includes income (loss) from domestic operations of $(3,226) million, $1,985 million and $1,447 million, and income (loss) from foreign operations of $2,903 million, $3,101 million and $3,387 million for the years ended December 31, 2020, 2019 and 2018, respectively. Tax Audit and Unrecognized Tax Benefits The Company’s liability for income taxes includes the liability for unrecognized tax benefits and interest that relate to tax years still subject to review by the IRS or other taxing authorities. The completion of review or the expiration of the Federal statute of limitations for a given audit period could result in an adjustment to the liability for income taxes. The following table reconciles the total amount of unrecognized tax benefits at the beginning and end of the periods indicated: 2020 2019 2018 (in millions) Balance at January 1, $ 18 $ 20 $ 45 Increases in unrecognized tax benefits—prior years 0 0 20 (Decreases) in unrecognized tax benefits—prior years (1) (2) 0 Increases in unrecognized tax benefits—current year 0 0 0 (Decreases) in unrecognized tax benefits—current year 0 0 0 Settlements with taxing authorities 0 0 (45) Balance at December 31, $ 17 $ 18 $ 20 Unrecognized tax benefits that, if recognized, would favorably impact the effective rate $ 0 $ 0 $ 0 The Company does not anticipate any significant changes within the next twelve months to its total unrecognized tax benefits related to tax years for which the statute of limitations has not expired. The Company classifies all interest and penalties related to tax uncertainties as income tax expense (benefit). The amounts recognized in the consolidated financial statements for tax-related interest and penalties for the years ended December 31 are as follows: 2020 2019 2018 (in millions) Interest and penalties recognized in the Consolidated Statements of Operations $ 1 $ 1 $ 1 2020 2019 (in millions) Interest and penalties recognized in liabilities in the Consolidated Statements of Financial Position $ 3 $ 2 Listed below are the tax years that remain subject to examination, by major tax jurisdiction, as of December 31, 2020: Major Tax Jurisdiction Open Tax Years United States 2014-2020 Japan Fiscal years ended March 31, 2016-2020 Korea 2015-2020 The Company participates in the IRS’s Compliance Assurance Program. Under this program, the IRS assigns an examination team to review completed transactions as they occur in order to reach agreement with the Company on how they should be reported in the relevant tax returns. If disagreements arise, accelerated resolutions programs are available to resolve the disagreements in a timely manner. Some of the Company’s affiliates in Japan file a consolidated tax return, while others file separate tax returns. The Company’s affiliates in Japan are subject to audits by the local taxing authority. The general statute of limitations is five years from when the return is filed. The Japanese National Tax Service conducted tax audits of some non-insurance companies during the reporting period, which had no material impact on the Company’s 2020, 2019 or 2018 results. The Company’s affiliates in South Korea file separate tax returns and are subject to audits by the local taxing authority. The general statute of limitations is five years from when the return is filed. During 2020, the Korean tax authority substantially completed a routine tax audit of Prudential of Korea for 2017, 2016, and 2015 tax years. These activities are expected to have no material impact on the Company’s 2020, 2019 or 2018 results.

Short-Term and Long-Term Debt

Short-Term and Long-Term Debt	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Short-Term and Long-Term Debt	SHORT-TERM AND LONG-TERM DEBT Short-term Debt The table below presents the Company’s short-term debt at December 31, for the years indicated as follows: 2020 2019 ($ in millions) Commercial paper: Prudential Financial $ 25 $ 25 Prudential Funding, LLC 355 524 Subtotal commercial paper 380 549 Current portion of long-term debt: Senior Notes 399 1,179 Mortgage Debt 128 192 Surplus Notes subject to set-off arrangements (1) 500 0 Subtotal Current portion of long-term debt 1,027 1,371 Other(2) 18 13 Subtotal 1,425 1,933 Less: Assets under set-off arrangements (1) 500 0 Total short-term debt(3) $ 925 $ 1,933 Supplemental short-term debt information: Portion of commercial paper borrowings due overnight $ 75 $ 224 Daily average commercial paper outstanding for the quarter ended $ 1,602 $ 1,702 Weighted average maturity of outstanding commercial paper, in days 18 6 Weighted average interest rate on outstanding commercial paper 0.11 % 1.61 % __________ (1) The surplus notes have corresponding assets where rights to set-off exist, thereby reducing the amount of surplus notes. (2) Includes $18 million drawn on a revolving line of credit held by a subsidiary at December 31, 2020. (3) Includes Prudential Financial debt of $424 million and $1,204 million at December 31, 2020 and 2019, respectively. At December 31, 2020 and 2019, the Company was in compliance with all covenants related to the above debt. Commercial Paper Prudential Financial has a commercial paper program with an authorized capacity of $3.0 billion. Prudential Financial’s commercial paper borrowings have generally been used to fund the working capital needs of Prudential Financial’s subsidiaries and provide short-term liquidity at Prudential Financial. Prudential Funding, LLC (“Prudential Funding”), a wholly-owned subsidiary of PICA, has a commercial paper program, with an authorized capacity of $7.0 billion. Prudential Funding commercial paper borrowings generally have served as an additional source of financing to meet the working capital needs of PICA and its subsidiaries. Prudential Funding also lends to other subsidiaries of Prudential Financial up to limits agreed with the NJDOBI. Prudential Funding maintains a support agreement with PICA whereby PICA has agreed to maintain Prudential Funding’s tangible net worth at a positive level. Additionally, Prudential Financial has issued a subordinated guarantee covering Prudential Funding’s $7.0 billion commercial paper program. Federal Home Loan Bank of New York PICA is a member of the FHLBNY. Membership allows PICA access to the FHLBNY’s financial services, including the ability to obtain collateralized loans and to issue collateralized funding agreements. Under applicable law, the funding agreements issued to the FHLBNY have priority claim status above debt holders of PICA. FHLBNY borrowings and funding agreements are collateralized by qualifying mortgage-related assets or U.S. Treasury securities, the fair value of which must be maintained at certain specified levels relative to outstanding borrowings. FHLBNY membership requires PICA to own member stock and borrowings require the purchase of activity-based stock in an amount equal to 4.5% of outstanding borrowings. Under FHLBNY guidelines, if any of PICA’s financial strength ratings decline below A-/A3/A- Negative by S&P/Moody’s/Fitch, respectively, and the FHLBNY does not receive written assurances from the NJDOBI regarding PICA’s solvency, new borrowings from the FHLBNY would be limited to a term of 90 days or less. Currently there are no restrictions on the term of borrowings from the FHLBNY. All FHLBNY stock purchased by PICA is classified as restricted general account investments within “Other invested assets,” and the carrying value of these investments was $147.4 million and $30.2 million as of December 31, 2020 and 2019, respectively. NJDOBI permits PICA to pledge collateral to the FHLBNY in an amount of up to 5% of its prior year-end statutory net admitted assets, excluding separate account assets. Based on PICA’s statutory net admitted assets as of December 31, 2019, the 5% limitation equates to a maximum amount of eligible assets of $7.3 billion and an estimated maximum borrowing capacity (after taking into account required collateralization levels) of approximately $6.6 billion. Nevertheless, FHLBNY borrowings are subject to the FHLBNY’s discretion and to the availability of qualifying assets at PICA. In the first quarter of 2020, PICA issued $3.6 billion in funding agreements under the FHLBNY facility. As of December 31, 2020, $2.5 billion of funding agreements remain outstanding under this facility with maturities ranging from January 2021 to February 2027 and rates from 0.620% to 1.925%. These funding agreements are reflected as “Policyholders’ account balances” on the Consolidated Statements of Financial Position and as such are not included in the foregoing table. Federal Home Loan Bank of Boston Prudential Retirement Insurance and Annuity Company (“PRIAC”) is a member of the Federal Home Loan Bank of Boston (“FHLBB”). Membership allows PRIAC access to collateralized advances which will be classified in “Short-term debt” or “Long-term debt,” depending on the maturity date of the obligation. PRIAC’s membership in FHLBB requires the ownership of member stock and borrowings from FHLBB require the purchase of activity-based stock in an amount between 3.0% and 4.5% of outstanding borrowings, depending on the maturity date of the obligation. All FHLBB stock purchased by PRIAC is classified as restricted general account investments within “Other invested assets,” and the carrying value of these investments was $6 million and $6 million as of December 31, 2020 and 2019, respectively. As of December 31, 2020, PRIAC had no advances outstanding under the FHLBB facility. Under Connecticut state insurance law, without the prior consent of the Connecticut Insurance Department, the amount of assets insurers may pledge to secure debt obligations is limited to the lesser of 5% of prior-year statutory admitted assets or 25% of prior-year statutory surplus, resulting in a maximum borrowing capacity for PRIAC under the FHLBB facility of approximately $265 million as of December 31, 2020. Credit Facilities As of December 31, 2020, the Company maintained syndicated, unsecured committed credit facilities as described below. Borrower Original Expiration Capacity Amount Outstanding (in millions) Prudential Financial and Prudential Funding 5 years Jul 2022 $ 4,000 $ 0 Prudential Holdings of Japan, Inc. 5 years Sep 2024 ¥ 100,000 ¥ 0 The $4.0 billion five The ¥100 billion five Borrowings under each of these credit facilities may be used for general corporate purposes. As of December 31, 2020, the Company was in compliance with the covenants under each of these credit facilities. In addition to the above credit facilities, the Company had access to $219 million of certain other lines of credit at December 31, 2020, of which $175 million was for the sole use of certain real estate separate accounts. The separate account facilities include loan-to-value ratio requirements and other financial covenants, and recourse on obligations under these facilities is limited to the assets of the applicable separate account. At December 31, 2020, $31 million of these credit facilities were used. The Company also has access to uncommitted lines of credit from financial institutions. Agreements for Senior Notes Issuance In November 2013, Prudential Financial entered into a ten The put option described above will be exercised automatically in full upon the Company’s failure to make certain payments to the trust, such as paying the put option premium or reimbursing the trust for its expenses, if the Company’s failure to pay is not cured within 30 days, and upon an event involving its bankruptcy. The Company is also required to exercise the put option if its consolidated stockholders’ equity, calculated in accordance with U.S. GAAP but excluding AOCI, falls below $7.0 billion, subject to adjustment in certain cases. The Company has a one-time right to unwind a prior voluntary exercise of the put option by repurchasing all of the senior notes then held by the trust in exchange for a corresponding amount of U.S. Treasury securities. Finally, Prudential Financial may redeem all but not less than all outstanding senior notes prior to their maturity at a redemption price equal to the greater of par or a make-whole price, following a voluntary exercise in full of the put option. In May 2020, Prudential Financial entered into a ten-year facility agreement with a Delaware trust upon the completion of the sale of $1.5 billion of trust securities by that Delaware trust in a Rule 144A private placement. The trust invested the proceeds from the sale of the trust securities in a portfolio of principal and/or interest strips of U.S. Treasury securities. The facility agreement provides Prudential Financial the right to issue and sell to the trust from time to time up to $1.5 billion of 2.850% senior notes due May 15, 2030 and receive in exchange a corresponding amount of the U.S. Treasury securities held by the trust. In return, the Company agreed to pay a semi-annual facility fee to the trust at a rate of 2.175% per annum applied to the maximum amount of senior notes that the Company could issue and sell to the trust. Similar to the Company’s put option agreement, the facility agreement with the trust provides Prudential Financial with a source of liquid assets. The right to issue senior notes described above will be exercised automatically in full upon the Company’s failure to make certain payments to the trust, such as paying the facility fee or reimbursing the trust for its expenses, if the Company’s failure to pay is not cured within 30 days, and upon an event involving its bankruptcy. The Company is also required to exercise this issuance right if its consolidated stockholders’ equity, calculated in accordance with U.S. GAAP but excluding AOCI, falls below $9.0 billion, subject to adjustment in certain cases . Prior to any involuntary exercise of the issuance right, the Company has the right to repurchase any of its senior notes then held by the trust in exchange for a corresponding amount of U.S. Treasury securities. Finally, Prudential Financial may redeem any outstanding senior notes, in whole or in part, prior to February 15, 2030, at a redemption price equal to the greater of par or a make-whole price, or thereafter, at par. Long-term Debt The table below presents the Company’s long-term debt at December 31, for the years indicated as follows: Maturity Rate(1) December 31, 2020 2019 ($ in millions) Fixed-rate notes: Surplus notes 2025 8.3% $ 343 $ 342 Surplus notes subject to set-off arrangements 2022-2038 2.23%-5.26% 8,134 7,484 Senior notes 2023-2051 1.5%-6.75% 11,179 10,084 Mortgage debt(2) 2027 3.85% 24 104 Floating-rate notes: Line of Credit 2023 1.41%-3.10% 300 300 Surplus notes subject to set-off arrangements 2024-2037 1.61%-3.5% 2,330 2,265 Mortgage debt(3) 2022-2024 1.43%-3.88% 257 241 Junior subordinated notes(4) 2042-2060 1.55%-5.88% 7,615 7,575 Subtotal 30,182 28,395 Less: assets under set-off arrangements(5) 10,464 9,749 Total long-term debt(6) $ 19,718 $ 18,646 __________ (1) Ranges of interest rates are for the year ended December 31, 2020. (2) Includes $0 and $43 million of debt denominated in foreign currency at December 31, 2020 and 2019, respectively. (3) Includes $29 million and $53 million of debt denominated in foreign currency at December 31, 2020 and 2019, respectively. (4) Includes Prudential Financial debt of $7,554 million and subsidiary debt of $60 million denominated in foreign currency at December 31, 2020. (5) Assets under set-off arrangements represent a reduction in the amount of surplus notes included in long-term debt, resulting from an arrangement where valid rights of set-off exist and it is the intent of both parties to settle on a net basis under legally enforceable arrangements. These assets include available-for-sale securities that are reported at fair value. (6) Includes Prudential Financial debt of $18,561 million and $17,430 million at December 31, 2020 and 2019, respectively. At December 31, 2020 and 2019, the Company was in compliance with all debt covenants related to the borrowings in the table above. The following table presents the contractual maturities of the Company’s long-term debt as of December 31, 2020: Calendar Year 2022 2023 2024 2025 2026 and Total (in millions) Long-term debt $ 136 $ 572 $ 724 $ 348 $ 17,938 $ 19,718 Senior Notes Under its shelf registration statement the Company maintains a Medium-Term Notes Program and an InterNotes ® Retail Notes Program which have authorized issuance capacities of $20.0 billion and $5.0 billion, respectively. The table below presents the Company’s senior notes and mortgage debt balances as of December 31, 2020 for the years indicated as follows: Facility Name Maturity Date Range 2020 Amount Outstanding 2019 Amount Outstanding ($ in millions) Medium-Term Notes(1) 2021-2051 $ 9,847 $ 9,508 Senior Notes 2047-2049 1,462 1,455 InterNotes ® Retail Notes 2029-2045 270 302 Mortgage Debt(2) 2021-2027 409 537 Total $ 11,988 $ 11,802 __________ (1) Includes $400 million of notes from current portion of long-term debt. (2) Includes $128 million of notes from current portion of long-term debt. Medium-Term Notes Program. The outstanding balance of this program increased by $0.3 billion from December 31, 2019. The increase was due to the issuance of $0.5 billion of medium-term notes with an interest rate of 1.5% maturing in March 2026, $0.5 billion of notes with an interest rate of 2.1% maturing in 2030, and $0.5 billion of notes with an interest rate of 3.0% maturing in 2040, offset by $1.2 billion of maturities in June and November 2020. As of December 31, 2020, $0.4 billion of the outstanding balance of this program is included in current portion of long-term debt. The weighted average interest rate on outstanding senior notes issued under the Medium-Term Notes and InterNotes ® Retail Notes Programs , including the effect of interest rate hedging activity, was 4.45% and 4.85% for the years ended December 31, 2020 and 2019, respectively, excluding the effect of debt issued to consolidated subsidiaries. Mortgage Debt . Mortgage debt decreased by $128 million from December 31, 2019, primarily due to $200 million of prepayment activity, offset by new borrowings in 2020 of $71 million and foreign exchange fluctuations of $2 million. As of December 31, 2020, the Company’s subsidiaries had long-term mortgage debt of $409 million that has recourse only to real estate property held for investment by those subsidiaries, of which $128 million is included in current portion of long-term debt. Funding Agreement Notes Issuance Program (“FANIP”). The Company maintains a FANIP in which statutory trusts issue medium-term notes and commercial paper secured by funding agreements issued to the trusts by PICA. These obligations are included in “Policyholders’ account balances” and not included in the foregoing table. See Note 12 for further discussion of these obligations. Surplus Notes As of December 31, 2020, PICA had $343 million of fixed-rate surplus notes outstanding. These notes are subordinated to other PICA borrowings and policyholder obligations, and the payment of interest and principal may only be made with the prior approval of the NJDOBI. The NJDOBI could prohibit the payment of the interest and principal on the surplus notes if certain statutory capital requirements are not met. At December 31, 2020 and 2019, the Company met these statutory capital requirements. Surplus Notes with Set-Off Arrangements Agreement Start Date Maturity Years Maximum Borrowing Capacity 2020 Amount Outstanding 2019 Amount Outstanding ($ in millions) Regulation XXX 2011-2014(1)(2) 2021-2024 $ 1,750 $ 1,750 $ 1,750 2014-2017 2024-2037 2,400 2,330 2,265 2018 2038 1,600 1,070 920 Guideline AXXX 2013(3) 2033 3,500 3,248 3,248 2017 2037 2,000 1,466 1,466 2020 2032 1,200 700 0 Other Notes 2015-2019 2029 4,000 400 100 Total $ 16,450 $ 10,964 $ 9,749 __________ (1) Prudential has agreed to reimburse one of the external counterparties for any payment under the credit linked notes funded by it in an amount of up to $0.5 billion. (2) Includes $0.5 billion of notes from current portion of long-term debt. (3) The current financing capacity available under the facility is $3.5 billion but can be increased to a maximum potential size of $4.5 billion. Surplus Notes Supporting Regulation XXX and Guideline AXXX Reserves As shown in the table above, the Company’s captive reinsurance subsidiaries maintain facilities with external counterparties providing for the issuance of surplus notes by the captive to finance reserves required under Regulation XXX and Guideline AXXX. Under these facilities, the captives receive in exchange for the surplus notes one or more credit-linked notes issued by special-purpose affiliates in aggregate principal amounts equal to the surplus notes issued. The captives hold the credit-linked notes as assets supporting the non-economic portion of the statutory reserves required to be held by the Company’s domestic insurance subsidiaries under Regulation XXX and Guideline AXXX in connection with the reinsurance of term life or universal life insurance policies through the captive. The non-economic portion of the statutory reserve equals the difference between the statutory reserve required under Regulation XXX and Guideline AXXX and the amount the Company considers necessary to maintain solvency for moderately adverse experience. The credit-linked notes are redeemable for cash upon the occurrence of a liquidity stress event affecting the captives and external counterparties have agreed to fund these payments in return for a fee. Under certain of these different transactions, Prudential Financial has agreed to reimburse the captive for investment losses in excess of specified amounts. For each of the above transactions, because valid rights of set-off exist, interest and principal payments on the surplus notes and on the related credit-linked notes are settled on a net basis, and the surplus notes are reflected in the Company’s total consolidated borrowings on a net basis. The surplus notes for the captive reinsurance subsidiaries described above are subordinated to policyholder obligations, and for certain applicable surplus notes, the repayment of principal may only be made with prior approval of the Arizona Department of Insurance and Financial Institutions, the domiciliary insurance regulator of the captives. The payment of interest on the surplus notes has been approved by the Arizona Department of Insurance and Financial Institutions, subject to its ability to withdraw that approval. Other Surplus Notes The surplus note facility listed under “Other Notes” in the table above reflects a financing facility that Prudential Legacy Insurance Company of New Jersey (“PLIC”) has entered into with certain external counterparties and a special-purpose affiliate, pursuant to which PLIC may, at its option, issue and sell to the affiliate up to $4.0 billion in aggregate principal amount of surplus notes, in return for an equal principal amount of credit-linked notes. The credit-linked notes are redeemable for cash upon the occurrence of a liquidity stress event affecting PLIC, and external counterparties have agreed to fund these payments in return for a fee. Upon issuance, PLIC would hold any credit-linked notes as assets to support future statutory surplus needs within PLIC. Junior Subordinated Notes Prudential Financial’s junior subordinated notes outstanding are considered hybrid securities that receive enhanced equity treatment from the rating agencies. These notes outstanding, along with their key terms, are as follows: Issue Date Principal Initial Investor Optional Interest Rate ($ in millions) Aug-12 $ 1,000 5.88 % Institutional 9/15/2022 LIBOR + 4.18% 9/15/2042 Nov-12 $ 1,500 5.63 % Institutional 6/15/2023 LIBOR + 3.92% 6/15/2043 Mar-13 $ 500 5.20 % Institutional 3/15/2024 LIBOR + 3.04% 3/15/2044 May-15 $ 1,000 5.38 % Institutional 5/15/2025 LIBOR + 3.03% 3/15/2045 Sep-17 $ 750 4.50 % Institutional 9/15/2027 LIBOR + 2.38% 9/15/2047 Aug-18 $ 565 5.63 % Retail 8/15/2023 5.63% 8/13/2058 Sep-18 $ 1,000 5.70 % Institutional 9/15/2028 LIBOR + 2.67% 9/15/2048 Aug-20 $ 500 4.13 % Retail 9/1/2025 4.13% 9/1/2060 Aug-20 $ 800 3.70 % Institutional 10/1/2030 US Treasury + 3.04% 10/1/2050 The Company has the right to defer interest payments on these notes for specified periods, typically 5 to 10 years without resulting in a default, during which time interest will be compounded. On or after the optional redemption dates, Prudential Financial may redeem the notes at par plus accrued and unpaid interest. Prior to those optional redemption dates, redemptions generally are subject to a make-whole price; however, the Company may redeem the notes prior to these dates at par upon the occurrence of certain events, such as a future change in the regulatory capital treatment of the notes with respect to the Company. Limited Recourse Notes In 2014, the Company entered into financing transactions pursuant to which it issued $500 million of limited recourse notes and, in return, obtained $500 million of asset-backed notes issued by a designated series of a Delaware master trust. The asset-backed notes mature from 2021 through 2027; however, the maturity date of a portion of the notes may be extended by the Company through 2028, subject to conditions. The master trust’s payment obligations under each of the asset-backed notes are secured by corresponding payment obligations of a third-party financial institution and a portfolio of specified assets that have an aggregate value at least equal to the principal amount of the applicable asset-backed note. The principal amount of each asset-backed note is payable to PRIAC in cash at any time upon demand by PRIAC or, if not repaid earlier, at maturity. Each of the limited recourse notes obligates Prudential Financial to reimburse the applicable third-party financial institution for any principal payments received on the corresponding asset-backed note, but there is no obligation to reimburse any portion of a principal payment that is needed by PRIAC to pay then current claims to its policyholders. Each limited recourse note bears interest at a rate equal to the rate on the corresponding asset-backed note, plus an amount representing fees payable to the applicable third-party financial institution. As of December 31, 2020, no principal payments have been received or are currently due on the asset-backed notes and, as a result, there was no payment obligation under the limited recourse notes. Accordingly, the notes are not reflected in the Consolidated Financial Statements as of December 31, 2020. Interest Expense In order to modify exposure to interest rate and currency exchange rate movements, the Company utilizes derivative instruments, primarily interest rate swaps, in conjunction with some of its debt issues. The impact of these derivative instruments is not reflected in the rates presented in the tables above. For those derivative instruments that qualify for hedge accounting treatment, interest expense was $2 million, less than $1 million, and $1 million for the years ended December 31, 2020, 2019 and 2018, respectively. See Note 5 for additional information on the Company’s use of derivative instruments.

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Dec. 31, 2020
Retirement Benefits [Abstract]
Employee Benefit Plans	EMPLOYEE BENEFIT PLANS Pension and Other Postretirement Plans The Company has funded and non-funded non-contributory defined benefit pension plans (“Pension Benefits”), which cover substantially all of its employees. For some employees, benefits are based on final average earnings and length of service (the “traditional formula”), while benefits for other employees are based on an account balance that takes into consideration age, length of service and earnings during their career (the “cash balance formula”). At December 31, 2020, approximately 77% of the Company’s Pension Benefits relate to its domestic qualified pension plan, which initially determined benefits based on the traditional formula. Effective January 1, 2001, active domestic employees covered under this plan were given the option to convert from the traditional formula to the cash balance formula, and all new domestic employees began accruing benefits under the cash balance formula. As of December 31, 2020, approximately 68% and 32% of the benefit obligation under this plan relates to participants under the traditional formula and cash balance formula, respectively. At December 31, 2020, the vast majority of active employees under this plan are accruing benefits under the cash balance formula. The Company provides certain health care and life insurance benefits for its retired employees, their beneficiaries and covered dependents (“Other Postretirement Benefits”). The health care plan is contributory; the life insurance plan is non-contributory. Substantially all of the Company’s U.S. employees may become eligible to receive other postretirement benefits if they retire after age 55 with at least 10 years of service or under certain circumstances after age 50 with at least 20 years of continuous service. Prepaid benefits costs and accrued benefit liabilities are included in “Other assets” and “Other liabilities,” respectively, in the Company’s Consolidated Statements of Financial Position. The status of these plans as of December 31, 2020 and 2019 is summarized below: Pension Benefits Other Postretirement Benefits 2020 2019 2020 2019 (in millions) Change in benefit obligation Benefit obligation at the beginning of period $ (14,637) $ (13,185) $ (1,993) $ (1,876) Service cost (321) (291) (24) (22) Interest cost (429) (489) (64) (78) Plan participants’ contributions 0 0 (22) (21) Medicare Part D subsidy receipts 0 0 (7) (7) Amendments 0 0 0 (27) Curtailments 16 0 0 0 Actuarial gains (losses), net(1) (978) (1,499) (101) (124) Settlements 43 45 0 0 Special termination benefits (7) (26) 0 (1) Benefits paid 878 831 171 165 Acquisition/Divestiture 46 0 0 0 Foreign currency changes and other (94) (23) 0 (2) Benefit obligation at end of period $ (15,483) $ (14,637) $ (2,040) $ (1,993) Change in plan assets Plan assets at beginning of period $ 13,906 $ 12,807 $ 1,557 $ 1,432 Actual return on plan assets 1,740 1,681 171 264 Employer contributions 200 280 10 5 Plan participants’ contributions 0 0 22 21 Disbursement for settlements (43) (45) 0 0 Benefits paid (878) (831) (171) (165) Acquisition/Divestiture (51) 0 0 0 Foreign currency changes and other 23 14 0 0 Plan assets at end of period $ 14,897 $ 13,906 $ 1,589 $ 1,557 Funded status at end of period $ (586) $ (731) $ (451) $ (436) Amounts recognized in the Statements of Financial Position Prepaid benefit cost $ 2,426 $ 2,204 $ 0 $ 0 Accrued benefit liability (3,012) (2,935) (451) (436) Net amount recognized $ (586) $ (731) $ (451) $ (436) Items recorded in “Accumulated other comprehensive income (loss)” not yet recognized as a component of net periodic (benefit) cost: Prior service cost $ (10) $ (12) $ 59 $ 65 Net actuarial loss 3,972 4,191 354 341 Net amount not recognized $ 3,962 $ 4,179 $ 413 $ 406 Accumulated benefit obligation $ (14,690) $ (13,934) $ (2,040) $ (1,993) __________ (1) For 2020 and 2019, actuarial losses for pension and other postretirement benefits were primarily driven by a decrease in the discount rate. In addition to the plan assets above, the Company in 2007 established an irrevocable trust, commonly referred to as a “rabbi trust,” for the purpose of holding assets of the Company to be used to satisfy its obligations with respect to certain non-qualified retirement plans ($1,360 million and $1,301 million benefit obligation at December 31, 2020 and 2019, respectively). Assets held in the rabbi trust are available to the general creditors of the Company in the event of insolvency or bankruptcy. The Company may from time to time in its discretion make contributions to the trust to fund accrued benefits payable to participants in one or more of the plans, and, in the case of a change in control of the Company, as defined in the trust agreement, the Company will be required to make contributions to the trust to fund the accrued benefits, vested and unvested, payable on a pre-tax basis to participants in the plans. The Company did not make any discretionary payments to the trust in 2020 and 2019. As of December 31, 2020 and 2019, the assets in the trust had a carrying value of $1,044 million and $986 million, respectively. The Company also maintains a separate rabbi trust for the purpose of holding assets of the Company to be used to satisfy its obligations with respect to certain other non-qualified retirement plans ($77 million and $76 million benefit obligation at December 31, 2020 and 2019, respectively), as well as certain cash-based deferred compensation arrangements. As of December 31, 2020 and 2019, the assets in the trust had a carrying value of $111 million and $106 million, respectively. Pension benefits for foreign plans comprised 13% and 14% of the ending benefit obligation for both 2020 and 2019, respectively. Foreign pension plans comprised 4% and 5% of the ending fair value of plan assets for both 2020 and 2019, respectively. There are no material foreign postretirement plans. Information for pension plans with a projected benefit obligation in excess of plan assets 2020 2019 (in millions) Projected benefit obligation $ 3,012 $ 2,997 Fair value of plan assets $ 0 $ 62 Information for pension plans with an accumulated benefit obligation in excess of plan assets 2020 2019 (in millions) Accumulated benefit obligation $ 2,834 $ 2,760 Fair value of plan assets $ 0 $ 7 Components of Net Periodic Benefit Cost The Company uses market related value to determine components of net periodic (benefit) cost. Market related value recognizes certain changes in fair value of plan assets over a period of five years. Changes in the fair value of U.S. equities, international equities, real estate and other assets are recognized over a five year period. However, changes in the fair value for fixed maturity assets (including short-term investments) are recognized immediately for the purposes of market related value. Net periodic (benefit) cost included in “General and administrative expenses” in the Company’s Consolidated Statements of Operations for the years ended December 31, includes the following components: Pension Benefits Other Postretirement 2020 2019 2018 2020 2019 2018 (in millions) Service cost $ 321 $ 291 $ 314 $ 24 $ 22 $ 23 Interest cost 429 489 448 64 78 70 Expected return on plan assets (804) (816) (817) (100) (95) (108) Amortization of prior service cost (4) (4) (4) 6 4 1 Amortization of actuarial (gain) loss, net 262 217 213 16 24 17 Settlements 9 59 8 0 0 0 Special termination benefits(1)(2)(3) 7 26 1 0 1 0 Net periodic (benefit) cost $ 220 $ 262 $ 163 $ 10 $ 34 $ 3 __________ (1) For 2020, 2019 and 2018, certain employees were provided special termination benefits under non-qualified plans in the form of unreduced early retirement benefits as a result of their involuntary termination. (2) For 2020, certain employees were provided special termination benefits under non-qualified plans in the form of unreduced early retirement benefits as a result of their participation in the Voluntary Separation Program that was offered to eligible U.S.-based employees in 2019. (3) For 2019, certain employees were provided special termination benefits in the qualified and non-qualified plans in the form of retirement eligibility bridging as a result of their participation in the Voluntary Separation Program that was offered to eligible U.S.-based employees. Changes in Accumulated Other Comprehensive Income (Loss) The benefit obligation is based upon actuarial assumptions such as discount, termination, retirement, mortality and salary growth rates. Changes at year-end in these actuarial assumptions, along with experience changes based on updated participant census data are deferred in AOCI. Plan assets generate actuarial gains and losses when actual returns on plan assets differ from expected returns on plan assets, and these differences are also deferred in AOCI. The cumulative deferred gain (loss) within AOCI is amortized into earnings if it exceeds 10% of the greater of the benefit obligation or plan assets at the beginning of the year, and the amortization period is based upon the actuarially calculated expected future years of service for a given plan. The amounts recorded in AOCI as of the end of the period, which have not yet been recognized as a component of net periodic (benefit) cost, and the related changes in these items during the period that are recognized in “Other comprehensive income (loss)” are as follows: Pension Benefits Other Postretirement Prior Net Prior Net (in millions) Balance, December 31, 2017 $ (22) $ 3,611 $ 10 $ 344 Amortization for the period 4 (213) (1) (17) Deferrals for the period(1) 3 430 32 82 Impact of foreign currency changes and other 0 1 0 (1) Balance, December 31, 2018 (15) 3,829 41 408 Amortization for the period 4 (217) (4) (24) Deferrals for the period(2) 0 634 27 (45) Impact of foreign currency changes and other (1) (55) 1 2 Balance, December 31, 2019 (12) 4,191 65 341 Amortization for the period 4 (262) (6) (16) Deferrals for the period(3) 0 42 0 30 Impact of foreign currency changes and other (2) 1 0 (1) Balance, December 31, 2020 $ (10) $ 3,972 $ 59 $ 354 __________ (1) For 2018, deferred losses for pension and other postretirement benefits were driven by unfavorable asset performance partially offset by an increase in discount rate. (2) For 2019, deferred losses for pension were driven by a decrease in discount rate partially offset by favorable asset performance. Deferred gains for other postretirement benefits were driven by favorable asset performance partially offset by a decrease in discount rate. (3) For 2020, deferred losses for pension and other postretirement benefits were driven by a decrease in discount rate partially offset by favorable asset performance. The Company’s assumptions related to the calculation of the domestic benefit obligation (end of period) and the determination of net periodic (benefit) cost (beginning of period) are presented in the table below: Pension Benefits Other Postretirement Benefits 2020 2019 2018 2020 2019 2018 Weighted average assumptions Discount rate (beginning of period) 3.30 % 4.30 % 3.65 % 3.25 % 4.30 % 3.60 % Discount rate (end of period) 2.55 % 3.30 % 4.30 % 2.40 % 3.25 % 4.30 % Rate of increase in compensation levels (beginning of period) 4.50 % 4.50 % 4.50 % N/A N/A N/A Rate of increase in compensation levels (end of period) 4.50 % 4.50 % 4.50 % N/A N/A N/A Expected return on plan assets (beginning of period) 6.00 % 6.50 % 6.25 % 6.75 % 7.00 % 7.00 % Interest crediting rate (beginning of period) 4.30 % 4.30 % 4.30 % N/A N/A N/A Interest crediting rate (end of period) 4.25 % 4.30 % 4.30 % N/A N/A N/A Health care cost trend rates (beginning of period) N/A N/A N/A 6.25 % 6.00 % 6.20 % Health care cost trend rates (end of period) N/A N/A N/A 6.25 % 6.25 % 6.00 % For 2020, 2019 and 2018, the ultimate health care cost trend rate after gradual decrease until: 2028, 2024, 2024, (beginning of period) N/A N/A N/A 5.00 % 5.00 % 5.00 % For 2020, 2019 and 2018, the ultimate health care cost trend rate after gradual decrease until: 2028, 2028, 2024 (end of period) N/A N/A N/A 4.50 % 5.00 % 5.00 % The domestic discount rate used to value the pension and postretirement obligations at December 31, 2020 and December 31, 2019 is based upon the value of a portfolio of Aa-rated investments whose cash flows would be available to pay the benefit obligation’s cash flows when due. The December 31, 2020 portfolio is selected from a compilation of approximately 440 Aa-rated bonds across the full range of maturities. Since yields can vary widely at each maturity point, the Company generally avoids using the highest and lowest yielding bonds at the maturity points, so as to avoid relying on bonds that might be mispriced or misrated. This refinement process generally results in having a distribution from the 10th to 90th percentile. The Aa-rated portfolio is then selected and, accordingly, its value is a measure of the benefit obligation. A single equivalent discount rate is calculated to equate the value of the Aa-rated portfolio to the cash flows for the benefit obligation. The result is rounded to the nearest 5 basis points and the benefit obligation is recalculated using the rounded discount rate. The pension and postretirement expected long-term rates of return on plan assets for 2020 were determined based upon an approach that considered the allocation of plan assets as of December 31, 2019. Expected returns are estimated by asset class as noted in the discussion of investment policies and strategies below. Expected returns on asset classes are developed using a building-block approach that is forward looking and are not strictly based upon historical returns. The building blocks for equity returns include inflation, real return, a term premium, an equity risk premium, capital appreciation, expenses, the effect of active management and the effect of rebalancing. The building blocks for fixed maturity returns include inflation, real return, a term premium, credit spread, capital appreciation, effect of active management, expenses and the effect of rebalancing. The Company applied the same approach to the determination of the expected rate of return on plan assets in 2021. The expected rate of return for 2021 is 5.75% and 6.75% for pension and postretirement, respectively. The assumptions for foreign pension plans are based on local markets. There are no material foreign postretirement plans. Plan Assets The investment goal of the domestic pension plan assets is to generate an above benchmark return on a diversified portfolio of stocks, bonds and other investments. The cash requirements of the pension obligation, which include a traditional formula principally representing payments to annuitants and a cash balance formula that allows lump sum payments and annuity payments, are designed to be met by the bonds and short-term investments in the portfolio. The investment goal of the domestic postretirement plan assets is to generate an above benchmark return on a diversified portfolio of stocks, bonds, and other investments, while meeting the cash requirements for the postretirement obligation that includes a medical benefit including prescription drugs, a dental benefit and a life benefit. The pension and postretirement plans risk management practices include guidelines for asset concentration, credit rating, liquidity and tax efficiency. The pension and postretirement plans do not invest in leveraged derivatives. Derivatives such as futures contracts are used to reduce transaction costs and change asset concentration, while interest rate swaps and futures are used to adjust duration. The plan fiduciaries for the Company’s pension and postretirement plans have developed guidelines for asset allocations reflecting a percentage of total assets by asset class, which are reviewed on an annual basis. Asset allocation targets as of December 31, 2020 are as follows: Pension Postretirement Minimum Maximum Minimum Maximum Asset Category U.S. Equities 2 % 8 % 31 % 70 % International Equities 2 % 9 % 2 % 22 % Fixed Maturities 54 % 67 % 10 % 45 % Short-term Investments 0 % 12 % 0 % 31 % Real Estate 2 % 16 % 0 % 0 % Other 4 % 27 % 0 % 0 % To implement the investment strategy, plan assets are invested in funds that primarily invest in securities that correspond to one of the asset categories under the investment guidelines. However, at any point in time, some of the assets in a fund may be of a different nature than the specified asset category. Assets held with PICA are in either pooled separate accounts or single client separate accounts. Assets held with a bank are either in common/collective trusts or single client trusts. Pooled separate accounts and common/collective trusts hold assets for multiple investors. Each investor owns a “unit of account.” The asset allocation targets above include the underlying asset mix in the Pooled Separate Accounts and Common/Collective Trusts. Single client separate accounts or trusts hold assets for only one investor, the domestic qualified pension plan, and each security in the fund is treated as individually owned. There were no investments in Prudential Financial Common Stock as of December 31, 2020 and December 31, 2019 for either the pension or postretirement plans. The authoritative guidance around fair value established a framework for measuring fair value. Fair value is disclosed using a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value, as described in Note 6. The following describes the valuation methodologies used for pension and postretirement plans assets measured at fair value. Insurance Company Pooled Separate Accounts, Common or Collective Trusts, and United Kingdom Insurance Pooled Funds —Insurance company pooled separate accounts are invested via group annuity contracts issued by PICA. Assets are represented by a “unit of account.” The redemption value of those units is based on a per unit value whose value is the result of the accumulated values of underlying investments. The unit of account value is used as a practical expedient to estimate fair value. Equities —See Note 6 for a discussion of the valuation methodologies for equity securities. U.S. Government Securities (both Federal and State & Other), Non–U.S. Government Securities , and Corporate Debt —See Note 6 for a discussion of the valuation methodologies for fixed maturity securities. Interest Rate Swaps —See Note 6 for a discussion of the valuation methodologies for derivative instruments. Registered Investment Companies (Mutual Funds) —Securities are priced at the NAV, which is the closing price published by the registered investment company on the reporting date. Unrealized Gain (Loss) on Investment of Securities Lending Collateral —This value is the contractual position relative to the investment of securities lending collateral. Short-term Investments —Securities are valued initially at cost and thereafter adjusted for amortization of any discount or premium (i.e., amortized cost). Amortized cost approximates fair value. Partnerships —The value of interests owned in partnerships is based on valuations of the underlying investments that include private placements, structured debt, real estate, equities, fixed maturities, commodities and other investments. Hedge Funds —The value of interests in hedge funds is based on the underlying investments that include equities, debt and other investments. Variable Life Insurance Policies —These assets are held in group and individual variable life insurance policies issued by PICA. Group policies are invested in Insurance Company Pooled Separate Accounts. Individual policies are invested in Registered Investment Companies (Mutual Funds). The value of interest in these policies is the cash surrender value (contract value) of the policies based on the underlying investments. The variable life insurance policies are valued at contract value which approximates fair value. Pension plan asset allocations in accordance with the investment guidelines are as follows: As of December 31, 2020 As of December 31, 2019 (5) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total (in millions) Fixed Maturities: U.S. government securities (federal): Mortgage-backed $ 0 $ 1 $ 0 $ 1 $ 0 $ 1 $ 0 $ 1 Other U.S. government securities 0 985 0 985 0 783 0 783 U.S. government securities (state & other) 0 588 0 588 0 562 0 562 Non-U.S. government securities 0 103 0 103 0 93 0 93 Corporate Debt: Corporate bonds 0 4,290 0 4,290 0 4,281 0 4,281 Asset-backed 0 25 0 25 0 22 0 22 Collateralized Mortgage Obligations 0 614 0 614 0 485 0 485 Collateralized Loan Obligations 0 441 0 441 0 397 0 397 Interest rate swaps (1) 0 0 0 0 0 2 0 2 Registered investment companies 96 0 0 96 7 0 0 7 Other (2) 33 2 35 70 37 (2) 44 79 Unrealized gain (loss) on investment of securities lending collateral (3) 0 0 0 0 0 0 0 0 Subtotal fixed maturities 129 7,049 35 7,213 44 6,624 44 6,712 Real Estate: Partnerships 0 0 838 838 0 0 688 688 Other: Partnerships 0 0 1,234 1,234 0 0 973 973 Hedge funds 0 0 1,327 1,327 0 0 1,312 1,312 Subtotal other 0 0 2,561 2,561 0 0 2,285 2,285 Net assets in the fair value hierarchy $ 129 $ 7,049 $ 3,434 $ 10,612 $ 44 $ 6,624 $ 3,017 $ 9,685 Investments Measured at Net Asset Value, as a practical expedient (4) Pooled separate accounts $ 2,659 $ 2,869 Common/collective trusts 1,440 1,185 United Kingdom insurance pooled funds 186 167 Net assets at fair value $ 14,897 $ 13,906 _______________ (1) Interest rate swaps notional amount is $13 million and $2,462 million for the years ended December 31, 2020 and 2019, respectively. (2) This category primarily consists of cash and cash equivalents, short-term investments, payables and receivables, and open future contract positions (including fixed income collateral). (3) The contractual net value of the investment of securities lending collateral invested primarily in short-term bond funds is $586 million and $135 million and the liability for securities lending collateral is $586 million and $135 million for the years ended December 31, 2020 and 2019, respectively. (4) The pension plan excludes from the fair value hierarchy investments that are measured at NAV per share (or its equivalent) as a practical expedient to estimate fair value. (5) Prior period amounts have been updated to conform to the current year presentation. Changes in Fair Value of Level 3 Pension Assets Fixed Maturities Real Estate(1) Other(1) Corporate Bonds Partnerships Partnerships Hedge Fund (in millions) Fair Value, January 1, 2019 $ 2 $ 62 $ 482 $ 830 $ 1,463 Actual Return on Assets: Relating to assets still held at the reporting date 0 0 41 68 15 Relating to assets sold during the period 0 0 0 0 0 Purchases, sales and settlements 0 (18) 165 75 (166) Transfers in and/or out of Level 3 (2) (2) 0 0 0 0 Fair Value, December 31, 2019 $ 0 $ 44 $ 688 $ 973 $ 1,312 Actual Return on Assets: Relating to assets still held at the reporting date 0 0 11 161 116 Relating to assets sold during the period 0 0 0 0 0 Purchases, sales and settlements 0 (9) 139 100 (101) Transfers in and/or out of Level 3 0 0 0 0 0 Fair Value, December 31, 2020 $ 0 $ 35 $ 838 $ 1,234 $ 1,327 __________ (1) Prior period amounts have been updated to conform to the current year presentation (2) The transfers from level 3 to level 2 are due to the availability of external pricing sources. Postretirement plan asset allocations in accordance with the investment guidelines are as follows: As of December 31, 2020 As of December 31, 2019 (3) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total (in millions) Equities: U.S. Equities $ 0 $ 14 $ 0 $ 14 $ 0 $ 14 $ 0 $ 14 International Equities 0 9 0 9 0 8 0 8 Subtotal equities 0 23 0 23 0 22 0 22 Fixed Maturities: U.S. government securities (federal): Other U.S. government securities 0 9 0 9 0 20 0 20 Non-U.S. government securities 0 1 0 1 0 2 0 2 Corporate Debt: Corporate bonds 0 7 0 7 0 53 0 53 Asset-backed 0 2 0 2 0 16 0 16 Collateralized Mortgage Obligations 0 3 0 3 0 10 0 10 Collateralized Loan Obligations 0 4 0 4 0 15 0 15 Registered investment companies 19 0 0 19 4 0 0 4 Equities 0 22 0 22 0 20 0 20 Other (1) 0 0 0 0 0 0 1 1 Subtotal fixed maturities 19 48 0 67 4 136 1 141 Short-term Investments: Registered investment companies 165 0 0 165 163 0 0 163 Net assets in the fair value hierarchy $ 184 $ 71 $ 0 $ 255 $ 167 $ 158 $ 1 $ 326 Investments Measured at Net Asset Value, as a practical expedient (2) Common trusts $ 279 $ 273 Net assets at fair value 534 599 Variable Life Insurance Policies at contract value 1,055 958 Total net assets $ 1,589 $ 1,557 __________ (1) This category primarily consists of cash and cash equivalents, short-term investments, payables and receivables and open future contract positions (including fixed income collateral). (2) The postretirement plan excludes from the fair value hierarchy investments that are measured at NAV per share (or its equivalent) as a practical expedient to estimate fair value. (3) Prior period amounts have been updated to conform to the current year presentation. Changes in Fair Value of Level 3 Postretirement Assets Fixed Maturities Collateralized Mortgage Obligations (in millions) Fair Value, January 1, 2019 $ 1 $ 1 $ 3 Actual Return on Assets: Relating to assets still held at the reporting date 0 0 0 Relating to assets sold during the period 0 0 0 Purchases, sales and settlements 0 (1) (2) Transfers in and/or out of Level 3 (1) (1) 0 0 Fair Value, December 31, 2019 $ 0 $ 0 $ 1 Actual Return on Assets: Relating to assets still held at the reporting date 0 0 0 Relating to assets sold during the period 0 0 0 Purchases, sales and settlements 0 0 (1) Transfers in and/or out of Level 3 0 0 0 Fair Value, December 31, 2020 $ 0 $ 0 $ 0 __________ (1) The transfers from level 3 to level 2 are due to the availability of external pricing sources. The expected benefit payments for the Company’s pension and postretirement plans, as well as the expected Medicare Part D subsidy receipts related to the Company’s postretirement plan, for the years indicated are as follows: Pension Benefit Other Other (in millions) 2021 $ 802 $ 148 $ 7 2022 824 149 7 2023 862 148 6 2024 866 148 6 2025 897 145 6 2026-2030 4,646 669 28 Total $ 8,897 $ 1,407 $ 60 The Company anticipates that it will make cash contributions in 2021 of approximately $185 million to the pension plans and approximately $10 million to the postretirement plans. Postemployment Benefits The Company accrues postemployment benefits for income continuance and health and life benefits provided to former or inactive employees who are not retirees. The net accumulated liability for these benefits at December 31, 2020 and 2019 was $15 million and $1 million, respectively, and is included in “Other liabilities.” Other Employee Benefits

Equity

Equity	12 Months Ended
	Dec. 31, 2020
Stockholders' Equity Note [Abstract]
Equity	EQUITY Preferred Stock As of December 31, 2020, 2019 and 2018, the Company had 10,000,000 shares of preferred stock authorized but none issued or outstanding. Common Stock On the date of demutualization in December 2001, Prudential Financial completed an initial public offering of its Common Stock. The shares of Common Stock issued were in addition to shares of Common Stock the Company distributed to policyholders as part of the demutualization. The Common Stock is traded on the New York Stock Exchange under the symbol “PRU”. In the event of a liquidation, dissolution or winding-up of the Company, holders of Common Stock would be entitled to receive a proportionate share of the net assets of the Company that remain after paying all liabilities and the liquidation preferences of any preferred stock. The changes in the number of shares of Common Stock issued, held in treasury and outstanding, are as follows for the periods indicated: Common Stock Issued Held In Outstanding (in millions) Balance, December 31, 2017 660.1 237.5 422.6 Common Stock issued 0.0 0.0 0.0 Common Stock acquired 0.0 14.9 (14.9) Stock-based compensation programs(1) 0.0 (3.0) 3.0 Balance, December 31, 2018 660.1 249.4 410.7 Common Stock issued(2)(3) 6.2 (5.5) 11.7 Common Stock acquired 0.0 27.2 (27.2) Stock-based compensation programs(1) 0.0 (3.6) 3.6 Balance, December 31, 2019 666.3 267.5 398.8 Common Stock issued 0.0 0.0 0.0 Common Stock acquired 0.0 6.7 (6.7) Stock-based compensation programs(1) 0.0 (4.3) 4.3 Balance, December 31, 2020 666.3 269.9 396.4 __________ (1) Represents net shares issued from treasury pursuant to the Company’s stock-based compensation programs. (2) In August 2019, as a result of the note holders’ exercise of the exchange option on $500 million of surplus notes, the Company issued approximately 6.2 million shares of Common Stock at an exchange rate equal to 12.3877 shares of Common Stock per each $1,000 principal amount of surplus notes. The Company’s obligations under the surplus notes are now satisfied. For additional information, see Note 20. (3) In October 2019, the Company issued approximately 5.5 million shares of restricted Common Stock as part of consideration paid for the Assurance IQ acquisition. For additional information about the acquisition, see Note 1. Additional paid-in capital Additional paid-in capital is primarily comprised of the cumulative excess between: (a) the total cash received by the Company in conjunction with past issuances of Common Stock shares or Common Stock shares reissued from treasury in conjunction with the Company’s stock-based compensation program and (b) the total par value associated with those shares ($.01 per share). Common stock held in treasury Common Stock held in treasury represents the Company’s previously issued shares of stock which have been repurchased by the Company but not retired. These shares are accounted for at the cost at which they were acquired. Common Stock held in treasury is typically impacted by repurchases of shares under the Board of Directors approved share repurchase program and by reissuances of shares associated with our stock-based compensation programs, or for other purposes, which are accounted for at average cost upon reissuance. 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. The Board of Directors may from time to time, at its discretion, authorize management to repurchase shares of Common Stock of the Company. The timing and amount of share repurchases are determined by management based upon market conditions and other considerations, and repurchases may be executed in the open market, through derivative, accelerated repurchase and other negotiated transactions and through prearranged trading plans complying with Rule 10b5-1(c) under the Securities Exchange Act of 1934 (the “Exchange Act”). Numerous factors could affect the timing and amount of any future repurchases under the share repurchase authorization, including increased capital needs of the Company due to changes in regulatory capital requirements, opportunities for growth and acquisitions, and the effect of adverse market conditions on the segments. The following table summarizes share repurchases for each of the past three years as well as the share repurchase authorization for 2021, which was approved by the Board of Directors in February 2021: January 1, 2021 - January 1, 2020 - January 1, 2019 - January 1, 2018 - Total Board authorized share repurchase amount ($ in billions) $ 1.5 $ 2.0 $ 2.5 $ 1.5 Total number of shares repurchased under this authorization as of the period end (in millions) N/A* 6.7 27.2 14.9 __________ * Share repurchase authorization for a future period. (1) In April 2020, the Company suspended Common Stock repurchases under the 2020 share repurchase authorization and did not resume share repurchases for the remainder of the authorization period. Accumulated Other Comprehensive Income (Loss) AOCI represents the cumulative OCI items that are reported separate from net income and detailed on the Consolidated Statements of Comprehensive Income. Each of the components that comprise OCI are described in further detail in Note 2 (Foreign Currency Translation Adjustment and Net Unrealized Investment Gains (Losses)) and Note 18 (Pension and Postretirement Unrecognized Net Periodic Benefit (Cost)). The balance of and changes in each component of AOCI as of and for the years ended December 31, are as follows: Accumulated Other Comprehensive Income (Loss) Foreign Net Unrealized Pension and Total Accumulated Other Comprehensive Income (Loss) (in millions) Balance, December 31, 2017 $ (269) $ 19,968 $ (2,625) $ 17,074 Change in OCI before reclassifications (74) (7,614) (547) (8,235) Amounts reclassified from AOCI 1 (779) 227 (551) Income tax benefit (expense) 9 1,735 68 1,812 Cumulative effect of adoption of ASU 2016-01 0 (847) 0 (847) Cumulative effect of adoption of ASU 2018-02 (231) 2,282 (398) 1,653 Balance, December 31, 2018 (564) 14,745 (3,275) 10,906 Change in OCI before reclassifications 37 18,540 (563) 18,014 Amounts reclassified from AOCI 27 (1,345) 241 (1,077) Income tax benefit (expense) (36) (3,835) 60 (3,811) Cumulative effect of adoption of ASU 2017-12 0 7 0 7 Balance, December 31, 2019 (536) 28,112 (3,537) 24,039 Change in OCI before reclassifications 455 8,112 (70) 8,497 Amounts reclassified from AOCI 57 (883) 280 (546) Income tax benefit (expense) 76 (1,276) (52) (1,252) Balance, December 31, 2020 $ 52 $ 34,065 $ (3,379) $ 30,738 __________ (1) Includes cash flow hedges of $(168) million, $832 million and $811 million as of December 31, 2020, 2019, and 2018, respectively, and fair value hedges of $10 million, $0 million, and $0 million as of December 31, 2020, 2019, and 2018, respectively. Reclassifications out of Accumulated Other Comprehensive Income (Loss) Years Ended December 31, Affected line item in Consolidated 2020 2019 2018 (in millions) Amounts reclassified from AOCI(1)(2): Foreign currency translation adjustment: Foreign currency translation adjustment $ 1 $ (27) $ (1) Realized investment gains (losses), net Foreign currency translation adjustment (58) 0 0 Other income (loss) Total foreign currency translation adjustment (57) (27) (1) Net unrealized investment gains (losses): Cash flow hedges—Interest Rate 40 58 1 (3) Cash flow hedges—Currency 5 6 7 (3) Cash flow hedges—Currency/Interest rate 110 315 543 (3) Fair value hedges—Currency (1) 0 0 (3) Net unrealized investment gains (losses) on available-for-sale securities 729 966 228 Realized investment gains (losses), net Total net unrealized investment gains (losses) 883 1,345 779 (4) Amortization of defined benefit items: Prior service cost (2) 0 3 (5) Actuarial gain (loss) (278) (241) (230) (5) Total amortization of defined benefit items (280) (241) (227) Total reclassifications for the period $ 546 $ 1,077 $ 551 __________ (1) All amounts are shown before tax. (2) Positive amounts indicate gains/benefits reclassified out of AOCI. Negative amounts indicate losses/costs reclassified out of AOCI. (3) See Note 5 for additional information on cash flow and fair value hedges. (4) See table below for additional information on unrealized investment gains (losses), including the impact on deferred policy acquisition and other costs, future policy benefits and policyholders’ dividends. (5) See Note 18 for information on employee benefit plans. Net Unrealized Investment Gains (Losses) Net unrealized investment gains (losses) on available-for-sale fixed maturity securities and certain other invested assets and other assets are included in the Company’s Consolidated Statements of Financial Position as a component of AOCI. Changes in these amounts include reclassification adjustments to exclude from “Other comprehensive income (loss)” those items that are included as part of “Net income” for a period that had been part of “Other comprehensive income (loss)” in earlier periods. The amounts for the periods indicated below, split between amounts related to available-for-sale fixed maturity securities on which an OTTI loss had been previously recognized, an allowance for credit losses has been recognized, and all other net unrealized investment gains (losses), are as follows: Net Unrealized Investment Gains (Losses) on Available-for-Sale Fixed Maturity Securities on which an OTTI loss had been previously recognized and an allowance for credit losses has been recognized Net Unrealized DAC, DSI, VOBA and Reinsurance Recoverables Future Policy Policyholders’ Deferred Accumulated Other Comprehensive Income (Loss) (in millions) Balance, December 31, 2017 $ 286 $ (2) $ 3 $ (46) $ (94) $ 147 Net investment gains (losses) on investments arising during the period (19) 8 (11) Reclassification adjustment for (gains) losses included in net income (76) 33 (43) Reclassification adjustment for OTTI losses excluded from net income(1) (2) 1 (1) Impact of net unrealized investment (gains) losses on DAC, DSI, VOBA and reinsurance recoverables 1 0 1 Impact of net unrealized investment (gains) losses on future policy benefits, policyholders’ account balances and reinsurance payables 1 0 1 Impact of net unrealized investment (gains) losses on policyholders’ dividends 23 (9) 14 Balance, December 31, 2018 189 (1) 4 (23) (61) 108 Net investment gains (losses) on investments arising during the period 129 (29) 100 Reclassification adjustment for (gains) losses included in net income (96) 21 (75) Reclassification adjustment for OTTI losses excluded from net income(1) 21 (5) 16 Impact of net unrealized investment (gains) losses on DAC, DSI, VOBA and reinsurance recoverables 0 0 0 Impact of net unrealized investment (gains) losses on future policy benefits, policyholders’ account balances and reinsurance payables 1 0 1 Impact of net unrealized investment (gains) losses on policyholders’ dividends 1 0 1 Balance, December 31, 2019 243 (1) 5 (22) (74) 151 Reclassification to all other due to implementation of ASU 2016-13(2) (243) 1 (5) 22 74 (151) Net investment gains (losses) on investments arising during the period 47 (9) 38 Reclassification adjustment for (gains) losses included in net income 25 (5) 20 Increase (Decrease) due to non-credit related losses recognized in AOCI during the period (97) 19 (78) Impact of net unrealized investment (gains) losses on DAC, DSI, VOBA and reinsurance recoverables 1 0 1 Impact of net unrealized investment (gains) losses on future policy benefits, policyholders’ account balances and reinsurance payables (1) 0 (1) Impact of net unrealized investment (gains) losses on policyholders’ dividends 11 (2) 9 Balance, December 31, 2020 $ (25) $ 1 $ (1) $ 11 $ 3 $ (11) __________ (1) Represents “transfers in” related to the portion of OTTI losses recognized during the period that were not recognized in earnings for securities with no prior OTTI loss. (2) Represents net unrealized gains (losses) for which an OTTI loss had been previously recognized. All Other Net Unrealized Investment Gains (Losses) in AOCI Net Unrealized DAC, DSI, VOBA and Reinsurance Recoverables Future Policy Policyholders’ Deferred Accumulated Other Comprehensive Income (Loss) (in millions) Balance, December 31, 2017 $ 36,112 $ (1,580) $ (1,243) $ (3,631) $ (9,837) $ 19,821 Net investment gains (losses) on investments arising during the period (10,838) 2,893 (7,945) Reclassification adjustment for (gains) losses included in net income (703) 303 (400) Reclassification adjustment for OTTI losses excluded from net income(2) 2 (1) 1 Impact of net unrealized investment (gains) losses on DAC, DSI, VOBA and reinsurance recoverables 842 (263) 579 Impact of net unrealized investment (gains) losses on future policy benefits, policyholders’ account balances and reinsurance payables 452 (186) 266 Impact of net unrealized investment (gains) losses on policyholders’ dividends 1,924 (874) 1,050 Cumulative effect of adoption of ASU 2016-01 (2,042) 813 212 (1,017) Cumulative effect of adoption of ASU 2018-02 2,282 2,282 Balance, December 31, 2018 22,531 (738) (791) (894) (5,471) 14,637 Net investment gains (losses) on investments arising during the period 23,826 (5,282) 18,544 Reclassification adjustment for (gains) losses included in net income (1,249) 277 (972) Reclassification adjustment for OTTI losses excluded from net income(2) (21) 5 (16) Impact of net unrealized investment (gains) losses on DAC, DSI, VOBA and reinsurance recoverables (846) 190 (656) Impact of net unrealized investment (gains) losses on future policy benefits, policyholders’ account balances and reinsurance payables (2,123) 475 (1,648) Impact of net unrealized investment (gains) losses on policyholders’ dividends (2,450) 515 (1,935) Cumulative effect of adoption of ASU 2017-12 9 (2) 7 Balance, December 31, 2019 45,096 (1,584) (2,914) (3,344) (9,293) 27,961 Reclassification due to implementation of ASU 2016-13(3) 243 (1) 5 (22) (74) 151 Net investment gains (losses) on investments arising during the period 13,914 (2,656) 11,258 Reclassification adjustment for (gains) losses included in net income (908) 173 (735) Reclassification due to allowance for credit losses recorded during the period 97 (19) 78 Impact of net unrealized investment (gains) losses on DAC, DSI, VOBA and reinsurance recoverables 355 (70) 285 Impact of net unrealized investment (gains) losses on future policy benefits, policyholders’ account balances and reinsurance payables (3,678) 760 (2,918) Impact of net unrealized investment (gains) losses on policyholders’ dividends (2,537) 533 (2,004) Balance, December 31, 2020 $ 58,442 $ (1,230) $ (6,587) $ (5,903) $ (10,646) $ 34,076 __________ (1) Includes cash flow and fair value hedges. See Note 5 for additional information. (2) Represents “transfers out” related to the portion of OTTI losses recognized during the period that were not recognized in earnings for securities with no prior OTTI loss. (3) Represents net unrealized gains (losses) for which an OTTI loss had been previously recognized. Retained earnings Retained earnings primarily represents the cumulative net income earned by the Company that has been retained by the Company as of the reporting date. Other unique items, included but not limited to the adoption of new accounting standards updates, may also impact retained earnings. In any given period, retained earnings may increase due to net income and may decrease due to net losses or the declaration of dividends. The declaration and payment of dividends on the Common Stock is limited by New Jersey corporate law, pursuant to which Prudential Financial is prohibited from paying a Common Stock dividend if, after giving effect to that dividend, either (a) the Company would be unable to pay its debts as they become due in the usual course of its business or (b) the Company’s total assets would be less than its liabilities. In addition, the terms of the Company’s outstanding junior subordinated debt include a “dividend stopper” provision that restricts the payment of dividends on the Common Stock if interest payments are not made on the junior subordinated debt. Other than the above limitations, the Company’s Retained earnings balance is free of restrictions for the payment of Common Stock dividends; however, Common Stock dividends will be dependent upon financial conditions, results of operations, cash needs, future prospects and other factors, including cash available to Prudential Financial, the parent holding company. The principal sources of funds available to Prudential Financial are dividends and returns of capital from its subsidiaries, loans from its subsidiaries, repayments of operating loans from its subsidiaries, and cash and other highly liquid assets. The primary uses of funds at Prudential Financial include servicing its debt, operating expenses, capital contributions and loans to subsidiaries, the payment of declared shareholder dividends and repurchases of outstanding shares of Common Stock if executed under Board authority. As of December 31, 2020, Prudential Financial had highly liquid assets (excluding amounts held in an intercompany liquidity account) of $5,560 million predominantly including cash, short-term investments, U.S. Treasury securities, obligations of other U.S. government authorities and agencies, and/or foreign government bonds. Future cash available at Prudential Financial to support the payment of future Common Stock dividends is dependent on the receipt of dividends or other funds from its subsidiaries, the majority of which are subject to comprehensive regulation, including limitations on their payment of dividends and other transfers of funds, which are discussed in this Note further below. Non-controlling interests Insurance Subsidiaries - Statutory Financial Information and Restrictions on Payments of Dividends U.S. Insurance Subsidiaries - Statutory Financial Information The Company’s domestic insurance subsidiaries are required to prepare statutory financial statements in accordance with statutory accounting practices prescribed or permitted by the insurance department of the state of domicile. Statutory accounting practices primarily differ from U.S. GAAP by charging policy acquisition costs to expense as incurred, establishing future policy benefit liabilities using different actuarial assumptions as well as valuing investments and certain assets and accounting for deferred taxes on a different basis. The risk-based capital (“RBC”) ratio is a primary measure by which the Company and its insurance regulators evaluate the capital adequacy of PICA and the Company’s other domestic insurance subsidiaries. RBC is determined by NAIC-prescribed formulas that consider, among other things, risks related to the type and quality of the invested assets, insurance-related risks associated with an insurer’s products and liabilities, interest rate risks and general business risks. Insurers that have less statutory capital than required are considered to have inadequate capital and are subject to varying degrees of regulatory action depending upon the level of capital inadequacy. The Company expects to report RBC ratios as of December 31, 2020 above the regulatory required minimums that would require corrective action and above our “AA” financial strength target levels for both PICA and Prudential Annuities Life Assurance Corporation (“PALAC”). The following table summarizes certain statutory financial information for the Company’s two largest U.S. insurance subsidiaries for the periods indicated: PICA PALAC In millions and presented as of or for the year ended December 31, 2020 December 31, 2019 December 31, 2018 December 31, 2020 December 31, 2019 December 31, 2018 Statutory net income (loss) $ 1,770 $ (169) $ 1,324 $ (637) $ (2,052) $ (852) Statutory capital and surplus $ 11,597 $ 11,483 $ 10,695 $ 6,262 $ 4,748 $ 6,396 U.S. Insurance Subsidiaries - Restrictions on Payment of Dividends to Prudential Financial, the Parent Holding Company With respect to PICA, a New Jersey domiciled insurance subsidiary which is also the Company’s primary domestic insurance subsidiary, New Jersey insurance law provides that, except in the case of extraordinary dividends (as described below), all dividends or other distributions paid by PICA may be paid only from unassigned surplus, as determined pursuant to statutory accounting principles, less cumulative unrealized investment gains and losses and revaluation of assets as of the prior calendar year-end. As of December 31, 2020, PICA’s unassigned surplus less applicable adjustments for cumulative unrealized investment gains was $8,266 million. PICA must give prior notification to the NJDOBI of its intent to pay any such dividend or distribution. Also, if any dividend, together with other dividends or distributions made within the preceding twelve months, exceeds the greater of (i) 10% of statutory capital and surplus as of the preceding December 31 or (ii) its statutory net gain from operations excluding realized investment gains and losses for the twelve-month period ending on the preceding December 31, the dividend is considered to be an “extraordinary dividend” and requires the prior approval of the NJDOBI. Under New Jersey insurance law, PICA is permitted to pay an ordinary dividend of up to $1,476 million in 2021, without prior approval of the NJDOBI. The laws regulating dividends of the states where the Company’s other domestic insurance subsidiaries are domiciled are similar, but not identical, to New Jersey. With respect to PALAC, an Arizona domiciled insurance subsidiary of the Company, Arizona insurance law provides that if any dividend, together with other dividends or distributions made within the preceding twelve months, exceeds the lesser of (i) 10% of statutory capital and surplus as of the preceding December 31 or (ii) its statutory net gain from operations excluding realized investment gains and losses for the twelve month period ending on the preceding December 31, the dividend is considered to be an “extraordinary dividend” and requires prior approval of the Arizona Department of Insurance. Under Arizona law, PALAC has no ordinary dividend capacity during 2021. All dividends will be considered extraordinary and will require prior approval from the Arizona Department of Insurance. International Insurance Subsidiaries - Statutory Financial Information The Company’s international insurance subsidiaries prepare financial statements in accordance with local regulatory requirements. These statutory accounting practices differ from U.S. GAAP primarily by charging policy acquisition costs to expense as incurred and establishing future policy benefit liabilities using different actuarial assumptions, as well as valuing investments and certain assets and accounting for deferred taxes on a different basis. The Japan Financial Services Agency (“FSA”) utilizes a solvency margin ratio to evaluate the capital adequacy of Japanese insurance companies. The solvency margin ratio considers the level of solvency margin capital to a solvency margin risk amount, which is calculated in a similar manner to RBC. As of December 31, 2020, the Company expects The Prudential Life Insurance Company Ltd. (“Prudential of Japan”) and Gibraltar Life both had solvency margin capital in excess of 3.5 times the regulatory required minimums that would require corrective action. All of the Company’s domestic and international insurance subsidiaries have capital and surplus levels that exceed their respective regulatory minimum requirements, and none utilized prescribed or permitted practices that vary materially from the practices prescribed by the NAIC or equivalent regulatory bodies for results reported as of December 31, 2020 and 2019, respectively, or for the years ended December 31, 2020, 2019 and 2018, respectively. International Insurance Subsidiaries - Restrictions on Payment of Dividends to Prudential Financial, the Parent Holding Company The Company’s international insurance operations are subject to dividend restrictions from the regulatory authorities in the jurisdictions in which they operate. With respect to Prudential of Japan and Gibraltar Life, the Company’s most significant international insurance subsidiaries, both of which are domiciled in Japan, Japan insurance law provides that common stock dividends may be paid in an amount of up to 83% of prior fiscal year statutory after-tax earnings, after certain reserving thresholds are met, including providing for policyholder dividends. If statutory retained earnings exceed 100% of statutory paid-in capital, 100% of prior year statutory after-tax earnings may be paid, after reserving thresholds are met. Dividends in excess of these amounts and other forms of capital distribution require the prior approval of the FSA. Additionally, Prudential of Japan and Gibraltar Life must give prior notification to the FSA of their intent to pay any dividend or distribution. For the year ended December 31, 2020, Prudential Financial received $3,531 million from its international insurance subsidiaries, which includes $1,627 million of net proceeds from the sale of POK and $470 million of in-kind dividends in the form of extinguishment of debt held by international insurance subsidiaries. In addition to paying Common Stock dividends, the Company’s international insurance operations may return capital to Prudential Financial through, or facilitated by, other means, such as the repayment of Preferred Stock obligations held by Prudential Financial or other affiliates, affiliated lending, affiliated derivatives and reinsurance with U.S.- and Bermuda-based affiliates. In 2019, the Company’s Japan insurance operations entered into reinsurance agreements with Gibraltar Re, the Company’s Bermuda-based reinsurance affiliate, to reinsure the mortality and morbidity risk associated with a portion of the in-force contracts as well as newly-issued contracts for certain products. The Company expects these transactions will allow it to more efficiently manage its capital and risk profile. The current regulatory fiscal year end for both Prudential of Japan and Gibraltar Life is March 31, 2021, after which time the common stock dividend amount permitted to be paid without prior approval from the FSA can be determined. In addition, although prior regulatory approval may not be required by law for the payment of dividends up to the limitations described above, in practice, the Company would typically discuss any dividend payments with the applicable regulatory authority prior to payment. Additionally, the payment of dividends by the Company’s subsidiaries is subject to declaration by their Board of Directors and may be affected by market conditions and other factors.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
Earnings Per Share	EARNINGS PER SHARE A reconciliation of the numerators and denominators of the basic and diluted per share computations of Common Stock based on the consolidated earnings of Prudential Financial for the years ended December 31, is as follows: 2020 2019 2018 Income Weighted Per Share Income Weighted Per Share Income Weighted Per Share (in millions, except per share amounts) Basic earnings per share Net income (loss) $ (146) $ 4,238 $ 4,088 Less: Income (loss) attributable to noncontrolling interests 228 52 14 Less: Dividends and undistributed earnings allocated to participating unvested share-based payment awards 21 46 48 Net income (loss) attributable to Prudential Financial available to holders of Common Stock $ (395) 395.8 $ (1.00) $ 4,140 404.8 $ 10.23 $ 4,026 417.6 $ 9.64 Effect of dilutive securities and compensation programs Add: Dividends and undistributed earnings allocated to participating unvested share-based payment awards—Basic $ 21 $ 46 $ 48 Less: Dividends and undistributed earnings allocated to participating unvested share-based payment awards—Diluted 21 45 47 Stock options 0.0 1.1 1.5 Deferred and long-term compensation programs 0.0 1.4 1.2 Exchangeable Surplus Notes 0 0.0 12 3.6 21 5.9 Diluted earnings per share(1) Net income (loss) attributable to Prudential Financial available to holders of Common Stock $ (395) 395.8 $ (1.00) $ 4,153 410.9 $ 10.11 $ 4,048 426.2 $ 9.50 Unvested share-based payment awards that contain nonforfeitable rights to dividends are participating securities and included in the computation of earnings per share pursuant to the two-class method. Under this method, earnings attributable to Prudential Financial are allocated between Common Stock and the participating awards, as if the awards were a second class of stock. During periods of net income available to holders of Common Stock, the calculation of earnings per share excludes the income attributable to participating securities in the numerator and the dilutive impact of these securities from the denominator. In the event of a net loss available to holders of Common Stock, undistributed earnings are not allocated to participating securities and the denominator excludes the dilutive impact of these securities as they do not share in the losses of the Company. Undistributed earnings allocated to participating unvested share-based payment awards for the years ended December 31, 2020, 2019 and 2018, as applicable, were based on 4.9 million, 4.6 million and 4.9 million of such awards, respectively, weighted for the period they were outstanding. Stock options and shares related to deferred and long-term compensation programs that are considered antidilutive are excluded from the computation of diluted earnings per share. Stock options are considered antidilutive based on application of the treasury stock method or in the event of a net loss available to holders of Common Stock. Shares related to deferred and long-term compensation programs are considered antidilutive in the event of a net loss available to holders of Common Stock. For the years ended December 31, the number of stock options and shares related to deferred and long-term compensation programs that were considered antidilutive and were excluded from the computation of diluted earnings per share, weighted for the portion of the period they were outstanding, are as follows: 2020 2019 2018 Shares Exercise Shares Exercise Shares Exercise (in millions, except per share amounts, based on Antidilutive stock options based on application of the treasury stock method 3.3 $ 82.06 1.2 $ 102.84 0.7 $ 108.34 Antidilutive stock options due to net loss available to holders of Common Stock 0.4 0.0 0.0 Antidilutive shares based on application of the treasury stock method 0.2 0.0 0.0 Antidilutive shares due to net loss available to holders of Common Stock 1.6 0.0 0.0 Total antidilutive stock options and shares 5.5 1.2 0.7 In September 2009, the Company issued $500 million of surplus notes with an interest rate of 5.36% per annum which were exchangeable at the option of the note holders for shares of Common Stock. In August 2019, as a result of the note holders’ exercise of the exchange option, the Company issued approximately 6.2 million shares of Common Stock at an exchange rate equal to 12.3877 shares of Common Stock per each $1,000 principal amount of surplus notes. The Company’s obligations under the surplus notes are now satisfied. In calculating diluted earnings per share under the if-converted method, for the years ended December 31, 2019 and 2018, the potential shares that would be issued assuming a hypothetical exchange, weighted for the period the notes were outstanding, are added to the denominator, and the related interest expense, net of tax, is excluded from the numerator, if the overall effect is dilutive.

Share-Based Payments

Share-Based Payments	12 Months Ended
	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Share-based Payment Arrangement	SHARE-BASED PAYMENTS Omnibus Incentive Plan Prudential Financial, Inc.’s Omnibus Incentive Plan provides stock-based awards including stock options, stock appreciation rights, restricted stock shares, restricted stock units, stock settled performance shares, and cash settled performance units. Dividend equivalents are generally provided on restricted stock shares and restricted stock units outstanding as of the record date. Dividend equivalents are generally accrued on target performance shares and units outstanding as of the record date. These dividend equivalents are paid only on the performance shares and units released up to a maximum of the target number of shares and units awarded. Generally, the requisite service period is the vesting period. There were 9,906,113 authorized shares available for grant under the Omnibus Incentive Plan as of December 31, 2020. Assurance IQ Acquisition The Company acquired Assurance IQ on October 10, 2019. The terms of the Acquisition included compensation awards that involved share-based payment arrangements that are linked to retention and therefore fall under the reporting requirements of ASC 718, Stock Compensation. These compensation awards include stock options, restricted stock units and performance shares. Compensation Costs Compensation cost for restricted stock units, performance shares and performance units granted to employees is measured by the share price of the underlying Common Stock at the date of grant. Compensation cost for employee stock options is based on the fair values estimated on the grant date. Under the Omnibus Incentive Plan, the fair value of each stock option award is estimated using a binomial option pricing model on the date of grant for stock options issued to employees. For the Acquisition related awards, the fair value of each stock option award is based on its intrinsic value on the date of grant. The weighted average grant date assumptions used in the binomial option valuation model are as follows: 2020 2019 2018 Expected volatility 33.99 % 34.63 % 35.39 % Expected dividend yield 4.59 % 4.26 % 2.88 % Expected term 5.60 years 5.54 years 5.49 years Risk-free interest rate 1.42 % 2.50 % 2.64 % Expected volatilities are based on historical volatility of Prudential Financial’s Common Stock and implied volatilities from traded options on Prudential Financial’s Common Stock. The Company uses historical data and expectations of future exercise patterns to estimate option exercises and employee terminations within the valuation model. The expected term of options granted represents the period of time that options granted are expected to be outstanding. The risk-free rate for periods associated with the expected term of the option is based on the U.S. Treasury yield curve in effect at the time of grant. The following table summarizes the compensation cost recognized and the related income tax benefit for stock options, restricted stock units, performance shares and performance units for the years ended December 31: 2020 2019 2018 Omnibus Incentive Plan: Total Income Tax Total Income Tax Total Income Tax (in millions) Employee stock options $ 11 $ 3 $ 11 $ 3 $ 13 $ 3 Employee restricted stock units 162 38 149 35 139 32 Employee performance shares and performance units 53 12 71 17 3 1 Total $ 226 $ 53 $ 231 $ 55 $ 155 $ 36 __________ (1) Compensation costs related to retirement eligible participants are recorded on the grant date (typically in the first quarter of every year). 2020 2019 Assurance IQ Acquisition: Total Income Tax Total Income Tax (in millions) Employee stock options $ 14 $ 4 $ 4 $ 1 Employee restricted stock units 2 1 1 0 Employee performance shares 0 0 0 0 Total $ 16 $ 5 $ 5 $ 1 Compensation costs related to stock-based compensation plans capitalized in deferred acquisition costs for the years ended December 31, 2020, 2019 and 2018 were de minimis. Stock Options Each stock option granted under the Omnibus Incentive Plan has an exercise price at the fair market value of Prudential Financial’s Common Stock on the date of grant and has a maximum term of 10 years. Generally, one third of the option grant vests in each of the first three years. Options granted related to the Acquisition have an exercise price based on the original strike price of the Assurance IQ options that they replaced and have a maximum term of 10 years from the date the Assurance IQ options were originally granted. Options granted related to the Acquisition generally vest quarterly over three years. A summary of the status of the Company’s stock option grants is as follows: Employee Stock Options Omnibus Incentive Plan Assurance IQ Acquisition Shares Weighted Average Shares Weighted Average Outstanding at December 31, 2019 4,610,997 $ 76.26 547,192 $ 1.38 Granted 610,027 95.87 0 0.00 Exercised (647,313) 59.82 (142,638) 0.51 Forfeited 0 0.00 (10,288) 5.10 Expired (9,859) 78.45 0 0.00 Outstanding at December 31, 2020 4,563,852 $ 81.21 394,266 $ 1.60 Exercisable at December 31, 2020 3,427,197 $ 76.25 57,791 $ 4.02 The weighted average grant date fair value of employee stock options granted under the Omnibus Incentive Plan during the years ended December 31, 2020, 2019 and 2018 was $18.00, $20.02 and $27.11, respectively. For the Acquisition related awards, the weighted average grant date fair value of employee stock options granted during the year ended December 31, 2019 was $86.31. No Acquisition related options were granted in 2020. The total intrinsic value (i.e., market price of the stock less the option exercise price) of employee stock options exercised during the years ended December 31, 2020, 2019 and 2018 was $13 million, $21 million, and $28 million, respectively. For the Acquisition related awards, the total intrinsic value of employee stock options exercised during the years ended December 31, 2020 and 2019 were $10 million and $3 million, respectively. The weighted average remaining contractual term and the aggregate intrinsic value of stock options outstanding and exercisable as of December 31, 2020 is as follows: Employee Stock Options Omnibus Incentive Plan Assurance IQ Acquisition Weighted Average Aggregate Weighted Average Aggregate (in years) (in millions) (in years) (in millions) Outstanding 4.47 $ 32 7.44 $ 30 Exercisable 3.46 $ 32 7.39 $ 4 Restricted Stock Units, Performance Share Awards and Performance Unit Awards A restricted stock unit is an unfunded, unsecured right to receive a share of Prudential Financial’s Common Stock at the end of a specified period of time, which is subject to forfeiture and transfer restrictions. Generally, the restrictions will lapse on the third anniversary of the date of grant. Performance shares and performance units are awards denominated in Prudential Financial’s Common Stock. The number of units is determined over the performance period and may be adjusted based on the satisfaction of certain performance goals for the Company. Performance share awards are payable in Prudential Financial’s Common Stock. Performance unit awards are payable in cash. Effective October 2019, the Company modified certain provisions of its long term compensation plan to settle the performance units component in Prudential Financial Common Stock. As a result, outstanding performance units were converted to performance shares except for certain employee directed deferrals in the deferred compensation plan which remain as performance units for the full life of the grant. Beginning in 2020, the Company no longer grants performance unit awards. A summary of the Company’s restricted stock units, performance shares and performance unit awards under the Omnibus Incentive Plan is as follows: Restricted Weighted Performance Weighted Restricted at December 31, 2019(2) 4,471,189 $ 102.25 1,822,886 $ 90.03 Granted(2) 1,922,202 93.88 671,994 95.42 Forfeited (197,399) 95.86 (16,118) 65.17 Performance adjustment(3) 49,485 95.43 Released (1,437,753) 109.73 (622,607) 90.23 Restricted at December 31, 2020(2) 4,758,239 $ 96.87 1,905,640 $ 92.07 __________ (1) Performance share and performance unit awards reflect the target units awarded, reduced for forfeitures and releases to date. The actual number of units to be awarded at the end of each performance period will range between 0% and 125% of the target number of units granted, based upon a measure of the reported performance for the Company relative to stated goals. Performance awards granted to senior management in 2018 include a stated goal related to diversity & inclusion that can modify the performance result by +/- 10%. (2) Effective October 1, 2019, the Company modified existing performance share and performance unit awards to remove features of the grants that prevent having a mutual understanding of the key terms and conditions of the award between the employee and employer until the grants vested. Consequently, the weighted average grant date fair value as of December 31, 2020 is the closing stock price of Prudential Financial’s common stock as of September 30, 2019. The weighted average grant date fair value as of December 31, 2018 is the closing stock price of Prudential Financial’s common stock as of December 31, 2019. (3) Represents the difference between the target units granted and the actual units awarded based upon the attainment of performance goals for the Company. A summary of the Company’s restricted stock units and performance share awards related to the Acquisition is as follows: Restricted Weighted Performance Weighted Restricted at December 31, 2019 125,788 $ 87.67 1,982,708 $ 89.81 Granted 0 0.00 112,949 63.30 Forfeited (20,222) 87.67 (29,662) 85.30 Performance adjustment(2) 0 0.00 0 0.00 Released (32,869) 87.67 0 0.00 Restricted at December 31, 2020 72,697 $ 87.67 2,065,995 $ 88.43 __________ (1) Performance share awards related to the Assurance IQ acquisition reflect the maximum number of units that have been awarded under the terms of the acquisition. The actual number of units that will be awarded at the end of the performance period will range between 0% and 100% of the number of units granted, based upon a predetermined formula of achieving Variable Profits between $900 million and $1,300 million. (2) Represents the difference between the target units granted and the actual units awarded based upon the attainment of performance goals for the Company. The fair market value of restricted stock units, performance shares and performance units released under the Omnibus Incentive Plan for the years ended December 31, 2020, 2019 and 2018 was $191 million, $255 million and $238 million, respectively. The fair market value of restricted stock units for the Acquisition related awards under the Omnibus Incentive Plan for the year ended December 31, 2020 was $2 million. There were no vested restricted stock units or performance shares related to the Acquisition for the year ended December 31, 2019. The weighted average grant date fair value for restricted stock units granted under the Omnibus Incentive Plan during the years ended December 31, 2020, 2019 and 2018 was $93.88, $93.35 and $106.32, respectively. The weighted average grant date fair value for performance shares and performance units granted under the Omnibus Incentive Plan during the years ended December 31, 2020, 2019 and 2018 was $95.42, $90.68 and $81.55, respectively. The weighted average grant date fair value for restricted stock units granted for the Acquisition during the year ended December 31, 2019 was $87.67. No restricted units were granted in 2020. The weighted average grant date fair value for performance shares granted for the Acquisition during the years ended December 31, 2020 and 2019 were $63.30 and $89.81 respectively . Unrecognized Compensation Cost Unrecognized compensation cost for stock options under the Omnibus Incentive Plan as of December 31, 2020 was $3 million with a weighted average recognition period of 1.57 years. Unrecognized compensation cost for restricted stock units, performance shares and performance units under the Omnibus Incentive Plan as of December 31, 2020 was $153 million with a weighted average recognition period of 1.68 years. Unrecognized compensation cost for stock options related to the Acquisition as of December 31, 2020 was $30 million with a weighted average recognition period of 2.16 years. Unrecognized compensation cost for restricted stock units and performance shares related to the Acquisition as of December 31, 2020 was $7 million with a weighted average recognition period of 3.23 years. Tax Benefits Realized The Company’s tax benefit realized for exercises of stock options under the Omnibus Incentive Plan during the years ended December 31, 2020, 2019 and 2018 was $3 million, $5 million and $7 million, respectively. The tax benefit realized for exercises of stock options related to the Acquisition during the years ended December 31, 2020 and 2019 were $3 million and $2 million, respectively. The Company’s tax benefit realized upon vesting of restricted stock units, performance shares and performance units under the Omnibus Incentive Plan for the years ended December 31, 2020, 2019 and 2018 was $44 million, $52 million and $49 million, respectively. The tax benefit realized upon vesting of restricted stock units and performance shares related to the Acquisition during the year ended December 31, 2020 was $1 million. There were no vested restricted stock units or performance shares related to the Acquisition for the year ended December 31, 2019. Settlement of Awards The Company’s policy is to issue shares from Common Stock held in treasury upon exercise of stock options, the release of restricted stock units and performance shares. The Company uses cash to settle performance units. The amount of cash used to settle performance units during the years ended December 31, 2020, 2019 and 2018 was $2 million, $32 million and $29 million, respectively.

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2020
Segment Reporting [Abstract]
Segment Information	SEGMENT INFORMATION Segments The Company operates through eight segments: PGIM (our global investment management business); Retirement, Group Insurance, Individual Annuities, Individual Life, and Assurance IQ (collectively referred to as the U.S. Businesses); International Businesses; and Closed Block. In addition, the Company reports certain of its results of operations in its Corporate and Other operations. The PGIM segment provides investment management services and solutions related to public fixed income, public equity, real estate debt and equity, private credit and other alternatives, and multi-asset class strategies, to institutional and retail clients globally, as well as the Company’s general account. The U.S. Businesses offer a broad range of products and solutions that cover protection, retirement, savings, income and investment needs. The U.S. Businesses are organized into three divisions: U.S. Workplace Solutions division. The U.S. Workplace Solutions division consists of the Retirement and Group Insurance segments. The Retirement segment provides a broad range of retirement investment and income products and services to retirement plan sponsors in the public, private and not-for-profit sectors. The Group Insurance segment provides a full range of group life, long-term and short-term group disability, and group corporate-, bank- and trust-owned life insurance in the U.S., primarily to institutional clients for use in connection with employee plans and affinity groups. U.S. Individual Solutions division. The U.S. Individual Solutions division consists of the Individual Annuities and Individual Life segments. The Individual Annuities segment develops and distributes individual variable and fixed annuity products, primarily to the U.S. mass affluent and affluent markets. The Individual Life segment develops and distributes individual variable life, term life and universal life insurance products primarily to the U.S. mass middle, mass affluent and affluent markets. Assurance IQ division. The Assurance IQ division consists of the Assurance IQ segment, a leading consumer solutions platform that offers a range of solutions to help meet consumers’ financial needs. Assurance IQ leverages data science and technology to primarily distribute third-party products (such as Medicare, health, life, property and casualty, and personal finance products) and a proprietary term life product directly to retail shoppers, primarily through its digital and agent channels. Additionally, Assurance IQ may help customers fulfill financial wellness needs by matching them with other product providers or intermediaries. The International Businesses develops and distributes individual life insurance, retirement and related products to the mass affluent and affluent markets in Japan and other foreign countries through its Life Planner operations. In addition, similar products are offered through its Gibraltar Life and Other operations to the broad middle income and mass affluent markets across Japan and the Company’s joint ventures in various foreign countries through multiple distribution channels (including banks, independent agencies and Life Consultants). The Closed Block division includes certain in-force participating insurance and annuity products and corresponding assets that are used for the payment of benefits, expenses and policyholders’ dividends related to these products, as well as certain related assets and liabilities. In connection with demutualization, the Company ceased offering these participating products. The Closed Block division is accounted for as a divested business that is reported separately from the Divested and Run-off Businesses that are included in the Company’s Corporate and Other operations. See Note 15 for additional information on the Closed Block. Corporate and Other Operations consists primarily of: (1) capital that is not deployed in any business segment; (2) investments not allocated to business segments, including debt-financed investment portfolios, and tax credit and other tax-enhanced investments financed by business segments; (3) capital debt, including any related interest expense and financing costs, that is used or will be used to meet the capital requirements of the Company; (4) our qualified and non-qualified pension and other employee benefit plans, after allocations to business segments; (5) corporate-level activities, after allocations to business segments, including strategic expenditures, acquisition and disposition costs, corporate governance, corporate advertising, philanthropic activities, deferred compensation, costs related to certain contingencies and legal matters; (6) expenses associated with the multi-year plan of programs that span across our businesses and the functional areas that support those businesses; (7) certain retained obligations relating to pre-demutualization policyholders; (8) impacts of risk management activities pursuant to our Risk Appetite Framework; (9) the foreign currency income hedging program used to hedge certain non-U.S. dollar denominated earnings in our International Businesses segment; (10) intercompany arrangements with our International Businesses and PGIM segments to translate non-U.S. dollar-denominated earnings at fixed currency exchange rates; and (11) transactions with and between other segments, including the elimination of intercompany transactions for consolidation purposes. Segment Accounting Policies. The accounting policies of the segments are the same as those described in Note 2. Results for each segment include earnings on attributed equity established at a level which management considers necessary to support each segment’s risks. Operating expenses specifically identifiable to a particular segment are allocated to that segment as incurred. Operating expenses not identifiable to a specific segment that are incurred in connection with the generation of segment revenues are generally allocated based upon the segment’s historical percentage of general and administrative expenses. For information related to significant acquisitions, see Note 1. For information related to the adoption of new accounting pronouncements, see Note 2. The segments’ results in prior years have been revised for these items, as applicable, to conform to the current year presentation. Adjusted Operating Income The Company analyzes the operating performance of each segment using “adjusted operating income.” Adjusted operating income does not equate to “Income (loss) before income taxes and equity in earnings of operating joint ventures” or “Net income (loss)” as determined in accordance with U.S. GAAP but is the measure of segment profit or loss used by the Company’s chief operating decision maker to evaluate segment performance and allocate resources and, consistent with authoritative guidance, is the measure of segment performance presented below. Adjusted operating income is calculated by adjusting each segment’s “Income (loss) before income taxes and equity in earnings of operating joint ventures” for the following items, which are described in greater detail below: • Realized investment gains (losses), net, and related adjustments; • Charges related to realized investment gains (losses), net; • Market experience updates; • Divested and Run-off Businesses; • Other adjustments; and • Equity in earnings of operating joint ventures and earnings attributable to noncontrolling interests. These items are important to an understanding of overall results of operations. Adjusted operating income is not a substitute for income determined in accordance with U.S. GAAP, and the Company’s definition of adjusted operating income may differ from that used by other companies. However, the Company believes that the presentation of adjusted operating income as measured for management purposes enhances the understanding of results of operations by highlighting the results from ongoing operations and the underlying profitability factors of its businesses. Realized investment gains (losses), net, and related adjustments Realized investment gains (losses), net Adjusted operating income excludes “Realized investment gains (losses), net,” except for certain items described below. Significant activity excluded from adjusted operating income includes impairments and credit-related gains (losses) from sales of securities, the timing of which depends largely on market credit cycles and can vary considerably across periods, and interest rate-related gains (losses) from sales of securities, which are largely subject to the Company’s discretion and influenced by market opportunities, as well as the Company’s tax and capital profile. Additionally, adjusted operating income excludes realized investment gains (losses) from products that contain embedded derivatives, and from associated derivative portfolios that are part of an asset/liability management program related to the risk of those products. While the Company has historically reflected the results of its variable annuities hedging programs in adjusted operating income over time, beginning with the second quarter of 2020 these impacts are excluded from adjusted operating income, which the Company believes enhances the understanding of underlying performance trends. The following table sets forth the significant components of “Realized investment gains (losses), net” that are included in adjusted operating income and, as a result, are reflected as adjustments to “Realized investment gains (losses), net” for purposes of calculating adjusted operating income: Year Ended December 31, 2020 2019 2018 (in millions) Net gains (losses) from(1)(2): Terminated hedges of foreign currency earnings $ 68 $ 60 $ (14) Current period yield adjustments $ 364 $ 326 $ 369 Principal source of earnings $ 57 $ (37) $ 219 __________ (1) In addition to the items in the table above, “Realized investment gains (losses), net, and related charges and adjustments” also includes an adjustment to reflect “Realized investment gains (losses), net” related to Divested and Run-off Businesses. See “Divested and Run-off Businesses” discussed below. (2) Prior period amounts have been updated to conform to current period presentation. Terminated Hedges of Foreign Currency Earnings. The amounts shown in the table above primarily reflect the impact of an intercompany arrangement between Corporate and Other operations and the International Businesses segment, pursuant to which the non-U.S. dollar-denominated earnings in all countries for a particular year, including its interim reporting periods, are translated at fixed currency exchange rates. The fixed rates are determined in connection with a currency hedging program designed to mitigate the risk that unfavorable rate changes will reduce the segment’s U.S. dollar-equivalent earnings. Pursuant to this program, the Company’s Corporate and Other operations may execute forward currency contracts with third-parties to sell the net exposure of projected earnings from the hedged currency in exchange for U.S. dollars at a specified exchange rate. The maturities of these contracts correspond with the future periods in which the identified non-U.S. dollar-denominated earnings are expected to be generated. These contracts do not qualify for hedge accounting under U.S. GAAP, so the resulting profits or losses are recorded in “Realized investment gains (losses), net.” When the contracts are terminated in the same period that the expected earnings emerge, the resulting positive or negative cash flow effect is included in adjusted operating income. Current Period Yield Adjustments. The Company uses interest rate and currency swaps and other derivatives to manage interest and currency exchange rate exposures arising from mismatches between assets and liabilities, including duration mismatches. For derivative contracts that do not qualify for hedge accounting treatment, the periodic swap settlements, as well as certain other derivative related yield adjustments are recorded in “Realized investment gains (losses), net,” and are included in adjusted operating income to reflect the after-hedge yield of the underlying instruments. In certain instances, when these derivative contracts are terminated or offset before their final maturity, the resulting realized gains or losses are recognized in adjusted operating income over periods that generally approximate the expected terms of the derivatives or underlying instruments in order for adjusted operating income to reflect the after-hedge yield of the underlying instruments. Included in the amounts shown in the table above are gains (losses) on certain derivative contracts that were terminated or offset before their final maturity of $41 million, $41 million and $19 million for the years ended 2020, 2019 and 2018, respectively. As of December 31, 2020, there was a $195 million deferred net gain related to certain derivative contracts that were terminated or offset before their final maturity, primarily in the International Businesses. Also included in the amounts shown in the table above are fees related to synthetic GICs of $139 million, $147 million and $146 million for the years ended 2020, 2019 and 2018, respectively. Synthetic GICs are accounted for as derivatives under U.S. GAAP and, therefore, these fees are recorded in “Realized investment gains (losses), net.” See Note 5 for additional information on synthetic GICs. Principal Source of Earnings. The Company conducts certain activities for which realized investment gains (losses) are a principal source of earnings for its businesses and are therefore included in adjusted operating income, particularly within the Company’s PGIM segment. For example, PGIM’s strategic investing business makes investments for sale or syndication to other investors or for placement or co-investment in the Company’s managed funds and structured products. The realized investment gains (losses) associated with the sale of these strategic investments, as well as the majority of derivative results, are a principal activity for this business and included in adjusted operating income. In addition, the realized investment gains (losses) associated with loans originated by the Company’s commercial mortgage operations, as well as related derivative results and retained mortgage servicing rights, are a principal activity for this business and are therefore included in adjusted operating income. Adjustments related to Realized investment gains (losses), net The following table sets forth certain other items excluded from adjusted operating income and reflected as an adjustment to “Realized investment gains (losses), net” for purposes of calculating adjusted operating income: Year Ended December 31, 2020 2019 2018 (in millions) Net gains (losses) from(1): Investments carried at fair value through net income $ 163 $ 490 $ (343) Foreign currency exchange movements $ 3 $ 42 $ (270) Gains (losses), net, on experience-rated contracts (excluding derivatives and commercial mortgage and other loans)(2) $ 50 $ 22 $ (153) Other activities $ (35) $ (32) $ (34) __________ (1) Prior period amounts have been updated to conform to current period presentation. (2) Adjusted operating income excludes net investment gains (losses) on assets supporting experience-rated contractholder liabilities, related derivatives, and commercial mortgage and other loans. The activity for derivatives and commercial mortgage and other loans that support these experience-rated products are reported in “Realized investment gains (losses), net” and excluded from adjusted operating income. Investments carried at fair value through net income. The Company has certain investments in its general account portfolios that are carried at fair value with changes in fair value reported in “Other income (loss).” Examples include the Company’s investments in equity securities and fixed maturities designated as trading. Consistent with the exclusion of realized investment gains (losses) with respect to other investments managed on a consistent basis, the net gains or losses on these investments are excluded from adjusted operating income. Foreign Currency Exchange Movements. The Company has certain assets and liabilities for which, under U.S. GAAP, the changes in value, including those associated with changes in foreign currency exchange rates during the period, are recorded in “Other income (loss).” To the extent the foreign currency exposure on these assets and liabilities is economically hedged or considered part of the Company’s capital funding strategies for its international subsidiaries, the change in value included in “Other income (loss)” is excluded from adjusted operating income. The insurance liabilities are supported by investments denominated in corresponding currencies, including a significant portion designated as available-for-sale. While these non-yen denominated assets and liabilities are economically hedged, unrealized gains (losses) on available-for-sale investments, including those arising from foreign currency exchange rate movements, are recorded in AOCI under U.S. GAAP, while the non-yen denominated liabilities are remeasured for foreign currency exchange rate movements, with the related change in value recorded in earnings within “Other income (loss).” Due to this non-economic volatility that has been reflected in U.S. GAAP earnings, the change in value recorded within “Other income (loss)” is excluded from adjusted operating income. Investment gains (losses) on assets supporting experience-rated contractholder liabilities and changes in experience-rated contractholder liabilities due to asset value changes. Certain products included in the Retirement and International Businesses segments are experience-rated in that investment results associated with these products are expected to ultimately accrue to contractholders. The majority of investments supporting these experience-rated products are carried at fair value, with realized and unrealized gains (losses) reported in “Other income (loss)” and the related interest and dividend income reported in “Net investment income.” To a lesser extent, these experience-rated products are also supported by derivatives and commercial mortgage and other loans. The derivatives are carried at fair value, with realized and unrealized gains (losses) reported in “Realized investment gains (losses), net.” The commercial mortgage and other loans are carried at unpaid principal, net of unamortized discounts and an allowance for losses, with gains (losses) on sales and changes in the valuation allowance for commercial mortgage and other loans reported in “Realized investment gains (losses), net.” Adjusted operating income excludes net investment gains (losses) on assets supporting experience-rated contractholder liabilities, related derivatives and commercial mortgage and other loans. This is consistent with the exclusion of realized investment gains (losses) with respect to other investments supporting insurance liabilities managed on a consistent basis. In addition, to be consistent with the historical treatment of charges related to realized investment gains (losses) on investments, adjusted operating income also excludes the change in contractholder liabilities due to asset value changes in the pool of investments (including changes in the fair value of commercial mortgage and other loans) supporting these experience-rated contracts, which are reflected in “Interest credited to policyholders’ account balances.” The result of this approach is that adjusted operating income for these products includes net fee revenue and interest spread we earn on these experience-rated contracts, and excludes changes in fair value of the pool of investments, both realized and unrealized, that we expect will ultimately accrue to the contractholders. Other Activities. The Company excludes certain other items from adjusted operating income that are consistent with similar adjustments described above. Charges related to realized investment gains (losses), net Charges that relate to realized investment gains (losses) are also excluded from adjusted operating income, and include the following: • The portion of the amortization of DAC, VOBA, unearned revenue reserves and DSI for certain products that is related to net realized investment gains (losses). • Policyholder dividends and interest credited to policyholders’ account balances that relate to certain life policies that pass back certain realized investment gains (losses) to the policyholder, and reserves for future policy benefits for certain policies that are affected by net realized investment gains (losses). • Market value adjustments paid or received upon a contractholder’s surrender of certain of the Company’s annuity products as these amounts mitigate the net realized investment gains or losses incurred upon the disposition of the underlying invested assets. Market experience updates The Company had historically recognized the immediate impacts from changes in current market conditions on estimates of profitability in current period adjusted operating income. Beginning with the second quarter of 2019 these impacts are excluded from adjusted operating income, which the Company believes enhances the understanding of underlying performance trends. These amounts represent the impact of those changes on DAC and other costs and reserves, primarily related to variable annuity and variable and universal life products. Divested and Run-off Businesses The contribution to income (loss) of Divested and Run-off Businesses that have been or will be sold or exited, including businesses that have been placed in wind down, but that did not qualify for “discontinued operations” accounting treatment under U.S. GAAP, are excluded from adjusted operating income as the results of Divested and Run-off Businesses are not considered relevant to understanding the Company’s ongoing operating results. The Closed Block division is accounted for as a divested business because it consists primarily of certain participating insurance and annuity products that the Company ceased selling at demutualization in 2001. See Note 15 for further information on the Closed Block. Other adjustments Other adjustments represent all other adjustments that are excluded from adjusted operating income. These include certain components of the consideration for the Assurance IQ acquisition, which are recognized as compensation expense over the requisite service periods, as well as changes in the fair value of contingent consideration. Equity in earnings of operating joint ventures and earnings attributable to noncontrolling interests Equity in earnings of operating joint ventures, on a pre-tax basis, are included in adjusted operating income as these results are a principal source of earnings. These earnings are reflected on a U.S. GAAP basis on an after-tax basis as a separate line on the Company’s Consolidated Statements of Operations. Earnings attributable to noncontrolling interests are excluded from adjusted operating income. Earnings attributable to noncontrolling interests represents the portion of earnings from consolidated entities that relates to the equity interests of minority investors, and are reflected on a U.S. GAAP basis as a separate line on the Company’s Consolidated Statements of Operations. Reconciliation of adjusted operating income and net income (loss) The table below reconciles adjusted operating income before income taxes to income before income taxes and equity in earnings of operating joint ventures: Year ended December 31, 2020 2019 2018 (in millions) Adjusted operating income before income taxes by segment: PGIM $ 1,262 $ 998 $ 959 U.S. Businesses: U.S. Workplace Solutions division: Retirement 1,436 1,301 1,049 Group Insurance (16) 285 229 Total U.S. Workplace Solutions division 1,420 1,586 1,278 U.S. Individual Solutions division: Individual Annuities(1) 1,470 1,843 1,925 Individual Life (48) 87 223 Total U.S. Individual Solutions division 1,422 1,930 2,148 Assurance IQ division(2): Assurance IQ (88) (9) 0 Total Assurance IQ division (88) (9) 0 Total U.S. Businesses 2,754 3,507 3,426 International Businesses(3) 2,952 3,112 3,019 Corporate and Other (1,824) (1,766) (1,283) Total segment adjusted operating income before income taxes 5,144 5,851 6,121 Reconciling Items(3): Realized investment gains (losses), net, and related adjustments(4) (4,156) (835) 611 Charges related to realized investment gains (losses), net (159) (123) (315) Market experience updates(5) (640) (449) 0 Divested and Run-off Businesses: Closed Block division (24) 36 (62) Other Divested and Run-off Businesses (629) 755 (1,434) Other adjustments(6) 51 (47) 0 Equity in earnings of operating joint ventures and earnings attributable to noncontrolling interests 90 (103) (87) Consolidated income (loss) before income taxes and equity in earnings of operating joint ventures $ (323) $ 5,085 $ 4,834 __________ (1) Individual Annuities segment results reflect DAC as if the Individual Annuities business is a stand-alone operation. The elimination of intersegment costs capitalized in accordance with this policy is included in consolidating adjustments within Corporate and Other operations. (2) Assurance IQ was acquired by the Company in October 2019. See Note 1 for additional information. (3) Effective second quarter of 2020, the results of POK and the impact of its sale are excluded from the International Businesses and are included in the Divested and Run-off Businesses in Corporate and Other. Effective third quarter of 2020, the results of POT and the impact of its anticipated sale are excluded from the International Businesses and are included in the Divested and Run-off Businesses in Corporate and Other. Prior period amounts have been updated to conform to current period presentation. See Note 1 for additional information. (4) Prior period amounts have been updated to conform to current period presentation. (5) Represents the immediate impacts in current period results from changes in current market conditions on estimates of profitability, which are excluded from adjusted operating income beginning with the second quarter of 2019. (6) Represents adjustments not included in the above reconciling items. “Other adjustments” include certain components of the consideration for the Assurance IQ acquisition, which are recognized as compensation expense over the requisite service periods, as well as changes in the fair value of contingent consideration. Reconciliation of select financial information The tables below present certain financial information for the Company’s segments and its Corporate and Other operations, including assets by segment and revenues, and benefits and expenses by segment on an adjusted operating income basis, and the reconciliation of the segment totals to amounts reported in the Consolidated Financial Statements. As of December 31, 2020 2019 (in millions) Assets by segment: PGIM $ 48,680 $ 47,655 U.S. Businesses: U.S. Workplace Solutions division: Retirement 213,726 198,153 Group Insurance 45,601 43,712 Total U.S. Workplace Solutions division 259,327 241,865 U.S. Individual Solutions division: Individual Annuities 200,718 189,040 Individual Life 110,953 96,072 Total U.S. Individual Solutions division 311,671 285,112 Assurance IQ division(1): Assurance IQ 2,703 2,639 Total Assurance IQ division 2,703 2,639 Total U.S. Businesses 573,701 529,616 International Businesses(2) 231,128 213,335 Corporate and Other(2) 25,124 44,619 Closed Block division 62,089 61,327 Total assets per Consolidated Statements of Financial Position $ 940,722 $ 896,552 __________ (1) Assurance IQ was acquired by the Company in October 2019. See Note 1 for additional information. (2) Effective second quarter of 2020, the carrying amount of assets of POK are excluded from the International Businesses and are included in the Divested and Run-off Businesses in Corporate and Other. Effective third quarter of 2020, the carrying amount of assets of POT are excluded from the International Businesses and are included in the Divested and Run-off Businesses in Corporate and Other. Prior period amounts have been updated to conform to current period presentation. See Note 1 for additional information. . Year Ended December 31, 2020 Revenues, and benefits and expenses on an adjusted operating income basis by segment Total Revenues Net Total Benefits and Expenses Policyholders’ Interest Dividends to Interest Amortization (in millions) PGIM $ 4,153 $ 304 $ 2,891 $ 0 $ 0 $ 0 $ 33 $ 8 U.S. Businesses: U.S. Workplace Solutions division: Retirement 12,034 4,707 10,598 8,010 1,470 0 23 26 Group Insurance 5,786 526 5,802 4,664 206 0 3 8 Total U.S. Workplace Solutions division 17,820 5,233 16,400 12,674 1,676 0 26 34 U.S. Individual Solutions division: Individual Annuities 4,440 898 2,970 337 337 0 59 524 Individual Life 6,398 2,314 6,446 3,170 848 36 769 367 Total U.S. Individual Solutions division 10,838 3,212 9,416 3,507 1,185 36 828 891 Assurance IQ division(1): Assurance IQ 391 2 479 0 0 0 5 0 Total Assurance IQ division 391 2 479 0 0 0 5 0 Total U.S. Businesses 29,049 8,447 26,295 16,181 2,861 36 859 925 International Businesses(2) 21,576 4,982 18,624 13,714 851 40 8 1,204 Corporate and Other(2) (629) 541 1,195 30 0 0 670 (49) Total revenues, and benefits and expenses on an adjusted operating income basis 54,149 14,274 49,005 29,925 3,712 76 1,570 2,088 Reconciling items: Realized investment gains (losses), net, and related adjustments (3,463) (35) 693 0 693 0 0 0 Charges related to realized investment gains (losses), net (134) 0 25 0 (58) 0 0 (116) Market experience updates(3) (196) 0 444 261 21 0 0 132 Divested and Run-off Businesses: Closed Block division 4,766 2,240 4,790 2,757 127 1,549 1 26 Other Divested and Run-off Businesses(2) 1,944 931 2,573 2,116 43 0 3 91 Other adjustments(4) 105 0 54 0 0 0 0 0 Equity in earnings of operating joint ventures and earnings attributable to noncontrolling interests (138) 0 (228) 0 0 0 0 0 Total revenue, and benefits and expenses per Consolidated Statements of Operations $ 57,033 $ 17,410 $ 57,356 $ 35,059 $ 4,538 $ 1,625 $ 1,574 $ 2,221 Year Ended December 31, 2019 Revenues, and benefits and expenses on an adjusted operating income basis by segment Total Revenues Net Total Benefits and Expenses Policyholders’ Interest Dividends to Interest Amortization (in millions) PGIM $ 3,589 $ 200 $ 2,591 $ 0 $ 0 $ 0 $ 49 $ 6 U.S. Businesses: U.S. Workplace Solutions division: Retirement 15,064 4,738 13,763 11,061 1,503 0 46 38 Group Insurance 5,750 624 5,465 4,257 286 0 2 7 Total U.S. Workplace Solutions division 20,814 5,362 19,228 15,318 1,789 0 48 45 U.S. Individual Solutions division: Individual Annuities 4,995 856 3,152 435 334 0 122 513 Individual Life 6,115 2,247 6,028 2,778 830 38 774 577 Total U.S. Individual Solutions division 11,110 3,103 9,180 3,213 1,164 38 896 1,090 Assurance IQ division(1): Assurance IQ 101 0 110 0 0 0 0 0 Total Assurance IQ division 101 0 110 0 0 0 0 0 Total U.S. Businesses 32,025 8,465 28,518 18,531 2,953 38 944 1,135 International Businesses(2) 20,936 4,944 17,824 12,925 876 46 25 1,116 Corporate and Other(2) (677) 579 1,089 36 0 0 521 (46) Total revenues, and benefits and expenses on an adjusted operating income basis 55,873 14,188 50,022 31,492 3,829 84 1,539 2,211 Reconciling items(2): Realized investment gains (losses), net, and related adjustments 114 (36) 949 0 949 0 0 0 Charges related to realized investment gains (losses), net (252) 0 (129) (136) (94) 0 0 (181) Market experience updates(3) (79) 0 370 191 4 0 0 139 Divested and Run-off Businesses: Closed Block division 5,642 2,323 5,606 2,907 130 2,187 7 29 Other Divested and Run-off Businesses 3,660 1,110 2,905 2,366 62 3 4 134 Other adjustments(4) (5) 0 42 0 0 0 0 0 Equity in earnings of operating joint ventures and earnings attributable to noncontrolling interests (146) 0 (43) 0 0 0 0 0 Total revenue, and benefits and expenses per Consolidated Statements of Operations $ 64,807 $ 17,585 $ 59,722 $ 36,820 $ 4,880 $ 2,274 $ 1,550 $ 2,332 Year Ended December 31, 2018 Revenues, and benefits and expenses on an adjusted operating income basis by segment Total Revenues Net Total Benefits and Expenses Policyholders’ Interest Dividends to Interest Amortization (in millions) PGIM $ 3,294 $ 73 $ 2,335 $ 0 $ 0 $ 0 $ 40 $ 8 U.S. Businesses: U.S. Workplace Solutions division: Retirement 16,825 4,377 15,776 13,215 1,430 0 35 33 Group Insurance 5,685 616 5,456 4,241 282 0 2 5 Total U.S. Workplace Solutions division 22,510 4,

Commitments and Contingent Liab

Commitments and Contingent Liabilities	12 Months Ended
	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingent Liabilities	COMMITMENTS AND CONTINGENT LIABILITIES Commitments and Guarantees Commercial Mortgage Loan Commitments December 31, 2020 2019 (in millions) Total outstanding mortgage loan commitments $ 2,357 $ 2,129 Portion of commitment where prearrangement to sell to investor exists $ 882 $ 751 In connection with the Company’s commercial mortgage operations, it originates commercial mortgage loans. Commitments for loans that will be held for sale are recognized as derivatives and recorded at fair value. In certain of these transactions, the Company pre-arranges that it will sell the loan to an investor, including to government sponsored entities as discussed below, after the Company funds the loan. The above amount includes unfunded commitments that are not unconditionally cancellable. For related credit exposure, there was an allowance for credit losses of $0 million as of December 31, 2020, which is a change of $(2) million for the year ended December 31, 2020. Commitments to Purchase Investments (excluding Commercial Mortgage Loans) December 31, 2020 2019 (in millions) Expected to be funded from the general account and other operations outside the separate accounts $ 9,567 $ 7,372 Expected to be funded from separate accounts $ 336 $ 49 The Company has other commitments to purchase or fund investments, some of which are contingent upon events or circumstances not under the Company’s control, including those at the discretion of the Company’s counterparties. The Company anticipates a portion of these commitments will ultimately be funded from its separate accounts. The above amount includes unfunded commitments that are not unconditionally cancellable. There were no related charges for credit losses for the year ended December 31, 2020. Indemnification of Securities Lending and Securities Repurchase Transactions December 31, 2020 2019 (in millions) Indemnification provided to certain clients for securities lending and securities repurchase transactions(1) $ 7,108 $ 5,071 Fair value of related collateral associated with above indemnifications(2) $ 7,254 $ 5,204 Accrued liability associated with guarantee $ 0 $ 0 __________ (1) Includes $34 million and $38 million related to securities repurchase transactions as of December 31, 2020 and 2019, respectively. (2) Includes $34 million and $37 million related to securities repurchase transactions as of December 31, 2020 and 2019, respectively. In the normal course of business, the Company may facilitate securities lending or securities repurchase transactions on behalf of certain client accounts (collectively, “the accounts”). In certain of these arrangements, the Company has provided an indemnification to the accounts to hold them harmless against losses caused by counterparty (i.e., borrower) defaults associated with such transactions facilitated by the Company. In securities lending transactions, collateral is provided by the counterparty to the accounts at the inception of the transaction in an amount at least equal to 102% of the fair value of the loaned securities and the collateral is maintained daily to equal at least 102% of the fair value of the loaned securities. In securities repurchase transactions, collateral is provided by the counterparty to the accounts at the inception of the transaction in an amount at least equal to 95% of the fair value of the securities subject to repurchase and the collateral is maintained daily to equal at least 95% of the fair value of the securities subject to repurchase. The Company is only at risk if the counterparty to the transaction defaults and the value of the collateral held is less than the value of the securities loaned to, or subject to repurchase from, such counterparty. The Company believes the possibility of any payments under these indemnities is remote. Credit Derivatives Written As discussed further in Note 5, the Company writes credit derivatives under which the Company is obligated to pay the counterparty the referenced amount of the contract and receive in return the defaulted security or similar security. Guarantees of Asset Values December 31, 2020 2019 (in millions) Guaranteed value of third parties’ assets $ 86,264 $ 80,009 Fair value of collateral supporting these assets $ 90,612 $ 81,604 Asset (liability) associated with guarantee, carried at fair value $ 0 $ 1 Certain contracts underwritten by the Retirement segment include guarantees related to financial assets owned by the guaranteed party. These contracts are accounted for as derivatives and carried at fair value. The collateral supporting these guarantees is not reflected on the Consolidated Statements of Financial Position. Indemnification of Serviced Mortgage Loans December 31, 2020 2019 (in millions) Maximum exposure under indemnification agreements for mortgage loans serviced by the Company $ 2,684 $ 2,113 First-loss exposure portion of above $ 784 $ 622 Accrued liability associated with guarantees(1) $ 41 $ 19 __________ (1) As of December 31, 2020, the accrued liability associated with guarantees includes an allowance for credit losses of $20 million, which is a change of $1 million for the year ended December 31, 2020. As part of the commercial mortgage activities of the Company’s PGIM segment, the Company provides commercial mortgage origination, underwriting and servicing for certain government sponsored entities, such as Fannie Mae and Freddie Mac. The Company has agreed to indemnify the government sponsored entities for a portion of the credit risk associated with certain of the mortgages it services through a delegated authority arrangement. Under these arrangements, the Company originates multi-family mortgages for sale to the government sponsored entities based on underwriting standards they specify, and makes payments to them for a specified percentage share of losses they incur on certain loans serviced by the Company. The Company’s percentage share of losses incurred generally varies from 4% to 20% of the loan balance, and is typically based on a first-loss exposure for a stated percentage of the loan balance, plus a shared exposure with the government sponsored entity for any losses in excess of the stated first-loss percentage, subject to a contractually specified maximum percentage. The Company determines the liability related to this exposure using historical loss experience, and the size and remaining life of the asset. The Company serviced $21,465 million and $16,878 million of mortgages subject to these loss-sharing arrangements as of December 31, 2020 and 2019, respectively, all of which are collateralized by first priority liens on the underlying multi-family residential properties. As of December 31, 2020, these mortgages had a weighted-average debt service coverage ratio of 1.99 times and a weighted-average loan-to-value ratio of 63%. As of December 31, 2019, these mortgages had a weighted-average debt service coverage ratio of 1.88 times and a weighted-average loan-to-value ratio of 61%. The Company had no losses related to indemnifications that were settled for the years ended December 31, 2020, 2019, and 2018. Other Guarantees December 31, 2020 2019 (in millions) Other guarantees where amount can be determined $ 52 $ 55 Accrued liability for other guarantees and indemnifications $ 0 $ 0 The Company is also subject to other financial guarantees and indemnity arrangements. The Company has provided indemnities and guarantees related to acquisitions, dispositions, investments and other transactions that are triggered by, among other things, breaches of representations, warranties or covenants provided by the Company. These obligations are typically subject to various time limitations, defined by the contract or by operation of law, such as statutes of limitation. In some cases, the maximum potential obligation is subject to contractual limitations, while in other cases such limitations are not specified or applicable. Included above are $9 million and $12 million as of December 31, 2020 and 2019, respectively, of yield maintenance guarantees related to certain investments the Company sold. The Company does not expect to make any payments on these guarantees and is not carrying any liabilities associated with these guarantees. Since certain of these obligations are not subject to limitations, it is not possible to determine the maximum potential amount due under these guarantees. The accrued liabilities identified above do not include retained liabilities associated with sold businesses. Insolvency Assessments Most of the jurisdictions in which the Company is admitted to transact business require insurers doing business within the jurisdiction to participate in guarantee associations, which are organized to pay contractual benefits owed pursuant to insurance policies issued by impaired, insolvent or failed insurers. These associations levy assessments, up to prescribed limits, on all member insurers in a particular state on the basis of the proportionate share of the premiums written by member insurers in the lines of business in which the impaired, insolvent or failed insurer engaged. Some states permit member insurers to recover assessments paid through full or partial premium tax offsets. In addition, Japan has established the Japan Policyholders Protection Corporation as a contingency to protect policyholders against the insolvency of life insurance companies in Japan through assessments to companies licensed to provide life insurance. Assets and liabilities held for insolvency assessments were as follows: December 31, 2020 2019 (in millions) Other assets: Premium tax offset for future undiscounted assessments $ 44 $ 48 Premium tax offset currently available for paid assessments 3 3 Total $ 47 $ 51 Other liabilities: Insolvency assessments $ 36 $ 37 Contingent Liabilities On an ongoing basis, the Company and its regulators review its operations including, but not limited to, sales and other customer interface procedures and practices, and procedures for meeting obligations to its customers and other parties. These reviews may result in the modification or enhancement of processes or the imposition of other action plans, including concerning management oversight, sales and other customer interface procedures and practices, and the timing or computation of payments to customers and other parties. In certain cases, if appropriate, the Company may offer customers or other parties remediation and may incur charges, including the cost of such remediation, administrative costs and regulatory fines. The Company is subject to the laws and regulations of states and other jurisdictions concerning the identification, reporting and escheatment of unclaimed or abandoned funds, and is subject to audit and examination for compliance with these requirements. For additional discussion of these matters, see “—Litigation and Regulatory Matters” below. It is possible that the results of operations or the cash flow of the Company in a particular quarterly or annual period could be materially affected as a result of payments in connection with the matters discussed above or other matters depending, in part, upon the results of operations or cash flow for such period. Management believes, however, that ultimate payments in connection with these matters, after consideration of applicable reserves and rights to indemnification, should not have a material adverse effect on the Company’s financial position. Litigation and Regulatory Matters The Company is subject to legal and regulatory actions in the ordinary course of its businesses. Pending legal and regulatory actions include proceedings relating to aspects of the Company’s businesses and operations that are specific to it and proceedings that are typical of the businesses in which it operates, including in both cases businesses that have been either divested or placed in wind down status. Some of these proceedings have been brought on behalf of various alleged classes of complainants. In certain of these matters, the plaintiffs are seeking large and/or indeterminate amounts, including punitive or exemplary damages. The outcome of litigation or a regulatory matter, and the amount or range of potential loss at any particular time, is often inherently uncertain. The Company establishes accruals for litigation and regulatory matters when it is probable that a loss has been incurred and the amount of that loss can be reasonably estimated. For litigation and regulatory matters where a loss may be reasonably possible, but not probable, or is probable but not reasonably estimable, no accrual is established but the matter, if potentially material, is disclosed, including matters discussed below. The Company estimates that as of December 31, 2020, the aggregate range of reasonably possible losses in excess of accruals established for those litigation and regulatory matters for which such an estimate currently can be made is less than $250 million. Any estimate is not an indication of expected loss, if any, or the Company’s maximum possible loss exposure on such matters. The Company reviews relevant information with respect to its litigation and regulatory matters on a quarterly and annual basis and updates its accruals, disclosures and estimates of reasonably possible loss based on such reviews. Labor and Employment Matters Prudential of Brazil Labor and Employment Matters Prudential of Brazil (“POB”) sells insurance products to consumers through life planner franchisees (“Life Planners”), who are engaged as independent life insurance brokers and not as employees. When a Life Planner’s contractual relationship with POB is terminated, in many cases the Life Planner commences a labor suit against POB alleging entitlement to employment related benefits. POB is a defendant in numerous such lawsuits in Brazil brought by former Life Planners and has been subject to regulatory actions challenging the validity of POB’s franchise model. POB has continued to receive additional labor suits and regulatory actions involving the operation of its franchise model notwithstanding steps that POB has taken to attempt to mitigate the labor risk by modifying its franchise model. POB continues to modify its franchise model to further mitigate this risk. Individual Annuities, Individual Life and Group Insurance Broderick v. The Prudential Insurance Company of America, et al. In December 2016, a complaint entitled Julie Han Broderick, Darron Smith and Thomas Schreck v. The Prudential Insurance Company of America, et al., was filed in the Superior Court of New Jersey, Law Division - Essex County. The complaint: (i) alleges that defendants terminated plaintiffs’ employment for engaging in whistleblowing conduct involving the sale of MyTerm policies through Wells Fargo and violated New Jersey’s Conscientious Employee Protection Act; and (ii) seeks back and front pay, compensatory and punitive damages and attorneys’ fees and costs. In January 2017, defendants filed an answer to the complaint. In December 2019, the court granted the Company’s summary judgment motion and dismissed the complaint. In September 2020, the parties filed a Joint Stipulation of Dismissal with Prejudice. This matter is now closed. Behfarin v. Pruco Life In July 2017, a putative class action complaint entitled Richard Behfarin v. Pruco Life Insurance Company was filed in the United States District Court for the Central District of California, alleging that the Company imposes charges on owners of universal life policies to cure defaults and/or reinstate lapses, that are inconsistent with the applicable universal life policy. The complaint includes claims for breach of contract, breach of implied covenant of good faith and fair dealing, and violation of California law, and seeks unspecified damages along with declaratory and injunctive relief. In September 2017, the Company filed its answer to the complaint. In September 2018, plaintiff filed a motion for class certification. In October 2019, plaintiff filed: (1) the First Amended Complaint adding Prudential Insurance Company of America and Pruco Life Insurance Company of New Jersey as defendants; and (2) a motion seeking preliminary certification of a settlement class, appointment of a class representative and class counsel, and preliminary approval of the proposed class action settlement. In November 2019, the court issued an order granting the motion for preliminary approval of the settlement. In June 2020, the court issued an order: (i) granting plaintiffs’ motion for certification of the settlement class; (ii) approving the proposed nationwide class settlement agreement; (iii) approving the class notice; (iv) awarding attorneys’ fees and costs to plaintiffs and a reduced incentive award to Behfarin; and (v) dismissing the action with prejudice, but maintaining jurisdiction over the settlement. Escheatment Litigation Total Asset Recovery Services, LLC v. MetLife, Inc., et al., Prudential Financial, Inc., The Prudential Insurance Company of America, and Prudential Insurance Agency, LLC In December 2017, Total Asset Recovery Services, LLC, on behalf of the State of New York, filed a Second Amended Complaint in the Supreme Court of the State of New York, County of New York, against, among other 19 defendants, Prudential Financial, Inc., The Prudential Insurance Company of America and Prudential Insurance Agency, LLC, alleging that the Company failed to escheat life insurance proceeds in violation of the New York False Claims Act. The second amended complaint seeks injunctive relief, compensatory damages, civil penalties, treble damages, prejudgment interest, attorneys’ fees and costs. In May 2018, defendants filed a motion to dismiss the Second Amended Complaint. In April 2019, defendants’ motion to dismiss the Second Amended Complaint was granted and plaintiff subsequently filed a Notice of Appeal with the New York State Supreme Court, First Department. In December 2020, the New York Supreme Court, First Department, reversed and vacated the judgment of the trial court and granted leave to plaintiff to file a third amended complaint. Securities Litigation City of Warren v. PFI, et al. In November 2019, a putative class action complaint entitled City of Warren Police and Fire Retirement System v. Prudential Financial, Inc., Charles F. Lowrey and Kenneth Y. Tanji, was filed in the United States District Court for the District of New Jersey. The complaint asserts claims for federal securities law violations against PFI, and Charles Lowrey, PFI’s chief executive officer, and Kenneth Tanji, PFI’s chief financial officer, individually, and alleges that: (i) the Company's reserve assumptions failed to account for adversely developing mortality experience in the Individual Life business segment; (ii) the Company's reserves were insufficient to satisfy its future policy benefit liabilities; and (iii) the Company materially understated its liabilities and overstated net income due to flawed assumptions in calculating mortality experience. The putative class includes all purchasers of PFI common stock between February 15, 2019 and August 2, 2019. In March 2020, the court issued an order consolidating this action with Donald P. Crawford v. PFI, et al. under the caption In re Prudential Financial, Inc. Securities Litigation . In June 2020, plaintiffs filed an amended complaint and added Robert M. Falzon, PFI’s vice chairman, as an individual defendant. In August 2020, the Company filed a motion to dismiss the amended complaint. In December 2020, the court issued an order granting defendants’ motion to dismiss the amended complaint with prejudice and plaintiff subsequently filed, in January 2021, a Notice of Appeal to the United States Court of Appeals for the Third Circuit. Donald P. Crawford v. PFI, et al. In January 2020, a putative class action complaint entitled David P. Crawford v. Prudential Financial, Charles F. Lowrey and Kenneth Tanji, was filed in the United States District Court for the District of New Jersey. The complaint asserts claims for federal securities law violations against PFI, and Charles Lowrey and Kenneth Tanji, individually, and alleges that: (i) the Company’s reserve assumptions failed to account for adversely developing mortality experience in the Individual Life business segment; (ii) the Company’s reserves were insufficient to satisfy its future policy benefit liabilities; and (iii) the Company materially understated its liabilities and overstated net income due to flawed assumptions in calculating mortality experience. The putative class includes all purchasers of PFI common stock between February 15, 2019 and August 2, 2019. In March 2020, the court issued an order consolidating this action with City of Warren v. PFI, et al. under the caption In re Prudential Financial, Inc. Securities Litigation. Case updates are consolidated with the City of Warren action. Donel Davidson v. Charles F. Lowrey, et al. In September 2020, a shareholder derivative complaint entitled Pekin Police Pension Fund, Derivatively on Behalf of Prudential Financial, Inc. v. Charles F. Lowrey, et al ., was filed in the United States District Court for the District of New Jersey (the “Derivative Complaint”) against PFI as a “nominal” defendant, PFI’s chairman and chief executive officer, vice chairman, chief financial officer, certain former officers of PFI, and all of the current outside directors of PFI’s Board. The Derivative Complaint asserts claims for federal securities law violations, breach of fiduciary duty, waste of corporate assets, and unjust enrichment, and alleges that: (i) the Company's reserve assumptions failed to account for adversely developing mortality experience in the Individual Life business segment; (ii) the Company's reserves were insufficient to satisfy its future policy benefit liabilities; (iii) the Company materially understated its liabilities and overstated net income due to flawed assumptions in calculating mortality experience; and (iv) the individual defendants breached their duty of care and loyalty to the Company by allowing the alleged improper activity. In December 2020, the Court issued an order substituting Donel Davidson for Pekin Police Pension Fund as the named plaintiff. Daniel Plaut v. Prudential Financial, Inc. In October 2020, a shareholder derivative complaint entitled Daniel Plaut, Derivatively on Behalf of Prudential Financial, Inc. v. Charles F. Lowrey, et al ., was filed in the Superior Court of New Jersey, Law Division, Essex County (the “Derivative Complaint”) against PFI as a “nominal” defendant, PFI’s chairman and chief executive officer, vice chairman, and all of the current outside directors of PFI’s Board. The Derivative Complaint asserts claims for breach of fiduciary duty, unjust enrichment, and abuse of control and alleges that: (i) the Company's reserve assumptions failed to account for adversely developing mortality experience in the Individual Life business segment; (ii) the Company's reserves were insufficient to satisfy its future policy benefit liabilities; (iii) the Company materially understated its liabilities and overstated net income due to flawed assumptions in calculating mortality experience; and (iv) the individual defendants engaged in corporate misconduct, mismanagement and waste through their participation in the alleged wrongdoing. Robert Lalor v. Charles F. Lowrey, et al. In November 2020, a verified shareholder derivative complaint entitled Robert Lalor, derivatively on behalf of Prudential Financial, Inc. v. Charles F. Lowrey, et al ., was filed in the United States District Court for the District of New Jersey (the “Derivative Complaint”) against PFI as a “nominal” defendant, PFI’s chairman and chief executive officer, vice chairman, chief financial officer, certain former officers of PFI, and all of the current outside directors of PFI’s Board. The Derivative Complaint asserts claims for federal securities law violations, breach of fiduciary duty, waste of corporate assets, and unjust enrichment, and alleges that: (i) the Company's reserve assumptions failed to account for adversely developing mortality experience in the Individual Life business segment; (ii) the Company's reserves were insufficient to satisfy its future policy benefit liabilities; (iii) the Company materially understated its liabilities and overstated net income due to flawed assumptions in calculating mortality experience; and (iv) the individual defendants had irreconcilable conflicts of interest and breached their duties of candor, loyalty, oversight and supervision. Shareholder Demands In January 2020, the Board of Directors received a shareholder demand letter containing allegations: (i) of wrongdoing similar to those alleged in the City of Warren and Crawford complaints; and (ii) that certain of the Company’s current and former directors and executive officers breached their fiduciary duties of loyalty, due care and candor. The demand letter requests that the Board of Directors investigate and commence legal proceedings against the named individuals to recover for the Company’s benefit the damages purportedly sustained by the Company as a result of the alleged breaches. In February 2020, the Board of Directors authorized the creation of a special committee to investigate the allegations set forth in the shareholder demand letter. In April 2020, the Company received additional shareholder demands raising allegations similar to those contained in the January 2020 demand, and may be subject prospectively to additional activity relating to these matters. In January 2021, the special committee completed its investigation, and in February 2021, the Board provided notice rejecting the shareholder demands and dissolved the special committee. Other Matters Cho v. PICA, et al. In November 2019, a putative class action complaint entitled Cho v. The Prudential Insurance Company of America, et. al ., was filed in the United States District Court for the District of New Jersey. The Complaint purports to be brought on behalf of participants in the Prudential Employee Savings Plan (the “Plan”) and (i) alleges that Defendants failed to fulfill their fiduciary obligations under the Employee Retirement Income Security Act of 1974, in the administration, management and operation of the Plan, including engaging in prohibited transactions; and (ii) seeks declaratory, injunctive and equitable relief, and unspecified damages including interest, attorneys’ fees and costs. In January 2020, defendants filed a motion to dismiss the complaint. In September 2020, plaintiff filed an amended complaint and added as individual defendants certain PFI officers and current and former members of the Company’s Administrative Committee and Investment Oversight Committee. In December 2020, defendants filed a motion to dismiss the amended complaint. Doyle C. Stone v. PFI, et al. In February 2021, a putative class action complaint entitled Doyle C. Stone v. Prudential Financial, Inc., Pruco Life Insurance Company, was filed in the United States District Court for the District of New Jersey. The complaint asserts claims against Prudential Financial, Inc. and Pruco Life Insurance Company for violation of the New Jersey Consumer Fraud Act, breach of contract, breach of fiduciary duty, breach of implied duty of good faith and fair dealing, misrepresentation and unjust enrichment, based on: (i) the Company’s alleged deficient identification, notification and payment practices for retirement plan participants in transferred group retirement, annuity and insurance plans (“Plan Participants”); and (ii) improper transfer of Plan Participant funds to its own accounts. The putative class includes all Plan Participants from January 2015 to the present. LIBOR Litigation Prudential Investment Portfolios 2, f/k/a Dryden Core Investment Fund, o/b/o Prudential Core Short-Term Bond Fund and Prudential Core Taxable Money Market Fund v. Bank of America Corporation, et al. In May 2014, Prudential Investment Portfolios 2, on behalf of the Prudential Core Short-Term Bond Fund and the Prudential Core Taxable Money Market Fund (the “Funds”), filed an action against ten banks in the United States District Court for the District of New Jersey asserting that the banks participated in the setting of LIBOR, a major benchmark interest rate. The complaint alleges that the defendant banks manipulated LIBOR, and asserts, among other things, claims for common law fraud, negligent misrepresentation, breach of contract, intentional interference with contract and with prospective economic relations, unjust enrichment, breaches of the New Jersey Civil RICO (“Racketeer Influenced and Corrupt Organizations Act”) statute, and violations of the Sherman Act. In June 2014, the United States Judicial Panel on Multidistrict Litigation transferred the action to the United States District Court for the Southern District of New York, where it has been consolidated for pre-trial purposes with other pending LIBOR-related actions. In October 2014, the Funds filed an amended complaint. In November 2014, the defendants filed a motion to dismiss the amended complaint. In August 2015, the court issued a decision granting in part, and denying in part, defendants' motions to dismiss. The court dismissed certain of the Funds' claims, including those alleging fraud based on offering material statements; New Jersey RICO; and express breach of contract. The court upheld certain of the Funds' claims, including those alleging fraud based on false LIBOR submissions to the British Bankers’ Association; negligent misrepresentation; unjust enrichment; and breach of the implied covenant of good faith and fair dealing. Following the August 2015 decision, granting in part defendants' motions to dismiss, in September 2015, Prudential filed the following LIBOR complaints: (i) in the Southern District of New York, captioned Prudential Investment Portfolios 2 et al. v. Barclays Bank PLC, et al. (the “New York Complaint”), naming as defendants Barclays Bank PLC, Barclays Capital Inc., Barclays PLC, Citibank, N.A., Citigroup Funding Inc., Credit Suisse AG, Credit Suisse Group AG, Credit Suisse (USA) Inc., Deutsche Bank AG, HSBC Bank plc, HSBC Holdings PLC, JPMorgan Chase & Co., JPMorgan Chase Bank, N.A., Royal Bank of Canada, and The Royal Bank of Scotland PLC. These defendants were dismissed from the original LIBOR action on jurisdictional grounds. The New York complaint reasserts the causes of action brought in the original LIBOR action; and (ii) in the Western district of North Carolina, captioned Prudential Investment Portfolios 2 et al. v. Bank of America Corporation et al . (the “North Carolina Complaint”), naming as defendants Bank of America Corporation and Bank of America, N.A. These defendants were dismissed from the original LIBOR action on jurisdictional grounds. The North Carolina Complaint reasserts the causes of action brought in the original LIBOR action. Both the New York Complaint and the North Carolina Complaint have been transferred for pre-trial purposes to the LIBOR multi-district litigation presided over by Judge Buchwald in the U.S. District Court for the Southern District of New York. In May 2016, the Second Circuit Court of Appeals vacated the district court’s dismissal of the LIBOR plaintiffs’ antitrust claims and remanded to the district court the question of whether plaintiffs possess standing as “efficient enforcers” of applicable antitrust laws. In July 2016, defendants filed a joint motion to dismiss all antitrust claims based on lack of standing and lack of personal jurisdiction. In December 2016, the motion was granted in part and denied in part. In January 2017, the United States Supreme Court denied defendants’ petition for certiorari. In February 2017, the court clarified its December 2016 order, holding that antitrust claims only exist against panel banks, not their affiliates. This clarification resulted in the Funds’ New Jersey antitrust claims being dismissed for lack of personal jurisdiction. The Funds antitrust claims in the New York and North Carolina actions remain pending. In July 2017, the Funds obtained an entry of judgment on the New Jersey antitrust claims dismissed on personal jurisdiction grounds. In July 2017, the Funds filed with the Second Circuit Court an appeal from the dismissal of their New Jersey anti-trust claims. In June 2019, the court issued two orders approving stipulations dismissing with prejudice Prudential’s claims against Citigroup Inc., Citibank, N.A., Citigroup Funding Inc., and Citigroup Global Markets Inc. In December 2019, the court

Quarterly Results of Operations

Quarterly Results of Operations (Unaudited)	12 Months Ended
	Dec. 31, 2020
Quarterly Financial Data [Abstract]
Quarterly Results of Operations (Unaudited)	QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) The unaudited quarterly results of operations for the years ended December 31, 2020 and 2019 are summarized in the table below: Three Months Ended March 31 June 30 September 30 December 31 (in millions, except per share amounts) 2020 Total revenues $ 13,464 $ 12,115 $ 15,425 $ 16,029 Total benefits and expenses 13,802 14,447 13,978 15,129 Net income (loss) (270) (2,405) 1,507 1,022 Less: Income attributable to noncontrolling interests 1 4 20 203 Net income (loss) attributable to Prudential Financial, Inc. $ (271) $ (2,409) $ 1,487 $ 819 Basic earnings per share—Common Stock(1): Net income (loss) attributable to Prudential Financial, Inc. $ (0.70) $ (6.12) $ 3.72 $ 2.04 Diluted earnings per share—Common Stock(1): Net income (loss) attributable to Prudential Financial, Inc. $ (0.70) $ (6.12) $ 3.70 $ 2.03 2019 Total revenues $ 15,091 $ 15,388 $ 15,105 $ 19,223 Total benefits and expenses 13,951 14,512 13,380 17,879 Net income (loss) 937 738 1,425 1,138 Less: Income attributable to noncontrolling interests 5 30 7 10 Net income (loss) attributable to Prudential Financial, Inc. $ 932 $ 708 $ 1,418 $ 1,128 Basic earnings per share—Common Stock(1): Net income (loss) attributable to Prudential Financial, Inc. $ 2.25 $ 1.73 $ 3.47 $ 2.78 Diluted earnings per share—Common Stock(1): Net income (loss) attributable to Prudential Financial, Inc. $ 2.22 $ 1.71 $ 3.44 $ 2.76 __________ (1) Quarterly earnings per share amounts may not add to the full year amounts due to the averaging of shares.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2020
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS Common Stock Dividend Declaration On February 4, 2021, Prudential Financial’s Board of Directors declared a cash dividend of $1.15 per share of Common Stock, payable on March 11, 2021 to shareholders of record as of February 16, 2021. Shareholder Distributions On February 4, 2021, Prudential Financial’s Board of Directors authorized the Company to repurchase, at management’s discretion, up to $1.5 billion of its outstanding Common Stock during the period from January 1, 2021 through December 31, 2021.

Schedule I - Summary of Investm

Schedule I - Summary of Investments Other Than investments in Related Parties Schedule I - Summary of Investments Other Than Investments In Related Parties	12 Months Ended
	Dec. 31, 2020
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Abstract]
Schedule I - Summary of Investments Other Than Investments In Related Parties	PRUDENTIAL FINANCIAL, INC. Schedule I Summary of Investments Other Than Investments in Related Parties As of December 31, 2020 (in millions) Type of Investment Amortized Cost or Cost(1) Fair Amount Fixed maturities, available-for-sale: Bonds: U.S. Treasury securities and obligations of U.S. government authorities and agencies $ 30,766 $ 40,448 $ 40,448 Obligations of U.S. states and their political subdivisions 10,668 12,811 12,811 Foreign governments 94,110 110,244 110,244 Asset-backed securities 14,489 14,591 14,591 Residential mortgage-backed securities 2,683 2,887 2,887 Commercial mortgage-backed securities 15,036 16,303 16,303 Public utilities 28,067 33,275 33,275 All other corporate bonds 158,212 181,821 181,821 Redeemable preferred stock 439 525 525 Total fixed maturities, available-for-sale $ 354,470 $ 412,905 $ 412,905 Fixed maturities, held-to-maturity: Bonds: Foreign governments $ 935 $ 1,205 $ 935 Residential mortgage-backed securities 266 286 266 All other corporate bonds 738 807 729 Total fixed maturities, held-to-maturity $ 1,939 $ 2,298 $ 1,930 Equity securities: Common stocks: Other common stocks $ 3,722 $ 5,371 $ 5,371 Mutual funds 2,003 2,456 2,456 Nonredeemable preferred stocks 60 76 76 Perpetual preferred stocks 183 232 232 Total equity securities, at fair value $ 5,968 $ 8,135 $ 8,135 Fixed maturities, trading $ 3,670 $ 3,914 $ 3,914 Assets supporting experience-rated contractholder liabilities 24,115 24,115 Commercial mortgage and other loans(2) 65,425 65,425 Policy loans 11,271 11,271 Short-term investments 7,800 7,800 Other invested assets 18,125 18,125 Total investments $ 492,783 $ 553,620 __________ (1) See Note 3 to the Consolidated Financial Statements for the composition of the Company’s “Assets supporting experience-rated contractholder liabilities, at fair value.” (2) Includes collateralized commercial mortgage and other loans of $64,775 million and uncollateralized loans of $650 million.

Schedule II - Condensed Financi

Schedule II - Condensed Financial Information of Registrant	12 Months Ended
	Dec. 31, 2020
Condensed Financial Information Disclosure [Abstract]
Schedule II - Condensed Financial Information of Registrant	PRUDENTIAL FINANCIAL, INC. Schedule II Condensed Financial Information of Registrant Condensed Statements of Financial Positions as of December 31, 2020 and 2019 (in millions) 2020 2019 ASSETS Investment contracts from subsidiaries $ 1 $ 1 Fixed maturities, available for sale, at fair value (amortized cost: 2020- $1,529; 2019- $1,643) 1,648 1,697 Equity securities, at fair value (cost: 2020- $25; 2019- $25) 25 25 Other invested assets 3,876 2,326 Total investments 5,550 4,049 Cash and cash equivalents 1,062 1,162 Due from subsidiaries 2,023 1,670 Loans receivable from subsidiaries 8,027 7,151 Investment in subsidiaries 78,345 76,101 Property, plant and equipment 446 471 Income taxes receivable 467 540 Other assets 116 101 TOTAL ASSETS $ 96,036 $ 91,245 LIABILITIES AND EQUITY LIABILITIES Due to subsidiaries $ 3,290 $ 2,560 Loans payable to subsidiaries 5,526 6,110 Short-term debt 424 1,204 Long-term debt 18,561 17,430 Other liabilities 810 826 Total liabilities 28,611 28,130 EQUITY Preferred Stock ($0.01 par value; 10,000,000 shares authorized; none issued) 0 0 Common Stock ($0.01 par value; 1,500,000,000 shares authorized; 666,305,189 shares issued as of December 31, 2020 and December 31, 2019) 6 6 Additional paid-in capital 25,584 25,532 Common Stock held in treasury, at cost (269,867,738 and 267,472,781 shares as of December 31, 2020 and 2019, respectively) (19,652) (19,453) Accumulated other comprehensive income (loss) 30,738 24,039 Retained earnings 30,749 32,991 Total equity 67,425 63,115 TOTAL LIABILITIES AND EQUITY $ 96,036 $ 91,245 See Notes to Condensed Financial Information of Registrant PRUDENTIAL FINANCIAL, INC. Schedule II Condensed Financial Information of Registrant Condensed Statements of Operations for the Years Ended December 31, 2020, 2019 and 2018 (in millions) 2020 2019 2018 REVENUES Net investment income $ 97 $ 203 $ 168 Realized investment gains (losses), net (262) (250) 106 Affiliated interest revenue 345 362 374 Other income (loss) 110 21 (7) Total revenues 290 336 641 EXPENSES General and administrative expenses 273 92 126 Interest expense 1,157 1,161 1,087 Total expenses 1,430 1,253 1,213 INCOME (LOSS) BEFORE INCOME TAXES AND EQUITY IN EARNINGS OF SUBSIDIARIES (1,140) (917) (572) Total income tax expense (benefit) (357) (223) (130) INCOME (LOSS) BEFORE EQUITY IN EARNINGS OF SUBSIDIARIES (783) (694) (442) Equity in earnings of subsidiaries 409 4,880 4,516 NET INCOME (LOSS) $ (374) $ 4,186 $ 4,074 Other Comprehensive Income (loss) 6,699 13,126 (6,974) TOTAL COMPREHENSIVE INCOME (LOSS) $ 6,325 $ 17,312 $ (2,900) See Notes to Condensed Financial Information of Registrant PRUDENTIAL FINANCIAL, INC. Schedule II Condensed Financial Information of Registrant Condensed Statements of Cash Flows for the Years Ended December 31, 2020, 2019 and 2018 (in millions) 2020 2019 2018 CASH FLOWS FROM OPERATING ACTIVITIES Net income (loss) $ (374) $ 4,186 $ 4,074 Adjustments to reconcile net income to cash provided by operating activities: Equity in earnings of subsidiaries (409) (4,880) (4,516) Realized investment (gains) losses, net 262 250 (106) Dividends received from subsidiaries 4,042 2,269 2,975 Property, plant and equipment (1) 0 (4) Change in: Due to/from subsidiaries, net 649 669 (1) Other, operating 359 (229) 115 Cash flows from (used in) operating activities(1) 4,528 2,265 2,537 CASH FLOWS FROM INVESTING ACTIVITIES Proceeds from the sale/maturity of: Fixed maturities, available-for-sale 412 371 234 Short-term investments 18,489 21,700 18,708 Payments for the purchase of: Equity securities, at fair value 0 0 (25) Fixed maturities, available for sale (298) (660) (370) Short-term investments (20,039) (20,486) (19,914) Capital contributions to subsidiaries (386) (593) (874) Returns of capital contributions from subsidiaries 813 1,013 1,083 Acquisition of Assurance IQ 0 (1,758) 0 Loans to subsidiaries, net of maturities (876) (108) 803 Other, investing 0 0 0 Cash flows from (used in) investing activities (1,885) (521) (355) CASH FLOWS FROM FINANCING ACTIVITIES Cash dividends paid on Common Stock (1,766) (1,641) (1,521) Common Stock acquired (500) (2,500) (1,500) Common Stock reissued for exercise of stock options 153 133 132 Proceeds from the issuance of debt (maturities longer than 90 days) 2,768 2,465 2,531 Repayments of debt (maturities longer than 90 days) (2,467) (1,114) (1,443) Repayments of loans from subsidiaries (1,023) (7) (728) Proceeds from loans payable to subsidiaries 166 818 99 Net change in financing arrangements (maturities of 90 days or less) 0 9 (36) Other, financing(1) (74) (72) (66) Cash flows from (used in) financing activities(1) (2,743) (1,909) (2,532) NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (100) (165) (350) CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 1,162 1,327 1,677 CASH AND CASH EQUIVALENTS, END OF YEAR $ 1,062 $ 1,162 $ 1,327 SUPPLEMENTAL CASH FLOW INFORMATION Cash paid during the period for interest $ 1,088 $ 1,084 $ 1,014 Cash paid (refunds received) during the period for taxes $ (482) $ (103) $ (231) NON-CASH TRANSACTIONS DURING THE YEAR Non-cash capital contributions to subsidiaries $ (1) $ (596) $ (22) Non-cash dividends/returns of capital from subsidiaries $ 470 $ 1 $ 101 Treasury Stock shares issued for stock-based compensation programs $ 0 $ 197 $ 138 Acquisitions: Assets Acquired $ 0 $ 2,428 $ 0 Liabilities assumed 0 216 0 Treasury Stock shares issued 0 454 0 Net cash paid on acquisition $ 0 $ 1,758 $ 0 See Notes to Condensed Financial Information of Registrant PRUDENTIAL FINANCIAL, INC. Schedule II Condensed Financial Information of Registrant Notes to Condensed Financial Information of Registrant 1. ORGANIZATION AND PRESENTATION Prudential Financial, Inc. (“Prudential Financial”) was incorporated on December 28, 1999, as a wholly-owned subsidiary of The Prudential Insurance Company of America (“PICA”). On December 18, 2001, PICA converted from a mutual life insurance company to a stock life insurance company and became an indirect, wholly-owned subsidiary of Prudential Financial. The condensed financial information of Prudential Financial, Inc. (the “Parent Company”) should be read in conjunction with the consolidated financial statements of Prudential Financial, Inc. and its subsidiaries and the notes thereto (the “Consolidated Financial Statements”). The condensed financial statements of Prudential Financial reflect its direct wholly-owned subsidiaries using the equity method of accounting. In October 2019, the Company completed the acquisition of Assurance IQ, Inc. (“Assurance IQ”), a leading consumer solutions platform that offers a range of solutions that help meet consumers’ financial needs, for approximately $1,758 million in cash, net of transaction expenses, and restricted Prudential Financial Common Stock and equity awards with a market value of approximately $454 million as of the closing date. Assurance IQ is reported as a wholly-owned subsidiary of Prudential. In August 2020, Prudential International Insurance Holding, Ltd. (“PIIH”), a subsidiary of Prudential Financial, successfully completed the sale of the Prudential Life Company of Korea, Ltd. (“POK”) to KB Financial Group Inc., for cash consideration of approximately ₩2.3 trillion, equal to approximately $1.9 billion. The Company recognized an approximate $800 million after-tax loss on the transaction in 2020. 2. OTHER INVESTMENTS Prudential Financial’s other investments as of December 31, 2020 and 2019 consisted primarily of highly liquid debt investments and intercompany enterprise liquidity account funds. 3. DEBT A summary of Prudential Financial’s short- and long-term debt is as follows: December 31, Maturity Rate(1) 2020 2019 ($ in millions) Short-term debt: Commercial paper(2) $ 25 $ 25 Current portion of long-term debt 399 1,179 Total short-term debt $ 424 $ 1,204 Long-term debt: Fixed rate senior notes 2023-2051 1.50%-6.75% $ 11,007 $ 9,912 Junior subordinated notes 2042-2060 3.70%-5.88% 7,554 7,518 Total long-term debt $ 18,561 $ 17,430 __________ (1) Ranges of interest rates are for the year ended December 31, 2020. (2) The weighted average interest rate on outstanding commercial paper was 0.12% and 1.71% at December 31, 2020 and 2019, respectively. Long-term Debt In order to manage exposure to interest rate movements, Prudential Financial utilizes derivative instruments, primarily interest rate swaps, in conjunction with some of its debt issues. The impact of these derivative instruments is not reflected in the rates presented in the table above. For those derivatives that qualify for hedge accounting treatment, interest expense was $0.4 million, $0.3 million, and $0.3 million for each of the years ended December 31, 2020, 2019 and 2018, respectively. Schedule of Long-term Debt Maturities The following table presents Prudential Financial’s contractual maturities for long-term debt as of December 31, 2020: Calendar Year 2022 2023 2024 2025 2026 and Total (in millions) Long-term debt $ 0 $ 0 $ 700 $ 0 $ 17,861 $ 18,561 4. DIVIDENDS AND RETURNS OF CAPITAL For the years ended December 31, Prudential Financial received cash dividends and/or returns of capital from the following subsidiaries: 2020 2019 2018 (in millions) Prudential Annuities Holding Company $ 120 $ 163 $ 175 International Insurance and Investments Holding Companies(1) 3,061 1,065 2,270 The Prudential Insurance Company of America 500 600 0 PGIM Holding Company 399 462 578 Prudential Annuities Life Assurance Corporation 760 978 1,025 Other Holding Companies 14 14 10 Total $ 4,854 $ 3,282 $ 4,058 __________ (1) 2020 includes $1,627 million of net proceeds from the sale of POK that were distributed to PFI. 5. COMMITMENTS AND GUARANTEES Prudential Financial has issued a subordinated guarantee covering a subsidiary’s domestic commercial paper program. As of December 31, 2020, there was $354 million outstanding under this commercial paper program. Prudential Financial has provided guarantees of the payment of principal and interest on intercompany loans between affiliates. As of December 31, 2020, Prudential Financial had issued guarantees of outstanding loans totaling $3.8 billion between international insurance subsidiaries and other affiliates. In 2013, Prudential Financial entered into a $500 million indemnity and guarantee agreement with Wells Fargo Bank Northwest, N.A. Under this agreement, Prudential Financial guaranteed obligations with respect to an affiliated loan from PICA to an affiliate. The loan proceeds were utilized to construct Prudential Tower home office in Newark, New Jersey. Prudential Financial is also subject to other financial guarantees, net worth maintenance agreements and indemnity arrangements, including those made in the normal course of businesses guaranteeing the performance of, or representations made by, Prudential Financial subsidiaries. Prudential Financial has provided indemnities and guarantees related to acquisitions and dispositions, investments, debt issuances and other transactions, including those provided as part of its ongoing operations that are triggered by, among other things, breaches of representations, warranties or covenants provided by Prudential Financial or its subsidiaries. These obligations are typically subject to various time limitations, defined by the contract or by operation of law, such as statutes of limitation. In some cases, the maximum potential obligation is subject to contractual limitations, while in other cases such limitations are not specified or applicable. Since certain of these obligations are not subject to limitations, it is not possible to determine the maximum potential amount due under these guarantees. At December 31, 2020, Prudential Financial has no accrued liabilities associated with other financial guarantees and indemnity arrangements.

Schedule III - Supplementary In

Schedule III - Supplementary Insurance Information	12 Months Ended
	Dec. 31, 2020
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Abstract]
Schedule III - Supplementary Insurance Information	PRUDENTIAL FINANCIAL, INC. Schedule III Supplementary Insurance Information As of and for the Year Ended December 31, 2020 (in millions) Segment Deferred Future Unearned Other Premiums, Net Benefits, Amortization Other PGIM $ 0 $ 0 $ 0 $ 0 $ 0 $ 304 $ 0 $ 8 $ 2,637 U.S Businesses: U.S. Workplace Solutions division: Retirement 141 68,919 0 55,368 6,531 4,735 10,115 17 1,089 Group Insurance 149 5,176 246 7,470 5,171 516 4,870 8 924 Total U.S. Workplace Solutions division 290 74,095 246 62,838 11,702 5,251 14,985 25 2,013 U.S. Individual Solutions division: Individual Annuities 4,689 21,325 0 12,383 2,399 898 664 481 1,771 Individual Life 6,196 21,062 0 29,099 3,347 2,279 4,261 406 2,259 Total U.S. Individual Solutions division 10,885 42,387 0 41,482 5,746 3,177 4,925 887 4,030 Assurance IQ division: Assurance IQ 0 0 0 0 0 2 0 0 533 Total Assurance IQ division 0 0 0 0 0 2 0 0 533 Total U.S. Businesses 11,175 116,482 246 104,320 17,448 8,430 19,910 912 6,576 International Businesses 7,668 128,682 94 51,476 16,155 4,973 14,676 1,239 2,809 Corporate and Other (25) 14,076 1 1,115 1,584 1,463 2,203 36 1,560 Total PFI excluding Closed Block division 18,818 259,240 341 156,911 35,187 15,170 36,789 2,195 13,582 Closed Block division 209 46,762 0 14,295 1,982 2,240 4,433 26 331 Total $ 19,027 $ 306,002 $ 341 $ 171,206 $ 37,169 $ 17,410 $ 41,222 $ 2,221 $ 13,913 PRUDENTIAL FINANCIAL, INC. Schedule III Supplementary Insurance Information As of and for the Year Ended December 31, 2019 (in millions) Segment Deferred Future Unearned Other Policy Premiums, Net Benefits, Amortization of Other PGIM $ 0 $ 0 $ 0 $ 0 $ 0 $ 200 $ 0 $ 6 $ 2,520 U.S Businesses: U.S. Workplace Solutions division: Retirement 144 67,783 0 49,047 9,490 4,721 13,251 29 1,160 Group Insurance 156 4,865 242 8,587 5,024 623 4,544 7 915 Total U.S. Workplace Solutions division 300 72,648 242 57,634 14,514 5,344 17,795 36 2,075 U.S. Individual Solutions division: Individual Annuities 4,973 15,151 0 9,529 2,748 854 680 321 1,869 Individual Life 5,836 17,417 0 28,146 3,083 2,268 3,678 699 2,080 Total U.S. Individual Solutions division 10,809 32,568 0 37,675 5,831 3,122 4,358 1,020 3,949 Assurance IQ division: Assurance IQ 0 0 0 0 0 0 0 0 151 Total Assurance IQ division 0 0 0 0 0 0 0 0 151 Total U.S. Businesses 11,109 105,216 242 95,309 20,345 8,466 22,153 1,056 6,175 International Businesses(1) 7,442 117,298 86 49,599 15,604 4,916 14,122 1,144 2,861 Corporate and Other(1) 1,126 23,071 0 2,351 2,024 1,679 2,476 97 1,507 Total PFI excluding Closed Block division 19,677 245,585 328 147,259 37,973 15,262 38,751 2,303 13,063 Closed Block division 235 47,614 0 11,839 2,207 2,323 5,223 29 353 Total $ 19,912 $ 293,199 $ 328 $ 159,098 $ 40,180 $ 17,585 $ 43,974 $ 2,332 $ 13,416 PRUDENTIAL FINANCIAL, INC. Schedule III Supplementary Insurance Information As of and for the Year Ended December 31, 2018 (in millions) Segment Deferred Future Unearned Other Premiums, Net Benefits, Amortization of Other PGIM $ 0 $ 0 $ 0 $ 0 $ 0 $ 73 $ 0 $ 8 $ 2,298 U.S. Businesses: U.S. Workplace Solutions division: Retirement 153 64,750 0 47,766 11,582 4,394 14,209 39 1,100 Group Insurance 158 4,691 236 9,089 4,994 604 4,523 5 927 Total U.S. Workplace Solutions division 311 69,441 236 56,855 16,576 4,998 18,732 44 2,027 U.S. Individual Solutions division: Individual Annuities 4,984 11,057 0 8,886 2,792 683 734 658 1,824 Individual Life 6,103 14,320 0 27,792 2,985 2,040 3,229 353 1,907 Total U.S. Individual Solutions division 11,087 25,377 0 36,678 5,777 2,723 3,963 1,011 3,731 Total U.S. Businesses 11,398 94,818 236 93,533 22,353 7,721 22,695 1,055 5,758 International Businesses(1) 7,234 109,136 84 48,873 15,120 4,616 13,103 1,108 2,543 Corporate and Other(1) 1,162 21,290 0 3,019 2,007 1,478 3,797 67 986 Total PFI excluding Closed Block division 19,794 225,244 320 145,425 39,480 13,888 39,596 2,238 11,585 Closed Block division 264 48,282 0 9,023 2,301 2,288 4,340 35 364 Total $ 20,058 $ 273,526 $ 320 $ 154,448 $ 41,781 $ 16,176 $ 43,936 $ 2,273 $ 11,949 __________ (1) Effective second quarter of 2020, the carrying amount of assets of POK are excluded from the International Businesses and are included in the Divested and Run-off Businesses in Corporate and Other. Effective third quarter of 2020, the carrying amount of assets of POT are excluded from the International Businesses and are included in the Divested and Run-off Businesses in Corporate and Other. Prior period amounts have been updated to conform to current period presentation. See Note 1 for additional information.

Schedule IV - Reinsurance

Schedule IV - Reinsurance	12 Months Ended
	Dec. 31, 2020
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Abstract]
Schedule IV - Reinsurance	PRUDENTIAL FINANCIAL, INC. Schedule IV Reinsurance As of and For the Years Ended December 31, 2020, 2019 and 2018 ($ in millions) Gross Ceded to Assumed Net Percentage 2020 Life Insurance Face Amount In Force $ 4,015,943 $ 887,028 $ 180,343 $ 3,309,258 5.4 % Premiums: Life Insurance $ 26,197 $ 2,199 $ 4,336 $ 28,334 15.3 % Accident and Health Insurance 2,894 88 0 2,806 0.0 Total Premiums $ 29,091 $ 2,287 $ 4,336 $ 31,140 13.9 % 2019 Life Insurance Face Amount In Force $ 4,123,019 $ 862,460 $ 188,576 $ 3,449,135 5.5 % Premiums: Life Insurance $ 30,333 $ 1,990 $ 3,022 $ 31,365 9.6 % Accident and Health Insurance 2,927 90 0 2,837 0.0 Total Premiums $ 33,260 $ 2,080 $ 3,022 $ 34,202 8.8 % 2018 Life Insurance Face Amount In Force $ 3,985,589 $ 791,354 $ 197,343 $ 3,391,578 5.8 % Premiums: Life Insurance $ 32,248 $ 1,792 $ 2,574 $ 33,030 7.8 % Accident and Health Insurance 2,800 51 0 2,749 0.0 Total Premiums $ 35,048 $ 1,843 $ 2,574 $ 35,779 7.2 %

Significant Accounting Polici_2

Significant Accounting Policies and Pronouncements (Policies)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The Consolidated Financial Statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”). The Consolidated Financial Statements include the accounts of Prudential Financial, entities over which the Company exercises control, including majority-owned subsidiaries and minority-owned entities such as limited partnerships in which the Company is the general partner and variable interest entities (“VIEs”) in which the Company is considered the primary beneficiary. See Note 4 for additional information on the Company’s consolidated variable interest entities. Intercompany balances and transactions have been eliminated.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The most significant estimates include those used in determining deferred policy acquisition costs (“DAC”) and related amortization; policyholders’ account balances related to the fair value of embedded derivative instruments associated with the index-linked features of certain universal life and annuity products; value of business acquired (“VOBA”) and its amortization; amortization of deferred sales inducements (“DSI”); measurement of goodwill and any related impairment; valuation of investments including derivatives, measurement of allowance for credit losses, and the recognition of other-than-temporary impairments (“OTTI”); future policy benefits including guarantees; pension and other postretirement benefits; provision for income taxes and valuation of deferred tax assets; and accruals for contingent liabilities, including estimates for losses in connection with unresolved legal and regulatory matters.
Reclassifications	Reclassifications Certain amounts in prior periods have been reclassified to conform to the current period presentation.
Investments and Investment-Related Liabilities	Fixed maturities, available-for-sale, at fair value (“AFS debt securities”) includes bonds, notes and redeemable preferred stock that are carried at fair value. See Note 6 for additional information regarding the determination of fair value. The purchased cost of fixed maturities is adjusted for amortization of premiums and accretion of discounts to maturity or, if applicable, call date. AFS debt securities, where fair value is below amortized cost, are reviewed quarterly to determine whether the amortized cost basis of the security is recoverable. For mortgage-backed and asset-backed AFS debt securities, a credit impairment will be recognized to the extent the amortized cost exceeds the net present value of projected future cash flows (the “net present value”) for the security. For all other AFS debt securities, qualitative factors are first considered including, but not limited to, the extent of the decline and the reasons for the decline in value (e.g., credit events, currency or interest-rate related, including general credit spread widening), and the financial condition of the issuer. If analysis of these qualitative factors results in the security needing to be impaired, the credit impairment will be measured as the extent to which the amortized cost exceeds the net present value. The net present value is calculated by discounting the Company’s best estimate of projected future cash flows at the effective interest rate implicit in the AFS debt security at the date of acquisition. Credit impairment is recognized as an allowance for credit losses and reported in “Realized investment gains (losses), net.” Once the Company has deemed all or a portion of the amortized cost uncollectible, the allowance is removed from the balance sheet by writing down the amortized cost basis of the AFS debt security. The Company adopted Accounting Standards Update (“ASU”) 2016-13, and related ASUs, effective January 1, 2020. See “Recent Accounting Pronouncements” in this Note for additional information about the adoption. Prior to the adoption of ASU 2016-13, credit impairments were recognized as a direct write down to the cost basis of the security. Interest income, including amortization of premium and accretion of discount, are included in “Net investment income” under the effective yield method. Prepayment premiums are also included in “Net investment income.” For high credit quality mortgage-backed and asset-backed AFS debt securities (those rated AA or above), the amortized cost and effective yield of the securities are adjusted as necessary to reflect historical prepayment experience and changes in estimated future prepayments. The adjustments to amortized cost are recorded as a charge or credit to “Net investment income” in accordance with the retrospective method. For mortgage-backed and asset-backed AFS debt securities rated below AA, the effective yield is adjusted prospectively for any changes in the estimated timing and amount of cash flows unless the investment is purchased with credit deterioration or an allowance is currently recorded for the respective security. If an investment is impaired, any changes in the estimated timing and amount of cash flows will be recorded as the credit impairment, as opposed to a yield adjustment. If the asset is purchased with credit deterioration (or previously impaired), the effective yield will be adjusted if there are favorable changes in cash flows subsequent to the allowance being reduced to zero. Prior to the adoption of ASU 2016-13, the effective yield was adjusted prospectively unless an impairment was recorded in the current period. For mortgage-backed and asset-backed AFS debt securities, cash flow estimates consider the payment terms of the underlying assets backing a particular security, including interest rate and prepayment assumptions based on data from widely accepted third-party data sources or internal estimates. In addition to interest rate and prepayment assumptions, cash flow estimates also include other assumptions regarding the underlying collateral including default rates and recoveries, which vary based on the asset type and geographic location, as well as the vintage year of the security. These assumptions can significantly impact income recognition and the amount of impairment recognized in earnings and other comprehensive income (loss) (“OCI”). The payment priority of the respective security is also considered. For all other AFS debt securities, cash flow estimates are driven by assumptions regarding probability of default and estimates regarding timing and amount of recoveries associated with a default. The Company has developed these estimates using information based on its historical experience as well as using market observable data, such as industry analyst reports and forecasts, sector credit ratings and other data relevant to the collectability of a security, such as the general payment terms of the security and the security’s position within the capital structure of the issuer. The Company may use the estimated fair value of collateral, if any, as a proxy for the net present value if it believes that the security is dependent on the liquidation of collateral for recovery of its investment. If the net present value is less than the amortized cost of the investment, an allowance for losses is recognized in earnings for the difference between amortized cost and the net present value and is limited to the difference between amortized cost and fair value of the AFS debt security. Any difference between the fair value and the net present value of the debt security at the impairment measurement date remains in OCI. Changes in the allowance for losses are reported in “Realized investment gains (losses), net.” When an AFS debt security’s fair value is below amortized cost and (1) the Company has the intent to sell the AFS debt security, or (2) it is more likely than not the Company will be required to sell the AFS debt security before its anticipated recovery, the amortized cost basis of the AFS debt security is written down to fair value and any previously recognized allowance is reversed. The impairment is reported in “Realized investment gains (losses), net.” The associated unrealized gains and losses, net of tax, and the effect on DAC, VOBA, DSI, future policy benefits, policyholders’ account balances and policyholders’ dividends that would result from the realization of unrealized gains and losses, are included in “Accumulated other comprehensive income (loss)” (“AOCI”). Each of these balances is discussed in greater detail below. Fixed maturities, held-to-maturity, at amortized cost includes bonds that the Company has both the positive intent and ability to hold to maturity, and are carried at amortized cost, net of the current expected credit loss (“CECL”) allowance (“HTM debt securities”). Interest income for HTM debt securities is computed in the same manner as interest income for AFS debt securities, both prior to and after the adoption of ASU 2016-13. Credit impairment for HTM debt securities is recorded through a CECL allowance. The CECL allowance is generally determined based on probability of default and loss given default assumptions according to sector, credit quality and remaining time to maturity. Changes in the allowance are reported in “Realized investment gains (losses), net.” Once the Company has deemed all or a portion of the amortized cost uncollectible, the uncollectible portion of the allowance is removed from the balance sheet by writing down the amortized cost basis of the security. Prior to the adoption of ASU 2016-13, credit impairments were recognized as a direct write down to the cost basis of the security and the credit impairment recognized was measured based upon the net present value of expected cash flows. The CECL allowance represents the Company’s best estimate of expected credit losses over the remaining life of the assets. The determination of the allowance considers historical credit loss experience, current conditions, and reasonable and supportable forecasts. The allowance is calculated separately for each HTM debt security. Key inputs to the CECL model include unpaid principal balances, credit ratings, annual expected loss factors, average life adjusted for prepayment considerations, current and historical interest rate assumptions, and other factors influencing the Company’s view of the current stage of the economic cycle and future economic conditions. Subjective considerations include a review of whether historical loss experience is representative of current market conditions and the Company’s view of the credit cycle. Model assumptions and factors are reviewed and updated as appropriate. Fixed maturities, trading, at fair value consists of fixed maturities with embedded features that are considered derivatives and assets contained within consolidated variable interest entities. Realized and unrealized gains and losses on these investments are reported in “Other income (loss),” and interest and dividend income from these investments is reported in “Net investment income.” Assets supporting experience-rated contractholder liabilities, at fair value includes invested assets that consist of fixed maturities, equity securities, short-term investments and cash equivalents, that support certain products included in the Retirement and International Businesses segments which are experience-rated, meaning that the investment results associated with these products are expected to ultimately accrue to contractholders. Realized and unrealized gains and losses for these investments are reported in “Other income (loss).” Interest and dividend income from these investments is reported in “Net investment income.” Equity securities, at fair value is comprised of common stock, mutual fund shares and non-redeemable preferred stock that are carried at fair value. Realized and unrealized gains and losses on these investments are reported in “Other income (loss),” and dividend income is reported in “Net investment income” on the ex-dividend date. Effective January 1, 2018, the Company adopted ASU 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Liabilities using a modified retrospective method. Adoption of this ASU impacted the Company’s accounting and presentation related to equity investments. The most significant impact is that the changes in fair value of equity securities previously classified as “available-for-sale” are reported in net income within “Other income (loss)” in the Consolidated Statements of Operations. The impact of this standard resulted in an increase to retained earnings of $904 million, a reduction to AOCI of $847 million, and an increase to equity of $57 million upon adoption on January 1, 2018. Commercial mortgage and other loans consists of commercial mortgage loans, agricultural property loans, loans backed by residential properties, as well as certain other collateralized and uncollateralized loans. Loans backed by residential properties primarily include recourse loans held by the Company’s international insurance operations. Uncollateralized loans primarily represent reverse dual currency loans and corporate loans held by the Company’s international insurance operations. Commercial mortgage and other loans originated and held for investment are generally carried at unpaid principal balance, net of unamortized deferred loan origination fees and expenses, and net of the CECL allowance. Certain off-balance sheet credit exposures (e.g., indemnification of serviced mortgage loans, and certain unfunded mortgage loan commitments where the Company cannot unconditionally cancel the commitment) are also subject to a CECL allowance. See Note 23 for additional information. The Company carries certain commercial mortgage loans originated within the Company’s commercial mortgage operations at fair value where the fair value option has been elected. Loans held for sale where the Company has not elected the fair value option are carried at the lower of cost or fair value. Commercial mortgage and other loans acquired, including those related to the acquisition of a business, are recorded at fair value when purchased, reflecting any premiums or discounts to unpaid principal balances. Interest income, and the amortization of the related premiums or discounts, are included in “Net investment income” under the effective yield method. Prepayment fees are also included in “Net investment income.” The CECL allowance represents the Company’s best estimate of expected credit losses over the remaining life of the assets or off-balance sheet credit exposures. The determination of the allowance considers historical credit loss experience, current conditions, and reasonable and supportable forecasts. Prior to the adoption of ASU 2016-13, the allowance was based upon credit losses that were probable of occurring for recognized loans, not an estimate of credit losses that may occur over the remaining life of the asset. The allowance is calculated separately for commercial mortgage loans, agricultural mortgage loans, and other collateralized and uncollateralized loans. For commercial mortgage and agricultural mortgage loans, the allowance is calculated using an internally developed CECL model. Key inputs to the CECL model include unpaid principal balances, internal credit ratings, annual expected loss factors, average lives of the loans adjusted for prepayment considerations, current and historical interest rate assumptions, and other factors influencing the Company’s view of the current stage of the economic cycle and future economic conditions. Subjective considerations include a review of whether historical loss experience is representative of current market conditions and the Company’s view of the credit cycle. Model assumptions and factors are reviewed and updated as appropriate. Information about certain key inputs is detailed below. Key factors in determining the internal credit ratings for commercial mortgage and agricultural mortgage loans include loan-to-value and debt-service-coverage ratios. Other factors include amortization, loan term, and estimated market value growth rate and volatility for the property type and region. The loan-to-value ratio compares the carrying amount of the loan to the fair value of the underlying property or properties collateralizing the loan, and is commonly expressed as a percentage. Loan-to-value ratios greater than 100% indicate that the carrying amount of the loan exceeds the collateral value. A loan-to-value ratio less than 100% indicates an excess of collateral value over the carrying amount of the loan. The debt service coverage ratio is a property’s net operating income as a percentage of its debt service payments. Debt service coverage ratios less than 1.0 times indicate that property operations do not generate enough income to cover the loan’s current debt payments. A debt service coverage ratio greater than 1.0 times indicates an excess of net operating income over the debt service payments. The values utilized in calculating these ratios are developed as part of the Company’s periodic review of the commercial mortgage loan and agricultural property loan portfolios, which includes an internal appraisal of the underlying collateral value. The Company’s periodic review also includes a quality re-rating process, whereby the internal quality rating originally assigned at underwriting is updated based on current loan, property and market information using a proprietary quality rating system. See Note 3 for additional information related to the loan-to-value ratios and debt service coverage ratios related to the Company’s commercial mortgage and agricultural loan portfolios. Annual expected loss rates are based on historical default and loss experience factors. Using average lives, the annual expected loss rates are converted into life-of-loan loss expectations. When individual loans no longer have the credit risk characteristics of the commercial or agricultural mortgage loan pools, they are removed from the pools and are evaluated individually for an allowance. The allowance is determined based on the outstanding loan balance less the present value of expected future cash flows discounted at the loan’s effective interest rate or the fair value of the collateral if the loan is collateral dependent. The CECL allowance on commercial mortgage and other loans can increase or decrease from period to period based on the factors noted above. The change in allowance is reported in “Realized investment gains (losses), net.” As it relates to unfunded commitments that are in scope of this guidance, the CECL allowance is reported in “Other liabilities,” and the change in the allowance is reported in “Realized investment gains (losses), net.” The CECL allowance for other collateralized and uncollateralized loans (e.g., corporate loans) carried at amortized cost is determined based on probability of default and loss given default assumptions by sector, credit quality and average lives of the loans. Additions to, or releases of, the allowance are reported in “Realized investment gains (losses), net.” Once the Company has deemed a portion of the amortized costs to be uncollectible, the uncollectible portion of allowance is removed from the balance sheet by writing down the amortized cost basis of the loan. The carrying amount of the loan is not adjusted for subsequent recoveries in value. Interest received on loans that are past due is either applied against the principal or reported as net investment income based on the Company’s assessment as to the collectability of the principal. The Company defines “past due” as principal or interest not collected at least 30 days past the scheduled contractual due date. See Note 3 for additional information about the Company’s past due loans. The Company discontinues accruing interest on loans after the loans become 90 days delinquent as to principal or interest payments, or earlier when the Company has doubts about collectability. When the Company discontinues accruing interest on a loan, any accrued but uncollectible interest on the loan and other loans backed by the same collateral, if any, is charged against interest income in the same period. Generally, a loan is restored to accrual status only after all delinquent interest and principal are brought current and, in the case of loans where the payment of interest has been interrupted for a substantial period, or the loan has been modified, a regular payment performance has been established. Commercial mortgage and other loans are occasionally restructured in a troubled debt restructuring (“TDR”). These restructurings generally include one or more of the following: full or partial payoffs outside of the original contract terms; changes to interest rates; extensions of maturity; or additions or modifications to covenants. Additionally, the Company may accept assets in full or partial satisfaction of the debt as part of a TDR. When restructurings occur, they are evaluated individually to determine whether the restructuring or modification constitutes a TDR as defined by authoritative accounting guidance. If the borrower is experiencing financial difficulty and the Company has granted a concession, the restructuring, including those that involve a partial payoff or the receipt of assets in full satisfaction of the debt is deemed to be a TDR. When there is a reasonable expectation that the Company will execute a TDR, all effects of the potential restructuring are considered for the estimation of the CECL allowance. When a loan is modified in a TDR, the CECL allowance of the loan is remeasured using the modified terms and the loan’s original effective yield, and the allowance is adjusted accordingly. The loan will be evaluated to determine whether the loan no longer has similar credit risk characteristics of the commercial or agricultural mortgage loan pools and need to be evaluated for an allowance on an individual basis. Subsequent to the modification, income is recognized prospectively based on the modified terms of the loan. In a TDR where the Company receives assets in full satisfaction of the debt, any CECL allowance is reversed and a direct write-down of the loan is recorded for the amount of the allowance, and any additional loss, net of recoveries, or any gain is recorded for the difference between the fair value of the assets received and the recorded investment in the loan. When assets are received in partial settlement, the same process is followed, and the remaining loan is evaluated prospectively for credit impairment based on the CECL allowance process noted above. The Company’s PGIM business provides commercial mortgage origination, underwriting and servicing for certain government sponsored entities (“GSEs”). The Company has agreed to indemnify the GSEs for a portion of the credit risk associated with certain of the mortgages it services. Management has established a CECL allowance that factors in historical loss information, current conditions and reasonable and supportable forecasts. The allowance also considers the remaining lives of the loans subject to the indemnification. The CECL allowance is included in “Other liabilities” and changes in the CECL allowance are reported in “Realized investment gains (losses), net.” See Note 23 for additional information. Prior to the adoption of ASU 2016-13, a credit loss allowance was not required. Policy loans represent funds loaned to policyholders up to the cash surrender value of the associated insurance policies and are carried at the unpaid principal balances due to the Company from the policyholders. Interest income on policy loans is recognized in “Net investment income” at the contract interest rate when earned. Policy loans are fully collateralized by the cash surrender value of the associated insurance policies. Other invested assets consists of the Company’s non-coupon investments in limited partnerships and limited liability companies (“LPs/LLCs”), other than operating joint ventures, as well as wholly-owned investment real estate, derivative assets and other investments. LPs/LLCs interests are accounted for using either the equity method of accounting, or at fair value with changes in fair value reported in “Other income (loss).” The Company’s income from investments in LPs/LLCs accounted for using the equity method, other than the Company’s investments in operating joint ventures, is included in “Net investment income.” The carrying value of these investments is written down, or impaired, to fair value when a decline in value is considered to be other-than-temporary. In applying the equity method (including assessment for OTTI), the Company uses financial information provided by the investee, generally on a one to three-month lag. The Company consolidates LPs/LLCs in certain other instances where it is deemed to exercise control, or is considered the primary beneficiary of a variable interest entity. See Note 4 for additional information about VIEs. The Company’s wholly-owned investment real estate consists of real estate which the Company has the intent to hold for the production of income as well as real estate held for sale. Real estate which the Company has the intent to hold for the production of income is carried at depreciated cost less any write-downs to fair value for impairment losses and is reviewed for impairment whenever events or circumstances indicate that the carrying value may not be recoverable. Real estate held for sale is carried at the lower of depreciated cost or fair value less estimated selling costs and is not further depreciated once classified as such. An impairment loss is recognized when the carrying value of the investment real estate exceeds the estimated undiscounted future cash flows (excluding interest charges) from the investment. At that time, the carrying value of the investment real estate is written down to fair value. Decreases in the carrying value of investment real estate held for the production of income due to OTTI are recorded in “Realized investment gains (losses), net.” Depreciation on real estate held for the production of income is computed using the straight-line method over the estimated useful lives of the properties and is included in “Net investment income.” Short-term investments primarily consist of highly liquid debt instruments with a maturity of twelve months or less and greater than three months when purchased, other than those debt instruments meeting this definition that are included in “Assets supporting experience-rated contractholder liabilities, at fair value.” These investments are generally carried at fair value or amortized cost that approximates fair value and include certain money market investments, funds managed similar to regulated money market funds, short-term debt securities issued by government-sponsored entities and other highly liquid debt instruments. Realized investment gains (losses) are computed using the specific identification method with the exception of some of the Company’s International Businesses portfolios, where the average cost method is used. Realized investment gains and losses are generated from numerous sources, including the sales of fixed maturity securities, investments in joint ventures and limited partnerships and other types of investments, as well as changes to the allowance for credit losses recognized in earnings. Realized investment gains and losses also reflect fair value changes on commercial mortgage loans carried at fair value, and fair value changes on embedded derivatives and free-standing derivatives that do not qualify for hedge accounting treatment. See “Derivative Financial Instruments” below for additional information regarding the accounting for derivatives. Accrued investment income primarily includes accruals of interest and dividend income from investments that have been earned but not yet received. Notes issued by consolidated variable interest entities represent notes issued by certain asset-backed investment vehicles, primarily collateralized loan obligations (“CLOs”), which the Company is required to consolidate. The creditors of these VIEs do not have recourse to the Company in excess of the assets contained within the VIEs. The Company has elected the fair value option for the majority of these notes, and has based the fair value on the corresponding bank loan collateral. Changes in fair value are reported in “Other income (loss).”
Cash and Cash Equivalents	Cash and cash equivalents include cash on hand, amounts due from banks, certain money market investments, funds managed similar to regulated money market funds, other debt instruments with maturities of three months or less when purchased, other than cash equivalents that are included in “Assets supporting experience-rated contractholder liabilities, at fair value,” and receivables related to securities purchased under agreements to resell (see also “ Securities sold under agreements to repurchase ” below). These assets are generally carried at fair value or amortized cost which approximates fair value.
DAC	Deferred policy acquisition costs are costs directly related to the successful acquisition of new and renewal insurance and annuity business that have been deferred to the extent such costs are deemed recoverable from future profits. Such DAC primarily includes commissions, costs of policy issuance and underwriting, and certain other expenses that are directly related to successfully acquired contracts. In each reporting period, capitalized DAC is amortized to “Amortization of DAC,” net of the accrual of imputed interest on DAC balances. DAC is subject to periodic recoverability testing. DAC, for applicable products, is adjusted for the impact of unrealized gains or losses on investments as if these gains or losses had been realized, with corresponding credits or charges included in AOCI. For traditional participating life insurance which are included in the Closed Block, DAC is amortized over the expected life of the contracts in proportion to gross margins based on historical and anticipated future experience., Any changes in estimated gross margins on unamortized DAC are reflected in the period such that estimated gross margins are revised on a retrospective basis. DAC related to non-participating traditional individual life insurance and longevity reinsurance contracts is amortized in proportion to gross premiums. DAC related to universal and variable life products and fixed and variable deferred annuity products are generally deferred and amortized over the expected life of the contracts in proportion to gross profits arising principally from investment margins, mortality and expense margins, and surrender charges, based on historical and anticipated future experience, which is updated periodically. The Company uses a reversion to the mean approach for equities to derive future equity return assumptions; however, if the projected equity return calculated using this approach is greater than the maximum equity return assumption, the maximum equity return is utilized. Gross profits also include impacts from the embedded derivatives associated with certain of the optional living benefit features of variable annuity contracts, and index-linked crediting features of certain universal life and annuity contracts and related hedging activities. Total gross profits include both actual gross profits and estimates of gross profits for future periods. The Company regularly evaluates and adjusts DAC balances with a corresponding charge or credit to current period earnings, representing a cumulative adjustment to all prior periods’ amortization, for the impact of actual gross profits and changes in the Company’s projections of estimated future gross profits. Adjustments to DAC balances include: (i) annual review of assumptions that reflect the comprehensive review of the assumptions used in estimating gross profits for future periods; (ii) quarterly adjustments for current period experience (also referred to as “experience true-up” adjustments) that reflect the impact of differences between actual gross profits for a given period and the previously estimated expected gross profits for that period; and (iii) quarterly adjustments for market performance (also referred to as “experience unlocking”) that reflect the impact of changes to the Company’s estimate of total gross profits to reflect actual fund performance and market conditions. For group annuity contracts (other than single premium group annuities), acquisition costs are generally deferred and amortized over the expected life of the contracts in proportion to gross profits. For group corporate-, bank- and trust-owned life insurance contracts, acquisition costs are generally deferred and amortized in proportion to lives insured. For single premium immediate annuities with life contingencies, single premium group annuities, including non-participating group annuity contracts, and single premium structured settlements with life contingencies, all acquisition costs are charged to expense immediately because generally all premiums are recognized as revenue at the inception of the contract. For funding agreement notes contracts, single premium structured settlement contracts without life contingencies, and single premium immediate annuities without life contingencies, acquisition expenses are deferred and amortized over the expected life of the contracts using the interest method. For other group life and disability insurance contracts and guaranteed investment contracts (“GICs”), acquisition costs are expensed as incurred. For some products, policyholders can elect to modify product benefits, features, rights or coverages by exchanging a contract for a new contract or by amendment, endorsement, or rider to a contract, or by the election of a feature or coverage within a contract. These transactions are known as internal replacements. If policyholders surrender traditional life insurance policies in exchange for life insurance policies that do not have fixed and guaranteed terms, the Company immediately charges to expense the remaining unamortized DAC on the surrendered policies. For other internal replacement transactions, except those that involve the addition of a nonintegrated contract feature that does not change the existing base contract, the unamortized DAC is immediately charged to expense if the terms of the new policies are not substantially similar to those of the former policies. If the new terms are substantially similar to those of the earlier policies, the DAC is retained with respect to the new policies and amortized over the expected life of the new policies. See Note 7 for additional information regarding DAC.
VOBA	Value of business acquired represents identifiable intangible assets to which a portion of the purchase price in a business acquisition is attributed under the application of purchase accounting. VOBA represents an adjustment to the stated value of in-force insurance contract liabilities to present them at fair value, determined as of the acquisition date. VOBA balances are subject to recoverability testing, in the manner in which they were acquired. The Company has established a VOBA asset primarily for its acquired life insurance products, accident and health products with fixed benefits, deferred annuity contracts, and defined contribution and defined benefit businesses. As of December 31, 2020, the majority of the VOBA balance relates to the 2011 acquisition of AIG Star Life Insurance Co., Ltd, AIG Edison Life Insurance Company, and AIG Financial Assurance Japan K.K. and AIG Edison Service Co., Ltd. (collectively, the “Star and Edison Businesses”.) The Company amortizes VOBA over the anticipated life of the acquired contracts using the same methodology and assumptions used to amortize DAC. The Company records amortization of VOBA in “General and administrative expenses.” VOBA, for applicable products, is adjusted for the impact of unrealized gains or losses on investments as if these gains or losses had been realized, with corresponding credits or charges included in AOCI. See Note 8 for additional information regarding VOBA.
Other Assets and Other Liabilities	Other assets consist primarily of prepaid pension benefit costs (see Note 18), certain restricted assets (e.g., cash and cash equivalents), trade receivables, goodwill and other intangible assets, “right-of-use” lease assets (see “ Other liabilities ” below), DSI, the Company’s investments in operating joint ventures, property and equipment, reinsurance recoverables (see “ Reinsurance ” below), receivables resulting from sales of securities that had not yet settled at the balance sheet date, and trade receivables related to Assurance IQ. Trade receivables related to Assurance IQ are reported net of the CECL allowance. The CECL allowance considers the credit quality of the counterparties and is generally determined based on probability of default and loss given default assumptions. Additions to or releases of the allowance are reported in “General and administrative expenses.” Prior to the adoption of ASU 2016-13, the allowance was based upon credit losses that were probable of occurring, not an estimate of credit losses that may occur over the remaining life of the trade receivables. Property and equipment are carried at cost less accumulated depreciation. Depreciation is determined using the straight-line method over the estimated useful lives of the related assets, which generally range from 3 to 40 years. As a result of certain acquisitions, the Company recognizes an asset for goodwill representing the excess of cost over the net fair value of the assets acquired and liabilities assumed. Goodwill is assigned to reporting units at the date the goodwill is initially recorded. A reporting unit is an operating segment or a unit one level below the operating segment, if discrete financial information is prepared and regularly reviewed by management at that level. Once goodwill has been assigned to reporting units, it no longer retains its association with a particular acquisition, and all of the activities within a reporting unit, whether acquired or organically grown, are available to support the value of the goodwill. The Company tests goodwill for impairment annually as of December 31 and more frequently if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. Accounting guidance provides for an optional qualitative assessment for testing goodwill impairment that may allow companies to skip the quantitative test. The Company estimated the fair value of the reporting units by applying the quantitative test, which involves comparing each reporting unit’s fair value to its carrying value including goodwill. If the fair value of a reporting unit exceeds its carrying value, the applicable goodwill is considered not to be impaired. If the carrying value exceeds fair value, an impairment charge to income is recorded for the excess. An impairment loss recognized cannot exceed the amount of goodwill assigned to a reporting unit, and the loss establishes a new basis in the goodwill. Subsequent reversal of goodwill impairment losses is not permitted. Management is required to make significant estimates in determining the fair value of a reporting unit including, but not limited to: projected revenues and operating margins, applicable discount and growth rates, and comparative market multiples. See Note 10 for additional information on goodwill by reporting unit. The Company offered various types of sales inducements to policyholders related to fixed and variable deferred annuity contracts. The Company defers sales inducements and amortizes them over the expected life of the policy using the same methodology and assumptions used to amortize DAC. Sales inducement balances are subject to periodic recoverability testing. The Company records amortization of DSI in “Interest credited to policyholders’ account balances.” DSI, for applicable products, is adjusted for the impact of unrealized gains or losses on investments as if these gains or losses had been realized, with corresponding credits or charges included in AOCI. See Note 13 for additional information regarding sales inducements. Identifiable intangible assets primarily include customer relationships and mortgage servicing rights and are recorded net of accumulated amortization. The Company tests identifiable intangible assets for impairment on an annual basis as of December 31 of each year or whenever events or circumstances suggest that the carrying value of an identifiable intangible asset may exceed the sum of the undiscounted cash flows expected to result from its use and eventual disposition. If this condition exists and the carrying value of an identifiable intangible asset exceeds its fair value, the excess is recognized as an impairment and is recorded as a charge against net income. Measuring intangible assets requires the use of estimates. Significant estimates include the projected net cash flow attributable to the intangible asset and the risk rate at which future net cash flows are discounted for purposes of estimating fair value, as applicable. See Note 10 for additional information regarding identifiable intangible assets. Investments in operating joint ventures are generally accounted for under the equity method. The carrying value of these investments is written down, or impaired, to fair value when a decline in value is considered to be other-than-temporary. See Note 9 for additional information on investments in operating joint ventures. Other liabilities consist primarily of trade payables, lease liabilities (see “ Other assets ” above), pension and other employee benefit liabilities (see Note 18), derivative liabilities (see “ Derivative Financial Instruments ” below), reinsurance payables (see “ Reinsurance ” below), and payables resulting from purchases of securities that had not yet settled at the balance sheet date.
Lessor, Leases	Leases are recorded on the balance sheet as “right-of-use” assets and lease liabilities within “Other assets” and “Other liabilities” respectively. Leases are classified as either operating or finance leases and lease expense is recognized within “General and administrative expenses.” As a lessee, for operating leases, total lease expense is recognized using a straight-line method. Finance leases are treated as the purchase of an asset on a financing basis. Additionally, as a lessor, for sales-type and direct financing leases, the Company derecognizes the carrying value of the leased asset that is considered to have been transferred to a lessee and records a lease receivable and residual asset (“receivable and residual” approach). See Note 11 for additional information regarding leases. Effective January 1, 2019, the Company adopted ASU 2016-02, Leases (Topic 842)
Lessee, Leases	Leases are recorded on the balance sheet as “right-of-use” assets and lease liabilities within “Other assets” and “Other liabilities” respectively. Leases are classified as either operating or finance leases and lease expense is recognized within “General and administrative expenses.” As a lessee, for operating leases, total lease expense is recognized using a straight-line method. Finance leases are treated as the purchase of an asset on a financing basis. Additionally, as a lessor, for sales-type and direct financing leases, the Company derecognizes the carrying value of the leased asset that is considered to have been transferred to a lessee and records a lease receivable and residual asset (“receivable and residual” approach). See Note 11 for additional information regarding leases. Effective January 1, 2019, the Company adopted ASU 2016-02, Leases (Topic 842)
Separate Account Assets and Liabilities	Separate account assets represent segregated funds that are invested for certain policyholders, pension funds and other customers. The assets consist primarily of equity securities, fixed maturities, real estate-related investments, real estate mortgage loans, short-term investments and derivative instruments and are reported at fair value. The assets of each account are legally segregated and are not subject to claims that arise out of any other business of the Company. Investment risks associated with market value changes are borne by the customers, except to the extent of minimum guarantees made by the Company with respect to certain accounts. The investment income and realized investment gains or losses from separate account assets generally accrue to the policyholders and are not included in the Company’s results of operations. Mortality, policy administration and surrender charges assessed against the accounts are included in “Policy charges and fee income.” Asset management fees charged to the accounts are included in “Asset management and service fees.” Seed money that the Company invests in separate accounts is reported in the appropriate general account asset line. Investment income and realized investment gains or losses from seed money invested in separate accounts accrue to the Company and are included in the Company’s results of operations. See Note 13 for additional information regarding separate account arrangements with contractual guarantees. See also “ Separate account liabilities” below. Separate account liabilities primarily represent the contractholder’s account balance in separate account assets and to a lesser extent borrowings of the separate account, and will be equal and offsetting to total separate account assets. See also “ Separate account assets” above.
Future Policy Benefits	Future policy benefits represent liabilities that primarily consist of the present value of estimated future payments to or on behalf of policyholders, where the timing and amount of payment depends on policyholder mortality or morbidity, less the present value of future net premiums. For individual traditional participating life insurance products, the mortality and interest rate assumptions applied are those used to calculate the policies’ guaranteed cash surrender values. For life insurance, other than individual traditional participating life insurance, and annuity and disability products, expected mortality and morbidity are generally based on Company experience, industry data and/or other factors. Interest rate assumptions are based on factors such as market conditions and expected investment returns. Although mortality, morbidity and interest rate assumptions are “locked-in” upon the issuance of new insurance or annuity business with fixed and guaranteed terms, significant changes in experience or assumptions may require the Company to provide for expected future losses on a product by recognizing a premium deficiency. A premium deficiency exists when the liability for future policy benefits plus the present value of expected future gross premiums are determined to be insufficient to provide for expected future policy benefits and expenses. If a premium deficiency is recognized, the assumptions without a provision for the risk of adverse deviation as of the premium deficiency test date are locked-in and used in subsequent valuations. The net reserves continue to be subject to premium deficiency testing. In determining if a premium deficiency related to short-duration contracts exists, the Company considers, among other factors, anticipated investment income. Any adjustments to future policy benefit reserves related to net unrealized gains on securities classified as available-for-sale are included in AOCI. In certain instances, the policyholder liability for a particular line of business may not be deficient in the aggregate to trigger loss recognition, but the pattern of earnings may be such that profits are expected to be recognized in earlier years followed by losses in later years. In these situations, accounting standards require that an additional liability (Profits Followed by Losses or “PFL” liability) be recognized by an amount necessary to sufficiently offset the losses that would be recognized in later years. Historically, PFL liabilities have been predominantly associated with certain universal life contracts that measure GAAP reserves using a dynamic approach, and accordingly, are updated each quarter, using current in-force and market data, and as part of the annual assumption update, such that the liability as of each measurement date represents the Company’s current estimate of the present value of the amount necessary to offset anticipated future losses. See Note 12 for additional information regarding future policy benefits. The Company’s liability for future policy benefits also includes a liability for unpaid claims and claim adjustment expenses. The Company does not establish claim liabilities until a loss has been incurred. However, unpaid claims and claim adjustment expenses include estimates of claims that the Company believes have been incurred but have not yet been reported as of the balance sheet date. The Company’s liability for future policy benefits also includes net liabilities for guarantee benefits related to certain long-duration life and annuity contracts, which are discussed more fully in Note 13, and deferred profits.
Policyholders' Account Balances	Policyholders’ account balances represents the contract value that has accrued to the benefit of the policyholder as of the balance sheet date. This liability is primarily associated with the accumulated account deposits, plus interest credited, less policyholder withdrawals and other charges assessed against the account balance, as applicable. These policyholders’ account balances also include provision for benefits under non-life contingent payout annuities and certain unearned revenues. See Note 12 for additional information regarding policyholders’ account balances. Policyholders’ account balances also includes amounts representing the fair value of embedded derivative instruments associated with the index-linked features of certain universal life and annuity products. For additional information regarding the valuation of these embedded derivatives, see Note 6.
Policyholders' Dividends	Policyholders’ dividends includes dividends payable to policyholders and the policyholder dividend obligation associated with the participating policies included in the Closed Block. The dividends payable for participating policies included in the Closed Block are determined at the end of each year for the following year by the Board of Directors of The Prudential Insurance Company of America (“PICA”) based on its statutory results, capital position, ratings, and the emerging experience of the Closed Block. The policyholder dividend obligation represents amounts expected to be paid to Closed Block policyholders as an additional policyholder dividend unless otherwise offset by future Closed Block performance. Any adjustments to the policyholder dividend obligation related to net unrealized gains (losses) on securities classified as available-
Securities repurchase and resale agreements and securities loaned transactions	Securities sold under agreements to repurchase represent liabilities associated with securities repurchase agreements that are used primarily to earn spread income. As part of securities repurchase agreements, the Company transfers U.S. government and government agency securities to a third-party and receives cash as collateral. For securities repurchase agreements, the cash received is typically invested in cash equivalents, short-term investments or fixed maturities. Receivables associated with securities purchased under agreements to resell are generally reflected as cash equivalents. As part of securities resale agreements, the Company invests cash and receives as collateral U.S. government securities or other debt securities. Securities repurchase and resale agreements that satisfy certain criteria are treated as secured borrowing or secured lending arrangements. These agreements are carried at the amounts at which the securities will be subsequently resold or reacquired, as specified in the respective transactions. For securities purchased under agreements to resell, the Company’s policy is to take possession or control of the securities either directly or through a third-party custodian. These securities are valued daily and additional securities or cash collateral is received, or returned, when appropriate to protect against credit exposure. Securities to be resold are the same, or substantially the same, as the securities received. The majority of these transactions are with large brokerage firms and large banks. For securities sold under agreements to repurchase, the market value of the securities to be repurchased is monitored, and additional collateral is obtained where appropriate, to protect against credit exposure. The Company obtains collateral in an amount at least equal to 95% of the fair value of the securities sold. Securities to be repurchased are the same, or substantially the same, as those sold. The majority of these transactions are with highly rated money market funds. Income and expenses related to these transactions executed within the insurance companies used to earn spread income are reported as “Net investment income.” Cash collateral for loaned securities represent liabilities to return cash proceeds from security lending transactions. Securities lending transactions are used primarily to earn spread income. As part of securities lending transactions, the Company transfers U.S. and foreign debt and equity securities, as well as U.S. government and government agency securities, and receives cash as collateral. Cash proceeds from securities lending transactions are primarily used to earn spread income, and are typically invested in cash equivalents, short-term investments or fixed maturities. Securities lending transactions are treated as financing arrangements and are recorded at the amount of cash received. The Company obtains collateral in an amount equal to 102% and 105% of the fair value of the domestic and foreign securities, respectively. The Company monitors the market value of the securities loaned on a daily basis with additional collateral obtained as necessary. Substantially all of the Company’s securities lending transactions are with large brokerage firms and large banks. Income and expenses associated with securities lending transactions used to earn spread income are reported as “Net investment income.”
Income Taxes	Income taxes primarily represents the net deferred tax liability and the Company’s estimated taxes payable for the current year and open audit years. The Company and its includible domestic subsidiaries file a consolidated federal income tax return that includes both life insurance companies and non-life insurance companies. Certain other domestic subsidiaries file separate tax returns. Subsidiaries operating outside the U.S. are taxed, and income tax expense is recorded, based on applicable foreign statutes. See Note 16 for a discussion of certain non-U.S. jurisdictions for which the Company assumes repatriation of earnings. Items required by tax regulations to be included in the tax return may differ from the items reflected in the financial statements. As a result, the effective tax rate reflected in the financial statements may be different than the actual rate applied on the tax return. Some of these differences are permanent such as expenses that are not deductible in the Company’s tax return, and some differences are temporary, reversing over time, such as valuation of insurance reserves. Temporary differences create deferred tax assets and liabilities. Deferred tax assets generally represent items that can be used as a tax deduction or credit in future years for which the Company has already recorded the tax benefit in the Company’s Consolidated Statements of Operations. Deferred tax liabilities generally represent tax expense recognized in the Company’s financial statements for which payment has been deferred, or expenditures for which the Company has already taken a deduction in the Company’s tax return but have not yet been recognized in the Company’s financial statements. Deferred income taxes are recognized, based on enacted rates, when assets and liabilities have different values for financial statement and tax reporting purposes. The application of U.S. GAAP requires the Company to evaluate the recoverability of the Company’s deferred tax assets and establish a valuation allowance if necessary to reduce the Company’s deferred tax assets to an amount that is more likely than not expected to be realized. Considerable judgment is required in determining whether a valuation allowance is necessary, and if so, the amount of such valuation allowance. See Note 16 for a discussion of factors considered when evaluating the need for a valuation allowance. The U.S. Tax Cuts and Jobs Act of 2017 (“Tax Act of 2017”) included two new tax provisions that could impact the Company’s effective tax rate and cash tax payments. The Base Erosion and Anti-Abuse Tax (“BEAT”) taxes modified taxable income, starting at a rate of 10% in 2019 and increasing to 12.5% in 2026, and is due if the calculated BEAT amount that is determined without the benefit of foreign and certain tax credits is greater than the regular corporate tax in any given year. In general, modified taxable income is calculated by adding back to a taxpayer’s regular taxable income the amount of certain “base erosion tax benefits” with respect to payments to foreign affiliates, as well as the “base erosion percentage” of any net operating loss deductions. Final Regulations confirmed that benefit and claim payments made by our U.S. insurance business to our foreign affiliates on reinsurance assumed by the U.S. affiliates are not base erosion payments. The Global Intangible Low-Taxed Income (“GILTI”) provision applies a minimum U.S. tax to earnings of consolidated foreign subsidiaries in excess of a 10% deemed return on tangible assets of foreign subsidiaries by imposing the U.S. tax rate to 50% of earnings of such foreign affiliates and provides for a partial foreign tax credit for foreign income taxes. The amount of tax in any period on GILTI can depend on annual differences between U.S. taxable income recognition rules and taxable income recognition rules in the country of operations and the overall taxable income of U.S. operations, as well as U.S. expense allocation rules which limit the amount of foreign tax credits that can be applied to reduce the U.S. tax on the GILTI provision. Under certain circumstances, the taxable income of U.S. operations may cause more than 50% of earnings of foreign affiliates to be subject to the GILTI provision. In years that the PFI consolidated federal income tax return reports a net operating loss or has a loss attributable to U.S. sources of operations, the GILTI provision would cause a loss of U.S. tax benefits for some or all of those losses, effectively increasing the tax on foreign earnings. The Company accounts for the effects of the BEAT and GILTI provisions as a period cost if and when incurred. In December of 2017, Securities and Exchange Commission (“SEC”) staff issued “SAB 118, Income Tax Accounting Implications of the Tax Cuts and Jobs Act” (“SAB 118”), which allowed registrants to record provisional amounts during a “measurement period” not to extend beyond one year. Under the relief provided by SAB 118, a company could recognize provisional amounts when it did not have the necessary information available, prepared or analyzed in reasonable detail to complete its accounting for the change in tax law. See Note 16 for a discussion of refinements to the provisional amount related to the Tax Act of 2017 included in “Total income tax expense (benefit) before equity in earnings of operating joint ventures” in 2018. U.S. GAAP prescribes a comprehensive model for how a company should recognize, measure, present, and disclose in its financial statements uncertain tax positions that a company has taken or expects to take on tax returns. The application of this guidance is a two-step process. First, the Company determines whether it is more likely than not, based on the technical merits, that the tax position will be sustained upon examination. If a tax position does not meet the more likely than not recognition threshold, the benefit of that position is not recognized in the financial statements. The second step is measurement. The Company measures the tax position as the largest amount of benefit that is greater than 50 percent likely to be realized upon ultimate resolution with a taxing authority that has full knowledge of all relevant information. This measurement considers the amounts and probabilities of the outcomes that could be realized upon ultimate settlement using the facts, circumstances, and information available at the reporting date. The Company’s liability for income taxes includes a liability for unrecognized tax benefits, interest and penalties which relate to tax years still subject to review by the Internal Revenue Service (“IRS”) or other taxing jurisdictions. Audit periods remain open for review until the statute of limitations has passed. Generally, for tax years which produce net operating losses, capital losses or tax credit carryforwards (“tax attributes”), the statute of limitations does not close, to the extent of these tax attributes, until the expiration of the statute of limitations for the tax year in which they are fully utilized. The completion of review or the expiration of the statute of limitations for a given audit period could result in an adjustment to the liability for income taxes. The Company classifies all interest and penalties related to tax uncertainties as income tax expense. See Note 16 for additional information regarding income taxes. Effective January 1, 2018, the Company adopted ASU 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income (Loss) , which allowed a reclassification from AOCI to retained earnings for stranded effects resulting from the Tax Act of 2017. The Company elected to apply the ASU subsequent to recording the adoption impacts of ASU 2016-01 as described above. As a result, the Company reclassified stranded effects resulting from the Tax Act of 2017 by increasing AOCI and decreasing retained earnings, each by $1,653 million upon adoption on January 1, 2018. Stranded effects unrelated to the Tax Act of 2017 are generally released from AOCI when an entire portfolio of the type of item related to the stranded effect is liquidated, sold or extinguished (i.e., portfolio approach).
Short-Term and Long-Term Debt	Short-term and long-term debt liabilities are primarily carried at an amount equal to unpaid principal balance, net of unamortized discount or premium and debt issue costs. Original-issue discount or premium and debt-issue costs are recognized as a component of interest expense over the period the debt is expected to be outstanding, using the interest method of amortization. Interest expense is generally presented within “General and administrative expenses” in the Company’s Consolidated Statements of Operations. Interest expense may also be reported within “Net investment income” for certain activity, as prescribed by specialized industry guidance. Short-term debt is debt coming due in the next twelve months, including that portion of debt otherwise classified as long-term. The short-term debt caption may exclude short-term debt items for which the Company has the intent and ability to refinance on a long-term basis in the near-term. See Note 17 for additional information regarding short-term and long-term debt.
Contingent Liabilities	Commitments and contingent liabilities are accrued if it is probable that a liability has been incurred and an amount is reasonably estimable. Management evaluates whether there are incremental legal or other costs directly associated with the ultimate resolution of the matter that are reasonably estimable and, if so, they are included in the accrual. These accruals are generally reported in “Other liabilities.”
Insurance Revenue and Expense Recognition	Insurance Revenue and Expense Recognition Premiums from individual life products, other than universal and variable life contracts, and health insurance and long-term care products are recognized when due. When premiums are due over a significantly shorter period than the period over which benefits are provided, any gross premium in excess of the net premium (i.e., the portion of the gross premium required to provide for all expected future benefits and expenses) is generally deferred and recognized into revenue in a constant relationship to insurance in force. Benefits are recorded as an expense when they are incurred. A liability for future policy benefits is recorded when premiums are recognized using the net level premium valuation methodology. Premiums from non-participating group annuities with life contingencies, single premium structured settlements with life contingencies and single premium immediate annuities with life contingencies are recognized when due. When premiums are due over a significantly shorter period than the period over which benefits are provided, any gross premium in excess of the net premium is generally deferred and recognized into revenue based on expected future benefit payments. Benefits are recorded as an expense when they are incurred. A liability for future policy benefits is recorded when premiums are recognized using the net level premium valuation methodology. Certain individual annuity contracts provide the contractholder a guarantee that the benefit received upon death or annuitization will be no less than a minimum prescribed amount. These benefits are accounted for as insurance contracts. The Company also provides contracts with certain living benefits which are considered embedded derivatives. See Note 13 for additional information regarding these contracts and Note 6 for information regarding the valuation of these embedded derivatives. Amounts received as payment for universal or variable group and individual life contracts, deferred fixed or variable annuities, structured settlements and other contracts without life contingencies, and participating group annuities are reported as deposits to “Policyholders’ account balances” and/or “Separate account liabilities.” Revenues from these contracts are reflected in “Policy charges and fee income” consisting primarily of fees assessed during the period against the policyholders’ account balances for mortality and other benefit charges, policy administration charges and surrender charges. In addition to fees, the Company earns investment income from the investment of deposits in the Company’s general account portfolio. Fees assessed that represent compensation to the Company for services to be provided in future periods and certain other fees are generally deferred and amortized into revenue over the life of the related contracts in proportion to estimated gross profits. Benefits and expenses for these products include claims in excess of related account balances, expenses of contract administration, interest credited to policyholders’ account balances and amortization of DAC, DSI and VOBA. Policyholders’ account balances also includes amounts representing the fair value of embedded derivative instruments associated with the index-linked features of certain universal life and annuity products. For additional information regarding the valuation of these embedded derivatives, see Note 6. For group life, other than universal and variable group life contracts, and disability insurance, premiums are generally recognized over the period to which the premiums relate in proportion to the amount of insurance protection provided. Claim and claim adjustment expenses are recognized when incurred.
Asset Management and Service Fees	Asset management and service fees principally includes asset-based asset management fees, which are recognized in the period in which the services are performed. In certain asset management fee arrangements, the Company is entitled to receive performance-based incentive fees when the return on assets under management exceeds certain benchmark returns or other performance targets. The Company may be required to return all, or part, of such performance-based incentive fees depending on future performance of these assets relative to performance benchmarks. The Company records performance-based incentive fee revenue when the contractual terms of the asset management fee arrangement have been satisfied and it is probable that a significant reversal in the amount of the fee will not occur. Under this principle the Company records a deferred performance-based incentive fee liability to the extent it receives cash related to the performance-based incentive fee prior to meeting the revenue recognition criteria delineated above.
Other Income	Other income (loss) includes realized and unrealized gains or losses from investments classified “Fixed maturities, trading, at fair value,” “Assets supporting experience-rated contractholder liabilities, at fair value,” “Equity securities, at fair value,” and “Other invested assets” that are measured at fair value and consolidated entities that follow specialized investment company fair value accounting. “Other income (loss)” also includes gains and losses primarily related to the remeasurement of foreign currency denominated assets and liabilities, as discussed in more detail under “ Foreign Currency ” below. Additionally, for digital insurance brokerage placement services provided by Assurance IQ, the Company earns both initial and renewal commissions as compensation for the placement of insurance policies with insurance carriers. At the effective date of the policy, the Company records within “Other income (loss)” the expected lifetime revenue for the initial and renewal commissions considering estimates of the timing of future policy cancelations. These estimates are reassessed each reporting period and any changes in estimates are reflected in the current period.
Share-Based Payments	Share-Based Payments The Company applies the fair value-based measurement method in accounting for share-based payment transactions with employees except for equity instruments held by employee share ownership plans. Excess tax benefits (deficits) are recorded in earnings and represent the cumulative difference between the actual tax benefit realized and the amount of deferred tax assets recorded attributable to shared-based payment transactions. The Company accounts for non-employee stock options using the fair value method in accordance with authoritative guidance and related interpretations on accounting for equity instruments that are issued to other than employees for acquiring, or in conjunction with selling, goods or services.
Earnings Per Share	Earnings Per Share Earnings per share of Common Stock for 2020, 2019 and 2018 reflects the consolidated earnings of Prudential Financial. Basic earnings per share is computed by dividing available income attributable to common shareholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share includes the effect of all dilutive potential common shares that were outstanding during the period. See Note 20 for additional information.
Foreign Currency	Foreign Currency The currency in which the Company prepares its financial statements (the “reporting currency”) is the U.S. dollar. Assets, liabilities and results of foreign operations are recorded based on the functional currency of each foreign operation. The determination of the functional currency is based on economic facts and circumstances pertaining to each foreign operation. The local currencies of the Company’s foreign operations are typically their functional currencies with the most significant exception being the Company’s Japanese operations where multiple functional currencies exist. There are two distinct processes for expressing these foreign transactions and balances in the Company’s financial statements: foreign currency measurement and foreign currency translation. Foreign currency measurement is the process by which transactions in foreign currencies are expressed in the functional currency. Gains and losses resulting from foreign currency measurement are reported in current earnings in “Other income (loss).” Foreign currency translation is the process of expressing a foreign entity’s functional currency financial statements in the reporting currency. Assets and liabilities of foreign operations and subsidiaries reported in currencies other than U.S. dollars are translated at the exchange rate in effect at the end of the period. Revenues, benefits and other expenses are translated at the average rate prevailing during the period. The effects of translating the statements of operations and financial position of non-U.S. entities with functional currencies other than the U.S. dollar are included, net of related qualifying hedge gains and losses and income taxes, in “Foreign currency translation adjustment,” a component of AOCI.
Derivative Financial Instruments	Derivative Financial Instruments Derivatives are financial instruments whose values are derived from interest rates, foreign exchange rates, financial indices, values of securities or commodities, credit spreads, market volatility, expected returns, and liquidity. Values can also be affected by changes in estimates and assumptions, including those related to counterparty behavior and non-performance risk (“NPR”) used in valuation models. Derivative financial instruments generally used by the Company include swaps, futures, forwards and options and may be exchange-traded or contracted in the over-the-counter (“OTC”) market. Certain of the Company’s OTC derivatives are cleared and settled through central clearing counterparties (OTC-cleared), while others are bilateral contracts between two counterparties (OTC-bilateral). Derivative positions are carried at fair value, generally by obtaining quoted market prices or through the use of valuation models. Derivatives are used to manage the interest rate and currency characteristics of assets or liabilities and to mitigate volatility of expected non-functional currency earnings and net investments in foreign operations resulting from changes in currency exchange rates. Additionally, derivatives may be used to seek to reduce exposure to interest rate, credit, foreign currency and equity risks associated with assets held or expected to be purchased or sold, and liabilities incurred or expected to be incurred. As discussed in detail below, and in Note 5, all realized and unrealized changes in fair value of derivatives are recorded in current earnings, with the exception of cash flow hedges and hedges of net investments in foreign operations. The Company may also enter into intercompany derivatives, the results of which ultimately eliminate in consolidation over the term of the instrument; however, where applicable, derivative results are included in business gross profits which may impact the pattern by which DAC and other assets are amortized. Cash flows from derivatives are reported in the operating, investing, or financing activities sections in the Consolidated Statements of Cash Flows based on the nature and purpose of the derivative. Derivatives are recorded either as assets, within “Other invested assets,” or as liabilities, within “Other liabilities,” except for embedded derivatives which are recorded with the associated host contract. The Company nets the fair value of all derivative financial instruments with counterparties for which a master netting arrangement has been executed. The Company designates derivatives as either (1) a hedge of the fair value of a recognized asset or liability or unrecognized firm commitment (“fair value” hedge); (2) a hedge of a forecasted transaction or of the variability of cash flows to be received or paid related to a recognized asset or liability (“cash flow” hedge); (3) a foreign currency fair value or cash flow hedge (“foreign currency” hedge); (4) a hedge of a net investment in a foreign operation; or (5) a derivative that does not qualify for hedge accounting. To qualify for hedge accounting treatment, a derivative must be highly effective in mitigating the designated risk of the hedged item. Effectiveness of the hedge is formally assessed at inception and throughout the life of the hedging relationship. The Company formally documents at inception all relationships between hedging instruments and hedged items, as well as its risk-management objective and strategy for undertaking various hedge transactions. This process includes linking all derivatives designated as fair value, cash flow, or foreign currency hedges to specific assets and liabilities on the balance sheet or to specific firm commitments or forecasted transactions. Hedges of a net investment in a foreign operation are linked to the specific foreign operation. When a derivative is designated as a fair value hedge and is determined to be highly effective, changes in its fair value, along with changes in the fair value of the hedged asset or liability (including losses or gains on firm commitments), are reported on a net basis in the Consolidated Statements of Operations, generally in “Realized investment gains (losses), net.” When swaps are used in hedge accounting relationships, periodic settlements are recorded in the same Consolidated Statements of Operations line as the related settlements of the hedged items. When a derivative is designated as a cash flow hedge and is determined to be highly effective, changes in its fair value are recorded in AOCI until earnings are affected by the variability of cash flows being hedged (e.g., when periodic settlements on a variable-rate asset or liability are recorded in earnings). At that time, the related portion of deferred gains or losses on the derivative instrument is reclassified and reported in the Consolidated Statements of Operations line item associated with the hedged item. When a derivative is designated as a foreign currency hedge and is determined to be highly effective, changes in its fair value are recorded either in current period earnings if the hedge transaction is a fair value hedge (e.g., a hedge of a recognized foreign currency asset or liability) or in AOCI if the hedge transaction is a cash flow hedge (e.g., a foreign currency denominated forecasted transaction). When a derivative is used as a hedge of a net investment in a foreign operation, its change in fair value is accounted for in the same manner as a translation adjustment (i.e., reported in the cumulative translation adjustment account within AOCI). If it is determined that a derivative no longer qualifies as an effective fair value or cash flow hedge or management removes the hedge designation, the derivative will continue to be carried on the balance sheet at its fair value, with changes in fair value recognized currently in “Realized investment gains (losses), net.” In this scenario, the hedged asset or liability under a fair value hedge will no longer be adjusted for changes in fair value and the existing basis adjustment is amortized to the Consolidated Statements of Operations line associated with the asset or liability. The component of AOCI related to discontinued cash flow hedges is reclassified to the Consolidated Statements of Operations line associated with the hedged cash flows consistent with the earnings impact of the original hedged cash flows. When hedge accounting is discontinued because the hedged item no longer meets the definition of a firm commitment, or because it is probable that the forecasted transaction will not occur by the end of the specified time period, the derivative will continue to be carried on the balance sheet at its fair value, with changes in fair value recognized currently in “Realized investment gains (losses), net.” Any asset or liability that was recorded pursuant to recognition of the firm commitment is removed from the balance sheet and recognized currently in “Realized investment gains (losses), net.” Gains and losses that were in AOCI pursuant to the cash flow hedge of a forecasted transaction are recognized immediately in “Realized investment gains (losses), net.” If a derivative does not qualify for hedge accounting, all changes in its fair value, including net receipts and payments, are included in “Realized investment gains (losses), net” without considering changes in the fair value of the economically associated assets or liabilities. The Company is a party to financial instruments that contain derivative instruments that are “embedded” in the financial instruments. At inception, the Company assesses whether the economic characteristics of the embedded instrument are clearly and closely related to the economic characteristics of the remaining component of the financial instrument (i.e., the host contract) and whether a separate instrument with the same terms as the embedded instrument would meet the definition of a derivative instrument. When it is determined that (1) the embedded instrument possesses economic characteristics that are not clearly and closely related to the economic characteristics of the host contract and (2) a separate instrument with the same terms would qualify as a derivative instrument, the embedded instrument qualifies as an embedded derivative that is separated from the host contract, carried at fair value, and changes in its fair value are included in “Realized investment gains (losses), net.” For certain financial instruments that contain an embedded derivative that otherwise would need to be bifurcated and reported at fair value, the Company may elect to carry the entire instrument at fair value and report it within “Other invested assets” or “Other liabilities.”
Reinsurance	Reinsurance For each of its reinsurance contracts, the Company determines if the contract provides indemnification against loss or liability relating to insurance risk in accordance with applicable accounting standards. The Company reviews all contractual features, particularly those that may limit the amount of insurance risk to which the reinsurer is subject or features that delay the timely reimbursement of claims. The Company participates in reinsurance arrangements in various capacities as either the ceding entity or as the reinsurer (i.e., assuming entity). See Note 14 for additional information about the Company’s reinsurance arrangements. Reinsurance assumed business is generally accounted for consistent with direct business. Amounts currently recoverable under reinsurance agreements are included in “Other assets” and amounts payable are included in “Other liabilities.” Revenues and benefits and expenses include amounts assumed under reinsurance agreements and are reflected net of reinsurance ceded. Reinsurance ceded arrangements do not discharge the Company as the primary insurer. Ceded balances would represent a liability of the Company in the event the reinsurers were unable to meet their obligations to the Company under the terms of the reinsurance agreements. Reinsurance recoverables are reported net of the CECL allowance. The CECL allowance considers the credit quality of the reinsurance counterparty and is generally determined based on the probability of default and loss given default assumptions, after considering any applicable collateral arrangements. Additions to or releases of the allowance are reported in “Policyholders’ benefits”. Prior to the adoption of ASU 2016-13, an allowance for credit losses for reinsurance recoverables was established only when it was deemed probable that a reinsurer may fail to make payments to us in a timely manner . Reinsurance premiums, commissions, expense reimbursements, benefits and reserves related to reinsured long-duration contracts under coinsurance arrangements are accounted for over the life of the underlying reinsured contracts using assumptions consistent with those used to account for the underlying contracts. Coinsurance arrangements contrast with the Company’s yearly renewable term arrangements, where only mortality risk is transferred to the reinsurer and premiums are paid to the reinsurer to reinsure that risk . The mortality risk that is reinsured under yearly renewable term arrangements represents the difference between the stated death benefits in the underlying reinsured contracts and the corresponding reserves or account value carried by the Company on those same contracts. The premiums paid to the reinsurer are based upon negotiated amounts, not on the actual premiums paid by the underlying contract holders to the Company. As yearly renewable term arrangements are usually entered into by the Company with the expectation that the contracts will be in force for the lives of the underlying policies, they are considered to be long-duration reinsurance contracts. The cost of reinsurance for universal life products is generally recognized based on the gross assessments of the underlying direct policies. The cost of reinsurance for term insurance products is generally recognized in proportion to yearly renewable term premiums over the life of the underlying policies. The cost of reinsurance related to short-duration reinsurance contracts is accounted for over the reinsurance contract period.
Adoption of New Accounting Pronouncements	Adoption of ASU 2016-13 The Company adopted ASU 2016-13, and related ASUs, effective January 1, 2020 using the modified retrospective method for certain financial assets carried at amortized cost and certain off-balance sheet exposures. The modified retrospective method results in a cumulative effect adjustment to opening retained earnings. The Company adopted the guidance related to fixed maturities, available-for-sale on a prospective basis. This ASU requires the use of a new current expected credit loss (“CECL”) model to account for expected credit losses on certain financial assets reported at amortized cost (e.g., loans held for investment, fixed maturities held-to-maturity, reinsurance receivables, etc.) and certain off-balance sheet credit exposures (e.g., indemnification of serviced mortgage loans and certain loan commitments). The guidance requires an entity to estimate lifetime credit losses related to such financial assets and credit exposures based on relevant information about past events, current conditions, and reasonable and supportable forecasts that may affect the collectability of the reported amounts. The standard also modifies the OTTI guidance for fixed maturities, available-for-sale requiring the use of an allowance rather than a direct write-down of the investment. The impacts of this ASU on the Company’s Consolidated Financial Statements primarily include (1) A Cumulative Effect Adjustment Upon Adoption; (2) Changes to the Presentation of the Consolidated Statements of Financial Position and Consolidated Statements of Operations; and (3) Changes to Accounting Policies. Each of these impacts is described below. (1) Cumulative Effect Adjustment Upon Adoption Summary of Transition Impact on the Consolidated Statements of Financial Position Upon Adoption on January 1, 2020 Increase/(Decrease) (in millions) Fixed maturities, held-to-maturity $ (9) Commercial mortgage and other loans (115) Other invested assets (1) Deferred policy acquisition costs 9 Other assets (6) Total assets $ (122) Policyholders' dividends $ (14) Other liabilities 21 Income taxes (30) Total liabilities (23) Retained earnings (99) Total equity (99) Total liabilities and equity $ (122) The prospective adoption of the portions of the standard related to fixed maturities, available-for-sale resulted in no impact to opening retained earnings. Other ASUs adopted during the year ended December 31, 2020 Standard Description Effective date and method of adoption Effect on the financial statements or other significant matters ASU 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment This ASU simplifies the subsequent measurement of goodwill by eliminating Step 2 from the goodwill impairment test, which measures a goodwill impairment by comparing the implied fair value of a reporting unit’s goodwill with the carrying amount of the goodwill. Under the ASU, a goodwill impairment should be recorded for the amount by which the carrying amount of a reporting unit exceeds its fair value (capped by the total amount of goodwill allocated to the reporting unit). January 1, 2020 using the prospective method. The adoption of the ASU did not have a significant impact on the Company’s Consolidated Financial Statements and Notes to the Consolidated Financial Statements. ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting This ASU provides optional relief for certain contracts impacted by reference rate reform. The standard permits an entity to consider contract modification due to reference rate reform to be an event that does not require contract remeasurement at the modification date or reassessment of a previous accounting determination. The ASU also temporarily (until December 31, 2022) allows hedge relationships to continue without de-designation upon changes due to reference rate reform. March 12, 2020 to December 31, 2022 using the prospective method. This ASU did not have a significant impact on the Company’s Consolidated Financial Statements and Notes to the Consolidated Financial Statements.
Future Adoption Of New Accounting Pronouncements	ASU issued but not yet adopted as of December 31, 2020 — ASU 2018-12 ASU 2018-12, Financial Services—Insurance (Topic 944): Targeted Improvements to the Accounting for Long-Duration Contracts , was issued by the FASB on August 15, 2018 and is expected to have a significant impact on the Consolidated Financial Statements and Notes to the Consolidated Financial Statements. In October 2019, the FASB issued ASU 2019-09, Financial Services - Insurance (Topic 944): Effective Date to affirm its decision to defer the effective date of ASU 2018-12 to January 1, 2022 (with early adoption permitted), representing a one year extension from the original effective date of January 1, 2021. As a result of the COVID-19 pandemic, in November 2020 the FASB issued ASU 2020-11, Financial Services—Insurance (Topic 944): Effective Date and Early Application to defer for an additional one year the effective date of ASU 2018-12 from January 1, 2022 to January 1, 2023, and to provide transition relief to facilitate the early adoption of the ASU. The transition relief would allow large calendar-year public companies that early adopt ASU 2018-12 to apply the guidance either as of January 1, 2020 or January 1, 2021 (and record transition adjustments as of January 1, 2020 or January 1, 2021, respectively) in the 2022 financial statements. Companies that do not early adopt ASU 2018-12 would apply the guidance as of January 1, 2021 (and record transition adjustments as of January 1, 2021) in the 2023 financial statements. The Company currently intends to adopt ASU 2018-12 effective January 1, 2023. ASU 2018-12 will impact, at least to some extent, the accounting and disclosure requirements for all long-duration insurance and investment contracts issued by the Company. Outlined below are four key areas of change, although there are other less significant changes not noted below. In addition to the impacts to the balance sheet upon adoption, the Company also expects an impact to how earnings emerge thereafter. ASU 2018-12 Amended Topic Description Method of adoption Effect on the financial statements or other significant matters Cash flow assumptions used to measure the liability for future policy benefits for non-participating traditional and limited-pay insurance products Requires an entity to review, and if necessary, update the cash flow assumptions used to measure the liability for future policy benefits, for both changes in future assumptions and actual experience, at least annually using a retrospective update method with a cumulative catch-up adjustment recorded in a separate line item in the Consolidated Statements of Operations. An entity may choose one of two adoption methods for the liability for future policy benefits: (1) a modified retrospective transition method whereby the entity may choose to apply the amendments to contracts in force as of the beginning of the prior year (if early adoption is elected) or as of the beginning of the earliest period presented on the basis of their existing carrying amounts, adjusted for the removal of any related amounts in Accumulated other comprehensive income (loss) (“AOCI”) or (2) a full retrospective transition method. The options for method of adoption and the impacts of such methods are under assessment. Discount rate assumption used to measure the liability for future policy benefits for non-participating traditional and limited-pay insurance products Requires discount rate assumptions to be based on an upper-medium grade fixed income instrument yield, which will be updated each quarter with the impact recorded through OCI. An entity shall maximize the use of relevant observable information and minimize the use of unobservable information in determining the discount rate assumptions. As noted above, an entity may choose either a modified retrospective transition method or full retrospective transition method for the liability for future policy benefits. Under either method, for balance sheet remeasurement purposes, the liability for future policy benefits will be remeasured using current discount rates as of either the beginning of the prior year (if early adoption is elected) or the beginning of the earliest period presented with the impact recorded as a cumulative effect adjustment to AOCI. Upon adoption, under either transition method, there will be an adjustment to AOCI as a result of remeasuring in-force contract liabilities using current upper-medium grade fixed income instrument yields. The adjustment upon adoption will largely reflect the difference between discount rates locked-in at contract inception versus current discount rates at transition. The magnitude of such adjustment is currently being assessed. Amortization of deferred acquisition costs (DAC) and other balances Requires DAC and other balances, such as unearned revenue reserves and DSI, to be amortized on a constant level basis over the expected term of the related contract, independent of expected profitability. An entity may apply one of two adoption methods: (1) a modified retrospective transition method whereby the entity may choose to apply the amendments to contracts in force as of the beginning of the prior year (if early adoption is elected) or as of the beginning of the earliest period presented on the basis of their existing carrying amounts, adjusted for the removal of any related amounts in AOCI or (2) if an entity chooses a full retrospective transition method for its liability for future policy benefits, as described above, it is required to also use a full retrospective transition method for DAC and other balances. The options for method of adoption and the impacts of such methods are under assessment. Under the modified retrospective transition method, the Company would not expect a significant impact to the balance sheet, other than the impact of the removal of any related amounts in AOCI. Market Risk Benefits (“MRB”) Requires an entity to measure all market risk benefits (e.g., living benefit and death benefit guarantees associated with variable annuities) at fair value, and record MRB assets and liabilities separately on the Consolidated Statements of Financial Position. Changes in fair value of market risk benefits are recorded in net income, except for the portion of the change in MRB liabilities attributable to changes in an entity’s NPR, which is recognized in OCI. An entity shall adopt the guidance for market risk benefits using the retrospective transition method, which includes a cumulative effect adjustment on the balance sheet as of either the beginning of prior year (if early adoption is elected) or the beginning of the earliest period presented. An entity shall maximize the use of relevant observable information and minimize the use of unobservable information in determining the balance of the market risk benefits upon adoption. Upon adoption, the Company expects an impact to retained earnings for the difference between the fair value and carrying value of benefits not currently measured at fair value (e.g., guaranteed minimum death benefits on variable annuities) and an impact from reclassifying the cumulative effect of changes in NPR from retained earnings to AOCI. The magnitude of such adjustments is currently being assessed.

Significant Accounting Polici_3

Significant Accounting Policies and Pronouncements (Tables)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Summary of Transition Impact	(1) Cumulative Effect Adjustment Upon Adoption Summary of Transition Impact on the Consolidated Statements of Financial Position Upon Adoption on January 1, 2020 Increase/(Decrease) (in millions) Fixed maturities, held-to-maturity $ (9) Commercial mortgage and other loans (115) Other invested assets (1) Deferred policy acquisition costs 9 Other assets (6) Total assets $ (122) Policyholders' dividends $ (14) Other liabilities 21 Income taxes (30) Total liabilities (23) Retained earnings (99) Total equity (99) Total liabilities and equity $ (122)

Investments (Tables)

Investments (Tables)	12 Months Ended
	Dec. 31, 2020
Investments [Abstract]
Fixed Maturities, Available-for-sale Securities	The following tables set forth the composition of fixed maturity securities (excluding investments classified as trading), as of the dates indicated: December 31, 2020 Amortized Gross Gross Allowance for Credit Losses Fair (in millions) Fixed maturities, available-for-sale: U.S. Treasury securities and obligations of U.S. government authorities and agencies $ 30,766 $ 9,699 $ 17 $ 0 $ 40,448 Obligations of U.S. states and their political subdivisions 10,668 2,144 1 0 12,811 Foreign government bonds 94,110 16,373 239 0 110,244 U.S. public corporate securities 95,299 18,516 213 47 113,555 U.S. private corporate securities(1) 36,894 4,196 134 19 40,937 Foreign public corporate securities 25,857 3,768 64 24 29,537 Foreign private corporate securities 28,668 3,183 226 33 31,592 Asset-backed securities(2) 14,489 176 74 0 14,591 Commercial mortgage-backed securities 15,036 1,288 11 10 16,303 Residential mortgage-backed securities(3) 2,683 205 1 0 2,887 Total fixed maturities, available-for-sale(1) $ 354,470 $ 59,548 $ 980 $ 133 $ 412,905 __________ (1) Excludes notes with amortized cost of $5,966 million (fair value, $6,100 million), which have been offset with the associated debt under a netting agreement. (2) Includes credit-tranched securities collateralized loan obligations, auto loans, education loans, home equity and other asset types. (3) Includes publicly-traded agency pass-through securities and collateralized mortgage obligations. (4) Excludes notes with amortized cost of $4,998 million (fair value, $5,821 million), which have been offset with the associated debt under a netting agreement. December 31, 2019 Amortized Gross Gross Fair OTTI (in millions) Fixed maturities, available-for-sale: U.S. Treasury securities and obligations of U.S. government authorities and agencies $ 30,625 $ 5,195 $ 161 $ 35,659 $ 0 Obligations of U.S. states and their political subdivisions 10,068 1,437 8 11,497 0 Foreign government bonds 98,356 20,761 63 119,054 (34) U.S. public corporate securities 87,566 11,030 257 98,339 (6) U.S. private corporate securities(1) 34,410 2,243 120 36,533 0 Foreign public corporate securities 26,841 3,054 70 29,825 (1) Foreign private corporate securities 27,619 1,201 580 28,240 0 Asset-backed securities(2) 13,067 147 40 13,174 (77) Commercial mortgage-backed securities 14,978 610 14 15,574 0 Residential mortgage-backed securities(3) 3,044 159 2 3,201 (1) Total fixed maturities, available-for-sale(1) $ 346,574 $ 45,837 $ 1,315 $ 391,096 $ (119) __________ (1) Excludes notes with amortized cost of $4,751 million (fair value, $4,757 million), which have been offset with the associated debt under a netting agreement. (2) Includes credit-tranched securities collateralized by loan obligations, auto loans, education loans, home equity and other asset types. (3) Includes publicly-traded agency pass-through securities and collateralized mortgage obligations. (4) Represents the amount of unrealized losses remaining in AOCI, from the impairment measurement date. Amount excludes $362 million of net unrealized gains on impaired available-for-sale securities and $1 million of net unrealized gains on impaired held-to-maturity securities relating to changes in the value of such securities subsequent to the impairment measurement date. (5) Excludes notes with amortized cost of $4,998 million (fair value, $5,401 million), which have been offset with the associated debt under a netting agreement.
Fixed Maturities, Held-to-maturity Securities	December 31, 2020 Amortized Gross Gross Fair Allowance Amortized Cost, (in millions) Fixed maturities, held-to-maturity: Foreign government bonds $ 935 $ 270 $ 0 $ 1,205 $ 0 $ 935 Foreign public corporate securities 651 68 0 719 9 642 Foreign private corporate securities 87 1 0 88 0 87 Residential mortgage-backed securities(3) 266 20 0 286 0 266 Total fixed maturities, held-to-maturity(4) $ 1,939 $ 359 $ 0 $ 2,298 $ 9 $ 1,930 __________ (1) Excludes notes with amortized cost of $5,966 million (fair value, $6,100 million), which have been offset with the associated debt under a netting agreement. (2) Includes credit-tranched securities collateralized loan obligations, auto loans, education loans, home equity and other asset types. (3) Includes publicly-traded agency pass-through securities and collateralized mortgage obligations. (4) Excludes notes with amortized cost of $4,998 million (fair value, $5,821 million), which have been offset with the associated debt under a netting agreement. December 31, 2019 Amortized Gross Gross Fair (in millions) Fixed maturities, held-to-maturity: Foreign government bonds $ 891 $ 282 $ 0 $ 1,173 Foreign public corporate securities 649 64 0 713 Foreign private corporate securities 83 2 0 85 Residential mortgage-backed securities(3) 310 21 0 331 Total fixed maturities, held-to-maturity(5) $ 1,933 $ 369 $ 0 $ 2,302 __________ (1) Excludes notes with amortized cost of $4,751 million (fair value, $4,757 million), which have been offset with the associated debt under a netting agreement. (2) Includes credit-tranched securities collateralized by loan obligations, auto loans, education loans, home equity and other asset types. (3) Includes publicly-traded agency pass-through securities and collateralized mortgage obligations. (4) Represents the amount of unrealized losses remaining in AOCI, from the impairment measurement date. Amount excludes $362 million of net unrealized gains on impaired available-for-sale securities and $1 million of net unrealized gains on impaired held-to-maturity securities relating to changes in the value of such securities subsequent to the impairment measurement date. (5) Excludes notes with amortized cost of $4,998 million (fair value, $5,401 million), which have been offset with the associated debt under a netting agreement.
Duration Of Gross Unrealized Losses On Fixed Maturity Securities	The following table sets forth the fair value and gross unrealized losses on available-for-sale fixed maturity securities without an allowance for credit losses aggregated by investment category and length of time that individual fixed maturity securities had been in a continuous unrealized loss position, as of the date indicated: December 31, 2020 Less Than Twelve Months Total Fair Gross Fair Gross Fair Gross (in millions) Fixed maturities, available-for-sale: U.S. Treasury securities and obligations of U.S. government authorities and agencies $ 750 $ 17 $ 0 $ 0 $ 750 $ 17 Obligations of U.S. states and their political subdivisions 73 1 0 0 73 1 Foreign government bonds 6,536 231 39 8 6,575 239 U.S. public corporate securities 3,905 87 1,197 106 5,102 193 U.S. private corporate securities 1,712 52 843 82 2,555 134 Foreign public corporate securities 1,412 30 376 23 1,788 53 Foreign private corporate securities 798 34 2,371 192 3,169 226 Asset-backed securities 4,132 25 4,685 49 8,817 74 Commercial mortgage-backed securities 284 8 93 3 377 11 Residential mortgage-backed securities 116 1 1 0 117 1 Total fixed maturities, available-for-sale $ 19,718 $ 486 $ 9,605 $ 463 $ 29,323 $ 949 The following table sets forth the fair value and gross unrealized losses on fixed maturity securities aggregated by investment category and length of time that individual fixed maturity securities had been in a continuous unrealized loss position, as of the date indicated: December 31, 2019 Less Than Twelve Months Total Fair Gross Fair Gross Fair Gross (in millions) Fixed maturities(1): U.S. Treasury securities and obligations of U.S. government authorities and agencies $ 4,950 $ 161 $ 267 $ 0 $ 5,217 $ 161 Obligations of U.S. states and their political subdivisions 273 8 0 0 273 8 Foreign government bonds 2,332 60 126 3 2,458 63 U.S. public corporate securities 3,944 85 2,203 172 6,147 257 U.S. private corporate securities 2,283 44 1,563 76 3,846 120 Foreign public corporate securities 1,271 23 496 47 1,767 70 Foreign private corporate securities 1,466 33 5,666 547 7,132 580 Asset-backed securities 3,979 12 4,433 28 8,412 40 Commercial mortgage-backed securities 1,193 10 164 4 1,357 14 Residential mortgage-backed securities 207 1 88 1 295 2 Total $ 21,898 $ 437 $ 15,006 $ 878 $ 36,904 $ 1,315 __________ (1) As of December 31, 2019, there were no securities classified as held-to-maturity in a gross unrealized loss position.
Fixed Maturities Classified by Contractual Maturity Date	The following table sets forth the amortized cost or amortized cost, net of allowance and fair value of fixed maturities by contractual maturities, as of the date indicated: December 31, 2020 Available-for-Sale Held-to-Maturity Amortized Fair Amortized Fair (in millions) Fixed maturities: Due in one year or less $ 11,534 $ 12,100 $ 120 $ 120 Due after one year through five years 51,323 55,272 526 602 Due after five years through ten years 68,938 78,293 87 89 Due after ten years(1) 190,467 233,459 931 1,201 Asset-backed securities 14,489 14,591 0 0 Commercial mortgage-backed securities 15,036 16,303 0 0 Residential mortgage-backed securities 2,683 2,887 266 286 Total $ 354,470 $ 412,905 $ 1,930 $ 2,298 __________ (1) Excludes available-for-sale notes with amortized cost of $5,966 million (fair value, $6,100 million) and held-to-maturity notes with amortized cost of $4,998 million (fair value, $5,821 million), which have been offset with the associated debt under a netting agreement.
Sources of Fixed Maturity Proceeds and Related Investment Gains (Losses) as well as Losses on Impairments	The following table sets forth the sources of fixed maturity proceeds and related investment gains (losses), as well as losses on write-downs, impairments and the allowance for credit losses of fixed maturities, for the periods indicated: Years Ended December 31, 2020 2019 2018 (in millions) Fixed maturities, available-for-sale: Proceeds from sales(1) $ 21,013 $ 32,283 $ 38,230 Proceeds from maturities/prepayments 23,563 20,036 21,207 Gross investment gains from sales and maturities 1,690 1,715 1,412 Gross investment losses from sales and maturities (524) (434) (905) OTTI recognized in earnings(2) N/A (315) (279) Write-downs recognized in earnings(3) (304) N/A N/A (Addition to) release of allowance for credit losses(4) (133) N/A N/A Fixed maturities, held-to-maturity: Proceeds from maturities/prepayments(5) $ 88 $ 99 $ 94 (Addition to) release of allowance for credit losses(4) 0 N/A N/A __________ (1) Includes $470 million, $13 million and $(238) million of non-cash related proceeds due to the timing of trade settlements for the years ended December 31, 2020, 2019 and 2018, respectively. (2) For the years ended December 31, 2019 and 2018, amounts exclude the portion of OTTI amounts remaining in OCI, representing any difference between the fair value of the impaired debt security and the net present value of its projected future cash flows at the time of impairment. (3) For the year ended December 31, 2020, amounts represent write-downs of credit adverse securities, write-downs on securities approaching maturity related to foreign exchange movements and securities actively marketed for sale. (4) Effective January 1, 2020, credit losses on available-for-sale and held-to-maturity fixed maturity securities are recorded within the “allowance for credit losses”. (5) Includes less than $1 million, less than $(1) million and less than $(1) million of non-cash related proceeds due to the timing of trade settlements for the years ended December 31, 2020, 2019 and 2018, respectively.
Credit Losses Recognized in Earnings on Fixed Maturity Securities Held by the Company for which a Portion of the OTTI Loss was Recognized in OCI	The following tables set forth the activity in the allowance for credit losses for fixed maturity securities, as of the date indicated: Year Ended December 31, 2020 U.S. Treasury Securities and Obligations of U.S. States Foreign Government Bonds U.S. and Foreign Corporate Securities Asset-Backed Securities Commercial Mortgage-Backed Securities Residential Mortgage-Backed Securities Total (in millions) Fixed maturities, available-for-sale: Balance, beginning of period $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 Additions to allowance for credit losses not previously recorded 0 39 255 0 1 0 295 Reductions for securities sold during the period 0 (39) (126) 0 0 0 (165) Additions (reductions) on securities with previous allowance 0 0 5 0 9 0 14 Write-downs charged against the allowance 0 0 (11) 0 0 0 (11) Balance, end of period $ 0 $ 0 $ 123 $ 0 $ 10 $ 0 $ 133 Year Ended December 31, 2020 U.S. Treasury Securities and Obligations of U.S. States Foreign Government Bonds U.S. and Foreign Corporate Securities Asset-Backed Securities Commercial Mortgage-Backed Securities Residential Mortgage-Backed Securities Total (in millions) Fixed maturities, held-to-maturity: Balance, beginning of period $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 Cumulative effect of adoption of ASU 2016-13 0 0 9 0 0 0 9 Balance, end of period $ 0 $ 0 $ 9 $ 0 $ 0 $ 0 $ 9
Assets Supporting Experience-Rated Contractholder Liabilities	The following table sets forth the composition of “Assets supporting experience-rated contractholder liabilities,” as of the dates indicated: December 31, 2020 December 31, 2019 Amortized Fair Amortized Fair (in millions) Short-term investments and cash equivalents $ 658 $ 658 $ 277 $ 277 Fixed maturities: Corporate securities 14,442 15,472 13,143 13,603 Commercial mortgage-backed securities 1,743 1,839 1,845 1,896 Residential mortgage-backed securities(1) 964 1,018 1,134 1,158 Asset-backed securities(2) 1,665 1,697 1,639 1,662 Foreign government bonds 934 945 802 814 U.S. government authorities and agencies and obligations of U.S. states 371 443 341 397 Total fixed maturities(3) 20,119 21,414 18,904 19,530 Equity securities 1,661 2,043 1,465 1,790 Total assets supporting experience-rated contractholder liabilities(4) $ 22,438 $ 24,115 $ 20,646 $ 21,597 __________ (1) Includes publicly-traded agency pass-through securities and collateralized mortgage obligations. (2) Includes collateralized loan obligations, auto loans, education loans, home equity and other asset types. Collateralized loan obligations at fair value were $1,102 million and $1,060 million as of December 31, 2020 and 2019, respectively, all of which were rated AAA. (3) As a percentage of amortized cost, 94% of the portfolio was considered high or highest quality based on NAIC or equivalent ratings, as of both December 31, 2020 and 2019.
Securities Concentrations of Credit Risk	As of the dates indicated, the Company’s exposure to concentrations of credit risk of single issuers greater than 10% of the Company’s equity included securities of the U.S. government and certain U.S. government agencies and securities guaranteed by the U.S. government, as well as the securities disclosed below: December 31, 2020 December 31, 2019 Amortized Fair Amortized Fair (in millions) Investments in Japanese government and government agency securities: Fixed maturities, available-for-sale $ 80,273 $ 92,764 $ 74,118 $ 89,546 Fixed maturities, held-to-maturity 912 1,173 869 1,143 Fixed maturities, trading 25 25 23 23 Assets supporting experience-rated contractholder liabilities 849 855 653 664 Total $ 82,059 $ 94,817 $ 75,663 $ 91,376 December 31, 2020 December 31, 2019 Amortized Fair Amortized Fair (in millions) Investments in South Korean government and government agency securities: Fixed maturities, available-for-sale $ 26 $ 33 $ 10,823 $ 13,322 Assets supporting experience-rated contractholder liabilities 15 16 15 16 Total $ 41 $ 49 $ 10,838 $ 13,338
Commercial Mortgage and Other Loans	The following table sets forth the composition of “Commercial mortgage and other loans,” as of the dates indicated: December 31, 2020 December 31, 2019 Amount % of Amount % of Commercial mortgage and agricultural property loans by property type: Office $ 12,750 19.7 % $ 13,462 21.4 % Retail 7,326 11.3 8,379 13.3 Apartments/Multi-Family 18,330 28.3 17,348 27.6 Industrial 14,954 23.1 13,226 21.1 Hospitality 2,395 3.7 2,415 3.9 Other 4,981 7.7 4,533 7.2 Total commercial mortgage loans 60,736 93.8 59,363 94.5 Agricultural property loans 4,048 6.2 3,472 5.5 Total commercial mortgage and agricultural property loans 64,784 100.0 % 62,835 100.0 % Allowance for credit losses (227) (117) Total net commercial mortgage and agricultural property loans 64,557 62,718 Other loans: Uncollateralized loans 655 656 Residential property loans 101 124 Other collateralized loans 120 65 Total other loans 876 845 Allowance for credit losses (8) (4) Total net other loans 868 841 Total net commercial mortgage and other loans(1) $ 65,425 $ 63,559 __________ (1) Includes loans held for sale which are carried at fair value and are collateralized primarily by apartment complexes. As of December 31, 2020 and 2019, the net carrying value of these loans was $1,092 million and $228 million, respectively.
Allowance for Credit Losses	The following table sets forth the activity in the allowance for credit losses for commercial mortgage and other loans, as of the dates indicated: Commercial Agricultural Residential Other Uncollateralized Total (in millions) Balance at December 31, 2017 $ 97 $ 3 $ 1 $ 0 $ 5 $ 106 Addition to (release of) allowance for credit losses 23 0 (1) 0 0 22 Charge-offs, net of recoveries 0 0 0 0 0 0 Balance at December 31, 2018 120 3 0 0 5 128 Addition to (release of) allowance for credit losses (5) 0 0 0 (1) (6) Charge-offs, net of recoveries (1) 0 0 0 0 (1) Balance at December 31, 2019 114 3 0 0 4 121 Cumulative effect of adoption of ASU 2016-13 110 5 0 0 0 115 Addition to (release of) allowance for expected losses 1 1 0 0 1 3 Write-downs charged against allowance (7) 0 0 0 0 (7) Other 0 0 0 3 0 3 Balance at December 31, 2020 $ 218 $ 9 $ 0 $ 3 $ 5 $ 235
Financing Receivable Credit Quality Indicators	The following tables set forth key credit quality indicators based upon the recorded investment gross of allowance for credit losses, as of the date indicated: December 31, 2020 Amortized Cost by Origination Year 2020 2019 2018 2017 2016 Prior Total (in millions) Commercial Mortgage Loans Loan-to-Value Ratio: 0%-59.99% $ 828 $ 2,693 $ 3,217 $ 3,854 $ 3,223 $ 15,360 $ 29,175 60%-69.99% 2,678 4,981 4,291 2,239 2,667 4,058 20,914 70%-79.99% 2,492 2,587 1,500 1,057 918 1,409 9,963 80% or greater 23 3 61 69 23 505 684 Total $ 6,021 $ 10,264 $ 9,069 $ 7,219 $ 6,831 $ 21,332 $ 60,736 Debt Service Coverage Ratio: Greater or Equal to 1.2x $ 5,901 $ 9,429 $ 8,587 $ 6,954 $ 6,382 $ 18,904 $ 56,157 1.0 - 1.2x 118 711 383 263 384 1,719 3,578 Less than 1.0x 2 124 99 2 65 709 1,001 Total $ 6,021 $ 10,264 $ 9,069 $ 7,219 $ 6,831 $ 21,332 $ 60,736 Agricultural Property Loans Loan-to-Value Ratio: 0%-59.99% $ 956 $ 494 $ 349 $ 527 $ 367 $ 1,254 $ 3,947 60%-69.99% 8 51 39 3 0 0 101 70%-79.99% 0 0 0 0 0 0 0 80% or greater 0 0 0 0 0 0 0 Total $ 964 $ 545 $ 388 $ 530 $ 367 $ 1,254 $ 4,048 Debt Service Coverage Ratio: Greater or Equal to 1.2x $ 941 $ 544 $ 381 $ 468 $ 308 $ 1,202 $ 3,844 1.0 - 1.2x 23 0 1 59 1 40 124 Less than 1.0x 0 1 6 3 58 12 80 Total $ 964 $ 545 $ 388 $ 530 $ 367 $ 1,254 $ 4,048 Commercial mortgage loans December 31, 2019 Debt Service Coverage Ratio > 1.2X 1.0X to <1.2X < 1.0X Total (in millions) Loan-to-Value Ratio: 0%-59.99% $ 31,027 $ 701 $ 217 $ 31,945 60%-69.99% 17,090 1,145 42 18,277 70%-79.99% 8,020 719 28 8,767 80% or greater 209 143 22 374 Total commercial mortgage loans $ 56,346 $ 2,708 $ 309 $ 59,363 Agricultural property loans December 31, 2019 Debt Service Coverage Ratio > 1.2X 1.0X to <1.2X < 1.0X Total (in millions) Loan-to-Value Ratio: 0%-59.99% $ 3,289 $ 57 $ 14 $ 3,360 60%-69.99% 112 0 0 112 70%-79.99% 0 0 0 0 80% or greater 0 0 0 0 Total agricultural property loans $ 3,401 $ 57 $ 14 $ 3,472
Aging of Past Due Commercial Mortgage and Other Loans and Nonaccrual Status	The following tables set forth an aging of past due commercial mortgage and other loans based upon the recorded investment gross of allowance for credit losses, as well as the amount of commercial mortgage and other loans on non-accrual status, as of the dates indicated: December 31, 2020 Current 30-59 Days 60-89 Days 90 Days or More Past Due(1) Total Past Total Non-Accrual (in millions) Commercial mortgage loans $ 60,614 $ 3 $ 119 $ 0 $ 122 $ 60,736 $ 5 Agricultural property loans 3,996 37 0 15 52 4,048 15 Residential property loans 99 1 0 1 2 101 1 Other collateralized loans 120 0 0 0 0 120 0 Uncollateralized loans 655 0 0 0 0 655 0 Total $ 65,484 $ 41 $ 119 $ 16 $ 176 $ 65,660 $ 21 __________ (1) As of December 31, 2020, there were no loans in this category accruing interest. (2) For additional information regarding the Company’s policies for accruing interest on loans, see Note 2. December 31, 2019 Current 30-59 Days 60-89 Days 90 Days or More Past Due(1) Total Past Total Non-Accrual (in millions) Commercial mortgage loans $ 59,363 $ 0 $ 0 $ 0 $ 0 $ 59,363 $ 44 Agricultural property loans 3,458 1 0 13 14 3,472 13 Residential property loans 121 1 0 2 3 124 2 Other collateralized loans 65 0 0 0 0 65 0 Uncollateralized loans 656 0 0 0 0 656 0 Total $ 63,663 $ 2 $ 0 $ 15 $ 17 $ 63,680 $ 59 __________ (1) As of December 31, 2019, there were no loans in this category accruing interest. (2) For additional information regarding the Company’s policies for accruing interest on loans, see Note 2.
Other Invested Assets	The following table sets forth the composition of “Other invested assets,” as of the dates indicated: December 31, 2020 2019 (in millions) LPs/LLCs: Equity method: Private equity $ 4,605 $ 3,625 Hedge funds 2,451 1,947 Real estate-related 1,691 1,372 Subtotal equity method 8,747 6,944 Fair value: Private equity 1,786 1,705 Hedge funds 2,036 2,172 Real estate-related 314 336 Subtotal fair value 4,136 4,213 Total LPs/LLCs 12,883 11,157 Real estate held through direct ownership(1) 2,027 2,388 Derivative instruments 1,915 877 Other(2) 1,300 1,184 Total other invested assets $ 18,125 $ 15,606 __________ (1) As of December 31, 2020 and 2019, real estate held through direct ownership had mortgage debt of $409 million and $537 million, respectively. (2) Primarily includes strategic investments made by investment management operations, leveraged leases and member and activity stock held in the Federal Home Loan Banks of New York and Boston. For additional information regarding the Company’s holdings in the Federal Home Loan Banks of New York and Boston, see Note 17.
Equity Method Investments	The following tables set forth summarized combined financial information for significant LP/LLC interests accounted for under the equity method, including the Company’s investments in operating joint ventures that are described in more detail in Note 9. Changes between periods in the tables below reflect changes in the activities within the operating joint ventures and LPs/LLCs, as well as changes in the Company’s level of investment in such entities: December 31, 2020 2019 (in millions) STATEMENTS OF FINANCIAL POSITION Total assets(1) $ 424,712 $ 313,828 Total liabilities(2) $ 35,705 $ 19,274 Partners’ capital 389,007 294,554 Total liabilities and partners’ capital $ 424,712 $ 313,828 Total liabilities and partners’ capital included above $ 9,475 $ 7,438 Equity in LP/LLC interests not included above 666 814 Carrying value $ 10,141 $ 8,252 __________ (1) Amount represents gross assets of each fund where the Company has a significant investment. These assets consist primarily of investments in real estate, investments in securities and other miscellaneous assets. (2) Amount represents gross liabilities of each fund where the Company has a significant investment. These liabilities consist primarily of third-party-borrowed funds, securities repurchase agreements and other miscellaneous liabilities. Years Ended December 31, 2020 2019 2018 (in millions) STATEMENTS OF OPERATIONS Total revenue(1) $ 42,964 $ 11,430 $ 6,264 Total expenses(2) (8,887) (5,800) (3,222) Net earnings (losses) $ 34,077 $ 5,630 $ 3,042 Equity in net earnings (losses) included above $ 744 $ 525 $ 233 Equity in net earnings (losses) of LP/LLC interests not included above 28 11 14 Total equity in net earnings (losses) $ 772 $ 536 $ 247 __________ (1) Amount represents gross revenue of each fund where the Company has a significant investment. This revenue consists of income from investments in real estate, investments in securities and other income. (2) Amount represents gross expenses of each fund where the Company has a significant investment. These expenses consist primarily of interest expense, investment management fees, salary expenses and other expenses. The following table sets forth information related to the Company’s investments in operating joint ventures as of and for the years ended December 31: 2020 2019 2018 (in millions) Investment in operating joint ventures $ 1,394 $ 1,309 $ 1,329 Dividends received from operating joint ventures $ 60 $ 70 $ 93 After-tax equity in earnings of operating joint ventures $ 96 $ 100 $ 76
Accrued Investment Income	The following table sets forth the composition of “Accrued investment income,” as of the date indicated: December 31, 2020 (in millions) Fixed maturities $ 2,676 Equity securities 7 Commercial mortgage and other loans 205 Policy loans 274 Other invested assets 27 Short-term investments and cash equivalents 4 Total accrued investment income $ 3,193
Net Investment Income	The following table sets forth “Net investment income” by investment type, for the periods indicated: Years Ended December 31, 2020 2019 2018 (in millions) Fixed maturities, available-for-sale(1) $ 12,339 $ 12,644 $ 11,989 Fixed maturities, held-to-maturity(1) 235 232 226 Fixed maturities, trading 126 149 143 Assets supporting experience-rated contractholder liabilities 700 731 722 Equity securities 162 160 164 Commercial mortgage and other loans 2,485 2,584 2,352 Policy loans 584 619 622 Other invested assets 1,318 1,005 519 Short-term investments and cash equivalents 197 453 345 Gross investment income 18,146 18,577 17,082 Less: investment expenses (736) (992) (906) Net investment income $ 17,410 $ 17,585 $ 16,176 __________
Realized Investment Gains (Losses), Net	The following table sets forth “Realized investment gains (losses), net” by investment type, for the periods indicated: Years Ended December 31, 2020 2019 2018 (in millions) Fixed maturities(1) $ 729 $ 966 $ 228 Commercial mortgage and other loans 103 44 49 Investment real estate (16) 78 84 LPs/LLCs 2 (38) 17 Derivatives (4,715) (1,513) 1,597 Other 10 4 2 Realized investment gains (losses), net $ (3,887) $ (459) $ 1,977 __________
Net Unrealized Gains (Losses) on Investment	The following table sets forth net unrealized gains (losses) on investments, as of the dates indicated: December 31, 2020 2019 2018 (in millions) Fixed maturity securities, available-for-sale—with OTTI(1) $ N/A $ 243 $ 190 Fixed maturity securities, available-for-sale—all other(1) N/A 44,279 21,721 Fixed maturity securities, available-for-sale with an allowance (25) N/A N/A Fixed maturity securities, available-for-sale without an allowance 58,593 N/A N/A Derivatives designated as cash flow hedges(2) (168) 832 811 Derivatives designated as fair value hedges(2) 10 0 0 Other investments(3) 7 (15) (2) Net unrealized gains (losses) on investments $ 58,417 $ 45,339 $ 22,720 __________ (1) Effective January 1, 2020, per ASU 2016-13, fixed maturity securities, available-for-sale are no longer required to be disclosed “with OTTI” and “all other.” (2) For additional information on cash flow and fair value hedges, see Note 5.
Repurchase Agreements and Securities Lending	The following table sets forth the composition of “Securities sold under agreements to repurchase,” as of the dates indicated: December 31, 2020 December 31, 2019 Remaining Contractual Maturities of the Agreements Remaining Contractual Maturities of the Agreements Overnight & Continuous Up to 30 Days Total Overnight & Continuous Up to 30 Days Total (in millions) U.S. Treasury securities and obligations of U.S. government authorities and agencies $ 9,548 $ 546 $ 10,094 $ 9,431 $ 0 $ 9,431 Commercial mortgage-backed securities 463 0 463 0 0 0 Residential mortgage-backed securities 337 0 337 250 0 250 Total securities sold under agreements to $ 10,348 $ 546 $ 10,894 $ 9,681 $ 0 $ 9,681 __________ (1) The Company did not have any agreements with remaining contractual maturities greater than thirty days, as of the dates indicated. The following table sets forth the composition of “Cash collateral for loaned securities” which represents the liability to return cash collateral received for the following types of securities loaned, as of the dates indicated: December 31, 2020 December 31, 2019 Remaining Contractual Maturities of the Agreements Remaining Contractual Maturities of the Agreements Overnight & Continuous Up to 30 Days Total Overnight & Continuous Up to 30 Days Total (in millions) U.S. Treasury securities and obligations of U.S. government authorities and agencies $ 0 $ 0 $ 0 $ 9 $ 0 $ 9 Obligations of U.S. states and their political subdivisions 108 0 108 33 0 33 Foreign government bonds 426 0 426 244 0 244 U.S. public corporate securities 2,360 0 2,360 2,996 0 2,996 Foreign public corporate securities 567 0 567 762 0 762 Commercial mortgage-backed securities 0 0 0 2 0 2 Equity securities 38 0 38 167 0 167 Total cash collateral for loaned securities(1) $ 3,499 $ 0 $ 3,499 $ 4,213 $ 0 $ 4,213 __________ (1) The Company did not have any agreements with remaining contractual maturities greater than thirty days, as of the dates indicated.
Securities Pledged	The following table sets forth the carrying value of investments pledged to third parties, as of the dates indicated: December 31, 2020 2019 (in millions) Fixed maturities(1) $ 19,608 $ 15,109 Fixed maturities, trading 67 58 Assets supporting experience-rated contractholder liabilities 29 22 Separate account assets 3,191 2,547 Equity securities 416 543 Other 450 445 Total securities pledged $ 23,761 $ 18,724 __________ (1) Includes fixed maturity securities classified as available-for-sale and held-to-maturity and excludes fixed maturity securities classified as trading. The following table sets forth the carrying amount of the associated liabilities supported by the pledged collateral, as of the dates indicated: December 31, 2020 2019 (in millions) Securities sold under agreements to repurchase $ 10,894 $ 9,681 Cash collateral for loaned securities 3,499 4,213 Separate account liabilities 3,249 2,624 Total liabilities supported by the pledged collateral $ 17,642 $ 16,518 The following table provides assets on deposit, assets held in trust, and securities restricted as to sale, as of the dates indicated: December 31, 2020 2019 (in millions) Assets on deposit with governmental authorities or trustees $ 31 $ 30 Assets held in voluntary trusts(1) 539 58 Assets held in trust related to reinsurance and other agreements(2) 16,614 14,897 Securities restricted as to sale(3) 153 36 Total assets on deposit, assets held in trust and securities restricted as to sale $ 17,337 $ 15,021 __________ (1) Represents assets held in voluntary trusts established primarily to fund guaranteed dividends to certain policyholders and to fund certain employee benefits. (2) Represents assets held in trust related to reinsurance agreements excluding reinsurance agreements between wholly-owned subsidiaries. Assets valued at $34.0 billion and $21.7 billion were held in trust related to reinsurance agreements between wholly-owned subsidiaries as of December 31, 2020 and 2019, respectively.

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	12 Months Ended
	Dec. 31, 2020
Variable Interest Entity, Measure of Activity [Abstract]
Schedule of Consolidated Variable Interest Entities	The table below reflects the carrying amount and balance sheet caption in which the assets and liabilities of consolidated VIEs are reported. The liabilities primarily comprise obligations under debt instruments issued by the VIEs. The creditors of these VIEs do not have recourse to the Company in excess of the assets contained within the VIEs. Consolidated VIEs for which Other Consolidated VIEs(1) December 31, December 31, 2020 2019 2020 2019 (in millions) Fixed maturities, available-for-sale $ 110 $ 104 $ 296 $ 285 Fixed maturities, held-to-maturity 87 83 882 839 Fixed maturities, trading 160 1,112 0 0 Assets supporting experience-rated contractholder liabilities 0 0 0 4 Equity securities 42 47 0 0 Commercial mortgage and other loans 975 883 0 0 Other invested assets 2,221 2,199 127 89 Cash and cash equivalents 101 166 0 0 Accrued investment income 2 4 4 4 Other assets 594 450 768 689 Total assets of consolidated VIEs $ 4,292 $ 5,048 $ 2,077 $ 1,910 Other liabilities $ 256 $ 304 $ 2 $ 13 Notes issued by consolidated VIEs(2) 305 1,274 0 0 Total liabilities of consolidated VIEs $ 561 $ 1,578 $ 2 $ 13 __________ (1) Total assets of consolidated VIEs reflect $2,538 million and $2,668 million as of December 31, 2020 and 2019, respectively, related to VIEs whose beneficial interests are wholly-owned by consolidated subsidiaries. (2) Recourse is limited to the assets of the respective VIE and does not extend to the general credit of the Company. As of December 31, 2020, the maturity of this obligation was within 4 years.

Derivative Instruments (Tables)

Derivative Instruments (Tables)	12 Months Ended
	Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	Primary Risks Managed by Derivatives The table below provides a summary of the gross notional amount and fair value of derivatives contracts by the primary underlying risks, excluding embedded derivatives and associated reinsurance recoverables. Many derivative instruments contain multiple underlying risks. The fair value amounts below represent the value of derivative contracts prior to taking into account the netting effects of master netting agreements and cash collateral. This netting impact results in total derivative assets of $1,906 million and $867 million as of December 31, 2020 and 2019, respectively, and total derivative liabilities of $792 million and $831 million as of December 31, 2020 and 2019, respectively, reflected in the Consolidated Statements of Financial Position. December 31, 2020 December 31, 2019 Primary Underlying Risk/ Gross Fair Value Gross Fair Value Notional Assets Liabilities Notional Assets Liabilities (in millions) Derivatives Designated as Hedge Accounting Instruments: Interest Rate Interest Rate Swaps $ 3,065 $ 978 $ (90) $ 3,257 $ 628 $ (73) Interest Rate Forwards 249 0 (8) 205 4 (1) Foreign Currency Foreign Currency Forwards 2,577 68 (116) 1,461 22 (57) Currency/Interest Rate Foreign Currency Swaps 22,642 878 (1,037) 22,746 1,467 (302) Total Derivatives Designated as Hedge $ 28,533 $ 1,924 $ (1,251) $ 27,669 $ 2,121 $ (433) Derivatives Not Qualifying as Hedge Accounting Instruments: Interest Rate Interest Rate Swaps $ 178,803 $ 17,174 $ (13,172) $ 141,162 $ 10,249 $ (4,861) Interest Rate Futures 15,778 99 (5) 17,095 4 (38) Interest Rate Options 14,593 914 (233) 16,496 339 (238) Interest Rate Forwards 2,910 25 0 2,218 18 (3) Foreign Currency Foreign Currency Forwards 35,478 764 (647) 26,604 208 (214) Foreign Currency Options 0 0 0 0 0 0 Currency/Interest Rate Foreign Currency Swaps 13,661 537 (601) 13,874 740 (345) Credit Credit Default Swaps 3,360 63 (28) 798 21 0 Equity Equity Futures 5,668 10 (25) 1,802 0 (3) Equity Options 36,250 1,731 (1,028) 32,657 679 (765) Total Return Swaps 22,489 32 (1,277) 18,218 6 (636) Other Other(1) 1,262 0 0 1,258 0 0 Synthetic GICs 86,264 0 0 80,009 1 0 Total Derivatives Not Qualifying as Hedge $ 416,516 $ 21,349 $ (17,016) $ 352,191 $ 12,265 $ (7,103) Total Derivatives(2)(3) $ 445,049 $ 23,273 $ (18,267) $ 379,860 $ 14,386 $ (7,536) __________ (1) “Other” primarily includes derivative contracts used to improve the balance of the Company’s tail longevity and mortality risk. Under these contracts, the Company’s gains (losses) are capped at the notional amount. (2) Excludes embedded derivatives and associated reinsurance recoverables which contain multiple underlying risks. The fair value of these embedded derivatives was a net liability of $20,119 million and $14,035 million as of December 31, 2020, and 2019, respectively, primarily included in “Future policy benefits.” (3) Recorded in “Other invested assets” and “Other liabilities” on the Consolidated Statements of Financial Position.
Schedule of financial instruments in a fair value hedge accounting relationship [Table Text Block]	As of December 31, 2020, the following amounts were recorded on the Consolidated Statements of Financial Position related to the carrying amount of the hedged assets (liabilities) and cumulative basis adjustments included in the carrying amount for fair value hedges: December 31, 2020 December 31, 2019 Balance Sheet Line Item in which Hedged Item is Recorded Carrying Amount of the Hedged Assets (Liabilities) Cumulative Amount of Carrying Amount of the Hedged Assets (Liabilities) Cumulative Amount of (in millions) Fixed maturities, available-for-sale, at fair value $ 402 $ 79 $ 389 $ 64 Commercial mortgage and other loans $ 20 $ 2 $ 23 $ 2 Policyholders’ account balances $ (1,627) $ (303) $ (1,376) $ (107) Future policy benefits $ (1,585) $ (372) $ (676) $ (172) ________ (1) There were no material fair value hedging adjustments for hedged assets and liabilities for which hedge accounting has been discontinued.
Offsetting Assets	The following table presents recognized derivative instruments (excluding embedded derivatives and associated reinsurance recoverables), and repurchase and reverse repurchase agreements that are offset in the Consolidated Statements of Financial Position, and/or are subject to an enforceable master netting arrangement or similar agreement, irrespective of whether they are offset in the Consolidated Statements of Financial Position: December 31, 2020 Gross Gross Net Amounts Financial Net (in millions) Offsetting of Financial Assets: Derivatives(1) $ 23,144 $ (21,367) $ 1,777 $ (806) $ 971 Securities purchased under agreement to resell 252 0 252 (252) 0 Total Assets $ 23,396 $ (21,367) $ 2,029 $ (1,058) $ 971 Offsetting of Financial Liabilities: Derivatives(1) $ 18,265 $ (17,475) $ 790 $ (790) $ 0 Securities sold under agreement to repurchase 10,894 0 10,894 (10,432) 462 Total Liabilities $ 29,159 $ (17,475) $ 11,684 $ (11,222) $ 462 December 31, 2019 Gross Gross Net Amounts Financial Net (in millions) Offsetting of Financial Assets: Derivatives(1) $ 14,303 $ (13,519) $ 784 $ (607) $ 177 Securities purchased under agreement to resell 1,012 0 1,012 (1,012) 0 Total Assets $ 15,315 $ (13,519) $ 1,796 $ (1,619) $ 177 Offsetting of Financial Liabilities: Derivatives(1) $ 7,528 $ (6,705) $ 823 $ (244) $ 579 Securities sold under agreement to repurchase 9,681 0 9,681 (9,681) 0 Total Liabilities $ 17,209 $ (6,705) $ 10,504 $ (9,925) $ 579 __________ (1) Amounts exclude the excess of collateral received/pledged from/to the counterparty.
Offsetting Liabilities	The following table presents recognized derivative instruments (excluding embedded derivatives and associated reinsurance recoverables), and repurchase and reverse repurchase agreements that are offset in the Consolidated Statements of Financial Position, and/or are subject to an enforceable master netting arrangement or similar agreement, irrespective of whether they are offset in the Consolidated Statements of Financial Position: December 31, 2020 Gross Gross Net Amounts Financial Net (in millions) Offsetting of Financial Assets: Derivatives(1) $ 23,144 $ (21,367) $ 1,777 $ (806) $ 971 Securities purchased under agreement to resell 252 0 252 (252) 0 Total Assets $ 23,396 $ (21,367) $ 2,029 $ (1,058) $ 971 Offsetting of Financial Liabilities: Derivatives(1) $ 18,265 $ (17,475) $ 790 $ (790) $ 0 Securities sold under agreement to repurchase 10,894 0 10,894 (10,432) 462 Total Liabilities $ 29,159 $ (17,475) $ 11,684 $ (11,222) $ 462 December 31, 2019 Gross Gross Net Amounts Financial Net (in millions) Offsetting of Financial Assets: Derivatives(1) $ 14,303 $ (13,519) $ 784 $ (607) $ 177 Securities purchased under agreement to resell 1,012 0 1,012 (1,012) 0 Total Assets $ 15,315 $ (13,519) $ 1,796 $ (1,619) $ 177 Offsetting of Financial Liabilities: Derivatives(1) $ 7,528 $ (6,705) $ 823 $ (244) $ 579 Securities sold under agreement to repurchase 9,681 0 9,681 (9,681) 0 Total Liabilities $ 17,209 $ (6,705) $ 10,504 $ (9,925) $ 579 __________ (1) Amounts exclude the excess of collateral received/pledged from/to the counterparty.
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance	The following table provides the financial statement classification and impact of derivatives used in qualifying and non-qualifying hedge relationships, including the offset of the hedged item in fair value hedge relationships. Year Ended December 31, 2020 Realized Net Other Interest Interest Policyholders’ Benefits AOCI(1) (in millions) Derivatives Designated as Hedge Accounting Instruments: Fair value hedges Gains (losses) on derivatives designated as hedge instruments: Interest Rate $ (17) $ (8) $ 0 $ 0 $ 236 $ 186 $ 0 Currency 0 0 0 0 0 46 0 Total gains (losses) on derivatives designated as hedge instruments (17) (8) 0 0 236 232 0 Gains (losses) on the hedged item: Interest Rate 16 18 0 0 (196) (155) 0 Currency 0 1 0 0 0 (46) 0 Total gains (losses) on hedged item 16 19 0 0 (196) (201) 0 Amortization for Gain (Loss) Excluded from Assessment of the Effectiveness Currency 0 0 0 0 0 (1) 10 Total Amortization for Gain (Loss) Excluded from Assessment of the Effectiveness 0 0 0 0 0 (1) 10 Total gains (losses) on fair value hedges net of hedged item (1) 11 0 0 40 30 10 Cash flow hedges Interest Rate 40 1 0 (1) 0 0 7 Currency 5 0 0 0 0 0 (69) Currency/Interest Rate 99 314 (303) 0 0 0 (938) Total gains (losses) on cash flow hedges 144 315 (303) (1) 0 0 (1,000) Net investment hedges Currency (7) 0 126 0 0 0 (128) Currency/Interest Rate 0 0 0 0 0 0 0 Total gains (losses) on net investment hedges (7) 0 126 0 0 0 (128) Derivatives Not Qualifying as Hedge Accounting Instruments: Interest Rate 5,800 0 0 0 0 0 0 Currency 100 0 (1) 0 0 0 0 Currency/Interest Rate (188) 0 (4) 0 0 0 0 Credit (56) 0 0 0 0 0 0 Equity (5,623) 0 0 0 0 0 0 Other 2 0 0 0 0 0 0 Embedded Derivatives (4,882) 0 0 0 0 0 0 Total gains (losses) on derivatives not qualifying as hedge accounting instruments (4,847) 0 (5) 0 0 0 0 Total $ (4,711) $ 326 $ (182) $ (1) $ 40 $ 30 $ (1,118) Year Ended December 31, 2019 Realized Net Other Interest Interest Policyholders’ Benefits AOCI(1) (in millions) Derivatives Designated as Hedge Accounting Instruments: Fair value hedges Gains (losses) on derivatives designated as hedge instruments: Interest Rate $ (14) $ (7) $ 0 $ 0 $ 194 $ 155 $ 0 Currency 0 0 0 0 0 0 0 Total gains (losses) on derivatives designated as hedge instruments (14) (7) 0 0 194 155 0 Gains (losses) on the hedged item: Interest Rate 11 20 0 0 (186) (140) 0 Currency 1 3 0 0 0 0 0 Total gains (losses) on hedged item 12 23 0 0 (186) (140) 0 Total gains (losses) on fair value hedges net of hedged item (2) 16 0 0 8 15 0 Cash flow hedges Interest Rate 58 0 0 0 0 0 (25) Currency 6 0 0 0 0 0 (62) Currency/Interest Rate 130 282 (97) 0 0 0 99 Total gains (losses) on cash flow hedges 194 282 (97) 0 0 0 12 Net investment hedges Currency 0 0 0 0 0 0 4 Currency/Interest Rate 0 0 0 0 0 0 0 Total gains (losses) on net investment hedges 0 0 0 0 0 0 4 Derivatives Not Qualifying as Hedge Accounting Instruments: Interest Rate 4,533 0 0 0 0 0 0 Currency 14 0 5 0 0 0 0 Currency/Interest Rate 394 0 0 0 0 0 0 Credit 123 0 0 0 0 0 0 Equity (4,057) 0 0 0 0 0 0 Other 0 0 0 0 0 0 0 Embedded Derivatives (2,705) 0 0 0 0 0 0 Total gains (losses) on derivatives not qualifying as hedge accounting instruments (1,698) 0 5 0 0 0 0 Total $ (1,506) $ 298 $ (92) $ 0 $ 8 $ 15 $ 16 Year Ended December 31, 2018 Realized Net Other Interest Interest Policyholders’ Benefits AOCI(1) (in millions) Derivatives Designated as Hedge Accounting Instruments: Fair value hedges Gains (losses) on derivatives designated as hedge instruments: Interest Rate $ 20 $ (9) $ 0 $ 0 $ (65) $ 35 $ 0 Currency 6 0 0 0 0 0 0 Total gains (losses) on derivatives designated as hedge instruments 26 (9) 0 0 (65) 35 0 Gains (losses) on the hedged item: Interest Rate (27) 31 0 0 79 (31) 0 Currency (5) 3 0 0 0 0 0 Total gains (losses) on hedged item (32) 34 0 0 79 (31) 0 Total gains (losses) on fair value hedges net of hedged item (6) 25 0 0 14 4 0 Cash flow hedges Interest Rate 2 0 0 (1) 0 0 32 Currency 7 0 0 0 0 0 20 Currency/Interest Rate 69 217 257 0 0 0 798 Total gains (losses) on cash flow hedges 78 217 257 (1) 0 0 850 Net investment hedges Currency 0 0 0 0 0 0 6 Currency/Interest Rate 0 0 0 0 0 0 0 Total gains (losses) on net investment hedges 0 0 0 0 0 0 6 Derivatives Not Qualifying as Hedge Accounting Instruments: Interest Rate (1,226) 0 0 0 0 0 0 Currency 342 0 (1) 0 0 0 0 Currency/Interest Rate 364 0 3 0 0 0 0 Credit (55) 0 0 0 0 0 0 Equity 1,121 0 0 0 0 0 0 Other 0 0 0 0 0 0 0 Embedded Derivatives 966 0 0 0 0 0 0 Total gains (losses) on derivatives not qualifying as hedge accounting instruments 1,512 0 2 0 0 0 0 Total $ 1,584 $ 242 $ 259 $ (1) $ 14 $ 4 $ 856 __________ (1) Net change in AOCI, excluding changes related to net investment hedges using non-derivative instruments of $(21) million for year ended December 31, 2020 and $0 million for both year ended December 31, 2019 and 2018.
Schedule of Derivative Instruments Recognized in Accumulated Other Comprehensive Income(Loss) Before Taxes	Presented below is a rollforward of current period cash flow hedges in AOCI before taxes: (in millions) Balance, December 31, 2017 $ (39) Amount recorded in AOCI Interest Rate 33 Currency 27 Currency/Interest Rate 1,341 Total amount recorded in AOCI 1,401 Amount reclassified from AOCI to income Interest Rate (1) Currency (7) Currency/Interest Rate (543) Total amount reclassified from AOCI to income (551) Balance, December 31, 2018 $ 811 Cumulative effect adjustment from the adoption of ASU 2017-12(1) 9 Amount recorded in AOCI Interest Rate 33 Currency (56) Currency/Interest Rate 414 Total amount recorded in AOCI 391 Amount reclassified from AOCI to income Interest Rate (58) Currency (6) Currency/Interest Rate (315) Total amount reclassified from AOCI to income (379) Balance, December 31, 2019 $ 832 Amount recorded in AOCI Interest Rate 47 Currency (64) Currency/Interest Rate (828) Total amount recorded in AOCI (845) Amount reclassified from AOCI to income Interest Rate (40) Currency (5) Currency/Interest Rate (110) Total amount reclassified from AOCI to income (155) Balance, December 31, 2020 $ (168) _________ (1) See Note 2 for details.
Disclosure of Credit Derivatives	The following table provides a summary of the notional and fair value of written credit protection. The Company’s maximum amount at risk under these credit derivatives, assuming the value of the underlying referenced securities become worthless, is equal to the notional amounts. These credit derivatives have maturities of less than 27 years for index references. December 31, 2020 NAIC Rating Designation of Underlying Credit Obligation(1) NAIC 1 NAIC 2 NAIC 3 NAIC 4 NAIC 5 NAIC 6 Total Gross Notional Fair Value Gross Notional Fair Value Gross Notional Fair Value Gross Notional Fair Value Gross Notional Fair Value Gross Notional Fair Value Gross Notional Fair Value (in millions) Single name reference(2) $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 Index reference(2) 50 0 0 0 3,003 63 0 0 0 0 0 0 3,053 63 Total $ 50 $ 0 $ 0 $ 0 $ 3,003 $ 63 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 3,053 $ 63 December 31, 2019 NAIC Rating Designation of Underlying Credit Obligation(1) NAIC 1 NAIC 2 NAIC 3 NAIC 4 NAIC 5 NAIC 6 Total Gross Notional Fair Value Gross Notional Fair Value Gross Notional Fair Value Gross Notional Fair Value Gross Notional Fair Value Gross Notional Fair Value Gross Notional Fair Value (in millions) Single name reference(2) $ 36 $ 0 $ 60 $ 1 $ 4 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 100 $ 1 Index reference(2) 50 0 0 0 570 13 0 0 0 0 72 7 692 20 Total $ 86 $ 0 $ 60 $ 1 $ 574 $ 13 $ 0 $ 0 $ 0 $ 0 $ 72 $ 7 $ 792 $ 21 _________ (1) The NAIC rating designations are based on availability and the lowest ratings among Moody's Investors Service, Inc. ("Moody's"), Standard & Poor’s Rating Services (“S&P”) and Fitch Ratings Inc. (“Fitch”). If no rating is available from a rating agency, a NAIC 6 rating is used. (2) Single name credit default swaps may reference to the credit of corporate debt, sovereign debt, and structured finance. Index references NAIC designations are based on the lowest rated single name reference included in the index. In addition to writing credit protection, the Company has purchased credit protection using credit derivatives in order to hedge specific credit exposures in the Company’s investment portfolio. As of December 31, 2020 and 2019, the Company had $307 million and $6 million of outstanding notional amounts, reported at fair value as a liability of $28 million and $0 million, respectively.

Fair Value of Assets and Liab_2

Fair Value of Assets and Liabilities (Tables)	12 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value, Assets and Liabilities Measured on Recurring Basis	The tables below present the balances of assets and liabilities reported at fair value on a recurring basis, as of the dates indicated: As of December 31, 2020 Level 1 Level 2 Level 3 Netting(1) Total (in millions) Fixed maturities, available-for-sale: U.S. Treasury securities and obligations of U.S. government authorities and agencies $ 0 $ 40,298 $ 150 $ $ 40,448 Obligations of U.S. states and their political subdivisions 0 12,807 4 12,811 Foreign government bonds 0 110,233 11 110,244 U.S. corporate public securities 0 113,486 69 113,555 U.S. corporate private securities(2) 0 38,689 2,248 40,937 Foreign corporate public securities 0 29,384 153 29,537 Foreign corporate private securities 0 28,727 2,865 31,592 Asset-backed securities(3) 0 14,068 523 14,591 Commercial mortgage-backed securities 0 16,294 9 16,303 Residential mortgage-backed securities 0 2,876 11 2,887 Subtotal 0 406,862 6,043 412,905 Assets supporting experience-rated contractholder liabilities: U.S. Treasury securities and obligations of U.S. government authorities and agencies 0 212 0 212 Obligations of U.S. states and their political subdivisions 0 231 0 231 Foreign government bonds 0 926 19 945 Corporate securities 0 14,990 482 15,472 Asset-backed securities(3) 0 1,583 114 1,697 Commercial mortgage-backed securities 0 1,839 0 1,839 Residential mortgage-backed securities 0 1,018 0 1,018 Equity securities 1,784 259 0 2,043 All other(4) 50 549 20 619 Subtotal 1,834 21,607 635 24,076 Fixed maturities, trading 0 3,671 243 3,914 Equity securities 6,207 1,131 660 7,998 Commercial mortgage and other loans 0 1,092 0 1,092 Other invested assets(5) 227 23,045 366 (21,367) 2,271 Short-term investments 405 5,728 177 6,310 Cash equivalents 1,476 4,005 1 5,482 Other assets 0 0 268 268 Separate account assets(6)(7) 51,826 250,623 1,821 304,270 Total assets $ 61,975 $ 717,764 $ 10,214 $ (21,367) $ 768,586 Future policy benefits(8) $ 0 $ 0 $ 18,879 $ $ 18,879 Policyholders’ account balances 0 0 1,914 1,914 Other liabilities 32 17,828 0 (17,475) 385 Notes issued by consolidated VIEs 0 0 0 0 Total liabilities $ 32 $ 17,828 $ 20,793 $ (17,475) $ 21,178 As of December 31, 2019 Level 1 Level 2 Level 3 Netting(1) Total (in millions) Fixed maturities, available-for-sale: U.S. Treasury securities and obligations of U.S. government authorities and agencies $ 0 $ 35,554 $ 105 $ $ 35,659 Obligations of U.S. states and their political subdivisions 0 11,493 4 11,497 Foreign government bonds 0 119,032 22 119,054 U.S. corporate public securities 0 97,959 380 98,339 U.S. corporate private securities(2) 0 34,749 1,784 36,533 Foreign corporate public securities 0 29,756 69 29,825 Foreign corporate private securities 0 27,237 1,003 28,240 Asset-backed securities(3) 0 12,238 936 13,174 Commercial mortgage-backed securities 0 15,574 0 15,574 Residential mortgage-backed securities 0 3,189 12 3,201 Subtotal 0 386,781 4,315 391,096 Assets supporting experience-rated contractholder liabilities: U.S. Treasury securities and obligations of U.S. government authorities and agencies 0 185 0 185 Obligations of U.S. states and their political subdivisions 0 212 0 212 Foreign government bonds 0 790 24 814 Corporate securities 0 12,966 637 13,603 Asset-backed securities(3) 0 1,593 69 1,662 Commercial mortgage-backed securities 0 1,896 0 1,896 Residential mortgage-backed securities 0 1,158 0 1,158 Equity securities 1,505 285 0 1,790 All other(4) 0 261 0 261 Subtotal 1,505 19,346 730 21,581 Fixed maturities, trading 0 3,597 287 3,884 Equity securities 5,813 939 633 7,385 Commercial mortgage and other loans 0 228 0 228 Other invested assets(5) 6 14,379 567 (13,519) 1,433 Short-term investments 1,806 1,975 155 3,936 Cash equivalents 2,079 6,796 131 9,006 Other assets 0 0 113 113 Separate account assets(6)(7) 46,574 240,433 1,717 288,724 Total assets $ 57,783 $ 674,474 $ 8,648 $ (13,519) $ 727,386 Future policy benefits(8) $ 0 $ 0 $ 12,831 $ 12,831 Policyholders’ account balances 0 0 1,316 1,316 Other liabilities 41 7,495 105 (6,705) 936 Notes issued by consolidated VIEs 0 0 800 800 Total liabilities $ 41 $ 7,495 $ 15,052 $ (6,705) $ 15,883 __________ (1) “Netting” amounts represent cash collateral of $3,892 million and $6,814 million as of December 31, 2020 and 2019, respectively. (2) Excludes notes with fair value of $6,100 million (carrying amount of $5,966 million) and $4,757 million (carrying amount of $4,751 million) as of December 31, 2020 and 2019, respectively, which have been offset with the associated payables under a netting agreement. (3) Includes credit-tranched securities collateralized by syndicated bank loans, sub-prime mortgages, auto loans, credit cards, education loans and other asset types. (4) All other represents cash equivalents and short-term investments. (5) Other invested assets excluded from the fair value hierarchy include certain hedge funds, private equity funds and other funds for which fair value is measured at net asset value (“NAV”) per share (or its equivalent) as a practical expedient. At December 31, 2020 and 2019, the fair values of such investments were $4,136 million and $4,213 million respectively. (6) Separate account assets included in the fair value hierarchy exclude investments in entities that calculate NAV per share (or its equivalent) as a practical expedient. Such investments excluded from the fair value hierarchy include investments in real estate, hedge funds and other invested assets. At December 31, 2020 and 2019, the fair value of such investments were $23,007 million and $23,557 million, respectively. (7) Separate account assets represent segregated funds that are invested for certain customers. Investment risks associated with market value changes are borne by the customers, except to the extent of minimum guarantees made by the Company with respect to certain accounts. Separate account liabilities are not included in the above table as they are reported at contract value and not fair value in the Company’s Consolidated Statements of Financial Position. (8) As of December 31, 2020, the net embedded derivative liability position of $18.9 billion includes $0.5 billion of embedded derivatives in an asset position and $19.4 billion of embedded derivatives in a liability position. As of December 31, 2019, the net embedded derivative liability position of $12.8 billion includes $0.7 billion of embedded derivatives in an asset position and $13.5 billion of embedded derivatives in a liability position.
Fair Value Inputs, Assets and Liabilities, Quantitative Information	The tables below present quantitative information on significant internally-priced Level 3 assets and liabilities: As of December 31, 2020 Fair Value Valuation Unobservable Inputs Minimum Maximum Weighted Impact of (in millions) Assets: Corporate securities(2)(3) $ 3,697 Discounted cash flow(5) Discount rate 0.40% 25% 4.28% Decrease Market comparables EBITDA multiples(4) 7.0X 15.0X 9.0X Increase Liquidation Liquidation value 12.13% 15.00% 13.02% Increase Equity securities $ 195 Discounted cash flow(5) Discount rate 0.5% 20% Decrease Market comparables EBITDA multiples(4) 1X 8.8X 3.3X Increase Net Asset Value Share price $1 $1,414 $495 Increase Separate account assets-commercial mortgage loans(6) $ 775 Discounted cash flow Spread 1.60% 2.98% 1.80% Decrease Liabilities: Future policy benefits(7) $ 18,879 Discounted cash flow Lapse rate(9) 1% 20% Decrease Spread over LIBOR(10) 0.06% 1.17% Decrease Utilization rate(11) 39% 96% Increase Withdrawal rate See table footnote (12) below. Mortality rate(13) 0% 15% Decrease Equity volatility curve 18% 26% Increase Policyholders’ account balances(8) $ 1,914 Discounted Lapse rate(9) 1% 42% Decrease Spread over LIBOR(10) 0.06% 1.17% Decrease Mortality rate(13) 0% 24% Decrease Equity volatility curve 6% 42% Increase As of December 31, 2019 Fair Value Valuation Unobservable Inputs Minimum Maximum Weighted Impact of (in millions) Assets: Corporate securities(2)(3) $ 1,424 Discounted cash flow(5) Discount rate 0.49% 20% 7.41% Decrease Market comparables EBITDA multiples(4) 5.7X 9.2X 7.3X Increase Liquidation Liquidation value 14.25% 83.61% 59.47% Increase Equity securities $ 210 Discounted cash flow(5) Discount rate 10% 30% Decrease Market comparables EBITDA multiples(4) 1X 10.1X 5.4X Increase Net Asset Value Share price $5 $1,353 $451 Increase Separate account assets-commercial mortgage loans(6) $ 796 Discounted cash flow Spread 1.11% 1.85% 1.26% Decrease Liabilities: Future policy benefits(7) $ 12,831 Discounted cash flow Lapse rate(9) 1% 18% Decrease Spread over LIBOR(10) 0.10% 1.23% Decrease Utilization rate(11) 43% 97% Increase Withdrawal rate See table footnote (12) below. Mortality rate(13) 0% 15% Decrease Equity volatility curve 13% 23% Increase Policyholders’ account balances(8) $ 1,316 Discounted Lapse rate(9) 1% 42% Decrease Spread over LIBOR(10) 0.10% 1.23% Decrease Mortality rate(13) 0% 24% Decrease Equity volatility curve 6% 25% Increase __________ (1) Conversely, the impact of a decrease in input would have the opposite impact on fair value as that presented in the table. (2) Includes assets classified as fixed maturities available-for-sale, assets supporting experience-rated contractholder liabilities and fixed maturities, trading. (3) Excludes notes which have been offset with the associated payables under a netting agreement. (4) Represents multiples of earnings before interest, taxes, depreciation and amortization (“EBITDA”), and are amounts used when the Company has determined that market participants would use such multiples when valuing the investments. (5) Includes certain investments where enterprise value is less than the amount needed to support senior and subordinated claims. These investments typically use a range of discount rates (10% to 20%), therefore presenting a range, rather than a weighted average, is a more meaningful representation of the unobservable inputs used in the valuation. (6) Changes in the fair value of separate account assets are borne by customers and thus are offset by changes in separate account liabilities on the Company’s Consolidated Statements of Financial Position. As a result, changes in value associated with these investments are not reflected in the Company’s Consolidated Statements of Operations. (7) Future policy benefits primarily represent general account liabilities for the living benefit features of the Company’s variable annuity contracts which are accounted for as embedded derivatives. Since the valuation methodology for these liabilities uses a range of inputs that vary at the contract level over the cash flow projection period, presenting a range, rather than a weighted average, is a more meaningful representation of the unobservable inputs used in the valuation. (8) Policyholders’ account balances primarily represent general account liabilities for the index-linked interest credited on certain of the Company’s life and annuity products that are accounted for as embedded derivatives. Since the valuation methodology for these liabilities uses a range of inputs that vary at the contract level over the cash flow projection period, presenting a range, rather than a weighted average, is a more meaningful representation of the unobservable inputs used in the valuation. (9) Lapse rates for contracts with living benefit guarantees are adjusted at the contract level based on the in-the-moneyness of the living benefit and reflect other factors, such as the applicability of any surrender charges. Lapse rates are reduced when contracts are more in-the-money. Lapse rates for contracts with index-linked crediting guarantees may be adjusted at the contract level based on the applicability of any surrender charges, product type, and market related factors such as interest rates. Lapse rates are also generally assumed to be lower for the period where surrender charges apply. For any given contract, lapse rates vary throughout the period over which cash flows are projected for the purposes of valuing these embedded derivatives. (10) The spread over the London Inter-Bank Offered Rate (“LIBOR”) swap curve represents the premium added to the proxy for the risk-free rate (LIBOR) to reflect the Company’s estimates of rates that a market participant would use to value the living benefits in both the accumulation and payout phases and index-linked interest crediting guarantees. This spread includes an estimate of NPR, which is the risk that the obligation will not be fulfilled by the Company. NPR is primarily estimated by utilizing the credit spreads associated with issuing funding agreements, adjusted for any illiquidity risk premium. In order to reflect the financial strength ratings of the Company, credit spreads associated with funding agreements, as opposed to credit spread associated with debt, are utilized in developing this estimate because funding agreements, living benefit guarantees, and index-linked interest crediting guarantees are insurance liabilities and are therefore senior to debt. (11) The utilization rate assumption estimates the percentage of contracts that will utilize the benefit during the contract duration, and begin lifetime withdrawals at various time intervals from contract inception. The remaining contractholders are assumed to either begin lifetime withdrawals immediately or never utilize the benefit. Utilization assumptions may vary by product type, tax status, and age. The impact of changes in these assumptions is highly dependent on the product type, the age of the contractholder at the time of the sale, and the timing of the first lifetime income withdrawal. Range reflects the utilization rate for the vast majority of business with living benefits. (12) The withdrawal rate assumption estimates the magnitude of annual contractholder withdrawals relative to the maximum allowable amount under the contract. These assumptions vary based on the age of the contractholder, the tax status of the contract and the duration since the contractholder began lifetime withdrawals. As of December 31, 2020 and 2019, the minimum withdrawal rate assumption is 76% and 78% respectively. As of both December 31, 2020 and 2019, the maximum withdrawal rate assumption may be greater than 100%.The fair value of the liability will generally increase the closer the withdrawal rate is to 100% and decrease as the withdrawal rate moves further away from 100%. (13) The range reflects the mortality rates for the vast majority of business with living benefits and other contracts, with policyholders ranging from 45 to 90 years old. While the majority of living benefits have a minimum age requirement, certain other contracts do not have an age restriction. This results in contractholders with mortality rates approaching 0% for certain benefits. Mortality rates may vary by product, age, and duration. A mortality improvement assumption is also incorporated into the overall mortality table.
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation	The following tables describe changes in fair values of Level 3 assets and liabilities as of the dates indicated, as well as the portion of gains or losses included in income attributable to unrealized gains or losses related to those assets and liabilities still held at the end of their respective periods. When a determination is made to classify assets and liabilities within Level 3, the determination is based on significance of the unobservable inputs in the overall fair value measurement. All transfers are based on changes in the observability of the valuation inputs, including the availability of pricing service information that the Company can validate. Transfers into Level 3 are generally the result of unobservable inputs utilized within valuation methodologies and the use of indicative broker quotes for assets that were previously valued using observable inputs. Transfers out of Level 3 are generally due to the use of observable inputs in valuation methodologies as well as the availability of pricing service information for certain assets that the Company can validate. Year Ended December 31, 2020 Fair Value, beginning of period Total realized and unrealized gains (losses) Purchases Sales Issuances Settlements Other(1) Transfers into Transfers out of Level 3 Fair Value, end of period Unrealized gains (losses) for assets still held(2) (in millions) Fixed maturities, available-for-sale: U.S. government $ 105 $ 0 $ 45 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 150 $ 0 U.S. states 4 0 0 0 0 0 0 0 0 4 0 Foreign government 22 0 0 0 0 0 0 1 (12) 11 0 Corporate securities(3) 3,236 274 1,144 (127) 0 (1,021) (16) 2,178 (333) 5,335 203 Structured securities(4) 948 (8) 685 (18) 0 (547) 156 178 (851) 543 (11) Assets supporting experience-rated contractholder liabilities: Foreign government 24 0 0 0 0 (5) 0 0 0 19 0 Corporate securities(3) 637 (17) 6 (9) 0 (182) (19) 99 (33) 482 (25) Structured securities(4) 69 (1) 191 0 0 (33) 0 1 (113) 114 3 Equity securities 0 0 0 0 0 0 0 0 0 0 0 All other activity 0 0 134 0 0 (5) (2) 0 (107) 20 0 Other assets: Fixed maturities, trading 287 (24) 33 (33) 0 0 9 19 (48) 243 (24) Equity securities 633 14 59 (50) 0 (6) 11 0 (1) 660 11 Other invested assets 567 7 209 0 4 (5) (415) 8 (9) 366 7 Short-term investments 155 1 327 0 0 (115) (48) 0 (143) 177 (1) Cash equivalents 131 0 0 0 0 0 (130) 0 0 1 0 Other assets 113 87 69 0 0 (1) 0 0 0 268 88 Separate account assets(5) 1,717 143 242 (71) 0 (84) 0 43 (169) 1,821 157 Liabilities: Future policy benefits (12,831) (4,837) 0 0 (1,304) 0 93 0 0 (18,879) (5,263) Policyholders’ account balances(6) (1,316) (228) 0 0 (370) 0 0 0 0 (1,914) (155) Other liabilities (105) 105 0 0 0 0 0 0 0 0 105 Notes issued by consolidated VIEs (800) 25 0 0 0 0 775 0 0 0 25 Year Ended December 31, 2020 Total realized and unrealized gains (losses) Unrealized gains (losses) for assets still held(2) Realized investment gains (losses), net Other income (loss) Interest credited to policyholders’ account balances Included in other comprehensive income (losses) Net investment income Realized investment gains (losses), net Other income Interest credited to policyholders’ account balances Included in other comprehensive income (losses)(7) (in millions) Fixed maturities, available-for-sale $ (111) $ 0 $ 0 $ 368 $ 9 $ (139) $ 0 $ 0 $ 331 Assets supporting experience-rated contractholder liabilities 0 (22) 0 0 4 0 (22) 0 0 Other assets: Fixed maturities, trading 0 (25) 0 0 1 0 (24) 0 0 Equity securities 0 14 0 0 0 0 11 0 0 Other invested assets 0 7 0 0 0 0 7 0 0 Short-term investments 1 0 0 0 0 (1) 0 0 0 Cash equivalents 0 0 0 0 0 0 0 0 0 Other assets 87 0 0 0 0 88 0 0 0 Separate account assets(5) 0 0 143 0 0 0 0 157 0 Liabilities: Future policy benefits (4,837) 0 0 0 0 (5,263) 0 0 0 Policyholders’ account balances (228) 0 0 0 0 (155) 0 0 0 Other liabilities 0 105 0 0 0 0 105 0 0 Notes issued by consolidated VIEs 0 25 0 0 0 0 25 0 0 Year Ended December 31, 2019 Fair Value, beginning of period Total realized and unrealized gains (losses) Purchases Sales Issuances Settlements Other(1) Transfers into Transfers out of Level 3 Fair Value, end of period Unrealized gains (losses) for assets still held(2) (in millions) Fixed maturities, available-for-sale: U.S. government $ 81 $ 0 $ 24 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 105 $ 0 U.S. states 5 0 0 0 0 (1) 0 0 0 4 0 Foreign government 125 0 0 0 0 0 (1) 10 (112) 22 (2) Corporate securities(3) 2,685 (3) 1,462 (47) 0 (1,137) 10 353 (87) 3,236 (96) Structured securities(4) 1,339 40 952 (67) 0 (507) (4) 755 (1,560) 948 0 Assets supporting experience-rated contractholder liabilities: Foreign government 225 0 0 0 0 (5) (196) 0 0 24 0 Corporate securities(3) 444 4 146 0 0 (189) 196 46 (10) 637 (6) Structured securities(4) 149 0 29 0 0 (35) 0 0 (74) 69 0 Equity securities 1 1 0 (2) 0 0 0 0 0 0 1 All other activity 0 0 8 0 0 (8) 0 0 0 0 0 Other assets: Fixed maturities, trading 206 (26) 105 (31) 0 0 (7) 41 (1) 287 (27) Equity securities 671 42 79 (52) 0 (85) 1 1 (24) 633 34 Other invested assets 263 11 341 0 0 (42) (6) 0 0 567 (1) Short-term investments 89 0 597 0 0 (526) (5) 0 0 155 0 Cash equivalents 77 0 131 0 0 (77) 0 0 0 131 0 Other assets 25 44 44 0 0 0 0 0 0 113 44 Separate account assets(5) 1,534 184 346 (111) 0 (144) 0 55 (147) 1,717 170 Liabilities: Future policy benefits (8,926) (2,685) 0 0 (1,221) 0 1 0 0 (12,831) (2,999) Policyholders’ account balances(6) (56) (933) 0 0 (324) 0 (3) 0 0 (1,316) (917) Other liabilities 0 (5) 0 0 (100) 0 0 0 0 (105) (5) Notes issued by consolidated VIEs (595) 15 0 0 (858) 638 0 0 0 (800) 15 Year Ended December 31, 2019 Total realized and unrealized gains (losses) Unrealized gains (losses) for assets still held(2) Realized investment gains (losses), net Other income (loss) Interest credited to policyholders’ account balances Included in other comprehensive income (losses) Net investment income Realized investment gains (losses), net Other income Interest credited to policyholders’ account balances (in millions) Fixed maturities, available-for-sale $ (67) $ 0 $ 0 $ 86 $ 18 $ (98) $ 0 $ 0 Assets supporting experience-rated contractholder liabilities 0 (4) 0 0 9 0 (5) 0 Other assets: Fixed maturities, trading 0 (27) 0 0 1 0 (27) 0 Equity securities 0 42 0 0 0 0 34 0 Other invested assets (1) 12 0 0 0 (1) 0 0 Short-term investments 0 0 0 0 0 0 0 0 Cash equivalents 0 0 0 0 0 0 0 0 Other assets 44 0 0 0 0 44 0 0 Separate account assets(5) 0 0 180 0 4 0 0 170 Liabilities: Future policy benefits (2,685) 0 0 0 0 (2,999) 0 0 Policyholders’ account balances (933) 0 0 0 0 (917) 0 0 Other liabilities 0 (5) 0 0 0 0 (5) 0 Notes issued by consolidated VIEs 15 0 0 0 0 15 0 0 The following tables summarize the portion of changes in fair values of Level 3 assets and liabilities included in earnings and OCI for the year ended December 31, 2018, as well as the portion of gains or losses included in income attributable to unrealized gains or losses related to those assets and liabilities still held as of December 31, 2018: Year Ended December 31, 2018 Total realized and unrealized gains (losses) Unrealized gains (losses) for assets still held(2) Realized investment gains (losses), net Other income (loss) Interest credited to policyholders’ account balances Included in other comprehensive income (losses) Net investment income Realized investment gains (losses), net Other income Interest credited to policyholders’ account balances (in millions) Fixed maturities, available-for-sale $ (29) $ 0 $ 0 $ (141) $ 17 $ (60) $ 0 $ 0 Assets supporting experience-rated contractholder liabilities 0 (39) 0 0 8 0 (38) 0 Other assets: Fixed maturities, trading 0 5 0 0 1 0 8 0 Equity securities 0 (6) 0 0 0 0 (19) 0 Other invested assets 4 0 0 0 0 2 1 0 Short-term investments 0 0 0 0 0 (1) 0 0 Cash equivalents (1) 0 0 0 0 0 0 0 Other assets (34) 0 0 0 0 (34) 0 0 Separate account assets(5) 0 0 (66) 0 2 0 0 (52) Liabilities: Future policy benefits 947 0 0 0 0 611 0 0 Policyholders’ account balances 30 0 0 0 0 30 0 0 Other liabilities 2 0 0 0 0 3 0 0 Notes issued by consolidated VIEs 14 0 0 0 0 14 0 0 __________ (1) “Other,” for the periods ended December 31, 2020 and 2019, primarily represent deconsolidation of VIE, reclassifications of certain assets between reporting categories and foreign currency translation. (2) Unrealized gains or losses related to assets still held at the end of the period do not include amortization or accretion of premiums and discounts. (3) Includes U.S. corporate public, U.S. corporate private, foreign corporate public and foreign corporate private securities. (4) Includes asset-backed, commercial mortgage-backed and residential mortgage-backed securities. (5) Separate account assets represent segregated funds that are invested for certain customers. Investment risks associated with market value changes are borne by the customers, except to the extent of minimum guarantees made by the Company with respect to certain accounts. Separate account liabilities are not included in the above table as they are reported at contract value and not fair value in the Company’s Consolidated Statements of Financial Position. (6) Issuances and settlements for Policyholders’ account balances are presented net in the rollforward. Prior period amounts have been updated to conform to current period presentation. (7) Effective January 1, 2020, the changes in unrealized gains and losses for the period included in other comprehensive income for recurring Level 3 fair value measurements held at the end of the reporting period were added prospectively due to adoption of ASU 2018-13. Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement .
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation	The following tables describe changes in fair values of Level 3 assets and liabilities as of the dates indicated, as well as the portion of gains or losses included in income attributable to unrealized gains or losses related to those assets and liabilities still held at the end of their respective periods. When a determination is made to classify assets and liabilities within Level 3, the determination is based on significance of the unobservable inputs in the overall fair value measurement. All transfers are based on changes in the observability of the valuation inputs, including the availability of pricing service information that the Company can validate. Transfers into Level 3 are generally the result of unobservable inputs utilized within valuation methodologies and the use of indicative broker quotes for assets that were previously valued using observable inputs. Transfers out of Level 3 are generally due to the use of observable inputs in valuation methodologies as well as the availability of pricing service information for certain assets that the Company can validate. Year Ended December 31, 2020 Fair Value, beginning of period Total realized and unrealized gains (losses) Purchases Sales Issuances Settlements Other(1) Transfers into Transfers out of Level 3 Fair Value, end of period Unrealized gains (losses) for assets still held(2) (in millions) Fixed maturities, available-for-sale: U.S. government $ 105 $ 0 $ 45 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 150 $ 0 U.S. states 4 0 0 0 0 0 0 0 0 4 0 Foreign government 22 0 0 0 0 0 0 1 (12) 11 0 Corporate securities(3) 3,236 274 1,144 (127) 0 (1,021) (16) 2,178 (333) 5,335 203 Structured securities(4) 948 (8) 685 (18) 0 (547) 156 178 (851) 543 (11) Assets supporting experience-rated contractholder liabilities: Foreign government 24 0 0 0 0 (5) 0 0 0 19 0 Corporate securities(3) 637 (17) 6 (9) 0 (182) (19) 99 (33) 482 (25) Structured securities(4) 69 (1) 191 0 0 (33) 0 1 (113) 114 3 Equity securities 0 0 0 0 0 0 0 0 0 0 0 All other activity 0 0 134 0 0 (5) (2) 0 (107) 20 0 Other assets: Fixed maturities, trading 287 (24) 33 (33) 0 0 9 19 (48) 243 (24) Equity securities 633 14 59 (50) 0 (6) 11 0 (1) 660 11 Other invested assets 567 7 209 0 4 (5) (415) 8 (9) 366 7 Short-term investments 155 1 327 0 0 (115) (48) 0 (143) 177 (1) Cash equivalents 131 0 0 0 0 0 (130) 0 0 1 0 Other assets 113 87 69 0 0 (1) 0 0 0 268 88 Separate account assets(5) 1,717 143 242 (71) 0 (84) 0 43 (169) 1,821 157 Liabilities: Future policy benefits (12,831) (4,837) 0 0 (1,304) 0 93 0 0 (18,879) (5,263) Policyholders’ account balances(6) (1,316) (228) 0 0 (370) 0 0 0 0 (1,914) (155) Other liabilities (105) 105 0 0 0 0 0 0 0 0 105 Notes issued by consolidated VIEs (800) 25 0 0 0 0 775 0 0 0 25 Year Ended December 31, 2020 Total realized and unrealized gains (losses) Unrealized gains (losses) for assets still held(2) Realized investment gains (losses), net Other income (loss) Interest credited to policyholders’ account balances Included in other comprehensive income (losses) Net investment income Realized investment gains (losses), net Other income Interest credited to policyholders’ account balances Included in other comprehensive income (losses)(7) (in millions) Fixed maturities, available-for-sale $ (111) $ 0 $ 0 $ 368 $ 9 $ (139) $ 0 $ 0 $ 331 Assets supporting experience-rated contractholder liabilities 0 (22) 0 0 4 0 (22) 0 0 Other assets: Fixed maturities, trading 0 (25) 0 0 1 0 (24) 0 0 Equity securities 0 14 0 0 0 0 11 0 0 Other invested assets 0 7 0 0 0 0 7 0 0 Short-term investments 1 0 0 0 0 (1) 0 0 0 Cash equivalents 0 0 0 0 0 0 0 0 0 Other assets 87 0 0 0 0 88 0 0 0 Separate account assets(5) 0 0 143 0 0 0 0 157 0 Liabilities: Future policy benefits (4,837) 0 0 0 0 (5,263) 0 0 0 Policyholders’ account balances (228) 0 0 0 0 (155) 0 0 0 Other liabilities 0 105 0 0 0 0 105 0 0 Notes issued by consolidated VIEs 0 25 0 0 0 0 25 0 0 Year Ended December 31, 2019 Fair Value, beginning of period Total realized and unrealized gains (losses) Purchases Sales Issuances Settlements Other(1) Transfers into Transfers out of Level 3 Fair Value, end of period Unrealized gains (losses) for assets still held(2) (in millions) Fixed maturities, available-for-sale: U.S. government $ 81 $ 0 $ 24 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 105 $ 0 U.S. states 5 0 0 0 0 (1) 0 0 0 4 0 Foreign government 125 0 0 0 0 0 (1) 10 (112) 22 (2) Corporate securities(3) 2,685 (3) 1,462 (47) 0 (1,137) 10 353 (87) 3,236 (96) Structured securities(4) 1,339 40 952 (67) 0 (507) (4) 755 (1,560) 948 0 Assets supporting experience-rated contractholder liabilities: Foreign government 225 0 0 0 0 (5) (196) 0 0 24 0 Corporate securities(3) 444 4 146 0 0 (189) 196 46 (10) 637 (6) Structured securities(4) 149 0 29 0 0 (35) 0 0 (74) 69 0 Equity securities 1 1 0 (2) 0 0 0 0 0 0 1 All other activity 0 0 8 0 0 (8) 0 0 0 0 0 Other assets: Fixed maturities, trading 206 (26) 105 (31) 0 0 (7) 41 (1) 287 (27) Equity securities 671 42 79 (52) 0 (85) 1 1 (24) 633 34 Other invested assets 263 11 341 0 0 (42) (6) 0 0 567 (1) Short-term investments 89 0 597 0 0 (526) (5) 0 0 155 0 Cash equivalents 77 0 131 0 0 (77) 0 0 0 131 0 Other assets 25 44 44 0 0 0 0 0 0 113 44 Separate account assets(5) 1,534 184 346 (111) 0 (144) 0 55 (147) 1,717 170 Liabilities: Future policy benefits (8,926) (2,685) 0 0 (1,221) 0 1 0 0 (12,831) (2,999) Policyholders’ account balances(6) (56) (933) 0 0 (324) 0 (3) 0 0 (1,316) (917) Other liabilities 0 (5) 0 0 (100) 0 0 0 0 (105) (5) Notes issued by consolidated VIEs (595) 15 0 0 (858) 638 0 0 0 (800) 15 Year Ended December 31, 2019 Total realized and unrealized gains (losses) Unrealized gains (losses) for assets still held(2) Realized investment gains (losses), net Other income (loss) Interest credited to policyholders’ account balances Included in other comprehensive income (losses) Net investment income Realized investment gains (losses), net Other income Interest credited to policyholders’ account balances (in millions) Fixed maturities, available-for-sale $ (67) $ 0 $ 0 $ 86 $ 18 $ (98) $ 0 $ 0 Assets supporting experience-rated contractholder liabilities 0 (4) 0 0 9 0 (5) 0 Other assets: Fixed maturities, trading 0 (27) 0 0 1 0 (27) 0 Equity securities 0 42 0 0 0 0 34 0 Other invested assets (1) 12 0 0 0 (1) 0 0 Short-term investments 0 0 0 0 0 0 0 0 Cash equivalents 0 0 0 0 0 0 0 0 Other assets 44 0 0 0 0 44 0 0 Separate account assets(5) 0 0 180 0 4 0 0 170 Liabilities: Future policy benefits (2,685) 0 0 0 0 (2,999) 0 0 Policyholders’ account balances (933) 0 0 0 0 (917) 0 0 Other liabilities 0 (5) 0 0 0 0 (5) 0 Notes issued by consolidated VIEs 15 0 0 0 0 15 0 0 The following tables summarize the portion of changes in fair values of Level 3 assets and liabilities included in earnings and OCI for the year ended December 31, 2018, as well as the portion of gains or losses included in income attributable to unrealized gains or losses related to those assets and liabilities still held as of December 31, 2018: Year Ended December 31, 2018 Total realized and unrealized gains (losses) Unrealized gains (losses) for assets still held(2) Realized investment gains (losses), net Other income (loss) Interest credited to policyholders’ account balances Included in other comprehensive income (losses) Net investment income Realized investment gains (losses), net Other income Interest credited to policyholders’ account balances (in millions) Fixed maturities, available-for-sale $ (29) $ 0 $ 0 $ (141) $ 17 $ (60) $ 0 $ 0 Assets supporting experience-rated contractholder liabilities 0 (39) 0 0 8 0 (38) 0 Other assets: Fixed maturities, trading 0 5 0 0 1 0 8 0 Equity securities 0 (6) 0 0 0 0 (19) 0 Other invested assets 4 0 0 0 0 2 1 0 Short-term investments 0 0 0 0 0 (1) 0 0 Cash equivalents (1) 0 0 0 0 0 0 0 Other assets (34) 0 0 0 0 (34) 0 0 Separate account assets(5) 0 0 (66) 0 2 0 0 (52) Liabilities: Future policy benefits 947 0 0 0 0 611 0 0 Policyholders’ account balances 30 0 0 0 0 30 0 0 Other liabilities 2 0 0 0 0 3 0 0 Notes issued by consolidated VIEs 14 0 0 0 0 14 0 0 __________ (1) “Other,” for the periods ended December 31, 2020 and 2019, primarily represent deconsolidation of VIE, reclassifications of certain assets between reporting categories and foreign currency translation. (2) Unrealized gains or losses related to assets still held at the end of the period do not include amortization or accretion of premiums and discounts. (3) Includes U.S. corporate public, U.S. corporate private, foreign corporate public and foreign corporate private securities. (4) Includes asset-backed, commercial mortgage-backed and residential mortgage-backed securities. (5) Separate account assets represent segregated funds that are invested for certain customers. Investment risks associated with market value changes are borne by the customers, except to the extent of minimum guarantees made by the Company with respect to certain accounts. Separate account liabilities are not included in the above table as they are reported at contract value and not fair value in the Company’s Consolidated Statements of Financial Position. (6) Issuances and settlements for Policyholders’ account balances are presented net in the rollforward. Prior period amounts have been updated to conform to current period presentation. (7) Effective January 1, 2020, the changes in unrealized gains and losses for the period included in other comprehensive income for recurring Level 3 fair value measurements held at the end of the reporting period were added prospectively due to adoption of ASU 2018-13. Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement .
Fair Value Assets and Liabilities Measured on Recurring Basis, Derivatives	The following tables present the balances of certain derivative assets and liabilities measured at fair value on a recurring basis, as of the date indicated, by primary underlying risks. These tables exclude embedded derivatives and associated reinsurance recoverables. The derivative assets and liabilities shown below are included in “Other invested assets” or “Other liabilities” in the tables contained within the sections “—Assets and Liabilities by Hierarchy Level” and “—Changes in Level 3 Assets and Liabilities,” above. As of December 31, 2020 Level 1 Level 2 Level 3 Netting(1) Total (in millions) Derivative assets: Interest Rate $ 99 $ 19,091 $ 0 $ $ 19,190 Currency 0 832 0 832 Credit 0 63 0 63 Currency/Interest Rate 0 1,415 0 1,415 Equity 128 1,645 0 1,773 Commodity 0 0 0 0 Netting(1) (21,367) (21,367) Total derivative assets $ 227 $ 23,046 $ 0 $ (21,367) $ 1,906 Derivative liabilities: Interest Rate $ 5 $ 13,503 $ 0 $ $ 13,508 Currency 0 763 0 763 Credit 0 28 0 28 Currency/Interest Rate 0 1,638 0 1,638 Equity 25 2,305 0 2,330 Commodity 0 0 0 0 Netting(1) (17,475) (17,475) Total derivative liabilities $ 30 $ 18,237 $ 0 $ (17,475) $ 792 As of December 31, 2019 Level 1 Level 2 Level 3 Netting(1) Total (in millions) Derivative assets: Interest Rate $ 4 $ 11,238 $ 1 $ $ 11,243 Currency 0 230 0 230 Credit 0 21 0 21 Currency/Interest Rate 0 2,207 0 2,207 Equity 2 683 0 685 Commodity 0 0 0 0 Netting(1) (13,519) (13,519) Total derivative assets $ 6 $ 14,379 $ 1 $ (13,519) $ 867 Derivative liabilities: Interest Rate $ 38 $ 5,176 $ 0 $ $ 5,214 Currency 0 271 0 271 Credit 0 0 0 0 Currency/Interest Rate 0 647 0 647 Equity 3 1,401 0 1,404 Commodity 0 0 0 0 Netting(1) (6,705) (6,705) Total derivative liabilities $ 41 $ 7,495 $ 0 $ (6,705) $ 831 __________ (1) “Netting” amounts represent cash collateral and the impact of offsetting asset and liability positions held with the same counterparty, subject to master netting agreement.
Fair Value Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation, Derivatives	The following tables provide a summary of the changes in fair value of Level 3 derivative assets and liabilities as of the dates indicated, as well as the portion of gains or losses included in income attributable to unrealized gains or losses related to those assets and liabilities still held at the end of their respective periods: Year Ended December 31, 2020 Fair Value, beginning of period Total realized and unrealized gains (losses) (4) Purchases Sales Issuances Settlements Other(1) Transfers into Transfers out of Level 3 (2) Fair Value, end of period Unrealized gains (losses) for assets still held (4) (in millions) Net Derivative - Equity $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 Net Derivative - Interest Rate 1 (1) 0 0 0 0 0 0 0 0 0 Year Ended December 31, 2019 Fair Value, beginning of period Total realized and unrealized gains (losses) (4) Purchases Sales Issuances Settlements Other(1) Transfers into Transfers out of Level 3 (2) Fair Value, end of period Unrealized gains (losses) for assets still held (4) (in millions) Net Derivative - Equity $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 Net Derivative - Interest Rate 2 (1) 0 0 0 0 0 0 0 1 (2) Year Ended December 31, 2018 Fair Value, beginning of period Total realized and unrealized gains (losses) (4) Purchases Sales Issuances Settlements Other(3) Transfers into Transfers out of Level 3 (2) Fair Value, end of period Unrealized gains (losses) for assets still held (4) (in millions) Net Derivative - Equity $ 10 $ 1 $ 0 $ 0 $ 0 $ 0 $ (11) $ 0 $ 0 $ 0 $ 0 Net Derivative - Interest Rate (3) 5 0 0 0 0 0 0 0 2 5 __________ (1) Represents conversion of warrants to equity shares. (2) Transfers into or out of Level 3 are generally reported at the value as of the beginning of the quarter in which the transfers occur for any such positions still held at the end of the quarter. (3) Related to warrants received in restructuring a certain asset that resulted in reclassification of reporting category. (4) Total realized and unrealized gains (losses) as well as unrealized gains (losses) for assets still held at the end of the period are recorded in “Realized investment gains (losses), net.”
Fair Value Measurements, Nonrecurring	The following tables represent information for assets measured at fair value on a nonrecurring basis. The fair value measurement is nonrecurring as these assets are measured at fair value only when there is a triggering event (e.g., an evidence of impairment). Assets included in the table are those that were impaired during the respective reporting periods and that are still held as of the reporting date. The estimated fair values for these amounts were determined using significant unobservable inputs (Level 3). Year Ended December 31, 2020 2019 2018 (in millions) Realized investment gains (losses) net: Commercial mortgage loans(1) $ 0 $ 2 $ (12) Mortgage servicing rights(2) $ (25) $ 11 $ 10 Investment real estate $ (24) $ 0 $ 0 Year Ended December 31, 2020 2019 (in millions) Carrying value after measurement as of period end Commercial mortgage loans(1): $ 0 $ 15 Mortgage servicing rights(2): $ 307 $ 87 Investment real estate $ 31 $ 0 __________ (1) Commercial mortgage loans are valued based on discounted cash flows utilizing market rates or the fair value of the underlying real estate collateral. (2) Mortgage servicing rights are valued using a discounted cash flow model. The model incorporates assumptions for servicing revenues, which are adjusted for expected prepayments, delinquency rates, escrow deposit income and estimated loan servicing expenses. The discount rates incorporated into the model are determined based on the estimated returns a market participant would require for this business plus a liquidity and risk premium. This estimate includes available relevant data from any active market sales of mortgage servicing rights.
Fair Value, Option	The following tables present information regarding assets and liabilities where the fair value option has been elected: Year Ended December 31, 2020 2019 2018 (in millions) Liabilities: Notes issued by consolidated VIEs: Changes in fair value $ (25) $ (15) $ (14) Year Ended December 31, 2020 2019 2018 (in millions) Commercial mortgage and other loans: Interest income $ 17 $ 20 $ 18 Notes issued by consolidated VIEs: Interest expense $ 32 $ 45 $ 36 Year Ended December 31, 2020 2019 (in millions) Commercial mortgage and other loans(1): Fair value as of period end $ 1,092 $ 228 Aggregate contractual principal as of period end $ 1,073 $ 224 Other assets: Fair value as of period end $ 10 $ 10 Notes issued by consolidated VIEs: Fair value as of period end $ 0 $ 800 Aggregate contractual principal as of period end $ 0 $ 857 __________ (1) As of December 31, 2020, for loans for which the fair value option has been elected, there were no loans in non-accrual status and none of the loans were more than 90 days past due and still accruing.
Fair Value Disclosure Financial Instruments Not Carried at Fair Value	The table below presents the carrying amount and fair value by fair value hierarchy level of certain financial instruments that are not reported at fair value. The financial instruments presented below are reported at carrying value on the Company’s Consolidated Statements of Financial Position. In some cases, as described below, the carrying amount equals or approximates fair value. December 31, 2020 Fair Value Carrying Level 1 Level 2 Level 3 Total Total (in millions) Assets: Fixed maturities, held-to-maturity(2) $ 0 $ 2,209 $ 89 $ 2,298 $ 1,930 Assets supporting experience-rated contractholder liabilities 39 0 0 39 39 Commercial mortgage and other loans 0 107 67,477 67,584 64,333 Policy loans 0 0 11,271 11,271 11,271 Other invested assets 0 153 0 153 153 Short-term investments 1,464 26 0 1,490 1,490 Cash and cash equivalents 7,951 268 0 8,219 8,219 Accrued investment income 0 3,193 0 3,193 3,193 Other assets 154 2,917 449 3,520 3,517 Total assets $ 9,608 $ 8,873 $ 79,286 $ 97,767 $ 94,145 Liabilities: Policyholders’ account balances—investment contracts $ 0 $ 36,820 $ 73,653 $ 110,473 $ 107,526 Securities sold under agreements to repurchase 0 10,894 0 10,894 10,894 Cash collateral for loaned securities 0 3,499 0 3,499 3,499 Short-term debt 0 794 146 940 925 Long-term debt(3) 644 21,685 1,139 23,468 19,718 Notes issued by consolidated VIEs 0 0 305 305 305 Other liabilities 0 7,626 48 7,674 7,674 Separate account liabilities—investment contracts 0 86,046 23,631 109,677 109,677 Total liabilities $ 644 $ 167,364 $ 98,922 $ 266,930 $ 260,218 December 31, 2019 Fair Value Carrying Level 1 Level 2 Level 3 Total Total (in millions) Assets: Fixed maturities, held-to-maturity(2) $ 0 $ 2,217 $ 85 $ 2,302 $ 1,933 Assets supporting experience-rated contractholder liabilities 16 0 0 16 16 Commercial mortgage and other loans 0 107 65,558 65,665 63,331 Policy loans 0 0 12,096 12,096 12,096 Other invested assets 0 36 0 36 36 Short-term investments 1,492 39 0 1,531 1,531 Cash and cash equivalents 6,278 1,043 0 7,321 7,321 Accrued investment income 0 3,330 0 3,330 3,330 Other assets 147 2,526 643 3,316 3,315 Total assets $ 7,933 $ 9,298 $ 78,382 $ 95,613 $ 92,909 Liabilities: Policyholders’ account balances—investment contracts $ 0 $ 32,940 $ 69,216 $ 102,156 $ 101,241 Securities sold under agreements to repurchase 0 9,681 0 9,681 9,681 Cash collateral for loaned securities 0 4,213 0 4,213 4,213 Short-term debt 0 1,748 205 1,953 1,933 Long-term debt(3) 1,950 18,188 1,186 21,324 18,646 Notes issued by consolidated VIEs 0 0 474 474 474 Other liabilities 0 6,403 579 6,982 6,982 Separate account liabilities—investment contracts 0 77,134 24,407 101,541 101,541 Total liabilities $ 1,950 $ 150,307 $ 96,067 $ 248,324 $ 244,711 __________ (1) Carrying values presented herein differ from those in the Company’s Consolidated Statements of Financial Position because certain items within the respective financial statement captions are not considered financial instruments or out of scope under authoritative guidance relating to disclosures of the fair value of financial instruments. (2) Excludes notes with fair value of $5,821 million (carrying amount of $4,998 million) and $5,401 million (carrying amount of $4,998 million) as of December 31, 2020 and 2019, respectively, which have been offset with the associated payables under a netting agreement. (3) Includes notes with fair value of $11,921 million (carrying amount of $10,964 million) and $10,158 million (carrying amount of $9,749 million) as of December 31, 2020 and 2019, respectively, which have been offset with the associated receivables under a netting agreement.

Deferred Policy Acquisition C_2

Deferred Policy Acquisition Costs (Tables)	12 Months Ended
	Dec. 31, 2020
Deferred Policy Acquisition Costs Disclosures [Abstract]
Schedule Of Deferred Policy Acquisition Costs	The balances of and changes in DAC as of and for the years ended December 31, are as follows: 2020 2019 2018 (in millions) Balance, beginning of period $ 19,912 $ 20,058 $ 18,992 Capitalization of commissions, sales and issue expenses 2,763 2,966 2,870 Amortization—Impact of assumption and experience unlocking and true-ups (36) (164) (217) Amortization—All other (2,185) (2,168) (2,056) Change due to unrealized investment gains and losses (379) (713) 519 Foreign currency translation 142 (8) (32) Other(1) (1,190) (59) (18) Balance, end of period $ 19,027 $ 19,912 $ 20,058 __________ (1) “Other” for 2020 primarily represents the impact related to the sale of The Prudential Life Insurance Company of Korea, Ltd. of $(1,193) million. “Other” for 2019 primarily represents the impact related to the sale of the Company’s Pramerica of Italy subsidiary of $(46) million and DAC ceded to a third-party reinsurer of $(14) million. “Other” for 2018 represents the impact related to the sale of the Company’s Pramerica of Poland subsidiary of $(38) million and the impact of the elimination of Gibraltar Life’s one-month reporting lag of $20 million.

Value of Business Acquired (Tab

Value of Business Acquired (Tables)	12 Months Ended
	Dec. 31, 2020
Present Value of Future Insurance Profits [Abstract]
Schedule of Value of Business Acquired	The balances of and changes in VOBA as of and for the years ended December 31, are as follows: 2020 2019 2018 (in millions) Balance, beginning of period $ 1,110 $ 1,850 $ 1,591 Amortization—Impact of assumption and experience unlocking and true-ups (317) (139) 0 Amortization—All other (212) (235) (276) Change due to unrealized investment gains and losses 418 (478) 455 Interest 56 64 69 Foreign currency translation 48 10 23 Other 0 38 (12) Balance, end of period $ 1,103 $ 1,110 $ 1,850 The following table provides VOBA balances for the year ended December 31, 2020: VOBA (in millions) CIGNA $ 219 Prudential Annuities Holding Co. $ 29 Gibraltar Life $ 852 Gibraltar BSN Life Berhad $ 3
Estimated Future VOBA Amortization, Net of Interest	The following table provides estimated future amortization, net of interest, for the periods indicated: 2021 2022 2023 2024 2025 (in millions) Estimated future VOBA amortization $ 99 $ 93 $ 85 $ 79 $ 72 2021 2022 2023 2024 2025 (in millions) Estimated future amortization expense of other intangibles $ 101 $ 93 $ 76 $ 46 $ 38

Investments in Operating Join_2

Investments in Operating Joint Ventures (Tables)	12 Months Ended
	Dec. 31, 2020
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments	The following tables set forth summarized combined financial information for significant LP/LLC interests accounted for under the equity method, including the Company’s investments in operating joint ventures that are described in more detail in Note 9. Changes between periods in the tables below reflect changes in the activities within the operating joint ventures and LPs/LLCs, as well as changes in the Company’s level of investment in such entities: December 31, 2020 2019 (in millions) STATEMENTS OF FINANCIAL POSITION Total assets(1) $ 424,712 $ 313,828 Total liabilities(2) $ 35,705 $ 19,274 Partners’ capital 389,007 294,554 Total liabilities and partners’ capital $ 424,712 $ 313,828 Total liabilities and partners’ capital included above $ 9,475 $ 7,438 Equity in LP/LLC interests not included above 666 814 Carrying value $ 10,141 $ 8,252 __________ (1) Amount represents gross assets of each fund where the Company has a significant investment. These assets consist primarily of investments in real estate, investments in securities and other miscellaneous assets. (2) Amount represents gross liabilities of each fund where the Company has a significant investment. These liabilities consist primarily of third-party-borrowed funds, securities repurchase agreements and other miscellaneous liabilities. Years Ended December 31, 2020 2019 2018 (in millions) STATEMENTS OF OPERATIONS Total revenue(1) $ 42,964 $ 11,430 $ 6,264 Total expenses(2) (8,887) (5,800) (3,222) Net earnings (losses) $ 34,077 $ 5,630 $ 3,042 Equity in net earnings (losses) included above $ 744 $ 525 $ 233 Equity in net earnings (losses) of LP/LLC interests not included above 28 11 14 Total equity in net earnings (losses) $ 772 $ 536 $ 247 __________ (1) Amount represents gross revenue of each fund where the Company has a significant investment. This revenue consists of income from investments in real estate, investments in securities and other income. (2) Amount represents gross expenses of each fund where the Company has a significant investment. These expenses consist primarily of interest expense, investment management fees, salary expenses and other expenses. The following table sets forth information related to the Company’s investments in operating joint ventures as of and for the years ended December 31: 2020 2019 2018 (in millions) Investment in operating joint ventures $ 1,394 $ 1,309 $ 1,329 Dividends received from operating joint ventures $ 60 $ 70 $ 93 After-tax equity in earnings of operating joint ventures $ 96 $ 100 $ 76

Goodwill and Other Intangibles

Goodwill and Other Intangibles (Tables)	12 Months Ended
	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The changes in the carrying value of goodwill by reportable segment are as follows: PGIM Retirement Assurance IQ International Other Total (in millions) Goodwill balance, December 31, 2017: $ 235 $ 444 $ 0 $ 164 $ 0 $ 843 Acquisitions 0 11 0 0 11 22 Foreign currency translation (2) 0 0 0 0 (2) Goodwill balance, December 31, 2018: 233 455 0 164 11 863 Acquisitions 22 0 2,128 0 0 2,150 Foreign currency translation (1) 0 0 1 0 0 Goodwill balance, December 31, 2019: 254 455 2,128 165 11 3,013 Foreign currency translation and other(1) 4 0 12 (21) 27 22 Goodwill balance, December 31, 2020: $ 258 $ 455 $ 2,140 $ 144 $ 38 $ 3,035 __________ (1) The goodwill associated with Assurance IQ includes a measurement period adjustment made during 2020. The goodwill reclass between International Businesses and Other relates to an operation that became classified as divested business and transferred to Corporate and Other during 2020.
Schedule of Finite-Lived Intangible Assets	Other intangible balances at December 31, are as follows: 2020 2019 Gross Carrying Amount Accumulated Net Carrying Amount Gross Carrying Amount Accumulated Net Carrying Amount (in millions) Subject to amortization: Mortgage servicing rights $ 819 $ (512) $ 307 $ 745 $ (468) $ 277 Customer relationships 247 (175) 72 244 (153) 91 Software and other 192 (60) 132 201 (38) 163 Not subject to amortization 69 N/A 69 69 N/A 69 Total $ 580 $ 600
Schedule of Indefinite-Lived Intangible Assets	Other intangible balances at December 31, are as follows: 2020 2019 Gross Carrying Amount Accumulated Net Carrying Amount Gross Carrying Amount Accumulated Net Carrying Amount (in millions) Subject to amortization: Mortgage servicing rights $ 819 $ (512) $ 307 $ 745 $ (468) $ 277 Customer relationships 247 (175) 72 244 (153) 91 Software and other 192 (60) 132 201 (38) 163 Not subject to amortization 69 N/A 69 69 N/A 69 Total $ 580 $ 600
Estimated Future Amortization Expense of Other Intangibles	The following table provides estimated future amortization, net of interest, for the periods indicated: 2021 2022 2023 2024 2025 (in millions) Estimated future VOBA amortization $ 99 $ 93 $ 85 $ 79 $ 72 2021 2022 2023 2024 2025 (in millions) Estimated future amortization expense of other intangibles $ 101 $ 93 $ 76 $ 46 $ 38

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Lessee Supplemental Balance Sheet Information Related to Operating Leases	Supplemental balance sheet information related to leases where the Company is the lessee is included below. Right-of-use assets and lease liabilities are included within “Other assets” and “Other liabilities” respectively. December 31, 2020 2019 ($ in millions) Operating Leases: Right-of-use assets $ 466 $ 554 Lease liabilities $ 511 $ 594 Weighted average remaining lease term 6 years 6 years Weighted average discount rate 2.22 % 2.46 %
Lessee Maturities of Operating Lease Liabilities	Maturities of operating lease liabilities are as follows: December 31, 2020 (in millions) 2021 $ 156 2022 121 2023 81 2024 72 2025 46 Thereafter 80 Total lease payments 556 Less imputed interest (45) Total $ 511

Policyholders' Liabilities (Tab

Policyholders' Liabilities (Tables)	12 Months Ended
	Dec. 31, 2020
Liability for Future Policy Benefits and Unpaid Claims and Claims Adjustment Expense [Abstract]
Schedule of Liability for Future Policy Benefits, by Product Segment	Future policy benefits at December 31 for the years indicated are as follows: 2020 2019 (in millions) Life insurance $ 195,245 $ 191,654 Individual and group annuities and supplementary contracts 77,254 75,940 Other contract liabilities 30,873 23,052 Subtotal future policy benefits excluding unpaid claims and claim settlement expenses 303,372 290,646 Unpaid claims and claim settlement expenses 2,971 2,881 Total future policy benefits $ 306,343 $ 293,527 Policyholders’ account balances at December 31 for the years indicated are as follows: 2020 2019 (in millions) Individual annuities $ 47,663 $ 44,391 Group annuities 30,700 27,843 Guaranteed investment contracts and guaranteed interest accounts 14,071 13,759 Funding agreements 6,938 4,119 Interest-sensitive life contracts 41,711 40,364 Dividend accumulation and other deposit type funds 20,599 21,634 Total policyholders’ account balances $ 161,682 $ 152,110

Certain Long-Duration Contrac_2

Certain Long-Duration Contracts with Guarantees (Tables)	12 Months Ended
	Dec. 31, 2020
Long-Duration Contracts, Assumptions Supporting Guarantee Obligations [Abstract]
Schedule of Net Amount of Risk by Product and Guarantee	As of December 31, 2020 and 2019, the Company had the following guarantees associated with these contracts, by product and guarantee type: December 31, 2020 December 31, 2019 In the Event At Annuitization / In the Event At Annuitization / ($ in millions) Annuity Contracts Return of net deposits Account value $ 133,726 $ 17 $ 130,893 $ 16 Net amount at risk $ 214 $ 0 $ 244 $ 0 Average attained age of contractholders 68 years 75 years 67 years 75 years Minimum return or contract value Account value $ 31,157 $ 148,841 $ 32,609 $ 147,511 Net amount at risk $ 2,327 $ 4,203 $ 2,626 $ 4,578 Average attained age of contractholders 70 years 68 years 69 years 68 years Average period remaining until earliest expected annuitization N/A 0.20 years N/A 0.17 years __________ (1) Includes income and withdrawal benefits. December 31, 2020 2019 In the Event of Death ($ in millions) Variable Life, Variable Universal Life and Universal Life Contracts Separate account value $ 8,939 $ 9,983 General account value $ 19,279 $ 18,225 Net amount at risk $ 222,703 $ 245,929 Average attained age of contractholders 55 years 55 years
Schedule of Fair Value of Separate Accounts by Major Category of Investment	Account balances of variable annuity contracts with guarantees were invested in separate account investment options as follows: December 31, 2020 2019 (in millions) Equity funds $ 94,270 $ 93,010 Bond funds 62,549 60,074 Balanced funds 0 1,592 Money market funds 3,156 3,530 Total $ 159,975 $ 158,206
Schedule of Minimum Guaranteed Benefit Liabilities	The table below summarizes the changes in general account liabilities for guarantees. The liabilities for GMDB and GMIB are included in “Future policy benefits” and the related changes in the liabilities are included in “Policyholders’ benefits.” GMAB, GMWB and GMIWB are accounted for as embedded derivatives and are recorded at fair value within “Future policy benefits.” Changes in the fair value of these derivatives, including changes in the Company’s own risk of non-performance, along with any fees attributed or payments made relating to the derivative, are recorded in “Realized investment gains (losses), net.” See Note 6 for additional information regarding the methodology used in determining the fair value of these embedded derivatives. The Company maintains a portfolio of derivative investments that serve as a partial hedge of the risks associated with these products, for which the changes in fair value are also recorded in “Realized investment gains (losses), net.” This portfolio of derivative investments does not qualify for hedge accounting treatment under U.S. GAAP. Additionally, the Company externally reinsures the guaranteed benefit features associated with certain contracts. See Note 14 for further information regarding the external reinsurance arrangement. GMDB GMIB GMAB/GMWB/GMIWB Variable Life, Annuity Annuity Annuity (in millions) Balance at December 31, 2017 $ 5,110 $ 697 $ 419 $ 8,721 Incurred guarantee benefits(1) 791 125 (14) 206 Paid guarantee benefits (77) (88) (5) 0 Change in unrealized investment gains and losses (406) (20) (20) 0 Other(2) 0 (1) (2) 0 Balance at December 31, 2018 5,418 713 378 8,927 Incurred guarantee benefits(1) 1,492 82 (8) 3,905 Paid guarantee benefits (111) (69) (4) 0 Change in unrealized investment gains and losses 805 27 (15) 0 Other(2) (2) 0 4 (1) Balance at December 31, 2019 7,602 753 355 12,831 Incurred guarantee benefits(1) 1,389 162 12 6,103 Paid guarantee benefits (126) (89) (4) 0 Change in unrealized investment gains and losses 721 38 (8) 0 Other(2)(3) (77) (1) 13 (53) Balance at December 31, 2020 $ 9,509 $ 863 $ 368 $ 18,881 __________ (1) Incurred guarantee benefits include the portion of assessments established as additions to reserves as well as changes in estimates affecting the reserves. Also includes changes in the fair value of features considered to be derivatives. (2) Other primarily represents foreign currency translation.
Deferred Sales Inducements	Changes in DSI, reported as “Interest credited to policyholders’ account balances,” are as follows: Sales Inducements (in millions) Balance at December 31, 2017 $ 1,168 Capitalization 3 Amortization—Impact of assumption and experience unlocking and true-ups (6) Amortization—All other (166) Change in unrealized investment gains and losses 25 Balance at December 31, 2018 1,024 Capitalization 1 Amortization—Impact of assumption and experience unlocking and true-ups 108 Amortization—All other (163) Change in unrealized investment gains and losses (35) Balance at December 31, 2019 935 Capitalization 1 Amortization—Impact of assumption and experience unlocking and true-ups 104 Amortization—All other (166) Change in unrealized investment gains and losses (54) Balance at December 31, 2020 $ 820

Reinsurance (Tables)

Reinsurance (Tables)	12 Months Ended
	Dec. 31, 2020
Reinsurance Disclosures [Abstract]
Effects of Reinsurance	Reinsurance amounts included in the Consolidated Statements of Operations for premiums, policy charges and fee income, and policyholders’ benefits for the years ended December 31, are as follows: 2020 2019 2018 (in millions) Direct premiums $ 29,091 $ 33,260 $ 35,048 Reinsurance assumed 4,336 3,022 2,574 Reinsurance ceded (2,287) (2,080) (1,843) Premiums $ 31,140 $ 34,202 $ 35,779 Direct policy charges and fee income $ 5,341 $ 5,252 $ 5,245 Reinsurance assumed 1,192 1,181 1,189 Reinsurance ceded (504) (455) (432) Policy charges and fee income $ 6,029 $ 5,978 $ 6,002 Direct policyholders’ benefits $ 32,514 $ 35,601 $ 38,079 Reinsurance assumed 5,659 4,304 3,659 Reinsurance ceded (3,114) (3,085) (2,334) Policyholders’ benefits $ 35,059 $ 36,820 $ 39,404
Reinsurance Recoverables	Reinsurance recoverables at December 31, are as follows: 2020 2019 (in millions) Individual and group annuities(1) $ 273 $ 688 Life insurance(2) 6,649 5,535 Other reinsurance 432 403 Total reinsurance recoverables(3) $ 7,354 $ 6,626 __________ (1) Primarily represents reinsurance recoverables established under the reinsurance arrangements associated with the acquisition of the retirement business of CIGNA. The Company has recorded reinsurance recoverables related to the acquisition of the retirement business of CIGNA of $27 million and $553 million at December 31, 2020 and 2019, respectively. Also included is $204 million and $95 million of reinsurance recoverables at December 31, 2020 and 2019, respectively, established under the reinsurance agreement with Union Hamilton related to the ceding of certain embedded derivative liabilities associated with the Company’s guaranteed benefits. (2) Includes $2,245 million and $2,105 million of reinsurance recoverables established at December 31, 2020 and 2019, respectively, under the reinsurance arrangements associated with the acquisition of the Hartford Life Business. The Company has also recorded reinsurance payables related to the Hartford Life Business acquisition of $1,362 million and $1,290 million at December 31, 2020 and 2019, respectively. (3) Net of $(5) million of loss allowance at December 31, 2020.

Closed Block (Tables)

Closed Block (Tables)	12 Months Ended
	Dec. 31, 2020
Closed Block Disclosure [Abstract]
Schedule of Closed Block Liabilities and Assets	Closed Block liabilities and assets designated to the Closed Block at December 31, as well as maximum future earnings to be recognized from these liabilities and assets, are as follows: 2020 2019 (in millions) Closed Block liabilities Future policy benefits $ 46,762 $ 47,613 Policyholders’ dividends payable 635 717 Policyholders’ dividend obligation 8,787 6,149 Policyholders’ account balances 4,874 4,973 Other Closed Block liabilities 3,141 4,049 Total Closed Block liabilities 64,199 63,501 Closed Block assets Fixed maturities, available-for-sale, at fair value 41,959 41,146 Fixed maturities, trading, at fair value 277 256 Equity securities, at fair value 2,345 2,245 Commercial mortgage and other loans 8,421 8,629 Policy loans 4,064 4,264 Other invested assets 3,610 3,333 Short-term investments 124 227 Total investments 60,800 60,100 Cash and cash equivalents 269 191 Accrued investment income 431 456 Other Closed Block assets 92 93 Total Closed Block assets 61,592 60,840 Excess of reported Closed Block liabilities over Closed Block assets 2,607 2,661 Portion of above representing accumulated other comprehensive income (loss): Net unrealized investment gains (losses) 5,810 3,280 Allocated to policyholder dividend obligation (5,867) (3,332) Future earnings to be recognized from Closed Block assets and Closed Block liabilities $ 2,550 $ 2,609
Schedule of Closed Block Dividend Obligation	Information regarding the policyholder dividend obligation is as follows: 2020 2019 (in millions) Balance, January 1 $ 6,149 $ 3,150 Cumulative effect adjustment from the adoption of ASU 2016-13(1) (13) 0 Impact from earnings allocable to policyholder dividend obligation 117 564 Change in net unrealized investment gains (losses) allocated to policyholder dividend obligation 2,534 2,435 Balance, December 31 $ 8,787 $ 6,149
Schedule of Closed Block Revenues Benefits Expenses	Closed Block revenues and benefits and expenses for the years ended December 31, are as follows: 2020 2019 2018 (in millions) Revenues Premiums $ 1,981 $ 2,207 $ 2,301 Net investment income 2,255 2,332 2,298 Realized investment gains (losses), net 182 521 130 Other income (loss) 362 589 (39) Total Closed Block revenues 4,780 5,649 4,690 Benefits and Expenses Policyholders’ benefits 2,758 2,906 2,972 Interest credited to policyholders’ account balances 127 130 132 Dividends to policyholders 1,549 2,187 1,236 General and administrative expenses 327 351 364 Total Closed Block benefits and expenses 4,761 5,574 4,704 Closed Block revenues, net of Closed Block benefits and expenses, before income taxes 19 75 (14) Income tax expense (benefit) (43) 10 (78) Closed Block revenues, net of Closed Block benefits and expenses and income taxes $ 62 $ 65 $ 64

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit)	The following schedule discloses significant components of income tax expense (benefit) for each year presented: Year Ended December 31, 2020 2019 2018 (in millions) Current tax expense (benefit): U.S. $ (571) $ 86 $ (346) State and local 11 2 7 Foreign 848 879 681 Total current tax expense (benefit) 288 967 342 Deferred tax expense (benefit): U.S. (362) 57 80 State and local 1 (1) 1 Foreign (8) (76) 399 Total deferred tax expense (benefit) (369) (20) 480 Total income tax expense (benefit) on income (loss) before equity in earnings of operating joint ventures (81) 947 822 Income tax expense (benefit) on equity in earnings of operating joint ventures 47 43 31 Income tax expense (benefit) on discontinued operations 0 0 0 Income tax expense (benefit) reported in equity related to: Other comprehensive income (loss) 1,252 3,811 (1,812) Stock-based compensation programs 0 0 0 Total income taxes $ 1,218 $ 4,801 $ (959)
Schedule of Effective Income Tax Rate Reconciliation	The differences between income taxes expected at the U.S. federal statutory income tax rate of 21% applicable for 2020, 2019 and 2018, and the reported income tax expense (benefit) are summarized as follows: Year Ended December 31, 2020 2019(1) 2018(1) (in millions) Expected federal income tax expense (benefit) $ (68) $ 1,068 $ 1,015 Non-taxable investment income (228) (270) (250) Foreign taxes at other than U.S. rate 252 234 347 Low-income housing and other tax credits (112) (118) (112) Changes in tax law (194) (2) (321) Sale of subsidiary 277 4 10 Non-controlling interest (48) (11) 0 Non-deductible expenses 14 23 33 Change in valuation allowance 17 (1) (6) State taxes 10 1 6 Other (1) 19 100 Reported income tax expense (benefit) $ (81) $ 947 $ 822 Effective tax rate 25.1 % 18.6 % 17.0 %
Schedule of Deferred Tax Assets and Liabilities	As of December 31, 2020 2019 (in millions) Deferred tax assets: Insurance reserves $ 1,926 $ 730 Policyholders’ dividends 1,901 1,365 Net operating and capital loss carryforwards 205 189 Employee benefits 929 973 Other 206 113 Deferred tax assets before valuation allowance 5,167 3,370 Valuation allowance (143) (136) Deferred tax assets after valuation allowance 5,024 3,234 Deferred tax liabilities: Net unrealized investment gains 13,841 11,109 Deferred policy acquisition costs 3,518 3,799 Investments 19 138 Value of business acquired 270 262 Deferred tax liabilities 17,648 15,308 Net deferred tax liability $ (12,624) $ (12,074)
Operating And Capital Loss Carryforwards	The valuation allowance includes amounts recorded in connection with deferred tax assets as follows: Federal State Foreign Operations Total (in millions) Balance at January 1, 2018 $ 0 $ 196 $ 18 $ 214 Charged to costs and expenses 0 24 (6) 18 Other adjustments 0 (114) (1) (115) Balance at December 31, 2018 0 106 11 117 Charged to costs and expenses 3 34 (5) 32 Other adjustments 0 (13) 0 (13) Balance at December 31, 2019 3 127 6 136 Charged to costs and expenses 12 5 5 22 Other adjustments 0 (16) 1 (15) Balance at December 31, 2020 $ 15 $ 116 $ 12 $ 143 The following table sets forth the amount and expiration dates of federal, state and foreign operating, capital loss and tax credit carryforwards for tax purposes, as of the periods indicated: As of December 31, 2020 2019 (in millions) Federal net operating and capital loss carryforwards(1) $ 231 $ 33 State net operating and capital loss carryforwards(2) $ 1,880 $ 2,005 Foreign net operating and capital loss carryforwards(3) $ 136 $ 203 Federal foreign tax credit carryforwards(4) $ 9 $ 4 General business credits(5) $ 82 $ 0 __________ (1) Expires in 2025. (2) Expires between 2021 and 2040. (3) $2 million expires between 2021 and 2035 and $54 million has an unlimited carryforward. (4) Expires in 2030. These relate to foreign non-general basket tax credits. (5) Expires in 2040.
Undistributed Earnings Of Foreign Subsidiaries Assuming Permanent Reinvestment	The following table sets forth the undistributed earnings of foreign subsidiaries, where the Company assumes indefinite reinvestment of such earnings and for which, in 2020, 2019, and 2018, U.S. deferred taxes have not been provided, and for which foreign deferred withholding taxes have not been provided. The net tax liability that may arise if the 2020 earnings were remitted which includes any foreign exchange impacts, is immaterial. At December 31, 2020 2019 2018 (in millions) Undistributed earnings of foreign subsidiaries (assuming indefinite reinvestment for U.S. tax purposes)(1) N/A N/A N/A Undistributed earnings of foreign subsidiaries (assuming indefinite reinvestment only for Withholding or other non-U.S. Taxes) $ 176 $ 2,764 $ 2,475 __________ (1) Consistent with the Tax Act of 2017, the Company provides U.S. income tax for all unremitted earnings of the Company’s foreign affiliates as of December 31, 2017.
Unrecognized Tax Benefits Reconciliation	The following table reconciles the total amount of unrecognized tax benefits at the beginning and end of the periods indicated: 2020 2019 2018 (in millions) Balance at January 1, $ 18 $ 20 $ 45 Increases in unrecognized tax benefits—prior years 0 0 20 (Decreases) in unrecognized tax benefits—prior years (1) (2) 0 Increases in unrecognized tax benefits—current year 0 0 0 (Decreases) in unrecognized tax benefits—current year 0 0 0 Settlements with taxing authorities 0 0 (45) Balance at December 31, $ 17 $ 18 $ 20 Unrecognized tax benefits that, if recognized, would favorably impact the effective rate $ 0 $ 0 $ 0
Amounts Recognized In Consolidated Financial Statements For Tax Related Interest And Penalties	The amounts recognized in the consolidated financial statements for tax-related interest and penalties for the years ended December 31 are as follows: 2020 2019 2018 (in millions) Interest and penalties recognized in the Consolidated Statements of Operations $ 1 $ 1 $ 1 2020 2019 (in millions) Interest and penalties recognized in liabilities in the Consolidated Statements of Financial Position $ 3 $ 2
Open Tax Years By Major Tax Jurisdictions	Listed below are the tax years that remain subject to examination, by major tax jurisdiction, as of December 31, 2020: Major Tax Jurisdiction Open Tax Years United States 2014-2020 Japan Fiscal years ended March 31, 2016-2020 Korea 2015-2020

Short-Term and Long-Term Debt (

Short-Term and Long-Term Debt (Tables)	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Short-term Debt	The table below presents the Company’s short-term debt at December 31, for the years indicated as follows: 2020 2019 ($ in millions) Commercial paper: Prudential Financial $ 25 $ 25 Prudential Funding, LLC 355 524 Subtotal commercial paper 380 549 Current portion of long-term debt: Senior Notes 399 1,179 Mortgage Debt 128 192 Surplus Notes subject to set-off arrangements (1) 500 0 Subtotal Current portion of long-term debt 1,027 1,371 Other(2) 18 13 Subtotal 1,425 1,933 Less: Assets under set-off arrangements (1) 500 0 Total short-term debt(3) $ 925 $ 1,933 Supplemental short-term debt information: Portion of commercial paper borrowings due overnight $ 75 $ 224 Daily average commercial paper outstanding for the quarter ended $ 1,602 $ 1,702 Weighted average maturity of outstanding commercial paper, in days 18 6 Weighted average interest rate on outstanding commercial paper 0.11 % 1.61 % __________ (1) The surplus notes have corresponding assets where rights to set-off exist, thereby reducing the amount of surplus notes. (2) Includes $18 million drawn on a revolving line of credit held by a subsidiary at December 31, 2020. (3) Includes Prudential Financial debt of $424 million and $1,204 million at December 31, 2020 and 2019, respectively.
Schedule of Line of Credit Facilities	As of December 31, 2020, the Company maintained syndicated, unsecured committed credit facilities as described below. Borrower Original Expiration Capacity Amount Outstanding (in millions) Prudential Financial and Prudential Funding 5 years Jul 2022 $ 4,000 $ 0 Prudential Holdings of Japan, Inc. 5 years Sep 2024 ¥ 100,000 ¥ 0
Schedule of Long-term Debt Instruments	Maturity Rate(1) December 31, 2020 2019 ($ in millions) Fixed-rate notes: Surplus notes 2025 8.3% $ 343 $ 342 Surplus notes subject to set-off arrangements 2022-2038 2.23%-5.26% 8,134 7,484 Senior notes 2023-2051 1.5%-6.75% 11,179 10,084 Mortgage debt(2) 2027 3.85% 24 104 Floating-rate notes: Line of Credit 2023 1.41%-3.10% 300 300 Surplus notes subject to set-off arrangements 2024-2037 1.61%-3.5% 2,330 2,265 Mortgage debt(3) 2022-2024 1.43%-3.88% 257 241 Junior subordinated notes(4) 2042-2060 1.55%-5.88% 7,615 7,575 Subtotal 30,182 28,395 Less: assets under set-off arrangements(5) 10,464 9,749 Total long-term debt(6) $ 19,718 $ 18,646 __________ (1) Ranges of interest rates are for the year ended December 31, 2020. (2) Includes $0 and $43 million of debt denominated in foreign currency at December 31, 2020 and 2019, respectively. (3) Includes $29 million and $53 million of debt denominated in foreign currency at December 31, 2020 and 2019, respectively. (4) Includes Prudential Financial debt of $7,554 million and subsidiary debt of $60 million denominated in foreign currency at December 31, 2020. (5) Assets under set-off arrangements represent a reduction in the amount of surplus notes included in long-term debt, resulting from an arrangement where valid rights of set-off exist and it is the intent of both parties to settle on a net basis under legally enforceable arrangements. These assets include available-for-sale securities that are reported at fair value.
Schedule of Maturities of Long-term Debt	The following table presents the contractual maturities of the Company’s long-term debt as of December 31, 2020: Calendar Year 2022 2023 2024 2025 2026 and Total (in millions) Long-term debt $ 136 $ 572 $ 724 $ 348 $ 17,938 $ 19,718
Junior Subordinated Notes	notes outstanding, along with their key terms, are as follows: Issue Date Principal Initial Investor Optional Interest Rate ($ in millions) Aug-12 $ 1,000 5.88 % Institutional 9/15/2022 LIBOR + 4.18% 9/15/2042 Nov-12 $ 1,500 5.63 % Institutional 6/15/2023 LIBOR + 3.92% 6/15/2043 Mar-13 $ 500 5.20 % Institutional 3/15/2024 LIBOR + 3.04% 3/15/2044 May-15 $ 1,000 5.38 % Institutional 5/15/2025 LIBOR + 3.03% 3/15/2045 Sep-17 $ 750 4.50 % Institutional 9/15/2027 LIBOR + 2.38% 9/15/2047 Aug-18 $ 565 5.63 % Retail 8/15/2023 5.63% 8/13/2058 Sep-18 $ 1,000 5.70 % Institutional 9/15/2028 LIBOR + 2.67% 9/15/2048 Aug-20 $ 500 4.13 % Retail 9/1/2025 4.13% 9/1/2060 Aug-20 $ 800 3.70 % Institutional 10/1/2030 US Treasury + 3.04% 10/1/2050

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	12 Months Ended
	Dec. 31, 2020
Retirement Benefits [Abstract]
Status of Employee Benefit Plans	The status of these plans as of December 31, 2020 and 2019 is summarized below: Pension Benefits Other Postretirement Benefits 2020 2019 2020 2019 (in millions) Change in benefit obligation Benefit obligation at the beginning of period $ (14,637) $ (13,185) $ (1,993) $ (1,876) Service cost (321) (291) (24) (22) Interest cost (429) (489) (64) (78) Plan participants’ contributions 0 0 (22) (21) Medicare Part D subsidy receipts 0 0 (7) (7) Amendments 0 0 0 (27) Curtailments 16 0 0 0 Actuarial gains (losses), net(1) (978) (1,499) (101) (124) Settlements 43 45 0 0 Special termination benefits (7) (26) 0 (1) Benefits paid 878 831 171 165 Acquisition/Divestiture 46 0 0 0 Foreign currency changes and other (94) (23) 0 (2) Benefit obligation at end of period $ (15,483) $ (14,637) $ (2,040) $ (1,993) Change in plan assets Plan assets at beginning of period $ 13,906 $ 12,807 $ 1,557 $ 1,432 Actual return on plan assets 1,740 1,681 171 264 Employer contributions 200 280 10 5 Plan participants’ contributions 0 0 22 21 Disbursement for settlements (43) (45) 0 0 Benefits paid (878) (831) (171) (165) Acquisition/Divestiture (51) 0 0 0 Foreign currency changes and other 23 14 0 0 Plan assets at end of period $ 14,897 $ 13,906 $ 1,589 $ 1,557 Funded status at end of period $ (586) $ (731) $ (451) $ (436) Amounts recognized in the Statements of Financial Position Prepaid benefit cost $ 2,426 $ 2,204 $ 0 $ 0 Accrued benefit liability (3,012) (2,935) (451) (436) Net amount recognized $ (586) $ (731) $ (451) $ (436) Items recorded in “Accumulated other comprehensive income (loss)” not yet recognized as a component of net periodic (benefit) cost: Prior service cost $ (10) $ (12) $ 59 $ 65 Net actuarial loss 3,972 4,191 354 341 Net amount not recognized $ 3,962 $ 4,179 $ 413 $ 406 Accumulated benefit obligation $ (14,690) $ (13,934) $ (2,040) $ (1,993) __________ (1) For 2020 and 2019, actuarial losses for pension and other postretirement benefits were primarily driven by a decrease in the discount rate.
Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets	2020 2019 (in millions) Projected benefit obligation $ 3,012 $ 2,997 Fair value of plan assets $ 0 $ 62
Schedule of Net Benefit Costs	Net periodic (benefit) cost included in “General and administrative expenses” in the Company’s Consolidated Statements of Operations for the years ended December 31, includes the following components: Pension Benefits Other Postretirement 2020 2019 2018 2020 2019 2018 (in millions) Service cost $ 321 $ 291 $ 314 $ 24 $ 22 $ 23 Interest cost 429 489 448 64 78 70 Expected return on plan assets (804) (816) (817) (100) (95) (108) Amortization of prior service cost (4) (4) (4) 6 4 1 Amortization of actuarial (gain) loss, net 262 217 213 16 24 17 Settlements 9 59 8 0 0 0 Special termination benefits(1)(2)(3) 7 26 1 0 1 0 Net periodic (benefit) cost $ 220 $ 262 $ 163 $ 10 $ 34 $ 3 __________ (1) For 2020, 2019 and 2018, certain employees were provided special termination benefits under non-qualified plans in the form of unreduced early retirement benefits as a result of their involuntary termination. (2) For 2020, certain employees were provided special termination benefits under non-qualified plans in the form of unreduced early retirement benefits as a result of their participation in the Voluntary Separation Program that was offered to eligible U.S.-based employees in 2019. (3) For 2019, certain employees were provided special termination benefits in the qualified and non-qualified plans in the form of retirement eligibility bridging as a result of their participation in the Voluntary Separation Program that was offered to eligible U.S.-based employees.
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets	2020 2019 (in millions) Accumulated benefit obligation $ 2,834 $ 2,760 Fair value of plan assets $ 0 $ 7
Schedule of Changes in Accumulated Other Comprehensive Income	The amounts recorded in AOCI as of the end of the period, which have not yet been recognized as a component of net periodic (benefit) cost, and the related changes in these items during the period that are recognized in “Other comprehensive income (loss)” are as follows: Pension Benefits Other Postretirement Prior Net Prior Net (in millions) Balance, December 31, 2017 $ (22) $ 3,611 $ 10 $ 344 Amortization for the period 4 (213) (1) (17) Deferrals for the period(1) 3 430 32 82 Impact of foreign currency changes and other 0 1 0 (1) Balance, December 31, 2018 (15) 3,829 41 408 Amortization for the period 4 (217) (4) (24) Deferrals for the period(2) 0 634 27 (45) Impact of foreign currency changes and other (1) (55) 1 2 Balance, December 31, 2019 (12) 4,191 65 341 Amortization for the period 4 (262) (6) (16) Deferrals for the period(3) 0 42 0 30 Impact of foreign currency changes and other (2) 1 0 (1) Balance, December 31, 2020 $ (10) $ 3,972 $ 59 $ 354 __________ (1) For 2018, deferred losses for pension and other postretirement benefits were driven by unfavorable asset performance partially offset by an increase in discount rate. (2) For 2019, deferred losses for pension were driven by a decrease in discount rate partially offset by favorable asset performance. Deferred gains for other postretirement benefits were driven by favorable asset performance partially offset by a decrease in discount rate. (3) For 2020, deferred losses for pension and other postretirement benefits were driven by a decrease in discount rate partially offset by favorable asset performance.
Schedule of Assumptions Used	The Company’s assumptions related to the calculation of the domestic benefit obligation (end of period) and the determination of net periodic (benefit) cost (beginning of period) are presented in the table below: Pension Benefits Other Postretirement Benefits 2020 2019 2018 2020 2019 2018 Weighted average assumptions Discount rate (beginning of period) 3.30 % 4.30 % 3.65 % 3.25 % 4.30 % 3.60 % Discount rate (end of period) 2.55 % 3.30 % 4.30 % 2.40 % 3.25 % 4.30 % Rate of increase in compensation levels (beginning of period) 4.50 % 4.50 % 4.50 % N/A N/A N/A Rate of increase in compensation levels (end of period) 4.50 % 4.50 % 4.50 % N/A N/A N/A Expected return on plan assets (beginning of period) 6.00 % 6.50 % 6.25 % 6.75 % 7.00 % 7.00 % Interest crediting rate (beginning of period) 4.30 % 4.30 % 4.30 % N/A N/A N/A Interest crediting rate (end of period) 4.25 % 4.30 % 4.30 % N/A N/A N/A Health care cost trend rates (beginning of period) N/A N/A N/A 6.25 % 6.00 % 6.20 % Health care cost trend rates (end of period) N/A N/A N/A 6.25 % 6.25 % 6.00 % For 2020, 2019 and 2018, the ultimate health care cost trend rate after gradual decrease until: 2028, 2024, 2024, (beginning of period) N/A N/A N/A 5.00 % 5.00 % 5.00 % For 2020, 2019 and 2018, the ultimate health care cost trend rate after gradual decrease until: 2028, 2028, 2024 (end of period) N/A N/A N/A 4.50 % 5.00 % 5.00 %
Schedule of Plans Assets-Fair Value and Allocation % (Target/Actual)	Asset allocation targets as of December 31, 2020 are as follows: Pension Postretirement Minimum Maximum Minimum Maximum Asset Category U.S. Equities 2 % 8 % 31 % 70 % International Equities 2 % 9 % 2 % 22 % Fixed Maturities 54 % 67 % 10 % 45 % Short-term Investments 0 % 12 % 0 % 31 % Real Estate 2 % 16 % 0 % 0 % Other 4 % 27 % 0 % 0 % Pension plan asset allocations in accordance with the investment guidelines are as follows: As of December 31, 2020 As of December 31, 2019 (5) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total (in millions) Fixed Maturities: U.S. government securities (federal): Mortgage-backed $ 0 $ 1 $ 0 $ 1 $ 0 $ 1 $ 0 $ 1 Other U.S. government securities 0 985 0 985 0 783 0 783 U.S. government securities (state & other) 0 588 0 588 0 562 0 562 Non-U.S. government securities 0 103 0 103 0 93 0 93 Corporate Debt: Corporate bonds 0 4,290 0 4,290 0 4,281 0 4,281 Asset-backed 0 25 0 25 0 22 0 22 Collateralized Mortgage Obligations 0 614 0 614 0 485 0 485 Collateralized Loan Obligations 0 441 0 441 0 397 0 397 Interest rate swaps (1) 0 0 0 0 0 2 0 2 Registered investment companies 96 0 0 96 7 0 0 7 Other (2) 33 2 35 70 37 (2) 44 79 Unrealized gain (loss) on investment of securities lending collateral (3) 0 0 0 0 0 0 0 0 Subtotal fixed maturities 129 7,049 35 7,213 44 6,624 44 6,712 Real Estate: Partnerships 0 0 838 838 0 0 688 688 Other: Partnerships 0 0 1,234 1,234 0 0 973 973 Hedge funds 0 0 1,327 1,327 0 0 1,312 1,312 Subtotal other 0 0 2,561 2,561 0 0 2,285 2,285 Net assets in the fair value hierarchy $ 129 $ 7,049 $ 3,434 $ 10,612 $ 44 $ 6,624 $ 3,017 $ 9,685 Investments Measured at Net Asset Value, as a practical expedient (4) Pooled separate accounts $ 2,659 $ 2,869 Common/collective trusts 1,440 1,185 United Kingdom insurance pooled funds 186 167 Net assets at fair value $ 14,897 $ 13,906 _______________ (1) Interest rate swaps notional amount is $13 million and $2,462 million for the years ended December 31, 2020 and 2019, respectively. (2) This category primarily consists of cash and cash equivalents, short-term investments, payables and receivables, and open future contract positions (including fixed income collateral). (3) The contractual net value of the investment of securities lending collateral invested primarily in short-term bond funds is $586 million and $135 million and the liability for securities lending collateral is $586 million and $135 million for the years ended December 31, 2020 and 2019, respectively. (4) The pension plan excludes from the fair value hierarchy investments that are measured at NAV per share (or its equivalent) as a practical expedient to estimate fair value. (5) Prior period amounts have been updated to conform to the current year presentation. Postretirement plan asset allocations in accordance with the investment guidelines are as follows: As of December 31, 2020 As of December 31, 2019 (3) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total (in millions) Equities: U.S. Equities $ 0 $ 14 $ 0 $ 14 $ 0 $ 14 $ 0 $ 14 International Equities 0 9 0 9 0 8 0 8 Subtotal equities 0 23 0 23 0 22 0 22 Fixed Maturities: U.S. government securities (federal): Other U.S. government securities 0 9 0 9 0 20 0 20 Non-U.S. government securities 0 1 0 1 0 2 0 2 Corporate Debt: Corporate bonds 0 7 0 7 0 53 0 53 Asset-backed 0 2 0 2 0 16 0 16 Collateralized Mortgage Obligations 0 3 0 3 0 10 0 10 Collateralized Loan Obligations 0 4 0 4 0 15 0 15 Registered investment companies 19 0 0 19 4 0 0 4 Equities 0 22 0 22 0 20 0 20 Other (1) 0 0 0 0 0 0 1 1 Subtotal fixed maturities 19 48 0 67 4 136 1 141 Short-term Investments: Registered investment companies 165 0 0 165 163 0 0 163 Net assets in the fair value hierarchy $ 184 $ 71 $ 0 $ 255 $ 167 $ 158 $ 1 $ 326 Investments Measured at Net Asset Value, as a practical expedient (2) Common trusts $ 279 $ 273 Net assets at fair value 534 599 Variable Life Insurance Policies at contract value 1,055 958 Total net assets $ 1,589 $ 1,557 __________ (1) This category primarily consists of cash and cash equivalents, short-term investments, payables and receivables and open future contract positions (including fixed income collateral). (2) The postretirement plan excludes from the fair value hierarchy investments that are measured at NAV per share (or its equivalent) as a practical expedient to estimate fair value. (3) Prior period amounts have been updated to conform to the current year presentation.
Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets	Fixed Maturities Real Estate(1) Other(1) Corporate Bonds Partnerships Partnerships Hedge Fund (in millions) Fair Value, January 1, 2019 $ 2 $ 62 $ 482 $ 830 $ 1,463 Actual Return on Assets: Relating to assets still held at the reporting date 0 0 41 68 15 Relating to assets sold during the period 0 0 0 0 0 Purchases, sales and settlements 0 (18) 165 75 (166) Transfers in and/or out of Level 3 (2) (2) 0 0 0 0 Fair Value, December 31, 2019 $ 0 $ 44 $ 688 $ 973 $ 1,312 Actual Return on Assets: Relating to assets still held at the reporting date 0 0 11 161 116 Relating to assets sold during the period 0 0 0 0 0 Purchases, sales and settlements 0 (9) 139 100 (101) Transfers in and/or out of Level 3 0 0 0 0 0 Fair Value, December 31, 2020 $ 0 $ 35 $ 838 $ 1,234 $ 1,327 __________ (1) Prior period amounts have been updated to conform to the current year presentation (2) The transfers from level 3 to level 2 are due to the availability of external pricing sources. Fixed Maturities Collateralized Mortgage Obligations (in millions) Fair Value, January 1, 2019 $ 1 $ 1 $ 3 Actual Return on Assets: Relating to assets still held at the reporting date 0 0 0 Relating to assets sold during the period 0 0 0 Purchases, sales and settlements 0 (1) (2) Transfers in and/or out of Level 3 (1) (1) 0 0 Fair Value, December 31, 2019 $ 0 $ 0 $ 1 Actual Return on Assets: Relating to assets still held at the reporting date 0 0 0 Relating to assets sold during the period 0 0 0 Purchases, sales and settlements 0 0 (1) Transfers in and/or out of Level 3 0 0 0 Fair Value, December 31, 2020 $ 0 $ 0 $ 0 __________ (1) The transfers from level 3 to level 2 are due to the availability of external pricing sources.
Schedule of Expected Benefit Payments	The expected benefit payments for the Company’s pension and postretirement plans, as well as the expected Medicare Part D subsidy receipts related to the Company’s postretirement plan, for the years indicated are as follows: Pension Benefit Other Other (in millions) 2021 $ 802 $ 148 $ 7 2022 824 149 7 2023 862 148 6 2024 866 148 6 2025 897 145 6 2026-2030 4,646 669 28 Total $ 8,897 $ 1,407 $ 60

Equity (Tables)

Equity (Tables)	12 Months Ended
	Dec. 31, 2020
Stockholders' Equity Note [Abstract]
Common Stock Disclosure	The changes in the number of shares of Common Stock issued, held in treasury and outstanding, are as follows for the periods indicated: Common Stock Issued Held In Outstanding (in millions) Balance, December 31, 2017 660.1 237.5 422.6 Common Stock issued 0.0 0.0 0.0 Common Stock acquired 0.0 14.9 (14.9) Stock-based compensation programs(1) 0.0 (3.0) 3.0 Balance, December 31, 2018 660.1 249.4 410.7 Common Stock issued(2)(3) 6.2 (5.5) 11.7 Common Stock acquired 0.0 27.2 (27.2) Stock-based compensation programs(1) 0.0 (3.6) 3.6 Balance, December 31, 2019 666.3 267.5 398.8 Common Stock issued 0.0 0.0 0.0 Common Stock acquired 0.0 6.7 (6.7) Stock-based compensation programs(1) 0.0 (4.3) 4.3 Balance, December 31, 2020 666.3 269.9 396.4 __________ (1) Represents net shares issued from treasury pursuant to the Company’s stock-based compensation programs. (2) In August 2019, as a result of the note holders’ exercise of the exchange option on $500 million of surplus notes, the Company issued approximately 6.2 million shares of Common Stock at an exchange rate equal to 12.3877 shares of Common Stock per each $1,000 principal amount of surplus notes. The Company’s obligations under the surplus notes are now satisfied. For additional information, see Note 20. (3) In October 2019, the Company issued approximately 5.5 million shares of restricted Common Stock as part of consideration paid for the Assurance IQ acquisition. For additional information about the acquisition, see Note 1.
Share Repurchases Authorizations	The following table summarizes share repurchases for each of the past three years as well as the share repurchase authorization for 2021, which was approved by the Board of Directors in February 2021: January 1, 2021 - January 1, 2020 - January 1, 2019 - January 1, 2018 - Total Board authorized share repurchase amount ($ in billions) $ 1.5 $ 2.0 $ 2.5 $ 1.5 Total number of shares repurchased under this authorization as of the period end (in millions) N/A* 6.7 27.2 14.9 __________ * Share repurchase authorization for a future period. (1) In April 2020, the Company suspended Common Stock repurchases under the 2020 share repurchase authorization and did not resume share repurchases for the remainder of the authorization period.
Components of Accumulated Other Comprehensive Income (Loss)	The balance of and changes in each component of AOCI as of and for the years ended December 31, are as follows: Accumulated Other Comprehensive Income (Loss) Foreign Net Unrealized Pension and Total Accumulated Other Comprehensive Income (Loss) (in millions) Balance, December 31, 2017 $ (269) $ 19,968 $ (2,625) $ 17,074 Change in OCI before reclassifications (74) (7,614) (547) (8,235) Amounts reclassified from AOCI 1 (779) 227 (551) Income tax benefit (expense) 9 1,735 68 1,812 Cumulative effect of adoption of ASU 2016-01 0 (847) 0 (847) Cumulative effect of adoption of ASU 2018-02 (231) 2,282 (398) 1,653 Balance, December 31, 2018 (564) 14,745 (3,275) 10,906 Change in OCI before reclassifications 37 18,540 (563) 18,014 Amounts reclassified from AOCI 27 (1,345) 241 (1,077) Income tax benefit (expense) (36) (3,835) 60 (3,811) Cumulative effect of adoption of ASU 2017-12 0 7 0 7 Balance, December 31, 2019 (536) 28,112 (3,537) 24,039 Change in OCI before reclassifications 455 8,112 (70) 8,497 Amounts reclassified from AOCI 57 (883) 280 (546) Income tax benefit (expense) 76 (1,276) (52) (1,252) Balance, December 31, 2020 $ 52 $ 34,065 $ (3,379) $ 30,738 __________ (1) Includes cash flow hedges of $(168) million, $832 million and $811 million as of December 31, 2020, 2019, and 2018, respectively, and fair value hedges of $10 million, $0 million, and $0 million as of December 31, 2020, 2019, and 2018, respectively.
Reclassification Out Of Accumulated Other Comprehensive Income (Loss)	Reclassifications out of Accumulated Other Comprehensive Income (Loss) Years Ended December 31, Affected line item in Consolidated 2020 2019 2018 (in millions) Amounts reclassified from AOCI(1)(2): Foreign currency translation adjustment: Foreign currency translation adjustment $ 1 $ (27) $ (1) Realized investment gains (losses), net Foreign currency translation adjustment (58) 0 0 Other income (loss) Total foreign currency translation adjustment (57) (27) (1) Net unrealized investment gains (losses): Cash flow hedges—Interest Rate 40 58 1 (3) Cash flow hedges—Currency 5 6 7 (3) Cash flow hedges—Currency/Interest rate 110 315 543 (3) Fair value hedges—Currency (1) 0 0 (3) Net unrealized investment gains (losses) on available-for-sale securities 729 966 228 Realized investment gains (losses), net Total net unrealized investment gains (losses) 883 1,345 779 (4) Amortization of defined benefit items: Prior service cost (2) 0 3 (5) Actuarial gain (loss) (278) (241) (230) (5) Total amortization of defined benefit items (280) (241) (227) Total reclassifications for the period $ 546 $ 1,077 $ 551 __________ (1) All amounts are shown before tax. (2) Positive amounts indicate gains/benefits reclassified out of AOCI. Negative amounts indicate losses/costs reclassified out of AOCI. (3) See Note 5 for additional information on cash flow and fair value hedges. (4) See table below for additional information on unrealized investment gains (losses), including the impact on deferred policy acquisition and other costs, future policy benefits and policyholders’ dividends. (5) See Note 18 for information on employee benefit plans.
OTTI and Allowance Net Unrealized Investment Gain Loss AOCI Rollforward	The amounts for the periods indicated below, split between amounts related to available-for-sale fixed maturity securities on which an OTTI loss had been previously recognized, an allowance for credit losses has been recognized, and all other net unrealized investment gains (losses), are as follows: Net Unrealized Investment Gains (Losses) on Available-for-Sale Fixed Maturity Securities on which an OTTI loss had been previously recognized and an allowance for credit losses has been recognized Net Unrealized DAC, DSI, VOBA and Reinsurance Recoverables Future Policy Policyholders’ Deferred Accumulated Other Comprehensive Income (Loss) (in millions) Balance, December 31, 2017 $ 286 $ (2) $ 3 $ (46) $ (94) $ 147 Net investment gains (losses) on investments arising during the period (19) 8 (11) Reclassification adjustment for (gains) losses included in net income (76) 33 (43) Reclassification adjustment for OTTI losses excluded from net income(1) (2) 1 (1) Impact of net unrealized investment (gains) losses on DAC, DSI, VOBA and reinsurance recoverables 1 0 1 Impact of net unrealized investment (gains) losses on future policy benefits, policyholders’ account balances and reinsurance payables 1 0 1 Impact of net unrealized investment (gains) losses on policyholders’ dividends 23 (9) 14 Balance, December 31, 2018 189 (1) 4 (23) (61) 108 Net investment gains (losses) on investments arising during the period 129 (29) 100 Reclassification adjustment for (gains) losses included in net income (96) 21 (75) Reclassification adjustment for OTTI losses excluded from net income(1) 21 (5) 16 Impact of net unrealized investment (gains) losses on DAC, DSI, VOBA and reinsurance recoverables 0 0 0 Impact of net unrealized investment (gains) losses on future policy benefits, policyholders’ account balances and reinsurance payables 1 0 1 Impact of net unrealized investment (gains) losses on policyholders’ dividends 1 0 1 Balance, December 31, 2019 243 (1) 5 (22) (74) 151 Reclassification to all other due to implementation of ASU 2016-13(2) (243) 1 (5) 22 74 (151) Net investment gains (losses) on investments arising during the period 47 (9) 38 Reclassification adjustment for (gains) losses included in net income 25 (5) 20 Increase (Decrease) due to non-credit related losses recognized in AOCI during the period (97) 19 (78) Impact of net unrealized investment (gains) losses on DAC, DSI, VOBA and reinsurance recoverables 1 0 1 Impact of net unrealized investment (gains) losses on future policy benefits, policyholders’ account balances and reinsurance payables (1) 0 (1) Impact of net unrealized investment (gains) losses on policyholders’ dividends 11 (2) 9 Balance, December 31, 2020 $ (25) $ 1 $ (1) $ 11 $ 3 $ (11) __________ (1) Represents “transfers in” related to the portion of OTTI losses recognized during the period that were not recognized in earnings for securities with no prior OTTI loss. (2) Represents net unrealized gains (losses) for which an OTTI loss had been previously recognized.
All Other Net Unrealized Investment Gain (Loss) AOCI Rollforward	All Other Net Unrealized Investment Gains (Losses) in AOCI Net Unrealized DAC, DSI, VOBA and Reinsurance Recoverables Future Policy Policyholders’ Deferred Accumulated Other Comprehensive Income (Loss) (in millions) Balance, December 31, 2017 $ 36,112 $ (1,580) $ (1,243) $ (3,631) $ (9,837) $ 19,821 Net investment gains (losses) on investments arising during the period (10,838) 2,893 (7,945) Reclassification adjustment for (gains) losses included in net income (703) 303 (400) Reclassification adjustment for OTTI losses excluded from net income(2) 2 (1) 1 Impact of net unrealized investment (gains) losses on DAC, DSI, VOBA and reinsurance recoverables 842 (263) 579 Impact of net unrealized investment (gains) losses on future policy benefits, policyholders’ account balances and reinsurance payables 452 (186) 266 Impact of net unrealized investment (gains) losses on policyholders’ dividends 1,924 (874) 1,050 Cumulative effect of adoption of ASU 2016-01 (2,042) 813 212 (1,017) Cumulative effect of adoption of ASU 2018-02 2,282 2,282 Balance, December 31, 2018 22,531 (738) (791) (894) (5,471) 14,637 Net investment gains (losses) on investments arising during the period 23,826 (5,282) 18,544 Reclassification adjustment for (gains) losses included in net income (1,249) 277 (972) Reclassification adjustment for OTTI losses excluded from net income(2) (21) 5 (16) Impact of net unrealized investment (gains) losses on DAC, DSI, VOBA and reinsurance recoverables (846) 190 (656) Impact of net unrealized investment (gains) losses on future policy benefits, policyholders’ account balances and reinsurance payables (2,123) 475 (1,648) Impact of net unrealized investment (gains) losses on policyholders’ dividends (2,450) 515 (1,935) Cumulative effect of adoption of ASU 2017-12 9 (2) 7 Balance, December 31, 2019 45,096 (1,584) (2,914) (3,344) (9,293) 27,961 Reclassification due to implementation of ASU 2016-13(3) 243 (1) 5 (22) (74) 151 Net investment gains (losses) on investments arising during the period 13,914 (2,656) 11,258 Reclassification adjustment for (gains) losses included in net income (908) 173 (735) Reclassification due to allowance for credit losses recorded during the period 97 (19) 78 Impact of net unrealized investment (gains) losses on DAC, DSI, VOBA and reinsurance recoverables 355 (70) 285 Impact of net unrealized investment (gains) losses on future policy benefits, policyholders’ account balances and reinsurance payables (3,678) 760 (2,918) Impact of net unrealized investment (gains) losses on policyholders’ dividends (2,537) 533 (2,004) Balance, December 31, 2020 $ 58,442 $ (1,230) $ (6,587) $ (5,903) $ (10,646) $ 34,076 __________ (1) Includes cash flow and fair value hedges. See Note 5 for additional information. (2) Represents “transfers out” related to the portion of OTTI losses recognized during the period that were not recognized in earnings for securities with no prior OTTI loss. (3) Represents net unrealized gains (losses) for which an OTTI loss had been previously recognized.
Statutory Financial Information	The following table summarizes certain statutory financial information for the Company’s two largest U.S. insurance subsidiaries for the periods indicated: PICA PALAC In millions and presented as of or for the year ended December 31, 2020 December 31, 2019 December 31, 2018 December 31, 2020 December 31, 2019 December 31, 2018 Statutory net income (loss) $ 1,770 $ (169) $ 1,324 $ (637) $ (2,052) $ (852) Statutory capital and surplus $ 11,597 $ 11,483 $ 10,695 $ 6,262 $ 4,748 $ 6,396

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
Reconciliation of Earnings Per Share	A reconciliation of the numerators and denominators of the basic and diluted per share computations of Common Stock based on the consolidated earnings of Prudential Financial for the years ended December 31, is as follows: 2020 2019 2018 Income Weighted Per Share Income Weighted Per Share Income Weighted Per Share (in millions, except per share amounts) Basic earnings per share Net income (loss) $ (146) $ 4,238 $ 4,088 Less: Income (loss) attributable to noncontrolling interests 228 52 14 Less: Dividends and undistributed earnings allocated to participating unvested share-based payment awards 21 46 48 Net income (loss) attributable to Prudential Financial available to holders of Common Stock $ (395) 395.8 $ (1.00) $ 4,140 404.8 $ 10.23 $ 4,026 417.6 $ 9.64 Effect of dilutive securities and compensation programs Add: Dividends and undistributed earnings allocated to participating unvested share-based payment awards—Basic $ 21 $ 46 $ 48 Less: Dividends and undistributed earnings allocated to participating unvested share-based payment awards—Diluted 21 45 47 Stock options 0.0 1.1 1.5 Deferred and long-term compensation programs 0.0 1.4 1.2 Exchangeable Surplus Notes 0 0.0 12 3.6 21 5.9 Diluted earnings per share(1) Net income (loss) attributable to Prudential Financial available to holders of Common Stock $ (395) 395.8 $ (1.00) $ 4,153 410.9 $ 10.11 $ 4,048 426.2 $ 9.50
Earnings Per Share Computation	For the years ended December 31, the number of stock options and shares related to deferred and long-term compensation programs that were considered antidilutive and were excluded from the computation of diluted earnings per share, weighted for the portion of the period they were outstanding, are as follows: 2020 2019 2018 Shares Exercise Shares Exercise Shares Exercise (in millions, except per share amounts, based on Antidilutive stock options based on application of the treasury stock method 3.3 $ 82.06 1.2 $ 102.84 0.7 $ 108.34 Antidilutive stock options due to net loss available to holders of Common Stock 0.4 0.0 0.0 Antidilutive shares based on application of the treasury stock method 0.2 0.0 0.0 Antidilutive shares due to net loss available to holders of Common Stock 1.6 0.0 0.0 Total antidilutive stock options and shares 5.5 1.2 0.7

Share-Based Payments (Tables)

Share-Based Payments (Tables)	12 Months Ended
	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Schedule of Share Based Payment Award Stock Options Valuation Assumptions	The weighted average grant date assumptions used in the binomial option valuation model are as follows: 2020 2019 2018 Expected volatility 33.99 % 34.63 % 35.39 % Expected dividend yield 4.59 % 4.26 % 2.88 % Expected term 5.60 years 5.54 years 5.49 years Risk-free interest rate 1.42 % 2.50 % 2.64 %
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan	The following table summarizes the compensation cost recognized and the related income tax benefit for stock options, restricted stock units, performance shares and performance units for the years ended December 31: 2020 2019 2018 Omnibus Incentive Plan: Total Income Tax Total Income Tax Total Income Tax (in millions) Employee stock options $ 11 $ 3 $ 11 $ 3 $ 13 $ 3 Employee restricted stock units 162 38 149 35 139 32 Employee performance shares and performance units 53 12 71 17 3 1 Total $ 226 $ 53 $ 231 $ 55 $ 155 $ 36 __________ (1) Compensation costs related to retirement eligible participants are recorded on the grant date (typically in the first quarter of every year). 2020 2019 Assurance IQ Acquisition: Total Income Tax Total Income Tax (in millions) Employee stock options $ 14 $ 4 $ 4 $ 1 Employee restricted stock units 2 1 1 0 Employee performance shares 0 0 0 0 Total $ 16 $ 5 $ 5 $ 1
Schedule of Share Based Compensation Stock Options Activity	A summary of the status of the Company’s stock option grants is as follows: Employee Stock Options Omnibus Incentive Plan Assurance IQ Acquisition Shares Weighted Average Shares Weighted Average Outstanding at December 31, 2019 4,610,997 $ 76.26 547,192 $ 1.38 Granted 610,027 95.87 0 0.00 Exercised (647,313) 59.82 (142,638) 0.51 Forfeited 0 0.00 (10,288) 5.10 Expired (9,859) 78.45 0 0.00 Outstanding at December 31, 2020 4,563,852 $ 81.21 394,266 $ 1.60 Exercisable at December 31, 2020 3,427,197 $ 76.25 57,791 $ 4.02 The weighted average remaining contractual term and the aggregate intrinsic value of stock options outstanding and exercisable as of December 31, 2020 is as follows: Employee Stock Options Omnibus Incentive Plan Assurance IQ Acquisition Weighted Average Aggregate Weighted Average Aggregate (in years) (in millions) (in years) (in millions) Outstanding 4.47 $ 32 7.44 $ 30 Exercisable 3.46 $ 32 7.39 $ 4
Schedule of Nonvested Share Activity	A summary of the Company’s restricted stock units, performance shares and performance unit awards under the Omnibus Incentive Plan is as follows: Restricted Weighted Performance Weighted Restricted at December 31, 2019(2) 4,471,189 $ 102.25 1,822,886 $ 90.03 Granted(2) 1,922,202 93.88 671,994 95.42 Forfeited (197,399) 95.86 (16,118) 65.17 Performance adjustment(3) 49,485 95.43 Released (1,437,753) 109.73 (622,607) 90.23 Restricted at December 31, 2020(2) 4,758,239 $ 96.87 1,905,640 $ 92.07 __________ (1) Performance share and performance unit awards reflect the target units awarded, reduced for forfeitures and releases to date. The actual number of units to be awarded at the end of each performance period will range between 0% and 125% of the target number of units granted, based upon a measure of the reported performance for the Company relative to stated goals. Performance awards granted to senior management in 2018 include a stated goal related to diversity & inclusion that can modify the performance result by +/- 10%. (2) Effective October 1, 2019, the Company modified existing performance share and performance unit awards to remove features of the grants that prevent having a mutual understanding of the key terms and conditions of the award between the employee and employer until the grants vested. Consequently, the weighted average grant date fair value as of December 31, 2020 is the closing stock price of Prudential Financial’s common stock as of September 30, 2019. The weighted average grant date fair value as of December 31, 2018 is the closing stock price of Prudential Financial’s common stock as of December 31, 2019. (3) Represents the difference between the target units granted and the actual units awarded based upon the attainment of performance goals for the Company.
Share-Based Payments	A summary of the Company’s restricted stock units and performance share awards related to the Acquisition is as follows: Restricted Weighted Performance Weighted Restricted at December 31, 2019 125,788 $ 87.67 1,982,708 $ 89.81 Granted 0 0.00 112,949 63.30 Forfeited (20,222) 87.67 (29,662) 85.30 Performance adjustment(2) 0 0.00 0 0.00 Released (32,869) 87.67 0 0.00 Restricted at December 31, 2020 72,697 $ 87.67 2,065,995 $ 88.43 __________ (1) Performance share awards related to the Assurance IQ acquisition reflect the maximum number of units that have been awarded under the terms of the acquisition. The actual number of units that will be awarded at the end of the performance period will range between 0% and 100% of the number of units granted, based upon a predetermined formula of achieving Variable Profits between $900 million and $1,300 million. (2) Represents the difference between the target units granted and the actual units awarded based upon the attainment of performance goals for the Company.

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2020
Segment Reporting [Abstract]
Reconciliation of Operating Profit (Loss) from Segments to Consolidated	The following table sets forth the significant components of “Realized investment gains (losses), net” that are included in adjusted operating income and, as a result, are reflected as adjustments to “Realized investment gains (losses), net” for purposes of calculating adjusted operating income: Year Ended December 31, 2020 2019 2018 (in millions) Net gains (losses) from(1)(2): Terminated hedges of foreign currency earnings $ 68 $ 60 $ (14) Current period yield adjustments $ 364 $ 326 $ 369 Principal source of earnings $ 57 $ (37) $ 219 __________ (1) In addition to the items in the table above, “Realized investment gains (losses), net, and related charges and adjustments” also includes an adjustment to reflect “Realized investment gains (losses), net” related to Divested and Run-off Businesses. See “Divested and Run-off Businesses” discussed below. (2) Prior period amounts have been updated to conform to current period presentation. The following table sets forth certain other items excluded from adjusted operating income and reflected as an adjustment to “Realized investment gains (losses), net” for purposes of calculating adjusted operating income: Year Ended December 31, 2020 2019 2018 (in millions) Net gains (losses) from(1): Investments carried at fair value through net income $ 163 $ 490 $ (343) Foreign currency exchange movements $ 3 $ 42 $ (270) Gains (losses), net, on experience-rated contracts (excluding derivatives and commercial mortgage and other loans)(2) $ 50 $ 22 $ (153) Other activities $ (35) $ (32) $ (34) __________ (1) Prior period amounts have been updated to conform to current period presentation. (2) Adjusted operating income excludes net investment gains (losses) on assets supporting experience-rated contractholder liabilities, related derivatives, and commercial mortgage and other loans. The activity for derivatives and commercial mortgage and other loans that support these experience-rated products are reported in “Realized investment gains (losses), net” and excluded from adjusted operating income. The table below reconciles adjusted operating income before income taxes to income before income taxes and equity in earnings of operating joint ventures: Year ended December 31, 2020 2019 2018 (in millions) Adjusted operating income before income taxes by segment: PGIM $ 1,262 $ 998 $ 959 U.S. Businesses: U.S. Workplace Solutions division: Retirement 1,436 1,301 1,049 Group Insurance (16) 285 229 Total U.S. Workplace Solutions division 1,420 1,586 1,278 U.S. Individual Solutions division: Individual Annuities(1) 1,470 1,843 1,925 Individual Life (48) 87 223 Total U.S. Individual Solutions division 1,422 1,930 2,148 Assurance IQ division(2): Assurance IQ (88) (9) 0 Total Assurance IQ division (88) (9) 0 Total U.S. Businesses 2,754 3,507 3,426 International Businesses(3) 2,952 3,112 3,019 Corporate and Other (1,824) (1,766) (1,283) Total segment adjusted operating income before income taxes 5,144 5,851 6,121 Reconciling Items(3): Realized investment gains (losses), net, and related adjustments(4) (4,156) (835) 611 Charges related to realized investment gains (losses), net (159) (123) (315) Market experience updates(5) (640) (449) 0 Divested and Run-off Businesses: Closed Block division (24) 36 (62) Other Divested and Run-off Businesses (629) 755 (1,434) Other adjustments(6) 51 (47) 0 Equity in earnings of operating joint ventures and earnings attributable to noncontrolling interests 90 (103) (87) Consolidated income (loss) before income taxes and equity in earnings of operating joint ventures $ (323) $ 5,085 $ 4,834 __________ (1) Individual Annuities segment results reflect DAC as if the Individual Annuities business is a stand-alone operation. The elimination of intersegment costs capitalized in accordance with this policy is included in consolidating adjustments within Corporate and Other operations. (2) Assurance IQ was acquired by the Company in October 2019. See Note 1 for additional information. (3) Effective second quarter of 2020, the results of POK and the impact of its sale are excluded from the International Businesses and are included in the Divested and Run-off Businesses in Corporate and Other. Effective third quarter of 2020, the results of POT and the impact of its anticipated sale are excluded from the International Businesses and are included in the Divested and Run-off Businesses in Corporate and Other. Prior period amounts have been updated to conform to current period presentation. See Note 1 for additional information. (4) Prior period amounts have been updated to conform to current period presentation. (5) Represents the immediate impacts in current period results from changes in current market conditions on estimates of profitability, which are excluded from adjusted operating income beginning with the second quarter of 2019. (6) Represents adjustments not included in the above reconciling items. “Other adjustments” include certain components of the consideration for the Assurance IQ acquisition, which are recognized as compensation expense over the requisite service periods, as well as changes in the fair value of contingent consideration.
Schedule of Segment Reporting Information, by Segment	The tables below present certain financial information for the Company’s segments and its Corporate and Other operations, including assets by segment and revenues, and benefits and expenses by segment on an adjusted operating income basis, and the reconciliation of the segment totals to amounts reported in the Consolidated Financial Statements. As of December 31, 2020 2019 (in millions) Assets by segment: PGIM $ 48,680 $ 47,655 U.S. Businesses: U.S. Workplace Solutions division: Retirement 213,726 198,153 Group Insurance 45,601 43,712 Total U.S. Workplace Solutions division 259,327 241,865 U.S. Individual Solutions division: Individual Annuities 200,718 189,040 Individual Life 110,953 96,072 Total U.S. Individual Solutions division 311,671 285,112 Assurance IQ division(1): Assurance IQ 2,703 2,639 Total Assurance IQ division 2,703 2,639 Total U.S. Businesses 573,701 529,616 International Businesses(2) 231,128 213,335 Corporate and Other(2) 25,124 44,619 Closed Block division 62,089 61,327 Total assets per Consolidated Statements of Financial Position $ 940,722 $ 896,552 __________ (1) Assurance IQ was acquired by the Company in October 2019. See Note 1 for additional information. (2) Effective second quarter of 2020, the carrying amount of assets of POK are excluded from the International Businesses and are included in the Divested and Run-off Businesses in Corporate and Other. Effective third quarter of 2020, the carrying amount of assets of POT are excluded from the International Businesses and are included in the Divested and Run-off Businesses in Corporate and Other. Prior period amounts have been updated to conform to current period presentation. See Note 1 for additional information. . Year Ended December 31, 2020 Revenues, and benefits and expenses on an adjusted operating income basis by segment Total Revenues Net Total Benefits and Expenses Policyholders’ Interest Dividends to Interest Amortization (in millions) PGIM $ 4,153 $ 304 $ 2,891 $ 0 $ 0 $ 0 $ 33 $ 8 U.S. Businesses: U.S. Workplace Solutions division: Retirement 12,034 4,707 10,598 8,010 1,470 0 23 26 Group Insurance 5,786 526 5,802 4,664 206 0 3 8 Total U.S. Workplace Solutions division 17,820 5,233 16,400 12,674 1,676 0 26 34 U.S. Individual Solutions division: Individual Annuities 4,440 898 2,970 337 337 0 59 524 Individual Life 6,398 2,314 6,446 3,170 848 36 769 367 Total U.S. Individual Solutions division 10,838 3,212 9,416 3,507 1,185 36 828 891 Assurance IQ division(1): Assurance IQ 391 2 479 0 0 0 5 0 Total Assurance IQ division 391 2 479 0 0 0 5 0 Total U.S. Businesses 29,049 8,447 26,295 16,181 2,861 36 859 925 International Businesses(2) 21,576 4,982 18,624 13,714 851 40 8 1,204 Corporate and Other(2) (629) 541 1,195 30 0 0 670 (49) Total revenues, and benefits and expenses on an adjusted operating income basis 54,149 14,274 49,005 29,925 3,712 76 1,570 2,088 Reconciling items: Realized investment gains (losses), net, and related adjustments (3,463) (35) 693 0 693 0 0 0 Charges related to realized investment gains (losses), net (134) 0 25 0 (58) 0 0 (116) Market experience updates(3) (196) 0 444 261 21 0 0 132 Divested and Run-off Businesses: Closed Block division 4,766 2,240 4,790 2,757 127 1,549 1 26 Other Divested and Run-off Businesses(2) 1,944 931 2,573 2,116 43 0 3 91 Other adjustments(4) 105 0 54 0 0 0 0 0 Equity in earnings of operating joint ventures and earnings attributable to noncontrolling interests (138) 0 (228) 0 0 0 0 0 Total revenue, and benefits and expenses per Consolidated Statements of Operations $ 57,033 $ 17,410 $ 57,356 $ 35,059 $ 4,538 $ 1,625 $ 1,574 $ 2,221 Year Ended December 31, 2019 Revenues, and benefits and expenses on an adjusted operating income basis by segment Total Revenues Net Total Benefits and Expenses Policyholders’ Interest Dividends to Interest Amortization (in millions) PGIM $ 3,589 $ 200 $ 2,591 $ 0 $ 0 $ 0 $ 49 $ 6 U.S. Businesses: U.S. Workplace Solutions division: Retirement 15,064 4,738 13,763 11,061 1,503 0 46 38 Group Insurance 5,750 624 5,465 4,257 286 0 2 7 Total U.S. Workplace Solutions division 20,814 5,362 19,228 15,318 1,789 0 48 45 U.S. Individual Solutions division: Individual Annuities 4,995 856 3,152 435 334 0 122 513 Individual Life 6,115 2,247 6,028 2,778 830 38 774 577 Total U.S. Individual Solutions division 11,110 3,103 9,180 3,213 1,164 38 896 1,090 Assurance IQ division(1): Assurance IQ 101 0 110 0 0 0 0 0 Total Assurance IQ division 101 0 110 0 0 0 0 0 Total U.S. Businesses 32,025 8,465 28,518 18,531 2,953 38 944 1,135 International Businesses(2) 20,936 4,944 17,824 12,925 876 46 25 1,116 Corporate and Other(2) (677) 579 1,089 36 0 0 521 (46) Total revenues, and benefits and expenses on an adjusted operating income basis 55,873 14,188 50,022 31,492 3,829 84 1,539 2,211 Reconciling items(2): Realized investment gains (losses), net, and related adjustments 114 (36) 949 0 949 0 0 0 Charges related to realized investment gains (losses), net (252) 0 (129) (136) (94) 0 0 (181) Market experience updates(3) (79) 0 370 191 4 0 0 139 Divested and Run-off Businesses: Closed Block division 5,642 2,323 5,606 2,907 130 2,187 7 29 Other Divested and Run-off Businesses 3,660 1,110 2,905 2,366 62 3 4 134 Other adjustments(4) (5) 0 42 0 0 0 0 0 Equity in earnings of operating joint ventures and earnings attributable to noncontrolling interests (146) 0 (43) 0 0 0 0 0 Total revenue, and benefits and expenses per Consolidated Statements of Operations $ 64,807 $ 17,585 $ 59,722 $ 36,820 $ 4,880 $ 2,274 $ 1,550 $ 2,332 Year Ended December 31, 2018 Revenues, and benefits and expenses on an adjusted operating income basis by segment Total Revenues Net Total Benefits and Expenses Policyholders’ Interest Dividends to Interest Amortization (in millions) PGIM $ 3,294 $ 73 $ 2,335 $ 0 $ 0 $ 0 $ 40 $ 8 U.S. Businesses: U.S. Workplace Solutions division: Retirement 16,825 4,377 15,776 13,215 1,430 0 35 33 Group Insurance 5,685 616 5,456 4,241 282 0 2 5 Total U.S. Workplace Solutions division 22,510 4,993 21,232 17,456 1,712 0 37 38 U.S. Individual Solutions division: Individual Annuities 4,966 694 3,041 370 335 0 67 511 Individual Life 5,831 2,033 5,608 2,489 766 37 714 368 Total U.S. Individual Solutions division 10,797 2,727 8,649 2,859 1,101 37 781 879 Total U.S. Businesses 33,307 7,720 29,881 20,315 2,813 37 818 917 International Businesses(2) 20,058 4,642 17,039 12,453 867 59 21 1,121 Corporate and Other(2) (705) 452 578 (12) 0 0 535 (44) Total revenues, and benefits and expenses on an adjusted operating income basis 55,954 12,887 49,833 32,756 3,680 96 1,414 2,002 Reconciling items(2): Realized investment gains (losses), net, and related adjustments(5) (99) (41) (710) 0 (710) 0 0 0 Charges related to realized investment gains (losses), net (273) 0 42 (75) 40 0 0 118 Divested and Run-off Businesses: Closed Block division 4,678 2,288 4,740 2,972 132 1,236 2 35 Other Divested and Run-off Businesses 2,835 1,042 4,269 3,751 54 4 4 118 Equity in earnings of operating joint ventures and earnings attributable to noncontrolling interests (103) 0 (16) 0 0 0 0 0 Total revenue, and benefits and expenses per Consolidated Statements of Operations $ 62,992 $ 16,176 $ 58,158 $ 39,404 $ 3,196 $ 1,336 $ 1,420 $ 2,273 __________ (1) Assurance IQ was acquired by the Company in October 2019. See Note 1 for additional information. (2) Effective second quarter of 2020, the results of POK and the impact of its sale are excluded from the International Businesses and are included in the Divested and Run-off Businesses in Corporate and Other. Effective third quarter of 2020, the results of POT and the impact of its anticipated sale are excluded from the International Businesses and are included in the Divested and Run-off Businesses in Corporate and Other. Prior period amounts have been updated to conform to current period presentation. See Note 1 for additional information. (3) Represents the immediate impacts in current period results from changes in current market conditions on estimates of profitability, which are excluded from adjusted operating income beginning with the second quarter of 2019. The Company had historically recognized these impacts in adjusted operating income. (4) Represents adjustments not included in the above reconciling items. “Other adjustments” include certain components of the consideration for the Assurance IQ acquisition, which are recognized as compensation expense over the requisite service periods, as well as changes in the fair value of contingent consideration. (5) Prior period amounts have been updated to conform to current period presentation.
Schedule Of Revenues From Domestic And Foreign Operations	Revenues, calculated in accordance with U.S. GAAP, for the years ended December 31, include the following associated with the Company’s foreign and domestic operations: 2020 2019 2018 (in millions) Domestic operations $ 34,921 $ 40,868 $ 40,603 Foreign operations, total $ 22,112 $ 23,939 $ 22,389 Foreign operations, Japan $ 19,864 $ 19,626 $ 19,125 Foreign operations, Korea(1) $ 364 $ 1,638 $ 1,495 __________ (1) Revenues related to POK until sold in August 2020.
Schedule Of Intersegment Revenues	The PGIM segment revenues include intersegment revenues, primarily consisting of asset-based management and administration fees, for the years ended December 31, as follows: 2020 2019 2018 (in millions) PGIM segment intersegment revenues $ 866 $ 777 $ 731
Schedule of Asset Mgmt and Service Fees	The table below presents asset management and service fees, predominantly related to an investment management activities, for the periods indicated: 2020 2019 2018 (in millions) Asset-based management fees $ 3,615 $ 3,489 $ 3,438 Performance-based incentive fees 193 169 56 Other fees 583 581 606 Total asset management and service fees $ 4,391 $ 4,239 $ 4,100

Commitments and Contingent Li_2

Commitments and Contingent Liabilities (Tables)	12 Months Ended
	Dec. 31, 2020
Commitments and Contingent Liabilities [Line Items]
Mortgage Loans	The following table sets forth the composition of “Commercial mortgage and other loans,” as of the dates indicated: December 31, 2020 December 31, 2019 Amount % of Amount % of Commercial mortgage and agricultural property loans by property type: Office $ 12,750 19.7 % $ 13,462 21.4 % Retail 7,326 11.3 8,379 13.3 Apartments/Multi-Family 18,330 28.3 17,348 27.6 Industrial 14,954 23.1 13,226 21.1 Hospitality 2,395 3.7 2,415 3.9 Other 4,981 7.7 4,533 7.2 Total commercial mortgage loans 60,736 93.8 59,363 94.5 Agricultural property loans 4,048 6.2 3,472 5.5 Total commercial mortgage and agricultural property loans 64,784 100.0 % 62,835 100.0 % Allowance for credit losses (227) (117) Total net commercial mortgage and agricultural property loans 64,557 62,718 Other loans: Uncollateralized loans 655 656 Residential property loans 101 124 Other collateralized loans 120 65 Total other loans 876 845 Allowance for credit losses (8) (4) Total net other loans 868 841 Total net commercial mortgage and other loans(1) $ 65,425 $ 63,559 __________ (1) Includes loans held for sale which are carried at fair value and are collateralized primarily by apartment complexes. As of December 31, 2020 and 2019, the net carrying value of these loans was $1,092 million and $228 million, respectively.
Insolvency Assessment	Assets and liabilities held for insolvency assessments were as follows: December 31, 2020 2019 (in millions) Other assets: Premium tax offset for future undiscounted assessments $ 44 $ 48 Premium tax offset currently available for paid assessments 3 3 Total $ 47 $ 51 Other liabilities: Insolvency assessments $ 36 $ 37
Commitments | Commercial Mortgage Loans
Commitments and Contingent Liabilities [Line Items]
Mortgage Loans	Commercial Mortgage Loan Commitments December 31, 2020 2019 (in millions) Total outstanding mortgage loan commitments $ 2,357 $ 2,129 Portion of commitment where prearrangement to sell to investor exists $ 882 $ 751
Commitments | Investments
Commitments and Contingent Liabilities [Line Items]
Commitments to Purchase Investments (excluding Commercial Mortgage Loans)	Commitments to Purchase Investments (excluding Commercial Mortgage Loans) December 31, 2020 2019 (in millions) Expected to be funded from the general account and other operations outside the separate accounts $ 9,567 $ 7,372 Expected to be funded from separate accounts $ 336 $ 49
Indemnification
Commitments and Contingent Liabilities [Line Items]
Indemnification of Securities Lending and Securities Repurchase Transactions	Indemnification of Securities Lending and Securities Repurchase Transactions December 31, 2020 2019 (in millions) Indemnification provided to certain clients for securities lending and securities repurchase transactions(1) $ 7,108 $ 5,071 Fair value of related collateral associated with above indemnifications(2) $ 7,254 $ 5,204 Accrued liability associated with guarantee $ 0 $ 0
Indemnification | Serviced Mortgage Loans
Commitments and Contingent Liabilities [Line Items]
Mortgage Loans	Indemnification of Serviced Mortgage Loans December 31, 2020 2019 (in millions) Maximum exposure under indemnification agreements for mortgage loans serviced by the Company $ 2,684 $ 2,113 First-loss exposure portion of above $ 784 $ 622 Accrued liability associated with guarantees(1) $ 41 $ 19 __________ (1) As of December 31, 2020, the accrued liability associated with guarantees includes an allowance for credit losses of $20 million, which is a change of $1 million for the year ended December 31, 2020.
Guarantee of Asset Values
Commitments and Contingent Liabilities [Line Items]
Guarantees	Guarantees of Asset Values December 31, 2020 2019 (in millions) Guaranteed value of third parties’ assets $ 86,264 $ 80,009 Fair value of collateral supporting these assets $ 90,612 $ 81,604 Asset (liability) associated with guarantee, carried at fair value $ 0 $ 1
Other Guarantees
Commitments and Contingent Liabilities [Line Items]
Guarantees	Other Guarantees December 31, 2020 2019 (in millions) Other guarantees where amount can be determined $ 52 $ 55 Accrued liability for other guarantees and indemnifications $ 0 $ 0

Quarterly Results of Operatio_2

Quarterly Results of Operations (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2020
Quarterly Financial Data [Abstract]
Schedule of Quarterly Financial Information	The unaudited quarterly results of operations for the years ended December 31, 2020 and 2019 are summarized in the table below: Three Months Ended March 31 June 30 September 30 December 31 (in millions, except per share amounts) 2020 Total revenues $ 13,464 $ 12,115 $ 15,425 $ 16,029 Total benefits and expenses 13,802 14,447 13,978 15,129 Net income (loss) (270) (2,405) 1,507 1,022 Less: Income attributable to noncontrolling interests 1 4 20 203 Net income (loss) attributable to Prudential Financial, Inc. $ (271) $ (2,409) $ 1,487 $ 819 Basic earnings per share—Common Stock(1): Net income (loss) attributable to Prudential Financial, Inc. $ (0.70) $ (6.12) $ 3.72 $ 2.04 Diluted earnings per share—Common Stock(1): Net income (loss) attributable to Prudential Financial, Inc. $ (0.70) $ (6.12) $ 3.70 $ 2.03 2019 Total revenues $ 15,091 $ 15,388 $ 15,105 $ 19,223 Total benefits and expenses 13,951 14,512 13,380 17,879 Net income (loss) 937 738 1,425 1,138 Less: Income attributable to noncontrolling interests 5 30 7 10 Net income (loss) attributable to Prudential Financial, Inc. $ 932 $ 708 $ 1,418 $ 1,128 Basic earnings per share—Common Stock(1): Net income (loss) attributable to Prudential Financial, Inc. $ 2.25 $ 1.73 $ 3.47 $ 2.78 Diluted earnings per share—Common Stock(1): Net income (loss) attributable to Prudential Financial, Inc. $ 2.22 $ 1.71 $ 3.44 $ 2.76

Business and Basis of Present_2

Business and Basis of Presentation (Acquisitions Narratives) (Details) - USD ($)	1 Months Ended	3 Months Ended								12 Months Ended			36 Months Ended
	Oct. 31, 2019	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2022	Apr. 30, 2020	Oct. 10, 2019	Sep. 04, 2019	Dec. 31, 2017
Business Acquisition [Line Items]
Total equity in net earnings (loss)		$ 1,022,000,000	$ 1,507,000,000	$ (2,405,000,000)	$ (270,000,000)	$ 1,138,000,000	$ 1,425,000,000	$ 738,000,000	$ 937,000,000	$ (146,000,000)	$ 4,238,000,000	$ 4,088,000,000
Share price (usd per share)															$ 87.67	$ 83.71
Acquisitions											2,150,000,000	22,000,000
Goodwill		3,035,000,000				3,013,000,000				3,035,000,000	3,013,000,000	863,000,000					$ 843,000,000
Assurance IQ
Business Acquisition [Line Items]
Intangible assets acquired											191,000,000
Acquisitions											2,128,000,000	0
Goodwill		2,140,000,000				2,128,000,000				2,140,000,000	2,128,000,000	$ 0		$ 2,140,000,000			$ 0
Acquisition of Assurance IQ, Inc.
Business Acquisition [Line Items]
Consideration transferred	$ 2,212,000,000
Contingent consideration, liability	100,000,000	$ 0				105,000,000				$ 0	105,000,000
Transaction costs	1,758,000,000
Equity interest issued	454,000,000
Equity interest issued, value	160,000,000
Acquisition of Assurance IQ, Inc. | Condition One | Minimum
Business Acquisition [Line Items]
Consideration payable, cash and equity interests	0
Acquisition of Assurance IQ, Inc. | Condition One | Subsequent Event
Business Acquisition [Line Items]
Total equity in net earnings (loss)													$ 900,000,000
Acquisition of Assurance IQ, Inc. | Condition Two | Maximum
Business Acquisition [Line Items]
Consideration payable, cash and equity interests	1,150,000,000
Acquisition of Assurance IQ, Inc. | Condition Two | Subsequent Event | Minimum
Business Acquisition [Line Items]
Total equity in net earnings (loss)													1,300,000,000
Acquisition of Assurance IQ, Inc. | Condition Three
Business Acquisition [Line Items]
Contingent liability, stock based compensation component						$ 900,000,000					$ 900,000,000
Acquisition of Assurance IQ, Inc. | Condition Three | Subsequent Event | Minimum
Business Acquisition [Line Items]
Total equity in net earnings (loss)													900,000,000
Acquisition of Assurance IQ, Inc. | Condition Three | Subsequent Event | Maximum
Business Acquisition [Line Items]
Total equity in net earnings (loss)													1,300,000,000
Acquisition of Assurance IQ, Inc. | Condition Four - Quotient - Numerator | Subsequent Event
Business Acquisition [Line Items]
Total equity in net earnings (loss)													$ 900,000,000
Acquisition of Assurance IQ, Inc. | Condition Four - Quotient - Denominator
Business Acquisition [Line Items]
Consideration payable, cash and equity interests	400,000,000
Acquisition of Assurance IQ, Inc. | Condition Four - Multiplier
Business Acquisition [Line Items]
Consideration payable, cash and equity interests	$ 1,150,000,000
Acquisition of Assurance IQ, Inc. | Cash
Business Acquisition [Line Items]
Equity interest in acquiree	25.00%
Acquisition of Assurance IQ, Inc. | Other common stocks
Business Acquisition [Line Items]
Equity interest in acquiree	75.00%

Business and Basis of Present_3

Business and Basis of Presentation (Dispositions Narratives) (Details) $ in Millions, ₩ in Trillions	3 Months Ended	12 Months Ended
	Dec. 31, 2020USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Aug. 31, 2020USD ($)	Aug. 31, 2020KRW (₩)	Aug. 11, 2020USD ($)	Aug. 11, 2020TWD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Other income (loss)		$ 1,950,000,000	$ 3,262,000,000	$ (1,042,000,000)
Discontinued Operations, Held-for-sale | The Prudential Life Insurance Company of Korea, Ltd.
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash considerations for sale of a business					$ 1,900,000,000	₩ 2.3
Other income (loss)		$ (800,000,000)
Discontinued Operations, Held-for-sale | The Prudential Life Insurance Company of Taiwan Inc.
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash considerations for sale of a business							$ 195,000,000	$ 5,500
Other income (loss)	$ (350,000,000)
Business Combination, Contingent Consideration, Asset							15,000,000
Discontinued Operations, Held-for-sale | The Prudential Life Insurance Company of Taiwan Inc. | Maximum
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Business Combination, Contingent Consideration, Asset							$ 100,000,000

Significant Accounting Polici_4

Significant Accounting Policies and Pronouncements (Summary of Transition Impact) (Details) - USD ($) $ in Millions		Dec. 31, 2020		Jan. 01, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Fixed maturities, held-to-maturity	[2]	$ 1,930	[1]		$ 1,933
Commercial mortgage and other loans	[2]	65,425	[1]		63,559
Other invested assets	[2]	18,125	[1]		15,606
Deferred policy acquisition cost		19,027	[1]		19,912	$ 20,058	$ 18,992
Other assets	[2]	22,801	[1]		20,832
Total assets		940,722			896,552
Policyholder's dividends		9,524			6,988
Other liabilities		20,323			20,802
Income taxes		12,022			11,378
Total liabilities		872,512			832,833
Retained earnings		30,749			32,991
Total equity		68,210			63,719	$ 49,031	$ 54,511
TOTAL LIABILITIES AND EQUITY		940,722			$ 896,552
ASU 2016-13
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Other liabilities		$ 20
Restatement Adjustment | ASU 2016-13
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Fixed maturities, held-to-maturity				$ (9)
Commercial mortgage and other loans				(115)
Other invested assets				(1)
Deferred policy acquisition cost				9
Other assets				(6)
Total assets				(122)
Policyholder's dividends				(14)
Other liabilities				21
Income taxes				(30)
Total liabilities				(23)
Retained earnings				(99)
Total equity				(99)
TOTAL LIABILITIES AND EQUITY				$ (122)
[1]	December 31, 2020 amounts include the impacts of the January 1, 2020 adoption of ASU 2016-13. See Note 2 for details.
[2]	See Note 4 for details of balances associated with variable interest entities.

Significant Accounting Polici_5

Significant Accounting Policies and Pronouncements (Narratives) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Jan. 01, 2018	Dec. 31, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings	$ 30,749	$ 32,991
Accumulated other comprehensive income (loss)	30,738	24,039
Total equity	$ 68,210	63,719	$ 49,031		$ 54,511
Loan-to-value ratios (greater than)	100.00%
Loan-to-value ratio (less than)	100.00%
Debt service coverage ratios (less than)	1
Repurchase and Resale Agreements, Collateral, Percentage	95.00%
Uncertain Tax Positions Measurement Percentage (greater than)	50.00%
Operating Lease, Right-of-Use Asset	$ 466	554
Operating Lease, Liability	511	594
Accumulated Other Comprehensive Income (Loss)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accumulated other comprehensive income (loss)	30,738	24,039	10,906		17,074
Total equity	30,738	24,039	10,906		17,074
Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total equity	$ 30,749	$ 32,991	$ 30,470		28,671
ASU 2018-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total equity					0
ASU 2018-02 | Accumulated Other Comprehensive Income (Loss)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total equity				$ 1,653	1,653
ASU 2018-02 | Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total equity				(1,653)	$ (1,653)
Domestic operations | Securities Lending and Securities Repurchase Transactions
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Guarantor Obligations, Liquidation Proceeds, Percentage	102.00%
Foreign operations | Securities Lending and Securities Repurchase Transactions
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Guarantor Obligations, Liquidation Proceeds, Percentage	105.00%
Minimum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Estimated useful life	3 years
Maximum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Estimated useful life	40 years
ASU 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating Lease, Right-of-Use Asset	$ 600
Operating Lease, Liability	$ 600
Restatement Adjustment | ASU 2016-01
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings				904
Accumulated other comprehensive income (loss)				847
Total equity				$ 57

Investments (Fixed Maturities S

Investments (Fixed Maturities Securities Excluding Investments Classified as Trading) (Details) - USD ($) $ in Millions		Dec. 31, 2020		Dec. 31, 2019
Summary Of Investments Other Than Investments In Related Parties Reportable Data [Line Items]
Amortized Cost, AFS, FM		$ 354,470		$ 346,574
Fixed Maturities, AFS, allowance for credit losses		133
Fixed Maturities, Available for Sale, Fair Value	[1]	412,905		391,096
Amortized Cost, HTM, FM	[1]	1,930	[2]	1,933
Fair Value, HTM, FM		2,298		2,302
Fixed Maturities, HTM, allowance for credit losses		9
Fixed maturities
Summary Of Investments Other Than Investments In Related Parties Reportable Data [Line Items]
Amortized Cost, AFS, FM		354,470		346,574
Gross Unrealized Gains, AFS, FM		59,548		45,837
Gross Unrealized Losses, AFS, FM		980		1,315
Fixed Maturities, AFS, allowance for credit losses		133
Fixed Maturities, Available for Sale, Fair Value		412,905		391,096
Amortized Cost, HTM, FM		1,939		1,933
Gross Unrealized Gains, HTM, FM		359		369
Gross Unrealized Losses, HTM, FM		0		0
Fair Value, HTM, FM		2,298		2,302
Fixed Maturities, HTM, allowance for credit losses		9
Amortized Cost, Net of Allowance, HTM, FM		1,930
Fixed maturities | U.S. Treasury securities and obligations of U.S. government authorities and agencies
Summary Of Investments Other Than Investments In Related Parties Reportable Data [Line Items]
Amortized Cost, AFS, FM		30,766		30,625
Gross Unrealized Gains, AFS, FM		9,699		5,195
Gross Unrealized Losses, AFS, FM		17		161
Fixed Maturities, AFS, allowance for credit losses		0
Fixed Maturities, Available for Sale, Fair Value		40,448		35,659
Fixed maturities | Obligations of U.S. states and their political subdivisions
Summary Of Investments Other Than Investments In Related Parties Reportable Data [Line Items]
Amortized Cost, AFS, FM		10,668		10,068
Gross Unrealized Gains, AFS, FM		2,144		1,437
Gross Unrealized Losses, AFS, FM		1		8
Fixed Maturities, AFS, allowance for credit losses		0
Fixed Maturities, Available for Sale, Fair Value		12,811		11,497
Fixed maturities | Foreign government bonds
Summary Of Investments Other Than Investments In Related Parties Reportable Data [Line Items]
Amortized Cost, AFS, FM		94,110		98,356
Gross Unrealized Gains, AFS, FM		16,373		20,761
Gross Unrealized Losses, AFS, FM		239		63
Fixed Maturities, AFS, allowance for credit losses		0
Fixed Maturities, Available for Sale, Fair Value		110,244		119,054
Amortized Cost, HTM, FM		935		891
Gross Unrealized Gains, HTM, FM		270		282
Gross Unrealized Losses, HTM, FM		0		0
Fair Value, HTM, FM		1,205		1,173
Fixed Maturities, HTM, allowance for credit losses		0
Amortized Cost, Net of Allowance, HTM, FM		935
Fixed maturities | U.S. public corporate securities
Summary Of Investments Other Than Investments In Related Parties Reportable Data [Line Items]
Amortized Cost, AFS, FM		95,299		87,566
Gross Unrealized Gains, AFS, FM		18,516		11,030
Gross Unrealized Losses, AFS, FM		213		257
Fixed Maturities, AFS, allowance for credit losses		47
Fixed Maturities, Available for Sale, Fair Value		113,555		98,339
Fixed maturities | U.S. private corporate securities
Summary Of Investments Other Than Investments In Related Parties Reportable Data [Line Items]
Amortized Cost, AFS, FM		36,894		34,410
Gross Unrealized Gains, AFS, FM		4,196		2,243
Gross Unrealized Losses, AFS, FM		134		120
Fixed Maturities, AFS, allowance for credit losses		19
Fixed Maturities, Available for Sale, Fair Value		40,937		36,533
Fixed maturities | Foreign public corporate securities
Summary Of Investments Other Than Investments In Related Parties Reportable Data [Line Items]
Amortized Cost, AFS, FM		25,857		26,841
Gross Unrealized Gains, AFS, FM		3,768		3,054
Gross Unrealized Losses, AFS, FM		64		70
Fixed Maturities, AFS, allowance for credit losses		24
Fixed Maturities, Available for Sale, Fair Value		29,537		29,825
Amortized Cost, HTM, FM		651		649
Gross Unrealized Gains, HTM, FM		68		64
Gross Unrealized Losses, HTM, FM		0		0
Fair Value, HTM, FM		719		713
Fixed Maturities, HTM, allowance for credit losses		9
Amortized Cost, Net of Allowance, HTM, FM		642
Fixed maturities | Foreign private corporate securities
Summary Of Investments Other Than Investments In Related Parties Reportable Data [Line Items]
Amortized Cost, AFS, FM		28,668		27,619
Gross Unrealized Gains, AFS, FM		3,183		1,201
Gross Unrealized Losses, AFS, FM		226		580
Fixed Maturities, AFS, allowance for credit losses		33
Fixed Maturities, Available for Sale, Fair Value		31,592		28,240
Amortized Cost, HTM, FM		87		83
Gross Unrealized Gains, HTM, FM		1		2
Gross Unrealized Losses, HTM, FM		0		0
Fair Value, HTM, FM		88		85
Fixed Maturities, HTM, allowance for credit losses		0
Amortized Cost, Net of Allowance, HTM, FM		87
Fixed maturities | Asset-backed securities
Summary Of Investments Other Than Investments In Related Parties Reportable Data [Line Items]
Amortized Cost, AFS, FM		14,489		13,067
Gross Unrealized Gains, AFS, FM		176		147
Gross Unrealized Losses, AFS, FM		74		40
Fixed Maturities, AFS, allowance for credit losses		0
Fixed Maturities, Available for Sale, Fair Value		14,591		13,174
Fixed maturities | Commercial mortgage-backed securities
Summary Of Investments Other Than Investments In Related Parties Reportable Data [Line Items]
Amortized Cost, AFS, FM		15,036		14,978
Gross Unrealized Gains, AFS, FM		1,288		610
Gross Unrealized Losses, AFS, FM		11		14
Fixed Maturities, AFS, allowance for credit losses		10
Fixed Maturities, Available for Sale, Fair Value		16,303		15,574
Fixed maturities | Residential mortgage-backed securities
Summary Of Investments Other Than Investments In Related Parties Reportable Data [Line Items]
Amortized Cost, AFS, FM		2,683		3,044
Gross Unrealized Gains, AFS, FM		205		159
Gross Unrealized Losses, AFS, FM		1		2
Fixed Maturities, AFS, allowance for credit losses		0
Fixed Maturities, Available for Sale, Fair Value		2,887		3,201
Amortized Cost, HTM, FM		266		310
Gross Unrealized Gains, HTM, FM		20		21
Gross Unrealized Losses, HTM, FM		0		0
Fair Value, HTM, FM		286		331
Fixed Maturities, HTM, allowance for credit losses		0
Amortized Cost, Net of Allowance, HTM, FM		266
Available-for-sale | Fixed maturities
Summary Of Investments Other Than Investments In Related Parties Reportable Data [Line Items]
Amortized Cost, AFS, FM		354,470
Fixed Maturities, Available for Sale, Fair Value		412,905
Available-for-sale | Fixed maturities | U.S. Treasury securities and obligations of U.S. government authorities and agencies
Summary Of Investments Other Than Investments In Related Parties Reportable Data [Line Items]
Amortized Cost, AFS, FM		30,766
Fixed Maturities, Available for Sale, Fair Value		40,448
Available-for-sale | Fixed maturities | Obligations of U.S. states and their political subdivisions
Summary Of Investments Other Than Investments In Related Parties Reportable Data [Line Items]
Amortized Cost, AFS, FM		10,668
Fixed Maturities, Available for Sale, Fair Value		12,811
Available-for-sale | Fixed maturities | Asset-backed securities
Summary Of Investments Other Than Investments In Related Parties Reportable Data [Line Items]
Amortized Cost, AFS, FM		14,489
Fixed Maturities, Available for Sale, Fair Value		14,591
Available-for-sale | Fixed maturities | Commercial mortgage-backed securities
Summary Of Investments Other Than Investments In Related Parties Reportable Data [Line Items]
Amortized Cost, AFS, FM		15,036
Fixed Maturities, Available for Sale, Fair Value		16,303
Available-for-sale | Fixed maturities | Residential mortgage-backed securities
Summary Of Investments Other Than Investments In Related Parties Reportable Data [Line Items]
Amortized Cost, AFS, FM		2,683
Fixed Maturities, Available for Sale, Fair Value		2,887
Available-for-sale | OTTI | Fixed maturities
Summary Of Investments Other Than Investments In Related Parties Reportable Data [Line Items]
OTTI in AOCI				(119)
Available-for-sale | OTTI | Fixed maturities | U.S. Treasury securities and obligations of U.S. government authorities and agencies
Summary Of Investments Other Than Investments In Related Parties Reportable Data [Line Items]
OTTI in AOCI				0
Available-for-sale | OTTI | Fixed maturities | Obligations of U.S. states and their political subdivisions
Summary Of Investments Other Than Investments In Related Parties Reportable Data [Line Items]
OTTI in AOCI				0
Available-for-sale | OTTI | Fixed maturities | Foreign government bonds
Summary Of Investments Other Than Investments In Related Parties Reportable Data [Line Items]
OTTI in AOCI				(34)
Available-for-sale | OTTI | Fixed maturities | U.S. public corporate securities
Summary Of Investments Other Than Investments In Related Parties Reportable Data [Line Items]
OTTI in AOCI				(6)
Available-for-sale | OTTI | Fixed maturities | U.S. private corporate securities
Summary Of Investments Other Than Investments In Related Parties Reportable Data [Line Items]
OTTI in AOCI				0
Available-for-sale | OTTI | Fixed maturities | Foreign public corporate securities
Summary Of Investments Other Than Investments In Related Parties Reportable Data [Line Items]
OTTI in AOCI				(1)
Available-for-sale | OTTI | Fixed maturities | Foreign private corporate securities
Summary Of Investments Other Than Investments In Related Parties Reportable Data [Line Items]
OTTI in AOCI				0
Available-for-sale | OTTI | Fixed maturities | Asset-backed securities
Summary Of Investments Other Than Investments In Related Parties Reportable Data [Line Items]
OTTI in AOCI				(77)
Available-for-sale | OTTI | Fixed maturities | Commercial mortgage-backed securities
Summary Of Investments Other Than Investments In Related Parties Reportable Data [Line Items]
OTTI in AOCI				0
Available-for-sale | OTTI | Fixed maturities | Residential mortgage-backed securities
Summary Of Investments Other Than Investments In Related Parties Reportable Data [Line Items]
OTTI in AOCI				(1)
Available-for-sale | Net Unrealized Investment Gains (Losses) | Fixed maturities
Summary Of Investments Other Than Investments In Related Parties Reportable Data [Line Items]
OTTI in AOCI				362
Held-to-maturity | Fixed maturities
Summary Of Investments Other Than Investments In Related Parties Reportable Data [Line Items]
Amortized Cost, HTM, FM		1,939
Fair Value, HTM, FM		2,298
Amortized Cost, Net of Allowance, HTM, FM		1,930
Held-to-maturity | Fixed maturities | Foreign government bonds
Summary Of Investments Other Than Investments In Related Parties Reportable Data [Line Items]
Amortized Cost, HTM, FM		935
Fair Value, HTM, FM		1,205
Amortized Cost, Net of Allowance, HTM, FM		935
Held-to-maturity | Fixed maturities | Residential mortgage-backed securities
Summary Of Investments Other Than Investments In Related Parties Reportable Data [Line Items]
Amortized Cost, HTM, FM		266
Fair Value, HTM, FM		286
Amortized Cost, Net of Allowance, HTM, FM		266
Held-to-maturity | Net Unrealized Investment Gains (Losses) | Fixed maturities
Summary Of Investments Other Than Investments In Related Parties Reportable Data [Line Items]
OTTI in AOCI				1
Prudential Netting Agreement | U.S. private corporate securities
Summary Of Investments Other Than Investments In Related Parties Reportable Data [Line Items]
Fixed Maturities, Available for Sale, Fair Value		5,966		4,751
Prudential Netting Agreement | Fixed maturities
Summary Of Investments Other Than Investments In Related Parties Reportable Data [Line Items]
Amortized Cost, HTM, FM		4,998		4,998
Fair Value, HTM, FM		5,821		5,401
Prudential Netting Agreement | Fixed maturities | U.S. private corporate securities
Summary Of Investments Other Than Investments In Related Parties Reportable Data [Line Items]
Amortized Cost, AFS, FM		5,966		4,751
Fixed Maturities, Available for Sale, Fair Value		$ 6,100		$ 4,757
[1]	See Note 4 for details of balances associated with variable interest entities.
[2]	December 31, 2020 amounts include the impacts of the January 1, 2020 adoption of ASU 2016-13. See Note 2 for details.

Investments (Fair Value and Los

Investments (Fair Value and Losses by Investment Category and Length of Time in a Loss Position) (Details) - Fixed maturities - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Investment [Line Items]
Less Than Twelve Months, Fair Value	$ 19,718	$ 21,898
Less Than Twelve Months, Gross Unrealized Loss	486	437
Twelve Months or More, Fair Value	9,605	15,006
Twelve Months or More, Gross Unrealized Losses	463	878
Total, Fair Value	29,323	36,904
Total, Gross Unrealized Losses	949	1,315
Securities classified as held-to-maturity in a gross unrealized loss position		0
U.S. Treasury securities and obligations of U.S. government authorities and agencies
Investment [Line Items]
Less Than Twelve Months, Fair Value	750	4,950
Less Than Twelve Months, Gross Unrealized Loss	17	161
Twelve Months or More, Fair Value	0	267
Twelve Months or More, Gross Unrealized Losses	0	0
Total, Fair Value	750	5,217
Total, Gross Unrealized Losses	17	161
Obligations of U.S. states and their political subdivisions
Investment [Line Items]
Less Than Twelve Months, Fair Value	73	273
Less Than Twelve Months, Gross Unrealized Loss	1	8
Twelve Months or More, Fair Value	0	0
Twelve Months or More, Gross Unrealized Losses	0	0
Total, Fair Value	73	273
Total, Gross Unrealized Losses	1	8
Foreign government bonds
Investment [Line Items]
Less Than Twelve Months, Fair Value	6,536	2,332
Less Than Twelve Months, Gross Unrealized Loss	231	60
Twelve Months or More, Fair Value	39	126
Twelve Months or More, Gross Unrealized Losses	8	3
Total, Fair Value	6,575	2,458
Total, Gross Unrealized Losses	239	63
U.S. public corporate securities
Investment [Line Items]
Less Than Twelve Months, Fair Value	3,905	3,944
Less Than Twelve Months, Gross Unrealized Loss	87	85
Twelve Months or More, Fair Value	1,197	2,203
Twelve Months or More, Gross Unrealized Losses	106	172
Total, Fair Value	5,102	6,147
Total, Gross Unrealized Losses	193	257
U.S. private corporate securities
Investment [Line Items]
Less Than Twelve Months, Fair Value	1,712	2,283
Less Than Twelve Months, Gross Unrealized Loss	52	44
Twelve Months or More, Fair Value	843	1,563
Twelve Months or More, Gross Unrealized Losses	82	76
Total, Fair Value	2,555	3,846
Total, Gross Unrealized Losses	134	120
Foreign public corporate securities
Investment [Line Items]
Less Than Twelve Months, Fair Value	1,412	1,271
Less Than Twelve Months, Gross Unrealized Loss	30	23
Twelve Months or More, Fair Value	376	496
Twelve Months or More, Gross Unrealized Losses	23	47
Total, Fair Value	1,788	1,767
Total, Gross Unrealized Losses	53	70
Foreign private corporate securities
Investment [Line Items]
Less Than Twelve Months, Fair Value	798	1,466
Less Than Twelve Months, Gross Unrealized Loss	34	33
Twelve Months or More, Fair Value	2,371	5,666
Twelve Months or More, Gross Unrealized Losses	192	547
Total, Fair Value	3,169	7,132
Total, Gross Unrealized Losses	226	580
Asset-backed securities
Investment [Line Items]
Less Than Twelve Months, Fair Value	4,132	3,979
Less Than Twelve Months, Gross Unrealized Loss	25	12
Twelve Months or More, Fair Value	4,685	4,433
Twelve Months or More, Gross Unrealized Losses	49	28
Total, Fair Value	8,817	8,412
Total, Gross Unrealized Losses	74	40
Commercial mortgage-backed securities
Investment [Line Items]
Less Than Twelve Months, Fair Value	284	1,193
Less Than Twelve Months, Gross Unrealized Loss	8	10
Twelve Months or More, Fair Value	93	164
Twelve Months or More, Gross Unrealized Losses	3	4
Total, Fair Value	377	1,357
Total, Gross Unrealized Losses	11	14
Residential mortgage-backed securities
Investment [Line Items]
Less Than Twelve Months, Fair Value	116	207
Less Than Twelve Months, Gross Unrealized Loss	1	1
Twelve Months or More, Fair Value	1	88
Twelve Months or More, Gross Unrealized Losses	0	1
Total, Fair Value	117	295
Total, Gross Unrealized Losses	$ 1	$ 2

Investments (Amortized Cost and

Investments (Amortized Cost and Fair Value of Fixed Maturities by Contractual Maturities) (Details) - USD ($) $ in Millions		Dec. 31, 2020		Dec. 31, 2019
Available for Sale, Amortized Cost
Due in one year or less		$ 11,534
Due after one year through five years		51,323
Due after five years through ten years		68,938
Due after ten years		190,467
Amortized Cost, AFS, FM		354,470		$ 346,574
Available-for-Sale, Fair Value
Due in one year or less		12,100
Due after one year through five years		55,272
Due after five years through ten years		78,293
Due after ten years		233,459
Fixed Maturities, Available for Sale, Fair Value	[1]	412,905		391,096
Held-to-Maturity, Amortized Cost
Due in one year or less		120
Due after one year through five years		526
Due after five years through ten years		87
Due after ten years		931
Amortized Cost, HTM, FM	[1]	1,930	[2]	1,933
Held-to-Maturity, Fair Value
Due in one year or less		120
Due after one year through five years		602
Due after five years through ten years		89
Due after ten years		1,201
Fair Value, HTM, FM		2,298		2,302
Asset-backed securities
Available for Sale, Amortized Cost
Debt Maturities, without single maturity date		14,489
Available-for-Sale, Fair Value
Debt Maturities, without Single Maturity Date		14,591
Held-to-Maturity, Amortized Cost
Debt Maturities, without Single Maturity Date		0
Held-to-Maturity, Fair Value
Debt Maturities, without Single Maturity Date		0
Commercial mortgage-backed securities
Available for Sale, Amortized Cost
Debt Maturities, without single maturity date		15,036
Available-for-Sale, Fair Value
Debt Maturities, without Single Maturity Date		16,303
Held-to-Maturity, Amortized Cost
Debt Maturities, without Single Maturity Date		0
Held-to-Maturity, Fair Value
Debt Maturities, without Single Maturity Date		0
Residential mortgage-backed securities
Available for Sale, Amortized Cost
Debt Maturities, without single maturity date		2,683
Available-for-Sale, Fair Value
Debt Maturities, without Single Maturity Date		2,887
Held-to-Maturity, Amortized Cost
Debt Maturities, without Single Maturity Date		266
Held-to-Maturity, Fair Value
Debt Maturities, without Single Maturity Date		286
Prudential Netting Agreement | U.S. private corporate securities
Available-for-Sale, Fair Value
Fixed Maturities, Available for Sale, Fair Value		5,966		4,751
Fixed maturities
Available for Sale, Amortized Cost
Amortized Cost, AFS, FM		354,470		346,574
Available-for-Sale, Fair Value
Fixed Maturities, Available for Sale, Fair Value		412,905		391,096
Held-to-Maturity, Amortized Cost
Amortized Cost, HTM, FM		1,939		1,933
Held-to-Maturity, Fair Value
Fair Value, HTM, FM		2,298		2,302
Fixed maturities | U.S. private corporate securities
Available for Sale, Amortized Cost
Amortized Cost, AFS, FM		36,894		34,410
Available-for-Sale, Fair Value
Fixed Maturities, Available for Sale, Fair Value		40,937		36,533
Fixed maturities | Asset-backed securities
Available for Sale, Amortized Cost
Amortized Cost, AFS, FM		14,489		13,067
Available-for-Sale, Fair Value
Fixed Maturities, Available for Sale, Fair Value		14,591		13,174
Fixed maturities | Commercial mortgage-backed securities
Available for Sale, Amortized Cost
Amortized Cost, AFS, FM		15,036		14,978
Available-for-Sale, Fair Value
Fixed Maturities, Available for Sale, Fair Value		16,303		15,574
Fixed maturities | Residential mortgage-backed securities
Available for Sale, Amortized Cost
Amortized Cost, AFS, FM		2,683		3,044
Available-for-Sale, Fair Value
Fixed Maturities, Available for Sale, Fair Value		2,887		3,201
Held-to-Maturity, Amortized Cost
Amortized Cost, HTM, FM		266		310
Held-to-Maturity, Fair Value
Fair Value, HTM, FM		286		331
Fixed maturities | Prudential Netting Agreement
Held-to-Maturity, Amortized Cost
Amortized Cost, HTM, FM		4,998		4,998
Held-to-Maturity, Fair Value
Fair Value, HTM, FM		5,821		5,401
Fixed maturities | Prudential Netting Agreement | U.S. private corporate securities
Available for Sale, Amortized Cost
Amortized Cost, AFS, FM		5,966		4,751
Available-for-Sale, Fair Value
Fixed Maturities, Available for Sale, Fair Value		$ 6,100		$ 4,757
[1]	See Note 4 for details of balances associated with variable interest entities.
[2]	December 31, 2020 amounts include the impacts of the January 1, 2020 adoption of ASU 2016-13. See Note 2 for details.

Investments (Fixed Maturity Pro

Investments (Fixed Maturity Proceeds) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Debt Securities[Line Items]
Proceeds from maturities/prepayments - AFS	$ 44,106	$ 52,306	$ 59,675
Proceeds from maturities/prepayments - HTM	88	100	94
Fixed maturities | Available-for-sale
Debt Securities[Line Items]
Proceeds from sales	21,013	32,283	38,230
Proceeds from maturities/prepayments - AFS	23,563	20,036	21,207
Gross investment gains from sales and maturities	1,690	1,715	1,412
Gross investment losses from sales and maturities	(524)	(434)	(905)
OTTI recognized in earnings		(315)	(279)
Write-downs recognized in earnings	304
(Addition to) release of allowance for credit losses - AFS	(133)
Fixed maturities | Held-to-maturity
Debt Securities[Line Items]
Proceeds from maturities/prepayments - HTM	88	99	94
(Addition to) release of allowance for credit Losses - HTM	0
Fixed maturities | Available-for-sale
Debt Securities[Line Items]
Noncash or Part Noncash Divestiture, Amount of Consideration Received	470	13	(238)
Fixed maturities | Held-to-maturity
Debt Securities[Line Items]
Noncash or Part Noncash Divestiture, Amount of Consideration Received	$ 1	$ (1)	$ (1)

Investments (Credit Losses Reco

Investments (Credit Losses Recognized In Earnings on Fixed Maturity Securities Held by the Company) (Details) - Fixed Maturities $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)
Available-for-sale
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Balance, beginning of period	$ 0
Additions to allowance for credit losses not previously recorded	295
Reductions for securities sold during the period	(165)
Additions (reductions) on securities with previous allowance	14
Write-downs charged against the allowance	(11)
Balance, ending of period	133
Available-for-sale | U.S. Treasury securities and obligations of U.S. government authorities and agencies
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Balance, beginning of period	0
Additions to allowance for credit losses not previously recorded	0
Reductions for securities sold during the period	0
Additions (reductions) on securities with previous allowance	0
Write-downs charged against the allowance	0
Balance, ending of period	0
Available-for-sale | Foreign government bonds
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Balance, beginning of period	0
Additions to allowance for credit losses not previously recorded	39
Reductions for securities sold during the period	(39)
Additions (reductions) on securities with previous allowance	0
Write-downs charged against the allowance	0
Balance, ending of period	0
Available-for-sale | Corporate bonds
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Balance, beginning of period	0
Additions to allowance for credit losses not previously recorded	255
Reductions for securities sold during the period	(126)
Additions (reductions) on securities with previous allowance	5
Write-downs charged against the allowance	(11)
Balance, ending of period	123
Available-for-sale | Asset-backed securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Balance, beginning of period	0
Additions to allowance for credit losses not previously recorded	0
Reductions for securities sold during the period	0
Additions (reductions) on securities with previous allowance	0
Write-downs charged against the allowance	0
Balance, ending of period	0
Available-for-sale | Commercial mortgage-backed securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Balance, beginning of period	0
Additions to allowance for credit losses not previously recorded	1
Reductions for securities sold during the period	0
Additions (reductions) on securities with previous allowance	9
Write-downs charged against the allowance	0
Balance, ending of period	10
Available-for-sale | Residential mortgage-backed securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Balance, beginning of period	0
Additions to allowance for credit losses not previously recorded	0
Reductions for securities sold during the period	0
Additions (reductions) on securities with previous allowance	0
Write-downs charged against the allowance	0
Balance, ending of period	0
Held-to-maturity
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Balance, beginning of period	0
Cumulative effect of adoption of ASU 2016-13	9
Balance, ending of period	9
Held-to-maturity | U.S. Treasury securities and obligations of U.S. government authorities and agencies
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Balance, beginning of period	0
Cumulative effect of adoption of ASU 2016-13	0
Balance, ending of period	0
Held-to-maturity | Foreign government bonds
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Balance, beginning of period	0
Cumulative effect of adoption of ASU 2016-13	0
Balance, ending of period	0
Held-to-maturity | Corporate bonds
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Balance, beginning of period	0
Cumulative effect of adoption of ASU 2016-13	9
Balance, ending of period	9
Held-to-maturity | Asset-backed securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Balance, beginning of period	0
Cumulative effect of adoption of ASU 2016-13	0
Balance, ending of period	0
Held-to-maturity | Commercial mortgage-backed securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Balance, beginning of period	0
Cumulative effect of adoption of ASU 2016-13	0
Balance, ending of period	0
Held-to-maturity | Residential mortgage-backed securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Balance, beginning of period	0
Cumulative effect of adoption of ASU 2016-13	0
Balance, ending of period	$ 0

Investments (Assets Supporting

Investments (Assets Supporting Experience-Rated Contractholder Liabilities) (Details) - USD ($) $ in Millions		Dec. 31, 2020	Dec. 31, 2019
Assets Supporting Experience-Rated Contractholder Liabilities [Line Items]
Assets supporting experience-rated contractholder liabilities, at amortized cost		$ 22,438	$ 20,646
Assets supporting experience-rated contractholder liabilities, at fair value	[1]	24,115	21,597
Fixed maturities
Assets Supporting Experience-Rated Contractholder Liabilities [Line Items]
Assets supporting experience-rated contractholder liabilities, at amortized cost		20,119	18,904
Assets supporting experience-rated contractholder liabilities, at fair value		21,414	19,530
Equity securities
Assets Supporting Experience-Rated Contractholder Liabilities [Line Items]
Assets supporting experience-rated contractholder liabilities, at amortized cost		1,661	1,465
Assets supporting experience-rated contractholder liabilities, at fair value		2,043	1,790
Short-term investments and cash equivalents
Assets Supporting Experience-Rated Contractholder Liabilities [Line Items]
Assets supporting experience-rated contractholder liabilities, at amortized cost		658	277
Assets supporting experience-rated contractholder liabilities, at fair value		658	277
Corporate securities | Fixed maturities
Assets Supporting Experience-Rated Contractholder Liabilities [Line Items]
Assets supporting experience-rated contractholder liabilities, at amortized cost		14,442	13,143
Assets supporting experience-rated contractholder liabilities, at fair value		15,472	13,603
Commercial mortgage-backed securities | Fixed maturities
Assets Supporting Experience-Rated Contractholder Liabilities [Line Items]
Assets supporting experience-rated contractholder liabilities, at amortized cost		1,743	1,845
Assets supporting experience-rated contractholder liabilities, at fair value		1,839	1,896
Residential mortgage-backed securities | Fixed maturities
Assets Supporting Experience-Rated Contractholder Liabilities [Line Items]
Assets supporting experience-rated contractholder liabilities, at amortized cost		964	1,134
Assets supporting experience-rated contractholder liabilities, at fair value		1,018	1,158
Asset-backed securities | Fixed maturities
Assets Supporting Experience-Rated Contractholder Liabilities [Line Items]
Assets supporting experience-rated contractholder liabilities, at amortized cost		1,665	1,639
Assets supporting experience-rated contractholder liabilities, at fair value		1,697	1,662
Foreign government bonds | Fixed maturities
Assets Supporting Experience-Rated Contractholder Liabilities [Line Items]
Assets supporting experience-rated contractholder liabilities, at amortized cost		934	802
Assets supporting experience-rated contractholder liabilities, at fair value		945	814
U.S. government authorities and agencies and obligations of U.S. states | Fixed maturities
Assets Supporting Experience-Rated Contractholder Liabilities [Line Items]
Assets supporting experience-rated contractholder liabilities, at amortized cost		371	341
Assets supporting experience-rated contractholder liabilities, at fair value		443	397
Collateralized loan obligations
Assets Supporting Experience-Rated Contractholder Liabilities [Line Items]
Assets supporting experience-rated contractholder liabilities, at fair value		$ 1,102	$ 1,060
Public Securities
Assets Supporting Experience-Rated Contractholder Liabilities [Line Items]
Assets supporting experience-rated contractholder liabilities, at amortized cost percentage		79.00%	77.00%
NAIC High or Highest Quality Rating | Fixed maturities
Assets Supporting Experience-Rated Contractholder Liabilities [Line Items]
Assets supporting experience-rated contractholder liabilities, at amortized cost percentage		94.00%	94.00%
[1]	See Note 4 for details of balances associated with variable interest entities.

Investments (Narrative) (Detail

Investments (Narrative) (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2020		Dec. 31, 2019	Dec. 31, 2018
Schedule of Investments [Line Items]
Master funds gross assets		$ 54,123		$ 89,313
Master funds gross liabilities		50,706		86,471
Unaffiliated interest		201		230
Consolidated feeder funds’ investments		459		428
Fixed Maturities, Available for Sale, Fair Value	[1]	412,905		391,096
Assets supporting experience-rated contractholder liabilities		22,438		20,646
Other invested assets	[1]	18,125	[2]	15,606
Write-down on accrued investment income receivable		1
Fixed maturity securities purchased with credit deterioration		0
Loans on non-accrual status recognized in interest income		2
Loans on non-accrual status do not have allowance for credit losses		15
Commercial mortgage and other loans purchased with credit deterioration		0
Fixed maturities, trading, at fair value	[1]	3,914		3,884
Fair value of collateral		8,872		7,729
Corporate securities
Schedule of Investments [Line Items]
Gross unrealized losses of twelve months or more concentrated in various sectors		463		878
Equity securities
Schedule of Investments [Line Items]
Assets supporting experience-rated contractholder liabilities		1,661		1,465
Fixed Maturities
Schedule of Investments [Line Items]
Gross unrealized losses		949		1,315
Gross unrealized losses of twelve months or more concentrated in various sectors		463		878
Fixed Maturities, Available for Sale, Fair Value		412,905		391,096
Assets supporting experience-rated contractholder liabilities		20,119		18,904
Other Income | Equity securities
Schedule of Investments [Line Items]
Unrealized Gain (Loss) on Investments		205		943	$ (1,157)
Other Income | Assets supporting experience-rated contractholder liabilities
Schedule of Investments [Line Items]
Unrealized Gain (Loss) on Investments		726		996	$ (778)
Investments
Schedule of Investments [Line Items]
Fair value of collateral		252		1,012
Cash
Schedule of Investments [Line Items]
Fair value of collateral		8,620		6,717
Carrying value of non-income producing assets
Schedule of Investments [Line Items]
Fixed Maturities, Available for Sale, Fair Value		389
Assets supporting experience-rated contractholder liabilities		29
Fixed maturities, trading, at fair value		$ 1
California
Schedule of Investments [Line Items]
Commercial mortgage loan, concentration percentage		28.00%
Texas
Schedule of Investments [Line Items]
Commercial mortgage loan, concentration percentage		8.00%
New York
Schedule of Investments [Line Items]
Commercial mortgage loan, concentration percentage		7.00%
Europe
Schedule of Investments [Line Items]
Commercial mortgage loan, concentration percentage		8.00%
Australia
Schedule of Investments [Line Items]
Commercial mortgage loan, concentration percentage		2.00%
Asia
Schedule of Investments [Line Items]
Commercial mortgage loan, concentration percentage		2.00%
NAIC High or Highest Quality Rating | Fixed Maturities
Schedule of Investments [Line Items]
Gross unrealized losses		$ 636		973
NAIC Other Than High or Highest Quality Rating | Fixed Maturities
Schedule of Investments [Line Items]
Gross unrealized losses		$ 313		$ 342
[1]	See Note 4 for details of balances associated with variable interest entities.
[2]	December 31, 2020 amounts include the impacts of the January 1, 2020 adoption of ASU 2016-13. See Note 2 for details.

Investments (Concentrations of

Investments (Concentrations of Credit Risk) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Investments in Japanese government and government agency securities:
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Concentration of credit risk at amortized cost	$ 82,059	$ 75,663
Concentration of credit risk at fair value	94,817	91,376
Investments in South Korean government and government agency securities:
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Concentration of credit risk at amortized cost	41	10,838
Concentration of credit risk at fair value	49	13,338
Assets supporting experience-rated contractholder liabilities | Investments in Japanese government and government agency securities:
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Concentration of credit risk at amortized cost	849	653
Concentration of credit risk at fair value	855	664
Assets supporting experience-rated contractholder liabilities | Investments in South Korean government and government agency securities:
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Concentration of credit risk at amortized cost	15	15
Concentration of credit risk at fair value	16	16
Available-for-sale | Fixed Maturities | Investments in Japanese government and government agency securities:
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Concentration of credit risk at amortized cost	80,273	74,118
Concentration of credit risk at fair value	92,764	89,546
Available-for-sale | Fixed Maturities | Investments in South Korean government and government agency securities:
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Concentration of credit risk at amortized cost	26	10,823
Concentration of credit risk at fair value	33	13,322
Held-to-maturity | Fixed Maturities | Investments in Japanese government and government agency securities:
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Concentration of credit risk at amortized cost	912	869
Concentration of credit risk at fair value	1,173	1,143
Trading | Fixed Maturities | Investments in Japanese government and government agency securities:
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Concentration of credit risk at amortized cost	25	23
Concentration of credit risk at fair value	$ 25	$ 23

Investments (Commercial Mortgag

Investments (Commercial Mortgage and Other Loans) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Commercial Mortgage and Other Loans [Line Items]
Commercial mortgage and agricultural property loans by property type	$ 64,784	$ 62,835
Other loans	876	845
Total commercial mortgage and other loans	$ 65,425	$ 63,559
% of Total	100.00%	100.00%
Net carrying value of commercial loans held for sale	$ 1,092	$ 228
Commercial Mortgage Loans
Commercial Mortgage and Other Loans [Line Items]
Commercial mortgage and agricultural property loans by property type	$ 60,736	$ 59,363
% of Total	93.80%	94.50%
Commercial mortgage and agricultural property loans
Commercial Mortgage and Other Loans [Line Items]
Allowance for credit losses	$ (227)	$ (117)
Total net loans	64,557	62,718
Uncollateralized loans
Commercial Mortgage and Other Loans [Line Items]
Other loans	655	656
Residential property loans
Commercial Mortgage and Other Loans [Line Items]
Other loans	101	124
Collateralized Loan Obligations
Commercial Mortgage and Other Loans [Line Items]
Other loans	120	65
Other loans
Commercial Mortgage and Other Loans [Line Items]
Total net loans	868	841
Allowance for credit losses, Other loans	(8)	(4)
Office
Commercial Mortgage and Other Loans [Line Items]
Commercial mortgage and agricultural property loans by property type	$ 12,750	$ 13,462
% of Total	19.70%	21.40%
Retail
Commercial Mortgage and Other Loans [Line Items]
Commercial mortgage and agricultural property loans by property type	$ 7,326	$ 8,379
% of Total	11.30%	13.30%
Apartment/Multi-Family
Commercial Mortgage and Other Loans [Line Items]
Commercial mortgage and agricultural property loans by property type	$ 18,330	$ 17,348
% of Total	28.30%	27.60%
Industrial
Commercial Mortgage and Other Loans [Line Items]
Commercial mortgage and agricultural property loans by property type	$ 14,954	$ 13,226
% of Total	23.10%	21.10%
Hospitality
Commercial Mortgage and Other Loans [Line Items]
Commercial mortgage and agricultural property loans by property type	$ 2,395	$ 2,415
% of Total	3.70%	3.90%
Other
Commercial Mortgage and Other Loans [Line Items]
Commercial mortgage and agricultural property loans by property type	$ 4,981	$ 4,533
% of Total	7.70%	7.20%
Agricultural property loans
Commercial Mortgage and Other Loans [Line Items]
Commercial mortgage and agricultural property loans by property type	$ 4,048	$ 3,472
% of Total	6.20%	5.50%

Investments (Allowance for Cred

Investments (Allowance for Credit Losses) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Allowance for Loan and Lease Losses [Roll Forward]
Balance, beginning of year	$ 121	$ 128	$ 106
Cumulative effect of adoption of ASU 2016-13	115
Addition to (release of) allowance for credit/expected losses	3	(6)	22
Charge-offs, net of recoveries		(1)	0
Write-downs charged against allowance	(7)
Other	3
Total ending balance	235	121	128
Commercial Mortgage Loans
Allowance for Loan and Lease Losses [Roll Forward]
Balance, beginning of year	114	120	97
Cumulative effect of adoption of ASU 2016-13	110
Addition to (release of) allowance for credit/expected losses	1	(5)	23
Charge-offs, net of recoveries		(1)	0
Write-downs charged against allowance	(7)
Other	0
Total ending balance	218	114	120
Agricultural Property Loans
Allowance for Loan and Lease Losses [Roll Forward]
Balance, beginning of year	3	3	3
Cumulative effect of adoption of ASU 2016-13	5
Addition to (release of) allowance for credit/expected losses	1	0	0
Charge-offs, net of recoveries		0	0
Write-downs charged against allowance	0
Other	0
Total ending balance	9	3	3
Residential property loans
Allowance for Loan and Lease Losses [Roll Forward]
Balance, beginning of year	0	0	1
Cumulative effect of adoption of ASU 2016-13	0
Addition to (release of) allowance for credit/expected losses	0	0	(1)
Charge-offs, net of recoveries		0	0
Write-downs charged against allowance	0
Other	0
Total ending balance	0	0	0
Collateralized Loan Obligations
Allowance for Loan and Lease Losses [Roll Forward]
Balance, beginning of year	0	0	0
Cumulative effect of adoption of ASU 2016-13	0
Addition to (release of) allowance for credit/expected losses	0	0	0
Charge-offs, net of recoveries		0	0
Write-downs charged against allowance	0
Other	3
Total ending balance	3	0	0
Uncollateralized loans
Allowance for Loan and Lease Losses [Roll Forward]
Balance, beginning of year	4	5	5
Cumulative effect of adoption of ASU 2016-13	0
Addition to (release of) allowance for credit/expected losses	1	(1)	0
Charge-offs, net of recoveries		0	0
Write-downs charged against allowance	0
Other	0
Total ending balance	$ 5	$ 4	$ 5

Investments (Credit Quality Ind

Investments (Credit Quality Indicators) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Financing Receivable, Credit Quality Indicator [Line Items]
Recorded investment gross of allowance for credit losses	$ 1
Commercial Mortgage Loans
Financing Receivable, Credit Quality Indicator [Line Items]
2020	6,021
2019	10,264
2018	9,069
2017	7,219
2016	6,831
Prior	21,332
Recorded investment gross of allowance for credit losses	60,736	$ 59,363
Commercial Mortgage Loans | ≥ 1.2X
Financing Receivable, Credit Quality Indicator [Line Items]
2020	5,901
2019	9,429
2018	8,587
2017	6,954
2016	6,382
Prior	18,904
Recorded investment gross of allowance for credit losses	56,157	56,346
Commercial Mortgage Loans | 1.0X to 1.2X
Financing Receivable, Credit Quality Indicator [Line Items]
2020	118
2019	711
2018	383
2017	263
2016	384
Prior	1,719
Recorded investment gross of allowance for credit losses	3,578	2,708
Commercial Mortgage Loans | Less than 1.0X
Financing Receivable, Credit Quality Indicator [Line Items]
2020	2
2019	124
2018	99
2017	2
2016	65
Prior	709
Recorded investment gross of allowance for credit losses	1,001	309
Agricultural property loans
Financing Receivable, Credit Quality Indicator [Line Items]
2020	964
2019	545
2018	388
2017	530
2016	367
Prior	1,254
Recorded investment gross of allowance for credit losses	4,048	3,472
Agricultural property loans | ≥ 1.2X
Financing Receivable, Credit Quality Indicator [Line Items]
2020	941
2019	544
2018	381
2017	468
2016	308
Prior	1,202
Recorded investment gross of allowance for credit losses	3,844	3,401
Agricultural property loans | 1.0X to 1.2X
Financing Receivable, Credit Quality Indicator [Line Items]
2020	23
2019	0
2018	1
2017	59
2016	1
Prior	40
Recorded investment gross of allowance for credit losses	124	57
Agricultural property loans | Less than 1.0X
Financing Receivable, Credit Quality Indicator [Line Items]
2020	0
2019	1
2018	6
2017	3
2016	58
Prior	12
Recorded investment gross of allowance for credit losses	80	14
0%-59.99% | Commercial Mortgage Loans
Financing Receivable, Credit Quality Indicator [Line Items]
2020	828
2019	2,693
2018	3,217
2017	3,854
2016	3,223
Prior	15,360
Recorded investment gross of allowance for credit losses	29,175	31,945
0%-59.99% | Commercial Mortgage Loans | ≥ 1.2X
Financing Receivable, Credit Quality Indicator [Line Items]
Recorded investment gross of allowance for credit losses		31,027
0%-59.99% | Commercial Mortgage Loans | 1.0X to 1.2X
Financing Receivable, Credit Quality Indicator [Line Items]
Recorded investment gross of allowance for credit losses		701
0%-59.99% | Commercial Mortgage Loans | Less than 1.0X
Financing Receivable, Credit Quality Indicator [Line Items]
Recorded investment gross of allowance for credit losses		217
0%-59.99% | Agricultural property loans
Financing Receivable, Credit Quality Indicator [Line Items]
2020	956
2019	494
2018	349
2017	527
2016	367
Prior	1,254
Recorded investment gross of allowance for credit losses	3,947	3,360
0%-59.99% | Agricultural property loans | ≥ 1.2X
Financing Receivable, Credit Quality Indicator [Line Items]
Recorded investment gross of allowance for credit losses		3,289
0%-59.99% | Agricultural property loans | 1.0X to 1.2X
Financing Receivable, Credit Quality Indicator [Line Items]
Recorded investment gross of allowance for credit losses		57
0%-59.99% | Agricultural property loans | Less than 1.0X
Financing Receivable, Credit Quality Indicator [Line Items]
Recorded investment gross of allowance for credit losses		14
60%-69.99% | Commercial Mortgage Loans
Financing Receivable, Credit Quality Indicator [Line Items]
2020	2,678
2019	4,981
2018	4,291
2017	2,239
2016	2,667
Prior	4,058
Recorded investment gross of allowance for credit losses	20,914	18,277
60%-69.99% | Commercial Mortgage Loans | ≥ 1.2X
Financing Receivable, Credit Quality Indicator [Line Items]
Recorded investment gross of allowance for credit losses		17,090
60%-69.99% | Commercial Mortgage Loans | 1.0X to 1.2X
Financing Receivable, Credit Quality Indicator [Line Items]
Recorded investment gross of allowance for credit losses		1,145
60%-69.99% | Commercial Mortgage Loans | Less than 1.0X
Financing Receivable, Credit Quality Indicator [Line Items]
Recorded investment gross of allowance for credit losses		42
60%-69.99% | Agricultural property loans
Financing Receivable, Credit Quality Indicator [Line Items]
2020	8
2019	51
2018	39
2017	3
2016	0
Prior	0
Recorded investment gross of allowance for credit losses	101	112
60%-69.99% | Agricultural property loans | ≥ 1.2X
Financing Receivable, Credit Quality Indicator [Line Items]
Recorded investment gross of allowance for credit losses		112
60%-69.99% | Agricultural property loans | 1.0X to 1.2X
Financing Receivable, Credit Quality Indicator [Line Items]
Recorded investment gross of allowance for credit losses		0
60%-69.99% | Agricultural property loans | Less than 1.0X
Financing Receivable, Credit Quality Indicator [Line Items]
Recorded investment gross of allowance for credit losses		0
70%-79.99% | Commercial Mortgage Loans
Financing Receivable, Credit Quality Indicator [Line Items]
2020	2,492
2019	2,587
2018	1,500
2017	1,057
2016	918
Prior	1,409
Recorded investment gross of allowance for credit losses	9,963	8,767
70%-79.99% | Commercial Mortgage Loans | ≥ 1.2X
Financing Receivable, Credit Quality Indicator [Line Items]
Recorded investment gross of allowance for credit losses		8,020
70%-79.99% | Commercial Mortgage Loans | 1.0X to 1.2X
Financing Receivable, Credit Quality Indicator [Line Items]
Recorded investment gross of allowance for credit losses		719
70%-79.99% | Commercial Mortgage Loans | Less than 1.0X
Financing Receivable, Credit Quality Indicator [Line Items]
Recorded investment gross of allowance for credit losses		28
70%-79.99% | Agricultural property loans
Financing Receivable, Credit Quality Indicator [Line Items]
2020	0
2019	0
2018	0
2017	0
2016	0
Prior	0
Recorded investment gross of allowance for credit losses	0	0
70%-79.99% | Agricultural property loans | ≥ 1.2X
Financing Receivable, Credit Quality Indicator [Line Items]
Recorded investment gross of allowance for credit losses		0
70%-79.99% | Agricultural property loans | 1.0X to 1.2X
Financing Receivable, Credit Quality Indicator [Line Items]
Recorded investment gross of allowance for credit losses		0
70%-79.99% | Agricultural property loans | Less than 1.0X
Financing Receivable, Credit Quality Indicator [Line Items]
Recorded investment gross of allowance for credit losses		0
80% or greater | Commercial Mortgage Loans
Financing Receivable, Credit Quality Indicator [Line Items]
2020	23
2019	3
2018	61
2017	69
2016	23
Prior	505
Recorded investment gross of allowance for credit losses	684	374
80% or greater | Commercial Mortgage Loans | ≥ 1.2X
Financing Receivable, Credit Quality Indicator [Line Items]
Recorded investment gross of allowance for credit losses		209
80% or greater | Commercial Mortgage Loans | 1.0X to 1.2X
Financing Receivable, Credit Quality Indicator [Line Items]
Recorded investment gross of allowance for credit losses		143
80% or greater | Commercial Mortgage Loans | Less than 1.0X
Financing Receivable, Credit Quality Indicator [Line Items]
Recorded investment gross of allowance for credit losses		22
80% or greater | Agricultural property loans
Financing Receivable, Credit Quality Indicator [Line Items]
2020	0
2019	0
2018	0
2017	0
2016	0
Prior	0
Recorded investment gross of allowance for credit losses	$ 0	0
80% or greater | Agricultural property loans | ≥ 1.2X
Financing Receivable, Credit Quality Indicator [Line Items]
Recorded investment gross of allowance for credit losses		0
80% or greater | Agricultural property loans | 1.0X to 1.2X
Financing Receivable, Credit Quality Indicator [Line Items]
Recorded investment gross of allowance for credit losses		0
80% or greater | Agricultural property loans | Less than 1.0X
Financing Receivable, Credit Quality Indicator [Line Items]
Recorded investment gross of allowance for credit losses		$ 0

Investments (Analysis of Past D

Investments (Analysis of Past Due Commercial Mortgage and Other Loans) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Financing Receivable, Past Due [Line Items]
Current	$ 65,484	$ 63,663
Total Past Due	176	17
Total Loans	65,660	63,680
Non-Accrual Status	21	59
30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Past Due	41	2
60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Past Due	119	0
90 days or more past due
Financing Receivable, Past Due [Line Items]
Total Past Due	16	15
Commercial Mortgage Loans
Financing Receivable, Past Due [Line Items]
Current	60,614	59,363
Total Past Due	122	0
Total Loans	60,736	59,363
Non-Accrual Status	5	44
Commercial Mortgage Loans | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Past Due	3	0
Commercial Mortgage Loans | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Past Due	119	0
Commercial Mortgage Loans | 90 days or more past due
Financing Receivable, Past Due [Line Items]
Total Past Due	0	0
Agricultural property loans
Financing Receivable, Past Due [Line Items]
Current	3,996	3,458
Total Past Due	52	14
Total Loans	4,048	3,472
Non-Accrual Status	15	13
Agricultural property loans | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Past Due	37	1
Agricultural property loans | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Past Due	0	0
Agricultural property loans | 90 days or more past due
Financing Receivable, Past Due [Line Items]
Total Past Due	15	13
Residential property loans
Financing Receivable, Past Due [Line Items]
Current	99	121
Total Past Due	2	3
Total Loans	101	124
Non-Accrual Status	1	2
Residential property loans | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Past Due	1	1
Residential property loans | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Past Due	0	0
Residential property loans | 90 days or more past due
Financing Receivable, Past Due [Line Items]
Total Past Due	1	2
Collateralized Loan Obligations
Financing Receivable, Past Due [Line Items]
Current	120	65
Total Past Due	0	0
Total Loans	120	65
Non-Accrual Status	0	0
Collateralized Loan Obligations | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Past Due	0	0
Collateralized Loan Obligations | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Past Due	0	0
Collateralized Loan Obligations | 90 days or more past due
Financing Receivable, Past Due [Line Items]
Total Past Due	0	0
Uncollateralized loans
Financing Receivable, Past Due [Line Items]
Current	655	656
Total Past Due	0	0
Total Loans	655	656
Non-Accrual Status	0	0
Uncollateralized loans | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Past Due	0	0
Uncollateralized loans | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Total Past Due	0	0
Uncollateralized loans | 90 days or more past due
Financing Receivable, Past Due [Line Items]
Total Past Due	0	0
Loans | 90 days or more past due
Financing Receivable, Past Due [Line Items]
Accruing Interest	$ 0	$ 0

Investments (Other Invested Ass

Investments (Other Invested Assets) (Details) - USD ($) $ in Millions		Dec. 31, 2020		Dec. 31, 2019
Other Invested Assets
Other invested assets	[2]	$ 18,125	[1]	$ 15,606
LPs/LLCs
Other Invested Assets
Other invested assets		12,883		11,157
Real estate held through direct ownership
Other Invested Assets
Other invested assets		2,027		2,388
Derivative Instruments
Other Invested Assets
Other invested assets		1,915		877
Other
Other Invested Assets
Other invested assets		1,300		1,184
Mortgage Debt | Real estate-related
Other Invested Assets
Other invested assets		409		537
Equity method | LPs/LLCs
Other Invested Assets
Other invested assets		8,747		6,944
Equity method | Private equity | LPs/LLCs
Other Invested Assets
Other invested assets		4,605		3,625
Equity method | Hedge funds | LPs/LLCs
Other Invested Assets
Other invested assets		2,451		1,947
Equity method | Real estate-related | LPs/LLCs
Other Invested Assets
Other invested assets		1,691		1,372
Fair Value
Other Invested Assets
Other invested assets		153		36
Fair Value | LPs/LLCs
Other Invested Assets
Other invested assets		4,136		4,213
Fair Value | Private equity | LPs/LLCs
Other Invested Assets
Other invested assets		1,786		1,705
Fair Value | Hedge funds | LPs/LLCs
Other Invested Assets
Other invested assets		2,036		2,172
Fair Value | Real estate-related | LPs/LLCs
Other Invested Assets
Other invested assets		$ 314		$ 336
[1]	December 31, 2020 amounts include the impacts of the January 1, 2020 adoption of ASU 2016-13. See Note 2 for details.
[2]	See Note 4 for details of balances associated with variable interest entities.

Investments (Equity Method Inve

Investments (Equity Method Investments, Statement of Financial Position) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Schedule of Equity Method Investments [Line Items]
Total assets	$ 940,722	$ 896,552
Total liabilities	872,512	832,833
Partner's Capital	67,425	63,115
Total liabilities and partner's capital	940,722	896,552
Equity Method Investment
Schedule of Equity Method Investments [Line Items]
Total assets	424,712	313,828
Total liabilities	35,705	19,274
Partner's Capital	389,007	294,554
Total liabilities and partner's capital	424,712	313,828
Total liabilities and partners’ capital included above	9,475	7,438
Equity in LP/LLC interests not included above	666	814
Carrying value	$ 10,141	$ 8,252

Investments (Equity Method In_2

Investments (Equity Method Investments, Statement of Operations) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Investments [Abstract]
Total revenues	$ 42,964	$ 11,430	$ 6,264
Total Expenses	(8,887)	(5,800)	(3,222)
Net earnings (losses)	34,077	5,630	3,042
Equity in net earnings (losses) included above	744	525	233
Equity in net earnings (losses) of LP/LLC interests not included above	28	11	14
Total equity in net earnings (loss)	$ 772	$ 536	$ 247

Investments (Accrued Investment

Investments (Accrued Investment Income) (Details) - USD ($) $ in Millions		Dec. 31, 2020	Dec. 31, 2019
Net Investment Income [Line Items]
Accrued investment income	[1]	$ 3,193	$ 3,330
Fixed Maturities
Net Investment Income [Line Items]
Accrued investment income		2,676
Equities
Net Investment Income [Line Items]
Accrued investment income		7
Commercial mortgage and other loans
Net Investment Income [Line Items]
Accrued investment income		205
Policy loans
Net Investment Income [Line Items]
Accrued investment income		274
Other invested assets
Net Investment Income [Line Items]
Accrued investment income		27
Short-term investments and cash equivalents
Net Investment Income [Line Items]
Accrued investment income		$ 4
[1]	See Note 4 for details of balances associated with variable interest entities.

Investments (Net Investment Inc

Investments (Net Investment Income) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Net Investment Income [Line Items]
Gross Investment Income	$ 18,146	$ 18,577	$ 17,082
Less: investment expenses	(736)	(992)	(906)
Net investment income	17,410	17,585	16,176
Assets supporting experience-rated contractholder liabilities
Net Investment Income [Line Items]
Gross Investment Income	700	731	722
Equity securities
Net Investment Income [Line Items]
Gross Investment Income	162	160	164
Commercial mortgage and other loans
Net Investment Income [Line Items]
Gross Investment Income	2,485	2,584	2,352
Policy loans
Net Investment Income [Line Items]
Gross Investment Income	584	619	622
Other invested assets
Net Investment Income [Line Items]
Gross Investment Income	1,318	1,005	519
Short-term investments and cash equivalents
Net Investment Income [Line Items]
Gross Investment Income	197	453	345
Available-for-sale | Fixed Maturities
Net Investment Income [Line Items]
Gross Investment Income	12,339	12,644	11,989
Held-to-maturity | Fixed Maturities
Net Investment Income [Line Items]
Gross Investment Income	235	232	226
Trading | Fixed Maturities
Net Investment Income [Line Items]
Gross Investment Income	$ 126	$ 149	$ 143

Investments (Realized Investmen

Investments (Realized Investment Gains Losses Net) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Gain (Loss) on Securities [Line Items]
Realized investment gains (losses), net	$ (3,887)	$ (459)	$ 1,977
Fixed Maturities
Gain (Loss) on Securities [Line Items]
Realized investment gains (losses), net	729	966	228
Commercial mortgage and other loans
Gain (Loss) on Securities [Line Items]
Realized investment gains (losses), net	103	44	49
Investment Real Estate
Gain (Loss) on Securities [Line Items]
Realized investment gains (losses), net	(16)	78	84
LPs/LLCs
Gain (Loss) on Securities [Line Items]
Realized investment gains (losses), net	2	(38)	17
Derivatives
Gain (Loss) on Securities [Line Items]
Realized investment gains (losses), net	(4,715)	(1,513)	1,597
Other
Gain (Loss) on Securities [Line Items]
Realized investment gains (losses), net	$ 10	$ 4	$ 2

Investments (Net Unrealized Gai

Investments (Net Unrealized Gains Losses on Investments by Asset Class) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Gain (Loss) on Securities [Line Items]
Net Unrealized Gains (Losses) on Investments	$ 58,417	$ 45,339	$ 22,720
Fixed Maturities | Available-for-sale | OTTI
Gain (Loss) on Securities [Line Items]
Net Unrealized Gains (Losses) on Investments		243	190
Fixed Maturities | Available-for-sale | All Other
Gain (Loss) on Securities [Line Items]
Net Unrealized Gains (Losses) on Investments		44,279	21,721
Fixed Maturities | Available-for-sale | With an allowance
Gain (Loss) on Securities [Line Items]
Net Unrealized Gains (Losses) on Investments	(25)
Fixed Maturities | Available-for-sale | Without an allowance
Gain (Loss) on Securities [Line Items]
Net Unrealized Gains (Losses) on Investments	58,593
Derivatives designated as cash flow hedges
Gain (Loss) on Securities [Line Items]
Net Unrealized Gains (Losses) on Investments	(168)	832	811
Derivatives designated as fair value hedges
Gain (Loss) on Securities [Line Items]
Net Unrealized Gains (Losses) on Investments	10	0	0
Other Investments
Gain (Loss) on Securities [Line Items]
Net Unrealized Gains (Losses) on Investments	7	$ (15)	$ (2)
Other Investments | Held-to-maturity
Gain (Loss) on Securities [Line Items]
Net Unrealized Gains (Losses) on Investments	$ 0

Investments (Repurchase Agreeme

Investments (Repurchase Agreements and Securities Lending Transactions) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Total securities sold under agreements to repurchase	$ 10,894	$ 9,681
Total cash collateral for loaned securities	3,499	4,213
Overnight & Continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Total securities sold under agreements to repurchase	10,348	9,681
Total cash collateral for loaned securities	3,499	4,213
Up to 30 Days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Total securities sold under agreements to repurchase	546	0
Total cash collateral for loaned securities	0	0
30 days or greater
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Total securities sold under agreements to repurchase	0	0
Total cash collateral for loaned securities	0	0
U.S. Treasury securities and obligations of U.S. government authorities and agencies
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Total securities sold under agreements to repurchase	10,094	9,431
Total cash collateral for loaned securities	0	9
U.S. Treasury securities and obligations of U.S. government authorities and agencies | Overnight & Continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Total securities sold under agreements to repurchase	9,548	9,431
Total cash collateral for loaned securities	0	9
U.S. Treasury securities and obligations of U.S. government authorities and agencies | Up to 30 Days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Total securities sold under agreements to repurchase	546	0
Total cash collateral for loaned securities	0	0
Obligations of U.S. states and their political subdivisions
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Total cash collateral for loaned securities	108	33
Obligations of U.S. states and their political subdivisions | Overnight & Continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Total cash collateral for loaned securities	108	33
Obligations of U.S. states and their political subdivisions | Up to 30 Days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Total cash collateral for loaned securities	0	0
Foreign government bonds
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Total cash collateral for loaned securities	426	244
Foreign government bonds | Overnight & Continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Total cash collateral for loaned securities	426	244
Foreign government bonds | Up to 30 Days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Total cash collateral for loaned securities	0	0
U.S. public corporate securities
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Total cash collateral for loaned securities	2,360	2,996
U.S. public corporate securities | Overnight & Continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Total cash collateral for loaned securities	2,360	2,996
U.S. public corporate securities | Up to 30 Days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Total cash collateral for loaned securities	0	0
Foreign public corporate securities
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Total cash collateral for loaned securities	567	762
Foreign public corporate securities | Overnight & Continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Total cash collateral for loaned securities	567	762
Foreign public corporate securities | Up to 30 Days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Total cash collateral for loaned securities	0	0
Commercial mortgage-backed securities
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Total securities sold under agreements to repurchase	463	0
Total cash collateral for loaned securities	0	2
Commercial mortgage-backed securities | Overnight & Continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Total securities sold under agreements to repurchase	463	0
Total cash collateral for loaned securities	0	2
Commercial mortgage-backed securities | Up to 30 Days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Total securities sold under agreements to repurchase	0	0
Total cash collateral for loaned securities	0	0
Residential mortgage-backed securities
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Total securities sold under agreements to repurchase	337	250
Residential mortgage-backed securities | Overnight & Continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Total securities sold under agreements to repurchase	337	250
Residential mortgage-backed securities | Up to 30 Days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Total securities sold under agreements to repurchase	0	0
Equity securities
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Total cash collateral for loaned securities	38	167
Equity securities | Overnight & Continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Total cash collateral for loaned securities	38	167
Equity securities | Up to 30 Days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Total cash collateral for loaned securities	$ 0	$ 0

Investments (Securities Pledged

Investments (Securities Pledged) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Financial Instruments Owned and Pledged as Collateral [Line Items]
Total securities pledged	$ 23,761	$ 18,724
Total liabilities supported by the pledged collateral	17,642	16,518
Fixed maturities
Financial Instruments Owned and Pledged as Collateral [Line Items]
Total securities pledged	19,608	15,109
Assets supporting experience-rated contractholder liabilities
Financial Instruments Owned and Pledged as Collateral [Line Items]
Total securities pledged	29	22
Separate account assets
Financial Instruments Owned and Pledged as Collateral [Line Items]
Total securities pledged	3,191	2,547
Equity securities
Financial Instruments Owned and Pledged as Collateral [Line Items]
Total securities pledged	416	543
Securities sold under agreements to repurchase
Financial Instruments Owned and Pledged as Collateral [Line Items]
Total liabilities supported by the pledged collateral	10,894	9,681
Cash collateral for loaned securities
Financial Instruments Owned and Pledged as Collateral [Line Items]
Total liabilities supported by the pledged collateral	3,499	4,213
Separate account liabilities
Financial Instruments Owned and Pledged as Collateral [Line Items]
Total liabilities supported by the pledged collateral	3,249	2,624
Other
Financial Instruments Owned and Pledged as Collateral [Line Items]
Total securities pledged	450	445
Trading | Fixed maturities
Financial Instruments Owned and Pledged as Collateral [Line Items]
Total securities pledged	$ 67	$ 58

Investments (Assets on Deposit,

Investments (Assets on Deposit, Held in Trust and Restricted as to Sale) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Assets on Deposit, Held in Trust and Restricted as to Sale [Line Items]
Assets on deposit with governmental authorities or trustees	$ 31	$ 30
Assets held in voluntary trusts	539	58
Assets held in trust related to reinsurance and other agreements	16,614	14,897
Securities restricted as to sale	153	36
Total assets on deposit, assets held in trust and securities restricted as to sale	17,337	15,021
Wholly-owned subsidiaries
Assets on Deposit, Held in Trust and Restricted as to Sale [Line Items]
Assets held in trust related to reinsurance and other agreements	$ 34,000	$ 21,700

Variable Interest Entities (Ass

Variable Interest Entities (Assets and Liabilities of Consolidated VIEs) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Variable Interest Entity [Line Items]
Assets	$ 940,722	$ 896,552
Total liabilities	872,512	832,833
Consolidated VIEs for Which the Company is the Investment Manager
Variable Interest Entity [Line Items]
Assets	4,292	5,048
Total liabilities	561	1,578
Consolidated VIEs for Which the Company is the Investment Manager | Wholly-owned Beneficial Interests
Variable Interest Entity [Line Items]
Assets	2,538	2,668
Consolidated VIEs for Which the Company is the Investment Manager | Assets supporting experience-rated contractholder liabilities
Variable Interest Entity [Line Items]
Assets	0	0
Consolidated VIEs for Which the Company is the Investment Manager | Equity securities
Variable Interest Entity [Line Items]
Assets	42	47
Consolidated VIEs for Which the Company is the Investment Manager | Commercial mortgage and other loans
Variable Interest Entity [Line Items]
Assets	975	883
Consolidated VIEs for Which the Company is the Investment Manager | Other
Variable Interest Entity [Line Items]
Assets	2,221	2,199
Consolidated VIEs for Which the Company is the Investment Manager | Cash and cash equivalents
Variable Interest Entity [Line Items]
Assets	101	166
Consolidated VIEs for Which the Company is the Investment Manager | Accrued investment income
Variable Interest Entity [Line Items]
Assets	2	4
Consolidated VIEs for Which the Company is the Investment Manager | Other assets
Variable Interest Entity [Line Items]
Assets	594	450
Consolidated VIEs for Which the Company is the Investment Manager | Other liabilities
Variable Interest Entity [Line Items]
Total liabilities	256	304
Consolidated VIEs for Which the Company is the Investment Manager | Notes issued by consolidated VIEs
Variable Interest Entity [Line Items]
Total liabilities	305	1,274
Other Consolidated VIEs
Variable Interest Entity [Line Items]
Assets	2,077	1,910
Total liabilities	2	13
Other Consolidated VIEs | Assets supporting experience-rated contractholder liabilities
Variable Interest Entity [Line Items]
Assets	0	4
Other Consolidated VIEs | Equity securities
Variable Interest Entity [Line Items]
Assets	0	0
Other Consolidated VIEs | Commercial mortgage and other loans
Variable Interest Entity [Line Items]
Assets	0	0
Other Consolidated VIEs | Other
Variable Interest Entity [Line Items]
Assets	127	89
Other Consolidated VIEs | Cash and cash equivalents
Variable Interest Entity [Line Items]
Assets	0	0
Other Consolidated VIEs | Accrued investment income
Variable Interest Entity [Line Items]
Assets	4	4
Other Consolidated VIEs | Other assets
Variable Interest Entity [Line Items]
Assets	768	689
Other Consolidated VIEs | Other liabilities
Variable Interest Entity [Line Items]
Total liabilities	2	13
Other Consolidated VIEs | Notes issued by consolidated VIEs
Variable Interest Entity [Line Items]
Total liabilities	0	0
Available-for-sale | Consolidated VIEs for Which the Company is the Investment Manager | Fixed maturities
Variable Interest Entity [Line Items]
Assets	110	104
Available-for-sale | Other Consolidated VIEs | Fixed maturities
Variable Interest Entity [Line Items]
Assets	296	285
Held-to-maturity | Consolidated VIEs for Which the Company is the Investment Manager | Fixed maturities
Variable Interest Entity [Line Items]
Assets	87	83
Held-to-maturity | Other Consolidated VIEs | Fixed maturities
Variable Interest Entity [Line Items]
Assets	882	839
Trading | Consolidated VIEs for Which the Company is the Investment Manager | Fixed maturities
Variable Interest Entity [Line Items]
Assets	160	1,112
Trading | Other Consolidated VIEs | Fixed maturities
Variable Interest Entity [Line Items]
Assets	$ 0	$ 0
Maximum | Consolidated VIEs for Which the Company is the Investment Manager | Notes issued by consolidated VIEs
Variable Interest Entity [Line Items]
Debt Instrument, Term	4 years

Variable Interest Entities (Nar

Variable Interest Entities (Narrative) (Details) - USD ($)		Dec. 31, 2020		Dec. 31, 2019
Variable Interest Entity [Line Items]
Notes issued by consolidated VIEs		$ 872,512,000,000		$ 832,833,000,000
Other invested assets	[2]	18,125,000,000	[1]	15,606,000,000
Total liabilities		872,512,000,000		832,833,000,000
Unconsolidated VIEs
Variable Interest Entity [Line Items]
Notes issued by consolidated VIEs		0
Total liabilities		0
Joint ventures and limited partnerships
Variable Interest Entity [Line Items]
Other invested assets		12,883,000,000		11,157,000,000
Fixed maturities, available-for-sale, Fixed maturities, trading, Equity securities and Other invested assets
Variable Interest Entity [Line Items]
Maximum exposure to loss resulting from investment in unconsolidated VIEs		935,000,000		1,021,000,000
Other | Joint ventures and limited partnerships
Variable Interest Entity [Line Items]
Maximum exposure to loss resulting from investment in unconsolidated VIEs		$ 12,883,000,000		$ 11,157,000,000
[1]	December 31, 2020 amounts include the impacts of the January 1, 2020 adoption of ASU 2016-13. See Note 2 for details.
[2]	See Note 4 for details of balances associated with variable interest entities.

Derivative Instruments (Narrati

Derivative Instruments (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Total derivative assets	$ 1,906	$ 867
Total derivative liabilities	792	831
Anticipated pre-tax loss reclassified from accumulated other comprehensive income (loss) to earnings	$ 230
Maximum Length of Time Hedged in Cash Flow Hedge (future cash flows)	10 years
Net investment hedges income (loss) before taxes	$ (149)	4	$ 6
Non-derivative AOCI Net Investment Hedge Before Tax	(21)	0	$ 0
Derivative [Line Items]
Credit Risk Derivatives, at Fair Value, Asset Net (Liability)	63	21
Credit Derivative Protection Purchased Notional Amount	307	6
Credit Default Swap, Buying Protection
Derivative [Line Items]
Credit Risk Derivatives, at Fair Value, Asset Net (Liability)	$ 28	$ 0
Credit Index Product
Derivative [Line Items]
Credit Derivatives Written Max Length Of Maturities	27 years

Derivative Instruments (Gross N

Derivative Instruments (Gross Notional Amount and Fair Value of Derivatives Contracts) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Derivative [Line Items]
Notional	$ 445,049	$ 379,860
Assets	23,273	14,386
Liabilities	(18,267)	(7,536)
Embedded Derivative, Fair Value of Embedded Derivative, Net	(20,119)	(14,035)
Derivatives Designated as Hedge Accounting Instruments:
Derivative [Line Items]
Notional	28,533	27,669
Assets	1,924	2,121
Liabilities	(1,251)	(433)
Derivatives Designated as Hedge Accounting Instruments: | Interest Rate Swaps
Derivative [Line Items]
Notional	3,065	3,257
Assets	978	628
Liabilities	(90)	(73)
Derivatives Designated as Hedge Accounting Instruments: | Interest Rate Forwards
Derivative [Line Items]
Notional	249	205
Assets	0	4
Liabilities	(8)	(1)
Derivatives Designated as Hedge Accounting Instruments: | Foreign Currency Forwards
Derivative [Line Items]
Notional	2,577	1,461
Assets	68	22
Liabilities	(116)	(57)
Derivatives Designated as Hedge Accounting Instruments: | Foreign Currency Swaps
Derivative [Line Items]
Notional	22,642	22,746
Assets	878	1,467
Liabilities	(1,037)	(302)
Derivatives Not Qualifying as Hedge Accounting Instruments:
Derivative [Line Items]
Notional	416,516	352,191
Assets	21,349	12,265
Liabilities	(17,016)	(7,103)
Derivatives Not Qualifying as Hedge Accounting Instruments: | Interest Rate Swaps
Derivative [Line Items]
Notional	178,803	141,162
Assets	17,174	10,249
Liabilities	(13,172)	(4,861)
Derivatives Not Qualifying as Hedge Accounting Instruments: | Interest Rate Forwards
Derivative [Line Items]
Notional	2,910	2,218
Assets	25	18
Liabilities	0	(3)
Derivatives Not Qualifying as Hedge Accounting Instruments: | Foreign Currency Forwards
Derivative [Line Items]
Notional	35,478	26,604
Assets	764	208
Liabilities	(647)	(214)
Derivatives Not Qualifying as Hedge Accounting Instruments: | Foreign Currency Options
Derivative [Line Items]
Notional	0	0
Assets	0	0
Liabilities	0	0
Derivatives Not Qualifying as Hedge Accounting Instruments: | Foreign Currency Swaps
Derivative [Line Items]
Notional	13,661	13,874
Assets	537	740
Liabilities	(601)	(345)
Derivatives Not Qualifying as Hedge Accounting Instruments: | Interest Rate Futures
Derivative [Line Items]
Notional	15,778	17,095
Assets	99	4
Liabilities	(5)	(38)
Derivatives Not Qualifying as Hedge Accounting Instruments: | Interest Rate Options
Derivative [Line Items]
Notional	14,593	16,496
Assets	914	339
Liabilities	(233)	(238)
Derivatives Not Qualifying as Hedge Accounting Instruments: | Credit Default Swaps
Derivative [Line Items]
Notional	3,360	798
Assets	63	21
Liabilities	(28)	0
Derivatives Not Qualifying as Hedge Accounting Instruments: | Equity Futures
Derivative [Line Items]
Notional	5,668	1,802
Assets	10	0
Liabilities	(25)	(3)
Derivatives Not Qualifying as Hedge Accounting Instruments: | Equity Options
Derivative [Line Items]
Notional	36,250	32,657
Assets	1,731	679
Liabilities	(1,028)	(765)
Derivatives Not Qualifying as Hedge Accounting Instruments: | Total Return Swaps
Derivative [Line Items]
Notional	22,489	18,218
Assets	32	6
Liabilities	(1,277)	(636)
Derivatives Not Qualifying as Hedge Accounting Instruments: | Other
Derivative [Line Items]
Notional	1,262	1,258
Assets	0	0
Liabilities	0	0
Derivatives Not Qualifying as Hedge Accounting Instruments: | Synthetic GICs
Derivative [Line Items]
Notional	86,264	80,009
Assets	0	1
Liabilities	$ 0	$ 0

Derivative Instruments Derivati

Derivative Instruments Derivative Instruments (Hedged Item Offset By Derivatives Achieving Fair Value Hedge Accounting) (Details) (Details) - USD ($) $ in Millions		Dec. 31, 2020		Dec. 31, 2019
Derivative [Line Items]
Fixed Maturities, Available for Sale, Fair Value	[1]	$ 412,905		$ 391,096
Commercial mortgage and other loans	[1]	65,425	[2]	63,559
Policyholders’ account balances		(161,682)		(152,110)
Future policy benefits		(306,343)		(293,527)
Carrying Amount of the Hedged Assets (Liabilities)
Derivative [Line Items]
Fixed Maturities, Available for Sale, Fair Value		402		389
Commercial mortgage and other loans		20		23
Policyholders’ account balances		(1,627)		(1,376)
Future policy benefits		(1,585)		(676)
Cumulative Adjustment Included in Carrying Amount
Derivative [Line Items]
Fixed Maturities, Available for Sale, Fair Value		79		64
Commercial mortgage and other loans		2		2
Policyholders’ account balances		(303)		(107)
Future policy benefits		$ (372)		$ (172)
[1]	See Note 4 for details of balances associated with variable interest entities.
[2]	December 31, 2020 amounts include the impacts of the January 1, 2020 adoption of ASU 2016-13. See Note 2 for details.

Derivative Instruments (Offsett

Derivative Instruments (Offsetting Assets and Liabilities) (Details) - USD ($) $ in Millions	Dec. 31, 2020		Dec. 31, 2019
Derivative Assets
Gross Amounts of Recognized Financial Instruments	$ 23,144		$ 14,303
Gross Amounts Offset in the Statements of Financial Position	(21,367)		(13,519)
Net Amounts Presented in the Statements of Financial Position	1,777		784
Financial Instruments/Collateral	(806)		(607)
Net Amount	971		177
Securities purchased under agreement to resell
Gross Amounts of Recognized Financial Instruments	252		1,012
Gross Amounts Offset in the Statements of Financial Position	0		0
Net Amounts Presented in the Statements of Financial Position	252		1,012
Financial Instruments/Collateral	(252)		(1,012)
Net Amount	0		0
Total Assets
Gross Amounts of Recognized Financial Instruments	23,396		15,315
Gross Amounts Offset in the Statements of Financial Position	(21,367)		(13,519)
Net Amounts Presented in the Statements of Financial Position	2,029		1,796
Financial Instruments/Collateral	(1,058)		(1,619)
Net Amount	971		177
Derivative Liabilities
Gross Amounts of Recognized Financial Instruments	18,265		7,528
Gross Amounts Offset in the Statement of Financial Position	(17,475)		(6,705)
Net Amounts Presented in the Statement of Financial Position	790		823
Financial Instruments/Collateral	(790)		(244)
Net Amount	0		579
Securities sold under agreement to repurchase
Gross Amounts of Recognized Financial Instruments	10,894		9,681
Gross Amounts Offset in the Statement of Financial Position	0		0
Net Amounts Presented in the Statement of Financial Position	10,894	[1]	9,681
Financial Instruments/Collateral	(10,432)		(9,681)
Net Amount	462		0
Total Liabilities
Gross Amounts of Recognized Financial Instruments	29,159		17,209
Gross Amounts Offset in the Statement of Financial Position	(17,475)		(6,705)
Net Amounts Presented in the Statement of Financial Position	11,684		10,504
Financial Instruments/Collateral	(11,222)		(9,925)
Net Amount	$ 462		$ 579
[1]	December 31, 2020 amounts include the impacts of the January 1, 2020 adoption of ASU 2016-13. See Note 2 for details.

Derivative Instruments (Financi

Derivative Instruments (Financial Statement Classification and Impact of Derivatives Used in Qualifying and Non-qualifying Hedge Relationships) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Gain (Loss) on Investments
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	$ (4,711)	$ (1,506)	$ 1,584
Gain (Loss) on Investments | Derivatives Not Qualifying as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	(4,847)	(1,698)	1,512
Investment Income
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	326	298	242
Investment Income | Derivatives Not Qualifying as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Other Income (Loss)
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	(182)	(92)	259
Other Income (Loss) | Derivatives Not Qualifying as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	(5)	5	2
Interest Expense
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	(1)	0	(1)
Interest Expense | Derivatives Not Qualifying as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Interest Credited To Policyholders’ Account Balances
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	40	8	14
Interest Credited To Policyholders’ Account Balances | Derivatives Not Qualifying as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Policyholder Benefts
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	30	15	4
Policyholder Benefts | Derivatives Not Qualifying as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
AOCI
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	(1,118)	16	856
AOCI | Derivatives Not Qualifying as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Fair value hedges | Gain (Loss) on Investments | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	(17)	(14)	26
Fair value hedges | Investment Income | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	(8)	(7)	(9)
Fair value hedges | Other Income (Loss) | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Fair value hedges | Interest Expense | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Fair value hedges | Interest Credited To Policyholders’ Account Balances | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	236	194	(65)
Fair value hedges | Policyholder Benefts | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	232	155	35
Fair value hedges | AOCI | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Fair Value Hedged Item | Gain (Loss) on Investments
Derivative Instruments Gain Loss [Line Items]
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	16	12	(32)
Change In Unrealized Gain (Loss) On Hedged Item In Fair Value Net Of Hedging Instrument	(1)	(2)	(6)
Fair Value Hedged Item | Investment Income
Derivative Instruments Gain Loss [Line Items]
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	19	23	34
Change In Unrealized Gain (Loss) On Hedged Item In Fair Value Net Of Hedging Instrument	11	16	25
Fair Value Hedged Item | Other Income (Loss)
Derivative Instruments Gain Loss [Line Items]
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	0	0	0
Change In Unrealized Gain (Loss) On Hedged Item In Fair Value Net Of Hedging Instrument	0	0	0
Fair Value Hedged Item | Interest Expense
Derivative Instruments Gain Loss [Line Items]
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	0	0	0
Change In Unrealized Gain (Loss) On Hedged Item In Fair Value Net Of Hedging Instrument	0	0	0
Fair Value Hedged Item | Interest Credited To Policyholders’ Account Balances
Derivative Instruments Gain Loss [Line Items]
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	(196)	(186)	79
Change In Unrealized Gain (Loss) On Hedged Item In Fair Value Net Of Hedging Instrument	40	8	14
Fair Value Hedged Item | Policyholder Benefts
Derivative Instruments Gain Loss [Line Items]
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	(201)	(140)	(31)
Change In Unrealized Gain (Loss) On Hedged Item In Fair Value Net Of Hedging Instrument	30	15	4
Fair Value Hedged Item | AOCI
Derivative Instruments Gain Loss [Line Items]
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	0	0	0
Change In Unrealized Gain (Loss) On Hedged Item In Fair Value Net Of Hedging Instrument	10	0	0
Cash flow hedges | Gain (Loss) on Investments | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	144	194	78
Cash flow hedges | Investment Income | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	315	282	217
Cash flow hedges | Other Income (Loss) | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	(303)	(97)	257
Cash flow hedges | Interest Expense | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	(1)	0	(1)
Cash flow hedges | Interest Credited To Policyholders’ Account Balances | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Cash flow hedges | Policyholder Benefts | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Cash flow hedges | AOCI | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	(1,000)	12	850
Net investment hedges | Gain (Loss) on Investments | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	(7)	0	0
Net investment hedges | Investment Income | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Net investment hedges | Other Income (Loss) | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	126	0	0
Net investment hedges | Interest Expense | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Net investment hedges | Interest Credited To Policyholders’ Account Balances | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Net investment hedges | Policyholder Benefts | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Net investment hedges | AOCI | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	(128)	4	6
Interest Rate | Gain (Loss) on Investments | Derivatives Not Qualifying as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	5,800	4,533	(1,226)
Interest Rate | Investment Income | Derivatives Not Qualifying as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Interest Rate | Other Income (Loss) | Derivatives Not Qualifying as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Interest Rate | Interest Expense | Derivatives Not Qualifying as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Interest Rate | Interest Credited To Policyholders’ Account Balances | Derivatives Not Qualifying as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Interest Rate | Policyholder Benefts | Derivatives Not Qualifying as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Interest Rate | AOCI | Derivatives Not Qualifying as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Interest Rate | Fair value hedges | Gain (Loss) on Investments | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	(17)	(14)	20
Interest Rate | Fair value hedges | Investment Income | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	(8)	(7)	(9)
Interest Rate | Fair value hedges | Other Income (Loss) | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Interest Rate | Fair value hedges | Interest Expense | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Interest Rate | Fair value hedges | Interest Credited To Policyholders’ Account Balances | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	236	194	(65)
Interest Rate | Fair value hedges | Policyholder Benefts | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	186	155	35
Interest Rate | Fair value hedges | AOCI | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Interest Rate | Fair Value Hedged Item | Gain (Loss) on Investments
Derivative Instruments Gain Loss [Line Items]
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	16	11	(27)
Interest Rate | Fair Value Hedged Item | Investment Income
Derivative Instruments Gain Loss [Line Items]
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	18	20	31
Interest Rate | Fair Value Hedged Item | Other Income (Loss)
Derivative Instruments Gain Loss [Line Items]
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	0	0	0
Interest Rate | Fair Value Hedged Item | Interest Expense
Derivative Instruments Gain Loss [Line Items]
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	0	0	0
Interest Rate | Fair Value Hedged Item | Interest Credited To Policyholders’ Account Balances
Derivative Instruments Gain Loss [Line Items]
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	(196)	(186)	79
Interest Rate | Fair Value Hedged Item | Policyholder Benefts
Derivative Instruments Gain Loss [Line Items]
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	(155)	(140)	(31)
Interest Rate | Fair Value Hedged Item | AOCI
Derivative Instruments Gain Loss [Line Items]
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	0	0	0
Interest Rate | Cash flow hedges | Gain (Loss) on Investments | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	40	58	2
Interest Rate | Cash flow hedges | Investment Income | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	1	0	0
Interest Rate | Cash flow hedges | Other Income (Loss) | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Interest Rate | Cash flow hedges | Interest Expense | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	(1)	0	(1)
Interest Rate | Cash flow hedges | Interest Credited To Policyholders’ Account Balances | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Interest Rate | Cash flow hedges | Policyholder Benefts | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Interest Rate | Cash flow hedges | AOCI | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	7	(25)	32
Currency | Gain (Loss) on Investments | Derivatives Not Qualifying as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	100	14	342
Currency | Investment Income | Derivatives Not Qualifying as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Currency | Other Income (Loss) | Derivatives Not Qualifying as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	(1)	5	(1)
Currency | Interest Expense | Derivatives Not Qualifying as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Currency | Interest Credited To Policyholders’ Account Balances | Derivatives Not Qualifying as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Currency | Policyholder Benefts | Derivatives Not Qualifying as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Currency | AOCI | Derivatives Not Qualifying as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Currency | Fair value hedges | Gain (Loss) on Investments | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	6
Currency | Fair value hedges | Investment Income | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Currency | Fair value hedges | Other Income (Loss) | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Currency | Fair value hedges | Interest Expense | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Currency | Fair value hedges | Interest Credited To Policyholders’ Account Balances | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Currency | Fair value hedges | Policyholder Benefts | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	46	0	0
Currency | Fair value hedges | AOCI | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Currency | Fair Value Hedged Item | Gain (Loss) on Investments
Derivative Instruments Gain Loss [Line Items]
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	0	1	(5)
Currency | Fair Value Hedged Item | Investment Income
Derivative Instruments Gain Loss [Line Items]
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	1	3	3
Currency | Fair Value Hedged Item | Other Income (Loss)
Derivative Instruments Gain Loss [Line Items]
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	0	0	0
Currency | Fair Value Hedged Item | Interest Expense
Derivative Instruments Gain Loss [Line Items]
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	0	0	0
Currency | Fair Value Hedged Item | Interest Credited To Policyholders’ Account Balances
Derivative Instruments Gain Loss [Line Items]
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	0	0	0
Currency | Fair Value Hedged Item | Policyholder Benefts
Derivative Instruments Gain Loss [Line Items]
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	(46)	0	0
Currency | Fair Value Hedged Item | AOCI
Derivative Instruments Gain Loss [Line Items]
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	0	0	0
Currency | Amortization of Gain(loss) excluded from assessment of effectiveness | Gain (Loss) on Investments
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0
Currency | Amortization of Gain(loss) excluded from assessment of effectiveness | Investment Income
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0
Currency | Amortization of Gain(loss) excluded from assessment of effectiveness | Other Income (Loss)
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0
Currency | Amortization of Gain(loss) excluded from assessment of effectiveness | Interest Expense
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0
Currency | Amortization of Gain(loss) excluded from assessment of effectiveness | Interest Credited To Policyholders’ Account Balances
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0
Currency | Amortization of Gain(loss) excluded from assessment of effectiveness | Policyholder Benefts
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	(1)
Currency | Amortization of Gain(loss) excluded from assessment of effectiveness | AOCI
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	10
Currency | Cash flow hedges | Gain (Loss) on Investments | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	5	6	7
Currency | Cash flow hedges | Investment Income | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Currency | Cash flow hedges | Other Income (Loss) | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Currency | Cash flow hedges | Interest Expense | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Currency | Cash flow hedges | Interest Credited To Policyholders’ Account Balances | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Currency | Cash flow hedges | Policyholder Benefts | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Currency | Cash flow hedges | AOCI | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	(69)	(62)	20
Currency | Net investment hedges | Gain (Loss) on Investments | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	(7)	0	0
Currency | Net investment hedges | Investment Income | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Currency | Net investment hedges | Other Income (Loss) | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	126	0	0
Currency | Net investment hedges | Interest Expense | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Currency | Net investment hedges | Interest Credited To Policyholders’ Account Balances | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Currency | Net investment hedges | Policyholder Benefts | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Currency | Net investment hedges | AOCI | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	(128)	4	6
Currency/Interest Rate | Gain (Loss) on Investments | Derivatives Not Qualifying as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	(188)	394	364
Currency/Interest Rate | Investment Income | Derivatives Not Qualifying as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Currency/Interest Rate | Other Income (Loss) | Derivatives Not Qualifying as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	(4)	0	3
Currency/Interest Rate | Interest Expense | Derivatives Not Qualifying as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Currency/Interest Rate | Interest Credited To Policyholders’ Account Balances | Derivatives Not Qualifying as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Currency/Interest Rate | Policyholder Benefts | Derivatives Not Qualifying as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Currency/Interest Rate | AOCI | Derivatives Not Qualifying as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Currency/Interest Rate | Cash flow hedges | Gain (Loss) on Investments | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	99	130	69
Currency/Interest Rate | Cash flow hedges | Investment Income | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	314	282	217
Currency/Interest Rate | Cash flow hedges | Other Income (Loss) | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	(303)	(97)	257
Currency/Interest Rate | Cash flow hedges | Interest Expense | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Currency/Interest Rate | Cash flow hedges | Interest Credited To Policyholders’ Account Balances | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Currency/Interest Rate | Cash flow hedges | Policyholder Benefts | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Currency/Interest Rate | Cash flow hedges | AOCI | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	(938)	99	798
Currency/Interest Rate | Net investment hedges | Gain (Loss) on Investments | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Currency/Interest Rate | Net investment hedges | Investment Income | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Currency/Interest Rate | Net investment hedges | Other Income (Loss) | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Currency/Interest Rate | Net investment hedges | Interest Expense | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Currency/Interest Rate | Net investment hedges | Interest Credited To Policyholders’ Account Balances | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Currency/Interest Rate | Net investment hedges | Policyholder Benefts | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Currency/Interest Rate | Net investment hedges | AOCI | Derivatives Designated as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Credit | Gain (Loss) on Investments | Derivatives Not Qualifying as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	(56)	123	(55)
Credit | Investment Income | Derivatives Not Qualifying as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Credit | Other Income (Loss) | Derivatives Not Qualifying as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Credit | Interest Expense | Derivatives Not Qualifying as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Credit | Interest Credited To Policyholders’ Account Balances | Derivatives Not Qualifying as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Credit | Policyholder Benefts | Derivatives Not Qualifying as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Credit | AOCI | Derivatives Not Qualifying as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Equity | Gain (Loss) on Investments | Derivatives Not Qualifying as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	(5,623)	(4,057)	1,121
Equity | Investment Income | Derivatives Not Qualifying as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Equity | Other Income (Loss) | Derivatives Not Qualifying as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Equity | Interest Expense | Derivatives Not Qualifying as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Equity | Interest Credited To Policyholders’ Account Balances | Derivatives Not Qualifying as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Equity | Policyholder Benefts | Derivatives Not Qualifying as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Equity | AOCI | Derivatives Not Qualifying as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Other Contract | Gain (Loss) on Investments | Derivatives Not Qualifying as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	2	0	0
Other Contract | Investment Income | Derivatives Not Qualifying as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Other Contract | Other Income (Loss) | Derivatives Not Qualifying as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Other Contract | Interest Expense | Derivatives Not Qualifying as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Other Contract | Interest Credited To Policyholders’ Account Balances | Derivatives Not Qualifying as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Other Contract | Policyholder Benefts | Derivatives Not Qualifying as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Other Contract | AOCI | Derivatives Not Qualifying as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Embedded Derivative Financial Instruments | Gain (Loss) on Investments | Derivatives Not Qualifying as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	(4,882)	(2,705)	966
Embedded Derivative Financial Instruments | Investment Income | Derivatives Not Qualifying as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Embedded Derivative Financial Instruments | Other Income (Loss) | Derivatives Not Qualifying as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Embedded Derivative Financial Instruments | Interest Expense | Derivatives Not Qualifying as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Embedded Derivative Financial Instruments | Interest Credited To Policyholders’ Account Balances | Derivatives Not Qualifying as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Embedded Derivative Financial Instruments | Policyholder Benefts | Derivatives Not Qualifying as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	0	0	0
Embedded Derivative Financial Instruments | AOCI | Derivatives Not Qualifying as Hedge Accounting Instruments:
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain (Loss) Recognized In Income Net	$ 0	$ 0	$ 0

Derivative Instruments (Current

Derivative Instruments (Current Period Cash Flow Hedges in AOCI (loss) before Taxes) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Cumulative Effect of New Accounting Principle in Period of Adoption			$ 9
Cash flow hedges in AOCI
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Balance, beginning	$ 832	$ 811	(39)
Net deferred gains/(losses) on cash flow hedges for the reporting period	(845)	391	1,401
Amount reclassified into current period earnings	(155)	(379)	(551)
Ending Balance	(168)	832	811
Interest Rate | Cash flow hedges in AOCI
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Net deferred gains/(losses) on cash flow hedges for the reporting period	47	33	33
Amount reclassified into current period earnings	(40)	(58)	(1)
Currency | Cash flow hedges in AOCI
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Net deferred gains/(losses) on cash flow hedges for the reporting period	(64)	(56)	27
Amount reclassified into current period earnings	(5)	(6)	(7)
Currency/Interest Rate | Cash flow hedges in AOCI
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Net deferred gains/(losses) on cash flow hedges for the reporting period	(828)	414	1,341
Amount reclassified into current period earnings	$ (110)	$ (315)	$ (543)

Derivative Instruments (Credit

Derivative Instruments (Credit Derivatives) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Derivative [Line Items]
Credit Derivative, Maximum Exposure, Undiscounted	$ 3,053	$ 792
Credit Risk Derivatives, at Fair Value, Asset Net (Liability)	63	21
Single Name
Derivative [Line Items]
Credit Derivative, Maximum Exposure, Undiscounted	0	100
Credit Risk Derivatives, at Fair Value, Asset Net (Liability)	0	1
Credit Default Index
Derivative [Line Items]
Credit Derivative, Maximum Exposure, Undiscounted	3,053	692
Credit Risk Derivatives, at Fair Value, Asset Net (Liability)	63	20
NAIC 1
Derivative [Line Items]
Credit Derivative, Maximum Exposure, Undiscounted	50	86
Credit Risk Derivatives, at Fair Value, Asset Net (Liability)	0	0
NAIC 1 | Single Name
Derivative [Line Items]
Credit Derivative, Maximum Exposure, Undiscounted	0	36
Credit Risk Derivatives, at Fair Value, Asset Net (Liability)	0	0
NAIC 1 | Credit Default Index
Derivative [Line Items]
Credit Derivative, Maximum Exposure, Undiscounted	50	50
Credit Risk Derivatives, at Fair Value, Asset Net (Liability)	0	0
NAIC 2
Derivative [Line Items]
Credit Derivative, Maximum Exposure, Undiscounted	0	60
Credit Risk Derivatives, at Fair Value, Asset Net (Liability)	0	1
NAIC 2 | Single Name
Derivative [Line Items]
Credit Derivative, Maximum Exposure, Undiscounted	0	60
Credit Risk Derivatives, at Fair Value, Asset Net (Liability)	0	1
NAIC 2 | Credit Default Index
Derivative [Line Items]
Credit Derivative, Maximum Exposure, Undiscounted	0	0
Credit Risk Derivatives, at Fair Value, Asset Net (Liability)	0	0
NAIC 3
Derivative [Line Items]
Credit Derivative, Maximum Exposure, Undiscounted	3,003	574
Credit Risk Derivatives, at Fair Value, Asset Net (Liability)	63	13
NAIC 3 | Single Name
Derivative [Line Items]
Credit Derivative, Maximum Exposure, Undiscounted	0	4
Credit Risk Derivatives, at Fair Value, Asset Net (Liability)	0	0
NAIC 3 | Credit Default Index
Derivative [Line Items]
Credit Derivative, Maximum Exposure, Undiscounted	3,003	570
Credit Risk Derivatives, at Fair Value, Asset Net (Liability)	63	13
NAIC 4
Derivative [Line Items]
Credit Derivative, Maximum Exposure, Undiscounted	0	0
Credit Risk Derivatives, at Fair Value, Asset Net (Liability)	0	0
NAIC 4 | Single Name
Derivative [Line Items]
Credit Derivative, Maximum Exposure, Undiscounted	0	0
Credit Risk Derivatives, at Fair Value, Asset Net (Liability)	0	0
NAIC 4 | Credit Default Index
Derivative [Line Items]
Credit Derivative, Maximum Exposure, Undiscounted	0	0
Credit Risk Derivatives, at Fair Value, Asset Net (Liability)	0	0
NAIC 5
Derivative [Line Items]
Credit Derivative, Maximum Exposure, Undiscounted	0	0
Credit Risk Derivatives, at Fair Value, Asset Net (Liability)	0	0
NAIC 5 | Single Name
Derivative [Line Items]
Credit Derivative, Maximum Exposure, Undiscounted	0	0
Credit Risk Derivatives, at Fair Value, Asset Net (Liability)	0	0
NAIC 5 | Credit Default Index
Derivative [Line Items]
Credit Derivative, Maximum Exposure, Undiscounted	0	0
Credit Risk Derivatives, at Fair Value, Asset Net (Liability)	0	0
NAIC 6
Derivative [Line Items]
Credit Derivative, Maximum Exposure, Undiscounted	0	72
Credit Risk Derivatives, at Fair Value, Asset Net (Liability)	0	7
NAIC 6 | Single Name
Derivative [Line Items]
Credit Derivative, Maximum Exposure, Undiscounted	0	0
Credit Risk Derivatives, at Fair Value, Asset Net (Liability)	0	0
NAIC 6 | Credit Default Index
Derivative [Line Items]
Credit Derivative, Maximum Exposure, Undiscounted	0	72
Credit Risk Derivatives, at Fair Value, Asset Net (Liability)	$ 0	$ 7

Fair Value of Assets and Liab_3

Fair Value of Assets and Liabilities (Balances of Assets and Liabilities Measured at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Millions		Dec. 31, 2020		Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed Maturities, Available for Sale, Fair Value	[1]	$ 412,905		$ 391,096
Assets supporting experience-rated contractholder liabilities	[1]	24,115		21,597
Fixed maturities, trading	[1]	3,914		3,884
Equity securities, Fair Value	[1]	8,135		7,522
Commercial mortgage and other loans	[1]	65,425	[2]	63,559
Other invested assets	[1]	18,125	[2]	15,606
Short term investments, allowance for credit losses		7,800
Other assets	[1]	22,801	[2]	20,832
Separate account assets		327,277		312,281
Assets		940,722		896,552
Future policy benefits		306,343		293,527
Other liabilities		20,323		20,802
Total liabilities		872,512		832,833
Netting		(21,367)		(13,519)
Embedded Derivative, Fair Value of Embedded Derivative, Net Liability		20,119		14,035
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		18,900		12,800
Embedded Derivative, Fair Value of Embedded Derivative Gross Asset		500		700
Embedded Derivative, Fair Value of Embedded Derivative Gross Liability		19,400		13,500
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed Maturities, Available for Sale, Fair Value		412,905		391,096
Assets supporting experience-rated contractholder liabilities		24,076		21,581
Fixed maturities, trading		3,914		3,884
Equity securities, Fair Value		7,998		7,385
Commercial mortgage and other loans		1,092		228
Other invested assets		2,271		1,433
Short term investments, allowance for credit losses		6,310		3,936
Cash equivalents		5,482		9,006
Other assets		268		113
Separate account assets		304,270		288,724
Assets		768,586		727,386
Future policy benefits		18,879		12,831
Policyholders' account balances		1,914		1,316
Other liabilities		385		936
Notes issued by consolidated VIEs		0		800
Total liabilities		21,178		15,883
Asset Netting		(21,367)		(13,519)
Liability Netting		(17,475)		(6,705)
Netting		(3,892)		(6,814)
Fair Value, Measurements, Recurring | Other invested assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset Netting		(21,367)		(13,519)
Fair Value, Measurements, Recurring | Other liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liability Netting		(17,475)		(6,705)
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, Fair Value		40,448		35,659
Assets supporting experience-rated contractholder liabilities		212		185
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, Fair Value		12,811		11,497
Assets supporting experience-rated contractholder liabilities		231		212
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, Fair Value		110,244		119,054
Assets supporting experience-rated contractholder liabilities		945		814
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, Fair Value		113,555		98,339
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, Fair Value		40,937		36,533
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, Fair Value		29,537		29,825
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, Fair Value		31,592		28,240
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		15,472		13,603
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, Fair Value		14,591		13,174
Assets supporting experience-rated contractholder liabilities		1,697		1,662
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, Fair Value		16,303		15,574
Assets supporting experience-rated contractholder liabilities		1,839		1,896
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, Fair Value		2,887		3,201
Assets supporting experience-rated contractholder liabilities		1,018		1,158
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		2,043		1,790
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		619		261
Fair Value, Measurements, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed Maturities, Available for Sale, Fair Value		0		0
Assets supporting experience-rated contractholder liabilities		1,834		1,505
Fixed maturities, trading		0		0
Equity securities, Fair Value		6,207		5,813
Commercial mortgage and other loans		0		0
Other invested assets		227		6
Short term investments, allowance for credit losses		405		1,806
Cash equivalents		1,476		2,079
Other assets		0		0
Separate account assets		51,826		46,574
Assets		61,975		57,783
Future policy benefits		0		0
Policyholders' account balances		0		0
Other liabilities		32		41
Notes issued by consolidated VIEs		0		0
Total liabilities		32		41
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, Fair Value		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, Fair Value		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, Fair Value		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, Fair Value		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, Fair Value		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, Fair Value		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, Fair Value		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, Fair Value		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, Fair Value		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, Fair Value		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		1,784		1,505
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		50		0
Fair Value, Measurements, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed Maturities, Available for Sale, Fair Value		406,862		386,781
Assets supporting experience-rated contractholder liabilities		21,607		19,346
Fixed maturities, trading		3,671		3,597
Equity securities, Fair Value		1,131		939
Commercial mortgage and other loans		1,092		228
Other invested assets		23,045		14,379
Short term investments, allowance for credit losses		5,728		1,975
Cash equivalents		4,005		6,796
Other assets		0		0
Separate account assets		250,623		240,433
Assets		717,764		674,474
Future policy benefits		0		0
Policyholders' account balances		0		0
Other liabilities		17,828		7,495
Notes issued by consolidated VIEs		0		0
Total liabilities		17,828		7,495
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, Fair Value		40,298		35,554
Assets supporting experience-rated contractholder liabilities		212		185
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, Fair Value		12,807		11,493
Assets supporting experience-rated contractholder liabilities		231		212
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, Fair Value		110,233		119,032
Assets supporting experience-rated contractholder liabilities		926		790
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, Fair Value		113,486		97,959
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, Fair Value		38,689		34,749
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, Fair Value		29,384		29,756
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, Fair Value		28,727		27,237
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		14,990		12,966
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, Fair Value		14,068		12,238
Assets supporting experience-rated contractholder liabilities		1,583		1,593
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, Fair Value		16,294		15,574
Assets supporting experience-rated contractholder liabilities		1,839		1,896
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, Fair Value		2,876		3,189
Assets supporting experience-rated contractholder liabilities		1,018		1,158
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		259		285
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		549		261
Fair Value, Measurements, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed Maturities, Available for Sale, Fair Value		6,043		4,315
Assets supporting experience-rated contractholder liabilities		635		730
Fixed maturities, trading		243		287
Equity securities, Fair Value		660		633
Commercial mortgage and other loans		0		0
Other invested assets		366		567
Short term investments, allowance for credit losses		177		155
Cash equivalents		1		131
Other assets		268		113
Separate account assets		1,821		1,717
Assets		10,214		8,648
Future policy benefits		18,879		12,831
Policyholders' account balances		1,914		1,316
Other liabilities		0		105
Notes issued by consolidated VIEs		0		800
Total liabilities		20,793		15,052
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, Fair Value		150		105
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, Fair Value		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, Fair Value		11		22
Assets supporting experience-rated contractholder liabilities		19		24
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, Fair Value		69		380
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, Fair Value		2,248		1,784
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, Fair Value		153		69
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, Fair Value		2,865		1,003
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		482		637
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, Fair Value		523		936
Assets supporting experience-rated contractholder liabilities		114		69
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, Fair Value		9		0
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, Fair Value		11		12
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		0
Prudential Netting Agreement | U.S. private corporate securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed Maturities, Available for Sale, Fair Value		5,966		4,751
Prudential Netting Agreement | 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, Fair Value		6,100		4,757
Other invested assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value investment measured at NAV per share		4,136		4,213
Separate account assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value investment measured at NAV per share		$ 23,007		$ 23,557
[1]	See Note 4 for details of balances associated with variable interest entities.
[2]	December 31, 2020 amounts include the impacts of the January 1, 2020 adoption of ASU 2016-13. See Note 2 for details.

Fair Value of Assets and Liab_4

Fair Value of Assets and Liabilities (Quantitative Info for Level 3 Inputs) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Future policy benefits	$ 306,343	$ 293,527
Fair Value, Measurements, Recurring
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Future policy benefits	18,879	12,831
Policyholders' account balances	$ 1,914	1,316
Level 3 | Minimum
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Fair Value Inputs, Policyholder Age	45 years
Level 3 | Minimum | Future policy benefits
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Mortality rate	0.00%
Level 3 | Maximum
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Fair Value Inputs, Policyholder Age	90 years
Level 3 | Fair Value, Measurements, Recurring
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Future policy benefits	$ 18,879	12,831
Policyholders' account balances	$ 1,914	$ 1,316
Level 3 | Internal | Minimum | Discounted cash flow | Future policy benefits
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Lapse rate	1.00%	1.00%
Spread over LIBOR	0.06%	0.10%
Utilization rate	39.00%	43.00%
Withdrawal rate (greater than maximum range)	76.00%	78.00%
Mortality rate	0.00%	0.00%
Equity volatility curve	18.00%	13.00%
Level 3 | Internal | Minimum | Discounted cash flow | Policyholders’ account balances
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Lapse rate	1.00%	1.00%
Spread over LIBOR	0.06%	0.10%
Mortality rate	0.00%	0.00%
Equity volatility curve	6.00%	6.00%
Level 3 | Internal | Minimum | Discounted cash flow | Corporate securities
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Discount rate	0.40%	0.49%
Level 3 | Internal | Minimum | Discounted cash flow | Equity securities
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Discount rate	0.50%	10.00%
Level 3 | Internal | Minimum | Discounted cash flow | Separate accounts commercial mortgage loan
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Spread	1.60%	1.11%
Level 3 | Internal | Minimum | Market comparables | Corporate securities
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
EBITDA multiples	7	5.7
Level 3 | Internal | Minimum | Market comparables | Equity securities
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
EBITDA multiples	1	1
Level 3 | Internal | Minimum | Liquidation | Corporate securities
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Liquidation value	12.13%	14.25%
Level 3 | Internal | Minimum | Net asset value | Equity securities
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Share price	1	5
Level 3 | Internal | Maximum | Discounted cash flow | Future policy benefits
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Lapse rate	20.00%	18.00%
Spread over LIBOR	1.17%	1.23%
Utilization rate	96.00%	97.00%
Withdrawal rate (greater than maximum range)	100.00%	100.00%
Mortality rate	15.00%	15.00%
Equity volatility curve	26.00%	23.00%
Level 3 | Internal | Maximum | Discounted cash flow | Policyholders’ account balances
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Lapse rate	42.00%	42.00%
Spread over LIBOR	1.17%	1.23%
Mortality rate	24.00%	24.00%
Equity volatility curve	42.00%	25.00%
Level 3 | Internal | Maximum | Discounted cash flow | Corporate securities
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Discount rate	25.00%	20.00%
Level 3 | Internal | Maximum | Discounted cash flow | Equity securities
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Discount rate	20.00%	30.00%
Level 3 | Internal | Maximum | Discounted cash flow | Separate accounts commercial mortgage loan
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Spread	2.98%	1.85%
Level 3 | Internal | Maximum | Market comparables | Corporate securities
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
EBITDA multiples	15	9.2
Level 3 | Internal | Maximum | Market comparables | Equity securities
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
EBITDA multiples	8.8	10.1
Level 3 | Internal | Maximum | Liquidation | Corporate securities
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Liquidation value	15.00%	83.61%
Level 3 | Internal | Maximum | Net asset value | Equity securities
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Share price	1,414	1,353
Level 3 | Internal | Weighted Average | Discounted cash flow | Corporate securities
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Discount rate	4.28%	7.41%
Level 3 | Internal | Weighted Average | Discounted cash flow | Separate accounts commercial mortgage loan
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Spread	1.80%	1.26%
Level 3 | Internal | Weighted Average | Market comparables | Corporate securities
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
EBITDA multiples	9	7.3
Level 3 | Internal | Weighted Average | Market comparables | Equity securities
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
EBITDA multiples	3.3	5.4
Level 3 | Internal | Weighted Average | Liquidation | Corporate securities
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Liquidation value	13.02%	59.47%
Level 3 | Internal | Weighted Average | Net asset value | Equity securities
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Share price	495	451
Level 3 | Internal | Fair Value, Measurements, Recurring | Future policy benefits
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Future policy benefits	$ 18,879	$ 12,831
Level 3 | Internal | Fair Value, Measurements, Recurring | Policyholders’ account balances
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Policyholders' account balances	1,914	1,316
Level 3 | Internal | Fair Value, Measurements, Recurring | Corporate securities
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Corporate securities	3,697	1,424
Level 3 | Internal | Fair Value, Measurements, Recurring | Equity securities
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Equity securities	195	210
Level 3 | Internal | Fair Value, Measurements, Recurring | Separate accounts commercial mortgage loan
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Commercial mortgage loans	$ 775	$ 796

Fair Value of Assets and Liab_5

Fair Value of Assets and Liabilities (Changes in Level 3 Assets and Liabilities) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Equity securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, beginning of period	$ 633	$ 671
Purchases	59	79
Sales	(50)	(52)
Issuances	0	0
Settlements	(6)	(85)
Other	11	1
Transfers into Level 3	0	1
Transfers out of Level 3	(1)	(24)
Fair Value, end of period	660	633	$ 671
Total gains (losses) (realized/unrealized):
Included in earnings	14	42
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	11	34
Equity securities | Realized investment gains (losses), net
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0	0
Equity securities | Other Income
Total gains (losses) (realized/unrealized):
Included in earnings	14	42	(6)
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	11	34	(19)
Equity securities | Interest credited to policyholders' account balances
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0	0
Equity securities | Included in other comprehensive income (loss)
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0
Equity securities | Net investment income
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0
Assets supporting experience-rated contractholder liabilities | Realized investment gains (losses), net
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0	0
Assets supporting experience-rated contractholder liabilities | Other Income
Total gains (losses) (realized/unrealized):
Included in earnings	(22)	(4)	(39)
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	(22)	(5)	(38)
Assets supporting experience-rated contractholder liabilities | Interest credited to policyholders' account balances
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0	0
Assets supporting experience-rated contractholder liabilities | Included in other comprehensive income (loss)
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0
Assets supporting experience-rated contractholder liabilities | Net investment income
Total gains (losses) (realized/unrealized):
Included in earnings	4	9	8
Assets supporting experience-rated contractholder liabilities | Foreign government bonds
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, beginning of period	24	225
Purchases	0	0
Sales	0	0
Issuances	0	0
Settlements	(5)	(5)
Other	0	(196)
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Fair Value, end of period	19	24	225
Total gains (losses) (realized/unrealized):
Included in earnings	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0
Assets supporting experience-rated contractholder liabilities | Corporate securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, beginning of period	637	444
Purchases	6	146
Sales	(9)	0
Issuances	0	0
Settlements	(182)	(189)
Other	(19)	196
Transfers into Level 3	99	46
Transfers out of Level 3	(33)	(10)
Fair Value, end of period	482	637	444
Total gains (losses) (realized/unrealized):
Included in earnings	(17)	4
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	(25)	(6)
Assets supporting experience-rated contractholder liabilities | Structured securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, beginning of period	69	149
Purchases	191	29
Sales	0	0
Issuances	0	0
Settlements	(33)	(35)
Other	0	0
Transfers into Level 3	1	0
Transfers out of Level 3	(113)	(74)
Fair Value, end of period	114	69	149
Total gains (losses) (realized/unrealized):
Included in earnings	(1)	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	3	0
Assets supporting experience-rated contractholder liabilities | Equity securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, beginning of period	0	1
Purchases	0	0
Sales	0	(2)
Issuances	0	0
Settlements	0	0
Other	0	0
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Fair Value, end of period	0	0	1
Total gains (losses) (realized/unrealized):
Included in earnings	0	1
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	1
Assets supporting experience-rated contractholder liabilities | All other activity
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, beginning of period	0	0
Purchases	134	8
Sales	0	0
Issuances	0	0
Settlements	(5)	(8)
Other	(2)	0
Transfers into Level 3	0	0
Transfers out of Level 3	(107)	0
Fair Value, end of period	20	0	0
Total gains (losses) (realized/unrealized):
Included in earnings	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0
Other invested assets
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, beginning of period	567	263
Purchases	209	341
Sales	0	0
Issuances	4	0
Settlements	(5)	(42)
Other	(415)	(6)
Transfers into Level 3	8	0
Transfers out of Level 3	(9)	0
Fair Value, end of period	366	567	263
Total gains (losses) (realized/unrealized):
Included in earnings	7	11
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	7	(1)
Other invested assets | Realized investment gains (losses), net
Total gains (losses) (realized/unrealized):
Included in earnings	0	(1)	4
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	(1)	2
Other invested assets | Other Income
Total gains (losses) (realized/unrealized):
Included in earnings	7	12	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	7	0	1
Other invested assets | Interest credited to policyholders' account balances
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0	0
Other invested assets | Included in other comprehensive income (loss)
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0
Other invested assets | Net investment income
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0
Short-term Investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, beginning of period	155	89
Purchases	327	597
Sales	0	0
Issuances	0	0
Settlements	(115)	(526)
Other	(48)	(5)
Transfers into Level 3	0	0
Transfers out of Level 3	(143)	0
Fair Value, end of period	177	155	89
Total gains (losses) (realized/unrealized):
Included in earnings	1	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	(1)	0
Short-term Investments | Realized investment gains (losses), net
Total gains (losses) (realized/unrealized):
Included in earnings	1	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	(1)	0	(1)
Short-term Investments | Other Income
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0	0
Short-term Investments | Interest credited to policyholders' account balances
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0	0
Short-term Investments | Included in other comprehensive income (loss)
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0
Short-term Investments | Net investment income
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0
Cash equivalents
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, beginning of period	131	77
Purchases	0	131
Sales	0	0
Issuances	0	0
Settlements	0	(77)
Other	(130)	0
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Fair Value, end of period	1	131	77
Total gains (losses) (realized/unrealized):
Included in earnings	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0
Cash equivalents | Realized investment gains (losses), net
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	(1)
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0	0
Cash equivalents | Other Income
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0	0
Cash equivalents | Interest credited to policyholders' account balances
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0	0
Cash equivalents | Included in other comprehensive income (loss)
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0
Cash equivalents | Net investment income
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0
Other assets
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, beginning of period	113	25
Purchases	69	44
Sales	0	0
Issuances	0	0
Settlements	(1)	0
Other	0	0
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Fair Value, end of period	268	113	25
Total gains (losses) (realized/unrealized):
Included in earnings	87	44
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	88	44
Other assets | Realized investment gains (losses), net
Total gains (losses) (realized/unrealized):
Included in earnings	87	44	(34)
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	88	44	(34)
Other assets | Other Income
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0	0
Other assets | Interest credited to policyholders' account balances
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0	0
Other assets | Included in other comprehensive income (loss)
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0
Other assets | Net investment income
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0
Separate accounts assets
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, beginning of period	1,717	1,534
Purchases	242	346
Sales	(71)	(111)
Issuances	0	0
Settlements	(84)	(144)
Other	0	0
Transfers into Level 3	43	55
Transfers out of Level 3	(169)	(147)
Fair Value, end of period	1,821	1,717	1,534
Total gains (losses) (realized/unrealized):
Included in earnings	143	184
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	157	170
Separate accounts assets | Realized investment gains (losses), net
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0	0
Separate accounts assets | Other Income
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0	0
Separate accounts assets | Interest credited to policyholders' account balances
Total gains (losses) (realized/unrealized):
Included in earnings	143	180	(66)
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	157	170	(52)
Separate accounts assets | Included in other comprehensive income (loss)
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0
Separate accounts assets | Net investment income
Total gains (losses) (realized/unrealized):
Included in earnings	0	4	2
Future policy benefits
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, beginning of period	(12,831)	(8,926)
Purchases	0	0
Sales	0	0
Issuances	(1,304)	(1,221)
Settlements	0	0
Other	93	1
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Fair Value, end of period	(18,879)	(12,831)	(8,926)
Total gains (losses) (realized/unrealized):
Included in earnings	(4,837)	(2,685)
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	(5,263)	(2,999)
Future policy benefits | Realized investment gains (losses), net
Total gains (losses) (realized/unrealized):
Included in earnings	(4,837)	(2,685)	947
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	(5,263)	(2,999)	611
Future policy benefits | Other Income
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0	0
Future policy benefits | Interest credited to policyholders' account balances
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0	0
Future policy benefits | Included in other comprehensive income (loss)
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0
Future policy benefits | Net investment income
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0
Policyholders’ account balances
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, beginning of period	(1,316)	(56)
Purchases	0	0
Sales	0	0
Issuances	(370)	(324)
Settlements	0	0
Other	0	(3)
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Fair Value, end of period	(1,914)	(1,316)	(56)
Total gains (losses) (realized/unrealized):
Included in earnings	(228)	(933)
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	(155)	(917)
Policyholders’ account balances | Realized investment gains (losses), net
Total gains (losses) (realized/unrealized):
Included in earnings	(228)	(933)	30
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	(155)	(917)	30
Policyholders’ account balances | Other Income
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0	0
Policyholders’ account balances | Interest credited to policyholders' account balances
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0	0
Policyholders’ account balances | Included in other comprehensive income (loss)
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0
Policyholders’ account balances | Net investment income
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0
Other liabilities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, beginning of period	(105)	0
Purchases	0	0
Sales	0	0
Issuances	0	(100)
Settlements	0	0
Other	0	0
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Fair Value, end of period	0	(105)	0
Total gains (losses) (realized/unrealized):
Included in earnings	105	(5)
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	105	(5)
Other liabilities | Realized investment gains (losses), net
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	2
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0	3
Other liabilities | Other Income
Total gains (losses) (realized/unrealized):
Included in earnings	105	(5)	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	105	(5)	0
Other liabilities | Interest credited to policyholders' account balances
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0	0
Other liabilities | Included in other comprehensive income (loss)
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0
Other liabilities | Net investment income
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0
Notes issued by consolidated VIEs
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, beginning of period	(800)	(595)
Purchases	0	0
Sales	0	0
Issuances	0	(858)
Settlements	0	638
Other	775	0
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Fair Value, end of period	0	(800)	(595)
Total gains (losses) (realized/unrealized):
Included in earnings	25	15
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	25	15
Notes issued by consolidated VIEs | Realized investment gains (losses), net
Total gains (losses) (realized/unrealized):
Included in earnings	0	15	14
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	15	14
Notes issued by consolidated VIEs | Other Income
Total gains (losses) (realized/unrealized):
Included in earnings	25	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	25	0	0
Notes issued by consolidated VIEs | Interest credited to policyholders' account balances
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0	0
Notes issued by consolidated VIEs | Included in other comprehensive income (loss)
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0
Notes issued by consolidated VIEs | Net investment income
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0
Available-for-sale | Fixed Maturities | Realized investment gains (losses), net
Total gains (losses) (realized/unrealized):
Included in earnings	(111)	(67)	(29)
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	(139)	(98)	(60)
Available-for-sale | Fixed Maturities | Other Income
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0	0
Available-for-sale | Fixed Maturities | Interest credited to policyholders' account balances
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0	0
Available-for-sale | Fixed Maturities | Included in other comprehensive income (loss)
Total gains (losses) (realized/unrealized):
Included in earnings	368	86	(141)
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	331
Available-for-sale | Fixed Maturities | Net investment income
Total gains (losses) (realized/unrealized):
Included in earnings	9	18	17
Available-for-sale | Fixed Maturities | U.S. government
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, beginning of period	105	81
Purchases	45	24
Sales	0	0
Issuances	0	0
Settlements	0	0
Other	0	0
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Fair Value, end of period	150	105	81
Total gains (losses) (realized/unrealized):
Included in earnings	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0
Available-for-sale | Fixed Maturities | U.S. states
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, beginning of period	4	5
Purchases	0	0
Sales	0	0
Issuances	0	0
Settlements	0	(1)
Other	0	0
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Fair Value, end of period	4	4	5
Total gains (losses) (realized/unrealized):
Included in earnings	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0
Available-for-sale | Fixed Maturities | Foreign government bonds
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, beginning of period	22	125
Purchases	0	0
Sales	0	0
Issuances	0	0
Settlements	0	0
Other	0	(1)
Transfers into Level 3	1	10
Transfers out of Level 3	(12)	(112)
Fair Value, end of period	11	22	125
Total gains (losses) (realized/unrealized):
Included in earnings	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	(2)
Available-for-sale | Fixed Maturities | Corporate securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, beginning of period	3,236	2,685
Purchases	1,144	1,462
Sales	(127)	(47)
Issuances	0	0
Settlements	(1,021)	(1,137)
Other	(16)	10
Transfers into Level 3	2,178	353
Transfers out of Level 3	(333)	(87)
Fair Value, end of period	5,335	3,236	2,685
Total gains (losses) (realized/unrealized):
Included in earnings	274	(3)
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	203	(96)
Available-for-sale | Fixed Maturities | Structured securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, beginning of period	948	1,339
Purchases	685	952
Sales	(18)	(67)
Issuances	0	0
Settlements	(547)	(507)
Other	156	(4)
Transfers into Level 3	178	755
Transfers out of Level 3	(851)	(1,560)
Fair Value, end of period	543	948	1,339
Total gains (losses) (realized/unrealized):
Included in earnings	(8)	40
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	(11)	0
Trading | Fixed Maturities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, beginning of period	287	206
Purchases	33	105
Sales	(33)	(31)
Issuances	0	0
Settlements	0	0
Other	9	(7)
Transfers into Level 3	19	41
Transfers out of Level 3	(48)	(1)
Fair Value, end of period	243	287	206
Total gains (losses) (realized/unrealized):
Included in earnings	(24)	(26)
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	(24)	(27)
Trading | Fixed Maturities | Realized investment gains (losses), net
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0	0
Trading | Fixed Maturities | Other Income
Total gains (losses) (realized/unrealized):
Included in earnings	(25)	(27)	5
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	(24)	(27)	8
Trading | Fixed Maturities | Interest credited to policyholders' account balances
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0	0
Trading | Fixed Maturities | Included in other comprehensive income (loss)
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0
Trading | Fixed Maturities | Net investment income
Total gains (losses) (realized/unrealized):
Included in earnings	$ 1	$ 1	$ 1

Fair Value of Assets and Liab_6

Fair Value of Assets and Liabilities (Derivative Assets and Liabilities Measured at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total derivative assets	$ 1,906	$ 867
Netting	(21,367)	(13,519)
Total derivative liabilities	792	831
Netting	(17,475)	(6,705)
Interest Rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total derivative assets	19,190	11,243
Total derivative liabilities	13,508	5,214
Currency
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total derivative assets	832	230
Total derivative liabilities	763	271
Credit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total derivative assets	63	21
Total derivative liabilities	28	0
Currency/Interest Rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total derivative assets	1,415	2,207
Total derivative liabilities	1,638	647
Equity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total derivative assets	1,773	685
Total derivative liabilities	2,330	1,404
Commodity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total derivative assets	0	0
Total derivative liabilities	0	0
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total derivative assets	227	6
Total derivative liabilities	30	41
Level 1 | Interest Rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total derivative assets	99	4
Total derivative liabilities	5	38
Level 1 | Currency
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total derivative assets	0	0
Total derivative liabilities	0	0
Level 1 | Credit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total derivative assets	0	0
Total derivative liabilities	0	0
Level 1 | Currency/Interest Rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total derivative assets	0	0
Total derivative liabilities	0	0
Level 1 | Equity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total derivative assets	128	2
Total derivative liabilities	25	3
Level 1 | Commodity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total derivative assets	0	0
Total derivative liabilities	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total derivative assets	23,046	14,379
Total derivative liabilities	18,237	7,495
Level 2 | Interest Rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total derivative assets	19,091	11,238
Total derivative liabilities	13,503	5,176
Level 2 | Currency
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total derivative assets	832	230
Total derivative liabilities	763	271
Level 2 | Credit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total derivative assets	63	21
Total derivative liabilities	28	0
Level 2 | Currency/Interest Rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total derivative assets	1,415	2,207
Total derivative liabilities	1,638	647
Level 2 | Equity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total derivative assets	1,645	683
Total derivative liabilities	2,305	1,401
Level 2 | Commodity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total derivative assets	0	0
Total derivative liabilities	0	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total derivative assets	0	1
Total derivative liabilities	0	0
Level 3 | Interest Rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total derivative assets	0	1
Total derivative liabilities	0	0
Level 3 | Currency
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total derivative assets	0	0
Total derivative liabilities	0	0
Level 3 | Credit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total derivative assets	0	0
Total derivative liabilities	0	0
Level 3 | Currency/Interest Rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total derivative assets	0	0
Total derivative liabilities	0	0
Level 3 | Equity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total derivative assets	0	0
Total derivative liabilities	0	0
Level 3 | Commodity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total derivative assets	0	0
Total derivative liabilities	0	0
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Netting	$ (3,892)	$ (6,814)

Fair Value of Assets and Liab_7

Fair Value of Assets and Liabilities (Changes in Level 3 Derivative Assets and Liabilities) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Equity
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Fair Value, beginning of period	$ 0	$ 0	$ 10
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	1
Purchases	0	0	0
Sales	0	0	0
Issuances	0	0	0
Settlements	0	0	0
Other	0	0	(11)
Transfers into Level 3	0	0	0
Transfers out of Level 3	0	0	0
Fair Value, end of period	0	0	0
Unrealized gains (losses) for assets still held:
Included in earnings	0	0	0
Interest Rate
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Fair Value, beginning of period	1	2	(3)
Total gains (losses) (realized/unrealized):
Included in earnings	(1)	(1)	5
Purchases	0	0	0
Sales	0	0	0
Issuances	0	0	0
Settlements	0	0	0
Other	0	0	0
Transfers into Level 3	0	0	0
Transfers out of Level 3	0	0	0
Fair Value, end of period	0	1	2
Unrealized gains (losses) for assets still held:
Included in earnings	$ 0	$ (2)	$ 5

Fair Value of Assets and Liab_8

Fair Value of Assets and Liabilities (Nonrecurring Fair Value Measurements) (Details) - Fair Value, Measurements, Nonrecurring - Level 3 - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Commercial mortgage loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Realized investment gains (losses) net	$ 0	$ 2	$ (12)
Carrying value after measurement as of period end	0	15
Mortgage servicing rights
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Realized investment gains (losses) net	(25)	11	10
Carrying value after measurement as of period end	307	87
Investment real estate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Realized investment gains (losses) net	(24)	0	$ 0
Carrying value after measurement as of period end	$ 31	$ 0

Fair Value of Assets and Liab_9

Fair Value of Assets and Liabilities (Changes in Fair Values Recorded in Earnings for FVO Assets-Liabilities (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2020		Dec. 31, 2019	Dec. 31, 2018
Fair Value, Option, Quantitative Disclosures [Line Items]
Interest expense		$ 1,574		$ 1,550	$ 1,420
Commercial mortgage and other loans	[2]	65,425	[1]	63,559
Other assets	[2]	22,801	[1]	20,832
Commercial mortgage and other loans
Fair Value, Option, Quantitative Disclosures [Line Items]
Interest income		17		20	18
Fair value option loans in non-accrual status		0
Fair value option loans in more than 90 days past due and still accruing		0
Notes issued by consolidated VIEs
Fair Value, Option, Quantitative Disclosures [Line Items]
Changes in fair value		(25)		(15)	(14)
Interest expense		32		45	$ 36
Fair value option
Fair Value, Option, Quantitative Disclosures [Line Items]
Commercial mortgage and other loans		1,092		228
Other assets		10		10
Notes issued by consolidated VIEs		0		800
Fair value option, aggregate contractual principal
Fair Value, Option, Quantitative Disclosures [Line Items]
Commercial mortgage and other loans		1,073		224
Notes issued by consolidated VIEs		$ 0		$ 857
[1]	December 31, 2020 amounts include the impacts of the January 1, 2020 adoption of ASU 2016-13. See Note 2 for details.
[2]	See Note 4 for details of balances associated with variable interest entities.

Fair Value of Assets and Lia_10

Fair Value of Assets and Liabilities (Financial Instruments where Carrying Amounts and Fair Values May Differ) (Details) - USD ($) $ in Millions		Dec. 31, 2020		Dec. 31, 2019		Dec. 31, 2018
Assets:
Fixed maturities, held-to-maturity	[2]	$ 1,930	[1]	$ 1,933
Assets supporting experience-rated contractholder liabilities	[2]	24,115		21,597
Commercial mortgage and other loans	[2]	65,425	[1]	63,559
Policy loans		11,271		12,096
Other invested assets	[2]	18,125	[1]	15,606
Short-term investments (2020-net of $1 allowance for credit losses)		7,800		5,467
Cash and cash equivalents		13,701	[2]	16,327	[2]	$ 15,353
Accrued investment income	[2]	3,193		3,330
Liabilities:
Securities sold under agreements to repurchase		10,894	[1]	9,681
Cash collateral for loaned securities		3,499		4,213
Short-term debt		925	[1]	1,933
Long-term debt		19,718		18,646
Fair Value
Assets:
Fixed maturities, held-to-maturity		2,298		2,302
Assets supporting experience-rated contractholder liabilities		39		16
Commercial mortgage and other loans		67,584		65,665
Policy loans		11,271		12,096
Other invested assets		153		36
Short-term investments (2020-net of $1 allowance for credit losses)		1,490		1,531
Cash and cash equivalents		8,219		7,321
Accrued investment income		3,193		3,330
Other assets		3,520		3,316
Total assets		97,767		95,613
Liabilities:
Policyholders’ account balances—investment contracts		110,473		102,156
Securities sold under agreements to repurchase		10,894		9,681
Cash collateral for loaned securities		3,499		4,213
Short-term debt		940		1,953
Long-term debt		23,468		21,324
Notes issued by consolidated VIEs		305		474
Other liabilities		7,674		6,982
Separate account liabilities-investment contracts		109,677		101,541
Total liabilities		266,930		248,324
Carrying Amount
Assets:
Fixed maturities, held-to-maturity		1,930		1,933
Assets supporting experience-rated contractholder liabilities		39		16
Commercial mortgage and other loans		64,333		63,331
Policy loans		11,271		12,096
Other invested assets		153		36
Short-term investments (2020-net of $1 allowance for credit losses)		1,490		1,531
Cash and cash equivalents		8,219		7,321
Accrued investment income		3,193		3,330
Other assets		3,517		3,315
Total assets		94,145		92,909
Liabilities:
Policyholders’ account balances—investment contracts		107,526		101,241
Securities sold under agreements to repurchase		10,894		9,681
Cash collateral for loaned securities		3,499		4,213
Short-term debt		925		1,933
Long-term debt		19,718		18,646
Notes issued by consolidated VIEs		305		474
Other liabilities		7,674		6,982
Separate account liabilities-investment contracts		109,677		101,541
Total liabilities		260,218		244,711
Level 1 | Fair Value
Assets:
Fixed maturities, held-to-maturity		0		0
Assets supporting experience-rated contractholder liabilities		39		16
Commercial mortgage and other loans		0		0
Policy loans		0		0
Other invested assets		0		0
Short-term investments (2020-net of $1 allowance for credit losses)		1,464		1,492
Cash and cash equivalents		7,951		6,278
Accrued investment income		0		0
Other assets		154		147
Total assets		9,608		7,933
Liabilities:
Policyholders’ account balances—investment contracts		0		0
Securities sold under agreements to repurchase		0		0
Cash collateral for loaned securities		0		0
Short-term debt		0		0
Long-term debt		644		1,950
Notes issued by consolidated VIEs		0		0
Other liabilities		0		0
Separate account liabilities-investment contracts		0		0
Total liabilities		644		1,950
Level 2 | Fair Value
Assets:
Fixed maturities, held-to-maturity		2,209		2,217
Assets supporting experience-rated contractholder liabilities		0		0
Commercial mortgage and other loans		107		107
Policy loans		0		0
Other invested assets		153		36
Short-term investments (2020-net of $1 allowance for credit losses)		26		39
Cash and cash equivalents		268		1,043
Accrued investment income		3,193		3,330
Other assets		2,917		2,526
Total assets		8,873		9,298
Liabilities:
Policyholders’ account balances—investment contracts		36,820		32,940
Securities sold under agreements to repurchase		10,894		9,681
Cash collateral for loaned securities		3,499		4,213
Short-term debt		794		1,748
Long-term debt		21,685		18,188
Notes issued by consolidated VIEs		0		0
Other liabilities		7,626		6,403
Separate account liabilities-investment contracts		86,046		77,134
Total liabilities		167,364		150,307
Level 3 | Fair Value
Assets:
Fixed maturities, held-to-maturity		89		85
Assets supporting experience-rated contractholder liabilities		0		0
Commercial mortgage and other loans		67,477		65,558
Policy loans		11,271		12,096
Other invested assets		0		0
Short-term investments (2020-net of $1 allowance for credit losses)		0		0
Cash and cash equivalents		0		0
Accrued investment income		0		0
Other assets		449		643
Total assets		79,286		78,382
Liabilities:
Policyholders’ account balances—investment contracts		73,653		69,216
Securities sold under agreements to repurchase		0		0
Cash collateral for loaned securities		0		0
Short-term debt		146		205
Long-term debt		1,139		1,186
Notes issued by consolidated VIEs		305		474
Other liabilities		48		579
Separate account liabilities-investment contracts		23,631		24,407
Total liabilities		98,922		96,067
Prudential Netting Agreement | Fair Value
Assets:
Fixed maturities, held-to-maturity		5,821		5,401
Liabilities:
Long-term debt		11,921		10,158
Prudential Netting Agreement | Carrying Amount
Assets:
Fixed maturities, held-to-maturity		4,998		4,998
Liabilities:
Long-term debt		$ 10,964		$ 9,749
[1]	December 31, 2020 amounts include the impacts of the January 1, 2020 adoption of ASU 2016-13. See Note 2 for details.
[2]	See Note 4 for details of balances associated with variable interest entities.

Deferred Policy Acquisition C_3

Deferred Policy Acquisition Costs (Balance of and Changes in DAC) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020		Dec. 31, 2019	Dec. 31, 2018
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance, beginning of period	$ 19,912		$ 20,058	$ 18,992
Capitalization of commissions, sales and issue expenses	2,763		2,966	2,870
Amortization—Impact of assumption and experience unlocking and true-ups	(36)		(164)	(217)
Amortization—All other	(2,185)		(2,168)	(2,056)
Change due to unrealized investment gains and losses	(379)		(713)	519
Foreign currency translation	142		(8)	(32)
Other	(1,190)		(59)	(18)
Balance, end of period	19,027	[1]	19,912	20,058
Sale of the Company's subsidiary	$ (1,193)		(46)	(38)
Reclassification of ceded DAC to third party reinsurer			$ (14)
Impact of the elimination of Gibraltar Life's one-month reporting lag				$ 20
[1]	December 31, 2020 amounts include the impacts of the January 1, 2020 adoption of ASU 2016-13. See Note 2 for details.

Value of Business Acquired (Bal

Value of Business Acquired (Balance of and Changes in VOBA) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Movement Analysis of Value of Business Acquired [Roll Forward]
Balance, beginning of period	$ 1,110	$ 1,850	$ 1,591
Amortization—Impact of assumption and experience unlocking and true-ups	(317)	(139)	0
Amortization—All other	(212)	(235)	(276)
Change due to unrealized investment gains and losses	418	(478)	455
Interest	56	64	69
Foreign currency translation	48	10	23
Other	0	38	(12)
Balance, end of period	1,103	$ 1,110	$ 1,850
CIGNA
Movement Analysis of Value of Business Acquired [Roll Forward]
Balance, end of period	219
Prudential Annuities Holding Co.
Movement Analysis of Value of Business Acquired [Roll Forward]
Balance, end of period	29
Gibraltar Life
Movement Analysis of Value of Business Acquired [Roll Forward]
Balance, end of period	852
Gibraltar BSN Life Berhad
Movement Analysis of Value of Business Acquired [Roll Forward]
Balance, end of period	$ 3

Value of Business Acquired (Est

Value of Business Acquired (Estimated Future VOBA Amortization, Net of Interest) (Details) $ in Millions	Dec. 31, 2020USD ($)
Present Value of Future Insurance Profits [Abstract]
Estimated future VOBA amortization - 2021	$ 99
Estimated future VOBA amortization - 2022	93
Estimated future VOBA amortization - 2023	85
Estimated future VOBA amortization - 2024	79
Estimated future VOBA amortization - 2025	$ 72

Investments in Operating Join_3

Investments in Operating Joint Ventures (Investments in Operating Joint Ventures) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Equity Method Investments and Joint Ventures [Abstract]
Investment in operating joint ventures	$ 1,394	$ 1,309	$ 1,329
Dividends received from operating joint ventures	60	70	93
After-tax equity in earnings of operating joint ventures	$ 96	$ 100	$ 76

Investments in Operating Join_4

Investments in Operating Joint Ventures (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Schedule of Equity Method Investments [Line Items]
Investment in operating joint ventures	$ 1,394	$ 1,309	$ 1,329
Asset management fee income
Schedule of Equity Method Investments [Line Items]
Investment in operating joint ventures	$ 30	$ 29	$ 32

Goodwill and Other Intangible_2

Goodwill and Other Intangibles (Changes in the Book Value of Goodwill by Segment) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Goodwill [Roll Forward]
Goodwill balance, Beginning of the year	$ 3,013	$ 863	$ 843
Acquisitions		2,150	22
Effect of foreign currency translation		0	(2)
Effect of foreign currency translation and other	22
Goodwill balance, End of the year	3,035	3,013	863
PGIM
Goodwill [Roll Forward]
Goodwill balance, Beginning of the year	254	233	235
Acquisitions		22	0
Effect of foreign currency translation		(1)	(2)
Effect of foreign currency translation and other	4
Goodwill balance, End of the year	258	254	233
Retirement
Goodwill [Roll Forward]
Goodwill balance, Beginning of the year	455	455	444
Acquisitions		0	11
Effect of foreign currency translation		0	0
Effect of foreign currency translation and other	0
Goodwill balance, End of the year	455	455	455
Assurance IQ
Goodwill [Roll Forward]
Goodwill balance, Beginning of the year	2,128	0	0
Acquisitions		2,128	0
Effect of foreign currency translation		0	0
Effect of foreign currency translation and other	12
Goodwill balance, End of the year	2,140	2,128	0
International Businesses
Goodwill [Roll Forward]
Goodwill balance, Beginning of the year	165	164	164
Acquisitions		0	0
Effect of foreign currency translation		1	0
Effect of foreign currency translation and other	(21)
Goodwill balance, End of the year	144	165	164
Other
Goodwill [Roll Forward]
Goodwill balance, Beginning of the year	11	11	0
Acquisitions		0	11
Effect of foreign currency translation		0	0
Effect of foreign currency translation and other	27
Goodwill balance, End of the year	$ 38	$ 11	$ 11

Goodwill and Other Intangible_3

Goodwill and Other Intangibles (Other Intangibles) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Finite and Indefinite-Lived Intangible Assets [Line Items]
Not subject to amortization	$ 69	$ 69
Total	580	600
Mortgage servicing rights
Finite and Indefinite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	819	745
Accumulated Amortization	(512)	(468)
Net Carrying Amount	307	277
Customer relationships
Finite and Indefinite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	247	244
Accumulated Amortization	(175)	(153)
Net Carrying Amount	72	91
Software and other
Finite and Indefinite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	192	201
Accumulated Amortization	(60)	(38)
Net Carrying Amount	$ 132	$ 163

Goodwill and Other Intangible_4

Goodwill and Other Intangibles (Goodwill Narrative) (Details)	12 Months Ended
	Dec. 31, 2020
Assurance IQ
Goodwill [Line Items]
Goodwill fair value exceeding carrying value	10.00%
Other Reporting Units
Goodwill [Line Items]
Goodwill fair value exceeding carrying value	229.00%

Goodwill and Other Intangible_5

Goodwill and Other Intangibles (Other Intangibles Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Finite and Indefinite-Lived Intangible Assets [Line Items]
Amortization expense for other intangibles	$ 102	$ 65	$ 61
Mortgage servicing rights
Finite and Indefinite-Lived Intangible Assets [Line Items]
Net Carrying Amount	307	277
Mortgage servicing rights | Fair Value
Finite and Indefinite-Lived Intangible Assets [Line Items]
Net Carrying Amount	$ 309	$ 287

Goodwill and Other Intangible_6

Goodwill and Other Intangibles (Future Amortization Expense) (Details) $ in Millions	Dec. 31, 2020USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Estimated future amortization expense - 2021	$ 101
Estimated future amortization expense - 2022	93
Estimated future amortization expense - 2023	76
Estimated future amortization expense - 2024	46
Estimated future amortization expense - 2025	$ 38

Leases (Narrative) (Details)

Leases (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Lessee, Lease, Description [Line Items]
Leases with options to extend	15 years
Leases with options to terminate	8 years
Operating lease costs	$ 156	$ 138
Short-term lease costs	104	101
Net investment income
Income and Expenses, Lessor [Abstract]
Lease Income	$ 161	$ 182
Less than
Lessee, Lease, Description [Line Items]
Remaining lease terms	1 year
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease terms	28 years

Leases (Lessee Right-of-Use Ass

Leases (Lessee Right-of-Use Assets and Lease Liabilities) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Right-of-use assets	$ 466	$ 554
Lease liabilities	$ 511	$ 594
Weighted average remaining lease term	6 years	6 years
Weighted average discount rate	2.22%	2.46%
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	us-gaap:OtherAssets	us-gaap:OtherAssets
Operating Lease, Liability, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilities	us-gaap:OtherLiabilities

Leases (Maturities of Operating

Leases (Maturities of Operating Lease Liabilities) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
2021	$ 156
2022	121
2023	81
2024	72
2025	46
Thereafter	80
Total lease payments	556
Less imputed interest	(45)
Total	$ 511	$ 594

Policyholders' Liabilities (Fut

Policyholders' Liabilities (Future Policy Benefits) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Liability for Future Policy Benefits and Unpaid Claims and Claims Adjustment Expense [Abstract]
Life insurance	$ 195,245	$ 191,654
Individual and group annuities and supplementary contracts	77,254	75,940
Other contract liabilities	30,873	23,052
Subtotal future policy benefits excluding unpaid claims and claim settlement expenses	303,372	290,646
Unpaid claims and claim settlement expenses	2,971	2,881
Total future policy benefits	$ 306,343	$ 293,527

Policyholders' Liabilities (Nar

Policyholders' Liabilities (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Liability for Future Policy Benefit, by Product Segment [Line Items]
Policyholders’ account balances	$ 161,682	$ 152,110
FANIP maximum authorized amount	$ 2,000
Minimum
Liability for Future Policy Benefit, by Product Segment [Line Items]
Unpaid claims and claim settlement expenses interest rate	1.80%
Maximum
Liability for Future Policy Benefit, by Product Segment [Line Items]
Unpaid claims and claim settlement expenses interest rate	6.40%
Individual participating life insurance
Liability for Future Policy Benefit, by Product Segment [Line Items]
Participating policies direct in force	3.00%	2.00%
Participating policies direct premiums	10.00%	11.00%	12.00%
Individual participating life insurance | Minimum
Liability for Future Policy Benefit, by Product Segment [Line Items]
Liabilities for future policy benefits, interest rate	2.50%
Individual participating life insurance | Maximum
Liability for Future Policy Benefit, by Product Segment [Line Items]
Liabilities for future policy benefits, interest rate	7.50%
Individual nonparticipating life insurance | Minimum
Liability for Future Policy Benefit, by Product Segment [Line Items]
Liabilities for future policy benefits, interest rate	(0.10%)
Individual nonparticipating life insurance | Maximum
Liability for Future Policy Benefit, by Product Segment [Line Items]
Liabilities for future policy benefits, interest rate	7.80%
Individual and group annuities and supplementary contracts
Liability for Future Policy Benefit, by Product Segment [Line Items]
Percentage of reserves based on interest rates in excess of 8 Percent (less than)	1.00%
Individual and group annuities and supplementary contracts | Minimum
Liability for Future Policy Benefit, by Product Segment [Line Items]
Liabilities for future policy benefits, interest rate	(0.20%)
Individual and group annuities and supplementary contracts | Maximum
Liability for Future Policy Benefit, by Product Segment [Line Items]
Liabilities for future policy benefits, interest rate	12.10%
Other contract liabilities | Minimum
Liability for Future Policy Benefit, by Product Segment [Line Items]
Liabilities for future policy benefits, interest rate	0.20%
Other contract liabilities | Maximum
Liability for Future Policy Benefit, by Product Segment [Line Items]
Liabilities for future policy benefits, interest rate	6.50%
Funding agreements
Liability for Future Policy Benefit, by Product Segment [Line Items]
Policyholders’ account balances	$ 6,938	$ 4,119
Interest-sensitive life contracts
Liability for Future Policy Benefit, by Product Segment [Line Items]
Policyholders’ account balances	$ 41,711	40,364
Interest-sensitive life contracts | Minimum
Liability for Future Policy Benefit, by Product Segment [Line Items]
Liability for policyholder contract deposits, interest rate	0.00%
Interest-sensitive life contracts | Maximum
Liability for Future Policy Benefit, by Product Segment [Line Items]
Liability for policyholder contract deposits, interest rate	6.30%
Other than interest-sensitive life contracts
Liability for Future Policy Benefit, by Product Segment [Line Items]
Less than 1% of policyholders' account balances have interest crediting rates in excess of 8%	1.00%
Other than interest-sensitive life contracts | Minimum
Liability for Future Policy Benefit, by Product Segment [Line Items]
Liability for policyholder contract deposits, interest rate	0.00%
Other than interest-sensitive life contracts | Maximum
Liability for Future Policy Benefit, by Product Segment [Line Items]
Liability for policyholder contract deposits, interest rate	13.30%
Delaware Statutory Trust | Funding agreements | Prudential Insurance
Liability for Future Policy Benefit, by Product Segment [Line Items]
Policyholders’ account balances	$ 4,402	4,104
Medium-term Notes, at amortized cost	2,414	2,414
Commercial Paper	$ 1,991	1,697
Delaware Statutory Trust | Funding agreements | Minimum | Prudential Insurance
Liability for Future Policy Benefit, by Product Segment [Line Items]
Liability for policyholder contract deposits, interest rate	0.00%
Weighted average maturity of outstanding commercial paper, in days	2 months
Delaware Statutory Trust | Funding agreements | Maximum | Prudential Insurance
Liability for Future Policy Benefit, by Product Segment [Line Items]
Liability for policyholder contract deposits, interest rate	3.50%
Weighted average maturity of outstanding commercial paper, in days	5 years
Medium-term notes | Delaware Statutory Trust | Funding agreements | Prudential Insurance
Liability for Future Policy Benefit, by Product Segment [Line Items]
FANIP maximum authorized amount	$ 15,000
Commercial Paper | Delaware Statutory Trust | Funding agreements | Prudential Insurance
Liability for Future Policy Benefit, by Product Segment [Line Items]
FANIP maximum authorized amount	$ 3,000
Federal Home Loan Bank of New York | Funding agreements | Minimum
Liability for Future Policy Benefit, by Product Segment [Line Items]
Liability for policyholder contract deposits, interest rate	0.60%
Federal Home Loan Bank of New York | Funding agreements | Maximum
Liability for Future Policy Benefit, by Product Segment [Line Items]
Liability for policyholder contract deposits, interest rate	1.90%
Federal Home Loan Bank of New York | Medium-term notes | Funding agreements
Liability for Future Policy Benefit, by Product Segment [Line Items]
Funding agreement issued to FHLBNY	$ 2,522	$ 0

Policyholders' Liabilities (Pol

Policyholders' Liabilities (Policyholders' Account Balances) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Liability for Policyholders' Account Balance, by Product Segment [Line Items]
Total policyholders’ account balances	$ 161,682	$ 152,110
Individual annuities
Liability for Policyholders' Account Balance, by Product Segment [Line Items]
Total policyholders’ account balances	47,663	44,391
Group annuities
Liability for Policyholders' Account Balance, by Product Segment [Line Items]
Total policyholders’ account balances	30,700	27,843
Guaranteed investment contracts and guaranteed interest accounts
Liability for Policyholders' Account Balance, by Product Segment [Line Items]
Total policyholders’ account balances	14,071	13,759
Funding agreements
Liability for Policyholders' Account Balance, by Product Segment [Line Items]
Total policyholders’ account balances	6,938	4,119
Interest-sensitive life contracts
Liability for Policyholders' Account Balance, by Product Segment [Line Items]
Total policyholders’ account balances	41,711	40,364
Dividend accumulation and other deposit type funds
Liability for Policyholders' Account Balance, by Product Segment [Line Items]
Total policyholders’ account balances	$ 20,599	$ 21,634

Certain Long-Duration Contrac_3

Certain Long-Duration Contracts with Guarantees (Variable Annuity, Variable Life, Variable Universal Life and Universal Life Contracts) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Annuity Contracts | Return of net deposits | In the Event of Death
Net Amount at Risk by Product and Guarantee [Line Items]
Account value	$ 133,726	$ 130,893
Net amount at risk	$ 214	$ 244
Average attained age of contractholders	68 years	67 years
Annuity Contracts | Return of net deposits | At Annuitization / Accumulation
Net Amount at Risk by Product and Guarantee [Line Items]
Account value	$ 17	$ 16
Net amount at risk	$ 0	$ 0
Average attained age of contractholders	75 years	75 years
Annuity Contracts | Minimum return or contract value | In the Event of Death
Net Amount at Risk by Product and Guarantee [Line Items]
Account value	$ 31,157	$ 32,609
Net amount at risk	$ 2,327	$ 2,626
Average attained age of contractholders	70 years	69 years
Annuity Contracts | Minimum return or contract value | At Annuitization / Accumulation
Net Amount at Risk by Product and Guarantee [Line Items]
Account value	$ 148,841	$ 147,511
Net amount at risk	$ 4,203	$ 4,578
Average attained age of contractholders	68 years	68 years
Average period remaining until earliest expected annuitization	2 months 12 days	2 months 1 day
Variable Life, Variable Universal Life and Universal Life Contracts | In the Event of Death
Net Amount at Risk by Product and Guarantee [Line Items]
Separate account value	$ 8,939	$ 9,983
General account value	19,279	18,225
Net amount at risk	$ 222,703	$ 245,929
Average attained age of contractholders	55 years	55 years

Certain Long-Duration Contrac_4

Certain Long-Duration Contracts With Guarantees (Separate Account Investment Options) (Details) - Annuity Contracts - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Fair Value, Separate Account Investment [Line Items]
Separate Account Investment Options	$ 159,975	$ 158,206
Equity funds
Fair Value, Separate Account Investment [Line Items]
Separate Account Investment Options	94,270	93,010
Bond funds
Fair Value, Separate Account Investment [Line Items]
Separate Account Investment Options	62,549	60,074
Balanced funds
Fair Value, Separate Account Investment [Line Items]
Separate Account Investment Options	0	1,592
Money market funds
Fair Value, Separate Account Investment [Line Items]
Separate Account Investment Options	$ 3,156	$ 3,530

Certain Long-Duration Contrac_5

Certain Long-Duration Contracts with Guarantees (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Annuity Contracts | Market Value Adjusted
Net Amount at Risk by Product and Guarantee [Line Items]
General Account Investment Option	$ 7,729	$ 7,781

Certain Long-Duration Contrac_6

Certain Long-Duration Contracts with Guarantees (Liabilities for Guarantee Benefits) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
GMDB | Variable Life, Variable Universal Life and Universal Life Contracts
Movement in Liabilities for Guarantees on Long-Duration Contracts, Guaranteed Benefit Liability, Gross [Roll Forward]
Beginning balance	$ 7,602	$ 5,418	$ 5,110
Incurred guarantee benefits	1,389	1,492	791
Paid guarantee benefits	(126)	(111)	(77)
Change in unrealized investment gains and losses	721	805	(406)
Other	(77)	(2)	0
Ending balance	9,509	7,602	5,418
GMDB | Annuity Contracts
Movement in Liabilities for Guarantees on Long-Duration Contracts, Guaranteed Benefit Liability, Gross [Roll Forward]
Beginning balance	753	713	697
Incurred guarantee benefits	162	82	125
Paid guarantee benefits	(89)	(69)	(88)
Change in unrealized investment gains and losses	38	27	(20)
Other	(1)	0	(1)
Ending balance	863	753	713
GMIB | Annuity Contracts
Movement in Liabilities for Guarantees on Long-Duration Contracts, Guaranteed Benefit Liability, Gross [Roll Forward]
Beginning balance	355	378	419
Incurred guarantee benefits	12	(8)	(14)
Paid guarantee benefits	(4)	(4)	(5)
Change in unrealized investment gains and losses	(8)	(15)	(20)
Other	13	4	(2)
Ending balance	368	355	378
GMAB/GMWB/GMIWB | Annuity Contracts
Movement in Liabilities for Guarantees on Long-Duration Contracts, Guaranteed Benefit Liability, Gross [Roll Forward]
Beginning balance	12,831	8,927	8,721
Incurred guarantee benefits	6,103	3,905	206
Paid guarantee benefits	0	0	0
Change in unrealized investment gains and losses	0	0	0
Other	(53)	(1)	0
Ending balance	$ 18,881	$ 12,831	$ 8,927

Certain Long-Duration Contrac_7

Certain Long-Duration Contracts with Guarantees (Sales Inducements) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Movement in Deferred Sales Inducements [Roll Forward]
Beginning balance	$ 935	$ 1,024	$ 1,168
Capitalization	1	1	3
Amortization—Impact of assumption and experience unlocking and true-ups	104	108	(6)
Amortization—All other	(166)	(163)	(166)
Change in unrealized investment gains and losses	(54)	(35)	25
Ending balance	$ 820	$ 935	$ 1,024

Reinsurance (Narrative) (Detail

Reinsurance (Narrative) (Details) $ in Millions	Apr. 01, 2015	Jan. 02, 2013USD ($)policy	Dec. 31, 2016USD ($)	Dec. 31, 2013USD ($)	Dec. 31, 2012USD ($)	Dec. 31, 2020company
Effects of Reinsurance [Line Items]
Number of major reinsurance companies | company						4
Reinsurance recoverable percentage of the major reinsurance companies						59.00%
Domestic Business, per Life
Effects of Reinsurance [Line Items]
Reinsurance retention policy, amount retained				$ 20	$ 30
Hartford Life Business
Effects of Reinsurance [Line Items]
Reinsurance retention policy, amount retained		$ 141,000
Business acquisition number of life insurance policies acquired reinsurance | policy		700,000
Quote Share Reinsurance | Union Hamilton
Effects of Reinsurance [Line Items]
Reinsurance retention policy, reinsured risk percentage	50.00%
Reinsurance retention policy, amount retained			$ 2,900

Reinsurance (Reinsurance Amount

Reinsurance (Reinsurance Amounts Included in the Consolidated Statements of Operations) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Reinsurance Disclosures [Abstract]
Direct premiums	$ 29,091	$ 33,260	$ 35,048
Reinsurance assumed	4,336	3,022	2,574
Reinsurance ceded	(2,287)	(2,080)	(1,843)
Premiums	31,140	34,202	35,779
Direct policy charges and fee income	5,341	5,252	5,245
Reinsurance assumed	1,192	1,181	1,189
Reinsurance ceded	(504)	(455)	(432)
Policy charges and fee income	6,029	5,978	6,002
Direct policyholders’ benefits	32,514	35,601	38,079
Reinsurance assumed	5,659	4,304	3,659
Reinsurance ceded	(3,114)	(3,085)	(2,334)
Policyholders’ benefits	$ 35,059	$ 36,820	$ 39,404

Reinsurance (Reinsurance Recove

Reinsurance (Reinsurance Recoverables) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Effects of Reinsurance [Line Items]
Total reinsurance recoverables	$ 7,354	$ 6,626
Reinsurance recoverables net of loss allowance	(5)
Individual and group annuities
Effects of Reinsurance [Line Items]
Total reinsurance recoverables	273	688
Life insurance
Effects of Reinsurance [Line Items]
Total reinsurance recoverables	6,649	5,535
Other reinsurance
Effects of Reinsurance [Line Items]
Total reinsurance recoverables	432	403
CIGNA | Individual and group annuities
Effects of Reinsurance [Line Items]
Total reinsurance recoverables	27	553
Hartford Life Business | Life insurance
Effects of Reinsurance [Line Items]
Total reinsurance recoverables	2,245	2,105
Reinsurance payables	1,362	1,290
Union Hamilton | Individual and group annuities
Effects of Reinsurance [Line Items]
Total reinsurance recoverables	$ 204	$ 95

Closed Block (Narrative) (Detai

Closed Block (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Policyholders’ dividend obligation	$ 8,787	$ 6,149	$ 3,150
Dividend Declared
Increase (decrease) in liability	147	79	$ 86
Excess Of Actual Cumulative Earnings Over Expected Cumulative Earnings
Policyholders’ dividend obligation	2,920	2,816
Net Unrealized Gains (Losses) on Investments
Policyholders’ dividend obligation	$ 5,867	$ 3,332

Closed Block (Closed Block Liab

Closed Block (Closed Block Liabilities and Assets Designated to Closed Block; Maximum Future Earnings to be Recognized) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Closed Block liabilities
Future policy benefits	$ 46,762	$ 47,613
Policyholders’ dividends payable	635	717
Policyholders’ dividend obligation	8,787	6,149	$ 3,150
Policyholders’ account balances	4,874	4,973
Other Closed Block liabilities	3,141	4,049
Total Closed Block liabilities	64,199	63,501
Closed Block assets
Fixed maturities, available-for-sale, at fair value	41,959	41,146
Fixed maturities, trading, at fair value	277	256
Equity securities, at fair value	2,345	2,245
Commercial mortgage and other loans	8,421	8,629
Policy loans	4,064	4,264
Other invested assets	3,610	3,333
Short-term investments	124	227
Total investments	60,800	60,100
Cash and cash equivalents	269	191
Accrued investment income	431	456
Other Closed Block assets	92	93
Total Closed Block assets	61,592	60,840
Excess of reported Closed Block liabilities over Closed Block assets	2,607	2,661
Portion of above representing accumulated other comprehensive income (loss):
Net unrealized investment gains (losses)	5,810	3,280
Allocated to policyholder dividend obligation	(5,867)	(3,332)
Future earnings to be recognized from Closed Block assets and Closed Block liabilities	$ 2,550	$ 2,609

Closed Block (Information Regar

Closed Block (Information Regarding Policyholder Dividend Obligation) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Movement in Closed Block Dividend Obligation [Roll Forward]
Balance, January 1	$ 6,149	$ 3,150
Impact from earnings allocable to policyholder dividend obligation	117	564
Change in net unrealized investment gains (losses) allocated to policyholder dividend obligation	2,534	2,435
Balance, December 31	8,787	6,149
ASU 2016-01
Movement in Closed Block Dividend Obligation [Roll Forward]
Cumulative-effect adjustment from the adoption of ASU 2016-01	$ (13)	$ 0

Closed Block (Closed Block Reve

Closed Block (Closed Block Revenues and Benefits and Expenses) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenues
Premiums	$ 1,981	$ 2,207	$ 2,301
Net investment income	2,255	2,332	2,298
Realized investment gains (losses), net	182	521	130
Other income (loss)	362	589	(39)
Total Closed Block revenues	4,780	5,649	4,690
Benefits and Expenses
Policyholders’ benefits	2,758	2,906	2,972
Interest credited to policyholders’ account balances	127	130	132
Dividends to policyholders	1,549	2,187	1,236
General and administrative expenses	327	351	364
Total Closed Block benefits and expenses	4,761	5,574	4,704
Closed Block revenues, net of Closed Block benefits and expenses, before income taxes	19	75	(14)
Income tax expense (benefit)	(43)	10	(78)
Closed Block revenues, net of Closed Block benefits and expenses and income taxes	$ 62	$ 65	$ 64

Income Taxes (Components of Inc

Income Taxes (Components of Income Tax Expense (Benefit)) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Current tax expense (benefit):
U.S.	$ (571)	$ 86	$ (346)
State and local	11	2	7
Foreign	848	879	681
Total current tax expense (benefit)	288	967	342
Deferred tax expense (benefit):
U.S.	(362)	57	80
State and local	1	(1)	1
Foreign	(8)	(76)	399
Total deferred tax expense (benefit)	(369)	(20)	480
Total income tax expense (benefit) on income (loss) before equity in earnings of operating joint ventures	(81)	947	822
Income tax expense (benefit) on equity in earnings of operating joint ventures	47	43	31
Income tax expense (benefit) on discontinued operations	0	0	0
Income tax expense (benefit) reported in equity related to:
Other comprehensive income (loss)	1,252	3,811	(1,812)
Stock-based compensation programs	0	0	0
Total income taxes	$ 1,218	$ 4,801	$ (959)

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Sep. 30, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Change in Accounting Estimate [Line Items]
Total income tax expense (benefit)		$ (81)	$ 947	$ 822
Effective tax rate		25.10%	18.60%	17.00%
U.S. federal income tax rate		21.00%			35.00%
Net Operating Loss Carryback		$ 149		$ 51
GILTI High tax exclusion benefit				4
U.S. federal income tax rate		21.00%			35.00%
DRD constituting non-taxable investment income		$ 109	$ 122	127
Non-taxable investment income		$ 228	270	250
Percent of income tax expense (benefit)		5.00%
Income (loss) from domestic operations		$ (3,226)	1,985	1,447
Income (loss) from foreign operations		2,903	3,101	3,387
Polish and Italian insurance operations
Change in Accounting Estimate [Line Items]
Total income tax expense (benefit)				10
Korea insurance operations
Change in Accounting Estimate [Line Items]
Total income tax expense (benefit)				14
Korea and Taiwan insurance operations
Change in Accounting Estimate [Line Items]
Total income tax expense (benefit)		132
U.S. Tax Cut and Jobs Act of 2017
Change in Accounting Estimate [Line Items]
Tax Cuts and Jobs Act, Incomplete Accounting, Provisional Income Tax Expense (Benefit)				153
Industry Issue Resolution
Change in Accounting Estimate [Line Items]
Tax adjustment impact	$ (198)
Brazil Full Inclusion
Change in Accounting Estimate [Line Items]
Tax adjustment impact		$ 24	$ (3)	$ (34)
Japan Statutory Tax Rate
Change in Accounting Estimate [Line Items]
Effective tax rate		28.00%
Brazil Statutory Tax Rate
Change in Accounting Estimate [Line Items]
Effective tax rate		40.00%		45.00%

Income Taxes (Reconciliation To

Income Taxes (Reconciliation To Effective Rate) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Expected federal income tax expense (benefit)	$ (68)	$ 1,068	$ 1,015
Non-taxable investment income	(228)	(270)	(250)
Foreign taxes at other than U.S. rate	252	234	347
Low-income housing and other tax credits	(112)	(118)	(112)
Changes in tax law	(194)	(2)	(321)
Sale of subsidiary	277	4	10
Non-controlling interest	(48)	(11)	0
Non-deductible expenses	14	23	33
Change in valuation allowance	17	(1)	(6)
State taxes	10	1	6
Other	(1)	19	100
Total income tax expense (benefit) on income (loss) before equity in earnings of operating joint ventures	$ (81)	$ 947	$ 822
Effective tax rate	25.10%	18.60%	17.00%

Income Taxes (Deferred Tax Asse

Income Taxes (Deferred Tax Assets and Liabilities) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Deferred tax assets:
Deferred Tax Assets Insurance Reserves	$ 1,926	$ 730
Policyholders’ dividends	1,901	1,365
Net operating and capital loss carryforwards	205	189
Employee benefits	929	973
Other	206	113
Deferred tax assets before valuation allowance	5,167	3,370
Valuation allowance	(143)	(136)	$ (117)	$ (214)
Deferred tax assets after valuation allowance	5,024	3,234
Deferred tax liabilities:
Net unrealized investment gains	13,841	11,109
Deferred policy acquisition costs	3,518	3,799
Deferred Tax Liabilities, Investments	19	138
Value of business acquired	270	262
Deferred tax liabilities	17,648	15,308
Net deferred tax liability	$ (12,624)	$ (12,074)

Income Taxes (Valuation Allowan

Income Taxes (Valuation Allowance on Deferred Tax Assets) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Valuation Allowance, Deferred Tax Asset [Roll Forward]
Balance, beginning of year	$ 136	$ 117	$ 214
Charged to costs and expenses	22	32	18
Other adjustments	(15)	(13)	(115)
Balance, ending of year	143	136	117
Federal
Valuation Allowance, Deferred Tax Asset [Roll Forward]
Balance, beginning of year	3	0	0
Charged to costs and expenses	12	3	0
Other adjustments	0	0	0
Balance, ending of year	15	3	0
State
Valuation Allowance, Deferred Tax Asset [Roll Forward]
Balance, beginning of year	127	106	196
Charged to costs and expenses	5	34	24
Other adjustments	(16)	(13)	(114)
Balance, ending of year	116	127	106
Foreign Operations
Valuation Allowance, Deferred Tax Asset [Roll Forward]
Balance, beginning of year	6	11	18
Charged to costs and expenses	5	(5)	(6)
Other adjustments	1	0	(1)
Balance, ending of year	$ 12	$ 6	$ 11

Income Taxes (Operating and Cap

Income Taxes (Operating and Capital Loss Carryforwards) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Federal
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	$ 231	$ 33
State and local
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	1,880	2,005
Foreign operations
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	136	203
Foreign operations | Operating loss expiring between 2018 and 2035
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	2
Foreign operations | Operating loss unlimited carryforward
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	54
Federal foreign
Operating Loss Carryforwards [Line Items]
Tax credit carryforwards	9	4
General business credits
Operating Loss Carryforwards [Line Items]
Tax credit carryforwards	$ 82	$ 0

Income Taxes (Undistributed Ear

Income Taxes (Undistributed Earnings) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Undistributed earnings of foreign subsidiaries	$ 176	$ 2,764	$ 2,475

Income Taxes (Unrecognized Tax

Income Taxes (Unrecognized Tax Benefits) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Amount	$ 18	$ 20	$ 45
Increases in unrecognized tax benefits—prior years	0	0	20
(Decreases) in unrecognized tax benefits—prior years	(1)	(2)	0
Increases in unrecognized tax benefits—current year	0	0	0
(Decreases) in unrecognized tax benefits—current year	0	0	0
Settlements with taxing authorities	0	0	(45)
Amount	17	18	20
Unrecognized tax benefits that, if recognized, would favorably impact the effective rate	$ 0	$ 0	$ 0

Income Taxes (Amounts Recognize

Income Taxes (Amounts Recognized for Tax Related Interest and Penalties) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Interest and penalties recognized in the Consolidated Statements of Operations	$ 1	$ 1	$ 1
Interest and penalties recognized in liabilities in the Consolidated Statements of Financial Position	$ 3	$ 2

Short-Term and Long-Term Debt_2

Short-Term and Long-Term Debt (Short-Term Debt) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020		Dec. 31, 2019
Short Term Debt [Line Items]
Short-term debt	$ 925	[1]	$ 1,933
Weighted average interest rate on outstanding short-term debt	0.11%		1.61%
Surplus notes subject to set-off arrangements
Short Term Debt [Line Items]
Long-term Debt, Current Maturities	$ 500		$ 0
Less: assets under set-off arrangements
Short Term Debt [Line Items]
Short-term debt	500		0
Commercial paper
Short Term Debt [Line Items]
Short-term debt	$ 380		$ 549
Weighted average maturity of outstanding commercial paper, in days	18 days		6 days
Senior notes
Short Term Debt [Line Items]
Short-term debt	$ 399		$ 1,179
Current portion of long-term debt
Short Term Debt [Line Items]
Short-term debt	1,027		1,371
Short-term Debt
Short Term Debt [Line Items]
Long-term Debt, Current Maturities	1,425		1,933
Borrowings due overnight | Commercial paper
Short Term Debt [Line Items]
Short-term debt	75		224
Daily average outstanding | Commercial paper
Short Term Debt [Line Items]
Short-term debt	1,602		1,702
Prudential Financial
Short Term Debt [Line Items]
Short-term debt	424		1,204
Prudential Financial | Commercial paper
Short Term Debt [Line Items]
Short-term debt	$ 25		$ 25
Weighted average interest rate on outstanding short-term debt	0.12%		1.71%
Prudential Financial | Current portion of long-term debt
Short Term Debt [Line Items]
Short-term debt	$ 399		$ 1,179
Prudential Funding, LLC | Commercial paper
Short Term Debt [Line Items]
Short-term debt	355		524
Mortgages
Short Term Debt [Line Items]
Short-term debt	128		192
Construction Loan Payable
Short Term Debt [Line Items]
Short-term debt	18
Line of Credit
Short Term Debt [Line Items]
Amount Outstanding	$ 18		$ 13
[1]	December 31, 2020 amounts include the impacts of the January 1, 2020 adoption of ASU 2016-13. See Note 2 for details.

Short-Term and Long-Term Debt_3

Short-Term and Long-Term Debt (Narrative) (Details) $ in Thousands, ¥ in Millions	1 Months Ended		12 Months Ended
	Aug. 31, 2018USD ($)	Nov. 30, 2013USD ($)	Dec. 31, 2020USD ($)Rate	Dec. 31, 2020JPY (¥)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2020JPY (¥)Rate	May 15, 2020USD ($)Rate	Feb. 18, 2015USD ($)
Debt Instrument [Line Items]
Long-term debt			$ 19,718,000		$ 18,646,000
Interest expense			1,574,000		1,550,000	$ 1,420,000
Capacity			2,000,000
Prudential Financial
Debt Instrument [Line Items]
Long-term debt			18,561,000		17,430,000
Interest expense			1,157,000		1,161,000	1,087,000
Minimum statutory consolidated net worth			$ 20,958,000
Prudential Insurance | Federal Home Loan Bank of New York
Debt Instrument [Line Items]
Purchase requirement activity-based stock of the outstanding borrowings			4.50%				4.50%
Debt Instrument, Term Upon Certain Events			90 days	90 days
Other long-term investments			$ 147,400		30,200
Pledge collateral of prior year-end statutory net admitted assets			5.00%				5.00%
Maximum amount of pledged asset			$ 7,300,000
Debt Issuance Costs, Net			3,600,000
Debt Instrument, Unused Borrowing Capacity, Amount			6,600,000
PRIAC | Federal Home Loan Bank of Boston
Debt Instrument [Line Items]
Other long-term investments			6,000		$ 6,000
Outstanding amount of notes			0
Debt Instrument, Unused Borrowing Capacity, Amount			265,000
Prudential Financial and Prudential Funding
Debt Instrument [Line Items]
Capacity			$ 4,000,000
Line of Credit Facility, Expiration Period			5 years	5 years
Proceeds from Lines of Credit			$ 0
Prudential Holdings of Japan
Debt Instrument [Line Items]
Capacity | ¥							¥ 100,000
Line of Credit Facility, Expiration Period			5 years	5 years
Proceeds from Lines of Credit | ¥				¥ 0
Other Subsidiaries
Debt Instrument [Line Items]
Capacity			$ 219,000
PLIC
Debt Instrument [Line Items]
Future Debt Instrument Authorized									$ 4,000,000
Minimum | Prudential Insurance | Federal Home Loan Bank of New York
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			0.62%				0.62%
Minimum | PRIAC | Federal Home Loan Bank of Boston
Debt Instrument [Line Items]
Purchase requirement activity-based stock of the outstanding borrowings			3.00%				3.00%
Maximum | Prudential Insurance | Federal Home Loan Bank of New York
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			1.925%				1.925%
Maximum | PRIAC | Federal Home Loan Bank of Boston
Debt Instrument [Line Items]
Purchase requirement activity-based stock of the outstanding borrowings			4.50%				4.50%
Commercial paper | Prudential Financial
Debt Instrument [Line Items]
Debt Instrument Authorized			$ 3,000,000
Commercial paper | Prudential Funding, LLC
Debt Instrument [Line Items]
Debt Instrument Authorized			7,000,000
Real estate separate accounts | Other Subsidiaries
Debt Instrument [Line Items]
Capacity			175,000
Proceeds from Lines of Credit			$ 31,000
Put Option | Prudential Financial
Debt Instrument [Line Items]
Term of contract		10 years
Debt Instrument, Interest Rate			1.777%				1.777%
Derivative, Time To Cure		30 days
Minimum Equity Less AOCI For Automatic Exercise			$ 7,000,000
Minimum Equity Less AOCI for Automatic Exercise			$ 9,000,000
Private Placement | Prudential Financial
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 1,500,000						$ 1,500,000
Debt Instrument, Interest Rate, Stated Percentage		4.419%						2.85%
Debt Instrument, Interest Rate | Rate								2.175%
Senior notes
Debt Instrument [Line Items]
Long-term Debt, Weighted Average Interest Rate, at Point in Time			4.45%		4.85%		4.45%
Medium-term Notes
Debt Instrument [Line Items]
Debt Instrument Authorized			$ 20,000,000
Increase (decrease) in debt			(300,000)
Maturities of Senior Debt	$ 1,200,000
Asset-backed securities
Debt Instrument [Line Items]
Assets Under Set Off Arrangements			500,000
Derivative Financial Instruments, Liabilities
Debt Instrument [Line Items]
Interest expense			2,000		$ 1,000	1,000
Current And Long Term Debt
Debt Instrument [Line Items]
Interest Expense, Debt			1,575,000		1,563,000	1,423,000
Junior subordinated debt | Prudential Financial
Debt Instrument [Line Items]
Long-term debt			$ 7,554,000		7,518,000
Junior subordinated debt | Minimum
Debt Instrument [Line Items]
Debt Instrument, Deferral Period			5 years	5 years
Junior subordinated debt | Minimum | Prudential Financial
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			3.70%				3.70%
Junior subordinated debt | Maximum
Debt Instrument [Line Items]
Debt Instrument, Deferral Period			10 years	10 years
Junior subordinated debt | Maximum | Prudential Financial
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			5.88%				5.88%
Limited Recourse Note
Debt Instrument [Line Items]
Debt Instrument, Face Amount			$ 500,000
Long-term Debt | Prudential Insurance | Federal Home Loan Bank of New York
Debt Instrument [Line Items]
Debt Issuance Costs, Net			2,500,000
Retail Medium Term Note
Debt Instrument [Line Items]
Debt Instrument Authorized			5,000,000
Outstanding amount of notes			270,000		302,000
Derivatives | Prudential Financial
Debt Instrument [Line Items]
Interest expense			400		300	$ 300
Fixed rate | Senior notes | Prudential Financial
Debt Instrument [Line Items]
Long-term debt			$ 11,007,000		9,912,000
Fixed rate | Senior notes | Minimum | Prudential Financial
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			1.50%				1.50%
Fixed rate | Senior notes | Maximum | Prudential Financial
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			6.75%				6.75%
Floating rate debt | Subordinated Debt | Prudential Financial
Debt Instrument [Line Items]
Long-term debt			$ 343,000
Subordinated Debt | Fixed rate
Debt Instrument [Line Items]
Long-term debt			$ 343,000		342,000
Subordinated Debt | Fixed rate | Minimum
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			8.30%				8.30%
Senior notes | Private Placement | Prudential Financial
Debt Instrument [Line Items]
Debt Instrument, Face Amount								$ 1,500,000
Senior notes | Investment Real Estate | Mortgages
Debt Instrument [Line Items]
Debt Instrument, Face Amount			$ 71,000
Debt Instrument, Translation Adjustment			2,000
Long-term Debt			409,000		537,000
Increase (decrease) in debt			128,000
Repayments of Senior Debt			200,000
Senior notes | Fixed rate
Debt Instrument [Line Items]
Long-term debt			$ 11,179,000		$ 10,084,000
Senior notes | Fixed rate | Minimum
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			1.50%				1.50%
Senior notes | Fixed rate | Maximum
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			6.75%				6.75%
Senior notes | Maturity in 2040 | Medium-term Notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount			$ 500,000
Debt Instrument, Interest Rate, Stated Percentage | Rate			3.00%				3.00%
Senior notes | Maturing in 2036 | Medium-term Notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount			$ 500,000
Debt Instrument, Interest Rate, Stated Percentage | Rate			1.50%				1.50%
Senior notes | Maturity in 2030 | Medium-term Notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount			$ 500,000
Debt Instrument, Interest Rate, Stated Percentage | Rate			2.10%				2.10%

Short-Term and Long-Term Debt_4

Short-Term and Long-Term Debt (Credit Facilities) (Details) - 12 months ended Dec. 31, 2020 ¥ in Millions, $ in Millions	USD ($)	JPY (¥)	JPY (¥)
CreditFacility [Line Items]
Capacity	$ 2,000
Prudential Financial and Prudential Funding
CreditFacility [Line Items]
Original Term	5 years	5 years
Capacity	$ 4,000
Amount Outstanding	$ 0
Prudential Holdings of Japan
CreditFacility [Line Items]
Original Term	5 years	5 years
Capacity | ¥			¥ 100,000
Amount Outstanding | ¥		¥ 0

Short-Term and Long-Term Debt_5

Short-Term and Long-Term Debt (Long-Term Debt) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Long-term debt	$ 19,718	$ 18,646
Surplus notes | Fixed-rate notes:
Debt Instrument [Line Items]
Long-term debt	343	342
Surplus notes subject to set-off arrangements | Fixed-rate notes:
Debt Instrument [Line Items]
Long-term debt	8,134	7,484
Surplus notes subject to set-off arrangements | Floating-rate notes:
Debt Instrument [Line Items]
Long-term debt	2,330	2,265
Senior notes | Fixed-rate notes:
Debt Instrument [Line Items]
Long-term debt	11,179	10,084
Mortgages | Fixed-rate notes:
Debt Instrument [Line Items]
Long-term debt	24	104
Mortgages | Floating-rate notes:
Debt Instrument [Line Items]
Long-term debt	257	241
Mortgages | Debt denominated in foreign currency | Fixed-rate notes:
Debt Instrument [Line Items]
Long-term debt	0	43
Mortgages | Debt denominated in foreign currency | Floating-rate notes:
Debt Instrument [Line Items]
Long-term debt	29	53
Junior subordinated debt
Debt Instrument [Line Items]
Long-term debt	7,615	7,575
Subtotal
Debt Instrument [Line Items]
Long-term debt	30,182	28,395
Less: assets under set-off arrangements
Debt Instrument [Line Items]
Long-term debt	10,464	9,749
Line of Credit | Floating-rate notes:
Debt Instrument [Line Items]
Long-term debt	300	300
Prudential Financial
Debt Instrument [Line Items]
Long-term debt	18,561	17,430
Prudential Financial | Surplus notes | Floating-rate notes:
Debt Instrument [Line Items]
Long-term debt	343
Prudential Financial | Senior notes | Fixed-rate notes:
Debt Instrument [Line Items]
Long-term debt	11,007	$ 9,912
Prudential Financial | Junior subordinated debt
Debt Instrument [Line Items]
Long-term debt	7,554
Subsidiaries | Junior subordinated debt
Debt Instrument [Line Items]
Long-term debt	$ 60
Minimum | Surplus notes | Fixed-rate notes:
Debt Instrument [Line Items]
Interest Rate	8.30%
Minimum | Surplus notes subject to set-off arrangements | Fixed-rate notes:
Debt Instrument [Line Items]
Interest Rate	2.23%
Minimum | Surplus notes subject to set-off arrangements | Floating-rate notes:
Debt Instrument [Line Items]
Interest Rate	1.61%
Minimum | Senior notes | Fixed-rate notes:
Debt Instrument [Line Items]
Interest Rate	1.50%
Minimum | Mortgages | Fixed-rate notes:
Debt Instrument [Line Items]
Interest Rate	3.85%
Minimum | Mortgages | Floating-rate notes:
Debt Instrument [Line Items]
Interest Rate	1.43%
Minimum | Junior subordinated debt
Debt Instrument [Line Items]
Interest Rate	1.55%
Minimum | Line of Credit | Fixed-rate notes:
Debt Instrument [Line Items]
Interest Rate	1.41%
Minimum | Prudential Financial | Senior notes | Fixed-rate notes:
Debt Instrument [Line Items]
Interest Rate	1.50%
Maximum | Surplus notes subject to set-off arrangements | Fixed-rate notes:
Debt Instrument [Line Items]
Interest Rate	5.26%
Maximum | Surplus notes subject to set-off arrangements | Floating-rate notes:
Debt Instrument [Line Items]
Interest Rate	3.50%
Maximum | Senior notes | Fixed-rate notes:
Debt Instrument [Line Items]
Interest Rate	6.75%
Maximum | Mortgages | Floating-rate notes:
Debt Instrument [Line Items]
Interest Rate	3.88%
Maximum | Junior subordinated debt
Debt Instrument [Line Items]
Interest Rate	5.88%
Maximum | Line of Credit | Fixed-rate notes:
Debt Instrument [Line Items]
Interest Rate	3.10%
Maximum | Prudential Financial | Senior notes | Fixed-rate notes:
Debt Instrument [Line Items]
Interest Rate	6.75%

Short-Term and Long-Term Debt_6

Short-Term and Long-Term Debt (Contractual Maturities for Long-Term Debt) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Debt Disclosure [Abstract]
2021	$ 136
2022	572
2023	724
2024	348
2025 and thereafter	17,938
Long-term debt	$ 19,718	$ 18,646

Short-Term and Long-Term Debt_7

Short-Term and Long-Term Debt (Senior Notes and Mortgage Debt) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Medium-term Notes
Debt Instrument [Line Items]
Debt, Long-term and Short-term, Combined Amount	$ 9,847	$ 9,508
Short-term Debt	400
Medium-term Notes | Senior notes
Debt Instrument [Line Items]
Debt, Long-term and Short-term, Combined Amount	11,988	11,802
Senior notes
Debt Instrument [Line Items]
Debt, Long-term and Short-term, Combined Amount	1,462	1,455
Retail Medium Term Note
Debt Instrument [Line Items]
Outstanding amount of notes	270	302
Mortgages | Investment Real Estate | Senior notes
Debt Instrument [Line Items]
Long-term Debt	409	$ 537
Short-term Debt	$ 128

Short-Term and Long-Term Debt_8

Short-Term and Long-Term Debt (Surplus Notes with Set-Off Arrangements) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Jun. 11, 2020	Dec. 31, 2019	Mar. 31, 2019	Feb. 18, 2015
Debt Instrument [Line Items]
Capacity	$ 2,000
Prudential Arizona Reinsurance Universal Company
Debt Instrument [Line Items]
Future Debt Instrument Authorized		$ 1,200
PLIC
Debt Instrument [Line Items]
Future Debt Instrument Authorized					$ 4,000
Surplus notes subject to set-off arrangements
Debt Instrument [Line Items]
Outstanding amount of notes	10,964		$ 9,749
Future Debt Instrument Authorized	16,450
Floating Rate Debt Surplus Notes Subject To Set Off Arrangement | Captive Reinsurance Subsidiary
Debt Instrument [Line Items]
Estimated maximum borrowing capacity, after taking into account applicable required collateralization levels and required purchases of activity based stock	400		100
Floating Rate Debt Surplus Notes Subject To Set Off Arrangement | Prudential Arizona Reinsurance Universal Company
Debt Instrument [Line Items]
Estimated maximum borrowing capacity, after taking into account applicable required collateralization levels and required purchases of activity based stock	700		0
Regulation XXX | Surplus notes | Captive Reinsurance Subsidiary
Debt Instrument [Line Items]
Debt Instrument Authorized	1,750
Outstanding amount of notes	2,330		2,265
Capacity	2,400
Regulation XXX | Surplus notes subject to set-off arrangements | Captive Reinsurance Subsidiary
Debt Instrument [Line Items]
Outstanding amount of notes	1,750		1,750
Regulation XXX | Floating Rate Debt Surplus Notes Subject To Set Off Arrangement | Captive Reinsurance Subsidiary
Debt Instrument [Line Items]
Debt Instrument Authorized				$ 1,600
Estimated maximum borrowing capacity, after taking into account applicable required collateralization levels and required purchases of activity based stock	1,070		920
Regulation XXX | Floating Rate Debt Surplus Notes Subject To Set Off Arrangement | Captive Reinsurance Subsidiary | Total Prudential Financial, Inc. Equity
Debt Instrument [Line Items]
Assets Under Set Off Arrangements	500
Guideline AXXX | Surplus notes subject to set-off arrangements
Debt Instrument [Line Items]
Future Debt Instrument Authorized	4,500
Guideline AXXX | Surplus notes subject to set-off arrangements | Captive Reinsurance Subsidiary
Debt Instrument [Line Items]
Outstanding amount of notes	3,248		3,248
Future Debt Instrument Authorized	3,500
Guideline AXXX | Floating Rate Debt Surplus Notes Subject To Set Off Arrangement | Captive Reinsurance Subsidiary
Debt Instrument [Line Items]
Estimated maximum borrowing capacity, after taking into account applicable required collateralization levels and required purchases of activity based stock	$ 1,466		$ 1,466

Short-Term and Long-Term Debt_9

Short-Term and Long-Term Debt (Schedule of Junior Subordinated Notes) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)
Junior Subordinated Institutional Notes August 2012
Debt Instrument [Line Items]
Principal Amount	$ 1,000
Interest Rate	5.88%
Interest Rate Subsequent to Optional Redemption Date	4.18%
Junior Subordinated Institutional Notes November 2012
Debt Instrument [Line Items]
Principal Amount	$ 1,500
Interest Rate	5.63%
Interest Rate Subsequent to Optional Redemption Date	3.92%
Junior Subordinated Retail Notes March 2013
Debt Instrument [Line Items]
Principal Amount	$ 500
Interest Rate	5.20%
Interest Rate Subsequent to Optional Redemption Date	3.04%
Junior Subordinated Institutional Notes September 2017
Debt Instrument [Line Items]
Principal Amount	$ 750
Interest Rate	4.50%
Interest Rate Subsequent to Optional Redemption Date	2.38%
Junior Subordinated Institutional Notes September 2018
Debt Instrument [Line Items]
Principal Amount	$ 1,000
Interest Rate	5.70%
Interest Rate Subsequent to Optional Redemption Date	2.67%
Junior Subordinated Retail Notes August 2020 4.13%
Debt Instrument [Line Items]
Principal Amount	$ 500
Interest Rate	4.13%
Junior Subordinated Institutional Notes August 2020 3.70%
Debt Instrument [Line Items]
Principal Amount	$ 800
Interest Rate	3.70%
Interest Rate Subsequent to Optional Redemption Date	3.04%
Junior Subordinated Retail Notes May 2015
Debt Instrument [Line Items]
Principal Amount	$ 1,000
Interest Rate	5.38%
Interest Rate Subsequent to Optional Redemption Date	3.03%
Junior Subordinated Institutional Notes August 2018
Debt Instrument [Line Items]
Principal Amount	$ 565
Interest Rate	5.63%

Employee Benefit Plans (Narrati

Employee Benefit Plans (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2015
Defined Benefit Plan Disclosure [Line Items]
Qualified Pension Plan	77.00%
Pension Benefit Percent Allocation Traditional	68.00%
Pension Benefit Percent Allocation Cash Balance	32.00%
Percentage of annual salary Contributed by the Company for employees (401(k) plans)	4.00%
General And Administrative Expense
Defined Benefit Plan Disclosure [Line Items]
Defined Contribution Plan, Cost	$ 82	$ 84	$ 89
Other liabilities
Defined Benefit Plan Disclosure [Line Items]
Net accumulated liability for non-retiree postemployment benefits provided to former or inactive employee	15	1
Rabbi Trust
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan Obligation	1,360	1,301
Fair value of plan assets	1,044	986
Rabbi Trust | Discontinued Operations
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan Obligation	77	76
Fair value of plan assets	111	106
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan Obligation	15,483	14,637	13,185
Fair value of plan assets	$ 14,897	$ 13,906	$ 12,807
Bond Yield rate used in determining Discount rate	2.55%	3.30%	4.30%	3.65%
Expected long-term rate of return on plan assets	5.75%	6.00%	6.50%	6.25%
Defined Benefit Plans Estimated Future Employer Contributions in Next Fiscal Year	$ 185
Postretirement
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan Obligation	2,040	$ 1,993	$ 1,876
Fair value of plan assets	$ 1,589	$ 1,557	$ 1,432
Bond Yield rate used in determining Discount rate	2.40%	3.25%	4.30%	3.60%
Expected long-term rate of return on plan assets	6.75%	6.75%	7.00%	7.00%
Defined Benefit Plans Estimated Future Employer Contributions in Next Fiscal Year	$ 10
Maximum
Defined Benefit Plan Disclosure [Line Items]
Bond Yield rate used in determining Discount rate	90.00%
Maximum | Postretirement
Defined Benefit Plan Disclosure [Line Items]
Deferred Compensation Arrangement with Individual, Requisite Age	55 years
Deferred Compensation Arrangement with Individual, Requisite Service Period	20 years
Minimum
Defined Benefit Plan Disclosure [Line Items]
Bond Yield rate used in determining Discount rate	10.00%
Minimum | Postretirement
Defined Benefit Plan Disclosure [Line Items]
Deferred Compensation Arrangement with Individual, Requisite Age	50 years
Deferred Compensation Arrangement with Individual, Requisite Service Period	10 years
Real Estate | Pension Benefits | LPs/LLCs
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 838	$ 688
Other | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2,561	2,285
Other | Pension Benefits | LPs/LLCs
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,234	973
Other | Pension Benefits | Hedge Fund
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 1,327	$ 1,312
Foreign plans
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan Weighted Average Asset Allocations	4.00%	5.00%
Foreign plans | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Pension benefits for foreign plans percentage of the ending benefit obligation	13.00%	14.00%

Employee Benefit Plans (Status

Employee Benefit Plans (Status of Prepaid Benefits Costs and Accrued Benefit Liabilities Included in Other Assets and Other Liabilities) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Pension Benefits
Change in benefit obligation
Benefit obligation at the beginning of period	$ (14,637)	$ (13,185)
Service cost	(321)	(291)	$ (314)
Interest cost	(429)	(489)	(448)
Plan participants’ contributions	0	0
Medicare Part D subsidy receipts	0	0
Amendments	0	0
Curtailments	16	0
Actuarial gains (losses), net(1)	(978)	(1,499)
Settlements	43	45
Special termination benefits	(7)	(26)
Benefits paid	878	831
Acquisition/Divestiture	46	0
Foreign currency changes and other	(94)	(23)
Benefit obligation at end of period	(15,483)	(14,637)	(13,185)
Change in plan assets
Plan assets at beginning of period	13,906	12,807
Actual return on plan assets	1,740	1,681
Employer contributions	200	280
Plan participants’ contributions	0	0
Disbursement for settlements	(43)	(45)
Benefits paid	(878)	(831)
Acquisition/Divestiture	(51)	0
Foreign currency changes and other	23	14
Plan assets at end of period	14,897	13,906	12,807
Funded status at end of period	(586)	(731)
Amounts recognized in the Statements of Financial Position
Prepaid benefit cost	2,426	2,204
Accrued benefit liability	(3,012)	(2,935)
Net amount recognized	(586)	(731)
Items recorded in “Accumulated other comprehensive income (loss)” not yet recognized as a component of net periodic (benefit) cost:
Prior service cost	(10)	(12)
Net actuarial loss	3,972	4,191
Net amount not recognized	3,962	4,179
Accumulated benefit obligation	(14,690)	(13,934)
Other Postretirement Benefits
Change in benefit obligation
Benefit obligation at the beginning of period	(1,993)	(1,876)
Service cost	(24)	(22)	(23)
Interest cost	(64)	(78)	(70)
Plan participants’ contributions	(22)	(21)
Medicare Part D subsidy receipts	(7)	(7)
Amendments	0	(27)
Curtailments	0	0
Actuarial gains (losses), net(1)	(101)	(124)
Settlements	0	0
Special termination benefits	0	(1)
Benefits paid	171	165
Acquisition/Divestiture	0	0
Foreign currency changes and other	0	(2)
Benefit obligation at end of period	(2,040)	(1,993)	(1,876)
Change in plan assets
Plan assets at beginning of period	1,557	1,432
Actual return on plan assets	171	264
Employer contributions	10	5
Plan participants’ contributions	22	21
Disbursement for settlements	0	0
Benefits paid	(171)	(165)
Acquisition/Divestiture	0	0
Foreign currency changes and other	0	0
Plan assets at end of period	1,589	1,557	$ 1,432
Funded status at end of period	(451)	(436)
Amounts recognized in the Statements of Financial Position
Prepaid benefit cost	0	0
Accrued benefit liability	(451)	(436)
Net amount recognized	(451)	(436)
Items recorded in “Accumulated other comprehensive income (loss)” not yet recognized as a component of net periodic (benefit) cost:
Prior service cost	59	65
Net actuarial loss	354	341
Net amount not recognized	413	406
Accumulated benefit obligation	$ (2,040)	$ (1,993)

Employee Benefit Plans (Informa

Employee Benefit Plans (Information for Pension Plans with a Projected and Accumulated Benefit Obligation in Excess of Plan Assets) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Defined Benefit Plan, Pension Plan with Project Benefit Obligation in Excess of Plan Assets [Abstract]
Projected benefit obligation	$ 3,012	$ 2,997
Fair value of plan assets	0	62
Information On Pension Plans With Accumulated Benefit Obligation In Excess Of Plan Assets [Abstract]
Accumulated benefit obligation	2,834	2,760
Fair value of plan assets	$ 0	$ 7

Employee Benefit Plans (Compone

Employee Benefit Plans (Components of Net Periodic Benefit Cost Included in General and Administrative Expenses) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 321	$ 291	$ 314
Interest cost	429	489	448
Expected return on plan assets	(804)	(816)	(817)
Amortization of prior service cost	(4)	(4)	(4)
Amortization of actuarial (gain) loss, net	262	217	213
Settlements	9	59	8
Special termination benefits	7	26	1
Net periodic (benefit) cost	220	262	163
Other Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	24	22	23
Interest cost	64	78	70
Expected return on plan assets	(100)	(95)	(108)
Amortization of prior service cost	6	4	1
Amortization of actuarial (gain) loss, net	16	24	17
Settlements	0	0	0
Special termination benefits	0	1	0
Net periodic (benefit) cost	$ 10	$ 34	$ 3

Employee Benefit Plans (Amounts

Employee Benefit Plans (Amounts Recorded in Accumulated Other Comprehensive Income not yet Recognized) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Pension Benefits
Pension And Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), Before Tax [Roll Forward]
Balance, beginning of year	$ 4,179
Amortization for the period	262	$ 217	$ 213
Deferrals for the period	(978)	(1,499)
Impact of foreign currency changes and other	94	23
Balance, end of period	3,962	4,179
Pension Benefits | Prior Service Cost
Pension And Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), Before Tax [Roll Forward]
Balance, beginning of year	(12)	(15)	(22)
Amortization for the period	4	4	4
Deferrals for the period	0	0	3
Impact of foreign currency changes and other	(2)	(1)	0
Balance, end of period	(10)	(12)	(15)
Pension Benefits | Net Actuarial (Gain) Loss
Pension And Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), Before Tax [Roll Forward]
Balance, beginning of year	4,191	3,829	3,611
Amortization for the period	(262)	(217)	(213)
Deferrals for the period	42	634	430
Impact of foreign currency changes and other	1	(55)	1
Balance, end of period	3,972	4,191	3,829
Other Postretirement Benefits
Pension And Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), Before Tax [Roll Forward]
Balance, beginning of year	406
Amortization for the period	16	24	17
Deferrals for the period	(101)	(124)
Impact of foreign currency changes and other	0	2
Balance, end of period	413	406
Other Postretirement Benefits | Prior Service Cost
Pension And Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), Before Tax [Roll Forward]
Balance, beginning of year	65	41	10
Amortization for the period	(6)	(4)	(1)
Deferrals for the period	0	27	32
Impact of foreign currency changes and other	0	1	0
Balance, end of period	59	65	41
Other Postretirement Benefits | Net Actuarial (Gain) Loss
Pension And Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), Before Tax [Roll Forward]
Balance, beginning of year	341	408	344
Amortization for the period	(16)	(24)	(17)
Deferrals for the period	30	(45)	82
Impact of foreign currency changes and other	(1)	2	(1)
Balance, end of period	$ 354	$ 341	$ 408

Employee Benefit Plans (Assumpt

Employee Benefit Plans (Assumptions Related to Calculation of Domestic Benefit Obligation (End of Period) and Determination of Net Periodic (Benefit) Cost (Beginning of Period)) (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2015
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Discount rate	2.55%	3.30%	4.30%		3.65%
Rate of increase in compensation levels	4.50%	4.50%	4.50%		4.50%
Expected return on plan assets	5.75%	6.00%	6.50%		6.25%
Interest Crediting Rate	4.25%	4.30%	4.30%	4.30%
Other Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Discount rate	2.40%	3.25%	4.30%		3.60%
Expected return on plan assets	6.75%	6.75%	7.00%		7.00%
Health care cost trend rates	6.25%	6.25%	6.00%	6.20%
Ultimate health care cost trend rate	4.50%	5.00%	5.00%	5.00%

Employee Benefit Plans (Asset A

Employee Benefit Plans (Asset Allocation Targets Reflecting a Percentage of Total Assets by Asset Class) (Details)	Dec. 31, 2020
Minimum | Pension Benefits | U.S. Equities
Defined Benefit Plan Disclosure [Line Items]
Asset allocation targets	2.00%
Minimum | Pension Benefits | International Equities
Defined Benefit Plan Disclosure [Line Items]
Asset allocation targets	2.00%
Minimum | Pension Benefits | Fixed Maturities
Defined Benefit Plan Disclosure [Line Items]
Asset allocation targets	54.00%
Minimum | Pension Benefits | Short-term Investments
Defined Benefit Plan Disclosure [Line Items]
Asset allocation targets	0.00%
Minimum | Pension Benefits | Real Estate
Defined Benefit Plan Disclosure [Line Items]
Asset allocation targets	2.00%
Minimum | Pension Benefits | Other
Defined Benefit Plan Disclosure [Line Items]
Asset allocation targets	4.00%
Minimum | Postretirement | U.S. Equities
Defined Benefit Plan Disclosure [Line Items]
Asset allocation targets	31.00%
Minimum | Postretirement | International Equities
Defined Benefit Plan Disclosure [Line Items]
Asset allocation targets	2.00%
Minimum | Postretirement | Fixed Maturities
Defined Benefit Plan Disclosure [Line Items]
Asset allocation targets	10.00%
Minimum | Postretirement | Short-term Investments
Defined Benefit Plan Disclosure [Line Items]
Asset allocation targets	0.00%
Minimum | Postretirement | Real Estate
Defined Benefit Plan Disclosure [Line Items]
Asset allocation targets	0.00%
Minimum | Postretirement | Other
Defined Benefit Plan Disclosure [Line Items]
Asset allocation targets	0.00%
Maximum | Pension Benefits | U.S. Equities
Defined Benefit Plan Disclosure [Line Items]
Asset allocation targets	8.00%
Maximum | Pension Benefits | International Equities
Defined Benefit Plan Disclosure [Line Items]
Asset allocation targets	9.00%
Maximum | Pension Benefits | Fixed Maturities
Defined Benefit Plan Disclosure [Line Items]
Asset allocation targets	67.00%
Maximum | Pension Benefits | Short-term Investments
Defined Benefit Plan Disclosure [Line Items]
Asset allocation targets	12.00%
Maximum | Pension Benefits | Real Estate
Defined Benefit Plan Disclosure [Line Items]
Asset allocation targets	16.00%
Maximum | Pension Benefits | Other
Defined Benefit Plan Disclosure [Line Items]
Asset allocation targets	27.00%
Maximum | Postretirement | U.S. Equities
Defined Benefit Plan Disclosure [Line Items]
Asset allocation targets	70.00%
Maximum | Postretirement | International Equities
Defined Benefit Plan Disclosure [Line Items]
Asset allocation targets	22.00%
Maximum | Postretirement | Fixed Maturities
Defined Benefit Plan Disclosure [Line Items]
Asset allocation targets	45.00%
Maximum | Postretirement | Short-term Investments
Defined Benefit Plan Disclosure [Line Items]
Asset allocation targets	31.00%
Maximum | Postretirement | Real Estate
Defined Benefit Plan Disclosure [Line Items]
Asset allocation targets	0.00%
Maximum | Postretirement | Other
Defined Benefit Plan Disclosure [Line Items]
Asset allocation targets	0.00%

Employee Benefit Plans (Pension

Employee Benefit Plans (Pension and Post Retirement Asset Allocations in Accordance with Investment Guidelines) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Notional	$ 445,049	$ 379,860
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Net Value of investment of securities lending collateral invested in short-term bond	586	135
Liability for securities lending collateral	586	135
Defined Benefit Plan, Plan Assets, Amount	14,897	13,906	$ 12,807
Postretirement
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	1,589	1,557	1,432
Investment Measure at Net Asset Value as a practical expedient | Postretirement
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	279	273
Equities | Postretirement
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	23	22
Equities | Level 1 | Postretirement
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Equities | Level 2 | Postretirement
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	23	22
Equities | Level 3 | Postretirement
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Fixed Maturities | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	7,213	6,712
Fixed Maturities | Postretirement
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	67	141
Fixed Maturities | Level 1 | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	129	44
Fixed Maturities | Level 1 | Postretirement
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	19	4
Fixed Maturities | Level 2 | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	7,049	6,624
Fixed Maturities | Level 2 | Postretirement
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	48	136
Fixed Maturities | Level 3 | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	35	44
Fixed Maturities | Level 3 | Postretirement
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	1
Other | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	2,561	2,285
Other | Level 1 | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Other | Level 2 | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Other | Level 3 | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	2,561	2,285
Net assets in the fair value hierarchy | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	10,612	9,685
Net assets in the fair value hierarchy | Postretirement
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	255	326
Net assets in the fair value hierarchy | Level 1 | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	129	44
Net assets in the fair value hierarchy | Level 1 | Postretirement
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	184	167
Net assets in the fair value hierarchy | Level 2 | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	7,049	6,624
Net assets in the fair value hierarchy | Level 2 | Postretirement
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	71	158
Net assets in the fair value hierarchy | Level 3 | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	3,434	3,017
Net assets in the fair value hierarchy | Level 3 | Postretirement
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	1
Variable Life Insurance Policies at contract value | Postretirement
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	1,055	958
Mortgage-backed | Fixed Maturities | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	1	1
Mortgage-backed | Fixed Maturities | Level 1 | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Mortgage-backed | Fixed Maturities | Level 2 | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	1	1
Mortgage-backed | Fixed Maturities | Level 3 | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
U.S. Equities | Equities | Postretirement
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	14	14
U.S. Equities | Equities | Level 1 | Postretirement
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
U.S. Equities | Equities | Level 2 | Postretirement
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	14	14
U.S. Equities | Equities | Level 3 | Postretirement
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
International Equities | Equities | Postretirement
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	9	8
International Equities | Equities | Level 1 | Postretirement
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
International Equities | Equities | Level 2 | Postretirement
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	9	8
International Equities | Equities | Level 3 | Postretirement
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Other U.S. government securities | Fixed Maturities | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	985	783
Other U.S. government securities | Fixed Maturities | Postretirement
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	9	20
Other U.S. government securities | Fixed Maturities | Level 1 | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Other U.S. government securities | Fixed Maturities | Level 1 | Postretirement
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Other U.S. government securities | Fixed Maturities | Level 2 | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	985	783
Other U.S. government securities | Fixed Maturities | Level 2 | Postretirement
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	9	20
Other U.S. government securities | Fixed Maturities | Level 3 | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Other U.S. government securities | Fixed Maturities | Level 3 | Postretirement
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
U.S. government securities (state & other) | Fixed Maturities | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	588	562
U.S. government securities (state & other) | Fixed Maturities | Level 1 | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
U.S. government securities (state & other) | Fixed Maturities | Level 2 | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	588	562
U.S. government securities (state & other) | Fixed Maturities | Level 3 | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Non-U.S. government securities | Fixed Maturities | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	103	93
Non-U.S. government securities | Fixed Maturities | Postretirement
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	1	2
Non-U.S. government securities | Fixed Maturities | Level 1 | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Non-U.S. government securities | Fixed Maturities | Level 1 | Postretirement
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Non-U.S. government securities | Fixed Maturities | Level 2 | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	103	93
Non-U.S. government securities | Fixed Maturities | Level 2 | Postretirement
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	1	2
Non-U.S. government securities | Fixed Maturities | Level 3 | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Non-U.S. government securities | Fixed Maturities | Level 3 | Postretirement
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Corporate bonds | Fixed Maturities | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	4,290	4,281
Corporate bonds | Fixed Maturities | Postretirement
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	7	53
Corporate bonds | Fixed Maturities | Level 1 | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Corporate bonds | Fixed Maturities | Level 1 | Postretirement
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Corporate bonds | Fixed Maturities | Level 2 | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	4,290	4,281
Corporate bonds | Fixed Maturities | Level 2 | Postretirement
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	7	53
Corporate bonds | Fixed Maturities | Level 3 | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Corporate bonds | Fixed Maturities | Level 3 | Postretirement
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Asset-backed | Fixed Maturities | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	25	22
Asset-backed | Fixed Maturities | Postretirement
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	2	16
Asset-backed | Fixed Maturities | Level 1 | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Asset-backed | Fixed Maturities | Level 1 | Postretirement
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Asset-backed | Fixed Maturities | Level 2 | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	25	22
Asset-backed | Fixed Maturities | Level 2 | Postretirement
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	2	16
Asset-backed | Fixed Maturities | Level 3 | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Asset-backed | Fixed Maturities | Level 3 | Postretirement
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Collateralized Mortgage Obligations | Fixed Maturities | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	614	485
Collateralized Mortgage Obligations | Fixed Maturities | Postretirement
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	3	10
Collateralized Mortgage Obligations | Fixed Maturities | Level 1 | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Collateralized Mortgage Obligations | Fixed Maturities | Level 1 | Postretirement
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Collateralized Mortgage Obligations | Fixed Maturities | Level 2 | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	614	485
Collateralized Mortgage Obligations | Fixed Maturities | Level 2 | Postretirement
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	3	10
Collateralized Mortgage Obligations | Fixed Maturities | Level 3 | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Collateralized Mortgage Obligations | Fixed Maturities | Level 3 | Postretirement
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Collateralized Loan Obligations | Fixed Maturities | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	441	397
Collateralized Loan Obligations | Fixed Maturities | Postretirement
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	4	15
Collateralized Loan Obligations | Fixed Maturities | Level 1 | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Collateralized Loan Obligations | Fixed Maturities | Level 1 | Postretirement
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Collateralized Loan Obligations | Fixed Maturities | Level 2 | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	441	397
Collateralized Loan Obligations | Fixed Maturities | Level 2 | Postretirement
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	4	15
Collateralized Loan Obligations | Fixed Maturities | Level 3 | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Collateralized Loan Obligations | Fixed Maturities | Level 3 | Postretirement
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Interest Rate Swaps | Fixed Maturities | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Notional	13	2,462
Defined Benefit Plan, Plan Assets, Amount	0	2
Interest Rate Swaps | Fixed Maturities | Level 1 | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Interest Rate Swaps | Fixed Maturities | Level 2 | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	2
Interest Rate Swaps | Fixed Maturities | Level 3 | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Registered investment companies | Fixed Maturities | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	96	7
Registered investment companies | Fixed Maturities | Postretirement
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	19	4
Registered investment companies | Fixed Maturities | Level 1 | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	96	7
Registered investment companies | Fixed Maturities | Level 1 | Postretirement
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	19	4
Registered investment companies | Fixed Maturities | Level 2 | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Registered investment companies | Fixed Maturities | Level 2 | Postretirement
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Registered investment companies | Fixed Maturities | Level 3 | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Registered investment companies | Fixed Maturities | Level 3 | Postretirement
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Registered investment companies | Short-term Investments | Postretirement
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	165	163
Registered investment companies | Short-term Investments | Level 1 | Postretirement
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	165	163
Registered investment companies | Short-term Investments | Level 2 | Postretirement
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Registered investment companies | Short-term Investments | Level 3 | Postretirement
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Other | Fixed Maturities | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	70	79
Other | Fixed Maturities | Postretirement
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	1
Other | Fixed Maturities | Level 1 | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	33	37
Other | Fixed Maturities | Level 1 | Postretirement
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Other | Fixed Maturities | Level 2 | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	2	(2)
Other | Fixed Maturities | Level 2 | Postretirement
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Other | Fixed Maturities | Level 3 | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	35	44
Other | Fixed Maturities | Level 3 | Postretirement
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	1
Equities | Fixed Maturities | Postretirement
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	22	20
Equities | Fixed Maturities | Level 1 | Postretirement
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Equities | Fixed Maturities | Level 2 | Postretirement
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	22	20
Equities | Fixed Maturities | Level 3 | Postretirement
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Unrealized gain (loss) on investment of securities lending collateral | Fixed Maturities | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Unrealized gain (loss) on investment of securities lending collateral | Fixed Maturities | Level 1 | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Unrealized gain (loss) on investment of securities lending collateral | Fixed Maturities | Level 2 | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Unrealized gain (loss) on investment of securities lending collateral | Fixed Maturities | Level 3 | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Partnerships | Real Estate | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	838	688
Partnerships | Real Estate | Level 1 | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Partnerships | Real Estate | Level 2 | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Partnerships | Real Estate | Level 3
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	838	688	482
Partnerships | Real Estate | Level 3 | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	838	688
Partnerships | Other | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	1,234	973
Partnerships | Other | Level 1 | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Partnerships | Other | Level 2 | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Partnerships | Other | Level 3
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	1,234	973	830
Partnerships | Other | Level 3 | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	1,234	973
Hedge Fund | Other | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	1,327	1,312
Hedge Fund | Other | Level 1 | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Hedge Fund | Other | Level 2 | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	0	0
Hedge Fund | Other | Level 3
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	1,327	1,312	$ 1,463
Hedge Fund | Other | Level 3 | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	1,327	1,312
Pooled separate accounts | Investment Measure at Net Asset Value as a practical expedient | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	2,659	2,869
Common/collective trusts | Investment Measure at Net Asset Value as a practical expedient | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	1,440	1,185
United Kingdom insurance pooled funds | Investment Measure at Net Asset Value as a practical expedient | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	186	167
Net assets at fair value | Postretirement
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount	$ 534	$ 599

Employee Benefit Plans (Changes

Employee Benefit Plans (Changes in Fair Value of Level 3 Pension and Post Retirement Assets) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Postretirement
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Plan assets at beginning of period	$ 1,557	$ 1,432
Actual Return on Assets:
Plan assets at end of period	1,589	1,557
Corporate bonds | Fixed Maturities | Level 3
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Plan assets at beginning of period	0	2
Actual Return on Assets:
Relating to assets still held at the reporting date	0	0
Relating to assets sold during the period	0	0
Purchases, sales and settlements	0	0
Transfers in and/or out of Level 3	0	(2)
Plan assets at end of period	0	0
Other | Fixed Maturities | Level 3
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Plan assets at beginning of period	44	62
Actual Return on Assets:
Relating to assets still held at the reporting date	0	0
Relating to assets sold during the period	0	0
Purchases, sales and settlements	(9)	(18)
Transfers in and/or out of Level 3	0	0
Plan assets at end of period	35	44
Other | Fixed Maturities | Postretirement | Level 3
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Plan assets at beginning of period	1	3
Actual Return on Assets:
Relating to assets still held at the reporting date	0	0
Relating to assets sold during the period	0	0
Purchases, sales and settlements	(1)	(2)
Transfers in and/or out of Level 3	0	0
Plan assets at end of period	0	1
Partnerships | Real Estate | Level 3
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Plan assets at beginning of period	688	482
Actual Return on Assets:
Relating to assets still held at the reporting date	11	41
Relating to assets sold during the period	0	0
Purchases, sales and settlements	139	165
Transfers in and/or out of Level 3	0	0
Plan assets at end of period	838	688
Partnerships | Other | Level 3
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Plan assets at beginning of period	973	830
Actual Return on Assets:
Relating to assets still held at the reporting date	161	68
Relating to assets sold during the period	0	0
Purchases, sales and settlements	100	75
Transfers in and/or out of Level 3	0	0
Plan assets at end of period	1,234	973
Hedge Fund | Other | Level 3
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Plan assets at beginning of period	1,312	1,463
Actual Return on Assets:
Relating to assets still held at the reporting date	116	15
Relating to assets sold during the period	0	0
Purchases, sales and settlements	(101)	(166)
Transfers in and/or out of Level 3	0	0
Plan assets at end of period	1,327	1,312
Asset-backed | Fixed Maturities | Postretirement | Level 3
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Plan assets at beginning of period	0	1
Actual Return on Assets:
Relating to assets still held at the reporting date	0	0
Relating to assets sold during the period	0	0
Purchases, sales and settlements	0	0
Transfers in and/or out of Level 3	0	(1)
Plan assets at end of period	0	0
Collateralized Mortgage Obligations | Fixed Maturities | Postretirement | Level 3
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Plan assets at beginning of period	0	1
Actual Return on Assets:
Relating to assets still held at the reporting date	0	0
Relating to assets sold during the period	0	0
Purchases, sales and settlements	0	(1)
Transfers in and/or out of Level 3	0	0
Plan assets at end of period	$ 0	$ 0

Employee Benefit Plans (Expecte

Employee Benefit Plans (Expected Benefit Payments for Company's Pension and Postretirement Plans as well as Expected Medicare Part D Subsidy Receipts Related to Postretirement Plan) (Details) $ in Millions	Dec. 31, 2020USD ($)
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
2021	$ 802
2022	824
2023	862
2024	866
2025	897
2026-2030	4,646
Total	8,897
Postretirement
Defined Benefit Plan Disclosure [Line Items]
2021	148
2022	149
2023	148
2024	148
2025	145
2026-2030	669
Total	1,407
Other Postretirement Benefits– Medicare Part D Subsidy Receipts
Defined Benefit Plan Disclosure [Line Items]
2021	7
2022	7
2023	6
2024	6
2025	6
2026-2030	28
Total	$ 60

Equity (Narrative) (Details)

Equity (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Class of Stock [Line Items]
Preferred Stock, Shares Authorized	10,000,000	10,000,000	10,000,000
Preferred Stock, Shares Outstanding	0	0	0
Common Stock, par value (in dollars per share)	$ 0.01	$ 0.01
Prudential Financial
Class of Stock [Line Items]
Preferred Stock, Shares Authorized	10,000,000	10,000,000
Common Stock, par value (in dollars per share)	$ 0.01	$ 0.01
Cash and short-term investments at carrying value excluding intercompany liquidity account	$ 5,560
Gibraltar Life
Class of Stock [Line Items]
Japan Permitted Percentage of Statutory Earnings w/o approval	83.00%
RBC or solvency margin capital in excess of the regulatory required minimums	3.5
Prudential Insurance
Class of Stock [Line Items]
Unassigned Surplus	$ 8,266
Percentage exceed the greater/lesser of statutory surplus	10.00%
Prudential Annuities Life Assurance Corporation
Class of Stock [Line Items]
Percentage exceed the greater/lesser of statutory surplus	10.00%
POJ
Class of Stock [Line Items]
Japan Permitted Percentage of Statutory Earnings w/o approval	83.00%
Japan-Retained Earnings Level- Permitted Percentage of Prior Year Statutory Earnings	100.00%
RBC or solvency margin capital in excess of the regulatory required minimums	3.5
Prudential International Insurance Holdings
Class of Stock [Line Items]
Proceeds from Dividends Received	$ 3,531
Prudential International Insurance Holdings | In-kind dividend
Class of Stock [Line Items]
Proceeds from Dividends Received	470
Prudential of Korea
Class of Stock [Line Items]
Proceeds from Dividends Received	1,627
Permitted to be paid in 2020 | Prudential Insurance
Class of Stock [Line Items]
Statutory Accounting Practices, Statutory Amount Available for Dividend Payments without Regulatory Approval	$ 1,476

Equity (Common Stock Changes in

Equity (Common Stock Changes in Number of Shares Issued, Held in Treasury and Outstanding) (Details)	Aug. 02, 2019USD ($)shares	Dec. 31, 2020USD ($)shares	Dec. 31, 2019shares	Dec. 31, 2018shares	Sep. 30, 2010USD ($)	Sep. 30, 2009USD ($)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance		666,305,189
Ending Balance		666,305,189	666,305,189
Incremental Common Shares Attributable to Dilutive Effect of Conversion of Debt Securities		0	3,600,000	5,900,000
Issued
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance		666,300,000	660,100,000	660,100,000
Common Stock issued		0	6,200,000	0
Common Stock acquired		0	0	0
Stock-based compensation programs		0	0	0
Ending Balance		666,300,000	666,300,000	660,100,000
Held In Treasury
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance		267,500,000	249,400,000	237,500,000
Common Stock issued		0	(5,500,000)	0
Common Stock acquired		6,700,000	27,200,000	14,900,000
Stock-based compensation programs		(4,300,000)	(3,600,000)	(3,000,000)
Ending Balance		269,900,000	267,500,000	249,400,000
Outstanding
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance		398,800,000	410,700,000	422,600,000
Common Stock issued		0	11,700,000	0
Common Stock acquired		(6,700,000)	(27,200,000)	(14,900,000)
Stock-based compensation programs		4,300,000	3,600,000	3,000,000
Ending Balance		396,400,000	398,800,000	410,700,000
Exhangeable Surplus Notes | Long-term Debt
Class of Stock [Line Items]
Debt Instrument, Face Amount | $					$ 500,000,000	$ 500,000,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Incremental Common Shares Attributable to Dilutive Effect of Conversion of Debt Securities	6,200,000
Debt Instrument, Convertible, Conversion Ratio	12.3877
Surplus Notes | $	$ 1,000	$ 1,000
Common Stock Held in Treasury | Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock Issued During Period, Shares, Acquisitions		5,500,000

Equity (Share Repurchases Autho

Equity (Share Repurchases Authorizations) (Details) - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Sep. 05, 2019	Dec. 31, 2017
Under December 2018 Board Of Directors Authorization
Equity, Class of Treasury Stock [Line Items]
Stock Repurchase Program, Authorized Amount	$ 1,500
Increased Under September 2019 Board Of Directors Authorization
Equity, Class of Treasury Stock [Line Items]
Stock Repurchase Program, Authorized Amount				$ 2,000
Under December 2017 Board Of Directors Authorization
Equity, Class of Treasury Stock [Line Items]
Stock Repurchase Program, Authorized Amount			$ 2,500
Under December 2016 Board Of Directors Authorization
Equity, Class of Treasury Stock [Line Items]
Stock Repurchase Program, Authorized Amount					$ 1,500
Other common stocks | Increased Under September 2019 Board Of Directors Authorization
Equity, Class of Treasury Stock [Line Items]
Number of Treasury Stock Shares Acquired	6.7
Other common stocks | Under December 2017 Board Of Directors Authorization
Equity, Class of Treasury Stock [Line Items]
Number of Treasury Stock Shares Acquired		27.2
Other common stocks | Under December 2016 Board Of Directors Authorization
Equity, Class of Treasury Stock [Line Items]
Number of Treasury Stock Shares Acquired			14.9

Equity (Accumulated Other Compr

Equity (Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	$ 24,039
Other Comprehensive Income (Loss), Tax	(1,252)	$ (3,811)	$ 1,812
Ending balance	30,738	24,039
Foreign  Currency Translation Adjustment
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(536)	(564)	(269)
Other Comprehensive Income (Loss), before Reclassifications, before Tax	455	37	(74)
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	57	27	1
Other Comprehensive Income (Loss), Tax	76	(36)	9
Cumulative Effect of Adoption of ASU 2016-01			0
Cumulative Effect of Adoption of ASU 2018-02			(231)
Cumulative effect of adoption of ASU 2017-12		0
Ending balance	52	(536)	(564)
Net Unrealized Investment Gains (Losses)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	28,112	14,745	19,968
Other Comprehensive Income (Loss), before Reclassifications, before Tax	8,112	18,540	(7,614)
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	(883)	(1,345)	(779)
Other Comprehensive Income (Loss), Tax	(1,276)	(3,835)	1,735
Cumulative Effect of Adoption of ASU 2016-01			(847)
Cumulative Effect of Adoption of ASU 2018-02			2,282
Cumulative effect of adoption of ASU 2017-12		7
Ending balance	34,065	28,112	14,745
Pension and Postretirement Unrecognized Net Periodic Benefit (Cost)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(3,537)	(3,275)	(2,625)
Other Comprehensive Income (Loss), before Reclassifications, before Tax	(70)	(563)	(547)
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	280	241	227
Other Comprehensive Income (Loss), Tax	(52)	60	68
Cumulative Effect of Adoption of ASU 2016-01			0
Cumulative Effect of Adoption of ASU 2018-02			(398)
Cumulative effect of adoption of ASU 2017-12		0
Ending balance	(3,379)	(3,537)	(3,275)
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	24,039	10,906	17,074
Other Comprehensive Income (Loss), before Reclassifications, before Tax	8,497	18,014	(8,235)
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	(546)	(1,077)	(551)
Other Comprehensive Income (Loss), Tax	(1,252)	(3,811)	1,812
Cumulative Effect of Adoption of ASU 2016-01			(847)
Cumulative Effect of Adoption of ASU 2018-02			1,653
Cumulative effect of adoption of ASU 2017-12		7
Ending balance	30,738	24,039	10,906
Cash flow hedges | Net Unrealized Investment Gains (Losses)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	832	811
Ending balance	(168)	832	811
Fair value hedges | Net Unrealized Investment Gains (Losses)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	0	0
Ending balance	$ 10	$ 0	$ 0

Equity (Reclassifications out o

Equity (Reclassifications out of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Realized investment gains (losses), net	$ (3,887)	$ (459)	$ 1,977
Other income (loss)	1,950	3,262	(1,042)
Total Foreign Currency Translation Adjustment
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Amounts reclassified from AOCI	57	27	1
Net Unrealized Investment Gains (Losses)
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Amounts reclassified from AOCI	(883)	(1,345)	(779)
Total amortization of defined benefit pension items
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Amounts reclassified from AOCI	280	241	227
Accumulated Other Comprehensive Income (Loss)
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Amounts reclassified from AOCI	(546)	(1,077)	(551)
Amounts reclassified from AOCI
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Realized investment gains (losses), net	1	(27)	(1)
Other income (loss)	(58)	0	0
Amortization of defined benefit items:
Prior service cost	(2)	0	3
Actuarial gain (loss)	(278)	(241)	(230)
Amounts reclassified from AOCI | Total Foreign Currency Translation Adjustment
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Amounts reclassified from AOCI	(57)	(27)	(1)
Amounts reclassified from AOCI | Net Unrealized Investment Gains (Losses)
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Amounts reclassified from AOCI	883	1,345	779
Amounts reclassified from AOCI | Total amortization of defined benefit pension items
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Amounts reclassified from AOCI	(280)	(241)	(227)
Amounts reclassified from AOCI | Accumulated Other Comprehensive Income (Loss)
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Amounts reclassified from AOCI	546	1,077	551
Amounts reclassified from AOCI | Net unrealized investment gains (losses) on available-for-sale securities
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Net unrealized investment gains (losses)	729	966	228
Amounts reclassified from AOCI | Interest Rate | Cash Flow Hedges
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Net unrealized investment gains (losses)	40	58	1
Amounts reclassified from AOCI | Currency | Cash Flow Hedges
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Net unrealized investment gains (losses)	5	6	7
Amounts reclassified from AOCI | Currency | Fair value hedges
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Net unrealized investment gains (losses)	(1)	0	0
Amounts reclassified from AOCI | Currency/Interest Rate | Cash Flow Hedges
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Net unrealized investment gains (losses)	$ 110	$ 315	$ 543

Equity (Net Unrealized Investme

Equity (Net Unrealized Investment Gains (Losses) on Fixed Maturity Securities on which OTTI loss had been previously recognized and allowance for credit losses has been recognized (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	$ 24,039
Ending balance	30,738	$ 24,039
Accumulated Other Comprehensive Income (Loss) Related to Net Unrealized Investment Gains (Losses)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	28,112	14,745	$ 19,968
Ending balance	34,065	28,112	14,745
OTTI | Net Unrealized Gains (Losses) on Investments
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	243	189	286
Reclassification due to implementation of ASU 2016-13	(243)
Net investment gains (losses) on investments arising during the period		129	(19)
Reclassification adjustment for (gains) losses included in net income		(96)	(76)
Reclassification adjustment for OTTI losses excluded from net income		21	(2)
Ending balance		243	189
OTTI | DAC, DSI, VOBA and Reinsurance Recoverables
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(1)	(1)	(2)
Reclassification due to implementation of ASU 2016-13	1
Impact of net unrealized investment (gains) losses on DAC, DSI, VOBA and reinsurance recoverables		0	1
Ending balance		(1)	(1)
OTTI | Future Policy Benefits, Policyholders’ Account Balances and Reinsurance Payables
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	5	4	3
Reclassification due to implementation of ASU 2016-13	(5)
Impact of net unrealized investment (gains) losses on future policy benefits, policyholders’ account balances and reinsurance payables		1	1
Ending balance		5	4
OTTI | Policyholders’ Dividends
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(22)	(23)	(46)
Reclassification due to implementation of ASU 2016-13	22
Impact of net unrealized investment (gains) losses on policyholders’ dividends		1	23
Ending balance		(22)	(23)
OTTI | Deferred Income Tax (Liability) Benefit
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(74)	(61)	(94)
Reclassification due to implementation of ASU 2016-13	74
Net investment gains (losses) on investments arising during the period		(29)	8
Reclassification adjustment for (gains) losses included in net income		21	33
Reclassification adjustment for OTTI losses excluded from net income		(5)	1
Impact of net unrealized investment (gains) losses on DAC, DSI, VOBA and reinsurance recoverables		0	0
Impact of net unrealized investment (gains) losses on future policy benefits, policyholders’ account balances and reinsurance payables		0	0
Impact of net unrealized investment (gains) losses on policyholders’ dividends		0	(9)
Ending balance		(74)	(61)
OTTI | Accumulated Other Comprehensive Income (Loss) Related to Net Unrealized Investment Gains (Losses)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	151	108	147
Reclassification due to implementation of ASU 2016-13	(151)
Net investment gains (losses) on investments arising during the period		100	(11)
Reclassification adjustment for (gains) losses included in net income		(75)	(43)
Reclassification adjustment for OTTI losses excluded from net income		16	(1)
Impact of net unrealized investment (gains) losses on DAC, DSI, VOBA and reinsurance recoverables		0	1
Impact of net unrealized investment (gains) losses on future policy benefits, policyholders’ account balances and reinsurance payables		1	1
Impact of net unrealized investment (gains) losses on policyholders’ dividends		1	14
Ending balance		$ 151	$ 108
With an allowance | Net Unrealized Gains (Losses) on Investments
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Net investment gains (losses) on investments arising during the period	47
Reclassification adjustment for (gains) losses included in net income	25
Increase (Decrease) due to non-credit related losses recognized in AOCI during period	(97)
Ending balance	(25)
With an allowance | DAC, DSI, VOBA and Reinsurance Recoverables
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Impact of net unrealized investment (gains) losses on DAC, DSI, VOBA and reinsurance recoverables	1
Ending balance	1
With an allowance | Future Policy Benefits, Policyholders’ Account Balances and Reinsurance Payables
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Impact of net unrealized investment (gains) losses on future policy benefits, policyholders’ account balances and reinsurance payables	(1)
Ending balance	(1)
With an allowance | Policyholders’ Dividends
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Impact of net unrealized investment (gains) losses on policyholders’ dividends	11
Ending balance	11
With an allowance | Deferred Income Tax (Liability) Benefit
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Net investment gains (losses) on investments arising during the period	(9)
Reclassification adjustment for (gains) losses included in net income	(5)
Increase (Decrease) due to non-credit related losses recognized in AOCI during period	19
Impact of net unrealized investment (gains) losses on DAC, DSI, VOBA and reinsurance recoverables	0
Impact of net unrealized investment (gains) losses on future policy benefits, policyholders’ account balances and reinsurance payables	0
Impact of net unrealized investment (gains) losses on policyholders’ dividends	(2)
Ending balance	3
With an allowance | Accumulated Other Comprehensive Income (Loss) Related to Net Unrealized Investment Gains (Losses)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Net investment gains (losses) on investments arising during the period	38
Reclassification adjustment for (gains) losses included in net income	20
Increase (Decrease) due to non-credit related losses recognized in AOCI during period	(78)
Impact of net unrealized investment (gains) losses on DAC, DSI, VOBA and reinsurance recoverables	1
Impact of net unrealized investment (gains) losses on future policy benefits, policyholders’ account balances and reinsurance payables	(1)
Impact of net unrealized investment (gains) losses on policyholders’ dividends	9
Ending balance	$ (11)

Equity (All Other Net Unrealize

Equity (All Other Net Unrealized Investment Gains and Losses in AOCI) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 24,039
Ending balance	30,738	$ 24,039
Accumulated Other Comprehensive Income (Loss) Related to Net Unrealized Investment Gains (Losses)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	28,112	14,745	$ 19,968
Cumulative effect of adoption of ASU 2017-12		7
Cumulative Effect of Adoption of ASU 2016-01			(847)
Cumulative Effect of Adoption of ASU 2018-02			2,282
Ending balance	34,065	28,112	14,745
All Other | Net Unrealized Gains (Losses) on Investments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	45,096	22,531	36,112
Reclassification due to implementation of ASU 2016-13	243
Net investment gains (losses) on investments arising during the period	13,914	23,826	(10,838)
Reclassification adjustment for (gains) losses included in net income	(908)	(1,249)	(703)
Reclassification adjustment for OTTI losses excluded from net income		(21)	2
Reclassification due to allowance for credit losses recorded during period	97
Cumulative effect of adoption of ASU 2017-12		9
Cumulative Effect of Adoption of ASU 2016-01			(2,042)
Ending balance	58,442	45,096	22,531
All Other | DAC, DSI, VOBA and Reinsurance Recoverables
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(1,584)	(738)	(1,580)
Reclassification due to implementation of ASU 2016-13	(1)
Impact of net unrealized investment (gains) losses on DAC, DSI, VOBA and reinsurance recoverables	355	(846)	842
Ending balance	(1,230)	(1,584)	(738)
All Other | Future Policy Benefits, Policyholders’ Account Balances and Reinsurance Payables
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(2,914)	(791)	(1,243)
Reclassification due to implementation of ASU 2016-13	5
Impact of net unrealized investment (gains) losses on future policy benefits, policyholders’ account balances and reinsurance payables	(3,678)	(2,123)	452
Ending balance	(6,587)	(2,914)	(791)
All Other | Policyholders’ Dividends
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(3,344)	(894)	(3,631)
Reclassification due to implementation of ASU 2016-13	(22)
Impact of net unrealized investment (gains) losses on policyholders’ dividends	(2,537)	(2,450)	1,924
Cumulative Effect of Adoption of ASU 2016-01			813
Ending balance	(5,903)	(3,344)	(894)
All Other | Deferred Income Tax (Liability) Benefit
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(9,293)	(5,471)	(9,837)
Reclassification due to implementation of ASU 2016-13	(74)
Net investment gains (losses) on investments arising during the period	(2,656)	(5,282)	2,893
Reclassification adjustment for (gains) losses included in net income	173	277	303
Reclassification adjustment for OTTI losses excluded from net income		5	(1)
Reclassification due to allowance for credit losses recorded during period	(19)
Impact of net unrealized investment (gains) losses on DAC, DSI, VOBA and reinsurance recoverables	(70)	190	(263)
Impact of net unrealized investment (gains) losses on future policy benefits, policyholders’ account balances and reinsurance payables	760	475	(186)
Impact of net unrealized investment (gains) losses on policyholders’ dividends	533	515	(874)
Cumulative effect of adoption of ASU 2017-12		(2)
Cumulative Effect of Adoption of ASU 2016-01			212
Cumulative Effect of Adoption of ASU 2018-02			2,282
Ending balance	(10,646)	(9,293)	(5,471)
All Other | Accumulated Other Comprehensive Income (Loss) Related to Net Unrealized Investment Gains (Losses)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	27,961	14,637	19,821
Reclassification due to implementation of ASU 2016-13	151
Net investment gains (losses) on investments arising during the period	11,258	18,544	(7,945)
Reclassification adjustment for (gains) losses included in net income	(735)	(972)	(400)
Reclassification adjustment for OTTI losses excluded from net income		(16)	1
Reclassification due to allowance for credit losses recorded during period	78
Impact of net unrealized investment (gains) losses on DAC, DSI, VOBA and reinsurance recoverables	285	(656)	579
Impact of net unrealized investment (gains) losses on future policy benefits, policyholders’ account balances and reinsurance payables	(2,918)	(1,648)	266
Impact of net unrealized investment (gains) losses on policyholders’ dividends	(2,004)	(1,935)	1,050
Cumulative effect of adoption of ASU 2017-12		7
Cumulative Effect of Adoption of ASU 2016-01			(1,017)
Cumulative Effect of Adoption of ASU 2018-02			2,282
Ending balance	$ 34,076	$ 27,961	$ 14,637

Equity (Statutory Financial Inf

Equity (Statutory Financial Information) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Prudential Insurance
Statutory Accounting Practices [Line Items]
Statutory net income (loss)	$ 1,770	$ (169)	$ 1,324
Statutory capital and surplus	11,597	11,483	10,695
PALAC
Statutory Accounting Practices [Line Items]
Statutory net income (loss)	(637)	(2,052)	(852)
Statutory capital and surplus	$ 6,262	$ 4,748	$ 6,396

Earnings Per Share (Narrative)

Earnings Per Share (Narrative) (Details) shares in Millions	Aug. 02, 2019USD ($)shares	Dec. 31, 2020USD ($)shares	Dec. 31, 2019shares	Dec. 31, 2018shares	Sep. 30, 2010USD ($)	Sep. 30, 2009USD ($)
Debt Instrument [Line Items]
Undistributed earnings allocated to participating unvested share-based payment awards, weighted outstanding shares		4.9	4.6	4.9
Exchangeable Surplus Notes (in shares)		0	3.6	5.9
Long-term Debt | Exhangeable Surplus Notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount | $					$ 500,000,000	$ 500,000,000
Interest Rate					5.36%
Debt Instrument, Convertible, Conversion Ratio	12.3877
Surplus notes principal amount, for each | $	$ 1,000	$ 1,000
Exchangeable Surplus Notes (in shares)	6.2

Earnings Per Share (Reconciliat

Earnings Per Share (Reconciliation of the Numerators and Denominators of the Basic and Diluted Per Share) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Basic earnings per share
Net income (loss)	$ 1,022	$ 1,507	$ (2,405)	$ (270)	$ 1,138	$ 1,425	$ 738	$ 937	$ (146)	$ 4,238	$ 4,088
Less: Income (loss) attributable to noncontrolling interests	$ 203	$ 20	$ 4	$ 1	$ 10	$ 7	$ 30	$ 5	228	52	14
Less: Dividends and undistributed earnings allocated to participating unvested share-based payment awards									21	46	48
Net income (loss) attributable to Prudential Financial available to holders of Common Stock, Basic Income									$ (395)	$ 4,140	$ 4,026
Net income (loss) attributable to Prudential Financial available to holders of Common Stock, Basic Weighted Average Shares									395.8	404.8	417.6
Net income (loss) attributable to Prudential Financial available to holders of Common Stock, Basic Per Share Amount	$ 2.04	$ 3.72	$ (6.12)	$ (0.70)	$ 2.78	$ 3.47	$ 1.73	$ 2.25	$ (1)	$ 10.23	$ 9.64
Dilutive Securities, Effect on Basic Earnings Per Share [Abstract]
Add: Dividends and undistributed earnings allocated to participating unvested share-based payment awards—Basic									$ 21	$ 46	$ 48
Less: Dividends and undistributed earnings allocated to participating unvested share-based payment awards—Diluted									$ 21	$ 45	$ 47
Stock options, Weighted Average Shares									0	1.1	1.5
Deferred and long-term compensation programs (in shares)									0	1.4	1.2
Exchangeable Surplus Notes									$ 0	$ 12	$ 21
Exchangeable Surplus Notes (in shares)									0	3.6	5.9
Diluted earnings per share(1)
Net income (loss) attributable to Prudential Financial available to holders of Common Stock, Diluted Income									$ (395)	$ 4,153	$ 4,048
Net income (loss) attributable to Prudential Financial available to holders of Common Stock, Diluted Weighted Average Shares									395.8	410.9	426.2
Net income (loss) attributable to Prudential Financial available to holders of Common Stock, Diluted Per Share Amount	$ 2.03	$ 3.70	$ (6.12)	$ (0.70)	$ 2.76	$ 3.44	$ 1.71	$ 2.22	$ (1)	$ 10.11	$ 9.50

Earnings Per Share (Antidilutiv

Earnings Per Share (Antidilutive Securities Excluded From the Computation of Diluted Earnings Per Share) (Details) - $ / shares shares in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Weighted average shares of antidilutive security excluded from computation of diluted earnings per share (in shares)	5.5	1.2	0.7
Antidilutive stock options based on application of the treasury stock method
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Weighted average shares of antidilutive security excluded from computation of diluted earnings per share (in shares)	3.3	1.2	0.7
Weighted average exercise price of options excluded from computation of diluted earnings per share (in dollars per share)	$ 82.06	$ 102.84	$ 108.34
Antidilutive stock options due to net loss available to holders of Common Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Weighted average shares of antidilutive security excluded from computation of diluted earnings per share (in shares)	0.4	0	0
Antidilutive shares based on application of the treasury stock method
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Weighted average shares of antidilutive security excluded from computation of diluted earnings per share (in shares)	0.2	0	0
Antidilutive shares due to net loss available to holders of Common Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Weighted average shares of antidilutive security excluded from computation of diluted earnings per share (in shares)	1.6	0	0

Share-Based Payments (Narrative

Share-Based Payments (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Tax benefit realized for exercises of stock options	$ 3	$ 5	$ 7
Tax benefit realized upon vesting of restricted stock shares, restricted stock units, and performance shares	44	52	49
Cash used to settle performance units	2	32	$ 29
Assurance IQ
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Tax benefit realized for exercises of stock options	$ 3	$ 2
Omnibus Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Authorized shares remain available for grant including previously authorized but unissued shares under the Option Plan	9,906,113
Employee stock options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Maximum term of stock option granted (in years)	10 years
Vesting period	3 years
Weighed Average grant date fair value of stock options granted (in dollars per share)	$ 18	$ 20.02	$ 27.11
The total intrinsic value of stock options exercised	$ 13	$ 21	$ 28
Unrecognized Compensation Cost	$ 3
Weighted Average Recognition Period (in years)	1 year 6 months 25 days
Employee stock options | Assurance IQ
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Maximum term of stock option granted (in years)	10 years
Vesting period	3 years
Weighed Average grant date fair value of stock options granted (in dollars per share)	$ 0	$ 86.31
The total intrinsic value of stock options exercised	$ 10	$ 3
Unrecognized Compensation Cost	$ 30
Weighted Average Recognition Period (in years)	2 years 1 month 28 days
Employee Restricted Stock Restricted Units And Performance Shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
The fair market value of share awards released	$ 191	255	$ 238
Unrecognized Compensation Cost	$ 153
Weighted Average Recognition Period (in years)	1 year 8 months 4 days
Employee Restricted Stock Restricted Units And Performance Shares | Assurance IQ
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
The fair market value of share awards released	$ 2	$ 0
Unrecognized Compensation Cost	$ 7
Weighted Average Recognition Period (in years)	3 years 2 months 23 days
Employee restricted stock units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	1,437,753
Granted (in dollars per share)	$ 93.88	$ 93.35	$ 106.32
Employee restricted stock units | Assurance IQ
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	32,869
Granted (in dollars per share)	$ 0	87.67
Employee performance shares and performance units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	622,607
Granted (in dollars per share)	$ 95.42	90.68	$ 81.55
Employee performance shares and performance units | Assurance IQ
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	0
Granted (in dollars per share)	$ 63.30	$ 89.81
Tax benefit realized upon vesting of restricted stock shares, restricted stock units, and performance shares	$ 1

Share-Based Payments (Weighted

Share-Based Payments (Weighted Average Grant Date Assumptions Used in Binomial Optional Valuation Model) (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Payment Arrangement [Abstract]
Expected volatility	33.99%	34.63%	35.39%
Expected dividend yield	4.59%	4.26%	2.88%
Expected term	5 years 7 months 6 days	5 years 6 months 14 days	5 years 5 months 26 days
Risk-free interest rate	1.42%	2.50%	2.64%

Share-Based Payments (Compensat

Share-Based Payments (Compensation Cost Recognized and Related Income Tax Benefit for Stock Options, Restricted Stock Shares, Restricted Stock Units, and Performance Share Awards) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total Compensation Cost Recognized	$ 226	$ 231	$ 155
Income Tax Benefit	53	55	36
Assurance IQ
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total Compensation Cost Recognized	16	5
Income Tax Benefit	5	1
Employee stock options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total Compensation Cost Recognized	11	11	13
Income Tax Benefit	3	3	3
Employee stock options | Assurance IQ
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total Compensation Cost Recognized	14	4
Income Tax Benefit	4	1
Employee restricted stock units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total Compensation Cost Recognized	162	149	139
Income Tax Benefit	38	35	32
Employee restricted stock units | Assurance IQ
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total Compensation Cost Recognized	2	1
Income Tax Benefit	1	0
Employee performance shares and performance units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total Compensation Cost Recognized	53	71	3
Income Tax Benefit	12	17	$ 1
Employee performance shares and performance units | Assurance IQ
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total Compensation Cost Recognized	0	0
Income Tax Benefit	$ 0	$ 0

Share-Based Payments (Summary o

Share-Based Payments (Summary of the Status of the Company's Employee Stock Option Grants) (Details) - Employee stock options	12 Months Ended
	Dec. 31, 2020$ / sharesshares
Shares
Outstanding (in shares) | shares	4,610,997
Granted (in shares) | shares	610,027
Exercised (in shares) | shares	(647,313)
Forfeited (in shares) | shares	0
Expired (in shares) | shares	(9,859)
Outstanding (in shares) | shares	4,563,852
Exercisable (in shares) | shares	3,427,197
Weighted Average Exercise Price
Outstanding (in dollars per share) | $ / shares	$ 76.26
Granted (in dollars per share) | $ / shares	95.87
Exercised (in dollars per share) | $ / shares	59.82
Forfeited (in dollars per share) | $ / shares	0
Expired (in dollars per share) | $ / shares	78.45
Outstanding (in dollars per share) | $ / shares	81.21
Exercisable (in dollars per share) | $ / shares	$ 76.25
Assurance IQ
Shares
Outstanding (in shares) | shares	547,192
Granted (in shares) | shares	0
Exercised (in shares) | shares	(142,638)
Forfeited (in shares) | shares	(10,288)
Expired (in shares) | shares	0
Outstanding (in shares) | shares	394,266
Exercisable (in shares) | shares	57,791
Weighted Average Exercise Price
Outstanding (in dollars per share) | $ / shares	$ 1.38
Granted (in dollars per share) | $ / shares	0
Exercised (in dollars per share) | $ / shares	0.51
Forfeited (in dollars per share) | $ / shares	5.10
Expired (in dollars per share) | $ / shares	0
Outstanding (in dollars per share) | $ / shares	1.60
Exercisable (in dollars per share) | $ / shares	$ 4.02

Share-Based Payments (Weighte_2

Share-Based Payments (Weighted Average Remaining Contractual Term and Aggregate Intrinsic Value of Stock Options Outstanding, Vested and Expected to Vest, and Exercisable) (Details) - Employee stock options $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Outstanding, Weighted Average Remaining Contractual Term	4 years 5 months 19 days
Exercisable, Weighted Average Remaining Contractual Term	3 years 5 months 15 days
Outstanding, Aggregate Intrinsic Value	$ 32
Exercisable, Aggregate Intrinsic Value	$ 32
Assurance IQ
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Outstanding, Weighted Average Remaining Contractual Term	7 years 5 months 8 days
Exercisable, Weighted Average Remaining Contractual Term	7 years 4 months 20 days
Outstanding, Aggregate Intrinsic Value	$ 30
Exercisable, Aggregate Intrinsic Value	$ 4

Share-Based Payments (Summary_2

Share-Based Payments (Summary of the Company's Employee Restricted Stock Shares, Restricted Stock Units and Performance Shares (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares to be awarded at the end of each performance period	0.00%
Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares to be awarded at the end of each performance period	125.00%
Employee restricted stock units
Restricted Awards
Restricted (in shares)	4,471,189
Granted (in shares)	1,922,202
Forfeited (in shares)	(197,399)
Released (in shares)	(1,437,753)
Restricted (in shares)	4,758,239	4,471,189
Weighted Average Grant Date Fair Value
Restricted (in dollars per share)	$ 102.25
Granted (in dollars per share)	93.88	$ 93.35	$ 106.32
Forfeited (in dollars per share)	95.86
Released (in dollars per share)	109.73
Restricted (in dollars per share)	$ 96.87	$ 102.25
Employee performance shares and performance units
Restricted Awards
Restricted (in shares)	1,822,886
Granted (in shares)	671,994
Forfeited (in shares)	(16,118)
Performance adjustment (in shares)	49,485
Released (in shares)	(622,607)
Restricted (in shares)	1,905,640	1,822,886
Weighted Average Grant Date Fair Value
Restricted (in dollars per share)	$ 90.03
Granted (in dollars per share)	95.42	$ 90.68	$ 81.55
Forfeited (in dollars per share)	65.17
Performance adjustment (in dollars per share)	95.43
Released (in dollars per share)	90.23
Restricted (in dollars per share)	$ 92.07	$ 90.03
Assurance IQ | Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares to be awarded at the end of each performance period	0.00%
Variable profit sharing	$ 900
Assurance IQ | Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares to be awarded at the end of each performance period	100.00%
Variable profit sharing	$ 1,300
Assurance IQ | Employee restricted stock units
Restricted Awards
Restricted (in shares)	125,788
Granted (in shares)	0
Forfeited (in shares)	(20,222)
Performance adjustment (in shares)	0
Released (in shares)	(32,869)
Restricted (in shares)	72,697	125,788
Weighted Average Grant Date Fair Value
Restricted (in dollars per share)	$ 87.67
Granted (in dollars per share)	0	$ 87.67
Forfeited (in dollars per share)	87.67
Performance adjustment (in dollars per share)	0
Released (in dollars per share)	87.67
Restricted (in dollars per share)	$ 87.67	$ 87.67
Assurance IQ | Employee performance shares and performance units
Restricted Awards
Restricted (in shares)	1,982,708
Granted (in shares)	112,949
Forfeited (in shares)	(29,662)
Performance adjustment (in shares)	0
Released (in shares)	0
Restricted (in shares)	2,065,995	1,982,708
Weighted Average Grant Date Fair Value
Restricted (in dollars per share)	$ 89.81
Granted (in dollars per share)	63.30	$ 89.81
Forfeited (in dollars per share)	85.30
Performance adjustment (in dollars per share)	0
Released (in dollars per share)	0
Restricted (in dollars per share)	$ 88.43	$ 89.81

Segment Information (Narrative)

Segment Information (Narrative) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)segment	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Segment Reporting Information [Line Items]
Number of Reportable Segments | segment	8
Total deferred gain (loss)	$ 195
Synthetic Gic Fees	139	$ 147	$ 146
Segment Reconciling Items
Segment Reporting Information [Line Items]
Derivative, Gain (Loss) on Derivative, Net, Terminated Or Offset Before Maturity	$ 41	$ 41	$ 19

Segment Information (Operating

Segment Information (Operating Income of Reportable Segments) (Reconciling Items) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
(Gains) Losses On Assets Supporting Experience-Rated Contractholder Liabilities, Net	$ 743	$ 971	$ (863)
Segment Reconciling Items
Segment Reporting Information [Line Items]
Terminated hedges of foreign currency earnings	68	60	(14)
Current period yield adjustments	364	326	369
Principal source of earnings	57	(37)	219
Investments carried at fair value through net income	163	490	(343)
Foreign currency exchange movements	3	42	(270)
Other activities	(35)	(32)	(34)
(Gains) Losses On Assets Supporting Experience-Rated Contractholder Liabilities, Net	$ 50	$ 22	$ (153)

Segment Information (Operatin_2

Segment Information (Operating Income of Reportable Segments) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Income (loss) before income taxes and equity in earnings of operating joint ventures	$ (323)	$ 5,085	$ 4,834
Operating Segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Income (loss) before income taxes and equity in earnings of operating joint ventures	5,144	5,851	6,121
Operating Segments | PGIM | PGIM
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Income (loss) before income taxes and equity in earnings of operating joint ventures	1,262	998	959
Operating Segments | Total U.S. Workplace Solutions division
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Income (loss) before income taxes and equity in earnings of operating joint ventures	1,420	1,586	1,278
Operating Segments | Total U.S. Workplace Solutions division | Retirement
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Income (loss) before income taxes and equity in earnings of operating joint ventures	1,436	1,301	1,049
Operating Segments | Total U.S. Workplace Solutions division | Group Insurance
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Income (loss) before income taxes and equity in earnings of operating joint ventures	(16)	285	229
Operating Segments | Total U.S. Individual Solutions division
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Income (loss) before income taxes and equity in earnings of operating joint ventures	1,422	1,930	2,148
Operating Segments | Total U.S. Individual Solutions division | Individual Annuities
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Income (loss) before income taxes and equity in earnings of operating joint ventures	1,470	1,843	1,925
Operating Segments | Total U.S. Individual Solutions division | Individual Life
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Income (loss) before income taxes and equity in earnings of operating joint ventures	(48)	87	223
Operating Segments | Assurance IQ division
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Income (loss) before income taxes and equity in earnings of operating joint ventures	(88)	(9)	0
Operating Segments | Assurance IQ division | Assurance IQ
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Income (loss) before income taxes and equity in earnings of operating joint ventures	(88)	(9)	0
Operating Segments | Total International Insurance division | International Businesses
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Income (loss) before income taxes and equity in earnings of operating joint ventures	2,952	3,112	3,019
Operating Segments | Total Corporate and Other | Total Corporate and Other
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Income (loss) before income taxes and equity in earnings of operating joint ventures	(1,824)	(1,766)	(1,283)
Segment Reconciling Items | Realized investment gains (losses), net, and related adjustments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Income (loss) before income taxes and equity in earnings of operating joint ventures	(4,156)	(835)	611
Segment Reconciling Items | Charges related to realized investment gains (losses), net
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Income (loss) before income taxes and equity in earnings of operating joint ventures	(159)	(123)	(315)
Segment Reconciling Items | Segment Reconciling Items, Market Experience Updates
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Income (loss) before income taxes and equity in earnings of operating joint ventures	(640)	(449)	0
Segment Reconciling Items | Segment Reconciling Items, Other Adjustments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Income (loss) before income taxes and equity in earnings of operating joint ventures	51	(47)	0
Segment Reconciling Items | Equity in earnings of operating joint ventures and earnings attributable to noncontrolling interests
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Income (loss) before income taxes and equity in earnings of operating joint ventures	90	(103)	(87)
Segment Reconciling Items | Closed Block division
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Income (loss) before income taxes and equity in earnings of operating joint ventures	(24)	36	(62)
Segment Reconciling Items | Other Divested and Run-off Businesses
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Income (loss) before income taxes and equity in earnings of operating joint ventures	(629)	755	(1,434)
U.S. Businesses | Operating Segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Income (loss) before income taxes and equity in earnings of operating joint ventures	$ 2,754	$ 3,507	$ 3,426

Segment Information (Certain Fi

Segment Information (Certain Financial Information for the Reportable Segments) (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Assets	$ 940,722				$ 896,552				$ 940,722	$ 896,552
Revenues	16,029	$ 15,425	$ 12,115	$ 13,464	19,223	$ 15,105	$ 15,388	$ 15,091	57,033	64,807	$ 62,992
Net Investment Income									17,410	17,585	16,176
Total benefits and expenses	15,129	$ 13,978	$ 14,447	$ 13,802	17,879	$ 13,380	$ 14,512	$ 13,951	57,356	59,722	58,158
Policyholders’ Benefits									35,059	36,820	39,404
Interest Credited to Policyholders’ Account Balances									4,538	4,880	3,196
Dividends to Policyholders									1,625	2,274	1,336
Interest expense									1,574	1,550	1,420
Amortization of DAC									2,221	2,332	2,273
Closed Block Business | Operating Segments
Segment Reporting Information [Line Items]
Assets	62,089				61,327				62,089	61,327
Closed Block Business | Closed Block division
Segment Reporting Information [Line Items]
Revenues									4,766	5,642	4,678
Net Investment Income									2,240	2,323	2,288
Total benefits and expenses									4,790	5,606	4,740
Policyholders’ Benefits									2,757	2,907	2,972
Interest Credited to Policyholders’ Account Balances									127	130	132
Dividends to Policyholders									1,549	2,187	1,236
Interest expense									1	7	2
Amortization of DAC									26	29	35
Operating Segments
Segment Reporting Information [Line Items]
Revenues									54,149	55,873	55,954
Net Investment Income									14,274	14,188	12,887
Total benefits and expenses									49,005	50,022	49,833
Policyholders’ Benefits									29,925	31,492	32,756
Interest Credited to Policyholders’ Account Balances									3,712	3,829	3,680
Dividends to Policyholders									76	84	96
Interest expense									1,570	1,539	1,414
Amortization of DAC									2,088	2,211	2,002
Operating Segments | Other Divested and Run-off Businesses
Segment Reporting Information [Line Items]
Revenues									1,944	3,660	2,835
Net Investment Income									931	1,110	1,042
Total benefits and expenses									2,573	2,905	4,269
Policyholders’ Benefits									2,116	2,366	3,751
Interest Credited to Policyholders’ Account Balances									43	62	54
Dividends to Policyholders									0	3	4
Interest expense									3	4	4
Amortization of DAC									91	134	118
Operating Segments | PGIM | PGIM
Segment Reporting Information [Line Items]
Assets	48,680				47,655				48,680	47,655
Revenues									4,153	3,589	3,294
Net Investment Income									304	200	73
Total benefits and expenses									2,891	2,591	2,335
Policyholders’ Benefits									0	0	0
Interest Credited to Policyholders’ Account Balances									0	0	0
Dividends to Policyholders									0	0	0
Interest expense									33	49	40
Amortization of DAC									8	6	8
Operating Segments | Total U.S. Workplace Solutions division
Segment Reporting Information [Line Items]
Assets	259,327				241,865				259,327	241,865
Revenues									17,820	20,814	22,510
Net Investment Income									5,233	5,362	4,993
Total benefits and expenses									16,400	19,228	21,232
Policyholders’ Benefits									12,674	15,318	17,456
Interest Credited to Policyholders’ Account Balances									1,676	1,789	1,712
Dividends to Policyholders									0	0	0
Interest expense									26	48	37
Amortization of DAC									34	45	38
Operating Segments | Total U.S. Workplace Solutions division | Retirement
Segment Reporting Information [Line Items]
Assets	213,726				198,153				213,726	198,153
Revenues									12,034	15,064	16,825
Net Investment Income									4,707	4,738	4,377
Total benefits and expenses									10,598	13,763	15,776
Policyholders’ Benefits									8,010	11,061	13,215
Interest Credited to Policyholders’ Account Balances									1,470	1,503	1,430
Dividends to Policyholders									0	0	0
Interest expense									23	46	35
Amortization of DAC									26	38	33
Operating Segments | Total U.S. Workplace Solutions division | Group Insurance
Segment Reporting Information [Line Items]
Assets	45,601				43,712				45,601	43,712
Revenues									5,786	5,750	5,685
Net Investment Income									526	624	616
Total benefits and expenses									5,802	5,465	5,456
Policyholders’ Benefits									4,664	4,257	4,241
Interest Credited to Policyholders’ Account Balances									206	286	282
Dividends to Policyholders									0	0	0
Interest expense									3	2	2
Amortization of DAC									8	7	5
Operating Segments | Total U.S. Individual Solutions division
Segment Reporting Information [Line Items]
Assets	311,671				285,112				311,671	285,112
Revenues									10,838	11,110	10,797
Net Investment Income									3,212	3,103	2,727
Total benefits and expenses									9,416	9,180	8,649
Policyholders’ Benefits									3,507	3,213	2,859
Interest Credited to Policyholders’ Account Balances									1,185	1,164	1,101
Dividends to Policyholders									36	38	37
Interest expense									828	896	781
Amortization of DAC									891	1,090	879
Operating Segments | Total U.S. Individual Solutions division | Individual Annuities
Segment Reporting Information [Line Items]
Assets	200,718				189,040				200,718	189,040
Revenues									4,440	4,995	4,966
Net Investment Income									898	856	694
Total benefits and expenses									2,970	3,152	3,041
Policyholders’ Benefits									337	435	370
Interest Credited to Policyholders’ Account Balances									337	334	335
Dividends to Policyholders									0	0	0
Interest expense									59	122	67
Amortization of DAC									524	513	511
Operating Segments | Total U.S. Individual Solutions division | Individual Life
Segment Reporting Information [Line Items]
Assets	110,953				96,072				110,953	96,072
Revenues									6,398	6,115	5,831
Net Investment Income									2,314	2,247	2,033
Total benefits and expenses									6,446	6,028	5,608
Policyholders’ Benefits									3,170	2,778	2,489
Interest Credited to Policyholders’ Account Balances									848	830	766
Dividends to Policyholders									36	38	37
Interest expense									769	774	714
Amortization of DAC									367	577	368
Operating Segments | Assurance IQ division
Segment Reporting Information [Line Items]
Assets	2,703				2,639				2,703	2,639
Revenues									391	101
Net Investment Income									2	0
Total benefits and expenses									479	110
Policyholders’ Benefits									0	0
Interest Credited to Policyholders’ Account Balances									0	0
Dividends to Policyholders									0	0
Interest expense									5	0
Amortization of DAC									0	0
Operating Segments | Assurance IQ division | Assurance IQ
Segment Reporting Information [Line Items]
Assets	2,703				2,639				2,703	2,639
Revenues									391	101
Net Investment Income									2	0
Total benefits and expenses									479	110
Policyholders’ Benefits									0	0
Interest Credited to Policyholders’ Account Balances									0	0
Dividends to Policyholders									0	0
Interest expense									5	0
Amortization of DAC									0	0
Operating Segments | Total International Insurance division | International Businesses
Segment Reporting Information [Line Items]
Assets	231,128				213,335				231,128	213,335
Revenues									21,576	20,936	20,058
Net Investment Income									4,982	4,944	4,642
Total benefits and expenses									18,624	17,824	17,039
Policyholders’ Benefits									13,714	12,925	12,453
Interest Credited to Policyholders’ Account Balances									851	876	867
Dividends to Policyholders									40	46	59
Interest expense									8	25	21
Amortization of DAC									1,204	1,116	1,121
Operating Segments | Corporate and Other | Corporate and Other
Segment Reporting Information [Line Items]
Assets	25,124				44,619				25,124	44,619
Revenues									(629)	(677)	(705)
Net Investment Income									541	579	452
Total benefits and expenses									1,195	1,089	578
Policyholders’ Benefits									30	36	(12)
Interest Credited to Policyholders’ Account Balances									0	0	0
Dividends to Policyholders									0	0	0
Interest expense									670	521	535
Amortization of DAC									(49)	(46)	(44)
Segment Reconciling Items | Realized investment gains (losses), net, and related adjustments
Segment Reporting Information [Line Items]
Revenues									(3,463)	114	(99)
Net Investment Income									(35)	(36)	(41)
Total benefits and expenses									693	949	(710)
Policyholders’ Benefits									0	0	0
Interest Credited to Policyholders’ Account Balances									693	949	(710)
Dividends to Policyholders									0	0	0
Interest expense									0	0	0
Amortization of DAC									0	0	0
Segment Reconciling Items | Charges related to realized investment gains (losses), net
Segment Reporting Information [Line Items]
Revenues									(134)	(252)	(273)
Net Investment Income									0	0	0
Total benefits and expenses									25	(129)	42
Policyholders’ Benefits									0	(136)	(75)
Interest Credited to Policyholders’ Account Balances									(58)	(94)	40
Dividends to Policyholders									0	0	0
Interest expense									0	0	0
Amortization of DAC									(116)	(181)	118
Segment Reconciling Items | Segment Reconciling Items, Market Experience Updates
Segment Reporting Information [Line Items]
Revenues									(196)	(79)
Net Investment Income									0	0
Total benefits and expenses									444	370
Policyholders’ Benefits									261	191
Interest Credited to Policyholders’ Account Balances									21	4
Dividends to Policyholders									0	0
Interest expense									0	0
Amortization of DAC									132	139
Segment Reconciling Items | Segment Reconciling Items, Other Adjustments
Segment Reporting Information [Line Items]
Revenues									105	(5)
Net Investment Income									0	0
Total benefits and expenses									54	42
Policyholders’ Benefits									0	0
Interest Credited to Policyholders’ Account Balances									0	0
Dividends to Policyholders									0	0
Interest expense									0	0
Amortization of DAC									0	0
Segment Reconciling Items | Equity in earnings of operating joint ventures and earnings attributable to noncontrolling interests
Segment Reporting Information [Line Items]
Revenues									(138)	(146)	(103)
Net Investment Income									0	0	0
Total benefits and expenses									(228)	(43)	(16)
Policyholders’ Benefits									0	0	0
Interest Credited to Policyholders’ Account Balances									0	0	0
Dividends to Policyholders									0	0	0
Interest expense									0	0	0
Amortization of DAC									0	0	0
U.S. Businesses | Operating Segments
Segment Reporting Information [Line Items]
Assets	$ 573,701				$ 529,616				573,701	529,616
Revenues									29,049	32,025	33,307
Net Investment Income									8,447	8,465	7,720
Total benefits and expenses									26,295	28,518	29,881
Policyholders’ Benefits									16,181	18,531	20,315
Interest Credited to Policyholders’ Account Balances									2,861	2,953	2,813
Dividends to Policyholders									36	38	37
Interest expense									859	944	818
Amortization of DAC									$ 925	$ 1,135	$ 917

Segment Information (Revenues a

Segment Information (Revenues and Asset Management Revenues) (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Asset management and service fees									$ 4,391	$ 4,239	$ 4,100
Total revenues	$ 16,029	$ 15,425	$ 12,115	$ 13,464	$ 19,223	$ 15,105	$ 15,388	$ 15,091	57,033	64,807	62,992
PGIM | PGIM | Intersegment Eliminations
Segment Reporting Information [Line Items]
Total revenues									866	777	731
Domestic operations
Segment Reporting Information [Line Items]
Total revenues									34,921	40,868	40,603
Foreign operations
Segment Reporting Information [Line Items]
Total revenues									22,112	23,939	22,389
Foreign operations, Japan
Segment Reporting Information [Line Items]
Total revenues									19,864	19,626	19,125
Foreign operations, Korea(1)
Segment Reporting Information [Line Items]
Total revenues									364	1,638	1,495
Management Service, Base
Segment Reporting Information [Line Items]
Asset management and service fees									3,615	3,489	3,438
Management Service, Incentive
Segment Reporting Information [Line Items]
Asset management and service fees									193	169	56
Financial Service, Other
Segment Reporting Information [Line Items]
Asset management and service fees									$ 583	$ 581	$ 606

Commitments and Contingent Li_3

Commitments and Contingent Liabilities (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Commitments and Contingent Liabilities [Line Items]
Fair value of collateral supporting these assets	$ 806	$ 607
Other assets:
Premium tax offset for future undiscounted assessments	44	48
Premium tax offset currently available for paid assessments	3	3
Total	47	51
Other liabilities:
Insolvency assessments	36	37
Commitments | Commercial Mortgage Loans
Commitments and Contingent Liabilities [Line Items]
Total outstanding mortgage loan commitments	2,357	2,129
Portion of commitment where prearrangement to sell to investor exists	882	751
Allowance for credit losses	0
Change in allowace for credit losses	(2)
Expected to be funded from the GA and other operations outside the SA
Commitments and Contingent Liabilities [Line Items]
Commitments to Purchase Investment (excluding Commercial Mortgage Loans)	9,567	7,372
Expected to be funded from separate accounts
Commitments and Contingent Liabilities [Line Items]
Commitments to Purchase Investment (excluding Commercial Mortgage Loans)	336	49
Indemnification | Securities Lending and Securities Repurchase Transactions
Commitments and Contingent Liabilities [Line Items]
Indemnification provided to certain clients for securities lending and securities repurchase transactions	7,108	5,071
Fair value of related collateral associated with above indemnifications	7,254	5,204
Accrued Liability associated with guarantee	0	0
Indemnification | Securities Repurchase Transactions
Commitments and Contingent Liabilities [Line Items]
Indemnification provided to certain clients for securities lending and securities repurchase transactions	34	38
Fair value of related collateral associated with above indemnifications	34	37
Indemnification | Serviced Mortgage Loans
Commitments and Contingent Liabilities [Line Items]
Maximum exposure under indemnification agreements for mortgage loans serviced by the Company	2,684	2,113
First-loss exposure portion of above	784	622
Accrued Liability associated with guarantee	41	19
Allowance for credit losses	20
Change in allowace for credit losses	1
Guarantee of Asset Values
Commitments and Contingent Liabilities [Line Items]
Guaranteed value of third parties’ assets	86,264	80,009
Fair value of collateral supporting these assets	90,612	81,604
Asset (liability) associated with guarantee, carried at fair value	0	1
Other Guarantees
Commitments and Contingent Liabilities [Line Items]
Other guarantees where amount can be determined	52	55
Accrued Liability associated with guarantee	$ 0	$ 0

Commitments and Contingent Li_4

Commitments and Contingent Liabilities (Narrative Excluding Litigation) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Commitments | Commercial Mortgage Loans
Commitments and Contingent Liabilities [Line Items]
Allowance for credit losses	$ 0
Change in allowace for credit losses	(2)
Purchase Investments
Commitments and Contingent Liabilities [Line Items]
Change in allowace for credit losses	$ 0
Indemnification | Securities Lending and Securities Repurchase Transactions
Commitments and Contingent Liabilities [Line Items]
Guarantor Obligations, Liquidation Proceeds, Percentage	102.00%
Indemnification | Securities Repurchase Transactions
Commitments and Contingent Liabilities [Line Items]
Guarantor Obligations, Liquidation Proceeds, Percentage	95.00%
Indemnification | Serviced Mortgage Loans
Commitments and Contingent Liabilities [Line Items]
Allowance for credit losses	$ 20
Change in allowace for credit losses	1
Mortgages subject to loss-sharing arrangements	$ 21,465	$ 16,878
Weighted-average debt service coverage ratio of mortgages subject to loss-sharing arrangements	1.99	1.88
Weighted-average loan-to-value ratio of mortgages subject to loss-sharing arrangements	63.00%	61.00%
Losses related to indemnifications that were settled	$ 0	$ 0	$ 0
Indemnification | Minimum | Serviced Mortgage Loans
Commitments and Contingent Liabilities [Line Items]
Percentage share of losses incurred on certain loans serviced	4.00%
Indemnification | Maximum | Serviced Mortgage Loans
Commitments and Contingent Liabilities [Line Items]
Percentage share of losses incurred on certain loans serviced	20.00%
Yield maintenance guarantee
Commitments and Contingent Liabilities [Line Items]
Guarantees related to certain investments the Company sold	$ 9	$ 12

Commitments and Contingent Li_5

Commitments and Contingent Liabilities (Litigation Narrative) (Details) $ in Millions	1 Months Ended
	Dec. 31, 2017defendant	Dec. 31, 2020USD ($)	May 31, 2014defendant
Loss Contingencies [Line Items]
Estimate of possible losses in excess of accruals (less than) for litigation and regulatory matters | $		$ 250
Total Asset Recovery Services, LLC v. MetLife, Inc., and Prudential | Pending Litigation
Loss Contingencies [Line Items]
Loss Contingency, Number of Defendants	19
London Interbank Offered Rate (LIBOR) | Positive Outcome of Litigation
Loss Contingencies [Line Items]
Number of defendants in legal action filed by the company			10

Quarterly Results of Operatio_3

Quarterly Results of Operations (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Quarterly Financial Data [Abstract]
Total revenues	$ 16,029	$ 15,425	$ 12,115	$ 13,464	$ 19,223	$ 15,105	$ 15,388	$ 15,091	$ 57,033	$ 64,807	$ 62,992
Total benefits and expenses	15,129	13,978	14,447	13,802	17,879	13,380	14,512	13,951	57,356	59,722	58,158
Net income (loss)	1,022	1,507	(2,405)	(270)	1,138	1,425	738	937	(146)	4,238	4,088
Less: Income attributable to noncontrolling interests	203	20	4	1	10	7	30	5	228	52	14
Net income (loss) attributable to Prudential Financial, Inc.	$ 819	$ 1,487	$ (2,409)	$ (271)	$ 1,128	$ 1,418	$ 708	$ 932	$ (374)	$ 4,186	$ 4,074
Basic earnings per share-Common Stock:
Net income (loss) attributable to Prudential Financial, Inc. (in dollars per share)	$ 2.04	$ 3.72	$ (6.12)	$ (0.70)	$ 2.78	$ 3.47	$ 1.73	$ 2.25	$ (1)	$ 10.23	$ 9.64
Diluted earnings per share-Common Stock:
Net income (loss) attributable to Prudential Financial, Inc. (in dollars per share)	$ 2.03	$ 3.70	$ (6.12)	$ (0.70)	$ 2.76	$ 3.44	$ 1.71	$ 2.22	$ (1)	$ 10.11	$ 9.50

Subsequent Events (Narrative) (

Subsequent Events (Narrative) (Details) - USD ($) $ / shares in Units, $ in Billions	Feb. 04, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Subsequent Event [Line Items]
Dividends declared per share of Common Stock (in dollars per share)		$ 4.40	$ 4	$ 3.60
Subsequent Event
Subsequent Event [Line Items]
Dividends declared per share of Common Stock (in dollars per share)	$ 1.15
Stock Repurchase Program, Authorized Amount	$ 1.5

Schedule I - Summary of Inves_2

Schedule I - Summary of Investments Other Than investments in Related Parties (Details) - USD ($) $ in Millions		Dec. 31, 2020		Dec. 31, 2019
Schedule of Investments [Line Items]
Commercial mortgage and other loans	[2]	$ 65,425	[1]	$ 63,559
Amortized Cost, AFS, FM		354,470		346,574
Fixed Maturities, Available for Sale, Fair Value	[2]	412,905		391,096
Amortized Cost, HTM, FM	[2]	1,930	[1]	1,933
Fixed maturities, held-to-maturity, fair value		2,298		2,302
Equity securities, Fair Value	[2]	8,135		7,522
Fixed Maturities, Trading, Amortized Cost		3,670		3,917
Fixed maturities, trading, at fair value	[2]	3,914		3,884
Commercial mortgage and other loans		65,425		63,559
Policy loans		11,271		12,096
Short term investments, allowance for credit losses		7,800
Other invested assets	[2]	18,125	[1]	15,606
Total Investment at Cost		492,783
Total investment		553,620		522,760
Fixed Maturities
Schedule of Investments [Line Items]
Amortized Cost, AFS, FM		354,470		346,574
Fixed Maturities, Available for Sale, Fair Value		412,905		391,096
Amortized Cost, HTM, FM		1,939		1,933
Fixed maturities, held-to-maturity, fair value		2,298		2,302
Fixed maturities securities, HTM, AC in BS		1,930
Equity securities
Schedule of Investments [Line Items]
Equity securities, at cost		5,968
Equity securities, Fair Value		8,135
Available-for-sale | Fixed Maturities
Schedule of Investments [Line Items]
Amortized Cost, AFS, FM		354,470
Fixed Maturities, Available for Sale, Fair Value		412,905
Held-to-maturity | Fixed Maturities
Schedule of Investments [Line Items]
Amortized Cost, HTM, FM		1,939
Fixed maturities, held-to-maturity, fair value		2,298
Fixed maturities securities, HTM, AC in BS		1,930
Trading | Fixed Maturities
Schedule of Investments [Line Items]
Fixed Maturities, Trading, Amortized Cost		3,670
Fixed maturities, trading, at fair value		3,914
U.S. Treasury securities and obligations of U.S. government authorities and agencies | Fixed Maturities
Schedule of Investments [Line Items]
Amortized Cost, AFS, FM		30,766		30,625
Fixed Maturities, Available for Sale, Fair Value		40,448		35,659
U.S. Treasury securities and obligations of U.S. government authorities and agencies | Available-for-sale | Fixed Maturities
Schedule of Investments [Line Items]
Amortized Cost, AFS, FM		30,766
Fixed Maturities, Available for Sale, Fair Value		40,448
Obligations of U.S. states and their political subdivisions | Fixed Maturities
Schedule of Investments [Line Items]
Amortized Cost, AFS, FM		10,668		10,068
Fixed Maturities, Available for Sale, Fair Value		12,811		11,497
Obligations of U.S. states and their political subdivisions | Available-for-sale | Fixed Maturities
Schedule of Investments [Line Items]
Amortized Cost, AFS, FM		10,668
Fixed Maturities, Available for Sale, Fair Value		12,811
Foreign governments | Available-for-sale | Fixed Maturities
Schedule of Investments [Line Items]
Amortized Cost, AFS, FM		94,110
Fixed Maturities, Available for Sale, Fair Value		110,244
Asset-backed securities | Fixed Maturities
Schedule of Investments [Line Items]
Amortized Cost, AFS, FM		14,489		13,067
Fixed Maturities, Available for Sale, Fair Value		14,591		13,174
Asset-backed securities | Available-for-sale | Fixed Maturities
Schedule of Investments [Line Items]
Amortized Cost, AFS, FM		14,489
Fixed Maturities, Available for Sale, Fair Value		14,591
Residential mortgage-backed securities | Fixed Maturities
Schedule of Investments [Line Items]
Amortized Cost, AFS, FM		2,683		3,044
Fixed Maturities, Available for Sale, Fair Value		2,887		3,201
Amortized Cost, HTM, FM		266		310
Fixed maturities, held-to-maturity, fair value		286		331
Fixed maturities securities, HTM, AC in BS		266
Residential mortgage-backed securities | Available-for-sale | Fixed Maturities
Schedule of Investments [Line Items]
Amortized Cost, AFS, FM		2,683
Fixed Maturities, Available for Sale, Fair Value		2,887
Residential mortgage-backed securities | Held-to-maturity | Fixed Maturities
Schedule of Investments [Line Items]
Amortized Cost, HTM, FM		266
Fixed maturities, held-to-maturity, fair value		286
Fixed maturities securities, HTM, AC in BS		266
Commercial Mortgage Backed Securities | Fixed Maturities
Schedule of Investments [Line Items]
Amortized Cost, AFS, FM		15,036		14,978
Fixed Maturities, Available for Sale, Fair Value		16,303		15,574
Commercial Mortgage Backed Securities | Available-for-sale | Fixed Maturities
Schedule of Investments [Line Items]
Amortized Cost, AFS, FM		15,036
Fixed Maturities, Available for Sale, Fair Value		16,303
Public utilities | Available-for-sale | Fixed Maturities
Schedule of Investments [Line Items]
Amortized Cost, AFS, FM		28,067
Fixed Maturities, Available for Sale, Fair Value		33,275
All other corporate bonds | Available-for-sale | Fixed Maturities
Schedule of Investments [Line Items]
Amortized Cost, AFS, FM		158,212
Fixed Maturities, Available for Sale, Fair Value		181,821
All other corporate bonds | Held-to-maturity | Fixed Maturities
Schedule of Investments [Line Items]
Amortized Cost, HTM, FM		738
Fixed maturities, held-to-maturity, fair value		807
Fixed maturities securities, HTM, AC in BS		729
Redeemable preferred stock | Available-for-sale | Fixed Maturities
Schedule of Investments [Line Items]
Amortized Cost, AFS, FM		439
Fixed Maturities, Available for Sale, Fair Value		525
Foreign government bonds | Fixed Maturities
Schedule of Investments [Line Items]
Amortized Cost, AFS, FM		94,110		98,356
Fixed Maturities, Available for Sale, Fair Value		110,244		119,054
Amortized Cost, HTM, FM		935		891
Fixed maturities, held-to-maturity, fair value		1,205		$ 1,173
Fixed maturities securities, HTM, AC in BS		935
Foreign government bonds | Held-to-maturity | Fixed Maturities
Schedule of Investments [Line Items]
Amortized Cost, HTM, FM		935
Fixed maturities, held-to-maturity, fair value		1,205
Fixed maturities securities, HTM, AC in BS		935
Other common stocks | Equity securities
Schedule of Investments [Line Items]
Equity securities, at cost		3,722
Equity securities, Fair Value		5,371
Mutual funds | Equity securities
Schedule of Investments [Line Items]
Equity securities, at cost		2,003
Equity securities, Fair Value		2,456
Nonredeemable preferred stock | Equity securities
Schedule of Investments [Line Items]
Equity securities, at cost		60
Equity securities, Fair Value		76
Perpetual preferred stock | Equity securities
Schedule of Investments [Line Items]
Equity securities, at cost		183
Equity securities, Fair Value		232
Assets supporting experience-rated contractholder liabilities
Schedule of Investments [Line Items]
Assets supporting experience-rated contractholder liabilities		24,115
Commercial mortgage and agricultural properties loans and other collateralized loans
Schedule of Investments [Line Items]
Commercial mortgage and other loans		64,775
Uncollateralized loans
Schedule of Investments [Line Items]
Commercial mortgage and other loans		$ 650
[1]	December 31, 2020 amounts include the impacts of the January 1, 2020 adoption of ASU 2016-13. See Note 2 for details.
[2]	See Note 4 for details of balances associated with variable interest entities.

Schedule II - Condensed Finan_2

Schedule II - Condensed Financial Information of Registrant (Condensed Statements of Financial Position) (Details) - USD ($) $ / shares in Units, $ in Millions		Dec. 31, 2020		Dec. 31, 2019		Dec. 31, 2018	Dec. 31, 2017
ASSETS
Fixed maturities, available for sale, at fair value (amortized cost: 2020- $1,529; 2019- $1,643)	[1]	$ 412,905		$ 391,096
Equity securities, at fair value (cost: 2020- $25; 2019- $25)	[1]	8,135		7,522
Other invested assets	[1]	18,125	[2]	15,606
Total investment		553,620		522,760
Cash and cash equivalents		13,701	[1]	16,327	[1]	$ 15,353
Investment in subsidiaries		1,394		1,309		$ 1,329
Other assets	[1]	22,801	[2]	20,832
TOTAL ASSETS		940,722		896,552
LIABILITIES
Short-term debt		925	[2]	1,933
Long-term debt		19,718		18,646
Other liabilities		20,323		20,802
Total liabilities		872,512		832,833
EQUITY
Preferred Stock ($0.01 par value; 10,000,000 shares authorized; none issued)		0		0
Common Stock ($0.01 par value; 1,500,000,000 shares authorized; 666,305,189 shares issued as of December 31, 2020 and December 31, 2019)		6		6
Additional paid-in capital		25,584		25,532
Common Stock held in treasury, at cost (269,867,738 and 267,472,781 shares as of December 31, 2020 and 2019, respectively)		(19,652)		(19,453)
Accumulated other comprehensive income (loss)		30,738		24,039
Retained earnings		30,749		32,991
Total equity		67,425		63,115
Total liabilities and equity		940,722		896,552
Debt Securities, Available-for-sale, Amortized Cost		$ 354,470		$ 346,574
Preferred Stock, par value (in dollars per share)		$ 0.01		$ 0.01
Preferred Stock, Shares Authorized		10,000,000		10,000,000		10,000,000
Preferred Stock, Shares Issued		0		0
Common Stock, par value (in dollars per share)		$ 0.01		$ 0.01
Common Stock, Shares Authorized		1,500,000,000		1,500,000,000
Common Stock, Shares, Issued		666,305,189		666,305,189
Treasury Stock, Shares		269,867,738		267,472,781
Prudential Financial
ASSETS
Investment contracts from subsidiaries		$ 1		$ 1
Fixed maturities, available for sale, at fair value (amortized cost: 2020- $1,529; 2019- $1,643)		1,648		1,697
Equity securities, at fair value (cost: 2020- $25; 2019- $25)		25		25
Other invested assets		3,876		2,326
Total investment		5,550		4,049
Cash and cash equivalents		1,062		1,162		$ 1,327	$ 1,677
Due from subsidiaries		2,023		1,670
Loans receivable from subsidiaries		8,027		7,151
Investment in subsidiaries		78,345		76,101
Property, plant and equipment		446		471
Income taxes receivable		467		540
Other assets		116		101
TOTAL ASSETS		96,036		91,245
LIABILITIES
Due to subsidiaries		3,290		2,560
Loans payable to subsidiaries		5,526		6,110
Short-term debt		424		1,204
Long-term debt		18,561		17,430
Other liabilities		810		826
Total liabilities		28,611		28,130
EQUITY
Preferred Stock ($0.01 par value; 10,000,000 shares authorized; none issued)		0		0
Common Stock ($0.01 par value; 1,500,000,000 shares authorized; 666,305,189 shares issued as of December 31, 2020 and December 31, 2019)		6		6
Additional paid-in capital		25,584		25,532
Common Stock held in treasury, at cost (269,867,738 and 267,472,781 shares as of December 31, 2020 and 2019, respectively)		(19,652)		(19,453)
Accumulated other comprehensive income (loss)		30,738		24,039
Retained earnings		30,749		32,991
Total equity		67,425		63,115
Total liabilities and equity		96,036		91,245
Debt Securities, Available-for-sale, Amortized Cost		1,529		1,643
Equity securities, at cost		$ 25		$ 25
Preferred Stock, par value (in dollars per share)		$ 0.01		$ 0.01
Preferred Stock, Shares Authorized		10,000,000		10,000,000
Preferred Stock, Shares Issued		0		0
Common Stock, par value (in dollars per share)		$ 0.01		$ 0.01
Common Stock, Shares Authorized		1,500,000,000		1,500,000,000
Common Stock, Shares, Issued		666,305,189		666,305,189
Treasury Stock, Shares		269,867,738		267,472,781
[1]	See Note 4 for details of balances associated with variable interest entities.
[2]	December 31, 2020 amounts include the impacts of the January 1, 2020 adoption of ASU 2016-13. See Note 2 for details.

Schedule II - Condensed Finan_3

Schedule II - Condensed Financial Information of Registrant (Condensed Statements of Operations) (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
REVENUES
Net investment income									$ 17,410	$ 17,585	$ 16,176
Realized investment gains (losses), net									(3,887)	(459)	1,977
Other income (loss)									1,950	3,262	(1,042)
Total revenues	$ 16,029	$ 15,425	$ 12,115	$ 13,464	$ 19,223	$ 15,105	$ 15,388	$ 15,091	57,033	64,807	62,992
EXPENSES
Interest expense									1,574	1,550	1,420
Income (loss) before income taxes and equity in earnings of operating joint ventures									(323)	5,085	4,834
Total income tax expense (benefit)									(81)	947	822
INCOME (LOSS) BEFORE EQUITY IN EARNINGS OF OPERATING JOINT VENTURES									(242)	4,138	4,012
Equity in earnings of subsidiaries									96	100	76
NET INCOME (LOSS) ATTRIBUTABLE TO PRUDENTIAL FINANCIAL, INC.	$ 819	$ 1,487	$ (2,409)	$ (271)	$ 1,128	$ 1,418	$ 708	$ 932	(374)	4,186	4,074
Comprehensive income (loss) attributable to Prudential Financial, Inc.									6,325	17,312	(2,900)
Prudential Financial
REVENUES
Net investment income									97	203	168
Realized investment gains (losses), net									(262)	(250)	106
Affiliated interest revenue									345	362	374
Other income (loss)									110	21	(7)
Total revenues									290	336	641
EXPENSES
General and administrative expenses									273	92	126
Interest expense									1,157	1,161	1,087
Total expenses									1,430	1,253	1,213
Income (loss) before income taxes and equity in earnings of operating joint ventures									(1,140)	(917)	(572)
Total income tax expense (benefit)									(357)	(223)	(130)
INCOME (LOSS) BEFORE EQUITY IN EARNINGS OF OPERATING JOINT VENTURES									(783)	(694)	(442)
Equity in earnings of subsidiaries									409	4,880	4,516
NET INCOME (LOSS) ATTRIBUTABLE TO PRUDENTIAL FINANCIAL, INC.									(374)	4,186	4,074
Other Comprehensive Income (loss)									6,699	13,126	(6,974)
Comprehensive income (loss) attributable to Prudential Financial, Inc.									$ 6,325	$ 17,312	$ (2,900)

Schedule II - Condensed Finan_4

Schedule II - Condensed Financial Information of Registrant (Condensed Statements of Cash Flow) (Details) - USD ($) $ in Millions	3 Months Ended											12 Months Ended
	Dec. 31, 2020		Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020		Dec. 31, 2019		Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020		Dec. 31, 2019		Dec. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$ 1,022		$ 1,507	$ (2,405)	$ (270)		$ 1,138		$ 1,425	$ 738	$ 937	$ (146)		$ 4,238		$ 4,088
Adjustments to reconcile net income to cash provided by operating activities:
Realized investment (gains) losses, net												3,887		459		(1,977)
Dividends received from subsidiaries												60		70		93
Change in:
Other, operating												(3,884)		1,671		680
Cash flows from (used in) operating activities												8,368		19,625		21,664
Proceeds from the sale/maturity of:
Fixed maturities, available-for-sale												44,106		52,306		59,675
Short-term investments												47,339		38,095		33,846
Payments for the purchase of:
Fixed maturities, available-for-sale												(56,523)		(64,570)		(77,234)
Short-term investments												(49,802)		(37,286)		(33,336)
Other, investing												(278)		(437)		(188)
Cash flows from (used in) investing activities												(16,210)		(17,028)		(21,628)
CASH FLOWS FROM FINANCING ACTIVITIES
Cash dividends paid on Common Stock												(1,766)		(1,641)		(1,521)
Common Stock acquired												(500)		(2,500)		(1,500)
Common Stock reissued for exercise of stock options												153		133		132
Proceeds from the issuance of debt (maturities longer than 90 days)												3,013		2,993		2,934
Repayments of debt (maturities longer than 90 days)												(2,743)		(1,429)		(1,810)
Net change in financing arrangements (maturities 90 days or less)												(21)		(181)		199
Other, financing												(456)		(181)		(282)
Cash flows from (used in) financing activities												4,883		(1,634)		781
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR					16,327	[1]					15,353	16,327	[1]	15,353
CASH AND CASH EQUIVALENTS, END OF YEAR	13,701	[1]					16,327	[1]				13,701	[1]	16,327	[1]	15,353
SUPPLEMENTAL CASH FLOW INFORMATION
Cash paid (refunds received) during the period for taxes												287		1,348		760
Acquisitions
Treasury Stock shares issued														454
Prudential Financial
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)												(374)		4,186		4,074
Adjustments to reconcile net income to cash provided by operating activities:
Equity in earnings of subsidiaries												(409)		(4,880)		(4,516)
Realized investment (gains) losses, net												262		250		(106)
Dividends received from subsidiaries												4,042		2,269		2,975
Property, plant and equipment												(1)		0		(4)
Change in:
Due to/from subsidiaries, net												649		669		(1)
Other, operating												359		(229)		115
Cash flows from (used in) operating activities												4,528		2,265		2,537
Proceeds from the sale/maturity of:
Fixed maturities, available-for-sale												412		371		234
Short-term investments												18,489		21,700		18,708
Payments for the purchase of:
Equity securities, at fair value												0		0		(25)
Fixed maturities, available-for-sale												(298)		(660)		(370)
Short-term investments												(20,039)		(20,486)		(19,914)
Capital contributions to subsidiaries												(386)		(593)		(874)
Returns of capital contributions from subsidiaries												813		1,013		1,083
Net cash paid on acquisition												0		(1,758)		0
Loans to subsidiaries, net of maturities												(876)		(108)		803
Other, investing												0		0		0
Cash flows from (used in) investing activities												(1,885)		(521)		(355)
CASH FLOWS FROM FINANCING ACTIVITIES
Cash dividends paid on Common Stock												(1,766)		(1,641)		(1,521)
Common Stock acquired												(500)		(2,500)		(1,500)
Common Stock reissued for exercise of stock options												153		133		132
Proceeds from the issuance of debt (maturities longer than 90 days)												2,768		2,465		2,531
Repayments of debt (maturities longer than 90 days)												(2,467)		(1,114)		(1,443)
Repayments of loans from subsidiaries												(1,023)		(7)		(728)
Proceeds from loans payable to subsidiaries												166		818		99
Net change in financing arrangements (maturities 90 days or less)												0		9		(36)
Other, financing												(74)		(72)		(66)
Cash flows from (used in) financing activities												(2,743)		(1,909)		(2,532)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS												(100)		(165)		(350)
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR					$ 1,162						$ 1,327	1,162		1,327		1,677
CASH AND CASH EQUIVALENTS, END OF YEAR	1,062						1,162					1,062		1,162		1,327
SUPPLEMENTAL CASH FLOW INFORMATION
Cash paid during the period for interest												1,088		1,084		1,014
Cash paid (refunds received) during the period for taxes												(482)		(103)		(231)
NON-CASH TRANSACTIONS DURING THE YEAR
Non-cash capital contributions to subsidiaries												(1)		(596)		(22)
Non-cash dividends/returns of capital from subsidiaries												470		1		101
Treasury Stock shares issued for stock-based compensation programs												0		197		138
Acquisitions
Net cash paid on acquisition												0		(1,758)		0
Acquisition
Payments for the purchase of:
Net cash paid on acquisition												0		1,755		0
Acquisitions
Assets acquired												0		2,425		0
Liabilities assumed	0						216					0		216		0
Treasury Stock shares issued												0		454		0
Net cash paid on acquisition												0		1,755		0
Acquisition | Prudential Financial
Payments for the purchase of:
Net cash paid on acquisition												0		1,758		0
Acquisitions
Assets acquired												0		2,428		0
Liabilities assumed	$ 0						$ 216					0		216		0
Treasury Stock shares issued												0		454		0
Net cash paid on acquisition												$ 0		$ 1,758		$ 0
[1]	See Note 4 for details of balances associated with variable interest entities.

Schedule II - Condensed Finan_5

Schedule II - Condensed Financial Information of Registrant (Short and Long-Term Debt) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020		Dec. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Short-term debt	$ 925,000	[1]	$ 1,933,000
Long-term debt	$ 19,718,000		$ 18,646,000
Commercial Paper, Weighted Average Interest Rate	0.11%		1.61%
Interest expense	$ 1,574,000		$ 1,550,000	$ 1,420,000
Senior notes
Debt Instrument [Line Items]
Short-term debt	399,000		1,179,000
Commercial Paper
Debt Instrument [Line Items]
Short-term debt	380,000		549,000
Current portion of long-term debt
Debt Instrument [Line Items]
Short-term debt	1,027,000		1,371,000
Prudential Financial
Debt Instrument [Line Items]
Short-term debt	424,000		1,204,000
Long-term debt	18,561,000		17,430,000
Interest expense	1,157,000		1,161,000	1,087,000
Prudential Financial | Derivatives
Debt Instrument [Line Items]
Interest expense	400		300	$ 300
Prudential Financial | Commercial Paper
Debt Instrument [Line Items]
Short-term debt	$ 25,000		$ 25,000
Commercial Paper, Weighted Average Interest Rate	0.12%		1.71%
Prudential Financial | Current portion of long-term debt
Debt Instrument [Line Items]
Short-term debt	$ 399,000		$ 1,179,000
Prudential Financial | Junior subordinated debt
Debt Instrument [Line Items]
Long-term debt	$ 7,554,000		7,518,000
Prudential Financial | Minimum | Junior subordinated debt
Debt Instrument [Line Items]
Interest Rate	3.70%
Prudential Financial | Maximum | Junior subordinated debt
Debt Instrument [Line Items]
Interest Rate	5.88%
Fixed rate | Prudential Financial | Senior notes
Debt Instrument [Line Items]
Long-term debt	$ 11,007,000		$ 9,912,000
Fixed rate | Prudential Financial | Minimum | Senior notes
Debt Instrument [Line Items]
Interest Rate	1.50%
Fixed rate | Prudential Financial | Maximum | Senior notes
Debt Instrument [Line Items]
Interest Rate	6.75%
[1]	December 31, 2020 amounts include the impacts of the January 1, 2020 adoption of ASU 2016-13. See Note 2 for details.

Schedule II - Condensed Finan_6

Schedule II - Condensed Financial Information of Registrant (Contractual Maturities for Long-Term Debt) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
2021	$ 136
2022	572
2023	724
2024	348
2025 and thereafter	17,938
Long-term debt	19,718	$ 18,646
Prudential Financial
Debt Instrument [Line Items]
2021	0
2022	0
2023	700
2024	0
2025 and thereafter	17,861
Long-term debt	$ 18,561	$ 17,430

Schedule II - Condensed Finan_7

Schedule II - Condensed Financial Information of Registrant (Dividends and Returns of Capital) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Prudential of Korea
Condensed Financial Statements, Captions [Line Items]
Proceeds from Dividends Received	$ 1,627
Prudential Financial
Condensed Financial Statements, Captions [Line Items]
Dividends or Returns of Capital received by Parent Company from Subsidiaries	4,854	$ 3,282	$ 4,058
Prudential Annuities Holding Company | Prudential Financial
Condensed Financial Statements, Captions [Line Items]
Dividends or Returns of Capital received by Parent Company from Subsidiaries	120	163	175
International Insurance and Investments Holding Companies(1) | Prudential Financial
Condensed Financial Statements, Captions [Line Items]
Dividends or Returns of Capital received by Parent Company from Subsidiaries	3,061	1,065	2,270
Prudential Insurance Company of America | Prudential Financial
Condensed Financial Statements, Captions [Line Items]
Dividends or Returns of Capital received by Parent Company from Subsidiaries	500	600	0
PGIM Holding Company | Prudential Financial
Condensed Financial Statements, Captions [Line Items]
Dividends or Returns of Capital received by Parent Company from Subsidiaries	399	462	578
Prudential Annuities Life Assurance Corporation | Prudential Financial
Condensed Financial Statements, Captions [Line Items]
Dividends or Returns of Capital received by Parent Company from Subsidiaries	760	978	1,025
Other Holding Companies | Prudential Financial
Condensed Financial Statements, Captions [Line Items]
Dividends or Returns of Capital received by Parent Company from Subsidiaries	$ 14	$ 14	$ 10

Schedule II - Condensed Finan_8

Schedule II - Condensed Financial Information of Registrant (Narratives) (Details) ₩ in Trillions	12 Months Ended
	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Aug. 31, 2020USD ($)	Aug. 31, 2020KRW (₩)	Oct. 31, 2019USD ($)	Dec. 31, 2013USD ($)
Schedule II Narrative [Line Items]
Increase (Decrease) In Interest Expense, Derivative Instruments	$ 1,574,000,000	$ 1,550,000,000	$ 1,420,000,000
Discontinued Operations, Held-for-sale | The Prudential Life Insurance Company of Korea, Ltd.
Schedule II Narrative [Line Items]
Cash considerations for sale of a business				$ 1,900,000,000	₩ 2.3
Acquisition of Assurance IQ, Inc.
Schedule II Narrative [Line Items]
Transaction costs						$ 1,758,000,000
Prudential Financial
Schedule II Narrative [Line Items]
Increase (Decrease) In Interest Expense, Derivative Instruments	1,157,000,000	1,161,000,000	1,087,000,000
Derivatives | Prudential Financial
Schedule II Narrative [Line Items]
Increase (Decrease) In Interest Expense, Derivative Instruments	400,000	$ 300,000	$ 300,000
Commercial Paper | Prudential Financial
Schedule II Narrative [Line Items]
Guarantee obligation	354,000,000
Investee Debt | Prudential Financial
Schedule II Narrative [Line Items]
Guarantee obligation	$ 3,800,000,000
Commitments to Extend Credit | Prudential Financial
Schedule II Narrative [Line Items]
Guarantee obligation							$ 500,000,000

Schedule II - Condensed Finan_9

Schedule II - Condensed Financial Information of Registrant Schedule II - Condensed Financial Information of Registrant (Organization and Presentation) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Condensed Cash Flow Statements, Captions [Line Items]
Treasury Stock shares issued		$ 454
Prudential Financial
Condensed Cash Flow Statements, Captions [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired	$ 0	(1,758)	$ 0
Acquisition
Condensed Cash Flow Statements, Captions [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired	0	1,755	0
Treasury Stock shares issued	0	454	0
Acquisition | Prudential Financial
Condensed Cash Flow Statements, Captions [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired	0	1,758	0
Treasury Stock shares issued	$ 0	$ 454	$ 0

Schedule III - Supplementary _2

Schedule III - Supplementary Insurance Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Line Items]
Deferred Policy Acquisition Costs	$ 19,027	$ 19,912	$ 20,058
Future Policy Benefits, Losses, Claims Expenses	306,002	293,199	273,526
Unearned Premiums	341	328	320
Other Policy Claims and Benefits Payable	171,206	159,098	154,448
Premiums, Policy Charges and Fee Income	37,169	40,180	41,781
Net Investment Income	17,410	17,585	16,176
Benefits, Claims, Losses and Settlement Expenses	41,222	43,974	43,936
Amortization of DAC	2,221	2,332	2,273
Other Operating Expenses	13,913	13,416	11,949
Total U.S. Workplace Solutions division
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Line Items]
Deferred Policy Acquisition Costs	290	300	311
Future Policy Benefits, Losses, Claims Expenses	74,095	72,648	69,441
Unearned Premiums	246	242	236
Other Policy Claims and Benefits Payable	62,838	57,634	56,855
Premiums, Policy Charges and Fee Income	11,702	14,514	16,576
Net Investment Income	5,251	5,344	4,998
Benefits, Claims, Losses and Settlement Expenses	14,985	17,795	18,732
Amortization of DAC	25	36	44
Other Operating Expenses	2,013	2,075	2,027
Total U.S. Individual Solutions division
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Line Items]
Deferred Policy Acquisition Costs	10,885	10,809	11,087
Future Policy Benefits, Losses, Claims Expenses	42,387	32,568	25,377
Unearned Premiums	0	0	0
Other Policy Claims and Benefits Payable	41,482	37,675	36,678
Premiums, Policy Charges and Fee Income	5,746	5,831	5,777
Net Investment Income	3,177	3,122	2,723
Benefits, Claims, Losses and Settlement Expenses	4,925	4,358	3,963
Amortization of DAC	887	1,020	1,011
Other Operating Expenses	4,030	3,949	3,731
Assurance IQ division
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Line Items]
Deferred Policy Acquisition Costs	0	0
Future Policy Benefits, Losses, Claims Expenses	0	0
Unearned Premiums	0	0
Other Policy Claims and Benefits Payable	0	0
Premiums, Policy Charges and Fee Income	0	0
Net Investment Income	2	0
Benefits, Claims, Losses and Settlement Expenses	0	0
Amortization of DAC	0	0
Other Operating Expenses	533	151
Total U.S. Businesses
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Line Items]
Deferred Policy Acquisition Costs	11,175	11,109	11,398
Future Policy Benefits, Losses, Claims Expenses	116,482	105,216	94,818
Unearned Premiums	246	242	236
Other Policy Claims and Benefits Payable	104,320	95,309	93,533
Premiums, Policy Charges and Fee Income	17,448	20,345	22,353
Net Investment Income	8,430	8,466	7,721
Benefits, Claims, Losses and Settlement Expenses	19,910	22,153	22,695
Amortization of DAC	912	1,056	1,055
Other Operating Expenses	6,576	6,175	5,758
Total PFI excluding Closed Block division
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Line Items]
Deferred Policy Acquisition Costs	18,818	19,677	19,794
Future Policy Benefits, Losses, Claims Expenses	259,240	245,585	225,244
Unearned Premiums	341	328	320
Other Policy Claims and Benefits Payable	156,911	147,259	145,425
Premiums, Policy Charges and Fee Income	35,187	37,973	39,480
Net Investment Income	15,170	15,262	13,888
Benefits, Claims, Losses and Settlement Expenses	36,789	38,751	39,596
Amortization of DAC	2,195	2,303	2,238
Other Operating Expenses	13,582	13,063	11,585
PGIM | PGIM
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Line Items]
Deferred Policy Acquisition Costs	0	0	0
Future Policy Benefits, Losses, Claims Expenses	0	0	0
Unearned Premiums	0	0	0
Other Policy Claims and Benefits Payable	0	0	0
Premiums, Policy Charges and Fee Income	0	0	0
Net Investment Income	304	200	73
Benefits, Claims, Losses and Settlement Expenses	0	0	0
Amortization of DAC	8	6	8
Other Operating Expenses	2,637	2,520	2,298
Retirement | Total U.S. Workplace Solutions division
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Line Items]
Deferred Policy Acquisition Costs	141	144	153
Future Policy Benefits, Losses, Claims Expenses	68,919	67,783	64,750
Unearned Premiums	0	0	0
Other Policy Claims and Benefits Payable	55,368	49,047	47,766
Premiums, Policy Charges and Fee Income	6,531	9,490	11,582
Net Investment Income	4,735	4,721	4,394
Benefits, Claims, Losses and Settlement Expenses	10,115	13,251	14,209
Amortization of DAC	17	29	39
Other Operating Expenses	1,089	1,160	1,100
Group Insurance | Total U.S. Workplace Solutions division
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Line Items]
Deferred Policy Acquisition Costs	149	156	158
Future Policy Benefits, Losses, Claims Expenses	5,176	4,865	4,691
Unearned Premiums	246	242	236
Other Policy Claims and Benefits Payable	7,470	8,587	9,089
Premiums, Policy Charges and Fee Income	5,171	5,024	4,994
Net Investment Income	516	623	604
Benefits, Claims, Losses and Settlement Expenses	4,870	4,544	4,523
Amortization of DAC	8	7	5
Other Operating Expenses	924	915	927
Individual Annuities | Total U.S. Individual Solutions division
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Line Items]
Deferred Policy Acquisition Costs	4,689	4,973	4,984
Future Policy Benefits, Losses, Claims Expenses	21,325	15,151	11,057
Unearned Premiums	0	0	0
Other Policy Claims and Benefits Payable	12,383	9,529	8,886
Premiums, Policy Charges and Fee Income	2,399	2,748	2,792
Net Investment Income	898	854	683
Benefits, Claims, Losses and Settlement Expenses	664	680	734
Amortization of DAC	481	321	658
Other Operating Expenses	1,771	1,869	1,824
Individual Life | Total U.S. Individual Solutions division
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Line Items]
Deferred Policy Acquisition Costs	6,196	5,836	6,103
Future Policy Benefits, Losses, Claims Expenses	21,062	17,417	14,320
Unearned Premiums	0	0	0
Other Policy Claims and Benefits Payable	29,099	28,146	27,792
Premiums, Policy Charges and Fee Income	3,347	3,083	2,985
Net Investment Income	2,279	2,268	2,040
Benefits, Claims, Losses and Settlement Expenses	4,261	3,678	3,229
Amortization of DAC	406	699	353
Other Operating Expenses	2,259	2,080	1,907
Assurance IQ | Assurance IQ division
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Line Items]
Deferred Policy Acquisition Costs	0	0
Future Policy Benefits, Losses, Claims Expenses	0	0
Unearned Premiums	0	0
Other Policy Claims and Benefits Payable	0	0
Premiums, Policy Charges and Fee Income	0	0
Net Investment Income	2	0
Benefits, Claims, Losses and Settlement Expenses	0	0
Amortization of DAC	0	0
Other Operating Expenses	533	151
International Businesses | International Businesses
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Line Items]
Deferred Policy Acquisition Costs	7,668	7,442	7,234
Future Policy Benefits, Losses, Claims Expenses	128,682	117,298	109,136
Unearned Premiums	94	86	84
Other Policy Claims and Benefits Payable	51,476	49,599	48,873
Premiums, Policy Charges and Fee Income	16,155	15,604	15,120
Net Investment Income	4,973	4,916	4,616
Benefits, Claims, Losses and Settlement Expenses	14,676	14,122	13,103
Amortization of DAC	1,239	1,144	1,108
Other Operating Expenses	2,809	2,861	2,543
Corporate and Other
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Line Items]
Deferred Policy Acquisition Costs	(25)	1,126	1,162
Future Policy Benefits, Losses, Claims Expenses	14,076	23,071	21,290
Unearned Premiums	1	0	0
Other Policy Claims and Benefits Payable	1,115	2,351	3,019
Premiums, Policy Charges and Fee Income	1,584	2,024	2,007
Net Investment Income	1,463	1,679	1,478
Benefits, Claims, Losses and Settlement Expenses	2,203	2,476	3,797
Amortization of DAC	36	97	67
Other Operating Expenses	1,560	1,507	986
Closed Block division
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Line Items]
Deferred Policy Acquisition Costs	209	235	264
Future Policy Benefits, Losses, Claims Expenses	46,762	47,614	48,282
Unearned Premiums	0	0	0
Other Policy Claims and Benefits Payable	14,295	11,839	9,023
Premiums, Policy Charges and Fee Income	1,982	2,207	2,301
Net Investment Income	2,240	2,323	2,288
Benefits, Claims, Losses and Settlement Expenses	4,433	5,223	4,340
Amortization of DAC	26	29	35
Other Operating Expenses	$ 331	$ 353	$ 364

Schedule IV - Reinsurance (Deta

Schedule IV - Reinsurance (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Reinsurance Face Amount/Premiums for Insurance Companies, by Product Segment [Line Items]
Gross Amount	$ 4,015,943	$ 4,123,019	$ 3,985,589
Ceded to Other Companies	887,028	862,460	791,354
Assumed from Other Companies	180,343	188,576	197,343
Net Amount	$ 3,309,258	$ 3,449,135	$ 3,391,578
Percentage of Amount Assumed to Net	5.40%	5.50%	5.80%
Gross Amount	$ 29,091	$ 33,260	$ 35,048
Ceded to Other Companies	2,287	2,080	1,843
Assumed from Other Companies	4,336	3,022	2,574
Premiums	$ 31,140	$ 34,202	$ 35,779
Percentage of Amount Assumed to Net	13.90%	8.80%	7.20%
Life Insurance
Reinsurance Face Amount/Premiums for Insurance Companies, by Product Segment [Line Items]
Gross Amount	$ 26,197	$ 30,333	$ 32,248
Ceded to Other Companies	2,199	1,990	1,792
Assumed from Other Companies	4,336	3,022	2,574
Premiums	$ 28,334	$ 31,365	$ 33,030
Percentage of Amount Assumed to Net	15.30%	9.60%	7.80%
Accident and Health Insurance
Reinsurance Face Amount/Premiums for Insurance Companies, by Product Segment [Line Items]
Gross Amount	$ 2,894	$ 2,927	$ 2,800
Ceded to Other Companies	88	90	51
Assumed from Other Companies	0	0	0
Premiums	$ 2,806	$ 2,837	$ 2,749
Percentage of Amount Assumed to Net	0.00%	0.00%	0.00%