Equitable (EQH) 10-Q 5 Nov 20 2020 Q3 Quarterly report Financial data

COVER

COVER - shares	9 Months Ended
	Sep. 30, 2020	Nov. 03, 2020
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2020
Document Transition Report	false
Entity File Number	001-38469
Entity Registrant Name	Equitable Holdings, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	90-0226248
Entity Address, Address Line One	1290 Avenue of the Americas
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10104
City Area Code	212
Local Phone Number	554-1234
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		444,684,279
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2020
Amendment Flag	false
Entity Central Index Key	0001333986
Current Fiscal Year End Date	--12-31
Common Stock | New York Stock Exchange
Entity Information [Line Items]
Title of 12(b) Security	Common Stock
Trading Symbol	EQH
Security Exchange Name	NYSE
Depositary Shares, each representing a 1/1,000th interest in a share of Fixed Rate Noncumulative Perpetual Preferred Stock, Series A | New York Stock Exchange
Entity Information [Line Items]
Title of 12(b) Security	Depositary Shares, each representing a 1/1,000th interest in a share of Fixed Rate Noncumulative Perpetual Preferred Stock, Series A
Trading Symbol	EQH PR A
Security Exchange Name	NYSE

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions		Sep. 30, 2020	Dec. 31, 2019
Investments:
Fixed maturities available-for-sale, at fair value (amortized cost of $70,307 and $62,937) (allowance for credit losses of $13 at September 30, 2020)		$ 79,379	$ 66,343
Mortgage loans on real estate (net of allowance for credit losses of $70 at September 30, 2020)		12,802	12,107
Policy loans		4,123	3,735
Other equity investments	[1]	1,428	1,344
Trading securities, at fair value		6,244	7,031
Other invested assets	[1]	1,802	2,780
Total investments		105,778	93,340
Cash and cash equivalents	[1]	8,684	4,405
Cash and securities segregated, at fair value		1,869	1,095
Broker-dealer related receivables		1,929	1,987
Deferred policy acquisition costs		4,171	5,837
Goodwill and other intangible assets, net		4,745	4,751
Amounts due from reinsurers (allowance for credit losses of $0 at September 30, 2020)		4,580	4,592
GMIB reinsurance contract asset, at fair value		2,818	2,139
Other assets	[1]	4,476	3,800
Assets held-for-sale		0	962
Separate Accounts assets		123,446	126,910
Total Assets		262,496	249,818
LIABILITIES
Policyholders’ account balances		62,726	58,879
Future policy benefits and other policyholders' liabilities		41,139	34,635
Broker-dealer related payables		760	722
Customer related payables		3,461	2,523
Amounts due to reinsurers		1,391	1,404
Short-term and long-term debt		4,114	4,111
Current and deferred income taxes		1,648	528
Other liabilities	[1]	4,864	3,970
Liabilities held-for-sale		0	724
Separate Accounts liabilities		123,446	126,910
Total Liabilities		243,549	234,406
Redeemable noncontrolling interest	[1],[2]	95	365
Commitments and contingent liabilities (Note 13)
Equity attributable to Holdings:
Preferred stock and additional paid-in capital, $1 par value and $25,000 liquidation preference		1,269	775
Common stock, $0.01 par value, 2,000,000,000 shares authorized; 552,896,328 and 552,896,328 shares issued, respectively; 444,708,017 and 463,711,392 shares outstanding, respectively		5	5
Additional paid-in capital		1,953	1,920
Treasury stock, at cost, 108,188,311 and 89,184,936 shares, respectively		(2,147)	(1,832)
Retained earnings		12,032	11,744
Accumulated other comprehensive income (loss)		4,188	844
Total equity attributable to Holdings		17,300	13,456
Noncontrolling interest		1,552	1,591
Total Equity		18,852	15,047
Total Liabilities, Redeemable Noncontrolling Interest and Equity		$ 262,496	$ 249,818
[1]	See Note 2 for details of balances with variable interest entities.
[2]	See Note 12 for details of Redeemable noncontrolling interest.

CONSOLIDATED BALANCE SHEETS (PA

CONSOLIDATED BALANCE SHEETS (PARENTHETICAL) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Fixed maturities available-for-sale, amortized cost	$ 70,294,000,000
Fixed maturities available-for-sale, allowance for credit losses	(13,000,000)	$ 0
Mortgage loans on real estate, allowance for credit losses	70,000,000
Reinsurance recoverable, allowance for credit loss	$ 0
Preferred stock par value (in dollars per share)	$ 1	$ 1
Preferred stock, liquidation preference	$ 25,000	$ 25,000
Common stock par value (in dollars per share)	$ 0.01	$ 0.01
Common stock authorized (in shares)	2,000,000,000	2,000,000,000
Common stock issued (in shares)	552,896,328	552,896,328
Common stock outstanding (in shares)	444,708,017	463,711,392
Treasury stock (in shares)	108,188,311	89,184,936
Fixed maturities
Fixed maturities available-for-sale, amortized cost	$ 70,307,000,000	$ 62,937,000,000
Fixed maturities available-for-sale, allowance for credit losses	$ 13,000,000

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME (LOSS) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
REVENUES
Policy charges and fee income	$ 914	$ 980	$ 2,787	$ 2,847
Premiums	221	284	754	847
Net derivative gains (losses)	(1,472)	(453)	1,890	(2,323)
Net investment income (loss)	879	824	2,530	2,815
Investment gains (losses), net:
Credit losses on AFS debt securities and loans	(4)	0	(47)	0
Other investment gains (losses), net	21	199	237	176
Total investment gains (losses), net	17	199	190	176
Investment management and service fees	1,126	1,101	3,314	3,172
Other income	155	143	434	409
Total revenues	1,840	3,078	11,899	7,943
BENEFITS AND OTHER DEDUCTIONS
Policyholders’ benefits	1,034	1,735	4,546	3,551
Interest credited to policyholders’ account balances	306	320	930	944
Compensation and benefits	503	502	1,498	1,523
Commissions and distribution-related payments	342	317	982	905
Interest expense	52	54	152	167
Amortization of deferred policy acquisition costs	90	128	1,555	489
Other operating costs and expenses	436	449	1,308	1,315
Total benefits and other deductions	2,763	3,505	10,971	8,894
Income (loss) from continuing operations, before income taxes	(923)	(427)	928	(951)
Income tax (expense) benefit	218	121	(141)	334
Net income (loss)	(705)	(306)	787	(617)
Less: Net income (loss) attributable to the noncontrolling interest	74	68	197	201
Net income (loss) attributable to Holdings	(779)	(374)	590	(818)
Less: Preferred stock dividends	11	0	34	0
Net income (loss) available to Holdings’ common shareholders	$ (790)	$ (374)	$ 556	$ (818)
Net income (loss) applicable to Holdings’ common shareholders per common share:
Basic (in usd per share)	$ (1.77)	$ (0.76)	$ 1.23	$ (1.64)
Diluted (in usd per share)	$ (1.77)	$ (0.76)	$ 1.22	$ (1.64)
Weighted average common shares outstanding (in millions):
Basic (in shares)	447.5	490.4	453	499.8
Diluted (in shares)	447.5	490.4	454.1	499.8

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (705)	$ (306)	$ 787	$ (617)
Other comprehensive income (loss) net of income taxes:
Change in unrealized gains (losses), net of reclassification adjustment	229	746	3,273	2,874
Changes in defined benefit plan related items not yet recognized in periodic benefit cost, net of reclassification adjustment	21	18	71	85
Foreign currency translation adjustment	16	(12)	1	(12)
Total other comprehensive income (loss), net of income taxes	266	752	3,345	2,947
Comprehensive income (loss)	(439)	446	4,132	2,330
Less: Comprehensive income (loss) attributable to the noncontrolling interest	80	63	198	194
Comprehensive income (loss) attributable to Holdings	$ (519)	$ 383	$ 3,934	$ 2,136

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Millions	Total	Cumulative effect of period of adoption, adjusted balance	Parent	ParentCumulative effect of period of adoption, adjusted balance	Preferred Stock and Additional Paid-In Capital	Common Stock	Additional Paid-in Capital	Treasury Stock	Retained Earnings	Retained EarningsCumulative effect of period of adoption, adjusted balance	AOCI Attributable to Parent	Non-controlling Interest
Beginning of year at Dec. 31, 2016									$ 11,360		$ (920)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss)	$ 811										792
End of year at Dec. 31, 2017	16,411		$ 13,314						12,138		(128)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss)	(1,169)										(1,184)
End of year at Dec. 31, 2018	15,368		13,802		$ 0	$ 5	$ 1,908	$ (640)	13,937		(1,408)	$ 1,566
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss)	884										885
Other	(7)
End of year at Mar. 31, 2019	14,591		13,052				1,882		12,922		(523)
Beginning of year at Dec. 31, 2018	15,368		13,802		0	5	1,908	(640)	13,937		(1,408)	1,566
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss)	2,195										2,197
Other							(16)
End of year at Jun. 30, 2019	16,217		14,672		0	5	1,901	(1,232)	13,209		789	1,545
Beginning of year at Dec. 31, 2018	15,368		13,802		0	5	1,908	(640)	13,937		(1,408)	1,566
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock compensation	13		(3)				(11)	8				16
Purchase of treasury stock	(637)		(637)					(637)
Reissuance of treasury stock	(1)		(1)						(1)
Retirement of common stock	(142)		(142)						(142)
Repurchase of AB Holding units	(30)											(30)
Dividends paid to noncontrolling interest	(186)											(186)
Dividends	(215)		(215)						(215)
Net income (loss)	(643)		(818)						(818)			175
Other comprehensive income (loss)	2,947		2,954								2,954	(7)
Other	8											8
End of year at Sep. 30, 2019	16,482		14,940		0	5	1,897	(1,269)	12,761		1,546	1,542
Beginning of year at Dec. 31, 2018	15,368		13,802		0	5	1,908	(640)	13,937		(1,408)	1,566
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss)	2,248										2,252
End of year at Dec. 31, 2019	15,047	$ (30)	13,456	$ (30)	775	5	1,920	(1,832)	11,744	$ (30)	844	1,591
Beginning of year at Mar. 31, 2019	14,591		13,052				1,882		12,922		(523)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss)	1,311										1,312
Other							(9)
End of year at Jun. 30, 2019	16,217		14,672		0	5	1,901	(1,232)	13,209		789	1,545
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock compensation	(10)		(14)				(20)	6				4
Purchase of treasury stock	(43)		(43)					(43)
Reissuance of treasury stock	(1)		(1)						(1)
Retirement of common stock	1		1						1
Repurchase of AB Holding units	(9)											(9)
Dividends paid to noncontrolling interest	(62)											(62)
Dividends	(74)		(74)						(74)
Net income (loss)	(313)		(374)						(374)			61
Other comprehensive income (loss)	752		757								757	(5)
Other	24		16				16					8
End of year at Sep. 30, 2019	16,482		14,940		0	5	1,897	(1,269)	12,761		1,546	1,542
Beginning of year at Dec. 31, 2019	15,047	(30)	13,456	(30)	775	5	1,920	(1,832)	11,744	(30)	844	1,591
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss)	1,437
End of year at Mar. 31, 2020	21,535		19,981						17,007
Beginning of year at Dec. 31, 2019	15,047	(30)	13,456	(30)	775	5	1,920	(1,832)	11,744	(30)	844	1,591
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss)	3,079
End of year at Jun. 30, 2020	19,038		17,498		775	5	1,938	(2,047)	12,899		3,928	1,540
Beginning of year at Dec. 31, 2019	15,047	$ (30)	13,456	$ (30)	775	5	1,920	(1,832)	11,744	$ (30)	844	1,591
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock compensation	67		59				44	15				8
Purchase of treasury stock	(330)		(330)					(330)
Reissuance of treasury stock	(16)		(16)						(16)
Repurchase of AB Holding units	(50)		(31)				(31)					(19)
Dividends paid to noncontrolling interest	(230)											(230)
Dividends	(222)		(222)						(222)
Dividends on preferred stock	(34)		(34)						(34)
Issuance of preferred stock	494		494		494
Net income (loss)	791		590						590			201
Other comprehensive income (loss)	3,345		3,344								3,344	1
Other	20		20				20
End of year at Sep. 30, 2020	$ 18,852		17,300		1,269	5	1,953	(2,147)	12,032		4,188	1,552
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accounting standards update [extensible list]	us-gaap:AccountingStandardsUpdate201613Member
Beginning of year at Mar. 31, 2020	$ 21,535		19,981						17,007
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss)	1,642
End of year at Jun. 30, 2020	19,038		17,498		775	5	1,938	(2,047)	12,899		3,928	1,540
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock compensation	18		15				15					3
Purchase of treasury stock	(100)		(100)					(100)
Reissuance of treasury stock	(1)		(1)						(1)
Repurchase of AB Holding units	(2)											(2)
Dividends paid to noncontrolling interest	(68)											(68)
Dividends	(76)		(76)						(76)
Dividends on preferred stock	(11)		(11)						(11)
Issuance of preferred stock	494		494		494
Net income (loss)	(706)		(779)						(779)			73
Other comprehensive income (loss)	266		260								260	6
Other	0		0				0
End of year at Sep. 30, 2020	$ 18,852		$ 17,300		$ 1,269	$ 5	$ 1,953	$ (2,147)	$ 12,032		$ 4,188	$ 1,552

CONSOLIDATED STATEMENTS OF EQ_2

CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Statement of Stockholders' Equity [Abstract]
Cash dividends declared per common share (in usd per share)	$ 0.17	$ 0.15	$ 0.49	$ 0.43

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Statement of Cash Flows [Abstract]
Net income (loss)	$ 787	$ (617)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Interest credited to policyholders’ account balances	930	944
Policy charges and fee income	(2,787)	(2,847)
Net derivative (gains) losses	(1,890)	2,323
Credit losses on AFS debt securities and loans	47	0
Investment (gains) losses, net	(287)	(176)
Loss on businesses held-for-sale	50	0
Realized and unrealized (gains) losses on trading securities	(133)	(485)
Non-cash long term incentive compensation expense	55	90
Non-cash pension plan restructuring	0	0
Amortization and depreciation	1,668	564
Equity (income) loss from limited partnerships	14	(67)
Changes in:
Net broker-dealer and customer related receivables/payables	980	(504)
Reinsurance recoverable	(316)	(70)
Segregated cash and securities, net	(774)	211
Capitalization of deferred policy acquisition costs	(489)	(544)
Future policy benefits	1,867	943
Current and deferred income taxes	237	30
Other, net	46	(87)
Net cash provided by (used in) operating activities	5	(292)
Proceeds from the sale/maturity/prepayment of:
Fixed maturities, available-for-sale	10,422	9,850
Mortgage loans on real estate	454	708
Trading account securities	1,529	8,762
Real estate joint ventures	0	3
Short term investments	1,434	2,011
Other	570	162
Payment for the purchase/origination of:
Fixed maturities, available-for-sale	(17,393)	(24,448)
Mortgage loans on real estate	(1,208)	(912)
Trading account securities	(550)	(1,072)
Short term investments	(1,100)	(2,148)
Other	(702)	(302)
Proceeds from the sale of business	164	0
Cash settlements related to derivative instruments	2,503	179
Repayments of loans to affiliates	0	0
Investment in capitalized software, leasehold improvements and EDP equipment	(44)	(72)
Other, net	(47)	(132)
Net cash provided by (used in) investing activities	(3,968)	(7,411)
Cash flows from financing activities:
Deposits	7,928	9,944
Withdrawals	(3,116)	(3,551)
Transfers (to) from Separate Accounts	1,919	1,358
Change in short-term financings	0	(163)
Change in collateralized pledged assets	60	3
Change in collateralized pledged liabilities	1,973	1,900
(Decrease) increase in overdrafts payable	3	(73)
Dividends paid on common stock	(222)	(215)
Dividends paid on preferred stock	(34)	0
Issuance of preferred stock	494	0
Purchases of AB Holding Units to fund long-term incentive compensation plan awards	(54)	(82)
Purchase of treasury shares	(330)	(787)
Purchases (redemptions) of noncontrolling interests of consolidated company-sponsored investment funds	(260)	138
Distribution to noncontrolling interest of consolidated subsidiaries	(230)	(186)
Increase (decrease) in securities sold under agreement to repurchase	0	(573)
Other, net	45	0
Net cash provided by (used in) financing activities	8,176	7,713
Effect of exchange rate changes on cash and cash equivalents	1	(8)
Change in cash and cash equivalents	4,214	2
Cash and cash equivalents, beginning of year	4,405	4,469
Change in cash of businesses held-for-sale	65	0
Cash and cash equivalents, end of year	8,684	4,471
Non-cash transactions:
Right-of-use assets obtained in exchange for lease obligations	$ 24	$ 41

ORGANIZATION

ORGANIZATION	9 Months Ended
	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION	ORGANIZATION Equitable Holdings, Inc. (which removed “AXA” from its name on January 13, 2020, “Holdings” and, with its consolidated subsidiaries, the “Company”) is the holding company for a diversified financial services organization. The Company conducts operations in four segments: Individual Retirement, Group Retirement, Investment Management and Research, and Protection Solutions. The Company’s management evaluates the performance of each of these segments independently. • The Individual Retirement segment offers a diverse suite of variable annuity products which are primarily sold to affluent and high net worth individuals saving for retirement or seeking retirement income. • The Group Retirement segment offers tax-deferred investment and retirement services or products to plans sponsored by educational entities, municipalities and not-for-profit entities, as well as small and medium-sized businesses. • The Investment Management and Research segment provides diversified investment management, research and related solutions globally to a broad range of clients through three main client channels - Institutional, Retail and Private Wealth Management - and distributes its institutional research products and solutions through Bernstein Research Services. The Investment Management and Research segment reflects the business of AllianceBernstein Holding L.P. (“AB Holding”), AllianceBernstein L.P. (“ABLP”) and their subsidiaries (collectively, “AB”). • The Protection Solutions segment includes the Company’s life insurance and group employee benefits businesses. The life insurance business offers a variety of variable universal life, indexed universal life and term life products to help affluent and high net worth individuals, as well as small and medium-sized business owners, with their wealth protection, wealth transfer and corporate needs. Our group employee benefits business offers a suite of life, short- and long-term disability, dental and vision insurance products to small and medium-size businesses across the United States. The Company reports certain activities and items that are not included in our segments in Corporate and Other. Corporate and Other includes certain of our financing and investment expenses. It also includes: Equitable Advisors, LLC (“Equitable Advisors”) broker-dealer business, closed block of life insurance (the “Closed Block”), run-off variable annuity reinsurance business, run-off group pension business, run-off health business, benefit plans for our employees, certain strategic investments and certain unallocated items, including capital and related investments, interest expense and corporate expense. AB’s results of operations are reflected in the Investment Management and Research segment. Accordingly, Corporate and Other does not include any items applicable to AB. At both September 30, 2020 and December 31, 2019, the Company’s economic interest in AB was approximately 65%. The general partner of AB, AllianceBernstein Corporation (the “General Partner”), is a wholly-owned subsidiary of the Company. Because the General Partner has the authority to manage and control the business of AB, AB is consolidated in the Company’s financial statements for all periods. Sale of U.S. Financial Life Insurance Company and MONY Life Insurance Company of the Americas, Ltd

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Principles of Consolidation The unaudited interim consolidated financial statements (the “consolidated financial statements”) have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP” or “GAAP”) on a basis consistent with reporting interim financial information in accordance with instructions to the Form 10-Q and Article 10 of Regulation S-X of the Securities and Exchange Commission (“SEC”). In the opinion of management, all adjustments necessary for a fair statement of the financial position and results of operations have been made. All such adjustments are of a normal, recurring nature, with the exception of the Company’s update of its interest rate assumption and adoption of new economic scenario generator as further described below in Assumption Updates and Model Changes. Interim results are not necessarily indicative of the results that may be expected for the full year. These financial statements should be read in conjunction with the Company’s consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019. The accompanying unaudited consolidated financial statements present the consolidated results of operations, financial condition, and cash flows of the Company and its subsidiaries and those investment companies, partnerships and joint ventures in which the Company has control and a majority economic interest as well as those variable interest entities (“VIEs”) that meet the requirements for consolidation. All significant intercompany transactions and balances have been eliminated in consolidation. The terms “third quarter 2020” and “third quarter 2019” refer to the three months ended September 30, 2020 and 2019, respectively. The terms “first nine months of 2020” and “first nine months of 2019” refer to the nine months ended September 30, 2020 and 2019, respectively. Certain prior year amounts have been reclassified to conform to the current year’s presentation. Adoption of New Accounting Pronouncements Description Effect on the Financial Statement or Other Significant Matters ASU 2016-13 : Financial Instruments—Credit Losses (Topic 326), as clarified and amended by ASU 2018-19: Codification Improvements to Topic 326, Financial Instruments—Credit Losses, ASU 2019-04: Codification Improvements to Topic 326, Financial Instruments—Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments and ASU 2019-05: Financial Instruments—Credit Losses (Topic 326) Targeted Transition Relief, ASU 2019-11: Codification Improvements to Topic 326, Financial Instruments—Credit Losses ASU 2016-13 contains new guidance which introduces an approach based on expected losses to estimate credit losses on certain types of financial instruments. It also modifies the impairment model for available-for-sale debt securities and provides for a simplified accounting model for purchased financial assets with credit deterioration since their origination. ASU 2019-05 provides entities that have instruments within the scope of Subtopic 326-20 an option to irrevocably elect the fair value option on an instrument-by-instrument basis upon adoption of Topic 326. ASU 2018-19, ASU 2019-04 and ASU 2019-11 clarified the codification guidance and did not materially change the standard. On January 1, 2020, the Company adopted the new standard and completed implementation of its updated current expected credit losses (“CECL”) models, processes and controls related to the identified financial assets that fall within the scope of the new standard. Upon adoption, the Company recorded a cumulative effect adjustment to reduce the opening retained earnings balance by approximately $40 million, on a pre-tax and pre-DAC basis. The adjustment is primarily attributable to an increase in the allowance for credit losses associated with the Company’s commercial and agricultural mortgage loan portfolios and reinsurance. ASU 2018-13: Fair Value Measurement (Topic 820) This ASU improves the effectiveness of fair value disclosures in the notes to financial statements. Amendments in this ASU impact the disclosure requirements in Topic 820, including the removal, modification and addition to existing disclosure requirements. The Company elected to early adopt during 2019 the removal of disclosures relating to transfers between Level 1 and Level 2 of the fair value hierarchy, the policy for timing of transfers between levels and valuation processes for Level 3 fair value measurements. The Company adopted the additional disclosures related to Level 3 fair value information on January 1, 2020. ASU 2018-17 : Consolidation (Topic 810): Targeted Improvements to Related Party Guidance for Variable Interest Entities This ASU provides guidance requiring that indirect interests held through related parties in common control arrangements be considered on a proportional basis for determining whether fees paid to decision makers and service providers are variable interests. The Company adopted this new standard effective for January 1, 2020. Adoption of this standard did not materially impact the Company’s financial position or results of operations. Description Effective Date and Method of Adoption Effect on the Financial Statement or Other Significant Matters ASU 2018-12: Financial Services - Insurance (Topic 944); ASU 2019-09: Financial Services - Insurance (Topic 944): Effective Date This ASU provides targeted improvements to existing recognition, measurement, presentation, and disclosure requirements for long-duration contracts issued by an insurance entity. The ASU primarily impacts four key areas, including: In November 2019, ASU 2019-09 was issued which modified ASU 2018-12 to be effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2021. Early adoption is permitted. On September 30, 2020, the FASB tentatively affirmed its decision to defer the effective date of the amendments in ASU 2018-12, for all insurance entities by one year. Early adoption would still be allowed. The Company is currently evaluating the impact that adoption of this guidance will have on the Company’s consolidated financial statements, however the adoption of the ASU is expected to have a significant impact on the Company’s consolidated financial condition, results of operations, cash flows and required disclosures, as well as processes and controls. 1. Measurement of the liability for future policy benefits for traditional and limited payment contracts. The ASU requires companies to review, and if necessary, update cash flow assumptions at least annually for non-participating traditional and limited-payment insurance contracts. Interest rates used to discount the liability will need to be updated quarterly using an upper medium grade (low credit risk) fixed-income instrument yield. 2. Measurement of market risk benefits (“MRBs”). MRBs, as defined under the ASU, will encompass certain GMxB features associated with variable annuity products and other general account annuities with other than nominal market risk. The ASU requires MRBs to be measured at fair value with changes in value attributable to changes in instrument-specific credit risk recognized in OCI. 3. Amortization of deferred acquisition costs. The ASU simplifies the amortization of deferred acquisition costs and other balances amortized in proportion to premiums, gross profits, or gross margins, requiring such balances to be amortized on a constant level basis over the expected term of the contracts. Deferred costs will be required to be written off for unexpected contract terminations but will not be subject to impairment testing. 4. Expanded footnote disclosures. The ASU requires additional disclosures including disaggregated roll-forwards of beginning to ending balances of the liability for future policy benefits, policyholder account balances, MRBs, separate account liabilities and deferred acquisition costs. Companies will also be required to disclose information about significant inputs, judgements, assumptions and methods used in measurement. For the liability for future policyholder benefits for traditional and limited payment contracts, companies can elect one of two adoption methods. Companies can either elect a modified retrospective transition method applied to contracts in force 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 (“AOCI”) or a full retrospective transition method using actual historical experience information as of contract inception. The same adoption method must be used for deferred policy acquisition costs. Description Effective Date and Method of Adoption Effect on the Financial Statement or Other Significant Matters ASU 2019-12: Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes This ASU simplifies the accounting for income taxes by removing certain exceptions to the general principles in Topic 740, as well as clarifying and amending existing guidance. Effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. Early adoption is permitted. The Company is currently evaluating the impact adopting the guidance will have on the Company’s consolidated financial statements, however the adoption is not expected to materially impact the Company’s financial position, results of operation, or cash flows. ASU2020-04 : Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting The amendments in this ASU provide optional expedients and exceptions to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments in this ASU apply only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. This ASU is effective as of March 12, 2020 through December 31, 2022. The Company will determine the applicability of the optional expedients and exceptions provided under the ASU as reference rate reform continues to develop. Goodwill Starting as of June 30, 2020, the Company changed its measurement of the fair value of the Company’s Investment Management and Research reporting unit from a discounted cash flow valuation technique to a market valuation approach. Under the market valuation approach, the fair value of the reporting unit is based on its adjusted market valuation assuming a control premium. The Company has determined that this valuation technique provides a more exact determination of fair value for the reporting unit. This approach will be applied when the Company performs its annual testing for goodwill recoverability at December 31, 2020. The Company also determined that if the market valuation approach had been applied in the first quarter 2020, it would not have resulted in an impairment of the reporting unit. Investments The carrying values of fixed maturities classified as available-for-sale (“AFS”) are reported at fair value. Changes in fair value are reported in OCI, net of allowance for credit losses, policy related amounts and deferred income taxes. With the adoption of the new Financial Instruments-Credit Losses standard, changes in credit losses are recognized in Investment gains (losses), net. The redeemable preferred stock investments that are reported in fixed maturities include real estate investment trusts (“REIT”), perpetual preferred stock and redeemable preferred stock. These securities may not have a stated maturity, may not be cumulative, and do not provide for mandatory redemption by the issuer. The Company determines the fair values of fixed maturities and equity securities based upon quoted prices in active markets, when available, or through the use of alternative approaches when market quotes are not readily accessible or available. These alternative approaches include matrix or model pricing and use of independent pricing services, each supported by reference to principal market trades or other observable market assumptions for similar securities. More specifically, the matrix pricing approach to fair value is a discounted cash flow methodology that incorporates market interest rates commensurate with the credit quality and duration of the investment. The Company’s management, with the assistance of its investment advisors, evaluates AFS debt securities that experienced a decline in fair value below amortized cost for credit losses which are evaluated in accordance with the new financial instruments credit losses guidance effective January 1, 2020. Integral to this review is an assessment made each quarter, on a security-by-security basis, by the Company’s Investments Under Surveillance (“IUS”) Committee, of various indicators of credit deterioration to determine whether the investment security has experienced a credit loss. This assessment includes, but is not limited to, consideration of the severity of the unrealized loss, failure, if any, of the issuer of the security to make scheduled payments, actions taken by rating agencies, adverse conditions specifically related to the security or sector, and the financial strength, liquidity and continued viability of the issuer. The Company recognizes an allowance for credit losses on AFS debt securities with a corresponding adjustment to earnings rather than a direct write down that reduces the cost basis of the investment, and credit losses are limited to the amount by which the security’s amortized cost basis exceeds its fair value. Any improvements in estimated credit losses on AFS debt securities are recognized immediately in earnings. Management does not use the length of time a security has been in an unrealized loss position as a factor, either by itself or in combination with other factors, to conclude that a credit loss does not exist, as they were permitted to do prior to January 1, 2020. When the Company determines that there is more than 50% likelihood that it is not going to recover the principal and interest cash flows related to an AFS debt security, the security is placed on nonaccrual status and the Company reverses accrued interest receivable against interest income. Since the nonaccrual policy results in a timely reversal of accrued interest receivable, the Company does not record an allowance for credit losses on accrued interest receivable. If there is no intent to sell or likely requirement to dispose of the fixed maturity security before its recovery, only the credit loss component of any resulting allowance is recognized in income (loss) and the remainder of the fair value loss is recognized in OCI. The amount of credit loss is the shortfall of the present value of the cash flows expected to be collected as compared to the amortized cost basis of the security. The present value is calculated by discounting management’s best estimate of projected future cash flows at the effective interest rate implicit in the debt security at the date of acquisition. Projections of future cash flows are based on assumptions regarding probability of default and estimates regarding the amount and timing of recoveries. These assumptions and estimates require use of management judgment and consider internal credit analyses as well as market observable data relevant to the collectability of the security. Write-offs of AFS debt securities are recorded when all or a portion of a financial asset is deemed uncollectible. Full or partial write-offs are recorded as reductions to the amortized cost basis of the AFS debt security and deducted from the allowance in the period in which the financial assets are deemed uncollectible. The Company elected to reverse accrued interest deemed uncollectible as a reversal of interest income. In instances where the Company collects cash that it has previously written off, the recovery will be recognized through earnings or as a reduction of the amortized cost basis for interest and principal, respectively. Real estate held for the production of income is stated at depreciated cost less allowance for credit losses. Depreciation of real estate held for production of income is computed using the straight-line method over the estimated useful lives of the properties, which generally range from 40 to 50 years. 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. Partnerships, investment companies, and joint venture interests that the Company has control of and has an economic interest in or those that meet the requirements for consolidation under accounting guidance for consolidation of VIEs are consolidated. Those that the Company does not have control of and does not have a majority economic interest in and those that do not meet the VIE requirements for consolidation are reported on the equity method of accounting and are reported in other equity investments. The Company records its interests in certain of these partnerships on a month or one quarter lag. Trading securities, which include equity securities and fixed maturities, are carried at fair value based on quoted market prices, with realized and unrealized gains (losses) reported in net investment income (loss) in the consolidated statements of income (loss). Corporate owned life insurance (“COLI”) has been purchased by the Company and certain subsidiaries on the lives of certain key employees and the Company and these subsidiaries are named as beneficiaries under these policies. COLI is carried at the cash surrender value of the policies. At September 30, 2020 and December 31, 2019, the carrying value of COLI was $958 million and $944 million, respectively, and is reported in Other invested assets in the consolidated balance sheets. Cash and cash equivalents includes cash on hand, demand deposits, money market accounts, overnight commercial paper and highly liquid debt instruments purchased with an original maturity of three months or less. Due to the short-term nature of these investments, the recorded value is deemed to approximate fair value. Cash and securities segregated primarily includes U.S. Treasury Bills segregated by AB in a special reserve bank custody account for the exclusive benefit of its brokerage customers under Rule 15c3-3 of the Exchange Act. All securities owned, including U.S. government and agency securities, mortgage-backed securities, futures and forwards transactions, are reported in the consolidated financial statements on a trade date basis. Mortgage Loans on Real Estate Mortgage loans are stated at unpaid principal balances, net of unamortized discounts and the allowance for credit losses. The Company calculates the allowance for credit losses in accordance with the CECL model in order to provide for the risk of credit losses in the lending process. Expected credit losses for loans with similar risk characteristics are estimated on a collective (i.e., pool) basis in order to meet CECL’s risk of loss concept which requires the Company to consider possibilities of loss, even if remote. For collectively evaluated mortgages, the Company estimates the allowance for credit losses based on the amortized cost basis of its mortgages over their expected life using a probability of default (“PD”) / loss given default (“LGD”) model. The PD/LGD model incorporates the Company’s reasonable and supportable forecast of macroeconomic information over a specified period. The length of the reasonable and supportable forecast period is reassessed on a quarterly basis and may be adjusted as appropriate over time to be consistent with macroeconomic conditions and the environment as of the reporting date. For periods beyond the reasonable and supportable forecast period, the model reverts to historical loss information. The PD and LGD are estimated at the loan-level based on loans’ current and forecasted risk characteristics as well as macroeconomic forecasts. The PD is estimated using both macroeconomic conditions as well as individual loan risk characteristics including LTV ratios, DSC ratios, seasoning, collateral type, geography, and underlying credit. The LGD is driven primarily by the type and value of collateral, and secondarily by expected liquidation costs and time to recovery. The CECL model is configured to the Company’s specifications and takes into consideration the detailed risk attributes of each discrete loan in the mortgage portfolio which include, but are not limited to the following: • Loan-to-value (“LTV”) ratio - Derived from current loan balance divided by the fair market value of the property. An LTV ratio in excess of 100% indicates an underwater mortgage. • Debt service coverage (“DSC”) ratio - Derived from actual operating earnings divided by annual debt service. If the ratio is below 1.0x, then the income from the property does not support the debt. • Occupancy - Criteria varies by property type but low or below market occupancy is an indicator of sub-par property performance. • Lease expirations - The percentage of leases expiring in the upcoming 12 to 36 months are monitored as a decline in rent and/or occupancy may negatively impact the debt service coverage ratio. In the case of single-tenant properties or properties with large tenant exposure, the lease expiration is a material risk factor. • Other - Any other factors such as maturity, borrower/tenant related issues, payment status, property condition, or current economic conditions may call into question the performance of the loan. Mortgage loans that do not share similar risk characteristics with other loans in the portfolio are individually evaluated quarterly by the Company’s IUS Committee. The allowance for credit losses on these individually evaluated mortgages is a loan-specific reserve as a result of the loan review process that is recorded based on the present value of expected future cash flows discounted at the loan’s effective interest rate or based on the fair value of the collateral. The individually assessed allowance for mortgage loans can increase or decrease from period to period based on such factors. Individually assessed loans may include, but are not limited to, mortgages that have deteriorated in credit quality such as troubled debt restructurings (“TDR”) and reasonably expected TDRs, mortgages for which foreclosure is probable, and mortgages which have been classified as “potential problem” or “problem” loans within the Company’s IUS Committee processes as described below. Within the IUS process, Commercial mortgages 60 days or more past due and agricultural mortgages 90 days or more past due, as well as all mortgages in the process of foreclosure, are identified as problem loans. Based on its monthly monitoring of mortgages, a class of potential problem loans are also identified, consisting of mortgage loans not currently classified as problem loans but for which management has doubts as to the ability of the borrower to comply with the present loan payment terms and which may result in the loan becoming a problem or being modified. The decision whether to classify a performing mortgage loan as a potential problem involves judgments by management as to likely future industry conditions and developments with respect to the borrower or the individual mortgaged property. Individually assessed mortgage loans without provision for losses are mortgage loans where the fair value of the collateral or the net present value of the expected future cash flows related to the loan equals or exceeds the recorded investment. Interest income earned on mortgage loans where the collateral value is used to measure impairment is recorded on a cash basis. Interest income on mortgage loans where the present value method is used to measure impairment is accrued on the net carrying value amount of the loan at the interest rate used to discount the cash flows. Mortgage loans are placed on nonaccrual status once management believes the collection of accrued interest is not probable. Once mortgage loans are classified as nonaccrual mortgage loans, interest income is recognized under the cash basis of accounting and the resumption of the interest accrual would commence only after all past due interest has been collected or the mortgage loan has been restructured to where the collection of interest is considered likely. The Company charges off loan balances and accrued interest that are deemed uncollectible. The components of amortized cost for mortgage loans on the consolidated balance sheets excludes accrued interest amounts because the Company presents accrued interest receivables within Other assets. Once mortgage loans are placed on nonaccrual status, the Company reverses accrued interest receivable against interest income. Since the nonaccrual policy results in the timely reversal of accrued interest receivable, the Company does not record an allowance for credit losses on accrued interest receivable. Troubled Debt Restructuring The Company invests in commercial and agricultural mortgage loans included in the balance sheet as Mortgage loans on real estate and privately negotiated fixed maturities included in the balance sheet as Fixed maturities AFS. Under certain circumstances, modifications are granted to these contracts. Each modification is evaluated as to whether a troubled debt restructuring has occurred. A modification is a troubled debt restructuring when the borrower is in financial difficulty and the creditor makes concessions. Generally, the types of concessions may include reducing the face amount or maturity amount of the debt as originally stated, reducing the contractual interest rate, extending the maturity date at an interest rate lower than current market interest rates and/or reducing accrued interest. The Company considers the amount, timing and extent of the concession granted in determining any impairment or changes in the specific credit allowance recorded in connection with the troubled debt restructuring. A credit allowance may have been recorded prior to the quarter when the loan is modified in a troubled debt restructuring. Accordingly, the carrying value (net of the allowance) before and after modification through a troubled debt restructuring may not change significantly, or may increase if the expected recovery is higher than the pre-modification recovery assessment. Net Investment Income (Loss), Investment Gains (Losses), Net, and Unrealized Investment Gains (Losses) Realized investment gains (losses) are determined by identification with the specific asset and are presented as a component of revenue. Changes in the allowance for credit losses are included in Investment gains (losses), net. Realized and unrealized holding gains (losses) on trading and equity securities are reflected in Net investment income (loss). Unrealized investment gains (losses) on fixed maturities designated as AFS held by the Company are accounted for as a separate component of AOCI, net of related deferred income taxes, as are amounts attributable to certain pension operations, Closed Block’s policyholders’ dividend obligation, insurance liability loss recognition, DAC related to UL policies, investment-type products and participating traditional life policies. Changes in unrealized gains (losses) reflect changes in fair value of only those fixed maturities classified as AFS and do not reflect any change in fair value of policyholders’ account balances and future policy benefits. Accounting and Consolidation of VIEs For all new investment products and entities developed by the Company (other than Collateralized Debt Obligations (“CDOs”)), the Company first determines whether the entity is a VIE, which involves determining an entity’s variability and variable interests, identifying the holders of the equity investment at risk and assessing the five characteristics of a VIE. Once an entity has been determined to be a VIE, the Company then identifies the primary beneficiary of the VIE. If the Company is deemed to be the primary beneficiary of the VIE, then the Company consolidates the entity. Management of the Company reviews quarterly its investment management agreements and its investments in, and other financial arrangements with, certain entities that hold client assets under management (“AUM”) to determine the entities that the Company is required to consolidate under this guidance. These entities include certain mutual fund products, hedge funds, structured products, group trusts, collective investment trusts and limited partnerships. The analysis performed to identify variable interests held, determine whether entities are VIEs or voting interest entities (“VOEs”), and evaluate whether the Company has a controlling financial interest in such entities requires the exercise of judgment and is updated on a continuous basis as circumstances change or new entities are developed. The primary beneficiary evaluation generally is performed qualitatively based on all facts and circumstances, including consideration of economic interests in the VIE held directly and indirectly through related parties and entities under common control, as well as quantitatively, as appropriate. Consolidated VIEs At September 30, 2020 and December 31, 2019, the Company consolidated one real estate joint venture for which it was identified as the primary beneficiary under the VIE model. The consolidated entity is jointly owned by Equitable Financial Life Insurance Company (“Equitable Financial”) and AXA France and holds an investment in a real estate venture. Included in Other invested assets in the Company’s consolidated balance sheets at September 30, 2020 and December 31, 2019 are total assets of $31 million and $32 million, respectively, related to this VIE, primarily resulting from the consolidated presentation of this real estate joint venture as real estate held for sale. As of September 30, 2020, Equitable Financial holds $18 million of equity interests in a newly formed Special Purpose Entity, (“SPE”) established to purchase loans from the market in anticipation of a Collateralized Loan Obligation (“CLO”) transaction. The Company has determined it will consolidate the SPE as of September 30, 2020 as it is the primary beneficiary due to the combination of both its equity interest held by Equitable Financial and the majority ownership of AB, which functions as the SPE loan manager. Consolidated AB-Sponsored Investment Funds Included in the Company’s consolidated balance sheet at September 30, 2020 and December 31, 2019 are assets of $169 million and $424 million, liabilities of $7 million and $12 million, and redeemable noncontrolling interests of $39 million and $273 million, respectively, associated with the consolidation of AB-sponsored investment funds under the VIE model. Also included in the Company’s consolidated balance sheets at September 30, 2020 and December 31, 2019 are assets of $102 million and $188 million, liabilities of $23 million and $19 million, and redeemable noncontrolling interests of $18 million and $52 million, respectively, from consolidation of AB-sponsored investment funds under the VOE model. The assets of these consolidated funds are presented within Other invested assets and Cash and cash equivalents, and liabilities of these consolidated funds are presented with Other liabilities in the Company’s consolidated balance sheets; ownership interests not held by the Company relating to consolidated VIEs and VOEs are presented either as redeemable or non-redeemable noncontrolling interests, as appropriate. Redeemable noncontrolling interests are presented in mezzanine equity and non-redeemable noncontrolling interests are presented within permanent equity. The Company is not required to provide financial support to these Company-sponsored investment funds, and only the assets of such funds are available to settle each fund’s own liabilities. Non-Consolidated VIEs At September 30, 2020 and December 31, 2019, respectively, the Company held approximately $1.3 billion and $1.2 billion of investment assets in the fo

INVESTMENTS

INVESTMENTS	9 Months Ended
	Sep. 30, 2020
Investments, Debt and Equity Securities [Abstract]
INVESTMENTS	INVESTMENTS Fixed Maturities Available-for-Sale Accounting for credit impairments of fixed maturities classified as AFS has changed from a direct write-down, or other-than-temporary impairment (“OTTI”) approach, to an allowance for credit loss model starting in 2020 upon adoption of CECL (see Note 2, Significant Accounting Policies — Investments). The components of fair value and amortized cost for fixed maturities classified as AFS on the consolidated balance sheets excludes accrued interest receivable because the Company elected to present accrued interest receivable within Other assets. Accrued interest receivable on AFS fixed maturities at September 30, 2020 was $547 million. There was no accrued interest written off for AFS fixed maturities for the three and nine months ended September 30, 2020. Comparative tables as of December 31, 2019 include OTTI, reported net of tax in OCI and in AOCI until realized. The following tables provide information relating to the Company’s fixed maturities classified as AFS. AFS Fixed Maturities by Classification Amortized Cost Allowance for Credit Losses (4) Gross Unrealized Gains Gross Unrealized Losses Fair Value (in millions) September 30, 2020 Fixed Maturities: Corporate (1) $ 51,340 $ 13 $ 4,661 $ 176 $ 55,812 U.S. Treasury, government and agency 13,160 — 4,308 — 17,468 States and political subdivisions 762 — 116 — 878 Foreign governments 829 — 82 6 905 Residential mortgage-backed (2) 146 — 14 — 160 Asset-backed (3) 2,588 — 26 18 2,596 Commercial mortgage-backed 1,067 — 50 — 1,117 Redeemable preferred stock 415 — 31 3 443 Total at September 30, 2020 $ 70,307 $ 13 $ 9,288 $ 203 $ 79,379 December 31, 2019 (5) Fixed Maturities: Corporate (1) $ 45,900 $ — $ 2,361 $ 62 $ 48,199 U.S. Treasury, government and agency 14,410 — 1,289 305 15,394 States and political subdivisions 638 — 70 3 705 Foreign governments 462 — 35 5 492 Residential mortgage-backed (2) 178 — 13 — 191 Asset-backed (3) 848 — 4 3 849 Redeemable preferred stock 501 — 17 5 513 Total at December 31, 2019 $ 62,937 $ — $ 3,789 $ 383 $ 66,343 ______________ (1) Corporate fixed maturities include both public and private issues. (2) Includes publicly traded agency pass-through securities and collateralized obligations. (3) Includes credit-tranched securities collateralized by sub-prime mortgages and other asset types and credit tenant loans. (4) Amounts represent the allowance for credit losses for 2020 (see Note 2 Significant Accounting Policies – Investments). (5) Excludes amounts reclassified as HFS. The contractual maturities of AFS fixed maturities at September 30, 2020 are shown in the table below. Bonds not due at a single maturity date have been included in the table in the final year of maturity. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Contractual Maturities of AFS Fixed Maturities Amortized Cost (Less Allowance for Credit Losses) Fair Value (in millions) September 30, 2020 Contractual maturities: Due in one year or less $ 4,326 $ 4,362 Due in years two through five 15,844 16,772 Due in years six through ten 18,836 20,887 Due after ten years 27,072 33,042 Subtotal 66,078 75,063 Residential mortgage-backed 146 160 Asset-backed 2,588 2,596 Commercial mortgage-backed 1,067 1,117 Redeemable preferred stock 415 443 Total at September 30, 2020 $ 70,294 $ 79,379 The following table shows proceeds from sales, gross gains (losses) from sales and credit losses for AFS fixed maturities for the three and nine months ended September 30, 2020 and 2019: Proceeds from Sales, Gross Gains (Losses) from Sales and Credit Losses for AFS Fixed Maturities Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (in millions) Proceeds from sales $ 1,433 $ 3,849 $ 6,200 $ 6,913 Gross gains on sales $ 26 $ 205 $ 303 $ 223 Gross losses on sales $ (5) $ (4) $ (39) $ (29) Credit losses (1) $ — $ — $ (13) $ — ______________ (1) Commencing with the Company’s adoption of ASU 2016-13 on January 1, 2020, credit losses on AFS debt securities were recognized as an allowance for credit losses. Prior to this, credit losses on AFS fixed maturities were recognized as OTTI. The following table sets forth the amount of credit loss impairments on AFS fixed maturities held by the Company at the dates indicated and the corresponding changes in such amounts. AFS Fixed Maturities - Credit Loss Impairments Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (in millions) Balance, beginning of period $ 32 $ 25 $ 21 $ 58 Previously recognized impairments on securities that matured, paid, prepaid or sold — (4) (2) (37) Recognized impairments on securities impaired to fair value this period (1) — — — — Credit losses recognized this period on securities for which credit losses were not previously recognized (3) — 7 — Additional credit losses this period on securities previously impaired 3 — 6 — Increases due to passage of time on previously recorded credit losses — — — — Accretion of previously recognized impairments due to increases in expected cash flows (for OTTI securities 2019 and prior) — — — — Balance at September 30, $ 32 $ 21 $ 32 $ 21 ______________ (1) Represents circumstances where the Company determined in the current period that it intends to sell the security, or it is more likely than not that it will be required to sell the security before recovery of the security’s amortized cost. The tables that follow below present a roll-forward of net unrealized investment gains (losses) recognized in AOCI, split between amounts related to fixed maturities on which a credit loss has been recognized, and all other. Net Unrealized Gains (Losses) on AFS Fixed Maturities Net Unrealized Gains (Losses) on Investments DAC Policyholders’ Liabilities Deferred Income Tax Asset (Liability) AOCI Gain (Loss) Related to Net Unrealized Investment Gains (Losses) (in millions) Balance, July 1, 2020 $ 8,728 $ (1,521) $ (1,034) $ (1,297) $ 4,876 Net investment gains (losses) arising during the period 362 — — — 362 Reclassification adjustment: Included in Net income (loss) (21) — — — (21) Excluded from Net income (loss) — — — — — Impact of net unrealized investment gains (losses) — 23 (13) (74) (64) Net unrealized investment gains (losses) excluding credit losses 9,069 (1,498) (1,047) (1,371) 5,153 Net unrealized investment gains (losses) with credit losses 3 (1) — — 2 Balance, September 30, 2020 $ 9,072 $ (1,499) $ (1,047) $ (1,371) $ 5,155 Balance, July 1, 2019 $ 2,929 $ (649) $ (101) $ (481) $ 1,698 Net investment gains (losses) arising during the period 1,619 — — — 1,619 Reclassification adjustment: Included in Net income (loss) (199) — — — (199) Excluded from Net income (loss) — — — — — Impact of net unrealized investment gains (losses) — (374) (121) (150) (645) Net Unrealized Gains (Losses) on Investments DAC Policyholders’ Liabilities Deferred Income Tax Asset (Liability) AOCI Gain (Loss) Related to Net Unrealized Investment Gains (Losses) (in millions) Net unrealized investment gains (losses) excluding credit losses 4,349 (1,023) (222) (631) 2,473 Net unrealized investment gains (losses) with credit losses (1) — — — — — Balance, September 30, 2019 $ 4,349 $ (1,023) $ (222) $ (631) $ 2,473 Net Unrealized Gains (Losses) on Investments DAC Policyholders’ Liabilities Deferred Income Tax Asset (Liability) AOCI Gain (Loss) Related to Net Unrealized Investment Gains (Losses) (in millions) Balance, January 1, 2020 $ 3,453 $ (894) $ (189) $ (497) $ 1,873 Net investment gains (losses) arising during the period 5,898 — — — 5,898 Reclassification adjustment: Included in Net income (loss) (273) — — — (273) Excluded from Net income (loss) — — — — — Impact of net unrealized investment gains (losses) — (606) (859) (875) (2,340) Net unrealized investment gains (losses) excluding credit losses 9,078 (1,500) (1,048) (1,372) 5,158 Net unrealized investment gains (losses) with credit losses (6) 1 1 1 (3) Balance, September 30, 2020 $ 9,072 $ (1,499) $ (1,047) $ (1,371) $ 5,155 Balance, January 1, 2019 $ (522) $ 100 $ (88) $ 104 $ (406) Net investment gains (losses) arising during the period 5,075 — — — 5,075 Reclassification adjustment: Included in Net income (loss) (204) — — — (204) Excluded from Net income (loss) — — — — — Impact of net unrealized investment gains (losses) — (1,123) (134) (735) (1,992) Net unrealized investment gains (losses) excluding credit losses 4,349 (1,023) (222) (631) 2,473 Net unrealized investment gains (losses) with credit losses (1) — — — — — Balance, September 30, 2019 $ 4,349 $ (1,023) $ (222) $ (631) $ 2,473 _____________ (1) Credit losses for 2019 were OTTI losses. The following tables disclose the fair values and gross unrealized losses of the 729 issues at September 30, 2020 and the 413 issues at December 31, 2019 that are not deemed to have credit losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position for the specified periods at the dates indicated. AFS Fixed Maturities in an Unrealized Loss Position for Which No Allowance Is Recorded Less Than 12 Months 12 Months or Longer Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (in millions) September 30, 2020: Fixed Maturities: Corporate $ 4,247 $ 121 $ 369 $ 50 $ 4,616 $ 171 Foreign governments 88 1 31 5 119 6 Asset-backed 1,324 16 74 2 1,398 18 Redeemable preferred stock 59 1 11 2 70 3 Total at September 30, 2020 $ 5,718 $ 139 $ 485 $ 59 $ 6,203 $ 198 December 31, 2019: (1) (2) Fixed Maturities: Corporate $ 2,773 $ 42 $ 373 $ 20 $ 3,146 $ 62 U.S. Treasury, government and agency 4,309 305 2 — 4,311 305 States and political subdivisions 112 3 — — 112 3 Foreign governments 11 — 47 5 58 5 Asset-backed 319 1 201 2 520 3 Redeemable preferred stock 29 — 49 5 78 5 Total at December 31, 2019 $ 7,553 $ 351 $ 672 $ 32 $ 8,225 $ 383 ______________ (1) Amounts represents fixed maturities in an unrealized loss position that are not deemed to be OTTI for 2019. (2) Excludes amounts reclassified as HFS. The Company’s investments in fixed maturities do not include concentrations of credit risk of any single issuer greater than 10% of the consolidated equity of the Company, other than securities of the U.S. government, U.S. government agencies, and certain securities guaranteed by the U.S. government. The Company maintains a diversified portfolio of corporate securities across industries and issuers and does not have exposure to any single issuer in excess of 0.7% of total corporate securities. The largest exposures to a single issuer of corporate securities held at September 30, 2020 and December 31, 2019 were $373 million and $309 million, respectively, representing 2.0% and 2.1% of the consolidated equity of the Company. Corporate high yield securities, consisting primarily of public high yield bonds, are classified as other than investment grade by the various rating agencies, i.e., a rating below Baa3/BBB- or the National Association of Insurance Commissioners (“NAIC”) designation of 3 (medium investment grade), 4 or 5 (below investment grade) or 6 (in or near default). At September 30, 2020 and December 31, 2019, respectively, approximately $2.0 billion and $1.4 billion, or 2.9% and 2.3%, of the $70.3 billion and $62.9 billion aggregate amortized cost of fixed maturities held by the Company were considered to be other than investment grade. These securities had gross unrealized losses of $83 million and $21 million at September 30, 2020 and December 31, 2019, respectively. At September 30, 2020 and December 31, 2019, respectively, the $59 million and $32 million of gross unrealized losses of twelve months or more were primarily concentrated in corporate securities, as applicable. In accordance with the policy described in Note 2, the Company concluded that an adjustment to income for OTTI (prior to January 1, 2020) nor an allowance for credit losses (after January 1, 2020) for these securities was not warranted at either September 30, 2020 or December 31, 2019. At September 30, 2020 and December 31, 2019, the Company did not intend to sell the securities nor will it likely be required to dispose of the securities before the anticipated recovery of their remaining amortized cost basis. Based on the Company’s evaluation both qualitatively and quantitatively of the drivers of the decline in fair value of fixed maturity securities as of September 30, 2020, the Company determined that the unrealized loss was primarily due to increases in credit spreads and changes in credit ratings due to the impact of the COVID-19 pandemic on financial markets and assessments of fundamental risks. Mortgage Loans on Real Estate Accrued interest receivable on commercial and agricultural mortgage loans at September 30, 2020 was $29 million and $32 million, respectively. There was no accrued interest written off for commercial and agricultural mortgage loans for the three and nine months ended September 30, 2020. At September 30, 2020, the Company had no loans for which foreclosure was probable included within the individually assessed mortgage loans, and accordingly had no associated allowance for credit losses. Allowance for Credit Losses on Mortgage Loans The change in the allowance for credit losses for commercial mortgage loans and agricultural mortgage loans during the three and nine months ended September 30, 2020 was as follows: Three Months Ended September 30, 2020 Nine Months Ended September 30, 2020 (in millions) Allowance for credit losses on mortgage loans (1): Commercial mortgages: Balance, beginning of period $ 62 $ 33 Current-period provision for expected credit losses 4 33 Write-offs charged against the allowance — — Recoveries of amounts previously written off — — Net change in allowance $ 4 $ 33 Ending Balance, September 30, $ 66 $ 66 Agricultural mortgages: Balance, beginning of period $ 4 $ 3 Current-period provision for expected credit losses — 1 Write-offs charged against the allowance — — Recoveries of amounts previously written off — — Net change in allowance $ — $ 1 Ending Balance, September 30, $ 4 $ 4 Total allowance for credit losses $ 70 $ 70 _______________ (1) See Note 2 for discussion of the allowance of credit losses transition balance, which is included in the Balance, beginning of period. The change in the allowance for credit losses is attributable to: • increases/decreases in the loan balance due to new originations, maturing mortgages, and loan amortization; • changes in credit quality; and • changes in market assumptions primarily related to COVID-19 driven economic changes. Credit Quality Information The following tables summarize the Company’s mortgage loans segregated by risk rating exposure at September 30, 2020. LTV Ratios (1) At September 30, 2020 Amortized Cost Basis by Origination Year 2020 2019 2018 2017 2016 Prior Total (in millions) Mortgage loans: Commercial: 0% - 50% $ — $ — $ — $ 324 $ 187 $ 650 $ 1,161 50% - 70% 935 411 885 760 2,432 1,608 7,031 70% - 90% 90 394 368 115 153 574 1,694 90% plus — — 12 5 — 216 233 Total commercial $ 1,025 $ 805 $ 1,265 $ 1,204 $ 2,772 $ 3,048 $ 10,119 Agricultural: 0% - 50% $ 181 $ 137 $ 168 $ 161 $ 232 $ 679 $ 1,558 50% - 70% 253 131 172 110 136 372 1,174 70% - 90% — — 3 — — 18 21 90% plus — — — — — — — Total agricultural $ 434 $ 268 $ 343 $ 271 $ 368 $ 1,069 $ 2,753 Total mortgage loans: 0% - 50% $ 181 $ 137 $ 168 $ 485 $ 419 $ 1,329 $ 2,719 50% - 70% 1,188 542 1,057 870 2,568 1,980 8,205 70% - 90% 90 394 371 115 153 592 1,715 90% plus — — 12 5 — 216 233 Total mortgage loans $ 1,459 $ 1,073 $ 1,608 $ 1,475 $ 3,140 $ 4,117 $ 12,872 Debt Service Coverage Ratios (2) At September 30, 2020 Amortized Cost Basis by Origination Year 2020 2019 2018 2017 2016 Prior Total (in millions) Mortgage loans: Commercial: Greater than 2.0x $ 749 $ 492 $ 772 $ 268 $ 2,053 $ 1,268 $ 5,602 1.8x to 2.0x 227 77 118 378 184 524 1,508 1.5x to 1.8x 49 138 186 480 437 569 1,859 1.2x to 1.5x — 56 154 78 97 533 918 1.0x to 1.2x — 42 35 — 1 82 160 Less than 1.0x — — — — — 72 72 Total commercial $ 1,025 $ 805 $ 1,265 $ 1,204 $ 2,772 $ 3,048 $ 10,119 Agricultural Greater than 2.0x $ 52 $ 27 $ 39 $ 38 $ 73 $ 158 $ 387 1.8x to 2.0x 33 36 14 15 21 90 209 1.5x to 1.8x 103 38 45 41 52 212 491 1.2x to 1.5x 165 118 146 105 147 327 1,008 1.0x to 1.2x 77 39 91 71 57 265 600 Less than 1.0x 4 10 8 1 18 17 58 Total agricultural $ 434 $ 268 $ 343 $ 271 $ 368 $ 1,069 $ 2,753 Total mortgage loans Greater than 2.0x $ 801 $ 519 $ 811 $ 306 $ 2,126 $ 1,426 $ 5,989 1.8x to 2.0x 260 113 132 393 205 614 1,717 1.5x to 1.8x 152 176 231 521 489 781 2,350 1.2x to 1.5x 165 174 300 183 244 860 1,926 1.0x to 1.2x 77 81 126 71 58 347 760 Less than 1.0x 4 10 8 1 18 89 130 Total mortgage loans $ 1,459 $ 1,073 $ 1,608 $ 1,475 $ 3,140 $ 4,117 $ 12,872 ______________ (1) The LTV ratio is derived from current loan balance divided by the fair value of the property. The fair value of the underlying commercial properties is updated annually for each mortgage loan. (2) The DSC ratio is calculated using the most recently reported operating income results from property operations divided by annual debt service. The following tables provide information relating to the LTV and DSC ratios for commercial and agricultural mortgage loans at September 30, 2020 and December 31, 2019. The values used in these ratio calculations were developed as part of the periodic review of the commercial and agricultural mortgage loan portfolio, which includes an evaluation of the underlying collateral value. Mortgage Loans by LTV and DSC Ratios DSC Ratio (2) (3) LTV Ratio (1) (3): Greater than 2.0x 1.8x to 1.5x to 1.2x to 1.0x to Less than Total (in millions) September 30, 2020: Mortgage loans: Commercial: 0% - 50% $ 952 $ — $ 185 $ 24 $ — $ — $ 1,161 50% - 70% 3,992 1,160 1,342 511 26 — 7,031 DSC Ratio (2) (3) LTV Ratio (1) (3): Greater than 2.0x 1.8x to 1.5x to 1.2x to 1.0x to Less than Total (in millions) 70% - 90% 574 348 332 306 134 — 1,694 90% plus 84 — — 77 — 72 233 Total commercial $ 5,602 $ 1,508 $ 1,859 $ 918 $ 160 $ 72 $ 10,119 Agricultural: 0% - 50% $ 283 $ 107 $ 271 $ 529 $ 335 $ 33 $ 1,558 50% - 70% 104 100 220 460 265 25 1,174 70% - 90% — 2 — 19 — — 21 90% plus — — — — — — — Total agricultural $ 387 $ 209 $ 491 $ 1,008 $ 600 $ 58 $ 2,753 Total mortgage loans: 0% - 50% $ 1,235 $ 107 $ 456 $ 553 $ 335 $ 33 $ 2,719 50% - 70% 4,096 1,260 1,562 971 291 25 8,205 70% - 90% 574 350 332 325 134 — 1,715 90% plus 84 — — 77 — 72 233 Total mortgage loans $ 5,989 $ 1,717 $ 2,350 $ 1,926 $ 760 $ 130 $ 12,872 December 31, 2019: Mortgage loans: Commercial: 0% - 50% $ 903 $ 38 $ 214 $ 25 $ — $ — $ 1,180 50% - 70% 4,097 1,195 1,118 795 242 — 7,447 70% - 90% 251 98 214 154 46 — 763 90% plus — — — — — — — Total commercial $ 5,251 $ 1,331 $ 1,546 $ 974 $ 288 $ — $ 9,390 Agricultural: 0% - 50% $ 322 $ 104 $ 241 $ 545 $ 321 $ 50 $ 1,583 50% - 70% 82 87 236 426 251 33 1,115 70% - 90% — — — 19 — — 19 90% plus — — — — — — — Total agricultural $ 404 $ 191 $ 477 $ 990 $ 572 $ 83 $ 2,717 Total mortgage loans: 0% - 50% $ 1,225 $ 142 $ 455 $ 570 $ 321 $ 50 $ 2,763 50% - 70% 4,179 1,282 1,354 1,221 493 33 8,562 70% - 90% 251 98 214 173 46 — 782 90% plus — — — — — — — Total mortgage loans $ 5,655 $ 1,522 $ 2,023 $ 1,964 $ 860 $ 83 $ 12,107 ______________ (1) The LTV ratio is derived from current loan balance divided by the fair value of the property. The fair value of the underlying commercial properties is updated annually for each mortgage loan. (2) The DSC ratio is calculated using the most recently reported operating income results from property operations divided by annual debt service. (3) Amounts presented at amortized cost basis. Past-Due and Nonaccrual Mortgage Loan Status The following table provides information relating to the aging analysis of past-due mortgage loans at September 30, 2020 and December 31, 2019, respectively. Age Analysis of Past Due Mortgage Loans (1) Accruing Loans Non-accruing Loans Total Loans Non-accruing Loans with No Allowance Interest Income on Non-accruing Loans (2) Past Due Current Total 30-59 Days 60-89 Days 90 Days or More Total (in millions) September 30, 2020: Mortgage loans: Commercial $ — $ — $ — $ — $ 10,119 $ 10,119 $ — $ 10,119 $ — $ — Agricultural 24 6 135 165 2,588 2,753 — 2,753 — — Total $ 24 $ 6 $ 135 $ 165 $ 12,707 $ 12,872 $ — $ 12,872 $ — $ — December 31, 2019: Mortgage loans: Commercial $ — $ — $ — $ — $ 9,390 $ 9,390 $ — $ 9,390 $ — $ — Agricultural 57 1 66 124 2,593 2,717 — 2,717 — — Total $ 57 $ 1 $ 66 $ 124 $ 11,983 $ 12,107 $ — $ 12,107 $ — $ — _______________ (1) Amounts presented at amortized cost basis. (2) Amounts for 2020 represent results for both the three and nine months ended September 30, 2020. At September 30, 2020 and December 31, 2019, the carrying values of problem mortgage loans that had been classified as non-accrual loans were $0 million and $0 million, respectively. Troubled Debt Restructuring For the nine months ended September 30, 2020 , the Company had one commercial mortgage loan on real estate accounted for as a TDR with a pre-modification cost basis of $75 million and post-modification carrying value of $75 million. The one commercial mortgage loan TDR is 0.07% of the Company’s total invested assets. For the nine months ended September 30, 2020, the Company had six new privately negotiated fixed maturity TDRs with a pre-modification cost basis of $50 million and post-modification carrying value of $44 million. These TDRs did not have subsequent payment defaults nor additional commitments to lend. The six privately negotiated fixed maturity TDRs a re 0.04% of the Company’s total invested assets. There were no mortgage loan on real estate or fixed maturities accounted for as a TDR during 2019. Trading Securities At September 30, 2020 and December 31, 2019, respectively, the fair value of the Company’s trading securities was $6.2 billion and $7.0 billion. At September 30, 2020 and December 31, 2019, respectively, trading securities included the General Account’s investment in Separate Accounts which had carrying values of $38 million and $58 million. The table below shows a breakdown of Net investment income (loss) from trading securities during the three and nine months ended September 30, 2020 and 2019. Net Investment Income (Loss) from Trading Securities Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (in millions) Net investment gains (losses) recognized during the period on securities held at the end of the period $ (13) $ 15 $ 88 $ 492 Net investment gains (losses) recognized on securities sold during the period 16 14 45 (7) Unrealized and realized gains (losses) on trading securities 3 29 133 485 Interest and dividend income from trading securities 60 62 159 227 Net investment income (loss) from trading securities $ 63 $ 91 $ 292 $ 712

DERIVATIVES

DERIVATIVES	9 Months Ended
	Sep. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVES	DERIVATIVES The Company uses derivatives as part of its overall asset/liability risk management primarily to reduce exposures to equity market and interest rate risks. Derivative hedging strategies are designed to reduce these risks from an economic perspective and are all executed within the framework of a “Derivative Use Plan” approved by applicable states’ insurance law. Derivatives are generally not accounted for using hedge accounting, with the exception of Treasury Inflation-Protected Securities (“TIPS”), which is discussed further below. Operation of these hedging programs is based on models involving numerous estimates and assumptions, including, among others, mortality, lapse, surrender and withdrawal rates, election rates, fund performance, market volatility and interest rates. A wide range of derivative contracts are used in these hedging programs, including exchange traded equity, currency and interest rate futures contracts, total return and/or other equity swaps, interest rate swap and floor contracts, bond and bond-index total return swaps, swaptions, variance swaps and equity options, credit and foreign exchange derivatives, as well as bond and repo transactions to support the hedging. The derivative contracts are collectively managed in an effort to reduce the economic impact of unfavorable changes in guaranteed benefits’ exposures attributable to movements in capital markets. In addition, as part of its hedging strategy, the Company targets an asset level for all variable annuity products at or above a CTE98 level under most economic scenarios (Conditional Tail Expectation, or “CTE”, is a statistical measure of tail risk which quantifies the total asset requirement to sustain a loss if an event outside a given probability level has occurred. CTE98 denotes the financial resources a company would need to cover the average of the worst 2% of scenarios.) Derivatives Utilized to Hedge Exposure to Variable Annuities with Guarantee Features The Company has issued and continues to offer variable annuity products with GMxB features. The risk associated with the GMDB feature is that under-performance of the financial markets could result in GMDB benefits, in the event of death, being higher than what accumulated policyholders’ account balances would support. The risk associated with the GMIB feature is that under-performance of the financial markets could result in the present value of GMIB, in the event of annuitization, being higher than what accumulated policyholders’ account balances would support, taking into account the relationship between current annuity purchase rates and the GMIB guaranteed annuity purchase rates. The risk associated with products that have a GMxB derivative features liability is that under-performance of the financial markets could result in the GMxB derivative features’ benefits being higher than what accumulated policyholders’ account balances would support. For GMxB features, the Company retains certain risks including basis, credit spread and some volatility risk and risk associated with actual versus expected actuarial assumptions for mortality, lapse and surrender, withdrawal and policyholder election rates, among other things. The derivative contracts are managed to correlate with changes in the value of the GMxB features that result from financial markets movements. A portion of exposure to realized equity volatility is hedged using equity options and variance swaps and a portion of exposure to credit risk is hedged using total return swaps on fixed income indices. Additionally, the Company is party to total return swaps for which the reference U.S. Treasury securities are contemporaneously purchased from the market and sold to the swap counterparty. As these transactions result in a transfer of control of the U.S. Treasury securities to the swap counterparty, the Company derecognizes these securities with consequent gain or loss from the sale. The Company has also purchased reinsurance contracts to mitigate the risks associated with GMDB features and the impact of potential market fluctuations on future policyholder elections of GMIB features contained in certain annuity contracts issued by the Company. The reinsurance of the GMIB features is accounted for as a derivative. The Company has in place an economic hedge program using interest rate swaps and U.S. Treasury futures to partially protect the overall profitability of future variable annuity sales against declining interest rates. Derivatives Utilized to Hedge Crediting Rate Exposure on SCS, SIO, MSO and IUL Products/Investment Options The Company hedges crediting rates in the Structured Capital Strategies (“SCS”) variable annuity, Structured Investment Option in the EQUI-VEST variable annuity series (“SIO”), Market Stabilizer Option (“MSO”) in the variable life insurance products and Indexed Universal Life (“IUL”) insurance products. These products permit the contract owner to participate in the performance of an index, Exchange Traded Funds (“ETF”) or commodity price movement up to a cap for a set period of time. They also contain a protection feature, in which the Company will absorb, up to a certain percentage, the loss of value in an index, ETF or commodity price, which varies by product segment. In order to support the returns associated with these features, the Company enters into derivative contracts whose payouts, in combination with fixed income investments, emulate those of the index, ETF or commodity price, subject to caps and buffers, thereby substantially reducing any exposure to market-related earnings volatility. Derivatives Used to Hedge Equity Market Risks Associated with the General Account’s Seed Money Investments in Retail Mutual Funds The Company’s General Account seed money investments in retail mutual funds expose us to market risk, including equity market risk which is partially hedged through equity-index futures contracts to minimize such risk. Derivatives Used to Hedge Universal Life Products with Secondary Guarantee (“ULSG”) Policy The Company implemented a hedge program using fixed income total return swaps to mitigate the interest rate exposure in the ULSG policy statutory liability. Derivatives Used for General Account Investment Portfolio The Company maintains a strategy in its General Account investment portfolio to replicate the credit exposure of fixed maturity securities otherwise permissible for investment under its investment guidelines through the sale of credit default swaps (“CDS”). Under the terms of these swaps, the Company receives quarterly fixed premiums that, together with any initial amount paid or received at trade inception, replicate the credit spread otherwise currently obtainable by purchasing the referenced entity’s bonds of similar maturity. These credit derivatives generally have remaining terms of five years or less and are recorded at fair value with changes in fair value, including the yield component that emerges from initial amounts paid or received, reported in Net derivative gains (losses). The Company manages its credit exposure taking into consideration both cash and derivatives based positions and selects the reference entities in its replicated credit exposures in a manner consistent with its selection of fixed maturities. In addition, the Company generally transacts the sale of CDS in single name reference entities of investment grade credit quality and with counterparties subject to collateral posting requirements. If there is an event of default by the reference entity or other such credit event as defined under the terms of the swap contract, the Company is obligated to perform under the credit derivative and, at the counterparty’s option, either pay the referenced amount of the contract less an auction-determined recovery amount or pay the referenced amount of the contract and receive in return the defaulted or similar security of the reference entity for recovery by sale at the contract settlement auction. The Company purchased CDS to mitigate its exposure to a reference entity through cash positions. These positions do not replicate credit spreads. To date, there have been no events of default or circumstances indicative of a deterioration in the credit quality of the named referenced entities to require or suggest that the Company will have to perform under these CDS. The maximum potential amount of future payments the Company could be required to make under these credit derivatives is limited to the par value of the referenced securities which is the dollar or euro-equivalent of the derivative’s notional amount. The Standard North American CDS Contract (“SNAC”) or Standard European Corporate Contract (“STEC”) under which the Company executes these CDS sales transactions does not contain recourse provisions for recovery of amounts paid under the credit derivative. The Company purchased 30-year TIPS and other sovereign bonds, both inflation linked and non-inflation linked, as General Account investments and enters into asset or cross-currency basis swaps, to result in payment of the given bond’s coupons and principal at maturity in the bond’s specified currency to the swap counterparty in return for fixed dollar amounts. These swaps, when considered in combination with the bonds, together result in a net position that is intended to replicate a dollar-denominated fixed-coupon cash bond with a yield higher than a term-equivalent U.S. Treasury bond. The tables below present quantitative disclosures about the Company’s derivative instruments, including those embedded in other contracts required to be accounted for as derivative instruments. Derivative Instruments by Category At September 30, 2020 Nine Months Ended September 30, 2020 Fair Value Notional Amount Derivative Assets Derivative Liabilities Net Derivative Gains (Losses) (2) (in millions) Derivative instruments: Freestanding derivatives (1): Equity contracts: Futures $ 4,480 $ — $ — $ (401) Swaps 20,718 28 18 (604) Options 31,750 5,557 2,800 (481) Interest rate contracts: Swaps 24,024 1,699 341 3,587 Futures 19,922 — — 2,051 Swaptions — — — 9 Credit contracts: Credit default swaps 1,534 24 18 2 Other freestanding contracts: Foreign currency contracts 416 8 8 (3) Margin — 69 125 — Collateral — 14 4,965 — Embedded derivatives: GMIB reinsurance contracts (3) — 2,818 — 737 GMxB derivative features liability (4) — — 12,204 (3,421) SCS, SIO, MSO and IUL indexed features (5) — — 2,606 414 Total derivative instruments $ 102,844 $ 10,217 $ 23,085 Net derivative gains (losses) $ 1,890 ______________ (1) Reported in Other invested assets in the consolidated balance sheets. (2) Reported in Net derivative gains (losses) in the consolidated statements of income (loss). (3) Reported in GMIB reinsurance contract asset in the consolidated balance sheets. (4) Reported in Future policy benefits and other policyholders’ liabilities in the consolidated balance sheets. (5) Reported in Policyholders’ account balances in the consolidated balance sheets. Derivative Instruments by Category At December 31, 2019 Nine Months Ended September 30, 2019 Fair Value Notional Amount Derivative Assets Derivative Net Derivative (in millions) Derivative instruments: Freestanding derivatives (1): Equity contracts: Futures $ 4,257 $ 1 $ 1 $ (990) Swaps 17,156 9 281 (1,279) Options 47,861 5,098 1,752 1,255 Interest rate contracts: Swaps 23,793 468 526 2,843 Futures 20,901 — — 188 Swaptions 3,201 16 — 146 Credit contracts: Credit default swaps 1,400 21 6 9 Other freestanding contracts: Foreign currency contracts 559 12 9 (11) Margin — 155 — — Collateral — 74 3,016 — Embedded derivatives: GMIB reinsurance contracts (3) — 2,139 — 740 GMxB derivative features liability (4) — — 8,502 (3,677) SCS, SIO, MSO and IUL indexed features (5) — — 3,268 (1,547) Total derivative instruments $ 119,128 $ 7,993 $ 17,361 Net derivative gains (losses) $ (2,323) ______________ (1) Reported in Other invested assets in the consolidated balance sheets. (2) Reported in Net derivative gains (losses) in the consolidated statements of income (loss). (3) Reported in GMIB reinsurance contract asset in the consolidated balance sheets. (4) Reported in Future policy benefits and other policyholders’ liabilities in the consolidated balance sheets. (5) Reported in Policyholders’ account balances in the consolidated balance sheets. Equity-Based and Treasury Futures Contracts Margin All outstanding equity-based and treasury futures contracts at September 30, 2020 and December 31, 2019 are exchange-traded and net settled daily in cash. At September 30, 2020 and December 31, 2019, respectively, the Company had open exchange-traded futures positions on: (i) the S&P 500, Russell 2000 and Emerging Market indices, having initial margin requirements of $381 million and $252 million, (ii) the 2-year, 5-year and 10-year U.S. Treasury Notes on U.S. Treasury bonds and ultra-long bonds, having initial margin requirements of $315 million and $166 million, and (iii) the Euro Stoxx, FTSE 100, Topix, ASX 200 and European, Australasia, and Far East (“EAFE”) indices as well as corresponding currency futures on the Euro/U.S. dollar, Pound/U.S. dollar, Australian dollar/U.S. dollar, and Yen/U.S. dollar, having initial margin requirements of $40 million and $60 million. Collateral Arrangements The Company generally has executed a Credit Support Annex (“CSA”) under the International Swaps and Derivatives Association Master Agreement (“ISDA Master Agreement”) it maintains with each of its over-the-counter (“OTC”) derivative counterparties that requires both posting and accepting collateral either in the form of cash or high-quality securities, such as U.S. Treasury securities, U.S. government and government agency securities and investment grade corporate bonds. The Company nets the fair value of all derivative financial instruments with counterparties for which an ISDA Master Agreement and related CSA have been executed. At September 30, 2020 and December 31, 2019, respectively, the Company held $5.0 billion and $3.0 billion in cash and securities collateral delivered by trade counterparties, representing the fair value of the related derivative agreements. The unrestricted cash collateral is reported in Other invested assets. The Company posted collateral of $14 million and $74 million at September 30, 2020 and December 31, 2019, respectively, in the normal operation of its collateral arrangements. The following table presents information about the Company’s offsetting of financial assets and liabilities and derivative instruments at September 30, 2020: Offsetting of Financial Assets and Liabilities and Derivative Instruments At September 30, 2020 Gross Amount Recognized Gross Amount Offset in the Balance Sheets Net Amount Presented in the Balance Sheets Gross Amount not Offset in the Balance Sheets (3) Net Amount (in millions) Assets: Derivative assets (1) $ 7,398 $ 7,282 $ 116 $ (54) $ 62 Other financial assets 1,686 — 1,686 — 1,686 Other invested assets $ 9,084 $ 7,282 $ 1,802 $ (54) $ 1,748 Liabilities: Derivative liabilities (2) $ 8,222 $ 7,282 $ 940 $ — $ 940 Other financial liabilities 3,924 — 3,924 — 3,924 Other liabilities $ 12,146 $ 7,282 $ 4,864 $ — $ 4,864 ______________ (1) Excludes Investment Management and Research segment’s derivative assets of consolidated VIEs/VOEs. (2) Excludes Investment Management and Research segment’s derivative liabilities of consolidated VIEs/VOEs. (3) Financial instruments sent (held). The following table presents information about the Company’s offsetting of financial assets and liabilities and derivative instruments at December 31, 2019: Offsetting of Financial Assets and Liabilities and Derivative Instruments At December 31, 2019 Gross Amount Recognized Gross Amount Offset in the Balance Sheets Net Amount Presented in the Balance Sheets Gross Amount not Offset in the Balance Sheets (3) Net Amount (in millions) Assets: Derivative assets (1) $ 5,852 $ 5,466 $ 386 $ (77) $ 309 Other financial instruments 2,394 — 2,394 — 2,394 Other invested assets $ 8,246 $ 5,466 $ 2,780 $ (77) $ 2,703 Liabilities: Derivative liabilities (2) $ 5,512 $ 5,466 $ 46 $ — $ 46 Other financial liabilities 3,924 — 3,924 — 3,924 Other liabilities $ 9,436 $ 5,466 $ 3,970 $ — $ 3,970 ______________ (1) Excludes Investment Management and Research segment’s derivative assets of consolidated VIEs/VOEs. (2) Excludes Investment Management and Research segment’s derivative liabilities of consolidated VIEs/VOEs. (3) Financial instruments sent (held).

GOODWILL

GOODWILL	9 Months Ended
	Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL	GOODWILL Goodwill represents the excess of purchase price over the estimated fair value of identifiable net assets acquired in a business combination. The Company tests goodwill for recoverability each annual reporting period at December 31 and at interim periods if facts or circumstances are indicative of potential impairment. See Note 2 for information on the Company’s change in fair value measurement methodology for testing goodwill impairment. The carrying value of goodwill from the Company’s Investment Management and Research reporting unit totaled $4.6 billion at both September 30, 2020 and December 31, 2019, resulting primarily from its investment in AB as well as direct strategic acquisitions of AB, including its purchase of Sanford C. Bernstein, Inc. For purpose of testing this goodwill for impairment, the Company has historically applied a discounted cash flow valuation technique to measure the fair value of the reporting unit, sourcing the underlying cash flows and assumptions from AB’s current business plan projections and adjusting the result to reflect the noncontrolling interest in AB as well as incremental taxes at the Company level as related to the form and structure of its investment in AB. During the first quarter of 2020, the unit price of AB declined significantly in response to the precipitous decline in the financial markets. As such, the Company performed an interim impairment evaluation of goodwill utilizing the discounted cash flow valuation technique and considered the results along with a number of other factors (including current market conditions) and determined that the fair value of the reporting unit exceeded its carrying value at March 31, 2020. As such, no goodwill impairment existed. The Company will continue to monitor and evaluate any events that may indicate an impairment of goodwill.

CLOSED BLOCK

CLOSED BLOCK	9 Months Ended
	Sep. 30, 2020
Closed Block Disclosure [Abstract]
CLOSED BLOCK	CLOSED BLOCK As a result of demutualization, the Company’s Closed Block was established in 1992 for the benefit of certain individual participating policies that were in force on that date. Assets, liabilities and earnings of the Closed Block are specifically identified to support its participating policyholders. Assets allocated to the Closed Block inure solely to the benefit of the Closed Block policyholders and will not revert to the benefit of the Company. No reallocation, transfer, borrowing or lending of assets can be made between the Closed Block and other portions of the Company’s General Account, any of its Separate Accounts or any affiliate of the Company without the approval of the New York State Department of Financial Services (the “NYDFS”). Closed Block assets and liabilities are carried on the same basis as similar assets and liabilities held in the General Account. For more information on the Closed Block, see Note 6 to the Company’s consolidated financial statements included in the Annual Report on Form 10-K for the year ended December 31, 2019. Summarized financial information for the Company’s Closed Block is as follows: September 30, 2020 December 31, 2019 (in millions) Closed Block Liabilities: Future policy benefits, policyholders’ account balances and other $ 6,260 $ 6,478 Policyholder dividend obligation 149 2 Other liabilities 58 38 Total Closed Block liabilities 6,467 6,518 Assets Designated to the Closed Block: Fixed maturities available-for-sale, at fair value (amortized cost of $3,440 and $3,558) (allowance for credit losses of $0 at September 30, 2020) 3,788 3,754 Mortgage loans on real estate (net of allowance for credit losses of $6 at September 30, 2020) 1,782 1,759 Policy loans 656 706 Cash and other invested assets 3 82 Other assets 172 145 Total assets designated to the Closed Block 6,401 6,446 September 30, 2020 December 31, 2019 (in millions) Excess of Closed Block liabilities over assets designated to the Closed Block 66 72 Amounts included in accumulated other comprehensive income (loss): Net unrealized investment gains (losses), net of policyholders’ dividend obligation: $149 and $2; and net of income tax: $42 and $41 168 164 Maximum future earnings to be recognized from Closed Block assets and liabilities $ 234 $ 236 The Company’s Closed Block revenues and expenses were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (in millions) Revenues: Premiums and other income $ 36 $ 42 $ 118 $ 136 Net investment income (loss) 61 69 190 208 Investment gains (losses), net 1 — (1) (1) Total revenues 98 111 307 343 Benefits and Other Deductions: Policyholders’ benefits and dividends 96 108 302 343 Other operating costs and expenses — — 1 1 Total benefits and other deductions 96 108 303 344 Net income (loss), before income taxes 2 3 4 (1) Income tax (expense) benefit (1) — (2) (2) Net income (loss) $ 1 $ 3 $ 2 $ (3)

INSURANCE LIABILITIES

INSURANCE LIABILITIES	9 Months Ended
	Sep. 30, 2020
Insurance [Abstract]
INSURANCE LIABILITIES	INSURANCE LIABILITIES Variable Annuity Contracts – GMDB, GMIB, GIB and GWBL and Other Features The Company has certain variable annuity contracts with GMDB, GMIB, GIB and GWBL and other features in-force that guarantee one of the following: • Return of Premium: the benefit is the greater of current account value or premiums paid (adjusted for withdrawals); • Ratchet: the benefit is the greatest of current account value, premiums paid (adjusted for withdrawals), or the highest account value on any anniversary up to contractually specified ages (adjusted for withdrawals); • Roll-Up: the benefit is the greater of current account value or premiums paid (adjusted for withdrawals) accumulated at contractually specified interest rates up to specified ages; • Combo: the benefit is the greater of the ratchet benefit or the roll-up benefit, which may include either a five year or an annual reset; or • Withdrawal: the withdrawal is guaranteed up to a maximum amount per year for life. Liabilities for Variable Annuity Contracts with GMDB and GMIB Features without No-Lapse Guarantee Rider (“NLG”) Feature The change in the liabilities for variable annuity contracts with GMDB and GMIB features and without a NLG feature are summarized in the tables below. The amounts for the direct contracts (before reinsurance ceded) and assumed contracts are reflected in the consolidated balance sheets in Future policy benefits and other policyholders’ liabilities. The amounts for the ceded contracts are reflected in the consolidated balance sheets in Amounts due from reinsurers. The amounts for the ceded IB are reflected in the consolidated balance sheets in GMIB reinsurance contract asset, at fair value. Change in Liability for Variable Annuity Contracts with GMDB and GMIB Features and No NLG Feature For the Three and Nine Months Ended September 30, 2020 and 2019 GMDB GMIB Direct Assumed Ceded Direct Assumed Ceded (in millions) Balance at July 1, 2020 $ 5,004 $ 70 $ (105) $ 6,122 $ 232 $ (2,931) Paid guarantee benefits (121) (6) 3 (110) (9) 21 Other changes in reserve 233 4 10 113 (3) 92 Balance at September 30, 2020 $ 5,116 $ 68 $ (92) $ 6,125 $ 220 $ (2,818) Balance at July 1, 2019 $ 4,714 $ 76 $ (106) $ 3,759 $ 192 $ (1,897) Paid guarantee benefits (102) (6) 3 (71) 15 20 Other changes in reserve 155 4 (4) 979 (2) (576) Balance at September 30, 2019 $ 4,767 $ 74 $ (107) $ 4,667 $ 205 $ (2,453) GMDB GMIB Direct Assumed Ceded Direct Assumed Ceded (in millions) Balance at January 1, 2020 $ 4,780 $ 76 $ (104) $ 4,673 $ 187 $ (2,139) Paid guarantee benefits (372) (16) 11 (287) 39 58 Other changes in reserve 708 8 1 1,739 (6) (737) Balance at September 30, 2020 $ 5,116 $ 68 $ (92) $ 6,125 $ 220 $ (2,818) Balance at January 1, 2019 $ 4,662 $ 82 $ (113) $ 3,746 $ 184 $ (1,733) Paid guarantee benefits (328) (17) 11 (183) 25 55 Other changes in reserve 433 9 (5) 1,104 (4) (775) Balance at September 30, 2019 $ 4,767 $ 74 $ (107) $ 4,667 $ 205 $ (2,453) Liabilities for Embedded and Freestanding Insurance Related Derivatives The liability for the GMxB derivative features, the liability for SCS, SIO, MSO and IUL indexed features and the asset and liability for the GMIB reinsurance contracts are considered embedded or freestanding insurance derivatives and are reported at fair value. For the fair value of the assets and liabilities associated with these embedded or freestanding insurance derivatives, see Note 8 Fair Value Disclosures. Account Values and Net Amount at Risk Account Values and Net Amount at Risk (“NAR”) for direct and assumed variable annuity contracts in force with GMDB and GMIB features as of September 30, 2020 are presented in the following tables by guarantee type. For contracts with the GMDB feature, the NAR in the event of death is the amount by which the GMDB feature exceeds the related Account Values. For contracts with the GMIB feature, the NAR in the event of annuitization is the amount by which the present value of the GMIB benefits exceed the related Account Values, taking into account the relationship between current annuity purchase rates and the GMIB guaranteed annuity purchase rates. Since variable annuity contracts with GMDB features may also offer GMIB guarantees in the same contract, the GMDB and GMIB amounts listed are not mutually exclusive. Direct Variable Annuity Contracts with GMDB and GMIB Features at September 30, 2020 Guarantee Type Return of Premium Ratchet Roll-Up Combo Total (in millions, except age and interest rate) Variable annuity contracts with GMDB features Account Values invested in: General Account $ 15,155 $ 89 $ 57 $ 171 $ 15,472 Separate Accounts 48,407 8,812 3,021 31,083 91,323 Total Account Values $ 63,562 $ 8,901 $ 3,078 $ 31,254 $ 106,795 Net Amount at Risk, gross $ 125 $ 94 $ 1,864 $ 19,561 $ 21,644 Net Amount at Risk, net of amounts reinsured $ 125 $ 91 $ 1,319 $ 19,561 $ 21,096 Average attained age of policyholders (in years) 51.3 68.1 74.7 70.0 55.3 Percentage of policyholders over age 70 11.0 % 47.7 % 69.8 % 53.3 % 20.0 % Range of contractually specified interest rates N/A N/A 3% - 6% 3% - 6.5% 3% - 6.5% Variable annuity contracts with GMIB features Account Values invested in: General Account $ — $ — $ 17 $ 220 $ 237 Separate Accounts — — 23,124 33,217 56,341 Total Account Values $ — $ — $ 23,141 $ 33,437 $ 56,578 Net Amount at Risk, gross $ — $ — $ 1,100 $ 14,461 $ 15,561 Net Amount at Risk, net of amounts reinsured $ — $ — $ 349 $ 13,066 $ 13,415 Average attained age of policyholders (in years) N/A N/A 64.0 70.0 67.8 Weighted average years remaining until annuitization N/A N/A 5.7 0.7 2.5 Range of contractually specified interest rates N/A N/A 3% - 6% 3% - 6.5% 3% - 6.5% Assumed Variable Annuity Contracts with GMDB and GMIB Features at September 30, 2020 Guarantee Type Return of Premium Ratchet Roll-Up Combo Total (in millions, except age and interest rates) Variable annuity contracts with GMDB features Reinsured Account Values $ 888 $ 4,915 $ 247 $ 1,079 $ 7,129 Net Amount at Risk assumed $ 5 $ 241 $ 14 $ 142 $ 402 Average attained age of policyholders (in years) 68 73 78 76 73 Percentage of policyholders over age 70 45.9 % 65.6 % 79.9 % 76.1 % 65.2 % Range of contractually specified interest rates (1) N/A N/A 3%-10% 5%-10% 3%-10% Guarantee Type Return of Premium Ratchet Roll-Up Combo Total (in millions, except age and interest rates) Variable annuity contracts with GMIB features Reinsured Account Values $ 878 $ 42 $ 217 $ 1,090 $ 2,227 Net Amount at Risk assumed $ 1 $ — $ 27 $ 296 $ 324 Average attained age of policyholders (in years) 72 74 72 70 71 Percentage of policyholders over age 70 65.0 % 62.2 % 61.9 % 54.5 % 59.5 % Range of contractually specified interest rates N/A N/A 3.3%-6.5% 6%-6% 3.3%-6.5% ______________ (1) In general, for policies with the highest contractual interest rate shown (10%), the rate applied only for the first 10 years after issue, which has now elapsed. For more information about the reinsurance programs of the Company’s GMDB and GMIB exposure, see “Reinsurance” in Note 11 to the Company’s consolidated financial statements included in the Annual Report on Form 10-K for the year ended December 31, 2019. Separate Accounts Investments by Investment Category Underlying Variable Annuity Contracts with GMDB and GMIB Features The total Account Values of variable annuity contracts with GMDB and GMIB features include amounts allocated to the guaranteed interest option, which is part of the General Account and variable investment options that invest through Separate Accounts in variable insurance trusts. The following table presents the aggregate fair value of assets, by major investment category, held by Separate Accounts that support variable annuity contracts with GMDB and GMIB features. The investment performance of the assets impacts the related Account Values and, consequently, the NAR associated with the GMDB and GMIB benefits and guarantees. Because the Company’s variable annuity contracts offer both GMDB and GMIB features, GMDB and GMIB amounts are not mutually exclusive. Investment in Variable Insurance Trust Mutual Funds September 30, 2020 December 31, 2019 Mutual Fund Type GMDB GMIB GMDB GMIB (in millions) Equity $ 41,259 $ 16,739 $ 42,489 $ 17,941 Fixed income 5,371 2,679 5,263 2,699 Balanced 43,684 36,656 45,872 38,445 Other 1,009 267 865 263 Total $ 91,323 $ 56,341 $ 94,489 $ 59,348 Hedging Programs for GMDB, GMIB, GIB and Other Features The Company has a program intended to hedge certain risks associated first with the GMDB feature and with the GMIB feature of the Accumulator series of variable annuity products. The program has also been extended to cover other guaranteed benefits as they have been made available. This program utilizes derivative contracts, such as exchange-traded equity, currency and interest rate futures contracts, total return and/or equity swaps, interest rate swap and floor contracts, swaptions, variance swaps as well as equity options, that collectively are managed in an effort to reduce the economic impact of unfavorable changes in guaranteed benefits’ exposures attributable to movements in the capital markets. At the present time, this program hedges certain economic risks on products sold from 2001 forward, to the extent such risks are not externally reinsured. These programs do not qualify for hedge accounting treatment. Therefore, gains (losses) on the derivatives contracts used in these programs, including current period changes in fair value, are recognized in Net derivative gains (losses) in the period in which they occur, and may contribute to income (loss) volatility. Variable and Interest-Sensitive Life Insurance Policies – NLG The NLG feature contained in variable and interest-sensitive life insurance policies keeps them in force in situations where the policy value is not sufficient to cover monthly charges then due. The NLG remains in effect so long as the policy meets a contractually specified premium funding test and certain other requirements. The change in the NLG liabilities, reflected in Future policy benefits and other policyholders’ liabilities in the consolidated balance sheets, is summarized in the table below. Direct Liability (1) Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (in millions) Beginning balance (2) $ 948 $ 845 $ 898 $ 813 Paid guarantee benefits (6) (7) (32) (16) Other changes in reserves 60 54 136 95 Ending balance $ 1,002 $ 892 $ 1,002 $ 892 ______________ (1) There were no amounts of reinsurance ceded in any period presented. (2) The beginning balance for the nine months ended September 30, 2020 was reduced by $22 million to reflect the balance transferred to Assets HFS at December 31, 2019.

FAIR VALUE DISCLOSURES

FAIR VALUE DISCLOSURES	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
FAIR VALUE DISCLOSURES	FAIR VALUE DISCLOSURES U.S. GAAP establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value, and identifies three levels of inputs that may be used to measure fair value: Level 1 Unadjusted quoted prices for identical instruments in active markets. Level 1 fair values generally are supported by market transactions that occur with sufficient frequency and volume to provide pricing information on an ongoing basis. Level 2 Observable inputs other than Level 1 prices, such as quoted prices for similar instruments, quoted prices in markets that are not active, and inputs to model-derived valuations that are directly observable or can be corroborated by observable market data. Level 3 Unobservable inputs supported by little or no market activity and often requiring significant management judgment or estimation, such as an entity’s own assumptions about the cash flows or other significant components of value that market participants would use in pricing the asset or liability. The Company uses unadjusted quoted market prices to measure fair value for those instruments that are actively traded in financial markets. In cases where quoted market prices are not available, fair values are measured using present value or other valuation techniques. The fair value determinations are made at a specific point in time, based on available market information and judgments about the financial instrument, including estimates of the timing and amount of expected future cash flows and the credit standing of counterparties. Such adjustments do not reflect any premium or discount that could result from offering for sale at one time the Company’s entire holdings of a particular financial instrument, nor do they consider the tax impact of the realization of unrealized gains or losses. In many cases, the fair value cannot be substantiated by direct comparison to independent markets, nor can the disclosed value be realized in immediate settlement of the instrument. Management is responsible for the determination of the value of investments carried at fair value and the supporting methodologies and assumptions. Under the terms of various service agreements, the Company often utilizes independent valuation service providers to gather, analyze, and interpret market information and derive fair values based upon relevant methodologies and assumptions for individual securities. These independent valuation service providers typically obtain data about market transactions and other key valuation model inputs from multiple sources and, through the use of widely accepted valuation models, provide a single fair value measurement for individual securities for which a fair value has been requested. As further described below with respect to specific asset classes, these inputs include, but are not limited to, market prices for recent trades and transactions in comparable securities, benchmark yields, interest rate yield curves, credit spreads, quoted prices for similar securities, and other market-observable information, as applicable. Specific attributes of the security being valued also are considered, including its term, interest rate, credit rating, industry sector, and when applicable, collateral quality and other security- or issuer- specific information. When insufficient market observable information is available upon which to measure fair value, the Company either will request brokers knowledgeable about these securities to provide a non-binding quote or will employ internal valuation models. Fair values received from independent valuation service providers and brokers and those internally modeled or otherwise estimated are assessed for reasonableness. Assets and Liabilities Measured at Fair Value on a Recurring Basis Assets and liabilities measured at fair value on a recurring basis are summarized below. At September 30, 2020 and December 31, 2019, no assets were required to be measured at fair value on a non-recurring basis. Fair value measurements are required on a non-recurring basis for certain assets, including goodwill and mortgage loans on real estate, only when an impairment or other event occurs. When such fair value measurements are recorded, they must be classified and disclosed within the fair value hierarchy. Fair Value Measurements at September 30, 2020 Level 1 Level 2 Level 3 Total (in millions) Assets Investments Fixed maturities, AFS: Corporate (1) $ — $ 54,318 $ 1,494 $ 55,812 U.S. Treasury, government and agency — 17,468 — 17,468 States and political subdivisions — 839 39 878 Foreign governments — 905 — 905 Residential mortgage-backed (2) — 160 — 160 Asset-backed (3) — 2,583 13 2,596 Commercial mortgage-backed — 1,117 — 1,117 Redeemable preferred stock 369 74 — 443 Total fixed maturities, AFS 369 77,464 1,546 79,379 Other equity investments 20 — 73 93 Trading securities 414 5,778 52 6,244 Other invested assets: Short-term investments — 126 — 126 Assets of consolidated VIEs/VOEs 19 213 13 245 Swaps — 1,368 — 1,368 Credit default swaps — 6 — 6 Futures — — — — Options — 2,757 — 2,757 Swaptions — — — — Total other invested assets 19 4,470 13 4,502 Cash equivalents 6,331 1,041 — 7,372 Segregated securities — 1,869 — 1,869 GMIB reinsurance contracts asset — — 2,818 2,818 Separate Accounts assets (4) 120,418 2,438 — 122,856 Total Assets $ 127,571 $ 93,060 $ 4,502 $ 225,133 Liabilities GMxB derivative features’ liability $ — $ — $ 12,204 $ 12,204 SCS, SIO, MSO and IUL indexed features’ liability — 2,606 — 2,606 Liabilities of consolidated VIEs and VOEs — 5 — 5 Contingent payment arrangements — — 30 30 Total Liabilities $ — $ 2,611 $ 12,234 $ 14,845 ______________ (1) Corporate fixed maturities includes both public and private issues. (2) Includes publicly traded agency pass-through securities and collateralized obligations. (3) Includes credit-tranched securities collateralized by sub-prime mortgages and other asset types and credit tenant loans. (4) Separate Accounts 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 and commercial mortgages. At September 30, 2020, the fair value of such investments was $356 million. Fair Value Measurements at December 31, 2019 (1) Level 1 Level 2 Level 3 Total (in millions) Assets Investments Fixed maturities, AFS: Corporate (2) $ — $ 46,942 $ 1,257 $ 48,199 U.S. Treasury, government and agency — 15,394 — 15,394 States and political subdivisions — 666 39 705 Foreign governments — 492 — 492 Residential mortgage-backed (3) — 191 — 191 Asset-backed (4) — 749 100 849 Redeemable preferred stock 239 274 — 513 Total fixed maturities, AFS 239 64,708 1,396 66,343 Other equity investments 13 — 97 110 Trading securities 500 6,495 36 7,031 Other invested assets: Short-term investments — 490 — 490 Assets of consolidated VIEs/VOEs 132 457 17 606 Swaps — (327) — (327) Credit default swaps — 15 — 15 Options — 3,346 — 3,346 Swaptions — 16 — 16 Total other invested assets 132 3,997 17 4,146 Cash equivalents 3,497 — — 3,497 Segregated securities — 1,095 — 1,095 GMIB reinsurance contracts asset — — 2,139 2,139 Separate Accounts assets (5) 123,432 2,892 — 126,324 Total Assets $ 127,813 $ 79,187 $ 3,685 $ 210,685 Liabilities GMxB derivative features’ liability $ — $ — $ 8,502 $ 8,502 SCS, SIO, MSO and IUL indexed features’ liability — 3,268 — 3,268 Liabilities of consolidated VIEs and VOEs 1 9 — 10 Contingent payment arrangements — — 23 23 Total Liabilities $ 1 $ 3,277 $ 8,525 $ 11,803 ______________ (1) Excludes amounts reclassified as HFS. (2) Corporate fixed maturities includes both public and private issues. (3) Includes publicly traded agency pass-through securities and collateralized obligations. (4) Includes credit-tranched securities collateralized by sub-prime mortgages and other asset types and credit tenant loans. (5) Separate Accounts 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 and commercial mortgages. At December 31, 2019, the fair value of such investments was $356 million. Public Fixed Maturities The fair values of the Company’s public fixed maturities are generally based on prices obtained from independent valuation service providers and for which the Company maintains a vendor hierarchy by asset type based on historical pricing experience and vendor expertise. Although each security generally is priced by multiple independent valuation service providers, the Company ultimately uses the price received from the independent valuation service provider highest in the vendor hierarchy based on the respective asset type, with limited exception. To validate reasonableness, prices also are internally reviewed by those with relevant expertise through comparison with directly observed recent market trades. Consistent with the fair value hierarchy, public fixed maturities validated in this manner generally are reflected within Level 2, as they are primarily based on observable pricing for similar assets and/or other market observable inputs. Private Fixed Maturities The fair values of the Company’s private fixed maturities are determined from prices obtained from independent valuation service providers. Prices not obtained from an independent valuation service provider are determined by using a discounted cash flow model or a market comparable company valuation technique. In certain cases, these models use observable inputs with a discount rate based upon the average of spread surveys collected from private market intermediaries who are active in both primary and secondary transactions, taking into account, among other factors, the credit quality and industry sector of the issuer and the reduced liquidity associated with private placements. Generally, these securities have been reflected within Level 2. For certain private fixed maturities, the discounted cash flow model or a market comparable company valuation technique may also incorporate unobservable inputs, which reflect the Company’s own assumptions about the inputs market participants would use in pricing the asset. To the extent management determines that such unobservable inputs are significant to the fair value measurement of a security, a Level 3 classification generally is made. Freestanding Derivative Positions The net fair value of the Company’s freestanding derivative positions as disclosed in Note 4 are generally based on prices obtained either from independent valuation service providers or derived by applying market inputs from recognized vendors into industry standard pricing models. The majority of these derivative contracts are traded in the OTC derivative market and are classified in Level 2. The fair values of derivative assets and liabilities traded in the OTC market are determined using quantitative models that require use of the contractual terms of the derivative instruments and multiple market inputs, including interest rates, prices, and indices to generate continuous yield or pricing curves, including overnight index swap (“OIS”) curves, and volatility factors, which then are applied to value the positions. The predominance of market inputs is actively quoted and can be validated through external sources or reliably interpolated if less observable. Level Classifications of the Company’s Financial Instruments Financial Instruments Classified as Level 1 Investments classified as Level 1 primarily include redeemable preferred stock, trading securities, cash equivalents and Separate Accounts assets. Fair value measurements classified as Level 1 include exchange-traded prices of fixed maturities, equity securities and derivative contracts, and net asset values for transacting subscriptions and redemptions of mutual fund shares held by Separate Accounts. Cash equivalents classified as Level 1 include money market accounts, overnight commercial paper and highly liquid debt instruments purchased with an original maturity of three months or less and are carried at cost as a proxy for fair value measurement due to their short-term nature. Financial Instruments Classified as Level 2 Investments classified as Level 2 are measured at fair value on a recurring basis and primarily include U.S. government and agency securities and certain corporate debt securities, such as public and private fixed maturities. As market quotes generally are not readily available or accessible for these securities, their fair value measures are determined utilizing relevant information generated by market transactions involving comparable securities and often are based on model pricing techniques that effectively discount prospective cash flows to present value using appropriate sector-adjusted credit spreads commensurate with the security’s duration, also taking into consideration issuer-specific credit quality and liquidity. Segregated securities classified as Level 2 are U.S. Treasury bills segregated by AB in a special reserve bank custody account for the exclusive benefit of brokerage customers, as required by Rule 15c3-3 of the Exchange Act and for which fair values are based on quoted yields in secondary markets. Observable inputs generally used to measure the fair value of securities classified as Level 2 include benchmark yields, reported secondary trades, issuer spreads, benchmark securities and other reference data. Additional observable inputs are used when available, and as may be appropriate, for certain security types, such as prepayment, default, and collateral information for the purpose of measuring the fair value of mortgage- and asset-backed securities. The Company’s AAA-rated mortgage- and asset-backed securities are classified as Level 2 for which the observability of market inputs to their pricing models is supported by sufficient, albeit more recently contracted, market activity in these sectors. Certain Company products, such as the SCS and EQUI-VEST variable annuity products, IUL and the MSO fund available in some life contracts, offer investment options which permit the contract owner to participate in the performance of an index, ETF or commodity price. These investment options, which depending on the product and on the index selected, can currently have one, three, five or six year terms, provide for participation in the performance of specified indices, ETF or commodity price movement up to a segment-specific declared maximum rate. Under certain conditions that vary by product, e.g., holding these segments for the full term, these segments also shield policyholders from some or all negative investment performance associated with these indices, ETF or commodity prices. These investment options have defined formulaic liability amounts, and the current values of the option component of these segment reserves are accounted for as Level 2 embedded derivatives. The fair values of these embedded derivatives are based on data obtained from independent valuation service providers. Financial Instruments Classified as Level 3 The Company’s investments classified as Level 3 primarily include corporate debt securities, such as private fixed maturities and asset-backed securities. Determinations to classify fair value measures within Level 3 of the valuation hierarchy generally are based upon the significance of the unobservable factors to the overall fair value measurement. Included in the Level 3 classification are fixed maturities with indicative pricing obtained from brokers that otherwise could not be corroborated to market observable data. The Company also issues certain benefits on its variable annuity products that are accounted for as derivatives and are also considered Level 3. The GMIBNLG feature allows the policyholder to receive guaranteed minimum lifetime annuity payments based on predetermined annuity purchase rates applied to the contract’s benefit base if and when the contract account value is depleted and the NLG feature is activated. The GMWB feature allows the policyholder to withdraw at minimum, over the life of the contract, an amount based on the contract’s benefit base. The GWBL feature allows the policyholder to withdraw, each year for the life of the contract, a specified annual percentage of an amount based on the contract’s benefit base. The GMAB feature increases the contract account value at the end of a specified period to a GMAB base. The GIB feature provides a lifetime annuity based on predetermined annuity purchase rates if and when the contract account value is depleted. This lifetime annuity is based on predetermined annuity purchase rates applied to a GIB base. Level 3 also includes the GMIB reinsurance contract assets, which are accounted for as derivative contracts. The GMIB reinsurance contract asset and liabilities’ fair value reflects the present value of reinsurance premiums and recoveries and risk margins over a range of market consistent economic scenarios while GMxB derivative features liability reflects the present value of expected future payments (benefits) less fees, adjusted for risk margins and nonperformance risk, attributable to GMxB derivative features’ liability over a range of market-consistent economic scenarios. The valuations of the GMIB reinsurance contract asset and GMxB derivative features liability incorporate significant non-observable assumptions related to policyholder behavior, risk margins and projections of equity Separate Accounts funds. The credit risks of the counterparty and of the Company are considered in determining the fair values of its GMIB reinsurance contract asset and GMxB derivative features liability positions, respectively, after taking into account the effects of collateral arrangements. Incremental adjustment to the swap curve for non-performance risk is made to the fair values of the GMIB reinsurance contract asset and liabilities and GMIBNLG feature to reflect the claims-paying ratings of counterparties and the Company. Equity and fixed income volatilities were modeled to reflect current market volatilities. Due to the unique, long duration of the GMIBNLG feature, adjustments were made to the equity volatilities to remove the illiquidity bias associated with the longer tenors and risk margins were applied to the non-capital markets inputs to the GMIBNLG valuations. After giving consideration to collateral arrangements, the Company reduced the fair value of its GMIB reinsurance contract asset by $161 million and $110 million at September 30, 2020 and December 31, 2019, respectively, to recognize incremental counterparty non-performance risk and reduced the fair value of its GMIB reinsurance contract liabilities by $29 million and $25 million at September 30, 2020 and December 31, 2019, respectively, to recognize its own incremental non-performance risk. Lapse rates are adjusted at the contract level based on a comparison of the actuarial calculated guaranteed values and the current policyholder account value, which include other factors such as considering surrender charges. Generally, lapse rates are assumed to be lower in periods when a surrender charge applies. A dynamic lapse function reduces the base lapse rate when the guaranteed amount is greater than the account value as in-the-money contracts are less likely to lapse. For valuing the embedded derivative, lapse rates vary throughout the period over which cash flows are projected. The Company’s Level 3 liabilities include contingent payment arrangements associated with acquisitions in 2016 and 2019 by AB. At each reporting date, AB estimates the fair values of the contingent consideration expected to be paid based upon revenue and discount rate projections, using unobservable market data inputs, which are included in Level 3 of the valuation hierarchy. The Company’s consolidated VIEs/VOEs hold investments that are classified as Level 3, primarily corporate bonds that are vendor priced with no ratings available, bank loans, non-agency collateralized mortgage obligations and asset-backed securities. Transfers of Financial Instruments Between Levels 2 and 3 During the nine months ended September 30, 2020, AFS fixed maturities with fair values of $103 million were transferred out of Level 3 and into Level 2 principally due to the availability of trading activity and/or market observable inputs to measure and validate their fair values. In addition, AFS fixed maturities with fair value of $195 million were transferred from Level 2 into the Level 3 classification. These transfers in the aggregate represent approximately 1.6% of total equity at September 30, 2020. During the nine months ended September 30, 2019, AFS fixed maturities with fair values of $104 million were transferred out of Level 3 and into Level 2 principally due to the availability of trading activity and/or market observable inputs to measure and validate their fair values. In addition, AFS fixed maturities with fair value of $14 million were transferred from Level 2 into the Level 3 classification. These transfers in the aggregate represent approximately 0.7% of total equity at September 30, 2019. The tables below present reconciliations for all Level 3 assets and liabilities for the three and nine months ended September 30, 2020 and 2019, respectively. Level 3 Instruments - Fair Value Measurements Corporate State and Political Subdivisions Asset- backed (in millions) Balance, July 1, 2020 $ 1,685 $ 40 $ — Total gains and (losses), realized and unrealized, included in: Net income (loss) as: Net investment income (loss) — — — Investment gains (losses), net (1) — — Subtotal (1) — — Other comprehensive income (loss) 18 (1) — Purchases (155) — 13 Sales (24) — — Transfers into Level 3 (1) (29) — — Transfers out of Level 3 (1) — — — Balance, September 30, 2020 $ 1,494 $ 39 $ 13 Corporate State and Political Subdivisions Asset- backed (in millions) Balance, July 1, 2019 $ 1,302 $ 40 $ 534 Total gains and (losses), realized and unrealized, included in: Net income (loss) as: Net investment income (loss) — — — Investment gains (losses), net — 1 — Subtotal — 1 — Other comprehensive income (loss) (6) — — Purchases (3) — 71 Sales (42) (2) (73) Transfers into Level 3 (1) — — — Transfers out of Level 3 (1) (31) — — Balance, September 30, 2019 $ 1,220 $ 39 $ 532 _____________ (1) Transfers into/out of the Level 3 classification are reflected at beginning-of-period fair values. Corporate State and Asset-backed (in millions) Balance, January 1, 2020 $ 1,257 $ 39 $ 100 Total gains and (losses), realized and unrealized, included in: Net income (loss) as: Net investment income (loss) 2 — — Investment gains (losses), net (14) — — Subtotal (12) — — Other comprehensive income (loss) (36) 1 — Purchases 207 — 13 Sales (114) (1) — Transfers into Level 3 (1) 195 — — Transfers out of Level 3 (1) (3) — (100) Balance, September 30, 2020 $ 1,494 $ 39 $ 13 Balance, January 1, 2019 $ 1,186 $ 39 $ 519 Total gains and (losses), realized and unrealized, included in: Net income (loss) as: Net investment income (loss) 3 — — Investment gains (losses), net — 1 — Subtotal 3 1 — Other comprehensive income (loss) 4 2 5 Purchases 219 — 81 Sales (102) (3) (73) Transfers into Level 3 (1) 14 — — Transfers out of Level 3 (1) (104) — — Balance, September 30, 2019 $ 1,220 $ 39 $ 532 _____________ (1) Transfers into/out of the Level 3 classification are reflected at beginning-of-period fair values. Other Equity Investments GMIB Reinsurance Contract Asset Separate Accounts Assets GMxB Derivative Features Liability Contingent Payment Arrangement (in millions) Balance, July 1, 2020 $ 132 $ 2,931 $ — $ (12,689) $ (28) Realized and unrealized gains (losses), included in Net income (loss) as: Investment gains (losses), net 7 — — — — Net derivative gains (losses) (1) — (103) — 579 — Total realized and unrealized gains (losses) 7 (103) — 579 — Other comprehensive income (loss) (4) — — — — Purchases (2) 21 11 — (115) — Sales (3) (14) (21) — 21 — Settlements (4) — — — — — Activity related to consolidated VIEs/VOEs (3) — — — (1) Transfers into Level 3 (5) — — — — — Transfers out of Level 3 (5) — — — — — Balance, September 30, 2020 $ 139 $ 2,818 $ — $ (12,204) $ (29) Balance, July 1, 2019 $ 134 $ 1,898 $ 25 $ (7,004) $ (25) Realized and unrealized gains (losses), included in Net income (loss) as: Investment gains (losses), net — — — — — Net derivative gains (losses) — 563 — (2,548) — Total realized and unrealized gains (losses) — 563 — (2,548) — Other comprehensive income (loss) — — — — — Purchases (2) 2 11 (5) (102) — Sales (3) (4) (20) (1) 13 — Settlements (4) — — (1) — — Activity related to consolidated VIEs/VOEs — — — — (1) Transfers into Level 3 (5) — — — — — Transfers out of Level 3 (5) (4) — (11) — — Balance, September 30, 2019 $ 128 $ 2,452 $ 7 $ (9,641) $ (26) _____________ (1) The Company’s nonperformance risk impact of ($464) million for the GMxB derivative features liability and ($8) million for the GMIB reinsurance contract asset the three months ended September 2020, respectively, is recorded through Net derivative gains (losses). (2) For the GMIB reinsurance contract asset, and GMxB derivative features liability, represents attributed fee. (3) For the GMIB reinsurance contract asset, represents recoveries from reinsurers and for GMxB derivative features liability represents benefits paid. (4) For contingent payment arrangements, it represents payments settled under the arrangement related to AB acquisitions. (5) Transfers into/out of the Level 3 classification are reflected at beginning-of-period fair values. Other Equity Investments GMIB Reinsurance Contract Asset Separate Accounts Assets GMxB Derivative Features Liability Contingent Payment Arrangement (in millions) Balance, January 1, 2020 $ 150 $ 2,139 $ — $ (8,502) $ (23) Realized and unrealized gains (losses), included in Net income (loss) as: Investment gains (losses), net 14 — — — — Net derivative gains (losses) (1) — 736 — (3,421) — Total realized and unrealized gains (losses) 14 736 — (3,421) — Other comprehensive income (loss) (21) — — — — Purchases (2) 25 33 — (335) (4) Sales (3) (26) (58) — 54 — Settlements (4) — — — — — Change in estimate (5) — (32) — — — Activity related to consolidated VIEs/VOEs (4) — — — (2) Transfers into Level 3 (6) 1 — — — — Transfers out of Level 3 (6) — — — — — Balance, September 30, 2020 $ 139 $ 2,818 $ — $ (12,204) $ (29) Balance, January 1, 2019 $ 165 $ 1,734 $ 21 $ (5,674) $ (7) Realized and unrealized gains (losses), included in Net income (loss) as: Investment gains (losses), net — — — — — Net derivative gains (losses) — 740 — (3,677) — Total realized and unrealized gains (losses) — 740 — (3,677) — Other comprehensive income (loss) — — — — — Purchases (2) 10 33 3 (317) (17) Sales (3) (11) (55) (1) 27 — Settlements (4) — — (4) — — Change in estimate — — — — — Activity related to consolidated VIEs/VOEs (3) — — — (2) Transfers into Level 3 (6) — — — — — Transfers out of Level 3 (6) (33) — (12) — — Balance, September 30, 2019 $ 128 $ 2,452 $ 7 $ (9,641) $ (26) ______________ (1) The Company’s nonperformance risk impact of $42 million for the GMxB derivative features liability and ($33) million for the GMIB reinsurance contract asset the nine months ended September 2020, respectively, is recorded through Net derivative gains (losses). (2) For the GMIB reinsurance contract asset, and GMxB derivative features liability, represents attributed fee. (3) For the GMIB reinsurance contract asset, represents recoveries from reinsurers and for GMxB derivative features liability represents benefits paid. (4) For contingent payment arrangements, it represents payments under the arrangement. (5) For the GMIB reinsurance contract asset, represents a transfer from amounts due from reinsurers. (6) Transfers into/out of the Level 3 classification are reflected at beginning-of-period fair values. The table below details changes in unrealized gains (losses) for the nine months ended September 30, 2020 and 2019 by category for Level 3 assets and liabilities still held at September 30, 2020 and 2019, respectively. Change in Unrealized Gains (Losses) for Level 3 Instruments Net Income (Loss) Investment Gains (Losses), Net Net Derivative Gains (Losses) OCI (in millions) Held at September 30, 2020: Change in unrealized gains (losses): Fixed maturities, AFS Corporate $ — $ — $ (37) State and political subdivisions — — 2 Asset-backed — — — Total fixed maturities, AFS — — (35) GMIB reinsurance contracts — 2,818 — Separate Account assets — GMxB derivative features liability — (12,204) — Total $ — $ (9,386) $ (35) Held at September 30, 2019: Change in unrealized gains (losses): Fixed maturities, AFS Corporate $ — $ — $ 3 State and political subdivisions — — 3 Asset-backed — — 4 Total fixed maturities, AFS — — 10 GMIB reinsurance contracts — 740 — Separate Account assets (1) — — GMxB derivative features liability — (3,677) — Total $ (1) $ (2,937) $ 10 Quantitative and Qualitative Information about Level 3 Fair Value Measurements The following tables disclose quantitative information about Level 3 fair value measurements by category for assets and liabilities at September 30, 2020 and December 31, 2019, respectively. Quantitative Information about Level 3 Fair Value Measurements at September 30, 2020 Fair Value Valuation Technique Significant Unobservable Input Range Weighted Average (2) (in millions) Assets: Investments: Fixed maturities, AFS: Corporate $ 31 Matrix pricing model Spread over Benchmark 220 - 610 bps 278 bps 1,105 Market comparable EBITDA multiples 3.5x-31.8x 14.4x Other equity investments 4 Market comparable companies Revenue multiple 3.5x - 27.9x 9.5x 37 Discounted Cash Flow Earnings multiple 8.0x Fair Value Valuation Technique Significant Unobservable Input Range Weighted Average (2) GMIB reinsurance contract asset 2,818 Discounted cash flow Non-performance risk 60 - 125 bps 72 bps Liabilities: GMIBNLG 11,682 Discounted cash flow Non-performance risk 141.0 bps Assumed GMIB Reinsurance Contracts 219 Discounted cash flow Non-performance risk 92 - 195 bps 147 bps GWBL/GMWB 220 Discounted cash flow Non-performance risk 141.0 bps GIB 77 Discounted cash flow Non-performance risk 141.0 bps GMAB 6 Discounted cash flow Non-performance risk ______________ (1) Mortality rates vary by age and demographic characteristic such as gender. Mortality rate assumptions are based on a combination of company and industry experience. A mortality improvement assumption is also applied. For any given contract, mortality rates vary throughout the period over which cash flows are projected for purposes of valuating the embedded derivatives. (2) For Lapses, Withdrawals, and Utilizations the rates were weighted by counts; for Mortality weighted average rates are shown for all ages combined; and for Withdrawals the weighted averages were based on an estimated split of partial withdrawal and dollar-for-dollar withdrawals. Quantitative Information about Level 3 Fair Value Measurements at December 31, 2019 Fair Valuation Significant Range Weighted Average (in millions) Assets: Investments: Fixed maturities, AFS: Corporate $ 57 Matrix pricing model Spread over benchmark 65 - 580 bps 184 bps 1,025 Market comparable companies EBITDA multiples 3.3x - 56.7x 14.3x Other equity investments 36 Discounted cash flow Earnings multiple 8.0x Fair Valuation Significant Range Weighted Average GMIB reinsurance contract asset 2,139 Discounted cash flow Non-performance risk 55 - 109 bps Liabilities: GMIBNLG 8,135 Discounted cash flow Non-performance risk 124 bps Assumed GMIB Reinsurance Contracts 186 Discounted cash flow Non-performance risk 61 - 141 bps GWBL/GMWB 172 Discounted cash flow Non-performance risk 124 bps GIB 5 Discounted cash flow Non-performance risk 124 bps GMAB 4 Discounted cash flow Lapse rates 1.0% - 10.0% ______________ (1) Mortality rates vary by age and demographic characteristic such as gender. Mortality rate assumptions are based on a combination of company and industry experience. A mortality improvement assumption is also applied. For any given contract, mortality rates vary throughout the period over which cash flows are projected for purposes of valuating the embedded derivatives. Level 3 Financial Instruments for which Quantitative Inputs are Not Available Certain Privately Placed Debt Securities with Limited Trading Activity Excluded from the tables above at Septembe

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	9 Months Ended
	Sep. 30, 2020
Retirement Benefits [Abstract]
Employee Benefit Plans	EMPLOYEE BENEFIT PLANS Pension Plans Holdings and Equitable Financial Retirement Plans Holdings sponsors the MONY Life Retirement Income Security Plan for Employees and Equitable Life sponsors the Equitable Retirement Plan (the “Equitable Financial QP”), both of which are frozen qualified defined benefit plans covering eligible employees and financial professionals. These pension plans are non-contributory, and their benefits are generally based on a cash balance formula and/or, for certain participants, years of service and average earnings over a specified period. Holdings and Equitable Financial also sponsor certain nonqualified defined benefit plans, including the Equitable Excess Retirement Plan, that provide retirement benefits in excess of the amount permitted under the tax law for the qualified plans. Holdings has assumed primary liability for both the Equitable Financial QP and the Equitable Financial nonqualified defined benefit plans. Equitable Financial remains secondarily liable for its obligations under the Equitable Financial QP and its nonqualified defined benefits plans and would recognize such liability in the event Holdings does not perform. AB Retirement Plans AB maintains a qualified, non-contributory, defined benefit retirement plan covering current and former employees who were employed by AB in the United States prior to October 2, 2000 (the “AB Plan”). Benefits under the AB Plan are based on years of credited service, average final base salary, and primary Social Security benefits. Net Periodic Pension Expense Components of net periodic pension expense for the Company’s plans were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (in millions) Service cost $ 3 $ 2 $ 7 $ 8 Interest cost 23 30 68 91 Expected return on assets (36) (37) (110) (114) Actuarial (gain) loss — — 1 1 Net amortization 27 26 82 74 Impact of Settlement 4 — 4 — Net periodic pension expense $ 21 $ 21 $ 52 $ 60

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Income tax expense for the three and nine months ended September 30, 2020 and 2019 was computed using an estimated annual effective tax rate (“ETR”), with discrete items recognized in the period in which they occur. The estimated ETR is revised, as necessary, at the end of successive interim reporting periods.

EQUITY

EQUITY	9 Months Ended
	Sep. 30, 2020
Equity [Abstract]
EQUITY	EQUITY Preferred Stock Preferred stock authorized, issued and outstanding was as follows: September 30, 2020 December 31, 2019 Series Shares Authorized Shares Shares Outstanding Shares Authorized Shares Shares Outstanding Series A (1) 32,000 32,000 32,000 32,000 32,000 32,000 Series B (2) 20,000 20,000 20,000 — — — Total 52,000 52,000 52,000 32,000 32,000 32,000 Series B Fixed Rate Reset Noncumulative Perpetual Preferred Stock On August 11, 2020, Holdings issued 500,000 depositary shares, each representing a 1/25th interest in a share of the Company’s Series B Fixed Rate Reset Noncumulative Perpetual Preferred Stock (“Series B Preferred Stock”), $1.00 par value per share and liquidation preference of $25,000 per share, for aggregate net cash proceeds of $494 million ($500 million gross). The Series B Preferred Stock ranks senior to Holdings’ common stock and on parity with Holdings’ Series A Preferred Stock with respect to the payment of dividends and liquidation. Holdings will pay dividends on the Series B Preferred Stock on a noncumulative basis only when, as and if declared by the Company’s Board of Directors (or a duly authorized committee of the Board) and will be payable semi-annually in arrears, at an annual rate equal to the fixed rate of 4.950%, which is reset every 5 years starting on December 15, 2025 (“Reset Date”), at a rate per annum equal to the five-year U.S. Treasury Rate plus 4.736%. In connection with the issuance of the depositary shares and the underlying Series B Preferred Stock, Holdings incurred $6 million of issuance costs, which have been recorded as a reduction of additional paid-in capital. The Series B Preferred Stock is redeemable at Holdings’ option in whole or in part, from time to time, during the three-month period prior to, and including, each Reset Date, at a redemption price equal to $25,000 per share of preferred stock, plus any declared and unpaid dividends. Furthermore, the preferred stock is redeemable at Holdings’ option, in whole but not in part at any time, within 90 days after the occurrence of certain rating agency events at a redemption price equal to $25,500 per share, plus any declared and unpaid dividends or after the occurrence of certain regulatory capital events at a redemption price equal to $25,000 per share, plus any declared and unpaid dividends. Preferred Stock Dividends to Shareholders Dividends declared per share were as follows for the periods indicated: Three Months Ended September 30, Nine months ended September 30, 2020 2019 2020 2019 Series A dividends declared $ 328.13 $ — $ 1,049.99 $ — Series B dividends declared $ — $ — $ — $ — Common Stock Dividends to Shareholders Dividends declared per share of common stock were as follows for the periods indicated: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Dividends declared $ 0.17 $ 0.15 $ 0.49 $ 0.43 Share Repurchase On November 6, 2019, Holdings’ Board of Directors authorized a $400 million share repurchase program with an expiration date of December 31, 2020. On February 26, 2020, Holdings’ Board of Directors authorized an increase of $600 million to the capacity of this program as well as the extension of the term of the program until March 31, 2021. Under this program, Holdings may, from time to time through March 31, 2021, purchase up to $1.0 billion of its common stock but it is not obligated to purchase any particular number of shares. Repurchases may be effected 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, as amended (the “Exchange Act”). During the three and nine months ended September 30, 2020, Holdings repurchased 4.7 million and 19.7 million shares of its common stock in the open market. As of September 30, 2020, Holdings had capacity of approximately $270 million remaining in its stock repurchase program. Accumulated Other Comprehensive Income (Loss) AOCI represents cumulative gains (losses) on items that are not reflected in Net income (loss). The balances as of September 30, 2020 and 2019 follow: September 30, 2020 2019 (in millions) Unrealized gains (losses) on investments $ 5,115 $ 2,459 Defined benefit pension plans (912) (883) Foreign currency translation adjustments (56) (74) Total accumulated other comprehensive income (loss) 4,148 1,502 Less: Accumulated other comprehensive income (loss) attributable to noncontrolling interest (40) (44) Accumulated other comprehensive income (loss) attributable to Holdings $ 4,188 $ 1,546 The components of OCI, net of taxes for the three and nine months ended September 30, 2020 and 2019 follow: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (in millions) Change in net unrealized gains (losses) on investments: Net unrealized gains (losses) arising during the period $ 309 $ 1,279 $ 4,675 $ 4,002 (Gains) losses reclassified into net income (loss) during the period (1) (26) (158) (225) (153) Net unrealized gains (losses) on investments 283 1,121 4,450 3,849 Adjustments for policyholders’ liabilities, DAC, insurance liability loss recognition and other (54) (375) (1,177) (975) Change in unrealized gains (losses), net of adjustments (net of deferred income tax expense (benefit) of $61, $198, $870 and $759) 229 746 3,273 2,874 Change in defined benefit plans: Reclassification to Net income (loss) of amortization of net prior service credit included in net periodic cost 21 18 71 85 Change in defined benefit plans (net of deferred income tax expense (benefit) of $6, $7, $19 and $25) 21 18 71 85 Foreign currency translation adjustments: Foreign currency translation gains (losses) arising during the period 16 (12) 1 (12) Foreign currency translation adjustment 16 (12) 1 (12) Total other comprehensive income (loss), net of income taxes 266 752 3,345 2,947 Less: Other comprehensive income (loss) attributable to noncontrolling interest 6 (5) 1 (7) Other comprehensive income (loss) attributable to Holdings $ 260 $ 757 $ 3,344 $ 2,954 _______________ (1) See “Reclassification adjustments” in Note 3. Reclassification amounts presented net of income tax expense (benefit) of $(7) million, $(42) million, $(60) million, and $(41) million for the three and nine months ended September 30, 2020 and 2019, respectively Investment gains and losses reclassified from AOCI to Net income (loss) primarily consist of realized gains (losses) on sales and credit losses of AFS securities and are included in Total investment gains (losses), net on the consolidated statements of income (loss). Amounts reclassified from AOCI to Net income (loss) as related to defined benefit plans primarily consist of amortization of net (gains) losses and net prior service cost (credit) recognized as a component of net periodic cost and reported in Compensation and benefits in the consolidated statements of income (loss). Amounts presented in the table above are net of tax.

REDEEMABLE NONCONTROLLING INTER

REDEEMABLE NONCONTROLLING INTEREST	9 Months Ended
	Sep. 30, 2020
Noncontrolling Interest [Abstract]
REDEEMABLE NONCONTROLLING INTEREST	REDEEMABLE NONCONTROLLING INTEREST The changes in the components of redeemable noncontrolling interests are presented in the table that follows: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (in millions) Balance, beginning of period $ 87 $ 257 $ 365 $ 187 Net earnings (loss) attributable to redeemable noncontrolling interests 1 7 (4) 26 Purchase/change of redeemable noncontrolling interests 7 74 (266) 125 Balance, end of period $ 95 $ 338 $ 95 $ 338

COMMITMENTS AND CONTINGENT LIAB

COMMITMENTS AND CONTINGENT LIABILITIES	9 Months Ended
	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENT LIABILITIES	COMMITMENTS AND CONTINGENT LIABILITIES Litigation Litigation, regulatory and other loss contingencies arise in the ordinary course of the Company’s activities as a diversified financial services firm. The Company is a defendant in a number of litigation matters arising from the conduct of its business. In some of these matters, claimants seek to recover very large or indeterminate amounts, including compensatory, punitive, treble and exemplary damages. Modern pleading practice permits considerable variation in the assertion of monetary damages and other relief. Claimants are not always required to specify the monetary damages they seek, or they may be required only to state an amount sufficient to meet a court’s jurisdictional requirements. Moreover, some jurisdictions allow claimants to allege monetary damages that far exceed any reasonably possible verdict. The variability in pleading requirements and past experience demonstrates that the monetary and other relief that may be requested in a lawsuit or claim often bears little relevance to the merits or potential value of a claim. Litigation against the Company includes a variety of claims including, among other things, insurers’ sales practices, alleged agent misconduct, alleged failure to properly supervise agents, contract administration, product design, features and accompanying disclosure, cost of insurance increases, payments of death benefits and the reporting and escheatment of unclaimed property, alleged breach of fiduciary duties, alleged mismanagement of client funds and other matters. As with other financial services companies, the Company periodically receives informal and formal requests for information from various state and federal governmental agencies and self-regulatory organizations in connection with inquiries and investigations of the products and practices of the Company or the financial services industry. It is the practice of the Company to cooperate fully in these matters. The outcome of a litigation or regulatory matter is difficult to predict, and the amount or range of potential losses associated with these or other loss contingencies requires significant management judgment. It is not possible to predict the ultimate outcome or to provide reasonably possible losses or ranges of losses for all pending regulatory matters, litigation and other loss contingencies. While it is possible that an adverse outcome in certain cases could have a material adverse effect upon the Company’s financial position, based on information currently known, management believes that neither the outcome of pending litigation and regulatory matters, nor potential liabilities associated with other loss contingencies, are likely to have such an effect. However, given the large and indeterminate amounts sought in certain litigation and the inherent unpredictability of all such matters, it is possible that an adverse outcome in certain of the Company’s litigation or regulatory matters, or liabilities arising from other loss contingencies, could, from time to time, have a material adverse effect upon the Company’s results of operations or cash flows in a particular quarterly or annual period. For some matters, the Company is able to estimate a possible range of loss. For such matters in which a loss is probable, an accrual has been made. For matters where the Company believes a loss is reasonably possible, but not probable, no accrual is required. For matters for which an accrual has been made, but there remains a reasonably possible range of loss in excess of the amounts accrued or for matters where no accrual is required, the Company develops an estimate of the unaccrued amounts of the reasonably possible range of losses. As of September 30, 2020, the Company estimates the aggregate range of reasonably possible losses, in excess of any amounts accrued for these matters as of such date, to be up to approximately $100 million. For other matters, the Company is currently not able to estimate the reasonably possible loss or range of loss. The Company is often unable to estimate the possible loss or range of loss until developments in such matters have provided sufficient information to support an assessment of the range of possible loss, such as quantification of a damage demand from plaintiffs, discovery from plaintiffs and other parties, investigation of factual allegations, rulings by a court on motions or appeals, analysis by experts and the progress of settlement discussions. On a quarterly and annual basis, the Company reviews relevant information with respect to litigation and regulatory contingencies and updates the Company’s accruals, disclosures and reasonably possible losses or ranges of loss based on such reviews. In August 2015, a lawsuit was filed in Connecticut Superior Court, Judicial Division of New Haven entitled Richard T. O’Donnell, on behalf of himself and all others similarly situated v. AXA Equitable Life Insurance Company. This lawsuit is a putative class action on behalf of all persons who purchased variable annuities from Equitable Financial, which were subsequently subjected to the volatility management strategy and who suffered injury as a result thereof. Plaintiff asserts a claim for breach of contract alleging that Equitable Financial implemented the volatility management strategy in violation of applicable law. Plaintiff seeks an award of damages individually and on a classwide basis, and costs and disbursements, including attorneys’ fees, expert witness fees and other costs. In November 2015, the Connecticut Federal District Court transferred this action to the United States District Court for the Southern District of New York. In March 2017, the Southern District of New York granted Equitable Financial’s motion to dismiss the complaint. In April 2017, the plaintiff filed a notice of appeal. In April 2018, the United States Court of Appeals for the Second Circuit reversed the trial court’s decision with instructions to remand the case to Connecticut state court. In September 2018, the Second Circuit issued its mandate, following Equitable Financial’s notification to the court that it would not file a petition for writ of certiorari. The case was transferred in December 2018 to the Connecticut Superior Court, Judicial District of Stamford. In December 2018, Equitable Financial sought dismissal of the complaint by filing a motion to strike, which the court granted in August 2019. Plaintiff filed an Amended Class Action Complaint in September 2019. Equitable Financial filed a motion for entry of judgment in October 2019. On August 3, 2020, the court granted Equitable Financial’s motion for entry of judgment. In August 2020, Plaintiff filed a notice of appeal. We are vigorously defending this matter. In February 2016, a lawsuit was filed in the United States District Court for the Southern District of New York entitled Brach Family Foundation, Inc. v. AXA Equitable Life Insurance Company. This lawsuit is a putative class action brought on behalf of all owners of universal life (“UL”) policies subject to Equitable Financial’s COI rate increase. In early 2016, Equitable Financial raised COI rates for certain UL policies issued between 2004 and 2007, which had both issue ages 70 and above and a current face value amount of $1 million and above. A second putative class action was filed in Arizona in 2017 and consolidated with the Brach matter. The current consolidated amended class action complaint alleges the following claims: breach of contract; misrepresentations by Equitable Financial in violation of Section 4226 of the New York Insurance Law; violations of New York General Business Law Section 349; and violations of the California Unfair Competition Law, and the California Elder Abuse Statute. Plaintiffs seek: (a) compensatory damages, costs, and, pre- and post-judgment interest; (b) with respect to their claim concerning Section 4226, a penalty in the amount of premiums paid by the plaintiffs and the putative class; and (c) injunctive relief and attorneys’ fees in connection with their statutory claims. In August 2020, the federal district court issued a decision granting in part Brach Plaintiffs’ motion for class certification. The court certified nationwide breach of contract and Section 4226 classes, and a New York State Section 349 class, and class notice has gone out. Equitable Financial filed a petition seeking permission to appeal the decision to certify the Section 4226 class and New York State Section 349 class. Five other federal actions challenging the COI rate increase are also pending against Equitable Financial and have been coordinated with the Brach action for the purposes of pre-trial activities. They contain allegations similar to those in the Brach action as well as additional allegations for violations of various states’ consumer protection statutes and common law fraud. Three actions are also pending against Equitable Financial in New York state court. Equitable Financial is vigorously defending each of these matters. Pre-Capitalized Trust Securities (“P-Caps”) In April 2019, pursuant to separate Purchase Agreements among Holdings, Credit Suisse Securities (USA) LLC, as representative of the several initial purchasers, and the Trusts (as defined below), Pine Street Trust I, a Delaware statutory trust (the “2029 Trust”), completed the issuance and sale of 600,000 of its Pre-Capitalized Trust Securities redeemable February 15, 2029 (the “2029 P-Caps”) for an aggregate purchase price of $600 million and Pine Street Trust II, a Delaware statutory trust (the “2049 Trust” and, together with the 2029 Trust, the “Trusts”), completed the issuance and sale of 400,000 of its Pre-Capitalized Trust Securities redeemable February 15, 2049 (the “2049 P-Caps” and, together with the 2029 P-Caps, the “P-Caps”) for an aggregate purchase price of $400 million in each case to qualified institutional buyers in reliance on Rule 144A that are also “qualified purchasers” for purposes of Section 3(c)(7) of the Investment Company Act of 1940, as amended. The P-Caps are an off-balance sheet contingent funding arrangement that, upon Holdings’ election, gives Holdings the right over a ten thirty Obligations under Funding Agreements Federal Home Loan Bank of New York As a member of the FHLB, Equitable Financial has access to collateralized borrowings. It also may issue funding agreements to the FHLB. Both the collateralized borrowings and funding agreements would require Equitable Financial to pledge qualified mortgage-backed assets and/or government securities as collateral. Equitable Financial issues short-term funding agreements to the FHLB and uses the funds for asset, liability, and cash management purposes. Equitable Financial issues long-term funding agreements to the FHLB and uses the funds for spread lending purposes. Entering into FHLB membership, borrowings and funding agreements requires the ownership of FHLB stock and the pledge of assets as collateral. Equitable Financial has purchased FHLB stock of $320 million and pledged collateral with a carrying value of $8.7 billion, as of September 30, 2020. Funding agreements are reported in Policyholders’ account balances in the consolidated balance sheets. For other instruments used for asset/liability and cash management purposes, see “Derivative and offsetting assets and liabilities” included in Note 4. The table below summarizes the Company’s activity of funding agreements with the FHLB. Change in FHLB Funding Agreements during the Nine Months Ended September 30, 2020 Outstanding Balance at December 31, 2019 Issued During the Period Repaid During the Period Long-term Agreements Maturing Within One Year Long-term Agreements Maturing Within Five Years Outstanding Balance at September 30, 2020 (in millions) Short-term funding agreements: Due in one year or less $ 4,608 $ 34,298 $ 34,358 $ 490 $ — $ 5,038 Long-term funding agreements: Due in years two through five 1,646 — — (490) 112 1,268 Due in more than five years 646 — — — (112) 534 Total long-term funding agreements 2,292 — — (490) — 1,802 Total funding agreements (1) $ 6,900 $ 34,298 $ 34,358 $ — $ — $ 6,840 _____________ (1) The $8 million and $9 million difference between the funding agreements carrying value shown in fair value table for September 30, 2020 and December 31, 2019, respectively, reflects the remaining amortization of a hedge implemented and closed, which locked in the funding agreements borrowing rates. Funding Agreement-Backed Notes Program Under the FABN, Equitable Financial may issue funding agreements to a Delaware special purpose statutory trust (the “Trust”) in exchange for the proceeds from issuances of fixed and floating rate medium-term marketable notes issued by the Trust from time to time (the “Trust notes”). The funding agreements have matching interest and maturity payment terms to the applicable Trust notes. The maximum aggregate principal amount of Trust notes permitted to be outstanding at any one time is $5 billion. Funding agreements issued to the Trust are reported in policyholders’ account balances in the consolidated balance sheets. The table below summarizes the Equitable Financial’s activity of funding agreements under the FABN. Change in FABN Funding Agreements during the Nine Months Ended September 30, 2020 Outstanding Balance at December 31, 2019 Issued During the Period Repaid During the Period Long-term agreements maturing within one year Long-term Agreements Maturing Within Five Years Outstanding Balance at September 30, 2020 (in millions) Short-term funding agreements: Due in one year or less — $ — $ — $ — $ — $ — Long-term funding agreements: Due in years two through five — 650 — — — 650 Due in more than five years — 500 — — — 500 Total long-term funding agreements — 1,150 — — — 1,150 Total funding agreements (1) $ — $ 1,150 $ — $ — $ — $ 1,150 _____________ (1) The$7 million difference between the funding agreements notional value shown and carrying value table at September 30, 2020, reflects the remaining amortization of the issuance cost of the funding agreements. Credit Facilities The Company has a $2.5 billion five Guarantees and Other Commitments The Company provides certain guarantees or commitments to affiliates and others. At September 30, 2020, these arrangements include commitments by the Company to provide equity financing of $1.3 billion (including $217 million with affiliates) to certain limited partnerships and real estate joint ventures under certain conditions. Management believes the Company will not incur material losses as a result of these commitments. The Company is the obligor under certain structured settlement agreements it had entered into with unaffiliated insurance companies and beneficiaries. To satisfy its obligations under these agreements, the Company owns single premium annuities issued by previously wholly-owned life insurance subsidiaries. The Company has directed payment under these annuities to be made directly to the beneficiaries under the structured settlement agreements. A contingent liability exists with respect to these agreements should the previously wholly-owned subsidiaries be unable to meet their obligations. Management believes the need for the Company to satisfy those obligations is remote. The Company had $17 million of undrawn letters of credit related to reinsurance at September 30, 2020. The Company had $469 million of commitments under existing mortgage loan agreements at September 30, 2020.

BUSINESS SEGMENT INFORMATION

BUSINESS SEGMENT INFORMATION	9 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
BUSINESS SEGMENT INFORMATION	BUSINESS SEGMENT INFORMATION The Company has four reportable segments: Individual Retirement, Group Retirement, Investment Management and Research and Protection Solutions. These segments reflect the manner by which the Company’s chief operating decision maker views and manages the business. A brief description of these segments follows: • The Individual Retirement segment offers a diverse suite of variable annuity products which are primarily sold to affluent and high net worth individuals saving for retirement or seeking retirement income. • The Group Retirement segment offers tax-deferred investment and retirement services or products to plans sponsored by educational entities, municipalities and not-for-profit entities, as well as small and medium-sized businesses. • The Investment Management and Research segment provides diversified investment management, research and related solutions globally to a broad range of clients through three main client channels - Institutional, Retail and Private Wealth Management - and distributes its institutional research products and solutions through Bernstein Research Services. • The Protection Solutions segment includes our life insurance and group employee benefits businesses. Our life insurance business offers a variety of variable universal life, universal life and term life products to help affluent and high net worth individuals, as well as small and medium-sized business owners, with their wealth protection, wealth transfer and corporate needs. Our group employee benefits business offers a suite of dental, vision, life, and short- and long-term disability and other insurance products to small and medium-size businesses across the United States. Measurement Operating earnings (loss) is the financial measure which primarily focuses on the Company’s segments’ results of operations as well as the underlying profitability of the Company’s core business. By excluding items that can be distortive and unpredictable such as investment gains (losses) and investment income (loss) from derivative instruments, the Company believes Operating earnings (loss) by segment enhances the understanding of the Company’s underlying drivers of profitability and trends in the Company’s segments. Operating earnings is calculated by adjusting each segment’s Net income (loss) attributable to Holdings for the following items: • Items related to variable annuity product features, which include: (i) certain changes in the fair value of the derivatives and other securities we use to hedge these features; (ii) the effect of benefit ratio unlock adjustments related to extraordinary economic conditions or events such as COVID-19; and (iii) changes in the fair value of the embedded derivatives reflected within variable annuity products’ net derivative results and the impact of these items on DAC amortization on our SCS product. • Investment (gains) losses, which includes credit loss impairments of securities/investments, sales or disposals of securities/investments, realized capital gains/losses and valuation allowances; • Net actuarial (gains) losses, which includes actuarial gains and losses as a result of differences between actual and expected experience on pension plan assets or projected benefit obligation during a given period related to pension, other postretirement benefit obligations, and the one-time impact of the settlement of the defined benefit obligation; • Other adjustments, which includes restructuring costs related to severance, lease write-offs related to non-recurring restructuring activities, separation costs and impacts related to COVID-19; and • Income tax expense (benefit) related to the above items and non-recurring tax items, which includes the effect of uncertain tax positions for a given audit period. Revenues derived from any customer did not exceed 10% of revenues for the three and nine months ended September 30, 2020 and 2019. The table below presents Operating earnings (loss) by segment and Corporate and Other and a reconciliation to Net income (loss) attributable to Holdings for the three and nine months ended September 30, 2020 and 2019, respectively: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (in millions) Net income (loss) attributable to Holdings $ (779) $ (374) $ 590 $ (818) Adjustments related to: Variable annuity product features (1) 1,620 1,431 473 3,167 Investment (gains) losses (17) (199) (190) (176) Net actuarial (gains) losses related to pension and other postretirement benefit obligations 31 24 86 72 Other adjustments (2) (3) 66 73 836 200 Income tax expense (benefit) related to above adjustments (4) (357) (278) (253) (685) Non-recurring tax items 4 (4) 12 (56) Non-GAAP Operating Earnings $ 568 $ 673 $ 1,554 $ 1,704 Operating earnings (loss) by segment: Individual Retirement $ 371 $ 465 $ 1,094 $ 1,206 Group Retirement $ 129 $ 105 $ 325 $ 281 Investment Management and Research $ 104 $ 93 $ 291 $ 250 Protection Solutions $ 51 $ 100 $ 88 $ 207 Corporate and Other (5) $ (87) $ (90) $ (244) $ (240) ______________ (1) Includes COVID-19 impact on Variable annuity product features due to a first quarter 2020 assumption update of $1.5 billion and other COVID-19 related impacts of $35 million for the nine months ended September 30, 2020. (2) Includes COVID-19 impact on Other adjustments due to a first quarter 2020 assumption update of $1,049 million and other COVID-19 related impacts of $86 million for the nine months ended September 30, 2020. (3) Include separation costs of $37 million, $39 million,$108 million and $121 million for the three and nine months ended September 30, 2020 and 2019, respectively. (4) Includes income taxes of $554 million for the above COVID-19 items for the nine months ended September 30, 2020. (5) Includes interest expense and financing fees of $56 million, $59 million, $164 million and $170 million for the three and nine months ended September 30, 2020 and 2019, respectively. Segment revenues is a measure of the Company’s revenue by segment as adjusted to exclude certain items. The following table reconciles segment revenues to total revenues by excluding the following items: • Items related to variable annuity product features, which include certain changes in the fair value of the derivatives and other securities we use to hedge these features and changes in the fair value of the embedded derivatives reflected within the net derivative results of variable annuity product features; • Investment (gains) losses, which includes credit loss impairments of securities/investments, sales or disposals of securities/investments, realized capital gains/losses and valuation allowances; • Other adjustments, which includes investment income (loss) from certain derivative instruments, excluding derivative instruments used to hedge risks associated with interest margins on interest sensitive life and annuity contracts and freestanding and embedded derivatives associated with products with GMxB features. The table below presents segment revenues for the three and nine months ended September 30, 2020 and 2019. Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (in millions) Segment revenues: Individual Retirement (1) $ 1,079 $ 1,181 $ 3,352 $ 3,253 Group Retirement (1) 301 273 829 791 Investment Management and Research (2) 899 872 2,650 2,500 Protection Solutions (1) 751 855 2,344 2,524 Corporate and Other (1) 300 302 881 914 Adjustments related to: Variable annuity product features (1,512) (608) 1,160 (2,244) Investment gains (losses), net 17 199 190 176 Other adjustments to segment revenues (3) 5 4 493 29 Total revenues $ 1,840 $ 3,078 $ 11,899 $ 7,943 ______________ (1) Includes investment expenses charged by AB of $17 million, $18 million, $51 million and $57 million for the three and nine months ended September 30, 2020 and 2019, respectively, for services provided to the Company. (2) Inter-segment investment management and other fees of $28 million, $26 million, $82 million and $77 million for the three and nine months ended September 30, 2020 and 2019, respectively, are included in segment revenues of the Investment Management and Research segment. (3) Includes COVID-19 impact on other adjustments due to an assumption update of $46 million and other COVID-19 related impacts of $(30) million for the nine months ended September 30, 2020. The table below presents total assets by segment as of September 30, 2020 and December 31, 2019: September 30, 2020 December 31, 2019 (in millions) Total assets by segment: Individual Retirement $ 129,265 $ 123,627 Group Retirement 47,745 43,590 Investment Management and Research 10,736 10,170 Protection Solutions 47,166 46,832 Corporate and Other 27,584 25,599 Total assets $ 262,496 $ 249,818

EARNINGS PER COMMON SHARE

EARNINGS PER COMMON SHARE	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
EARNINGS PER COMMON SHARE	EARNINGS PER COMMON SHAREThe following table presents a reconciliation of Net income (loss) and Weighted-average common shares used in calculating basic and diluted Earnings per common share for the periods indicated: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (in millions) Weighted-average common shares outstanding: Weighted-average common shares outstanding — basic 447.5 490.4 453.0 499.8 Effect of dilutive potential common shares: Employee share awards (1) — — 1.1 — Weighted-average common shares outstanding — diluted (2) (3) 447.5 490.4 454.1 499.8 Net income (loss): Net income (loss) (705) $ (306) $ 787 $ (617) Less: Net income (loss) attributable to the noncontrolling interest 74 68 197 201 Net income (loss) attributable to Holdings (779) (374) 590 (818) Less: Preferred stock dividends 11 — 34 — Net income (loss) available to Holdings’ common shareholders $ (790) $ (374) $ 556 $ (818) Earnings per common share: Basic $ (1.77) $ (0.76) $ 1.23 $ (1.64) Diluted $ (1.77) $ (0.76) $ 1.22 $ (1.64) _____________ (1) Calculated using the treasury stock method. (2) Due to net loss for the three months ended September 30, 2020 and three and nine months ended September 30, 2019 , approximately 1.5 million, 1.0 million and 0.8 million more shares, respectively, were excluded from the diluted earnings per common share calculation than would have been excluded as being anti-dilutive under the treasury stock method. (3) Weighted-average common shares outstanding - diluted may not foot precisely due to rounding. For the three and nine months ended September 30, 2020 and 2019, 8.2 million, 8.4 million, 4.6 million and 6.2 million of outstanding stock awards, respectively, were not included in the computation of diluted earnings per share because their effect was anti-dilutive.

REVISION OF PRIOR PERIOD FINANC

REVISION OF PRIOR PERIOD FINANCIAL STATEMENTS	9 Months Ended
	Sep. 30, 2020
Accounting Changes and Error Corrections [Abstract]
REVISION OF PRIOR PERIOD FINANCIAL STATEMENTS	REVISION OF PRIOR PERIOD FINANCIAL STATEMENTS The Company identified certain errors primarily related to the calculation of actuarially determined insurance contract assets and liabilities that impacted previously issued consolidated financial statements. Management evaluated these adjustments and concluded they were not material to any previously reported quarterly or annual financial statements. In order to improve the consistency and comparability of the financial statements, management revised the financial statements and related disclosures to correct these errors as shown below. Management assessed the materiality of this change within prior period financial statements based upon SEC Staff Accounting Bulletin Number 99, Materiality, which is since codified in Accounting Standards Codification ("ASC") 250, Accounting Changes and Error Corrections. The prior period comparative financial statements that are presented herein have been revised. The following tables present line items for prior period financial statements that have been affected by the revision. For these line items, the tables detail the amounts as previously reported, the impact upon those line items due to the revision, and the amounts as currently revised within the financial statements. June 30, 2020 March 31, 2020 As Previously Impact of Revisions As Revised As Previously Impact of Revisions As Revised (in millions) Consolidated Balance Sheet: ASSETS Other invested assets 2,280 — 2,280 2,112 12 2,124 Deferred policy acquisition costs 4,182 (92) 4,090 4,809 (112) 4,697 Total Assets $ 254,110 $ (92) $ 254,018 $ 240,781 $ (100) $ 240,681 LIABILITIES Future policy benefits and other policyholders’ liabilities 41,476 30 41,506 37,968 33 38,001 Current and deferred income taxes 1,848 (26) 1,822 2,355 (28) 2,327 Total Liabilities $ 234,889 $ 4 $ 234,893 $ 218,884 $ 5 $ 218,889 EQUITY Retained earnings 12,995 (96) 12,899 17,112 (105) 17,007 Total equity attributable to Holdings 17,594 (96) 17,498 20,086 (105) 19,981 Total Equity 19,134 (96) 19,038 21,640 (105) 21,535 Total Liabilities, Redeemable Noncontrolling Interest and Equity $ 254,110 $ (92) $ 254,018 $ 240,781 $ (100) $ 240,681 December 31, 2019 December 31, 2018 As Previously Impact of Revisions As Revised As Previously Impact of Revisions As Revised (in millions) Consolidated Balance Sheet: ASSETS Deferred policy acquisition costs 5,890 (53) 5,837 6,745 (40) 6,705 GMIB reinsurance contract asset, at fair value 2,139 — 2,139 1,732 2 1,734 Other assets 3,799 1 3,800 3,127 20 3,147 Total Assets $ 249,870 $ (52) $ 249,818 $ 220,797 $ (18) $ 220,779 LIABILITIES Future policy benefits and other policyholders’ liabilities 34,587 48 34,635 30,998 79 31,077 Current and deferred income taxes 549 (21) 528 68 (33) 35 Total Liabilities $ 234,379 $ 27 $ 234,406 $ 205,178 $ 46 $ 205,224 EQUITY Retained earnings 11,827 (83) 11,744 13,989 (52) 13,937 Accumulated other comprehensive income (loss) 840 4 844 (1,396) (12) (1,408) Total equity attributable to Holdings 13,535 (79) 13,456 13,866 (64) 13,802 Total Equity 15,126 (79) 15,047 15,432 (64) 15,368 Total Liabilities, Redeemable Noncontrolling Interest and Equity $ 249,870 $ (52) $ 249,818 $ 220,797 $ (18) $ 220,779 Three Months Ended June 30, 2020 Six Months Ended June 30, 2020 As Previously Impact of Revisions As Revised As Previously Impact of Revisions As Revised (in millions) Consolidated Statements of Income (Loss) REVENUES Policy charges and fee income $ 879 $ (2) $ 877 $ 1,870 $ 3 $ 1,873 Net derivative gains (losses) (6,033) (5) (6,038) 3,368 (6) 3,362 Net investment income (loss) 1,035 (13) 1,022 1,651 — 1,651 Other Income 124 — 124 280 (1) 279 Total revenues (2,530) (20) (2,550) 10,063 (4) 10,059 BENEFITS AND OTHER DEDUCTIONS Policyholders' benefits 746 (10) 736 3,534 (22) 3,512 Amortization of deferred policy acquisition costs 183 (21) 162 1,431 34 1,465 Other operating costs and expenses 434 — 434 871 1 872 Total benefits and other deductions 2,489 (31) 2,458 8,195 13 8,208 Income (loss) from continuing operations, before income taxes (5,019) 11 (5,008) 1,868 (17) 1,851 Income tax (expense) benefit 1,077 (2) 1,075 (363) 4 (359) Net income (loss) (3,942) 9 (3,933) 1,505 (13) 1,492 Net income (loss) attributable to Holdings $ (4,028) $ 9 $ (4,019) $ 1,382 $ (13) $ 1,369 EARNINGS PER COMMON SHARE Basic $ (8.96) $ 0.02 $ (8.94) $ 2.98 $ (0.03) $ 2.95 Diluted $ (8.96) $ 0.02 $ (8.94) $ 2.97 $ (0.03) $ 2.94 Three Months Ended March 31, 2020 As Previously Impact of Revisions As Revised (in millions) Consolidated Statements of Income (Loss) REVENUES Policy charges and fee income $ 991 $ 5 $ 996 Net derivative gains (losses) 9,401 (1) 9,400 Net investment income (loss) 616 13 629 Other Income 156 (1) 155 Total revenues 12,593 16 12,609 BENEFITS AND OTHER DEDUCTIONS Policyholders' benefits 2,788 (12) 2,776 Amortization of deferred policy acquisition costs 1,248 55 1,303 Other operating costs and expenses 437 1 438 Total benefits and other deductions 5,706 44 5,750 Income (loss) from continuing operations, before income taxes 6,887 (28) 6,859 Income tax (expense) benefit (1,440) 6 (1,434) Net income (loss) 5,447 (22) 5,425 Net income (loss) attributable to Holdings $ 5,410 $ (22) $ 5,388 EARNINGS PER COMMON SHARE Basic $ 11.71 $ (0.05) $ 11.66 Diluted $ 11.65 $ (0.05) $ 11.60 Year Ended December 31, 2019 Year Ended December 31, 2018 As Previously Impact of Revisions As Revised As Previously Impact of Revisions As Revised (in millions) Consolidated Statements of Income (Loss) REVENUES Policy charges and fee income $ 3,738 $ 40 $ 3,778 $ 3,824 $ 10 $ 3,834 Net derivative gains (losses) (4,000) (12) (4,012) (231) (19) (250) Total revenues 9,591 28 9,619 12,078 (9) 12,069 BENEFITS AND OTHER DEDUCTIONS Policyholders' benefits 4,370 15 4,385 2,915 (59) 2,856 Interest credited to policyholders' account balances 1,241 22 1,263 1,090 (23) 1,067 Commissions and distribution related payments 1,242 — 1,242 1,160 5 1,165 Amortization of deferred policy acquisition costs 579 18 597 333 38 371 Other operating costs and expenses 1,892 (2) 1,890 1,809 1 1,810 Total benefits and other deductions 11,626 53 11,679 9,617 (38) 9,579 Income (loss) from continuing operations, before income taxes (2,035) (25) (2,060) 2,461 29 2,490 Income tax (expense) benefit 599 (6) 593 (307) 6 (301) Net income (loss) (1,436) (31) (1,467) 2,154 35 2,189 Net income (loss) attributable to Holdings $ (1,733) $ (31) $ (1,764) $ 1,820 $ 35 $ 1,855 EARNINGS PER COMMON SHARE Basic $ (3.51) $ (0.06) $ (3.57) $ 3.27 $ 0.06 $ 3.33 Diluted $ (3.51) $ (0.06) $ (3.57) $ 3.27 $ 0.06 $ 3.33 Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 As Previously Impact of Revisions As Revised As Previously Impact of Revisions As Revised (in millions) Consolidated Statements of Income (Loss) REVENUES Policy charges and fee income $ 929 $ 51 $ 980 $ 2,801 $ 46 $ 2,847 Net derivative gains (losses) (451) (2) (453) (2,317) (6) (2,323) Other Income 142 1 143 408 1 409 Total revenues 3,028 50 3,078 7,902 41 7,943 BENEFITS AND OTHER DEDUCTIONS Policyholders' benefits 1,757 (22) 1,735 3,533 18 3,551 Interest credited to policyholders' account balances 304 16 320 922 22 944 Amortization of deferred policy acquisition costs 85 43 128 460 29 489 Total benefits and other deductions 3,468 37 3,505 8,825 69 8,894 Income (loss) from continuing operations, before income taxes (440) 13 (427) (923) (28) (951) Income tax (expense) benefit 124 (3) 121 328 6 334 Net income (loss) (316) 10 (306) (595) (22) (617) Net income (loss) attributable to Holdings $ (384) $ 10 $ (374) $ (796) $ (22) $ (818) EARNINGS PER COMMON SHARE Basic $ (0.78) $ 0.02 $ (0.76) $ (1.59) $ (0.05) $ (1.64) Diluted $ (0.78) $ 0.02 $ (0.76) $ (1.59) $ (0.05) $ (1.64) Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 As Previously Impact of Revisions As Revised As Previously Impact of Revisions As Revised (in millions) Consolidated Statements of Income (Loss) REVENUES Policy charges and fee income $ 941 $ (3) $ 938 $ 1,872 $ (5) $ 1,867 Net derivative gains (losses) (236) (1) (237) (1,866) (4) (1,870) Total revenues 3,160 (4) 3,156 4,874 (9) 4,865 BENEFITS AND OTHER DEDUCTIONS Policyholders' benefits 896 (1) 895 1,776 40 1,816 Interest credited to policyholders' account balances 314 3 317 618 6 624 Amortization of deferred policy acquisition costs 177 (2) 175 375 (14) 361 Other operating costs and expenses 456 (1) 455 866 — 866 Total benefits and other deductions 2,719 (1) 2,718 5,357 32 5,389 Income (loss) from continuing operations, before income taxes 441 (3) 438 (483) (41) (524) Income tax (expense) benefit (11) 1 (10) 204 9 213 Net income (loss) 430 (2) 428 (279) (32) (311) Net income (loss) attributable to Holdings $ 363 $ (2) $ 361 $ (412) $ (32) $ (444) EARNINGS PER COMMON SHARE Basic $ 0.74 $ — $ 0.74 $ (0.82) $ (0.06) $ (0.88) Diluted $ 0.74 $ (0.01) $ 0.73 $ (0.82) $ (0.06) $ (0.88) Three Months Ended March 31, 2019 As Previously Impact of Revisions As Revised (in millions) Consolidated Statements of Income (Loss) REVENUES Policy charges and fee income $ 931 $ (2) $ 929 Net derivative gains (losses) (1,630) (3) (1,633) Total revenues 1,714 (5) 1,709 BENEFITS AND OTHER DEDUCTIONS Policyholders' benefits 880 41 921 Interest credited to policyholders' account balances 304 3 307 Amortization of deferred policy acquisition costs 198 (12) 186 Other operating costs and expenses 410 1 411 Total benefits and other deductions 2,638 33 2,671 Income (loss) from continuing operations, before income taxes (924) (38) (962) Income tax (expense) benefit 215 8 223 Net income (loss) (709) (30) (739) Net income (loss) attributable to Holdings $ (775) $ (30) $ (805) EARNINGS PER COMMON SHARE Basic $ (1.50) $ (0.05) $ (1.55) Diluted $ (1.50) $ (0.05) $ (1.55) Year Ended December 31, 2017 As Previously Impact of Revisions As Revised (in millions) Consolidated Statement of Income (Loss): REVENUES Policy charges and fee income $ 3,693 $ (7) $ 3,686 Net derivative gains (losses) 214 (23) 191 Total revenues $ 12,460 $ (30) $ 12,430 BENEFITS AND OTHER DEDUCTIONS Policyholders' benefits 4,366 14 4,380 Commissions and distribution related payments 1,081 7 1,088 Amortization of deferred policy acquisition costs 503 12 515 Total benefits and other deductions 11,154 33 11,187 Income (loss) from continuing operations, before income taxes 1,306 (63) 1,243 Income tax (expense) benefit (49) 7 (42) Net income (loss) 1,257 (56) 1,201 Net income (loss) attributable to Holdings 834 (56) 778 Net income (loss) available to Holdings’ common shareholders $ 834 $ (56) $ 778 EARNINGS PER COMMON SHARE Basic $ 1.49 $ (0.10) $ 1.39 Diluted $ 1.48 $ (0.09) $ 1.39 Three Months Ended June 30, 2020 Six Months Ended June 30, 2020 As Previously Impact of Revisions As Revised As Previously Impact of Revisions As Revised (in millions) Consolidated Statements of Comprehensive Income (Loss) Net income (loss) $ (3,942) $ 9 $ (3,933) $ 1,505 $ (13) $ 1,492 Other comprehensive income 1,642 — 1,642 3,083 (4) 3,079 Comprehensive income (loss) (2,300) 9 (2,291) 4,588 (17) 4,571 Comprehensive income (loss) attributable to Holdings $ (2,389) $ 9 $ (2,380) $ 4,470 $ (17) $ 4,453 Three Months Ended March 31, 2020 As Previously Impact of Revisions As Revised (in millions) Consolidated Statements of Comprehensive Income (Loss) Net income (loss) $ 5,447 $ (22) $ 5,425 Change in unrealized gains (losses), net of reclassification adjustment 1,434 (4) 1,430 Other comprehensive income 1,441 (4) 1,437 Comprehensive income (loss) 6,888 (26) 6,862 Comprehensive income (loss) attributable to Holdings $ 6,859 $ (26) $ 6,833 Year Ended December 31, 2019 Year Ended December 31, 2018 As Previously Impact of Revisions As Revised As Previously Impact of Revisions As Revised (in millions) Consolidated Statements of Comprehensive Income (Loss) Net income (loss) $ (1,436) $ (31) $ (1,467) $ 2,154 $ 35 $ 2,189 Foreign currency translation adjustment 5 — 5 (37) 5 (32) Change in unrealized gains (losses), net of reclassification adjustment 2,242 16 2,258 (1,329) 3 (1,326) Other comprehensive income 2,232 16 2,248 (1,177) 8 (1,169) Comprehensive income (loss) 796 (15) 781 977 43 1,020 Comprehensive income (loss) attributable to Holdings $ 503 $ (15) $ 488 $ 628 $ 43 $ 671 Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 As Previously Impact of Revisions As Revised As Previously Impact of Revisions As Revised (in millions) Consolidated Statements of Comprehensive Income (Loss) Net income (loss) $ (316) $ 10 $ (306) $ (595) $ (22) $ (617) Change in unrealized gains (losses), net of reclassification adjustment 581 165 746 2,784 90 2,874 Other comprehensive income 587 165 752 2,857 90 2,947 Comprehensive income (loss) 271 175 446 2,262 68 2,330 Comprehensive income (loss) attributable to Holdings $ 208 $ 175 $ 383 $ 2,068 $ 68 $ 2,136 Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 As Previously Impact of Revisions As Revised As Previously Impact of Revisions As Revised (in millions) Consolidated Statements of Comprehensive Income (Loss) Net income (loss) $ 430 $ (2) $ 428 $ (279) $ (32) $ (311) Change in unrealized gains (losses), net of reclassification adjustment 1,369 (77) 1,292 2,203 (75) 2,128 Other comprehensive income 1,388 (77) 1,311 2,270 (75) 2,195 Comprehensive income (loss) 1,818 (79) 1,739 1,991 (107) 1,884 Comprehensive income (loss) attributable to Holdings $ 1,752 $ (79) $ 1,673 $ 1,860 $ (107) $ 1,753 Three Months Ended March 31, 2019 As Previously Impact of Revisions As Revised (in millions) Consolidated Statements of Comprehensive Income (Loss) Net income (loss) $ (709) $ (30) $ (739) Change in unrealized gains (losses), net of reclassification adjustment 834 2 836 Other comprehensive income 882 2 884 Comprehensive income (loss) 173 (28) 145 Comprehensive income (loss) attributable to Holdings $ 108 $ (28) $ 80 Year Ended December 31, 2017 As Previously Impact of Revisions As Revised (in millions) Consolidated Statements of Comprehensive Income: Net income (loss) $ 1,257 $ (56) $ 1,201 Foreign currency translation adjustment $ 42 $ (3) $ 39 Change in unrealized gains (losses), net of reclassification adjustment 690 (18) 672 Other comprehensive income 832 (21) 811 Comprehensive income (loss) 2,089 (77) 2,012 Comprehensive income (loss) attributable to Holdings 1,647 (77) 1,570 Three Months Ended June 30, 2020 Six Months Ended June 30, 2020 As Previously Impact of Revisions As Revised As Previously Impact of Revisions As Revised (in millions) Consolidated Statement of Equity: Retained earnings, beginning of year $ 17,112 $ (105) $ 17,007 $ 11,827 $ (83) $ 11,744 Net income (loss) attributable to Holdings (4,028) 9 (4,019) 1,382 (13) 1,369 Retained earnings, end of period $ 12,995 $ (96) $ 12,899 $ 12,995 $ (96) $ 12,899 Total Holdings’ equity, end of period $ 17,594 $ (96) $ 17,498 $ 17,594 $ (96) $ 17,498 Total equity, end of period $ 19,134 $ (96) $ 19,038 $ 19,134 $ (96) $ 19,038 Three Months Ended March 31, 2020 As Previously Impact of Revisions As Revised (in millions) Consolidated Statement of Equity: Retained earnings, beginning of year $ 11,827 $ (83) $ 11,744 Net income (loss) attributable to Holdings 5,410 (22) 5,388 Retained earnings, end of period $ 17,112 $ (105) $ 17,007 Total Holdings’ equity, end of period $ 20,086 $ (105) $ 19,981 Total equity, end of period $ 21,640 $ (105) $ 21,535 Year Ended December 31, 2019 Year Ended December 31, 2018 As Previously Impact of Revisions As Revised As Previously Impact of Revisions As Revised (in millions) Consolidated Statement of Equity: Retained earnings, beginning of year $ 13,989 $ (52) $ 13,937 $ 12,225 $ (87) $ 12,138 Net income (loss) attributable to Holdings (1,733) (31) (1,764) 1,820 35 1,855 Retained earnings, end of year $ 11,827 $ (83) $ 11,744 $ 13,989 $ (52) $ 13,937 Accumulated other comprehensive income (loss), beginning of year $ (1,396) $ (12) $ (1,408) $ (108) $ (20) $ (128) Other comprehensive income (loss) 2,236 16 2,252 (1,192) 8 (1,184) Accumulated other comprehensive income (loss), end of year $ 840 $ 4 $ 844 $ (1,396) $ (12) $ (1,408) Total Holdings’ equity, end of year $ 13,535 $ (79) $ 13,456 $ 13,866 $ (64) $ 13,802 Total equity, end of year $ 15,126 $ (79) $ 15,047 $ 15,432 $ (64) $ 15,368 Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 As Previously Impact of Revisions As Revised As Previously Impact of Revisions As Revised (in millions) Consolidated Statement of Equity: Retained earnings, beginning of year $ 13,293 $ (84) $ 13,209 $ 13,989 $ (52) $ 13,937 Net income (loss) attributable to Holdings (384) 10 (374) (796) (22) (818) Retained earnings, end of period $ 12,835 $ (74) $ 12,761 $ 12,835 $ (74) $ 12,761 Accumulated other comprehensive income (loss), beginning of year $ 876 $ (87) $ 789 $ (1,396) $ (12) $ (1,408) Other comprehensive income (loss) 592 165 757 2,864 90 2,954 Accumulated other comprehensive income (loss), end of period $ 1,468 $ 78 $ 1,546 $ 1,468 $ 78 $ 1,546 Total Holdings’ equity, end of period $ 14,936 $ 4 $ 14,940 $ 14,936 $ 4 $ 14,940 Total equity, end of period $ 16,478 $ 4 $ 16,482 $ 16,478 $ 4 $ 16,482 Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 As Previously Impact of Revisions As Revised As Previously Impact of Revisions As Revised (in millions) Consolidated Statement of Equity: Additional paid-in capital, beginning of year 1,881 1 1,882 1,908 — 1,908 Other (8) (1) (9) (16) — (16) Additional paid-in capital, end of period $ 1,901 $ — $ 1,901 $ 1,901 $ — $ 1,901 Retained earnings, beginning of year $ 13,004 $ (82) $ 12,922 $ 13,989 $ (52) $ 13,937 Net income (loss) attributable to Holdings 363 (2) 361 (412) (32) (444) Retained earnings, end of period $ 13,293 $ (84) $ 13,209 $ 13,293 $ (84) $ 13,209 Accumulated other comprehensive income (loss), beginning of year $ (513) $ (10) $ (523) $ (1,396) $ (12) $ (1,408) Other comprehensive income (loss) 1,389 (77) 1,312 2,272 (75) 2,197 Accumulated other comprehensive income (loss), end of period $ 876 $ (87) $ 789 $ 876 $ (87) $ 789 Total Holdings’ equity, end of period $ 14,843 $ (171) $ 14,672 $ 14,843 $ (171) $ 14,672 Total equity, end of period $ 16,388 $ (171) $ 16,217 $ 16,388 $ (171) $ 16,217 Three Months Ended March 31, 2019 As Previously Impact of Revisions As Revised (in millions) Consolidated Statement of Equity: Other (8) 1 (7) Additional paid-in capital, end of period $ 1,881 $ 1 $ 1,882 Retained earnings, beginning of year $ 13,989 $ (52) $ 13,937 Net income (loss) attributable to Holdings (775) (30) (805) Retained earnings, end of period $ 13,004 $ (82) $ 12,922 Accumulated other comprehensive income (loss), beginning of year $ (1,396) $ (12) $ (1,408) Other comprehensive income (loss) 883 2 885 Accumulated other comprehensive income (loss), end of period $ (513) $ (10) $ (523) Total Holdings’ equity, end of period $ 13,143 $ (91) $ 13,052 Total equity, end of period $ 14,682 $ (91) $ 14,591 Year Ended December 31, 2017 As Previously Reported Impact of Revisions As Revised (in millions) Consolidated Statements of Equity: Retained earnings, beginning of year $ 11,391 $ (31) $ 11,360 Net income (loss) attributable to Holdings 834 (56) 778 Retained earnings, end of period $ 12,225 $ (87) $ 12,138 Accumulated other comprehensive income (loss), beginning of year $ (921) $ 1 $ (920) Other comprehensive income (loss) 813 (21) 792 Accumulated other comprehensive income (loss), end of period $ (108) $ (20) $ (128) Total Holdings’ equity, end of period $ 13,421 $ (107) $ 13,314 Total equity, end of period $ 16,518 $ (107) $ 16,411 Six Months Ended June 30, 2020 Three Months Ended March 31, 2020 As Previously Impact of Revisions As Revised As Previously Impact of Revisions As Revised (in millions) Consolidated Statement of Cash Flows: Cash flows from operating activities: Net income (loss) $ 1,505 $ (13) $ 1,492 $ 5,447 $ (22) $ 5,425 Adjustments to reconcile Net income (loss) to Net cash provided by (used in) operating activities: Policy charges and fee income (1,870) (3) (1,873) (991) (5) (996) Net derivative (gains) losses (3,368) 6 (3,362) (9,401) 1 (9,400) Amortization and depreciation 1,506 34 1,540 1,275 55 1,330 Future policy benefits 1,828 (21) 1,807 1,936 (11) 1,925 Current and deferred income taxes 482 (4) 478 1,425 (5) 1,420 Other, net (329) 1 (328) (448) (1) (449) Net cash provided by (used in) operating activities $ (548) $ — $ (548) $ (582) $ 12 $ (570) Cash flows from financing activities: Policyholders’ account balances: Change in collateralized pledged assets 60 — 60 44 (1) 43 Change in collateralized pledged liabilities 239 — 239 657 (11) 646 Net cash provided by (used in) financing activities $ 2,891 $ — $ 2,891 $ (13) $ (12) $ (13) Cash and cash equivalents, end of period $ 8,364 $ — $ 8,364 $ 10,315 $ — $ 10,315 Year Ended December 31, 2019 Year Ended December 31, 2018 As Previously Impact of Revisions As Revised As Previously Impact of Revisions As Revised (in millions) Consolidated Statement of Cash Flows: Cash flows from operating activities: Net income (loss) $ (1,436) $ (31) $ (1,467) $ 2,154 $ 35 $ 2,189 Adjustments to reconcile Net income (loss) to Net cash provided by (used in) operating activities: Policy charges and fee income (3,738) (40) (3,778) (3,824) (10) (3,834) Interest credited to policyholders' account balances 1,241 22 1,263 1,090 (23) 1,067 Net derivative (gains) losses 4,000 12 4,012 231 19 250 Amortization and depreciation 657 18 675 257 39 296 Capitalization of DAC (754) — (754) (702) 5 (697) Future policy benefits 947 15 962 (399) (59) (458) Current and deferred income taxes (108) 6 (102) 633 (6) 627 Other, net (162) (2) (164) (222) — (222) Net cash provided by (used in) operating activities $ (216) $ — $ (216) $ 61 $ — $ 61 Cash and cash equivalents, end of year $ 4,405 $ — $ 4,405 $ 4,469 $ — $ 4,469 Nine Months Ended September 30, 2019 Six Months Ended June 30, 2019 As Previously Impact of Revisions As Revised As Previously Impact of Revisions As Revised (in millions) Consolidated Statement of Cash Flows: Cash flows from operating activities: Net income (loss) $ (595) $ (22) $ (617) $ (279) $ (32) $ (311) Adjustments to reconcile Net income (loss) to Net cash provided by (used in) operating activities: Policy charges and fee income (2,801) (46) (2,847) (1,872) 5 (1,867) Interest credited to policyholders' account balances 922 22 944 618 6 624 Net derivative (gains) losses 2,317 6 2,323 1,866 4 1,870 Amortization and depreciation 535 29 564 433 (13) 420 Changes in: Future policy benefits 925 18 943 1 40 41 Current and deferred income taxes 36 (6) 30 23 (9) 14 Other, net (86) (1) (87) (58) (1) (59) Net cash provided by (used in) operating activities $ (292) $ — $ (292) $ (425) $ — $ (425) Cash and cash equivalents, end of period $ 4,471 $ — $ 4,471 $ 4,734 $ — $ 4,734 Three Months Ended March 31, 2019 As Previously Impact of Revisions As Revised (in millions) Consolidated Statement of Cash Flows: Cash flows from operating activities: Net income (loss) $ (709) $ (30) $ (739) Adjustments to reconcile Net income (loss) to Net cash provided by (used in) operating activities: Policy charges and fee income (931) 2 (929) Interest credited to policyholders' account balances 304 3 307 Net derivative (gains) losses 1,630 3 1,633 Amortization and depreciation 239 (12) 227 Future policy benefits 22 42 64 Current and deferred income taxes 183 (8) 175 Net cash provided by (used in) operating activities $ (109) $ — $ (109) Cash and cash equivalents, end of period $ 5,129 $ — $ 5,129 Year Ended December 31, 2017 As Previously Reported Impact of Revisions As Revised (in millions) Consolidated Statement of Cash Flows: Cash flows from operating activities: Net income (loss) $ 1,257 $ (56) $ 1,201 Adjustments to reconcile Net income (loss) to Net cash provided by (used in) operating activities: Policy charges and fee income (3,693) 7 (3,686) Net derivative (gains) losses (214) 23 (191) Amortization and depreciation 399 (13) 386 Capitalization of DAC (687) 24 (663) Future policy benefits 1,097 14 1,111 Current and deferred income taxes (10) 1 (9) Net cash provided by (used in) operating activities $ (243) $ — $ (243) Cash and cash equivalents, end of year $ 4,814 $ — $ 4,814

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2020
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTSOn October 27, 2020, Holdings entered into a Master Transaction Agreement with Venerable Insurance and Annuity Company (“VIAC”), and Venerable Holdings, Inc., a Delaware corporation. VIAC will acquire all of the shares of the capital stock of Corporate Solutions Life Reinsurance Company (“CSLRC”), and, immediately following such sale, Equitable Financial will enter into a coinsurance and modified coinsurance agreement, pursuant to which Equitable Financial will cede to CSLRC, on a combined coinsurance and modified coinsurance basis, legacy variable annuity policies sold by Equitable Financial between 2006-2008 supported by general account assets of approximately $12 billion (the “Block”), comprised of non-New York “Accumulator” policies containing fixed rate Guaranteed Minimum Income Benefit and/or Guaranteed Minimum Death Benefit guarantees. Equitable Financial will reinsure the separate accounts relating to the Block on a modified coinsurance basis. Equitable Financial will also acquire a surplus note in aggregate principal amount of $50 million issued by VIAC in the transaction.

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation The unaudited interim consolidated financial statements (the “consolidated financial statements”) have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP” or “GAAP”) on a basis consistent with reporting interim financial information in accordance with instructions to the Form 10-Q and Article 10 of Regulation S-X of the Securities and Exchange Commission (“SEC”). In the opinion of management, all adjustments necessary for a fair statement of the financial position and results of operations have been made. All such adjustments are of a normal, recurring nature, with the exception of the Company’s update of its interest rate assumption and adoption of new economic scenario generator as further described below in Assumption Updates and Model Changes. Interim results are not necessarily indicative of the results that may be expected for the full year. These financial statements should be read in conjunction with the Company’s consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019. The accompanying unaudited consolidated financial statements present the consolidated results of operations, financial condition, and cash flows of the Company and its subsidiaries and those investment companies, partnerships and joint ventures in which the Company has control and a majority economic interest as well as those variable interest entities (“VIEs”) that meet the requirements for consolidation. All significant intercompany transactions and balances have been eliminated in consolidation. The terms “third quarter 2020” and “third quarter 2019” refer to the three months ended September 30, 2020 and 2019, respectively. The terms “first nine months of 2020” and “first nine months of 2019” refer to the nine months ended September 30, 2020 and 2019, respectively.
Adoption of New Accounting Pronouncements and Future Adoption of New Accounting Pronouncements	Adoption of New Accounting Pronouncements Description Effect on the Financial Statement or Other Significant Matters ASU 2016-13 : Financial Instruments—Credit Losses (Topic 326), as clarified and amended by ASU 2018-19: Codification Improvements to Topic 326, Financial Instruments—Credit Losses, ASU 2019-04: Codification Improvements to Topic 326, Financial Instruments—Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments and ASU 2019-05: Financial Instruments—Credit Losses (Topic 326) Targeted Transition Relief, ASU 2019-11: Codification Improvements to Topic 326, Financial Instruments—Credit Losses ASU 2016-13 contains new guidance which introduces an approach based on expected losses to estimate credit losses on certain types of financial instruments. It also modifies the impairment model for available-for-sale debt securities and provides for a simplified accounting model for purchased financial assets with credit deterioration since their origination. ASU 2019-05 provides entities that have instruments within the scope of Subtopic 326-20 an option to irrevocably elect the fair value option on an instrument-by-instrument basis upon adoption of Topic 326. ASU 2018-19, ASU 2019-04 and ASU 2019-11 clarified the codification guidance and did not materially change the standard. On January 1, 2020, the Company adopted the new standard and completed implementation of its updated current expected credit losses (“CECL”) models, processes and controls related to the identified financial assets that fall within the scope of the new standard. Upon adoption, the Company recorded a cumulative effect adjustment to reduce the opening retained earnings balance by approximately $40 million, on a pre-tax and pre-DAC basis. The adjustment is primarily attributable to an increase in the allowance for credit losses associated with the Company’s commercial and agricultural mortgage loan portfolios and reinsurance. ASU 2018-13: Fair Value Measurement (Topic 820) This ASU improves the effectiveness of fair value disclosures in the notes to financial statements. Amendments in this ASU impact the disclosure requirements in Topic 820, including the removal, modification and addition to existing disclosure requirements. The Company elected to early adopt during 2019 the removal of disclosures relating to transfers between Level 1 and Level 2 of the fair value hierarchy, the policy for timing of transfers between levels and valuation processes for Level 3 fair value measurements. The Company adopted the additional disclosures related to Level 3 fair value information on January 1, 2020. ASU 2018-17 : Consolidation (Topic 810): Targeted Improvements to Related Party Guidance for Variable Interest Entities This ASU provides guidance requiring that indirect interests held through related parties in common control arrangements be considered on a proportional basis for determining whether fees paid to decision makers and service providers are variable interests. The Company adopted this new standard effective for January 1, 2020. Adoption of this standard did not materially impact the Company’s financial position or results of operations. Description Effective Date and Method of Adoption Effect on the Financial Statement or Other Significant Matters ASU 2018-12: Financial Services - Insurance (Topic 944); ASU 2019-09: Financial Services - Insurance (Topic 944): Effective Date This ASU provides targeted improvements to existing recognition, measurement, presentation, and disclosure requirements for long-duration contracts issued by an insurance entity. The ASU primarily impacts four key areas, including: In November 2019, ASU 2019-09 was issued which modified ASU 2018-12 to be effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2021. Early adoption is permitted. On September 30, 2020, the FASB tentatively affirmed its decision to defer the effective date of the amendments in ASU 2018-12, for all insurance entities by one year. Early adoption would still be allowed. The Company is currently evaluating the impact that adoption of this guidance will have on the Company’s consolidated financial statements, however the adoption of the ASU is expected to have a significant impact on the Company’s consolidated financial condition, results of operations, cash flows and required disclosures, as well as processes and controls. 1. Measurement of the liability for future policy benefits for traditional and limited payment contracts. The ASU requires companies to review, and if necessary, update cash flow assumptions at least annually for non-participating traditional and limited-payment insurance contracts. Interest rates used to discount the liability will need to be updated quarterly using an upper medium grade (low credit risk) fixed-income instrument yield. 2. Measurement of market risk benefits (“MRBs”). MRBs, as defined under the ASU, will encompass certain GMxB features associated with variable annuity products and other general account annuities with other than nominal market risk. The ASU requires MRBs to be measured at fair value with changes in value attributable to changes in instrument-specific credit risk recognized in OCI. 3. Amortization of deferred acquisition costs. The ASU simplifies the amortization of deferred acquisition costs and other balances amortized in proportion to premiums, gross profits, or gross margins, requiring such balances to be amortized on a constant level basis over the expected term of the contracts. Deferred costs will be required to be written off for unexpected contract terminations but will not be subject to impairment testing. 4. Expanded footnote disclosures. The ASU requires additional disclosures including disaggregated roll-forwards of beginning to ending balances of the liability for future policy benefits, policyholder account balances, MRBs, separate account liabilities and deferred acquisition costs. Companies will also be required to disclose information about significant inputs, judgements, assumptions and methods used in measurement. For the liability for future policyholder benefits for traditional and limited payment contracts, companies can elect one of two adoption methods. Companies can either elect a modified retrospective transition method applied to contracts in force 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 (“AOCI”) or a full retrospective transition method using actual historical experience information as of contract inception. The same adoption method must be used for deferred policy acquisition costs. Description Effective Date and Method of Adoption Effect on the Financial Statement or Other Significant Matters ASU 2019-12: Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes This ASU simplifies the accounting for income taxes by removing certain exceptions to the general principles in Topic 740, as well as clarifying and amending existing guidance. Effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. Early adoption is permitted. The Company is currently evaluating the impact adopting the guidance will have on the Company’s consolidated financial statements, however the adoption is not expected to materially impact the Company’s financial position, results of operation, or cash flows. ASU2020-04 : Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting The amendments in this ASU provide optional expedients and exceptions to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments in this ASU apply only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. This ASU is effective as of March 12, 2020 through December 31, 2022. The Company will determine the applicability of the optional expedients and exceptions provided under the ASU as reference rate reform continues to develop.
Goodwill	Goodwill Starting as of June 30, 2020, the Company changed its measurement of the fair value of the Company’s Investment Management and Research reporting unit from a discounted cash flow valuation technique to a market valuation approach. Under the market valuation approach, the fair value of the reporting unit is based on its adjusted market valuation assuming a control premium. The Company has determined that this valuation technique provides a more exact determination of fair value for the reporting unit. This approach will be applied when the Company performs its annual testing for goodwill recoverability at December 31, 2020. The Company also determined that if the market valuation approach had been applied in the first quarter 2020, it would not have resulted in an impairment of the reporting unit.
Investments	Investments The carrying values of fixed maturities classified as available-for-sale (“AFS”) are reported at fair value. Changes in fair value are reported in OCI, net of allowance for credit losses, policy related amounts and deferred income taxes. With the adoption of the new Financial Instruments-Credit Losses standard, changes in credit losses are recognized in Investment gains (losses), net. The redeemable preferred stock investments that are reported in fixed maturities include real estate investment trusts (“REIT”), perpetual preferred stock and redeemable preferred stock. These securities may not have a stated maturity, may not be cumulative, and do not provide for mandatory redemption by the issuer. The Company determines the fair values of fixed maturities and equity securities based upon quoted prices in active markets, when available, or through the use of alternative approaches when market quotes are not readily accessible or available. These alternative approaches include matrix or model pricing and use of independent pricing services, each supported by reference to principal market trades or other observable market assumptions for similar securities. More specifically, the matrix pricing approach to fair value is a discounted cash flow methodology that incorporates market interest rates commensurate with the credit quality and duration of the investment. The Company’s management, with the assistance of its investment advisors, evaluates AFS debt securities that experienced a decline in fair value below amortized cost for credit losses which are evaluated in accordance with the new financial instruments credit losses guidance effective January 1, 2020. Integral to this review is an assessment made each quarter, on a security-by-security basis, by the Company’s Investments Under Surveillance (“IUS”) Committee, of various indicators of credit deterioration to determine whether the investment security has experienced a credit loss. This assessment includes, but is not limited to, consideration of the severity of the unrealized loss, failure, if any, of the issuer of the security to make scheduled payments, actions taken by rating agencies, adverse conditions specifically related to the security or sector, and the financial strength, liquidity and continued viability of the issuer. The Company recognizes an allowance for credit losses on AFS debt securities with a corresponding adjustment to earnings rather than a direct write down that reduces the cost basis of the investment, and credit losses are limited to the amount by which the security’s amortized cost basis exceeds its fair value. Any improvements in estimated credit losses on AFS debt securities are recognized immediately in earnings. Management does not use the length of time a security has been in an unrealized loss position as a factor, either by itself or in combination with other factors, to conclude that a credit loss does not exist, as they were permitted to do prior to January 1, 2020. When the Company determines that there is more than 50% likelihood that it is not going to recover the principal and interest cash flows related to an AFS debt security, the security is placed on nonaccrual status and the Company reverses accrued interest receivable against interest income. Since the nonaccrual policy results in a timely reversal of accrued interest receivable, the Company does not record an allowance for credit losses on accrued interest receivable. If there is no intent to sell or likely requirement to dispose of the fixed maturity security before its recovery, only the credit loss component of any resulting allowance is recognized in income (loss) and the remainder of the fair value loss is recognized in OCI. The amount of credit loss is the shortfall of the present value of the cash flows expected to be collected as compared to the amortized cost basis of the security. The present value is calculated by discounting management’s best estimate of projected future cash flows at the effective interest rate implicit in the debt security at the date of acquisition. Projections of future cash flows are based on assumptions regarding probability of default and estimates regarding the amount and timing of recoveries. These assumptions and estimates require use of management judgment and consider internal credit analyses as well as market observable data relevant to the collectability of the security. Write-offs of AFS debt securities are recorded when all or a portion of a financial asset is deemed uncollectible. Full or partial write-offs are recorded as reductions to the amortized cost basis of the AFS debt security and deducted from the allowance in the period in which the financial assets are deemed uncollectible. The Company elected to reverse accrued interest deemed uncollectible as a reversal of interest income. In instances where the Company collects cash that it has previously written off, the recovery will be recognized through earnings or as a reduction of the amortized cost basis for interest and principal, respectively. Real estate held for the production of income is stated at depreciated cost less allowance for credit losses. Depreciation of real estate held for production of income is computed using the straight-line method over the estimated useful lives of the properties, which generally range from 40 to 50 years. 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. Partnerships, investment companies, and joint venture interests that the Company has control of and has an economic interest in or those that meet the requirements for consolidation under accounting guidance for consolidation of VIEs are consolidated. Those that the Company does not have control of and does not have a majority economic interest in and those that do not meet the VIE requirements for consolidation are reported on the equity method of accounting and are reported in other equity investments. The Company records its interests in certain of these partnerships on a month or one quarter lag. Trading securities, which include equity securities and fixed maturities, are carried at fair value based on quoted market prices, with realized and unrealized gains (losses) reported in net investment income (loss) in the consolidated statements of income (loss). Corporate owned life insurance (“COLI”) has been purchased by the Company and certain subsidiaries on the lives of certain key employees and the Company and these subsidiaries are named as beneficiaries under these policies. COLI is carried at the cash surrender value of the policies. At September 30, 2020 and December 31, 2019, the carrying value of COLI was $958 million and $944 million, respectively, and is reported in Other invested assets in the consolidated balance sheets. Cash and cash equivalents includes cash on hand, demand deposits, money market accounts, overnight commercial paper and highly liquid debt instruments purchased with an original maturity of three months or less. Due to the short-term nature of these investments, the recorded value is deemed to approximate fair value. Cash and securities segregated primarily includes U.S. Treasury Bills segregated by AB in a special reserve bank custody account for the exclusive benefit of its brokerage customers under Rule 15c3-3 of the Exchange Act. All securities owned, including U.S. government and agency securities, mortgage-backed securities, futures and forwards transactions, are reported in the consolidated financial statements on a trade date basis. Mortgage Loans on Real Estate Mortgage loans are stated at unpaid principal balances, net of unamortized discounts and the allowance for credit losses. The Company calculates the allowance for credit losses in accordance with the CECL model in order to provide for the risk of credit losses in the lending process. Expected credit losses for loans with similar risk characteristics are estimated on a collective (i.e., pool) basis in order to meet CECL’s risk of loss concept which requires the Company to consider possibilities of loss, even if remote. For collectively evaluated mortgages, the Company estimates the allowance for credit losses based on the amortized cost basis of its mortgages over their expected life using a probability of default (“PD”) / loss given default (“LGD”) model. The PD/LGD model incorporates the Company’s reasonable and supportable forecast of macroeconomic information over a specified period. The length of the reasonable and supportable forecast period is reassessed on a quarterly basis and may be adjusted as appropriate over time to be consistent with macroeconomic conditions and the environment as of the reporting date. For periods beyond the reasonable and supportable forecast period, the model reverts to historical loss information. The PD and LGD are estimated at the loan-level based on loans’ current and forecasted risk characteristics as well as macroeconomic forecasts. The PD is estimated using both macroeconomic conditions as well as individual loan risk characteristics including LTV ratios, DSC ratios, seasoning, collateral type, geography, and underlying credit. The LGD is driven primarily by the type and value of collateral, and secondarily by expected liquidation costs and time to recovery. The CECL model is configured to the Company’s specifications and takes into consideration the detailed risk attributes of each discrete loan in the mortgage portfolio which include, but are not limited to the following: • Loan-to-value (“LTV”) ratio - Derived from current loan balance divided by the fair market value of the property. An LTV ratio in excess of 100% indicates an underwater mortgage. • Debt service coverage (“DSC”) ratio - Derived from actual operating earnings divided by annual debt service. If the ratio is below 1.0x, then the income from the property does not support the debt. • Occupancy - Criteria varies by property type but low or below market occupancy is an indicator of sub-par property performance. • Lease expirations - The percentage of leases expiring in the upcoming 12 to 36 months are monitored as a decline in rent and/or occupancy may negatively impact the debt service coverage ratio. In the case of single-tenant properties or properties with large tenant exposure, the lease expiration is a material risk factor. • Other - Any other factors such as maturity, borrower/tenant related issues, payment status, property condition, or current economic conditions may call into question the performance of the loan. Mortgage loans that do not share similar risk characteristics with other loans in the portfolio are individually evaluated quarterly by the Company’s IUS Committee. The allowance for credit losses on these individually evaluated mortgages is a loan-specific reserve as a result of the loan review process that is recorded based on the present value of expected future cash flows discounted at the loan’s effective interest rate or based on the fair value of the collateral. The individually assessed allowance for mortgage loans can increase or decrease from period to period based on such factors. Individually assessed loans may include, but are not limited to, mortgages that have deteriorated in credit quality such as troubled debt restructurings (“TDR”) and reasonably expected TDRs, mortgages for which foreclosure is probable, and mortgages which have been classified as “potential problem” or “problem” loans within the Company’s IUS Committee processes as described below. Within the IUS process, Commercial mortgages 60 days or more past due and agricultural mortgages 90 days or more past due, as well as all mortgages in the process of foreclosure, are identified as problem loans. Based on its monthly monitoring of mortgages, a class of potential problem loans are also identified, consisting of mortgage loans not currently classified as problem loans but for which management has doubts as to the ability of the borrower to comply with the present loan payment terms and which may result in the loan becoming a problem or being modified. The decision whether to classify a performing mortgage loan as a potential problem involves judgments by management as to likely future industry conditions and developments with respect to the borrower or the individual mortgaged property. Individually assessed mortgage loans without provision for losses are mortgage loans where the fair value of the collateral or the net present value of the expected future cash flows related to the loan equals or exceeds the recorded investment. Interest income earned on mortgage loans where the collateral value is used to measure impairment is recorded on a cash basis. Interest income on mortgage loans where the present value method is used to measure impairment is accrued on the net carrying value amount of the loan at the interest rate used to discount the cash flows. Mortgage loans are placed on nonaccrual status once management believes the collection of accrued interest is not probable. Once mortgage loans are classified as nonaccrual mortgage loans, interest income is recognized under the cash basis of accounting and the resumption of the interest accrual would commence only after all past due interest has been collected or the mortgage loan has been restructured to where the collection of interest is considered likely. The Company charges off loan balances and accrued interest that are deemed uncollectible. The components of amortized cost for mortgage loans on the consolidated balance sheets excludes accrued interest amounts because the Company presents accrued interest receivables within Other assets. Once mortgage loans are placed on nonaccrual status, the Company reverses accrued interest receivable against interest income. Since the nonaccrual policy results in the timely reversal of accrued interest receivable, the Company does not record an allowance for credit losses on accrued interest receivable. Troubled Debt Restructuring The Company invests in commercial and agricultural mortgage loans included in the balance sheet as Mortgage loans on real estate and privately negotiated fixed maturities included in the balance sheet as Fixed maturities AFS. Under certain circumstances, modifications are granted to these contracts. Each modification is evaluated as to whether a troubled debt restructuring has occurred. A modification is a troubled debt restructuring when the borrower is in financial difficulty and the creditor makes concessions. Generally, the types of concessions may include reducing the face amount or maturity amount of the debt as originally stated, reducing the contractual interest rate, extending the maturity date at an interest rate lower than current market interest rates and/or reducing accrued interest. The Company considers the amount, timing and extent of the concession granted in determining any impairment or changes in the specific credit allowance recorded in connection with the troubled debt restructuring. A credit allowance may have been recorded prior to the quarter when the loan is modified in a troubled debt restructuring. Accordingly, the carrying value (net of the allowance) before and after modification through a troubled debt restructuring may not change significantly, or may increase if the expected recovery is higher than the pre-modification recovery assessment. Net Investment Income (Loss), Investment Gains (Losses), Net, and Unrealized Investment Gains (Losses) Realized investment gains (losses) are determined by identification with the specific asset and are presented as a component of revenue. Changes in the allowance for credit losses are included in Investment gains (losses), net. Realized and unrealized holding gains (losses) on trading and equity securities are reflected in Net investment income (loss). Unrealized investment gains (losses) on fixed maturities designated as AFS held by the Company are accounted for as a separate component of AOCI, net of related deferred income taxes, as are amounts attributable to certain pension operations, Closed Block’s policyholders’ dividend obligation, insurance liability loss recognition, DAC related to UL policies, investment-type products and participating traditional life policies. Changes in unrealized gains (losses) reflect changes in fair value of only those fixed maturities classified as AFS and do not reflect any change in fair value of policyholders’ account balances and future policy benefits.
Accounting and Consolidation of VIEs	Accounting and Consolidation of VIEs For all new investment products and entities developed by the Company (other than Collateralized Debt Obligations (“CDOs”)), the Company first determines whether the entity is a VIE, which involves determining an entity’s variability and variable interests, identifying the holders of the equity investment at risk and assessing the five characteristics of a VIE. Once an entity has been determined to be a VIE, the Company then identifies the primary beneficiary of the VIE. If the Company is deemed to be the primary beneficiary of the VIE, then the Company consolidates the entity. Management of the Company reviews quarterly its investment management agreements and its investments in, and other financial arrangements with, certain entities that hold client assets under management (“AUM”) to determine the entities that the Company is required to consolidate under this guidance. These entities include certain mutual fund products, hedge funds, structured products, group trusts, collective investment trusts and limited partnerships. The analysis performed to identify variable interests held, determine whether entities are VIEs or voting interest entities (“VOEs”), and evaluate whether the Company has a controlling financial interest in such entities requires the exercise of judgment and is updated on a continuous basis as circumstances change or new entities are developed. The primary beneficiary evaluation generally is performed qualitatively based on all facts and circumstances, including consideration of economic interests in the VIE held directly and indirectly through related parties and entities under common control, as well as quantitatively, as appropriate. Consolidated VIEs At September 30, 2020 and December 31, 2019, the Company consolidated one real estate joint venture for which it was identified as the primary beneficiary under the VIE model. The consolidated entity is jointly owned by Equitable Financial Life Insurance Company (“Equitable Financial”) and AXA France and holds an investment in a real estate venture. Included in Other invested assets in the Company’s consolidated balance sheets at September 30, 2020 and December 31, 2019 are total assets of $31 million and $32 million, respectively, related to this VIE, primarily resulting from the consolidated presentation of this real estate joint venture as real estate held for sale. As of September 30, 2020, Equitable Financial holds $18 million of equity interests in a newly formed Special Purpose Entity, (“SPE”) established to purchase loans from the market in anticipation of a Collateralized Loan Obligation (“CLO”) transaction. The Company has determined it will consolidate the SPE as of September 30, 2020 as it is the primary beneficiary due to the combination of both its equity interest held by Equitable Financial and the majority ownership of AB, which functions as the SPE loan manager. Consolidated AB-Sponsored Investment Funds Included in the Company’s consolidated balance sheet at September 30, 2020 and December 31, 2019 are assets of $169 million and $424 million, liabilities of $7 million and $12 million, and redeemable noncontrolling interests of $39 million and $273 million, respectively, associated with the consolidation of AB-sponsored investment funds under the VIE model. Also included in the Company’s consolidated balance sheets at September 30, 2020 and December 31, 2019 are assets of $102 million and $188 million, liabilities of $23 million and $19 million, and redeemable noncontrolling interests of $18 million and $52 million, respectively, from consolidation of AB-sponsored investment funds under the VOE model. The assets of these consolidated funds are presented within Other invested assets and Cash and cash equivalents, and liabilities of these consolidated funds are presented with Other liabilities in the Company’s consolidated balance sheets; ownership interests not held by the Company relating to consolidated VIEs and VOEs are presented either as redeemable or non-redeemable noncontrolling interests, as appropriate. Redeemable noncontrolling interests are presented in mezzanine equity and non-redeemable noncontrolling interests are presented within permanent equity. The Company is not required to provide financial support to these Company-sponsored investment funds, and only the assets of such funds are available to settle each fund’s own liabilities. Non-Consolidated VIEs At September 30, 2020 and December 31, 2019, respectively, the Company held approximately $1.3 billion and $1.2 billion of investment assets in the form of equity interests issued by non-corporate legal entities determined under the guidance to be VIEs, such as limited partnerships and limited liability companies, including hedge funds, private equity funds and real estate-related funds. As an equity investor, the Company is considered to have a variable interest in each of these VIEs as a result of its participation in the risks and/or rewards these funds were designed to create by their defined portfolio objectives and strategies. Primarily through qualitative assessment, including consideration of related party interests or other financial arrangements, if any, the Company was not identified as primary beneficiary of any of these VIEs, largely due to its inability to direct the activities that most significantly impact their economic performance. Consequently, the Company continues to reflect these equity interests in the consolidated balance sheets as Other equity investments and applies the equity method of accounting for these positions. The net assets of these non-consolidated VIEs are approximately $156.7 billion and $160.2 billion at September 30, 2020 and December 31, 2019, respectively. The Company’s maximum exposure to loss from its direct involvement with these VIEs is the carrying value of its investment of $1.3 billion and $1.2 billion and approximately $1.2 billion and $1.1 billion of unfunded commitments at September 30, 2020 and December 31, 2019, respectively. The Company has no further economic interest in these VIEs in the form of guarantees, derivatives, credit enhancements or similar instruments and obligations. In addition, at September 30, 2020 and December 31, 2019, Other invested assets includes real estate held for production of income of $(4) million and $(5) million, respectively, as related to one non-consolidated real estate joint venture. Non-Consolidated AB-Sponsored Investment Products As of September 30, 2020 and December 31, 2019, the net assets of investment products sponsored by AB that are non-consolidated VIEs are approximately $68.9 billion and $79.3 billion, respectively. The Company’s maximum exposure to loss from its direct involvement with these VIEs is its investment of $7 million and $8 million at September 30, 2020 and December 31, 2019, respectively. The Company has no further commitments to or economic interest in these VIEs.

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES (Tables)	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Schedule of New Accounting Pronouncements and Changes in Accounting Principles	Adoption of New Accounting Pronouncements Description Effect on the Financial Statement or Other Significant Matters ASU 2016-13 : Financial Instruments—Credit Losses (Topic 326), as clarified and amended by ASU 2018-19: Codification Improvements to Topic 326, Financial Instruments—Credit Losses, ASU 2019-04: Codification Improvements to Topic 326, Financial Instruments—Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments and ASU 2019-05: Financial Instruments—Credit Losses (Topic 326) Targeted Transition Relief, ASU 2019-11: Codification Improvements to Topic 326, Financial Instruments—Credit Losses ASU 2016-13 contains new guidance which introduces an approach based on expected losses to estimate credit losses on certain types of financial instruments. It also modifies the impairment model for available-for-sale debt securities and provides for a simplified accounting model for purchased financial assets with credit deterioration since their origination. ASU 2019-05 provides entities that have instruments within the scope of Subtopic 326-20 an option to irrevocably elect the fair value option on an instrument-by-instrument basis upon adoption of Topic 326. ASU 2018-19, ASU 2019-04 and ASU 2019-11 clarified the codification guidance and did not materially change the standard. On January 1, 2020, the Company adopted the new standard and completed implementation of its updated current expected credit losses (“CECL”) models, processes and controls related to the identified financial assets that fall within the scope of the new standard. Upon adoption, the Company recorded a cumulative effect adjustment to reduce the opening retained earnings balance by approximately $40 million, on a pre-tax and pre-DAC basis. The adjustment is primarily attributable to an increase in the allowance for credit losses associated with the Company’s commercial and agricultural mortgage loan portfolios and reinsurance. ASU 2018-13: Fair Value Measurement (Topic 820) This ASU improves the effectiveness of fair value disclosures in the notes to financial statements. Amendments in this ASU impact the disclosure requirements in Topic 820, including the removal, modification and addition to existing disclosure requirements. The Company elected to early adopt during 2019 the removal of disclosures relating to transfers between Level 1 and Level 2 of the fair value hierarchy, the policy for timing of transfers between levels and valuation processes for Level 3 fair value measurements. The Company adopted the additional disclosures related to Level 3 fair value information on January 1, 2020. ASU 2018-17 : Consolidation (Topic 810): Targeted Improvements to Related Party Guidance for Variable Interest Entities This ASU provides guidance requiring that indirect interests held through related parties in common control arrangements be considered on a proportional basis for determining whether fees paid to decision makers and service providers are variable interests. The Company adopted this new standard effective for January 1, 2020. Adoption of this standard did not materially impact the Company’s financial position or results of operations. Description Effective Date and Method of Adoption Effect on the Financial Statement or Other Significant Matters ASU 2018-12: Financial Services - Insurance (Topic 944); ASU 2019-09: Financial Services - Insurance (Topic 944): Effective Date This ASU provides targeted improvements to existing recognition, measurement, presentation, and disclosure requirements for long-duration contracts issued by an insurance entity. The ASU primarily impacts four key areas, including: In November 2019, ASU 2019-09 was issued which modified ASU 2018-12 to be effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2021. Early adoption is permitted. On September 30, 2020, the FASB tentatively affirmed its decision to defer the effective date of the amendments in ASU 2018-12, for all insurance entities by one year. Early adoption would still be allowed. The Company is currently evaluating the impact that adoption of this guidance will have on the Company’s consolidated financial statements, however the adoption of the ASU is expected to have a significant impact on the Company’s consolidated financial condition, results of operations, cash flows and required disclosures, as well as processes and controls. 1. Measurement of the liability for future policy benefits for traditional and limited payment contracts. The ASU requires companies to review, and if necessary, update cash flow assumptions at least annually for non-participating traditional and limited-payment insurance contracts. Interest rates used to discount the liability will need to be updated quarterly using an upper medium grade (low credit risk) fixed-income instrument yield. 2. Measurement of market risk benefits (“MRBs”). MRBs, as defined under the ASU, will encompass certain GMxB features associated with variable annuity products and other general account annuities with other than nominal market risk. The ASU requires MRBs to be measured at fair value with changes in value attributable to changes in instrument-specific credit risk recognized in OCI. 3. Amortization of deferred acquisition costs. The ASU simplifies the amortization of deferred acquisition costs and other balances amortized in proportion to premiums, gross profits, or gross margins, requiring such balances to be amortized on a constant level basis over the expected term of the contracts. Deferred costs will be required to be written off for unexpected contract terminations but will not be subject to impairment testing. 4. Expanded footnote disclosures. The ASU requires additional disclosures including disaggregated roll-forwards of beginning to ending balances of the liability for future policy benefits, policyholder account balances, MRBs, separate account liabilities and deferred acquisition costs. Companies will also be required to disclose information about significant inputs, judgements, assumptions and methods used in measurement. For the liability for future policyholder benefits for traditional and limited payment contracts, companies can elect one of two adoption methods. Companies can either elect a modified retrospective transition method applied to contracts in force 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 (“AOCI”) or a full retrospective transition method using actual historical experience information as of contract inception. The same adoption method must be used for deferred policy acquisition costs. Description Effective Date and Method of Adoption Effect on the Financial Statement or Other Significant Matters ASU 2019-12: Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes This ASU simplifies the accounting for income taxes by removing certain exceptions to the general principles in Topic 740, as well as clarifying and amending existing guidance. Effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. Early adoption is permitted. The Company is currently evaluating the impact adopting the guidance will have on the Company’s consolidated financial statements, however the adoption is not expected to materially impact the Company’s financial position, results of operation, or cash flows. ASU2020-04 : Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting The amendments in this ASU provide optional expedients and exceptions to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments in this ASU apply only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. This ASU is effective as of March 12, 2020 through December 31, 2022. The Company will determine the applicability of the optional expedients and exceptions provided under the ASU as reference rate reform continues to develop.

INVESTMENTS (Tables)

INVESTMENTS (Tables)	9 Months Ended
	Sep. 30, 2020
Investments, Debt and Equity Securities [Abstract]
Available-for-Sale Fixed Maturities by Classification	The following tables provide information relating to the Company’s fixed maturities classified as AFS. AFS Fixed Maturities by Classification Amortized Cost Allowance for Credit Losses (4) Gross Unrealized Gains Gross Unrealized Losses Fair Value (in millions) September 30, 2020 Fixed Maturities: Corporate (1) $ 51,340 $ 13 $ 4,661 $ 176 $ 55,812 U.S. Treasury, government and agency 13,160 — 4,308 — 17,468 States and political subdivisions 762 — 116 — 878 Foreign governments 829 — 82 6 905 Residential mortgage-backed (2) 146 — 14 — 160 Asset-backed (3) 2,588 — 26 18 2,596 Commercial mortgage-backed 1,067 — 50 — 1,117 Redeemable preferred stock 415 — 31 3 443 Total at September 30, 2020 $ 70,307 $ 13 $ 9,288 $ 203 $ 79,379 December 31, 2019 (5) Fixed Maturities: Corporate (1) $ 45,900 $ — $ 2,361 $ 62 $ 48,199 U.S. Treasury, government and agency 14,410 — 1,289 305 15,394 States and political subdivisions 638 — 70 3 705 Foreign governments 462 — 35 5 492 Residential mortgage-backed (2) 178 — 13 — 191 Asset-backed (3) 848 — 4 3 849 Redeemable preferred stock 501 — 17 5 513 Total at December 31, 2019 $ 62,937 $ — $ 3,789 $ 383 $ 66,343 ______________ (1) Corporate fixed maturities include both public and private issues. (2) Includes publicly traded agency pass-through securities and collateralized obligations. (3) Includes credit-tranched securities collateralized by sub-prime mortgages and other asset types and credit tenant loans. (4) Amounts represent the allowance for credit losses for 2020 (see Note 2 Significant Accounting Policies – Investments). (5) Excludes amounts reclassified as HFS.
Contractual Maturities of Available-for-Sale Fixed Maturities	The contractual maturities of AFS fixed maturities at September 30, 2020 are shown in the table below. Bonds not due at a single maturity date have been included in the table in the final year of maturity. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Contractual Maturities of AFS Fixed Maturities Amortized Cost (Less Allowance for Credit Losses) Fair Value (in millions) September 30, 2020 Contractual maturities: Due in one year or less $ 4,326 $ 4,362 Due in years two through five 15,844 16,772 Due in years six through ten 18,836 20,887 Due after ten years 27,072 33,042 Subtotal 66,078 75,063 Residential mortgage-backed 146 160 Asset-backed 2,588 2,596 Commercial mortgage-backed 1,067 1,117 Redeemable preferred stock 415 443 Total at September 30, 2020 $ 70,294 $ 79,379
Proceeds and Gains (Losses) on Sales for Available-for-Sale Fixed Maturities	The following table shows proceeds from sales, gross gains (losses) from sales and credit losses for AFS fixed maturities for the three and nine months ended September 30, 2020 and 2019: Proceeds from Sales, Gross Gains (Losses) from Sales and Credit Losses for AFS Fixed Maturities Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (in millions) Proceeds from sales $ 1,433 $ 3,849 $ 6,200 $ 6,913 Gross gains on sales $ 26 $ 205 $ 303 $ 223 Gross losses on sales $ (5) $ (4) $ (39) $ (29) Credit losses (1) $ — $ — $ (13) $ — ______________ (1) Commencing with the Company’s adoption of ASU 2016-13 on January 1, 2020, credit losses on AFS debt securities were recognized as an allowance for credit losses. Prior to this, credit losses on AFS fixed maturities were recognized as OTTI.
AFS Fixed Maturities - Credit Loss Impairments	The following table sets forth the amount of credit loss impairments on AFS fixed maturities held by the Company at the dates indicated and the corresponding changes in such amounts. AFS Fixed Maturities - Credit Loss Impairments Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (in millions) Balance, beginning of period $ 32 $ 25 $ 21 $ 58 Previously recognized impairments on securities that matured, paid, prepaid or sold — (4) (2) (37) Recognized impairments on securities impaired to fair value this period (1) — — — — Credit losses recognized this period on securities for which credit losses were not previously recognized (3) — 7 — Additional credit losses this period on securities previously impaired 3 — 6 — Increases due to passage of time on previously recorded credit losses — — — — Accretion of previously recognized impairments due to increases in expected cash flows (for OTTI securities 2019 and prior) — — — — Balance at September 30, $ 32 $ 21 $ 32 $ 21 ______________ (1) Represents circumstances where the Company determined in the current period that it intends to sell the security, or it is more likely than not that it will be required to sell the security before recovery of the security’s amortized cost.
Net Unrealized Gains (Losses) on Available-for-Sale Fixed Maturities	The tables that follow below present a roll-forward of net unrealized investment gains (losses) recognized in AOCI, split between amounts related to fixed maturities on which a credit loss has been recognized, and all other. Net Unrealized Gains (Losses) on AFS Fixed Maturities Net Unrealized Gains (Losses) on Investments DAC Policyholders’ Liabilities Deferred Income Tax Asset (Liability) AOCI Gain (Loss) Related to Net Unrealized Investment Gains (Losses) (in millions) Balance, July 1, 2020 $ 8,728 $ (1,521) $ (1,034) $ (1,297) $ 4,876 Net investment gains (losses) arising during the period 362 — — — 362 Reclassification adjustment: Included in Net income (loss) (21) — — — (21) Excluded from Net income (loss) — — — — — Impact of net unrealized investment gains (losses) — 23 (13) (74) (64) Net unrealized investment gains (losses) excluding credit losses 9,069 (1,498) (1,047) (1,371) 5,153 Net unrealized investment gains (losses) with credit losses 3 (1) — — 2 Balance, September 30, 2020 $ 9,072 $ (1,499) $ (1,047) $ (1,371) $ 5,155 Balance, July 1, 2019 $ 2,929 $ (649) $ (101) $ (481) $ 1,698 Net investment gains (losses) arising during the period 1,619 — — — 1,619 Reclassification adjustment: Included in Net income (loss) (199) — — — (199) Excluded from Net income (loss) — — — — — Impact of net unrealized investment gains (losses) — (374) (121) (150) (645) Net Unrealized Gains (Losses) on Investments DAC Policyholders’ Liabilities Deferred Income Tax Asset (Liability) AOCI Gain (Loss) Related to Net Unrealized Investment Gains (Losses) (in millions) Net unrealized investment gains (losses) excluding credit losses 4,349 (1,023) (222) (631) 2,473 Net unrealized investment gains (losses) with credit losses (1) — — — — — Balance, September 30, 2019 $ 4,349 $ (1,023) $ (222) $ (631) $ 2,473 Net Unrealized Gains (Losses) on Investments DAC Policyholders’ Liabilities Deferred Income Tax Asset (Liability) AOCI Gain (Loss) Related to Net Unrealized Investment Gains (Losses) (in millions) Balance, January 1, 2020 $ 3,453 $ (894) $ (189) $ (497) $ 1,873 Net investment gains (losses) arising during the period 5,898 — — — 5,898 Reclassification adjustment: Included in Net income (loss) (273) — — — (273) Excluded from Net income (loss) — — — — — Impact of net unrealized investment gains (losses) — (606) (859) (875) (2,340) Net unrealized investment gains (losses) excluding credit losses 9,078 (1,500) (1,048) (1,372) 5,158 Net unrealized investment gains (losses) with credit losses (6) 1 1 1 (3) Balance, September 30, 2020 $ 9,072 $ (1,499) $ (1,047) $ (1,371) $ 5,155 Balance, January 1, 2019 $ (522) $ 100 $ (88) $ 104 $ (406) Net investment gains (losses) arising during the period 5,075 — — — 5,075 Reclassification adjustment: Included in Net income (loss) (204) — — — (204) Excluded from Net income (loss) — — — — — Impact of net unrealized investment gains (losses) — (1,123) (134) (735) (1,992) Net unrealized investment gains (losses) excluding credit losses 4,349 (1,023) (222) (631) 2,473 Net unrealized investment gains (losses) with credit losses (1) — — — — — Balance, September 30, 2019 $ 4,349 $ (1,023) $ (222) $ (631) $ 2,473 _____________
Continuous Gross Unrealized Losses for Available-for-Sale Fixed Maturities	The following tables disclose the fair values and gross unrealized losses of the 729 issues at September 30, 2020 and the 413 issues at December 31, 2019 that are not deemed to have credit losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position for the specified periods at the dates indicated. AFS Fixed Maturities in an Unrealized Loss Position for Which No Allowance Is Recorded Less Than 12 Months 12 Months or Longer Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (in millions) September 30, 2020: Fixed Maturities: Corporate $ 4,247 $ 121 $ 369 $ 50 $ 4,616 $ 171 Foreign governments 88 1 31 5 119 6 Asset-backed 1,324 16 74 2 1,398 18 Redeemable preferred stock 59 1 11 2 70 3 Total at September 30, 2020 $ 5,718 $ 139 $ 485 $ 59 $ 6,203 $ 198 December 31, 2019: (1) (2) Fixed Maturities: Corporate $ 2,773 $ 42 $ 373 $ 20 $ 3,146 $ 62 U.S. Treasury, government and agency 4,309 305 2 — 4,311 305 States and political subdivisions 112 3 — — 112 3 Foreign governments 11 — 47 5 58 5 Asset-backed 319 1 201 2 520 3 Redeemable preferred stock 29 — 49 5 78 5 Total at December 31, 2019 $ 7,553 $ 351 $ 672 $ 32 $ 8,225 $ 383 ______________ (1) Amounts represents fixed maturities in an unrealized loss position that are not deemed to be OTTI for 2019. (2) Excludes amounts reclassified as HFS.
Financing Receivable, Allowance for Credit Loss	The change in the allowance for credit losses for commercial mortgage loans and agricultural mortgage loans during the three and nine months ended September 30, 2020 was as follows: Three Months Ended September 30, 2020 Nine Months Ended September 30, 2020 (in millions) Allowance for credit losses on mortgage loans (1): Commercial mortgages: Balance, beginning of period $ 62 $ 33 Current-period provision for expected credit losses 4 33 Write-offs charged against the allowance — — Recoveries of amounts previously written off — — Net change in allowance $ 4 $ 33 Ending Balance, September 30, $ 66 $ 66 Agricultural mortgages: Balance, beginning of period $ 4 $ 3 Current-period provision for expected credit losses — 1 Write-offs charged against the allowance — — Recoveries of amounts previously written off — — Net change in allowance $ — $ 1 Ending Balance, September 30, $ 4 $ 4 Total allowance for credit losses $ 70 $ 70 _______________ (1) See Note 2 for discussion of the allowance of credit losses transition balance, which is included in the Balance, beginning of period.
Financing Receivable Credit Quality Indicators	The following tables summarize the Company’s mortgage loans segregated by risk rating exposure at September 30, 2020. LTV Ratios (1) At September 30, 2020 Amortized Cost Basis by Origination Year 2020 2019 2018 2017 2016 Prior Total (in millions) Mortgage loans: Commercial: 0% - 50% $ — $ — $ — $ 324 $ 187 $ 650 $ 1,161 50% - 70% 935 411 885 760 2,432 1,608 7,031 70% - 90% 90 394 368 115 153 574 1,694 90% plus — — 12 5 — 216 233 Total commercial $ 1,025 $ 805 $ 1,265 $ 1,204 $ 2,772 $ 3,048 $ 10,119 Agricultural: 0% - 50% $ 181 $ 137 $ 168 $ 161 $ 232 $ 679 $ 1,558 50% - 70% 253 131 172 110 136 372 1,174 70% - 90% — — 3 — — 18 21 90% plus — — — — — — — Total agricultural $ 434 $ 268 $ 343 $ 271 $ 368 $ 1,069 $ 2,753 Total mortgage loans: 0% - 50% $ 181 $ 137 $ 168 $ 485 $ 419 $ 1,329 $ 2,719 50% - 70% 1,188 542 1,057 870 2,568 1,980 8,205 70% - 90% 90 394 371 115 153 592 1,715 90% plus — — 12 5 — 216 233 Total mortgage loans $ 1,459 $ 1,073 $ 1,608 $ 1,475 $ 3,140 $ 4,117 $ 12,872 Debt Service Coverage Ratios (2) At September 30, 2020 Amortized Cost Basis by Origination Year 2020 2019 2018 2017 2016 Prior Total (in millions) Mortgage loans: Commercial: Greater than 2.0x $ 749 $ 492 $ 772 $ 268 $ 2,053 $ 1,268 $ 5,602 1.8x to 2.0x 227 77 118 378 184 524 1,508 1.5x to 1.8x 49 138 186 480 437 569 1,859 1.2x to 1.5x — 56 154 78 97 533 918 1.0x to 1.2x — 42 35 — 1 82 160 Less than 1.0x — — — — — 72 72 Total commercial $ 1,025 $ 805 $ 1,265 $ 1,204 $ 2,772 $ 3,048 $ 10,119 Agricultural Greater than 2.0x $ 52 $ 27 $ 39 $ 38 $ 73 $ 158 $ 387 1.8x to 2.0x 33 36 14 15 21 90 209 1.5x to 1.8x 103 38 45 41 52 212 491 1.2x to 1.5x 165 118 146 105 147 327 1,008 1.0x to 1.2x 77 39 91 71 57 265 600 Less than 1.0x 4 10 8 1 18 17 58 Total agricultural $ 434 $ 268 $ 343 $ 271 $ 368 $ 1,069 $ 2,753 Total mortgage loans Greater than 2.0x $ 801 $ 519 $ 811 $ 306 $ 2,126 $ 1,426 $ 5,989 1.8x to 2.0x 260 113 132 393 205 614 1,717 1.5x to 1.8x 152 176 231 521 489 781 2,350 1.2x to 1.5x 165 174 300 183 244 860 1,926 1.0x to 1.2x 77 81 126 71 58 347 760 Less than 1.0x 4 10 8 1 18 89 130 Total mortgage loans $ 1,459 $ 1,073 $ 1,608 $ 1,475 $ 3,140 $ 4,117 $ 12,872 ______________ (1) The LTV ratio is derived from current loan balance divided by the fair value of the property. The fair value of the underlying commercial properties is updated annually for each mortgage loan. (2) The DSC ratio is calculated using the most recently reported operating income results from property operations divided by annual debt service. The following tables provide information relating to the LTV and DSC ratios for commercial and agricultural mortgage loans at September 30, 2020 and December 31, 2019. The values used in these ratio calculations were developed as part of the periodic review of the commercial and agricultural mortgage loan portfolio, which includes an evaluation of the underlying collateral value. Mortgage Loans by LTV and DSC Ratios DSC Ratio (2) (3) LTV Ratio (1) (3): Greater than 2.0x 1.8x to 1.5x to 1.2x to 1.0x to Less than Total (in millions) September 30, 2020: Mortgage loans: Commercial: 0% - 50% $ 952 $ — $ 185 $ 24 $ — $ — $ 1,161 50% - 70% 3,992 1,160 1,342 511 26 — 7,031 DSC Ratio (2) (3) LTV Ratio (1) (3): Greater than 2.0x 1.8x to 1.5x to 1.2x to 1.0x to Less than Total (in millions) 70% - 90% 574 348 332 306 134 — 1,694 90% plus 84 — — 77 — 72 233 Total commercial $ 5,602 $ 1,508 $ 1,859 $ 918 $ 160 $ 72 $ 10,119 Agricultural: 0% - 50% $ 283 $ 107 $ 271 $ 529 $ 335 $ 33 $ 1,558 50% - 70% 104 100 220 460 265 25 1,174 70% - 90% — 2 — 19 — — 21 90% plus — — — — — — — Total agricultural $ 387 $ 209 $ 491 $ 1,008 $ 600 $ 58 $ 2,753 Total mortgage loans: 0% - 50% $ 1,235 $ 107 $ 456 $ 553 $ 335 $ 33 $ 2,719 50% - 70% 4,096 1,260 1,562 971 291 25 8,205 70% - 90% 574 350 332 325 134 — 1,715 90% plus 84 — — 77 — 72 233 Total mortgage loans $ 5,989 $ 1,717 $ 2,350 $ 1,926 $ 760 $ 130 $ 12,872 December 31, 2019: Mortgage loans: Commercial: 0% - 50% $ 903 $ 38 $ 214 $ 25 $ — $ — $ 1,180 50% - 70% 4,097 1,195 1,118 795 242 — 7,447 70% - 90% 251 98 214 154 46 — 763 90% plus — — — — — — — Total commercial $ 5,251 $ 1,331 $ 1,546 $ 974 $ 288 $ — $ 9,390 Agricultural: 0% - 50% $ 322 $ 104 $ 241 $ 545 $ 321 $ 50 $ 1,583 50% - 70% 82 87 236 426 251 33 1,115 70% - 90% — — — 19 — — 19 90% plus — — — — — — — Total agricultural $ 404 $ 191 $ 477 $ 990 $ 572 $ 83 $ 2,717 Total mortgage loans: 0% - 50% $ 1,225 $ 142 $ 455 $ 570 $ 321 $ 50 $ 2,763 50% - 70% 4,179 1,282 1,354 1,221 493 33 8,562 70% - 90% 251 98 214 173 46 — 782 90% plus — — — — — — — Total mortgage loans $ 5,655 $ 1,522 $ 2,023 $ 1,964 $ 860 $ 83 $ 12,107 ______________ (1) The LTV ratio is derived from current loan balance divided by the fair value of the property. The fair value of the underlying commercial properties is updated annually for each mortgage loan. (2) The DSC ratio is calculated using the most recently reported operating income results from property operations divided by annual debt service.
Age Analysis Of Past Due Mortgage Loans	The following table provides information relating to the aging analysis of past-due mortgage loans at September 30, 2020 and December 31, 2019, respectively. Age Analysis of Past Due Mortgage Loans (1) Accruing Loans Non-accruing Loans Total Loans Non-accruing Loans with No Allowance Interest Income on Non-accruing Loans (2) Past Due Current Total 30-59 Days 60-89 Days 90 Days or More Total (in millions) September 30, 2020: Mortgage loans: Commercial $ — $ — $ — $ — $ 10,119 $ 10,119 $ — $ 10,119 $ — $ — Agricultural 24 6 135 165 2,588 2,753 — 2,753 — — Total $ 24 $ 6 $ 135 $ 165 $ 12,707 $ 12,872 $ — $ 12,872 $ — $ — December 31, 2019: Mortgage loans: Commercial $ — $ — $ — $ — $ 9,390 $ 9,390 $ — $ 9,390 $ — $ — Agricultural 57 1 66 124 2,593 2,717 — 2,717 — — Total $ 57 $ 1 $ 66 $ 124 $ 11,983 $ 12,107 $ — $ 12,107 $ — $ — _______________ (1) Amounts presented at amortized cost basis. (2) Amounts for 2020 represent results for both the three and nine months ended September 30, 2020.
Net Investment Income (Loss) from Trading Securities	The table below shows a breakdown of Net investment income (loss) from trading securities during the three and nine months ended September 30, 2020 and 2019. Net Investment Income (Loss) from Trading Securities Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (in millions) Net investment gains (losses) recognized during the period on securities held at the end of the period $ (13) $ 15 $ 88 $ 492 Net investment gains (losses) recognized on securities sold during the period 16 14 45 (7) Unrealized and realized gains (losses) on trading securities 3 29 133 485 Interest and dividend income from trading securities 60 62 159 227 Net investment income (loss) from trading securities $ 63 $ 91 $ 292 $ 712

DERIVATIVES (Tables)

DERIVATIVES (Tables)	9 Months Ended
	Sep. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments by Category	The tables below present quantitative disclosures about the Company’s derivative instruments, including those embedded in other contracts required to be accounted for as derivative instruments. Derivative Instruments by Category At September 30, 2020 Nine Months Ended September 30, 2020 Fair Value Notional Amount Derivative Assets Derivative Liabilities Net Derivative Gains (Losses) (2) (in millions) Derivative instruments: Freestanding derivatives (1): Equity contracts: Futures $ 4,480 $ — $ — $ (401) Swaps 20,718 28 18 (604) Options 31,750 5,557 2,800 (481) Interest rate contracts: Swaps 24,024 1,699 341 3,587 Futures 19,922 — — 2,051 Swaptions — — — 9 Credit contracts: Credit default swaps 1,534 24 18 2 Other freestanding contracts: Foreign currency contracts 416 8 8 (3) Margin — 69 125 — Collateral — 14 4,965 — Embedded derivatives: GMIB reinsurance contracts (3) — 2,818 — 737 GMxB derivative features liability (4) — — 12,204 (3,421) SCS, SIO, MSO and IUL indexed features (5) — — 2,606 414 Total derivative instruments $ 102,844 $ 10,217 $ 23,085 Net derivative gains (losses) $ 1,890 ______________ (1) Reported in Other invested assets in the consolidated balance sheets. (2) Reported in Net derivative gains (losses) in the consolidated statements of income (loss). (3) Reported in GMIB reinsurance contract asset in the consolidated balance sheets. (4) Reported in Future policy benefits and other policyholders’ liabilities in the consolidated balance sheets. (5) Reported in Policyholders’ account balances in the consolidated balance sheets. Derivative Instruments by Category At December 31, 2019 Nine Months Ended September 30, 2019 Fair Value Notional Amount Derivative Assets Derivative Net Derivative (in millions) Derivative instruments: Freestanding derivatives (1): Equity contracts: Futures $ 4,257 $ 1 $ 1 $ (990) Swaps 17,156 9 281 (1,279) Options 47,861 5,098 1,752 1,255 Interest rate contracts: Swaps 23,793 468 526 2,843 Futures 20,901 — — 188 Swaptions 3,201 16 — 146 Credit contracts: Credit default swaps 1,400 21 6 9 Other freestanding contracts: Foreign currency contracts 559 12 9 (11) Margin — 155 — — Collateral — 74 3,016 — Embedded derivatives: GMIB reinsurance contracts (3) — 2,139 — 740 GMxB derivative features liability (4) — — 8,502 (3,677) SCS, SIO, MSO and IUL indexed features (5) — — 3,268 (1,547) Total derivative instruments $ 119,128 $ 7,993 $ 17,361 Net derivative gains (losses) $ (2,323) ______________ (1) Reported in Other invested assets in the consolidated balance sheets. (2) Reported in Net derivative gains (losses) in the consolidated statements of income (loss). (3) Reported in GMIB reinsurance contract asset in the consolidated balance sheets. (4) Reported in Future policy benefits and other policyholders’ liabilities in the consolidated balance sheets. (5) Reported in Policyholders’ account balances in the consolidated balance sheets.
Offsetting Financial Assets and Liabilities and Derivative Instruments	The following table presents information about the Company’s offsetting of financial assets and liabilities and derivative instruments at September 30, 2020: Offsetting of Financial Assets and Liabilities and Derivative Instruments At September 30, 2020 Gross Amount Recognized Gross Amount Offset in the Balance Sheets Net Amount Presented in the Balance Sheets Gross Amount not Offset in the Balance Sheets (3) Net Amount (in millions) Assets: Derivative assets (1) $ 7,398 $ 7,282 $ 116 $ (54) $ 62 Other financial assets 1,686 — 1,686 — 1,686 Other invested assets $ 9,084 $ 7,282 $ 1,802 $ (54) $ 1,748 Liabilities: Derivative liabilities (2) $ 8,222 $ 7,282 $ 940 $ — $ 940 Other financial liabilities 3,924 — 3,924 — 3,924 Other liabilities $ 12,146 $ 7,282 $ 4,864 $ — $ 4,864 ______________ (1) Excludes Investment Management and Research segment’s derivative assets of consolidated VIEs/VOEs. (2) Excludes Investment Management and Research segment’s derivative liabilities of consolidated VIEs/VOEs. (3) Financial instruments sent (held). The following table presents information about the Company’s offsetting of financial assets and liabilities and derivative instruments at December 31, 2019: Offsetting of Financial Assets and Liabilities and Derivative Instruments At December 31, 2019 Gross Amount Recognized Gross Amount Offset in the Balance Sheets Net Amount Presented in the Balance Sheets Gross Amount not Offset in the Balance Sheets (3) Net Amount (in millions) Assets: Derivative assets (1) $ 5,852 $ 5,466 $ 386 $ (77) $ 309 Other financial instruments 2,394 — 2,394 — 2,394 Other invested assets $ 8,246 $ 5,466 $ 2,780 $ (77) $ 2,703 Liabilities: Derivative liabilities (2) $ 5,512 $ 5,466 $ 46 $ — $ 46 Other financial liabilities 3,924 — 3,924 — 3,924 Other liabilities $ 9,436 $ 5,466 $ 3,970 $ — $ 3,970 ______________ (1) Excludes Investment Management and Research segment’s derivative assets of consolidated VIEs/VOEs. (2) Excludes Investment Management and Research segment’s derivative liabilities of consolidated VIEs/VOEs. (3) Financial instruments sent (held).

CLOSED BLOCK (Tables)

CLOSED BLOCK (Tables)	9 Months Ended
	Sep. 30, 2020
Closed Block Disclosure [Abstract]
Schedule of Closed Block Assets and Liabilities	Summarized financial information for the Company’s Closed Block is as follows: September 30, 2020 December 31, 2019 (in millions) Closed Block Liabilities: Future policy benefits, policyholders’ account balances and other $ 6,260 $ 6,478 Policyholder dividend obligation 149 2 Other liabilities 58 38 Total Closed Block liabilities 6,467 6,518 Assets Designated to the Closed Block: Fixed maturities available-for-sale, at fair value (amortized cost of $3,440 and $3,558) (allowance for credit losses of $0 at September 30, 2020) 3,788 3,754 Mortgage loans on real estate (net of allowance for credit losses of $6 at September 30, 2020) 1,782 1,759 Policy loans 656 706 Cash and other invested assets 3 82 Other assets 172 145 Total assets designated to the Closed Block 6,401 6,446 September 30, 2020 December 31, 2019 (in millions) Excess of Closed Block liabilities over assets designated to the Closed Block 66 72 Amounts included in accumulated other comprehensive income (loss): Net unrealized investment gains (losses), net of policyholders’ dividend obligation: $149 and $2; and net of income tax: $42 and $41 168 164 Maximum future earnings to be recognized from Closed Block assets and liabilities $ 234 $ 236
Closed Block Operations, Net Results	The Company’s Closed Block revenues and expenses were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (in millions) Revenues: Premiums and other income $ 36 $ 42 $ 118 $ 136 Net investment income (loss) 61 69 190 208 Investment gains (losses), net 1 — (1) (1) Total revenues 98 111 307 343 Benefits and Other Deductions: Policyholders’ benefits and dividends 96 108 302 343 Other operating costs and expenses — — 1 1 Total benefits and other deductions 96 108 303 344 Net income (loss), before income taxes 2 3 4 (1) Income tax (expense) benefit (1) — (2) (2) Net income (loss) $ 1 $ 3 $ 2 $ (3)

INSURANCE LIABILITIES (Tables)

INSURANCE LIABILITIES (Tables)	9 Months Ended
	Sep. 30, 2020
Insurance [Abstract]
Variable Annuity Contracts- GMDB GMIB	Change in Liability for Variable Annuity Contracts with GMDB and GMIB Features and No NLG Feature For the Three and Nine Months Ended September 30, 2020 and 2019 GMDB GMIB Direct Assumed Ceded Direct Assumed Ceded (in millions) Balance at July 1, 2020 $ 5,004 $ 70 $ (105) $ 6,122 $ 232 $ (2,931) Paid guarantee benefits (121) (6) 3 (110) (9) 21 Other changes in reserve 233 4 10 113 (3) 92 Balance at September 30, 2020 $ 5,116 $ 68 $ (92) $ 6,125 $ 220 $ (2,818) Balance at July 1, 2019 $ 4,714 $ 76 $ (106) $ 3,759 $ 192 $ (1,897) Paid guarantee benefits (102) (6) 3 (71) 15 20 Other changes in reserve 155 4 (4) 979 (2) (576) Balance at September 30, 2019 $ 4,767 $ 74 $ (107) $ 4,667 $ 205 $ (2,453) GMDB GMIB Direct Assumed Ceded Direct Assumed Ceded (in millions) Balance at January 1, 2020 $ 4,780 $ 76 $ (104) $ 4,673 $ 187 $ (2,139) Paid guarantee benefits (372) (16) 11 (287) 39 58 Other changes in reserve 708 8 1 1,739 (6) (737) Balance at September 30, 2020 $ 5,116 $ 68 $ (92) $ 6,125 $ 220 $ (2,818) Balance at January 1, 2019 $ 4,662 $ 82 $ (113) $ 3,746 $ 184 $ (1,733) Paid guarantee benefits (328) (17) 11 (183) 25 55 Other changes in reserve 433 9 (5) 1,104 (4) (775) Balance at September 30, 2019 $ 4,767 $ 74 $ (107) $ 4,667 $ 205 $ (2,453)
Schedule of Net Amount of Risk by Product and Guarantee	Direct Variable Annuity Contracts with GMDB and GMIB Features at September 30, 2020 Guarantee Type Return of Premium Ratchet Roll-Up Combo Total (in millions, except age and interest rate) Variable annuity contracts with GMDB features Account Values invested in: General Account $ 15,155 $ 89 $ 57 $ 171 $ 15,472 Separate Accounts 48,407 8,812 3,021 31,083 91,323 Total Account Values $ 63,562 $ 8,901 $ 3,078 $ 31,254 $ 106,795 Net Amount at Risk, gross $ 125 $ 94 $ 1,864 $ 19,561 $ 21,644 Net Amount at Risk, net of amounts reinsured $ 125 $ 91 $ 1,319 $ 19,561 $ 21,096 Average attained age of policyholders (in years) 51.3 68.1 74.7 70.0 55.3 Percentage of policyholders over age 70 11.0 % 47.7 % 69.8 % 53.3 % 20.0 % Range of contractually specified interest rates N/A N/A 3% - 6% 3% - 6.5% 3% - 6.5% Variable annuity contracts with GMIB features Account Values invested in: General Account $ — $ — $ 17 $ 220 $ 237 Separate Accounts — — 23,124 33,217 56,341 Total Account Values $ — $ — $ 23,141 $ 33,437 $ 56,578 Net Amount at Risk, gross $ — $ — $ 1,100 $ 14,461 $ 15,561 Net Amount at Risk, net of amounts reinsured $ — $ — $ 349 $ 13,066 $ 13,415 Average attained age of policyholders (in years) N/A N/A 64.0 70.0 67.8 Weighted average years remaining until annuitization N/A N/A 5.7 0.7 2.5 Range of contractually specified interest rates N/A N/A 3% - 6% 3% - 6.5% 3% - 6.5% Assumed Variable Annuity Contracts with GMDB and GMIB Features at September 30, 2020 Guarantee Type Return of Premium Ratchet Roll-Up Combo Total (in millions, except age and interest rates) Variable annuity contracts with GMDB features Reinsured Account Values $ 888 $ 4,915 $ 247 $ 1,079 $ 7,129 Net Amount at Risk assumed $ 5 $ 241 $ 14 $ 142 $ 402 Average attained age of policyholders (in years) 68 73 78 76 73 Percentage of policyholders over age 70 45.9 % 65.6 % 79.9 % 76.1 % 65.2 % Range of contractually specified interest rates (1) N/A N/A 3%-10% 5%-10% 3%-10% Guarantee Type Return of Premium Ratchet Roll-Up Combo Total (in millions, except age and interest rates) Variable annuity contracts with GMIB features Reinsured Account Values $ 878 $ 42 $ 217 $ 1,090 $ 2,227 Net Amount at Risk assumed $ 1 $ — $ 27 $ 296 $ 324 Average attained age of policyholders (in years) 72 74 72 70 71 Percentage of policyholders over age 70 65.0 % 62.2 % 61.9 % 54.5 % 59.5 % Range of contractually specified interest rates N/A N/A 3.3%-6.5% 6%-6% 3.3%-6.5% ______________ (1) In general, for policies with the highest contractual interest rate shown (10%), the rate applied only for the first 10 years after issue, which has now elapsed.
Schedule of Fair Value of Separate Accounts by Major Category of Investment	Investment in Variable Insurance Trust Mutual Funds September 30, 2020 December 31, 2019 Mutual Fund Type GMDB GMIB GMDB GMIB (in millions) Equity $ 41,259 $ 16,739 $ 42,489 $ 17,941 Fixed income 5,371 2,679 5,263 2,699 Balanced 43,684 36,656 45,872 38,445 Other 1,009 267 865 263 Total $ 91,323 $ 56,341 $ 94,489 $ 59,348
No Lapse Guarantee Liabilities	The change in the NLG liabilities, reflected in Future policy benefits and other policyholders’ liabilities in the consolidated balance sheets, is summarized in the table below. Direct Liability (1) Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (in millions) Beginning balance (2) $ 948 $ 845 $ 898 $ 813 Paid guarantee benefits (6) (7) (32) (16) Other changes in reserves 60 54 136 95 Ending balance $ 1,002 $ 892 $ 1,002 $ 892 ______________ (1) There were no amounts of reinsurance ceded in any period presented. (2) The beginning balance for the nine months ended September 30, 2020 was reduced by $22 million to reflect the balance transferred to Assets HFS at December 31, 2019.

FAIR VALUE DISCLOSURES (Tables)

FAIR VALUE DISCLOSURES (Tables)	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Assets and Liabilities Measured at Fair Value on Recurring Basis		Fair Value Measurements at September 30, 2020 Level 1 Level 2 Level 3 Total (in millions) Assets Investments Fixed maturities, AFS: Corporate (1) $ — $ 54,318 $ 1,494 $ 55,812 U.S. Treasury, government and agency — 17,468 — 17,468 States and political subdivisions — 839 39 878 Foreign governments — 905 — 905 Residential mortgage-backed (2) — 160 — 160 Asset-backed (3) — 2,583 13 2,596 Commercial mortgage-backed — 1,117 — 1,117 Redeemable preferred stock 369 74 — 443 Total fixed maturities, AFS 369 77,464 1,546 79,379 Other equity investments 20 — 73 93 Trading securities 414 5,778 52 6,244 Other invested assets: Short-term investments — 126 — 126 Assets of consolidated VIEs/VOEs 19 213 13 245 Swaps — 1,368 — 1,368 Credit default swaps — 6 — 6 Futures — — — — Options — 2,757 — 2,757 Swaptions — — — — Total other invested assets 19 4,470 13 4,502 Cash equivalents 6,331 1,041 — 7,372 Segregated securities — 1,869 — 1,869 GMIB reinsurance contracts asset — — 2,818 2,818 Separate Accounts assets (4) 120,418 2,438 — 122,856 Total Assets $ 127,571 $ 93,060 $ 4,502 $ 225,133 Liabilities GMxB derivative features’ liability $ — $ — $ 12,204 $ 12,204 SCS, SIO, MSO and IUL indexed features’ liability — 2,606 — 2,606 Liabilities of consolidated VIEs and VOEs — 5 — 5 Contingent payment arrangements — — 30 30 Total Liabilities $ — $ 2,611 $ 12,234 $ 14,845 ______________ (1) Corporate fixed maturities includes both public and private issues. (2) Includes publicly traded agency pass-through securities and collateralized obligations. (3) Includes credit-tranched securities collateralized by sub-prime mortgages and other asset types and credit tenant loans. (4) Separate Accounts 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 and commercial mortgages. At September 30, 2020, the fair value of such investments was $356 million. Fair Value Measurements at December 31, 2019 (1) Level 1 Level 2 Level 3 Total (in millions) Assets Investments Fixed maturities, AFS: Corporate (2) $ — $ 46,942 $ 1,257 $ 48,199 U.S. Treasury, government and agency — 15,394 — 15,394 States and political subdivisions — 666 39 705 Foreign governments — 492 — 492 Residential mortgage-backed (3) — 191 — 191 Asset-backed (4) — 749 100 849 Redeemable preferred stock 239 274 — 513 Total fixed maturities, AFS 239 64,708 1,396 66,343 Other equity investments 13 — 97 110 Trading securities 500 6,495 36 7,031 Other invested assets: Short-term investments — 490 — 490 Assets of consolidated VIEs/VOEs 132 457 17 606 Swaps — (327) — (327) Credit default swaps — 15 — 15 Options — 3,346 — 3,346 Swaptions — 16 — 16 Total other invested assets 132 3,997 17 4,146 Cash equivalents 3,497 — — 3,497 Segregated securities — 1,095 — 1,095 GMIB reinsurance contracts asset — — 2,139 2,139 Separate Accounts assets (5) 123,432 2,892 — 126,324 Total Assets $ 127,813 $ 79,187 $ 3,685 $ 210,685 Liabilities GMxB derivative features’ liability $ — $ — $ 8,502 $ 8,502 SCS, SIO, MSO and IUL indexed features’ liability — 3,268 — 3,268 Liabilities of consolidated VIEs and VOEs 1 9 — 10 Contingent payment arrangements — — 23 23 Total Liabilities $ 1 $ 3,277 $ 8,525 $ 11,803 ______________ (1) Excludes amounts reclassified as HFS. (2) Corporate fixed maturities includes both public and private issues. (3) Includes publicly traded agency pass-through securities and collateralized obligations. (4) Includes credit-tranched securities collateralized by sub-prime mortgages and other asset types and credit tenant loans. (5) Separate Accounts 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 and commercial mortgages. At December 31, 2019, the fair value of such investments was $356 million.
Reconciliation of Assets and Liabilities at Level 3	The tables below present reconciliations for all Level 3 assets and liabilities for the three and nine months ended September 30, 2020 and 2019, respectively. Level 3 Instruments - Fair Value Measurements Corporate State and Political Subdivisions Asset- backed (in millions) Balance, July 1, 2020 $ 1,685 $ 40 $ — Total gains and (losses), realized and unrealized, included in: Net income (loss) as: Net investment income (loss) — — — Investment gains (losses), net (1) — — Subtotal (1) — — Other comprehensive income (loss) 18 (1) — Purchases (155) — 13 Sales (24) — — Transfers into Level 3 (1) (29) — — Transfers out of Level 3 (1) — — — Balance, September 30, 2020 $ 1,494 $ 39 $ 13 Corporate State and Political Subdivisions Asset- backed (in millions) Balance, July 1, 2019 $ 1,302 $ 40 $ 534 Total gains and (losses), realized and unrealized, included in: Net income (loss) as: Net investment income (loss) — — — Investment gains (losses), net — 1 — Subtotal — 1 — Other comprehensive income (loss) (6) — — Purchases (3) — 71 Sales (42) (2) (73) Transfers into Level 3 (1) — — — Transfers out of Level 3 (1) (31) — — Balance, September 30, 2019 $ 1,220 $ 39 $ 532 _____________ (1) Transfers into/out of the Level 3 classification are reflected at beginning-of-period fair values. Corporate State and Asset-backed (in millions) Balance, January 1, 2020 $ 1,257 $ 39 $ 100 Total gains and (losses), realized and unrealized, included in: Net income (loss) as: Net investment income (loss) 2 — — Investment gains (losses), net (14) — — Subtotal (12) — — Other comprehensive income (loss) (36) 1 — Purchases 207 — 13 Sales (114) (1) — Transfers into Level 3 (1) 195 — — Transfers out of Level 3 (1) (3) — (100) Balance, September 30, 2020 $ 1,494 $ 39 $ 13 Balance, January 1, 2019 $ 1,186 $ 39 $ 519 Total gains and (losses), realized and unrealized, included in: Net income (loss) as: Net investment income (loss) 3 — — Investment gains (losses), net — 1 — Subtotal 3 1 — Other comprehensive income (loss) 4 2 5 Purchases 219 — 81 Sales (102) (3) (73) Transfers into Level 3 (1) 14 — — Transfers out of Level 3 (1) (104) — — Balance, September 30, 2019 $ 1,220 $ 39 $ 532 _____________ (1) Transfers into/out of the Level 3 classification are reflected at beginning-of-period fair values. Other Equity Investments GMIB Reinsurance Contract Asset Separate Accounts Assets GMxB Derivative Features Liability Contingent Payment Arrangement (in millions) Balance, July 1, 2020 $ 132 $ 2,931 $ — $ (12,689) $ (28) Realized and unrealized gains (losses), included in Net income (loss) as: Investment gains (losses), net 7 — — — — Net derivative gains (losses) (1) — (103) — 579 — Total realized and unrealized gains (losses) 7 (103) — 579 — Other comprehensive income (loss) (4) — — — — Purchases (2) 21 11 — (115) — Sales (3) (14) (21) — 21 — Settlements (4) — — — — — Activity related to consolidated VIEs/VOEs (3) — — — (1) Transfers into Level 3 (5) — — — — — Transfers out of Level 3 (5) — — — — — Balance, September 30, 2020 $ 139 $ 2,818 $ — $ (12,204) $ (29) Balance, July 1, 2019 $ 134 $ 1,898 $ 25 $ (7,004) $ (25) Realized and unrealized gains (losses), included in Net income (loss) as: Investment gains (losses), net — — — — — Net derivative gains (losses) — 563 — (2,548) — Total realized and unrealized gains (losses) — 563 — (2,548) — Other comprehensive income (loss) — — — — — Purchases (2) 2 11 (5) (102) — Sales (3) (4) (20) (1) 13 — Settlements (4) — — (1) — — Activity related to consolidated VIEs/VOEs — — — — (1) Transfers into Level 3 (5) — — — — — Transfers out of Level 3 (5) (4) — (11) — — Balance, September 30, 2019 $ 128 $ 2,452 $ 7 $ (9,641) $ (26) _____________ (1) The Company’s nonperformance risk impact of ($464) million for the GMxB derivative features liability and ($8) million for the GMIB reinsurance contract asset the three months ended September 2020, respectively, is recorded through Net derivative gains (losses). (2) For the GMIB reinsurance contract asset, and GMxB derivative features liability, represents attributed fee. (3) For the GMIB reinsurance contract asset, represents recoveries from reinsurers and for GMxB derivative features liability represents benefits paid. (4) For contingent payment arrangements, it represents payments settled under the arrangement related to AB acquisitions. (5) Transfers into/out of the Level 3 classification are reflected at beginning-of-period fair values. Other Equity Investments GMIB Reinsurance Contract Asset Separate Accounts Assets GMxB Derivative Features Liability Contingent Payment Arrangement (in millions) Balance, January 1, 2020 $ 150 $ 2,139 $ — $ (8,502) $ (23) Realized and unrealized gains (losses), included in Net income (loss) as: Investment gains (losses), net 14 — — — — Net derivative gains (losses) (1) — 736 — (3,421) — Total realized and unrealized gains (losses) 14 736 — (3,421) — Other comprehensive income (loss) (21) — — — — Purchases (2) 25 33 — (335) (4) Sales (3) (26) (58) — 54 — Settlements (4) — — — — — Change in estimate (5) — (32) — — — Activity related to consolidated VIEs/VOEs (4) — — — (2) Transfers into Level 3 (6) 1 — — — — Transfers out of Level 3 (6) — — — — — Balance, September 30, 2020 $ 139 $ 2,818 $ — $ (12,204) $ (29) Balance, January 1, 2019 $ 165 $ 1,734 $ 21 $ (5,674) $ (7) Realized and unrealized gains (losses), included in Net income (loss) as: Investment gains (losses), net — — — — — Net derivative gains (losses) — 740 — (3,677) — Total realized and unrealized gains (losses) — 740 — (3,677) — Other comprehensive income (loss) — — — — — Purchases (2) 10 33 3 (317) (17) Sales (3) (11) (55) (1) 27 — Settlements (4) — — (4) — — Change in estimate — — — — — Activity related to consolidated VIEs/VOEs (3) — — — (2) Transfers into Level 3 (6) — — — — — Transfers out of Level 3 (6) (33) — (12) — — Balance, September 30, 2019 $ 128 $ 2,452 $ 7 $ (9,641) $ (26) ______________ (1) The Company’s nonperformance risk impact of $42 million for the GMxB derivative features liability and ($33) million for the GMIB reinsurance contract asset the nine months ended September 2020, respectively, is recorded through Net derivative gains (losses). (2) For the GMIB reinsurance contract asset, and GMxB derivative features liability, represents attributed fee. (3) For the GMIB reinsurance contract asset, represents recoveries from reinsurers and for GMxB derivative features liability represents benefits paid. (4) For contingent payment arrangements, it represents payments under the arrangement. (5) For the GMIB reinsurance contract asset, represents a transfer from amounts due from reinsurers. (6) Transfers into/out of the Level 3 classification are reflected at beginning-of-period fair values. The table below details changes in unrealized gains (losses) for the nine months ended September 30, 2020 and 2019 by category for Level 3 assets and liabilities still held at September 30, 2020 and 2019, respectively. Change in Unrealized Gains (Losses) for Level 3 Instruments Net Income (Loss) Investment Gains (Losses), Net Net Derivative Gains (Losses) OCI (in millions) Held at September 30, 2020: Change in unrealized gains (losses): Fixed maturities, AFS Corporate $ — $ — $ (37) State and political subdivisions — — 2 Asset-backed — — — Total fixed maturities, AFS — — (35) GMIB reinsurance contracts — 2,818 — Separate Account assets — GMxB derivative features liability — (12,204) — Total $ — $ (9,386) $ (35) Held at September 30, 2019: Change in unrealized gains (losses): Fixed maturities, AFS Corporate $ — $ — $ 3 State and political subdivisions — — 3 Asset-backed — — 4 Total fixed maturities, AFS — — 10 GMIB reinsurance contracts — 740 — Separate Account assets (1) — — GMxB derivative features liability — (3,677) — Total $ (1) $ (2,937) $ 10
Quantitative Information About Level 3 Fair Value Measurement		The following tables disclose quantitative information about Level 3 fair value measurements by category for assets and liabilities at September 30, 2020 and December 31, 2019, respectively. Quantitative Information about Level 3 Fair Value Measurements at September 30, 2020 Fair Value Valuation Technique Significant Unobservable Input Range Weighted Average (2) (in millions) Assets: Investments: Fixed maturities, AFS: Corporate $ 31 Matrix pricing model Spread over Benchmark 220 - 610 bps 278 bps 1,105 Market comparable EBITDA multiples 3.5x-31.8x 14.4x Other equity investments 4 Market comparable companies Revenue multiple 3.5x - 27.9x 9.5x 37 Discounted Cash Flow Earnings multiple 8.0x Fair Value Valuation Technique Significant Unobservable Input Range Weighted Average (2) GMIB reinsurance contract asset 2,818 Discounted cash flow Non-performance risk 60 - 125 bps 72 bps Liabilities: GMIBNLG 11,682 Discounted cash flow Non-performance risk 141.0 bps Assumed GMIB Reinsurance Contracts 219 Discounted cash flow Non-performance risk 92 - 195 bps 147 bps GWBL/GMWB 220 Discounted cash flow Non-performance risk 141.0 bps GIB 77 Discounted cash flow Non-performance risk 141.0 bps GMAB 6 Discounted cash flow Non-performance risk ______________ (1) Mortality rates vary by age and demographic characteristic such as gender. Mortality rate assumptions are based on a combination of company and industry experience. A mortality improvement assumption is also applied. For any given contract, mortality rates vary throughout the period over which cash flows are projected for purposes of valuating the embedded derivatives. (2) For Lapses, Withdrawals, and Utilizations the rates were weighted by counts; for Mortality weighted average rates are shown for all ages combined; and for Withdrawals the weighted averages were based on an estimated split of partial withdrawal and dollar-for-dollar withdrawals. Quantitative Information about Level 3 Fair Value Measurements at December 31, 2019 Fair Valuation Significant Range Weighted Average (in millions) Assets: Investments: Fixed maturities, AFS: Corporate $ 57 Matrix pricing model Spread over benchmark 65 - 580 bps 184 bps 1,025 Market comparable companies EBITDA multiples 3.3x - 56.7x 14.3x Other equity investments 36 Discounted cash flow Earnings multiple 8.0x Fair Valuation Significant Range Weighted Average GMIB reinsurance contract asset 2,139 Discounted cash flow Non-performance risk 55 - 109 bps Liabilities: GMIBNLG 8,135 Discounted cash flow Non-performance risk 124 bps Assumed GMIB Reinsurance Contracts 186 Discounted cash flow Non-performance risk 61 - 141 bps GWBL/GMWB 172 Discounted cash flow Non-performance risk 124 bps GIB 5 Discounted cash flow Non-performance risk 124 bps GMAB 4 Discounted cash flow Lapse rates 1.0% - 10.0% ______________ (1) Mortality rates vary by age and demographic characteristic such as gender. Mortality rate assumptions are based on a combination of company and industry experience. A mortality improvement assumption is also applied. For any given contract, mortality rates vary throughout the period over which cash flows are projected for purposes of valuating the embedded derivatives.
Fair Value Disclosure Financial Instruments Not Carried At Fair Value		The carrying values and fair values at September 30, 2020 and December 31, 2019 for financial instruments not otherwise disclosed in Note 3 and Note 4 are presented in the table below. Carrying Values and Fair Values for Financial Instruments Not Otherwise Disclosed Carrying Fair Value Level 1 Level 2 Level 3 Total (in millions) September 30, 2020: Mortgage loans on real estate $ 12,802 $ — $ — $ 13,049 $ 13,049 Policy loans $ 4,123 $ — $ — $ 5,232 $ 5,232 Policyholders’ liabilities: Investment contracts $ 2,195 $ — $ — $ 2,425 $ 2,425 FHLB funding agreements (1) $ 6,848 $ — $ 6,940 $ — $ 6,940 FABN funding agreements (2) $ 1,143 $ — $ 1,168 $ — $ 1,168 Short-term and long-term debt $ 4,114 $ — $ 4,750 $ — $ 4,750 Separate Accounts liabilities $ 9,000 $ — $ — $ 9,000 $ 9,000 December 31, 2019: Mortgage loans on real estate $ 12,107 $ — $ — $ 12,334 $ 12,334 Policy loans (3) $ 3,735 $ — $ — $ 4,707 $ 4,707 Policyholders’ liabilities: Investment contracts (3) $ 2,056 $ — $ — $ 2,167 $ 2,167 FHLB funding agreements (1) $ 6,909 $ — $ 6,957 $ — $ 6,957 Short-term and long-term debt $ 4,111 $ — $ 4,476 $ — $ 4,476 Separate Accounts liabilities $ 9,041 $ — $ — $ 9,041 $ 9,041 _____________ (1) Federal Home Loan Bank of New York (“FHLB”) (2) Funding Agreement Backed Notes Program (“FABN”) (3) Excludes amounts reclassified as Held-for-Sale.

EMPLOYEE BENEFIT PLANS (Tables)

EMPLOYEE BENEFIT PLANS (Tables)	9 Months Ended
	Sep. 30, 2020
Retirement Benefits [Abstract]
Components of certain benefit costs	Components of net periodic pension expense for the Company’s plans were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (in millions) Service cost $ 3 $ 2 $ 7 $ 8 Interest cost 23 30 68 91 Expected return on assets (36) (37) (110) (114) Actuarial (gain) loss — — 1 1 Net amortization 27 26 82 74 Impact of Settlement 4 — 4 — Net periodic pension expense $ 21 $ 21 $ 52 $ 60

EQUITY (Tables)

EQUITY (Tables)	9 Months Ended
	Sep. 30, 2020
Equity [Abstract]
Schedule of Stock by Class	Preferred stock authorized, issued and outstanding was as follows: September 30, 2020 December 31, 2019 Series Shares Authorized Shares Shares Outstanding Shares Authorized Shares Shares Outstanding Series A (1) 32,000 32,000 32,000 32,000 32,000 32,000 Series B (2) 20,000 20,000 20,000 — — — Total 52,000 52,000 52,000 32,000 32,000 32,000
Dividends Declared	Dividends declared per share were as follows for the periods indicated: Three Months Ended September 30, Nine months ended September 30, 2020 2019 2020 2019 Series A dividends declared $ 328.13 $ — $ 1,049.99 $ — Series B dividends declared $ — $ — $ — $ — Dividends declared per share of common stock were as follows for the periods indicated: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Dividends declared $ 0.17 $ 0.15 $ 0.49 $ 0.43
Schedule of Accumulated Other Comprehensive Income (Loss)	AOCI represents cumulative gains (losses) on items that are not reflected in Net income (loss). The balances as of September 30, 2020 and 2019 follow: September 30, 2020 2019 (in millions) Unrealized gains (losses) on investments $ 5,115 $ 2,459 Defined benefit pension plans (912) (883) Foreign currency translation adjustments (56) (74) Total accumulated other comprehensive income (loss) 4,148 1,502 Less: Accumulated other comprehensive income (loss) attributable to noncontrolling interest (40) (44) Accumulated other comprehensive income (loss) attributable to Holdings $ 4,188 $ 1,546
Components of Accumulated Other Comprehensive Income (Loss), Net of Taxes	The components of OCI, net of taxes for the three and nine months ended September 30, 2020 and 2019 follow: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (in millions) Change in net unrealized gains (losses) on investments: Net unrealized gains (losses) arising during the period $ 309 $ 1,279 $ 4,675 $ 4,002 (Gains) losses reclassified into net income (loss) during the period (1) (26) (158) (225) (153) Net unrealized gains (losses) on investments 283 1,121 4,450 3,849 Adjustments for policyholders’ liabilities, DAC, insurance liability loss recognition and other (54) (375) (1,177) (975) Change in unrealized gains (losses), net of adjustments (net of deferred income tax expense (benefit) of $61, $198, $870 and $759) 229 746 3,273 2,874 Change in defined benefit plans: Reclassification to Net income (loss) of amortization of net prior service credit included in net periodic cost 21 18 71 85 Change in defined benefit plans (net of deferred income tax expense (benefit) of $6, $7, $19 and $25) 21 18 71 85 Foreign currency translation adjustments: Foreign currency translation gains (losses) arising during the period 16 (12) 1 (12) Foreign currency translation adjustment 16 (12) 1 (12) Total other comprehensive income (loss), net of income taxes 266 752 3,345 2,947 Less: Other comprehensive income (loss) attributable to noncontrolling interest 6 (5) 1 (7) Other comprehensive income (loss) attributable to Holdings $ 260 $ 757 $ 3,344 $ 2,954 _______________ (1) See “Reclassification adjustments” in Note 3. Reclassification amounts presented net of income tax expense (benefit) of $(7) million, $(42) million, $(60) million, and $(41) million for the three and nine months ended September 30, 2020 and 2019, respectively

REDEEMABLE NONCONTROLLING INT_2

REDEEMABLE NONCONTROLLING INTEREST (Tables)	9 Months Ended
	Sep. 30, 2020
Noncontrolling Interest [Abstract]
Redeemable Noncontrolling Interest	The changes in the components of redeemable noncontrolling interests are presented in the table that follows: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (in millions) Balance, beginning of period $ 87 $ 257 $ 365 $ 187 Net earnings (loss) attributable to redeemable noncontrolling interests 1 7 (4) 26 Purchase/change of redeemable noncontrolling interests 7 74 (266) 125 Balance, end of period $ 95 $ 338 $ 95 $ 338

COMMITMENTS AND CONTINGENT LI_2

COMMITMENTS AND CONTINGENT LIABILITIES (Tables)	9 Months Ended
	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Activity of Funding Agreements	Change in FHLB Funding Agreements during the Nine Months Ended September 30, 2020 Outstanding Balance at December 31, 2019 Issued During the Period Repaid During the Period Long-term Agreements Maturing Within One Year Long-term Agreements Maturing Within Five Years Outstanding Balance at September 30, 2020 (in millions) Short-term funding agreements: Due in one year or less $ 4,608 $ 34,298 $ 34,358 $ 490 $ — $ 5,038 Long-term funding agreements: Due in years two through five 1,646 — — (490) 112 1,268 Due in more than five years 646 — — — (112) 534 Total long-term funding agreements 2,292 — — (490) — 1,802 Total funding agreements (1) $ 6,900 $ 34,298 $ 34,358 $ — $ — $ 6,840 _____________ (1) The $8 million and $9 million difference between the funding agreements carrying value shown in fair value table for September 30, 2020 and December 31, 2019, respectively, reflects the remaining amortization of a hedge implemented and closed, which locked in the funding agreements borrowing rates. Change in FABN Funding Agreements during the Nine Months Ended September 30, 2020 Outstanding Balance at December 31, 2019 Issued During the Period Repaid During the Period Long-term agreements maturing within one year Long-term Agreements Maturing Within Five Years Outstanding Balance at September 30, 2020 (in millions) Short-term funding agreements: Due in one year or less — $ — $ — $ — $ — $ — Long-term funding agreements: Due in years two through five — 650 — — — 650 Due in more than five years — 500 — — — 500 Total long-term funding agreements — 1,150 — — — 1,150 Total funding agreements (1) $ — $ 1,150 $ — $ — $ — $ 1,150 _____________

BUSINESS SEGMENT INFORMATION (T

BUSINESS SEGMENT INFORMATION (Tables)	9 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The table below presents Operating earnings (loss) by segment and Corporate and Other and a reconciliation to Net income (loss) attributable to Holdings for the three and nine months ended September 30, 2020 and 2019, respectively: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (in millions) Net income (loss) attributable to Holdings $ (779) $ (374) $ 590 $ (818) Adjustments related to: Variable annuity product features (1) 1,620 1,431 473 3,167 Investment (gains) losses (17) (199) (190) (176) Net actuarial (gains) losses related to pension and other postretirement benefit obligations 31 24 86 72 Other adjustments (2) (3) 66 73 836 200 Income tax expense (benefit) related to above adjustments (4) (357) (278) (253) (685) Non-recurring tax items 4 (4) 12 (56) Non-GAAP Operating Earnings $ 568 $ 673 $ 1,554 $ 1,704 Operating earnings (loss) by segment: Individual Retirement $ 371 $ 465 $ 1,094 $ 1,206 Group Retirement $ 129 $ 105 $ 325 $ 281 Investment Management and Research $ 104 $ 93 $ 291 $ 250 Protection Solutions $ 51 $ 100 $ 88 $ 207 Corporate and Other (5) $ (87) $ (90) $ (244) $ (240) ______________ (1) Includes COVID-19 impact on Variable annuity product features due to a first quarter 2020 assumption update of $1.5 billion and other COVID-19 related impacts of $35 million for the nine months ended September 30, 2020. (2) Includes COVID-19 impact on Other adjustments due to a first quarter 2020 assumption update of $1,049 million and other COVID-19 related impacts of $86 million for the nine months ended September 30, 2020. (3) Include separation costs of $37 million, $39 million,$108 million and $121 million for the three and nine months ended September 30, 2020 and 2019, respectively. (4) Includes income taxes of $554 million for the above COVID-19 items for the nine months ended September 30, 2020. (5) Includes interest expense and financing fees of $56 million, $59 million, $164 million and $170 million for the three and nine months ended September 30, 2020 and 2019, respectively. Segment revenues is a measure of the Company’s revenue by segment as adjusted to exclude certain items. The following table reconciles segment revenues to total revenues by excluding the following items: • Items related to variable annuity product features, which include certain changes in the fair value of the derivatives and other securities we use to hedge these features and changes in the fair value of the embedded derivatives reflected within the net derivative results of variable annuity product features; • Investment (gains) losses, which includes credit loss impairments of securities/investments, sales or disposals of securities/investments, realized capital gains/losses and valuation allowances; • Other adjustments, which includes investment income (loss) from certain derivative instruments, excluding derivative instruments used to hedge risks associated with interest margins on interest sensitive life and annuity contracts and freestanding and embedded derivatives associated with products with GMxB features. The table below presents segment revenues for the three and nine months ended September 30, 2020 and 2019. Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (in millions) Segment revenues: Individual Retirement (1) $ 1,079 $ 1,181 $ 3,352 $ 3,253 Group Retirement (1) 301 273 829 791 Investment Management and Research (2) 899 872 2,650 2,500 Protection Solutions (1) 751 855 2,344 2,524 Corporate and Other (1) 300 302 881 914 Adjustments related to: Variable annuity product features (1,512) (608) 1,160 (2,244) Investment gains (losses), net 17 199 190 176 Other adjustments to segment revenues (3) 5 4 493 29 Total revenues $ 1,840 $ 3,078 $ 11,899 $ 7,943 ______________ (1) Includes investment expenses charged by AB of $17 million, $18 million, $51 million and $57 million for the three and nine months ended September 30, 2020 and 2019, respectively, for services provided to the Company. (2) Inter-segment investment management and other fees of $28 million, $26 million, $82 million and $77 million for the three and nine months ended September 30, 2020 and 2019, respectively, are included in segment revenues of the Investment Management and Research segment. (3) Includes COVID-19 impact on other adjustments due to an assumption update of $46 million and other COVID-19 related impacts of $(30) million for the nine months ended September 30, 2020. The table below presents total assets by segment as of September 30, 2020 and December 31, 2019: September 30, 2020 December 31, 2019 (in millions) Total assets by segment: Individual Retirement $ 129,265 $ 123,627 Group Retirement 47,745 43,590 Investment Management and Research 10,736 10,170 Protection Solutions 47,166 46,832 Corporate and Other 27,584 25,599 Total assets $ 262,496 $ 249,818

EARNINGS PER COMMON SHARE (Tabl

EARNINGS PER COMMON SHARE (Tables)	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table presents a reconciliation of Net income (loss) and Weighted-average common shares used in calculating basic and diluted Earnings per common share for the periods indicated: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (in millions) Weighted-average common shares outstanding: Weighted-average common shares outstanding — basic 447.5 490.4 453.0 499.8 Effect of dilutive potential common shares: Employee share awards (1) — — 1.1 — Weighted-average common shares outstanding — diluted (2) (3) 447.5 490.4 454.1 499.8 Net income (loss): Net income (loss) (705) $ (306) $ 787 $ (617) Less: Net income (loss) attributable to the noncontrolling interest 74 68 197 201 Net income (loss) attributable to Holdings (779) (374) 590 (818) Less: Preferred stock dividends 11 — 34 — Net income (loss) available to Holdings’ common shareholders $ (790) $ (374) $ 556 $ (818) Earnings per common share: Basic $ (1.77) $ (0.76) $ 1.23 $ (1.64) Diluted $ (1.77) $ (0.76) $ 1.22 $ (1.64) _____________ (1) Calculated using the treasury stock method. (2) Due to net loss for the three months ended September 30, 2020 and three and nine months ended September 30, 2019 , approximately 1.5 million, 1.0 million and 0.8 million more shares, respectively, were excluded from the diluted earnings per common share calculation than would have been excluded as being anti-dilutive under the treasury stock method. (3) Weighted-average common shares outstanding - diluted may not foot precisely due to rounding.

REVISION OF PRIOR PERIOD FINA_2

REVISION OF PRIOR PERIOD FINANCIAL STATEMENTS (Tables)	9 Months Ended
	Sep. 30, 2020
Accounting Changes and Error Corrections [Abstract]
Schedule of Error Corrections and Prior Period Adjustments	The following tables present line items for prior period financial statements that have been affected by the revision. For these line items, the tables detail the amounts as previously reported, the impact upon those line items due to the revision, and the amounts as currently revised within the financial statements June 30, 2020 March 31, 2020 As Previously Impact of Revisions As Revised As Previously Impact of Revisions As Revised (in millions) Consolidated Balance Sheet: ASSETS Other invested assets 2,280 — 2,280 2,112 12 2,124 Deferred policy acquisition costs 4,182 (92) 4,090 4,809 (112) 4,697 Total Assets $ 254,110 $ (92) $ 254,018 $ 240,781 $ (100) $ 240,681 LIABILITIES Future policy benefits and other policyholders’ liabilities 41,476 30 41,506 37,968 33 38,001 Current and deferred income taxes 1,848 (26) 1,822 2,355 (28) 2,327 Total Liabilities $ 234,889 $ 4 $ 234,893 $ 218,884 $ 5 $ 218,889 EQUITY Retained earnings 12,995 (96) 12,899 17,112 (105) 17,007 Total equity attributable to Holdings 17,594 (96) 17,498 20,086 (105) 19,981 Total Equity 19,134 (96) 19,038 21,640 (105) 21,535 Total Liabilities, Redeemable Noncontrolling Interest and Equity $ 254,110 $ (92) $ 254,018 $ 240,781 $ (100) $ 240,681 December 31, 2019 December 31, 2018 As Previously Impact of Revisions As Revised As Previously Impact of Revisions As Revised (in millions) Consolidated Balance Sheet: ASSETS Deferred policy acquisition costs 5,890 (53) 5,837 6,745 (40) 6,705 GMIB reinsurance contract asset, at fair value 2,139 — 2,139 1,732 2 1,734 Other assets 3,799 1 3,800 3,127 20 3,147 Total Assets $ 249,870 $ (52) $ 249,818 $ 220,797 $ (18) $ 220,779 LIABILITIES Future policy benefits and other policyholders’ liabilities 34,587 48 34,635 30,998 79 31,077 Current and deferred income taxes 549 (21) 528 68 (33) 35 Total Liabilities $ 234,379 $ 27 $ 234,406 $ 205,178 $ 46 $ 205,224 EQUITY Retained earnings 11,827 (83) 11,744 13,989 (52) 13,937 Accumulated other comprehensive income (loss) 840 4 844 (1,396) (12) (1,408) Total equity attributable to Holdings 13,535 (79) 13,456 13,866 (64) 13,802 Total Equity 15,126 (79) 15,047 15,432 (64) 15,368 Total Liabilities, Redeemable Noncontrolling Interest and Equity $ 249,870 $ (52) $ 249,818 $ 220,797 $ (18) $ 220,779 Three Months Ended June 30, 2020 Six Months Ended June 30, 2020 As Previously Impact of Revisions As Revised As Previously Impact of Revisions As Revised (in millions) Consolidated Statements of Income (Loss) REVENUES Policy charges and fee income $ 879 $ (2) $ 877 $ 1,870 $ 3 $ 1,873 Net derivative gains (losses) (6,033) (5) (6,038) 3,368 (6) 3,362 Net investment income (loss) 1,035 (13) 1,022 1,651 — 1,651 Other Income 124 — 124 280 (1) 279 Total revenues (2,530) (20) (2,550) 10,063 (4) 10,059 BENEFITS AND OTHER DEDUCTIONS Policyholders' benefits 746 (10) 736 3,534 (22) 3,512 Amortization of deferred policy acquisition costs 183 (21) 162 1,431 34 1,465 Other operating costs and expenses 434 — 434 871 1 872 Total benefits and other deductions 2,489 (31) 2,458 8,195 13 8,208 Income (loss) from continuing operations, before income taxes (5,019) 11 (5,008) 1,868 (17) 1,851 Income tax (expense) benefit 1,077 (2) 1,075 (363) 4 (359) Net income (loss) (3,942) 9 (3,933) 1,505 (13) 1,492 Net income (loss) attributable to Holdings $ (4,028) $ 9 $ (4,019) $ 1,382 $ (13) $ 1,369 EARNINGS PER COMMON SHARE Basic $ (8.96) $ 0.02 $ (8.94) $ 2.98 $ (0.03) $ 2.95 Diluted $ (8.96) $ 0.02 $ (8.94) $ 2.97 $ (0.03) $ 2.94 Three Months Ended March 31, 2020 As Previously Impact of Revisions As Revised (in millions) Consolidated Statements of Income (Loss) REVENUES Policy charges and fee income $ 991 $ 5 $ 996 Net derivative gains (losses) 9,401 (1) 9,400 Net investment income (loss) 616 13 629 Other Income 156 (1) 155 Total revenues 12,593 16 12,609 BENEFITS AND OTHER DEDUCTIONS Policyholders' benefits 2,788 (12) 2,776 Amortization of deferred policy acquisition costs 1,248 55 1,303 Other operating costs and expenses 437 1 438 Total benefits and other deductions 5,706 44 5,750 Income (loss) from continuing operations, before income taxes 6,887 (28) 6,859 Income tax (expense) benefit (1,440) 6 (1,434) Net income (loss) 5,447 (22) 5,425 Net income (loss) attributable to Holdings $ 5,410 $ (22) $ 5,388 EARNINGS PER COMMON SHARE Basic $ 11.71 $ (0.05) $ 11.66 Diluted $ 11.65 $ (0.05) $ 11.60 Year Ended December 31, 2019 Year Ended December 31, 2018 As Previously Impact of Revisions As Revised As Previously Impact of Revisions As Revised (in millions) Consolidated Statements of Income (Loss) REVENUES Policy charges and fee income $ 3,738 $ 40 $ 3,778 $ 3,824 $ 10 $ 3,834 Net derivative gains (losses) (4,000) (12) (4,012) (231) (19) (250) Total revenues 9,591 28 9,619 12,078 (9) 12,069 BENEFITS AND OTHER DEDUCTIONS Policyholders' benefits 4,370 15 4,385 2,915 (59) 2,856 Interest credited to policyholders' account balances 1,241 22 1,263 1,090 (23) 1,067 Commissions and distribution related payments 1,242 — 1,242 1,160 5 1,165 Amortization of deferred policy acquisition costs 579 18 597 333 38 371 Other operating costs and expenses 1,892 (2) 1,890 1,809 1 1,810 Total benefits and other deductions 11,626 53 11,679 9,617 (38) 9,579 Income (loss) from continuing operations, before income taxes (2,035) (25) (2,060) 2,461 29 2,490 Income tax (expense) benefit 599 (6) 593 (307) 6 (301) Net income (loss) (1,436) (31) (1,467) 2,154 35 2,189 Net income (loss) attributable to Holdings $ (1,733) $ (31) $ (1,764) $ 1,820 $ 35 $ 1,855 EARNINGS PER COMMON SHARE Basic $ (3.51) $ (0.06) $ (3.57) $ 3.27 $ 0.06 $ 3.33 Diluted $ (3.51) $ (0.06) $ (3.57) $ 3.27 $ 0.06 $ 3.33 Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 As Previously Impact of Revisions As Revised As Previously Impact of Revisions As Revised (in millions) Consolidated Statements of Income (Loss) REVENUES Policy charges and fee income $ 929 $ 51 $ 980 $ 2,801 $ 46 $ 2,847 Net derivative gains (losses) (451) (2) (453) (2,317) (6) (2,323) Other Income 142 1 143 408 1 409 Total revenues 3,028 50 3,078 7,902 41 7,943 BENEFITS AND OTHER DEDUCTIONS Policyholders' benefits 1,757 (22) 1,735 3,533 18 3,551 Interest credited to policyholders' account balances 304 16 320 922 22 944 Amortization of deferred policy acquisition costs 85 43 128 460 29 489 Total benefits and other deductions 3,468 37 3,505 8,825 69 8,894 Income (loss) from continuing operations, before income taxes (440) 13 (427) (923) (28) (951) Income tax (expense) benefit 124 (3) 121 328 6 334 Net income (loss) (316) 10 (306) (595) (22) (617) Net income (loss) attributable to Holdings $ (384) $ 10 $ (374) $ (796) $ (22) $ (818) EARNINGS PER COMMON SHARE Basic $ (0.78) $ 0.02 $ (0.76) $ (1.59) $ (0.05) $ (1.64) Diluted $ (0.78) $ 0.02 $ (0.76) $ (1.59) $ (0.05) $ (1.64) Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 As Previously Impact of Revisions As Revised As Previously Impact of Revisions As Revised (in millions) Consolidated Statements of Income (Loss) REVENUES Policy charges and fee income $ 941 $ (3) $ 938 $ 1,872 $ (5) $ 1,867 Net derivative gains (losses) (236) (1) (237) (1,866) (4) (1,870) Total revenues 3,160 (4) 3,156 4,874 (9) 4,865 BENEFITS AND OTHER DEDUCTIONS Policyholders' benefits 896 (1) 895 1,776 40 1,816 Interest credited to policyholders' account balances 314 3 317 618 6 624 Amortization of deferred policy acquisition costs 177 (2) 175 375 (14) 361 Other operating costs and expenses 456 (1) 455 866 — 866 Total benefits and other deductions 2,719 (1) 2,718 5,357 32 5,389 Income (loss) from continuing operations, before income taxes 441 (3) 438 (483) (41) (524) Income tax (expense) benefit (11) 1 (10) 204 9 213 Net income (loss) 430 (2) 428 (279) (32) (311) Net income (loss) attributable to Holdings $ 363 $ (2) $ 361 $ (412) $ (32) $ (444) EARNINGS PER COMMON SHARE Basic $ 0.74 $ — $ 0.74 $ (0.82) $ (0.06) $ (0.88) Diluted $ 0.74 $ (0.01) $ 0.73 $ (0.82) $ (0.06) $ (0.88) Three Months Ended March 31, 2019 As Previously Impact of Revisions As Revised (in millions) Consolidated Statements of Income (Loss) REVENUES Policy charges and fee income $ 931 $ (2) $ 929 Net derivative gains (losses) (1,630) (3) (1,633) Total revenues 1,714 (5) 1,709 BENEFITS AND OTHER DEDUCTIONS Policyholders' benefits 880 41 921 Interest credited to policyholders' account balances 304 3 307 Amortization of deferred policy acquisition costs 198 (12) 186 Other operating costs and expenses 410 1 411 Total benefits and other deductions 2,638 33 2,671 Income (loss) from continuing operations, before income taxes (924) (38) (962) Income tax (expense) benefit 215 8 223 Net income (loss) (709) (30) (739) Net income (loss) attributable to Holdings $ (775) $ (30) $ (805) EARNINGS PER COMMON SHARE Basic $ (1.50) $ (0.05) $ (1.55) Diluted $ (1.50) $ (0.05) $ (1.55) Year Ended December 31, 2017 As Previously Impact of Revisions As Revised (in millions) Consolidated Statement of Income (Loss): REVENUES Policy charges and fee income $ 3,693 $ (7) $ 3,686 Net derivative gains (losses) 214 (23) 191 Total revenues $ 12,460 $ (30) $ 12,430 BENEFITS AND OTHER DEDUCTIONS Policyholders' benefits 4,366 14 4,380 Commissions and distribution related payments 1,081 7 1,088 Amortization of deferred policy acquisition costs 503 12 515 Total benefits and other deductions 11,154 33 11,187 Income (loss) from continuing operations, before income taxes 1,306 (63) 1,243 Income tax (expense) benefit (49) 7 (42) Net income (loss) 1,257 (56) 1,201 Net income (loss) attributable to Holdings 834 (56) 778 Net income (loss) available to Holdings’ common shareholders $ 834 $ (56) $ 778 EARNINGS PER COMMON SHARE Basic $ 1.49 $ (0.10) $ 1.39 Diluted $ 1.48 $ (0.09) $ 1.39 Three Months Ended June 30, 2020 Six Months Ended June 30, 2020 As Previously Impact of Revisions As Revised As Previously Impact of Revisions As Revised (in millions) Consolidated Statements of Comprehensive Income (Loss) Net income (loss) $ (3,942) $ 9 $ (3,933) $ 1,505 $ (13) $ 1,492 Other comprehensive income 1,642 — 1,642 3,083 (4) 3,079 Comprehensive income (loss) (2,300) 9 (2,291) 4,588 (17) 4,571 Comprehensive income (loss) attributable to Holdings $ (2,389) $ 9 $ (2,380) $ 4,470 $ (17) $ 4,453 Three Months Ended March 31, 2020 As Previously Impact of Revisions As Revised (in millions) Consolidated Statements of Comprehensive Income (Loss) Net income (loss) $ 5,447 $ (22) $ 5,425 Change in unrealized gains (losses), net of reclassification adjustment 1,434 (4) 1,430 Other comprehensive income 1,441 (4) 1,437 Comprehensive income (loss) 6,888 (26) 6,862 Comprehensive income (loss) attributable to Holdings $ 6,859 $ (26) $ 6,833 Year Ended December 31, 2019 Year Ended December 31, 2018 As Previously Impact of Revisions As Revised As Previously Impact of Revisions As Revised (in millions) Consolidated Statements of Comprehensive Income (Loss) Net income (loss) $ (1,436) $ (31) $ (1,467) $ 2,154 $ 35 $ 2,189 Foreign currency translation adjustment 5 — 5 (37) 5 (32) Change in unrealized gains (losses), net of reclassification adjustment 2,242 16 2,258 (1,329) 3 (1,326) Other comprehensive income 2,232 16 2,248 (1,177) 8 (1,169) Comprehensive income (loss) 796 (15) 781 977 43 1,020 Comprehensive income (loss) attributable to Holdings $ 503 $ (15) $ 488 $ 628 $ 43 $ 671 Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 As Previously Impact of Revisions As Revised As Previously Impact of Revisions As Revised (in millions) Consolidated Statements of Comprehensive Income (Loss) Net income (loss) $ (316) $ 10 $ (306) $ (595) $ (22) $ (617) Change in unrealized gains (losses), net of reclassification adjustment 581 165 746 2,784 90 2,874 Other comprehensive income 587 165 752 2,857 90 2,947 Comprehensive income (loss) 271 175 446 2,262 68 2,330 Comprehensive income (loss) attributable to Holdings $ 208 $ 175 $ 383 $ 2,068 $ 68 $ 2,136 Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 As Previously Impact of Revisions As Revised As Previously Impact of Revisions As Revised (in millions) Consolidated Statements of Comprehensive Income (Loss) Net income (loss) $ 430 $ (2) $ 428 $ (279) $ (32) $ (311) Change in unrealized gains (losses), net of reclassification adjustment 1,369 (77) 1,292 2,203 (75) 2,128 Other comprehensive income 1,388 (77) 1,311 2,270 (75) 2,195 Comprehensive income (loss) 1,818 (79) 1,739 1,991 (107) 1,884 Comprehensive income (loss) attributable to Holdings $ 1,752 $ (79) $ 1,673 $ 1,860 $ (107) $ 1,753 Three Months Ended March 31, 2019 As Previously Impact of Revisions As Revised (in millions) Consolidated Statements of Comprehensive Income (Loss) Net income (loss) $ (709) $ (30) $ (739) Change in unrealized gains (losses), net of reclassification adjustment 834 2 836 Other comprehensive income 882 2 884 Comprehensive income (loss) 173 (28) 145 Comprehensive income (loss) attributable to Holdings $ 108 $ (28) $ 80 Year Ended December 31, 2017 As Previously Impact of Revisions As Revised (in millions) Consolidated Statements of Comprehensive Income: Net income (loss) $ 1,257 $ (56) $ 1,201 Foreign currency translation adjustment $ 42 $ (3) $ 39 Change in unrealized gains (losses), net of reclassification adjustment 690 (18) 672 Other comprehensive income 832 (21) 811 Comprehensive income (loss) 2,089 (77) 2,012 Comprehensive income (loss) attributable to Holdings 1,647 (77) 1,570 Three Months Ended June 30, 2020 Six Months Ended June 30, 2020 As Previously Impact of Revisions As Revised As Previously Impact of Revisions As Revised (in millions) Consolidated Statement of Equity: Retained earnings, beginning of year $ 17,112 $ (105) $ 17,007 $ 11,827 $ (83) $ 11,744 Net income (loss) attributable to Holdings (4,028) 9 (4,019) 1,382 (13) 1,369 Retained earnings, end of period $ 12,995 $ (96) $ 12,899 $ 12,995 $ (96) $ 12,899 Total Holdings’ equity, end of period $ 17,594 $ (96) $ 17,498 $ 17,594 $ (96) $ 17,498 Total equity, end of period $ 19,134 $ (96) $ 19,038 $ 19,134 $ (96) $ 19,038 Three Months Ended March 31, 2020 As Previously Impact of Revisions As Revised (in millions) Consolidated Statement of Equity: Retained earnings, beginning of year $ 11,827 $ (83) $ 11,744 Net income (loss) attributable to Holdings 5,410 (22) 5,388 Retained earnings, end of period $ 17,112 $ (105) $ 17,007 Total Holdings’ equity, end of period $ 20,086 $ (105) $ 19,981 Total equity, end of period $ 21,640 $ (105) $ 21,535 Year Ended December 31, 2019 Year Ended December 31, 2018 As Previously Impact of Revisions As Revised As Previously Impact of Revisions As Revised (in millions) Consolidated Statement of Equity: Retained earnings, beginning of year $ 13,989 $ (52) $ 13,937 $ 12,225 $ (87) $ 12,138 Net income (loss) attributable to Holdings (1,733) (31) (1,764) 1,820 35 1,855 Retained earnings, end of year $ 11,827 $ (83) $ 11,744 $ 13,989 $ (52) $ 13,937 Accumulated other comprehensive income (loss), beginning of year $ (1,396) $ (12) $ (1,408) $ (108) $ (20) $ (128) Other comprehensive income (loss) 2,236 16 2,252 (1,192) 8 (1,184) Accumulated other comprehensive income (loss), end of year $ 840 $ 4 $ 844 $ (1,396) $ (12) $ (1,408) Total Holdings’ equity, end of year $ 13,535 $ (79) $ 13,456 $ 13,866 $ (64) $ 13,802 Total equity, end of year $ 15,126 $ (79) $ 15,047 $ 15,432 $ (64) $ 15,368 Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 As Previously Impact of Revisions As Revised As Previously Impact of Revisions As Revised (in millions) Consolidated Statement of Equity: Retained earnings, beginning of year $ 13,293 $ (84) $ 13,209 $ 13,989 $ (52) $ 13,937 Net income (loss) attributable to Holdings (384) 10 (374) (796) (22) (818) Retained earnings, end of period $ 12,835 $ (74) $ 12,761 $ 12,835 $ (74) $ 12,761 Accumulated other comprehensive income (loss), beginning of year $ 876 $ (87) $ 789 $ (1,396) $ (12) $ (1,408) Other comprehensive income (loss) 592 165 757 2,864 90 2,954 Accumulated other comprehensive income (loss), end of period $ 1,468 $ 78 $ 1,546 $ 1,468 $ 78 $ 1,546 Total Holdings’ equity, end of period $ 14,936 $ 4 $ 14,940 $ 14,936 $ 4 $ 14,940 Total equity, end of period $ 16,478 $ 4 $ 16,482 $ 16,478 $ 4 $ 16,482 Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 As Previously Impact of Revisions As Revised As Previously Impact of Revisions As Revised (in millions) Consolidated Statement of Equity: Additional paid-in capital, beginning of year 1,881 1 1,882 1,908 — 1,908 Other (8) (1) (9) (16) — (16) Additional paid-in capital, end of period $ 1,901 $ — $ 1,901 $ 1,901 $ — $ 1,901 Retained earnings, beginning of year $ 13,004 $ (82) $ 12,922 $ 13,989 $ (52) $ 13,937 Net income (loss) attributable to Holdings 363 (2) 361 (412) (32) (444) Retained earnings, end of period $ 13,293 $ (84) $ 13,209 $ 13,293 $ (84) $ 13,209 Accumulated other comprehensive income (loss), beginning of year $ (513) $ (10) $ (523) $ (1,396) $ (12) $ (1,408) Other comprehensive income (loss) 1,389 (77) 1,312 2,272 (75) 2,197 Accumulated other comprehensive income (loss), end of period $ 876 $ (87) $ 789 $ 876 $ (87) $ 789 Total Holdings’ equity, end of period $ 14,843 $ (171) $ 14,672 $ 14,843 $ (171) $ 14,672 Total equity, end of period $ 16,388 $ (171) $ 16,217 $ 16,388 $ (171) $ 16,217 Three Months Ended March 31, 2019 As Previously Impact of Revisions As Revised (in millions) Consolidated Statement of Equity: Other (8) 1 (7) Additional paid-in capital, end of period $ 1,881 $ 1 $ 1,882 Retained earnings, beginning of year $ 13,989 $ (52) $ 13,937 Net income (loss) attributable to Holdings (775) (30) (805) Retained earnings, end of period $ 13,004 $ (82) $ 12,922 Accumulated other comprehensive income (loss), beginning of year $ (1,396) $ (12) $ (1,408) Other comprehensive income (loss) 883 2 885 Accumulated other comprehensive income (loss), end of period $ (513) $ (10) $ (523) Total Holdings’ equity, end of period $ 13,143 $ (91) $ 13,052 Total equity, end of period $ 14,682 $ (91) $ 14,591 Year Ended December 31, 2017 As Previously Reported Impact of Revisions As Revised (in millions) Consolidated Statements of Equity: Retained earnings, beginning of year $ 11,391 $ (31) $ 11,360 Net income (loss) attributable to Holdings 834 (56) 778 Retained earnings, end of period $ 12,225 $ (87) $ 12,138 Accumulated other comprehensive income (loss), beginning of year $ (921) $ 1 $ (920) Other comprehensive income (loss) 813 (21) 792 Accumulated other comprehensive income (loss), end of period $ (108) $ (20) $ (128) Total Holdings’ equity, end of period $ 13,421 $ (107) $ 13,314 Total equity, end of period $ 16,518 $ (107) $ 16,411 Six Months Ended June 30, 2020 Three Months Ended March 31, 2020 As Previously Impact of Revisions As Revised As Previously Impact of Revisions As Revised (in millions) Consolidated Statement of Cash Flows: Cash flows from operating activities: Net income (loss) $ 1,505 $ (13) $ 1,492 $ 5,447 $ (22) $ 5,425 Adjustments to reconcile Net income (loss) to Net cash provided by (used in) operating activities: Policy charges and fee income (1,870) (3) (1,873) (991) (5) (996) Net derivative (gains) losses (3,368) 6 (3,362) (9,401) 1 (9,400) Amortization and depreciation 1,506 34 1,540 1,275 55 1,330 Future policy benefits 1,828 (21) 1,807 1,936 (11) 1,925 Current and deferred income taxes 482 (4) 478 1,425 (5) 1,420 Other, net (329) 1 (328) (448) (1) (449) Net cash provided by (used in) operating activities $ (548) $ — $ (548) $ (582) $ 12 $ (570) Cash flows from financing activities: Policyholders’ account balances: Change in collateralized pledged assets 60 — 60 44 (1) 43 Change in collateralized pledged liabilities 239 — 239 657 (11) 646 Net cash provided by (used in) financing activities $ 2,891 $ — $ 2,891 $ (13) $ (12) $ (13) Cash and cash equivalents, end of period $ 8,364 $ — $ 8,364 $ 10,315 $ — $ 10,315 Year Ended December 31, 2019 Year Ended December 31, 2018 As Previously Impact of Revisions As Revised As Previously Impact of Revisions As Revised (in millions) Consolidated Statement of Cash Flows: Cash flows from operating activities: Net income (loss) $ (1,436) $ (31) $ (1,467) $ 2,154 $ 35 $ 2,189 Adjustments to reconcile Net income (loss) to Net cash provided by (used in) operating activities: Policy charges and fee income (3,738) (40) (3,778) (3,824) (10) (3,834) Interest credited to policyholders' account balances 1,241 22 1,263 1,090 (23) 1,067 Net derivative (gains) losses 4,000 12 4,012 231 19 250 Amortization and depreciation 657 18 675 257 39 296 Capitalization of DAC (754) — (754) (702) 5 (697) Future policy benefits 947 15 962 (399) (59) (458) Current and deferred income taxes (108) 6 (102) 633 (6) 627 Other, net (162) (2) (164) (222) — (222) Net cash provided by (used in) operating activities $ (216) $ — $ (216) $ 61 $ — $ 61 Cash and cash equivalents, end of year $ 4,405 $ — $ 4,405 $ 4,469 $ — $ 4,469 Nine Months Ended September 30, 2019 Six Months Ended June 30, 2019 As Previously Impact of Revisions As Revised As Previously Impact of Revisions As Revised (in millions) Consolidated Statement of Cash Flows: Cash flows from operating activities: Net income (loss) $ (595) $ (22) $ (617) $ (279) $ (32) $ (311) Adjustments to reconcile Net income (loss) to Net cash provided by (used in) operating activities: Policy charges and fee income (2,801) (46) (2,847) (1,872) 5 (1,867) Interest credited to policyholders' account balances 922 22 944 618 6 624 Net derivative (gains) losses 2,317 6 2,323 1,866 4 1,870 Amortization and depreciation 535 29 564 433 (13) 420 Changes in: Future policy benefits 925 18 943 1 40 41 Current and deferred income taxes 36 (6) 30 23 (9) 14 Other, net (86) (1) (87) (58) (1) (59) Net cash provided by (used in) operating activities $ (292) $ — $ (292) $ (425) $ — $ (425) Cash and cash equivalents, end of period $ 4,471 $ — $ 4,471 $ 4,734 $ — $ 4,734 Three Months Ended March 31, 2019 As Previously Impact of Revisions As Revised (in millions) Consolidated Statement of Cash Flows: Cash flows from operating activities: Net income (loss) $ (709) $ (30) $ (739) Adjustments to reconcile Net income (loss) to Net cash provided by (used in) operating activities: Policy charges and fee income (931) 2 (929) Interest credited to policyholders' account balances 304 3 307 Net derivative (gains) losses 1,630 3 1,633 Amortization and depreciation 239 (12) 227 Future policy benefits 22 42 64 Current and deferred income taxes 183 (8) 175 Net cash provided by (used in) operating activities $ (109) $ — $ (109) Cash and cash equivalents, end of period $ 5,129 $ — $ 5,129 Year Ended December 31, 2017 As Previously Reported Impact of Revisions As Revised (in millions) Consolidated Statement of Cash Flows: Cash flows from operating activities: Net income (loss) $ 1,257 $ (56) $ 1,201 Adjustments to reconcile Net income (loss) to Net cash provided by (used in) operating activities: Policy charges and fee income (3,693) 7 (3,686) Net derivative (gains) losses (214) 23 (191) Amortization and depreciation 399 (13) 386 Capitalization of DAC (687) 24 (663) Future policy benefits 1,097 14 1,111 Current and deferred income taxes (10) 1 (9) Net cash provided by (used in) operating activities $ (243) $ — $ (243) Cash and cash equivalents, end of year $ 4,814 $ — $ 4,814

ORGANIZATION - Narrative (Detai

ORGANIZATION - Narrative (Details) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2020USD ($)segment	Dec. 31, 2019USD ($)
Organization Basis Of Presentation [Line Items]
Number of reportable segments | segment	4
U.S. Financial Life Insurance Company and MONY Life Insurance Company of the Americas, Ltd
Organization Basis Of Presentation [Line Items]
Investment impairment | $	$ 39	$ 105
Alliance Bernstein
Organization Basis Of Presentation [Line Items]
Economic interest	65.00%	65.00%

SIGNIFICANT ACCOUNTING POLICI_4

SIGNIFICANT ACCOUNTING POLICIES - Adoption of New Accounting Pronouncements (Details) - USD ($) $ in Millions	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Jan. 01, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stockholders' equity	$ 18,852	$ 19,038	$ 21,535		$ 15,047	$ 16,482	$ 16,217	$ 14,591	$ 15,368	$ 16,411
Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stockholders' equity	$ 12,032	$ 12,899	$ 17,007		11,744	$ 12,761	$ 13,209	$ 12,922	$ 13,937	$ 12,138	$ 11,360
Cumulative effect of period of adoption, adjusted balance
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stockholders' equity					(30)
Cumulative effect of period of adoption, adjusted balance | Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stockholders' equity					$ (30)
Accounting Standards Update 2016-13 | Cumulative effect of period of adoption, adjusted balance | Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stockholders' equity				$ (40)

SIGNIFICANT ACCOUNTING POLICI_5

SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Life insurance, corporate or bank owned, amount	$ 958	$ 944
Equity real estate | Minimum
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Property, plant and equipment, useful life	40 years
Equity real estate | Maximum
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Property, plant and equipment, useful life	50 years

SIGNIFICANT ACCOUNTING POLICI_6

SIGNIFICANT ACCOUNTING POLICIES - Variable Interest Entities (Details) $ in Millions		9 Months Ended	12 Months Ended
		Sep. 30, 2020USD ($)joint_venture	Dec. 31, 2019USD ($)joint_venture	Jun. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Dec. 31, 2018USD ($)
Variable Interest Entity [Line Items]
Assets		$ 262,496	$ 249,818	$ 254,018	$ 240,681	$ 220,779
Liabilities		243,549	234,406	$ 234,893	$ 218,889	$ 205,224
Redeemable non-controlling interest	[1],[2]	$ 95	$ 365
Consolidated Variable Interest Entities
Variable Interest Entity [Line Items]
Number of consolidated real estate joint ventures | joint_venture		1	1
Assets		$ 31	$ 32
Non-consolidated Vairable Interest Entities
Variable Interest Entity [Line Items]
Assets		156,700	160,200
Investment assets		1,300	1,200
Variable interest entity, maximum loss exposure		1,300	1,200
Variable interest entity, unfunded commitments		1,200	1,100
Operating income (loss)		$ (4)	$ (5)
Number of nonconsolidated real estate joint ventures | joint_venture		1	1
Special Purpose Entity
Variable Interest Entity [Line Items]
Investment assets		$ 18
AB-Sponsored Investment Funds | Consolidated Variable Interest Entities
Variable Interest Entity [Line Items]
Assets		169	$ 424
Liabilities		7	12
Redeemable non-controlling interest		39	273
AB-Sponsored Investment Funds | VOE Consolidation Model
Variable Interest Entity [Line Items]
Assets		102	188
Liabilities		23	19
Redeemable non-controlling interest		18	52
AB-Sponsored Investment Funds | Non-consolidated Vairable Interest Entities
Variable Interest Entity [Line Items]
Assets		68,900	79,300
Variable interest entity, maximum loss exposure		$ 7	$ 8
[1]	See Note 12 for details of Redeemable noncontrolling interest.
[2]	See Note 2 for details of balances with variable interest entities.

SIGNIFICANT ACCOUNTING POLICI_7

SIGNIFICANT ACCOUNTING POLICIES - Assumption Updates and Model Changes (Details) - USD ($)	3 Months Ended						6 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Change in Accounting Estimate [Line Items]
Policy charges and fee income	$ 914,000,000	$ 877,000,000	$ 996,000,000	$ 980,000,000	$ 938,000,000	$ 929,000,000	$ 1,873,000,000	$ 1,867,000,000	$ 2,787,000,000	$ 2,847,000,000	$ 3,778,000,000	$ 3,834,000,000	$ 3,686,000,000
Policyholders’ benefits	1,034,000,000	736,000,000	2,776,000,000	1,735,000,000	895,000,000	921,000,000	3,512,000,000	1,816,000,000	4,546,000,000	3,551,000,000	4,385,000,000	2,856,000,000	4,380,000,000
Interest credited to policyholders’ account balances	306,000,000			320,000,000	317,000,000	307,000,000		624,000,000	930,000,000	944,000,000	1,263,000,000	1,067,000,000
Net derivative gains (losses)	(1,472,000,000)	(6,038,000,000)	9,400,000,000	(453,000,000)	(237,000,000)	(1,633,000,000)	3,362,000,000	(1,870,000,000)	1,890,000,000	(2,323,000,000)	(4,012,000,000)	(250,000,000)	191,000,000
Income (loss) from continuing operations, before income taxes	(923,000,000)	(5,008,000,000)	6,859,000,000	(427,000,000)	438,000,000	(962,000,000)	1,851,000,000	(524,000,000)	928,000,000	(951,000,000)	(2,060,000,000)	2,490,000,000	1,243,000,000
Net income (loss)	(705,000,000)	$ (3,933,000,000)	5,425,000,000	(306,000,000)	$ 428,000,000	$ (739,000,000)	$ 1,492,000,000	$ (311,000,000)	787,000,000	$ (617,000,000)	$ (1,467,000,000)	$ 2,189,000,000	$ 1,201,000,000
Long-term Lapses, Partial Withdrawal Rates and Election Assumptions Updates
Change in Accounting Estimate [Line Items]
Policy charges and fee income	(23,000,000)		46,000,000	3,000,000
Policyholders’ benefits	193,000,000		1,400,000,000	875,000,000
Interest credited to policyholders’ account balances	5,000,000		(6,000,000)	(13,000,000)
Net derivative gains (losses)	(112,000,000)			(578,000,000)
Amortization of deferred policy acquisition costs, net	(35,000,000)		1,100,000,000	(46,000,000)
Income (loss) from continuing operations, before income taxes	(74,000,000)		(2,500,000,000)	(1,400,000,000)
Net income (loss)	(58,000,000)		(2,000,000,000)	$ (1,100,000,000)
Economic Scenario Generator
Change in Accounting Estimate [Line Items]
Income (loss) from continuing operations, before income taxes									201,000,000
Net income (loss)									$ 159,000,000
Credit Risk Adjustment, Fair Value Scenario Calibration
Change in Accounting Estimate [Line Items]
Gain (loss) on assumption updates and model changes, pre tax	$ 445,000,000
5-year Historical Average Over A 10-year Period
Change in Accounting Estimate [Line Items]
Interest rate assumptions			$ 0.0225

INVESTMENTS - Narrative (Detail

INVESTMENTS - Narrative (Details)	3 Months Ended	9 Months Ended
	Sep. 30, 2020USD ($)security	Sep. 30, 2020USD ($)numberOfLoansecurity	Dec. 31, 2019USD ($)security
Net Investment Income [Line Items]
Number of positions in unrealized loss position | security	729	729	413
Debt securities exposure in single issuer greater than stated percentage of total investments	0.70%	0.70%
Amortized cost	$ 70,294,000,000	$ 70,294,000,000
Unrealized loss on available for sale securities	83,000,000	83,000,000
Gross unrealized losses	59,000,000	59,000,000	$ 32,000,000
Allowance for credit loss	70,000,000	70,000,000
Separate account equity investment carrying value	38,000,000	38,000,000	58,000,000
Corporate
Net Investment Income [Line Items]
Exposure in single issuer of total investments	$ 373,000,000	$ 373,000,000	$ 309,000,000
Debt securities exposure in single issuer of total investments, percentage	2.00%	2.00%	2.10%
Gross unrealized losses	$ 50,000,000	$ 50,000,000	$ 20,000,000
Fixed maturities
Net Investment Income [Line Items]
Accrued investment income receivable	547,000,000	547,000,000
Accrued interest, written off	0	0
Amortized cost	70,307,000,000	70,307,000,000	62,937,000,000
Commercial Mortgage Loans
Net Investment Income [Line Items]
Accrued investment income receivable	29,000,000	29,000,000
Accrued interest, written off	$ 0	$ 0
Number of troubled debt restructuring | numberOfLoan		1
Troubled debt restructuring, premodification		$ 75,000,000
Troubled debt restructuring, postmodification		$ 75,000,000
Troubled debt restructuring, percentage of total invested assets	0.07%	0.07%
Agricultural Mortgage Loans
Net Investment Income [Line Items]
Accrued investment income receivable	$ 32,000,000	$ 32,000,000
Accrued interest, written off	0	0
Individually Assessed Mortgage Loans
Net Investment Income [Line Items]
Mortgage loans foreclosure probable	0	0
Allowance for credit loss	$ 0	$ 0
Privately Negotiated Fixed Maturity
Net Investment Income [Line Items]
Number of troubled debt restructuring | numberOfLoan		6
Troubled debt restructuring, premodification		$ 50,000,000
Troubled debt restructuring, postmodification		$ 44,000,000
Troubled debt restructuring, percentage of total invested assets	0.04%	0.04%
Fair Value, Measurements, Recurring
Net Investment Income [Line Items]
Trading securities, at fair value	$ 6,244,000,000	$ 6,244,000,000	7,031,000,000
Other Than Investment Grade | External Credit Rating, Non Investment Grade | Fixed maturities
Net Investment Income [Line Items]
Available-for-sale securities, amortized cost basis other than investment grade	$ 2,000,000,000	$ 2,000,000,000	$ 1,400,000,000
Percentage of available for sale securities	2.90%	2.90%	2.30%
Unrealized loss on available for sale securities			$ 21,000,000

INVESTMENTS - Available-for-sal

INVESTMENTS - Available-for-sale Securities (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 70,307		$ 70,307		$ 62,937
Allowance for Credit Losses	13		13		0
Gross Unrealized Gains	9,288		9,288		3,789
Gross Unrealized Losses	203		203		383
Fixed maturities available for sale, at fair value	79,379		79,379		66,343
Amortized Cost
Due in one year or less	4,326		4,326
Due in years two through five	15,844		15,844
Due in years six through ten	18,836		18,836
Due after ten years	27,072		27,072
Subtotal	66,078		66,078
Amortized cost	70,294		70,294
Fair Value
Due in one year or less	4,362		4,362
Due in years two through five	16,772		16,772
Due in years six through ten	20,887		20,887
Due after ten years	33,042		33,042
Subtotal	75,063		75,063
Fair Value	79,379		79,379
Fixed Maturities Proceeds Gross Gains And Gross Losses From Sales And Other Than Temporary Impairments
Proceeds from sales	1,433	$ 3,849	6,200	$ 6,913
Gross gains on sales	26	205	303	223
Gross losses on sales	(5)	(4)	(39)	(29)
Credit losses	0	0	(13)	0
Fixed Maturities - Credit Loss Impairments
Balances, beginning of period	32	25	21	58
Previously recognized impairments on securities that matured, paid, prepaid or sold	0	(4)	(2)	(37)
Recognized impairments on securities impaired to fair value this period	0	0	0	0
Credit losses recognized this period on securities for which credit losses were not previously recognized	(3)	0	7	0
Additional impairments this period on securities previously impaired	3	0	6	0
Increases due to passage of time on previously recorded credit losses	0	0	0	0
Accretion of previously recognized impairments due to increases in expected cash flows	0	0	0	0
Balances, end of period	32	$ 21	32	$ 21
Corporate
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	51,340		51,340		45,900
Allowance for Credit Losses	13		13		0
Gross Unrealized Gains	4,661		4,661		2,361
Gross Unrealized Losses	176		176		62
Fixed maturities available for sale, at fair value	55,812		55,812		48,199
U.S. Treasury, government and agency
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	13,160		13,160		14,410
Allowance for Credit Losses	0		0		0
Gross Unrealized Gains	4,308		4,308		1,289
Gross Unrealized Losses	0		0		305
Fixed maturities available for sale, at fair value	17,468		17,468		15,394
States and political subdivisions
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	762		762		638
Allowance for Credit Losses	0		0		0
Gross Unrealized Gains	116		116		70
Gross Unrealized Losses	0		0		3
Fixed maturities available for sale, at fair value	878		878		705
Foreign governments
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	829		829		462
Allowance for Credit Losses	0		0		0
Gross Unrealized Gains	82		82		35
Gross Unrealized Losses	6		6		5
Fixed maturities available for sale, at fair value	905		905		492
Residential mortgage-backed
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	146		146		178
Allowance for Credit Losses	0		0		0
Gross Unrealized Gains	14		14		13
Gross Unrealized Losses	0		0		0
Fixed maturities available for sale, at fair value	160		160		191
Amortized Cost
Without single maturity date	146		146
Fair Value
Without single maturity date	160		160
Asset-backed
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	2,588		2,588		848
Allowance for Credit Losses	0		0		0
Gross Unrealized Gains	26		26		4
Gross Unrealized Losses	18		18		3
Fixed maturities available for sale, at fair value	2,596		2,596		849
Amortized Cost
Without single maturity date	2,588		2,588
Fair Value
Without single maturity date	2,596		2,596
Commercial mortgage-backed
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	1,067		1,067
Allowance for Credit Losses	0		0
Gross Unrealized Gains	50		50
Gross Unrealized Losses	0		0
Fixed maturities available for sale, at fair value	1,117		1,117
Amortized Cost
Without single maturity date	1,067		1,067
Fair Value
Without single maturity date	1,117		1,117
Redeemable preferred stock
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	415		415		501
Allowance for Credit Losses	0		0		0
Gross Unrealized Gains	31		31		17
Gross Unrealized Losses	3		3		5
Fixed maturities available for sale, at fair value	443		443		$ 513
Amortized Cost
Without single maturity date	415		415
Fair Value
Without single maturity date	$ 443		$ 443

INVESTMENTS - Net Unrealized In

INVESTMENTS - Net Unrealized Investments (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Debt Securities, Available-for-sale, Net Unrealized Investments [Roll Forward]
Beginning of year	$ 19,038	$ 16,217	$ 15,047	$ 15,368
End of year	18,852	16,482	18,852	16,482
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent | Unrealized Investment Gains Losses All Other | Net Unrealized Gains (Losses) on Investments
Debt Securities, Available-for-sale, Net Unrealized Investments [Roll Forward]
Beginning of year	8,728	2,929	3,453	(522)
Net investment gains (losses) arising during the period	362	1,619	5,898	5,075
Included in Net income (loss)	(21)	(199)	(273)	(204)
Excluded from Net earnings (loss)	0	0	0	0
Impact of net unrealized investment gains (losses)	0	0	0	0
Net unrealized investment gains (losses) excluding OTTI losses	9,069	4,349	9,078	4,349
Net unrealized investment gains (losses) with OTTI losses	3	0	(6)	0
End of year	9,072	4,349	9,072	4,349
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent | Unrealized Investment Gains Losses All Other | DAC
Debt Securities, Available-for-sale, Net Unrealized Investments [Roll Forward]
Beginning of year	(1,521)	(649)	(894)	100
Impact of net unrealized investment gains (losses)	23	(374)	(606)	(1,123)
Net unrealized investment gains (losses) excluding OTTI losses	(1,498)	(1,023)	(1,500)	(1,023)
End of year	(1,499)	(1,023)	(1,499)	(1,023)
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent | Unrealized Investment Gains Losses All Other | Policyholders’ Liabilities
Debt Securities, Available-for-sale, Net Unrealized Investments [Roll Forward]
Beginning of year	(1,034)	(101)	(189)	(88)
Impact of net unrealized investment gains (losses)	(13)	(121)	(859)	(134)
Net unrealized investment gains (losses) excluding OTTI losses	(1,047)	(222)	(1,048)	(222)
End of year	(1,047)	(222)	(1,047)	(222)
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent | Unrealized Investment Gains Losses All Other | Deferred Income Tax Asset (Liability)
Debt Securities, Available-for-sale, Net Unrealized Investments [Roll Forward]
Beginning of year	(1,297)	(481)	(497)	104
Impact of net unrealized investment gains (losses)	(74)	(150)	(875)	(735)
Net unrealized investment gains (losses) excluding OTTI losses	(1,371)	(631)	(1,372)	(631)
End of year	(1,371)	(631)	(1,371)	(631)
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent | Unrealized Investment Gains Losses All Other | AOCI Gain (Loss) Related to Net Unrealized Investment Gains (Losses)
Debt Securities, Available-for-sale, Net Unrealized Investments [Roll Forward]
Beginning of year	4,876	1,698	1,873	(406)
Net investment gains (losses) arising during the period	362	1,619	5,898	5,075
Included in Net income (loss)	(21)	(199)	(273)	(204)
Excluded from Net earnings (loss)	0	0	0	0
Impact of net unrealized investment gains (losses)	(64)	(645)	(2,340)	(1,992)
Net unrealized investment gains (losses) excluding OTTI losses	5,153	2,473	5,158	2,473
Net unrealized investment gains (losses) with OTTI losses	2	0	(3)	0
End of year	5,155	2,473	5,155	2,473
Fixed maturities | AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent | Unrealized Investment Gains Losses All Other | DAC
Debt Securities, Available-for-sale, Net Unrealized Investments [Roll Forward]
Net unrealized investment gains (losses) with OTTI losses	(1)	0	1	0
Fixed maturities | AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent | Unrealized Investment Gains Losses All Other | Policyholders’ Liabilities
Debt Securities, Available-for-sale, Net Unrealized Investments [Roll Forward]
Net unrealized investment gains (losses) with OTTI losses	0	0	1	0
Fixed maturities | AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent | Unrealized Investment Gains Losses All Other | Deferred Income Tax Asset (Liability)
Debt Securities, Available-for-sale, Net Unrealized Investments [Roll Forward]
Net unrealized investment gains (losses) with OTTI losses	$ 0	$ 0	$ 1	$ 0

INVESTMENTS - Fixed Maturities

INVESTMENTS - Fixed Maturities Available-for-sale (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Available For Sale Securities Continuous Unrealized Loss Position [Line Items]
Less than Twelve Months, Fair Value	$ 5,718	$ 7,553
Less than 12 Months, Gross unrealized Losses	139	351
12 Months or Longer, Fair Value	485	672
12 Months or Longer, Gross unrealized Losses	59	32
Total Fair Value	6,203	8,225
Total Gross unrealized losses	198	383
Corporate
Available For Sale Securities Continuous Unrealized Loss Position [Line Items]
Less than Twelve Months, Fair Value	4,247	2,773
Less than 12 Months, Gross unrealized Losses	121	42
12 Months or Longer, Fair Value	369	373
12 Months or Longer, Gross unrealized Losses	50	20
Total Fair Value	4,616	3,146
Total Gross unrealized losses	171	62
U.S. Treasury, government and agency
Available For Sale Securities Continuous Unrealized Loss Position [Line Items]
Less than Twelve Months, Fair Value		4,309
Less than 12 Months, Gross unrealized Losses		305
12 Months or Longer, Fair Value		2
12 Months or Longer, Gross unrealized Losses		0
Total Fair Value		4,311
Total Gross unrealized losses		305
States and political subdivisions
Available For Sale Securities Continuous Unrealized Loss Position [Line Items]
Less than Twelve Months, Fair Value		112
Less than 12 Months, Gross unrealized Losses		3
12 Months or Longer, Fair Value		0
12 Months or Longer, Gross unrealized Losses		0
Total Fair Value		112
Total Gross unrealized losses		3
Foreign governments
Available For Sale Securities Continuous Unrealized Loss Position [Line Items]
Less than Twelve Months, Fair Value	88	11
Less than 12 Months, Gross unrealized Losses	1	0
12 Months or Longer, Fair Value	31	47
12 Months or Longer, Gross unrealized Losses	5	5
Total Fair Value	119	58
Total Gross unrealized losses	6	5
Asset-backed
Available For Sale Securities Continuous Unrealized Loss Position [Line Items]
Less than Twelve Months, Fair Value	1,324	319
Less than 12 Months, Gross unrealized Losses	16	1
12 Months or Longer, Fair Value	74	201
12 Months or Longer, Gross unrealized Losses	2	2
Total Fair Value	1,398	520
Total Gross unrealized losses	18	3
Redeemable preferred stock
Available For Sale Securities Continuous Unrealized Loss Position [Line Items]
Less than Twelve Months, Fair Value	59	29
Less than 12 Months, Gross unrealized Losses	1	0
12 Months or Longer, Fair Value	11	49
12 Months or Longer, Gross unrealized Losses	2	5
Total Fair Value	70	78
Total Gross unrealized losses	$ 3	$ 5

INVESTMENTS - Mortgage Loans (D

INVESTMENTS - Mortgage Loans (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Ending balance	$ 70	$ 70
Commercial Real Estate Portfolio Segment
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	62	33
Current-period provision for expected credit losses	4	33
Write-offs charged against the allowance	0	0
Recoveries of amounts previously written off	0	0
Net change in allowance	4	33
Ending balance	66	66
Agricultural Real Estate Portfolio Segment
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	4	3
Current-period provision for expected credit losses	0	1
Write-offs charged against the allowance	0	0
Recoveries of amounts previously written off	0	0
Net change in allowance	0	1
Ending balance	$ 4	$ 4

INVESTMENTS - Credit Quality (D

INVESTMENTS - Credit Quality (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Commercial Mortgage Loans
Financing Receivable, before Allowance for Credit Loss [Abstract]
2020	$ 1,025
2019	805
2018	1,265
2017	1,204
2016	2,772
Prior	3,048
Total	10,119	$ 9,390
Age Analysis of Past Due Mortgage Loan
Total Past Due	0	0
Current	10,119	9,390
Total	10,119	9,390
Non-accruing Loans	0	0
Total	10,119	9,390
Non-accruing Loans with No Allowance	0	0
Interest Income on Non-accruing Loans	0	0
Commercial Mortgage Loans | 30-59 Days
Age Analysis of Past Due Mortgage Loan
Total Past Due	0	0
Commercial Mortgage Loans | 60-89 Days
Age Analysis of Past Due Mortgage Loan
Total Past Due	0	0
Commercial Mortgage Loans | 90 Days Or Greater
Age Analysis of Past Due Mortgage Loan
Total Past Due	0	0
Commercial Mortgage Loans | Greater than 2.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
2020	749
2019	492
2018	772
2017	268
2016	2,053
Prior	1,268
Total	5,602	5,251
Age Analysis of Past Due Mortgage Loan
Total	5,602	5,251
Commercial Mortgage Loans | 1.8x to 2.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
2020	227
2019	77
2018	118
2017	378
2016	184
Prior	524
Total	1,508	1,331
Age Analysis of Past Due Mortgage Loan
Total	1,508	1,331
Commercial Mortgage Loans | 1.5x to 1.8x
Financing Receivable, before Allowance for Credit Loss [Abstract]
2020	49
2019	138
2018	186
2017	480
2016	437
Prior	569
Total	1,859	1,546
Age Analysis of Past Due Mortgage Loan
Total	1,859	1,546
Commercial Mortgage Loans | 1.2x to 1.5x
Financing Receivable, before Allowance for Credit Loss [Abstract]
2020	0
2019	56
2018	154
2017	78
2016	97
Prior	533
Total	918	974
Age Analysis of Past Due Mortgage Loan
Total	918	974
Commercial Mortgage Loans | 1.0x to 1.2x
Financing Receivable, before Allowance for Credit Loss [Abstract]
2020	0
2019	42
2018	35
2017	0
2016	1
Prior	82
Total	160	288
Age Analysis of Past Due Mortgage Loan
Total	160	288
Commercial Mortgage Loans | Less than 1.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
2020	0
2019	0
2018	0
2017	0
2016	0
Prior	72
Total	72	0
Age Analysis of Past Due Mortgage Loan
Total	72	0
Commercial Mortgage Loans | 0% - 50%
Financing Receivable, before Allowance for Credit Loss [Abstract]
2020	0
2019	0
2018	0
2017	324
2016	187
Prior	650
Total	1,161	1,180
Age Analysis of Past Due Mortgage Loan
Total	1,161	1,180
Commercial Mortgage Loans | 0% - 50% | Greater than 2.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	952	903
Age Analysis of Past Due Mortgage Loan
Total	952	903
Commercial Mortgage Loans | 0% - 50% | 1.8x to 2.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	0	38
Age Analysis of Past Due Mortgage Loan
Total	0	38
Commercial Mortgage Loans | 0% - 50% | 1.5x to 1.8x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	185	214
Age Analysis of Past Due Mortgage Loan
Total	185	214
Commercial Mortgage Loans | 0% - 50% | 1.2x to 1.5x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	24	25
Age Analysis of Past Due Mortgage Loan
Total	24	25
Commercial Mortgage Loans | 0% - 50% | 1.0x to 1.2x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	0	0
Age Analysis of Past Due Mortgage Loan
Total	0	0
Commercial Mortgage Loans | 0% - 50% | Less than 1.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	0	0
Age Analysis of Past Due Mortgage Loan
Total	0	0
Commercial Mortgage Loans | 50% - 70%
Financing Receivable, before Allowance for Credit Loss [Abstract]
2020	935
2019	411
2018	885
2017	760
2016	2,432
Prior	1,608
Total	7,031	7,447
Age Analysis of Past Due Mortgage Loan
Total	7,031	7,447
Commercial Mortgage Loans | 50% - 70% | Greater than 2.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	3,992	4,097
Age Analysis of Past Due Mortgage Loan
Total	3,992	4,097
Commercial Mortgage Loans | 50% - 70% | 1.8x to 2.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	1,160	1,195
Age Analysis of Past Due Mortgage Loan
Total	1,160	1,195
Commercial Mortgage Loans | 50% - 70% | 1.5x to 1.8x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	1,342	1,118
Age Analysis of Past Due Mortgage Loan
Total	1,342	1,118
Commercial Mortgage Loans | 50% - 70% | 1.2x to 1.5x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	511	795
Age Analysis of Past Due Mortgage Loan
Total	511	795
Commercial Mortgage Loans | 50% - 70% | 1.0x to 1.2x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	26	242
Age Analysis of Past Due Mortgage Loan
Total	26	242
Commercial Mortgage Loans | 50% - 70% | Less than 1.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	0	0
Age Analysis of Past Due Mortgage Loan
Total	0	0
Commercial Mortgage Loans | 70% - 90%
Financing Receivable, before Allowance for Credit Loss [Abstract]
2020	90
2019	394
2018	368
2017	115
2016	153
Prior	574
Total	1,694	763
Age Analysis of Past Due Mortgage Loan
Total	1,694	763
Commercial Mortgage Loans | 70% - 90% | Greater than 2.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	574	251
Age Analysis of Past Due Mortgage Loan
Total	574	251
Commercial Mortgage Loans | 70% - 90% | 1.8x to 2.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	348	98
Age Analysis of Past Due Mortgage Loan
Total	348	98
Commercial Mortgage Loans | 70% - 90% | 1.5x to 1.8x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	332	214
Age Analysis of Past Due Mortgage Loan
Total	332	214
Commercial Mortgage Loans | 70% - 90% | 1.2x to 1.5x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	306	154
Age Analysis of Past Due Mortgage Loan
Total	306	154
Commercial Mortgage Loans | 70% - 90% | 1.0x to 1.2x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	134	46
Age Analysis of Past Due Mortgage Loan
Total	134	46
Commercial Mortgage Loans | 70% - 90% | Less than 1.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	0	0
Age Analysis of Past Due Mortgage Loan
Total	0	0
Commercial Mortgage Loans | 90% plus
Financing Receivable, before Allowance for Credit Loss [Abstract]
2020	0
2019	0
2018	12
2017	5
2016	0
Prior	216
Total	233	0
Age Analysis of Past Due Mortgage Loan
Total	233	0
Commercial Mortgage Loans | 90% plus | Greater than 2.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	84	0
Age Analysis of Past Due Mortgage Loan
Total	84	0
Commercial Mortgage Loans | 90% plus | 1.8x to 2.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	0	0
Age Analysis of Past Due Mortgage Loan
Total	0	0
Commercial Mortgage Loans | 90% plus | 1.5x to 1.8x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	0	0
Age Analysis of Past Due Mortgage Loan
Total	0	0
Commercial Mortgage Loans | 90% plus | 1.2x to 1.5x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	77	0
Age Analysis of Past Due Mortgage Loan
Total	77	0
Commercial Mortgage Loans | 90% plus | 1.0x to 1.2x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	0	0
Age Analysis of Past Due Mortgage Loan
Total	0	0
Commercial Mortgage Loans | 90% plus | Less than 1.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	72	0
Age Analysis of Past Due Mortgage Loan
Total	72	0
Agricultural Mortgage Loans
Financing Receivable, before Allowance for Credit Loss [Abstract]
2020	434
2019	268
2018	343
2017	271
2016	368
Prior	1,069
Total	2,753	2,717
Age Analysis of Past Due Mortgage Loan
Total Past Due	165	124
Current	2,588	2,593
Total	2,753	2,717
Non-accruing Loans	0	0
Total	2,753	2,717
Non-accruing Loans with No Allowance	0	0
Interest Income on Non-accruing Loans	0	0
Agricultural Mortgage Loans | 30-59 Days
Age Analysis of Past Due Mortgage Loan
Total Past Due	24	57
Agricultural Mortgage Loans | 60-89 Days
Age Analysis of Past Due Mortgage Loan
Total Past Due	6	1
Agricultural Mortgage Loans | 90 Days Or Greater
Age Analysis of Past Due Mortgage Loan
Total Past Due	135	66
Agricultural Mortgage Loans | Greater than 2.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
2020	52
2019	27
2018	39
2017	38
2016	73
Prior	158
Total	387	404
Age Analysis of Past Due Mortgage Loan
Total	387	404
Agricultural Mortgage Loans | 1.8x to 2.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
2020	33
2019	36
2018	14
2017	15
2016	21
Prior	90
Total	209	191
Age Analysis of Past Due Mortgage Loan
Total	209	191
Agricultural Mortgage Loans | 1.5x to 1.8x
Financing Receivable, before Allowance for Credit Loss [Abstract]
2020	103
2019	38
2018	45
2017	41
2016	52
Prior	212
Total	491	477
Age Analysis of Past Due Mortgage Loan
Total	491	477
Agricultural Mortgage Loans | 1.2x to 1.5x
Financing Receivable, before Allowance for Credit Loss [Abstract]
2020	165
2019	118
2018	146
2017	105
2016	147
Prior	327
Total	1,008	990
Age Analysis of Past Due Mortgage Loan
Total	1,008	990
Agricultural Mortgage Loans | 1.0x to 1.2x
Financing Receivable, before Allowance for Credit Loss [Abstract]
2020	77
2019	39
2018	91
2017	71
2016	57
Prior	265
Total	600	572
Age Analysis of Past Due Mortgage Loan
Total	600	572
Agricultural Mortgage Loans | Less than 1.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
2020	4
2019	10
2018	8
2017	1
2016	18
Prior	17
Total	58	83
Age Analysis of Past Due Mortgage Loan
Total	58	83
Agricultural Mortgage Loans | 0% - 50%
Financing Receivable, before Allowance for Credit Loss [Abstract]
2020	181
2019	137
2018	168
2017	161
2016	232
Prior	679
Total	1,558	1,583
Age Analysis of Past Due Mortgage Loan
Total	1,558	1,583
Agricultural Mortgage Loans | 0% - 50% | Greater than 2.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	283	322
Age Analysis of Past Due Mortgage Loan
Total	283	322
Agricultural Mortgage Loans | 0% - 50% | 1.8x to 2.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	107	104
Age Analysis of Past Due Mortgage Loan
Total	107	104
Agricultural Mortgage Loans | 0% - 50% | 1.5x to 1.8x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	271	241
Age Analysis of Past Due Mortgage Loan
Total	271	241
Agricultural Mortgage Loans | 0% - 50% | 1.2x to 1.5x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	529	545
Age Analysis of Past Due Mortgage Loan
Total	529	545
Agricultural Mortgage Loans | 0% - 50% | 1.0x to 1.2x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	335	321
Age Analysis of Past Due Mortgage Loan
Total	335	321
Agricultural Mortgage Loans | 0% - 50% | Less than 1.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	33	50
Age Analysis of Past Due Mortgage Loan
Total	33	50
Agricultural Mortgage Loans | 50% - 70%
Financing Receivable, before Allowance for Credit Loss [Abstract]
2020	253
2019	131
2018	172
2017	110
2016	136
Prior	372
Total	1,174	1,115
Age Analysis of Past Due Mortgage Loan
Total	1,174	1,115
Agricultural Mortgage Loans | 50% - 70% | Greater than 2.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	104	82
Age Analysis of Past Due Mortgage Loan
Total	104	82
Agricultural Mortgage Loans | 50% - 70% | 1.8x to 2.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	100	87
Age Analysis of Past Due Mortgage Loan
Total	100	87
Agricultural Mortgage Loans | 50% - 70% | 1.5x to 1.8x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	220	236
Age Analysis of Past Due Mortgage Loan
Total	220	236
Agricultural Mortgage Loans | 50% - 70% | 1.2x to 1.5x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	460	426
Age Analysis of Past Due Mortgage Loan
Total	460	426
Agricultural Mortgage Loans | 50% - 70% | 1.0x to 1.2x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	265	251
Age Analysis of Past Due Mortgage Loan
Total	265	251
Agricultural Mortgage Loans | 50% - 70% | Less than 1.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	25	33
Age Analysis of Past Due Mortgage Loan
Total	25	33
Agricultural Mortgage Loans | 70% - 90%
Financing Receivable, before Allowance for Credit Loss [Abstract]
2020	0
2019	0
2018	3
2017	0
2016	0
Prior	18
Total	21	19
Age Analysis of Past Due Mortgage Loan
Total	21	19
Agricultural Mortgage Loans | 70% - 90% | Greater than 2.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	0	0
Age Analysis of Past Due Mortgage Loan
Total	0	0
Agricultural Mortgage Loans | 70% - 90% | 1.8x to 2.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	2	0
Age Analysis of Past Due Mortgage Loan
Total	2	0
Agricultural Mortgage Loans | 70% - 90% | 1.5x to 1.8x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	0	0
Age Analysis of Past Due Mortgage Loan
Total	0	0
Agricultural Mortgage Loans | 70% - 90% | 1.2x to 1.5x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	19	19
Age Analysis of Past Due Mortgage Loan
Total	19	19
Agricultural Mortgage Loans | 70% - 90% | 1.0x to 1.2x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	0	0
Age Analysis of Past Due Mortgage Loan
Total	0	0
Agricultural Mortgage Loans | 70% - 90% | Less than 1.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	0	0
Age Analysis of Past Due Mortgage Loan
Total	0	0
Agricultural Mortgage Loans | 90% plus
Financing Receivable, before Allowance for Credit Loss [Abstract]
2020	0
2019	0
2018	0
2017	0
2016	0
Prior	0
Total	0	0
Age Analysis of Past Due Mortgage Loan
Total	0	0
Agricultural Mortgage Loans | 90% plus | Greater than 2.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	0	0
Age Analysis of Past Due Mortgage Loan
Total	0	0
Agricultural Mortgage Loans | 90% plus | 1.8x to 2.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	0	0
Age Analysis of Past Due Mortgage Loan
Total	0	0
Agricultural Mortgage Loans | 90% plus | 1.5x to 1.8x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	0	0
Age Analysis of Past Due Mortgage Loan
Total	0	0
Agricultural Mortgage Loans | 90% plus | 1.2x to 1.5x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	0	0
Age Analysis of Past Due Mortgage Loan
Total	0	0
Agricultural Mortgage Loans | 90% plus | 1.0x to 1.2x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	0	0
Age Analysis of Past Due Mortgage Loan
Total	0	0
Agricultural Mortgage Loans | 90% plus | Less than 1.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	0	0
Age Analysis of Past Due Mortgage Loan
Total	0	0
Total Mortgages Loan
Financing Receivable, before Allowance for Credit Loss [Abstract]
2020	1,459
2019	1,073
2018	1,608
2017	1,475
2016	3,140
Prior	4,117
Total	12,872	12,107
Age Analysis of Past Due Mortgage Loan
Total Past Due	165	124
Current	12,707	11,983
Total	12,872	12,107
Non-accruing Loans	0	0
Total	12,872	12,107
Non-accruing Loans with No Allowance	0	0
Interest Income on Non-accruing Loans	0	0
Total Mortgages Loan | 30-59 Days
Age Analysis of Past Due Mortgage Loan
Total Past Due	24	57
Total Mortgages Loan | 60-89 Days
Age Analysis of Past Due Mortgage Loan
Total Past Due	6	1
Total Mortgages Loan | 90 Days Or Greater
Age Analysis of Past Due Mortgage Loan
Total Past Due	135	66
Total Mortgages Loan | Greater than 2.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
2020	801
2019	519
2018	811
2017	306
2016	2,126
Prior	1,426
Total	5,989	5,655
Age Analysis of Past Due Mortgage Loan
Total	5,989	5,655
Total Mortgages Loan | 1.8x to 2.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
2020	260
2019	113
2018	132
2017	393
2016	205
Prior	614
Total	1,717	1,522
Age Analysis of Past Due Mortgage Loan
Total	1,717	1,522
Total Mortgages Loan | 1.5x to 1.8x
Financing Receivable, before Allowance for Credit Loss [Abstract]
2020	152
2019	176
2018	231
2017	521
2016	489
Prior	781
Total	2,350	2,023
Age Analysis of Past Due Mortgage Loan
Total	2,350	2,023
Total Mortgages Loan | 1.2x to 1.5x
Financing Receivable, before Allowance for Credit Loss [Abstract]
2020	165
2019	174
2018	300
2017	183
2016	244
Prior	860
Total	1,926	1,964
Age Analysis of Past Due Mortgage Loan
Total	1,926	1,964
Total Mortgages Loan | 1.0x to 1.2x
Financing Receivable, before Allowance for Credit Loss [Abstract]
2020	77
2019	81
2018	126
2017	71
2016	58
Prior	347
Total	760	860
Age Analysis of Past Due Mortgage Loan
Total	760	860
Total Mortgages Loan | Less than 1.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
2020	4
2019	10
2018	8
2017	1
2016	18
Prior	89
Total	130	83
Age Analysis of Past Due Mortgage Loan
Total	130	83
Total Mortgages Loan | 0% - 50%
Financing Receivable, before Allowance for Credit Loss [Abstract]
2020	181
2019	137
2018	168
2017	485
2016	419
Prior	1,329
Total	2,719	2,763
Age Analysis of Past Due Mortgage Loan
Total	2,719	2,763
Total Mortgages Loan | 0% - 50% | Greater than 2.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	1,235	1,225
Age Analysis of Past Due Mortgage Loan
Total	1,235	1,225
Total Mortgages Loan | 0% - 50% | 1.8x to 2.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	107	142
Age Analysis of Past Due Mortgage Loan
Total	107	142
Total Mortgages Loan | 0% - 50% | 1.5x to 1.8x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	456	455
Age Analysis of Past Due Mortgage Loan
Total	456	455
Total Mortgages Loan | 0% - 50% | 1.2x to 1.5x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	553	570
Age Analysis of Past Due Mortgage Loan
Total	553	570
Total Mortgages Loan | 0% - 50% | 1.0x to 1.2x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	335	321
Age Analysis of Past Due Mortgage Loan
Total	335	321
Total Mortgages Loan | 0% - 50% | Less than 1.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	33	50
Age Analysis of Past Due Mortgage Loan
Total	33	50
Total Mortgages Loan | 50% - 70%
Financing Receivable, before Allowance for Credit Loss [Abstract]
2020	1,188
2019	542
2018	1,057
2017	870
2016	2,568
Prior	1,980
Total	8,205	8,562
Age Analysis of Past Due Mortgage Loan
Total	8,205	8,562
Total Mortgages Loan | 50% - 70% | Greater than 2.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	4,096	4,179
Age Analysis of Past Due Mortgage Loan
Total	4,096	4,179
Total Mortgages Loan | 50% - 70% | 1.8x to 2.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	1,260	1,282
Age Analysis of Past Due Mortgage Loan
Total	1,260	1,282
Total Mortgages Loan | 50% - 70% | 1.5x to 1.8x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	1,562	1,354
Age Analysis of Past Due Mortgage Loan
Total	1,562	1,354
Total Mortgages Loan | 50% - 70% | 1.2x to 1.5x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	971	1,221
Age Analysis of Past Due Mortgage Loan
Total	971	1,221
Total Mortgages Loan | 50% - 70% | 1.0x to 1.2x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	291	493
Age Analysis of Past Due Mortgage Loan
Total	291	493
Total Mortgages Loan | 50% - 70% | Less than 1.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	25	33
Age Analysis of Past Due Mortgage Loan
Total	25	33
Total Mortgages Loan | 70% - 90%
Financing Receivable, before Allowance for Credit Loss [Abstract]
2020	90
2019	394
2018	371
2017	115
2016	153
Prior	592
Total	1,715	782
Age Analysis of Past Due Mortgage Loan
Total	1,715	782
Total Mortgages Loan | 70% - 90% | Greater than 2.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	574	251
Age Analysis of Past Due Mortgage Loan
Total	574	251
Total Mortgages Loan | 70% - 90% | 1.8x to 2.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	350	98
Age Analysis of Past Due Mortgage Loan
Total	350	98
Total Mortgages Loan | 70% - 90% | 1.5x to 1.8x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	332	214
Age Analysis of Past Due Mortgage Loan
Total	332	214
Total Mortgages Loan | 70% - 90% | 1.2x to 1.5x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	325	173
Age Analysis of Past Due Mortgage Loan
Total	325	173
Total Mortgages Loan | 70% - 90% | 1.0x to 1.2x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	134	46
Age Analysis of Past Due Mortgage Loan
Total	134	46
Total Mortgages Loan | 70% - 90% | Less than 1.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	0	0
Age Analysis of Past Due Mortgage Loan
Total	0	0
Total Mortgages Loan | 90% plus
Financing Receivable, before Allowance for Credit Loss [Abstract]
2020	0
2019	0
2018	12
2017	5
2016	0
Prior	216
Total	233	0
Age Analysis of Past Due Mortgage Loan
Total	233	0
Total Mortgages Loan | 90% plus | Greater than 2.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	84	0
Age Analysis of Past Due Mortgage Loan
Total	84	0
Total Mortgages Loan | 90% plus | 1.8x to 2.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	0	0
Age Analysis of Past Due Mortgage Loan
Total	0	0
Total Mortgages Loan | 90% plus | 1.5x to 1.8x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	0	0
Age Analysis of Past Due Mortgage Loan
Total	0	0
Total Mortgages Loan | 90% plus | 1.2x to 1.5x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	77	0
Age Analysis of Past Due Mortgage Loan
Total	77	0
Total Mortgages Loan | 90% plus | 1.0x to 1.2x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	0	0
Age Analysis of Past Due Mortgage Loan
Total	0	0
Total Mortgages Loan | 90% plus | Less than 1.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	72	0
Age Analysis of Past Due Mortgage Loan
Total	$ 72	$ 0

INVESTMENTS - Trading Securitie

INVESTMENTS - Trading Securities (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Investments, Debt and Equity Securities [Abstract]
Net investment gains (losses) recognized during the period on securities held at the end of the period	$ (13)	$ 15	$ 88	$ 492
Net investment gains (losses) recognized on securities sold during the period	16	14	45	(7)
Unrealized and realized gains (losses) on trading securities	3	29	133	485
Interest and dividend income from trading securities	60	62	159	227
Net investment income (loss) from trading securities	$ 63	$ 91	$ 292	$ 712

DERIVATIVES - Derivatives by Ca

DERIVATIVES - Derivatives by Category (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Derivatives, Fair Value [Line Items]
Notional Amount	$ 102,844		$ 119,128
Asset Derivatives	10,217		7,993
Liability Derivatives	23,085		17,361
Net Derivative Gains (Losses)	1,890	$ (2,323)
Futures
Derivatives, Fair Value [Line Items]
Notional Amount	4,480		4,257
Asset Derivatives	0		1
Liability Derivatives	0		1
Net Derivative Gains (Losses)	(401)	(990)
Swaps
Derivatives, Fair Value [Line Items]
Notional Amount	20,718		17,156
Asset Derivatives	28		9
Liability Derivatives	18		281
Net Derivative Gains (Losses)	(604)	(1,279)
Options
Derivatives, Fair Value [Line Items]
Notional Amount	31,750		47,861
Asset Derivatives	5,557		5,098
Liability Derivatives	2,800		1,752
Net Derivative Gains (Losses)	(481)	1,255
Swaps
Derivatives, Fair Value [Line Items]
Notional Amount	24,024		23,793
Asset Derivatives	1,699		468
Liability Derivatives	341		526
Net Derivative Gains (Losses)	3,587	2,843
Futures
Derivatives, Fair Value [Line Items]
Notional Amount	19,922		20,901
Asset Derivatives	0		0
Liability Derivatives	0		0
Net Derivative Gains (Losses)	2,051	188
Swaptions
Derivatives, Fair Value [Line Items]
Notional Amount	0		3,201
Asset Derivatives	0		16
Liability Derivatives	0		0
Net Derivative Gains (Losses)	9	146
Credit default swaps
Derivatives, Fair Value [Line Items]
Notional Amount	1,534		1,400
Asset Derivatives	24		21
Liability Derivatives	18		6
Net Derivative Gains (Losses)	2	9
Foreign currency contracts
Derivatives, Fair Value [Line Items]
Notional Amount	416		559
Asset Derivatives	8		12
Liability Derivatives	8		9
Net Derivative Gains (Losses)	(3)	(11)
Margin
Derivatives, Fair Value [Line Items]
Notional Amount	0		0
Asset Derivatives	69		155
Liability Derivatives	125		0
Net Derivative Gains (Losses)	0	0
Collateral
Derivatives, Fair Value [Line Items]
Notional Amount	0		0
Asset Derivatives	14		74
Liability Derivatives	4,965		3,016
Net Derivative Gains (Losses)	0	0
GMIB Reinsurance Contracts
Derivatives, Fair Value [Line Items]
Notional Amount	0		0
Asset Derivatives	2,818		2,139
Liability Derivatives	0		0
Net Derivative Gains (Losses)	737	740
GMxB Derivative Features’ Liability
Derivatives, Fair Value [Line Items]
Notional Amount	0		0
Asset Derivatives	0		0
Liability Derivatives	12,204		8,502
Net Derivative Gains (Losses)	(3,421)	(3,677)
SCS, SIO, MSO and IUL Indexed Features
Derivatives, Fair Value [Line Items]
Notional Amount	0		0
Asset Derivatives	0		0
Liability Derivatives	2,606		$ 3,268
Net Derivative Gains (Losses)	$ 414	$ (1,547)

DERIVATIVES - Narrative (Detail

DERIVATIVES - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Derivative [Line Items]
Cash and securities collateral for derivative contract	$ 5,000	$ 3,000
Cash and securities collateral	14	74
S&P 500, Russell 1000, NASDAQ 100 and Emerging Market Indices
Derivative [Line Items]
Initial margin requirement	381	252
Us Treasury Notes Ultra Long Bonds And Euro Dollar
Derivative [Line Items]
Initial margin requirement	315	166
Euro Stoxx, FTSE100, Topix, ASX200 and EAFE Indices
Derivative [Line Items]
Initial margin requirement	$ 40	$ 60

DERIVATIVES - Offsetting of Fin

DERIVATIVES - Offsetting of Financial Assets and Liabilities and Derivative Instruments (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Total derivatives
Assets
Gross Amount Recognized	$ 7,398	$ 5,852
Gross Amount Offset in the Balance Sheets	7,282	5,466
Net Amount Presented in the Balance Sheets	116	386
Gross Amount not Offset in the Balance Sheets	(54)	(77)
Net Amount	62	309
Liabilities
Gross Amount Recognized	8,222	5,512
Gross Amount Offset in the Balance Sheets	7,282	5,466
Net Amount Presented in the Balance Sheets	940	46
Gross Amount not Offset in the Balance Sheets	0	0
Net Amount	940	46
Other financial instruments
Assets
Gross Amount Recognized	1,686	2,394
Gross Amount Offset in the Balance Sheets	0	0
Net Amount Presented in the Balance Sheets	1,686	2,394
Gross Amount not Offset in the Balance Sheets	0	0
Net Amount	1,686	2,394
Other invested assets
Assets
Gross Amount Recognized	9,084	8,246
Gross Amount Offset in the Balance Sheets	7,282	5,466
Net Amount Presented in the Balance Sheets	1,802	2,780
Gross Amount not Offset in the Balance Sheets	(54)	(77)
Net Amount	1,748	2,703
Other financial liabilities
Liabilities
Gross Amount Recognized	3,924	3,924
Gross Amount Offset in the Balance Sheets	0	0
Net Amount Presented in the Balance Sheets	3,924	3,924
Gross Amount not Offset in the Balance Sheets	0	0
Net Amount	3,924	3,924
Other liabilities
Liabilities
Gross Amount Recognized	12,146	9,436
Gross Amount Offset in the Balance Sheets	7,282	5,466
Net Amount Presented in the Balance Sheets	4,864	3,970
Gross Amount not Offset in the Balance Sheets	0	0
Net Amount	$ 4,864	$ 3,970

GOODWILL - Narrative (Details)

GOODWILL - Narrative (Details) - USD ($) $ in Billions	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Alliance Bernstein | Investment Management
Goodwill [Line Items]
Amortization of intangible assets	$ 4.6	$ 4.6

CLOSED BLOCK - Closed Block Sum

CLOSED BLOCK - Closed Block Summarized Financial Information (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Closed Block Liabilities:
Future policy benefits, policyholders’ account balances and other	$ 6,260	$ 6,478
Policyholder dividend obligation	149	2
Other liabilities	58	38
Total Closed Block liabilities	6,467	6,518
Assets Designated to the Closed Block:
Fixed maturities available-for-sale, at fair value (amortized cost of $3,4400 and $3,558) (allowance for credit losses of $0 at September 30, 2020)	3,788	3,754
Mortgage loans on real estate (net of allowance for credit losses of $6 at September 30, 2020)	1,782	1,759
Policy loans	656	706
Cash and other invested assets	3	82
Other assets	172	145
Total assets designated to the Closed Block	6,401	6,446
Excess of Closed Block liabilities over assets designated to the Closed Block	66	72
Amounts included in accumulated other comprehensive income (loss):
Net unrealized investment gains (losses), net of policyholders’ dividend obligation: $149 and $2; and net of income tax: $42 and $41	168	164
Maximum future earnings to be recognized from Closed Block assets and liabilities	234	236
Fixed maturity available for sale, amortized cost	3,440	3,558
Fixed maturities available-for-sale, allowance for credit losses	0
Mortgage loans, credit losses	(6)
Policyholder dividend obligation	149	2
Closed block operations, income taxes	$ (42)	$ (41)

CLOSED BLOCK - Closed Block Rev

CLOSED BLOCK - Closed Block Revenues and Expenses (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenues:
Premiums and other income	$ 36	$ 42	$ 118	$ 136
Net investment income (loss)	61	69	190	208
Investment gains (losses), net	1	0	(1)	(1)
Total revenues	98	111	307	343
Benefits and Other Deductions:
Policyholders’ benefits and dividends	96	108	302	343
Other operating costs and expenses	0	0	1	1
Total benefits and other deductions	96	108	303	344
Net income (loss), before income taxes	2	3	4	(1)
Income tax (expense) benefit	(1)	0	(2)	(2)
Net income (loss)	$ 1	$ 3	$ 2	$ (3)

INSURANCE LIABILITIES - Rollfor

INSURANCE LIABILITIES - Rollforward of Liability and Reinsurance Ceded (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019	Dec. 31, 2018
GMDB Direct
Movement in Liabilities for Guarantees on Long-Duration Contracts, Guaranteed Benefit Liability, Gross [Roll Forward]
Opening Balance	$ 5,116	$ 4,767	$ 5,116	$ 4,767	$ 5,004	$ 4,780	$ 4,714	$ 4,662
Paid guarantee benefits	(121)	(102)	(372)	(328)
Other changes in reserves	233	155	708	433
Closing Balance	5,116	4,767	5,116	4,767	5,004	4,780	4,714	4,662
GMDB Assumed
Movement in Liabilities for Guarantees on Long-Duration Contracts, Guaranteed Benefit Liability, Gross [Roll Forward]
Opening Balance	68	74	68	74	70	76	76	82
Paid guarantee benefits	(6)	(6)	(16)	(17)
Other changes in reserves	4	4	8	9
Closing Balance	68	74	68	74	70	76	76	82
GMDB Ceded
Guaranteed Minimum Death Benefit Reinsurance Ceded [Roll Forward]
Opening Balance	(105)	(106)	(104)	(113)
Paid guarantee benefits	3	3	11	11
Other changes in reserve	10	(4)	1	(5)
Ending Balance	(92)	(107)	(92)	(107)
GMIB Direct
Movement in Liabilities for Guarantees on Long-Duration Contracts, Guaranteed Benefit Liability, Gross [Roll Forward]
Opening Balance	6,125	4,667	6,125	4,667	6,122	4,673	3,759	3,746
Paid guarantee benefits	(110)	(71)	(287)	(183)
Other changes in reserves	113	979	1,739	1,104
Closing Balance	6,125	4,667	6,125	4,667	6,122	4,673	3,759	3,746
GMIB Assumed
Movement in Liabilities for Guarantees on Long-Duration Contracts, Guaranteed Benefit Liability, Gross [Roll Forward]
Opening Balance	220	205	220	205	232	187	192	184
Paid guarantee benefits	(9)	15	39	25
Other changes in reserves	(3)	(2)	(6)	(4)
Closing Balance	220	205	220	205	$ 232	$ 187	$ 192	$ 184
GMIB Ceded
Guaranteed Minimum Death Benefit Reinsurance Ceded [Roll Forward]
Opening Balance	(2,931)	(1,897)	(2,139)	(1,733)
Paid guarantee benefits	21	20	58	55
Other changes in reserve	92	(576)	(737)	(775)
Ending Balance	$ (2,818)	$ (2,453)	$ (2,818)	$ (2,453)

INSURANCE LIABILITIES - Variabl

INSURANCE LIABILITIES - Variable Annuity Contracts with GMDB and GMIB Features and Buybacks (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
GMDB
Net Amount at Risk by Product and Guarantee [Line Items]
Separate Accounts	$ 91,323	$ 94,489
GMDB | Direct Variable Annuity
Net Amount at Risk by Product and Guarantee [Line Items]
General Account	15,472
Separate Accounts	91,323
Total Account Values	106,795
Net Amount at Risk, gross	21,644
Net Amount at Risk, net of amounts reinsured	$ 21,096
Average attained age of contract holders (in years)	55 years 3 months 18 days
Percentage of policyholders over age 70	20.00%
GMDB | Direct Variable Annuity | Minimum
Net Amount at Risk by Product and Guarantee [Line Items]
Range of contractually specified interest rates (as a percent)	3.00%
GMDB | Direct Variable Annuity | Maximum
Net Amount at Risk by Product and Guarantee [Line Items]
Range of contractually specified interest rates (as a percent)	6.50%
GMDB | Deferred Variable Annuity
Net Amount at Risk by Product and Guarantee [Line Items]
General Account	$ 7,129
Net Amount at Risk, gross	$ 402
Average attained age of contract holders (in years)	73 years
Percentage of policyholders over age 70	65.20%
GMDB | Deferred Variable Annuity | Minimum
Net Amount at Risk by Product and Guarantee [Line Items]
Range of contractually specified interest rates (as a percent)	3.00%
GMDB | Deferred Variable Annuity | Maximum
Net Amount at Risk by Product and Guarantee [Line Items]
Range of contractually specified interest rates (as a percent)	10.00%
GMIB
Net Amount at Risk by Product and Guarantee [Line Items]
Separate Accounts	$ 56,341	$ 59,348
GMIB | Direct Variable Annuity
Net Amount at Risk by Product and Guarantee [Line Items]
General Account	237
Separate Accounts	56,341
Total Account Values	56,578
Net Amount at Risk, gross	15,561
Net Amount at Risk, net of amounts reinsured	$ 13,415
Average attained age of contract holders (in years)	67 years 9 months 18 days
Weighted average years remaining until annuitization (in years)	2 years 6 months
GMIB | Direct Variable Annuity | Minimum
Net Amount at Risk by Product and Guarantee [Line Items]
Range of contractually specified interest rates (as a percent)	3.00%
GMIB | Direct Variable Annuity | Maximum
Net Amount at Risk by Product and Guarantee [Line Items]
Range of contractually specified interest rates (as a percent)	6.50%
GMIB | Deferred Variable Annuity
Net Amount at Risk by Product and Guarantee [Line Items]
General Account	$ 2,227
Net Amount at Risk, gross	$ 324
Average attained age of contract holders (in years)	71 years
Percentage of policyholders over age 70	59.50%
GMIB | Deferred Variable Annuity | Minimum
Net Amount at Risk by Product and Guarantee [Line Items]
Range of contractually specified interest rates (as a percent)	3.30%
GMIB | Deferred Variable Annuity | Maximum
Net Amount at Risk by Product and Guarantee [Line Items]
Range of contractually specified interest rates (as a percent)	6.50%
Return of Premium | GMDB | Direct Variable Annuity
Net Amount at Risk by Product and Guarantee [Line Items]
General Account	$ 15,155
Separate Accounts	48,407
Total Account Values	63,562
Net Amount at Risk, gross	125
Net Amount at Risk, net of amounts reinsured	$ 125
Average attained age of contract holders (in years)	51 years 3 months 18 days
Percentage of policyholders over age 70	11.00%
Return of Premium | GMDB | Deferred Variable Annuity
Net Amount at Risk by Product and Guarantee [Line Items]
General Account	$ 888
Net Amount at Risk, gross	$ 5
Average attained age of contract holders (in years)	68 years
Percentage of policyholders over age 70	45.90%
Return of Premium | GMIB | Direct Variable Annuity
Net Amount at Risk by Product and Guarantee [Line Items]
General Account	$ 0
Separate Accounts	0
Total Account Values	0
Net Amount at Risk, gross	0
Net Amount at Risk, net of amounts reinsured	0
Return of Premium | GMIB | Deferred Variable Annuity
Net Amount at Risk by Product and Guarantee [Line Items]
General Account	878
Net Amount at Risk, gross	$ 1
Average attained age of contract holders (in years)	72 years
Percentage of policyholders over age 70	65.00%
Ratchet | GMDB | Direct Variable Annuity
Net Amount at Risk by Product and Guarantee [Line Items]
General Account	$ 89
Separate Accounts	8,812
Total Account Values	8,901
Net Amount at Risk, gross	94
Net Amount at Risk, net of amounts reinsured	$ 91
Average attained age of contract holders (in years)	68 years 1 month 6 days
Percentage of policyholders over age 70	47.70%
Ratchet | GMDB | Deferred Variable Annuity
Net Amount at Risk by Product and Guarantee [Line Items]
General Account	$ 4,915
Net Amount at Risk, gross	$ 241
Average attained age of contract holders (in years)	73 years
Percentage of policyholders over age 70	65.60%
Ratchet | GMIB | Direct Variable Annuity
Net Amount at Risk by Product and Guarantee [Line Items]
General Account	$ 0
Separate Accounts	0
Total Account Values	0
Net Amount at Risk, gross	0
Net Amount at Risk, net of amounts reinsured	0
Ratchet | GMIB | Deferred Variable Annuity
Net Amount at Risk by Product and Guarantee [Line Items]
General Account	42
Net Amount at Risk, gross	$ 0
Average attained age of contract holders (in years)	74 years
Percentage of policyholders over age 70	62.20%
Roll-Up | GMDB | Direct Variable Annuity
Net Amount at Risk by Product and Guarantee [Line Items]
General Account	$ 57
Separate Accounts	3,021
Total Account Values	3,078
Net Amount at Risk, gross	1,864
Net Amount at Risk, net of amounts reinsured	$ 1,319
Average attained age of contract holders (in years)	74 years 8 months 12 days
Percentage of policyholders over age 70	69.80%
Roll-Up | GMDB | Direct Variable Annuity | Minimum
Net Amount at Risk by Product and Guarantee [Line Items]
Range of contractually specified interest rates (as a percent)	3.00%
Roll-Up | GMDB | Direct Variable Annuity | Maximum
Net Amount at Risk by Product and Guarantee [Line Items]
Range of contractually specified interest rates (as a percent)	6.00%
Roll-Up | GMDB | Deferred Variable Annuity
Net Amount at Risk by Product and Guarantee [Line Items]
General Account	$ 247
Net Amount at Risk, gross	$ 14
Average attained age of contract holders (in years)	78 years
Percentage of policyholders over age 70	79.90%
Roll-Up | GMDB | Deferred Variable Annuity | Minimum
Net Amount at Risk by Product and Guarantee [Line Items]
Range of contractually specified interest rates (as a percent)	3.00%
Roll-Up | GMDB | Deferred Variable Annuity | Maximum
Net Amount at Risk by Product and Guarantee [Line Items]
Range of contractually specified interest rates (as a percent)	10.00%
Roll-Up | GMIB | Direct Variable Annuity
Net Amount at Risk by Product and Guarantee [Line Items]
General Account	$ 17
Separate Accounts	23,124
Total Account Values	23,141
Net Amount at Risk, gross	1,100
Net Amount at Risk, net of amounts reinsured	$ 349
Average attained age of contract holders (in years)	64 years
Weighted average years remaining until annuitization (in years)	5 years 8 months 12 days
Roll-Up | GMIB | Direct Variable Annuity | Minimum
Net Amount at Risk by Product and Guarantee [Line Items]
Range of contractually specified interest rates (as a percent)	3.00%
Roll-Up | GMIB | Direct Variable Annuity | Maximum
Net Amount at Risk by Product and Guarantee [Line Items]
Range of contractually specified interest rates (as a percent)	6.00%
Roll-Up | GMIB | Deferred Variable Annuity
Net Amount at Risk by Product and Guarantee [Line Items]
General Account	$ 217
Net Amount at Risk, gross	$ 27
Average attained age of contract holders (in years)	72 years
Percentage of policyholders over age 70	61.90%
Roll-Up | GMIB | Deferred Variable Annuity | Minimum
Net Amount at Risk by Product and Guarantee [Line Items]
Range of contractually specified interest rates (as a percent)	3.30%
Roll-Up | GMIB | Deferred Variable Annuity | Maximum
Net Amount at Risk by Product and Guarantee [Line Items]
Range of contractually specified interest rates (as a percent)	6.50%
Combo | GMDB | Direct Variable Annuity
Net Amount at Risk by Product and Guarantee [Line Items]
General Account	$ 171
Separate Accounts	31,083
Total Account Values	31,254
Net Amount at Risk, gross	19,561
Net Amount at Risk, net of amounts reinsured	$ 19,561
Average attained age of contract holders (in years)	70 years
Percentage of policyholders over age 70	53.30%
Combo | GMDB | Direct Variable Annuity | Minimum
Net Amount at Risk by Product and Guarantee [Line Items]
Range of contractually specified interest rates (as a percent)	3.00%
Combo | GMDB | Direct Variable Annuity | Maximum
Net Amount at Risk by Product and Guarantee [Line Items]
Range of contractually specified interest rates (as a percent)	6.50%
Combo | GMDB | Deferred Variable Annuity
Net Amount at Risk by Product and Guarantee [Line Items]
General Account	$ 1,079
Net Amount at Risk, gross	$ 142
Average attained age of contract holders (in years)	76 years
Percentage of policyholders over age 70	76.10%
Combo | GMDB | Deferred Variable Annuity | Minimum
Net Amount at Risk by Product and Guarantee [Line Items]
Range of contractually specified interest rates (as a percent)	5.00%
Combo | GMDB | Deferred Variable Annuity | Maximum
Net Amount at Risk by Product and Guarantee [Line Items]
Range of contractually specified interest rates (as a percent)	10.00%
Combo | GMIB | Direct Variable Annuity
Net Amount at Risk by Product and Guarantee [Line Items]
General Account	$ 220
Separate Accounts	33,217
Total Account Values	33,437
Net Amount at Risk, gross	14,461
Net Amount at Risk, net of amounts reinsured	$ 13,066
Average attained age of contract holders (in years)	70 years
Weighted average years remaining until annuitization (in years)	8 months 12 days
Combo | GMIB | Direct Variable Annuity | Minimum
Net Amount at Risk by Product and Guarantee [Line Items]
Range of contractually specified interest rates (as a percent)	3.00%
Combo | GMIB | Direct Variable Annuity | Maximum
Net Amount at Risk by Product and Guarantee [Line Items]
Range of contractually specified interest rates (as a percent)	6.50%
Combo | GMIB | Deferred Variable Annuity
Net Amount at Risk by Product and Guarantee [Line Items]
General Account	$ 1,090
Net Amount at Risk, gross	$ 296
Average attained age of contract holders (in years)	70 years
Percentage of policyholders over age 70	54.50%
Combo | GMIB | Deferred Variable Annuity | Minimum
Net Amount at Risk by Product and Guarantee [Line Items]
Range of contractually specified interest rates (as a percent)	6.00%
Combo | GMIB | Deferred Variable Annuity | Maximum
Net Amount at Risk by Product and Guarantee [Line Items]
Range of contractually specified interest rates (as a percent)	6.00%

INSURANCE LIABILITIES - Separat

INSURANCE LIABILITIES - Separate Account Investments, Hedging Programs and Variable and Interest-Sensitive Live Insurance Policies (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
GMDB
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Separate Accounts	$ 91,323		$ 91,323		$ 94,489
GMIB
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Separate Accounts	56,341		56,341		59,348
Direct Liabilities For Guarantees
Movement in Liabilities for Guarantees on Long-Duration Contracts, Guaranteed Benefit Liability, Gross [Roll Forward]
Opening Balance	948	$ 845	898	$ 813
Paid guarantee benefits	(6)	(7)	(32)	(16)
Other changes in reserves	60	54	136	95
Closing Balance	1,002	$ 892	1,002	$ 892
Adjustment to Assets held-for-sale			22
Equity | GMDB
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Separate Accounts	41,259		41,259		42,489
Equity | GMIB
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Separate Accounts	16,739		16,739		17,941
Fixed income | GMDB
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Separate Accounts	5,371		5,371		5,263
Fixed income | GMIB
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Separate Accounts	2,679		2,679		2,699
Balanced | GMDB
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Separate Accounts	43,684		43,684		45,872
Balanced | GMIB
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Separate Accounts	36,656		36,656		38,445
Other | GMDB
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Separate Accounts	1,009		1,009		865
Other | GMIB
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Separate Accounts	$ 267		$ 267		$ 263

FAIR VALUE DISCLOSURES - Assets

FAIR VALUE DISCLOSURES - Assets and Liabilities Measured on Recurring Basis (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Investments:
Fixed maturities available for sale, at fair value	$ 79,379	$ 66,343
U.S. Treasury, government and agency
Investments:
Fixed maturities available for sale, at fair value	17,468	15,394
States and political subdivisions
Investments:
Fixed maturities available for sale, at fair value	878	705
Foreign governments
Investments:
Fixed maturities available for sale, at fair value	905	492
Residential mortgage-backed
Investments:
Fixed maturities available for sale, at fair value	160	191
Asset-backed
Investments:
Fixed maturities available for sale, at fair value	2,596	849
Commercial mortgage-backed
Investments:
Fixed maturities available for sale, at fair value	1,117
Redeemable preferred stock
Investments:
Fixed maturities available for sale, at fair value	443	513
Fair Value, Measurements, Recurring
Investments:
Fixed maturities available for sale, at fair value	79,379	66,343
Other equity investments	93	110
Trading securities, at fair value	6,244	7,031
Other invested assets:	4,502	4,146
Cash equivalents	7,372	3,497
Segregated securities	1,869	1,095
GMIB reinsurance contracts asset	2,818	2,139
Separate Accounts assets	122,856	126,324
Total Assets	225,133	210,685
Liabilities:
Contingent payment arrangements	30	23
Total Liabilities	14,845	11,803
Fair Value, Measurements, Recurring | Corporate
Investments:
Fixed maturities available for sale, at fair value	55,812	48,199
Fair Value, Measurements, Recurring | U.S. Treasury, government and agency
Investments:
Fixed maturities available for sale, at fair value	17,468	15,394
Fair Value, Measurements, Recurring | States and political subdivisions
Investments:
Fixed maturities available for sale, at fair value	878	705
Fair Value, Measurements, Recurring | Foreign governments
Investments:
Fixed maturities available for sale, at fair value	905	492
Fair Value, Measurements, Recurring | Residential mortgage-backed
Investments:
Fixed maturities available for sale, at fair value	160	191
Fair Value, Measurements, Recurring | Asset-backed
Investments:
Fixed maturities available for sale, at fair value	2,596	849
Fair Value, Measurements, Recurring | Commercial mortgage-backed
Investments:
Fixed maturities available for sale, at fair value	1,117
Fair Value, Measurements, Recurring | Redeemable preferred stock
Investments:
Fixed maturities available for sale, at fair value	443	513
Fair Value, Measurements, Recurring | Short-term investments
Investments:
Other invested assets:	126	490
Fair Value, Measurements, Recurring | Assets of consolidated VIEs/VOEs
Investments:
Other invested assets:	245	606
Fair Value, Measurements, Recurring | Swap
Investments:
Other invested assets:	1,368	(327)
Fair Value, Measurements, Recurring | Credit default swaps
Investments:
Other invested assets:	6	15
Fair Value, Measurements, Recurring | Future
Investments:
Other invested assets:	0
Fair Value, Measurements, Recurring | Options Held
Investments:
Other invested assets:	2,757	3,346
Fair Value, Measurements, Recurring | Swaption
Investments:
Other invested assets:	0	16
Fair Value, Measurements, Recurring | GMxB derivative features’ liability
Liabilities:
Guarantees	12,204	8,502
Fair Value, Measurements, Recurring | SCS, SIO, MSO and IUL indexed features liability
Liabilities:
Guarantees	2,606	3,268
Fair Value, Measurements, Recurring | Level 1
Investments:
Fixed maturities available for sale, at fair value	369	239
Other equity investments	20	13
Trading securities, at fair value	414	500
Other invested assets:	19	132
Cash equivalents	6,331	3,497
Segregated securities	0	0
GMIB reinsurance contracts asset	0	0
Separate Accounts assets	120,418	123,432
Total Assets	127,571	127,813
Liabilities:
Contingent payment arrangements	0	0
Total Liabilities	0	1
Fair Value, Measurements, Recurring | Level 1 | Corporate
Investments:
Fixed maturities available for sale, at fair value	0	0
Fair Value, Measurements, Recurring | Level 1 | U.S. Treasury, government and agency
Investments:
Fixed maturities available for sale, at fair value	0	0
Fair Value, Measurements, Recurring | Level 1 | States and political subdivisions
Investments:
Fixed maturities available for sale, at fair value	0	0
Fair Value, Measurements, Recurring | Level 1 | Foreign governments
Investments:
Fixed maturities available for sale, at fair value	0	0
Fair Value, Measurements, Recurring | Level 1 | Residential mortgage-backed
Investments:
Fixed maturities available for sale, at fair value	0	0
Fair Value, Measurements, Recurring | Level 1 | Asset-backed
Investments:
Fixed maturities available for sale, at fair value	0	0
Fair Value, Measurements, Recurring | Level 1 | Commercial mortgage-backed
Investments:
Fixed maturities available for sale, at fair value	0
Fair Value, Measurements, Recurring | Level 1 | Redeemable preferred stock
Investments:
Fixed maturities available for sale, at fair value	369	239
Fair Value, Measurements, Recurring | Level 1 | Short-term investments
Investments:
Other invested assets:	0	0
Fair Value, Measurements, Recurring | Level 1 | Assets of consolidated VIEs/VOEs
Investments:
Other invested assets:	19	132
Fair Value, Measurements, Recurring | Level 1 | Swap
Investments:
Other invested assets:	0	0
Fair Value, Measurements, Recurring | Level 1 | Credit default swaps
Investments:
Other invested assets:	0	0
Fair Value, Measurements, Recurring | Level 1 | Future
Investments:
Other invested assets:	0
Fair Value, Measurements, Recurring | Level 1 | Options Held
Investments:
Other invested assets:	0	0
Fair Value, Measurements, Recurring | Level 1 | Swaption
Investments:
Other invested assets:	0	0
Fair Value, Measurements, Recurring | Level 1 | GMxB derivative features’ liability
Liabilities:
Guarantees	0	0
Fair Value, Measurements, Recurring | Level 1 | SCS, SIO, MSO and IUL indexed features liability
Liabilities:
Guarantees	0	0
Fair Value, Measurements, Recurring | Level 2
Investments:
Fixed maturities available for sale, at fair value	77,464	64,708
Other equity investments	0	0
Trading securities, at fair value	5,778	6,495
Other invested assets:	4,470	3,997
Cash equivalents	1,041	0
Segregated securities	1,869	1,095
GMIB reinsurance contracts asset	0	0
Separate Accounts assets	2,438	2,892
Total Assets	93,060	79,187
Liabilities:
Contingent payment arrangements	0	0
Total Liabilities	2,611	3,277
Fair Value, Measurements, Recurring | Level 2 | Corporate
Investments:
Fixed maturities available for sale, at fair value	54,318	46,942
Fair Value, Measurements, Recurring | Level 2 | U.S. Treasury, government and agency
Investments:
Fixed maturities available for sale, at fair value	17,468	15,394
Fair Value, Measurements, Recurring | Level 2 | States and political subdivisions
Investments:
Fixed maturities available for sale, at fair value	839	666
Fair Value, Measurements, Recurring | Level 2 | Foreign governments
Investments:
Fixed maturities available for sale, at fair value	905	492
Fair Value, Measurements, Recurring | Level 2 | Residential mortgage-backed
Investments:
Fixed maturities available for sale, at fair value	160	191
Fair Value, Measurements, Recurring | Level 2 | Asset-backed
Investments:
Fixed maturities available for sale, at fair value	2,583	749
Fair Value, Measurements, Recurring | Level 2 | Commercial mortgage-backed
Investments:
Fixed maturities available for sale, at fair value	1,117
Fair Value, Measurements, Recurring | Level 2 | Redeemable preferred stock
Investments:
Fixed maturities available for sale, at fair value	74	274
Fair Value, Measurements, Recurring | Level 2 | Short-term investments
Investments:
Other invested assets:	126	490
Fair Value, Measurements, Recurring | Level 2 | Assets of consolidated VIEs/VOEs
Investments:
Other invested assets:	213	457
Fair Value, Measurements, Recurring | Level 2 | Swap
Investments:
Other invested assets:	1,368	(327)
Fair Value, Measurements, Recurring | Level 2 | Credit default swaps
Investments:
Other invested assets:	6	15
Fair Value, Measurements, Recurring | Level 2 | Future
Investments:
Other invested assets:	0
Fair Value, Measurements, Recurring | Level 2 | Options Held
Investments:
Other invested assets:	2,757	3,346
Fair Value, Measurements, Recurring | Level 2 | Swaption
Investments:
Other invested assets:	0	16
Fair Value, Measurements, Recurring | Level 2 | GMxB derivative features’ liability
Liabilities:
Guarantees	0	0
Fair Value, Measurements, Recurring | Level 2 | SCS, SIO, MSO and IUL indexed features liability
Liabilities:
Guarantees	2,606	3,268
Fair Value, Measurements, Recurring | Level 3
Investments:
Fixed maturities available for sale, at fair value	1,546	1,396
Other equity investments	73	97
Trading securities, at fair value	52	36
Other invested assets:	13	17
Cash equivalents	0	0
Segregated securities	0	0
GMIB reinsurance contracts asset	2,818	2,139
Separate Accounts assets	0	0
Total Assets	4,502	3,685
Liabilities:
Contingent payment arrangements	30	23
Total Liabilities	12,234	8,525
Fair Value, Measurements, Recurring | Level 3 | Corporate
Investments:
Fixed maturities available for sale, at fair value	1,494	1,257
Fair Value, Measurements, Recurring | Level 3 | U.S. Treasury, government and agency
Investments:
Fixed maturities available for sale, at fair value	0	0
Fair Value, Measurements, Recurring | Level 3 | States and political subdivisions
Investments:
Fixed maturities available for sale, at fair value	39	39
Fair Value, Measurements, Recurring | Level 3 | Foreign governments
Investments:
Fixed maturities available for sale, at fair value	0	0
Fair Value, Measurements, Recurring | Level 3 | Residential mortgage-backed
Investments:
Fixed maturities available for sale, at fair value	0	0
Fair Value, Measurements, Recurring | Level 3 | Asset-backed
Investments:
Fixed maturities available for sale, at fair value	13	100
Fair Value, Measurements, Recurring | Level 3 | Commercial mortgage-backed
Investments:
Fixed maturities available for sale, at fair value	0
Fair Value, Measurements, Recurring | Level 3 | Redeemable preferred stock
Investments:
Fixed maturities available for sale, at fair value	0	0
Fair Value, Measurements, Recurring | Level 3 | Short-term investments
Investments:
Other invested assets:	0	0
Fair Value, Measurements, Recurring | Level 3 | Assets of consolidated VIEs/VOEs
Investments:
Other invested assets:	13	17
Fair Value, Measurements, Recurring | Level 3 | Swap
Investments:
Other invested assets:	0	0
Fair Value, Measurements, Recurring | Level 3 | Credit default swaps
Investments:
Other invested assets:	0	0
Fair Value, Measurements, Recurring | Level 3 | Future
Investments:
Other invested assets:	0
Fair Value, Measurements, Recurring | Level 3 | Options Held
Investments:
Other invested assets:	0	0
Fair Value, Measurements, Recurring | Level 3 | Swaption
Investments:
Other invested assets:	0	0
Fair Value, Measurements, Recurring | Level 3 | GMxB derivative features’ liability
Liabilities:
Guarantees	12,204	8,502
Fair Value, Measurements, Recurring | Level 3 | SCS, SIO, MSO and IUL indexed features liability
Liabilities:
Guarantees	0	0
Fair Value, Measurements, Recurring | NAV
Investments:
Separate Accounts assets	356	356
Variable Interest Entity, Primary Beneficiary | Fair Value, Measurements, Recurring
Liabilities:
Guarantees	5	10
Variable Interest Entity, Primary Beneficiary | Fair Value, Measurements, Recurring | Level 1
Liabilities:
Guarantees	0	1
Variable Interest Entity, Primary Beneficiary | Fair Value, Measurements, Recurring | Level 2
Liabilities:
Guarantees	5	9
Variable Interest Entity, Primary Beneficiary | Fair Value, Measurements, Recurring | Level 3
Liabilities:
Guarantees	$ 0	$ 0

FAIR VALUE DISCLOSURES - Narrat

FAIR VALUE DISCLOSURES - Narrative (Details) - USD ($) $ in Millions	9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Fair value adjustments on GMIB asset	$ 161		$ 110
Fair value adjustments on GMIB liability	29		25
AFS fixed maturities transferred from Level 3 to Level 2	103	$ 104
AFS fixed maturities transferred from Level 3 to Level 2	$ 195	$ 14
Fair value measurement with unobservable inputs reconciliation recurring basis asset transfers percentage	1.60%	0.70%
Level 3 | Alliance Bernstein
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Business combination, contingent consideration, liability	$ 30		23
Level 3 | Alliance Bernstein | Long-term revenue growth rate | Minimum
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Contingent payment arrangement, measurement input	0.70%
Level 3 | Alliance Bernstein | Long-term revenue growth rate | Maximum
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Contingent payment arrangement, measurement input	50.00%
Level 3 | Alliance Bernstein | Long-term revenue growth rate | Weighted Average
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Contingent payment arrangement, measurement input	4.90%
Level 3 | Alliance Bernstein | Discount rate | Minimum
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Contingent payment arrangement, measurement input	1.90%
Level 3 | Alliance Bernstein | Discount rate | Maximum
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Contingent payment arrangement, measurement input	10.40%
Level 3 | Alliance Bernstein | Discount rate | Weighted Average
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Contingent payment arrangement, measurement input	8.00%
Nonrecurring | Level 3
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Investments, fair value disclosure	$ 507		428
Fair Value, Measurements, Recurring
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Business combination, contingent consideration, liability	30		23
Fair Value, Measurements, Recurring | Level 3
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Business combination, contingent consideration, liability	$ 30		$ 23

FAIR VALUE DISCLOSURES - Fair V

FAIR VALUE DISCLOSURES - Fair Value Measurement Reconciliation for All Levels (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Total gains (losses), realized and unrealized, included in:
Investment gains (losses), net			$ 287	$ 176
Transfers into level 3			195	14
Transfers out of level 3			(103)	(104)
Corporate
Total gains (losses), realized and unrealized, included in:
Investment gains (losses), net			0	0
OCI			(37)	3
Corporate | Level 3
Total gains (losses), realized and unrealized, included in:
Beginning Balance	$ 1,685	$ 1,302	1,257	1,186
Net investment income (loss)	0	0	2	3
Investment gains (losses), net	(1)	0	(14)	0
Total realized and unrealized gains (losses)	(1)	0	(12)	3
OCI	18	(6)	(36)	4
Purchases	(155)	(3)	207	219
Sales	(24)	(42)	(114)	(102)
Transfers into level 3	(29)	0	195	14
Transfers out of level 3	0	(31)	(3)	(104)
Ending Balance	1,494	1,220	1,494	1,220
States and political subdivisions
Total gains (losses), realized and unrealized, included in:
Investment gains (losses), net			0	0
OCI			2	3
States and political subdivisions | Level 3
Total gains (losses), realized and unrealized, included in:
Beginning Balance	40	40	39	39
Net investment income (loss)	0	0	0	0
Investment gains (losses), net	0	1	0	1
Total realized and unrealized gains (losses)	0	1	0	1
OCI	(1)	0	1	2
Purchases	0	0	0	0
Sales	0	(2)	(1)	(3)
Transfers into level 3	0	0	0	0
Transfers out of level 3	0	0	0	0
Ending Balance	39	39	39	39
Asset-backed
Total gains (losses), realized and unrealized, included in:
Investment gains (losses), net			0	0
OCI			0	4
Asset-backed | Level 3
Total gains (losses), realized and unrealized, included in:
Beginning Balance	0	534	100	519
Net investment income (loss)	0	0	0	0
Investment gains (losses), net	0	0	0	0
Total realized and unrealized gains (losses)	0	0	0	0
OCI	0	0	0	5
Purchases	13	71	13	81
Sales	0	(73)	0	(73)
Transfers into level 3	0	0	0	0
Transfers out of level 3	0	0	(100)	0
Ending Balance	13	532	13	532
Other equity investments | Level 3
Total gains (losses), realized and unrealized, included in:
Beginning Balance	132	134	150	165
Net investment income (loss)	7	0
Investment gains (losses), net			14	0
Net derivative gains (losses)	0	0	0	0
Total realized and unrealized gains (losses)	7	0	14	0
OCI	(4)	0	(21)	0
Purchases	21	2	25	10
Sales	(14)	(4)	(26)	(11)
Settlements	0	0	0	0
Change in estimate			0	0
Activity related to consolidated VIEs/VOEs	(3)	0	(4)	(3)
Transfers into level 3	0	0	1	0
Transfers out of level 3	0	(4)	0	(33)
Ending Balance	139	128	139	128
GMIB Reinsurance Contract Asset
Total gains (losses), realized and unrealized, included in:
Investment gains (losses), net			0	0
OCI			0	0
Non-performance Risk	(8)		(33)
GMIB Reinsurance Contract Asset | Level 3
Total gains (losses), realized and unrealized, included in:
Beginning Balance	2,931	1,898	2,139	1,734
Net investment income (loss)	0	0
Investment gains (losses), net			0	0
Net derivative gains (losses)	(103)	563	736	740
Total realized and unrealized gains (losses)	(103)	563	736	740
OCI	0	0	0	0
Purchases	11	11	33	33
Sales	(21)	(20)	(58)	(55)
Settlements	0	0	0	0
Change in estimate			(32)	0
Activity related to consolidated VIEs/VOEs	0	0	0	0
Transfers into level 3	0	0	0	0
Transfers out of level 3	0	0	0	0
Ending Balance	2,818	2,452	2,818	2,452
Separate Accounts Assets | Level 3
Total gains (losses), realized and unrealized, included in:
Beginning Balance	0	25	0	21
Net investment income (loss)	0	0
Investment gains (losses), net			0	0
Net derivative gains (losses)	0	0	0	0
Total realized and unrealized gains (losses)	0	0	0	0
OCI	0	0	0	0
Purchases	0	(5)	0	3
Sales	0	(1)	0	(1)
Settlements	0	(1)	0	(4)
Change in estimate			0	0
Activity related to consolidated VIEs/VOEs	0	0	0	0
Transfers into level 3	0	0	0	0
Transfers out of level 3	0	(11)	0	(12)
Ending Balance	0	7	0	7
GMxB Derivative Features Liability
Total gains (losses), realized and unrealized, included in:
Non-performance Risk	(464)		42
GMxB Derivative Features Liability | Level 3
Total gains (losses), realized and unrealized, included in:
Beginning Balance	(12,689)	(7,004)	(8,502)	(5,674)
Net investment income (loss)	0	0
Investment gains (losses), net			0	0
Net derivative gains (losses)	579	(2,548)	(3,421)	(3,677)
Total realized and unrealized gains (losses)	579	(2,548)	(3,421)	(3,677)
OCI	0	0	0	0
Purchases	(115)	(102)	(335)	(317)
Sales	21	13	54	27
Settlements	0	0	0	0
Change in estimate			0	0
Activity related to consolidated VIEs/VOEs	0	0	0	0
Transfers into level 3	0	0	0	0
Transfers out of level 3	0	0	0	0
Ending Balance	(12,204)	(9,641)	(12,204)	(9,641)
Contingent Payment Arrangement | Level 3
Total gains (losses), realized and unrealized, included in:
Beginning Balance	(28)	(25)	(23)	(7)
Net investment income (loss)	0	0
Investment gains (losses), net			0	0
Net derivative gains (losses)	0	0	0	0
Total realized and unrealized gains (losses)	0	0	0	0
OCI	0	0	0	0
Purchases	0	0	(4)	(17)
Sales	0	0	0	0
Settlements	0	0	0	0
Change in estimate			0	0
Activity related to consolidated VIEs/VOEs	(1)	(1)	(2)	(2)
Transfers into level 3	0	0	0	0
Transfers out of level 3	0	0	0	0
Ending Balance	$ (29)	$ (26)	$ (29)	$ (26)

FAIR VALUE DISCLOSURES - Unreal

FAIR VALUE DISCLOSURES - Unrealized Gains (Losses) for Level 3 Instruments (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment gains (losses), net	$ 287	$ 176
Level 3 Assets And Liabilities Held
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment gains (losses), net	0	(1)
Net Derivative Gains (Losses)	(9,386)	(2,937)
OCI	(35)	10
Corporate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment gains (losses), net	0	0
Net Derivative Gains (Losses)	0	0
OCI	(37)	3
States and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment gains (losses), net	0	0
Net Derivative Gains (Losses)	0	0
OCI	2	3
Asset-backed
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment gains (losses), net	0	0
Net Derivative Gains (Losses)	0	0
OCI	0	4
Fixed maturities, AFS
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment gains (losses), net	0	0
Net Derivative Gains (Losses)	0	0
OCI	(35)	10
GMIB Reinsurance Contract Asset
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment gains (losses), net	0	0
Net Derivative Gains (Losses)	2,818	740
OCI	0	0
Separate Account assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment gains (losses), net	0	(1)
Net Derivative Gains (Losses)		0
OCI		0
GMxB derivative features liability
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment gains (losses), net	0	0
Net Derivative Gains (Losses)	(12,204)	(3,677)
OCI	$ 0	$ 0

FAIR VALUE DISCLOSURES - Quanti

FAIR VALUE DISCLOSURES - Quantitative Information about Level 3 (Details) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2020USD ($)	Dec. 31, 2019USD ($)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Asset, fair value	$ 10,217	$ 7,993
Corporate | Level 3 | Matrix pricing model
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value Unobservable Inputs	$ 31	$ 57
Corporate | Level 3 | Matrix pricing model | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Spread over Benchmark	0.022	0.0065
Corporate | Level 3 | Matrix pricing model | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Spread over Benchmark	0.061	0.058
Corporate | Level 3 | Matrix pricing model | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Spread over Benchmark	0.00000278	0.0184
Corporate | Level 3 | Market comparable companies
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value Unobservable Inputs	$ 1,105	$ 1,025
Corporate | EBITDA Multiple | Level 3 | Market comparable companies | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Equity securities, measurement input	3.5	3.3
Corporate | EBITDA Multiple | Level 3 | Market comparable companies | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Equity securities, measurement input	31.8	56.7
Corporate | EBITDA Multiple | Level 3 | Market comparable companies | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Equity securities, measurement input	14.4	14.3
Corporate | Discount rate | Level 3 | Market comparable companies | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Equity securities, measurement input	0.051	0.039
Corporate | Discount rate | Level 3 | Market comparable companies | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Equity securities, measurement input	0.254	0.165
Corporate | Discount rate | Level 3 | Market comparable companies | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Equity securities, measurement input	0.10	0.100
Corporate | Cash Flow Multiples | Level 3 | Market comparable companies | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Equity securities, measurement input	0.9	0.8
Corporate | Cash Flow Multiples | Level 3 | Market comparable companies | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Equity securities, measurement input	25	48.1
Corporate | Cash Flow Multiples | Level 3 | Market comparable companies | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Equity securities, measurement input	10.7	10.7
Other equity investments | Level 3 | Market comparable companies
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value Unobservable Inputs	$ 4
Other equity investments | Level 3 | Discounted cash flow
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value Unobservable Inputs	$ 37	$ 36
Fair value inputs, discount period	11 years	11 years
Other equity investments | Discount rate | Level 3 | Discounted cash flow
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Equity securities, measurement input	0.100
Other equity investments | Earnings Multiple | Level 3 | Market comparable companies | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Equity securities, measurement input	3.5
Other equity investments | Earnings Multiple | Level 3 | Market comparable companies | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Equity securities, measurement input	27.9
Other equity investments | Earnings Multiple | Level 3 | Market comparable companies | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Equity securities, measurement input	9.5
Other equity investments | Earnings Multiple | Level 3 | Discounted cash flow
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Equity securities, measurement input	8	8
Other equity investments | Discount factor | Level 3 | Discounted cash flow
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Equity securities, measurement input		0.100
GMIB reinsurance contracts | Level 3 | Discounted cash flow
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Asset, fair value	$ 2,818	$ 2,139
GMIB reinsurance contracts | Non-performance risk | Level 3 | Discounted cash flow | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing asset, measurement input	0.006	0.0055
GMIB reinsurance contracts | Non-performance risk | Level 3 | Discounted cash flow | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing asset, measurement input	0.0125	0.0109
GMIB reinsurance contracts | Non-performance risk | Level 3 | Discounted cash flow | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing asset, measurement input	0.0072
GMIB reinsurance contracts | Lapse rates | Level 3 | Discounted cash flow | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing asset, measurement input	0.006	0.008
GMIB reinsurance contracts | Lapse rates | Level 3 | Discounted cash flow | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing asset, measurement input	0.16	0.100
GMIB reinsurance contracts | Lapse rates | Level 3 | Discounted cash flow | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing asset, measurement input	0.0156
GMIB reinsurance contracts | Withdrawal rates | Level 3 | Discounted cash flow | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing asset, measurement input	0	0
GMIB reinsurance contracts | Withdrawal rates | Level 3 | Discounted cash flow | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing asset, measurement input	0.02	0.080
GMIB reinsurance contracts | Withdrawal rates | Level 3 | Discounted cash flow | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing asset, measurement input	0.0096
GMIB reinsurance contracts | Utilization Rate | Level 3 | Discounted cash flow | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing asset, measurement input	0	0
GMIB reinsurance contracts | Utilization Rate | Level 3 | Discounted cash flow | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing asset, measurement input	0.61	0.49
GMIB reinsurance contracts | Utilization Rate | Level 3 | Discounted cash flow | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing asset, measurement input	0.0637
GMIB reinsurance contracts | Volatility rates - Equity | Level 3 | Discounted cash flow | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing asset, measurement input	0.16	0.090
GMIB reinsurance contracts | Volatility rates - Equity | Level 3 | Discounted cash flow | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing asset, measurement input	0.34	0.300
GMIB reinsurance contracts | Volatility rates - Equity | Level 3 | Discounted cash flow | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing asset, measurement input	0.25
GMIB reinsurance contracts | Mortality rate | Level 3 | Discounted cash flow | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing asset, measurement input	0.0272
GMIBNLG | Level 3 | Discounted cash flow
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liability, fair value	$ 11,682	$ 8,135
GMIBNLG | Non-performance risk | Level 3 | Discounted cash flow
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.0141	0.0124
GMIBNLG | Lapse rates | Level 3 | Discounted cash flow | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.011	0.008
GMIBNLG | Lapse rates | Level 3 | Discounted cash flow | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.257	0.199
GMIBNLG | Lapse rates | Level 3 | Discounted cash flow | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.0306
GMIBNLG | Withdrawal rates | Level 3 | Discounted cash flow | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.004	0.003
GMIBNLG | Withdrawal rates | Level 3 | Discounted cash flow | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.020	0.110
GMIBNLG | Withdrawal rates | Level 3 | Discounted cash flow | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.0096
GMIBNLG | Annuitization | Level 3 | Discounted cash flow | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0	0
GMIBNLG | Annuitization | Level 3 | Discounted cash flow | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	1	1
GMIBNLG | Annuitization | Level 3 | Discounted cash flow | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.0592
GMIBNLG | Mortality rate | Level 3 | Discounted cash flow | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.0148
Assumed GMIB Reinsurance Contracts | Level 3 | Discounted cash flow
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liability, fair value	$ 219	$ 186
Assumed GMIB Reinsurance Contracts | Non-performance risk | Level 3 | Discounted cash flow | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.0092	0.0061
Assumed GMIB Reinsurance Contracts | Non-performance risk | Level 3 | Discounted cash flow | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.0195	0.0141
Assumed GMIB Reinsurance Contracts | Non-performance risk | Level 3 | Discounted cash flow | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.0147
Assumed GMIB Reinsurance Contracts | Lapse rates | Level 3 | Discounted cash flow | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.011	0.011
Assumed GMIB Reinsurance Contracts | Lapse rates | Level 3 | Discounted cash flow | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.111	0.111
Assumed GMIB Reinsurance Contracts | Lapse rates | Level 3 | Discounted cash flow | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.0156
Assumed GMIB Reinsurance Contracts | Withdrawal rates | Level 3 | Discounted cash flow | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.006	0.006
Assumed GMIB Reinsurance Contracts | Withdrawal rates | Level 3 | Discounted cash flow | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.222	0.222
Assumed GMIB Reinsurance Contracts | Withdrawal rates | Level 3 | Discounted cash flow | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.011	0.011
Assumed GMIB Reinsurance Contracts | Withdrawal rates | Level 3 | Discounted cash flow | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	1	1
Assumed GMIB Reinsurance Contracts | Withdrawal rates | Level 3 | Discounted cash flow | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.0096
Assumed GMIB Reinsurance Contracts | Utilization Rate | Level 3 | Discounted cash flow | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0	0
Assumed GMIB Reinsurance Contracts | Utilization Rate | Level 3 | Discounted cash flow | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.30	0.30
Assumed GMIB Reinsurance Contracts | Utilization Rate | Level 3 | Discounted cash flow | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.0637
Assumed GMIB Reinsurance Contracts | Volatility rates - Equity | Level 3 | Discounted cash flow | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.140	0.09
Assumed GMIB Reinsurance Contracts | Volatility rates - Equity | Level 3 | Discounted cash flow | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.340	0.30
Assumed GMIB Reinsurance Contracts | Volatility rates - Equity | Level 3 | Discounted cash flow | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.25
GWBL/GMWB | Level 3 | Discounted cash flow
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liability, fair value	$ 220	$ 172
GWBL/GMWB | Non-performance risk | Level 3 | Discounted cash flow
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.0141	0.0124
GWBL/GMWB | Lapse rates | Level 3 | Discounted cash flow | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.008	0.008
GWBL/GMWB | Lapse rates | Level 3 | Discounted cash flow | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.16	0.100
GWBL/GMWB | Lapse rates | Level 3 | Discounted cash flow | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.0156
GWBL/GMWB | Withdrawal rates | Level 3 | Discounted cash flow | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0	0
GWBL/GMWB | Withdrawal rates | Level 3 | Discounted cash flow | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.080	0.070
GWBL/GMWB | Withdrawal rates | Level 3 | Discounted cash flow | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.0096
GWBL/GMWB | Utilization Rate | Level 3 | Discounted cash flow
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	1	1
GWBL/GMWB | Volatility rates - Equity | Level 3 | Discounted cash flow | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.160	0.090
GWBL/GMWB | Volatility rates - Equity | Level 3 | Discounted cash flow | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.340	0.300
GWBL/GMWB | Volatility rates - Equity | Level 3 | Discounted cash flow | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.2457
GIB | Level 3 | Discounted cash flow
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liability, fair value	$ 77	$ 5
GIB | Non-performance risk | Level 3 | Discounted cash flow
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.0141	0.0124
GIB | Lapse rates | Level 3 | Discounted cash flow | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.008	0.012
GIB | Lapse rates | Level 3 | Discounted cash flow | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.156	0.199
GIB | Lapse rates | Level 3 | Discounted cash flow | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.0156
GIB | Withdrawal rates | Level 3 | Discounted cash flow | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0	0
GIB | Withdrawal rates | Level 3 | Discounted cash flow | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.020	0.080
GIB | Withdrawal rates | Level 3 | Discounted cash flow | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.0096
GIB | Utilization Rate | Level 3 | Discounted cash flow | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0	0
GIB | Utilization Rate | Level 3 | Discounted cash flow | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	1	1
GIB | Utilization Rate | Level 3 | Discounted cash flow | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.0637
GIB | Volatility rates - Equity | Level 3 | Discounted cash flow | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.160	0.090
GIB | Volatility rates - Equity | Level 3 | Discounted cash flow | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.340	0.300
GIB | Volatility rates - Equity | Level 3 | Discounted cash flow | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.25
GMAB | Level 3 | Discounted cash flow
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liability, fair value	$ 6	$ 4
GMAB | Non-performance risk | Level 3 | Discounted cash flow
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.0141
GMAB | Lapse rates | Level 3 | Discounted cash flow | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.008	0.01
GMAB | Lapse rates | Level 3 | Discounted cash flow | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.160	0.100
GMAB | Lapse rates | Level 3 | Discounted cash flow | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.0156
GMAB | Volatility rates - Equity | Level 3 | Discounted cash flow | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.160	0.09
GMAB | Volatility rates - Equity | Level 3 | Discounted cash flow | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.340	0.300
GMAB | Volatility rates - Equity | Level 3 | Discounted cash flow | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.25
Ages 0 - 40 | GMIB reinsurance contracts | Mortality rate | Level 3 | Discounted cash flow | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing asset, measurement input	0.0001	0.0001
Ages 0 - 40 | GMIB reinsurance contracts | Mortality rate | Level 3 | Discounted cash flow | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing asset, measurement input	0.0018	0.0018
Ages 0 - 40 | GMIBNLG | Mortality rate | Level 3 | Discounted cash flow | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.0001	0.0001
Ages 0 - 40 | GMIBNLG | Mortality rate | Level 3 | Discounted cash flow | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.0019	0.0019
Ages 41 - 60 | GMIB reinsurance contracts | Mortality rate | Level 3 | Discounted cash flow | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing asset, measurement input	0.0007	0.0007
Ages 41 - 60 | GMIB reinsurance contracts | Mortality rate | Level 3 | Discounted cash flow | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing asset, measurement input	0.0054	0.0054
Ages 41 - 60 | GMIBNLG | Mortality rate | Level 3 | Discounted cash flow | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.0006	0.0006
Ages 41 - 60 | GMIBNLG | Mortality rate | Level 3 | Discounted cash flow | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.0053	0.0053
Ages 61 - 115 | GMIB reinsurance contracts | Mortality rate | Level 3 | Discounted cash flow | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing asset, measurement input	0.0042	0.0042
Ages 61 - 115 | GMIB reinsurance contracts | Mortality rate | Level 3 | Discounted cash flow | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing asset, measurement input	0.422	0.4220
Ages 61 - 115 | GMIBNLG | Mortality rate | Level 3 | Discounted cash flow | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.0041	0.0041
Ages 61 - 115 | GMIBNLG | Mortality rate | Level 3 | Discounted cash flow | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.4139	0.4139

FAIR VALUE DISCLOSURES - Carryi

FAIR VALUE DISCLOSURES - Carrying Values and Fair Values of Financial Instruments (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Consolidated Amounts [Abstract]
Mortgage loans on real estate	$ 12,802	$ 12,107
Policy loans	4,123	3,735
Policyholders liabilities: Investment contracts	62,726	58,879
Separate Accounts liabilities	123,446	126,910
Carrying Value
Consolidated Amounts [Abstract]
Mortgage loans on real estate	12,802	12,107
Policy loans	4,123	3,735
Policyholders liabilities: Investment contracts	2,195	2,056
FHLB funding agreements	6,848	6,909
FABN funding agreements	1,143
Short-term and long-term debt	4,114	4,111
Separate Accounts liabilities	9,000	9,041
Measured at Fair Value
Consolidated Amounts [Abstract]
Mortgage loans on real estate	13,049	12,334
Policy loans	5,232	4,707
Policyholders liabilities: Investment contracts	2,425	2,167
FHLB funding agreements	6,940	6,957
FABN funding agreements	1,168
Short-term and long-term debt	4,750	4,476
Separate Accounts liabilities	9,000	9,041
Measured at Fair Value | Level 1
Consolidated Amounts [Abstract]
Mortgage loans on real estate	0	0
Policy loans	0	0
Policyholders liabilities: Investment contracts	0	0
FHLB funding agreements	0	0
FABN funding agreements	0
Short-term and long-term debt	0	0
Separate Accounts liabilities	0	0
Measured at Fair Value | Level 2
Consolidated Amounts [Abstract]
Mortgage loans on real estate	0	0
Policy loans	0	0
Policyholders liabilities: Investment contracts	0	0
FHLB funding agreements	6,940	6,957
FABN funding agreements	1,168
Short-term and long-term debt	4,750	4,476
Separate Accounts liabilities	0	0
Measured at Fair Value | Level 3
Consolidated Amounts [Abstract]
Mortgage loans on real estate	13,049	12,334
Policy loans	5,232	4,707
Policyholders liabilities: Investment contracts	2,425	2,167
FHLB funding agreements	0	0
FABN funding agreements	0
Short-term and long-term debt	0	0
Separate Accounts liabilities	$ 9,000	$ 9,041

EMPLOYEE BENEFIT PLANS - Compon

EMPLOYEE BENEFIT PLANS - Components of Certain Benefit Costs (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Retirement Benefits [Abstract]
Service cost	$ 3	$ 2	$ 7	$ 8
Interest cost	23	30	68	91
Expected return on assets	(36)	(37)	(110)	(114)
Actuarial (gain) loss	0	0	1	1
Net amortization	27	26	82	74
Impact of settlement	4	0	4	0
Net periodic pension expense	$ 21	$ 21	$ 52	$ 60

EQUITY - Preferred Stock Activi

EQUITY - Preferred Stock Activity (Details) - shares	Sep. 30, 2020	Dec. 31, 2019
Class of Stock [Line Items]
Preferred stock, shares authorized (in shares)	52,000	32,000
Preferred stock, shares issued (in shares)	52,000	32,000
Preferred stock, shares outstanding (in shares)	52,000	32,000
Series A
Class of Stock [Line Items]
Preferred stock, shares authorized (in shares)	32,000	32,000
Preferred stock, shares issued (in shares)	32,000	32,000
Preferred stock, shares outstanding (in shares)	32,000	32,000
Series B
Class of Stock [Line Items]
Preferred stock, shares authorized (in shares)	20,000	0
Preferred stock, shares issued (in shares)	20,000	0
Preferred stock, shares outstanding (in shares)	20,000	0

EQUITY - Preferred Stock Series

EQUITY - Preferred Stock Series B (Details) - USD ($) $ / shares in Units, $ in Millions	Dec. 15, 2025	Aug. 11, 2020	Sep. 30, 2020	Dec. 31, 2019
Class of Stock [Line Items]
Preferred stock par value (in dollars per share)			$ 1	$ 1
Payments of stock issuance costs		$ 6
Series B
Class of Stock [Line Items]
Depositary stock, shares issued (in shares)		500,000
Conversion to preferred stock from depositary stock (in shares)		0.04
Preferred stock par value (in dollars per share)		$ 1
Liquidation preference in preferred stock (in usd per share)		$ 25,000
Sale of stock, consideration received per transaction, net		$ 494
Sale of stock, consideration received per transaction		$ 500
Preferred stock, dividend rate, percentage		4.95%
Preferred stock, dividend rate, reassessment period		5 years
Preferred stock, redemption price per share (in usd per share)		$ 25,000
Preferred stock, redemption price, rating agency period		90 days
Preferred stock, redemption price, rating agency per share (in usd per share)		$ 25,500
Preferred stock, redemption price, regulatory capital per share (in usd per share)		$ 25,000
Series B | Forecast
Class of Stock [Line Items]
Preferred stock, basis spread, percentage	4.736%

EQUITY - Dividends Declared (De

EQUITY - Dividends Declared (Details) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Class of Stock [Line Items]
Cash dividends declared per common share (in usd per share)	$ 0.17	$ 0.15	$ 0.49	$ 0.43
Series A
Class of Stock [Line Items]
Cash dividends declared per depository share (in usd per share)	328.13	0	1,049.99	0
Series B
Class of Stock [Line Items]
Cash dividends declared per depository share (in usd per share)	$ 0	$ 0	$ 0	$ 0

EQUITY - Share Repurchase (Deta

EQUITY - Share Repurchase (Details) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020	Feb. 26, 2020	Nov. 06, 2019
Equity [Abstract]
Share repurchase plan, authorized amount			$ 600,000,000	$ 400,000,000
Stock repurchase program, number of shares authorized to be repurchased	1,000,000,000	1,000,000,000
Shares repurchased (in shares)	4,700,000	19,700,000
Stock repurchase program, remaining authorized repurchase amount	$ 270,000,000	$ 270,000,000

EQUITY - Cumulative Gains (Loss

EQUITY - Cumulative Gains (Losses) (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Equity [Abstract]
Unrealized gains (losses) on investments	$ 5,115	$ 2,459
Defined benefit pension plans	(912)	(883)
Foreign currency translation adjustments	(56)	(74)
Total accumulated other comprehensive income (loss)	4,148	1,502
Less: Accumulated other comprehensive income (loss) attributable to noncontrolling interest	(40)	(44)
Accumulated other comprehensive income (loss) attributable to Holdings	$ 4,188	$ 1,546

EQUITY - Components of OCI, Net

EQUITY - Components of OCI, Net of Taxes (Details) - USD ($) $ in Millions	3 Months Ended						6 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Equity [Abstract]
Net unrealized gains (losses) arising during the period	$ 309			$ 1,279					$ 4,675	$ 4,002
(Gains) losses reclassified into net income (loss) during the period	(26)			(158)					(225)	(153)
Net unrealized gains (losses) on investments	283			1,121					4,450	3,849
Adjustments for policyholders’ liabilities, DAC, insurance liability loss recognition and other	(54)			(375)					(1,177)	(975)
Change in unrealized gains (losses), net of adjustments (net of deferred income tax expense (benefit) of $61, $198, $870 and $759)	229		$ 1,430	746	$ 1,292	$ 836		$ 2,128	3,273	2,874	$ 2,258	$ (1,326)	$ 672
Change in defined benefit plans:
Reclassification to Net income (loss) of amortization of net prior service credit included in net periodic cost	21			18					71	85
Change in defined benefit plans (net of deferred income tax expense (benefit) of $6, $7, $19 and $25)	21			18					71	85
Foreign currency translation adjustments:
Foreign currency translation gains (losses) arising during the period	16			(12)					1	(12)
Foreign currency translation adjustment	16			(12)					1	(12)	5	(32)	39
Total other comprehensive income (loss), net of income taxes	266	$ 1,642	$ 1,437	752	$ 1,311	$ 884	$ 3,079	$ 2,195	3,345	2,947	$ 2,248	$ (1,169)	$ 811
Less: Other comprehensive income (loss) attributable to noncontrolling interest	6			(5)					1	(7)
Other comprehensive income (loss) attributable to Holdings	260			757					3,344	2,954
Reclassification adjustment	(7)			(42)					(60)	(41)
AFS Securities, OCI, tax	61			198					870	759
Defined benefit plan, OCI, tax	$ 6			$ 7					$ 19	$ 25

REDEEMABLE NONCONTROLLING INT_3

REDEEMABLE NONCONTROLLING INTEREST - Summary of Redeemable Noncontrolling Interest (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Balance, beginning of period	[1],[2]			$ 365
Net earnings (loss) attributable to redeemable noncontrolling interests		$ 74	$ 68	197	$ 201
Balance, end of period	[1],[2]	95		95
Redeemable Noncontrolling Interest
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Balance, beginning of period		87	257	365	187
Net earnings (loss) attributable to redeemable noncontrolling interests		1	7	(4)	26
Purchase/change of redeemable noncontrolling interests		7	74	(266)	125
Balance, end of period		$ 95	$ 338	$ 95	$ 338
[1]	See Note 12 for details of Redeemable noncontrolling interest.
[2]	See Note 2 for details of balances with variable interest entities.

COMMITMENTS AND CONTINGENT LI_3

COMMITMENTS AND CONTINGENT LIABILITIES - Narrative (Details) shares in Millions	1 Months Ended	9 Months Ended
	Apr. 30, 2019USD ($)shares	Sep. 30, 2020USD ($)	Feb. 29, 2016USD ($)legalActionfederalAction
Loss Contingencies [Line Items]
Unaccrued amounts of reasonably possible range of losses		$ 100,000,000
Federal home loan bank stock		320,000,000
Carrying value of collateral pledged for federal home loan bank		8,700,000,000
Credit facility
Loss Contingencies [Line Items]
Line of credit facility, maximum borrowing capacity		17,000,000
Trust Notes
Loss Contingencies [Line Items]
Line of credit facility, maximum borrowing capacity		5,000,000,000
Holdings Revolving Credit Facility | Credit facility
Loss Contingencies [Line Items]
Line of credit facility, maximum borrowing capacity		$ 2,500,000,000
Debt instrument, term		5 years
Letter of Credit | Credit facility
Loss Contingencies [Line Items]
Line of credit facility, maximum borrowing capacity		$ 1,500,000,000
Bilateral Letter Of Credit Facilities | Credit facility
Loss Contingencies [Line Items]
Line of credit facility, maximum borrowing capacity		1,900,000,000
Equitable Financial
Loss Contingencies [Line Items]
Number of federal actions | federalAction			5
Equitable Financial | New York
Loss Contingencies [Line Items]
Number of actions | legalAction			3
ACS Life | Letter of Credit | Credit facility
Loss Contingencies [Line Items]
Remaining capacity at termination		150,000,000
AXA Equitable Life | Letter of Credit | Credit facility
Loss Contingencies [Line Items]
Remaining capacity at termination		425,000,000
AXA
Loss Contingencies [Line Items]
Commitments by the Company to provide equity financing		1,300,000,000
Face amount of mortgage loans		469,000,000
Affiliated Entity | AXA
Loss Contingencies [Line Items]
Commitments by the Company to provide equity financing		$ 217,000,000
Brach Family Foundation Litigation
Loss Contingencies [Line Items]
Liability for future policy benefits, face value of policy			$ 1,000,000
Pre-Capitalized Trust Securities, Redeemable February 15, 2049
Loss Contingencies [Line Items]
Shares issued (in shares) | shares	0.6
Proceeds from offering	$ 600,000,000
Sale of stock, funding arrangement, period to issue senior notes to trust	30 years
Sale of stock, semi-annual facility fee, rate	2.125%
Pre-Capitalized Trust Securities, Redeemable February 15, 2029
Loss Contingencies [Line Items]
Shares issued (in shares) | shares	0.4
Proceeds from offering	$ 400,000,000
Sale of stock, funding arrangement, period to issue senior notes to trust	10 years
Sale of stock, semi-annual facility fee, rate	2.715%

COMMITMENTS AND CONTINGENT LI_4

COMMITMENTS AND CONTINGENT LIABILITIES - Funding Agreements (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Federal Home Loan Bank (FHLB)
Restructuring Reserve [Roll Forward]
Outstanding Balance, period start	$ 6,900
Issued During the Period	34,298
Repaid During the Period	34,358
Long-term Agreements Maturing Within One Year	0
Long-term Agreements Maturing Within Five Years	0
Outstanding Balance, period end	6,840
Difference related to remaining amortization	8	$ 9
Funding Agreement-Backed Notes Program (FABN)
Restructuring Reserve [Roll Forward]
Outstanding Balance, period start	0
Issued During the Period	1,150
Repaid During the Period	0
Long-term Agreements Maturing Within One Year	0
Long-term Agreements Maturing Within Five Years	0
Outstanding Balance, period end	1,150
Difference related to remaining amortization	7
Short-Term Funding Agreements Maturing in Less than One Year | Federal Home Loan Bank (FHLB)
Restructuring Reserve [Roll Forward]
Outstanding Balance, period start	4,608
Issued During the Period	34,298
Repaid During the Period	34,358
Long-term Agreements Maturing Within One Year	490
Long-term Agreements Maturing Within Five Years	0
Outstanding Balance, period end	5,038
Short-Term Funding Agreements Maturing in Less than One Year | Funding Agreement-Backed Notes Program (FABN)
Restructuring Reserve [Roll Forward]
Outstanding Balance, period start	0
Issued During the Period	0
Repaid During the Period	0
Long-term Agreements Maturing Within One Year	0
Long-term Agreements Maturing Within Five Years	0
Outstanding Balance, period end	0
Long-Term Funding Agreements Maturing Between Two and Five Years | Federal Home Loan Bank (FHLB)
Restructuring Reserve [Roll Forward]
Outstanding Balance, period start	1,646
Issued During the Period	0
Repaid During the Period	0
Long-term Agreements Maturing Within One Year	(490)
Long-term Agreements Maturing Within Five Years	112
Outstanding Balance, period end	1,268
Long-Term Funding Agreements Maturing Between Two and Five Years | Funding Agreement-Backed Notes Program (FABN)
Restructuring Reserve [Roll Forward]
Outstanding Balance, period start	0
Issued During the Period	650
Repaid During the Period	0
Long-term Agreements Maturing Within One Year	0
Long-term Agreements Maturing Within Five Years	0
Outstanding Balance, period end	650
Long-Term Funding Agreements Maturing in Greater than Five Years | Federal Home Loan Bank (FHLB)
Restructuring Reserve [Roll Forward]
Outstanding Balance, period start	646
Issued During the Period	0
Repaid During the Period	0
Long-term Agreements Maturing Within One Year	0
Long-term Agreements Maturing Within Five Years	(112)
Outstanding Balance, period end	534
Long-Term Funding Agreements Maturing in Greater than Five Years | Funding Agreement-Backed Notes Program (FABN)
Restructuring Reserve [Roll Forward]
Outstanding Balance, period start	0
Issued During the Period	500
Repaid During the Period	0
Long-term Agreements Maturing Within One Year	0
Long-term Agreements Maturing Within Five Years	0
Outstanding Balance, period end	500
Long-Term Funding Agreements | Federal Home Loan Bank (FHLB)
Restructuring Reserve [Roll Forward]
Outstanding Balance, period start	2,292
Issued During the Period	0
Repaid During the Period	0
Long-term Agreements Maturing Within One Year	(490)
Long-term Agreements Maturing Within Five Years	0
Outstanding Balance, period end	1,802
Long-Term Funding Agreements | Funding Agreement-Backed Notes Program (FABN)
Restructuring Reserve [Roll Forward]
Outstanding Balance, period start	0
Issued During the Period	1,150
Repaid During the Period	0
Long-term Agreements Maturing Within One Year	0
Long-term Agreements Maturing Within Five Years	0
Outstanding Balance, period end	$ 1,150

BUSINESS SEGMENT INFORMATION -

BUSINESS SEGMENT INFORMATION - Narrative (Details)	9 Months Ended
	Sep. 30, 2020segment
Segment Reporting [Abstract]
Number of reportable segments	4

BUSINESS SEGMENT INFORMATION _2

BUSINESS SEGMENT INFORMATION - Reconciliation of Operating Profit (Loss) from Segments to Consolidated (Details) - USD ($) $ in Millions	3 Months Ended						6 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Segment Reporting Information [Line Items]
Net income (loss)	$ (779)	$ (4,019)	$ 5,388	$ (374)	$ 361	$ (805)	$ 1,369	$ (444)	$ 590	$ (818)	$ (1,764)	$ 1,855	$ 778
Adjustments related to:
Non-GAAP Operating Earnings	568			673					1,554	1,704
Interest expense	52			54					152	167
Adjustments
Segment Reporting Information [Line Items]
Net income (loss)	(779)			(374)					590	(818)
Adjustments related to:
Variable annuity product features	1,620			1,431					473	3,167
Investment (gains) losses	(17)			(199)					(190)	(176)
Net actuarial (gains) losses related to pension and other postretirement benefit obligations	31			24					86	72
Other adjustments	66			73					836	200
Income tax expense (benefit) related to above adjustments	(357)			(278)					(253)	(685)
Non-recurring tax items	4			(4)					12	(56)
COVID Impact on VA product feature due to assumption updates									1,500
Other COVID-19 impact									35
Other assumption updates due to COVID-19									1,049
Other COVID-19 impact									86
Separation costs	37			39					108	121
COVID-19 impact on taxes									554
Operating Segments | Individual Retirement
Adjustments related to:
Non-GAAP Operating Earnings	371			465					1,094	1,206
Operating Segments | Group Retirement
Adjustments related to:
Non-GAAP Operating Earnings	129			105					325	281
Operating Segments | Investment Management and Research
Adjustments related to:
Non-GAAP Operating Earnings	104			93					291	250
Operating Segments | Protection Solutions
Adjustments related to:
Non-GAAP Operating Earnings	51			100					88	207
Corporate and Other
Adjustments related to:
Non-GAAP Operating Earnings	(87)			(90)					(244)	(240)
Interest expense	$ 56			$ 59					$ 164	$ 170

BUSINESS SEGMENT INFORMATION _3

BUSINESS SEGMENT INFORMATION - Reconciliation of Revenue from Segments to Consolidated (Details) - USD ($) $ in Millions	3 Months Ended						6 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Segment Reporting Information [Line Items]
Total revenues	$ 1,840	$ (2,550)	$ 12,609	$ 3,078	$ 3,156	$ 1,709	$ 10,059	$ 4,865	$ 11,899	$ 7,943	$ 9,619	$ 12,069	$ 12,430
Operating Segments | Individual Retirement
Segment Reporting Information [Line Items]
Total revenues	1,079			1,181					3,352	3,253
Operating Segments | Group Retirement
Segment Reporting Information [Line Items]
Total revenues	301			273					829	791
Operating Segments | Investment Management and Research
Segment Reporting Information [Line Items]
Total revenues	899			872					2,650	2,500
Operating Segments | Protection Solutions
Segment Reporting Information [Line Items]
Total revenues	751			855					2,344	2,524
Corporate and Other
Segment Reporting Information [Line Items]
Total revenues	300			302					881	914
Adjustments
Adjustments related to:
Variable annuity product features	(1,512)			(608)					1,160	(2,244)
Investment (gains) losses	17			199					190	176
Other adjustments to segment revenues	5			4					493	29
Assumption updates due to COVID-19									46
Other COVID-19 related impact									(30)
Intersegment Eliminations
Adjustments related to:
Investment expenses	17			18					51	57
Investment management and other fees | Intersegment Eliminations
Adjustments related to:
Revenues	$ 28			$ 26					$ 82	$ 77

BUSINESS SEGMENT INFORMATION _4

BUSINESS SEGMENT INFORMATION - Reconciliation of Assets from Segment to Consolidated (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Total assets	$ 262,496	$ 249,818
Operating Segments | Individual Retirement
Segment Reporting Information [Line Items]
Total assets	129,265	123,627
Operating Segments | Group Retirement
Segment Reporting Information [Line Items]
Total assets	47,745	43,590
Operating Segments | Investment Management and Research
Segment Reporting Information [Line Items]
Total assets	10,736	10,170
Operating Segments | Protection Solutions
Segment Reporting Information [Line Items]
Total assets	47,166	46,832
Corporate and Other
Segment Reporting Information [Line Items]
Total assets	$ 27,584	$ 25,599

EARNINGS PER COMMON SHARE - Bas

EARNINGS PER COMMON SHARE - Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended						6 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Earnings Per Share [Abstract]
Weighted average number of shares outstanding - basic (in shares)	447.5			490.4					453	499.8
Effect of dilutive securities common shares, employee stock awards (in shares)	0			0					1.1	0
Weighted average common shares outstanding - diluted (in shares)	447.5			490.4					454.1	499.8
Net income (loss)	$ (705)	$ (3,933)	$ 5,425	$ (306)	$ 428	$ (739)	$ 1,492	$ (311)	$ 787	$ (617)	$ (1,467)	$ 2,189	$ 1,201
Less: Net income (loss) attributable to the noncontrolling interest	74			68					197	201
Net income (loss) attributable to Holdings	(779)	$ (4,019)	$ 5,388	(374)	$ 361	$ (805)	$ 1,369	$ (444)	590	(818)	$ (1,764)	$ 1,855	778
Less: Preferred stock dividends	11			0					34	0
Net income (loss) available to Holdings’ common shareholders	$ (790)			$ (374)					$ 556	$ (818)			$ 778
Net income (loss) attributable to Holdings per common share:
Basic (in usd per share)	$ (1.77)	$ (8.94)	$ 11.66	$ (0.76)	$ 0.74	$ (1.55)	$ 2.95	$ (0.88)	$ 1.23	$ (1.64)	$ (3.57)	$ 3.33	$ 1.39
Diluted (in usd per share)	$ (1.77)	$ (8.94)	$ 11.60	$ (0.76)	$ 0.73	$ (1.55)	$ 2.94	$ (0.88)	$ 1.22	$ (1.64)	$ (3.57)	$ 3.33	$ 1.39
Effect of dilutive securities (in shares)	1.5			1						0.8

EARNINGS PER COMMON SHARE - Nar

EARNINGS PER COMMON SHARE - Narrative (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Earnings Per Share [Abstract]
Antidilutive securities (in shares)	8.2	4.6	8.4	6.2

REVISION OF PRIOR PERIOD FINA_3

REVISION OF PRIOR PERIOD FINANCIAL STATEMENTS - Balance Sheet (Details) - USD ($) $ in Millions	Sep. 30, 2020		Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019		Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
ASSETS
Other invested assets	$ 1,802	[1]	$ 2,280	$ 2,124	$ 2,780	[1]
Deferred policy acquisition costs	4,171		4,090	4,697	5,837					$ 6,705
GMIB reinsurance contract asset, at fair value	2,818				2,139					1,734
Other assets	4,476	[1]			3,800	[1]				3,147
Total Assets	262,496		254,018	240,681	249,818					220,779
LIABILITIES
Future policy benefits and other policyholders' liabilities	41,139		41,506	38,001	34,635					31,077
Current and deferred income taxes	1,648		1,822	2,327	528					35
Total Liabilities	243,549		234,893	218,889	234,406					205,224
EQUITY
Retained earnings	12,032		12,899	17,007	11,744					13,937
Accumulated other comprehensive income (loss)	4,188				844					(1,408)
Total equity attributable to Holdings	17,300		17,498	19,981	13,456					13,802
Total Equity	18,852		19,038	21,535	15,047		$ 16,482	$ 16,217	$ 14,591	15,368	$ 16,411
Total Liabilities, Redeemable Noncontrolling Interest and Equity	$ 262,496		254,018	240,681	249,818					220,779
As Previously Reported
ASSETS
Other invested assets			2,280	2,112
Deferred policy acquisition costs			4,182	4,809	5,890					6,745
GMIB reinsurance contract asset, at fair value					2,139					1,732
Other assets					3,799					3,127
Total Assets			254,110	240,781	249,870					220,797
LIABILITIES
Future policy benefits and other policyholders' liabilities			41,476	37,968	34,587					30,998
Current and deferred income taxes			1,848	2,355	549					68
Total Liabilities			234,889	218,884	234,379					205,178
EQUITY
Retained earnings			12,995	17,112	11,827					13,989
Accumulated other comprehensive income (loss)					840					(1,396)
Total equity attributable to Holdings			17,594	20,086	13,535					13,866
Total Equity			19,134	21,640	15,126		16,478	16,388	14,682	15,432	16,518
Total Liabilities, Redeemable Noncontrolling Interest and Equity			254,110	240,781	249,870					220,797
Impact of Revisions
ASSETS
Other invested assets			0	12
Deferred policy acquisition costs			(92)	(112)	(53)					(40)
GMIB reinsurance contract asset, at fair value					0					2
Other assets					1					20
Total Assets			(92)	(100)	(52)					(18)
LIABILITIES
Future policy benefits and other policyholders' liabilities			30	33	48					79
Current and deferred income taxes			(26)	(28)	(21)					(33)
Total Liabilities			4	5	27					46
EQUITY
Retained earnings			(96)	(105)	(83)					(52)
Accumulated other comprehensive income (loss)					4					(12)
Total equity attributable to Holdings			(96)	(105)	(79)					(64)
Total Equity			(96)	(105)	(79)		$ 4	$ (171)	$ (91)	(64)	$ (107)
Total Liabilities, Redeemable Noncontrolling Interest and Equity			$ (92)	$ (100)	$ (52)					$ (18)
[1]	See Note 2 for details of balances with variable interest entities.

REVISION OF PRIOR PERIOD FINA_4

REVISION OF PRIOR PERIOD FINANCIAL STATEMENTS - Income Statement (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended						6 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
REVENUES
Policy charges and fee income	$ 914	$ 877	$ 996	$ 980	$ 938	$ 929	$ 1,873	$ 1,867	$ 2,787	$ 2,847	$ 3,778	$ 3,834	$ 3,686
Net derivative gains (losses)	(1,472)	(6,038)	9,400	(453)	(237)	(1,633)	3,362	(1,870)	1,890	(2,323)	(4,012)	(250)	191
Net investment income (loss)	879	1,022	629	824			1,651		2,530	2,815
Other income	155	124	155	143			279		434	409
Total revenues	1,840	(2,550)	12,609	3,078	3,156	1,709	10,059	4,865	11,899	7,943	9,619	12,069	12,430
BENEFITS AND OTHER DEDUCTIONS
Policyholders’ benefits	1,034	736	2,776	1,735	895	921	3,512	1,816	4,546	3,551	4,385	2,856	4,380
Interest credited to policyholders’ account balances	306			320	317	307		624	930	944	1,263	1,067
Commissions and distribution-related payments	342			317					982	905	1,242	1,165	1,088
Amortization of deferred policy acquisition costs, net	90	162	1,303	128	175	186	1,465	361	1,555	489	597	371	515
Other operating costs and expenses	436	434	438	449	455	411	872	866	1,308	1,315	1,890	1,810
Total benefits and other deductions	2,763	2,458	5,750	3,505	2,718	2,671	8,208	5,389	10,971	8,894	11,679	9,579	11,187
Income (loss) from continuing operations, before income taxes	(923)	(5,008)	6,859	(427)	438	(962)	1,851	(524)	928	(951)	(2,060)	2,490	1,243
Income tax (expense) benefit	218	1,075	(1,434)	121	(10)	223	(359)	213	(141)	334	593	(301)	(42)
Net income (loss)	(705)	(3,933)	5,425	(306)	428	(739)	1,492	(311)	787	(617)	(1,467)	2,189	1,201
Net income (loss) attributable to Holdings	(779)	$ (4,019)	$ 5,388	(374)	$ 361	$ (805)	$ 1,369	$ (444)	590	(818)	$ (1,764)	$ 1,855	778
Net income (loss) available to Holdings’ common shareholders	$ (790)			$ (374)					$ 556	$ (818)			$ 778
EARNINGS PER COMMON SHARE
Basic (in usd per share)	$ (1.77)	$ (8.94)	$ 11.66	$ (0.76)	$ 0.74	$ (1.55)	$ 2.95	$ (0.88)	$ 1.23	$ (1.64)	$ (3.57)	$ 3.33	$ 1.39
Diluted (in usd per share)	$ (1.77)	$ (8.94)	$ 11.60	$ (0.76)	$ 0.73	$ (1.55)	$ 2.94	$ (0.88)	$ 1.22	$ (1.64)	$ (3.57)	$ 3.33	$ 1.39
As Previously Reported
REVENUES
Policy charges and fee income		$ 879	$ 991	$ 929	$ 941	$ 931	$ 1,870	$ 1,872		$ 2,801	$ 3,738	$ 3,824	$ 3,693
Net derivative gains (losses)		(6,033)	9,401	(451)	(236)	(1,630)	3,368	(1,866)		(2,317)	(4,000)	(231)	214
Net investment income (loss)		1,035	616				1,651
Other income		124	156	142			280			408
Total revenues		(2,530)	12,593	3,028	3,160	1,714	10,063	4,874		7,902	9,591	12,078	12,460
BENEFITS AND OTHER DEDUCTIONS
Policyholders’ benefits		746	2,788	1,757	896	880	3,534	1,776		3,533	4,370	2,915	4,366
Interest credited to policyholders’ account balances				304	314	304		618		922	1,241	1,090
Commissions and distribution-related payments											1,242	1,160	1,081
Amortization of deferred policy acquisition costs, net		183	1,248	85	177	198	1,431	375		460	579	333	503
Other operating costs and expenses		434	437		456	410	871	866			1,892	1,809
Total benefits and other deductions		2,489	5,706	3,468	2,719	2,638	8,195	5,357		8,825	11,626	9,617	11,154
Income (loss) from continuing operations, before income taxes		(5,019)	6,887	(440)	441	(924)	1,868	(483)		(923)	(2,035)	2,461	1,306
Income tax (expense) benefit		1,077	(1,440)	124	(11)	215	(363)	204		328	599	(307)	(49)
Net income (loss)		(3,942)	5,447	(316)	430	(709)	1,505	(279)		(595)	(1,436)	2,154	1,257
Net income (loss) attributable to Holdings		$ (4,028)	$ 5,410	$ (384)	$ 363	$ (775)	$ 1,382	$ (412)		$ (796)	$ (1,733)	$ 1,820	834
Net income (loss) available to Holdings’ common shareholders													$ 834
EARNINGS PER COMMON SHARE
Basic (in usd per share)		$ (8.96)	$ 11.71	$ (0.78)	$ 0.74	$ (1.50)	$ 2.98	$ (0.82)		$ (1.59)	$ (3.51)	$ 3.27	$ 1.49
Diluted (in usd per share)		$ (8.96)	$ 11.65	$ (0.78)	$ 0.74	$ (1.50)	$ 2.97	$ (0.82)		$ (1.59)	$ (3.51)	$ 3.27	$ 1.48
Impact of Revisions
REVENUES
Policy charges and fee income		$ (2)	$ 5	$ 51	$ (3)	$ (2)	$ 3	$ (5)		$ 46	$ 40	$ 10	$ (7)
Net derivative gains (losses)		(5)	(1)	(2)	(1)	(3)	(6)	(4)		(6)	(12)	(19)	(23)
Net investment income (loss)		(13)	13				0
Other income		0	(1)	1			(1)			1
Total revenues		(20)	16	50	(4)	(5)	(4)	(9)		41	28	(9)	(30)
BENEFITS AND OTHER DEDUCTIONS
Policyholders’ benefits		(10)	(12)	(22)	(1)	41	(22)	40		18	15	(59)	14
Interest credited to policyholders’ account balances				16	3	3		6		22	22	(23)
Commissions and distribution-related payments											0	5	7
Amortization of deferred policy acquisition costs, net		(21)	55	43	(2)	(12)	34	(14)		29	18	38	12
Other operating costs and expenses		0	1		(1)	1	1	0			(2)	1
Total benefits and other deductions		(31)	44	37	(1)	33	13	32		69	53	(38)	33
Income (loss) from continuing operations, before income taxes		11	(28)	13	(3)	(38)	(17)	(41)		(28)	(25)	29	(63)
Income tax (expense) benefit		(2)	6	(3)	1	8	4	9		6	(6)	6	7
Net income (loss)		9	(22)	10	(2)	(30)	(13)	(32)		(22)	(31)	35	(56)
Net income (loss) attributable to Holdings		$ 9	$ (22)	$ 10	$ (2)	$ (30)	$ (13)	$ (32)		$ (22)	$ (31)	$ 35	(56)
Net income (loss) available to Holdings’ common shareholders													$ (56)
EARNINGS PER COMMON SHARE
Basic (in usd per share)		$ 0.02	$ (0.05)	$ 0.02	$ 0	$ (0.05)	$ (0.03)	$ (0.06)		$ (0.05)	$ (0.06)	$ 0.06	$ (0.10)
Diluted (in usd per share)		$ 0.02	$ (0.05)	$ 0.02	$ (0.01)	$ (0.05)	$ (0.03)	$ (0.06)		$ (0.05)	$ (0.06)	$ 0.06	$ (0.09)

REVISION OF PRIOR PERIOD FINA_5

REVISION OF PRIOR PERIOD FINANCIAL STATEMENTS - Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended						6 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net income (loss)	$ (705)	$ (3,933)	$ 5,425	$ (306)	$ 428	$ (739)	$ 1,492	$ (311)	$ 787	$ (617)	$ (1,467)	$ 2,189	$ 1,201
Foreign currency translation adjustment	16			(12)					1	(12)	5	(32)	39
Change in unrealized gains (losses), net of reclassification adjustment	229		1,430	746	1,292	836		2,128	3,273	2,874	2,258	(1,326)	672
Other comprehensive income (loss)	266	1,642	1,437	752	1,311	884	3,079	2,195	3,345	2,947	2,248	(1,169)	811
Comprehensive income (loss)	(439)	(2,291)	6,862	446	1,739	145	4,571	1,884	4,132	2,330	781	1,020	2,012
Comprehensive income (loss) attributable to Holdings	$ (519)	(2,380)	6,833	383	1,673	80	4,453	1,753	$ 3,934	2,136	488	671	1,570
As Previously Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net income (loss)		(3,942)	5,447	(316)	430	(709)	1,505	(279)		(595)	(1,436)	2,154	1,257
Foreign currency translation adjustment											5	(37)	42
Change in unrealized gains (losses), net of reclassification adjustment			1,434	581	1,369	834		2,203		2,784	2,242	(1,329)	690
Other comprehensive income (loss)		1,642	1,441	587	1,388	882	3,083	2,270		2,857	2,232	(1,177)	832
Comprehensive income (loss)		(2,300)	6,888	271	1,818	173	4,588	1,991		2,262	796	977	2,089
Comprehensive income (loss) attributable to Holdings		(2,389)	6,859	208	1,752	108	4,470	1,860		2,068	503	628	1,647
Impact of Revisions
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net income (loss)		9	(22)	10	(2)	(30)	(13)	(32)		(22)	(31)	35	(56)
Foreign currency translation adjustment											0	5	(3)
Change in unrealized gains (losses), net of reclassification adjustment			(4)	165	(77)	2		(75)		90	16	3	(18)
Other comprehensive income (loss)		0	(4)	165	(77)	2	(4)	(75)		90	16	8	(21)
Comprehensive income (loss)		9	(26)	175	(79)	(28)	(17)	(107)		68	(15)	43	(77)
Comprehensive income (loss) attributable to Holdings		$ 9	$ (26)	$ 175	$ (79)	$ (28)	$ (17)	$ (107)		$ 68	$ (15)	$ 43	$ (77)

REVISION OF PRIOR PERIOD FINA_6

REVISION OF PRIOR PERIOD FINANCIAL STATEMENTS - Equity (Details) - USD ($) $ in Millions	3 Months Ended						6 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other	$ 0			$ 24		$ (7)			$ 20	$ 8
Beginning of year	19,038	$ 21,535	$ 15,047	16,217	$ 14,591	15,368	$ 15,047	$ 15,368	15,047	15,368	$ 15,368	$ 16,411
Net income (loss) attributable to Holdings	(779)	(4,019)	5,388	(374)	361	(805)	1,369	(444)	590	(818)	(1,764)	1,855	$ 778
Other comprehensive income (loss)	266	1,642	1,437	752	1,311	884	3,079	2,195	3,345	2,947	2,248	(1,169)	811
End of year	18,852	19,038	21,535	16,482	16,217	14,591	19,038	16,217	18,852	16,482	15,047	15,368	16,411
As Previously Reported
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other						(8)
Beginning of year	19,134	21,640	15,126	16,388	14,682	15,432	15,126	15,432	15,126	15,432	15,432	16,518
Net income (loss) attributable to Holdings		(4,028)	5,410	(384)	363	(775)	1,382	(412)		(796)	(1,733)	1,820	834
Other comprehensive income (loss)		1,642	1,441	587	1,388	882	3,083	2,270		2,857	2,232	(1,177)	832
End of year		19,134	21,640	16,478	16,388	14,682	19,134	16,388		16,478	15,126	15,432	16,518
Impact of Revisions
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other						1
Beginning of year	(96)	(105)	(79)	(171)	(91)	(64)	(79)	(64)	(79)	(64)	(64)	(107)
Net income (loss) attributable to Holdings		9	(22)	10	(2)	(30)	(13)	(32)		(22)	(31)	35	(56)
Other comprehensive income (loss)		0	(4)	165	(77)	2	(4)	(75)		90	16	8	(21)
End of year		(96)	(105)	4	(171)	(91)	(96)	(171)		4	(79)	(64)	(107)
Additional Paid-in Capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other	0			16	(9)			(16)	20
Beginning of year	1,938		1,920	1,901	1,882	1,908	1,920	1,908	1,920	1,908	1,908
End of year	1,953	1,938		1,897	1,901	1,882	1,938	1,901	1,953	1,897	1,920	1,908
Additional Paid-in Capital | As Previously Reported
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other					(8)			(16)
Beginning of year				1,901	1,881	1,908		1,908		1,908	1,908
End of year					1,901	1,881		1,901				1,908
Additional Paid-in Capital | Impact of Revisions
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other					(1)			0
Beginning of year				0	1	0		0		0	0
End of year					0	1		0				0
Retained Earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning of year	12,899	17,007	11,744	13,209	12,922	13,937	11,744	13,937	11,744	13,937	13,937	12,138	11,360
Net income (loss) attributable to Holdings		(4,019)	5,388	(374)	361	(805)	1,369	(444)		(818)	(1,764)	1,855	778
End of year	12,032	12,899	17,007	12,761	13,209	12,922	12,899	13,209	12,032	12,761	11,744	13,937	12,138
Retained Earnings | As Previously Reported
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning of year	12,995	17,112	11,827	13,293	13,004	13,989	11,827	13,989	11,827	13,989	13,989	12,225	11,391
Net income (loss) attributable to Holdings		(4,028)	5,410	(384)	363	(775)	1,382	(412)		(796)	(1,733)	1,820	834
End of year		12,995	17,112	12,835	13,293	13,004	12,995	13,293		12,835	11,827	13,989	12,225
Retained Earnings | Impact of Revisions
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning of year	(96)	(105)	(83)	(84)	(82)	(52)	(83)	(52)	(83)	(52)	(52)	(87)	(31)
Net income (loss) attributable to Holdings		9	(22)	10	(2)	(30)	(13)	(32)		(22)	(31)	35	(56)
End of year		(96)	(105)	(74)	(84)	(82)	(96)	(84)		(74)	(83)	(52)	(87)
AOCI Attributable to Parent
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning of year	3,928		844	789	(523)	(1,408)	844	(1,408)	844	(1,408)	(1,408)	(128)	(920)
Other comprehensive income (loss)	260			757	1,312	885		2,197	3,344	2,954	2,252	(1,184)	792
End of year	4,188	3,928		1,546	789	(523)	3,928	789	4,188	1,546	844	(1,408)	(128)
AOCI Attributable to Parent | As Previously Reported
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning of year			840	876	(513)	(1,396)	840	(1,396)	840	(1,396)	(1,396)	(108)	(921)
Other comprehensive income (loss)				592	1,389	883		2,272		2,864	2,236	(1,192)	813
End of year				1,468	876	(513)		876		1,468	840	(1,396)	(108)
AOCI Attributable to Parent | Impact of Revisions
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning of year			4	(87)	(10)	(12)	4	(12)	4	(12)	(12)	(20)	1
Other comprehensive income (loss)				165	(77)	2		(75)		90	16	8	(21)
End of year				78	(87)	(10)		(87)		78	4	(12)	(20)
Parent
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other	0			16					20
Beginning of year	17,498	19,981	13,456	14,672	13,052	13,802	13,456	13,802	13,456	13,802	13,802	13,314
Other comprehensive income (loss)	260			757					3,344	2,954
End of year	17,300	17,498	19,981	14,940	14,672	13,052	17,498	14,672	17,300	14,940	13,456	13,802	13,314
Parent | As Previously Reported
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning of year	17,594	20,086	13,535	14,843	13,143	13,866	13,535	13,866	13,535	13,866	13,866	13,421
End of year		17,594	20,086	14,936	14,843	13,143	17,594	14,843		14,936	13,535	13,866	13,421
Parent | Impact of Revisions
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning of year	$ (96)	(105)	(79)	(171)	(91)	(64)	(79)	(64)	$ (79)	(64)	(64)	(107)
End of year		$ (96)	$ (105)	$ 4	$ (171)	$ (91)	$ (96)	$ (171)		$ 4	$ (79)	$ (64)	$ (107)

REVISION OF PRIOR PERIOD FINA_7

REVISION OF PRIOR PERIOD FINANCIAL STATEMENTS - Cash Flow (Details) - USD ($) $ in Millions	3 Months Ended						6 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash flows from operating activities:
Net income (loss)			$ 5,425			$ (739)	$ 1,492	$ (311)		$ (617)	$ (1,467)	$ 2,189	$ 1,201
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Policy charges and fee income	$ (914)	$ (877)	(996)	$ (980)	$ (938)	(929)	(1,873)	(1,867)	$ (2,787)	(2,847)	(3,778)	(3,834)	(3,686)
Interest credited to policyholders’ account balances	306			320	317	307		624	930	944	1,263	1,067
Net derivative (gains) losses	1,472	6,038	(9,400)	453	237	1,633	(3,362)	1,870	(1,890)	2,323	4,012	250	(191)
Amortization and depreciation			1,330			227	1,540	420		564	675	296	386
Capitalization of deferred policy acquisition costs									(489)	(544)	(754)	(697)	(663)
Future policy benefits			1,925			64	1,807	41	1,867	943	962	(458)	1,111
Current and deferred income taxes			1,420			175	478	14	237	30	(102)	627	(9)
Other, net			(449)				(328)	(59)	46	(87)	(164)	(222)
Net cash provided by (used in) operating activities			(570)			(109)	(548)	(425)	5	(292)	(216)	61	(243)
Cash flows from financing activities:
Change in collateralized pledged assets			43				60		60	3
Change in collateralized pledged liabilities			646				239		(1,973)	(1,900)
Net cash provided by (used in) financing activities			(13)				2,891		8,176	7,713
Cash and cash equivalents, end of year	$ 8,684	8,364	10,315	4,471	4,734	5,129	8,364	4,734	$ 8,684	4,471	4,405	4,469	4,814
As Previously Reported
Cash flows from operating activities:
Net income (loss)			5,447			(709)	1,505	(279)		(595)	(1,436)	2,154	1,257
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Policy charges and fee income		(879)	(991)	(929)	(941)	(931)	(1,870)	(1,872)		(2,801)	(3,738)	(3,824)	(3,693)
Interest credited to policyholders’ account balances				304	314	304		618		922	1,241	1,090
Net derivative (gains) losses		6,033	(9,401)	451	236	1,630	(3,368)	1,866		2,317	4,000	231	(214)
Amortization and depreciation			1,275			239	1,506	433		535	657	257	399
Capitalization of deferred policy acquisition costs											(754)	(702)	(687)
Future policy benefits			1,936			22	1,828	1		925	947	(399)	1,097
Current and deferred income taxes			1,425			183	482	23		36	(108)	633	(10)
Other, net			(448)				(329)	(58)		(86)	(162)	(222)
Net cash provided by (used in) operating activities			(582)			(109)	(548)	(425)		(292)	(216)	61	(243)
Cash flows from financing activities:
Change in collateralized pledged assets			44				60
Change in collateralized pledged liabilities			657				239
Net cash provided by (used in) financing activities			(13)				2,891
Cash and cash equivalents, end of year		8,364	10,315	4,471	4,734	5,129	8,364	4,734		4,471	4,405	4,469	4,814
Impact of Revisions
Cash flows from operating activities:
Net income (loss)			(22)			(30)	(13)	(32)		(22)	(31)	35	(56)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Policy charges and fee income		2	(5)	(51)	3	2	(3)	5		(46)	(40)	(10)	7
Interest credited to policyholders’ account balances				16	3	3		6		22	22	(23)
Net derivative (gains) losses		5	1	2	1	3	6	4		6	12	19	23
Amortization and depreciation			55			(12)	34	(13)		29	18	39	(13)
Capitalization of deferred policy acquisition costs											0	5	24
Future policy benefits			(11)			42	(21)	40		18	15	(59)	14
Current and deferred income taxes			(5)			(8)	(4)	(9)		(6)	6	(6)	1
Other, net			(1)				1	(1)		(1)	(2)	0
Net cash provided by (used in) operating activities			12			0	0	0		0	0	0	0
Cash flows from financing activities:
Change in collateralized pledged assets			(1)				0
Change in collateralized pledged liabilities			(11)				0
Net cash provided by (used in) financing activities			(12)				0
Cash and cash equivalents, end of year		$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0		$ 0	$ 0	$ 0	$ 0

SUBSEQUENT EVENTS - Narrative (

SUBSEQUENT EVENTS - Narrative (Details) - Subsequent Event	Oct. 27, 2020USD ($)
Subsequent Event [Line Items]
Coinsurance, general asset account	$ 12,000,000,000
Surplus notes	$ 50,000,000