Voya Financial (VOYA) 10-Q 6 May 20 2020 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - $ / shares	3 Months Ended
	Mar. 31, 2020	May 01, 2020	Dec. 31, 2019
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2020
Document Transition Report	false
Entity File Number	001-35897
Entity Registrant Name	Voya Financial, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	52-1222820
Entity Address, Address Line One	230 Park Avenue
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10169
City Area Code	212
Local Phone Number	309-8200
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		126,137,528
Common stock, par value	$ 0.01	$ 0.01	$ 0.01
Entity Central Index Key	0001535929
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Amendment Flag	false
Common Stock, $.01 par value
Entity Information [Line Items]
Title of 12(b) Security	Common Stock, $.01 par value
Trading Symbol	VOYA
Security Exchange Name	NYSE
Depositary Shares, each representing a 1/40th
Entity Information [Line Items]
Title of 12(b) Security	Depositary Shares, each representing a 1/40
Trading Symbol	VOYAPrB
Security Exchange Name	NYSE

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Investments:
Fixed maturities, available-for-sale, at fair value (amortized cost of $35,955 as of 2020 and $35,836 as of 2019; allowance for credit losses of $7 as of 2020)	$ 37,584	$ 39,663
Fixed maturities, at fair value using the fair value option	2,855	2,707
Equity securities, at fair value (cost of $142 as of 2020 and $196 as of 2019)	176	196
Short-term investments	80	68
Mortgage loans on real estate, net of valuation allowance	6,969	6,878
Less: Allowance for credit losses	22	0
Mortgage loans on real estate, net	6,947	6,878
Policy loans	763	776
Limited partnerships/corporations	1,343	1,290
Derivatives	875	316
Other investments	392	385
Total investments	52,570	53,687
Cash and cash equivalents	1,033	1,181
Short-term investments under securities loan agreements, including collateral delivered	2,183	1,395
Accrued investment income	541	505
Premium receivable and reinsurance recoverable	3,744	3,732
Less: Allowance for credit losses on reinsurance recoverable	22	0
Premium receivable and reinsurance recoverable	3,722	3,732
Deferred policy acquisition costs and Value of business acquired	2,603	2,226
Deferred income taxes	1,769	1,458
Other assets	1,086	902
Assets related to consolidated investment entities:
Assets held in separate accounts	68,937	81,670
Assets held for sale	19,133	20,069
Total assets	155,732	169,051
Liabilities and Shareholders' Equity:
Future policy benefits	9,640	9,945
Contract owner account balances	41,981	40,923
Payables under securities loan and repurchase agreements, including collateral held	2,065	1,373
Short-term debt	1	1
Long-term debt	3,042	3,042
Derivatives	1,068	403
Pension and other postretirement provisions	442	468
Current income taxes	30	27
Other liabilities	1,249	1,345
Liabilities related to consolidated investment entities:
Collateralized loan obligations notes, at fair value using the fair value option	368	474
Other liabilities	672	652
Liabilities related to separate accounts	68,937	81,670
Liabilities held for sale	17,972	18,498
Total liabilities	147,467	158,821
Commitments and Contingencies (Note 13)
Shareholders' equity:
Preferred stock ($0.01 par value per share; $625 aggregate liquidation preference as of 2020 and 2019)	0	0
Common stock ($0.01 par value per share; 900,000,000 shares authorized; 142,899,061 and 140,726,677 shares issued as of 2020 and 2019, respectively; 126,127,821 and 132,325,790 shares outstanding as of 2020 and 2019, respectively)	2	2
Treasury stock (at cost; 16,771,240 and 8,400,887 shares as of 2020 and 2019, respectively)	(882)	(460)
Additional paid-in capital	11,232	11,184
Accumulated other comprehensive income (loss)	1,841	3,331
Retained earnings (deficit):
Unappropriated	(4,766)	(4,649)
Total Voya Financial, Inc. shareholders' equity	7,427	9,408
Noncontrolling interest	838	822
Total shareholders' equity	8,265	10,230
Total liabilities and shareholders' equity	155,732	169,051
Limited partnerships/corporations, at fair value
Assets related to consolidated investment entities:
Assets related to consolidated investment entities	1,655	1,632
Cash and cash equivalents
Assets related to consolidated investment entities:
Assets related to consolidated investment entities	52	68
Corporate loans, at fair value using the fair value option
Assets related to consolidated investment entities:
Assets related to consolidated investment entities	432	513
Other assets
Assets related to consolidated investment entities:
Assets related to consolidated investment entities	16	13
Collateral Pledged
Investments:
Securities pledged (amortized cost of $1,416 as of 2020 and $1,264 as of 2019)	$ 1,555	$ 1,408

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Fixed maturities, amortized cost	$ 35,955	$ 35,836
Fixed maturities, allowance for credit losses	7	0
Equity securities, cost	142	196
Mortgage loans on real estate valuation allowance	0	1
Securities pledged, amortized costs	1,416	1,264
Preferred stock, aggregate liquidation preference	$ 625	$ 625
Preferred stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	900,000,000	900,000,000
Common stock, shares issued	142,899,061	140,726,677
Common stock, shares outstanding	126,127,821	132,325,790
Treasury stock, shares	16,771,240	8,400,887
Common stock, par value	$ 0.01	$ 0.01

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Revenues:
Net investment income	$ 698	$ 658
Fee income	505	482
Premiums	608	575
Net realized capital gains (losses):
Total impairments	(20)	(26)
Other net realized capital gains (losses)	(213)	14
Total net realized capital gains (losses)	(233)	(12)
Other revenue	92	114
Income (loss) related to consolidated investment entities:
Net investment income	15	5
Total revenues	1,685	1,822
Benefits and expenses:
Policyholder benefits	596	645
Interest credited to contract owner account balances	286	289
Operating expenses	640	682
Net amortization of Deferred policy acquisition costs and Value of business acquired	76	57
Interest expense	40	42
Operating expenses related to consolidated investment entities:
Interest expense	3	5
Total benefits and expenses	1,641	1,720
Income (loss) from continuing operations before income taxes	44	102
Income tax expense (benefit)	(6)	9
Income (loss) from continuing operations	50	93
Income (loss) from discontinued operations, net of tax	(128)	(20)
Net income (loss)	(78)	73
Less: Net income (loss) attributable to noncontrolling interest	6	(1)
Net income (loss) available to Voya Financial, Inc.	(84)	74
Less: Preferred stock dividends	14	10
Net income (loss) available to Voya Financial, Inc.'s common shareholders	$ (98)	$ 64
Net income (loss) per common share:
Income (loss) from continuing operations available to Voya Financial, Inc.'s common shareholders	$ 0.23	$ 0.57
Income (loss) available to Voya Financial, Inc.'s common shareholders	(0.75)	0.44
Income (loss) from continuing operations available to Voya Financial, Inc.'s common shareholders	0.22	0.56
Income (loss) available to Voya Financial, Inc.'s common shareholders	$ (0.71)	$ 0.42

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (78)	$ 73
Other comprehensive income (loss), before tax:
Unrealized gains (losses) on securities	(1,884)	1,284
Impairments	0	1
Pension and other postretirement benefits liability	(1)	(1)
Other comprehensive income (loss), before tax	(1,885)	1,284
Income tax expense (benefit) related to items of other comprehensive income (loss)	(395)	268
Other comprehensive income (loss), after tax	(1,490)	1,016
Comprehensive income (loss)	(1,568)	1,089
Less: Comprehensive income (loss) attributable to noncontrolling interest	6	(1)
Comprehensive income (loss) attributable to Voya Financial, Inc.	$ (1,574)	$ 1,090

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($) $ in Millions	Total	Preferred Stock	Common Stock	Treasury Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Income (Loss)	Unappropriated	Total Voya Financial, Inc. Shareholders' Equity	Noncontrolling Interest
Beginning balance at Dec. 31, 2018	$ 8,941	$ 0	$ 3	$ (4,981)	$ 24,316	$ 607	$ (11,732)	$ 8,213	$ 728
Comprehensive income (loss):
Net income (loss)	73	0	0	0	0	0	74	74	(1)
Other comprehensive income (loss), after tax	1,016	0	0	0	0	1,016	0	1,016	0
Less: Comprehensive income (loss) attributable to noncontrolling interest	(1)								(1)
Comprehensive income (loss)	1,089							1,090
Common stock issuance	2	0	0	0	2	0	0	2	0
Common stock acquired - Share repurchase	(250)	0	0	(200)	(50)	0	0	(250)	0
Dividends on preferred stock	(10)	0	0	0	0	0	(10)	(10)	0
Dividends on common stock	(1)	0	0	0	(1)	0	0	(1)	0
Share-based compensation	21	0	0	(22)	43	0	0	21	0
Contributions from (Distributions to) noncontrolling interest, net	14	0	0	0	0	0	0	0	14
Ending Balance at Mar. 31, 2019	9,806	0	3	(5,203)	24,310	1,966	(12,011)	9,065	741
Increase (Decrease) in Stockholders' Equity
Adoption of ASU | Accounting Standards Update 2018-02	0	0	0	0	0	343	(343)	0	0
Beginning balance at Dec. 31, 2019	10,230	0	2	(460)	11,184	3,331	(4,649)	9,408	822
Comprehensive income (loss):
Net income (loss)	(78)	0	0	0	0	0	(84)	(84)	6
Other comprehensive income (loss), after tax	(1,490)	0	0	0	0	(1,490)	0	(1,490)	0
Less: Comprehensive income (loss) attributable to noncontrolling interest	6								6
Comprehensive income (loss)	(1,568)							(1,574)
Common stock issuance	2	0	0	0	2	0	0	2	0
Common stock acquired - Share repurchase	(366)	0	0	(406)	40	0	0	(366)	0
Dividends on preferred stock	(14)	0	0	0	(14)	0	0	(14)	0
Dividends on common stock	(20)	0	0	0	(20)	0	0	(20)	0
Share-based compensation	24	0	0	(16)	40	0	0	24	0
Contributions from (Distributions to) noncontrolling interest, net	10	0	0	0	0	0	0	0	10
Ending Balance at Mar. 31, 2020	8,265	0	2	(882)	11,232	1,841	(4,766)	7,427	838
Increase (Decrease) in Stockholders' Equity
Adoption of ASU | Accounting Standards Update 2016-13	$ (33)	$ 0	$ 0	$ 0	$ 0	$ 0	$ (33)	$ (33)	$ 0

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash Flows from Operating Activities:
Net cash (used in) provided by operating activities - continuing operations	$ (100)	$ 59
Net cash provided by operating activities - discontinued operations	24	72
Net cash (used in) provided by operating activities	(76)	131
Proceeds from the sale, maturity, disposal or redemption of:
Fixed maturities	1,185	2,078
Equity securities	2	9
Mortgage loans on real estate	144	307
Limited partnerships/corporations	71	37
Acquisition of:
Fixed maturities	(1,537)	(2,035)
Equity securities	(1)	(18)
Mortgage loans on real estate	(234)	(155)
Limited partnerships/corporations	(112)	(60)
Short-term investments, net	(12)	(9)
Derivatives, net	174	45
Sales from consolidated investment entities	63	57
Purchases within consolidated investment entities	(206)	(91)
Collateral (delivered) received, net	(96)	(107)
Other investments, net	(11)	(26)
Net cash used in investing activities - discontinued operations	(241)	(76)
Net cash (used in) provided by investing activities	(811)	(44)
Cash Flows from Financing Activities:
Deposits received for investment contracts	2,038	1,076
Maturities and withdrawals from investment contracts	(1,399)	(1,525)
Settlements on deposit contracts	(2)	(2)
Borrowings of consolidated investment entities	122	36
Repayments of borrowings of consolidated investment entities	(176)	0
Contributions from (distributions to) participants in consolidated investment entities, net	348	(25)
Proceeds from issuance of common stock, net	2	2
Share-based compensation	(14)	(15)
Common stock acquired - Share repurchase	(366)	(250)
Dividends paid on common stock	(20)	(1)
Dividends paid on preferred stock	(14)	(10)
Principal payments for financing leases	(5)	0
Net cash provided by financing activities - discontinued operations	213	122
Net cash provided by (used in) financing activities	727	(592)
Net (decrease) increase in cash and cash equivalents	(160)	(505)
Cash and cash equivalents, beginning of period	1,472	1,538
Cash and cash equivalents, end of period	1,312	1,033
Less: Cash and cash equivalents of discontinued operations, end of period	279	227
Cash and cash equivalents of continuing operations, end of period	1,033	806
Accounting Standards Update 2016-02
Non-cash investing and financing activities:
Initial recognition of operating leases upon adoption of ASU 2016-02	$ 0	$ 146

Business, Basis of Presentation

Business, Basis of Presentation and Significant Accounting Policies	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Business, Basis of Presentation and Significant Accounting Policies	Business, Basis of Presentation and Significant Accounting Policies Business Voya Financial, Inc. and its subsidiaries (collectively the "Company") is a financial services organization in the United States that offers a broad range of retirement services, investment management services, mutual funds, group insurance and supplemental health products. On December 18, 2019, the Company entered into a Master Transaction Agreement (the “Resolution MTA”) with Resolution Life U.S. Holdings Inc., a Delaware corporation (“Resolution Life US”), pursuant to which Resolution Life US will acquire all of the shares of the capital stock of Security Life of Denver Insurance Company ("SLD") and Security Life of Denver International Limited ("SLDI"), including the capital stock of several subsidiaries of SLD and SLDI. The transaction is expected to close by September 30, 2020 and is subject to conditions specified in the Resolution MTA, including the receipt of required regulatory approvals. The assets and liabilities related to the businesses to be sold have been classified as held for sale in the accompanying Condensed Consolidated Balance Sheets and as discontinued operations in the accompanying Condensed Consolidated Statements of Operations and Condensed Consolidated Statements of Cash Flows and are reported separately for all periods presented. See the Business Held for Sale and Discontinued Operations Note to these Condensed Consolidated Financial Statements. Concurrently with the sale, SLD will enter into reinsurance agreements with insurance subsidiaries of the Company. Pursuant to these agreements, the Company's subsidiaries will reinsure to SLD certain individual life insurance and annuities businesses. The sale of SLD, SLDI and several of their subsidiaries along with the aforementioned reinsurance transactions are referred to herein as the "Individual Life Transaction". The Individual Life Transaction will result in the disposition of substantially all of our life insurance and legacy non-retirement annuity businesses and related assets. As such, the Company will no longer report its Individual Life business as an operating segment. On June 1, 2018, the Company consummated a series of transactions (collectively, the " 2018 Transaction") pursuant to a Master Transaction Agreement with VA Capital Company LLC ("VA Capital") and Athene Holding Ltd. ("Athene"). As part of the Transaction, Venerable Holdings, Inc. ("Venerable"), a wholly owned subsidiary of VA Capital, acquired two of the Company's subsidiaries, Voya Insurance and Annuity Company ("VIAC") and Directed Services, LLC ("DSL"), and VIAC and other Voya subsidiaries reinsured to Athene substantially all of their fixed and fixed indexed annuities business. In connection with the 2018 Transaction, VIAC and another Voya subsidiary engaged in a series of reinsurance arrangements pursuant to which Voya and its subsidiaries other than VIAC retained VIAC’s businesses other than variable annuities and fixed and fixed indexed annuities. The Transaction resulted in the disposition of substantially all of the Company's Closed Block Variable Annuity ("CBVA") and Annuities businesses. The Company provides its principal products and services through three segments: Retirement, Investment Management and Employee Benefits. In addition, the Company includes in Corporate activities that are not directly related to its segments and certain run-off activities that are not meaningful to the Company's business strategy. See the Segments Note to these Condensed Consolidated Financial Statements . Prior to May 2013, the Company was an indirect, wholly-owned subsidiary of ING Groep N.V. ("ING Group" or "ING"), a global financial services holding company based in The Netherlands. In May 2013, Voya Financial Inc. completed its initial public offering of common stock, including the issuance and sale of common stock by Voya Financial, Inc. and the sale of shares of common stock owned indirectly by ING Group. Between October 2013 and March 2015, ING Group completed the sale of its remaining shares of common stock of Voya Financial, Inc. in a series of registered public offerings. Basis of Presentation The accompanying Condensed Consolidated Financial Statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States ("U.S. GAAP") and are unaudited. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the Condensed Consolidated Financial Statements and the reported amounts of revenues and expenses during the reporting period. The inputs into the Company's estimates and assumptions consider the economic implications of COVID-19 on the Company's critical and significant accounting estimates. Those estimates are inherently subject to change and actual results could differ from those estimates, and the differences may be material to the Condensed Consolidated Financial Statements. The Condensed Consolidated Financial Statements include the accounts of Voya Financial, Inc. and its subsidiaries, as well as other voting interest entities ("VOEs") and variable interest entities ("VIEs") in which the Company has a controlling financial interest. See the Consolidated Investment Entities Note to these Condensed Consolidated Financial Statements . Intercompany transactions and balances have been eliminated. The accompanying Condensed Consolidated Financial Statements reflect adjustments (including normal, recurring adjustments) necessary to present fairly the financial position of the Company as of March 31, 2020 , its results of operations, comprehensive income and changes in shareholders' equity for the three months ended March 31, 2020 and 2019 , and its statements of cash flows for the three months ended March 31, 2020 and 2019 , in conformity with U.S. GAAP. Interim results are not necessarily indicative of full year performance. The December 31, 2019 Consolidated Balance Sheet is from the audited Consolidated Financial Statements included in the Company's Annual Report on Form 10-K , filed with the SEC. Therefore, these unaudited Condensed Consolidated Financial Statements should be read in conjunction with the audited Consolidated Financial Statements and related notes included in the Company's Annual Report on Form 10-K . Subsequent Events The Company has evaluated subsequent events through the issuance date of the Condensed Consolidated financial statements including the implications of the COVID-19 pandemic. The Company is not aware of any material matters that could impact the Company's financial position, results of operations or cash flows or for which a disclosure is required. Significant Accounting Policies Effective January 1, 2020, the Company adopted Accounting Standards Update ("ASU") 2016-13 "Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments”, as amended ("ASU 2016-13"). The Company adopted ASU 2016-13 using the modified retrospective method for financial assets measured at amortized cost and the prospective method for available-for-sale debt securities as required by ASU 2016-13. As a result, the Company had changes to the following significant accounting policies: • Investments: Mortgage Loans on Real Estate; • Impairments; and • Reinsurance. Comparative information has not been adjusted and continues to be reported under previously applicable U.S. GAAP. The Company’s accounting policies amended by the adoption of ASU 2016-13 are as follows: Investments Mortgage Loans on Real Estate : The Company's mortgage loans on real estate are all commercial mortgage loans, which are reported at amortized cost, net of the allowance for credit losses. Amortized cost is the principal balance outstanding, net of deferred loan fees and costs. Accrued interest receivable is reported in Accrued investment income on the Condensed Consolidated Balance Sheets. Mortgage loans are evaluated by the Company's investment professionals, including an appraisal of loan-specific performance, property characteristics and market trends. Loan performance is continuously monitored on a loan-specific basis throughout the year. The Company's review includes submitted appraisals, operating statements, rent revenues and annual inspection reports, among other items. This review evaluates whether the properties are performing at a consistent and acceptable level to secure the debt. Management estimates the credit loss allowance balance using a factor-based method of probability of default and loss given default which incorporates relevant available information, from internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts. Included in the factor-based method are the consideration of debt type, capital market factors, and market vacancy rates, and loan-specific risk characteristics such as debt service coverage ratios (“DSCR”), loan-to-value (“LTV”), collateral size, seniority of the loan, segmentation, and property types. The allowance for credit losses is a valuation account that is deducted from the loans’ amortized cost basis to present the net amount expected to be collected on the loans. The change in the allowance for credit losses is recorded in Other net realized capital gains (losses) in the Condensed Consolidated Statements of Operations. Loans are written off against the allowance when management believes the uncollectability of a loan balance is confirmed. Expected recoveries do not exceed the aggregate of amounts previously written-off and expected to be written-off. Mortgages are rated for the purpose of quantifying the level of risk. Those loans with higher risk are placed on a watch list and are closely monitored for collateral deficiency or other credit events that may lead to a potential loss of principal or interest. The Company defines delinquent mortgage loans consistent with industry practice as 60 days past due. Commercial mortgage loans are placed on non-accrual status when 90 days in arrears if the Company has concerns regarding the collectability of future payments, or if a loan has matured without being paid off or extended. Factors considered may include conversations with the borrower, loss of major tenant, bankruptcy of borrower or major tenant, decreased property cash flow, number of days past due, or various other circumstances. Based on an assessment as to the collectability of the principal, a determination is made either to apply against the book value or apply according to the contractual terms of the loan. Funds recovered in excess of book value would then be applied to recover expenses, credit loss allowance, and then interest. Accrual of interest resumes after factors resulting in doubts about collectability have improved. For those mortgages that are determined to require foreclosure, expected credit losses are based on the fair value of the underlying collateral, net of estimated costs to obtain and sell at the point of foreclosure. Property obtained from foreclosed mortgage loans is recorded in Other investments on the Condensed Consolidated Balance Sheets. Impairments The Company evaluates its available-for-sale investments quarterly to determine whether a decline in fair value below the amortized cost basis has resulted from credit loss or other factors. This evaluation process entails considerable judgment and estimation. Factors considered in this analysis include, but are not limited to, the extent to which the fair value has been less than amortized cost, the issuer's financial condition and near-term prospects, future economic conditions and market forecasts, interest rate changes and changes in ratings of the security. A severe unrealized loss position on a fixed maturity may not have any impact on: (a) the ability of the issuer to service all scheduled interest and principal payments and (b) the evaluation of recoverability of all contractual cash flows or the ability to recover an amount at least equal to its amortized cost based on the present value of the expected future cash flows to be collected. When assessing the Company's intent to sell a security, or if it is more likely than not it will be required to sell a security before recovery of its amortized cost basis, management evaluates facts and circumstances such as, but not limited to, decisions to rebalance the investment portfolio and sales of investments to meet cash flow or capital needs. When the Company has determined it has the intent to sell, or if it is more likely than not that the Company will be required to sell a security before recovery of its amortized cost basis, and the fair value has declined below amortized cost ("intent impairment"), the individual security is written down from amortized cost to fair value, and a corresponding charge is recorded in Net realized capital gains (losses) in the Condensed Consolidated Statements of Operations as Impairments. For available-for-sale securities that do not meet the intent impairment criteria but the Company has determined that a credit loss exists, the present value of cash flows expected to be collected from the security are compared to the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis, a credit loss allowance is recorded for the credit loss, limited by the amount that the fair value is less than the amortized cost basis. Any impairment that has not been recorded through an allowance for credit losses is recognized in Other comprehensive income (loss). The Company uses the following methodology and significant inputs in determining whether a credit loss exists: • When determining collectability and the period over which the value is expected to recover for U.S. and foreign corporate securities, foreign government securities and state and political subdivision securities, the Company applies the same considerations utilized in its overall impairment evaluation process, which incorporates information regarding the specific security, the industry and geographic area in which the issuer operates and overall macroeconomic conditions. Projected future cash flows are estimated using assumptions derived from the Company's best estimates of likely scenario-based outcomes, after giving consideration to a variety of variables that includes, but is not limited to: general payment terms of the security; the likelihood that the issuer can service the scheduled interest and principal payments; the quality and amount of any credit enhancements; the security's position within the capital structure of the issuer; possible corporate restructurings or asset sales by the issuer; and changes to the rating of the security or the issuer by rating agencies. • Additional considerations are made when assessing the unique features that apply to certain structured securities, such as subprime, Alt-A, non-agency RMBS, CMBS and ABS. These additional factors for structured securities include, but are not limited to: the quality of underlying collateral; expected prepayment speeds; loan-to-value ratios; debt service coverage ratios; current and forecasted loss severity; consideration of the payment terms of the underlying assets backing a particular security; and the payment priority within the tranche structure of the security. • When determining the amount of the credit loss for U.S. and foreign corporate securities, foreign government securities and state and political subdivision securities, the Company considers the estimated fair value as the recovery value when available information does not indicate that another value is more appropriate. When information is identified that indicates a recovery value other than estimated fair value, the Company considers in the determination of recovery value the same considerations utilized in its overall impairment evaluation process, which incorporates available information and the Company's best estimate of scenario-based outcomes regarding the specific security and issuer; possible corporate restructurings or asset sales by the issuer; the quality and amount of any credit enhancements; the security's position within the capital structure of the issuer; fundamentals of the industry and geographic area in which the security issuer operates; and the overall macroeconomic conditions. • The Company performs a discounted cash flow analysis comparing the current amortized cost of a security to the present value of future cash flows expected to be received, including estimated defaults and prepayments. The discount rate is generally the effective interest rate of the fixed maturity prior to impairment. Changes in the allowance for credit losses are recorded in Net realized capital gains (losses) as Impairments in the Condensed Consolidated Statements of Operations. Losses are charged against the allowance when the Company believes the uncollectability of an available-for-sale security is confirmed or when either of the criteria regarding intent or requirement to sell is met. Accrued interest receivable on available-for-sale securities is excluded from the estimate of credit losses. Reinsurance The Company utilizes reinsurance agreements in most aspects of its insurance business to reduce its exposure to large losses. Such reinsurance permits recovery of a portion of losses from reinsurers, although it does not discharge the primary liability of the Company as direct insurer of the risks reinsured. Accounting for reinsurance requires use of assumptions and estimates, particularly related to the future performance of the underlying business and the potential impact of counterparty credit risks. The Company periodically reviews actual and anticipated experience compared to the assumptions used to establish assets and liabilities relating to ceded and assumed reinsurance. The Company also evaluates the financial strength of potential reinsurers and continually monitors the financial condition of reinsurers. Reinsurance recoverable balances are reported net of the allowance for credit losses in the Company’s Condensed Consolidated Balance Sheets. Management estimates the credit loss allowance balance using a factor-based method of probability of default and loss given default which incorporates relevant available information, from internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts. Included in the factor-based method are the consideration of capital market factors, counterparty financial information and ratings, and reinsurance agreement-specific risk characteristics such as collateral type, collateral size, and covenant strength. The allowance for credit losses is a valuation account that is deducted from the reinsurance recoverable balance to present the net amount expected to be collected on the reinsurance recoverable. The change in the allowance for credit losses is recorded in Policyholder benefits in the Condensed Consolidated Statements of Operations. Adoption of New Pronouncements The following table provides a description of the Company's adoption of new Accounting Standard Updates ("ASUs") issued by the Financial Accounting Standards Board ("FASB") and the impact of the adoption on the Company's financial statements. Standard Description of Requirements Effective Date and Method of Adoption Effect on the Financial Statements or Other Significant Matters ASU 2018-15, Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract This standard, issued in August 2018, requires a customer in a hosting arrangement that is a service contract to follow the guidance for internal-use software projects to determine which implementation costs to capitalize as an asset. Capitalized implementation costs are required to be expensed over the term of the hosting arrangement. In addition, a customer is required to apply the impairment and abandonment guidance for long-lived assets to the capitalized implementation costs. Balances related to capitalized implementation costs must be presented in the same financial statement line items as other hosting arrangement balances, and additional disclosures are required. January 1, 2020 using the prospective method. Adoption of the ASU did not have a material impact on the Company's financial condition, results of operations, or cash flows. ASU 2018-13, Changes to the Disclosure Requirements for Fair Value Measurement This standard, issued in August 2018, simplifies certain disclosure requirements for fair value measurement. January 1, 2020 using the transition method prescribed for each applicable provision. Adoption of this ASU had no effect on the Company's financial condition, results of operations, or cash flows. The adoption resulted in various disclosure changes that have been included in Note 5, Fair Value Measurements . Standard Description of Requirements Effective Date and Method of Adoption Effect on the Financial Statements or Other Significant Matters ASU 2016-13, Measurement of Credit Losses on Financial Instruments This standard, issued in June 2016: • Introduces a new current expected credit loss ("CECL") model to measure impairment on certain types of financial instruments, • Requires an entity to estimate lifetime expected credit losses, under the new CECL model, based on relevant information about historical events, current conditions, and reasonable and supportable forecasts, • Modifies the impairment model for available-for-sale debt securities, and • Provides a simplified accounting model for purchased financial assets with credit deterioration since their origination. In addition, the FASB issued various amendments during 2018, 2019, and 2020 to clarify the provisions of ASU 2016-13. January 1, 2020, using the modified retrospective method for financial assets measured at amortized cost and the prospective method for available-for-sale debt securities. The Company recorded a $33 decrease, net of tax, to Unappropriated retained earnings as of a January 1, 2020 for the cumulative effect of adopting ASU 2016-13. The combined transition adjustment for continuing and discontinued operations includes recognition of an allowance for credit losses of $19 related to mortgage loans and $28 related to reinsurance recoverables, net of the effect of Deferred policy acquisition costs and Value of business acquired of $5 and deferred income taxes of $9. The provisions that required prospective adoption had no effect on the Company's financial condition, results of operations, or cash flows. In addition, disclosures have been updated to reflect accounting policy changes made as a result of the implementation of ASU 2016-13. (See the Significant Accounting Policies section.) Comparative information has not been adjusted and continues to be reported under previously applicable U.S. GAAP. Future Adoption of Accounting Pronouncements Long-Duration Contracts In August 2018, the FASB issued ASU 2018-12, "Financial Services - Insurance (Topic 944) Targeted Improvements to the Accounting for Long-Duration Contracts" ("ASU 2018-12"), which changes the measurement and disclosures of insurance liabilities and deferred acquisition costs ("DAC") for long-duration contracts issued by insurers. In October 2019, the FASB voted to amend the effective date of ASU 2018-12 for public business entities that are required to file with the SEC to fiscal years beginning after December 15, 2021, including interim periods, with early adoption permitted. The Company is currently in the process of evaluating the provisions of ASU 2018-12. While it is not possible to estimate the expected impact of adoption at this time, the Company believes there is a reasonable possibility that implementation of ASU 2018-12 may result in a significant impact on Shareholders’ equity and future earnings patterns. In addition to requiring significantly expanded interim and annual disclosures regarding long-duration insurance contract assets and liabilities, ASU 2018-12's provisions include modifications to the accounting for such contracts in the following areas: ASU 2018-12 Subject Area Description of Requirements Transition Provisions Effect on the Financial Statements or Other Significant Matters Assumptions used to measure the liability for future policy benefits for nonparticipating traditional and limited payment insurance contracts Requires insurers to review and, if necessary, update cash flow assumptions at least annually. The effect of updating cash flow assumptions will be measured on a retrospective catch-up basis and presented in the Statement of Operations in the period in which the update is made. The rate used to discount the liability for future policy benefits will be required to be updated quarterly, with related changes in the liability recorded in AOCI. The discount rate will be based on an upper-medium grade fixed-income corporate instrument yield reflecting the duration characteristics of the relevant liabilities. Initial adoption is required to be reported using either a full retrospective or modified retrospective approach. Under either method, upon adoption the liability for future policy benefits will be remeasured using current discount rates as of the beginning of the earliest period presented with the impact recorded as a cumulative effect adjustment to AOCI. The application of periodic assumption updates for nonparticipating traditional and limited payment insurance contracts is significantly different from the current accounting approach for such liabilities, which is based on assumptions that are locked in at contract inception unless a premium deficiency occurs. Under the current accounting guidance, the liability discount rate is based on expected yields on the underlying investment portfolio held by the insurer. The implications of these requirements, including transition options, and related potential financial statement impacts are currently being evaluated. Measurement of market risk benefits Creates a new category of benefit features called market risk benefits, defined as features that protect contract holders from capital market risk and expose the insurers to that risk. Market risk benefits will be required to be measured at fair value, with changes in fair value recognized in the Statement of Operations, except for changes in fair value attributable to changes in the instrument-specific credit risk, which will be recorded in AOCI. Full retrospective application is required. Upon adoption, any difference between the fair value and pre-adoption carrying value of market risk benefits not currently measured at fair value will be recorded to retained earnings. In addition, the cumulative effect of changes in instrument-specific credit risk will be reclassified from retained earnings to AOCI. Under the current accounting guidance, certain features that are expected to meet the definition of market risk benefits are accounted for as either insurance liabilities or embedded derivatives. The implications of these requirements and related potential financial statement impacts are currently being evaluated. ASU 2018-12 Subject Area Description of Requirements Transition Provisions Effect on the Financial Statements or Other Significant Matters Amortization of DAC and other balances Requires DAC (and other balances that refer to the DAC model, such as deferred sales inducement costs and unearned revenue liabilities) for all long-duration contracts to be measured on a constant level basis over the expected life of the contract. Initial adoption is required to be reported using either a full retrospective or modified retrospective approach. The method of transition applied for DAC and other balances must be consistent with the transition method selected for future policy benefit liabilities, as described above. This approach is intended to approximate straight-line amortization and cannot be based on revenue or profits as it is under the current accounting model. Related amounts in AOCI will be eliminated upon adoption. ASU 2018-12 did not change the existing accounting guidance related to value of business acquired ("VOBA") and net cost of reinsurance, which allows, but does not require, insurers to amortize such balances on a basis consistent with DAC. The implications of these requirements, including transition options, and related potential financial statement impacts are currently being evaluated. The following table provides a description of future adoptions of other new accounting standards that may have an impact on the Company's financial statements when adopted: Standard Description of Requirements Effective date and transition provisions Effect on the financial statements or other significant matters ASU 2020-04, Reference Rate Reform This standard, issued in March 2020, provides temporary optional expedients and exceptions The amendments are effective as of March 12, 2020, the issuance date of the ASU. An entity may elect to apply the amendments prospectively The Company expects that it will elect to apply some of the expedients and exceptions provided in ASU 2020-04; however, the Company is still evaluating the guidance, and therefore, the impact of the adoption of ASU 2020-04 on the Company’s financial condition and results of operations has not yet been determined. ASU 2019-12, Simplifying the Accounting for Income Taxes This standard, issued in December 2019, simplifies the accounting for income taxes by eliminating certain exceptions to the general principles and simplifying several aspects of ASC 740, Income taxes, including requirements related to the following: • The intraperiod tax allocation exception to the incremental approach, • The tax basis step-up in goodwill obtained in a transaction that is not a business combination, • Hybrid tax regimes, • Ownership changes in investments - changes from a subsidiary to an equity method investment, • Separate financial statements of entities not subject to tax, • Interim-period accounting for enacted changes in tax law, and • The year-to-date loss limitation in interim-period tax accounting. January 1, 2021 with early adoption permitted. Early adoption in an interim period must reflect any adjustments as of the beginning of the annual period. Initial adoption of ASU 2019-12 is required to be reported on a prospective basis, except for certain provisions that are required to be applied retrospectively or modified retrospectively. The Company is currently in the process of determining the impact of adoption of the provisions of ASU 2019-12. ASU 2018-14, Changes to the Disclosure Requirements for Defined Benefit Plans This standard, issued in August 2018, eliminates certain disclosure requirements that are no longer considered cost beneficial and requires new disclosures that are considered relevant. December 31, 2020 with early adoption permitted. Initial adoption of ASU 2018-14 is required to be reported on a retrospective basis for all periods presented. The Company is currently in the process of determining the impact of adoption of the provisions of ASU 2018-14.

Business Held for Sale and Disc

Business Held for Sale and Discontinued Operations	3 Months Ended
	Mar. 31, 2020
Discontinued Operations and Disposal Groups [Abstract]
Business Held for Sale and Discontinued Operations	Business Held for Sale and Discontinued Operations As noted in the Business, Basis of Presentation and Significant Accounting Policies Note, on December 18, 2019, the Company entered into the Resolution MTA with Resolution Life US to sell several of its subsidiaries and the related Individual Life and fixed and variable annuities businesses within these subsidiaries. Additionally, on June 1, 2018, the Company consummated a series of transactions pursuant to a Master Transaction Agreement (the "2018 MTA") to sell substantially all of its fixed and fixed indexed annuities businesses. The following table presents summary information related to income (loss) from discontinued operations for the periods presented: Three Months Ended March 31, 2020 2019 Income (loss) from discontinued operations, net of tax Individual Life Transaction $ (128 ) $ 59 2018 Transaction — (79 ) Total $ (128 ) $ (20 ) The Individual Life Transaction Sale of legal entities Pursuant to the Company executing the Resolution MTA and upon closing of the Individual Life Transaction, the Company will sell five of its legal subsidiaries, SLD, SLDI, Roaring River II ("RRII"), Midwestern United Life Insurance Company ("MUL") and Voya American Equities, Inc. ("VAE") to Resolution Life. US. Resolution Life US is an insurance holding company newly formed by Resolution Life Group Holdings, L.P., a Bermuda-based limited partnership (“RLGH”). The Individual Life Transaction is expected to close by September 30, 2020 and is subject to conditions specified in the Resolution MTA, including the receipt of required regulatory approvals. The purchase price in the transaction is approximately $1.25 billion , with an adjustment based on the adjusted capital and surplus of SLD, SLDI and RRII at closing. The purchase price includes cash consideration of approximately $902 , a $225 equity interest in RLGH, and $123 principal amount in surplus notes issued by SLD that will be retained by the Company under modified terms. The receivable for the surplus notes and SLD's corresponding liability outstanding as of March 31, 2020 and December 31, 2019 are included in Other investments and Liabilities held for sale, respectively, on the Company's Condensed Consolidated Balance Sheets. In the summary of major categories of assets and liabilities held for sale below, SLD's corresponding liability for the surplus notes is included in Notes payable. The Individual Life Transaction is subject to a $100 reverse termination fee that would be payable by Resolution Life US to the Company if the Resolution MTA is terminated in prescribed circumstances related to the failure by Resolution Life US’s reserve financing provider to provide a committed financing facility. A separate $20 termination fee would be payable by Resolution Life US to the Company in prescribed circumstances where the Resolution MTA is terminated due to a failure to obtain certain approvals or consents. Concurrent with the execution of the Resolution MTA, RLGH provided the Company with a limited guarantee to guarantee its financial obligations for an amount not to exceed $1.3 billion , including the termination fees and subject to the terms and conditions in the Resolution MTA. The Company has determined that these entities to be disposed of meet the criteria to be classified as held for sale and that the sale represents a strategic shift that will have a major effect on the Company’s operations. Accordingly, the results of operations of the entities to be sold have been presented as discontinued operations in the accompanying Condensed Consolidated Statements of Operations and Condensed Consolidated Statements of Cash Flows, and the assets and liabilities of the businesses have been classified as held for sale and segregated for all periods presented in the Condensed Consolidated Balance Sheets. A business classified as held for sale is recorded at the lower of its carrying value or estimated fair value less cost to sell. If the carrying value exceeds its estimated fair value less cost to sell, a loss is recognized. Transactions between the businesses held for sale and businesses in continuing operations that are expected to continue to exist after the disposal are not eliminated to appropriately reflect the continuing operations and the assets, liabilities and results of the businesses held for sale. The results of discontinued operations are reported in "Income (loss) from discontinued operations, net of tax" in the accompanying Condensed Consolidated Statements of Operations for all periods presented. As of December 31, 2019 , the Company recorded an estimated loss on sale, net of tax of $1,108 to write down the carrying value of the businesses held for sale to estimated fair value, which is based on the estimated sales price of the Individual Life Transaction as of December 31, 2019 , less cost to sell and other adjustments in accordance with the Resolution MTA. In addition, the Company is required to remeasure the estimated fair value and loss on sale at the end of each quarter until closing of the Individual Life Transaction. As such, Income (loss) from discontinued operations, net of tax, for the three months ended March 31, 2020 includes an additional estimated loss on sale of $163 , net of tax. The estimated loss on sale, net of tax as of March 31, 2020 of $1,271 represents the excess of the estimated carrying value of the businesses held for sale over the estimated purchase price, which approximates fair value, less cost to sell. Additionally, the estimated loss on sale is based on assumptions that are subject to change due to fluctuations in market conditions and other variables that may occur prior to the closing date. The following table summarizes the major categories of assets and liabilities classified as held for sale related to the Individual Life Transaction in the accompanying Condensed Consolidated Balance Sheets as of March 31, 2020 and December 31, 2019 : March 31, 2020 December 31, 2019 Assets: Investments: Fixed maturities, available-for-sale, at fair value $ 11,097 $ 11,483 Fixed maturities, at fair value using the fair value option 747 752 Mortgage loans on real estate, net of allowance for credit losses of $3 as of 2020 1,306 1,319 Policy loans 1,006 1,005 Derivatives 148 304 Other investments (1) 423 430 Securities pledged 209 235 Total investments 14,936 15,528 Cash and cash equivalents 279 291 Short-term investments under securities loan agreements, including collateral delivered 191 216 Premium receivable and reinsurance recoverable, net allowance for credit losses of $13 as of 2020 3,102 3,101 Deferred policy acquisition costs and Value of business acquired 771 607 Current income taxes 136 136 Deferred income taxes (664 ) (757 ) Other assets (2) 441 570 Assets held in separate accounts 1,212 1,485 Write-down of businesses held for sale to fair value less cost to sell (1,271 ) (1,108 ) Total assets held for sale $ 19,133 $ 20,069 Liabilities: Future policy benefits and contract owner account balances $ 15,389 $ 15,472 Payables under securities loan and repurchase agreements, including collateral held 265 428 Derivatives 58 77 Notes payable 252 252 Other liabilities 796 784 Liabilities related to separate accounts 1,212 1,485 Total liabilities held for sale $ 17,972 $ 18,498 (1) Includes Other investments, Equity securities, Limited Partnerships/corporations and Short-term investments. (2) Includes Other assets and Accrued investment income. The following table summarizes the components of Income (loss) from discontinued operations, net of tax related to the Individual Life Transaction for the three months ended March 31, 2020 and 2019 : Three Months Ended March 31, 2020 2019 Revenues: Net investment income $ 169 $ 157 Fee income 174 187 Premiums 7 7 Total net realized capital gains (losses) (26 ) 29 Other revenue (2 ) — Total revenues 322 380 Benefits and expenses: Interest credited and other benefits to contract owners/policyholders 238 251 Operating expenses 26 24 Net amortization of Deferred policy acquisition costs and Value of business acquired 12 29 Interest expense 2 2 Total benefits and expenses 278 306 Income (loss) from discontinued operations before income taxes 44 74 Income tax expense (benefit) 9 15 Loss on sale, net of tax (163 ) — Income (loss) from discontinued operations, net of tax $ (128 ) $ 59 The estimated purchase price and estimated carrying value of the legal entities to be sold as of the future date of closing, and therefore the estimated loss on sale related to the Individual Life Transaction, are subject to adjustment in future quarters until closing, and may be influenced by, but not limited to, the following factors: • The performance of the businesses held for sale, including the impact of mortality, reinsurance rates and financing costs; • Changes in the terms of the Transaction, including as the result of subsequent negotiations or as necessary to obtain regulatory approval; and • Other changes in the terms of the Transaction due to unanticipated developments. The Company is required to remeasure the estimated fair value and loss on sale at the end of each quarter until closing of the Individual Life Transaction. Changes in the estimated loss on sale that occur prior to closing of the Individual Life Transaction will be reported as an adjustment to Income (loss) from discontinued operations, net of tax, in future quarters prior to closing. Reinsurance Concurrently with the sale, SLD will enter into reinsurance agreements with Reliastar Life Insurance Company ("RLI"), ReliaStar Life Insurance Company of New York ("RLNY"), and Voya Retirement Insurance and Annuity Company ("VRIAC"), each of which is a direct or indirect wholly owned subsidiary of the Company. Pursuant to these agreements, RLI and VRIAC will reinsure to SLD a 100% quota share, and RLNY will reinsure to SLD a 75% quota share, of their respective individual life insurance and annuities businesses. RLI, RLNY, and VRIAC will remain subsidiaries of the Company. The Company currently expects that these reinsurance transactions will be carried out on a coinsurance basis, with SLD’s reinsurance obligations collateralized in one of three ways: 1) invested assets placed in a comfort trust; 2) funds withheld basis with invested assets remaining on the respective subsidiaries of the Company; or 3) some combination of these two collateralization structures. Based on values as of March 31, 2020 , U.S GAAP reserves to be ceded under the Individual Life Transaction (defined below) are expected to be approximately $11.0 billion and are subject to change until closing. The reinsurance agreements along with the sale of the legal entities noted above will result in the disposition of substantially all of the Company's life insurance and legacy non-retirement annuity businesses. The revenues and net results of the Individual Life and Annuities businesses that will be disposed of via reinsurance are reported in businesses exited or to be exited through reinsurance or divestment which is an adjustment to the Company's U.S. GAAP revenues and earnings measures to calculate Adjusted operating revenues and Adjusted operating earnings before income taxes, respectively. In connection with the reinsurance agreements mentioned above, the Company may incur charges associated with the termination or recapture of existing reinsurance arrangements with its reinsurers. The 2018 Transaction The Company has determined that the CBVA and Annuities businesses disposed of in the 2018 Transaction disclosed in the Business, Basis of Presentation and Significant Accounting Policies Note to these Condensed Consolidated Financial Statements meet the criteria to be classified as discontinued operations and that the sale represents a strategic shift that has a major effect on the Company’s operations. Accordingly, the results of operations of the businesses sold have been presented as discontinued operations in the accompanying Condensed Consolidated Statements of Operations and Condensed Consolidated Statements of Cash Flows for all periods presented. Income (loss) from discontinued operations for the three months ended March 31, 2019 included an additional loss on sale of $79 related to purchase price true-up amounts with VA Capital which was settled during the second quarter of 2019. Upon execution of the Individual Life Transaction including the reinsurance arrangements disclosed in the Individual Life Transaction section above, the Company will continue to hold an insignificant number of Individual Life, Annuities and CBVA policies. These policies are referred to in this Quarterly Report on Form 10-Q as "Residual Runoff Business".

Investments (excluding Consolid

Investments (excluding Consolidated Investment Entities)	3 Months Ended
	Mar. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Investments (excluding Consolidated Investment Entities)	50% - 60% >60% - 70% >70% - 80% >80% and above Total 2020 $ 55 $ 144 $ 28 $ — $ — $ 227 2019 389 208 99 15 — 711 2018 206 168 97 — — 471 2017 699 434 18 — — 1,151 2016 630 321 15 — — 966 2015 610 189 — — — 799 2014 and prior 1,913 700 31 — — 2,644 Total $ 4,502 $ 2,164 $ 288 $ 15 $ — $ 6,969 As of December 31, 2019 Loan-to-Value Ratios Year of Origination 0% - 50% >50% - 60% >60% - 70% >70% - 80% >80% and above Total 2020 $ — $ — $ — $ — $ — $ — 2019 121 138 227 211 26 723 2018 11 141 188 159 14 513 2017 153 283 697 12 15 1,160 2016 122 221 579 50 — 972 2015 39 502 248 15 — 804 2014 and prior 241 438 1,771 256 1 2,707 Total $ 687 $ 1,723 $ 3,710 $ 703 $ 56 $ 6,879 The following tables present commercial mortgage loans by year of origination and DSC ratio as of the dates indicated. The information is updated as of March 31, 2020 and December 31, 2019 , respectively. As of March 31, 2020 Debt Service Coverage Ratios Year of Origination >1.5x >1.25x - 1.5x >1.0x - 1.25x <1.0x Commercial mortgage loans secured by land or construction loans Total 2020 $ 167 $ 35 $ 25 $ — $ — $ 227 2019 540 106 65 — — 711 2018 319 13 98 41 — 471 2017 623 272 176 80 — 1,151 2016 864 68 30 4 — 966 2015 744 49 6 — — 799 2014 and prior 2,232 218 123 71 — 2,644 Total $ 5,489 $ 761 $ 523 $ 196 $ — $ 6,969 As of December 31, 2019 Debt Service Coverage Ratios Year of Origination >1.5x >1.25x - 1.5x >1.0x - 1.25x <1.0x Commercial mortgage loans secured by land or construction loans Total 2020 $ — $ — $ — $ — $ — $ — 2019 493 165 66 — — 724 2018 351 13 88 61 — 513 2017 608 292 167 93 — 1,160 2016 873 63 31 4 — 971 2015 743 50 6 6 — 805 2014 and prior 2,265 210 139 92 — 2,706 Total $ 5,333 $ 793 $ 497 $ 256 $ — $ 6,879 The following tables present the commercial mortgage loans by year of origination and U.S. region as of the dates indicated. The information is updated as of March 31, 2020 and December 31, 2019 , respectively. As of March 31, 2020 U.S. Region Year of Origination Pacific South Atlantic Middle Atlantic West South Central Mountain East North Central New England West North Central East South Central Total 2020 $ 32 $ 124 $ 17 $ 23 $ 15 $ 8 $ — $ — $ 8 $ 227 2019 99 201 20 189 68 64 18 14 38 711 2018 106 156 72 47 60 16 — 14 — 471 2017 176 127 458 170 106 63 6 45 — 1,151 2016 276 180 191 46 106 119 14 28 6 966 2015 223 217 171 42 54 68 12 12 — 799 2014 and prior 718 541 386 212 272 237 66 167 45 2,644 Total $ 1,630 $ 1,546 $ 1,315 $ 729 $ 681 $ 575 $ 116 $ 280 $ 97 $ 6,969 As of December 31, 2019 U.S. Region Year of Origination Pacific South Atlantic Middle Atlantic West South Central Mountain East North Central New England West North Central East South Central Total 2020 $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — 2019 100 200 35 187 67 63 18 15 37 722 2018 106 182 73 47 60 16 — 14 15 513 2017 177 128 464 171 107 63 6 45 — 1,161 2016 277 181 193 47 107 119 14 28 6 972 2015 226 218 171 43 54 68 12 12 — 804 2014 and prior 741 553 390 224 275 242 67 169 46 2,707 Total $ 1,627 $ 1,462 $ 1,326 $ 719 $ 670 $ 571 $ 117 $ 283 $ 104 $ 6,879 The following tables present the commercial mortgage loans by year of origination and property type as of the dates indicated. The information is updated as of March 31, 2020 and December 31, 2019 , respectively. As of March 31, 2020 Property Type Year of Origination Retail Industrial Apartments Office Hotel/Motel Other Mixed Use Total 2020 $ 49 $ 9 $ 116 $ 53 $ — $ — $ — $ 227 2019 55 130 388 105 33 — — 711 2018 78 121 206 26 4 36 — 471 2017 141 550 267 189 4 — — 1,151 2016 178 309 262 192 10 9 6 966 2015 198 283 131 89 30 68 — 799 2014 and prior 1,194 223 485 371 107 208 56 2,644 Total $ 1,893 $ 1,625 $ 1,855 $ 1,025 $ 188 $ 321 $ 62 $ 6,969 As of December 31, 2019 Property Type Year of Origination Retail Industrial Apartments Office Hotel/Motel Other Mixed Use Total 2020 $ — $ — $ — $ — $ — $ — $ — $ — 2019 55 130 400 105 32 — — 722 2018 83 122 221 46 4 36 — 512 2017 142 557 268 190 4 — — 1,161 2016 179 312 263 192 10 10 6 972 2015 198 285 133 90 30 69 — 805 2014 and prior 1,216 230 512 376 108 209 56 2,707 Total $ 1,873 $ 1,636 $ 1,797 $ 999 $ 188 $ 324 $ 62 $ 6,879 The following table summarizes the activity in the allowance for losses for commercial mortgage loans for the periods indicated: March 31, 2020 Allowance for credit losses, balance at January 1 $ 16 Credit losses on mortgage loans for which credit losses were not previously recorded 1 Initial allowance for credit losses recognized on financial assets accounted for as PCD — Increase (decrease) on mortgage loans with allowance recorded in previous period 5 Provision for expected credit losses 22 Writeoffs — Recoveries of amounts previously written off — Allowance for credit losses, end of period $ 22 The following table presents past due commercial mortgage loans as of the dates indicated: March 31, 2020 December 31, 2019 Delinquency: Current $ 6,969 $ 6,879 30-59 days past due — — 60-89 days past due — — Greater than 90 days past due — — Total $ 6,969 $ 6,879 Commercial mortgage loans are placed on non-accrual status when 90 days in arrears if the Company has concerns regarding the collectability of future payments, or if a loan has matured without being paid off or extended. As of March 31, 2020 and December 31, 2019 , the Company had no commercial mortgage loans in non-accrual status. There was no interest income recognized on loans in non-accrual status for the three months ended March 31, 2020 and December 31, 2019 . As of March 31, 2020 and December 31, 2019 , the Company had no commercial mortgage loans that were over 90 days or more past due but are not on non-accrual status. The Company had no commercial mortgage loans on non-accrual status for which there is no related allowance for credit losses as of March 31, 2020 . Net Investment Income The following table summarizes Net investment income for the periods indicated: Three Months Ended March 31, 2020 2019 Fixed maturities $ 571 $ 555 Equity securities 3 3 Mortgage loans on real estate 74 79 Policy loans 11 11 Short-term investments and cash equivalents 2 4 Other 55 23 Gross investment income 716 675 Less: investment expenses 18 17 Net investment income $ 698 $ 658 As of March 31, 2020 and December 31, 2019 , the Company had $5 and $1 , respectively, of investments in fixed maturities that did not produce net investment income. Fixed maturities are moved to a non-accrual status when the investment defaults. Interest income on fixed maturities is recorded when earned using an effective yield method, giving effect to amortization of premiums and accretion of discounts. Such interest income is recorded in Net investment income in the Condensed Consolidated Statements of Operations. Net Realized Capital Gains (Losses) Net realized capital gains (losses) comprise the difference between the amortized cost of investments and proceeds from sale and redemption, as well as losses incurred due to the credit-related and intent-related impairment of investments. Realized investment gains and losses are also primarily generated from changes in fair value of embedded derivatives within products and fixed maturities, changes in fair value of fixed maturities recorded at FVO and changes in fair value including accruals on derivative instruments, except for effective cash flow hedges. Net realized capital gains (losses) also include changes in fair value of equity securities. The cost of the investments on disposal is generally determined based on first-in-first-out ("FIFO") methodology. Net realized capital gains (losses) were as follows for the periods indicated: Three Months Ended March 31, 2020 2019 Fixed maturities, available-for-sale, including securities pledged $ (36 ) $ (23 ) Fixed maturities, at fair value option 33 67 Equity securities (10 ) 5 Derivatives (30 ) (64 ) Embedded derivatives - fixed maturities 8 1 Guaranteed benefit derivatives (193 ) 5 Mortgage Loans (5 ) — Other investments — (3 ) Net realized capital gains (losses) $ (233 ) $ (12 ) For the three months ended March 31, 2020 and 2019 , the change in the fair value of equity securities still held as of March 31, 2020 and 2019 was $(10) and $5 , respectively. Proceeds from the sale of fixed maturities, available-for-sale, and equity securities and the related gross realized gains and losses, before tax, were as follows for the periods indicated: Three Months Ended March 31, 2020 2019 Proceeds on sales $ 467 $ 1,589 Gross gains 11 22 Gross losses 20 24" id="sjs-B4">Investments (excluding Consolidated Investment Entities) Fixed Maturities Available-for-sale and fair value option ("FVO") fixed maturities were as follows as of March 31, 2020 : Amortized Cost Gross Unrealized Capital Gains Gross Unrealized Capital Losses Embedded Derivatives (2) Fair Value Allowance for credit losses Fixed maturities: U.S. Treasuries $ 1,076 $ 519 $ — $ — $ 1,595 $ — U.S. Government agencies and authorities 73 27 — — 100 — State, municipalities and political subdivisions 1,213 105 3 — 1,315 — U.S. corporate public securities 12,721 1,537 302 — 13,956 — U.S. corporate private securities 5,519 254 130 — 5,643 — Foreign corporate public securities and foreign governments (1) 3,875 251 120 — 4,006 — Foreign corporate private securities (1) 4,522 87 189 — 4,416 4 Residential mortgage-backed securities 5,515 227 162 27 5,607 — Commercial mortgage-backed securities 3,629 186 330 — 3,484 1 Other asset-backed securities 2,083 9 218 — 1,872 2 Total fixed maturities, including securities pledged 40,226 3,202 1,454 27 41,994 7 Less: Securities pledged 1,416 201 62 — 1,555 — Total fixed maturities $ 38,810 $ 3,001 $ 1,392 $ 27 $ 40,439 $ 7 (1) Primarily U.S. dollar denominated. (2) Embedded derivatives within fixed maturity securities are reported with the host investment. The changes in fair value of embedded derivatives are reported in Other net realized capital gains (losses) in the Condensed Consolidated Statements of Operations. Available-for-sale and FVO fixed maturities were as follows as of December 31, 2019 : Amortized Cost Gross Unrealized Capital Gains Gross Unrealized Capital Losses Embedded Derivatives (2) Fair Value OTTI (3)(4) Fixed maturities: U.S. Treasuries $ 1,074 $ 308 $ — $ — $ 1,382 $ — U.S. Government agencies and authorities 74 21 — — 95 — State, municipalities and political subdivisions 1,220 103 — — 1,323 — U.S. corporate public securities 12,980 1,977 19 — 14,938 — U.S. corporate private securities 5,568 488 21 — 6,035 — Foreign corporate public securities and foreign governments (1) 3,887 460 6 — 4,341 — Foreign corporate private securities (1) 4,545 288 2 — 4,831 — Residential mortgage-backed securities 4,999 200 14 19 5,204 5 Commercial mortgage-backed securities 3,402 176 4 — 3,574 — Other asset-backed securities 2,058 22 25 — 2,055 1 Total fixed maturities, including securities pledged 39,807 4,043 91 19 43,778 6 Less: Securities pledged 1,264 154 10 — 1,408 — Total fixed maturities $ 38,543 $ 3,889 $ 81 $ 19 $ 42,370 $ 6 (1) Primarily U.S. dollar denominated. (2) Embedded derivatives within fixed maturity securities are reported with the host investment. The changes in fair value of embedded derivatives are reported in Other net realized capital gains (losses) in the Condensed Consolidated Statements of Operations. (3) Represents OTTI reported as a component of Other comprehensive income (loss). (4) Amount excludes $336 of net unrealized gains on impaired available-for-sale securities. The amortized cost and fair value of fixed maturities, including securities pledged, as of March 31, 2020 , are shown below by contractual maturity. Actual maturities may differ from contractual maturities as securities may be restructured, called or prepaid. Mortgage-backed securities ("MBS") and Other asset-backed securities ("ABS") are shown separately because they are not due at a single maturity date. Amortized Cost Fair Value Due to mature: One year or less $ 1,224 $ 1,227 After one year through five years 5,035 5,019 After five years through ten years 7,998 8,117 After ten years 14,742 16,668 Mortgage-backed securities 9,144 9,091 Other asset-backed securities 2,083 1,872 Fixed maturities, including securities pledged $ 40,226 $ 41,994 The investment portfolio is monitored to maintain a diversified portfolio on an ongoing basis. Credit risk is mitigated by monitoring concentrations by issuer, sector and geographic stratification and limiting exposure to any one issuer. As of March 31, 2020 and December 31, 2019 , the Company did no t have any investments in a single issuer, other than obligations of the U.S. Government and government agencies, with a carrying value in excess of 10% of the Company’s Total shareholders' equity. The following tables present the composition of the U.S. and foreign corporate securities within the fixed maturity portfolio by industry category as of the dates indicated: Amortized Cost Gross Unrealized Capital Gains Gross Unrealized Capital Losses Fair Value March 31, 2020 Communications $ 1,653 $ 227 $ 6 $ 1,874 Financial 4,013 365 46 4,332 Industrial and other companies 11,511 973 248 12,236 Energy 2,692 103 294 2,501 Utilities 4,921 358 77 5,202 Transportation 1,209 63 49 1,223 Total $ 25,999 $ 2,089 $ 720 $ 27,368 December 31, 2019 Communications $ 1,694 $ 295 $ — $ 1,989 Financial 4,067 535 1 4,601 Industrial and other companies 11,669 1,274 16 12,927 Energy 2,819 368 27 3,160 Utilities 4,895 561 1 5,455 Transportation 1,206 116 2 1,320 Total $ 26,350 $ 3,149 $ 47 $ 29,452 The Company has elected the FVO for certain of its fixed maturities to better match the measurement of assets and liabilities in the Condensed Consolidated Statements of Operations. Certain collateralized mortgage obligations ("CMOs"), primarily interest-only and principal-only strips, are accounted for as hybrid instruments and reported at fair value with changes in the fair value recorded in Other net realized capital gains (losses) in the Condensed Consolidated Statements of Operations. The Company invests in various categories of CMOs, including CMOs that are not agency-backed, that are subject to different degrees of risk from changes in interest rates and defaults. The principal risks inherent in holding CMOs are prepayment and extension risks related to significant decreases and increases in interest rates resulting in the prepayment of principal from the underlying mortgages, either earlier or later than originally anticipated. As of March 31, 2020 and December 31, 2019 , approximately 44.7% and 43.4% , respectively, of the Company's CMO holdings, were invested in the above mentioned types of CMOs such as interest-only or principal-only strips, that are subject to more prepayment and extension risk than traditional CMOs. Public corporate fixed maturity securities are distinguished from private corporate fixed maturity securities based upon the manner in which they are transacted. Public corporate fixed maturity securities are issued initially through market intermediaries on a registered basis or pursuant to Rule 144A under the Securities Act of 1933 (the "Securities Act") and are traded on the secondary market through brokers acting as principal. Private corporate fixed maturity securities are originally issued by borrowers directly to investors pursuant to Section 4(a)(2) of the Securities Act, and are traded in the secondary market directly with counterparties, either without the participation of a broker or in agency transactions. Repurchase Agreements As of March 31, 2020 and December 31, 2019 , the Company did not have any securities pledged in dollar rolls or reverse repurchase agreements. As of March 31, 2020 , the carrying value of securities pledged and obligation to repay loans related to repurchase agreement transaction was $72 and included in Securities pledged and Payables under securities loan and repurchase agreements, including collateral held on the Condensed Consolidated Balance Sheets. As of December 31, 2019 , the carrying value of securities pledged and obligation to repay loans related to repurchase agreement transaction was $66 . Securities pledged related to repurchase agreements are comprised of other asset-backed securities. Securities Lending The Company engages in securities lending whereby the initial collateral is required at a rate of 102% of the market value of the loaned securities. The lending agent retains the collateral and invests it in high quality liquid assets on behalf of the Company. The market value of the loaned securities is monitored on a daily basis with additional collateral obtained or refunded as the market value of the loaned securities fluctuates. The lending agent indemnifies the Company against losses resulting from the failure of a counterparty to return securities pledged where collateral is insufficient to cover the loss. As of March 31, 2020 and December 31, 2019 , the fair value of loaned securities was $1,273 and $1,159 , respectively, and is included in Securities pledged on the Condensed Consolidated Balance Sheets. If cash is received as collateral, the lending agent retains the cash collateral and invests it in short-term liquid assets on behalf of the Company. As of March 31, 2020 and December 31, 2019 , cash collateral retained by the lending agent and invested in short-term liquid assets on the Company's behalf was $1,179 and $1,055 , respectively, and is recorded in Short-term investments under securities loan agreements, including collateral delivered on the Condensed Consolidated Balance Sheets. As of March 31, 2020 and December 31, 2019 , liabilities to return collateral of $1,179 and $1,055 , respectively, are included in Payables under securities loan and repurchase agreements, including collateral held on the Condensed Consolidated Balance Sheets. The Company accepts non-cash collateral in the form of securities. The securities retained as collateral by the lending agent may not be sold or re-pledged, except in the event of default, and are not reflected on the Company’s Condensed Consolidated Balance Sheets. This collateral generally consists of U.S. Treasury, U.S. Government agency securities and MBS pools. As of March 31, 2020 and December 31, 2019 , the fair value of securities retained as collateral by the lending agent on the Company’s behalf was $126 and $146 , respectively. The following table presents borrowings under securities lending transactions by asset class pledged as of the dates indicated: March 31, 2020 (1)(2) December 31, 2019 (1)(2) U.S. Treasuries $ 204 $ 213 U.S. Government agencies and authorities 50 15 U.S. corporate public securities 729 684 Foreign corporate public securities and foreign governments 322 289 Payables under securities loan agreements $ 1,305 $ 1,201 (1) As of March 31, 2020 and December 31, 2019 , borrowings under securities lending transactions include cash collateral of $1,179 and $1,055 , respectively. (2) As of March 31, 2020 and December 31, 2019 , borrowings under securities lending transactions include non-cash collateral of $126 and $146 , respectively. The Company's securities lending activities are conducted on an overnight basis, and all securities loaned can be recalled at any time. The Company does not offset assets and liabilities associated with its securities lending program. Allowance for credit losses The following table presents a rollforward of the allowance for credit losses on available-for-sale fixed maturity securities for the period presented: Three Months Ended March 31, 2020 Residential mortgage-backed securities Commercial mortgage-backed securities Foreign corporate private securities Other asset-backed securities Total Balance as of January 1 $ — $ — $ — $ — $ — Credit losses on securities for which credit losses were not previously recorded — 1 4 2 7 Initial allowance for credit losses recognized on financial assets accounted for as PCD — — — — — Reductions for securities sold during the period — — — — — Reductions for intent to sell or more likely than not will be required to sell securities prior to recovery of amortized cost — — — — — Increase (decrease) on securities with allowance recorded in previous period — — — — — Write-offs — — — — — Recoveries of amounts previously written off — — — — — Balance as of March 31 $ — $ 1 $ 4 $ 2 $ 7 Unrealized Capital Losses The following table presents available-for-sale fixed maturities, including securities pledged, for which an allowance for credit losses has not been recorded by market sector and duration as of the date indicated: Twelve Months or Less Below Amortized Cost More Than Twelve Months Below Amortized Cost Total Fair Value Unrealized Capital Losses Number of securities Fair Value Unrealized Capital Losses Number of securities Fair Value Unrealized Capital Losses Number of securities March 31, 2020 State, municipalities and political subdivisions $ 66 $ 3 22 $ 1 $ — 1 $ 67 $ 3 23 U.S. corporate public securities 2,350 288 452 30 14 8 2,380 302 460 U.S. corporate private securities 1,362 89 110 116 41 11 1,478 130 121 Foreign corporate public securities and foreign governments 1,078 112 224 37 8 8 1,115 120 232 Foreign corporate private securities 2,100 178 144 52 11 6 2,152 189 150 Residential mortgage-backed 1,870 145 357 130 17 77 2,000 162 434 Commercial mortgage-backed 1,836 330 307 — — — 1,836 330 307 Other asset-backed 1,217 148 283 336 70 116 1,553 218 399 Total $ 11,879 $ 1,293 1,899 $ 702 $ 161 227 $ 12,581 $ 1,454 2,126 The Company concluded that an allowance for credit losses was unnecessary for these securities because the unrealized losses are interest rate related. Unrealized capital losses (including noncredit impairments), along with the fair value of fixed maturity securities, including securities pledged, by market sector and duration were as follows as of December 31, 2019 : Twelve Months or Less More Than Twelve Months Below Amortized Cost Total Fair Value Unrealized Capital Losses Fair Value Unrealized Capital Losses Fair Value Unrealized Capital Losses U.S. Treasuries $ 2 $ — * $ 21 $ — * $ 23 $ — * State, municipalities and political subdivisions 25 — * 1 — * 26 — * U.S. corporate public securities 122 3 199 16 321 19 U.S. corporate private securities 113 1 195 20 308 21 Foreign corporate public securities and foreign governments 15 — * 103 6 118 6 Foreign corporate private securities 36 — * 78 2 114 2 Residential mortgage-backed 730 8 194 6 924 14 Commercial mortgage-backed 472 4 18 — * 490 4 Other asset-backed 308 5 641 20 949 25 Total $ 1,823 $ 21 $ 1,450 $ 70 $ 3,273 $ 91 Total number of securities in an unrealized loss position 334 338 672 *Less than $1. Based on the Company's quarterly evaluation of its securities in a unrealized loss position, described below, the Company concluded that these securities were not impaired as of March 31, 2020 . The Company does not intend to sell the investments and it is not more likely than not that the Company will be required to sell the investments before recovery of their amortized cost bases. See the Business, Basis of Presentation and Significant Accounting Policies Note these Condensed Consolidated Financial Statements for the policy used to evaluate whether the investments are impaired. Gross unrealized capital losses on fixed maturities, including securities pledged, increased $1,363 from $91 to $1,454 for the three months ended March 31, 2020 . The increase in gross unrealized capital losses was primarily due to non-credit related market factors. At March 31, 2020 , $9 of the total $1,454 of gross unrealized losses were from 5 available-for-sale fixed maturity securities with an unrealized loss position of 20% or more of amortized cost for 12 months or greater. Evaluating Securities for Impairments The Company performs a regular evaluation, on a security-by-security basis, of its available-for-sale securities holdings, including fixed maturity securities, in accordance with its impairment policy in order to evaluate whether such investments are impaired. The following table identifies the Company's impairments included in the Condensed Consolidated Statements of Operations, excluding impairments included in Other comprehensive income (loss) by type for the periods indicated: Three Months Ended March 31, 2020 2019 Impairment No. of Securities Impairment No. of Securities U.S. corporate public securities $ 19 2 $ — — Foreign corporate private securities (1) — — 25 3 Residential mortgage-backed 1 8 — * 15 Commercial mortgage-backed — 1 — — Other asset-backed — — 1 2 Total $ 20 11 $ 26 20 Credit Impairments $ — $ 26 Intent Impairments $ 20 $ — (1) Primarily U.S. dollar denominated. *Less than $1 The Company may sell securities during the period in which fair value has declined below amortized cost for fixed maturities. In certain situations, new factors, including changes in the business environment, can change the Company’s previous intent to continue holding a security. Accordingly, these factors may lead the Company to record additional intent related capital losses. Troubled Debt Restructuring The Company invests in high quality, well performing portfolios of commercial mortgage loans and private placements. 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. For the three months ended March 31, 2020 , the Company did no t have any new commercial mortgage loan or new private placement troubled debt restructuring. For the three months ended March 31, 2019 , the Company did no t have any new commercial mortgage loans and had one new private placement troubled debt restructuring with a pre-modification cost basis of $107 and a post-modification carrying value of $81 . For the three months ended March 31, 2020 and March 31, 2019 , the Company did not have any commercial mortgage loans or private placements modified in a troubled debt restructuring with a subsequent payment default. Mortgage Loans on Real Estate The Company diversifies its commercial mortgage loan portfolio by geographic region and property type to reduce concentration risk. The Company manages risk when originating commercial mortgage loans by generally lending only up to 75% of the estimated fair value of the underlying real estate. Subsequently, the Company continuously evaluates mortgage loans based on relevant current information including a review of loan-specific performance, property characteristics and market trends. Loan performance is monitored on a loan specific basis through the review of submitted appraisals, operating statements, rent revenues and annual inspection reports, among other items. This review ensures properties are performing at a consistent and acceptable level to secure the debt. The components to evaluate debt service coverage are received and reviewed at least annually to determine the level of risk. Loan-to-value ("LTV") and debt service coverage ("DSC") ratios are measures commonly used to assess the risk and quality of mortgage loans. The LTV ratio, calculated at time of origination, is expressed as a percentage of the amount of the loan relative to the value of the underlying property. A LTV ratio in excess of 100% indicates the unpaid loan amount exceeds the underlying collateral. The DSC ratio, based upon the most recently received financial statements, is expressed as a percentage of the amount of a property’s net income to its debt service payments. A DSC ratio of less than 1.0 indicates that a property’s operations do not generate sufficient income to cover debt payments. These ratios are utilized as part of the review process described above. The following tables present commercial mortgage loans by year of origination and LTV ratio as of the dates indicated. The information is updated as of March 31, 2020 and December 31, 2019 , respectively. As of March 31, 2020 Loan-to-Value Ratios Year of Origination 0% - 50% >50% - 60% >60% - 70% >70% - 80% >80% and above Total 2020 $ 55 $ 144 $ 28 $ — $ — $ 227 2019 389 208 99 15 — 711 2018 206 168 97 — — 471 2017 699 434 18 — — 1,151 2016 630 321 15 — — 966 2015 610 189 — — — 799 2014 and prior 1,913 700 31 — — 2,644 Total $ 4,502 $ 2,164 $ 288 $ 15 $ — $ 6,969 As of December 31, 2019 Loan-to-Value Ratios Year of Origination 0% - 50% >50% - 60% >60% - 70% >70% - 80% >80% and above Total 2020 $ — $ — $ — $ — $ — $ — 2019 121 138 227 211 26 723 2018 11 141 188 159 14 513 2017 153 283 697 12 15 1,160 2016 122 221 579 50 — 972 2015 39 502 248 15 — 804 2014 and prior 241 438 1,771 256 1 2,707 Total $ 687 $ 1,723 $ 3,710 $ 703 $ 56 $ 6,879 The following tables present commercial mortgage loans by year of origination and DSC ratio as of the dates indicated. The information is updated as of March 31, 2020 and December 31, 2019 , respectively. As of March 31, 2020 Debt Service Coverage Ratios Year of Origination >1.5x >1.25x - 1.5x >1.0x - 1.25x <1.0x Commercial mortgage loans secured by land or construction loans Total 2020 $ 167 $ 35 $ 25 $ — $ — $ 227 2019 540 106 65 — — 711 2018 319 13 98 41 — 471 2017 623 272 176 80 — 1,151 2016 864 68 30 4 — 966 2015 744 49 6 — — 799 2014 and prior 2,232 218 123 71 — 2,644 Total $ 5,489 $ 761 $ 523 $ 196 $ — $ 6,969 As of December 31, 2019 Debt Service Coverage Ratios Year of Origination >1.5x >1.25x - 1.5x >1.0x - 1.25x <1.0x Commercial mortgage loans secured by land or construction loans Total 2020 $ — $ — $ — $ — $ — $ — 2019 493 165 66 — — 724 2018 351 13 88 61 — 513 2017 608 292 167 93 — 1,160 2016 873 63 31 4 — 971 2015 743 50 6 6 — 805 2014 and prior 2,265 210 139 92 — 2,706 Total $ 5,333 $ 793 $ 497 $ 256 $ — $ 6,879 The following tables present the commercial mortgage loans by year of origination and U.S. region as of the dates indicated. The information is updated as of March 31, 2020 and December 31, 2019 , respectively. As of March 31, 2020 U.S. Region Year of Origination Pacific South Atlantic Middle Atlantic West South Central Mountain East North Central New England West North Central East South Central Total 2020 $ 32 $ 124 $ 17 $ 23 $ 15 $ 8 $ — $ — $ 8 $ 227 2019 99 201 20 189 68 64 18 14 38 711 2018 106 156 72 47 60 16 — 14 — 471 2017 176 127 458 170 106 63 6 45 — 1,151 2016 276 180 191 46 106 119 14 28 6 966 2015 223 217 171 42 54 68 12 12 — 799 2014 and prior 718 541 386 212 272 237 66 167 45 2,644 Total $ 1,630 $ 1,546 $ 1,315 $ 729 $ 681 $ 575 $ 116 $ 280 $ 97 $ 6,969 As of December 31, 2019 U.S. Region Year of Origination Pacific South Atlantic Middle Atlantic West South Central Mountain East North Central New England West North Central East South Central Total 2020 $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — 2019 100 200 35 187 67 63 18 15 37 722 2018 106 182 73 47 60 16 — 14 15 513 2017 177 128 464 171 107 63 6 45 — 1,161 2016 277 181 193 47 107 119 14 28 6 972 2015 226 218 171 43 54 68 12 12 — 804 2014 and prior 741 553 390 224 275 242 67 169 46 2,707 Total $ 1,627 $ 1,462 $ 1,326 $ 719 $ 670 $ 571 $ 117 $ 283 $ 104 $ 6,879 The following tables present the commercial mortgage loans by year of origination and property type as of the dates indicated. The information is updated as of March 31, 2020 and December 31, 2019 , respectively. As of March 31, 2020 Property Type Year of Origination Retail Industrial Apartments Office Hotel/Motel Other Mixed Use Total 2020 $ 49 $ 9 $ 116 $ 53 $ — $ — $ — $ 227 2019 55 130 388 105 33 — — 711 2018 78 121 206 26 4 36 — 471 2017 141 550 267 189 4 — — 1,151 2016 178 309 262 192 10 9 6 966 2015 198 283 131 89 30 68 — 799 2014 and prior 1,194 223 485 371 107 208 56 2,644 Total $ 1,893 $ 1,625 $ 1,855 $ 1,025 $ 188 $ 321 $ 62 $ 6,969 As of December 31, 2019 Property Type Year of Origination Retail Industrial Apartments Office Hotel/Motel Other Mixed Use Total 2020 $ — $ — $ — $ — $ — $ — $ — $ — 2019 55 130 400 105 32 — — 722 2018 83 122 221 46 4 36 — 512 2017 142 557 268 190 4 — — 1,161 2016 179 312 263 192 10 10 6 972 2015 198 285 133 90 30 69 — 805 2014 and prior 1,216 230 512 376 108 209 56 2,707 Total $ 1,873 $ 1,636 $ 1,797 $ 999 $ 188 $ 324 $ 62 $ 6,879 The following table summarizes the activity in the allowance for losses for commercial mortgage loans for the periods indicated: March 31, 2020 Allowance for credit losses, balance at January 1 $ 16 Credit losses on mortgage loans for which credit losses were not previously recorded 1 Initial allowance for credit losses recognized on financial assets accounted for as PCD — Increase (decrease) on mortgage loans with allowance recorded in previous period 5 Provision for expected credit losses 22 Writeoffs — Recoveries of amounts previously written off — Allowance for credit losses, end of period $ 22 The following table presents past due commercial mortgage loans as of the dates indicated: March 31, 2020 December 31, 2019 Delinquency: Current $ 6,969 $ 6,879 30-59 days past due — — 60-89 days past due — — Greater than 90 days past due — — Total $ 6,969 $ 6,879 Commercial mortgage loans are placed on non-accrual status when 90 days in arrears if the Company has concerns regarding the collectability of future payments, or if a loan has matured without being paid off or extended. As of March 31, 2020 and December 31, 2019 , the Company had no commercial mortgage loans in non-accrual status. There was no interest income recognized on loans in non-accrual status for the three months ended March 31, 2020 and December 31, 2019 . As of March 31, 2020 and December 31, 2019 , the Company had no commercial mortgage loans that were over 90 days or more past due but are not on non-accrual status. The Company had no commercial mortgage loans on non-accrual status for which there is no related allowance for credit losses as of March 31, 2020 . Net Investment Income The following table summarizes Net investment income for the periods indicated: Three Months Ended March 31, 2020 2019 Fixed maturities $ 571 $ 555 Equity securities 3 3 Mortgage loans on real estate 74 79 Policy loans 11 11 Short-term investments and cash equivalents 2 4 Other 55 23 Gross investment income 716 675 Less: investment expenses 18 17 Net investment income $ 698 $ 658 As of March 31, 2020 and December 31, 2019 , the Company had $5 and $1 , respectively, of investments in fixed maturities that did not produce net investment income. Fixed maturities are moved to a non-accrual status when the investment defaults. Interest income on fixed maturities is recorded when earned using an effective yield method, giving effect to amortization of premiums and accretion of discounts. Such interest income is recorded in Net investment income in the Condensed Consolidated Statements of Operations. Net Realized Capital Gains (Losses) Net realized capital gains (losses) comprise the difference between the amortized cost of investments and proceeds from sale and redemption, as well as losses incurred due to the credit-related and intent-related impairment of investments. Realized investment gains and losses are also primarily generated from changes in fair value of embedded derivatives within products and fixed maturities, changes in fair value of fixed maturities recorded at FVO and changes in fair value including accruals on derivative instruments, except for effective cash flow hedges. Net realized capital gains (losses) also include changes in fair value of equity securities. The cost of the investments on disposal is generally determined based on first-in-first-out ("FIFO") methodology. Net realized capital gains (losses) were as follows for the periods indicated: Three Months Ended March 31, 2020 2019 Fixed maturities, available-for-sale, including securities pledged $ (36 ) $ (23 ) Fixed maturities, at fair value option 33 67 Equity securities (10 ) 5 Derivatives (30 ) (64 ) Embedded derivatives - fixed maturities 8 1 Guaranteed benefit derivatives (193 ) 5 Mortgage Loans (5 ) — Other investments — (3 ) Net realized capital gains (losses) $ (233 ) $ (12 ) For the three months ended March 31, 2020 and 2019 , the change in the fair value of equity securities still held as of March 31, 2020 and 2019 was $(10) and $5 , respectively. Proceeds from the sale of fixed maturities, available-for-sale, and equity securities and the related gross realized gains and losses, before tax, were as follows for the periods indicated: Three Months Ended March 31, 2020 2019 Proceeds on sales $ 467 $ 1,589 Gross gains 11 22 Gross losses 20 24

Derivative Financial Instrument

Derivative Financial Instruments	3 Months Ended
	Mar. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	Derivative Financial Instruments The Company enters into the following types of derivatives: Interest rate caps and floors: The Company uses interest rate cap contracts to hedge the interest rate exposure arising from duration mismatches between assets and liabilities. Interest rate caps are also used to hedge interest rate exposure if rates rise above a specified level. The Company uses interest rate floor contracts to hedge interest rate exposure if rates decrease below a specified level. The Company pays an upfront premium to purchase these caps and floors. The Company utilizes these contracts in non-qualifying hedging relationships. Interest rate swaps: Interest rate swaps are used by the Company primarily to reduce market risks from changes in interest rates and to alter interest rate exposure arising from mismatches between assets and/or liabilities. Interest rate swaps are also used to hedge the interest rate risk associated with the value of assets it owns or in an anticipation of acquiring them. Using interest rate swaps, the Company agrees with another party to exchange, at specified intervals, the difference between fixed rate and floating rate interest payments, calculated by reference to an agreed upon notional principal amount. These transactions are entered into pursuant to master agreements that provide for a single net payment to be made to/from the counterparty at each due date. The Company utilizes these contracts in qualifying hedging relationships as well as non-qualifying hedging relationships. Foreign exchange swaps: The Company uses foreign exchange or currency swaps to reduce the risk of change in the value, yield or cash flows associated with certain foreign denominated invested assets. Foreign exchange swaps represent contracts that require the exchange of foreign currency cash flows against U.S. dollar cash flows at regular periods, typically quarterly or semi-annually. The Company utilizes these contracts in qualifying hedging relationships as well as non-qualifying hedging relationships. Credit default swaps: Credit default swaps are used to reduce credit loss exposure with respect to certain assets that the Company owns or to assume credit exposure on certain assets that the Company does not own. Payments are made to, or received from, the counterparty at specified intervals. In the event of a default on the underlying credit exposure, the Company will either receive a payment (purchased credit protection) or will be required to make a payment (sold credit protection) equal to the par minus recovery value of the swap contract. The Company utilizes these contracts in non-qualifying hedging relationships. Total return swaps: The Company uses total return swaps as a hedge against a decrease in variable annuity account values, which are invested in certain indices. Total return swaps are also used as a hedge of other corporate liabilities. Using total return swaps, the Company agrees with another party to exchange, at specified intervals, the difference between the economic risk and reward of assets or a market index and the London Interbank Offered Rates ("LIBOR") rate, calculated by reference to an agreed upon notional principal amount. No cash is exchanged at the onset of the contracts. Cash is paid and received over the life of the contract based upon the terms of the swaps. The Company utilizes these contracts in non-qualifying hedging relationships. Currency forwards: The Company utilizes currency forward contracts to hedge currency exposure related to its invested assets. The Company utilizes these contracts in non-qualifying hedging relationships. Forwards: The Company uses forward contracts to hedge certain invested assets against movement in interest rates, particularly mortgage rates. The Company uses To Be Announced mortgage-backed securities as an economic hedge against rate movements. The Company utilizes forward contracts in non-qualifying hedging relationships. Futures: Futures contracts are used to hedge against a decrease in certain equity indices. Such decreases may correlate to a decrease in variable annuity account values which would increase the possibility of the Company incurring an expense for guaranteed benefits in excess of account values. The Company also uses interest rate futures contracts to hedge its exposure to market risks due to changes in interest rates. The Company enters into exchange traded futures with regulated futures commissions that are members of the exchange. The Company also posts initial and variation margins, with the exchange, on a daily basis. The Company utilizes exchange-traded futures in non-qualifying hedging relationships. The Company may also use futures contracts as a hedge against an increase in certain equity indices. Swaptions: A swaption is an option to enter into a swap with a forward starting effective date. The Company uses swaptions to hedge the interest rate exposure associated with the minimum crediting rate and book value guarantees embedded in the retirement products that the Company offers. Increases in interest rates will generate losses on assets that are backing such liabilities. In certain instances, the Company locks in the economic impact of existing purchased swaptions by entering into offsetting written swaptions. The Company pays a premium when it purchases the swaption. The Company utilizes these contracts in non-qualifying hedging relationships. Options: The Company uses equity options to hedge against an increase in various equity indices. Such increases may result in increased payments to the holders of the fixed-index annuity ("FIA") and indexed universal life ("IUL") contracts. The Company pays an upfront premium to purchase these options. The Company utilizes these options in non-qualifying hedging relationships. Currency Options: The Company uses currency option contracts to hedge currency exposure related to its invested assets. The Company utilizes these contracts in non-qualifying hedging relationships. Managed custody guarantees ("MCGs"): The Company issues certain credited rate guarantees on variable fixed income portfolios that represent stand-alone derivatives. The market value is partially determined by, among other things, levels of or changes in interest rates, prepayment rates and credit ratings/spreads. Embedded derivatives: The Company also invests in certain fixed maturity instruments and has issued certain products that contain embedded derivatives for which market value is at least partially determined by, among other things, levels of or changes in domestic and/or foreign interest rates (short-term or long-term), exchange rates, prepayment rates, equity rates or credit ratings/spreads. In addition, the Company has entered into coinsurance with funds withheld arrangements, which contain embedded derivatives. The Company's use of derivatives is limited mainly to economic hedging to reduce the Company's exposure to cash flow variability of assets and liabilities, interest rate risk, credit risk, exchange rate risk and equity market risk. It is the Company's policy not to offset amounts recognized for derivative instruments and amounts recognized for the right to reclaim cash collateral or the obligation to return cash collateral arising from derivative instruments executed with the same counterparty under a master netting arrangement, which provides the Company with the legal right of offset. However, in accordance with the Chicago Mercantile Exchange ("CME") rules related to the variation margin payments, the Company is required to adjust the derivative balances with the variation margin payments related to its cleared derivatives executed through CME. The notional amounts and fair values of derivatives from continuing operations, including amounts related to businesses to be exited via reinsurance associated with the Individual Life Transaction, were as follows as of the dates indicated: March 31, 2020 December 31, 2019 Notional Amount Asset Fair Value Liability Fair Value Notional Asset Liability Derivatives: Qualifying for hedge accounting (1) Cash flow hedges: Interest rate contracts $ 30 $ — $ — $ 30 $ — $ — Foreign exchange contracts 772 83 — 771 12 21 Derivatives: Non-qualifying for hedge accounting (1) Interest rate contracts 26,856 783 1,038 25,027 294 371 Foreign exchange contracts 151 5 — 92 — 1 Equity contracts 446 4 28 400 10 8 Credit contracts 235 — 2 237 — 2 Embedded derivatives and Managed custody guarantees: Within fixed maturity investments N/A 27 — N/A 19 — Within products N/A — 227 N/A — 60 Within reinsurance agreements N/A — 52 N/A — 100 Managed custody guarantees N/A — 26 N/A — — Total $ 902 $ 1,373 $ 335 $ 563 (1) Open derivative contracts are reported as Derivatives assets or liabilities on the Condensed Consolidated Balance Sheets at fair value. N/A - Not Applicable The notional amounts and fair values of derivatives for businesses held for sale were as follows as of the dates indicated: March 31, 2020 December 31, 2019 Notional Amount Asset Fair Value Liability Fair Value Notional Asset Liability Derivatives: Qualifying for hedge accounting (1) Cash flow hedges: Interest rate contracts $ 1 $ — $ — $ 1 $ — $ — Foreign exchange contracts 19 4 — 19 1 1 Derivatives: Non-qualifying for hedge accounting (1) Interest rate contracts 2,212 50 55 2,227 49 56 Foreign exchange contracts 31 1 — 18 — — Equity contracts 1,821 93 3 1,753 254 20 Embedded derivatives and Managed custody guarantees: Within fixed maturity investments N/A 11 — N/A 8 — Within products N/A — 82 N/A — 217 Within reinsurance agreements N/A — 58 N/A — 75 Total $ 159 $ 198 $ 312 $ 369 (1) Open derivative contracts are reported as Derivatives assets or liabilities on the Condensed Consolidated Balance Sheets at fair value. N/A - Not Applicable Based on the notional amounts, a substantial portion of the Company’s derivative positions was not designated or did not qualify for hedge accounting as part of a hedging relationship as of March 31, 2020 and December 31, 2019 . The Company utilizes derivative contracts mainly to hedge exposure to variability in cash flows, interest rate risk, credit risk, foreign exchange risk and equity market risk. The majority of derivatives used by the Company are designated as product hedges, which hedge the exposure arising from insurance liabilities or guarantees embedded in the contracts the Company offers through various product lines. These derivatives do not qualify for hedge accounting as they do not meet the criteria of being "highly effective" as outlined in ASC Topic 815, but do provide an economic hedge, which is in line with the Company’s risk management objectives. The Company also uses derivatives contracts to hedge its exposure to various risks associated with the investment portfolio. The Company does not seek hedge accounting treatment for certain of these derivatives as they generally do not qualify for hedge accounting due to the criteria required under the portfolio hedging rules outlined in ASC Topic 815. The Company also uses credit default swaps coupled with other investments in order to produce the investment characteristics of otherwise permissible investments that do not qualify as effective accounting hedges under ASC Topic 815. Although the Company has not elected to net its derivative exposures, the notional amounts and fair values of Over-The-Counter ("OTC") and cleared derivatives excluding exchange traded contracts for continuing operations and businesses held for sale are presented in the tables below as of the dates indicated: March 31, 2020 Continuing operations: (1) Notional Amount Asset Fair Value Liability Fair Value Credit contracts $ 235 $ — $ 2 Equity contracts 290 3 28 Foreign exchange contracts 923 88 — Interest rate contracts 25,368 782 1,037 873 1,067 Counterparty netting (2) (715 ) (715 ) Cash collateral netting (2) (151 ) (351 ) Securities collateral netting (2) (5 ) — Net receivables/payables $ 2 $ 1 (1) Includes amounts related to businesses to be exited via reinsurance associated with the Individual Life Transaction, (2) Represents the netting of receivable balances with payable balances, net of collateral, for the same counterparty under eligible netting agreements. March 31, 2020 Businesses held for sale: Notional Amount Asset Fair Value Liability Fair Value Credit contracts $ — $ — $ — Equity contracts 1,821 93 3 Foreign exchange contracts 50 5 — Interest rate contracts 2,213 50 55 148 58 Counterparty netting (1) (56 ) (56 ) Cash collateral netting (1) (73 ) (2 ) Securities collateral netting (1) (9 ) — Net receivables/payables $ 10 $ — (1) Represents the netting of receivable balances with payable balances, net of collateral, for the same counterparty under eligible netting agreements. December 31, 2019 Continuing operations: (1) Notional Amount Asset Fair Value Liability Fair Value Credit contracts $ 237 $ — $ 2 Equity contracts 293 9 7 Foreign exchange contracts 863 12 22 Interest rate contracts 23,634 295 371 316 402 Counterparty netting (2) (290 ) (290 ) Cash collateral netting (2) (25 ) (100 ) Securities collateral netting (2) — (5 ) Net receivables/payables $ 1 $ 7 (1) Includes amounts related to businesses to be exited via reinsurance associated with the Individual Life Transaction, (2) Represents the netting of receivable balances with payable balances, net of collateral, for the same counterparty under eligible netting agreements. December 31, 2019 Businesses held for sale: Notional Amount Asset Fair Value Liability Fair Value Credit contracts $ — $ — $ — Equity contracts 1,753 254 20 Foreign exchange contracts 37 1 1 Interest rate contracts 2,228 49 56 304 77 Counterparty netting (1) (76 ) (76 ) Cash collateral netting (1) (206 ) — Securities collateral netting (1) (17 ) — Net receivables/payables $ 5 $ 1 (1) Represents the netting of receivable balances with payable balances, net of collateral, for the same counterparty under eligible netting agreements. Collateral Under the terms of the OTC Derivative International Swaps and Derivatives Association, Inc. ("ISDA") agreements, the Company may receive from, or deliver to, counterparties collateral to assure that terms of the ISDA agreements will be met with regard to the Credit Support Annex ("CSA"). The terms of the CSA call for the Company to pay interest on any cash received equal to the Federal Funds rate. To the extent cash collateral is received and delivered, it is included in Payables under securities loan and repurchase agreements, including collateral held and Short-term investments under securities loan agreements, including collateral delivered, respectively, on the Condensed Consolidated Balance Sheets and is reinvested in short-term investments. Collateral held is used in accordance with the CSA to satisfy any obligations. Investment grade bonds owned by the Company are the source of noncash collateral posted, which is reported in Securities pledged on the Condensed Consolidated Balance Sheets. Continuing operations: As of March 31, 2020 , the Company held $106 and pledged $292 of net cash collateral related to OTC derivative contracts and cleared derivative contracts, respectively. As of December 31, 2019 , the Company held $9 and $82 of net cash collateral related to OTC derivative contracts and cleared derivative contracts, respectively. In addition, as of March 31, 2020 , the Company delivered $210 of securities and held $7 of securities as collateral. As of December 31, 2019 , the Company delivered $183 of securities and held no securities as collateral. Businesses held for sale: As of March 31, 2020 , the Company held $75 and pledged $1 of net cash collateral related to OTC derivative contracts and cleared derivative contracts, respectively. As of December 31, 2019 , the Company held $213 and no net cash collateral related to OTC derivative contracts and cleared derivative contracts, respectively. In addition, as of March 31, 2020 , the Company delivered $2 of securities and held $9 of securities as collateral. As of December 31, 2019 , the Company delivered $2 of securities and held $18 of securities as collateral. The location and effect of derivatives qualifying for hedge accounting from continuing operations, including amounts related to businesses to be exited via reinsurance associated with the Individual Life Transaction, on the Condensed Consolidated Statements of Operations and Condensed Consolidated Statements of Comprehensive Income are as follows for the period indicated: Three Months Ended March 31, 2020 2019 Interest Rate Contracts Foreign Exchange Contracts Interest Rate Contracts Foreign Exchange Contracts Derivatives: Qualifying for hedge accounting Location of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income into Income Net investment income Net investment income Net investment income Net investment income Amount of Gain or (Loss) Recognized in Other Comprehensive Income $ 2 $ 92 $ 1 $ (9 ) Amount of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income — 3 — 3 The location and amount of gain (loss) recognized from continuing operations, including amounts related to businesses to be exited via reinsurance associated with the Individual Life Transaction, in the Condensed Consolidated Statements of Operations for derivatives qualifying for hedge accounting are as follows for the period indicated: Three Months Ended March 31, 2020 2019 Net Investment Income Other net realized capital gains/(losses) Net Investment Income Other net realized capital gains/(losses) Total amounts of line items presented in the statement of operations in which the effects of cash flow hedges are recorded $ 698 $ (213 ) $ 658 $ 14 Derivatives: Qualifying for hedge accounting Cash flow hedges: Foreign exchange contracts: Gain (loss) reclassified from accumulated other comprehensive income into income 3 — 3 — The location and effect of derivatives not designated as hedging instruments from continuing operations, including amounts related to businesses to be exited via reinsurance associated with the Individual Life Transaction, on the Condensed Consolidated Statements of Operations are as follows for the periods indicated: Location of Gain or (Loss) Recognized in Income on Derivative Three Months Ended March 31, 2020 2019 Derivatives: Non-qualifying for hedge accounting Interest rate contracts Other net realized capital gains (losses) $ (37 ) $ (52 ) Foreign exchange contracts Other net realized capital gains (losses) 7 2 Equity contracts Other net realized capital gains (losses) — (16 ) Credit contracts Other net realized capital gains (losses) 2 3 Embedded derivatives and Managed custody guarantees: Within fixed maturity investments Other net realized capital gains (losses) 8 1 Within products Other net realized capital gains (losses) (167 ) 4 Within reinsurance agreements Policyholder benefits 65 (59 ) Managed custody guarantees Other net realized capital gains (losses) (26 ) — Total $ (148 ) $ (117 ) The location and effect of derivatives not designated as hedging instruments from discontinued operations on the Condensed Consolidated Statements of Operations are as follows for the periods indicated: Location of Gain or (Loss) Recognized in Income on Derivative Three Months Ended March 31, 2020 2019 Derivatives: Non-qualifying for hedge accounting Foreign exchange contracts Income (loss) from discontinued operations, net of tax 1 — Equity contracts Income (loss) from discontinued operations, net of tax (153 ) 63 Credit contracts Income (loss) from discontinued operations, net of tax — 1 Embedded derivatives and Managed custody guarantees: Within fixed maturity investments Income (loss) from discontinued operations, net of tax 2 — Within products Income (loss) from discontinued operations, net of tax 145 (62 ) Total $ (5 ) $ 2

Fair Value Measurements (exclud

Fair Value Measurements (excluding Consolidated Investment Entities)	3 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements (excluding Consolidated Investment Entities)	Fair Value Measurements (excluding Consolidated Investment Entities) Fair Value Measurement The following table presents the Company's hierarchy for its assets and liabilities from continuing operations, including amounts related to businesses to be exited via reinsurance associated with the Individual Life Transaction, measured at fair value on a recurring basis as of March 31, 2020 : Level 1 Level 2 Level 3 Total Assets: Fixed maturities, including securities pledged: U.S. Treasuries $ 1,253 $ 342 $ — $ 1,595 U.S. Government agencies and authorities — 100 — 100 State, municipalities and political subdivisions — 1,315 — 1,315 U.S. corporate public securities — 13,890 66 13,956 U.S. corporate private securities — 4,352 1,291 5,643 Foreign corporate public securities and foreign governments (1) — 4,002 4 4,006 Foreign corporate private securities (1) — 4,139 277 4,416 Residential mortgage-backed securities — 5,577 30 5,607 Commercial mortgage-backed securities — 3,484 — 3,484 Other asset-backed securities — 1,785 87 1,872 Total fixed maturities, including securities pledged 1,253 38,986 1,755 41,994 Equity securities 57 — 119 176 Derivatives: Interest rate contracts 36 697 50 783 Foreign exchange contracts — 88 — 88 Equity contracts 2 2 — 4 Cash and cash equivalents, short-term investments and short-term investments under securities loan agreements 3,263 33 — 3,296 Assets held in separate accounts 61,851 6,945 141 68,937 Total assets $ 66,462 $ 46,751 $ 2,065 $ 115,278 Percentage of Level to total 58 % 40 % 2 % 100 % Liabilities: Derivatives: Guaranteed benefit derivatives (2) — — 253 253 Other derivatives: Interest rate contracts 2 986 50 1,038 Equity contracts — 28 — 28 Credit contracts — 2 — 2 Embedded derivative on reinsurance — 52 — 52 Total liabilities $ 2 $ 1,068 $ 303 $ 1,373 (1) Primarily U.S. dollar denominated. (2) Includes GMWBL, GMWB,FIA, Stabilizer and MCGs. The following table presents the Company's hierarchy for its assets and liabilities related to businesses held for sale measured at fair value on a recurring basis as of March 31, 2020 : Level 1 Level 2 Level 3 Total Assets: Fixed maturities, including securities pledged: U.S. Treasuries $ 534 $ 384 $ — $ 918 U.S. Government agencies and authorities — 173 — 173 State, municipalities and political subdivisions — 438 — 438 U.S. corporate public securities — 5,612 34 5,646 U.S. corporate private securities — 580 288 868 Foreign corporate public securities and foreign governments (1) — 1,362 3 1,365 Foreign corporate private securities (1) — 463 68 531 Residential mortgage-backed securities — 585 — 585 Commercial mortgage-backed securities — 983 — 983 Other asset-backed securities — 538 7 545 Total fixed maturities, including securities pledged 534 11,118 400 12,052 Equity securities 2 — 30 32 Derivatives: Interest rate contracts — 1 49 50 Foreign exchange contracts — 5 — 5 Equity contracts — 10 83 93 Cash and cash equivalents, short-term investments and short-term investments under securities loan agreements — — — — Assets held in separate accounts — — — — Total assets $ 536 $ 11,134 $ 562 $ 12,232 Percentage of Level to total 4 % 91 % 5 % 100 % Liabilities: Derivatives: Guaranteed benefit derivatives - IUL — — 82 82 Other derivatives: Interest rate contracts — 5 50 55 Equity contracts — 3 — 3 Credit contracts — — — — Embedded derivative on reinsurance — 58 — 58 Total liabilities $ — $ 66 $ 132 $ 198 (1) Primarily U.S. dollar denominated. The following table presents the Company's hierarchy for its assets and liabilities from continuing operations, including amounts related to businesses to be exited via reinsurance associated with the Individual Life Transaction, measured at fair value on a recurring basis as of December 31, 2019 : Level 1 Level 2 Level 3 Total Assets: Fixed maturities, including securities pledged: U.S. Treasuries $ 1,083 $ 299 $ — $ 1,382 U.S. Government agencies and authorities — 95 — 95 State, municipalities and political subdivisions — 1,323 — 1,323 U.S. corporate public securities — 14,864 74 14,938 U.S. corporate private securities — 4,578 1,457 6,035 Foreign corporate public securities and foreign governments (1) — 4,341 — 4,341 Foreign corporate private securities (1) — 4,503 328 4,831 Residential mortgage-backed securities — 5,181 23 5,204 Commercial mortgage-backed securities — 3,574 — 3,574 Other asset-backed securities — 1,977 78 2,055 Total fixed maturities, including securities pledged 1,083 40,735 1,960 43,778 Equity securities 68 — 128 196 Derivatives: Interest rate contracts 2 243 49 294 Foreign exchange contracts — 12 — 12 Equity contracts — 10 — 10 Cash and cash equivalents, short-term investments and short-term investments under securities loan agreements 2,613 31 — 2,644 Assets held in separate accounts 75,405 6,149 116 81,670 Total assets $ 79,171 $ 47,180 $ 2,253 $ 128,604 Percentage of Level to total 61 % 37 % 2 % 100 % Liabilities: Derivatives: Guaranteed benefit derivatives (2) — — 60 60 Other derivatives: Interest rate contracts — 322 49 371 Foreign exchange contracts — 22 — 22 Equity contracts — 8 — 8 Credit contracts — 2 — 2 Embedded derivative on reinsurance — 100 — 100 Total liabilities $ — $ 454 $ 109 $ 563 (1) Primarily U.S. dollar denominated. (2) Includes GMWBL, GMWB, FIA, Stabilizer and MCGs. The following table presents the Company's hierarchy for its assets and liabilities related to businesses held for sale measured at fair value on a recurring basis as of December 31, 2019 : Level 1 Level 2 Level 3 Total Assets: Fixed maturities, including securities pledged: U.S. Treasuries $ 472 $ 314 $ — $ 786 U.S. Government agencies and authorities — 161 — 161 State, municipalities and political subdivisions — 439 — 439 U.S. corporate public securities — 5,949 32 5,981 U.S. corporate private securities — 596 316 912 Foreign corporate public securities and foreign governments (1) — 1,490 7 1,497 Foreign corporate private securities (1) — 438 80 518 Residential mortgage-backed securities — 588 — 588 Commercial mortgage-backed securities — 995 — 995 Other asset-backed securities — 587 6 593 Total fixed maturities, including securities pledged 472 11,557 441 12,470 Equity securities 2 — 33 35 Derivatives: Interest rate contracts — — 49 49 Foreign exchange contracts — 1 — 1 Equity contracts — 52 202 254 Cash and cash equivalents, short-term investments and short-term investments under securities loan agreements 533 — — 533 Assets held in separate accounts 1,485 — — 1,485 Total assets $ 2,492 $ 11,610 $ 725 $ 14,827 Percentage of Level to total 17 % 78 % 5 % 100 % Liabilities: Derivatives: Guaranteed benefit derivatives - IUL $ — $ — $ 217 $ 217 Other derivatives: Interest rate contracts — 7 49 56 Foreign exchange contracts — 1 — 1 Equity contracts — 20 — 20 Embedded derivative on reinsurance — 75 — 75 Total liabilities $ — $ 103 $ 266 $ 369 Valuation of Financial Assets and Liabilities at Fair Value Certain assets and liabilities are measured at estimated fair value on the Company’s Consolidated Balance Sheets. The Company defines fair value as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The exit price and the transaction (or entry) price will be the same at initial recognition in many circumstances. However, in certain cases, the transaction price may not represent fair value. The fair value of a liability is based on the amount that would be paid to transfer a liability to a third-party with an equal credit standing. Fair value is required to be a market-based measurement that is determined based on a hypothetical transaction at the measurement date, from a market participant’s perspective. The Company considers three broad valuation approaches when a quoted price is unavailable: (i) the market approach, (ii) the income approach and (iii) the cost approach. The Company determines the most appropriate valuation technique to use, given the instrument being measured and the availability of sufficient inputs. The Company prioritizes the inputs to fair valuation approaches and allows for the use of unobservable inputs to the extent that observable inputs are not available. The Company utilizes a number of valuation methodologies to determine the fair values of its financial assets and liabilities in conformity with the concepts of exit price and the fair value hierarchy as prescribed in ASC Topic 820. Valuations are obtained from third-party commercial pricing services, brokers and industry-standard, vendor-provided software that models the value based on market observable inputs. The valuations obtained from third-party commercial pricing services are non-binding. The Company reviews the assumptions and inputs used by third-party commercial pricing services for each reporting period in order to determine an appropriate fair value hierarchy level. The documentation and analysis obtained from third-party commercial pricing services are reviewed by the Company, including in-depth validation procedures confirming the observability of inputs. The valuations are reviewed and validated monthly through the internal valuation committee price variance review, comparisons to internal pricing models, back testing to recent trades or monitoring of trading volumes. The valuation approaches and key inputs for each category of assets or liabilities that are classified within Level 2 and Level 3 of the fair value hierarchy are presented below. For fixed maturities classified as Level 2 assets, fair values are determined using a matrix-based market approach, based on prices obtained from third-party commercial pricing services and the Company’s matrix and analytics-based pricing models, which in each case incorporate a variety of market observable information as valuation inputs. The market observable inputs used for these fair value measurements, by fixed maturity asset class, are as follows: U.S. Treasuries: Fair value is determined using third-party commercial pricing services, with the primary inputs being stripped interest and principal U.S. Treasury yield curves that represent a U.S. Treasury zero-coupon curve. U.S. government agencies and authorities, State, municipalities and political subdivisions: Fair value is determined using third-party commercial pricing services, with the primary inputs being U.S. Treasury yield curves, trades of comparable securities, credit spreads off benchmark yields and issuer ratings. U.S. corporate public securities, Foreign corporate public securities and foreign governments: Fair value is determined using third-party commercial pricing services, with the primary inputs being benchmark yields, trades of comparable securities, issuer ratings, bids and credit spreads off benchmark yields. U.S. corporate private securities and Foreign corporate private securities: Fair values are determined using a matrix and analytics-based pricing model. The model incorporates the current level of risk-free interest rates, current corporate credit spreads, credit quality of the issuer and cash flow characteristics of the security. The model also considers a liquidity spread, the value of any collateral, the capital structure of the issuer, the presence of guarantees, and prices and quotes for comparably rated publicly traded securities. RMBS, CMBS and ABS: Fair value is determined using third-party commercial pricing services, with the primary inputs being credit spreads off benchmark yields, prepayment speed assumptions, current and forecasted loss severity, debt service coverage ratios, collateral type, payment priority within tranche and the vintage of the loans underlying the security. Generally, the Company does not obtain more than one vendor price from pricing services per instrument. The Company uses a hierarchy process in which prices are obtained from a primary vendor and, if that vendor is unable to provide the price, the next vendor in the hierarchy is contacted until a price is obtained or it is determined that a price cannot be obtained from a commercial pricing service. When a price cannot be obtained from a commercial pricing service, independent broker quotes are solicited. Securities priced using independent broker quotes are classified as Level 3. Fair values of privately placed bonds are determined primarily using a matrix-based pricing model and are generally classified as Level 2 assets. The model considers the current level of risk-free interest rates, current corporate spreads, the credit quality of the issuer and cash flow characteristics of the security. Also considered are factors such as the net worth of the borrower, the value of collateral, the capital structure of the borrower, the presence of guarantees and the Company’s evaluation of the borrower’s ability to compete in its relevant market. Using this data, the model generates estimated market values, which the Company considers reflective of the fair value of each privately placed bond. Equity securities: Level 2 and Level 3 equity securities, typically private equities or equity securities not traded on an exchange, are valued by other sources such as analytics or brokers. Derivatives: Derivatives are carried at fair value, which is determined using the Company’s derivative accounting system in conjunction with observable key financial data from third-party sources, such as yield curves, exchange rates, S&P 500 Index prices, LIBOR and Overnight Index Swap ("OIS") rates. The Company uses OIS for valuations of collateralized interest rate derivatives, which are obtained from third-party sources. For those derivatives that are unable to be valued by the accounting system, the Company typically utilizes values established by third-party brokers. Counterparty credit risk is considered and incorporated in the Company’s valuation process through counterparty credit rating requirements and monitoring of overall exposure. It is the Company’s policy to transact only with investment grade counterparties with a credit rating of A- or better. The Company’s nonperformance risk is also considered and incorporated in the Company’s valuation process. The Company also has certain credit default swaps and options that are priced by third party vendors or by using models that primarily use market observable inputs, but contain inputs that are not observable to market participants, which have been classified as Level 3. The remaining derivative instruments are valued based on market observable inputs and are classified as Level 2. Guaranteed benefit derivatives: The Company records reserves for annuity contracts containing GMWBL and GMWB riders. The guarantee is an embedded derivative and is required to be accounted for separately from the host variable annuity contract. The fair value of the obligation is calculated based on actuarial and capital market assumptions related to the projected cash flows, including benefits and related contract charges, over the anticipated life of the related contracts. The cash flow estimates are produced by using stochastic techniques under a variety of market return scenarios and other market implied assumptions. These derivatives are classified as Level 3 liabilities in the fair value hierarchy. The index-crediting feature in the Company's FIA and IUL contracts is an embedded derivative that is required to be accounted for separately from the host contract. The fair value of the obligation is calculated based on actuarial and capital market assumptions related to the projected cash flows, including benefits and related contract charges, over the anticipated life of the related contracts for FIAs and over the current indexed term for IULs. The cash flow estimates are produced by market implied assumptions. These derivatives are classified as Level 3 liabilities in the fair value hierarchy. The Company records reserves for Stabilizer and MCG contracts containing guaranteed credited rates. The guarantee is treated as an embedded derivative or a stand-alone derivative (depending on the underlying product) and is required to be reported at fair value. The estimated fair value is determined based on the present value of projected future claims, minus the present value of future guaranteed premiums. At inception of the contract, the Company projects a guaranteed premium to be equal to the present value of the projected future claims. The income associated with the contracts is projected using relevant actuarial and capital market assumptions, including benefits and related contract charges, over the anticipated life of the related contracts. The cash flow estimates are produced by using stochastic techniques under a variety of risk neutral scenarios and other market implied assumptions. These derivatives are classified as Level 3 liabilities. The discount rate used to determine the fair value of the Company's GMWBL, GMWB, FIA, IUL and Stabilizer embedded derivative liabilities and the stand-alone derivative for MCG includes an adjustment to reflect the risk that these obligations will not be fulfilled ("nonperformance risk"). The nonperformance risk adjustment incorporates a blend of observable, similarly rated peer holding company credit spreads, adjusted to reflect the credit quality of the individual insurance subsidiary that issued the guarantee, as well as an adjustment to reflect the non-default spreads and the priority and recovery rates of policyholder claims. Embedded derivatives on reinsurance: The carrying value of embedded derivatives is estimated based upon the change in the fair value of the assets supporting the funds withheld payable under reinsurance agreements. The fair value of the embedded derivative is based on market observable inputs and is classified as Level 2. Level 3 Financial Instruments The fair values of certain assets and liabilities are determined using prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement (i.e., Level 3 as defined by ASC Topic 820), including but not limited to liquidity spreads for investments within markets deemed not currently active. These valuations, whether derived internally or obtained from a third-party, use critical assumptions that are not widely available to estimate market participant expectations in valuing the asset or liability. In addition, the Company has determined, for certain financial instruments, an active market is such a significant input to determine fair value that the presence of an inactive market may lead to classification in Level 3. In light of the methodologies employed to obtain the fair values of financial assets and liabilities classified as Level 3, additional information is presented below. The following table summarizes the change in fair value of the Company's Level 3 assets and liabilities from continuing operations, including amounts related to businesses to be exited via reinsurance associated with the Individual Life Transaction, and transfers in and out of Level 3 for the period indicated: Three Months Ended March 31, 2020 Fair Value as of January 1 Total Realized/Unrealized Gains (Losses) Included in: Purchases Issuances Sales Settlements Transfers into Level 3 Transfers out of Level 3 Fair Value as of March 31 Change In Unrealized Gains (Losses) Included in Earnings (3) Change In (3) Net Income OCI Fixed maturities, including securities pledged: U.S. corporate public securities $ 74 $ — $ — $ — $ — $ — $ (3 ) $ — $ (5 ) $ 66 $ — $ — U.S. corporate private securities 1,457 1 (74 ) 46 — (3 ) (82 ) — (54 ) 1,291 — (74 ) Foreign corporate public securities and foreign governments (1) — — — 4 — — — — — 4 — — Foreign corporate private securities (1) 328 (3 ) (51 ) 3 — (4 ) — 10 (6 ) 277 — (51 ) Residential mortgage-backed securities 23 (2 ) — 17 — — — — (8 ) 30 (2 ) — Other asset-backed securities 78 — — 10 — — (1 ) — — 87 — — Total fixed maturities, including securities pledged 1,960 (4 ) (125 ) 80 — (7 ) (86 ) 10 (73 ) 1,755 (2 ) (125 ) Equity securities 128 (9 ) — — — — — — — 119 (9 ) — Derivatives: Guaranteed benefit derivatives (2)(5) (60 ) (193 ) — — — — — — — (253 ) — — Assets held in separate accounts (4) 116 (3 ) — 47 — (1 ) — — (18 ) 141 — — (1) Primarily U.S. dollar denominated. (2) All gains and losses on Level 3 liabilities are classified as realized gains (losses) for the purpose of this disclosure because it is impracticable to track realized and unrealized gains (losses) separately on a contract-by contract basis. These amounts are included in Other net realized gains (losses) in the Condensed Consolidated Statements of Operations. (3) For financial instruments still held as of March 31 amounts are included in Net investment income and Total net realized capital gains (losses) in the Condensed Consolidated Statements of Operations or Unrealized gains (losses) on securities in the Condensed Consolidated Statements of Comprehensive Income. (4) The investment income and realized gains (losses) and change in unrealized gains (losses) included in net income for separate account assets are offset by an equal amount for separate account liabilities, which results in a net zero impact on Net income (loss) for the Company. (5) Includes GMWBL, GMWB, FIA, Stabilizer and MCGs. The following table summarizes the change in fair value of the Company's Level 3 assets and liabilities related to businesses held for sale and transfers in and out of Level 3 for the period indicated: Three Months Ended March 31, 2020 Fair Value as of January 1 Total Realized/Unrealized Gains (Losses) Included in: Purchases Issuances Sales Settlements Transfers into Level 3 Transfers out of Level 3 Fair Value as of March 31 Change In (3) Change In (3) Net Income OCI Fixed maturities, including securities pledged: U.S. corporate public securities $ 32 $ — $ 2 $ 1 $ — $ — $ (1 ) $ — $ — $ 34 $ — $ 2 U.S. corporate private securities 316 — (17 ) 9 — — (10 ) — (10 ) 288 — (17 ) Foreign corporate public securities and foreign governments (1) 7 — (4 ) — — — — — — 3 — (4 ) Foreign corporate private securities (1) 80 — (13 ) 1 — — — — — 68 — (13 ) Residential mortgage-backed securities — — — — — — — — — — — — Other asset-backed securities 6 — — 2 — — (1 ) — — 7 — — Total fixed maturities, including securities pledged 441 — (32 ) 13 — — (12 ) — (10 ) 400 — (32 ) Equity securities 33 (3 ) — — — — — — — 30 (3 ) — Derivatives: Guaranteed benefit derivatives - IUL (2) (217 ) 145 — — (16 ) — 7 — — (81 ) — — Other derivatives, net 202 (127 ) — 14 — — (6 ) — — 83 (119 ) — (1) Primarily U.S. dollar denominated. (2) All gains and losses on Level 3 liabilities are classified as realized gains (losses) for the purpose of this disclosure because it is impracticable to track realized and unrealized gains (losses) separately on a contract-by contract basis. (3) For financial instruments still held as of March 31 amounts are included in Income (loss) from discontinued operations, net of tax in the Condensed Consolidated Statements of Operations or Unrealized gains (losses) on securities in the Condensed Consolidated Statements of Comprehensive Income. The following table summarizes the change in fair value of the Company's Level 3 assets and liabilities from continuing operations, including amounts related to businesses to be exited via reinsurance associated with the Individual Life Transaction, and transfers in and out of Level 3 for the period indicated: Three Months Ended March 31, 2019 Fair Value as of January 1 Total Purchases Issuances Sales Settlements Transfers Transfers Fair Value as of March 31 Change In (3) Net OCI Fixed maturities, including securities pledged: U.S. corporate public securities $ 34 $ — $ 1 $ — $ — $ — $ — $ 38 $ — $ 73 $ — U.S. corporate private securities 1,134 — 43 129 — (13 ) (13 ) — — 1,280 — Foreign corporate public securities and foreign governments (1) — — — — — — — — — — — Foreign corporate private securities (1) 217 (25 ) 34 72 — (80 ) — — — 218 — Residential mortgage-backed securities 28 (2 ) — 23 — — — — — 49 (2 ) Commercial mortgage-backed securities 14 — — — — — (1 ) — — 13 — Other asset-backed securities 127 — 1 29 — — (1 ) — (25 ) 131 — Total fixed maturities, including securities pledged 1,554 (27 ) 79 253 — (93 ) (15 ) 38 (25 ) 1,764 (2 ) Equity securities, available-for-sale 104 4 — 42 — — — — — 150 4 Derivatives: Guaranteed benefit derivatives (2)(5) (44 ) 5 — — — — (2 ) — — (41 ) — Assets held in separate accounts (4) 62 1 — 6 — — — 3 (5 ) 67 — (1) Primarily U.S. dollar denominated. (2) All gains and losses on Level 3 liabilities are classified as realized gains (losses) for the purpose of this disclosure because it is impracticable to track realized and unrealized gains (losses) separately on a contract-by contract basis. These amounts are included in Other net realized gains (losses) in the Condensed Consolidated Statements of Operations. (3) For financial instruments still held as of March 31 , amounts are included in Net investment income and Total net realized capital gains (losses) in the Condensed Consolidated Statements of Operations. (4) The investment income and realized gains (losses) and change in unrealized gains (losses) included in net income for separate account assets are offset by an equal amount for separate account liabilities, which results in a net zero impact on Net income (loss) for the Company. (5) Includes GMWBL, GMWB, FIA, Stabilizer and MCGs. The following table summarizes the change in fair value of the Company's Level 3 assets and liabilities related to businesses held for sale and transfers in and out of Level 3 for the period indicated: Three Months Ended March 31, 2019 Fair Value as of January 1 Total Realized/Unrealized Gains (Losses) Included in: Purchases Issuances Sales Settlements Transfers into Level 3 Transfers out of Level 3 Fair Value as of March 31 Change In Unrealized Gains (Losses) Included in Earnings (3) Net Income OCI Fixed maturities, including securities pledged: U.S. corporate public securities $ 10 $ — $ 1 $ 3 $ — $ — $ — $ 21 $ — $ 35 $ — U.S. corporate private securities 259 — 11 19 — — (4 ) — — 285 — Foreign corporate public securities and foreign governments (1) 11 — (2 ) — — — — — — 9 — Foreign corporate private securities (1) 34 (4 ) 6 25 — (13 ) — — — 48 — Residential mortgage-backed securities — — — — — — — — — — — Commercial mortgage-backed securities — — — 3 — — — — — 3 — Other asset-backed securities 11 — — 2 — — — — — 13 — Total fixed maturities including securities pledged 325 (4 ) 16 52 — (13 ) (4 ) 21 — 393 — Equity securities 25 2 — 7 — — — — — 34 2 Derivatives: Guaranteed benefit derivatives - IUL (2) (82 ) (63 ) — — (13 ) — 12 — — (146 ) — Other derivatives, net 83 52 — 11 — — (9 ) — — 137 54 (1) Primarily U.S. dollar denominated. (2) All gains and losses on Level 3 liabilities are classified as realized gains (losses) for the purpose of this disclosure because it is impracticable to track realized and unrealized gains (losses) separately on a contract-by contract basis. (3) For financial instruments still held as of March 31 amounts are included in Income (loss) from discontinued operations, net of tax in the Condensed Consolidated Statements of Operations. For the three months ended March 31, 2020 and 2019 , the transfers in and out of Level 3 for fixed maturities were due to the variation in inputs relied upon for valuation each quarter. Securities that are primarily valued using independent broker quotes when prices are not available from one of the commercial pricing services are reflected as transfers into Level 3. When securities are valued using more widely available information, the securities are transferred out of Level 3 and into Level 1 or 2, as appropriate. Significant Unobservable Inputs The Company's Level 3 fair value measurements of its fixed maturities, equity securities and equity and credit derivative contracts are primarily based on broker quotes.. Quantitative information about the significant unobservable inputs used in the Company's Level 3 fair value measurements of its guaranteed benefit derivatives is presented in the following sections and table. Significant unobservable inputs used in the fair value measurements of IULs include nonperformance risk and policyholder behavior assumptions, such as lapses. Following is a description of selected inputs: Nonperformance Risk: For the estimate of the fair value of embedded derivatives associated with the Company's product guarantees, the Company uses a blend of observable, similarly rated peer holding company credit spreads, adjusted to reflect the credit quality of the individual insurance company subsidiary that issued the guarantee as well as an adjustment to reflect the non-default spreads and the priority and recovery rates of policyholder claims. Actuarial Assumptions: Management regularly reviews actuarial assumptions, which are based on the Company's experience and periodically reviewed against industry standards. Industry standards and Company experience may be limited on certain products. The following table presents the unobservable inputs for IUL for businesses held for sale as of the dates indicated: March 31, 2020 December 31, 2019 Unobservable Input Range (1) Weighted Average (3) Range (1) Interest rate implied volatility — — — Nonperformance risk 1.42% to 1.49% 1.46 % 0.22% to 0.42% Actuarial Assumptions: Lapses 2% to 10% 6 % 2% to 10% Mortality — (2) — — (2) (1) Represents the range of reasonable assumptions that management has used in its fair value calculations. (2) The mortality rate is derived based on similarly underwritten business (3) Unobservable inputs were weighted by the relative fair value of the instruments. For credit contracts, the average represents the arithmetic average of the inputs and is not weighted by the relative fair value or notional amount. Generally, the following will cause an increase (decrease) in the IUL embedded derivative fair value liabilities: • A decrease (increase) in nonperformance risk • A decrease (increase) in lapses Other Financial Instruments The following disclosures are made in accordance with the requirements of ASC Topic 825 which requires disclosure of fair value information about financial instruments, whether or not recognized at fair value on the Consolidated Balance Sheets. ASC Topic 825 excludes certain financial instruments, including insurance contracts and all nonfinancial instruments from its disclosure requirements. Accordingly, the aggregate fair value amounts presented do not represent the underlying value of the Company. The carrying values and estimated fair values of the Company's financial instruments from continuing operations, including amounts related to businesses to be exited via reinsurance associated with the Individual Life Transaction, as of the dates indicated: March 31, 2020 December 31, 2019 Carrying Value Fair Value Carrying Fair Assets: Fixed maturities, including securities pledged $ 41,994 $ 41,994 $ 43,778 $ 43,778 Equity securities 176 176 196 196 Mortgage loans on real estate 6,969 7,087 6,878 7,262 Policy loans 763 763 776 776 Cash, cash equivalents, short-term investments and short-term investments under securities loan agreements 3,296 3,296 2,644 2,644 Derivatives 875 875 316 316 Other investments 324 405 320 456 Assets held in separate accounts 68,937 68,937 81,670 81,670 Liabilities: Investment contract liabilities: Funding agreements without fixed maturities and deferred annuities (2) $ 34,989 $ 42,861 $ 33,916 $ 41,035 Funding agreements with fixed maturities 856 829 877 877 Supplementary contracts, immediate annuities and other 799 839 821 872 Derivatives: Guaranteed benefit derivatives (2) 253 253 60 60 Other derivatives 1,068 1,068 403 403 Short-term debt 1 1 1 1 Long-term debt 3,042 3,120 3,042 3,418 Embedded derivative on reinsurance 52 52 100 100 (1) Certain amounts included in Funding agreements without fixed maturities and deferred annuities are also reflected within the Guaranteed benefit derivatives section of the table above. (2) Includes GMWBL, GMWB, FIA, Stabilizer and MCG. The carrying values and estimated fair values of the Company's financial instruments related to businesses held for sale as of the dates indicated: March 31, 2020 December 31, 2019 Carrying Value Fair Value Carrying Value Fair Value Assets: Fixed maturities, including securities pledged $ 12,052 $ 12,052 $ 12,470 $ 12,470 Equity securities 32 32 35 35 Mortgage loans on real estate 1,310 1,340 1,319 1,405 Policy loans 1,006 1,006 1,0

Deferred Policy Acquisition Cos

Deferred Policy Acquisition Costs and Value of Business Acquired	3 Months Ended
	Mar. 31, 2020
Deferred Policy Acquisition Costs and Present Value of Future Insurance Profits, Net [Abstract]
Deferred Policy Acquisition Costs and Value of Business Acquired	Deferred Policy Acquisition Costs and Value of Business Acquired The following tables present a rollforward of DAC and VOBA for the periods indicated: 2020 DAC VOBA Total Balance as of January 1, 2020 $ 1,762 $ 464 $ 2,226 Impact of ASU 2016-13 3 — 3 Deferrals of commissions and expenses 26 — 26 Amortization: Amortization, excluding unlocking (74 ) (22 ) (96 ) Unlocking (1) (12 ) (13 ) (25 ) Interest accrued 31 14 (2) 45 Net amortization included in Condensed Consolidated Statements of Operations (55 ) (21 ) (76 ) Change due to unrealized capital gains/losses on available-for-sale securities 226 198 424 Balance as of March 31, 2020 $ 1,962 $ 641 $ 2,603 2019 DAC VOBA Total Balance as of January 1, 2019 $ 2,155 $ 818 $ 2,973 Deferrals of commissions and expenses 23 2 25 Amortization: Amortization, excluding unlocking (88 ) (36 ) (124 ) Unlocking (1) 7 15 22 Interest accrued 31 14 (2) 45 Net amortization included in Condensed Consolidated Statements of Operations (50 ) (7 ) (57 ) Change due to unrealized capital gains/losses on available-for-sale securities (185 ) (146 ) (331 ) Balance as of March 31, 2019 $ 1,943 $ 667 $ 2,610 (1) Includes the impacts of annual review of assumptions which typically occurs in the third quarter; and retrospective and prospective unlocking. (2) Interest accrued at the following rates for VOBA: 3.5% to 7.4% during 2020 and 2019 .

Share-based Incentive Compensat

Share-based Incentive Compensation Plans	3 Months Ended
	Mar. 31, 2020
Share-based Payment Arrangement [Abstract]
Share-based Incentive Compensation Plans	Share-based Incentive Compensation Plans The Company has provided equity-based compensation awards to its employees under the ING U.S., Inc. 2013 Omnibus Employee Incentive Plan (the "2013 Omnibus Plan"), the Voya Financial, Inc. 2014 Omnibus Employee Incentive Plan (the "2014 Omnibus Plan") and the Voya Financial, Inc. 2019 Omnibus Employee Incentive Plan (the "2019 Omnibus Plan") (together, the "Omnibus Plans"). As of March 31, 2020 , common stock reserved and available for issuance under the 2013 Omnibus Plan, the 2014 Omnibus Plan and the 2019 Omnibus Plan was 347,663 , 3,305,446 and 10,559,453 shares, respectively. The Company offers equity-based awards to Voya Financial, Inc. non-employee directors under the Voya Financial, Inc. 2013 Omnibus Non-Employee Director Incentive Plan ("Director Plan"). Compensation Cost The following table summarizes share-based compensation expense, which includes expenses related to awards granted under the Omnibus Plans and Director Plan for the periods indicated: Three Months Ended March 31, 2020 2019 Restricted Stock Unit (RSU) awards $ 18 $ 17 Performance Stock Unit (PSU) awards 18 17 Stock options 2 2 Total share-based compensation expense 38 36 Income tax benefit 19 1 After-tax share-based compensation expense $ 19 $ 35 Awards Outstanding The following table summarizes RSU and PSU awards activity under the Omnibus Plans and the Director Plan for the period indicated: RSU Awards PSU Awards (awards in millions) Number of Awards Weighted Average Grant Date Fair Value Number of Awards Weighted Average Grant Date Fair Value Outstanding as of January 1, 2020 1.9 $ 48.55 2.2 $ 48.85 Adjustment for PSU performance factor N/A N/A 0.4 42.27 Granted 0.7 63.62 0.7 61.86 Vested (0.9 ) 47.47 (1.2 ) 42.34 Forfeited — * 50.20 — * 52.47 Outstanding as of March 31, 2020 1.7 $ 55.60 2.1 $ 55.46 * Less than 0.1 The following table summarizes the number of options under the Omnibus Plans for the periods indicated: Stock Options (awards in millions) Number of Awards Weighted Average Exercise Price Outstanding as of January 1, 2020 2.9 $ 41.93 Granted — — Exercised — * 37.60 Forfeited — * 50.03 Outstanding as of March 31, 2020 2.9 $ 41.87 Vested, exercisable, as of March 31, 2020 2.3 $ 40.26 * Less than 0.1 In February 2019, the Company awarded contingent stock options under the 2014 Omnibus Plan with a per option grant date fair value of $13.78 . These options are subject to vesting conditions based on the achievement of specified performance measures, and generally become exercisable one year following satisfaction of the relevant vesting condition. The options have a term of ten years

Shareholders' Equity

Shareholders' Equity	3 Months Ended
	Mar. 31, 2020
Equity [Abstract]
Shareholder's Equity	Shareholders' Equity Common Shares The following table presents the rollforward of common shares used in calculating the weighted average shares utilized in the basic earnings per common share calculation for the periods indicated: Common Shares (shares in millions) Issued Held in Treasury Outstanding Balance, January 1, 2019 272.4 121.4 151.0 Common shares issued 0.1 — 0.1 Common shares acquired - share repurchase — 21.1 (21.1 ) Share-based compensation 3.2 0.9 2.3 Treasury Stock retirement (135.0 ) (135.0 ) — Balance, December 31, 2019 140.7 8.4 132.3 Common shares issued — — — Common shares acquired - share repurchase — 8.1 (8.1 ) Share-based compensation 2.1 0.3 1.8 Balance, March 31, 2020 142.8 16.8 126.0 Dividends declared per share of Common Stock were as follows for the periods indicated: Three Months Ended March 31, 2020 2019 Dividends declared per share of Common Stock $ 0.15 $ 0.01 Share Repurchase Program From time to time, the Company's Board of Directors authorizes the Company to repurchase shares of its common stock. These authorizations permit stock repurchases up to a prescribed dollar amount and generally may be accomplished through various means, including, without limitation, open market transactions, privately negotiated transactions, forward, derivative, or accelerated repurchase, or automatic repurchase transactions, including 10b5-1 plans, or tender offers. Share repurchase authorizations typically expire if unused by a prescribed date. On October 31, 2019, the Board of Directors provided share repurchase authorization, increasing the aggregate of the Company's common stock authorized for repurchase by $800 . The current share repurchase authorization expires on December 31, 2020 (unless extended), and does not obligate the Company to purchase any shares. The authorization for the share repurchase program may be terminated, increased or decreased by the Board of Directors at any time. The following table presents repurchases of the Company's common stock through share repurchase agreements with third-party financial institutions during the three months ended March 31, 2020 : Execution Date Payment Initial Shares Delivered Closing Date Additional Shares Delivered Total Shares Repurchased December 19, 2019 $ 200 2,591,093 February 26, 2020 727,368 3,318,461 During the three months ended March 31, 2020 , the Company repurchased 7,390,099 shares of the Company's common stock in open market repurchases for an aggregate purchase price of $366 . Warrants On May 7, 2013, the Company issued to ING Group warrants to purchase up to 26,050,846 shares of the Company's common stock equal in the aggregate to 9.99% of the issued and outstanding shares of common stock at that date. The exercise price of the warrants at the time of issuance was $48.75 per share of common stock, subject to adjustments, including for stock dividends, cash dividends in excess of $0.01 per share a quarter, subdivisions, combinations, reclassifications and non-cash distributions. The warrants also provide for, upon the occurrence of certain change of control events affecting the Company, an increase in the number of shares to which a warrant holder will be entitled upon payment of the aggregate exercise price of the warrant. The warrants became exercisable to ING Group and its affiliates on January 1, 2017 and to all other holders starting on the first anniversary of the completion of the IPO (May 7, 2014). The warrants expire on the tenth anniversary of the completion of the IPO (May 7, 2023). The warrants are net share settled, which means that no cash will be payable by a warrant holder in respect of the exercise price of a warrant upon exercise, and are classified as permanent equity. They have been recorded at their fair value determined on the issuance date of May 7, 2013 in the amount of $94 as an addition and reduction to Additional-paid-in-capital. Warrant holders are not entitled to receive dividends. On March 12, 2018, ING Group sold its remaining interests in the warrants and no longer owns any warrants. On March 27, 2020, the Company paid a quarterly dividend of $0.15 per share on its common stock. As a consequence, the exercise price of the warrants to purchase shares of common stock was adjusted to $48.38 per share of common stock and the number of shares of common stock for which each warrant is exercisable has been adjusted to 1.002288479 . As of March 31, 2020 , no warrants have been exercised. Preferred Stock On June 11, 2019, the Company issued 300,000 shares of 5.35% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series B ("the Series B preferred stock"), with a $0.01 par value per share and a liquidation preference of $1,000 per share, for aggregate net proceeds of $293 . The Company deposited the Series B preferred stock under a deposit agreement with a depositary, which issued interests in fractional shares of the Series B preferred stock in the form of depositary shares ("Depositary Shares") evidenced by depositary receipts; each Depositary Share representing 1/40th interest in a share of the Series B preferred stock. On September 12, 2018, the Company issued 325,000 shares of 6.125% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series A ("the Series A preferred stock"), with a $0.01 par value per share and a liquidation preference of $1,000 per share, for aggregate net proceeds of $319 . The ability of the Company to declare or pay dividends on, or purchase, redeem or otherwise acquire, shares of its common stock will be substantially restricted in the event that the Company does not declare and pay (or set aside) dividends on the Series A and B preferred stock for the last preceding dividend period. The Series A and Series B preferred stock are not subject to any mandatory redemption, sinking fund, retirement fund, purchase fund or similar provisions. The Company may, at its option, redeem the Series A preferred stock, (a) in whole but not in part, at any time, within 90 days after the occurrence of a "rating agency event," at a redemption price equal to $1,020 per share, plus an amount equal to any dividends per share of preferred stock that have accrued but not been declared and paid for the then-current dividend period to, but excluding, the redemption date and (b) (i) in whole but not in part, at any time within 90 days after the occurrence of a "regulatory capital event" or (ii) in whole or in part, from time to time, on September 15, 2023 or any subsequent "reset date," in each case, at a redemption price equal to $1,000 per share of preferred stock, plus an amount equal to any dividends per share of preferred stock that have accrued but not been declared and paid for the then-current dividend period to, but excluding, such redemption date. The Company may, at its option, redeem the Series B preferred stock, (a) in whole but not in part, at any time, within 90 days after the occurrence of a "rating agency event," at a redemption price equal to $1,020 per share (equivalent to $25.50 per Depositary Share), plus an amount equal to any accrued and unpaid dividends per share that have accrued but not been declared and paid for the then-current dividend period, but excluding, such redemption date and (b) (i) in whole but not in part , at any time, within 90 days after the occurrence of a "regulatory capital event," or (ii) in whole or in part, from time to time, on September 15, 2029 or any reset date, in each case, at a redemption price equal to $1,000 per share of the Series B preferred stock (equivalent to $25.00 per Depositary Share), plus an amount equal to any accrued and unpaid dividends per share that have accrued but not been declared and paid for the then-current dividend period to, but excluding, such redemption date. A "rating agency event" means that any nationally recognized statistical rating organization that then publishes a rating for the Company amends, clarifies or changes the criteria it uses to assign equity credit to securities like the preferred stock, which results in the lowering of the equity credit assigned to the preferred stock, as applicable, or shortens the length of time that the preferred stock is assigned a particular level of equity credit. A "regulatory capital event" means that the Company becomes subject to capital adequacy supervision by a capital regulator and the capital adequacy guidelines that apply to the Company as a result of being so subject set forth criteria pursuant to which the preferred stock would not qualify as capital under such capital adequacy guidelines, as the Company may determine at any time, in its sole discretion. As of March 31, 2020 and December 31, 2019, there were 100,000,000 shares of preferred stock authorized. Preferred stock issued and outstanding are as follows: March 31, 2020 December 31, 2019 Series Issued Outstanding Issued Outstanding 6.125% Non-cumulative Preferred Stock, Series A 325,000 325,000 325,000 325,000 5.35% Non-cumulative Preferred Stock, Series B 300,000 300,000 300,000 300,000 Total 625,000 625,000 625,000 625,000 As of March 31, 2020 , there were no preferred stock dividends in arrears.

Earnings per Common Share

Earnings per Common Share	3 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
Earnings per Common Share	Earnings per Common Share The following table presents a reconciliation of Net income (loss) and shares used in calculating basic and diluted net income (loss) per common share for the periods indicated: Three Months Ended March 31, (in millions, except for per share data) 2020 2019 Earnings Net income (loss) available to common shareholders: Income (loss) from continuing operations $ 50 $ 93 Less: Preferred stock dividends 14 10 Less: Net income (loss) attributable to noncontrolling interest 6 (1 ) Income (loss) from continuing operations available to common shareholders 30 84 Income (loss) from discontinued operations, net of tax (128 ) (20 ) Net income (loss) available to common shareholders $ (98 ) $ 64 Weighted average common shares outstanding Basic 130.9 146.9 Dilutive Effects: Warrants (1) 2.9 — RSU awards 1.2 1.5 PSU awards 1.8 2.4 Stock Options 0.6 0.5 Diluted 137.4 151.3 Basic (2) Income (loss) from continuing operations available to Voya Financial, Inc.'s common shareholders $ 0.23 $ 0.57 Income (loss) from discontinued operations, net of taxes available to Voya Financial, Inc.'s common shareholders $ (0.98 ) $ (0.14 ) Income (loss) available to Voya Financial, Inc.'s common shareholders $ (0.75 ) $ 0.44 Diluted (2) Income (loss) from continuing operations available to Voya Financial, Inc.'s common shareholders $ 0.22 $ 0.56 Income (loss) from discontinued operations, net of taxes available to Voya Financial, Inc.'s common shareholders $ (0.93 ) $ (0.13 ) Income (loss) available to Voya Financial, Inc.'s common shareholders $ (0.71 ) $ 0.42 (1) For the three months ended March 31, 2019 , weighted average shares used for calculating basic and diluted earnings per share excludes the dilutive impact of warrants as the inclusion of this equity instrument would be antidilutive to the earnings per share calculation due to "out of the moneyness" in the periods presented. For more information on warrants, see the Shareholders' Equity Note to these Condensed Consolidated Financial Statements. (2) Basic and diluted earnings per share are calculated using unrounded, actual amounts. Therefore, the components of earnings per share may not sum to its corresponding total.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	3 Months Ended
	Mar. 31, 2020
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) Shareholders' equity included the following components of Accumulated Other Comprehensive Income ("AOCI") as of the dates indicated: March 31, 2020 2019 Fixed maturities, net of impairment $ 2,819 $ 2,958 Derivatives (1) 235 154 DAC/VOBA adjustment on available-for-sale securities (906 ) (879 ) Premium deficiency reserve (146 ) (93 ) Sales inducements and other intangibles adjustment on available-for-sale securities (127 ) (112 ) Unrealized capital gains (losses), before tax 1,875 2,028 Deferred income tax asset (liability) (40 ) (72 ) Net unrealized capital gains (losses) 1,835 1,956 Pension and other postretirement benefits liability, net of tax 6 10 AOCI $ 1,841 $ 1,966 (1) Gains and losses reported in Accumulated Other Comprehensive Income (AOCI) from hedge transactions that resulted in the acquisition of an identified asset are reclassified into earnings in the same period or periods during which the asset acquired affects earnings. As of March 31, 2020 , the portion of the AOCI that is expected to be reclassified into earnings within the next 12 months is $24 . Changes in AOCI, including the reclassification adjustments recognized in the Condensed Consolidated Statements of Operations were as follows for the periods indicated: Three Months Ended March 31, 2020 Before-Tax Amount Income Tax After-Tax Amount Available-for-sale securities: Fixed maturities $ (2,756 ) $ 578 $ (2,178 ) Impairments — — — Adjustments for amounts recognized in Net realized capital gains (losses) in the Condensed Consolidated Statements of Operations 29 (6 ) 23 DAC/VOBA 592 (1) (124 ) 468 Premium deficiency reserve 103 (22 ) 81 Sales inducements and other intangibles 58 (12 ) 46 Change in unrealized gains/losses on available-for-sale securities (1,974 ) 414 (1,560 ) Derivatives: Derivatives 96 (2) (20 ) 76 Adjustments related to effective cash flow hedges for amounts recognized in Net investment income in the Condensed Consolidated Statements of Operations (6 ) 1 (5 ) Change in unrealized gains/losses on derivatives 90 (19 ) 71 Pension and other postretirement benefits liability: Amortization of prior service cost recognized in Operating expenses in the Condensed Consolidated Statements of Operations (1 ) — (1 ) Change in pension and other postretirement benefits liability (1 ) — (1 ) Change in Accumulated other comprehensive income (loss) $ (1,885 ) $ 395 $ (1,490 ) (1) See the Deferred Policy Acquisition Costs and Value of Business Acquired Note to these Condensed Consolidated Financial Statements for additional information. (2) See the Derivative Financial Instruments Note to these Condensed Consolidated Financial Statements for additional information. Three Months Ended March 31, 2019 Before-Tax Amount Income Tax After-Tax Amount Available-for-sale securities: Fixed maturities $ 1,865 $ (390 ) $ 1,475 Impairment 1 — 1 Adjustments for amounts recognized in Net realized capital gains (losses) in the Condensed Consolidated Statements of Operations 17 (4 ) 13 DAC/VOBA (498 ) (1) 105 (393 ) Premium deficiency reserve (36 ) 8 (28 ) Sales inducements and other intangibles (48 ) 10 (38 ) Change in unrealized gains/losses on available-for-sale securities 1,301 (271 ) 1,030 Derivatives: Derivatives (10 ) (2) 2 (8 ) Adjustments related to effective cash flow hedges for amounts recognized in Net investment income in the Condensed Consolidated Statements of Operations (6 ) 1 (5 ) Change in unrealized gains/losses on derivatives (16 ) 3 (13 ) Pension and other postretirement benefits liability: Amortization of prior service cost recognized in Operating expenses in the Condensed Consolidated Statements of Operations (1 ) — (1 ) Change in pension and other postretirement benefits liability (1 ) — (1 ) Change in Accumulated other comprehensive income (loss) $ 1,284 $ (268 ) $ 1,016 (1) See the Deferred Policy Acquisition Costs and Value of Business Acquired Note to these Condensed Consolidated Financial Statements for additional information. (2) See the Derivative Financial Instruments Note to these Condensed Consolidated Financial Statements for additional information.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company uses the estimated annual effective tax rate method in computing its interim tax provision. Certain items, including changes in the realizability of deferred tax assets and changes in liabilities for uncertain tax positions, are excluded from the estimated annual effective tax rate and the actual tax expense or benefit is reported in the period the related item is incurred. The Company's effective tax rate for the three months ended March 31, 2020 was (13.6)% . The effective tax rate differed from the statutory rate of 21% primarily due to the effects of the dividends received deduction ("DRD"), nondeductible expenses and tax credits. The Company's effective tax rate for the three months ended March 31, 2019 was 8.8% . The effective tax rate differed from the statutory rate of 21% primarily due to the effect of the DRD. The Coronavirus Aid, Relief and Economic Security (“CARES”) Act, which became effective on March 27, 2020, has not had, nor is it expected to have, any material impact on corporate income taxes. Tax Regulatory Matters For the tax years 2018 through 2020, Voya Financial, Inc. participates in the IRS Compliance Assurance Process ("CAP"), which is a continuous audit program provided by the IRS. The IRS finalized the audit of Voya Financial, Inc. for the period ended December 31, 2018. For the periods ended December 31, 2019 and December 31, 2020, the IRS has determined that Voya Financial, Inc. would be in the Compliance Maintenance Bridge ("Bridge") phase of CAP. In the Bridge phase, the IRS does not intend to conduct any review or provide any letters of assurance for the tax year.

Financing Agreements

Financing Agreements	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Financing Agreements	Financing Agreements Short-term and Long-term Debt The following table summarizes the carrying value of the Company’s debt securities issued and outstanding as of March 31, 2020 and December 31, 2019 : Maturity March 31, 2020 December 31, 2019 3.125% Senior Notes, due 2024 07/15/2024 397 397 3.65% Senior Notes, due 2026 06/15/2026 496 496 5.7% Senior Notes, due 2043 07/15/2043 395 395 4.8% Senior Notes, due 2046 06/15/2046 297 297 4.7% Fixed-to-Floating Rate Junior Subordinated Notes, due 2048 01/23/2048 345 345 5.65% Fixed-to-Floating Rate Junior Subordinated Notes, due 2053 05/15/2053 739 739 7.25% Voya Holdings Inc. debentures, due 2023 (1) 08/15/2023 139 139 7.63% Voya Holdings Inc. debentures, due 2026 (1) 08/15/2026 138 138 6.97% Voya Holdings Inc. debentures, due 2036 (1) 08/15/2036 79 79 8.42% Equitable of Iowa Companies Capital Trust II Notes, due 2027 04/01/2027 14 14 1.00% Windsor Property Loan 06/14/2027 4 4 Subtotal 3,043 3,043 Less: Current portion of long-term debt 1 1 Total $ 3,042 $ 3,042 (1) Guaranteed by ING Group. Aetna Notes As of March 31, 2020 , the outstanding principal amount of the Aetna Notes was $358 , which is guaranteed by ING Group. As of March 31, 2020 , the Company provided $372 of collateral benefiting ING Group, comprised of a deposit of $209 to a control account with a third-party collateral agent and $163 of letter of credit. The collateral may be exchanged at any time upon the posting of any other form of acceptable collateral to the account. Senior Unsecured Credit Facility Agreement As of March 31, 2020 , the Company had a $500 senior unsecured credit facility with a syndicate of banks which expires November 1, 2024. The facility provides $500 of committed capacity for issuing letters of credit and the full $500 may be utilized for direct borrowings. As of March 31, 2020 , there were no amounts outstanding as revolving credit borrowings and no amounts of LOCs outstanding under the senior unsecured credit facility. Under the terms of the facility, the Company is required to maintain a minimum net worth of $6.15 billion , which may increase upon any future equity issuances by the Company.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Commitments Through the normal course of investment operations, the Company commits to either purchase or sell securities, mortgage loans, or money market instruments, at a specified future date and at a specified price or yield. The inability of counterparties to honor these commitments may result in either a higher or lower replacement cost. Also, there is likely to be a change in the value of the securities underlying the commitments. As of March 31, 2020 , the Company had off-balance sheet commitments to acquire mortgage loans of $92 and purchase limited partnerships and private placement investments of $872 , of which $257 related to consolidated investment entities. Restricted Assets The Company is required to maintain assets on deposit with various regulatory authorities to support its insurance operations. The Company may also post collateral in connection with certain securities lending, repurchase agreements, funding agreements, credit facilities and derivative transactions. The components of the fair value of the restricted assets were as follows as of the dates indicated: March 31, 2020 December 31, 2019 Fixed maturity collateral pledged to FHLB (1) $ 1,242 $ 1,211 FHLB restricted stock (2) 53 55 Other fixed maturities-state deposits 44 48 Cash and cash equivalents 12 12 Securities pledged (3) 1,555 1,408 Total restricted assets $ 2,906 $ 2,734 (1) Included in Fixed maturities, available for sale, at fair value on the Condensed Consolidated Balance Sheets. (2) Included in Other investments on the Condensed Consolidated Balance Sheets. (3) Includes the fair value of loaned securities of $1,273 and $1,159 as of March 31, 2020 and December 31, 2019 , respectively. In addition, as of March 31, 2020 and December 31, 2019 , the Company delivered securities as collateral of $210 and $183 and repurchase agreements of $72 and $66 , respectively. Loaned securities and securities delivered as collateral are included in Securities pledged on the Condensed Consolidated Balance Sheets. Federal Home Loan Bank Funding Agreements The Company is a member of the FHLB of Des Moines and the FHLB of Boston and is required to pledge collateral to back funding agreements issued to the FHLB. As of March 31, 2020 and December 31, 2019 , the Company had $856 and $877 , respectively, in non-putable funding agreements, which are included in Contract owner account balances on the Condensed Consolidated Balance Sheets. As of March 31, 2020 and December 31, 2019 , assets with a market value of approximately $1,242 and $1,211 , respectively, collateralized the FHLB funding agreements. Assets pledged to the FHLB are included in Fixed maturities, available-for-sale, at fair value on the Condensed Consolidated Balance Sheets. Additionally, SLD is currently a member of FHLB of Topeka. The related non-puttable funding agreements and the assets pledged are reflected in Liabilities and Assets held for sale on Condensed Consolidated Balance Sheets. Litigation, Regulatory Matters and Contingencies Litigation, regulatory and other loss contingencies arise in connection with 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, both in the ordinary course and otherwise. In some of these matters, claimants seek to recover very large or indeterminate amounts, including compensatory, punitive, treble and exemplary damages. Modern pleading practice in the U.S. 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 negligence, breach of contract, fraud, violation of regulation or statute, breach of fiduciary duty, negligent misrepresentation, failure to supervise, elder abuse and other torts. 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. Such matters include an SEC inquiry into mutual fund share classes offered by Voya’s investment advisor subsidiary, involving issues similar to those under the SEC’s Share Class Selection Disclosure Initiative. 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, however, 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 March 31, 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 $75 . 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. Litigation includes Goetz v. Voya Financial and Voya Retirement Insurance and Annuity Company (USDC District of Delaware, No. 1:17-cv-1289) (filed September 8, 2017), a putative class action in which plaintiff, a participant in a 401(k) plan, seeks to represent other participants in the plan as well as a class of similarly situated plans that "contract with [Voya] for recordkeeping and other services." Plaintiff alleges that "Voya" breached its fiduciary duty to the plan and other plan participants by charging unreasonable and excessive recordkeeping fees, and that "Voya" distributed materially false and misleading 404a-5 administrative and fund fee disclosures to conceal its excessive fees. The Company denies the allegations, which it believes are without merit, and intends to defend the case vigorously. Litigation also includes Henkel of America v. ReliaStar Life Insurance Company (USDC District of Connecticut, No. 1:18-cv-00965) (filed June 8, 2018). Plaintiff alleges that ReliaStar breached the terms of a stop loss policy it issued to Plaintiff by refusing to reimburse Plaintiff for more than $47 in claims incurred by participants in prior years and submitted for coverage under the stop loss policy. Plaintiff alleges a breach of contract claim or, in the alternative, that the stop loss policy be declared to cover the submitted claims, and also asserts that ReliaStar engaged in unfair trade practices and unfair insurance practices in violation of state statutes, and did so willfully and intentionally to warrant an award of punitive damages under state law. The Company denies the allegations, which it believes are without merit, and intends to defend the case vigorously. Lastly, litigation includes Zhou v. Voya Financial, Inc. and Security Life of Denver (USDC District of Colorado, No. 1:19-cv-02781)(filed September 27, 2019), a putative class action in which the plaintiff alleges that the Company did not properly administer certain universal life insurance policies. The plaintiff claims that the Company did not timely credit interest earned on the payment of her premiums and incorrectly calculated the amount of interest that the Company credited to her account. In addition to the class allegations, the lawsuit alleges breach of contract and conversion and seeks declaratory and injunctive relief. The Company denies the allegations, which it believes are without merit, and intends to defend the case vigorously. Finally, industry wide, life insurers continue to be exposed to class action litigation related to the cost of insurance rates and periodic deductions from cash value. Common allegations include that insurance companies have breached the terms of their universal life insurance policies by establishing or increasing the cost of insurance rates using cost factors not permitted by the contract, thereby unjustly enriching themselves. This litigation is generally known as cost of insurance litigation. Cost of insurance litigation for the Company includes Barnes v. Security Life of Denver (USDC District of Colorado, No. 1:18-cv-00718) (filed March 27, 2018), a putative class action in which the plaintiff alleges that his insurance policy only permitted the Company to rely upon his expected future mortality experience to establish and increase his cost of insurance, but the Company instead relied upon other, non-disclosed factors to do so. Plaintiff alleges breach of contract and conversion claims against the Company and also seeks declaratory relief. The Company denies the allegations in the complaint, believes the complaint to be without merit, and intends to defend the matter vigorously. Cost of insurance litigation for the Company also includes Advance Trust & Life Escrow Services, LTA v. Security Life of Denver (USDC District of Colorado, No. 1:18-cv-01897) (filed July 26, 2018), a putative class action in which Plaintiff alleges that two specific types of universal life insurance policies only permitted the Company to rely upon the policyholder’s expected future mortality experience to establish and increase the cost of insurance, but the Company instead relied upon other, non-disclosed factors not only in the administration of the policies over time, but also in the decision to increase insurance costs beginning in approximately October 2015. Plaintiff alleges a breach of contract and seeks class certification. The Company denies the allegations in the complaint, believes the complaint to be without merit, and intends to defend the lawsuit vigorously. Finally, cost of insurance litigation includes Advance Trust & Life Escrow Services, LTA v. ReliaStar Life Insurance Company (USDC District of Minnesota, No. 1:18-cv-02863) (filed October 5, 2018), a putative class action in which Plaintiff alleges that the Company’s universal life insurance policies only permitted the Company to rely upon the policyholders’ expected future mortality experience to establish the cost of insurance, and that as projected mortality experience improved, the policy language required the Company to decrease the cost of insurance. Plaintiff alleges that the Company did not decrease the cost of insurance as required, thereby breaching its contract with the policyholders, and seeks class certification. The Company denies the allegations in the complaint, believes the complaint to be without merit, and will defend the lawsuit vigorously. Contingencies related to Performance-based Capital Allocations on Private Equity Funds Certain performance-based capital allocations related to sponsored private equity funds ("carried interest") are not final until the conclusion of an investment term specified in the relevant asset management contract. As a result, such carried interest, if accrued or paid to the Company during such term, is subject to later adjustment based on subsequent fund performance. If the fund’s cumulative investment return falls below specified investment return hurdles, some or all of the previously accrued carried interest is reversed to the extent that the Company is no longer entitled to the performance-based capital allocation. Should the fund’s cumulative investment return subsequently increase above specified investment return hurdles in future periods, previous reversals could be fully or partially recovered. As of March 31, 2020 , approximately $79

Consolidated Investment Entitie

Consolidated Investment Entities	3 Months Ended
	Mar. 31, 2020
Consolidated Investment Entities [Abstract]
Consolidated Investment Entities	Consolidated Investment Entities In the normal course of business, the Company provides investment management services to, invests in and has transactions with, various types of investment entities which may be considered VIEs or VOEs. The Company evaluates its involvement with each entity to determine whether consolidation is required. The Company holds variable interests in certain investment entities in the form of debt or equity investments, as well as the right to receive management fees, performance fees, and carried interest. The Company consolidates certain entities under the VIE guidance when it is determined that the Company is the primary beneficiary. Alternatively, certain entities are consolidated under the VOE guidance when control is obtained through voting rights. The Company has no right to the benefits from, nor does it bear the risks associated with consolidated investment entities beyond the Company’s direct equity and debt investments in and management fees generated from these entities. Such direct investments amounted to approximately $292 and $279 on a continuing basis as of March 31, 2020 and December 31, 2019 , respectively. If the Company were to liquidate, the assets held by consolidated investment entities would not be available to the general creditors of the Company as a result of the liquidation. Consolidated VIEs and VOEs Collateral Loan Obligations Entities ("CLOs") The Company is involved in the design, creation, and the ongoing management of CLOs. These entities are created for the purpose of acquiring diversified portfolios of senior secured floating rate leveraged loans, and securitizing these assets by issuing multiple tranches of collateralized debt; thereby providing investors with a broad array of risk and return profiles. Also known as collateralized financing entities under Topic 810, CLOs are variable interest entities by definition. In return for providing collateral management services, the Company earns investment management fees and contingent performance fees. In addition to earning fee income, the Company often holds an investment in certain of the CLOs it manages, generally within the unrated and most subordinated tranche of each CLO. The fee income earned and investments held are included in the Company's ongoing consolidation assessment for each CLO. The Company was the primary beneficiary of 3 CLOs as of March 31, 2020 and December 31, 2019 , respectively. Limited Partnerships The Company invests in and manages various limited partnerships, including private equity funds and hedge funds. These entities have been evaluated by the Company and are determined to be VIEs due to the equity holders, as a group, lacking the characteristics of a controlling financial interest. In return for serving as the general partner of and providing investment management services to these entities, the Company earns management fees and carried interest in the normal course of business. Additionally, the Company often holds an investment in each limited partnership it manages, generally in the form of general partner and limited partner interests. The fee income, carried interest, and investments held are included in the Company’s ongoing consolidation analysis for each limited partnership. The Company consolidated 12 funds, which were structured as partnerships, as of March 31, 2020 and December 31, 2019 . Registered Investment Companies The Company consolidated one sponsored investment fund accounted for as a VOE as of March 31, 2020 and December 31, 2019 , because it is the majority investor in the fund, and as such, has a controlling financial interest in the fund. The following table summarizes the components of the consolidated investment entities as of the dates indicated: March 31, 2020 December 31, 2019 Assets of Consolidated Investment Entities VIEs Cash and cash equivalents $ 52 $ 68 Corporate loans, at fair value using the fair value option 432 513 Limited partnerships/corporations, at fair value 1,470 1,470 Other assets 16 12 Total VIE assets 1,970 2,063 VOEs Limited partnerships/corporations, at fair value 185 162 Other assets — 1 Total VOE assets 185 163 Total assets of consolidated investment entities $ 2,155 $ 2,226 Liabilities of Consolidated Investment Entities VIEs CLO notes, at fair value using the fair value option $ 368 $ 474 Other liabilities 668 650 Total VIE liabilities 1,036 1,124 VOEs Other liabilities 4 2 Total VOE liabilities 4 2 Total liabilities of consolidated investment entities $ 1,040 $ 1,126 Fair Value Measurement Upon consolidation, the Company elected to apply the FVO for financial assets and financial liabilities held by CLOs and continued to measure these assets (primarily corporate loans) and liabilities (debt obligations issued by CLOs) at fair value in subsequent periods. The Company has elected the FVO to more closely align its accounting with the economics of its transactions and allows the Company to more effectively align changes in the fair value of CLO assets with a commensurate change in the fair value of CLO liabilities. Investments held by consolidated private equity funds are measured and reported at fair value in the Company's Condensed Consolidated Financial Statements. Changes in the fair value of consolidated investment entities are recorded as a separate line item within Income (loss) related to consolidated investment entities in the Company's Condensed Consolidated Statements of Operations. The methodology for measuring the fair value of financial assets and liabilities of consolidated investment entities, and the classification of these measurements in the fair value hierarchy is consistent with the methodology and classification applied by the Company to its investment portfolio. As discussed in more detail below, the Company utilizes valuations obtained from third-party commercial pricing services, brokers and investment sponsors or third-party administrators that supply NAV (or its equivalent) per share used as a practical expedient. The valuations obtained from brokers and third-party commercial pricing services are non-binding. These valuations are reviewed on a monthly or quarterly basis depending on the entity and its underlying investments. Procedures include, but are not limited to, a review of underlying fund investor reports, review of top and worst performing funds requiring further scrutiny, review of variance from prior periods and review of variance from benchmarks, where applicable. In addition, the Company considers both macro and fund specific events that may impact the latest NAV supplied and determines if further adjustments of value should be made. Such changes, if any, are subject to senior management review. When a price cannot be obtained from a commercial pricing service, independent broker quotes are solicited. Securities priced using independent broker quotes are classified as Level 3. Broker quotes and prices obtained from pricing services are reviewed and validated through an internal valuation committee price variance review, comparisons to internal pricing models, back testing to recent trades or monitoring of trading volumes. Cash and Cash Equivalents The carrying amounts for cash reflect the assets’ fair values. The fair value for cash equivalents is determined based on quoted market prices. These assets are classified as Level 1. CLOs Corporate loans : Corporate loan investments, which comprise the majority of consolidated CLO portfolio collateral, are senior secured corporate loans maturing at various dates between 2020 and 2028, paying interest at LIBOR , EURIBOR or PRIME plus a spread of up to 10.0% . As of March 31, 2020 and December 31, 2019 , the unpaid principal balance exceeded the fair value of the corporate loans by approximately $17 and $18 , respectively. Less than 1.0% of the collateral assets were in default as of March 31, 2020 and December 31, 2019 . The fair values for corporate loans are determined using independent commercial pricing services. Fair value measurement based on pricing services may be classified in Level 2 or Level 3 depending on the type, complexity, observability and liquidity of the asset being measured. The inputs used by independent commercial pricing services, such as benchmark yields and credit risk adjustments, are those that are derived principally from or corroborated by observable market data. Hence, the fair value measurement of corporate loans priced by independent pricing service providers is classified within Level 2 of the fair value hierarchy. In addition, there are assets held with CLO portfolios that represent senior level debt of other third party CLOs. These CLO investments are classified within Level 3 of the fair value hierarchy. See description of fair value process for CLO notes below. CLO notes : The CLO notes are backed by a diversified loan portfolio consisting primarily of senior secured floating rate leveraged loans. Repayment risk is segmented into tranches with credit ratings of these tranches reflecting both the credit quality of underlying collateral as well as how much protection a given tranche is afforded by tranches that are subordinate to it. The most subordinated tranche bears the first loss and receives the residual payments, if any. The interest rates are generally variable rates based on LIBOR plus a pre-defined spread, which varies from 0.7% for the more senior tranches to 5.4% for the more subordinated tranches. CLO notes mature in 2026 and have a weighted average maturity of 6.3 as of March 31, 2020 . The investors in this debt are not affiliated with the Company and have no recourse to the general credit of the Company for this debt. The fair values of the CLO notes are measured based on the fair value of the CLO's corporate loans, as the Company uses the measurement alternative available under ASU 2014-13 and determined that the inputs for measuring financial assets are more observable. The CLO notes are classified within Level 2 of the fair value hierarchy, consistent with the classification of the majority of the CLO financial assets. The Company reviews the detailed prices including comparisons to prior periods for reasonableness. The Company utilizes a formal pricing challenge process to request a review of any price during which time the vendor examines its assumptions and relevant market inputs to determine if a price change is warranted. The following narrative indicates the sensitivity of inputs: • Default Rate: An increase (decrease) in the expected default rate would likely increase (decrease) the discount margin (increase risk premium) used to value the CLO investments and CLO notes and, as a result, would potentially decrease the value of the CLO investments and CLO notes. • Recovery Rate: A decrease (increase) in the expected recovery of defaulted assets would potentially decrease (increase) the valuation of CLO investments and CLO notes. • Prepayment Rate: A decrease (increase) in the expected rate of collateral prepayments would potentially decrease (increase) the valuation of CLO investments and CLO notes as the expected weighted average life ("WAL") would increase (decrease). • Discount Margin (spread over LIBOR): An increase (decrease) in the discount margin used to value the CLO investments and CLO notes would decrease (increase) the value of the CLO investments and CLO notes. Private Equity Funds As prescribed in ASC Topic 820, the unit of account for these investments is the interest in the investee fund. The Company owns an undivided interest in the fund portfolio and does not have the ability to dispose of individual assets and liabilities in the fund portfolio. Rather, the Company would be required to redeem or dispose of its entire interest in the investee fund. There is no current active market for interests in underlying private equity funds. Valuation is generally based on the valuations provided by the fund's general partner or investment manager. The valuations typically reflect the fair value of the Company's capital account balance of each fund investment, including unrealized capital gains (losses), as reported in the financial statements of the respective investee fund as of the respective year end or the latest available date. In circumstances where fair values are not provided, the Company seeks to determine the fair value of fund investments based upon other information provided by the fund's general partner or investment manager or from other sources. The fair value of securities received in-kind from fund investments is determined based on the restrictions around the securities. • Unrestricted, publicly traded securities are valued at the closing public market price on the reporting date; • Restricted, publicly traded securities may be valued at a discount from the closing public market price on the reporting date, depending on the circumstances; and • Privately held securities are valued by the directors/general partner of the investee fund, based on a variety of factors, including the price of recent transactions in the company's securities and the company's earnings, revenue and book value. In the case of direct investments or co-investments in private equity companies, the Company initially recognizes investments at cost and subsequently adjusts investments to fair value. On a quarterly basis, the Company reviews the general partner or lead investor's valuation of the investee company, taking into account other available information, such as indications of a market value through subsequent issues of capital or transactions between third parties, performance of the investee company during the period and public, comparable companies' analysis, where appropriate. Investments in these funds typically may not be fully redeemed at net asset value ("NAV") within 90 days because of inherent restriction on near term redemptions. As of March 31, 2020 and December 31, 2019 , certain private equity funds maintained term loans and revolving lines of credit of $670 and $669 , respectively. The term loans renew every three years and the revolving lines of credit renew annually; all loans bear interest at LIBOR / EURIBOR plus 150 - 200 bps. The lines of credit are used for funding transactions before capital is called from investors, as well as for the financing of certain purchases. As of March 31, 2020 and December 31, 2019 , outstanding borrowings amount to $585 and $602 , respectively. On March 30, 2020, Pomona Investment Fund terminated its three-year revolving credit agreement with Credit Suisse and entered into a five-year revolving credit agreement with Barclays Bank Plc. The size of the facility as of March 31, 2020 is $40 ; the loan bears interest at LIBOR plus 285 bps and has a commitment fee of 85 bps. There was no outstanding borrowing as of March 31, 2020 . The borrowings are reflected in Liabilities related to consolidated investment entities - other liabilities on the Company's Condensed Consolidated Balance Sheets. The borrowings are carried at an amount equal to the unpaid principal balance. The following table summarizes the fair value hierarchy levels of consolidated investment entities as of March 31, 2020 : Level 1 Level 2 Level 3 NAV Total Assets VIEs Cash and cash equivalents $ 52 $ — $ — $ — $ 52 Corporate loans, at fair value using the fair value option — 432 — — 432 Limited partnerships/corporations, at fair value — — — 1,470 1,470 VOEs Limited partnerships/corporations, at fair value — — — 185 185 Total assets, at fair value $ 52 $ 432 $ — $ 1,655 $ 2,139 Liabilities VIEs CLO notes, at fair value using the fair value option $ — $ 368 $ — $ — $ 368 Total liabilities, at fair value $ — $ 368 $ — $ — $ 368 The following table summarizes the fair value hierarchy levels of consolidated investment entities as of December 31, 2019 : Level 1 Level 2 Level 3 NAV Total Assets VIEs Cash and cash equivalents $ 68 $ — $ — $ — $ 68 Corporate loans, at fair value using the fair value option — 513 — — 513 Limited partnerships/corporations, at fair value — — — 1,470 1,470 VOEs Limited partnerships/corporations, at fair value — — — 162 162 Total assets, at fair value $ 68 $ 513 $ — $ 1,632 $ 2,213 Liabilities VIEs CLO notes, at fair value using the fair value option $ — $ 474 $ — $ — $ 474 Total liabilities, at fair value $ — $ 474 $ — $ — $ 474 Transfers of investments out of Level 3 and into Level 2 or Level 1, if any, are recorded as of the beginning of the period in which the transfer occurred. For the three months ended March 31, 2020 and 2019 , there were no transfers in or out of Level 3 or transfers between Level 1 and Level 2. Deconsolidation of Certain Investment Entities The Company had no deconsolidations during the three months ended March 31, 2020 and 2019 , respectively. Nonconsolidated VIEs CLOs In addition to the consolidated CLOs, the Company also holds variable interest in certain CLOs that are not consolidated as it has been determined that the Company is not the primary beneficiary. With these CLOs, the Company serves as the investment manager and receives investment management fees and contingent performance fees. Generally, the Company does not hold any interest in the nonconsolidated CLOs but if it does, such ownership has been deemed to be insignificant. The Company has not provided, and is not obligated to provide, any financial or other support to these entities. The Company reviews its assumptions on a periodic basis to determine if conditions have changed such that the projection of these contingent fees becomes significant enough to reconsider the Company's consolidation status as variable interest holder. As of March 31, 2020 and December 31, 2019 , the Company held $339 and $377 ownership interests, respectively, in unconsolidated CLOs on a continuing basis. Limited Partnerships The Company manages or holds investments in certain private equity funds and hedge funds. With these entities, the Company serves as the investment manager and is entitled to receive at-market investment management fees and at-market contingent performance fees. The Company does not consolidate any of these investment funds for which it is not considered to be the primary beneficiary. In addition, the Company does not consolidate the funds in which its involvement takes a form of a limited partner interest and is restricted to a role of a passive investor, as a limited partner's interest does not provide the Company with any substantive kick-out or participating rights, nor does it provide the Company with power to direct the activities of the fund. The following table presents the carrying amounts of the variable interests in VIEs in which the Company concluded that it holds a variable interest, but is not the primary beneficiary as of the dates indicated. The Company determines its maximum exposure to loss to be: (i) the amount invested in the debt or equity of the VIE and (ii) other commitments and guarantees to the VIE. Variable Interests on the Condensed Consolidated Balance Sheet March 31, 2020 December 31, 2019 Carrying Amount Maximum exposure to loss Carrying Amount Maximum exposure to loss Fixed maturities, available for sale $ 339 $ 339 $ 377 $ 377 Limited partnership/corporations 1,343 1,343 1,290 1,290 Securitizations The Company invests in various tranches of securitization entities, including RMBS, CMBS and ABS. Through its investments, the Company is not obligated to provide any financial or other support to these entities. Each of the RMBS, CMBS and ABS entities are thinly capitalized by design and considered VIEs. The Company's involvement with these entities is limited to that of a passive investor. The Company has no unilateral right to appoint or remove the servicer, special servicer or investment manager, which are generally viewed to have the power to direct the activities that most significantly impact the securitization entities' economic performance, in any of these entities, nor does the Company function in any of these roles. The Company, through its investments or other arrangements, does not have the obligation to absorb losses or the right to receive benefits from the entity that could potentially be significant to the entity. Therefore, the Company is not the primary beneficiary and does not consolidate any of the RMBS, CMBS and ABS entities in which it holds investments. These investments are accounted for as investments available-for-sale as described in the Fair Value Measurements (excluding Consolidated Investment Entities) Note to these Condensed Consolidated Financial Statements and unrealized capital gains (losses) on these securities are recorded directly in AOCI, except for certain RMBS which are accounted for under the FVO whose change in fair value is reflected in Other net realized gains (losses) in the Condensed Consolidated Statements of Operations. The Company’s maximum exposure to loss on these structured investments is limited to the amount of its investment. Refer to the Investments (excluding Consolidated Investment Entities) Note to these Condensed Consolidated Financial Statements for details regarding the carrying amounts and classifications of these assets.

Restructuring

Restructuring	3 Months Ended
	Mar. 31, 2020
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring Organizational Restructuring As a result of the closing of the 2018 Transaction, the decision to cease new sales following the strategic review of the Company’s Individual Life business and additional cost savings targets announced in November 2018, the Company has undertaken restructuring efforts to execute the 2018 Transaction, reduce stranded expenses, as well as improve operational efficiency, strengthen technology capabilities and centralize certain sales, operations and investment management activities ("Organizational Restructuring"). The initiatives associated with the closing of the 2018 Transaction and the decision to cease new sales following the strategic review of the Company's Individual Life Business concluded during 2019. These activities have resulted in recognition of severance and organizational transition costs and are reflected in Operating expenses in the Condensed Consolidated Statements of Operations, but excluded from Adjusted operating earnings before income taxes. These expenses are classified as a component of Other adjustments to Income (loss) from continuing operations before income taxes and consequently are not included in the adjusted operating results of the Company's segments. For the three months ended March 31, 2020 and March 31, 2019 , the Company incurred Organizational Restructuring expenses of $19 and $83 , respectively associated with continuing operations. The summary below presents Organizational Restructuring expenses, pre-tax, by type of costs incurred, for the periods indicated: Three Months Ended March 31, Cumulative Amounts Incurred to Date 2020 2019 Severance benefits $ (3 ) $ 47 $ 55 Organizational transition costs 22 36 224 Total restructuring expenses $ 19 $ 83 $ 279 Including the expense of $19 for the three months ended March 31, 2020 , the aggregate amount of Organizational Restructuring expenses expected to be incurred is in the range of $250 to $300 . The Company anticipates that these costs, which will include severance, organizational transition costs incurred to reorganize operations and other costs such as contract terminations and asset write-offs, will occur at least through the end of 2020. The following table presents the accrued liability associated with Organizational Restructuring expenses as of March 31, 2020 : Severance Benefits Organizational Transition Costs Total Accrued liability as of January 1, 2020 $ 30 $ 25 $ 55 Provision (3 ) 22 19 Payments (7 ) (15 ) (22 ) Accrued liability as of March 31, 2020 $ 20 $ 32 $ 52 Pursuant to the Individual Life Transaction, the Company will divest or dissolve four regulated insurance entities, including its life companies domiciled in Colorado and Indiana, and captive entities domiciled in Arizona. The Company will also divest Voya America Equities LLC, a regulated broker-dealer, and transfer or cease usage of a substantial number of administrative systems. The Company will undertake further restructuring efforts to reduce stranded expenses associated with its Individual Life business as well as its corporate and shared services functions. Through the closing of the Individual Life Transaction, the Company anticipates incurring additional restructuring expenses directly related to the disposition. These collective costs, which include severance, transition and other costs, cannot currently be estimated but could be material. Total Organizational Restructuring expenses include $4 which is reflected in Income (loss) from discontinued operations, net of tax. Refer to the Business Held for Sale and Discontinued Operation Note to these Condensed Consolidated Financial Statements for further information.

Segments

Segments	3 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
Segments	Segments Pursuant to the Individual Life Transaction disclosed in the Business Held for Sale and Discontinued Operations Note, the Company will no longer report its Life Insurance business as a segment. The Company revised prior period information to conform to current period presentation. The Company provides its principal products and services through three segments: Retirement, Investment Management and Employee Benefits. Measurement Adjusted operating earnings before income taxes is a measure used by management to evaluate segment performance. The Company believes that Adjusted operating earnings before income taxes provides a meaningful measure of its business and segment performances and enhances the understanding of the Company’s financial results by focusing on the operating performance and trends of the underlying business segments and excluding items that tend to be highly variable from period to period based on capital market conditions and/or other factors. The Company uses the same accounting policies and procedures to measure segment Adjusted operating earnings before income taxes as it does for the directly comparable U.S. GAAP measure Income (loss) from continuing operations before income taxes. Adjusted operating earnings before income taxes does not replace Income (loss) from continuing operations before income taxes as the U.S. GAAP measure of the Company’s consolidated results of operations. Therefore, the Company believes that it is useful to evaluate both Income (loss) from continuing operations before income taxes and Adjusted operating earnings before income taxes when reviewing the Company’s financial and operating performance. Each segment’s Adjusted operating earnings before income taxes is calculated by adjusting Income (loss) from continuing operations before income taxes for the following items: • Net investment gains (losses), net of related amortization of DAC, VOBA, sales inducements and unearned revenue, which are significantly influenced by economic and market conditions, including interest rates and credit spreads, and are not indicative of normal operations. Net investment gains (losses) include gains (losses) on the sale of securities, impairments, changes in the fair value of investments using the FVO unrelated to the implied loan-backed security income recognition for certain mortgage-backed obligations and changes in the fair value of derivative instruments, excluding realized gains (losses) associated with swap settlements and accrued interest; • Net guaranteed benefit hedging gains (losses), which are significantly influenced by economic and market conditions and are not indicative of normal operations, include changes in the fair value of derivatives related to guaranteed benefits, net of related reserve increases (decreases) and net of related amortization of DAC, VOBA and sales inducements, less the estimated cost of these benefits. The estimated cost, which is reflected in Adjusted operating results, reflects the expected cost of these benefits if markets perform in line with the Company's long-term expectations and includes the cost of hedging. Other derivative and reserve changes related to guaranteed benefits are excluded from adjusted operating earnings, including the impacts related to changes in the Company's nonperformance spread; • Income (loss) related to businesses exited or to be exited through reinsurance or divestment, which includes gains and (losses) associated with transactions to exit blocks of business within continuing operations (including net investment gains (losses) on securities sold and expenses directly related to these transactions) and residual run-off activity (including an insignificant number of Individual Life, Annuities and CBVA policies that were not part of the Individual Life and 2018 Transactions). Excluding this activity, which also includes amortization of intangible assets related to businesses exited or to be exited, better reveals trends in the Company's core business and more closely aligns Adjusted operating earnings before income taxes with how the Company manages its segments; • Income (loss) attributable to noncontrolling interest, which represents the interest of shareholders, other than those of the Company, in consolidated entities. Income (loss) attributable to noncontrolling interest represents such shareholders' interests in the gains and (losses) of those entities, or the attribution of results from consolidated VIEs or VOEs to which the Company is not economically entitled; • Dividend payments made to preferred shareholders are included as reductions to reflect the Adjusted operating earnings that is available to common shareholders; • Income (loss) related to early extinguishment of debt, which includes losses incurred as a result of transactions where the Company repurchases outstanding principal amounts of debt; these losses are excluded from Adjusted operating earnings before income taxes since the outcome of decisions to restructure debt are not indicative of normal operations; • Impairment of goodwill, value of management contract rights and value of customer relationships acquired, which includes losses as a result of impairment analysis; these represent losses related to infrequent events and do not reflect normal, cash-settled expenses; • Immediate recognition of net actuarial gains (losses) related to the Company's pension and other postretirement benefit obligations and gains (losses) from plan amendments and curtailments, 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. The Company immediately recognizes actuarial gains and (losses) related to pension and other postretirement benefit obligations and gains and losses from plan adjustments and curtailments. These amounts do not reflect normal, cash-settled expenses and are not indicative of current Operating expense fundamentals; and • Other items not indicative of normal operations or performance of the Company's segments or related to events such as capital or organizational restructurings undertaken to achieve long-term economic benefits, including certain costs related to debt and equity offerings, acquisition / merger integration expenses, severance and other expenses associated with such activities. These items vary widely in timing, scope and frequency between periods as well as between companies to which the Company is compared. Accordingly, the Company adjusts for these items as management believes that these items distort the ability to make a meaningful evaluation of the current and future performance of the Company's segments. The summary below reconciles Adjusted operating earnings before income taxes for the segments to Income (loss) from continuing operations before income taxes for the periods indicated: Three Months Ended March 31, 2020 2019 Income (loss) from continuing operations before income taxes $ 44 $ 102 Less Adjustments: Net investment gains (losses) and related charges and adjustments (8 ) 13 Net guaranteed benefit hedging gains (losses) and related charges and adjustments (89 ) (4 ) Income (loss) related to businesses exited or to be exited through reinsurance or divestment 9 9 Income (loss) attributable to noncontrolling interest 6 (1 ) Income (loss) related to early extinguishment of debt — — Immediate recognition of net actuarial gains (losses) related to pension and other post-employment benefit obligations and gains (losses) from plan amendments and curtailments — 66 Dividend payments made to preferred shareholders 14 10 Other adjustments (22 ) (92 ) Total adjustments to income (loss) from continuing operations $ (90 ) $ 1 Adjusted operating earnings before income taxes by segment: Retirement $ 124 $ 129 Investment Management 40 34 Employee Benefits 61 38 Corporate (91 ) (100 ) Total $ 134 $ 101 Adjusted operating revenues is a measure of the Company's segment revenues. Each segment's Operating revenues are calculated by adjusting Total revenues to exclude the following items: • Net investment gains (losses) and related charges and adjustments, which are significantly influenced by economic and market conditions, including interest rates and credit spreads and are not indicative of normal operations. Net investment gains (losses) include gains (losses) on the sale of securities, impairments, changes in the fair value of investments using the FVO unrelated to the implied loan-backed security income recognition for certain mortgage-backed obligations and changes in the fair value of derivative instruments, excluding realized gains (losses) associated with swap settlements and accrued interest. These are net of related amortization of unearned revenue; • Gains (losses) on changes in fair value of derivatives related to guaranteed benefits, which is significantly influenced by economic and market conditions and not indicative of normal operations, includes changes in the fair value of derivatives related to guaranteed benefits, less the estimated cost of these benefits. The estimated cost, which is reflected in Adjusted operating revenues, reflects the expected cost of these benefits if markets perform in line with the Company's long-term expectations and includes the cost of hedging. Other derivative and reserve changes related to guaranteed benefits are excluded from Adjusted operating revenues, including the impacts related to changes in the Company's nonperformance spread; • Revenues related to businesses exited or to be exited through reinsurance or divestment, which includes revenues associated with transactions to exit blocks of business within continuing operations (including net investment gains (losses) on securities sold related to these transactions) and residual run-off activity (including an insignificant number of Individual Life, Annuities and CBVA policies that were not part of the Individual Life and 2018 Transactions). Excluding this activity better reveals trends in the Company's core business and more closely aligns Adjusted operating revenues with how the Company manages its segments; • Revenues attributable to noncontrolling interest, which represents the interests of shareholders, other than the Company, in consolidated entities. Revenues attributable to noncontrolling interest represents such shareholders' interests in the gains and losses of those entities, or the attribution of results from consolidated VIEs or VOEs to which the Company is not economically entitled; and • Other adjustments to Total revenues primarily reflect fee income earned by the Company's broker-dealers for sales of non-proprietary products, which are reflected net of commission expense in the Company's segments’ operating revenues, other items where the income is passed on to third parties and the elimination of intercompany investment expenses included in Adjusted operating revenues. The summary below reconciles Adjusted operating revenues for the segments to Total revenues for the periods indicated: Three Months Ended March 31, 2020 2019 Total revenues $ 1,685 $ 1,822 Adjustments: Net realized investment gains (losses) and related charges and adjustments (8 ) 13 Gains (losses) on change in fair value of derivatives related to guaranteed benefits (90 ) (4 ) Revenues related to businesses exited or to be exited through reinsurance or divestment 344 398 Revenues attributable to noncontrolling interest 9 4 Other adjustments 33 82 Total adjustments to revenues $ 288 $ 493 Adjusted operating revenues by segment: Retirement $ 677 $ 648 Investment Management 166 148 Employee Benefits 543 508 Corporate 11 25 Total $ 1,397 $ 1,329 Other Segment Information The Investment Management segment revenues include the following intersegment revenues, primarily consisting of asset-based management and administration fees for the periods indicated: Three Months Ended March 31, 2020 2019 Investment Management intersegment revenues $ 26 $ 26 The summary below presents Total assets for the Company’s segments as of the dates indicated: March 31, 2020 December 31, 2019 Retirement $ 106,068 $ 118,024 Investment Management 648 745 Employee Benefits 2,642 3,117 Corporate 25,362 25,206 Total assets, before consolidation (1) 134,720 147,092 Consolidation of investment entities 1,879 1,890 Total assets, excluding assets held for sale 136,599 148,982 Assets held for sale 19,133 20,069 Total assets $ 155,732 $ 169,051 (1) Total assets, before consolidation includes the Company's direct investments in CIEs prior to consolidation, which are accounted for using the equity method or fair value option.

Condensed Consolidating Financi

Condensed Consolidating Financial Information	3 Months Ended
	Mar. 31, 2020
Condensed Financial Information Disclosure [Abstract]
Condensed Consolidating Financial Information	Condensed Consolidating Financial Information The accompanying condensed consolidating financial information has been prepared and presented pursuant to SEC Regulation S-X, Rule 3-10, "Financial Statements of Guarantors and Issuers of Guaranteed Securities Registered or Being Registered" ("Rule 3-10"). The condensed consolidating financial information presents the financial position of Voya Financial, Inc. ("Parent Issuer"), Voya Holdings ("Subsidiary Guarantor") and all other subsidiaries ("Non-Guarantor Subsidiaries") of the Company as of March 31, 2020 and December 31, 2019 , their results of operations, comprehensive income and statements of cash flows for the three months ended March 31, 2020 and 2019 . The 5.7% senior notes due 2043, the 3.65% senior notes due 2026, the 4.8% senior notes due 2046, the 3.125% senior notes due 2024 (collectively, the "Senior Notes"), the 5.65% fixed-to-floating rate junior subordinated notes due 2053 and the 4.7% fixed-to-floating junior subordinated notes due 2048 (collectively, the "Junior Subordinated Notes"), each issued by Parent Issuer, are fully and unconditionally guaranteed by Subsidiary Guarantor, a 100% owned subsidiary of Parent Issuer. No other subsidiary of Parent Issuer guarantees the Senior Notes or the Junior Subordinated Notes. Rule 3-10(h) provides that a guarantee is full and unconditional if, when the issuer of a guaranteed security has failed to make a scheduled payment, the guarantor is obligated to make the scheduled payment immediately and, if it does not, any holder of the guaranteed security may immediately bring suit directly against the guarantor for payment of amounts due and payable. In the event that Parent Issuer does not fulfill the guaranteed obligations, any holder of the Senior Notes or the Junior Subordinated Notes may immediately bring a claim against Subsidiary Guarantor for amounts due and payable. The following condensed consolidating financial information is presented in conformance with the components of the Condensed Consolidated Financial Statements. Investments in subsidiaries are accounted for using the equity method for purposes of illustrating the consolidating presentation. Equity in the subsidiaries is therefore reflected in the Parent Issuer's and Subsidiary Guarantor's Investment in subsidiaries and Equity in earnings of subsidiaries. Non-Guarantor Subsidiaries represent all other subsidiaries on a combined basis. The consolidating adjustments presented herein eliminate investments in subsidiaries and intercompany balances and transactions. Condensed Consolidating Balance Sheet March 31, 2020 Parent Issuer Subsidiary Guarantor Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated Assets: Investments: Fixed maturities, available-for-sale, at fair value $ 5 $ — $ 37,594 $ (15 ) $ 37,584 Fixed maturities, at fair value using the fair value option — — 2,855 — 2,855 Equity securities, at fair value — — 176 — 176 Short-term investments — — 80 — 80 Mortgage loans on real estate, net of valuation allowance — — 6,969 — 6,969 Less: Allowance for credit losses — — 22 — 22 Mortgage loans on real estate, net — — 6,947 — 6,947 Policy loans — — 763 — 763 Limited partnerships/corporations 4 — 1,339 — 1,343 Derivatives 50 — 825 — 875 Investments in subsidiaries 9,479 7,311 — (16,790 ) — Other investments — — 392 — 392 Securities pledged — — 1,555 — 1,555 Total investments 9,538 7,311 52,526 (16,805 ) 52,570 Cash and cash equivalents 221 — 812 — 1,033 Short-term investments under securities loan agreements, including collateral delivered 11 — 2,172 — 2,183 Accrued investment income — — 541 — 541 Premium receivable and reinsurance recoverable — — 3,744 — 3,744 Less: Allowance for credit losses on reinsurance recoverable — — 22 — 22 Premium receivable and reinsurance recoverable, net — — 3,722 — 3,722 Deferred policy acquisition costs and Value of business acquired — — 2,603 — 2,603 Deferred income taxes 828 42 899 — 1,769 Loans to subsidiaries and affiliates 245 — 626 (871 ) — Due from subsidiaries and affiliates 5 — 17 (22 ) — Other assets 24 — 1,062 — 1,086 Assets related to consolidated investment entities: Limited partnerships/corporations, at fair value — — 1,655 — 1,655 Cash and cash equivalents — — 52 — 52 Corporate loans, at fair value using the fair value option — — 432 — 432 Other assets — — 16 — 16 Assets held in separate accounts — — 68,937 — 68,937 Assets held for sale — — 19,133 — 19,133 Total assets $ 10,872 $ 7,353 $ 155,205 $ (17,698 ) $ 155,732 Condensed Consolidating Balance Sheet (Continued) March 31, 2020 Parent Issuer Subsidiary Guarantor Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated Liabilities and Shareholders' Equity: Future policy benefits $ — $ — $ 9,640 $ — $ 9,640 Contract owner account balances — — 41,981 — 41,981 Payables under securities loan and repurchase agreements, including collateral held (28 ) — 2,093 — 2,065 Short-term debt 626 67 179 (871 ) 1 Long-term debt 2,669 371 17 (15 ) 3,042 Derivatives 77 — 991 — 1,068 Pension and other postretirement provisions — — 442 — 442 Current income taxes 28 (18 ) 20 — 30 Due to subsidiaries and affiliates 15 — 4 (19 ) — Other liabilities 58 4 1,190 (3 ) 1,249 Liabilities related to consolidated investment entities: Collateralized loan obligations notes, at fair value using the fair value option — — 368 — 368 Other liabilities — — 672 — 672 Liabilities related to separate accounts — — 68,937 — 68,937 Liabilities held for sale — — 17,972 — 17,972 Total liabilities 3,445 424 144,506 (908 ) 147,467 Shareholders' equity: Total Voya Financial, Inc. shareholders' equity 7,427 6,929 9,861 (16,790 ) 7,427 Noncontrolling interest — — 838 — 838 Total shareholders' equity 7,427 6,929 10,699 (16,790 ) 8,265 Total liabilities and shareholders' equity $ 10,872 $ 7,353 $ 155,205 $ (17,698 ) $ 155,732 Condensed Consolidating Balance Sheet December 31, 2019 Parent Issuer Subsidiary Guarantor Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated Assets: Investments: Fixed maturities, available-for-sale, at fair value $ 5 $ — $ 39,673 $ (15 ) $ 39,663 Fixed maturities, at fair value using the fair value option — — 2,707 — 2,707 Equity securities, at fair value — — 196 — 196 Short-term investments — — 68 — 68 Mortgage loans on real estate, net of valuation allowance — — 6,878 — 6,878 Less: Allowance for credit losses — — — — — Mortgage loans on real estate, net — — 6,878 — 6,878 Policy loans — — 776 — 776 Limited partnerships/corporations 4 — 1,286 — 1,290 Derivatives 49 — 267 — 316 Investments in subsidiaries 11,003 8,493 — (19,496 ) — Other investments — — 385 — 385 Securities pledged — — 1,408 — 1,408 Total investments 11,061 8,493 53,644 (19,511 ) 53,687 Cash and cash equivalents 212 — 969 — 1,181 Short-term investments under securities loan agreements, including collateral delivered 11 — 1,384 — 1,395 Accrued investment income — — 505 — 505 Premium receivable and reinsurance recoverable — — 3,732 — 3,732 Less: Allowance for credit losses on reinsurance recoverable — — — — — Premium receivable and reinsurance recoverable, net — — 3,732 — 3,732 Deferred policy acquisition costs and Value of business acquired — — 2,226 — 2,226 Deferred income taxes 816 39 603 — 1,458 Loans to subsidiaries and affiliates 164 — 69 (233 ) — Due from subsidiaries and affiliates 2 — 6 (8 ) — Other assets 7 — 895 — 902 Assets related to consolidated investment entities: Limited partnerships/corporations, at fair value — — 1,632 — 1,632 Cash and cash equivalents — — 68 — 68 Corporate loans, at fair value using the fair value option — — 513 — 513 Other assets — — 13 — 13 Assets held in separate accounts — — 81,670 — 81,670 Assets held for sale — — 20,069 — 20,069 Total assets $ 12,273 $ 8,532 $ 167,998 $ (19,752 ) $ 169,051 Condensed Consolidating Balance Sheet (Continued) December 31, 2019 Parent Issuer Subsidiary Guarantor Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated Liabilities and Shareholders' Equity: Future policy benefits $ — $ — $ 9,945 $ — $ 9,945 Contract owner account balances — — 40,923 — 40,923 Payables under securities loan and repurchase agreements, including collateral held — — 1,373 — 1,373 Short-term debt 69 87 78 (233 ) 1 Long-term debt 2,669 371 17 (15 ) 3,042 Derivatives 50 — 353 — 403 Pension and other postretirement provisions — — 468 — 468 Current income taxes 28 (17 ) 16 — 27 Due to subsidiaries and affiliates 4 — 2 (6 ) — Other liabilities 45 10 1,292 (2 ) 1,345 Liabilities related to consolidated investment entities: Collateralized loan obligations notes, at fair value using the fair value option — — 474 — 474 Other liabilities — — 652 — 652 Liabilities related to separate accounts — — 81,670 — 81,670 Liabilities held for sale — — 18,498 — 18,498 Total liabilities 2,865 451 155,761 (256 ) 158,821 Shareholders' equity: Total Voya Financial, Inc. shareholders' equity 9,408 8,081 11,415 (19,496 ) 9,408 Noncontrolling interest — — 822 — 822 Total shareholders' equity 9,408 8,081 12,237 (19,496 ) 10,230 Total liabilities and shareholders' equity $ 12,273 $ 8,532 $ 167,998 $ (19,752 ) $ 169,051 Condensed Consolidating Statement of Operations For the Three Months Ended March 31, 2020 Parent Issuer Subsidiary Guarantor Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated Revenues: Net investment income $ 3 $ — $ 698 $ (3 ) $ 698 Fee income — — 505 — 505 Premiums — — 608 — 608 Net realized capital gains (losses): Total impairments — — (20 ) — (20 ) Other net realized capital gains (losses) (26 ) — (187 ) — (213 ) Total net realized capital gains (losses) (26 ) — (207 ) — (233 ) Other revenue — — 92 — 92 Income (loss) related to consolidated investment entities: Net investment income — — 15 — 15 Total revenues (23 ) — 1,711 (3 ) 1,685 Benefits and expenses: Policyholder benefits — — 596 — 596 Interest credited to contract owner account balances — — 286 — 286 Operating expenses 4 — 636 — 640 Net amortization of Deferred policy acquisition costs and Value of business acquired — — 76 — 76 Interest expense 34 7 2 (3 ) 40 Operating expenses related to consolidated investment entities: Interest expense — — 3 — 3 Total benefits and expenses 38 7 1,599 (3 ) 1,641 Income (loss) from continuing operations before income taxes (61 ) (7 ) 112 — 44 Income tax expense (benefit) (13 ) (3 ) 10 — (6 ) Income (loss) from continuing operations (48 ) (4 ) 102 — 50 Income (loss) from discontinued operations, net of tax — — (128 ) — (128 ) Net income (loss) before equity in earnings (losses) of unconsolidated affiliates (48 ) (4 ) (26 ) — (78 ) Equity in earnings (losses) of subsidiaries, net of tax (36 ) 136 — (100 ) — Net income (loss) (84 ) 132 (26 ) (100 ) (78 ) Less: Net income (loss) attributable to noncontrolling interest — — 6 — 6 Net income (loss) available to Voya Financial, Inc. (84 ) 132 (32 ) (100 ) (84 ) Less: Preferred stock dividends 14 — — — 14 Net income (loss) available to Voya Financial, Inc.'s common shareholders $ (98 ) $ 132 $ (32 ) $ (100 ) $ (98 ) Condensed Consolidating Statement of Operations For the Three Months Ended March 31, 2019 Parent Issuer Subsidiary Guarantor Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated Revenues: Net investment income $ 15 $ — $ 646 $ (3 ) $ 658 Fee income — — 482 — 482 Premiums — — 575 — 575 Net realized capital gains (losses): Total impairments — — (26 ) — (26 ) Other net realized capital gains (losses) — — 14 — 14 Total net realized capital gains (losses) — — (12 ) — (12 ) Other revenue — — 114 — 114 Income (loss) related to consolidated investment entities: Net investment income — — 5 — 5 Total revenues 15 — 1,810 (3 ) 1,822 Benefits and expenses: Policyholder benefits — — 645 — 645 Interest credited to contract owner account balances — — 289 — 289 Operating expenses 3 — 679 — 682 Net amortization of Deferred policy acquisition costs and Value of business acquired — — 57 — 57 Interest expense 37 6 2 (3 ) 42 Operating expenses related to consolidated investment entities: Interest expense — — 5 — 5 Total benefits and expenses 40 6 1,677 (3 ) 1,720 Income (loss) from continuing operations before income taxes (25 ) (6 ) 133 — 102 Income tax expense (benefit) (5 ) (1 ) 15 — 9 Income (loss) from continuing operations (20 ) (5 ) 118 — 93 Income (loss) from discontinued operations, net of tax — (79 ) 59 — (20 ) Net income (loss) before equity in earnings (losses) of unconsolidated affiliates (20 ) (84 ) 177 — 73 Equity in earnings (losses) of subsidiaries, net of tax 94 68 — (162 ) — Net income (loss) 74 (16 ) 177 (162 ) 73 Less: Net income (loss) attributable to noncontrolling interest — — (1 ) — (1 ) Net income (loss) available to Voya Financial, Inc. 74 (16 ) 178 (162 ) 74 Less: Preferred stock dividends 10 — — — 10 Net income (loss) available to Voya Financial, Inc.'s common shareholders $ 64 $ (16 ) $ 178 $ (162 ) $ 64 Condensed Consolidating Statement of Comprehensive Income For the Three Months Ended March 31, 2020 Parent Issuer Subsidiary Guarantor Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated Net income (loss) $ (84 ) $ 132 $ (26 ) $ (100 ) $ (78 ) Other comprehensive income (loss), before tax: Unrealized gains (losses) on securities (1,884 ) (1,537 ) (1,885 ) 3,422 (1,884 ) Impairments — — — — — Pension and other postretirement benefits liability (1 ) — (1 ) 1 (1 ) Other comprehensive income (loss), before tax (1,885 ) (1,537 ) (1,886 ) 3,423 (1,885 ) Income tax expense (benefit) related to items of other comprehensive income (loss) (395 ) (323 ) (396 ) 719 (395 ) Other comprehensive income (loss), after tax (1,490 ) (1,214 ) (1,490 ) 2,704 (1,490 ) Comprehensive income (loss) (1,574 ) (1,082 ) (1,516 ) 2,604 (1,568 ) Less: Comprehensive income (loss) attributable to noncontrolling interest — — 6 — 6 Comprehensive income (loss) attributable to Voya Financial, Inc. $ (1,574 ) $ (1,082 ) $ (1,522 ) $ 2,604 $ (1,574 ) Condensed Consolidating Statement of Comprehensive Income For the Three Months Ended March 31, 2019 Parent Issuer Subsidiary Guarantor Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated Net income (loss) $ 74 $ (16 ) $ 177 $ (162 ) $ 73 Other comprehensive income (loss), before tax: Unrealized gains (losses) on securities 1,284 1,036 1,284 (2,320 ) 1,284 Impairments 1 1 1 (2 ) 1 Pension and other postretirement benefits liability (1 ) — (1 ) 1 (1 ) Other comprehensive income (loss), before tax 1,284 1,037 1,284 (2,321 ) 1,284 Income tax expense (benefit) related to items of other comprehensive income (loss) 268 216 268 (484 ) 268 Other comprehensive income (loss), after tax 1,016 821 1,016 (1,837 ) 1,016 Comprehensive income (loss) 1,090 805 1,193 (1,999 ) 1,089 Less: Comprehensive income (loss) attributable to noncontrolling interest — — (1 ) — (1 ) Comprehensive income (loss) attributable to Voya Financial, Inc. $ 1,090 $ 805 $ 1,194 $ (1,999 ) $ 1,090 Condensed Consolidating Statement of Cash Flows For the Three Months Ended March 31, 2020 Parent Issuer Subsidiary Guarantor Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated Net cash (used in) provided by operating activities $ (27 ) $ 13 $ (35 ) $ (27 ) $ (76 ) Cash Flows from Investing Activities: Proceeds from the sale, maturity, disposal or redemption of: Fixed maturities — — 1,185 — 1,185 Equity securities — — 2 — 2 Mortgage loans on real estate — — 144 — 144 Limited partnerships/corporations — — 71 — 71 Acquisition of: Fixed maturities — — (1,537 ) — (1,537 ) Equity securities — — (1 ) — (1 ) Mortgage loans on real estate — — (234 ) — (234 ) Limited partnerships/corporations — — (112 ) — (112 ) Short-term investments, net — — (12 ) — (12 ) Derivatives, net — — 174 — 174 Sales from consolidated investments entities — — 63 — 63 Purchases within consolidated investment entities — — (206 ) — (206 ) Maturity (issuance) of short-term intercompany loans, net (81 ) — (557 ) 638 — Return of capital contributions and dividends from subsidiaries — 7 — (7 ) — Collateral received (delivered), net (28 ) — (68 ) — (96 ) Other, net — — (11 ) — (11 ) Net cash used in investing activities - discontinued operations — — (241 ) — (241 ) Net cash (used in) provided by investing activities (109 ) 7 (1,340 ) 631 (811 ) Condensed Consolidating Statement of Cash Flows (Continued) For the Three Months Ended March 31, 2020 Parent Issuer Subsidiary Guarantor Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated Cash Flows from Financing Activities: Deposits received for investment contracts — — 2,038 — 2,038 Maturities and withdrawals from investment contracts — — (1,399 ) — (1,399 ) Settlements on deposit contracts — — (2 ) — (2 ) Net proceeds from (repayments of) short-term intercompany loans 557 (20 ) 101 (638 ) — Return of capital contributions and dividends to parent — — (34 ) 34 — Borrowings of consolidated investment entities — — 122 — 122 Repayments of borrowings of consolidated investment entities — — (176 ) — (176 ) Contributions from (distributions to) participants in consolidated investment entities — — 348 — 348 Proceeds from issuance of common stock, net 2 — — — 2 Share-based compensation (14 ) — — — (14 ) Common stock acquired - Share repurchase (366 ) — — — (366 ) Dividends paid on common stock (20 ) — — — (20 ) Dividends paid on preferred stock (14 ) — — — (14 ) Principal payments for financing leases — — (5 ) — (5 ) Net cash provided by financing activities - discontinued operations — — 213 — 213 Net cash provided by (used in) financing activities 145 (20 ) 1,206 (604 ) 727 Net increase (decrease) in cash and cash equivalents 9 — (169 ) — (160 ) Cash and cash equivalents, beginning of period 212 — 1,260 — 1,472 Cash and cash equivalents, end of period 221 — 1,091 — 1,312 Less: Cash and cash equivalents of discontinued operations, end of period — — 279 — 279 Cash and cash equivalents of continuing operations, end of period $ 221 $ — $ 812 $ — $ 1,033 Condensed Consolidating Statement of Cash Flows For the Three Months Ended March 31, 2019 Parent Issuer Subsidiary Guarantor Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated Net cash (used in) provided by operating activities $ (42 ) $ 16 $ 183 $ (26 ) $ 131 Cash Flows from Investing Activities: Proceeds from the sale, maturity, disposal or redemption of: Fixed maturities — — 2,078 — 2,078 Equity securities 7 — 2 — 9 Mortgage loans on real estate — — 307 — 307 Limited partnerships/corporations — — 37 — 37 Acquisition of: Fixed maturities — — (2,035 ) — (2,035 ) Equity securities (17 ) — (1 ) — (18 ) Mortgage loans on real estate — — (155 ) — (155 ) Limited partnerships/corporations — — (60 ) — (60 ) Short-term investments, net — — (9 ) — (9 ) Derivatives, net — — 45 — 45 Sales from consolidated investments entities — — 57 — 57 Purchases within consolidated investment entities — — (91 ) — (91 ) Maturity (issuance) of short-term intercompany loans, net (71 ) — (200 ) 271 — Return of capital contributions and dividends from subsidiaries 200 4 — (204 ) — Collateral received (delivered), net — — (107 ) — (107 ) Other, net — — (26 ) — (26 ) Net cash used in investing activities - discontinued operations — — (76 ) — (76 ) Net cash provided by (used in) investing activities 119 4 (234 ) 67 (44 ) Condensed Consolidating Statement of Cash Flows (Continued) For the Three Months Ended March 31, 2019 Parent Issuer Subsidiary Guarantor Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated Cash Flows from Financing Activities: Deposits received for investment contracts — — 1,076 — 1,076 Maturities and withdrawals from investment contracts — — (1,525 ) — (1,525 ) Settlements on deposit contracts — — (2 ) — (2 ) Net (repayments of) proceeds from short-term intercompany loans 200 8 63 (271 ) — Return of capital contributions and dividends to parent — (30 ) (200 ) 230 — Borrowings of consolidated investment entities — — 36 — 36 Contributions from (distributions to) participants in consolidated investment entities, net — — (25 ) — (25 ) Proceeds from issuance of common stock, net 2 — — — 2 Share-based compensation (15 ) — — — (15 ) Common stock acquired - Share repurchase (250 ) — — — (250 ) Dividends paid on common stock (1 ) — — — (1 ) Dividends paid on preferred stock (10 ) — — — (10 ) Net cash provided by financing activities - discontinued operations — — 122 — 122 Net cash used in financing activities (74 ) (22 ) (455 ) (41 ) (592 ) Net increase (decrease) in cash and cash equivalents 3 (2 ) (506 ) — (505 ) Cash and cash equivalents, beginning of period 209 2 1,327 — 1,538 Cash and cash equivalents, end of period 212 — 821 — 1,033 Less: Cash and cash equivalents of discontinued operations, end of period — — 227 — 227 Cash and cash equivalents of continuing operations, end of period $ 212 $ — $ 594 $ — $ 806

Business, Basis of Presentati_2

Business, Basis of Presentation and Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying Condensed Consolidated Financial Statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States ("U.S. GAAP") and are unaudited. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the Condensed Consolidated Financial Statements and the reported amounts of revenues and expenses during the reporting period. The inputs into the Company's estimates and assumptions consider the economic implications of COVID-19 on the Company's critical and significant accounting estimates. Those estimates are inherently subject to change and actual results could differ from those estimates, and the differences may be material to the Condensed Consolidated Financial Statements. The Condensed Consolidated Financial Statements include the accounts of Voya Financial, Inc. and its subsidiaries, as well as other voting interest entities ("VOEs") and variable interest entities ("VIEs") in which the Company has a controlling financial interest. See the Consolidated Investment Entities Note to these Condensed Consolidated Financial Statements . Intercompany transactions and balances have been eliminated. The accompanying Condensed Consolidated Financial Statements reflect adjustments (including normal, recurring adjustments) necessary to present fairly the financial position of the Company as of March 31, 2020 , its results of operations, comprehensive income and changes in shareholders' equity for the three months ended March 31, 2020 and 2019 , and its statements of cash flows for the three months ended March 31, 2020 and 2019 , in conformity with U.S. GAAP. Interim results are not necessarily indicative of full year performance. The December 31, 2019 Consolidated Balance Sheet is from the audited Consolidated Financial Statements included in the Company's Annual Report on Form 10-K , filed with the SEC. Therefore, these unaudited Condensed Consolidated Financial Statements should be read in conjunction with the audited Consolidated Financial Statements and related notes included in the Company's Annual Report on Form 10-K .
Investment	Investments Mortgage Loans on Real Estate : The Company's mortgage loans on real estate are all commercial mortgage loans, which are reported at amortized cost, net of the allowance for credit losses. Amortized cost is the principal balance outstanding, net of deferred loan fees and costs. Accrued interest receivable is reported in Accrued investment income on the Condensed Consolidated Balance Sheets. Mortgage loans are evaluated by the Company's investment professionals, including an appraisal of loan-specific performance, property characteristics and market trends. Loan performance is continuously monitored on a loan-specific basis throughout the year. The Company's review includes submitted appraisals, operating statements, rent revenues and annual inspection reports, among other items. This review evaluates whether the properties are performing at a consistent and acceptable level to secure the debt. Management estimates the credit loss allowance balance using a factor-based method of probability of default and loss given default which incorporates relevant available information, from internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts. Included in the factor-based method are the consideration of debt type, capital market factors, and market vacancy rates, and loan-specific risk characteristics such as debt service coverage ratios (“DSCR”), loan-to-value (“LTV”), collateral size, seniority of the loan, segmentation, and property types. The allowance for credit losses is a valuation account that is deducted from the loans’ amortized cost basis to present the net amount expected to be collected on the loans. The change in the allowance for credit losses is recorded in Other net realized capital gains (losses) in the Condensed Consolidated Statements of Operations. Loans are written off against the allowance when management believes the uncollectability of a loan balance is confirmed. Expected recoveries do not exceed the aggregate of amounts previously written-off and expected to be written-off. Mortgages are rated for the purpose of quantifying the level of risk. Those loans with higher risk are placed on a watch list and are closely monitored for collateral deficiency or other credit events that may lead to a potential loss of principal or interest. The Company defines delinquent mortgage loans consistent with industry practice as 60 days past due. Commercial mortgage loans are placed on non-accrual status when 90 days in arrears if the Company has concerns regarding the collectability of future payments, or if a loan has matured without being paid off or extended. Factors considered may include conversations with the borrower, loss of major tenant, bankruptcy of borrower or major tenant, decreased property cash flow, number of days past due, or various other circumstances. Based on an assessment as to the collectability of the principal, a determination is made either to apply against the book value or apply according to the contractual terms of the loan. Funds recovered in excess of book value would then be applied to recover expenses, credit loss allowance, and then interest. Accrual of interest resumes after factors resulting in doubts about collectability have improved. For those mortgages that are determined to require foreclosure, expected credit losses are based on the fair value of the underlying collateral, net of estimated costs to obtain and sell at the point of foreclosure. Property obtained from foreclosed mortgage loans is recorded in Other investments on the Condensed Consolidated Balance Sheets. Impairments The Company evaluates its available-for-sale investments quarterly to determine whether a decline in fair value below the amortized cost basis has resulted from credit loss or other factors. This evaluation process entails considerable judgment and estimation. Factors considered in this analysis include, but are not limited to, the extent to which the fair value has been less than amortized cost, the issuer's financial condition and near-term prospects, future economic conditions and market forecasts, interest rate changes and changes in ratings of the security. A severe unrealized loss position on a fixed maturity may not have any impact on: (a) the ability of the issuer to service all scheduled interest and principal payments and (b) the evaluation of recoverability of all contractual cash flows or the ability to recover an amount at least equal to its amortized cost based on the present value of the expected future cash flows to be collected. When assessing the Company's intent to sell a security, or if it is more likely than not it will be required to sell a security before recovery of its amortized cost basis, management evaluates facts and circumstances such as, but not limited to, decisions to rebalance the investment portfolio and sales of investments to meet cash flow or capital needs. When the Company has determined it has the intent to sell, or if it is more likely than not that the Company will be required to sell a security before recovery of its amortized cost basis, and the fair value has declined below amortized cost ("intent impairment"), the individual security is written down from amortized cost to fair value, and a corresponding charge is recorded in Net realized capital gains (losses) in the Condensed Consolidated Statements of Operations as Impairments. For available-for-sale securities that do not meet the intent impairment criteria but the Company has determined that a credit loss exists, the present value of cash flows expected to be collected from the security are compared to the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis, a credit loss allowance is recorded for the credit loss, limited by the amount that the fair value is less than the amortized cost basis. Any impairment that has not been recorded through an allowance for credit losses is recognized in Other comprehensive income (loss). The Company uses the following methodology and significant inputs in determining whether a credit loss exists: • When determining collectability and the period over which the value is expected to recover for U.S. and foreign corporate securities, foreign government securities and state and political subdivision securities, the Company applies the same considerations utilized in its overall impairment evaluation process, which incorporates information regarding the specific security, the industry and geographic area in which the issuer operates and overall macroeconomic conditions. Projected future cash flows are estimated using assumptions derived from the Company's best estimates of likely scenario-based outcomes, after giving consideration to a variety of variables that includes, but is not limited to: general payment terms of the security; the likelihood that the issuer can service the scheduled interest and principal payments; the quality and amount of any credit enhancements; the security's position within the capital structure of the issuer; possible corporate restructurings or asset sales by the issuer; and changes to the rating of the security or the issuer by rating agencies. • Additional considerations are made when assessing the unique features that apply to certain structured securities, such as subprime, Alt-A, non-agency RMBS, CMBS and ABS. These additional factors for structured securities include, but are not limited to: the quality of underlying collateral; expected prepayment speeds; loan-to-value ratios; debt service coverage ratios; current and forecasted loss severity; consideration of the payment terms of the underlying assets backing a particular security; and the payment priority within the tranche structure of the security. • When determining the amount of the credit loss for U.S. and foreign corporate securities, foreign government securities and state and political subdivision securities, the Company considers the estimated fair value as the recovery value when available information does not indicate that another value is more appropriate. When information is identified that indicates a recovery value other than estimated fair value, the Company considers in the determination of recovery value the same considerations utilized in its overall impairment evaluation process, which incorporates available information and the Company's best estimate of scenario-based outcomes regarding the specific security and issuer; possible corporate restructurings or asset sales by the issuer; the quality and amount of any credit enhancements; the security's position within the capital structure of the issuer; fundamentals of the industry and geographic area in which the security issuer operates; and the overall macroeconomic conditions. • The Company performs a discounted cash flow analysis comparing the current amortized cost of a security to the present value of future cash flows expected to be received, including estimated defaults and prepayments. The discount rate is generally the effective interest rate of the fixed maturity prior to impairment. Changes in the allowance for credit losses are recorded in Net realized capital gains (losses) as Impairments in the Condensed Consolidated Statements of Operations. Losses are charged against the allowance when the Company believes the uncollectability of an available-for-sale security is confirmed or when either of the criteria regarding intent or requirement to sell is met. Accrued interest receivable on available-for-sale securities is excluded from the estimate of credit losses.
Reinsurance	Reinsurance The Company utilizes reinsurance agreements in most aspects of its insurance business to reduce its exposure to large losses. Such reinsurance permits recovery of a portion of losses from reinsurers, although it does not discharge the primary liability of the Company as direct insurer of the risks reinsured. Accounting for reinsurance requires use of assumptions and estimates, particularly related to the future performance of the underlying business and the potential impact of counterparty credit risks. The Company periodically reviews actual and anticipated experience compared to the assumptions used to establish assets and liabilities relating to ceded and assumed reinsurance. The Company also evaluates the financial strength of potential reinsurers and continually monitors the financial condition of reinsurers. Reinsurance recoverable balances are reported net of the allowance for credit losses in the Company’s Condensed Consolidated Balance Sheets. Management estimates the credit loss allowance balance using a factor-based method of probability of default and loss given default which incorporates relevant available information, from internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts. Included in the factor-based method are the consideration of capital market factors, counterparty financial information and ratings, and reinsurance agreement-specific risk characteristics such as collateral type, collateral size, and covenant strength. The allowance for credit losses is a valuation account that is deducted from the reinsurance recoverable balance to present the net amount expected to be collected on the reinsurance recoverable. The change in the allowance for credit losses is recorded in Policyholder benefits in the Condensed Consolidated Statements of Operations.
Adoption of New Pronouncements	Adoption of New Pronouncements The following table provides a description of the Company's adoption of new Accounting Standard Updates ("ASUs") issued by the Financial Accounting Standards Board ("FASB") and the impact of the adoption on the Company's financial statements. Standard Description of Requirements Effective Date and Method of Adoption Effect on the Financial Statements or Other Significant Matters ASU 2018-15, Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract This standard, issued in August 2018, requires a customer in a hosting arrangement that is a service contract to follow the guidance for internal-use software projects to determine which implementation costs to capitalize as an asset. Capitalized implementation costs are required to be expensed over the term of the hosting arrangement. In addition, a customer is required to apply the impairment and abandonment guidance for long-lived assets to the capitalized implementation costs. Balances related to capitalized implementation costs must be presented in the same financial statement line items as other hosting arrangement balances, and additional disclosures are required. January 1, 2020 using the prospective method. Adoption of the ASU did not have a material impact on the Company's financial condition, results of operations, or cash flows. ASU 2018-13, Changes to the Disclosure Requirements for Fair Value Measurement This standard, issued in August 2018, simplifies certain disclosure requirements for fair value measurement. January 1, 2020 using the transition method prescribed for each applicable provision. Adoption of this ASU had no effect on the Company's financial condition, results of operations, or cash flows. The adoption resulted in various disclosure changes that have been included in Note 5, Fair Value Measurements . Standard Description of Requirements Effective Date and Method of Adoption Effect on the Financial Statements or Other Significant Matters ASU 2016-13, Measurement of Credit Losses on Financial Instruments This standard, issued in June 2016: • Introduces a new current expected credit loss ("CECL") model to measure impairment on certain types of financial instruments, • Requires an entity to estimate lifetime expected credit losses, under the new CECL model, based on relevant information about historical events, current conditions, and reasonable and supportable forecasts, • Modifies the impairment model for available-for-sale debt securities, and • Provides a simplified accounting model for purchased financial assets with credit deterioration since their origination. In addition, the FASB issued various amendments during 2018, 2019, and 2020 to clarify the provisions of ASU 2016-13. January 1, 2020, using the modified retrospective method for financial assets measured at amortized cost and the prospective method for available-for-sale debt securities. The Company recorded a $33 decrease, net of tax, to Unappropriated retained earnings as of a January 1, 2020 for the cumulative effect of adopting ASU 2016-13. The combined transition adjustment for continuing and discontinued operations includes recognition of an allowance for credit losses of $19 related to mortgage loans and $28 related to reinsurance recoverables, net of the effect of Deferred policy acquisition costs and Value of business acquired of $5 and deferred income taxes of $9. The provisions that required prospective adoption had no effect on the Company's financial condition, results of operations, or cash flows. In addition, disclosures have been updated to reflect accounting policy changes made as a result of the implementation of ASU 2016-13. (See the Significant Accounting Policies section.) Comparative information has not been adjusted and continues to be reported under previously applicable U.S. GAAP. Future Adoption of Accounting Pronouncements Long-Duration Contracts In August 2018, the FASB issued ASU 2018-12, "Financial Services - Insurance (Topic 944) Targeted Improvements to the Accounting for Long-Duration Contracts" ("ASU 2018-12"), which changes the measurement and disclosures of insurance liabilities and deferred acquisition costs ("DAC") for long-duration contracts issued by insurers. In October 2019, the FASB voted to amend the effective date of ASU 2018-12 for public business entities that are required to file with the SEC to fiscal years beginning after December 15, 2021, including interim periods, with early adoption permitted. The Company is currently in the process of evaluating the provisions of ASU 2018-12. While it is not possible to estimate the expected impact of adoption at this time, the Company believes there is a reasonable possibility that implementation of ASU 2018-12 may result in a significant impact on Shareholders’ equity and future earnings patterns. In addition to requiring significantly expanded interim and annual disclosures regarding long-duration insurance contract assets and liabilities, ASU 2018-12's provisions include modifications to the accounting for such contracts in the following areas: ASU 2018-12 Subject Area Description of Requirements Transition Provisions Effect on the Financial Statements or Other Significant Matters Assumptions used to measure the liability for future policy benefits for nonparticipating traditional and limited payment insurance contracts Requires insurers to review and, if necessary, update cash flow assumptions at least annually. The effect of updating cash flow assumptions will be measured on a retrospective catch-up basis and presented in the Statement of Operations in the period in which the update is made. The rate used to discount the liability for future policy benefits will be required to be updated quarterly, with related changes in the liability recorded in AOCI. The discount rate will be based on an upper-medium grade fixed-income corporate instrument yield reflecting the duration characteristics of the relevant liabilities. Initial adoption is required to be reported using either a full retrospective or modified retrospective approach. Under either method, upon adoption the liability for future policy benefits will be remeasured using current discount rates as of the beginning of the earliest period presented with the impact recorded as a cumulative effect adjustment to AOCI. The application of periodic assumption updates for nonparticipating traditional and limited payment insurance contracts is significantly different from the current accounting approach for such liabilities, which is based on assumptions that are locked in at contract inception unless a premium deficiency occurs. Under the current accounting guidance, the liability discount rate is based on expected yields on the underlying investment portfolio held by the insurer. The implications of these requirements, including transition options, and related potential financial statement impacts are currently being evaluated. Measurement of market risk benefits Creates a new category of benefit features called market risk benefits, defined as features that protect contract holders from capital market risk and expose the insurers to that risk. Market risk benefits will be required to be measured at fair value, with changes in fair value recognized in the Statement of Operations, except for changes in fair value attributable to changes in the instrument-specific credit risk, which will be recorded in AOCI. Full retrospective application is required. Upon adoption, any difference between the fair value and pre-adoption carrying value of market risk benefits not currently measured at fair value will be recorded to retained earnings. In addition, the cumulative effect of changes in instrument-specific credit risk will be reclassified from retained earnings to AOCI. Under the current accounting guidance, certain features that are expected to meet the definition of market risk benefits are accounted for as either insurance liabilities or embedded derivatives. The implications of these requirements and related potential financial statement impacts are currently being evaluated. ASU 2018-12 Subject Area Description of Requirements Transition Provisions Effect on the Financial Statements or Other Significant Matters Amortization of DAC and other balances Requires DAC (and other balances that refer to the DAC model, such as deferred sales inducement costs and unearned revenue liabilities) for all long-duration contracts to be measured on a constant level basis over the expected life of the contract. Initial adoption is required to be reported using either a full retrospective or modified retrospective approach. The method of transition applied for DAC and other balances must be consistent with the transition method selected for future policy benefit liabilities, as described above. This approach is intended to approximate straight-line amortization and cannot be based on revenue or profits as it is under the current accounting model. Related amounts in AOCI will be eliminated upon adoption. ASU 2018-12 did not change the existing accounting guidance related to value of business acquired ("VOBA") and net cost of reinsurance, which allows, but does not require, insurers to amortize such balances on a basis consistent with DAC. The implications of these requirements, including transition options, and related potential financial statement impacts are currently being evaluated. The following table provides a description of future adoptions of other new accounting standards that may have an impact on the Company's financial statements when adopted: Standard Description of Requirements Effective date and transition provisions Effect on the financial statements or other significant matters ASU 2020-04, Reference Rate Reform This standard, issued in March 2020, provides temporary optional expedients and exceptions The amendments are effective as of March 12, 2020, the issuance date of the ASU. An entity may elect to apply the amendments prospectively The Company expects that it will elect to apply some of the expedients and exceptions provided in ASU 2020-04; however, the Company is still evaluating the guidance, and therefore, the impact of the adoption of ASU 2020-04 on the Company’s financial condition and results of operations has not yet been determined. ASU 2019-12, Simplifying the Accounting for Income Taxes This standard, issued in December 2019, simplifies the accounting for income taxes by eliminating certain exceptions to the general principles and simplifying several aspects of ASC 740, Income taxes, including requirements related to the following: • The intraperiod tax allocation exception to the incremental approach, • The tax basis step-up in goodwill obtained in a transaction that is not a business combination, • Hybrid tax regimes, • Ownership changes in investments - changes from a subsidiary to an equity method investment, • Separate financial statements of entities not subject to tax, • Interim-period accounting for enacted changes in tax law, and • The year-to-date loss limitation in interim-period tax accounting. January 1, 2021 with early adoption permitted. Early adoption in an interim period must reflect any adjustments as of the beginning of the annual period. Initial adoption of ASU 2019-12 is required to be reported on a prospective basis, except for certain provisions that are required to be applied retrospectively or modified retrospectively. The Company is currently in the process of determining the impact of adoption of the provisions of ASU 2019-12. ASU 2018-14, Changes to the Disclosure Requirements for Defined Benefit Plans This standard, issued in August 2018, eliminates certain disclosure requirements that are no longer considered cost beneficial and requires new disclosures that are considered relevant. December 31, 2020 with early adoption permitted. Initial adoption of ASU 2018-14 is required to be reported on a retrospective basis for all periods presented. The Company is currently in the process of determining the impact of adoption of the provisions of ASU 2018-14.
Derivatives	The Company enters into the following types of derivatives: Interest rate caps and floors: The Company uses interest rate cap contracts to hedge the interest rate exposure arising from duration mismatches between assets and liabilities. Interest rate caps are also used to hedge interest rate exposure if rates rise above a specified level. The Company uses interest rate floor contracts to hedge interest rate exposure if rates decrease below a specified level. The Company pays an upfront premium to purchase these caps and floors. The Company utilizes these contracts in non-qualifying hedging relationships. Interest rate swaps: Interest rate swaps are used by the Company primarily to reduce market risks from changes in interest rates and to alter interest rate exposure arising from mismatches between assets and/or liabilities. Interest rate swaps are also used to hedge the interest rate risk associated with the value of assets it owns or in an anticipation of acquiring them. Using interest rate swaps, the Company agrees with another party to exchange, at specified intervals, the difference between fixed rate and floating rate interest payments, calculated by reference to an agreed upon notional principal amount. These transactions are entered into pursuant to master agreements that provide for a single net payment to be made to/from the counterparty at each due date. The Company utilizes these contracts in qualifying hedging relationships as well as non-qualifying hedging relationships. Foreign exchange swaps: The Company uses foreign exchange or currency swaps to reduce the risk of change in the value, yield or cash flows associated with certain foreign denominated invested assets. Foreign exchange swaps represent contracts that require the exchange of foreign currency cash flows against U.S. dollar cash flows at regular periods, typically quarterly or semi-annually. The Company utilizes these contracts in qualifying hedging relationships as well as non-qualifying hedging relationships. Credit default swaps: Credit default swaps are used to reduce credit loss exposure with respect to certain assets that the Company owns or to assume credit exposure on certain assets that the Company does not own. Payments are made to, or received from, the counterparty at specified intervals. In the event of a default on the underlying credit exposure, the Company will either receive a payment (purchased credit protection) or will be required to make a payment (sold credit protection) equal to the par minus recovery value of the swap contract. The Company utilizes these contracts in non-qualifying hedging relationships. Total return swaps: The Company uses total return swaps as a hedge against a decrease in variable annuity account values, which are invested in certain indices. Total return swaps are also used as a hedge of other corporate liabilities. Using total return swaps, the Company agrees with another party to exchange, at specified intervals, the difference between the economic risk and reward of assets or a market index and the London Interbank Offered Rates ("LIBOR") rate, calculated by reference to an agreed upon notional principal amount. No cash is exchanged at the onset of the contracts. Cash is paid and received over the life of the contract based upon the terms of the swaps. The Company utilizes these contracts in non-qualifying hedging relationships. Currency forwards: The Company utilizes currency forward contracts to hedge currency exposure related to its invested assets. The Company utilizes these contracts in non-qualifying hedging relationships. Forwards: The Company uses forward contracts to hedge certain invested assets against movement in interest rates, particularly mortgage rates. The Company uses To Be Announced mortgage-backed securities as an economic hedge against rate movements. The Company utilizes forward contracts in non-qualifying hedging relationships. Futures: Futures contracts are used to hedge against a decrease in certain equity indices. Such decreases may correlate to a decrease in variable annuity account values which would increase the possibility of the Company incurring an expense for guaranteed benefits in excess of account values. The Company also uses interest rate futures contracts to hedge its exposure to market risks due to changes in interest rates. The Company enters into exchange traded futures with regulated futures commissions that are members of the exchange. The Company also posts initial and variation margins, with the exchange, on a daily basis. The Company utilizes exchange-traded futures in non-qualifying hedging relationships. The Company may also use futures contracts as a hedge against an increase in certain equity indices. Swaptions: A swaption is an option to enter into a swap with a forward starting effective date. The Company uses swaptions to hedge the interest rate exposure associated with the minimum crediting rate and book value guarantees embedded in the retirement products that the Company offers. Increases in interest rates will generate losses on assets that are backing such liabilities. In certain instances, the Company locks in the economic impact of existing purchased swaptions by entering into offsetting written swaptions. The Company pays a premium when it purchases the swaption. The Company utilizes these contracts in non-qualifying hedging relationships. Options: The Company uses equity options to hedge against an increase in various equity indices. Such increases may result in increased payments to the holders of the fixed-index annuity ("FIA") and indexed universal life ("IUL") contracts. The Company pays an upfront premium to purchase these options. The Company utilizes these options in non-qualifying hedging relationships. Currency Options: The Company uses currency option contracts to hedge currency exposure related to its invested assets. The Company utilizes these contracts in non-qualifying hedging relationships. Managed custody guarantees ("MCGs"): The Company issues certain credited rate guarantees on variable fixed income portfolios that represent stand-alone derivatives. The market value is partially determined by, among other things, levels of or changes in interest rates, prepayment rates and credit ratings/spreads. Embedded derivatives: The Company also invests in certain fixed maturity instruments and has issued certain products that contain embedded derivatives for which market value is at least partially determined by, among other things, levels of or changes in domestic and/or foreign interest rates (short-term or long-term), exchange rates, prepayment rates, equity rates or credit ratings/spreads. In addition, the Company has entered into coinsurance with funds withheld arrangements, which contain embedded derivatives.
Fair Value of Financial Instruments	The following table presents the classifications of financial instruments which are not carried at fair value on the Condensed Consolidated Balance Sheets: Financial Instrument Classification Mortgage loans on real estate Level 3 Policy loans Level 2 Other investments Level 2 Funding agreements without fixed maturities and deferred annuities Level 3 Funding agreements with fixed maturities Level 2 Supplementary contracts and immediate annuities Level 3 Short-term debt and Long-term debt Level 2 Notes Payable Level 2
Income Tax

Business Held for Sale and Di_2

Business Held for Sale and Discontinued Operations (Tables)	3 Months Ended
	Mar. 31, 2020
Discontinued Operations and Disposal Groups [Abstract]
Information Related to Businesses Held for Sale and Discontinued Operations	The following table summarizes the major categories of assets and liabilities classified as held for sale related to the Individual Life Transaction in the accompanying Condensed Consolidated Balance Sheets as of March 31, 2020 and December 31, 2019 : March 31, 2020 December 31, 2019 Assets: Investments: Fixed maturities, available-for-sale, at fair value $ 11,097 $ 11,483 Fixed maturities, at fair value using the fair value option 747 752 Mortgage loans on real estate, net of allowance for credit losses of $3 as of 2020 1,306 1,319 Policy loans 1,006 1,005 Derivatives 148 304 Other investments (1) 423 430 Securities pledged 209 235 Total investments 14,936 15,528 Cash and cash equivalents 279 291 Short-term investments under securities loan agreements, including collateral delivered 191 216 Premium receivable and reinsurance recoverable, net allowance for credit losses of $13 as of 2020 3,102 3,101 Deferred policy acquisition costs and Value of business acquired 771 607 Current income taxes 136 136 Deferred income taxes (664 ) (757 ) Other assets (2) 441 570 Assets held in separate accounts 1,212 1,485 Write-down of businesses held for sale to fair value less cost to sell (1,271 ) (1,108 ) Total assets held for sale $ 19,133 $ 20,069 Liabilities: Future policy benefits and contract owner account balances $ 15,389 $ 15,472 Payables under securities loan and repurchase agreements, including collateral held 265 428 Derivatives 58 77 Notes payable 252 252 Other liabilities 796 784 Liabilities related to separate accounts 1,212 1,485 Total liabilities held for sale $ 17,972 $ 18,498 (1) Includes Other investments, Equity securities, Limited Partnerships/corporations and Short-term investments. (2) Includes Other assets and Accrued investment income. The following table summarizes the components of Income (loss) from discontinued operations, net of tax related to the Individual Life Transaction for the three months ended March 31, 2020 and 2019 : Three Months Ended March 31, 2020 2019 Revenues: Net investment income $ 169 $ 157 Fee income 174 187 Premiums 7 7 Total net realized capital gains (losses) (26 ) 29 Other revenue (2 ) — Total revenues 322 380 Benefits and expenses: Interest credited and other benefits to contract owners/policyholders 238 251 Operating expenses 26 24 Net amortization of Deferred policy acquisition costs and Value of business acquired 12 29 Interest expense 2 2 Total benefits and expenses 278 306 Income (loss) from discontinued operations before income taxes 44 74 Income tax expense (benefit) 9 15 Loss on sale, net of tax (163 ) — Income (loss) from discontinued operations, net of tax $ (128 ) $ 59 The following table presents summary information related to income (loss) from discontinued operations for the periods presented: Three Months Ended March 31, 2020 2019 Income (loss) from discontinued operations, net of tax Individual Life Transaction $ (128 ) $ 59 2018 Transaction — (79 ) Total $ (128 ) $ (20 )

Investments (excluding Consol_2

Investments (excluding Consolidated Investment Entities) (Tables)	3 Months Ended
	Mar. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Marketable Securities	Available-for-sale and fair value option ("FVO") fixed maturities were as follows as of March 31, 2020 : Amortized Cost Gross Unrealized Capital Gains Gross Unrealized Capital Losses Embedded Derivatives (2) Fair Value Allowance for credit losses Fixed maturities: U.S. Treasuries $ 1,076 $ 519 $ — $ — $ 1,595 $ — U.S. Government agencies and authorities 73 27 — — 100 — State, municipalities and political subdivisions 1,213 105 3 — 1,315 — U.S. corporate public securities 12,721 1,537 302 — 13,956 — U.S. corporate private securities 5,519 254 130 — 5,643 — Foreign corporate public securities and foreign governments (1) 3,875 251 120 — 4,006 — Foreign corporate private securities (1) 4,522 87 189 — 4,416 4 Residential mortgage-backed securities 5,515 227 162 27 5,607 — Commercial mortgage-backed securities 3,629 186 330 — 3,484 1 Other asset-backed securities 2,083 9 218 — 1,872 2 Total fixed maturities, including securities pledged 40,226 3,202 1,454 27 41,994 7 Less: Securities pledged 1,416 201 62 — 1,555 — Total fixed maturities $ 38,810 $ 3,001 $ 1,392 $ 27 $ 40,439 $ 7 (1) Primarily U.S. dollar denominated. (2) Embedded derivatives within fixed maturity securities are reported with the host investment. The changes in fair value of embedded derivatives are reported in Other net realized capital gains (losses) in the Condensed Consolidated Statements of Operations. Available-for-sale and FVO fixed maturities were as follows as of December 31, 2019 : Amortized Cost Gross Unrealized Capital Gains Gross Unrealized Capital Losses Embedded Derivatives (2) Fair Value OTTI (3)(4) Fixed maturities: U.S. Treasuries $ 1,074 $ 308 $ — $ — $ 1,382 $ — U.S. Government agencies and authorities 74 21 — — 95 — State, municipalities and political subdivisions 1,220 103 — — 1,323 — U.S. corporate public securities 12,980 1,977 19 — 14,938 — U.S. corporate private securities 5,568 488 21 — 6,035 — Foreign corporate public securities and foreign governments (1) 3,887 460 6 — 4,341 — Foreign corporate private securities (1) 4,545 288 2 — 4,831 — Residential mortgage-backed securities 4,999 200 14 19 5,204 5 Commercial mortgage-backed securities 3,402 176 4 — 3,574 — Other asset-backed securities 2,058 22 25 — 2,055 1 Total fixed maturities, including securities pledged 39,807 4,043 91 19 43,778 6 Less: Securities pledged 1,264 154 10 — 1,408 — Total fixed maturities $ 38,543 $ 3,889 $ 81 $ 19 $ 42,370 $ 6 (1) Primarily U.S. dollar denominated. (2) Embedded derivatives within fixed maturity securities are reported with the host investment. The changes in fair value of embedded derivatives are reported in Other net realized capital gains (losses) in the Condensed Consolidated Statements of Operations. (3) Represents OTTI reported as a component of Other comprehensive income (loss). (4) Amount excludes $336 of net unrealized gains on impaired available-for-sale securities.
Investments Classified by Contractual Maturity Date	The amortized cost and fair value of fixed maturities, including securities pledged, as of March 31, 2020 , are shown below by contractual maturity. Actual maturities may differ from contractual maturities as securities may be restructured, called or prepaid. Mortgage-backed securities ("MBS") and Other asset-backed securities ("ABS") are shown separately because they are not due at a single maturity date. Amortized Cost Fair Value Due to mature: One year or less $ 1,224 $ 1,227 After one year through five years 5,035 5,019 After five years through ten years 7,998 8,117 After ten years 14,742 16,668 Mortgage-backed securities 9,144 9,091 Other asset-backed securities 2,083 1,872 Fixed maturities, including securities pledged $ 40,226 $ 41,994
U.S. and Foreign Corporate Securities by Industry	The following tables present the composition of the U.S. and foreign corporate securities within the fixed maturity portfolio by industry category as of the dates indicated: Amortized Cost Gross Unrealized Capital Gains Gross Unrealized Capital Losses Fair Value March 31, 2020 Communications $ 1,653 $ 227 $ 6 $ 1,874 Financial 4,013 365 46 4,332 Industrial and other companies 11,511 973 248 12,236 Energy 2,692 103 294 2,501 Utilities 4,921 358 77 5,202 Transportation 1,209 63 49 1,223 Total $ 25,999 $ 2,089 $ 720 $ 27,368 December 31, 2019 Communications $ 1,694 $ 295 $ — $ 1,989 Financial 4,067 535 1 4,601 Industrial and other companies 11,669 1,274 16 12,927 Energy 2,819 368 27 3,160 Utilities 4,895 561 1 5,455 Transportation 1,206 116 2 1,320 Total $ 26,350 $ 3,149 $ 47 $ 29,452
Schedule of Securities Borrowed Under Securities Lending Transactions	The following table presents borrowings under securities lending transactions by asset class pledged as of the dates indicated: March 31, 2020 (1)(2) December 31, 2019 (1)(2) U.S. Treasuries $ 204 $ 213 U.S. Government agencies and authorities 50 15 U.S. corporate public securities 729 684 Foreign corporate public securities and foreign governments 322 289 Payables under securities loan agreements $ 1,305 $ 1,201 (1) As of March 31, 2020 and December 31, 2019 , borrowings under securities lending transactions include cash collateral of $1,179 and $1,055 , respectively. (2) As of March 31, 2020 and December 31, 2019 , borrowings under securities lending transactions include non-cash collateral of $126 and $146 , respectively.
Financing Receivable, Allowance for Credit Loss	The following table presents a rollforward of the allowance for credit losses on available-for-sale fixed maturity securities for the period presented: Three Months Ended March 31, 2020 Residential mortgage-backed securities Commercial mortgage-backed securities Foreign corporate private securities Other asset-backed securities Total Balance as of January 1 $ — $ — $ — $ — $ — Credit losses on securities for which credit losses were not previously recorded — 1 4 2 7 Initial allowance for credit losses recognized on financial assets accounted for as PCD — — — — — Reductions for securities sold during the period — — — — — Reductions for intent to sell or more likely than not will be required to sell securities prior to recovery of amortized cost — — — — — Increase (decrease) on securities with allowance recorded in previous period — — — — — Write-offs — — — — — Recoveries of amounts previously written off — — — — — Balance as of March 31 $ — $ 1 $ 4 $ 2 $ 7
Schedule of Unrealized Loss on Investments	The following table presents available-for-sale fixed maturities, including securities pledged, for which an allowance for credit losses has not been recorded by market sector and duration as of the date indicated: Twelve Months or Less Below Amortized Cost More Than Twelve Months Below Amortized Cost Total Fair Value Unrealized Capital Losses Number of securities Fair Value Unrealized Capital Losses Number of securities Fair Value Unrealized Capital Losses Number of securities March 31, 2020 State, municipalities and political subdivisions $ 66 $ 3 22 $ 1 $ — 1 $ 67 $ 3 23 U.S. corporate public securities 2,350 288 452 30 14 8 2,380 302 460 U.S. corporate private securities 1,362 89 110 116 41 11 1,478 130 121 Foreign corporate public securities and foreign governments 1,078 112 224 37 8 8 1,115 120 232 Foreign corporate private securities 2,100 178 144 52 11 6 2,152 189 150 Residential mortgage-backed 1,870 145 357 130 17 77 2,000 162 434 Commercial mortgage-backed 1,836 330 307 — — — 1,836 330 307 Other asset-backed 1,217 148 283 336 70 116 1,553 218 399 Total $ 11,879 $ 1,293 1,899 $ 702 $ 161 227 $ 12,581 $ 1,454 2,126 The Company concluded that an allowance for credit losses was unnecessary for these securities because the unrealized losses are interest rate related. Unrealized capital losses (including noncredit impairments), along with the fair value of fixed maturity securities, including securities pledged, by market sector and duration were as follows as of December 31, 2019 : Twelve Months or Less More Than Twelve Months Below Amortized Cost Total Fair Value Unrealized Capital Losses Fair Value Unrealized Capital Losses Fair Value Unrealized Capital Losses U.S. Treasuries $ 2 $ — * $ 21 $ — * $ 23 $ — * State, municipalities and political subdivisions 25 — * 1 — * 26 — * U.S. corporate public securities 122 3 199 16 321 19 U.S. corporate private securities 113 1 195 20 308 21 Foreign corporate public securities and foreign governments 15 — * 103 6 118 6 Foreign corporate private securities 36 — * 78 2 114 2 Residential mortgage-backed 730 8 194 6 924 14 Commercial mortgage-backed 472 4 18 — * 490 4 Other asset-backed 308 5 641 20 949 25 Total $ 1,823 $ 21 $ 1,450 $ 70 $ 3,273 $ 91 Total number of securities in an unrealized loss position 334 338 672 *Less than $1.
Other than Temporary Impairment, Credit Losses Recognized in Earnings	The following table identifies the Company's impairments included in the Condensed Consolidated Statements of Operations, excluding impairments included in Other comprehensive income (loss) by type for the periods indicated: Three Months Ended March 31, 2020 2019 Impairment No. of Securities Impairment No. of Securities U.S. corporate public securities $ 19 2 $ — — Foreign corporate private securities (1) — — 25 3 Residential mortgage-backed 1 8 — * 15 Commercial mortgage-backed — 1 — — Other asset-backed — — 1 2 Total $ 20 11 $ 26 20 Credit Impairments $ — $ 26 Intent Impairments $ 20 $ — (1) Primarily U.S. dollar denominated. *Less than $1
Mortgage Loans by Loan to Value Ratio	The following tables present commercial mortgage loans by year of origination and LTV ratio as of the dates indicated. The information is updated as of March 31, 2020 and December 31, 2019 , respectively. As of March 31, 2020 Loan-to-Value Ratios Year of Origination 0% - 50% >50% - 60% >60% - 70% >70% - 80% >80% and above Total 2020 $ 55 $ 144 $ 28 $ — $ — $ 227 2019 389 208 99 15 — 711 2018 206 168 97 — — 471 2017 699 434 18 — — 1,151 2016 630 321 15 — — 966 2015 610 189 — — — 799 2014 and prior 1,913 700 31 — — 2,644 Total $ 4,502 $ 2,164 $ 288 $ 15 $ — $ 6,969 As of December 31, 2019 Loan-to-Value Ratios Year of Origination 0% - 50% >50% - 60% >60% - 70% >70% - 80% >80% and above Total 2020 $ — $ — $ — $ — $ — $ — 2019 121 138 227 211 26 723 2018 11 141 188 159 14 513 2017 153 283 697 12 15 1,160 2016 122 221 579 50 — 972 2015 39 502 248 15 — 804 2014 and prior 241 438 1,771 256 1 2,707 Total $ 687 $ 1,723 $ 3,710 $ 703 $ 56 $ 6,879
Mortgage Loans by Debt Service Coverage Ratio	The following tables present commercial mortgage loans by year of origination and DSC ratio as of the dates indicated. The information is updated as of March 31, 2020 and December 31, 2019 , respectively. As of March 31, 2020 Debt Service Coverage Ratios Year of Origination >1.5x >1.25x - 1.5x >1.0x - 1.25x <1.0x Commercial mortgage loans secured by land or construction loans Total 2020 $ 167 $ 35 $ 25 $ — $ — $ 227 2019 540 106 65 — — 711 2018 319 13 98 41 — 471 2017 623 272 176 80 — 1,151 2016 864 68 30 4 — 966 2015 744 49 6 — — 799 2014 and prior 2,232 218 123 71 — 2,644 Total $ 5,489 $ 761 $ 523 $ 196 $ — $ 6,969 As of December 31, 2019 Debt Service Coverage Ratios Year of Origination >1.5x >1.25x - 1.5x >1.0x - 1.25x <1.0x Commercial mortgage loans secured by land or construction loans Total 2020 $ — $ — $ — $ — $ — $ — 2019 493 165 66 — — 724 2018 351 13 88 61 — 513 2017 608 292 167 93 — 1,160 2016 873 63 31 4 — 971 2015 743 50 6 6 — 805 2014 and prior 2,265 210 139 92 — 2,706 Total $ 5,333 $ 793 $ 497 $ 256 $ — $ 6,879
Mortgage Loans by Geographic Location of Collateral	The following tables present the commercial mortgage loans by year of origination and U.S. region as of the dates indicated. The information is updated as of March 31, 2020 and December 31, 2019 , respectively. As of March 31, 2020 U.S. Region Year of Origination Pacific South Atlantic Middle Atlantic West South Central Mountain East North Central New England West North Central East South Central Total 2020 $ 32 $ 124 $ 17 $ 23 $ 15 $ 8 $ — $ — $ 8 $ 227 2019 99 201 20 189 68 64 18 14 38 711 2018 106 156 72 47 60 16 — 14 — 471 2017 176 127 458 170 106 63 6 45 — 1,151 2016 276 180 191 46 106 119 14 28 6 966 2015 223 217 171 42 54 68 12 12 — 799 2014 and prior 718 541 386 212 272 237 66 167 45 2,644 Total $ 1,630 $ 1,546 $ 1,315 $ 729 $ 681 $ 575 $ 116 $ 280 $ 97 $ 6,969 As of December 31, 2019 U.S. Region Year of Origination Pacific South Atlantic Middle Atlantic West South Central Mountain East North Central New England West North Central East South Central Total 2020 $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — 2019 100 200 35 187 67 63 18 15 37 722 2018 106 182 73 47 60 16 — 14 15 513 2017 177 128 464 171 107 63 6 45 — 1,161 2016 277 181 193 47 107 119 14 28 6 972 2015 226 218 171 43 54 68 12 12 — 804 2014 and prior 741 553 390 224 275 242 67 169 46 2,707 Total $ 1,627 $ 1,462 $ 1,326 $ 719 $ 670 $ 571 $ 117 $ 283 $ 104 $ 6,879
Mortgage Loans by Property Type of Collateral	The following tables present the commercial mortgage loans by year of origination and property type as of the dates indicated. The information is updated as of March 31, 2020 and December 31, 2019 , respectively. As of March 31, 2020 Property Type Year of Origination Retail Industrial Apartments Office Hotel/Motel Other Mixed Use Total 2020 $ 49 $ 9 $ 116 $ 53 $ — $ — $ — $ 227 2019 55 130 388 105 33 — — 711 2018 78 121 206 26 4 36 — 471 2017 141 550 267 189 4 — — 1,151 2016 178 309 262 192 10 9 6 966 2015 198 283 131 89 30 68 — 799 2014 and prior 1,194 223 485 371 107 208 56 2,644 Total $ 1,893 $ 1,625 $ 1,855 $ 1,025 $ 188 $ 321 $ 62 $ 6,969 As of December 31, 2019 Property Type Year of Origination Retail Industrial Apartments Office Hotel/Motel Other Mixed Use Total 2020 $ — $ — $ — $ — $ — $ — $ — $ — 2019 55 130 400 105 32 — — 722 2018 83 122 221 46 4 36 — 512 2017 142 557 268 190 4 — — 1,161 2016 179 312 263 192 10 10 6 972 2015 198 285 133 90 30 69 — 805 2014 and prior 1,216 230 512 376 108 209 56 2,707 Total $ 1,873 $ 1,636 $ 1,797 $ 999 $ 188 $ 324 $ 62 $ 6,879
Allowance for Credit Losses on Financing Receivables	The following table summarizes the activity in the allowance for losses for commercial mortgage loans for the periods indicated: March 31, 2020 Allowance for credit losses, balance at January 1 $ 16 Credit losses on mortgage loans for which credit losses were not previously recorded 1 Initial allowance for credit losses recognized on financial assets accounted for as PCD — Increase (decrease) on mortgage loans with allowance recorded in previous period 5 Provision for expected credit losses 22 Writeoffs — Recoveries of amounts previously written off — Allowance for credit losses, end of period $ 22
Financing Receivable, Past Due	The following table presents past due commercial mortgage loans as of the dates indicated: March 31, 2020 December 31, 2019 Delinquency: Current $ 6,969 $ 6,879 30-59 days past due — — 60-89 days past due — — Greater than 90 days past due — — Total $ 6,969 $ 6,879
Net Investment Income	The following table summarizes Net investment income for the periods indicated: Three Months Ended March 31, 2020 2019 Fixed maturities $ 571 $ 555 Equity securities 3 3 Mortgage loans on real estate 74 79 Policy loans 11 11 Short-term investments and cash equivalents 2 4 Other 55 23 Gross investment income 716 675 Less: investment expenses 18 17 Net investment income $ 698 $ 658
Realized Gain (Loss) on Investments	Net realized capital gains (losses) were as follows for the periods indicated: Three Months Ended March 31, 2020 2019 Fixed maturities, available-for-sale, including securities pledged $ (36 ) $ (23 ) Fixed maturities, at fair value option 33 67 Equity securities (10 ) 5 Derivatives (30 ) (64 ) Embedded derivatives - fixed maturities 8 1 Guaranteed benefit derivatives (193 ) 5 Mortgage Loans (5 ) — Other investments — (3 ) Net realized capital gains (losses) $ (233 ) $ (12 )
Gain (Loss) on Investments	Proceeds from the sale of fixed maturities, available-for-sale, and equity securities and the related gross realized gains and losses, before tax, were as follows for the periods indicated: Three Months Ended March 31, 2020 2019 Proceeds on sales $ 467 $ 1,589 Gross gains 11 22 Gross losses 20 24

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Notional Amounts of Outstanding Derivative Positions	The notional amounts and fair values of derivatives from continuing operations, including amounts related to businesses to be exited via reinsurance associated with the Individual Life Transaction, were as follows as of the dates indicated: March 31, 2020 December 31, 2019 Notional Amount Asset Fair Value Liability Fair Value Notional Asset Liability Derivatives: Qualifying for hedge accounting (1) Cash flow hedges: Interest rate contracts $ 30 $ — $ — $ 30 $ — $ — Foreign exchange contracts 772 83 — 771 12 21 Derivatives: Non-qualifying for hedge accounting (1) Interest rate contracts 26,856 783 1,038 25,027 294 371 Foreign exchange contracts 151 5 — 92 — 1 Equity contracts 446 4 28 400 10 8 Credit contracts 235 — 2 237 — 2 Embedded derivatives and Managed custody guarantees: Within fixed maturity investments N/A 27 — N/A 19 — Within products N/A — 227 N/A — 60 Within reinsurance agreements N/A — 52 N/A — 100 Managed custody guarantees N/A — 26 N/A — — Total $ 902 $ 1,373 $ 335 $ 563 (1) Open derivative contracts are reported as Derivatives assets or liabilities on the Condensed Consolidated Balance Sheets at fair value. N/A - Not Applicable The notional amounts and fair values of derivatives for businesses held for sale were as follows as of the dates indicated: March 31, 2020 December 31, 2019 Notional Amount Asset Fair Value Liability Fair Value Notional Asset Liability Derivatives: Qualifying for hedge accounting (1) Cash flow hedges: Interest rate contracts $ 1 $ — $ — $ 1 $ — $ — Foreign exchange contracts 19 4 — 19 1 1 Derivatives: Non-qualifying for hedge accounting (1) Interest rate contracts 2,212 50 55 2,227 49 56 Foreign exchange contracts 31 1 — 18 — — Equity contracts 1,821 93 3 1,753 254 20 Embedded derivatives and Managed custody guarantees: Within fixed maturity investments N/A 11 — N/A 8 — Within products N/A — 82 N/A — 217 Within reinsurance agreements N/A — 58 N/A — 75 Total $ 159 $ 198 $ 312 $ 369 (1) Open derivative contracts are reported as Derivatives assets or liabilities on the Condensed Consolidated Balance Sheets at fair value. N/A - Not Applicable
Offsetting Assets and Liabilities	Although the Company has not elected to net its derivative exposures, the notional amounts and fair values of Over-The-Counter ("OTC") and cleared derivatives excluding exchange traded contracts for continuing operations and businesses held for sale are presented in the tables below as of the dates indicated: March 31, 2020 Continuing operations: (1) Notional Amount Asset Fair Value Liability Fair Value Credit contracts $ 235 $ — $ 2 Equity contracts 290 3 28 Foreign exchange contracts 923 88 — Interest rate contracts 25,368 782 1,037 873 1,067 Counterparty netting (2) (715 ) (715 ) Cash collateral netting (2) (151 ) (351 ) Securities collateral netting (2) (5 ) — Net receivables/payables $ 2 $ 1 (1) Includes amounts related to businesses to be exited via reinsurance associated with the Individual Life Transaction, (2) Represents the netting of receivable balances with payable balances, net of collateral, for the same counterparty under eligible netting agreements. March 31, 2020 Businesses held for sale: Notional Amount Asset Fair Value Liability Fair Value Credit contracts $ — $ — $ — Equity contracts 1,821 93 3 Foreign exchange contracts 50 5 — Interest rate contracts 2,213 50 55 148 58 Counterparty netting (1) (56 ) (56 ) Cash collateral netting (1) (73 ) (2 ) Securities collateral netting (1) (9 ) — Net receivables/payables $ 10 $ — (1) Represents the netting of receivable balances with payable balances, net of collateral, for the same counterparty under eligible netting agreements. December 31, 2019 Continuing operations: (1) Notional Amount Asset Fair Value Liability Fair Value Credit contracts $ 237 $ — $ 2 Equity contracts 293 9 7 Foreign exchange contracts 863 12 22 Interest rate contracts 23,634 295 371 316 402 Counterparty netting (2) (290 ) (290 ) Cash collateral netting (2) (25 ) (100 ) Securities collateral netting (2) — (5 ) Net receivables/payables $ 1 $ 7 (1) Includes amounts related to businesses to be exited via reinsurance associated with the Individual Life Transaction, (2) Represents the netting of receivable balances with payable balances, net of collateral, for the same counterparty under eligible netting agreements. December 31, 2019 Businesses held for sale: Notional Amount Asset Fair Value Liability Fair Value Credit contracts $ — $ — $ — Equity contracts 1,753 254 20 Foreign exchange contracts 37 1 1 Interest rate contracts 2,228 49 56 304 77 Counterparty netting (1) (76 ) (76 ) Cash collateral netting (1) (206 ) — Securities collateral netting (1) (17 ) — Net receivables/payables $ 5 $ 1 (1) Represents the netting of receivable balances with payable balances, net of collateral, for the same counterparty under eligible netting agreements.
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance	The location and effect of derivatives qualifying for hedge accounting from continuing operations, including amounts related to businesses to be exited via reinsurance associated with the Individual Life Transaction, on the Condensed Consolidated Statements of Operations and Condensed Consolidated Statements of Comprehensive Income are as follows for the period indicated: Three Months Ended March 31, 2020 2019 Interest Rate Contracts Foreign Exchange Contracts Interest Rate Contracts Foreign Exchange Contracts Derivatives: Qualifying for hedge accounting Location of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income into Income Net investment income Net investment income Net investment income Net investment income Amount of Gain or (Loss) Recognized in Other Comprehensive Income $ 2 $ 92 $ 1 $ (9 ) Amount of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income — 3 — 3 The location and amount of gain (loss) recognized from continuing operations, including amounts related to businesses to be exited via reinsurance associated with the Individual Life Transaction, in the Condensed Consolidated Statements of Operations for derivatives qualifying for hedge accounting are as follows for the period indicated: Three Months Ended March 31, 2020 2019 Net Investment Income Other net realized capital gains/(losses) Net Investment Income Other net realized capital gains/(losses) Total amounts of line items presented in the statement of operations in which the effects of cash flow hedges are recorded $ 698 $ (213 ) $ 658 $ 14 Derivatives: Qualifying for hedge accounting Cash flow hedges: Foreign exchange contracts: Gain (loss) reclassified from accumulated other comprehensive income into income 3 — 3 — The location and effect of derivatives not designated as hedging instruments from continuing operations, including amounts related to businesses to be exited via reinsurance associated with the Individual Life Transaction, on the Condensed Consolidated Statements of Operations are as follows for the periods indicated: Location of Gain or (Loss) Recognized in Income on Derivative Three Months Ended March 31, 2020 2019 Derivatives: Non-qualifying for hedge accounting Interest rate contracts Other net realized capital gains (losses) $ (37 ) $ (52 ) Foreign exchange contracts Other net realized capital gains (losses) 7 2 Equity contracts Other net realized capital gains (losses) — (16 ) Credit contracts Other net realized capital gains (losses) 2 3 Embedded derivatives and Managed custody guarantees: Within fixed maturity investments Other net realized capital gains (losses) 8 1 Within products Other net realized capital gains (losses) (167 ) 4 Within reinsurance agreements Policyholder benefits 65 (59 ) Managed custody guarantees Other net realized capital gains (losses) (26 ) — Total $ (148 ) $ (117 ) The location and effect of derivatives not designated as hedging instruments from discontinued operations on the Condensed Consolidated Statements of Operations are as follows for the periods indicated: Location of Gain or (Loss) Recognized in Income on Derivative Three Months Ended March 31, 2020 2019 Derivatives: Non-qualifying for hedge accounting Foreign exchange contracts Income (loss) from discontinued operations, net of tax 1 — Equity contracts Income (loss) from discontinued operations, net of tax (153 ) 63 Credit contracts Income (loss) from discontinued operations, net of tax — 1 Embedded derivatives and Managed custody guarantees: Within fixed maturity investments Income (loss) from discontinued operations, net of tax 2 — Within products Income (loss) from discontinued operations, net of tax 145 (62 ) Total $ (5 ) $ 2

Fair Value Measurements (excl_2

Fair Value Measurements (excluding Consolidated Investment Entities) (Tables)	3 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The following table presents the Company's hierarchy for its assets and liabilities from continuing operations, including amounts related to businesses to be exited via reinsurance associated with the Individual Life Transaction, measured at fair value on a recurring basis as of March 31, 2020 : Level 1 Level 2 Level 3 Total Assets: Fixed maturities, including securities pledged: U.S. Treasuries $ 1,253 $ 342 $ — $ 1,595 U.S. Government agencies and authorities — 100 — 100 State, municipalities and political subdivisions — 1,315 — 1,315 U.S. corporate public securities — 13,890 66 13,956 U.S. corporate private securities — 4,352 1,291 5,643 Foreign corporate public securities and foreign governments (1) — 4,002 4 4,006 Foreign corporate private securities (1) — 4,139 277 4,416 Residential mortgage-backed securities — 5,577 30 5,607 Commercial mortgage-backed securities — 3,484 — 3,484 Other asset-backed securities — 1,785 87 1,872 Total fixed maturities, including securities pledged 1,253 38,986 1,755 41,994 Equity securities 57 — 119 176 Derivatives: Interest rate contracts 36 697 50 783 Foreign exchange contracts — 88 — 88 Equity contracts 2 2 — 4 Cash and cash equivalents, short-term investments and short-term investments under securities loan agreements 3,263 33 — 3,296 Assets held in separate accounts 61,851 6,945 141 68,937 Total assets $ 66,462 $ 46,751 $ 2,065 $ 115,278 Percentage of Level to total 58 % 40 % 2 % 100 % Liabilities: Derivatives: Guaranteed benefit derivatives (2) — — 253 253 Other derivatives: Interest rate contracts 2 986 50 1,038 Equity contracts — 28 — 28 Credit contracts — 2 — 2 Embedded derivative on reinsurance — 52 — 52 Total liabilities $ 2 $ 1,068 $ 303 $ 1,373 (1) Primarily U.S. dollar denominated. (2) Includes GMWBL, GMWB,FIA, Stabilizer and MCGs. The following table presents the Company's hierarchy for its assets and liabilities related to businesses held for sale measured at fair value on a recurring basis as of March 31, 2020 : Level 1 Level 2 Level 3 Total Assets: Fixed maturities, including securities pledged: U.S. Treasuries $ 534 $ 384 $ — $ 918 U.S. Government agencies and authorities — 173 — 173 State, municipalities and political subdivisions — 438 — 438 U.S. corporate public securities — 5,612 34 5,646 U.S. corporate private securities — 580 288 868 Foreign corporate public securities and foreign governments (1) — 1,362 3 1,365 Foreign corporate private securities (1) — 463 68 531 Residential mortgage-backed securities — 585 — 585 Commercial mortgage-backed securities — 983 — 983 Other asset-backed securities — 538 7 545 Total fixed maturities, including securities pledged 534 11,118 400 12,052 Equity securities 2 — 30 32 Derivatives: Interest rate contracts — 1 49 50 Foreign exchange contracts — 5 — 5 Equity contracts — 10 83 93 Cash and cash equivalents, short-term investments and short-term investments under securities loan agreements — — — — Assets held in separate accounts — — — — Total assets $ 536 $ 11,134 $ 562 $ 12,232 Percentage of Level to total 4 % 91 % 5 % 100 % Liabilities: Derivatives: Guaranteed benefit derivatives - IUL — — 82 82 Other derivatives: Interest rate contracts — 5 50 55 Equity contracts — 3 — 3 Credit contracts — — — — Embedded derivative on reinsurance — 58 — 58 Total liabilities $ — $ 66 $ 132 $ 198 (1) Primarily U.S. dollar denominated. The following table presents the Company's hierarchy for its assets and liabilities from continuing operations, including amounts related to businesses to be exited via reinsurance associated with the Individual Life Transaction, measured at fair value on a recurring basis as of December 31, 2019 : Level 1 Level 2 Level 3 Total Assets: Fixed maturities, including securities pledged: U.S. Treasuries $ 1,083 $ 299 $ — $ 1,382 U.S. Government agencies and authorities — 95 — 95 State, municipalities and political subdivisions — 1,323 — 1,323 U.S. corporate public securities — 14,864 74 14,938 U.S. corporate private securities — 4,578 1,457 6,035 Foreign corporate public securities and foreign governments (1) — 4,341 — 4,341 Foreign corporate private securities (1) — 4,503 328 4,831 Residential mortgage-backed securities — 5,181 23 5,204 Commercial mortgage-backed securities — 3,574 — 3,574 Other asset-backed securities — 1,977 78 2,055 Total fixed maturities, including securities pledged 1,083 40,735 1,960 43,778 Equity securities 68 — 128 196 Derivatives: Interest rate contracts 2 243 49 294 Foreign exchange contracts — 12 — 12 Equity contracts — 10 — 10 Cash and cash equivalents, short-term investments and short-term investments under securities loan agreements 2,613 31 — 2,644 Assets held in separate accounts 75,405 6,149 116 81,670 Total assets $ 79,171 $ 47,180 $ 2,253 $ 128,604 Percentage of Level to total 61 % 37 % 2 % 100 % Liabilities: Derivatives: Guaranteed benefit derivatives (2) — — 60 60 Other derivatives: Interest rate contracts — 322 49 371 Foreign exchange contracts — 22 — 22 Equity contracts — 8 — 8 Credit contracts — 2 — 2 Embedded derivative on reinsurance — 100 — 100 Total liabilities $ — $ 454 $ 109 $ 563 (1) Primarily U.S. dollar denominated. (2) Includes GMWBL, GMWB, FIA, Stabilizer and MCGs. The following table presents the Company's hierarchy for its assets and liabilities related to businesses held for sale measured at fair value on a recurring basis as of December 31, 2019 : Level 1 Level 2 Level 3 Total Assets: Fixed maturities, including securities pledged: U.S. Treasuries $ 472 $ 314 $ — $ 786 U.S. Government agencies and authorities — 161 — 161 State, municipalities and political subdivisions — 439 — 439 U.S. corporate public securities — 5,949 32 5,981 U.S. corporate private securities — 596 316 912 Foreign corporate public securities and foreign governments (1) — 1,490 7 1,497 Foreign corporate private securities (1) — 438 80 518 Residential mortgage-backed securities — 588 — 588 Commercial mortgage-backed securities — 995 — 995 Other asset-backed securities — 587 6 593 Total fixed maturities, including securities pledged 472 11,557 441 12,470 Equity securities 2 — 33 35 Derivatives: Interest rate contracts — — 49 49 Foreign exchange contracts — 1 — 1 Equity contracts — 52 202 254 Cash and cash equivalents, short-term investments and short-term investments under securities loan agreements 533 — — 533 Assets held in separate accounts 1,485 — — 1,485 Total assets $ 2,492 $ 11,610 $ 725 $ 14,827 Percentage of Level to total 17 % 78 % 5 % 100 % Liabilities: Derivatives: Guaranteed benefit derivatives - IUL $ — $ — $ 217 $ 217 Other derivatives: Interest rate contracts — 7 49 56 Foreign exchange contracts — 1 — 1 Equity contracts — 20 — 20 Embedded derivative on reinsurance — 75 — 75 Total liabilities $ — $ 103 $ 266 $ 369
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation	The following table summarizes the change in fair value of the Company's Level 3 assets and liabilities from continuing operations, including amounts related to businesses to be exited via reinsurance associated with the Individual Life Transaction, and transfers in and out of Level 3 for the period indicated: Three Months Ended March 31, 2020 Fair Value as of January 1 Total Realized/Unrealized Gains (Losses) Included in: Purchases Issuances Sales Settlements Transfers into Level 3 Transfers out of Level 3 Fair Value as of March 31 Change In Unrealized Gains (Losses) Included in Earnings (3) Change In (3) Net Income OCI Fixed maturities, including securities pledged: U.S. corporate public securities $ 74 $ — $ — $ — $ — $ — $ (3 ) $ — $ (5 ) $ 66 $ — $ — U.S. corporate private securities 1,457 1 (74 ) 46 — (3 ) (82 ) — (54 ) 1,291 — (74 ) Foreign corporate public securities and foreign governments (1) — — — 4 — — — — — 4 — — Foreign corporate private securities (1) 328 (3 ) (51 ) 3 — (4 ) — 10 (6 ) 277 — (51 ) Residential mortgage-backed securities 23 (2 ) — 17 — — — — (8 ) 30 (2 ) — Other asset-backed securities 78 — — 10 — — (1 ) — — 87 — — Total fixed maturities, including securities pledged 1,960 (4 ) (125 ) 80 — (7 ) (86 ) 10 (73 ) 1,755 (2 ) (125 ) Equity securities 128 (9 ) — — — — — — — 119 (9 ) — Derivatives: Guaranteed benefit derivatives (2)(5) (60 ) (193 ) — — — — — — — (253 ) — — Assets held in separate accounts (4) 116 (3 ) — 47 — (1 ) — — (18 ) 141 — — (1) Primarily U.S. dollar denominated. (2) All gains and losses on Level 3 liabilities are classified as realized gains (losses) for the purpose of this disclosure because it is impracticable to track realized and unrealized gains (losses) separately on a contract-by contract basis. These amounts are included in Other net realized gains (losses) in the Condensed Consolidated Statements of Operations. (3) For financial instruments still held as of March 31 amounts are included in Net investment income and Total net realized capital gains (losses) in the Condensed Consolidated Statements of Operations or Unrealized gains (losses) on securities in the Condensed Consolidated Statements of Comprehensive Income. (4) The investment income and realized gains (losses) and change in unrealized gains (losses) included in net income for separate account assets are offset by an equal amount for separate account liabilities, which results in a net zero impact on Net income (loss) for the Company. (5) Includes GMWBL, GMWB, FIA, Stabilizer and MCGs. The following table summarizes the change in fair value of the Company's Level 3 assets and liabilities related to businesses held for sale and transfers in and out of Level 3 for the period indicated: Three Months Ended March 31, 2020 Fair Value as of January 1 Total Realized/Unrealized Gains (Losses) Included in: Purchases Issuances Sales Settlements Transfers into Level 3 Transfers out of Level 3 Fair Value as of March 31 Change In (3) Change In (3) Net Income OCI Fixed maturities, including securities pledged: U.S. corporate public securities $ 32 $ — $ 2 $ 1 $ — $ — $ (1 ) $ — $ — $ 34 $ — $ 2 U.S. corporate private securities 316 — (17 ) 9 — — (10 ) — (10 ) 288 — (17 ) Foreign corporate public securities and foreign governments (1) 7 — (4 ) — — — — — — 3 — (4 ) Foreign corporate private securities (1) 80 — (13 ) 1 — — — — — 68 — (13 ) Residential mortgage-backed securities — — — — — — — — — — — — Other asset-backed securities 6 — — 2 — — (1 ) — — 7 — — Total fixed maturities, including securities pledged 441 — (32 ) 13 — — (12 ) — (10 ) 400 — (32 ) Equity securities 33 (3 ) — — — — — — — 30 (3 ) — Derivatives: Guaranteed benefit derivatives - IUL (2) (217 ) 145 — — (16 ) — 7 — — (81 ) — — Other derivatives, net 202 (127 ) — 14 — — (6 ) — — 83 (119 ) — (1) Primarily U.S. dollar denominated. (2) All gains and losses on Level 3 liabilities are classified as realized gains (losses) for the purpose of this disclosure because it is impracticable to track realized and unrealized gains (losses) separately on a contract-by contract basis. (3) For financial instruments still held as of March 31 amounts are included in Income (loss) from discontinued operations, net of tax in the Condensed Consolidated Statements of Operations or Unrealized gains (losses) on securities in the Condensed Consolidated Statements of Comprehensive Income. The following table summarizes the change in fair value of the Company's Level 3 assets and liabilities from continuing operations, including amounts related to businesses to be exited via reinsurance associated with the Individual Life Transaction, and transfers in and out of Level 3 for the period indicated: Three Months Ended March 31, 2019 Fair Value as of January 1 Total Purchases Issuances Sales Settlements Transfers Transfers Fair Value as of March 31 Change In (3) Net OCI Fixed maturities, including securities pledged: U.S. corporate public securities $ 34 $ — $ 1 $ — $ — $ — $ — $ 38 $ — $ 73 $ — U.S. corporate private securities 1,134 — 43 129 — (13 ) (13 ) — — 1,280 — Foreign corporate public securities and foreign governments (1) — — — — — — — — — — — Foreign corporate private securities (1) 217 (25 ) 34 72 — (80 ) — — — 218 — Residential mortgage-backed securities 28 (2 ) — 23 — — — — — 49 (2 ) Commercial mortgage-backed securities 14 — — — — — (1 ) — — 13 — Other asset-backed securities 127 — 1 29 — — (1 ) — (25 ) 131 — Total fixed maturities, including securities pledged 1,554 (27 ) 79 253 — (93 ) (15 ) 38 (25 ) 1,764 (2 ) Equity securities, available-for-sale 104 4 — 42 — — — — — 150 4 Derivatives: Guaranteed benefit derivatives (2)(5) (44 ) 5 — — — — (2 ) — — (41 ) — Assets held in separate accounts (4) 62 1 — 6 — — — 3 (5 ) 67 — (1) Primarily U.S. dollar denominated. (2) All gains and losses on Level 3 liabilities are classified as realized gains (losses) for the purpose of this disclosure because it is impracticable to track realized and unrealized gains (losses) separately on a contract-by contract basis. These amounts are included in Other net realized gains (losses) in the Condensed Consolidated Statements of Operations. (3) For financial instruments still held as of March 31 , amounts are included in Net investment income and Total net realized capital gains (losses) in the Condensed Consolidated Statements of Operations. (4) The investment income and realized gains (losses) and change in unrealized gains (losses) included in net income for separate account assets are offset by an equal amount for separate account liabilities, which results in a net zero impact on Net income (loss) for the Company. (5) Includes GMWBL, GMWB, FIA, Stabilizer and MCGs. The following table summarizes the change in fair value of the Company's Level 3 assets and liabilities related to businesses held for sale and transfers in and out of Level 3 for the period indicated: Three Months Ended March 31, 2019 Fair Value as of January 1 Total Realized/Unrealized Gains (Losses) Included in: Purchases Issuances Sales Settlements Transfers into Level 3 Transfers out of Level 3 Fair Value as of March 31 Change In Unrealized Gains (Losses) Included in Earnings (3) Net Income OCI Fixed maturities, including securities pledged: U.S. corporate public securities $ 10 $ — $ 1 $ 3 $ — $ — $ — $ 21 $ — $ 35 $ — U.S. corporate private securities 259 — 11 19 — — (4 ) — — 285 — Foreign corporate public securities and foreign governments (1) 11 — (2 ) — — — — — — 9 — Foreign corporate private securities (1) 34 (4 ) 6 25 — (13 ) — — — 48 — Residential mortgage-backed securities — — — — — — — — — — — Commercial mortgage-backed securities — — — 3 — — — — — 3 — Other asset-backed securities 11 — — 2 — — — — — 13 — Total fixed maturities including securities pledged 325 (4 ) 16 52 — (13 ) (4 ) 21 — 393 — Equity securities 25 2 — 7 — — — — — 34 2 Derivatives: Guaranteed benefit derivatives - IUL (2) (82 ) (63 ) — — (13 ) — 12 — — (146 ) — Other derivatives, net 83 52 — 11 — — (9 ) — — 137 54 (1) Primarily U.S. dollar denominated. (2) All gains and losses on Level 3 liabilities are classified as realized gains (losses) for the purpose of this disclosure because it is impracticable to track realized and unrealized gains (losses) separately on a contract-by contract basis. (3) For financial instruments still held as of March 31 amounts are included in Income (loss) from discontinued operations, net of tax in the Condensed Consolidated Statements of Operations.
Fair Value Inputs, Assets, Quantitative Information	The following table presents the unobservable inputs for IUL for businesses held for sale as of the dates indicated: March 31, 2020 December 31, 2019 Unobservable Input Range (1) Weighted Average (3) Range (1) Interest rate implied volatility — — — Nonperformance risk 1.42% to 1.49% 1.46 % 0.22% to 0.42% Actuarial Assumptions: Lapses 2% to 10% 6 % 2% to 10% Mortality — (2) — — (2) (1) Represents the range of reasonable assumptions that management has used in its fair value calculations. (2) The mortality rate is derived based on similarly underwritten business (3) Unobservable inputs were weighted by the relative fair value of the instruments. For credit contracts, the average represents the arithmetic average of the inputs and is not weighted by the relative fair value or notional amount.
Fair Value, by Balance Sheet Grouping	The carrying values and estimated fair values of the Company's financial instruments from continuing operations, including amounts related to businesses to be exited via reinsurance associated with the Individual Life Transaction, as of the dates indicated: March 31, 2020 December 31, 2019 Carrying Value Fair Value Carrying Fair Assets: Fixed maturities, including securities pledged $ 41,994 $ 41,994 $ 43,778 $ 43,778 Equity securities 176 176 196 196 Mortgage loans on real estate 6,969 7,087 6,878 7,262 Policy loans 763 763 776 776 Cash, cash equivalents, short-term investments and short-term investments under securities loan agreements 3,296 3,296 2,644 2,644 Derivatives 875 875 316 316 Other investments 324 405 320 456 Assets held in separate accounts 68,937 68,937 81,670 81,670 Liabilities: Investment contract liabilities: Funding agreements without fixed maturities and deferred annuities (2) $ 34,989 $ 42,861 $ 33,916 $ 41,035 Funding agreements with fixed maturities 856 829 877 877 Supplementary contracts, immediate annuities and other 799 839 821 872 Derivatives: Guaranteed benefit derivatives (2) 253 253 60 60 Other derivatives 1,068 1,068 403 403 Short-term debt 1 1 1 1 Long-term debt 3,042 3,120 3,042 3,418 Embedded derivative on reinsurance 52 52 100 100 (1) Certain amounts included in Funding agreements without fixed maturities and deferred annuities are also reflected within the Guaranteed benefit derivatives section of the table above. (2) Includes GMWBL, GMWB, FIA, Stabilizer and MCG. The carrying values and estimated fair values of the Company's financial instruments related to businesses held for sale as of the dates indicated: March 31, 2020 December 31, 2019 Carrying Value Fair Value Carrying Value Fair Value Assets: Fixed maturities, including securities pledged $ 12,052 $ 12,052 $ 12,470 $ 12,470 Equity securities 32 32 35 35 Mortgage loans on real estate 1,310 1,340 1,319 1,405 Policy loans 1,006 1,006 1,005 1,005 Cash, cash equivalents, short-term investments and short-term investments under securities loan agreements 471 471 533 533 Derivatives 148 148 305 305 Other investments 46 46 42 42 Assets held in separate accounts 1,212 1,212 1,485 1,485 Liabilities: Investment contract liabilities: Funding agreements with fixed maturities $ 1,016 $ 986 $ 927 $ 923 Supplementary contracts, immediate annuities and other 103 110 97 104 Notes Payable 252 262 252 320 Derivatives: Guaranteed benefit derivatives - IUL 82 82 217 217 Embedded derivative on reinsurance 58 58 75 75 The following table summarizes the fair value hierarchy levels of consolidated investment entities as of March 31, 2020 : Level 1 Level 2 Level 3 NAV Total Assets VIEs Cash and cash equivalents $ 52 $ — $ — $ — $ 52 Corporate loans, at fair value using the fair value option — 432 — — 432 Limited partnerships/corporations, at fair value — — — 1,470 1,470 VOEs Limited partnerships/corporations, at fair value — — — 185 185 Total assets, at fair value $ 52 $ 432 $ — $ 1,655 $ 2,139 Liabilities VIEs CLO notes, at fair value using the fair value option $ — $ 368 $ — $ — $ 368 Total liabilities, at fair value $ — $ 368 $ — $ — $ 368 The following table summarizes the fair value hierarchy levels of consolidated investment entities as of December 31, 2019 : Level 1 Level 2 Level 3 NAV Total Assets VIEs Cash and cash equivalents $ 68 $ — $ — $ — $ 68 Corporate loans, at fair value using the fair value option — 513 — — 513 Limited partnerships/corporations, at fair value — — — 1,470 1,470 VOEs Limited partnerships/corporations, at fair value — — — 162 162 Total assets, at fair value $ 68 $ 513 $ — $ 1,632 $ 2,213 Liabilities VIEs CLO notes, at fair value using the fair value option $ — $ 474 $ — $ — $ 474 Total liabilities, at fair value $ — $ 474 $ — $ — $ 474

Deferred Policy Acquisition C_2

Deferred Policy Acquisition Costs and Value of Business Acquired (Tables)	3 Months Ended
	Mar. 31, 2020
Deferred Policy Acquisition Costs and Present Value of Future Insurance Profits, Net [Abstract]
Deferred Policy Acquisition Costs and Value of Business Acquired	The following tables present a rollforward of DAC and VOBA for the periods indicated: 2020 DAC VOBA Total Balance as of January 1, 2020 $ 1,762 $ 464 $ 2,226 Impact of ASU 2016-13 3 — 3 Deferrals of commissions and expenses 26 — 26 Amortization: Amortization, excluding unlocking (74 ) (22 ) (96 ) Unlocking (1) (12 ) (13 ) (25 ) Interest accrued 31 14 (2) 45 Net amortization included in Condensed Consolidated Statements of Operations (55 ) (21 ) (76 ) Change due to unrealized capital gains/losses on available-for-sale securities 226 198 424 Balance as of March 31, 2020 $ 1,962 $ 641 $ 2,603 2019 DAC VOBA Total Balance as of January 1, 2019 $ 2,155 $ 818 $ 2,973 Deferrals of commissions and expenses 23 2 25 Amortization: Amortization, excluding unlocking (88 ) (36 ) (124 ) Unlocking (1) 7 15 22 Interest accrued 31 14 (2) 45 Net amortization included in Condensed Consolidated Statements of Operations (50 ) (7 ) (57 ) Change due to unrealized capital gains/losses on available-for-sale securities (185 ) (146 ) (331 ) Balance as of March 31, 2019 $ 1,943 $ 667 $ 2,610 (1) Includes the impacts of annual review of assumptions which typically occurs in the third quarter; and retrospective and prospective unlocking. (2) Interest accrued at the following rates for VOBA: 3.5% to 7.4% during 2020 and 2019 .

Share-based Incentive Compens_2

Share-based Incentive Compensation Plans (Tables)	3 Months Ended
	Mar. 31, 2020
Share-based Payment Arrangement [Abstract]
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan	The following table summarizes share-based compensation expense, which includes expenses related to awards granted under the Omnibus Plans and Director Plan for the periods indicated: Three Months Ended March 31, 2020 2019 Restricted Stock Unit (RSU) awards $ 18 $ 17 Performance Stock Unit (PSU) awards 18 17 Stock options 2 2 Total share-based compensation expense 38 36 Income tax benefit 19 1 After-tax share-based compensation expense $ 19 $ 35
Schedule of Share-based Compensation, Activity	The following table summarizes RSU and PSU awards activity under the Omnibus Plans and the Director Plan for the period indicated: RSU Awards PSU Awards (awards in millions) Number of Awards Weighted Average Grant Date Fair Value Number of Awards Weighted Average Grant Date Fair Value Outstanding as of January 1, 2020 1.9 $ 48.55 2.2 $ 48.85 Adjustment for PSU performance factor N/A N/A 0.4 42.27 Granted 0.7 63.62 0.7 61.86 Vested (0.9 ) 47.47 (1.2 ) 42.34 Forfeited — * 50.20 — * 52.47 Outstanding as of March 31, 2020 1.7 $ 55.60 2.1 $ 55.46 * Less than 0.1
Schedule of Share-based Compensation, Stock Options, Activity	The following table summarizes the number of options under the Omnibus Plans for the periods indicated: Stock Options (awards in millions) Number of Awards Weighted Average Exercise Price Outstanding as of January 1, 2020 2.9 $ 41.93 Granted — — Exercised — * 37.60 Forfeited — * 50.03 Outstanding as of March 31, 2020 2.9 $ 41.87 Vested, exercisable, as of March 31, 2020 2.3 $ 40.26

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2020
Equity [Abstract]
Schedule of Common Stock Outstanding Roll Forward	The following table presents the rollforward of common shares used in calculating the weighted average shares utilized in the basic earnings per common share calculation for the periods indicated: Common Shares (shares in millions) Issued Held in Treasury Outstanding Balance, January 1, 2019 272.4 121.4 151.0 Common shares issued 0.1 — 0.1 Common shares acquired - share repurchase — 21.1 (21.1 ) Share-based compensation 3.2 0.9 2.3 Treasury Stock retirement (135.0 ) (135.0 ) — Balance, December 31, 2019 140.7 8.4 132.3 Common shares issued — — — Common shares acquired - share repurchase — 8.1 (8.1 ) Share-based compensation 2.1 0.3 1.8 Balance, March 31, 2020 142.8 16.8 126.0
Schedule of Dividends Declared	Dividends declared per share of Common Stock were as follows for the periods indicated: Three Months Ended March 31, 2020 2019 Dividends declared per share of Common Stock $ 0.15 $ 0.01
Schedule of Share Repurchase Agreements	The following table presents repurchases of the Company's common stock through share repurchase agreements with third-party financial institutions during the three months ended March 31, 2020 : Execution Date Payment Initial Shares Delivered Closing Date Additional Shares Delivered Total Shares Repurchased December 19, 2019 $ 200 2,591,093 February 26, 2020 727,368 3,318,461
Schedule of Preferred Stock Issued and Outstanding	As of March 31, 2020 and December 31, 2019, there were 100,000,000 shares of preferred stock authorized. Preferred stock issued and outstanding are as follows: March 31, 2020 December 31, 2019 Series Issued Outstanding Issued Outstanding 6.125% Non-cumulative Preferred Stock, Series A 325,000 325,000 325,000 325,000 5.35% Non-cumulative Preferred Stock, Series B 300,000 300,000 300,000 300,000 Total 625,000 625,000 625,000 625,000

Earnings per Common Share (Tabl

Earnings per Common Share (Tables)	3 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table presents a reconciliation of Net income (loss) and shares used in calculating basic and diluted net income (loss) per common share for the periods indicated: Three Months Ended March 31, (in millions, except for per share data) 2020 2019 Earnings Net income (loss) available to common shareholders: Income (loss) from continuing operations $ 50 $ 93 Less: Preferred stock dividends 14 10 Less: Net income (loss) attributable to noncontrolling interest 6 (1 ) Income (loss) from continuing operations available to common shareholders 30 84 Income (loss) from discontinued operations, net of tax (128 ) (20 ) Net income (loss) available to common shareholders $ (98 ) $ 64 Weighted average common shares outstanding Basic 130.9 146.9 Dilutive Effects: Warrants (1) 2.9 — RSU awards 1.2 1.5 PSU awards 1.8 2.4 Stock Options 0.6 0.5 Diluted 137.4 151.3 Basic (2) Income (loss) from continuing operations available to Voya Financial, Inc.'s common shareholders $ 0.23 $ 0.57 Income (loss) from discontinued operations, net of taxes available to Voya Financial, Inc.'s common shareholders $ (0.98 ) $ (0.14 ) Income (loss) available to Voya Financial, Inc.'s common shareholders $ (0.75 ) $ 0.44 Diluted (2) Income (loss) from continuing operations available to Voya Financial, Inc.'s common shareholders $ 0.22 $ 0.56 Income (loss) from discontinued operations, net of taxes available to Voya Financial, Inc.'s common shareholders $ (0.93 ) $ (0.13 ) Income (loss) available to Voya Financial, Inc.'s common shareholders $ (0.71 ) $ 0.42 (1) For the three months ended March 31, 2019 , weighted average shares used for calculating basic and diluted earnings per share excludes the dilutive impact of warrants as the inclusion of this equity instrument would be antidilutive to the earnings per share calculation due to "out of the moneyness" in the periods presented. For more information on warrants, see the Shareholders' Equity Note to these Condensed Consolidated Financial Statements. (2) Basic and diluted earnings per share are calculated using unrounded, actual amounts. Therefore, the components of earnings per share may not sum to its corresponding total.

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Mar. 31, 2020
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income	Shareholders' equity included the following components of Accumulated Other Comprehensive Income ("AOCI") as of the dates indicated: March 31, 2020 2019 Fixed maturities, net of impairment $ 2,819 $ 2,958 Derivatives (1) 235 154 DAC/VOBA adjustment on available-for-sale securities (906 ) (879 ) Premium deficiency reserve (146 ) (93 ) Sales inducements and other intangibles adjustment on available-for-sale securities (127 ) (112 ) Unrealized capital gains (losses), before tax 1,875 2,028 Deferred income tax asset (liability) (40 ) (72 ) Net unrealized capital gains (losses) 1,835 1,956 Pension and other postretirement benefits liability, net of tax 6 10 AOCI $ 1,841 $ 1,966 (1) Gains and losses reported in Accumulated Other Comprehensive Income (AOCI) from hedge transactions that resulted in the acquisition of an identified asset are reclassified into earnings in the same period or periods during which the asset acquired affects earnings. As of March 31, 2020 , the portion of the AOCI that is expected to be reclassified into earnings within the next 12 months is $24
Schedule of Amounts Recognized in Other Comprehensive Income (Loss)	Changes in AOCI, including the reclassification adjustments recognized in the Condensed Consolidated Statements of Operations were as follows for the periods indicated: Three Months Ended March 31, 2020 Before-Tax Amount Income Tax After-Tax Amount Available-for-sale securities: Fixed maturities $ (2,756 ) $ 578 $ (2,178 ) Impairments — — — Adjustments for amounts recognized in Net realized capital gains (losses) in the Condensed Consolidated Statements of Operations 29 (6 ) 23 DAC/VOBA 592 (1) (124 ) 468 Premium deficiency reserve 103 (22 ) 81 Sales inducements and other intangibles 58 (12 ) 46 Change in unrealized gains/losses on available-for-sale securities (1,974 ) 414 (1,560 ) Derivatives: Derivatives 96 (2) (20 ) 76 Adjustments related to effective cash flow hedges for amounts recognized in Net investment income in the Condensed Consolidated Statements of Operations (6 ) 1 (5 ) Change in unrealized gains/losses on derivatives 90 (19 ) 71 Pension and other postretirement benefits liability: Amortization of prior service cost recognized in Operating expenses in the Condensed Consolidated Statements of Operations (1 ) — (1 ) Change in pension and other postretirement benefits liability (1 ) — (1 ) Change in Accumulated other comprehensive income (loss) $ (1,885 ) $ 395 $ (1,490 ) (1) See the Deferred Policy Acquisition Costs and Value of Business Acquired Note to these Condensed Consolidated Financial Statements for additional information. (2) See the Derivative Financial Instruments Note to these Condensed Consolidated Financial Statements for additional information. Three Months Ended March 31, 2019 Before-Tax Amount Income Tax After-Tax Amount Available-for-sale securities: Fixed maturities $ 1,865 $ (390 ) $ 1,475 Impairment 1 — 1 Adjustments for amounts recognized in Net realized capital gains (losses) in the Condensed Consolidated Statements of Operations 17 (4 ) 13 DAC/VOBA (498 ) (1) 105 (393 ) Premium deficiency reserve (36 ) 8 (28 ) Sales inducements and other intangibles (48 ) 10 (38 ) Change in unrealized gains/losses on available-for-sale securities 1,301 (271 ) 1,030 Derivatives: Derivatives (10 ) (2) 2 (8 ) Adjustments related to effective cash flow hedges for amounts recognized in Net investment income in the Condensed Consolidated Statements of Operations (6 ) 1 (5 ) Change in unrealized gains/losses on derivatives (16 ) 3 (13 ) Pension and other postretirement benefits liability: Amortization of prior service cost recognized in Operating expenses in the Condensed Consolidated Statements of Operations (1 ) — (1 ) Change in pension and other postretirement benefits liability (1 ) — (1 ) Change in Accumulated other comprehensive income (loss) $ 1,284 $ (268 ) $ 1,016 (1) See the Deferred Policy Acquisition Costs and Value of Business Acquired Note to these Condensed Consolidated Financial Statements for additional information. (2) See the Derivative Financial Instruments Note to these Condensed Consolidated Financial Statements for additional information.

Financing Agreements (Tables)

Financing Agreements (Tables)	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	The following table summarizes the carrying value of the Company’s debt securities issued and outstanding as of March 31, 2020 and December 31, 2019 : Maturity March 31, 2020 December 31, 2019 3.125% Senior Notes, due 2024 07/15/2024 397 397 3.65% Senior Notes, due 2026 06/15/2026 496 496 5.7% Senior Notes, due 2043 07/15/2043 395 395 4.8% Senior Notes, due 2046 06/15/2046 297 297 4.7% Fixed-to-Floating Rate Junior Subordinated Notes, due 2048 01/23/2048 345 345 5.65% Fixed-to-Floating Rate Junior Subordinated Notes, due 2053 05/15/2053 739 739 7.25% Voya Holdings Inc. debentures, due 2023 (1) 08/15/2023 139 139 7.63% Voya Holdings Inc. debentures, due 2026 (1) 08/15/2026 138 138 6.97% Voya Holdings Inc. debentures, due 2036 (1) 08/15/2036 79 79 8.42% Equitable of Iowa Companies Capital Trust II Notes, due 2027 04/01/2027 14 14 1.00% Windsor Property Loan 06/14/2027 4 4 Subtotal 3,043 3,043 Less: Current portion of long-term debt 1 1 Total $ 3,042 $ 3,042 (1) Guaranteed by ING Group.

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Schedule of Restricted Assets	The components of the fair value of the restricted assets were as follows as of the dates indicated: March 31, 2020 December 31, 2019 Fixed maturity collateral pledged to FHLB (1) $ 1,242 $ 1,211 FHLB restricted stock (2) 53 55 Other fixed maturities-state deposits 44 48 Cash and cash equivalents 12 12 Securities pledged (3) 1,555 1,408 Total restricted assets $ 2,906 $ 2,734 (1) Included in Fixed maturities, available for sale, at fair value on the Condensed Consolidated Balance Sheets. (2) Included in Other investments on the Condensed Consolidated Balance Sheets. (3) Includes the fair value of loaned securities of $1,273 and $1,159 as of March 31, 2020 and December 31, 2019 , respectively. In addition, as of March 31, 2020 and December 31, 2019 , the Company delivered securities as collateral of $210 and $183 and repurchase agreements of $72 and $66 , respectively. Loaned securities and securities delivered as collateral are included in Securities pledged on the Condensed Consolidated Balance Sheets.

Consolidated Investment Entit_2

Consolidated Investment Entities (Tables)	3 Months Ended
	Mar. 31, 2020
Consolidated Investment Entities [Abstract]
Assets and Liabilities of the Consolidated Investment Entities	The following table summarizes the components of the consolidated investment entities as of the dates indicated: March 31, 2020 December 31, 2019 Assets of Consolidated Investment Entities VIEs Cash and cash equivalents $ 52 $ 68 Corporate loans, at fair value using the fair value option 432 513 Limited partnerships/corporations, at fair value 1,470 1,470 Other assets 16 12 Total VIE assets 1,970 2,063 VOEs Limited partnerships/corporations, at fair value 185 162 Other assets — 1 Total VOE assets 185 163 Total assets of consolidated investment entities $ 2,155 $ 2,226 Liabilities of Consolidated Investment Entities VIEs CLO notes, at fair value using the fair value option $ 368 $ 474 Other liabilities 668 650 Total VIE liabilities 1,036 1,124 VOEs Other liabilities 4 2 Total VOE liabilities 4 2 Total liabilities of consolidated investment entities $ 1,040 $ 1,126
Fair Value, by Balance Sheet Grouping	The carrying values and estimated fair values of the Company's financial instruments from continuing operations, including amounts related to businesses to be exited via reinsurance associated with the Individual Life Transaction, as of the dates indicated: March 31, 2020 December 31, 2019 Carrying Value Fair Value Carrying Fair Assets: Fixed maturities, including securities pledged $ 41,994 $ 41,994 $ 43,778 $ 43,778 Equity securities 176 176 196 196 Mortgage loans on real estate 6,969 7,087 6,878 7,262 Policy loans 763 763 776 776 Cash, cash equivalents, short-term investments and short-term investments under securities loan agreements 3,296 3,296 2,644 2,644 Derivatives 875 875 316 316 Other investments 324 405 320 456 Assets held in separate accounts 68,937 68,937 81,670 81,670 Liabilities: Investment contract liabilities: Funding agreements without fixed maturities and deferred annuities (2) $ 34,989 $ 42,861 $ 33,916 $ 41,035 Funding agreements with fixed maturities 856 829 877 877 Supplementary contracts, immediate annuities and other 799 839 821 872 Derivatives: Guaranteed benefit derivatives (2) 253 253 60 60 Other derivatives 1,068 1,068 403 403 Short-term debt 1 1 1 1 Long-term debt 3,042 3,120 3,042 3,418 Embedded derivative on reinsurance 52 52 100 100 (1) Certain amounts included in Funding agreements without fixed maturities and deferred annuities are also reflected within the Guaranteed benefit derivatives section of the table above. (2) Includes GMWBL, GMWB, FIA, Stabilizer and MCG. The carrying values and estimated fair values of the Company's financial instruments related to businesses held for sale as of the dates indicated: March 31, 2020 December 31, 2019 Carrying Value Fair Value Carrying Value Fair Value Assets: Fixed maturities, including securities pledged $ 12,052 $ 12,052 $ 12,470 $ 12,470 Equity securities 32 32 35 35 Mortgage loans on real estate 1,310 1,340 1,319 1,405 Policy loans 1,006 1,006 1,005 1,005 Cash, cash equivalents, short-term investments and short-term investments under securities loan agreements 471 471 533 533 Derivatives 148 148 305 305 Other investments 46 46 42 42 Assets held in separate accounts 1,212 1,212 1,485 1,485 Liabilities: Investment contract liabilities: Funding agreements with fixed maturities $ 1,016 $ 986 $ 927 $ 923 Supplementary contracts, immediate annuities and other 103 110 97 104 Notes Payable 252 262 252 320 Derivatives: Guaranteed benefit derivatives - IUL 82 82 217 217 Embedded derivative on reinsurance 58 58 75 75 The following table summarizes the fair value hierarchy levels of consolidated investment entities as of March 31, 2020 : Level 1 Level 2 Level 3 NAV Total Assets VIEs Cash and cash equivalents $ 52 $ — $ — $ — $ 52 Corporate loans, at fair value using the fair value option — 432 — — 432 Limited partnerships/corporations, at fair value — — — 1,470 1,470 VOEs Limited partnerships/corporations, at fair value — — — 185 185 Total assets, at fair value $ 52 $ 432 $ — $ 1,655 $ 2,139 Liabilities VIEs CLO notes, at fair value using the fair value option $ — $ 368 $ — $ — $ 368 Total liabilities, at fair value $ — $ 368 $ — $ — $ 368 The following table summarizes the fair value hierarchy levels of consolidated investment entities as of December 31, 2019 : Level 1 Level 2 Level 3 NAV Total Assets VIEs Cash and cash equivalents $ 68 $ — $ — $ — $ 68 Corporate loans, at fair value using the fair value option — 513 — — 513 Limited partnerships/corporations, at fair value — — — 1,470 1,470 VOEs Limited partnerships/corporations, at fair value — — — 162 162 Total assets, at fair value $ 68 $ 513 $ — $ 1,632 $ 2,213 Liabilities VIEs CLO notes, at fair value using the fair value option $ — $ 474 $ — $ — $ 474 Total liabilities, at fair value $ — $ 474 $ — $ — $ 474
Maximum Exposure to Loss	The following table presents the carrying amounts of the variable interests in VIEs in which the Company concluded that it holds a variable interest, but is not the primary beneficiary as of the dates indicated. The Company determines its maximum exposure to loss to be: (i) the amount invested in the debt or equity of the VIE and (ii) other commitments and guarantees to the VIE. Variable Interests on the Condensed Consolidated Balance Sheet March 31, 2020 December 31, 2019 Carrying Amount Maximum exposure to loss Carrying Amount Maximum exposure to loss Fixed maturities, available for sale $ 339 $ 339 $ 377 $ 377 Limited partnership/corporations 1,343 1,343 1,290 1,290

Restructuring (Tables)

Restructuring (Tables) - Organizational restructuring	3 Months Ended
	Mar. 31, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Costs	The summary below presents Organizational Restructuring expenses, pre-tax, by type of costs incurred, for the periods indicated: Three Months Ended March 31, Cumulative Amounts Incurred to Date 2020 2019 Severance benefits $ (3 ) $ 47 $ 55 Organizational transition costs 22 36 224 Total restructuring expenses $ 19 $ 83 $ 279
Schedule of Restructuring Reserve by Type of Cost	The following table presents the accrued liability associated with Organizational Restructuring expenses as of March 31, 2020 : Severance Benefits Organizational Transition Costs Total Accrued liability as of January 1, 2020 $ 30 $ 25 $ 55 Provision (3 ) 22 19 Payments (7 ) (15 ) (22 ) Accrued liability as of March 31, 2020 $ 20 $ 32 $ 52

Segments (Tables)

Segments (Tables)	3 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
Reconciliation of Operating Earnings Before Income Taxes from Segments to Consolidated	The summary below reconciles Adjusted operating earnings before income taxes for the segments to Income (loss) from continuing operations before income taxes for the periods indicated: Three Months Ended March 31, 2020 2019 Income (loss) from continuing operations before income taxes $ 44 $ 102 Less Adjustments: Net investment gains (losses) and related charges and adjustments (8 ) 13 Net guaranteed benefit hedging gains (losses) and related charges and adjustments (89 ) (4 ) Income (loss) related to businesses exited or to be exited through reinsurance or divestment 9 9 Income (loss) attributable to noncontrolling interest 6 (1 ) Income (loss) related to early extinguishment of debt — — Immediate recognition of net actuarial gains (losses) related to pension and other post-employment benefit obligations and gains (losses) from plan amendments and curtailments — 66 Dividend payments made to preferred shareholders 14 10 Other adjustments (22 ) (92 ) Total adjustments to income (loss) from continuing operations $ (90 ) $ 1 Adjusted operating earnings before income taxes by segment: Retirement $ 124 $ 129 Investment Management 40 34 Employee Benefits 61 38 Corporate (91 ) (100 ) Total $ 134 $ 101
Reconciliation of Revenue from Segments to Total Revenues	The summary below reconciles Adjusted operating revenues for the segments to Total revenues for the periods indicated: Three Months Ended March 31, 2020 2019 Total revenues $ 1,685 $ 1,822 Adjustments: Net realized investment gains (losses) and related charges and adjustments (8 ) 13 Gains (losses) on change in fair value of derivatives related to guaranteed benefits (90 ) (4 ) Revenues related to businesses exited or to be exited through reinsurance or divestment 344 398 Revenues attributable to noncontrolling interest 9 4 Other adjustments 33 82 Total adjustments to revenues $ 288 $ 493 Adjusted operating revenues by segment: Retirement $ 677 $ 648 Investment Management 166 148 Employee Benefits 543 508 Corporate 11 25 Total $ 1,397 $ 1,329
Schedule of Intersegment Revenues Included in Investment Management Segment	The Investment Management segment revenues include the following intersegment revenues, primarily consisting of asset-based management and administration fees for the periods indicated: Three Months Ended March 31, 2020 2019 Investment Management intersegment revenues $ 26 $ 26
Summary of Financial Information for Segments	The summary below presents Total assets for the Company’s segments as of the dates indicated: March 31, 2020 December 31, 2019 Retirement $ 106,068 $ 118,024 Investment Management 648 745 Employee Benefits 2,642 3,117 Corporate 25,362 25,206 Total assets, before consolidation (1) 134,720 147,092 Consolidation of investment entities 1,879 1,890 Total assets, excluding assets held for sale 136,599 148,982 Assets held for sale 19,133 20,069 Total assets $ 155,732 $ 169,051 (1) Total assets, before consolidation includes the Company's direct investments in CIEs prior to consolidation, which are accounted for using the equity method or fair value option.

Condensed Consolidating Finan_2

Condensed Consolidating Financial Information (Tables)	3 Months Ended
	Mar. 31, 2020
Condensed Financial Information Disclosure [Abstract]
Schedule of Condensed Consolidating Balance Sheets	Condensed Consolidating Balance Sheet March 31, 2020 Parent Issuer Subsidiary Guarantor Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated Assets: Investments: Fixed maturities, available-for-sale, at fair value $ 5 $ — $ 37,594 $ (15 ) $ 37,584 Fixed maturities, at fair value using the fair value option — — 2,855 — 2,855 Equity securities, at fair value — — 176 — 176 Short-term investments — — 80 — 80 Mortgage loans on real estate, net of valuation allowance — — 6,969 — 6,969 Less: Allowance for credit losses — — 22 — 22 Mortgage loans on real estate, net — — 6,947 — 6,947 Policy loans — — 763 — 763 Limited partnerships/corporations 4 — 1,339 — 1,343 Derivatives 50 — 825 — 875 Investments in subsidiaries 9,479 7,311 — (16,790 ) — Other investments — — 392 — 392 Securities pledged — — 1,555 — 1,555 Total investments 9,538 7,311 52,526 (16,805 ) 52,570 Cash and cash equivalents 221 — 812 — 1,033 Short-term investments under securities loan agreements, including collateral delivered 11 — 2,172 — 2,183 Accrued investment income — — 541 — 541 Premium receivable and reinsurance recoverable — — 3,744 — 3,744 Less: Allowance for credit losses on reinsurance recoverable — — 22 — 22 Premium receivable and reinsurance recoverable, net — — 3,722 — 3,722 Deferred policy acquisition costs and Value of business acquired — — 2,603 — 2,603 Deferred income taxes 828 42 899 — 1,769 Loans to subsidiaries and affiliates 245 — 626 (871 ) — Due from subsidiaries and affiliates 5 — 17 (22 ) — Other assets 24 — 1,062 — 1,086 Assets related to consolidated investment entities: Limited partnerships/corporations, at fair value — — 1,655 — 1,655 Cash and cash equivalents — — 52 — 52 Corporate loans, at fair value using the fair value option — — 432 — 432 Other assets — — 16 — 16 Assets held in separate accounts — — 68,937 — 68,937 Assets held for sale — — 19,133 — 19,133 Total assets $ 10,872 $ 7,353 $ 155,205 $ (17,698 ) $ 155,732 Condensed Consolidating Balance Sheet (Continued) March 31, 2020 Parent Issuer Subsidiary Guarantor Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated Liabilities and Shareholders' Equity: Future policy benefits $ — $ — $ 9,640 $ — $ 9,640 Contract owner account balances — — 41,981 — 41,981 Payables under securities loan and repurchase agreements, including collateral held (28 ) — 2,093 — 2,065 Short-term debt 626 67 179 (871 ) 1 Long-term debt 2,669 371 17 (15 ) 3,042 Derivatives 77 — 991 — 1,068 Pension and other postretirement provisions — — 442 — 442 Current income taxes 28 (18 ) 20 — 30 Due to subsidiaries and affiliates 15 — 4 (19 ) — Other liabilities 58 4 1,190 (3 ) 1,249 Liabilities related to consolidated investment entities: Collateralized loan obligations notes, at fair value using the fair value option — — 368 — 368 Other liabilities — — 672 — 672 Liabilities related to separate accounts — — 68,937 — 68,937 Liabilities held for sale — — 17,972 — 17,972 Total liabilities 3,445 424 144,506 (908 ) 147,467 Shareholders' equity: Total Voya Financial, Inc. shareholders' equity 7,427 6,929 9,861 (16,790 ) 7,427 Noncontrolling interest — — 838 — 838 Total shareholders' equity 7,427 6,929 10,699 (16,790 ) 8,265 Total liabilities and shareholders' equity $ 10,872 $ 7,353 $ 155,205 $ (17,698 ) $ 155,732 Condensed Consolidating Balance Sheet December 31, 2019 Parent Issuer Subsidiary Guarantor Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated Assets: Investments: Fixed maturities, available-for-sale, at fair value $ 5 $ — $ 39,673 $ (15 ) $ 39,663 Fixed maturities, at fair value using the fair value option — — 2,707 — 2,707 Equity securities, at fair value — — 196 — 196 Short-term investments — — 68 — 68 Mortgage loans on real estate, net of valuation allowance — — 6,878 — 6,878 Less: Allowance for credit losses — — — — — Mortgage loans on real estate, net — — 6,878 — 6,878 Policy loans — — 776 — 776 Limited partnerships/corporations 4 — 1,286 — 1,290 Derivatives 49 — 267 — 316 Investments in subsidiaries 11,003 8,493 — (19,496 ) — Other investments — — 385 — 385 Securities pledged — — 1,408 — 1,408 Total investments 11,061 8,493 53,644 (19,511 ) 53,687 Cash and cash equivalents 212 — 969 — 1,181 Short-term investments under securities loan agreements, including collateral delivered 11 — 1,384 — 1,395 Accrued investment income — — 505 — 505 Premium receivable and reinsurance recoverable — — 3,732 — 3,732 Less: Allowance for credit losses on reinsurance recoverable — — — — — Premium receivable and reinsurance recoverable, net — — 3,732 — 3,732 Deferred policy acquisition costs and Value of business acquired — — 2,226 — 2,226 Deferred income taxes 816 39 603 — 1,458 Loans to subsidiaries and affiliates 164 — 69 (233 ) — Due from subsidiaries and affiliates 2 — 6 (8 ) — Other assets 7 — 895 — 902 Assets related to consolidated investment entities: Limited partnerships/corporations, at fair value — — 1,632 — 1,632 Cash and cash equivalents — — 68 — 68 Corporate loans, at fair value using the fair value option — — 513 — 513 Other assets — — 13 — 13 Assets held in separate accounts — — 81,670 — 81,670 Assets held for sale — — 20,069 — 20,069 Total assets $ 12,273 $ 8,532 $ 167,998 $ (19,752 ) $ 169,051 Condensed Consolidating Balance Sheet (Continued) December 31, 2019 Parent Issuer Subsidiary Guarantor Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated Liabilities and Shareholders' Equity: Future policy benefits $ — $ — $ 9,945 $ — $ 9,945 Contract owner account balances — — 40,923 — 40,923 Payables under securities loan and repurchase agreements, including collateral held — — 1,373 — 1,373 Short-term debt 69 87 78 (233 ) 1 Long-term debt 2,669 371 17 (15 ) 3,042 Derivatives 50 — 353 — 403 Pension and other postretirement provisions — — 468 — 468 Current income taxes 28 (17 ) 16 — 27 Due to subsidiaries and affiliates 4 — 2 (6 ) — Other liabilities 45 10 1,292 (2 ) 1,345 Liabilities related to consolidated investment entities: Collateralized loan obligations notes, at fair value using the fair value option — — 474 — 474 Other liabilities — — 652 — 652 Liabilities related to separate accounts — — 81,670 — 81,670 Liabilities held for sale — — 18,498 — 18,498 Total liabilities 2,865 451 155,761 (256 ) 158,821 Shareholders' equity: Total Voya Financial, Inc. shareholders' equity 9,408 8,081 11,415 (19,496 ) 9,408 Noncontrolling interest — — 822 — 822 Total shareholders' equity 9,408 8,081 12,237 (19,496 ) 10,230 Total liabilities and shareholders' equity $ 12,273 $ 8,532 $ 167,998 $ (19,752 ) $ 169,051
Schedule of Condensed Consolidating Statement of Operations	Condensed Consolidating Statement of Operations For the Three Months Ended March 31, 2020 Parent Issuer Subsidiary Guarantor Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated Revenues: Net investment income $ 3 $ — $ 698 $ (3 ) $ 698 Fee income — — 505 — 505 Premiums — — 608 — 608 Net realized capital gains (losses): Total impairments — — (20 ) — (20 ) Other net realized capital gains (losses) (26 ) — (187 ) — (213 ) Total net realized capital gains (losses) (26 ) — (207 ) — (233 ) Other revenue — — 92 — 92 Income (loss) related to consolidated investment entities: Net investment income — — 15 — 15 Total revenues (23 ) — 1,711 (3 ) 1,685 Benefits and expenses: Policyholder benefits — — 596 — 596 Interest credited to contract owner account balances — — 286 — 286 Operating expenses 4 — 636 — 640 Net amortization of Deferred policy acquisition costs and Value of business acquired — — 76 — 76 Interest expense 34 7 2 (3 ) 40 Operating expenses related to consolidated investment entities: Interest expense — — 3 — 3 Total benefits and expenses 38 7 1,599 (3 ) 1,641 Income (loss) from continuing operations before income taxes (61 ) (7 ) 112 — 44 Income tax expense (benefit) (13 ) (3 ) 10 — (6 ) Income (loss) from continuing operations (48 ) (4 ) 102 — 50 Income (loss) from discontinued operations, net of tax — — (128 ) — (128 ) Net income (loss) before equity in earnings (losses) of unconsolidated affiliates (48 ) (4 ) (26 ) — (78 ) Equity in earnings (losses) of subsidiaries, net of tax (36 ) 136 — (100 ) — Net income (loss) (84 ) 132 (26 ) (100 ) (78 ) Less: Net income (loss) attributable to noncontrolling interest — — 6 — 6 Net income (loss) available to Voya Financial, Inc. (84 ) 132 (32 ) (100 ) (84 ) Less: Preferred stock dividends 14 — — — 14 Net income (loss) available to Voya Financial, Inc.'s common shareholders $ (98 ) $ 132 $ (32 ) $ (100 ) $ (98 ) Condensed Consolidating Statement of Operations For the Three Months Ended March 31, 2019 Parent Issuer Subsidiary Guarantor Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated Revenues: Net investment income $ 15 $ — $ 646 $ (3 ) $ 658 Fee income — — 482 — 482 Premiums — — 575 — 575 Net realized capital gains (losses): Total impairments — — (26 ) — (26 ) Other net realized capital gains (losses) — — 14 — 14 Total net realized capital gains (losses) — — (12 ) — (12 ) Other revenue — — 114 — 114 Income (loss) related to consolidated investment entities: Net investment income — — 5 — 5 Total revenues 15 — 1,810 (3 ) 1,822 Benefits and expenses: Policyholder benefits — — 645 — 645 Interest credited to contract owner account balances — — 289 — 289 Operating expenses 3 — 679 — 682 Net amortization of Deferred policy acquisition costs and Value of business acquired — — 57 — 57 Interest expense 37 6 2 (3 ) 42 Operating expenses related to consolidated investment entities: Interest expense — — 5 — 5 Total benefits and expenses 40 6 1,677 (3 ) 1,720 Income (loss) from continuing operations before income taxes (25 ) (6 ) 133 — 102 Income tax expense (benefit) (5 ) (1 ) 15 — 9 Income (loss) from continuing operations (20 ) (5 ) 118 — 93 Income (loss) from discontinued operations, net of tax — (79 ) 59 — (20 ) Net income (loss) before equity in earnings (losses) of unconsolidated affiliates (20 ) (84 ) 177 — 73 Equity in earnings (losses) of subsidiaries, net of tax 94 68 — (162 ) — Net income (loss) 74 (16 ) 177 (162 ) 73 Less: Net income (loss) attributable to noncontrolling interest — — (1 ) — (1 ) Net income (loss) available to Voya Financial, Inc. 74 (16 ) 178 (162 ) 74 Less: Preferred stock dividends 10 — — — 10 Net income (loss) available to Voya Financial, Inc.'s common shareholders $ 64 $ (16 ) $ 178 $ (162 ) $ 64
Schedule of Condensed Consolidating Statement of Comprehensive Income	Condensed Consolidating Statement of Comprehensive Income For the Three Months Ended March 31, 2020 Parent Issuer Subsidiary Guarantor Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated Net income (loss) $ (84 ) $ 132 $ (26 ) $ (100 ) $ (78 ) Other comprehensive income (loss), before tax: Unrealized gains (losses) on securities (1,884 ) (1,537 ) (1,885 ) 3,422 (1,884 ) Impairments — — — — — Pension and other postretirement benefits liability (1 ) — (1 ) 1 (1 ) Other comprehensive income (loss), before tax (1,885 ) (1,537 ) (1,886 ) 3,423 (1,885 ) Income tax expense (benefit) related to items of other comprehensive income (loss) (395 ) (323 ) (396 ) 719 (395 ) Other comprehensive income (loss), after tax (1,490 ) (1,214 ) (1,490 ) 2,704 (1,490 ) Comprehensive income (loss) (1,574 ) (1,082 ) (1,516 ) 2,604 (1,568 ) Less: Comprehensive income (loss) attributable to noncontrolling interest — — 6 — 6 Comprehensive income (loss) attributable to Voya Financial, Inc. $ (1,574 ) $ (1,082 ) $ (1,522 ) $ 2,604 $ (1,574 ) Condensed Consolidating Statement of Comprehensive Income For the Three Months Ended March 31, 2019 Parent Issuer Subsidiary Guarantor Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated Net income (loss) $ 74 $ (16 ) $ 177 $ (162 ) $ 73 Other comprehensive income (loss), before tax: Unrealized gains (losses) on securities 1,284 1,036 1,284 (2,320 ) 1,284 Impairments 1 1 1 (2 ) 1 Pension and other postretirement benefits liability (1 ) — (1 ) 1 (1 ) Other comprehensive income (loss), before tax 1,284 1,037 1,284 (2,321 ) 1,284 Income tax expense (benefit) related to items of other comprehensive income (loss) 268 216 268 (484 ) 268 Other comprehensive income (loss), after tax 1,016 821 1,016 (1,837 ) 1,016 Comprehensive income (loss) 1,090 805 1,193 (1,999 ) 1,089 Less: Comprehensive income (loss) attributable to noncontrolling interest — — (1 ) — (1 ) Comprehensive income (loss) attributable to Voya Financial, Inc. $ 1,090 $ 805 $ 1,194 $ (1,999 ) $ 1,090
Schedule of Condensed Consolidating Statement of Cash Flows	Condensed Consolidating Statement of Cash Flows For the Three Months Ended March 31, 2020 Parent Issuer Subsidiary Guarantor Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated Net cash (used in) provided by operating activities $ (27 ) $ 13 $ (35 ) $ (27 ) $ (76 ) Cash Flows from Investing Activities: Proceeds from the sale, maturity, disposal or redemption of: Fixed maturities — — 1,185 — 1,185 Equity securities — — 2 — 2 Mortgage loans on real estate — — 144 — 144 Limited partnerships/corporations — — 71 — 71 Acquisition of: Fixed maturities — — (1,537 ) — (1,537 ) Equity securities — — (1 ) — (1 ) Mortgage loans on real estate — — (234 ) — (234 ) Limited partnerships/corporations — — (112 ) — (112 ) Short-term investments, net — — (12 ) — (12 ) Derivatives, net — — 174 — 174 Sales from consolidated investments entities — — 63 — 63 Purchases within consolidated investment entities — — (206 ) — (206 ) Maturity (issuance) of short-term intercompany loans, net (81 ) — (557 ) 638 — Return of capital contributions and dividends from subsidiaries — 7 — (7 ) — Collateral received (delivered), net (28 ) — (68 ) — (96 ) Other, net — — (11 ) — (11 ) Net cash used in investing activities - discontinued operations — — (241 ) — (241 ) Net cash (used in) provided by investing activities (109 ) 7 (1,340 ) 631 (811 ) Condensed Consolidating Statement of Cash Flows (Continued) For the Three Months Ended March 31, 2020 Parent Issuer Subsidiary Guarantor Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated Cash Flows from Financing Activities: Deposits received for investment contracts — — 2,038 — 2,038 Maturities and withdrawals from investment contracts — — (1,399 ) — (1,399 ) Settlements on deposit contracts — — (2 ) — (2 ) Net proceeds from (repayments of) short-term intercompany loans 557 (20 ) 101 (638 ) — Return of capital contributions and dividends to parent — — (34 ) 34 — Borrowings of consolidated investment entities — — 122 — 122 Repayments of borrowings of consolidated investment entities — — (176 ) — (176 ) Contributions from (distributions to) participants in consolidated investment entities — — 348 — 348 Proceeds from issuance of common stock, net 2 — — — 2 Share-based compensation (14 ) — — — (14 ) Common stock acquired - Share repurchase (366 ) — — — (366 ) Dividends paid on common stock (20 ) — — — (20 ) Dividends paid on preferred stock (14 ) — — — (14 ) Principal payments for financing leases — — (5 ) — (5 ) Net cash provided by financing activities - discontinued operations — — 213 — 213 Net cash provided by (used in) financing activities 145 (20 ) 1,206 (604 ) 727 Net increase (decrease) in cash and cash equivalents 9 — (169 ) — (160 ) Cash and cash equivalents, beginning of period 212 — 1,260 — 1,472 Cash and cash equivalents, end of period 221 — 1,091 — 1,312 Less: Cash and cash equivalents of discontinued operations, end of period — — 279 — 279 Cash and cash equivalents of continuing operations, end of period $ 221 $ — $ 812 $ — $ 1,033 Condensed Consolidating Statement of Cash Flows For the Three Months Ended March 31, 2019 Parent Issuer Subsidiary Guarantor Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated Net cash (used in) provided by operating activities $ (42 ) $ 16 $ 183 $ (26 ) $ 131 Cash Flows from Investing Activities: Proceeds from the sale, maturity, disposal or redemption of: Fixed maturities — — 2,078 — 2,078 Equity securities 7 — 2 — 9 Mortgage loans on real estate — — 307 — 307 Limited partnerships/corporations — — 37 — 37 Acquisition of: Fixed maturities — — (2,035 ) — (2,035 ) Equity securities (17 ) — (1 ) — (18 ) Mortgage loans on real estate — — (155 ) — (155 ) Limited partnerships/corporations — — (60 ) — (60 ) Short-term investments, net — — (9 ) — (9 ) Derivatives, net — — 45 — 45 Sales from consolidated investments entities — — 57 — 57 Purchases within consolidated investment entities — — (91 ) — (91 ) Maturity (issuance) of short-term intercompany loans, net (71 ) — (200 ) 271 — Return of capital contributions and dividends from subsidiaries 200 4 — (204 ) — Collateral received (delivered), net — — (107 ) — (107 ) Other, net — — (26 ) — (26 ) Net cash used in investing activities - discontinued operations — — (76 ) — (76 ) Net cash provided by (used in) investing activities 119 4 (234 ) 67 (44 ) Condensed Consolidating Statement of Cash Flows (Continued) For the Three Months Ended March 31, 2019 Parent Issuer Subsidiary Guarantor Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated Cash Flows from Financing Activities: Deposits received for investment contracts — — 1,076 — 1,076 Maturities and withdrawals from investment contracts — — (1,525 ) — (1,525 ) Settlements on deposit contracts — — (2 ) — (2 ) Net (repayments of) proceeds from short-term intercompany loans 200 8 63 (271 ) — Return of capital contributions and dividends to parent — (30 ) (200 ) 230 — Borrowings of consolidated investment entities — — 36 — 36 Contributions from (distributions to) participants in consolidated investment entities, net — — (25 ) — (25 ) Proceeds from issuance of common stock, net 2 — — — 2 Share-based compensation (15 ) — — — (15 ) Common stock acquired - Share repurchase (250 ) — — — (250 ) Dividends paid on common stock (1 ) — — — (1 ) Dividends paid on preferred stock (10 ) — — — (10 ) Net cash provided by financing activities - discontinued operations — — 122 — 122 Net cash used in financing activities (74 ) (22 ) (455 ) (41 ) (592 ) Net increase (decrease) in cash and cash equivalents 3 (2 ) (506 ) — (505 ) Cash and cash equivalents, beginning of period 209 2 1,327 — 1,538 Cash and cash equivalents, end of period 212 — 821 — 1,033 Less: Cash and cash equivalents of discontinued operations, end of period — — 227 — 227 Cash and cash equivalents of continuing operations, end of period $ 212 $ — $ 594 $ — $ 806

Business, Basis of Presentati_3

Business, Basis of Presentation and Significant Accounting Policies - Narrative (Details)	3 Months Ended
	Mar. 31, 2020segments	Jun. 01, 2018subsidiary
Number of operating segments | segments	3
Discontinued Operations, Held-for-sale | 2018 Transaction
Number of subsidiaries to be discontinued | subsidiary		2

Business, Basis of Presentati_4

Business, Basis of Presentation and Significant Accounting Policies - Adoption of New Pronouncements (Details) - Accounting Standards Update 2016-13 $ in Millions	Jan. 01, 2020USD ($)
Unappropriated
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adjustment for adoption of ASU	$ (33)
Mortgage loans on real estate
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adjustment for adoption of ASU	19
Reinsurance Recoverables
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adjustment for adoption of ASU	28
deferred policy acquisition cost
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adjustment for adoption of ASU	5
Deferred Income Tax Charge
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adjustment for adoption of ASU	$ 9

Business Held for Sale and Di_3

Business Held for Sale and Discontinued Operations - Held for Sale Balance Sheets (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Investments:
Mortgage loans on real estate, allowance for credit losses	$ 22	$ 0
Premium receivable and reinsurance recoverable, allowance for credit losses	22	0
Total assets held for sale	19,133	20,069
Liabilities:
Total liabilities held for sale	17,972	18,498
Discontinued Operations, Held-for-sale | Individual Life Transaction
Investments:
Fixed maturities, available-for-sale, at fair value	11,097	11,483
Fixed maturities, at fair value using the fair value option	747	752
Mortgage loans on real estate, net of allowance for credit losses of $3 as of 2020	1,306	1,319
Mortgage loans on real estate, allowance for credit losses	3
Policy loans	1,006	1,005
Derivatives	148	304
Other investments	423	430
Securities pledged	209	235
Total investments	14,936	15,528
Cash and cash equivalents	279	291
Short-term investments under securities loan agreements, including collateral delivered	191	216
Premium receivable and reinsurance recoverable, net allowance for credit losses of $13 as of 2020	3,102	3,101
Premium receivable and reinsurance recoverable, allowance for credit losses	13
Deferred policy acquisition costs and Value of business acquired	771	607
Current income taxes	136	136
Deferred income taxes	(664)	(757)
Other assets	441	570
Assets held in separate accounts	1,212	1,485
Write-down of businesses held for sale to fair value less cost to sell	(1,271)	(1,108)
Total assets held for sale	19,133	20,069
Liabilities:
Future policy benefits and contract owner account balances	15,389	15,472
Payables under securities loan and repurchase agreements, including collateral held	265	428
Derivatives	58	77
Notes payable	252	252
Other liabilities	796	784
Liabilities related to separate accounts	1,212	1,485
Total liabilities held for sale	$ 17,972	$ 18,498

Business Held for Sale and Di_4

Business Held for Sale and Discontinued Operations - Narrative (Details) - Discontinued Operations, Held-for-sale $ in Millions	Sep. 30, 2020USD ($)subsidiary	Mar. 31, 2020USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2019USD ($)	Dec. 18, 2019USD ($)	Jun. 01, 2018subsidiary
Individual Life Transaction
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Reverse termination fee payable if Resolution MTA is terminated in prescribed circumstances related to failure to provide a committed financing facility					$ 100
Reverse termination fee payable if Resolution MTA is terminated in prescribed circumstances related to failure to obtain certain approvals or consents					$ 20
Estimated loss on sale, net of tax		$ 1,271		$ 1,108
Loss on sale, net of tax		(163)	$ 0
2018 Transaction
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of subsidiaries to be discontinued | subsidiary						2
Additional loss on sale			$ 79
Forecast | Subsequent Event | Individual Life Transaction
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of subsidiaries to be discontinued | subsidiary	5
Purchase price	$ 1,250
Cash consideration	902
Equity interest in RLGH	225
Principal amount in surplus notes that will be retained by the Company	123
Maximum amount of financial obligations guaranteed under limited guarantee provided by RLGH	$ 1,300
RLI and VRIAC | SLD | Forecast | Subsequent Event | Individual Life Transaction
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Reinsurance agreement, reinsurance quota share, percent of respective individual life insurance and annuities of businesses	100.00%
RLNY | SLD | Individual Life Transaction
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Reinsurance agreement, reserves expected to be ceded		$ 11,000
RLNY | SLD | Forecast | Subsequent Event | Individual Life Transaction
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Reinsurance agreement, reinsurance quota share, percent of respective individual life insurance and annuities of businesses	75.00%

Business Held for Sale and Di_5

Business Held for Sale and Discontinued Operations - Discontinued Operations Income Statements (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Benefits, Losses and Expenses [Abstract]
Income (loss) from discontinued operations, net of tax	$ (128)	$ (20)
Discontinued Operations, Held-for-sale
Benefits, Losses and Expenses [Abstract]
Income (loss) from discontinued operations, net of tax	(128)	(20)
Individual Life Transaction | Discontinued Operations, Held-for-sale
Revenues [Abstract]
Net investment income	169	157
Fee income	174	187
Premiums	7	7
Total net realized capital gains (losses)	(26)	29
Other revenue	(2)	0
Total revenues	322	380
Benefits, Losses and Expenses [Abstract]
Interest credited and other benefits to contract owners/policyholders	238	251
Operating expenses	26	24
Net amortization of Deferred policy acquisition costs and Value of business acquired	12	29
Interest expense	2	2
Total benefits and expenses	278	306
Income (loss) from discontinued operations before income taxes	44	74
Income tax expense (benefit)	9	15
Loss on sale, net of tax	(163)	0
Income (loss) from discontinued operations, net of tax	(128)	59
2018 Transaction | Discontinued Operations, Held-for-sale
Benefits, Losses and Expenses [Abstract]
Income (loss) from discontinued operations, net of tax	$ 0	$ (79)

Investments (excluding Consol_3

Investments (excluding Consolidated Investment Entities) - Fixed Maturities (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Available-for-sale Securities, Including Securities Pledged [Line Items]
Fixed maturities, amortized cost	$ 35,955	$ 35,836
Fixed maturities, including securities pledged, Fair Value	37,584	39,663
Securities pledged, amortized costs	1,416	1,264
U.S. Treasuries
Available-for-sale Securities, Including Securities Pledged [Line Items]
Fixed maturities, amortized cost	1,076	1,074
Fixed maturities, Gross Unrealized Capital Gains	519	308
Fixed maturities, Gross Unrealized Capital Losses	0	0
Embedded Derivatives	0	0
Fixed maturities, including securities pledged, Fair Value	1,595	1,382
OTTI	0	0
U.S. Government agencies and authorities
Available-for-sale Securities, Including Securities Pledged [Line Items]
Fixed maturities, amortized cost	73	74
Fixed maturities, Gross Unrealized Capital Gains	27	21
Fixed maturities, Gross Unrealized Capital Losses	0	0
Embedded Derivatives	0	0
Fixed maturities, including securities pledged, Fair Value	100	95
OTTI	0	0
State, municipalities and political subdivisions
Available-for-sale Securities, Including Securities Pledged [Line Items]
Fixed maturities, amortized cost	1,213	1,220
Fixed maturities, Gross Unrealized Capital Gains	105	103
Fixed maturities, Gross Unrealized Capital Losses	3	0
Embedded Derivatives	0	0
Fixed maturities, including securities pledged, Fair Value	1,315	1,323
OTTI	0	0
U.S. corporate public securities
Available-for-sale Securities, Including Securities Pledged [Line Items]
Fixed maturities, amortized cost	12,721	12,980
Fixed maturities, Gross Unrealized Capital Gains	1,537	1,977
Fixed maturities, Gross Unrealized Capital Losses	302	19
Embedded Derivatives	0	0
Fixed maturities, including securities pledged, Fair Value	13,956	14,938
OTTI	0	0
U.S. corporate private securities
Available-for-sale Securities, Including Securities Pledged [Line Items]
Fixed maturities, amortized cost	5,519	5,568
Fixed maturities, Gross Unrealized Capital Gains	254	488
Fixed maturities, Gross Unrealized Capital Losses	130	21
Embedded Derivatives	0	0
Fixed maturities, including securities pledged, Fair Value	5,643	6,035
OTTI	0	0
Foreign corporate public securities and foreign governments
Available-for-sale Securities, Including Securities Pledged [Line Items]
Fixed maturities, amortized cost	3,875	3,887
Fixed maturities, Gross Unrealized Capital Gains	251	460
Fixed maturities, Gross Unrealized Capital Losses	120	6
Embedded Derivatives	0	0
Fixed maturities, including securities pledged, Fair Value	4,006	4,341
OTTI	0	0
Foreign corporate private securities
Available-for-sale Securities, Including Securities Pledged [Line Items]
Fixed maturities, amortized cost	4,522	4,545
Fixed maturities, Gross Unrealized Capital Gains	87	288
Fixed maturities, Gross Unrealized Capital Losses	189	2
Embedded Derivatives	0	0
Fixed maturities, including securities pledged, Fair Value	4,416	4,831
OTTI	4	0
Residential mortgage-backed
Available-for-sale Securities, Including Securities Pledged [Line Items]
Fixed maturities, amortized cost	5,515	4,999
Fixed maturities, Gross Unrealized Capital Gains	227	200
Fixed maturities, Gross Unrealized Capital Losses	162	14
Embedded Derivatives	27	19
Fixed maturities, including securities pledged, Fair Value	5,607	5,204
OTTI	0	5
Commercial mortgage-backed securities
Available-for-sale Securities, Including Securities Pledged [Line Items]
Fixed maturities, amortized cost	3,629	3,402
Fixed maturities, Gross Unrealized Capital Gains	186	176
Fixed maturities, Gross Unrealized Capital Losses	330	4
Embedded Derivatives	0	0
Fixed maturities, including securities pledged, Fair Value	3,484	3,574
OTTI	1	0
Other asset-backed securities
Available-for-sale Securities, Including Securities Pledged [Line Items]
Fixed maturities, amortized cost	2,083	2,058
Fixed maturities, Gross Unrealized Capital Gains	9	22
Fixed maturities, Gross Unrealized Capital Losses	218	25
Embedded Derivatives	0	0
Fixed maturities, including securities pledged, Fair Value	1,872	2,055
OTTI	2	1
Fixed maturities
Available-for-sale Securities, Including Securities Pledged [Line Items]
Fixed maturities, amortized cost	40,226	39,807
Fixed maturities, Gross Unrealized Capital Gains	3,202	4,043
Fixed maturities, Gross Unrealized Capital Losses	1,454	91
Embedded Derivatives	27	19
Fixed maturities, including securities pledged, Fair Value	41,994	43,778
OTTI	7	6
Total fixed maturities, less securities pledged, Amortized Cost	38,810	38,543
Total fixed maturities, less securities pledged, Gross Unrealized Capital Gains	3,001	3,889
Total fixed maturities, less securities pledged, Gross Unrealized Capital Losses	1,392	81
Total fixed maturities, less securities pledged, Fair Value	40,439	42,370
Impaired available-for-sale securities
Available-for-sale Securities, Including Securities Pledged [Line Items]
Net unrealized gains on impaired available-for-sale securities		336
Collateral Pledged
Available-for-sale Securities, Including Securities Pledged [Line Items]
Securities pledged	1,555	1,408
Collateral Pledged | Fixed maturities
Available-for-sale Securities, Including Securities Pledged [Line Items]
Embedded Derivatives	0	0
OTTI	0	0
Securities pledged, amortized costs	1,416	1,264
Securities pledged, Gross Unrealized Capital Gains	201	154
Securities pledged, Gross Unrealized Capital Losses	62	10
Securities pledged	$ 1,555	$ 1,408

Investments (excluding Consol_4

Investments (excluding Consolidated Investment Entities) - Debt Maturities (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Available-for-sale Securities, Including Securities Pledged [Line Items]
Fixed maturities, including securities pledged, Amortized Cost	$ 35,955	$ 35,836
Fixed maturities, including securities pledged, Fair Value	37,584	39,663
Fixed maturities
Available-for-sale Securities, Including Securities Pledged [Line Items]
One year or less, Amortized Cost	1,224
One year or less, Fair Value	1,227
After one year through five years, Amortized Cost	5,035
After one year through five years, Fair Value	5,019
After five years through ten years, Amortized Cost	7,998
After five years through ten years, Fair Value	8,117
After ten years, Amortized Cost	14,742
After ten years, Fair Value	16,668
Fixed maturities, including securities pledged, Amortized Cost	40,226	39,807
Fixed maturities, including securities pledged, Fair Value	$ 41,994	$ 43,778
Mortgage-backed securities
Available-for-sale Securities, Including Securities Pledged [Line Items]
Percent collateralized mortgage backed securities including interest-only strip or principal-only strip	44.70%	43.40%
Without single maturity date, Amortized Cost	$ 9,144
Without single maturity date, Fair Value	9,091
Other asset-backed securities
Available-for-sale Securities, Including Securities Pledged [Line Items]
Without single maturity date, Amortized Cost	2,083
Without single maturity date, Fair Value	1,872
Fixed maturities, including securities pledged, Amortized Cost	2,083	$ 2,058
Fixed maturities, including securities pledged, Fair Value	$ 1,872	$ 2,055

Investments (excluding Consol_5

Investments (excluding Consolidated Investment Entities) - Composition of US and Foreign Corporate Securities (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Available-for-sale Securities, Including Securities Pledged [Line Items]
Fixed maturities, amortized cost	$ 35,955	$ 35,836
Fixed maturities, available-for-sale, at fair value	37,584	39,663
Communications
Available-for-sale Securities, Including Securities Pledged [Line Items]
Fixed maturities, amortized cost	1,653	1,694
Gross Unrealized Capital Gains	227	295
Gross Unrealized Capital Losses	6	0
Fixed maturities, available-for-sale, at fair value	1,874	1,989
Financial
Available-for-sale Securities, Including Securities Pledged [Line Items]
Fixed maturities, amortized cost	4,013	4,067
Gross Unrealized Capital Gains	365	535
Gross Unrealized Capital Losses	46	1
Fixed maturities, available-for-sale, at fair value	4,332	4,601
Industrial and other companies
Available-for-sale Securities, Including Securities Pledged [Line Items]
Fixed maturities, amortized cost	11,511	11,669
Gross Unrealized Capital Gains	973	1,274
Gross Unrealized Capital Losses	248	16
Fixed maturities, available-for-sale, at fair value	12,236	12,927
Energy
Available-for-sale Securities, Including Securities Pledged [Line Items]
Fixed maturities, amortized cost	2,692	2,819
Gross Unrealized Capital Gains	103	368
Gross Unrealized Capital Losses	294	27
Fixed maturities, available-for-sale, at fair value	2,501	3,160
Utilities
Available-for-sale Securities, Including Securities Pledged [Line Items]
Fixed maturities, amortized cost	4,921	4,895
Gross Unrealized Capital Gains	358	561
Gross Unrealized Capital Losses	77	1
Fixed maturities, available-for-sale, at fair value	5,202	5,455
Transportation
Available-for-sale Securities, Including Securities Pledged [Line Items]
Fixed maturities, amortized cost	1,209	1,206
Gross Unrealized Capital Gains	63	116
Gross Unrealized Capital Losses	49	2
Fixed maturities, available-for-sale, at fair value	1,223	1,320
Total
Available-for-sale Securities, Including Securities Pledged [Line Items]
Fixed maturities, amortized cost	25,999	26,350
Gross Unrealized Capital Gains	2,089	3,149
Gross Unrealized Capital Losses	720	47
Fixed maturities, available-for-sale, at fair value	$ 27,368	$ 29,452

Investments (excluding Consol_6

Investments (excluding Consolidated Investment Entities) - Fixed Maturities and Equity Securities, Repurchase Agreements and Securities Lending (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Available-for-sale Securities, Including Securities Pledged [Line Items]
Initial collateral required, percent of market value of loaned securities	102.00%
Securities received as collateral	$ 126	$ 146
Payables under securities loan and repurchase agreements, including collateral held	2,065	1,373
Securities pledged as collateral
Available-for-sale Securities, Including Securities Pledged [Line Items]
Securities Pledged under repurchase agreements, carrying value	72	66
Fair value of loaned securities	1,273	1,159
Short-term Investments
Available-for-sale Securities, Including Securities Pledged [Line Items]
Securities received as collateral	1,179	1,055
Cash collateral, included in Payables
Available-for-sale Securities, Including Securities Pledged [Line Items]
Payables under securities loan and repurchase agreements, including collateral held	$ 1,179	$ 1,055
Mortgage-backed securities
Available-for-sale Securities, Including Securities Pledged [Line Items]
Percent collateralized mortgage backed securities including interest-only strip or principal-only strip	44.70%	43.40%
U.S. Treasuries
Available-for-sale Securities, Including Securities Pledged [Line Items]
Payables under securities loan and repurchase agreements, including collateral held	$ 204	$ 213
U.S. Government agencies and authorities
Available-for-sale Securities, Including Securities Pledged [Line Items]
Payables under securities loan and repurchase agreements, including collateral held	50	15
U.S. corporate public securities
Available-for-sale Securities, Including Securities Pledged [Line Items]
Payables under securities loan and repurchase agreements, including collateral held	729	684
Foreign corporate public securities and foreign governments
Available-for-sale Securities, Including Securities Pledged [Line Items]
Payables under securities loan and repurchase agreements, including collateral held	322	289
Payables under securities loan agreements
Available-for-sale Securities, Including Securities Pledged [Line Items]
Payables under securities loan and repurchase agreements, including collateral held	$ 1,305	$ 1,201

Investments (excluding Consol_7

Investments (excluding Consolidated Investment Entities) - Allowance for Credit Losses (Details) $ in Millions	3 Months Ended
	Mar. 31, 2020USD ($)
Allowance for Loan and Lease Losses [Roll Forward]
Balance as of January 1	$ 0
Credit losses on securities for which credit losses were not previously recorded	7
Initial allowance for credit losses recognized on financial assets accounted for as PCD	0
Reductions for securities sold during the period	0
Reductions for intent to sell or more likely than not will be required to sell securities prior to recovery of amortized cost	0
Increase (decrease) on securities with allowance recorded in previous period	0
Write-offs	0
Recoveries of amounts previously written off	0
Balance as of March 31	7
Residential mortgage-backed securities
Allowance for Loan and Lease Losses [Roll Forward]
Balance as of January 1	0
Credit losses on securities for which credit losses were not previously recorded	0
Initial allowance for credit losses recognized on financial assets accounted for as PCD	0
Reductions for securities sold during the period	0
Reductions for intent to sell or more likely than not will be required to sell securities prior to recovery of amortized cost	0
Increase (decrease) on securities with allowance recorded in previous period	0
Write-offs	0
Recoveries of amounts previously written off	0
Balance as of March 31	0
Commercial mortgage-backed securities
Allowance for Loan and Lease Losses [Roll Forward]
Balance as of January 1	0
Credit losses on securities for which credit losses were not previously recorded	1
Initial allowance for credit losses recognized on financial assets accounted for as PCD	0
Reductions for securities sold during the period	0
Reductions for intent to sell or more likely than not will be required to sell securities prior to recovery of amortized cost	0
Increase (decrease) on securities with allowance recorded in previous period	0
Write-offs	0
Recoveries of amounts previously written off	0
Balance as of March 31	1
Foreign corporate private securities
Allowance for Loan and Lease Losses [Roll Forward]
Balance as of January 1	0
Credit losses on securities for which credit losses were not previously recorded	4
Initial allowance for credit losses recognized on financial assets accounted for as PCD	0
Reductions for securities sold during the period	0
Reductions for intent to sell or more likely than not will be required to sell securities prior to recovery of amortized cost	0
Increase (decrease) on securities with allowance recorded in previous period	0
Write-offs	0
Recoveries of amounts previously written off	0
Balance as of March 31	4
Other asset-backed securities
Allowance for Loan and Lease Losses [Roll Forward]
Balance as of January 1	0
Credit losses on securities for which credit losses were not previously recorded	2
Initial allowance for credit losses recognized on financial assets accounted for as PCD	0
Reductions for securities sold during the period	0
Reductions for intent to sell or more likely than not will be required to sell securities prior to recovery of amortized cost	0
Increase (decrease) on securities with allowance recorded in previous period	0
Write-offs	0
Recoveries of amounts previously written off	0
Balance as of March 31	$ 2

Investments (excluding Consol_8

Investments (excluding Consolidated Investment Entities) - Unrealized Capital Losses (Details) $ in Millions	Mar. 31, 2020USD ($)security	Dec. 31, 2019USD ($)security
Available-for-sale Securities, Including Securities Pledged [Line Items]
Twelve months or less below amortized cost, Fair Value	$ 11,879	$ 1,823
Twelve months or less below amortized cost, Unrealized Capital Loss	$ 1,293	$ 21
Twelve months or less below amortized cost, total number of securities in an unrealized loss position | security	1,899	334
More than twelve months below amortized cost, Fair Value	$ 702	$ 1,450
More than twelve months below amortized cost, Unrealized Capital Loss	$ 161	$ 70
More than twelve months below amortized cost, total number of securities in an unrealized loss position | security	227	338
Total, Fair Value	$ 12,581	$ 3,273
Total Unrealized Capital Losses	$ 1,454	$ 91
Total number of securities in an unrealized loss position | security	2,126	672
U.S. Treasuries
Available-for-sale Securities, Including Securities Pledged [Line Items]
Twelve months or less below amortized cost, Fair Value		$ 2
Twelve months or less below amortized cost, Unrealized Capital Loss		0
More than twelve months below amortized cost, Fair Value		21
More than twelve months below amortized cost, Unrealized Capital Loss		0
Total, Fair Value		23
Total Unrealized Capital Losses		0
State, municipalities and political subdivisions
Available-for-sale Securities, Including Securities Pledged [Line Items]
Twelve months or less below amortized cost, Fair Value	$ 66	25
Twelve months or less below amortized cost, Unrealized Capital Loss	$ 3	0
Twelve months or less below amortized cost, total number of securities in an unrealized loss position | security	22
More than twelve months below amortized cost, Fair Value	$ 1	1
More than twelve months below amortized cost, Unrealized Capital Loss	$ 0	0
More than twelve months below amortized cost, total number of securities in an unrealized loss position | security	1
Total, Fair Value	$ 67	26
Total Unrealized Capital Losses	$ 3	0
Total number of securities in an unrealized loss position | security	23
U.S. corporate public securities
Available-for-sale Securities, Including Securities Pledged [Line Items]
Twelve months or less below amortized cost, Fair Value	$ 2,350	122
Twelve months or less below amortized cost, Unrealized Capital Loss	$ 288	3
Twelve months or less below amortized cost, total number of securities in an unrealized loss position | security	452
More than twelve months below amortized cost, Fair Value	$ 30	199
More than twelve months below amortized cost, Unrealized Capital Loss	$ 14	16
More than twelve months below amortized cost, total number of securities in an unrealized loss position | security	8
Total, Fair Value	$ 2,380	321
Total Unrealized Capital Losses	$ 302	19
Total number of securities in an unrealized loss position | security	460
U.S. corporate private securities
Available-for-sale Securities, Including Securities Pledged [Line Items]
Twelve months or less below amortized cost, Fair Value	$ 1,362	113
Twelve months or less below amortized cost, Unrealized Capital Loss	$ 89	1
Twelve months or less below amortized cost, total number of securities in an unrealized loss position | security	110
More than twelve months below amortized cost, Fair Value	$ 116	195
More than twelve months below amortized cost, Unrealized Capital Loss	$ 41	20
More than twelve months below amortized cost, total number of securities in an unrealized loss position | security	11
Total, Fair Value	$ 1,478	308
Total Unrealized Capital Losses	$ 130	21
Total number of securities in an unrealized loss position | security	121
Foreign corporate public securities and foreign governments
Available-for-sale Securities, Including Securities Pledged [Line Items]
Twelve months or less below amortized cost, Fair Value	$ 1,078	15
Twelve months or less below amortized cost, Unrealized Capital Loss	$ 112	0
Twelve months or less below amortized cost, total number of securities in an unrealized loss position | security	224
More than twelve months below amortized cost, Fair Value	$ 37	103
More than twelve months below amortized cost, Unrealized Capital Loss	$ 8	6
More than twelve months below amortized cost, total number of securities in an unrealized loss position | security	8
Total, Fair Value	$ 1,115	118
Total Unrealized Capital Losses	$ 120	6
Total number of securities in an unrealized loss position | security	232
Foreign corporate private securities
Available-for-sale Securities, Including Securities Pledged [Line Items]
Twelve months or less below amortized cost, Fair Value	$ 2,100	36
Twelve months or less below amortized cost, Unrealized Capital Loss	$ 178	0
Twelve months or less below amortized cost, total number of securities in an unrealized loss position | security	144
More than twelve months below amortized cost, Fair Value	$ 52	78
More than twelve months below amortized cost, Unrealized Capital Loss	$ 11	2
More than twelve months below amortized cost, total number of securities in an unrealized loss position | security	6
Total, Fair Value	$ 2,152	114
Total Unrealized Capital Losses	$ 189	2
Total number of securities in an unrealized loss position | security	150
Residential mortgage-backed
Available-for-sale Securities, Including Securities Pledged [Line Items]
Twelve months or less below amortized cost, Fair Value	$ 1,870	730
Twelve months or less below amortized cost, Unrealized Capital Loss	$ 145	8
Twelve months or less below amortized cost, total number of securities in an unrealized loss position | security	357
More than twelve months below amortized cost, Fair Value	$ 130	194
More than twelve months below amortized cost, Unrealized Capital Loss	$ 17	6
More than twelve months below amortized cost, total number of securities in an unrealized loss position | security	77
Total, Fair Value	$ 2,000	924
Total Unrealized Capital Losses	$ 162	14
Total number of securities in an unrealized loss position | security	434
Commercial mortgage-backed securities
Available-for-sale Securities, Including Securities Pledged [Line Items]
Twelve months or less below amortized cost, Fair Value	$ 1,836	472
Twelve months or less below amortized cost, Unrealized Capital Loss	$ 330	4
Twelve months or less below amortized cost, total number of securities in an unrealized loss position | security	307
More than twelve months below amortized cost, Fair Value	$ 0	18
More than twelve months below amortized cost, Unrealized Capital Loss	$ 0	0
More than twelve months below amortized cost, total number of securities in an unrealized loss position | security	0
Total, Fair Value	$ 1,836	490
Total Unrealized Capital Losses	$ 330	4
Total number of securities in an unrealized loss position | security	307
Other asset-backed securities
Available-for-sale Securities, Including Securities Pledged [Line Items]
Twelve months or less below amortized cost, Fair Value	$ 1,217	308
Twelve months or less below amortized cost, Unrealized Capital Loss	$ 148	5
Twelve months or less below amortized cost, total number of securities in an unrealized loss position | security	283
More than twelve months below amortized cost, Fair Value	$ 336	641
More than twelve months below amortized cost, Unrealized Capital Loss	$ 70	20
More than twelve months below amortized cost, total number of securities in an unrealized loss position | security	116
Total, Fair Value	$ 1,553	949
Total Unrealized Capital Losses	$ 218	$ 25
Total number of securities in an unrealized loss position | security	399

Investments (excluding Consol_9

Investments (excluding Consolidated Investment Entities) - Unrealized Capital Losses 1 (Details) $ in Millions	3 Months Ended
	Mar. 31, 2020USD ($)security	Dec. 31, 2019USD ($)security
Available-for-sale Securities, Including Securities Pledged [Line Items]
Available-for-sale Securities, change in loss position	$ 1,363
Total Unrealized Capital Losses	1,454	$ 91
More than twelve months below amortized cost, Unrealized Capital Loss	$ 161	$ 70
More than twelve months below amortized cost, Number of Securities | security	227	338
Fair value decline below amortized cost greater than 20%
Available-for-sale Securities, Including Securities Pledged [Line Items]
More than twelve months below amortized cost, Unrealized Capital Loss	$ 9
More than twelve months below amortized cost, Number of Securities | security	5

Investments (excluding Conso_10

Investments (excluding Consolidated Investment Entities) - OTTI (Details) $ in Millions	3 Months Ended
	Mar. 31, 2020USD ($)security	Mar. 31, 2019USD ($)security
Available-for-sale Securities, Including Securities Pledged [Line Items]
Impairment	$ 20	$ 26
No. of Securities | security	11	20
Write-downs related to credit impairments	$ 0	$ 26
Intent Impairments	20	0
U.S. corporate public securities
Available-for-sale Securities, Including Securities Pledged [Line Items]
Impairment	$ 19	$ 0
No. of Securities | security	2	0
Foreign corporate private securities
Available-for-sale Securities, Including Securities Pledged [Line Items]
Impairment	$ 0	$ 25
No. of Securities | security	0	3
Residential mortgage-backed
Available-for-sale Securities, Including Securities Pledged [Line Items]
Impairment	$ 1	$ 0
No. of Securities | security	8	15
Commercial mortgage-backed securities
Available-for-sale Securities, Including Securities Pledged [Line Items]
Impairment	$ 0	$ 0
No. of Securities | security	1	0
Other asset-backed securities
Available-for-sale Securities, Including Securities Pledged [Line Items]
Impairment	$ 0	$ 1
No. of Securities | security	0	2

Investments (excluding Conso_11

Investments (excluding Consolidated Investment Entities) - Troubled Debt Restructuring (Details) $ in Millions	3 Months Ended
	Mar. 31, 2020loan	Mar. 31, 2019USD ($)loan
Private placement debt
Financing Receivable, Troubled Debt Restructuring [Line Items]
Troubled debt restructuring, number of contracts | loan	0	1
Pre-modification carrying value | $		$ 107
Post-modification carrying value | $		$ 81
Commercial mortgage loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Troubled debt restructuring, number of contracts | loan	0	0

Investments (excluding Conso_12

Investments (excluding Consolidated Investment Entities) - Loans by Loan to Value (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Schedule of Loans by Loan to Value Ratio [Line Items]
Targeted maximum amount of mortgage loans lended, percent of estimated fair value of underlying real estate	75.00%
Benchmark loan to value ratio, greater than indicates unpaid loan amount exceeds underlying collateral	100.00%	100.00%
Benchmark ratio	100.00%	100.00%
Commercial mortgage loans	$ 6,969	$ 6,879
0% - 50%
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	$ 4,502	$ 687
Loan to value ratio, minimum	0.00%	0.00%
Loan to value ratio, maximum	50.00%	50.00%
50% - 60%
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	$ 2,164	$ 1,723
Loan to value ratio, minimum	50.00%	50.00%
Loan to value ratio, maximum	60.00%	60.00%
60% - 70%
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	$ 288	$ 3,710
Loan to value ratio, minimum	60.00%	60.00%
Loan to value ratio, maximum	70.00%	70.00%
70% - 80%
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	$ 15	$ 703
Loan to value ratio, minimum	70.00%	70.00%
Loan to value ratio, maximum	80.00%	80.00%
80% and above
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	$ 0	$ 56
Loan to value ratio, minimum	80.00%	80.00%
Year of Origination 2020
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	$ 227	$ 0
Year of Origination 2020 | 0% - 50%
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	55	0
Year of Origination 2020 | 50% - 60%
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	144	0
Year of Origination 2020 | 60% - 70%
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	28	0
Year of Origination 2020 | 70% - 80%
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	0	0
Year of Origination 2020 | 80% and above
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	0	0
Year of Origination 2019
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	711	723
Year of Origination 2019 | 0% - 50%
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	389	121
Year of Origination 2019 | 50% - 60%
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	208	138
Year of Origination 2019 | 60% - 70%
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	99	227
Year of Origination 2019 | 70% - 80%
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	15	211
Year of Origination 2019 | 80% and above
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	0	26
Year of Origination 2018
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	471	513
Year of Origination 2018 | 0% - 50%
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	206	11
Year of Origination 2018 | 50% - 60%
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	168	141
Year of Origination 2018 | 60% - 70%
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	97	188
Year of Origination 2018 | 70% - 80%
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	0	159
Year of Origination 2018 | 80% and above
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	0	14
Year of Origination 2017
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	1,151	1,160
Year of Origination 2017 | 0% - 50%
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	699	153
Year of Origination 2017 | 50% - 60%
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	434	283
Year of Origination 2017 | 60% - 70%
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	18	697
Year of Origination 2017 | 70% - 80%
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	0	12
Year of Origination 2017 | 80% and above
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	0	15
Year of Origination 2016
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	966	972
Year of Origination 2016 | 0% - 50%
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	630	122
Year of Origination 2016 | 50% - 60%
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	321	221
Year of Origination 2016 | 60% - 70%
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	15	579
Year of Origination 2016 | 70% - 80%
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	0	50
Year of Origination 2016 | 80% and above
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	0	0
Year of Origination 2015
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	799	804
Year of Origination 2015 | 0% - 50%
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	610	39
Year of Origination 2015 | 50% - 60%
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	189	502
Year of Origination 2015 | 60% - 70%
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	0	248
Year of Origination 2015 | 70% - 80%
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	0	15
Year of Origination 2015 | 80% and above
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	0	0
Year of Origination 2014 and prior
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	2,644	2,707
Year of Origination 2014 and prior | 0% - 50%
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	1,913	241
Year of Origination 2014 and prior | 50% - 60%
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	700	438
Year of Origination 2014 and prior | 60% - 70%
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	31	1,771
Year of Origination 2014 and prior | 70% - 80%
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	0	256
Year of Origination 2014 and prior | 80% and above
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	$ 0	$ 1

Investments (excluding Conso_13

Investments (excluding Consolidated Investment Entities) - Loans by Debt Service Coverage Ratio (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	$ 6,969	$ 6,879
1.5x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Debt Service Coverage Ratio, minimum	150.00%	150.00%
1.25x - 1.5x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Debt Service Coverage Ratio, minimum	125.00%	125.00%
Debt Service Coverage Ratio, maximum	150.00%	150.00%
1.0x - 1.25x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Debt Service Coverage Ratio, minimum	100.00%	100.00%
Debt Service Coverage Ratio, maximum	125.00%	125.00%
1.0x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Debt Service Coverage Ratio, maximum	100.00%	100.00%
Year of Origination 2020
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	$ 227	$ 0
Year of Origination 2020 | 1.5x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	167	0
Year of Origination 2020 | 1.25x - 1.5x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	35	0
Year of Origination 2020 | 1.0x - 1.25x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	25	0
Year of Origination 2020 | 1.0x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	0	0
Year of Origination 2020 | Commercial mortgage loans secured by land or construction loans
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	0	0
Year of Origination 2020 | Total
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	227	0
Year of Origination 2019
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	711	723
Year of Origination 2019 | 1.5x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	540	493
Year of Origination 2019 | 1.25x - 1.5x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	106	165
Year of Origination 2019 | 1.0x - 1.25x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	65	66
Year of Origination 2019 | 1.0x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	0	0
Year of Origination 2019 | Commercial mortgage loans secured by land or construction loans
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	0	0
Year of Origination 2019 | Total
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	711	724
Year of Origination 2018
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	471	513
Year of Origination 2018 | 1.5x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	319	351
Year of Origination 2018 | 1.25x - 1.5x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	13	13
Year of Origination 2018 | 1.0x - 1.25x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	98	88
Year of Origination 2018 | 1.0x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	41	61
Year of Origination 2018 | Commercial mortgage loans secured by land or construction loans
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	0	0
Year of Origination 2018 | Total
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	471	513
Year of Origination 2017
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	1,151	1,160
Year of Origination 2017 | 1.5x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	623	608
Year of Origination 2017 | 1.25x - 1.5x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	272	292
Year of Origination 2017 | 1.0x - 1.25x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	176	167
Year of Origination 2017 | 1.0x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	80	93
Year of Origination 2017 | Commercial mortgage loans secured by land or construction loans
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	0	0
Year of Origination 2017 | Total
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	1,151	1,160
Year of Origination 2016
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	966	972
Year of Origination 2016 | 1.5x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	864	873
Year of Origination 2016 | 1.25x - 1.5x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	68	63
Year of Origination 2016 | 1.0x - 1.25x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	30	31
Year of Origination 2016 | 1.0x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	4	4
Year of Origination 2016 | Commercial mortgage loans secured by land or construction loans
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	0	0
Year of Origination 2016 | Total
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	966	971
Year of Origination 2015
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	799	804
Year of Origination 2015 | 1.5x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	744	743
Year of Origination 2015 | 1.25x - 1.5x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	49	50
Year of Origination 2015 | 1.0x - 1.25x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	6	6
Year of Origination 2015 | 1.0x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	0	6
Year of Origination 2015 | Commercial mortgage loans secured by land or construction loans
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	0	0
Year of Origination 2015 | Total
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	799	805
Year of Origination 2014 and prior
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	2,644	2,707
Year of Origination 2014 and prior | 1.5x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	2,232	2,265
Year of Origination 2014 and prior | 1.25x - 1.5x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	218	210
Year of Origination 2014 and prior | 1.0x - 1.25x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	123	139
Year of Origination 2014 and prior | 1.0x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	71	92
Year of Origination 2014 and prior | Commercial mortgage loans secured by land or construction loans
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	0	0
Year of Origination 2014 and prior | Total
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	2,644	2,706
Total | 1.5x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	5,489	5,333
Total | 1.25x - 1.5x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	761	793
Total | 1.0x - 1.25x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	523	497
Total | 1.0x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	196	256
Total | Commercial mortgage loans secured by land or construction loans
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	0	0
Total | Total
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	$ 6,969	$ 6,879

Investments (excluding Conso_14

Investments (excluding Consolidated Investment Entities) - Loans by U.S. Region (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Open Option Contracts Written [Line Items]
Commercial mortgage loans	$ 6,969	$ 6,879
Year of Origination 2020
Open Option Contracts Written [Line Items]
Commercial mortgage loans	227	0
Year of Origination 2020 | Pacific
Open Option Contracts Written [Line Items]
Commercial mortgage loans	32	0
Year of Origination 2020 | South Atlantic
Open Option Contracts Written [Line Items]
Commercial mortgage loans	124	0
Year of Origination 2020 | Middle Atlantic
Open Option Contracts Written [Line Items]
Commercial mortgage loans	17	0
Year of Origination 2020 | West South Central
Open Option Contracts Written [Line Items]
Commercial mortgage loans	23	0
Year of Origination 2020 | Mountain
Open Option Contracts Written [Line Items]
Commercial mortgage loans	15	0
Year of Origination 2020 | East North Central
Open Option Contracts Written [Line Items]
Commercial mortgage loans	8	0
Year of Origination 2020 | New England
Open Option Contracts Written [Line Items]
Commercial mortgage loans	0	0
Year of Origination 2020 | West North Central
Open Option Contracts Written [Line Items]
Commercial mortgage loans	0	0
Year of Origination 2020 | East South Central
Open Option Contracts Written [Line Items]
Commercial mortgage loans	8	0
Year of Origination 2020 | Total
Open Option Contracts Written [Line Items]
Commercial mortgage loans	227	0
Year of Origination 2019
Open Option Contracts Written [Line Items]
Commercial mortgage loans	711	723
Year of Origination 2019 | Pacific
Open Option Contracts Written [Line Items]
Commercial mortgage loans	99	100
Year of Origination 2019 | South Atlantic
Open Option Contracts Written [Line Items]
Commercial mortgage loans	201	200
Year of Origination 2019 | Middle Atlantic
Open Option Contracts Written [Line Items]
Commercial mortgage loans	20	35
Year of Origination 2019 | West South Central
Open Option Contracts Written [Line Items]
Commercial mortgage loans	189	187
Year of Origination 2019 | Mountain
Open Option Contracts Written [Line Items]
Commercial mortgage loans	68	67
Year of Origination 2019 | East North Central
Open Option Contracts Written [Line Items]
Commercial mortgage loans	64	63
Year of Origination 2019 | New England
Open Option Contracts Written [Line Items]
Commercial mortgage loans	18	18
Year of Origination 2019 | West North Central
Open Option Contracts Written [Line Items]
Commercial mortgage loans	14	15
Year of Origination 2019 | East South Central
Open Option Contracts Written [Line Items]
Commercial mortgage loans	38	37
Year of Origination 2019 | Total
Open Option Contracts Written [Line Items]
Commercial mortgage loans	711	722
Year of Origination 2018
Open Option Contracts Written [Line Items]
Commercial mortgage loans	471	513
Year of Origination 2018 | Pacific
Open Option Contracts Written [Line Items]
Commercial mortgage loans	106	106
Year of Origination 2018 | South Atlantic
Open Option Contracts Written [Line Items]
Commercial mortgage loans	156	182
Year of Origination 2018 | Middle Atlantic
Open Option Contracts Written [Line Items]
Commercial mortgage loans	72	73
Year of Origination 2018 | West South Central
Open Option Contracts Written [Line Items]
Commercial mortgage loans	47	47
Year of Origination 2018 | Mountain
Open Option Contracts Written [Line Items]
Commercial mortgage loans	60	60
Year of Origination 2018 | East North Central
Open Option Contracts Written [Line Items]
Commercial mortgage loans	16	16
Year of Origination 2018 | New England
Open Option Contracts Written [Line Items]
Commercial mortgage loans	0	0
Year of Origination 2018 | West North Central
Open Option Contracts Written [Line Items]
Commercial mortgage loans	14	14
Year of Origination 2018 | East South Central
Open Option Contracts Written [Line Items]
Commercial mortgage loans	0	15
Year of Origination 2018 | Total
Open Option Contracts Written [Line Items]
Commercial mortgage loans	471	513
Year of Origination 2017
Open Option Contracts Written [Line Items]
Commercial mortgage loans	1,151	1,160
Year of Origination 2017 | Pacific
Open Option Contracts Written [Line Items]
Commercial mortgage loans	176	177
Year of Origination 2017 | South Atlantic
Open Option Contracts Written [Line Items]
Commercial mortgage loans	127	128
Year of Origination 2017 | Middle Atlantic
Open Option Contracts Written [Line Items]
Commercial mortgage loans	458	464
Year of Origination 2017 | West South Central
Open Option Contracts Written [Line Items]
Commercial mortgage loans	170	171
Year of Origination 2017 | Mountain
Open Option Contracts Written [Line Items]
Commercial mortgage loans	106	107
Year of Origination 2017 | East North Central
Open Option Contracts Written [Line Items]
Commercial mortgage loans	63	63
Year of Origination 2017 | New England
Open Option Contracts Written [Line Items]
Commercial mortgage loans	6	6
Year of Origination 2017 | West North Central
Open Option Contracts Written [Line Items]
Commercial mortgage loans	45	45
Year of Origination 2017 | East South Central
Open Option Contracts Written [Line Items]
Commercial mortgage loans	0	0
Year of Origination 2017 | Total
Open Option Contracts Written [Line Items]
Commercial mortgage loans	1,151	1,161
Year of Origination 2016
Open Option Contracts Written [Line Items]
Commercial mortgage loans	966	972
Year of Origination 2016 | Pacific
Open Option Contracts Written [Line Items]
Commercial mortgage loans	276	277
Year of Origination 2016 | South Atlantic
Open Option Contracts Written [Line Items]
Commercial mortgage loans	180	181
Year of Origination 2016 | Middle Atlantic
Open Option Contracts Written [Line Items]
Commercial mortgage loans	191	193
Year of Origination 2016 | West South Central
Open Option Contracts Written [Line Items]
Commercial mortgage loans	46	47
Year of Origination 2016 | Mountain
Open Option Contracts Written [Line Items]
Commercial mortgage loans	106	107
Year of Origination 2016 | East North Central
Open Option Contracts Written [Line Items]
Commercial mortgage loans	119	119
Year of Origination 2016 | New England
Open Option Contracts Written [Line Items]
Commercial mortgage loans	14	14
Year of Origination 2016 | West North Central
Open Option Contracts Written [Line Items]
Commercial mortgage loans	28	28
Year of Origination 2016 | East South Central
Open Option Contracts Written [Line Items]
Commercial mortgage loans	6	6
Year of Origination 2016 | Total
Open Option Contracts Written [Line Items]
Commercial mortgage loans	966	972
Year of Origination 2015
Open Option Contracts Written [Line Items]
Commercial mortgage loans	799	804
Year of Origination 2015 | Pacific
Open Option Contracts Written [Line Items]
Commercial mortgage loans	223	226
Year of Origination 2015 | South Atlantic
Open Option Contracts Written [Line Items]
Commercial mortgage loans	217	218
Year of Origination 2015 | Middle Atlantic
Open Option Contracts Written [Line Items]
Commercial mortgage loans	171	171
Year of Origination 2015 | West South Central
Open Option Contracts Written [Line Items]
Commercial mortgage loans	42	43
Year of Origination 2015 | Mountain
Open Option Contracts Written [Line Items]
Commercial mortgage loans	54	54
Year of Origination 2015 | East North Central
Open Option Contracts Written [Line Items]
Commercial mortgage loans	68	68
Year of Origination 2015 | New England
Open Option Contracts Written [Line Items]
Commercial mortgage loans	12	12
Year of Origination 2015 | West North Central
Open Option Contracts Written [Line Items]
Commercial mortgage loans	12	12
Year of Origination 2015 | East South Central
Open Option Contracts Written [Line Items]
Commercial mortgage loans	0	0
Year of Origination 2015 | Total
Open Option Contracts Written [Line Items]
Commercial mortgage loans	799	804
Year of Origination 2014 and prior
Open Option Contracts Written [Line Items]
Commercial mortgage loans	2,644	2,707
Year of Origination 2014 and prior | Pacific
Open Option Contracts Written [Line Items]
Commercial mortgage loans	718	741
Year of Origination 2014 and prior | South Atlantic
Open Option Contracts Written [Line Items]
Commercial mortgage loans	541	553
Year of Origination 2014 and prior | Middle Atlantic
Open Option Contracts Written [Line Items]
Commercial mortgage loans	386	390
Year of Origination 2014 and prior | West South Central
Open Option Contracts Written [Line Items]
Commercial mortgage loans	212	224
Year of Origination 2014 and prior | Mountain
Open Option Contracts Written [Line Items]
Commercial mortgage loans	272	275
Year of Origination 2014 and prior | East North Central
Open Option Contracts Written [Line Items]
Commercial mortgage loans	237	242
Year of Origination 2014 and prior | New England
Open Option Contracts Written [Line Items]
Commercial mortgage loans	66	67
Year of Origination 2014 and prior | West North Central
Open Option Contracts Written [Line Items]
Commercial mortgage loans	167	169
Year of Origination 2014 and prior | East South Central
Open Option Contracts Written [Line Items]
Commercial mortgage loans	45	46
Year of Origination 2014 and prior | Total
Open Option Contracts Written [Line Items]
Commercial mortgage loans	2,644	2,707
Total | Pacific
Open Option Contracts Written [Line Items]
Commercial mortgage loans	1,630	1,627
Total | South Atlantic
Open Option Contracts Written [Line Items]
Commercial mortgage loans	1,546	1,462
Total | Middle Atlantic
Open Option Contracts Written [Line Items]
Commercial mortgage loans	1,315	1,326
Total | West South Central
Open Option Contracts Written [Line Items]
Commercial mortgage loans	729	719
Total | Mountain
Open Option Contracts Written [Line Items]
Commercial mortgage loans	681	670
Total | East North Central
Open Option Contracts Written [Line Items]
Commercial mortgage loans	575	571
Total | New England
Open Option Contracts Written [Line Items]
Commercial mortgage loans	116	117
Total | West North Central
Open Option Contracts Written [Line Items]
Commercial mortgage loans	280	283
Total | East South Central
Open Option Contracts Written [Line Items]
Commercial mortgage loans	97	104
Total | Total
Open Option Contracts Written [Line Items]
Commercial mortgage loans	$ 6,969	$ 6,879

Investments (excluding Conso_15

Investments (excluding Consolidated Investment Entities) - Loans by Property Type (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Investment Holdings [Line Items]
Commercial mortgage loans	$ 6,969	$ 6,879
Year of Origination 2020
Investment Holdings [Line Items]
Commercial mortgage loans	227	0
Year of Origination 2020 | Retail
Investment Holdings [Line Items]
Commercial mortgage loans	49	0
Year of Origination 2020 | Industrial
Investment Holdings [Line Items]
Commercial mortgage loans	9	0
Year of Origination 2020 | Apartments
Investment Holdings [Line Items]
Commercial mortgage loans	116	0
Year of Origination 2020 | Office
Investment Holdings [Line Items]
Commercial mortgage loans	53	0
Year of Origination 2020 | Hotel/Motel
Investment Holdings [Line Items]
Commercial mortgage loans	0	0
Year of Origination 2020 | Other
Investment Holdings [Line Items]
Commercial mortgage loans	0	0
Year of Origination 2020 | Mixed Use
Investment Holdings [Line Items]
Commercial mortgage loans	0	0
Year of Origination 2020 | Total
Investment Holdings [Line Items]
Commercial mortgage loans	227	0
Year of Origination 2019
Investment Holdings [Line Items]
Commercial mortgage loans	711	723
Year of Origination 2019 | Retail
Investment Holdings [Line Items]
Commercial mortgage loans	55	55
Year of Origination 2019 | Industrial
Investment Holdings [Line Items]
Commercial mortgage loans	130	130
Year of Origination 2019 | Apartments
Investment Holdings [Line Items]
Commercial mortgage loans	388	400
Year of Origination 2019 | Office
Investment Holdings [Line Items]
Commercial mortgage loans	105	105
Year of Origination 2019 | Hotel/Motel
Investment Holdings [Line Items]
Commercial mortgage loans	33	32
Year of Origination 2019 | Other
Investment Holdings [Line Items]
Commercial mortgage loans	0	0
Year of Origination 2019 | Mixed Use
Investment Holdings [Line Items]
Commercial mortgage loans	0	0
Year of Origination 2019 | Total
Investment Holdings [Line Items]
Commercial mortgage loans	711	722
Year of Origination 2018
Investment Holdings [Line Items]
Commercial mortgage loans	471	513
Year of Origination 2018 | Retail
Investment Holdings [Line Items]
Commercial mortgage loans	78	83
Year of Origination 2018 | Industrial
Investment Holdings [Line Items]
Commercial mortgage loans	121	122
Year of Origination 2018 | Apartments
Investment Holdings [Line Items]
Commercial mortgage loans	206	221
Year of Origination 2018 | Office
Investment Holdings [Line Items]
Commercial mortgage loans	26	46
Year of Origination 2018 | Hotel/Motel
Investment Holdings [Line Items]
Commercial mortgage loans	4	4
Year of Origination 2018 | Other
Investment Holdings [Line Items]
Commercial mortgage loans	36	36
Year of Origination 2018 | Mixed Use
Investment Holdings [Line Items]
Commercial mortgage loans	0	0
Year of Origination 2018 | Total
Investment Holdings [Line Items]
Commercial mortgage loans	471	512
Year of Origination 2017
Investment Holdings [Line Items]
Commercial mortgage loans	1,151	1,160
Year of Origination 2017 | Retail
Investment Holdings [Line Items]
Commercial mortgage loans	141	142
Year of Origination 2017 | Industrial
Investment Holdings [Line Items]
Commercial mortgage loans	550	557
Year of Origination 2017 | Apartments
Investment Holdings [Line Items]
Commercial mortgage loans	267	268
Year of Origination 2017 | Office
Investment Holdings [Line Items]
Commercial mortgage loans	189	190
Year of Origination 2017 | Hotel/Motel
Investment Holdings [Line Items]
Commercial mortgage loans	4	4
Year of Origination 2017 | Other
Investment Holdings [Line Items]
Commercial mortgage loans	0	0
Year of Origination 2017 | Mixed Use
Investment Holdings [Line Items]
Commercial mortgage loans	0	0
Year of Origination 2017 | Total
Investment Holdings [Line Items]
Commercial mortgage loans	1,151	1,161
Year of Origination 2016
Investment Holdings [Line Items]
Commercial mortgage loans	966	972
Year of Origination 2016 | Retail
Investment Holdings [Line Items]
Commercial mortgage loans	178	179
Year of Origination 2016 | Industrial
Investment Holdings [Line Items]
Commercial mortgage loans	309	312
Year of Origination 2016 | Apartments
Investment Holdings [Line Items]
Commercial mortgage loans	262	263
Year of Origination 2016 | Office
Investment Holdings [Line Items]
Commercial mortgage loans	192	192
Year of Origination 2016 | Hotel/Motel
Investment Holdings [Line Items]
Commercial mortgage loans	10	10
Year of Origination 2016 | Other
Investment Holdings [Line Items]
Commercial mortgage loans	9	10
Year of Origination 2016 | Mixed Use
Investment Holdings [Line Items]
Commercial mortgage loans	6	6
Year of Origination 2016 | Total
Investment Holdings [Line Items]
Commercial mortgage loans	966	972
Year of Origination 2015
Investment Holdings [Line Items]
Commercial mortgage loans	799	804
Year of Origination 2015 | Retail
Investment Holdings [Line Items]
Commercial mortgage loans	198	198
Year of Origination 2015 | Industrial
Investment Holdings [Line Items]
Commercial mortgage loans	283	285
Year of Origination 2015 | Apartments
Investment Holdings [Line Items]
Commercial mortgage loans	131	133
Year of Origination 2015 | Office
Investment Holdings [Line Items]
Commercial mortgage loans	89	90
Year of Origination 2015 | Hotel/Motel
Investment Holdings [Line Items]
Commercial mortgage loans	30	30
Year of Origination 2015 | Other
Investment Holdings [Line Items]
Commercial mortgage loans	68	69
Year of Origination 2015 | Mixed Use
Investment Holdings [Line Items]
Commercial mortgage loans	0	0
Year of Origination 2015 | Total
Investment Holdings [Line Items]
Commercial mortgage loans	799	805
Year of Origination 2014 and prior
Investment Holdings [Line Items]
Commercial mortgage loans	2,644	2,707
Year of Origination 2014 and prior | Retail
Investment Holdings [Line Items]
Commercial mortgage loans	1,194	1,216
Year of Origination 2014 and prior | Industrial
Investment Holdings [Line Items]
Commercial mortgage loans	223	230
Year of Origination 2014 and prior | Apartments
Investment Holdings [Line Items]
Commercial mortgage loans	485	512
Year of Origination 2014 and prior | Office
Investment Holdings [Line Items]
Commercial mortgage loans	371	376
Year of Origination 2014 and prior | Hotel/Motel
Investment Holdings [Line Items]
Commercial mortgage loans	107	108
Year of Origination 2014 and prior | Other
Investment Holdings [Line Items]
Commercial mortgage loans	208	209
Year of Origination 2014 and prior | Mixed Use
Investment Holdings [Line Items]
Commercial mortgage loans	56	56
Year of Origination 2014 and prior | Total
Investment Holdings [Line Items]
Commercial mortgage loans	2,644	2,707
Total | Retail
Investment Holdings [Line Items]
Commercial mortgage loans	1,893	1,873
Total | Industrial
Investment Holdings [Line Items]
Commercial mortgage loans	1,625	1,636
Total | Apartments
Investment Holdings [Line Items]
Commercial mortgage loans	1,855	1,797
Total | Office
Investment Holdings [Line Items]
Commercial mortgage loans	1,025	999
Total | Hotel/Motel
Investment Holdings [Line Items]
Commercial mortgage loans	188	188
Total | Other
Investment Holdings [Line Items]
Commercial mortgage loans	321	324
Total | Mixed Use
Investment Holdings [Line Items]
Commercial mortgage loans	62	62
Total | Total
Investment Holdings [Line Items]
Commercial mortgage loans	$ 6,969	$ 6,879

Investments (excluding Conso_16

Investments (excluding Consolidated Investment Entities) - Allowance for Losses for Commercial Mortgage Loans (Details) $ in Millions	3 Months Ended
	Mar. 31, 2020USD ($)
Allowance for Loan and Lease Losses [Roll Forward]
Balance as of January 1	$ 0
Credit losses on securities for which credit losses were not previously recorded	7
Initial allowance for credit losses recognized on financial assets accounted for as PCD	0
Increase (decrease) on securities with allowance recorded in previous period	0
Write-offs	0
Recoveries of amounts previously written off	0
Balance as of March 31	7
Commercial Portfolio Segment
Allowance for Loan and Lease Losses [Roll Forward]
Balance as of January 1	16
Credit losses on securities for which credit losses were not previously recorded	1
Initial allowance for credit losses recognized on financial assets accounted for as PCD	0
Increase (decrease) on securities with allowance recorded in previous period	5
Provision for expected credit losses	22
Write-offs	0
Recoveries of amounts previously written off	0
Balance as of March 31	$ 22

Investments (excluding Conso_17

Investments (excluding Consolidated Investment Entities) - Past due commercial mortgage loans (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Current
Financing Receivable, Past Due [Line Items]
Past due commercial mortgage loans	$ 6,969	$ 6,879
30-59 days past due
Financing Receivable, Past Due [Line Items]
Past due commercial mortgage loans	0	0
60-89 days past due
Financing Receivable, Past Due [Line Items]
Past due commercial mortgage loans	0	0
Greater than 90 days past due
Financing Receivable, Past Due [Line Items]
Past due commercial mortgage loans	0	0
Total
Financing Receivable, Past Due [Line Items]
Past due commercial mortgage loans	$ 6,969	$ 6,879

Investments (excluding Conso_18

Investments (excluding Consolidated Investment Entities) - Net Investment Income (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Gross investment income	$ 716	$ 675
Less: investment expenses	18	17
Net investment income	698	658
Fixed maturities
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Gross investment income	571	555
Investments in fixed maturities that did not produce net investment income	5		$ 1
Equity securities
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Gross investment income	3	3
Mortgage loans on real estate
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Gross investment income	74	79
Policy loans
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Gross investment income	11	11
Short-term investments and cash equivalents
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Gross investment income	2	4
Other
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Gross investment income	$ 55	$ 23

Investments (excluding Conso_19

Investments (excluding Consolidated Investment Entities) - Net Realized Capital Gains (Losses) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Available-for-sale Securities, Including Securities Pledged [Line Items]
Net realized capital gains (losses)	$ (233)	$ (12)
Change in fair value of equity securities still held	(10)	5
Proceeds from sale of investments
Proceeds on sales	467	1,589
Gross gains	11	22
Gross losses	20	24
Embedded derivatives - fixed maturities
Available-for-sale Securities, Including Securities Pledged [Line Items]
Net realized capital gains (losses)	8	1
Guaranteed benefit derivatives
Available-for-sale Securities, Including Securities Pledged [Line Items]
Net realized capital gains (losses)	(193)	5
Derivatives
Available-for-sale Securities, Including Securities Pledged [Line Items]
Net realized capital gains (losses)	(30)	(64)
Mortgage loans on real estate
Available-for-sale Securities, Including Securities Pledged [Line Items]
Net realized capital gains (losses)	(5)	0
Other investments
Available-for-sale Securities, Including Securities Pledged [Line Items]
Net realized capital gains (losses)	0	(3)
Fixed maturities, available-for-sale, including securities pledged
Available-for-sale Securities, Including Securities Pledged [Line Items]
Net realized capital gains (losses)	(36)	(23)
Fixed maturities, at fair value option
Available-for-sale Securities, Including Securities Pledged [Line Items]
Net realized capital gains (losses)	33	67
Equity securities
Available-for-sale Securities, Including Securities Pledged [Line Items]
Net realized capital gains (losses)	$ (10)	$ 5

Derivative Financial Instrume_3

Derivative Financial Instruments - Notional and Fair Values (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Derivatives, Fair Value [Line Items]
Asset Fair Value	$ 902	$ 335
Liability Fair Value	1,373	563
Credit contracts
Derivatives, Fair Value [Line Items]
Notional Amount	235	237
Interest rate contracts
Derivatives, Fair Value [Line Items]
Notional Amount	25,368	23,634
Foreign exchange contracts
Derivatives, Fair Value [Line Items]
Notional Amount	923	863
Equity contracts
Derivatives, Fair Value [Line Items]
Notional Amount	290	293
Designated as Hedging Instrument | Interest rate contracts | Cash Flow Hedging
Derivatives, Fair Value [Line Items]
Notional Amount	30	30
Designated as Hedging Instrument | Interest rate contracts | Cash Flow Hedging | Derivatives
Derivatives, Fair Value [Line Items]
Asset Fair Value	0	0
Liability Fair Value	0	0
Designated as Hedging Instrument | Foreign exchange contracts | Cash Flow Hedging
Derivatives, Fair Value [Line Items]
Notional Amount	772	771
Designated as Hedging Instrument | Foreign exchange contracts | Cash Flow Hedging | Derivatives
Derivatives, Fair Value [Line Items]
Asset Fair Value	83	12
Liability Fair Value	0	21
Not Designated as Hedging Instrument | Credit contracts
Derivatives, Fair Value [Line Items]
Notional Amount	235	237
Not Designated as Hedging Instrument | Credit contracts | Derivatives
Derivatives, Fair Value [Line Items]
Asset Fair Value	0	0
Liability Fair Value	2	2
Not Designated as Hedging Instrument | Interest rate contracts
Derivatives, Fair Value [Line Items]
Notional Amount	26,856	25,027
Not Designated as Hedging Instrument | Interest rate contracts | Derivatives
Derivatives, Fair Value [Line Items]
Asset Fair Value	783	294
Liability Fair Value	1,038	371
Not Designated as Hedging Instrument | Foreign exchange contracts
Derivatives, Fair Value [Line Items]
Notional Amount	151	92
Not Designated as Hedging Instrument | Foreign exchange contracts | Derivatives
Derivatives, Fair Value [Line Items]
Asset Fair Value	5	0
Liability Fair Value	0	1
Not Designated as Hedging Instrument | Equity contracts
Derivatives, Fair Value [Line Items]
Notional Amount	446	400
Not Designated as Hedging Instrument | Equity contracts | Derivatives
Derivatives, Fair Value [Line Items]
Asset Fair Value	4	10
Liability Fair Value	28	8
Not Designated as Hedging Instrument | Fixed maturities
Derivatives, Fair Value [Line Items]
Asset Fair Value	27	19
Liability Fair Value	0	0
Not Designated as Hedging Instrument | Within products
Derivatives, Fair Value [Line Items]
Asset Fair Value	0	0
Liability Fair Value	227	60
Not Designated as Hedging Instrument | Within reinsurance agreements
Derivatives, Fair Value [Line Items]
Asset Fair Value	0	0
Liability Fair Value	52	100
Not Designated as Hedging Instrument | Managed custody guarantees
Derivatives, Fair Value [Line Items]
Asset Fair Value	0	0
Liability Fair Value	26	0
Discontinued Operations, Held-for-sale
Derivatives, Fair Value [Line Items]
Asset Fair Value	159	312
Liability Fair Value	198	369
Discontinued Operations, Held-for-sale | Credit contracts
Derivatives, Fair Value [Line Items]
Notional Amount	0	0
Discontinued Operations, Held-for-sale | Interest rate contracts
Derivatives, Fair Value [Line Items]
Notional Amount	2,213	2,228
Discontinued Operations, Held-for-sale | Foreign exchange contracts
Derivatives, Fair Value [Line Items]
Notional Amount	50	37
Discontinued Operations, Held-for-sale | Equity contracts
Derivatives, Fair Value [Line Items]
Notional Amount	1,821	1,753
Discontinued Operations, Held-for-sale | Designated as Hedging Instrument | Interest rate contracts | Cash Flow Hedging
Derivatives, Fair Value [Line Items]
Notional Amount	1	1
Discontinued Operations, Held-for-sale | Designated as Hedging Instrument | Interest rate contracts | Cash Flow Hedging | Derivatives
Derivatives, Fair Value [Line Items]
Asset Fair Value	0	0
Liability Fair Value	0	0
Discontinued Operations, Held-for-sale | Designated as Hedging Instrument | Foreign exchange contracts | Cash Flow Hedging
Derivatives, Fair Value [Line Items]
Notional Amount	19	19
Discontinued Operations, Held-for-sale | Designated as Hedging Instrument | Foreign exchange contracts | Cash Flow Hedging | Derivatives
Derivatives, Fair Value [Line Items]
Asset Fair Value	4	1
Liability Fair Value	0	1
Discontinued Operations, Held-for-sale | Not Designated as Hedging Instrument | Interest rate contracts
Derivatives, Fair Value [Line Items]
Notional Amount	2,212	2,227
Discontinued Operations, Held-for-sale | Not Designated as Hedging Instrument | Interest rate contracts | Derivatives
Derivatives, Fair Value [Line Items]
Asset Fair Value	50	49
Liability Fair Value	55	56
Discontinued Operations, Held-for-sale | Not Designated as Hedging Instrument | Foreign exchange contracts
Derivatives, Fair Value [Line Items]
Notional Amount	31	18
Discontinued Operations, Held-for-sale | Not Designated as Hedging Instrument | Foreign exchange contracts | Derivatives
Derivatives, Fair Value [Line Items]
Asset Fair Value	1	0
Liability Fair Value	0	0
Discontinued Operations, Held-for-sale | Not Designated as Hedging Instrument | Equity contracts
Derivatives, Fair Value [Line Items]
Notional Amount	1,821	1,753
Discontinued Operations, Held-for-sale | Not Designated as Hedging Instrument | Equity contracts | Derivatives
Derivatives, Fair Value [Line Items]
Asset Fair Value	93	254
Liability Fair Value	3	20
Discontinued Operations, Held-for-sale | Not Designated as Hedging Instrument | Fixed maturities
Derivatives, Fair Value [Line Items]
Asset Fair Value	11	8
Liability Fair Value	0	0
Discontinued Operations, Held-for-sale | Not Designated as Hedging Instrument | Within products
Derivatives, Fair Value [Line Items]
Asset Fair Value	0	0
Liability Fair Value	82	217
Discontinued Operations, Held-for-sale | Not Designated as Hedging Instrument | Within reinsurance agreements
Derivatives, Fair Value [Line Items]
Asset Fair Value	0	0
Liability Fair Value	$ 58	$ 75

Derivative Financial Instrume_4

Derivative Financial Instruments - Offsetting Assets and Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Offsetting Assets and Liabilities [Line Items]
Asset Fair Value	$ 873	$ 316
Liability Fair Value	1,067	402
Counterparty netting, Assets	(715)	(290)
Counterparty netting, Liabilities	(715)	(290)
Cash collateral netting, Assets	(151)	(25)
Cash collateral netting, Liabilities	(351)	(100)
Securities collateral netting, Assets	(5)	0
Securities collateral netting, Liabilities	0	(5)
Net receivables/payables, Assets	2	1
Net receivables/payables, Liabilities	1	7
Equity contracts
Offsetting Assets and Liabilities [Line Items]
Notional Amount	290	293
Asset Fair Value	3	9
Liability Fair Value	28	7
Foreign exchange contracts
Offsetting Assets and Liabilities [Line Items]
Notional Amount	923	863
Asset Fair Value	88	12
Liability Fair Value	0	22
Interest rate contracts
Offsetting Assets and Liabilities [Line Items]
Notional Amount	25,368	23,634
Asset Fair Value	782	295
Liability Fair Value	1,037	371
Credit contracts
Offsetting Assets and Liabilities [Line Items]
Notional Amount	235	237
Asset Fair Value	0	0
Liability Fair Value	2	2
Discontinued Operations, Held-for-sale
Offsetting Assets and Liabilities [Line Items]
Asset Fair Value	148	304
Liability Fair Value	58	77
Counterparty netting, Assets	(56)	(76)
Counterparty netting, Liabilities	(56)	(76)
Cash collateral netting, Assets	(73)	(206)
Cash collateral netting, Liabilities	(2)	0
Securities collateral netting, Assets	(9)	(17)
Securities collateral netting, Liabilities	0	0
Net receivables/payables, Assets	10	5
Net receivables/payables, Liabilities	0	1
Discontinued Operations, Held-for-sale | Equity contracts
Offsetting Assets and Liabilities [Line Items]
Notional Amount	1,821	1,753
Asset Fair Value	93	254
Liability Fair Value	3	20
Discontinued Operations, Held-for-sale | Foreign exchange contracts
Offsetting Assets and Liabilities [Line Items]
Notional Amount	50	37
Asset Fair Value	5	1
Liability Fair Value	0	1
Discontinued Operations, Held-for-sale | Interest rate contracts
Offsetting Assets and Liabilities [Line Items]
Notional Amount	2,213	2,228
Asset Fair Value	50	49
Liability Fair Value	55	56
Discontinued Operations, Held-for-sale | Credit contracts
Offsetting Assets and Liabilities [Line Items]
Notional Amount	0	0
Asset Fair Value	0	0
Liability Fair Value	$ 0	$ 0

Derivative Financial Instrume_5

Derivative Financial Instruments - Collateral and Credit Default Swaps (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Derivatives, Fair Value [Line Items]
Securities held as collateral	$ 368	$ 474
Securities pledged as collateral
Derivatives, Fair Value [Line Items]
Securities held as collateral	7	0
Securities delivered as collateral	210	183
Over the counter | Cash collateral, included in Payables
Derivatives, Fair Value [Line Items]
Securities held as collateral	106	9
Cleared derivative contract | Cash collateral, included in Payables
Derivatives, Fair Value [Line Items]
Securities held as collateral	292	82
Discontinued Operations, Held-for-sale | Securities pledged as collateral
Derivatives, Fair Value [Line Items]
Securities held as collateral	9	18
Securities delivered as collateral	2	2
Discontinued Operations, Held-for-sale | Over the counter | Cash collateral, included in Payables
Derivatives, Fair Value [Line Items]
Securities held as collateral	75	213
Discontinued Operations, Held-for-sale | Cleared derivative contract | Cash collateral, included in Payables
Derivatives, Fair Value [Line Items]
Securities held as collateral	$ 1	$ 0

Derivative Financial Instrume_6

Derivative Financial Instruments - Net Realized Gains (Losses) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Derivatives, Fair Value [Line Items]
Net investment income	$ 698	$ 658
Other net realized capital gains (losses)	(213)	14
Amount of Gain or (Loss) Recognized in Other Comprehensive Income	(148)	(117)
Interest rate contracts | Net Investment Income | Designated as Hedging Instrument | Cash Flow Hedging
Derivatives, Fair Value [Line Items]
Amount of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income	0	0
Interest rate contracts | Other Comprehensive Income (Loss) | Designated as Hedging Instrument | Cash Flow Hedging
Derivatives, Fair Value [Line Items]
Amount of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income	2	1
Foreign exchange contracts | Net Investment Income | Designated as Hedging Instrument | Cash Flow Hedging
Derivatives, Fair Value [Line Items]
Amount of Gain or (Loss) Recognized in Other Comprehensive Income	3	3
Amount of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income	3	3
Foreign exchange contracts | Other Comprehensive Income (Loss) | Designated as Hedging Instrument | Cash Flow Hedging
Derivatives, Fair Value [Line Items]
Amount of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income	92	(9)
Foreign exchange contracts | Other net realized capital gains/(losses) | Designated as Hedging Instrument | Cash Flow Hedging
Derivatives, Fair Value [Line Items]
Amount of Gain or (Loss) Recognized in Other Comprehensive Income	$ 0	$ 0

Derivative Financial Instrume_7

Derivative Financial Instrument - Effect of derivative qualified as hedge accounting (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative, net	$ (148)	$ (117)
Interest rate contracts | Other net realized capital gains/(losses) | Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative, net	(37)	(52)
Foreign exchange contracts | Other net realized capital gains/(losses) | Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative, net	7	2
Equity contracts | Other net realized capital gains/(losses) | Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative, net	0	(16)
Fixed maturities | Other net realized capital gains/(losses)
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative, net	8	1
Within products | Other net realized capital gains/(losses)
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative, net	(167)	4
Embedded derivative on reinsurance | Policyholder Benefits
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative, net	65	(59)
Managed custody guarantees
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative, net	(26)
Managed custody guarantees | Other net realized capital gains/(losses)
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative, net		0
Credit contracts | Other net realized capital gains/(losses) | Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative, net	2	3
Discontinued Operations, Held-for-sale
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative, net	(5)	2
Discontinued Operations, Held-for-sale | Foreign exchange contracts | Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative, net	1	0
Discontinued Operations, Held-for-sale | Equity contracts | Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative, net	(153)	63
Discontinued Operations, Held-for-sale | Fixed maturities
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative, net	2	0
Discontinued Operations, Held-for-sale | Within products
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative, net	145	(62)
Discontinued Operations, Held-for-sale | Credit contracts | Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative, net	$ 0	$ 1

Fair Value Measurements (excl_3

Fair Value Measurements (excluding Consolidated Investment Entities) - Fair Value Measurement (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	$ 37,584	$ 39,663
Derivatives	875	316
Assets held in separate accounts	68,937	81,670
Total assets	155,732	169,051
Derivatives	1,068	403
Total liabilities	147,467	158,821
Fair value, assets, level 1 to level 2 transfers, amount		0
Fixed maturities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	41,994	43,778
U.S. Treasuries
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	1,595	1,382
U.S. Government agencies and authorities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	100	95
State, municipalities and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	1,315	1,323
U.S. corporate public securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	13,956	14,938
U.S. corporate private securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	5,643	6,035
Foreign corporate public securities and foreign governments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	4,006	4,341
Foreign corporate private securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	4,416	4,831
Residential mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	5,607	5,204
Commercial mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	3,484	3,574
Other asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	1,872	2,055
Measured at fair value on a recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	41,994	43,778
Cash and cash equivalents, short-term investments and short-term investments under securities loan agreements	3,296	2,644
Assets held in separate accounts	68,937	81,670
Total assets	$ 115,278	$ 128,604
Percentage of Level to total	100.00%	100.00%
Total liabilities	$ 1,373	$ 563
Measured at fair value on a recurring basis | Guaranteed benefit derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Guaranteed benefit derivatives	253	60
Measured at fair value on a recurring basis | Interest rate contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	783	294
Derivatives	1,038	371
Measured at fair value on a recurring basis | Foreign exchange contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	88	12
Derivatives		22
Measured at fair value on a recurring basis | Equity contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	4	10
Derivatives	28	8
Measured at fair value on a recurring basis | Embedded derivative on reinsurance
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	52	100
Measured at fair value on a recurring basis | Credit contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	2	2
Measured at fair value on a recurring basis | U.S. Treasuries
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	1,595	1,382
Measured at fair value on a recurring basis | U.S. Government agencies and authorities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	100	95
Measured at fair value on a recurring basis | State, municipalities and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	1,315	1,323
Measured at fair value on a recurring basis | U.S. corporate public securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	13,956	14,938
Measured at fair value on a recurring basis | U.S. corporate private securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	5,643	6,035
Measured at fair value on a recurring basis | Foreign corporate public securities and foreign governments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	4,006	4,341
Measured at fair value on a recurring basis | Foreign corporate private securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	4,416	4,831
Measured at fair value on a recurring basis | Residential mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	5,607	5,204
Measured at fair value on a recurring basis | Commercial mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	3,484	3,574
Measured at fair value on a recurring basis | Other asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	1,872	2,055
Measured at fair value on a recurring basis | Equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	176	196
Measured at fair value on a recurring basis | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	1,253	1,083
Cash and cash equivalents, short-term investments and short-term investments under securities loan agreements	3,263	2,613
Assets held in separate accounts	61,851	75,405
Total assets	$ 66,462	$ 79,171
Percentage of Level to total	58.00%	61.00%
Total liabilities	$ 2	$ 0
Measured at fair value on a recurring basis | Level 1 | Guaranteed benefit derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Guaranteed benefit derivatives	0	0
Measured at fair value on a recurring basis | Level 1 | Interest rate contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	36	2
Derivatives	2	0
Measured at fair value on a recurring basis | Level 1 | Foreign exchange contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	0	0
Derivatives		0
Measured at fair value on a recurring basis | Level 1 | Equity contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	2	0
Derivatives	0	0
Measured at fair value on a recurring basis | Level 1 | Embedded derivative on reinsurance
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	0	0
Measured at fair value on a recurring basis | Level 1 | Credit contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	0	0
Measured at fair value on a recurring basis | Level 1 | U.S. Treasuries
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	1,253	1,083
Measured at fair value on a recurring basis | Level 1 | U.S. Government agencies and authorities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	0	0
Measured at fair value on a recurring basis | Level 1 | State, municipalities and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	0	0
Measured at fair value on a recurring basis | Level 1 | U.S. corporate public securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	0	0
Measured at fair value on a recurring basis | Level 1 | U.S. corporate private securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	0	0
Measured at fair value on a recurring basis | Level 1 | Foreign corporate public securities and foreign governments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	0	0
Measured at fair value on a recurring basis | Level 1 | Foreign corporate private securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	0	0
Measured at fair value on a recurring basis | Level 1 | Residential mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	0	0
Measured at fair value on a recurring basis | Level 1 | Commercial mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	0	0
Measured at fair value on a recurring basis | Level 1 | Other asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	0	0
Measured at fair value on a recurring basis | Level 1 | Equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	57	68
Measured at fair value on a recurring basis | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	38,986	40,735
Cash and cash equivalents, short-term investments and short-term investments under securities loan agreements	33	31
Assets held in separate accounts	6,945	6,149
Total assets	$ 46,751	$ 47,180
Percentage of Level to total	40.00%	37.00%
Total liabilities	$ 1,068	$ 454
Measured at fair value on a recurring basis | Level 2 | Guaranteed benefit derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Guaranteed benefit derivatives	0	0
Measured at fair value on a recurring basis | Level 2 | Interest rate contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	697	243
Derivatives	986	322
Measured at fair value on a recurring basis | Level 2 | Foreign exchange contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	88	12
Derivatives		22
Measured at fair value on a recurring basis | Level 2 | Equity contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	2	10
Derivatives	28	8
Measured at fair value on a recurring basis | Level 2 | Embedded derivative on reinsurance
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	52	100
Measured at fair value on a recurring basis | Level 2 | Credit contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	2	2
Measured at fair value on a recurring basis | Level 2 | U.S. Treasuries
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	342	299
Measured at fair value on a recurring basis | Level 2 | U.S. Government agencies and authorities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	100	95
Measured at fair value on a recurring basis | Level 2 | State, municipalities and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	1,315	1,323
Measured at fair value on a recurring basis | Level 2 | U.S. corporate public securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	13,890	14,864
Measured at fair value on a recurring basis | Level 2 | U.S. corporate private securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	4,352	4,578
Measured at fair value on a recurring basis | Level 2 | Foreign corporate public securities and foreign governments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	4,002	4,341
Measured at fair value on a recurring basis | Level 2 | Foreign corporate private securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	4,139	4,503
Measured at fair value on a recurring basis | Level 2 | Residential mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	5,577	5,181
Measured at fair value on a recurring basis | Level 2 | Commercial mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	3,484	3,574
Measured at fair value on a recurring basis | Level 2 | Other asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	1,785	1,977
Measured at fair value on a recurring basis | Level 2 | Equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	0	0
Measured at fair value on a recurring basis | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	1,755	1,960
Cash and cash equivalents, short-term investments and short-term investments under securities loan agreements	0	0
Assets held in separate accounts	141	116
Total assets	$ 2,065	$ 2,253
Percentage of Level to total	2.00%	2.00%
Total liabilities	$ 303	$ 109
Measured at fair value on a recurring basis | Level 3 | Guaranteed benefit derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Guaranteed benefit derivatives	253	60
Measured at fair value on a recurring basis | Level 3 | Interest rate contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	50	49
Derivatives	50	49
Measured at fair value on a recurring basis | Level 3 | Foreign exchange contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	0	0
Derivatives		0
Measured at fair value on a recurring basis | Level 3 | Equity contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	0	0
Derivatives	0	0
Measured at fair value on a recurring basis | Level 3 | Embedded derivative on reinsurance
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	0	0
Measured at fair value on a recurring basis | Level 3 | Credit contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	0	0
Measured at fair value on a recurring basis | Level 3 | U.S. Treasuries
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	0	0
Measured at fair value on a recurring basis | Level 3 | U.S. Government agencies and authorities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	0	0
Measured at fair value on a recurring basis | Level 3 | State, municipalities and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	0	0
Measured at fair value on a recurring basis | Level 3 | U.S. corporate public securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	66	74
Measured at fair value on a recurring basis | Level 3 | U.S. corporate private securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	1,291	1,457
Measured at fair value on a recurring basis | Level 3 | Foreign corporate public securities and foreign governments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	4	0
Measured at fair value on a recurring basis | Level 3 | Foreign corporate private securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	277	328
Measured at fair value on a recurring basis | Level 3 | Residential mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	30	23
Measured at fair value on a recurring basis | Level 3 | Commercial mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	0	0
Measured at fair value on a recurring basis | Level 3 | Other asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	87	78
Measured at fair value on a recurring basis | Level 3 | Equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	119	128
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	12,052	12,470
Cash and cash equivalents, short-term investments and short-term investments under securities loan agreements	0	533
Assets held in separate accounts	0	1,485
Total assets	$ 12,232	$ 14,827
Percentage of Level to total	100.00%	100.00%
Total liabilities	$ 198	$ 369
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | IUL
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Guaranteed benefit derivatives	82	217
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | Interest rate contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	50	49
Derivatives	55	56
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | Foreign exchange contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	5	1
Derivatives		1
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | Equity contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	93	254
Derivatives	3	20
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | Embedded derivative on reinsurance
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	58	75
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | Credit contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	0
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | U.S. Treasuries
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	918	786
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | U.S. Government agencies and authorities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	173	161
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | State, municipalities and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	438	439
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | U.S. corporate public securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	5,646	5,981
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | U.S. corporate private securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	868	912
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | Foreign corporate public securities and foreign governments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	1,365	1,497
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | Foreign corporate private securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	531	518
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | Residential mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	585	588
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | Commercial mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	983	995
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | Other asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	545	593
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | Equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	32	35
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	534	472
Cash and cash equivalents, short-term investments and short-term investments under securities loan agreements	0	533
Assets held in separate accounts	0	1,485
Total assets	$ 536	$ 2,492
Percentage of Level to total	4.00%	17.00%
Total liabilities	$ 0	$ 0
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | Level 1 | IUL
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Guaranteed benefit derivatives	0	0
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | Level 1 | Interest rate contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	0	0
Derivatives	0	0
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | Level 1 | Foreign exchange contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	0	0
Derivatives		0
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | Level 1 | Equity contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	0	0
Derivatives	0	0
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | Level 1 | Embedded derivative on reinsurance
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	0	0
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | Level 1 | Credit contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	0
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | Level 1 | U.S. Treasuries
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	534	472
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | Level 1 | U.S. Government agencies and authorities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	0	0
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | Level 1 | State, municipalities and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	0	0
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | Level 1 | U.S. corporate public securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	0	0
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | Level 1 | U.S. corporate private securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	0	0
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | Level 1 | Foreign corporate public securities and foreign governments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	0	0
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | Level 1 | Foreign corporate private securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	0	0
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | Level 1 | Residential mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	0	0
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | Level 1 | Commercial mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	0	0
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | Level 1 | Other asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	0	0
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | Level 1 | Equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	2	2
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	11,118	11,557
Cash and cash equivalents, short-term investments and short-term investments under securities loan agreements	0	0
Assets held in separate accounts	0	0
Total assets	$ 11,134	$ 11,610
Percentage of Level to total	91.00%	78.00%
Total liabilities	$ 66	$ 103
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | Level 2 | IUL
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Guaranteed benefit derivatives	0	0
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | Level 2 | Interest rate contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	1	0
Derivatives	5	7
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | Level 2 | Foreign exchange contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	5	1
Derivatives		1
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | Level 2 | Equity contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	10	52
Derivatives	3	20
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | Level 2 | Embedded derivative on reinsurance
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	58	75
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | Level 2 | Credit contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	0
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | Level 2 | U.S. Treasuries
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	384	314
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | Level 2 | U.S. Government agencies and authorities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	173	161
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | Level 2 | State, municipalities and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	438	439
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | Level 2 | U.S. corporate public securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	5,612	5,949
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | Level 2 | U.S. corporate private securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	580	596
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | Level 2 | Foreign corporate public securities and foreign governments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	1,362	1,490
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | Level 2 | Foreign corporate private securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	463	438
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | Level 2 | Residential mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	585	588
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | Level 2 | Commercial mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	983	995
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | Level 2 | Other asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	538	587
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | Level 2 | Equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	0	0
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	400	441
Cash and cash equivalents, short-term investments and short-term investments under securities loan agreements	0	0
Assets held in separate accounts	0	0
Total assets	$ 562	$ 725
Percentage of Level to total	5.00%	5.00%
Total liabilities	$ 132	$ 266
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | Level 3 | IUL
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Guaranteed benefit derivatives	82	217
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | Level 3 | Interest rate contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	49	49
Derivatives	50	49
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | Level 3 | Foreign exchange contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	0	0
Derivatives		0
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | Level 3 | Equity contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	83	202
Derivatives	0	0
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | Level 3 | Embedded derivative on reinsurance
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	0	0
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | Level 3 | Credit contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	0
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | Level 3 | U.S. Treasuries
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	0	0
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | Level 3 | U.S. Government agencies and authorities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	0	0
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | Level 3 | State, municipalities and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	0	0
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | Level 3 | U.S. corporate public securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	34	32
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | Level 3 | U.S. corporate private securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	288	316
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | Level 3 | Foreign corporate public securities and foreign governments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	3	7
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | Level 3 | Foreign corporate private securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	68	80
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | Level 3 | Residential mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	0	0
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | Level 3 | Commercial mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	0	0
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | Level 3 | Other asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value	7	6
Discontinued Operations, Held-for-sale | Measured at fair value on a recurring basis | Level 3 | Equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	$ 30	$ 33

Fair Value Measurements (excl_4

Fair Value Measurements (excluding Consolidated Investment Entities) - Level 3 Financial Instruments (Details) - Measured at fair value on a recurring basis - Level 3 - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Assets held in separate accounts
Fixed Maturities and Equity Securities Rollforward:
Fair Value, Assets, beginning balance	$ 116	$ 62
Total Realized/Unrealized Gains (Losses) Included in Net income	(3)	1
Total Realized/Unrealized Gains (Losses) Included in OCI	0	0
Purchases	47	6
Issuances	0	0
Sales	(1)	0
Settlements	0	0
Transfers in to Level 3	0	3
Transfers out of Level 3	(18)	(5)
Fair Value, Assets, ending balance	141	67
Change In Unrealized Gains (Losses) Included in Earnings	0	0
Other derivatives, net
Fixed Maturities and Equity Securities Rollforward:
Change In Unrealized Gains (Losses) Included in OCI	0
IUL
Derivatives Rollforward:
Change In Unrealized Gains (Losses) Included in OCI	0
Guaranteed benefit derivatives
Derivatives Rollforward:
Fair Value, Derivatives, beginning balance	(60)	(44)
Total Realized/Unrealized Gains (Losses) Included in Net income	(193)	5
Total Realized/Unrealized Gains (Losses) Included in OCI	0	0
Purchases	0	0
Issuances	0	0
Sales	0	0
Settlements	0	(2)
Transfers in to Level 3	0	0
Transfers out of Level 3	0	0
Fair Value, Derivatives, ending balance	(253)	(41)
Change In Unrealized Gains (Losses) Included in Earnings	0	0
U.S. corporate public securities
Fixed Maturities and Equity Securities Rollforward:
Fair Value, Assets, beginning balance	74	34
Total Realized/Unrealized Gains (Losses) Included in Net income	0	0
Total Realized/Unrealized Gains (Losses) Included in OCI	0	1
Purchases	0	0
Issuances	0	0
Sales	0	0
Settlements	(3)	0
Transfers in to Level 3	0	38
Transfers out of Level 3	(5)	0
Fair Value, Assets, ending balance	66	73
Change In Unrealized Gains (Losses) Included in Earnings	0	0
Change In Unrealized Gains (Losses) Included in OCI	0
U.S. corporate private securities
Fixed Maturities and Equity Securities Rollforward:
Fair Value, Assets, beginning balance	1,457	1,134
Total Realized/Unrealized Gains (Losses) Included in Net income	1	0
Total Realized/Unrealized Gains (Losses) Included in OCI	(74)	43
Purchases	46	129
Issuances	0	0
Sales	(3)	(13)
Settlements	(82)	(13)
Transfers in to Level 3	0	0
Transfers out of Level 3	(54)	0
Fair Value, Assets, ending balance	1,291	1,280
Change In Unrealized Gains (Losses) Included in Earnings	0	0
Change In Unrealized Gains (Losses) Included in OCI	(74)
Foreign corporate public securities and foreign governments
Fixed Maturities and Equity Securities Rollforward:
Fair Value, Assets, beginning balance	0	0
Total Realized/Unrealized Gains (Losses) Included in Net income	0	0
Total Realized/Unrealized Gains (Losses) Included in OCI	0	0
Purchases	4	0
Issuances	0	0
Sales	0	0
Settlements	0	0
Transfers in to Level 3	0	0
Transfers out of Level 3	0	0
Fair Value, Assets, ending balance	4	0
Change In Unrealized Gains (Losses) Included in Earnings	0	0
Change In Unrealized Gains (Losses) Included in OCI	0
Foreign corporate private securities
Fixed Maturities and Equity Securities Rollforward:
Fair Value, Assets, beginning balance	328	217
Total Realized/Unrealized Gains (Losses) Included in Net income	(3)	(25)
Total Realized/Unrealized Gains (Losses) Included in OCI	(51)	34
Purchases	3	72
Issuances	0	0
Sales	(4)	(80)
Settlements	0	0
Transfers in to Level 3	10	0
Transfers out of Level 3	(6)	0
Fair Value, Assets, ending balance	277	218
Change In Unrealized Gains (Losses) Included in Earnings	0	0
Change In Unrealized Gains (Losses) Included in OCI	(51)
Residential mortgage-backed securities
Fixed Maturities and Equity Securities Rollforward:
Fair Value, Assets, beginning balance	23	28
Total Realized/Unrealized Gains (Losses) Included in Net income	(2)	(2)
Total Realized/Unrealized Gains (Losses) Included in OCI	0	0
Purchases	17	23
Issuances	0	0
Sales	0	0
Settlements	0	0
Transfers in to Level 3	0	0
Transfers out of Level 3	(8)	0
Fair Value, Assets, ending balance	30	49
Change In Unrealized Gains (Losses) Included in Earnings	(2)	(2)
Change In Unrealized Gains (Losses) Included in OCI	0
Commercial mortgage-backed securities
Fixed Maturities and Equity Securities Rollforward:
Fair Value, Assets, beginning balance		14
Total Realized/Unrealized Gains (Losses) Included in Net income		0
Total Realized/Unrealized Gains (Losses) Included in OCI		0
Purchases		0
Issuances		0
Sales		0
Settlements		(1)
Transfers in to Level 3		0
Transfers out of Level 3		0
Fair Value, Assets, ending balance		13
Change In Unrealized Gains (Losses) Included in Earnings		0
Other asset-backed securities
Fixed Maturities and Equity Securities Rollforward:
Fair Value, Assets, beginning balance	78	127
Total Realized/Unrealized Gains (Losses) Included in Net income	0	0
Total Realized/Unrealized Gains (Losses) Included in OCI	0	1
Purchases	10	29
Issuances	0	0
Sales	0	0
Settlements	(1)	(1)
Transfers in to Level 3	0	0
Transfers out of Level 3	0	(25)
Fair Value, Assets, ending balance	87	131
Change In Unrealized Gains (Losses) Included in Earnings	0	0
Change In Unrealized Gains (Losses) Included in OCI	0
Fixed maturities
Fixed Maturities and Equity Securities Rollforward:
Fair Value, Assets, beginning balance	1,960	1,554
Total Realized/Unrealized Gains (Losses) Included in Net income	(4)	(27)
Total Realized/Unrealized Gains (Losses) Included in OCI	(125)	79
Purchases	80	253
Issuances	0	0
Sales	(7)	(93)
Settlements	(86)	(15)
Transfers in to Level 3	10	38
Transfers out of Level 3	(73)	(25)
Fair Value, Assets, ending balance	1,755	1,764
Change In Unrealized Gains (Losses) Included in Earnings	(2)	(2)
Change In Unrealized Gains (Losses) Included in OCI	(125)
Equity securities
Fixed Maturities and Equity Securities Rollforward:
Fair Value, Assets, beginning balance	128	104
Total Realized/Unrealized Gains (Losses) Included in Net income	(9)	4
Total Realized/Unrealized Gains (Losses) Included in OCI	0	0
Purchases	0	42
Issuances	0	0
Sales	0	0
Settlements	0	0
Transfers in to Level 3	0	0
Transfers out of Level 3	0	0
Fair Value, Assets, ending balance	119	150
Change In Unrealized Gains (Losses) Included in Earnings	(9)	4
Change In Unrealized Gains (Losses) Included in OCI	0
Discontinued Operations, Held-for-sale | Other derivatives, net
Derivatives Rollforward:
Fair Value, Derivatives, beginning balance	202	83
Total Realized/Unrealized Gains (Losses) Included in Net income	(127)	52
Total Realized/Unrealized Gains (Losses) Included in OCI	0	0
Purchases	14	11
Issuances	0	0
Sales	0	0
Settlements	(6)	(9)
Transfers in to Level 3	0	0
Transfers out of Level 3	0	0
Fair Value, Derivatives, ending balance	83	137
Change In Unrealized Gains (Losses) Included in Earnings	(119)	54
Change In Unrealized Gains (Losses) Included in OCI	0
Discontinued Operations, Held-for-sale | IUL
Derivatives Rollforward:
Fair Value, Derivatives, beginning balance	(217)	(82)
Total Realized/Unrealized Gains (Losses) Included in Net income	145	(63)
Total Realized/Unrealized Gains (Losses) Included in OCI	0	0
Purchases	0	0
Issuances	(16)	(13)
Sales	0	0
Settlements	7	12
Transfers in to Level 3	0	0
Transfers out of Level 3	0	0
Fair Value, Derivatives, ending balance	(81)	(146)
Change In Unrealized Gains (Losses) Included in Earnings	0	0
Change In Unrealized Gains (Losses) Included in OCI	0
Discontinued Operations, Held-for-sale | U.S. corporate public securities
Fixed Maturities and Equity Securities Rollforward:
Fair Value, Assets, beginning balance	32	10
Total Realized/Unrealized Gains (Losses) Included in Net income	0	0
Total Realized/Unrealized Gains (Losses) Included in OCI	2	1
Purchases	1	3
Issuances	0	0
Sales	0	0
Settlements	(1)	0
Transfers in to Level 3	0	21
Transfers out of Level 3	0	0
Fair Value, Assets, ending balance	34	35
Change In Unrealized Gains (Losses) Included in Earnings	0
Change In Unrealized Gains (Losses) Included in OCI	2
Discontinued Operations, Held-for-sale | U.S. corporate private securities
Fixed Maturities and Equity Securities Rollforward:
Fair Value, Assets, beginning balance	316	259
Total Realized/Unrealized Gains (Losses) Included in Net income	0	0
Total Realized/Unrealized Gains (Losses) Included in OCI	(17)	11
Purchases	9	19
Issuances	0	0
Sales	0	0
Settlements	(10)	4
Transfers in to Level 3	0	0
Transfers out of Level 3	(10)	0
Fair Value, Assets, ending balance	288	285
Change In Unrealized Gains (Losses) Included in Earnings	0
Change In Unrealized Gains (Losses) Included in OCI	(17)
Discontinued Operations, Held-for-sale | Foreign corporate public securities and foreign governments
Fixed Maturities and Equity Securities Rollforward:
Fair Value, Assets, beginning balance	7	11
Total Realized/Unrealized Gains (Losses) Included in Net income	0	0
Total Realized/Unrealized Gains (Losses) Included in OCI	(4)	(2)
Purchases	0	0
Issuances	0	0
Sales	0	0
Settlements	0	0
Transfers in to Level 3	0	0
Transfers out of Level 3	0	0
Fair Value, Assets, ending balance	3	9
Change In Unrealized Gains (Losses) Included in Earnings	0
Change In Unrealized Gains (Losses) Included in OCI	(4)
Discontinued Operations, Held-for-sale | Foreign corporate private securities
Fixed Maturities and Equity Securities Rollforward:
Fair Value, Assets, beginning balance	80	34
Total Realized/Unrealized Gains (Losses) Included in Net income	0	(4)
Total Realized/Unrealized Gains (Losses) Included in OCI	(13)	6
Purchases	1	25
Issuances	0	0
Sales	0	13
Settlements	0	0
Transfers in to Level 3	0	0
Transfers out of Level 3	0	0
Fair Value, Assets, ending balance	68	48
Change In Unrealized Gains (Losses) Included in Earnings	0
Change In Unrealized Gains (Losses) Included in OCI	(13)
Discontinued Operations, Held-for-sale | Residential mortgage-backed securities
Fixed Maturities and Equity Securities Rollforward:
Fair Value, Assets, beginning balance	0	0
Total Realized/Unrealized Gains (Losses) Included in Net income	0	0
Total Realized/Unrealized Gains (Losses) Included in OCI	0	0
Purchases	0	0
Issuances	0	0
Sales	0	0
Settlements	0	0
Transfers in to Level 3	0	0
Transfers out of Level 3	0	0
Fair Value, Assets, ending balance	0	0
Change In Unrealized Gains (Losses) Included in Earnings	0
Change In Unrealized Gains (Losses) Included in OCI	0
Discontinued Operations, Held-for-sale | Commercial mortgage-backed securities
Fixed Maturities and Equity Securities Rollforward:
Fair Value, Assets, beginning balance		0
Total Realized/Unrealized Gains (Losses) Included in Net income		0
Total Realized/Unrealized Gains (Losses) Included in OCI		0
Purchases		3
Issuances		0
Sales		0
Settlements		0
Transfers in to Level 3		0
Transfers out of Level 3		0
Fair Value, Assets, ending balance		3
Change In Unrealized Gains (Losses) Included in Earnings	0
Discontinued Operations, Held-for-sale | Other asset-backed securities
Fixed Maturities and Equity Securities Rollforward:
Fair Value, Assets, beginning balance	6	11
Total Realized/Unrealized Gains (Losses) Included in Net income	0	0
Total Realized/Unrealized Gains (Losses) Included in OCI	0	0
Purchases	2	2
Issuances	0	0
Sales	0	0
Settlements	(1)	0
Transfers in to Level 3	0	0
Transfers out of Level 3	0	0
Fair Value, Assets, ending balance	7	13
Change In Unrealized Gains (Losses) Included in Earnings	0
Change In Unrealized Gains (Losses) Included in OCI	0
Discontinued Operations, Held-for-sale | Fixed maturities
Fixed Maturities and Equity Securities Rollforward:
Fair Value, Assets, beginning balance	441	325
Total Realized/Unrealized Gains (Losses) Included in Net income	0	(4)
Total Realized/Unrealized Gains (Losses) Included in OCI	(32)	16
Purchases	13	52
Issuances	0	0
Sales	0	13
Settlements	(12)	4
Transfers in to Level 3	0	21
Transfers out of Level 3	(10)	0
Fair Value, Assets, ending balance	400	393
Change In Unrealized Gains (Losses) Included in Earnings	0
Change In Unrealized Gains (Losses) Included in OCI	(32)
Discontinued Operations, Held-for-sale | Equity securities
Fixed Maturities and Equity Securities Rollforward:
Fair Value, Assets, beginning balance	33	25
Total Realized/Unrealized Gains (Losses) Included in Net income	(3)	2
Total Realized/Unrealized Gains (Losses) Included in OCI	0	0
Purchases	0	7
Issuances	0	0
Sales	0	0
Settlements	0	0
Transfers in to Level 3	0	0
Transfers out of Level 3	0	0
Fair Value, Assets, ending balance	30	34
Change In Unrealized Gains (Losses) Included in Earnings	(3)	$ 2
Change In Unrealized Gains (Losses) Included in OCI	$ 0

Fair Value Measurements (excl_5

Fair Value Measurements (excluding Consolidated Investment Entities) - Significant Unobservable Inputs (Details) - IUL - Investment contract - Market Approach Valuation Technique	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Weighted Average
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Interest rate implied volatility	0.00%
Nonperformance risk	1.46%
Lapses	6.00%
Mortality		0.00%
Maximum
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Interest rate implied volatility	0.00%	0.00%
Nonperformance risk	1.49%	0.42%
Lapses	10.00%	10.00%
Mortality	0.00%	0.00%
Minimum
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Interest rate implied volatility	0.00%	0.00%
Nonperformance risk	1.42%	0.22%
Lapses	2.00%	2.00%
Mortality	0.00%	0.00%

Fair Value Measurements (excl_6

Fair Value Measurements (excluding Consolidated Investment Entities) - Other Financial Instruments (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed maturities, available-for-sale, at fair value	$ 37,584	$ 39,663
Derivatives	875	316
Other investments	392	385
Assets held in separate accounts	68,937	81,670
Derivatives	1,068	403
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed maturities, available-for-sale, at fair value	41,994	43,778
Equity securities	176	196
Cash and cash equivalents, short-term investments and short-term investments under securities loan agreements	3,296	2,644
Derivatives	875	316
Other investments	324	320
Assets held in separate accounts	68,937	81,670
Short-term debt	1	1
Long-term debt	3,042	3,042
Carrying Value | Other derivatives, net
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivatives	1,068	403
Carrying Value | Embedded derivative on reinsurance
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivatives	52	100
Carrying Value | Funding agreements without fixed maturities and deferred annuities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities	34,989	33,916
Carrying Value | Funding agreements with fixed maturities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities	856	877
Carrying Value | Supplementary contracts, immediate annuities and other
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities	799	821
Carrying Value | Guaranteed benefit derivatives
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities	253	60
Carrying Value | Mortgage loans on real estate
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	6,969	6,878
Carrying Value | Policy loans
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	763	776
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed maturities, available-for-sale, at fair value	41,994	43,778
Equity securities	176	196
Cash and cash equivalents, short-term investments and short-term investments under securities loan agreements	3,296	2,644
Derivatives	875	316
Other investments	405	456
Assets held in separate accounts	68,937	81,670
Short-term debt	1	1
Long-term debt	3,120	3,418
Fair Value | Other derivatives, net
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivatives	1,068	403
Fair Value | Embedded derivative on reinsurance
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivatives	52	100
Fair Value | Funding agreements without fixed maturities and deferred annuities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities	42,861	41,035
Fair Value | Funding agreements with fixed maturities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities	829	877
Fair Value | Supplementary contracts, immediate annuities and other
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities	839	872
Fair Value | Guaranteed benefit derivatives
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities	253	60
Fair Value | Mortgage loans on real estate
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	7,087	7,262
Fair Value | Policy loans
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	763	776
Discontinued Operations, Held-for-sale | Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed maturities, available-for-sale, at fair value	12,052	12,470
Equity securities	32	35
Cash and cash equivalents, short-term investments and short-term investments under securities loan agreements	471	533
Derivatives	148	305
Other investments	46	42
Other investments	1,212	1,485
Notes Payable	252	252
Discontinued Operations, Held-for-sale | Carrying Value | Embedded derivative on reinsurance
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivatives	58	75
Discontinued Operations, Held-for-sale | Carrying Value | Funding agreements with fixed maturities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities	1,016	927
Discontinued Operations, Held-for-sale | Carrying Value | Supplementary contracts, immediate annuities and other
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities	103	97
Discontinued Operations, Held-for-sale | Carrying Value | IUL
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities	82	217
Discontinued Operations, Held-for-sale | Carrying Value | Mortgage loans on real estate
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	1,310	1,319
Discontinued Operations, Held-for-sale | Carrying Value | Policy loans
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	1,006	1,005
Discontinued Operations, Held-for-sale | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed maturities, available-for-sale, at fair value	12,052	12,470
Equity securities	32	35
Cash and cash equivalents, short-term investments and short-term investments under securities loan agreements	471	533
Derivatives	148	305
Other investments	46	42
Other investments	1,212	1,485
Notes Payable	262	320
Discontinued Operations, Held-for-sale | Fair Value | Embedded derivative on reinsurance
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivatives	58	75
Discontinued Operations, Held-for-sale | Fair Value | Funding agreements with fixed maturities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities	986	923
Discontinued Operations, Held-for-sale | Fair Value | Supplementary contracts, immediate annuities and other
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities	110	104
Discontinued Operations, Held-for-sale | Fair Value | IUL
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities	82	217
Discontinued Operations, Held-for-sale | Fair Value | Mortgage loans on real estate
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	1,340	1,405
Discontinued Operations, Held-for-sale | Fair Value | Policy loans
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	$ 1,006	$ 1,005

Deferred Policy Acquisition C_3

Deferred Policy Acquisition Costs and Value of Business Acquired - DAC and VOBA Activity (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Beginning balance	$ 1,762	$ 2,155
Deferrals of commissions and expenses	26	23
Amortization:
Amortization, excluding unlocking	(74)	(88)
Unlocking	(12)	7
Interest accrued	31	31
Net amortization included in the Consolidated Statements of Operations	(55)	(50)
Change due to unrealized capital gains/losses on available-for-sale securities	226	(185)
Ending balance	1,962	1,943
Movement Analysis Of Value of Business Acquired VOBA [Roll Forward]
Beginning balance	464	818
Deferrals of commissions and expenses	0	2
Amortization:
Amortization, excluding unlocking	(22)	(36)
Unlocking	(13)	15
Interest accrued	14	14
Net amortization included in Condensed Consolidated Statements of Operations	(21)	(7)
Change due to unrealized capital gains/losses on available-for-sale securities	198	(146)
Ending balance	641	667
Movement Analysis of Deferred Policy Acquisition Costs and Value of Business Acquired (VOBA) [Roll Forward]
Beginning balance	2,226	2,973
Deferrals of commissions and expenses	26	25
Amortization:
Amortization, excluding unlocking	(96)	(124)
Unlocking	(25)	22
Interest accrued	45	45
Net amortization included in Condensed Consolidated Statements of Operations	(76)	(57)
Change due to unrealized capital gains/losses on available-for-sale securities	424	(331)
Ending balance	$ 2,603	$ 2,610
Minimum
Amortization:
Value of Business Acquired (VOBA), Interest accrued percentage	3.50%	3.50%
Maximum
Amortization:
Value of Business Acquired (VOBA), Interest accrued percentage	7.40%	7.40%
Accounting Standards Update 2016-13
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Beginning balance	$ 3
Movement Analysis Of Value of Business Acquired VOBA [Roll Forward]
Beginning balance	0
Movement Analysis of Deferred Policy Acquisition Costs and Value of Business Acquired (VOBA) [Roll Forward]
Beginning balance	$ 3

Share-based Incentive Compens_3

Share-based Incentive Compensation Plans - Narrative (Details)	3 Months Ended
	Mar. 31, 2020$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Per option grant date fair value | $ / shares	$ 13.78
2013 Omnibus Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant	347,663
2014 Omnibus Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant	3,305,446
2019 Omnibus Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant	10,559,453
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercisable, period following satisfaction of relevant vesting condition	1 year
Term of stock options	10 years

Share-based Incentive Compens_4

Share-based Incentive Compensation Plans - Compensation Cost (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost	$ 38	$ 36
Income tax benefit	19	1
After-tax share-based compensation expense	19	35
Restricted Stock Unit (RSU) awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost	18	17
Performance Stock Unit (PSU) awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost	18	17
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost	$ 2	$ 2

Share-based Incentive Compens_5

Share-based Incentive Compensation Plans - Awards Outstanding (Details) shares in Millions	3 Months Ended
	Mar. 31, 2020$ / sharesshares
RSU awards
Number of Awards
Outstanding, beginning balance | shares	1.9
Granted | shares	0.7
Vested | shares	(0.9)
Forfeited | shares	0
Outstanding, ending balance | shares	1.7
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Outstanding, beginning balance | $ / shares	$ 48.55
Granted | $ / shares	63.62
Vested | $ / shares	47.47
Forfeited | $ / shares	50.20
Outstanding, ending balance | $ / shares	$ 55.60
PSU awards
Number of Awards
Outstanding, beginning balance | shares	2.2
Adjustment for PSU performance factor | shares	0.4
Granted | shares	0.7
Vested | shares	(1.2)
Forfeited | shares	0
Outstanding, ending balance | shares	2.1
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Outstanding, beginning balance | $ / shares	$ 48.85
Adjustment for PSU performance factor | $ / shares	42.27
Granted | $ / shares	61.86
Vested | $ / shares	42.34
Forfeited | $ / shares	52.47
Outstanding, ending balance | $ / shares	$ 55.46
Stock options
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding, beginning balance | shares	2.9
Granted | shares	0
Exercised | shares	0
Forfeited | shares	0
Outstanding, ending balance | shares	2.9
Vested, exercisable | shares	2.3
Share-based Compensation Arrangement by Share-based Payment Award, Options, Weighted Average Exercise Price [Abstract]
Outstanding, beginning balance | $ / shares	$ 41.93
Granted | $ / shares	0
Exercised | $ / shares	37.60
Forfeited | $ / shares	50.03
Outstanding, ending balance | $ / shares	41.87
Vested, exercisable, weighted average exercise price | $ / shares	$ 40.26

Shareholders' Equity - Common S

Shareholders' Equity - Common Stock Rollforward (Details) - shares	Feb. 26, 2020	Dec. 19, 2019	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Increase (Decrease) in Stockholders' Equity
Common stock, shares issued, beginning balance (in shares)			140,726,677
Common shares, beginning balance (in shares)			132,325,790
Common stock acquired - share repurchase (in shares)	727,368	2,591,093	(8,100,000)	(21,100,000)
Share-based compensation programs (in shares)			1,800,000	2,300,000
Treasury Stock, Shares, Retired					0
Common stock, shares issued, ending balance (in shares)			142,899,061		140,726,677
Common shares, ending balance (in shares)			126,127,821		132,325,790
Common Stock
Increase (Decrease) in Stockholders' Equity
Common stock, shares issued, beginning balance (in shares)			140,700,000	272,400,000	272,400,000
Common shares, beginning balance (in shares)			132,300,000	151,000,000	151,000,000
Common shares issued (in shares)			0	100,000
Common stock acquired - share repurchase (in shares)			0	0
Share-based compensation programs (in shares)			2,100,000	3,200,000
Treasury Stock, Shares, Retired					(135,000,000)
Common stock, shares issued, ending balance (in shares)			142,800,000		140,700,000
Common shares, ending balance (in shares)			126,000,000		132,300,000
Treasury Stock
Increase (Decrease) in Stockholders' Equity
Common shares, held in treasury, beginning balance (in shares)			(8,400,000)	(121,400,000)	(121,400,000)
Common shares issued (in shares)			0	0
Common stock acquired - share repurchase (in shares)			(8,100,000)	(21,100,000)
Share-based compensation programs (in shares)			(300,000)	(900,000)
Treasury Stock, Shares, Retired					(135,000,000)
Common shares, held in treasury, ending balance (in shares)			(16,800,000)		(8,400,000)

Shareholders' Equity - Narrativ

Shareholders' Equity - Narrative (Details) - USD ($)	Mar. 27, 2020	Feb. 26, 2020	Dec. 19, 2019	Jun. 11, 2019	Sep. 12, 2018	May 07, 2013	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019	Oct. 31, 2019
Class of Stock [Line Items]
Dividends declared per share of Common Stock (usd per share)							$ 0.15	$ 0.01
Amount authorized for repurchase										$ 800,000,000
Payment for share repurchases			$ 200,000,000				$ 366,000,000	$ 250,000,000
Shares delivered (in shares)		727,368	2,591,093				(8,100,000)	(21,100,000)
Number of warrants issued and outstanding (in shares)						26,050,846
Warrants issued allowing purchase of shares, percentage of common stock issued and outstanding						9.99%
Exercise price of warrants (usd per share)	$ 48.38					$ 48.75
Number of shares of common stock for which each warrant is exercisable (in shares)	1.002288479
Cash dividends, per share (usd per share)	$ 0.15					$ 0.01
Warrants net share settled, fair value						$ 94,000,000
Number of warrants exercised							0
Preferred Stock, par value per share							$ 0.01		$ 0.01
Issuer's redemption option, period to redeem after a redemption event							90 days
Preferred Stock, shares authorized							100,000,000		100,000,000
Preferred Stock, amount of preferred dividends in arrears							$ 0
Number of shares authorized to be repurchased (in shares)		3,318,461
Rating agency event
Class of Stock [Line Items]
Preferred stock, redemption price per share							$ 1,020
Regulatory capital event
Class of Stock [Line Items]
Preferred stock, redemption price per share							$ 1,000
Series A Preferred Stock
Class of Stock [Line Items]
Preferred Stock, shares issued					325,000		325,000		325,000
Preferred Stock, shares outstanding							325,000		325,000
Preferred Stock, dividend rate, percentage					6.125%
Preferred Stock, par value per share					$ 0.01
Preferred stock, liquidation preference per share					$ 1,000
Proceeds from issuance of preferred stock, net					$ 319,000,000
Series B Preferred Stock
Class of Stock [Line Items]
Preferred Stock, shares issued				300,000			300,000		300,000
Preferred Stock, shares outstanding							300,000		300,000
Preferred Stock, dividend rate, percentage				5.35%
Preferred Stock, par value per share				$ 0.01
Preferred stock, liquidation preference per share				$ 1,000
Proceeds from issuance of preferred stock, net				$ 293,000,000
Number of shares of preferred stock represented by each depositary share (in shares)							0.025
Depositary Shares | Rating agency event
Class of Stock [Line Items]
Preferred stock, redemption price per share							$ 25.50
Depositary Shares | Regulatory capital event
Class of Stock [Line Items]
Preferred stock, redemption price per share							$ 25
Open market repurchase
Class of Stock [Line Items]
Payment for share repurchases							$ 366,000,000
Shares delivered (in shares)							7,390,099

Shareholders' Equity - Preferre

Shareholders' Equity - Preferred Stock (Details) - shares	Mar. 31, 2020	Dec. 31, 2019	Jun. 11, 2019	Sep. 12, 2018
Preferred Stock
Class of Stock [Line Items]
Preferred Stock, shares issued	625,000	625,000
Preferred Stock, shares outstanding	625,000	625,000
Series B Preferred Stock
Class of Stock [Line Items]
Preferred Stock, shares issued	300,000	300,000	300,000
Preferred Stock, shares outstanding	300,000	300,000
Series A Preferred Stock
Class of Stock [Line Items]
Preferred Stock, shares issued	325,000	325,000		325,000
Preferred Stock, shares outstanding	325,000	325,000

Earnings per Common Share (Deta

Earnings per Common Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Net income (loss) available to common shareholders:
Income (loss) from continuing operations	$ 50	$ 93
Less: Preferred stock dividends	14	10
Less: Net income (loss) attributable to noncontrolling interest	6	(1)
Income (loss) from continuing operations available to common shareholders	30	84
Income (loss) from discontinued operations, net of tax	(128)	(20)
Net Income (Loss) Available to Common Stockholders, Basic	$ (98)	$ 64
Weighted average common shares outstanding
Basic (in shares)	130.9	146.9
Dilutive Effects:
Diluted (in shares)	137.4	151.3
Basic [Abstract]
Income (loss) from continuing operations available to Voya Financial, Inc.'s common shareholders (usd per share)	$ 0.23	$ 0.57
Income (loss) from discontinued operations, net of taxes available to Voya Financial, Inc.'s common shareholders (usd per share)	(0.98)	(0.14)
Income (loss) available to Voya Financial, Inc.'s common shareholders (usd per share)	(0.75)	0.44
Diluted [Abstract]
Income (loss) from continuing operations available to Voya Financial, Inc.'s common shareholders (usd per share)	0.22	0.56
Income (loss) from discontinued operations, net of taxes available to Voya Financial, Inc.'s common shareholders (usd per share)	(0.93)	(0.13)
Income (loss) available to Voya Financial, Inc.'s common shareholders (usd per share)	$ (0.71)	$ 0.42
Warrant
Dilutive Effects:
Dilutive Effects (in shares)	2.9	0
RSU awards
Dilutive Effects:
Dilutive Effects (in shares)	1.2	1.5
PSU awards
Dilutive Effects:
Dilutive Effects (in shares)	1.8	2.4
Stock options
Dilutive Effects:
Dilutive Effects (in shares)	0.6	0.5

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) - Components of AOCI (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019
Accumulated Other Comprehensive Income (Loss) [Line Items]
Fixed maturities, net of impairment	$ 2,819		$ 2,958
Derivatives	235		154
DAC/VOBA adjustment on available-for-sale securities	(906)		(879)
Premium deficiency reserve	(146)		(93)
Sales inducements and other intangibles adjustment on available-for-sale securities	(127)		(112)
Unrealized capital gains (losses), before tax	1,875		2,028
Deferred income tax asset (liability)	(40)		(72)
Net unrealized capital gains (losses)	1,835		1,956
Pension and other postretirement benefits liability, net of tax	6		10
AOCI	1,841	$ 3,331	$ 1,966
Other Contract
Accumulated Other Comprehensive Income (Loss) [Line Items]
Portion of AOCI expected to be reclassified into earnings within next 12 months	$ 24

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income (Loss) - Changes in AOCI, including Reclassification Adjustments (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Available-for-sale securities, Before-Tax Amount:
Fixed maturities	$ (2,756)	$ 1,865
Impairments	0	1
Adjustments for amounts recognized in Net realized capital gains (losses) in the Condensed Consolidated Statements of Operations	29	17
DAC/VOBA	592	(498)
Premium deficiency reserve	103	(36)
Sales inducements and other intangibles	58	(48)
Change in unrealized gains/losses on available-for-sale securities	(1,974)	1,301
Available-for-sale securities, Income Tax:
Fixed maturities	578	(390)
Impairments	0	0
Adjustments for amounts recognized in Net realized capital gains (losses) in the Condensed Consolidated Statements of Operations	(6)	(4)
DAC/VOBA	(124)	105
Premium deficiency reserve	(22)	8
Sales inducements and other intangibles	(12)	10
Change in unrealized gains/losses on available-for-sale securities	414	(271)
Available-for-sale securities, After-Tax Amount:
Fixed maturities	(2,178)	1,475
Impairments	0	1
Adjustments for amounts recognized in Net realized capital gains (losses) in the Condensed Consolidated Statements of Operations	23	13
DAC/VOBA	468	(393)
Premium deficiency reserve	81	(28)
Sales inducements and other intangibles	46	(38)
Change in unrealized gains/losses on available-for-sale securities	(1,560)	1,030
Derivatives, Before-Tax Amount:
Derivatives	96	(10)
Adjustments related to effective cash flow hedges for amounts recognized in Net investment income in the Condensed Consolidated Statements of Operations	(6)	(6)
Change in unrealized gains/losses on derivatives	90	(16)
Derivatives, Income Tax:
Derivatives	(20)	2
Adjustments related to effective cash flow hedges for amounts recognized in Net investment income in the Condensed Consolidated Statements of Operations	1	1
Change in unrealized gains/losses on derivatives	(19)	3
Derivatives, After-Tax Amount:
Derivatives	76	(8)
Adjustments related to effective cash flow hedges for amounts recognized in Net investment income in the Condensed Consolidated Statements of Operations	(5)	(5)
Change in unrealized gains/losses on derivatives	71	(13)
Pension and other post-employment benefit liability, Before-Tax Amount:
Amortization of prior service cost recognized in Operating expenses in the Condensed Consolidated Statements of Operations	(1)	(1)
Change in pension and other postretirement benefits liability	(1)	(1)
Pension and other post-employment benefit liability, Income Tax:
Amortization of prior service cost recognized in Operating expenses in the Condensed Consolidated Statements of Operations	0	0
Change in pension and other postretirement benefits liability	0	0
Pension and other post-employment benefit liability, After-Tax Amount:
Amortization of prior service cost recognized in Operating expenses in the Condensed Consolidated Statements of Operations	(1)	(1)
Change in pension and other postretirement benefits liability	(1)	(1)
Other comprehensive income (loss), before tax	(1,885)	1,284
Other comprehensive income (loss), tax	395	(268)
Other comprehensive income (loss), after tax	$ (1,490)	$ 1,016

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Income Tax Disclosure [Abstract]
Effective tax rate	(13.60%)	8.80%
Statutory tax rate	21.00%	21.00%

Financing Agreements - Schedule

Financing Agreements - Schedule of Long-term Debt (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Long-term debt	$ 3,043	$ 3,043
Less: Current portion of long-term debt	1	1
Total long-term debt, excluding current portion	3,042	3,042
Senior Notes | 3.125% Senior Notes, due 2024
Debt Instrument [Line Items]
Long-term debt	$ 397	$ 397
Annual interest rate on debt	3.125%	3.125%
Senior Notes | 3.65% Senior Notes, due 2026
Debt Instrument [Line Items]
Long-term debt	$ 496	$ 496
Annual interest rate on debt	3.65%	3.65%
Senior Notes | 5.7% Senior Notes, due 2043
Debt Instrument [Line Items]
Long-term debt	$ 395	$ 395
Annual interest rate on debt	5.70%	5.70%
Senior Notes | 4.8% Senior Notes, due 2046
Debt Instrument [Line Items]
Long-term debt	$ 297	$ 297
Annual interest rate on debt	4.80%	4.80%
Junior Subordinated Notes | 4.7% Fixed-to-Floating Rate Junior Subordinated Notes, due 2048
Debt Instrument [Line Items]
Long-term debt	$ 345	$ 345
Annual interest rate on debt	4.70%	4.70%
Junior Subordinated Notes | 5.65% Fixed-to-Floating Rate Junior Subordinated Notes, due 2053
Debt Instrument [Line Items]
Long-term debt	$ 739	$ 739
Annual interest rate on debt	5.65%	5.65%
Debentures | 7.25% Voya Holdings Inc. debentures, due 2023
Debt Instrument [Line Items]
Long-term debt	$ 139	$ 139
Annual interest rate on debt	7.25%	7.25%
Debentures | 7.63% Voya Holdings Inc. debentures, due 2026
Debt Instrument [Line Items]
Long-term debt	$ 138	$ 138
Annual interest rate on debt	7.63%	7.63%
Debentures | 6.97% Voya Holdings Inc. debentures, due 2036
Debt Instrument [Line Items]
Long-term debt	$ 79	$ 79
Annual interest rate on debt	6.97%	6.97%
Notes payable, other | 8.42% Equitable of Iowa Companies Capital Trust II Notes, due 2027
Debt Instrument [Line Items]
Long-term debt	$ 14	$ 14
Annual interest rate on debt	8.42%	8.42%
Loans payable | 1.00% Windsor Property Loan
Debt Instrument [Line Items]
Long-term debt	$ 4	$ 4
Annual interest rate on debt	1.00%	1.00%

Financing Agreements - Narrativ

Financing Agreements - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Nov. 01, 2019
Debt Instrument [Line Items]
Outstanding par amount of guaranteed debentures	$ 3,043	$ 3,043
Aetna Notes
Debt Instrument [Line Items]
Amount of letters of credit outstanding	163
Revolving Credit agreement
Debt Instrument [Line Items]
Minimum net worth required for compliance			$ 6,150
Maximum borrowing capacity	500
Voya Holdings Debentures | Aetna Notes
Debt Instrument [Line Items]
Amount of collateral deposited to a control account	209
Amount of collateral for credit facility	372
Debentures | Voya Holdings Debentures
Debt Instrument [Line Items]
Outstanding par amount of guaranteed debentures	358
Revolving Credit agreement
Debt Instrument [Line Items]
Outstanding borrowings	0
Amount of letters of credit outstanding	$ 0

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Loss Contingencies [Line Items]
Fair value of assets pledged as collateral	$ 1,242	$ 1,211
Possible losses in excess of amounts accrued	75
Potential future loss	79
Henkel of America v. ReliaStar Life Insurance Company
Loss Contingencies [Line Items]
Potential future loss	47
Federal Home Loan Bank | Line of Credit
Loss Contingencies [Line Items]
Non-putable funding agreements issued to FHLB	856	877
Fair value of assets pledged as collateral	1,242	$ 1,211
Acquisition of mortgage loans
Loss Contingencies [Line Items]
Amount of purchase commitments	92
Purchase of limited partnership and private placement investments
Loss Contingencies [Line Items]
Amount of purchase commitments	872
Purchase of limited partnership and private placement investments | VOEs
Loss Contingencies [Line Items]
Amount of purchase commitments	$ 257

Commitments and Contingencies_2

Commitments and Contingencies - Restricted Assets (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Loss Contingencies [Line Items]
Fixed maturity collateral pledged to FHLB	$ 1,242	$ 1,211
FHLB restricted stock	53	55
Trading securities	44	48
Cash and Cash Equivalents	12	12
Total restricted assets	2,906	2,734
Securities pledged as collateral
Loss Contingencies [Line Items]
Fair value of loaned securities	1,273	1,159
Securities delivered as collateral	210	183
Securities Pledged under repurchase agreements, carrying value	72	66
Securities Loaned
Loss Contingencies [Line Items]
Securities delivered as collateral	$ 210	$ 183

Consolidated Investment Entit_3

Consolidated Investment Entities - Consolidated VIEs and VOEs and Nonconsolidated VIEs (Details) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2020USD ($)entityfundCLO	Mar. 31, 2019entity	Dec. 31, 2019USD ($)fundCLO
Variable Interest Entity [Line Items]
Total assets	$ 155,732		$ 169,051
Consolidated collateral loan obligations | CLO	3		3
Consolidated funds | fund	12		12
Number of deconsolidated investment entities | entity	0	0
Consolidated Investment Entities
Variable Interest Entity [Line Items]
Total assets	$ 2,155		$ 2,226
VIEs
Variable Interest Entity [Line Items]
Total assets	1,970		2,063
VOEs
Variable Interest Entity [Line Items]
Total assets	$ 185		$ 163
Number of sponsored investment funds accounted for as VOE | fund	1		1
VIEs, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Amount of ownership interest in unconsolidated CLOs	$ 339		$ 377
Voya Financial, Inc.
Variable Interest Entity [Line Items]
Total assets	10,872		12,273
Voya Financial, Inc. | Consolidated Investment Entities
Variable Interest Entity [Line Items]
Total assets	$ 292		$ 279
Senior secured corporate loans | VIEs
Variable Interest Entity [Line Items]
Default of collateral assets, percentage	1.00%		1.00%

Consolidated Investment Entit_4

Consolidated Investment Entities - Summary of the Components of the Consolidated Investment Entities (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Assets of Consolidated Investment Entities
Assets of Consolidated Investment Entities	$ 155,732	$ 169,051
Liabilities of Consolidated Investment Entities
Liabilities of Consolidated Investment Entities	147,467	158,821
Consolidated Investment Entities
Assets of Consolidated Investment Entities
Assets of Consolidated Investment Entities	2,155	2,226
Liabilities of Consolidated Investment Entities
Liabilities of Consolidated Investment Entities	1,040	1,126
VIEs
Assets of Consolidated Investment Entities
Assets of Consolidated Investment Entities	1,970	2,063
Liabilities of Consolidated Investment Entities
Liabilities of Consolidated Investment Entities	1,036	1,124
VIEs | Cash and cash equivalents
Assets of Consolidated Investment Entities
Assets of Consolidated Investment Entities	52	68
VIEs | Corporate loans, at fair value using the fair value option
Assets of Consolidated Investment Entities
Assets of Consolidated Investment Entities	432	513
VIEs | Limited partnerships/corporations, at fair value
Assets of Consolidated Investment Entities
Assets of Consolidated Investment Entities	1,470	1,470
VIEs | Other assets
Assets of Consolidated Investment Entities
Assets of Consolidated Investment Entities	16	12
VIEs | CLO notes, at fair value using the fair value option
Liabilities of Consolidated Investment Entities
Liabilities of Consolidated Investment Entities	368	474
VIEs | Other liabilities
Liabilities of Consolidated Investment Entities
Liabilities of Consolidated Investment Entities	668	650
VOEs
Assets of Consolidated Investment Entities
Assets of Consolidated Investment Entities	185	163
Liabilities of Consolidated Investment Entities
Liabilities of Consolidated Investment Entities	4	2
VOEs | Limited partnerships/corporations, at fair value
Assets of Consolidated Investment Entities
Assets of Consolidated Investment Entities	185	162
VOEs | Other assets
Assets of Consolidated Investment Entities
Assets of Consolidated Investment Entities	0	1
VOEs | Other liabilities
Liabilities of Consolidated Investment Entities
Liabilities of Consolidated Investment Entities	$ 4	$ 2

Consolidated Investment Entit_5

Consolidated Investment Entities - Fair Value Measurement (Details) - USD ($) $ in Millions	Mar. 30, 2020	Mar. 31, 2020	Dec. 31, 2019
VOEs | Private Equity Funds
Variable Interest Entity [Line Items]
Revolving lines of credit capacity		$ 670	$ 669
Renewal period for term loan		3 years
Outstanding borrowings		$ 585	602
VOEs | Minimum | Private Equity Funds
Variable Interest Entity [Line Items]
Basis spread on notes		1.50%
VOEs | Maximum | Private Equity Funds
Variable Interest Entity [Line Items]
Basis spread on notes		2.00%
VOEs | LIBOR | Private Equity Funds
Variable Interest Entity [Line Items]
Description of variable rate basis		LIBOR
VOEs | EURIBOR | Private Equity Funds
Variable Interest Entity [Line Items]
Description of variable rate basis		EURIBOR
Senior secured corporate loans | VIEs
Variable Interest Entity [Line Items]
Unpaid principal exceeds fair value, amount		$ 17	$ 18
Default of collateral assets, percentage		1.00%	1.00%
Weighted average maturity		6 years 3 months 18 days
Senior secured corporate loans | VIEs | Maximum
Variable Interest Entity [Line Items]
Basis spread on loans		10.00%
Senior secured corporate loans | VIEs | LIBOR
Variable Interest Entity [Line Items]
Description of variable rate basis		LIBOR
Senior secured corporate loans | VIEs | LIBOR | Minimum
Variable Interest Entity [Line Items]
Basis spread on notes		0.70%
Senior secured corporate loans | VIEs | LIBOR | Maximum
Variable Interest Entity [Line Items]
Basis spread on notes		5.40%
Senior secured corporate loans | VIEs | EURIBOR
Variable Interest Entity [Line Items]
Description of variable rate basis		EURIBOR
Senior secured corporate loans | VIEs | PRIME
Variable Interest Entity [Line Items]
Description of variable rate basis		PRIME
Credit Suisse | VOEs | Private Equity Funds
Variable Interest Entity [Line Items]
Basis spread on notes		285.00%
Commitment fee		85.00%
Revolving lines of credit capacity		$ 40
Outstanding borrowings		$ 0
Term of revolving credit agreement	3 years
Barclays Bank Plc. | VOEs | Private Equity Funds
Variable Interest Entity [Line Items]
Term of revolving credit agreement	5 years

Consolidated Investment Entit_6

Consolidated Investment Entities - Fair Value Hierarchy (Details) - Measured at fair value on a recurring basis - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets, Net Asset Value (NAV)	$ 1,655	$ 1,632
Assets, Including NAV	2,139	2,213
Liabilities	368	474
Cash and cash equivalents | VIEs
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	52	68
Corporate loans, at fair value using the fair value option | VIEs
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	432	513
Limited partnerships/corporations, at fair value | VIEs
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets, Net Asset Value (NAV)	1,470	1,470
Assets, Including NAV	1,470	1,470
Limited partnerships/corporations, at fair value | VOEs
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets, Net Asset Value (NAV)	185	162
Assets, Including NAV	185	162
CLO notes, at fair value using the fair value option | VIEs
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities	368	474
Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	52	68
Liabilities	0	0
Level 1 | Cash and cash equivalents | VIEs
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	52	68
Level 1 | Corporate loans, at fair value using the fair value option | VIEs
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	0	0
Level 1 | Limited partnerships/corporations, at fair value | VIEs
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	0	0
Level 1 | Limited partnerships/corporations, at fair value | VOEs
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	0	0
Level 1 | CLO notes, at fair value using the fair value option | VIEs
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities	0	0
Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	432	513
Liabilities	368	474
Level 2 | Cash and cash equivalents | VIEs
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	0	0
Level 2 | Corporate loans, at fair value using the fair value option | VIEs
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	432	513
Level 2 | Limited partnerships/corporations, at fair value | VIEs
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	0	0
Level 2 | Limited partnerships/corporations, at fair value | VOEs
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	0	0
Level 2 | CLO notes, at fair value using the fair value option | VIEs
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities	368	474
Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	0	0
Liabilities	0	0
Level 3 | Cash and cash equivalents | VIEs
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	0	0
Level 3 | Corporate loans, at fair value using the fair value option | VIEs
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	0	0
Level 3 | Limited partnerships/corporations, at fair value | VIEs
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	0	0
Level 3 | Limited partnerships/corporations, at fair value | VOEs
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	0	0
Level 3 | CLO notes, at fair value using the fair value option | VIEs
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities	$ 0	$ 0

Consolidated Investment Entit_7

Consolidated Investment Entities - Limited Partnerships (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Variable Interest Entity [Line Items]
Total assets	$ 155,732	$ 169,051
VIEs, Not Primary Beneficiary | Fixed maturities, available-for-sale, including securities pledged
Variable Interest Entity [Line Items]
Total assets	339	377
Maximum exposure to loss	339	377
VIEs, Not Primary Beneficiary | Limited partnership/corporations
Variable Interest Entity [Line Items]
Total assets	1,343	1,290
Maximum exposure to loss	$ 1,343	$ 1,290

Restructuring - Restructuring E

Restructuring - Restructuring Expense by Type (Details) - Organizational restructuring - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Restructuring Cost and Reserve [Line Items]
Cumulative Amounts Incurred to Date	$ 279
Severance benefits
Restructuring Cost and Reserve [Line Items]
Total restructuring expenses	(3)	$ 47
Cumulative Amounts Incurred to Date	55
Transition Costs
Restructuring Cost and Reserve [Line Items]
Total restructuring expenses	22	$ 36
Cumulative Amounts Incurred to Date	$ 224

Restructuring - Accrued Liabili

Restructuring - Accrued Liability for Restructuring Expense (Details) - Organizational restructuring $ in Millions	3 Months Ended
	Mar. 31, 2020USD ($)
Restructuring Reserve [Roll Forward]
Accrued liability as of January 1, 2020	$ 55
Provision	19
Payments	(22)
Accrued liability as of March 31, 2020	52
Severance Benefits
Restructuring Reserve [Roll Forward]
Accrued liability as of January 1, 2020	30
Provision	(3)
Payments	(7)
Accrued liability as of March 31, 2020	20
Transition Costs
Restructuring Reserve [Roll Forward]
Accrued liability as of January 1, 2020	25
Provision	22
Payments	(15)
Accrued liability as of March 31, 2020	$ 32

Restructuring - Narrative (Deta

Restructuring - Narrative (Details) - Organizational restructuring - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Minimum
Restructuring Cost and Reserve [Line Items]
Expected costs	$ 250
Maximum
Restructuring Cost and Reserve [Line Items]
Expected costs	300
Discontinued Operations, Held-for-sale
Restructuring Cost and Reserve [Line Items]
Restructuring expense	4
Continuing Operations
Restructuring Cost and Reserve [Line Items]
Restructuring expense	$ 19	$ 83

Segments - Narrative (Details)

Segments - Narrative (Details)	3 Months Ended
	Mar. 31, 2020segments
Segment Reporting [Abstract]
Number of operating segments	3

Segments - Operating Earnings B

Segments - Operating Earnings Before Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Segment Reporting Information [Line Items]
Income (loss) attributable to noncontrolling interest	$ 6	$ (1)
Less: Preferred stock dividends	14	10
Total adjustments to income (loss) from continuing operations	44	102
Adjustments
Segment Reporting Information [Line Items]
Net investment gains (losses) and related charges and adjustments	(8)	13
Net guaranteed benefit hedging gains (losses) and related charges and adjustments	(89)	(4)
Income (loss) related to businesses exited or to be exited through reinsurance or divestment	9	9
Income (loss) attributable to noncontrolling interest	6	(1)
Income (loss) related to early extinguishment of debt	0	0
Immediate recognition of net actuarial gains (losses) related to pension and other post-employment benefit obligations and gains (losses) from plan amendments and curtailments	0	66
Other adjustments	(22)	(92)
Total adjustments to income (loss) from continuing operations	(90)	1
Operating Segments
Segment Reporting Information [Line Items]
Adjusted operating earnings before income taxes	134	101
Operating Segments | Retirement
Segment Reporting Information [Line Items]
Adjusted operating earnings before income taxes	124	129
Operating Segments | Investment Management
Segment Reporting Information [Line Items]
Adjusted operating earnings before income taxes	40	34
Operating Segments | Employee Benefits
Segment Reporting Information [Line Items]
Adjusted operating earnings before income taxes	61	38
Operating Segments | Corporate
Segment Reporting Information [Line Items]
Adjusted operating earnings before income taxes	$ (91)	$ (100)

Segments - Operating Revenues (

Segments - Operating Revenues (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Segment Reporting Information [Line Items]
Total revenues	$ 1,685	$ 1,822
Adjustments
Segment Reporting Information [Line Items]
Total revenues	288	493
Net realized investment gains (losses) and related charges and adjustments	(8)	13
Gains (losses) on change in fair value of derivatives related to guaranteed benefits	(90)	(4)
Revenues related to businesses exited or to be exited through reinsurance or divestment	344	398
Revenues attributable to noncontrolling interest	9	4
Other adjustments	33	82
Operating Segments
Segment Reporting Information [Line Items]
Total revenues	1,397	1,329
Operating Segments | Retirement
Segment Reporting Information [Line Items]
Total revenues	677	648
Operating Segments | Investment Management
Segment Reporting Information [Line Items]
Total revenues	166	148
Operating Segments | Employee Benefits
Segment Reporting Information [Line Items]
Total revenues	543	508
Operating Segments | Corporate
Segment Reporting Information [Line Items]
Total revenues	11	25
Intersegment | Investment Management
Segment Reporting Information [Line Items]
Total revenues	$ 26	$ 26

Segments - Total Assets (Detail

Segments - Total Assets (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Total assets	$ 155,732	$ 169,051
Total assets, excluding assets held for sale	136,599	148,982
Assets held for sale	19,133	20,069
Noncontrolling Interest
Segment Reporting Information [Line Items]
Total assets	1,879	1,890
Total | Parent
Segment Reporting Information [Line Items]
Total assets	134,720	147,092
Operating Segments | Retirement
Segment Reporting Information [Line Items]
Total assets	106,068	118,024
Operating Segments | Investment Management
Segment Reporting Information [Line Items]
Total assets	648	745
Operating Segments | Employee Benefits
Segment Reporting Information [Line Items]
Total assets	2,642	3,117
Corporate | Parent
Segment Reporting Information [Line Items]
Total assets	$ 25,362	$ 25,206

Condensed Consolidating Finan_3

Condensed Consolidating Financial Information - Narrative (Details)	Mar. 31, 2020	Dec. 31, 2019
5.7% Senior Notes, due 2043 | Senior Notes
Debt Instrument [Line Items]
Annual interest rate on debt	5.70%	5.70%
3.65% Senior Notes, due 2026 | Senior Notes
Debt Instrument [Line Items]
Annual interest rate on debt	3.65%	3.65%
4.8% Senior Notes, due 2046 | Senior Notes
Debt Instrument [Line Items]
Annual interest rate on debt	4.80%	4.80%
3.125% Senior Notes, due 2024 | Senior Notes
Debt Instrument [Line Items]
Annual interest rate on debt	3.125%	3.125%
5.65% Fixed-to-Floating Rate Junior Subordinated Notes, due 2053 | Junior Subordinated Notes
Debt Instrument [Line Items]
Annual interest rate on debt	5.65%	5.65%
4.7% Fixed-to-Floating Rate Junior Subordinated Notes, due 2048 | Junior Subordinated Notes
Debt Instrument [Line Items]
Annual interest rate on debt	4.70%	4.70%
Voya Holdings Inc.
Debt Instrument [Line Items]
Ownership percentage by the company	100.00%

Condensed Consolidating Finan_4

Condensed Consolidating Financial Information - Balance Sheets (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2018
Investments:
Fixed maturities, available-for-sale, at fair value	$ 37,584	$ 39,663
Fixed maturities, at fair value using the fair value option	2,855	2,707
Equity securities, at fair value	176	196
Short-term investments	80	68
Mortgage loans on real estate, net of valuation allowance	6,969	6,878
Less: Allowance for credit losses	22	0
Mortgage loans on real estate, net	6,947	6,878
Policy loans	763	776
Limited partnerships/corporations	1,343	1,290
Derivatives	875	316
Investments in subsidiaries	0	0
Other investments	392	385
Total investments	52,570	53,687
Cash and cash equivalents	1,033	1,181	$ 806
Short-term investments under securities loan agreements, including collateral delivered	2,183	1,395
Accrued investment income	541	505
Premium receivable and reinsurance recoverable	3,744	3,732
Less: Allowance for credit losses on reinsurance recoverable	22	0
Premium receivable and reinsurance recoverable	3,722	3,732
Deferred policy acquisition costs and Value of business acquired	2,603	2,226	2,610	$ 2,973
Deferred income taxes	1,769	1,458
Loans to subsidiaries and affiliates	0	0
Due from subsidiaries and affiliates	0	0
Other assets	1,086	902
Assets related to consolidated investment entities:
Assets held in separate accounts	68,937	81,670
Assets held for sale	19,133	20,069
Total assets	155,732	169,051
Liabilities and Shareholders' Equity:
Future policy benefits	9,640	9,945
Contract owner account balances	41,981	40,923
Payables under securities loan and repurchase agreements, including collateral held	2,065	1,373
Short-term debt	1	1
Long-term debt	3,042	3,042
Derivatives	1,068	403
Pension and other postretirement provisions	442	468
Current income taxes	30	27
Due to subsidiaries and affiliates	0	0
Other liabilities	1,249	1,345
Liabilities related to consolidated investment entities:
Collateralized loan obligations notes, at fair value using the fair value option	368	474
Other liabilities	672	652
Liabilities related to separate accounts	68,937	81,670
Liabilities held for sale	17,972	18,498
Total liabilities	147,467	158,821
Shareholders' equity:
Total Voya Financial, Inc. shareholders' equity	7,427	9,408
Noncontrolling interest	838	822
Total shareholders' equity	8,265	10,230	9,806	$ 8,941
Total liabilities and shareholders' equity	155,732	169,051
Consolidating Adjustments
Investments:
Fixed maturities, available-for-sale, at fair value	(15)	(15)
Fixed maturities, at fair value using the fair value option	0	0
Equity securities, at fair value	0	0
Short-term investments	0	0
Mortgage loans on real estate, net of valuation allowance	0	0
Less: Allowance for credit losses	0	0
Mortgage loans on real estate, net	0	0
Policy loans	0	0
Limited partnerships/corporations	0	0
Derivatives	0	0
Investments in subsidiaries	(16,790)	(19,496)
Other investments	0	0
Total investments	(16,805)	(19,511)
Cash and cash equivalents	0	0	0
Short-term investments under securities loan agreements, including collateral delivered	0	0
Accrued investment income	0	0
Premium receivable and reinsurance recoverable	0	0
Less: Allowance for credit losses on reinsurance recoverable	0	0
Premium receivable and reinsurance recoverable	0	0
Deferred policy acquisition costs and Value of business acquired	0	0
Deferred income taxes	0	0
Loans to subsidiaries and affiliates	(871)	(233)
Due from subsidiaries and affiliates	(22)	(8)
Other assets	0	0
Assets related to consolidated investment entities:
Assets held in separate accounts	0	0
Assets held for sale	0	0
Total assets	(17,698)	(19,752)
Liabilities and Shareholders' Equity:
Future policy benefits	0	0
Contract owner account balances	0	0
Payables under securities loan and repurchase agreements, including collateral held	0	0
Short-term debt	(871)	(233)
Long-term debt	(15)	(15)
Derivatives	0	0
Pension and other postretirement provisions	0	0
Current income taxes	0	0
Due to subsidiaries and affiliates	(19)	(6)
Other liabilities	(3)	(2)
Liabilities related to consolidated investment entities:
Collateralized loan obligations notes, at fair value using the fair value option	0	0
Other liabilities	0	0
Liabilities related to separate accounts	0	0
Liabilities held for sale	0	0
Total liabilities	(908)	(256)
Shareholders' equity:
Total Voya Financial, Inc. shareholders' equity	(16,790)	(19,496)
Noncontrolling interest	0	0
Total shareholders' equity	(16,790)	(19,496)
Total liabilities and shareholders' equity	(17,698)	(19,752)
Parent Issuer
Investments:
Fixed maturities, available-for-sale, at fair value	5	5
Fixed maturities, at fair value using the fair value option	0	0
Equity securities, at fair value	0	0
Short-term investments	0	0
Mortgage loans on real estate, net of valuation allowance	0	0
Less: Allowance for credit losses	0	0
Mortgage loans on real estate, net	0	0
Policy loans	0	0
Limited partnerships/corporations	4	4
Derivatives	50	49
Investments in subsidiaries	9,479	11,003
Other investments	0	0
Total investments	9,538	11,061
Cash and cash equivalents	221	212	212
Short-term investments under securities loan agreements, including collateral delivered	11	11
Accrued investment income	0	0
Premium receivable and reinsurance recoverable	0	0
Less: Allowance for credit losses on reinsurance recoverable	0	0
Premium receivable and reinsurance recoverable	0	0
Deferred policy acquisition costs and Value of business acquired	0	0
Deferred income taxes	828	816
Loans to subsidiaries and affiliates	245	164
Due from subsidiaries and affiliates	5	2
Other assets	24	7
Assets related to consolidated investment entities:
Assets held in separate accounts	0	0
Assets held for sale	0	0
Total assets	10,872	12,273
Liabilities and Shareholders' Equity:
Future policy benefits	0	0
Contract owner account balances	0	0
Payables under securities loan and repurchase agreements, including collateral held	(28)	0
Short-term debt	626	69
Long-term debt	2,669	2,669
Derivatives	77	50
Pension and other postretirement provisions	0	0
Current income taxes	28	28
Due to subsidiaries and affiliates	15	4
Other liabilities	58	45
Liabilities related to consolidated investment entities:
Collateralized loan obligations notes, at fair value using the fair value option	0	0
Other liabilities	0	0
Liabilities related to separate accounts	0	0
Liabilities held for sale	0	0
Total liabilities	3,445	2,865
Shareholders' equity:
Total Voya Financial, Inc. shareholders' equity	7,427	9,408
Noncontrolling interest	0	0
Total shareholders' equity	7,427	9,408
Total liabilities and shareholders' equity	10,872	12,273
Subsidiary Guarantor
Investments:
Fixed maturities, available-for-sale, at fair value	0	0
Fixed maturities, at fair value using the fair value option	0	0
Equity securities, at fair value	0	0
Short-term investments	0	0
Mortgage loans on real estate, net of valuation allowance	0	0
Less: Allowance for credit losses	0	0
Mortgage loans on real estate, net	0	0
Policy loans	0	0
Limited partnerships/corporations	0	0
Derivatives	0	0
Investments in subsidiaries	7,311	8,493
Other investments	0	0
Total investments	7,311	8,493
Cash and cash equivalents	0	0	0
Short-term investments under securities loan agreements, including collateral delivered	0	0
Accrued investment income	0	0
Premium receivable and reinsurance recoverable	0	0
Less: Allowance for credit losses on reinsurance recoverable	0	0
Premium receivable and reinsurance recoverable	0	0
Deferred policy acquisition costs and Value of business acquired	0	0
Deferred income taxes	42	39
Loans to subsidiaries and affiliates	0	0
Due from subsidiaries and affiliates	0	0
Other assets	0	0
Assets related to consolidated investment entities:
Assets held in separate accounts	0	0
Assets held for sale	0	0
Total assets	7,353	8,532
Liabilities and Shareholders' Equity:
Future policy benefits	0	0
Contract owner account balances	0	0
Payables under securities loan and repurchase agreements, including collateral held	0	0
Short-term debt	67	87
Long-term debt	371	371
Derivatives	0	0
Pension and other postretirement provisions	0	0
Current income taxes	(18)	(17)
Due to subsidiaries and affiliates	0	0
Other liabilities	4	10
Liabilities related to consolidated investment entities:
Collateralized loan obligations notes, at fair value using the fair value option	0	0
Other liabilities	0	0
Liabilities related to separate accounts	0	0
Liabilities held for sale	0	0
Total liabilities	424	451
Shareholders' equity:
Total Voya Financial, Inc. shareholders' equity	6,929	8,081
Noncontrolling interest	0	0
Total shareholders' equity	6,929	8,081
Total liabilities and shareholders' equity	7,353	8,532
Non-Guarantor Subsidiaries
Investments:
Fixed maturities, available-for-sale, at fair value	37,594	39,673
Fixed maturities, at fair value using the fair value option	2,855	2,707
Equity securities, at fair value	176	196
Short-term investments	80	68
Mortgage loans on real estate, net of valuation allowance	6,969	6,878
Less: Allowance for credit losses	22	0
Mortgage loans on real estate, net	6,947	6,878
Policy loans	763	776
Limited partnerships/corporations	1,339	1,286
Derivatives	825	267
Investments in subsidiaries	0	0
Other investments	392	385
Total investments	52,526	53,644
Cash and cash equivalents	812	969	$ 594
Short-term investments under securities loan agreements, including collateral delivered	2,172	1,384
Accrued investment income	541	505
Premium receivable and reinsurance recoverable	3,744	3,732
Less: Allowance for credit losses on reinsurance recoverable	22	0
Premium receivable and reinsurance recoverable	3,722	3,732
Deferred policy acquisition costs and Value of business acquired	2,603	2,226
Deferred income taxes	899	603
Loans to subsidiaries and affiliates	626	69
Due from subsidiaries and affiliates	17	6
Other assets	1,062	895
Assets related to consolidated investment entities:
Assets held in separate accounts	68,937	81,670
Assets held for sale	19,133	20,069
Total assets	155,205	167,998
Liabilities and Shareholders' Equity:
Future policy benefits	9,640	9,945
Contract owner account balances	41,981	40,923
Payables under securities loan and repurchase agreements, including collateral held	2,093	1,373
Short-term debt	179	78
Long-term debt	17	17
Derivatives	991	353
Pension and other postretirement provisions	442	468
Current income taxes	20	16
Due to subsidiaries and affiliates	4	2
Other liabilities	1,190	1,292
Liabilities related to consolidated investment entities:
Collateralized loan obligations notes, at fair value using the fair value option	368	474
Other liabilities	672	652
Liabilities related to separate accounts	68,937	81,670
Liabilities held for sale	17,972	18,498
Total liabilities	144,506	155,761
Shareholders' equity:
Total Voya Financial, Inc. shareholders' equity	9,861	11,415
Noncontrolling interest	838	822
Total shareholders' equity	10,699	12,237
Total liabilities and shareholders' equity	155,205	167,998
Limited partnerships/corporations, at fair value
Assets related to consolidated investment entities:
Assets related to consolidated investment entities	1,655	1,632
Limited partnerships/corporations, at fair value | Consolidating Adjustments
Assets related to consolidated investment entities:
Assets related to consolidated investment entities	0	0
Limited partnerships/corporations, at fair value | Parent Issuer
Assets related to consolidated investment entities:
Assets related to consolidated investment entities	0	0
Limited partnerships/corporations, at fair value | Subsidiary Guarantor
Assets related to consolidated investment entities:
Assets related to consolidated investment entities	0	0
Limited partnerships/corporations, at fair value | Non-Guarantor Subsidiaries
Assets related to consolidated investment entities:
Assets related to consolidated investment entities	1,655	1,632
Cash and cash equivalents
Assets related to consolidated investment entities:
Assets related to consolidated investment entities	52	68
Cash and cash equivalents | Consolidating Adjustments
Assets related to consolidated investment entities:
Assets related to consolidated investment entities	0	0
Cash and cash equivalents | Parent Issuer
Assets related to consolidated investment entities:
Assets related to consolidated investment entities	0	0
Cash and cash equivalents | Subsidiary Guarantor
Assets related to consolidated investment entities:
Assets related to consolidated investment entities	0	0
Cash and cash equivalents | Non-Guarantor Subsidiaries
Assets related to consolidated investment entities:
Assets related to consolidated investment entities	52	68
Corporate loans, at fair value using the fair value option
Assets related to consolidated investment entities:
Assets related to consolidated investment entities	432	513
Corporate loans, at fair value using the fair value option | Consolidating Adjustments
Assets related to consolidated investment entities:
Assets related to consolidated investment entities	0	0
Corporate loans, at fair value using the fair value option | Parent Issuer
Assets related to consolidated investment entities:
Assets related to consolidated investment entities	0	0
Corporate loans, at fair value using the fair value option | Subsidiary Guarantor
Assets related to consolidated investment entities:
Assets related to consolidated investment entities	0	0
Corporate loans, at fair value using the fair value option | Non-Guarantor Subsidiaries
Assets related to consolidated investment entities:
Assets related to consolidated investment entities	432	513
Other assets
Assets related to consolidated investment entities:
Assets related to consolidated investment entities	16	13
Other assets | Consolidating Adjustments
Assets related to consolidated investment entities:
Assets related to consolidated investment entities	0	0
Other assets | Parent Issuer
Assets related to consolidated investment entities:
Assets related to consolidated investment entities	0	0
Other assets | Subsidiary Guarantor
Assets related to consolidated investment entities:
Assets related to consolidated investment entities	0	0
Other assets | Non-Guarantor Subsidiaries
Assets related to consolidated investment entities:
Assets related to consolidated investment entities	16	13
Collateral Pledged
Investments:
Securities pledged	1,555	1,408
Collateral Pledged | Consolidating Adjustments
Investments:
Securities pledged	0	0
Collateral Pledged | Parent Issuer
Investments:
Securities pledged	0	0
Collateral Pledged | Subsidiary Guarantor
Investments:
Securities pledged	0	0
Collateral Pledged | Non-Guarantor Subsidiaries
Investments:
Securities pledged	$ 1,555	$ 1,408

Condensed Consolidating Finan_5

Condensed Consolidating Financial Information - Statements of Operations (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Revenues:
Net investment income	$ 698	$ 658
Fee income	505	482
Premiums	608	575
Net realized capital gains (losses):
Total impairments	(20)	(26)
Other net realized capital gains (losses)	(213)	14
Total net realized capital gains (losses)	(233)	(12)
Other revenue	92	114
Income (loss) related to consolidated investment entities:
Net investment income	15	5
Total revenues	1,685	1,822
Benefits and expenses:
Policyholder benefits	596	645
Interest credited to contract owner account balances	286	289
Operating expenses	640	682
Net amortization of Deferred policy acquisition costs and Value of business acquired	76	57
Interest expense	40	42
Operating expenses related to consolidated investment entities:
Interest expense	3	5
Total benefits and expenses	1,641	1,720
Income (loss) from continuing operations before income taxes	44	102
Income tax expense (benefit)	(6)	9
Income (loss) from continuing operations	50	93
Income (loss) from discontinued operations, net of tax	(128)	(20)
Net income (loss) before equity in earnings (losses) of unconsolidated affiliates	(78)	73
Equity in earnings (losses) of subsidiaries, net of tax	0	0
Net income (loss)	(78)	73
Less: Net income (loss) attributable to noncontrolling interest	6	(1)
Net income (loss) available to Voya Financial, Inc.	(84)	74
Less: Preferred stock dividends	14	10
Net income (loss) available to Voya Financial, Inc.'s common shareholders	(98)	64
Consolidating Adjustments
Revenues:
Net investment income	(3)	(3)
Fee income	0	0
Premiums	0	0
Net realized capital gains (losses):
Total impairments	0	0
Other net realized capital gains (losses)	0	0
Total net realized capital gains (losses)	0	0
Other revenue	0	0
Income (loss) related to consolidated investment entities:
Net investment income	0	0
Total revenues	(3)	(3)
Benefits and expenses:
Policyholder benefits	0	0
Interest credited to contract owner account balances	0	0
Operating expenses	0	0
Net amortization of Deferred policy acquisition costs and Value of business acquired	0	0
Interest expense	(3)	(3)
Operating expenses related to consolidated investment entities:
Interest expense	0	0
Total benefits and expenses	(3)	(3)
Income (loss) from continuing operations before income taxes	0	0
Income tax expense (benefit)	0	0
Income (loss) from continuing operations	0	0
Income (loss) from discontinued operations, net of tax	0	0
Net income (loss) before equity in earnings (losses) of unconsolidated affiliates	0	0
Equity in earnings (losses) of subsidiaries, net of tax	(100)	(162)
Net income (loss)	(100)	(162)
Less: Net income (loss) attributable to noncontrolling interest	0	0
Net income (loss) available to Voya Financial, Inc.	(100)	(162)
Less: Preferred stock dividends	0	0
Net income (loss) available to Voya Financial, Inc.'s common shareholders	(100)	(162)
Parent Issuer
Revenues:
Net investment income	3	15
Fee income	0	0
Premiums	0	0
Net realized capital gains (losses):
Total impairments	0	0
Other net realized capital gains (losses)	(26)	0
Total net realized capital gains (losses)	(26)	0
Other revenue	0	0
Income (loss) related to consolidated investment entities:
Net investment income	0	0
Total revenues	(23)	15
Benefits and expenses:
Policyholder benefits	0	0
Interest credited to contract owner account balances	0	0
Operating expenses	4	3
Net amortization of Deferred policy acquisition costs and Value of business acquired	0	0
Interest expense	34	37
Operating expenses related to consolidated investment entities:
Interest expense	0	0
Total benefits and expenses	38	40
Income (loss) from continuing operations before income taxes	(61)	(25)
Income tax expense (benefit)	(13)	(5)
Income (loss) from continuing operations	(48)	(20)
Income (loss) from discontinued operations, net of tax	0	0
Net income (loss) before equity in earnings (losses) of unconsolidated affiliates	(48)	(20)
Equity in earnings (losses) of subsidiaries, net of tax	(36)	94
Net income (loss)	(84)	74
Less: Net income (loss) attributable to noncontrolling interest	0	0
Net income (loss) available to Voya Financial, Inc.	(84)	74
Less: Preferred stock dividends	14	10
Net income (loss) available to Voya Financial, Inc.'s common shareholders	(98)	64
Subsidiary Guarantor
Revenues:
Net investment income	0	0
Fee income	0	0
Premiums	0	0
Net realized capital gains (losses):
Total impairments	0	0
Other net realized capital gains (losses)	0	0
Total net realized capital gains (losses)	0	0
Other revenue	0	0
Income (loss) related to consolidated investment entities:
Net investment income	0	0
Total revenues	0	0
Benefits and expenses:
Policyholder benefits	0	0
Interest credited to contract owner account balances	0	0
Operating expenses	0	0
Net amortization of Deferred policy acquisition costs and Value of business acquired	0	0
Interest expense	7	6
Operating expenses related to consolidated investment entities:
Interest expense	0	0
Total benefits and expenses	7	6
Income (loss) from continuing operations before income taxes	(7)	(6)
Income tax expense (benefit)	(3)	(1)
Income (loss) from continuing operations	(4)	(5)
Income (loss) from discontinued operations, net of tax	0	(79)
Net income (loss) before equity in earnings (losses) of unconsolidated affiliates	(4)	(84)
Equity in earnings (losses) of subsidiaries, net of tax	136	68
Net income (loss)	132	(16)
Less: Net income (loss) attributable to noncontrolling interest	0	0
Net income (loss) available to Voya Financial, Inc.	132	(16)
Less: Preferred stock dividends	0	0
Net income (loss) available to Voya Financial, Inc.'s common shareholders	132	(16)
Non-Guarantor Subsidiaries
Revenues:
Net investment income	698	646
Fee income	505	482
Premiums	608	575
Net realized capital gains (losses):
Total impairments	(20)	(26)
Other net realized capital gains (losses)	(187)	14
Total net realized capital gains (losses)	(207)	(12)
Other revenue	92	114
Income (loss) related to consolidated investment entities:
Net investment income	15	5
Total revenues	1,711	1,810
Benefits and expenses:
Policyholder benefits	596	645
Interest credited to contract owner account balances	286	289
Operating expenses	636	679
Net amortization of Deferred policy acquisition costs and Value of business acquired	76	57
Interest expense	2	2
Operating expenses related to consolidated investment entities:
Interest expense	3	5
Total benefits and expenses	1,599	1,677
Income (loss) from continuing operations before income taxes	112	133
Income tax expense (benefit)	10	15
Income (loss) from continuing operations	102	118
Income (loss) from discontinued operations, net of tax	(128)	59
Net income (loss) before equity in earnings (losses) of unconsolidated affiliates	(26)	177
Equity in earnings (losses) of subsidiaries, net of tax	0	0
Net income (loss)	(26)	177
Less: Net income (loss) attributable to noncontrolling interest	6	(1)
Net income (loss) available to Voya Financial, Inc.	(32)	178
Less: Preferred stock dividends	0	0
Net income (loss) available to Voya Financial, Inc.'s common shareholders	$ (32)	$ 178

Condensed Consolidating Finan_6

Condensed Consolidating Financial Information - Statements of Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	$ (78)	$ 73
Other comprehensive income (loss), before tax:
Unrealized gains (losses) on securities	(1,884)	1,284
Impairments	0	1
Pension and other postretirement benefits liability	(1)	(1)
Other comprehensive income (loss), before tax	(1,885)	1,284
Income tax expense (benefit) related to items of other comprehensive income (loss)	(395)	268
Other comprehensive income (loss), after tax	(1,490)	1,016
Comprehensive income (loss)	(1,568)	1,089
Less: Comprehensive income (loss) attributable to noncontrolling interest	6	(1)
Comprehensive income (loss) attributable to Voya Financial, Inc.	(1,574)	1,090
Consolidating Adjustments
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	(100)	(162)
Other comprehensive income (loss), before tax:
Unrealized gains (losses) on securities	3,422	(2,320)
Impairments	0	(2)
Pension and other postretirement benefits liability	1	1
Other comprehensive income (loss), before tax	3,423	(2,321)
Income tax expense (benefit) related to items of other comprehensive income (loss)	719	(484)
Other comprehensive income (loss), after tax	2,704	(1,837)
Comprehensive income (loss)	2,604	(1,999)
Less: Comprehensive income (loss) attributable to noncontrolling interest	0	0
Comprehensive income (loss) attributable to Voya Financial, Inc.	2,604	(1,999)
Parent Issuer
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	(84)	74
Other comprehensive income (loss), before tax:
Unrealized gains (losses) on securities	(1,884)	1,284
Impairments	0	1
Pension and other postretirement benefits liability	(1)	(1)
Other comprehensive income (loss), before tax	(1,885)	1,284
Income tax expense (benefit) related to items of other comprehensive income (loss)	(395)	268
Other comprehensive income (loss), after tax	(1,490)	1,016
Comprehensive income (loss)	(1,574)	1,090
Less: Comprehensive income (loss) attributable to noncontrolling interest	0	0
Comprehensive income (loss) attributable to Voya Financial, Inc.	(1,574)	1,090
Subsidiary Guarantor
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	132	(16)
Other comprehensive income (loss), before tax:
Unrealized gains (losses) on securities	(1,537)	1,036
Impairments	0	1
Pension and other postretirement benefits liability	0	0
Other comprehensive income (loss), before tax	(1,537)	1,037
Income tax expense (benefit) related to items of other comprehensive income (loss)	(323)	216
Other comprehensive income (loss), after tax	(1,214)	821
Comprehensive income (loss)	(1,082)	805
Less: Comprehensive income (loss) attributable to noncontrolling interest	0	0
Comprehensive income (loss) attributable to Voya Financial, Inc.	(1,082)	805
Non-Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	(26)	177
Other comprehensive income (loss), before tax:
Unrealized gains (losses) on securities	(1,885)	1,284
Impairments	0	1
Pension and other postretirement benefits liability	(1)	(1)
Other comprehensive income (loss), before tax	(1,886)	1,284
Income tax expense (benefit) related to items of other comprehensive income (loss)	(396)	268
Other comprehensive income (loss), after tax	(1,490)	1,016
Comprehensive income (loss)	(1,516)	1,193
Less: Comprehensive income (loss) attributable to noncontrolling interest	6	(1)
Comprehensive income (loss) attributable to Voya Financial, Inc.	$ (1,522)	$ 1,194

Condensed Consolidating Finan_7

Condensed Consolidating Financial Information - Statements of Cash Flows (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Condensed Financial Statements, Captions [Line Items]
Net cash provided by operating activities	$ (76)	$ 131
Proceeds from the sale, maturity, disposal or redemption of:
Fixed maturities	1,185	2,078
Equity securities	2	9
Mortgage loans on real estate	144	307
Limited partnerships/corporations	71	37
Acquisition of:
Fixed maturities	(1,537)	(2,035)
Equity securities	(1)	(18)
Mortgage loans on real estate	(234)	(155)
Limited partnerships/corporations	(112)	(60)
Short-term investments, net	(12)	(9)
Derivatives, net	174	45
Sales from consolidated investment entities	63	57
Purchases within consolidated investment entities	(206)	(91)
Maturity (issuance) of short-term intercompany loans, net	0	0
Return of capital contributions and dividends from subsidiaries	0	0
Collateral (delivered) received, net	(96)	(107)
Other investments, net	(11)	(26)
Net cash used in investing activities - discontinued operations	(241)	(76)
Net cash (used in) provided by investing activities	(811)	(44)
Cash Flows from Financing Activities:
Deposits received for investment contracts	2,038	1,076
Maturities and withdrawals from investment contracts	(1,399)	(1,525)
Settlements on deposit contracts	(2)	(2)
Net proceeds from (repayments of) short-term intercompany loans	0	0
Return of capital contributions and dividends to parent	0	0
Borrowings of consolidated investment entities	122	36
Repayments of borrowings of consolidated investment entities	(176)	0
Contributions from (distributions to) participants in consolidated investment entities	348	(25)
Proceeds from issuance of common stock, net	2	2
Share-based compensation	(14)	(15)
Common stock acquired - Share repurchase	(366)	(250)
Dividends paid on common stock	(20)	(1)
Dividends paid on preferred stock	(14)	(10)
Principal payments for financing leases	(5)	0
Net cash provided by financing activities - discontinued operations	213	122
Net cash provided by (used in) financing activities	727	(592)
Net (decrease) increase in cash and cash equivalents	(160)	(505)
Cash and cash equivalents, beginning of period	1,472	1,538
Cash and cash equivalents, end of period	1,312	1,033
Less: Cash and cash equivalents of discontinued operations, end of period	279	227
Cash and cash equivalents of continuing operations, end of period	1,033	806	$ 1,181
Consolidating Adjustments
Condensed Financial Statements, Captions [Line Items]
Net cash provided by operating activities	(27)	(26)
Proceeds from the sale, maturity, disposal or redemption of:
Fixed maturities	0	0
Equity securities	0	0
Mortgage loans on real estate	0	0
Limited partnerships/corporations	0	0
Acquisition of:
Fixed maturities	0	0
Equity securities	0	0
Mortgage loans on real estate	0	0
Limited partnerships/corporations	0	0
Short-term investments, net	0	0
Derivatives, net	0	0
Sales from consolidated investment entities	0	0
Purchases within consolidated investment entities	0	0
Maturity (issuance) of short-term intercompany loans, net	638	271
Return of capital contributions and dividends from subsidiaries	(7)	(204)
Collateral (delivered) received, net	0	0
Other investments, net	0	0
Net cash used in investing activities - discontinued operations	0	0
Net cash (used in) provided by investing activities	631	67
Cash Flows from Financing Activities:
Deposits received for investment contracts	0	0
Maturities and withdrawals from investment contracts	0	0
Settlements on deposit contracts	0	0
Net proceeds from (repayments of) short-term intercompany loans	(638)	(271)
Return of capital contributions and dividends to parent	34	230
Borrowings of consolidated investment entities	0	0
Repayments of borrowings of consolidated investment entities	0
Contributions from (distributions to) participants in consolidated investment entities	0	0
Proceeds from issuance of common stock, net	0	0
Share-based compensation	0	0
Common stock acquired - Share repurchase	0	0
Dividends paid on common stock	0	0
Dividends paid on preferred stock	0	0
Principal payments for financing leases	0
Net cash provided by financing activities - discontinued operations	0	0
Net cash provided by (used in) financing activities	(604)	(41)
Net (decrease) increase in cash and cash equivalents	0	0
Cash and cash equivalents, beginning of period	0	0
Cash and cash equivalents, end of period	0	0
Less: Cash and cash equivalents of discontinued operations, end of period	0	0
Cash and cash equivalents of continuing operations, end of period	0	0	0
Parent Issuer
Condensed Financial Statements, Captions [Line Items]
Net cash provided by operating activities	(27)	(42)
Proceeds from the sale, maturity, disposal or redemption of:
Fixed maturities	0	0
Equity securities	0	7
Mortgage loans on real estate	0	0
Limited partnerships/corporations	0	0
Acquisition of:
Fixed maturities	0	0
Equity securities	0	(17)
Mortgage loans on real estate	0	0
Limited partnerships/corporations	0	0
Short-term investments, net	0	0
Derivatives, net	0	0
Sales from consolidated investment entities	0	0
Purchases within consolidated investment entities	0	0
Maturity (issuance) of short-term intercompany loans, net	(81)	(71)
Return of capital contributions and dividends from subsidiaries	0	200
Collateral (delivered) received, net	(28)	0
Other investments, net	0	0
Net cash used in investing activities - discontinued operations	0	0
Net cash (used in) provided by investing activities	(109)	119
Cash Flows from Financing Activities:
Deposits received for investment contracts	0	0
Maturities and withdrawals from investment contracts	0	0
Settlements on deposit contracts	0	0
Net proceeds from (repayments of) short-term intercompany loans	557	200
Return of capital contributions and dividends to parent	0	0
Borrowings of consolidated investment entities	0	0
Repayments of borrowings of consolidated investment entities	0
Contributions from (distributions to) participants in consolidated investment entities	0	0
Proceeds from issuance of common stock, net	2	2
Share-based compensation	(14)	(15)
Common stock acquired - Share repurchase	(366)	(250)
Dividends paid on common stock	(20)	(1)
Dividends paid on preferred stock	(14)	(10)
Principal payments for financing leases	0
Net cash provided by financing activities - discontinued operations	0	0
Net cash provided by (used in) financing activities	145	(74)
Net (decrease) increase in cash and cash equivalents	9	3
Cash and cash equivalents, beginning of period	212	209
Cash and cash equivalents, end of period	221	212
Less: Cash and cash equivalents of discontinued operations, end of period	0	0
Cash and cash equivalents of continuing operations, end of period	221	212	212
Subsidiary Guarantor
Condensed Financial Statements, Captions [Line Items]
Net cash provided by operating activities	13	16
Proceeds from the sale, maturity, disposal or redemption of:
Fixed maturities	0	0
Equity securities	0	0
Mortgage loans on real estate	0	0
Limited partnerships/corporations	0	0
Acquisition of:
Fixed maturities	0	0
Equity securities	0	0
Mortgage loans on real estate	0	0
Limited partnerships/corporations	0	0
Short-term investments, net	0	0
Derivatives, net	0	0
Sales from consolidated investment entities	0	0
Purchases within consolidated investment entities	0	0
Maturity (issuance) of short-term intercompany loans, net	0	0
Return of capital contributions and dividends from subsidiaries	7	4
Collateral (delivered) received, net	0	0
Other investments, net	0	0
Net cash used in investing activities - discontinued operations	0	0
Net cash (used in) provided by investing activities	7	4
Cash Flows from Financing Activities:
Deposits received for investment contracts	0	0
Maturities and withdrawals from investment contracts	0	0
Settlements on deposit contracts	0	0
Net proceeds from (repayments of) short-term intercompany loans	(20)	8
Return of capital contributions and dividends to parent	0	(30)
Borrowings of consolidated investment entities	0	0
Repayments of borrowings of consolidated investment entities	0
Contributions from (distributions to) participants in consolidated investment entities	0	0
Proceeds from issuance of common stock, net	0	0
Share-based compensation	0	0
Common stock acquired - Share repurchase	0	0
Dividends paid on common stock	0	0
Dividends paid on preferred stock	0	0
Principal payments for financing leases	0
Net cash provided by financing activities - discontinued operations	0	0
Net cash provided by (used in) financing activities	(20)	(22)
Net (decrease) increase in cash and cash equivalents	0	(2)
Cash and cash equivalents, beginning of period	0	2
Cash and cash equivalents, end of period	0	0
Less: Cash and cash equivalents of discontinued operations, end of period	0	0
Cash and cash equivalents of continuing operations, end of period	0	0	0
Non-Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Net cash provided by operating activities	(35)	183
Proceeds from the sale, maturity, disposal or redemption of:
Fixed maturities	1,185	2,078
Equity securities	2	2
Mortgage loans on real estate	144	307
Limited partnerships/corporations	71	37
Acquisition of:
Fixed maturities	(1,537)	(2,035)
Equity securities	(1)	(1)
Mortgage loans on real estate	(234)	(155)
Limited partnerships/corporations	(112)	(60)
Short-term investments, net	(12)	(9)
Derivatives, net	174	45
Sales from consolidated investment entities	63	57
Purchases within consolidated investment entities	(206)	(91)
Maturity (issuance) of short-term intercompany loans, net	(557)	(200)
Return of capital contributions and dividends from subsidiaries	0	0
Collateral (delivered) received, net	(68)	(107)
Other investments, net	(11)	(26)
Net cash used in investing activities - discontinued operations	(241)	(76)
Net cash (used in) provided by investing activities	(1,340)	(234)
Cash Flows from Financing Activities:
Deposits received for investment contracts	2,038	1,076
Maturities and withdrawals from investment contracts	(1,399)	(1,525)
Settlements on deposit contracts	(2)	(2)
Net proceeds from (repayments of) short-term intercompany loans	101	63
Return of capital contributions and dividends to parent	(34)	(200)
Borrowings of consolidated investment entities	122	36
Repayments of borrowings of consolidated investment entities	(176)
Contributions from (distributions to) participants in consolidated investment entities	348	(25)
Proceeds from issuance of common stock, net	0	0
Share-based compensation	0	0
Common stock acquired - Share repurchase	0	0
Dividends paid on common stock	0	0
Dividends paid on preferred stock	0	0
Principal payments for financing leases	(5)
Net cash provided by financing activities - discontinued operations	213	122
Net cash provided by (used in) financing activities	1,206	(455)
Net (decrease) increase in cash and cash equivalents	(169)	(506)
Cash and cash equivalents, beginning of period	1,260	1,327
Cash and cash equivalents, end of period	1,091	821
Less: Cash and cash equivalents of discontinued operations, end of period	279	227
Cash and cash equivalents of continuing operations, end of period	$ 812	$ 594	$ 969