Equitable Financial Life Insurance 10-K 12 Mar 20 2019 FY Annual report Financial data

DOCUMENT AND ENTITY INFORMATION

DOCUMENT AND ENTITY INFORMATION - USD ($)	12 Months Ended
	Dec. 31, 2019	Mar. 10, 2020	Jun. 30, 2019
Document and Entity Information [Abstract]
Document Type	10-K
Document Period End Date	Dec. 31, 2019
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2019
Amendment Flag	false
Entity Registrant Name	AXA EQUITABLE LIFE INSURANCE CO
Entity Central Index Key	0000727920
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Well-known Seasoned Issuer	No
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Common Stock, Shares Outstanding		2,000,000
Entity Public Float			$ 0
Entity Shell Company	false

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions		Dec. 31, 2019	Dec. 31, 2018
Investments:
Fixed maturities available-for-sale, at fair value (amortized cost of $59,278 and $42,492)		$ 62,362	$ 41,915
Mortgage loans on real estate (net of valuation allowance of $0 and $7)		12,090	11,818
Real estate held for production of income	[1]	27	52
Policy loans		3,270	3,267
Other equity investments	[1]	1,149	1,144
Trading securities, at fair value		6,598	15,166
Other invested assets		2,129	1,554
Total investments		87,625	74,916
Cash and cash equivalents		1,492	2,622
Deferred policy acquisition costs		4,337	5,011
Amounts due from reinsurers		3,001	3,124
Loans to affiliates		1,200	600
GMIB reinsurance contract asset, at fair value		2,466	1,991
Current and deferred income taxes		224	438
Other assets		3,050	2,763
Separate Accounts assets		124,646	108,487
Total Assets		228,041	199,952
LIABILITIES
Policyholders’ account balances		55,421	46,403
Future policy benefits and other policyholders' liabilities		33,976	29,808
Broker-dealer related payables		428	69
Securities sold under agreements to repurchase		0	573
Amounts due to reinsurers		105	113
Loans from affiliates		0	572
Other liabilities		1,768	1,460
Separate Accounts liabilities		124,646	108,487
Total Liabilities		216,344	187,485
Redeemable noncontrolling interest	[2]	39	39
Commitments and contingent liabilities
Equity attributable to Equitable Life:
Common stock, $1.25 par value; 2,000,000 shares authorized, issued and outstanding		2	2
Additional paid-in capital		7,809	7,807
Retained earnings		2,242	5,098
Accumulated other comprehensive income (loss)		1,592	(491)
Total equity attributable to Equitable Life		11,645	12,416
Noncontrolling interest		13	12
Total Equity		11,658	12,428
Total Liabilities, Redeemable Noncontrolling Interest and Equity		$ 228,041	$ 199,952
[1]	See Note 2 for details of balances with variable interest entities.
[2]	See Note 20 for details of Redeemable noncontrolling interest.

CONSOLIDATED BALANCE SHEETS (PA

CONSOLIDATED BALANCE SHEETS (PARENTHETICAL) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Fixed maturities available-for-sale, amortized cost	$ 59,278	$ 42,492
Mortgage loans on real estate, valuation allowances	$ 0	$ 7
Common stock par value (in dollars per share)	$ 1.25	$ 1.25
Common stock authorized (in shares)	2,000,000	2,000,000
Common stock issued (in shares)	2,000,000	2,000,000
Common stock outstanding (in shares)	2,000,000	2,000,000
Fixed maturities
Fixed maturities available-for-sale, amortized cost	$ 59,278	$ 42,492

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME (LOSS) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
REVENUES
Policy charges and fee income	$ 3,450	$ 3,523	$ 3,294
Premiums	936	862	904
Net derivative gains (losses)	(3,820)	(1,010)	894
Net investment income (loss)	3,298	2,478	2,441
Investment gains (losses), net:
Total other-than-temporary impairment losses	0	(37)	(13)
Other investment gains (losses), net	206	41	(112)
Total investment gains (losses), net	206	4	(125)
Investment management and service fees	1,022	1,029	1,007
Other income	56	65	41
Total revenues	5,148	6,951	8,456
BENEFITS AND OTHER DEDUCTIONS
Policyholders’ benefits	4,119	3,005	3,473
Interest credited to policyholders’ account balances	1,127	1,002	921
Compensation and benefits	335	422	327
Commissions	629	620	628
Interest expense	4	34	23
Increase to expense line item:	452	431	900
Other operating costs and expenses	912	2,918	635
Total benefits and other deductions	7,578	8,432	6,907
Income (loss) from continuing operations, before income taxes	(2,430)	(1,481)	1,549
Income tax (expense) benefit from continuing operations	584	446	1,210
Net income (loss) from continuing operations	(1,846)	(1,035)	2,759
Less: Net (income) loss from discontinued operations, net of taxes and noncontrolling interest	0	(114)	(85)
Net income (loss)	(1,846)	(921)	2,844
Less: Net income (loss) attributable to the noncontrolling interest	5	(3)	1
Net income (loss) attributable to Equitable Life	$ (1,851)	$ (918)	$ 2,843

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
COMPREHENSIVE INCOME (LOSS)
Net income (loss)	$ (1,846)	$ (921)	$ 2,844
Other comprehensive income (loss) net of income taxes:
Change in unrealized gains (losses), net of reclassification adjustment	2,081	(1,230)	584
Changes in defined benefit plan related items not yet recognized in periodic benefit cost, net of reclassification adjustment	2	(4)	(5)
Other comprehensive income (loss) from discontinued operations	0	0	23
Total other comprehensive income (loss), net of income taxes	2,083	(1,234)	602
Comprehensive income (loss) attributable to Equitable Life	$ 237	$ (2,155)	$ 3,446

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Millions	Total	Parent	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated other comprehensive income (loss) attributable to AXA Equitable	Noncontrolling Interest	Continuing OperationsNoncontrolling Interest	Discontinued OperationsNoncontrolling Interest
Beginning balance at Dec. 31, 2016	$ 14,528	$ 11,432	$ 2	$ 5,339	$ 6,095	$ (4)	$ 3,096	$ 0	$ 3,096
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Capital contribution from parent company	1,500	1,500		1,500
Reclassification of net earnings (loss) attributable to redeemable noncontrolling interests	1						1	1
Consolidation of real estate joint ventures	19						19	19
Repurchase of AB Holding units	(158)						(158)		(158)
Dividends paid to noncontrolling interest	(457)						(457)		(457)
Net income (loss)	3,327	2,843			2,843		484	(1)	485
Other comprehensive income (loss)	602	602				602
Other	130	20		20			110		110
Ending balance at Dec. 31, 2017	19,492	16,397	2	6,859	8,938	598	3,095	19	3,076
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Transfer for Deferred tax asset in GMxB Unwind	1,209	1,209		1,209
Settlement of intercompany payables in GMxB Unwind	(297)	(297)		(297)
Distribution of disposed subsidiary	(1,175)	(1,175)			(1,175)
Transfer of accumulated other comprehensive income to discontinued operations	62	62				62
Reclassification of net earnings (loss) attributable to redeemable noncontrolling interests	(2)						(2)	(2)
De-consolidation of real estate joint ventures	(8)						(8)	(8)
Dividend to parent company	(1,672)	(1,672)			(1,672)
Transfer of AB Holding Units	(3,076)								(3,076)
Net income (loss)	(915)	(918)			(918)		3	3
Other comprehensive income (loss)	(1,234)	(1,234)				(1,234)
Other	36	36		36
Ending balance at Dec. 31, 2018	12,428	12,416	2	7,807	5,098	(491)	12	12	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividend to parent company	(1,005)	(1,005)			(1,005)
Transfer of AB Holding Units	(1,700)
Net income (loss)	(1,851)	(1,851)			(1,851)
Other comprehensive income (loss)	2,083	2,083				2,083
Other	3	2		2			1	1
Ending balance at Dec. 31, 2019	$ 11,658	$ 11,645	$ 2	$ 7,809	$ 2,242	$ 1,592	$ 13	$ 13	$ 0

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Statement of Cash Flows [Abstract]
Net income (loss)	[1]	$ (1,846)	$ (358)	$ 3,377
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Interest credited to policyholders’ account balances		1,127	1,002	921
Policy charges and fee income		(3,450)	(3,523)	(3,294)
Net derivative (gains) losses		3,820	1,010	(870)
Investment (gains) losses, net		(206)	(3)	125
Realized and unrealized (gains) losses on trading securities		(429)	221	(166)
Non-cash long-term incentive compensation expense		3	218	185
Amortization of deferred cost of reinsurance asset		(7)	1,882	(84)
Amortization and depreciation		323	340	825
Cash received on the recapture of captive reinsurance		0	1,273	0
Equity (income) loss from limited partnerships		(73)	(120)	(157)
Changes in:
Net broker-dealer and customer related receivables/payables		4	838	(278)
Reinsurance recoverable		(183)	(390)	(1,018)
Segregated cash and securities, net		0	(345)	130
Capitalization of deferred policy acquisition costs		(648)	(597)	(578)
Future policy benefits		1,115	(284)	1,189
Current and deferred income taxes		(334)	(556)	(1,174)
Other, net		178	810	486
Net cash provided by (used in) operating activities		(606)	1,418	(381)
Proceeds from the sale/maturity/prepayment of:
Fixed maturities, available-for-sale		12,450	8,935	9,738
Mortgage loans on real estate		952	768	934
Trading account securities		10,209	9,298	9,125
Real estate joint ventures		5	139	0
Short-term investments		2,548	2,315	2,204
Other		253	190	228
Payment for the purchase/origination of:
Fixed maturities, available-for-sale		(28,537)	(11,110)	(12,465)
Mortgage loans on real estate		(1,240)	(1,642)	(2,108)
Trading account securities		(1,067)	(11,404)	(12,667)
Short-term investments		(2,762)	(1,852)	(2,456)
Other		(408)	(170)	(280)
Cash settlements related to derivative instruments		(961)	805	(1,259)
Repayments of loans to affiliates		300	900	0
Investment in capitalized software, leasehold improvements and EDP equipment		(65)	(115)	(100)
Purchase of business, net of cash acquired		0	0	(130)
Issuance of loans to affiliates		(900)	(1,100)	0
Cash disposed due to distribution of disposed subsidiary		0	(672)	0
Other, net		(55)	(91)	322
Net cash provided by (used in) investing activities		(9,278)	(4,806)	(8,914)
Cash flows from financing activities:
Deposits		12,283	9,365	9,334
Withdrawals		(4,641)	(4,496)	(3,926)
Transfer (to) from Separate Accounts		1,869	1,809	1,566
Proceeds from loans from affiliates		0	572	0
Change in short-term financings		0	(26)	53
Change in collateralized pledged assets		(69)	1	710
Change in collateralized pledged liabilities		1,359	(291)	1,108
(Decrease) increase in overdrafts payable		0	3	63
Repayment of loans from affiliates		(572)	0	0
Shareholder dividends paid		(1,005)	(1,672)	0
Repurchase of AB Holding Units		0	(267)	(220)
Purchases (redemptions) of noncontrolling interests of consolidated company-sponsored investment funds		19	(472)	120
Distribution to noncontrolling interest of consolidated subsidiaries		0	(610)	(457)
Increase (decrease) in securities sold under agreement to repurchase		(573)	(1,314)	(109)
Capital contribution from parent company		0	0	1,500
Other, net		84	11	(10)
Net cash provided by (used in) financing activities		8,754	2,613	9,732
Effect of exchange rate changes on cash and cash equivalents		0	(12)	22
Change in cash and cash equivalents		(1,130)	(787)	459
Cash and cash equivalents, beginning of year		2,622	3,409	2,950
Cash and cash equivalents, end of year		1,492	2,622	3,409
Cash and cash equivalents of disposed subsidiary:
Beginning of year		0	1,009	1,006
End of year		0	0	1,009
Cash and cash equivalents of continuing operations
Beginning of year		2,622	2,400	1,944
End of year		1,492	2,622	2,400
Supplemental cash flow information:
Interest paid		(4)	0	(8)
Income taxes (refunded) paid		(252)	(8)	(33)
Cash flows of disposed subsidiary:
Net cash provided by (used in) operating activities		0	1,137	715
Net cash provided by (used in) investing activities		0	(102)	(297)
Net cash provided by (used in) financing activities		0	(1,360)	(437)
Effect of exchange rate changes on cash and cash equivalents		0	(12)	22
Non-cash transactions:
(Settlement) issuance of long-term debt		0	(202)	202
Transfer of assets to reinsurer		0	(604)	0
Repayments of loans from affiliates		0	300	0
Disposal of subsidiary
Assets disposed		0	9,156	0
Liabilities disposed		0	4,914	0
Net assets disposed		0	4,242	0
Cash disposed		0	672	0
Net non-cash disposed		$ 0	$ 3,570	$ 0
[1]	Net income (loss) includes $0, $564 million and $533 million in 2019, 2018 and 2017, respectively, of the discontinued operations that are not included in Net income (loss) in the Consolidated Statements of Income (Loss).

CONSOLIDATED STATEMENTS OF CA_2

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Net (income) loss attributable to the noncontrolling interest	$ 5	$ (3)	$ 1
Discontinued Operations
Net (income) loss attributable to the noncontrolling interest	$ 0	$ 564	$ 533

ORGANIZATION

ORGANIZATION	12 Months Ended
	Dec. 31, 2019
Organization [Abstract]
Organization	ORGANIZATION Consolidation AXA Equitable Life Insurance Company’s (“Equitable Life” and, collectively with its consolidated subsidiaries, the “Company”) primary business is providing variable annuity, life insurance and employee benefit products to both individuals and businesses. The Company is an indirect, wholly-owned subsidiary of Equitable Holdings, Inc. (“Holdings”). Prior to the closing of the initial public offering of shares of Holdings’ common stock on May 14, 2018 (the “IPO”), Holdings was a wholly-owned subsidiary of AXA S.A. (“AXA”), a French holding company for the AXA Group, a worldwide leader in life, property and casualty, and health insurance and asset management. As of December 31, 2019 , AXA owns less than 10% of the outstanding common stock of Holdings. In March 2018, AXA contributed its 0.5% minority interest in AXA Financial, Inc. (“AXA Financial”) to Holdings, increasing Holdings’ ownership of AXA Financial to 100% . On October 1, 2018, AXA Financial merged with and into its direct parent, Holdings, with Holdings continuing as the surviving entity (the “AXA Financial Merger”). As a result of the AXA Financial Merger, Holdings assumed all of AXA Financial’s liabilities, including two assumption agreements under which it legally assumed primary liability for certain employee benefit plans of Equitable Life and various guarantees for its subsidiaries. Discontinued Operations In the fourth quarter of 2018, the Company transferred its economic interest in the business of AllianceBernstein Holding L.P. (“AB Holding”), AllianceBernstein L.P. (“ABLP”) AllianceBernstein Corporation and their subsidiaries (collectively, “AB”) to a newly created wholly-owned subsidiary of Holdings (the “AB Business Transfer”). The results of AB are reflected in the Company’s consolidated financial statements as a discontinued operation and, therefore, are presented as Assets of disposed subsidiary, Liabilities of disposed subsidiary on the consolidated balance sheets and Net income (loss) from discontinued operations, net of taxes, on the consolidated statements of income (loss). Intercompany transactions between the Company and AB prior to the AB Business Transfer have been eliminated. Ongoing service transactions will be reported as related party transactions going forward. See Note 19 for information on discontinued operations and transactions with AB. As a result of the AB Business Transfer, we have reassessed the Company's segment structure and concluded that the Company operates as a single reportable segment as information on a more segmented basis is not evaluated by the Chief Operating Decision Maker and as such there is only a single reporting segment.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Significant Accounting Policies	SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Principles of Consolidation The preparation of the accompanying consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires management to make estimates and assumptions (including normal, recurring accruals) that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from these estimates. The accompanying consolidated financial statements present the consolidated results of operations, financial condition and cash flows of the Company and its subsidiaries and those investment companies, partnerships and joint ventures in which the Company has control and a majority economic interest as well as those variable interest entities (“VIEs”) that meet the requirements for consolidation. Financial results in the historical consolidated financial statements may not be indicative of the results of operations, comprehensive income (loss), financial position, equity or cash flows that would have been achieved had we operated as a separate, standalone entity during the reporting periods presented. We believe that the consolidated financial statements include all adjustments necessary for a fair presentation of the results of operations of the Company. All significant intercompany transactions and balances have been eliminated in consolidation. The years “ 2019 ”, “ 2018 ” and “ 2017 ” refer to the years ended December 31, 2019 , 2018 and 2017 , respectively. Adoption of New Accounting Pronouncements Description Effect on the Financial Statement or Other Significant Matters ASU 2016-02: Leases (Topic 842) This ASU contains revised guidance to lease accounting that requires lessees to recognize on the balance sheet a “right-of-use” asset and a lease liability for virtually all lease arrangements, including those embedded in other contracts. Lessor accounting remains substantially unchanged from the current model but has been updated to align with certain changes made to the lessee model. On January 1, 2019, the Company adopted the new leases standard using the simplified modified retrospective transition method, as of the adoption date. Prior comparable periods were not adjusted or presented under this method. We applied several practical expedients offered by ASC 842 upon adoption of this standard. These included continuing to account for existing leases based on judgment made under legacy U.S. GAAP as it relates to determining classification of leases, unamortized initial direct costs and whether contracts are leases or contain leases. We also used the practical expedient to use hindsight in determining lease terms (using knowledge and expectations as of the standard’s adoption date instead of the previous assumptions under legacy U.S. GAAP) and evaluated impairment of our right-of-use (“RoU”) assets in the transition period (using most up-to-date information.) Adoption of this standard resulted in the recognition, as of January 1, 2019, of additional RoU operating lease assets of $347 million reported in Other assets and operating lease liabilities of $439 million reported in Other liabilities in accompanying consolidated balance sheets. The operating RoU assets recognized as of January 1, 2019 are net of deferred rent of $58 million and liabilities associated with previously recognized impairments of $34 million. See Note 10 for additional information. ASU 2017-08: Receivables—Nonrefundable Fees and Other Costs (Subtopic 310-20) This ASU requires certain premiums on callable debt securities to be amortized to the earliest call date and is intended to better align interest income recognition with the manner in which market participants price these instruments. On January 1, 2019, the Company adopted the new guidance on accounting for certain premiums on callable debt securities. As the Company’s existing accounting practices aligned with the guidance in the ASU, adoption of the new standard did not have a material impact on the Company’s consolidated financial statements. ASU 2017-12: Derivatives and Hedging (Topic 815), as clarified and amended by ASU 2019-04: Codification Improvements to Topic 326, Financial Instruments—Credit Losses; Topic 815, Derivatives and Hedging; and Topic 825, Financial Instruments The amendments in these ASUs better align an entity’s risk management activities and financial reporting for hedging relationships through changes to both the designation and measurement guidance for qualifying hedging relationships and the presentation of hedge results. On January 1, 2019, the Company adopted the new hedging guidance. Adoption of this guidance did not have a material impact on the Company’s consolidated financial statements. Future Adoption of New Accounting Pronouncements Description Effective Date and Method of Adoption Effect on the Financial Statement or Other Significant Matters ASU 2016-13: Financial Instruments—Credit Losses (Topic 326), as clarified and amended by ASU 2018-19: Codification Improvements to Topic 326, Financial Instruments—Credit Losses, ASU 2019-04: Codification Improvements to Topic 326, Financial Instruments—Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments and ASU 2019-05: Financial Instruments—Credit Losses (Topic 326) Targeted Transition Relief, ASU 2019-11 : Codification Improvements to Topic 326, Financial Instruments-Credit Losses ASU 2016-13 contains new guidance which introduces an approach based on expected losses to estimate credit losses on certain types of financial instruments. It also modifies the impairment model for available-for-sale debt securities and provides for a simplified accounting model for purchased financial assets with credit deterioration since their origination. ASU 2018-19, ASU 2019-04 and ASU 2019-11, clarified the codification guidance and did not materially change the standard. Effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. These amendments should be applied through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. The Company will implement its updated expected credit loss models, processes and controls related to the identified financial assets that fall within the scope of the new standard as of the date of adoption, January 1, 2020. Management currently anticipates that the standard will have the most impact to its commercial and agricultural mortgage loan portfolios. Based on current economic conditions, the structure and size of the Company’s loan portfolio and other assets impacted by the standard as of December 31, 2019, the Company expects application of the current expected credit loss requirements will result in an immaterial reduction to retained earnings as of the date of adoption. Description Effective Date and Method of Adoption Effect on the Financial Statement or Other Significant Matters ASU 2018-12: Financial Services - Insurance (Topic 944); ASU 2019-09: Financial Services - Insurance (Topic 944): Effective Date This ASU provides targeted improvements to existing recognition, measurement, presentation, and disclosure requirements for long-duration contracts issued by an insurance entity. The ASU primarily impacts four key areas, including: Measurement of the liability for future policy benefits for traditional and limited payment contracts. The ASU requires companies to review, and if necessary, update, cash flow assumptions at least annually for non-participating traditional and limited-payment insurance contracts. Interest rates used to discount the liability will need to be updated quarterly using an upper medium grade (low credit risk) fixed-income instrument yield. Measurement of market risk benefits (“MRBs”). MRBs, as defined under the ASU, will encompass certain GMxB features associated with variable annuity products and other general account annuities with other than nominal market risk. The ASU requires MRBs to be measured at fair value with changes in value attributable to changes in instrument-specific credit risk recognized in OCI. Amortization of deferred policy acquisition costs. The ASU simplifies the amortization of deferred policy acquisition costs and other balances amortized in proportion to premiums, gross profits, or gross margins, requiring such balances to be amortized on a constant level basis over the expected term of the contracts. Deferred costs will be required to be written off for unexpected contract terminations but will not be subject to impairment testing. Expanded footnote disclosures. The ASU requires additional disclosures including disaggregated rollforwards of beginning to ending balances of the liability for future policy benefits, policyholder account balances, MRBs, Separate Account liabilities and deferred policy acquisition costs. Companies will also be required to disclose information about significant inputs, judgements, assumptions and methods used in measurement. In November 2019, ASU 2019-09 was issued which modified ASU 2018-12 to be effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2021. Early adoption is permitted. For the liability for future policyholder benefits for traditional and limited payment contracts, companies can elect one of two adoption methods. Companies can either elect a modified retrospective transition method applied to contracts in force as of the beginning of the earliest period presented on the basis of their existing carrying amounts, adjusted for the removal of any related amounts in AOCI or a full retrospective transition method using actual historical experience information as of contract inception. The same adoption method must be used for deferred policy acquisition costs. For MRBs, the ASU should be applied retrospectively as of the beginning of the earliest period presented. For deferred policy acquisition costs, companies can elect one of two adoption methods. Companies can either elect a modified retrospective transition method applied to contracts in force as of the beginning of the earliest period presented on the basis of their existing carrying amounts, adjusted for the removal of any related amounts in AOCI or a full retrospective transition method using actual historical experience information as of contract inception. The same adoption method must be used for the liability for future policyholder benefits for traditional and limited payment contracts. The Company is currently evaluating the impact that adoption of this guidance will have on the Company’s consolidated financial statements, however the adoption of the ASU is expected to have a significant impact on the Company’s consolidated financial condition, results of operations, cash flows and required disclosures, as well as processes and controls. Description Effective Date and Method of Adoption Effect on the Financial Statement or Other Significant Matters ASU 2018-13: Fair Value Measurement (Topic 820) This ASU improves the effectiveness of fair value disclosures in the notes to financial statements. Amendments in this ASU modify disclosure requirements in Topic 820, including the removal, modification and addition to existing disclosure requirements. Effective for fiscal years beginning after December 15, 2019. Early adoption is permitted, with the option to early adopt amendments to remove or modify disclosures, with full adoption of additional disclosure requirements delayed until the stated effective date. Amendments on changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty should be applied prospectively. All other amendments should be applied retrospectively. The Company elected to early adopt during 2019 the removed disclosures relating to transfers between Level 1 and Level 2 of the fair value hierarchy, the policy for timing of transfers between levels and valuation processes for Level 3 fair value measurements. The Company will delay adoption of the additional disclosures until their effective date on January 1, 2020. ASU 2018-17: Consolidation (Topic 810): Targeted Improvements to Related Party Guidance for Variable Interest Entities This ASU provides guidance requiring that indirect interests held through related parties in common control arrangements be considered on a proportional basis for determining whether fees paid to decision makers and service providers are variable interests. Effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. Early adoption is permitted. All entities are required to apply the amendments in this update retrospectively with a cumulative-effect adjustment to retained earnings at the beginning of the earliest period presented. The Company will adopt this new standard effective for January 1, 2020. Management does not expect the adoption of this standard to materially impact the Company’s financial position or results of operations. ASU 2019-12: Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes This ASU simplifies the accounting for income taxes by removing certain exceptions to the general principles in Topic 740, as well as clarifying and amending existing guidance. Effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. Early adoption is permitted. The Company is currently evaluating the impact adopting the guidance will have on the company’s consolidated financial statements, however the adoption is not expected to materially impact the Company’s financial position, results of operations, or cash flows. Investments The carrying values of fixed maturities classified as available-for-sale (“AFS”) are reported at fair value. Changes in fair value are reported in other comprehensive income (“OCI”). The amortized cost of fixed maturities is adjusted for impairments in value deemed to be other than temporary which are recognized in Investment gains (losses), net. The redeemable preferred stock investments that are reported in fixed maturities include real estate investment trusts (“REIT”), perpetual preferred stock and redeemable preferred stock. These securities may not have a stated maturity, may not be cumulative and do not provide for mandatory redemption by the issuer. The Company determines the fair values of fixed maturities and equity securities based upon quoted prices in active markets, when available, or through the use of alternative approaches when market quotes are not readily accessible or available. These alternative approaches include matrix or model pricing and use of independent pricing services, each supported by reference to principal market trades or other observable market assumptions for similar securities. More specifically, the matrix pricing approach to fair value is a discounted cash flow methodology that incorporates market interest rates commensurate with the credit quality and duration of the investment. The Company’s management, with the assistance of its investment advisors, monitors the investment performance of its portfolio and reviews AFS securities with unrealized losses for other-than-temporary impairments (“OTTI”). Integral to this review is an assessment made each quarter, on a security-by-security basis, by the Company’s Investments Under Surveillance (“IUS”) Committee, of various indicators of credit deterioration to determine whether the investment security is expected to recover. This assessment includes, but is not limited to, consideration of the duration and severity of the unrealized loss, failure, if any, of the issuer of the security to make scheduled payments, actions taken by rating agencies, adverse conditions specifically related to the security or sector, the financial strength, liquidity and continued viability of the issuer. If there is no intent to sell or likely requirement to dispose of the fixed maturity security before its recovery, only the credit loss component of any resulting OTTI is recognized in income (loss) and the remainder of the fair value loss is recognized in OCI. The amount of credit loss is the shortfall of the present value of the cash flows expected to be collected as compared to the amortized cost basis of the security. The present value is calculated by discounting management’s best estimate of projected future cash flows at the effective interest rate implicit in the debt security at the date of acquisition. Projections of future cash flows are based on assumptions regarding probability of default and estimates regarding the amount and timing of recoveries. These assumptions and estimates require use of management judgment and consider internal credit analyses as well as market observable data relevant to the collectability of the security. For mortgage and asset-backed securities, projected future cash flows also include assumptions regarding prepayments and underlying collateral value. Real estate held for the production of income is stated at depreciated cost less valuation allowances. Depreciation of real estate held for production of income is computed using the straight-line method over the estimated useful lives of the properties, which generally range from 40 to 50 years. Policy loans represent funds loaned to policyholders up to the cash surrender value of the associated insurance policies and are carried at the unpaid principal balances due to the Company from the policyholders. Interest income on policy loans is recognized in net investment income at the contract interest rate when earned. Policy loans are fully collateralized by the cash surrender value of the associated insurance policies. Partnerships, investment companies and joint venture interests that the Company has control of and has an economic interest in or those that meet the requirements for consolidation under accounting guidance for consolidation of VIEs are consolidated. Those that the Company does not have control of and does not have a majority economic interest in and those that do not meet the VIE requirements for consolidation are reported on the equity method of accounting and are reported in other equity investments. The Company records its interests in certain of these partnerships on a one month or one-quarter lag. Trading securities, which include equity securities and fixed maturities, are carried at fair value based on quoted market prices, with realized and unrealized gains (losses) reported in net investment income (loss) in the consolidated statements of income (loss). Corporate owned life insurance (“COLI”) has been purchased by the Company and certain subsidiaries on the lives of certain key employees and the Company and these subsidiaries are named as beneficiaries under these policies. COLI is carried at the cash surrender value of the policies. At December 31, 2019 and 2018 , the carrying value of COLI was $942 million and $873 million , respectively, and is reported in Other invested assets in the consolidated balance sheets. Cash and cash equivalents includes cash on hand, demand deposits, money market accounts, overnight commercial paper and highly liquid debt instruments purchased with an original maturity of three months or less. Due to the short-term nature of these investments, the recorded value is deemed to approximate fair value. All securities owned, including U.S. government and agency securities, mortgage-backed securities, futures and forwards transactions, are reported in the consolidated financial statements on a trade-date basis. Derivatives Derivatives are financial instruments whose values are derived from interest rates, foreign exchange rates, financial indices, values of securities or commodities, credit spreads, market volatility, expected returns and liquidity. Values can also be affected by changes in estimates and assumptions, including those related to counterparty behavior and non-performance risk used in valuation models. Derivative financial instruments generally used by the Company include equity, currency, and interest rate futures, total return and/or other equity swaps, interest rate swaps and floors, swaptions, variance swaps and equity options, all of which may be exchange-traded or contracted in the over-the-counter market. All derivative positions are carried in the consolidated balance sheets at fair value, generally by obtaining quoted market prices or through the use of valuation models. Freestanding derivative contracts are reported in the consolidated balance sheets either as assets within Other invested assets or as liabilities within Other liabilities. The Company nets the fair value of all derivative financial instruments with counterparties for which an International Swaps and Derivatives Association Master Agreement (“ISDA Master Agreement”) and related Credit Support Annex (“CSA”) have been executed. The Company uses derivatives to manage asset/liability risk and has designated some of those economic relationships under the criteria to qualify for hedge accounting treatment. All changes in the fair value of the Company’s freestanding derivative positions not designated to hedge accounting relationships, including net receipts and payments, are included in Net derivative gains (losses) without considering changes in the fair value of the economically associated assets or liabilities. The Company is a party to financial instruments and other contracts that contain “embedded” derivative instruments. At inception, the Company assesses whether the economic characteristics of the embedded instrument are “clearly and closely related” to the economic characteristics of the remaining component of the “host contract” and whether a separate instrument with the same terms as the embedded instrument would meet the definition of a derivative instrument. When those criteria are satisfied, the resulting embedded derivative is bifurcated from the host contract, carried in the consolidated balance sheets at fair value, and changes in its fair value are recognized immediately and captioned in the consolidated statements of income (loss) according to the nature of the related host contract. For certain financial instruments that contain an embedded derivative that otherwise would need to be bifurcated and reported at fair value, the Company instead may elect to carry the entire instrument at fair value. Securities Repurchase and Reverse Repurchase Agreements Securities repurchase and reverse repurchase transactions involve the temporary exchange of securities for cash or other collateral of equivalent value, with agreement to redeliver a like quantity of the same or similar securities at a future date prior to maturity at a fixed and determinable price. Transfers of securities under these agreements to repurchase or resell are evaluated by the Company to determine whether they satisfy the criteria for accounting treatment as secured borrowing or lending arrangements. Agreements not meeting the criteria would require recognition of the transferred securities as sales or purchases with related forward repurchase or resale commitments. All of the Company’s securities repurchase transactions are accounted for as collateralized borrowings with the related obligations distinctly captioned in the consolidated balance sheets. Earnings from investing activities related to the cash received under the Company’s securities repurchase arrangements are reported in the consolidated statements of income (loss) as Net investment income and the associated borrowing cost is reported as Interest expense. The Company has not actively engaged in securities reverse repurchase transactions. Commercial and Agricultural Mortgage Loans on Real Estate Mortgage loans are stated at unpaid principal balances, net of unamortized discounts, premiums and valuation allowances. Valuation allowances are based on the present value of expected future cash flows discounted at the loan’s original effective interest rate or on its collateral value if the loan is collateral dependent. However, if foreclosure is or becomes probable, the collateral value measurement method is used. For commercial and agricultural mortgage loans, an allowance for credit loss is typically recommended when management believes it is probable that principal and interest will not be collected according to the contractual terms. Factors that influence management’s judgment in determining allowance for credit losses include the following: • Loan-to-value ratio – Derived from current loan balance divided by the fair market value of the property. An allowance for credit loss is typically recommended when the loan-to-value ratio is in excess of 100% . In the case where the loan-to-value is in excess of 100% , the allowance for credit loss is derived by taking the difference between the fair market value (less cost of sale) and the current loan balance. • Debt service coverage ratio – Derived from actual operating earnings divided by annual debt service. If the ratio is below 1.0 x, then the income from the property does not support the debt. • Occupancy – Criteria varies by property type but low or below market occupancy is an indicator of sub-par property performance. • Lease expirations – The percentage of leases expiring in the upcoming 12 to 36 months are monitored as a decline in rent and/or occupancy may negatively impact the debt service coverage ratio. In the case of single-tenant properties or properties with large tenant exposure, the lease expiration is a material risk factor. • Maturity – Mortgage loans that are not fully amortizing and have upcoming maturities within the next 12 to 24 months are monitored in conjunction with the capital markets to determine the borrower’s ability to refinance the debt and/or pay off the balloon balance. • Borrower/tenant related issues – Financial concerns, potential bankruptcy or words or actions that indicate imminent default or abandonment of property. • Payment status (current vs. delinquent) – A history of delinquent payments may be a cause for concern. • Property condition – Significant deferred maintenance observed during the lenders annual site inspections. • Other – Any other factors such as current economic conditions may call into question the performance of the loan. Mortgage loans also are individually evaluated quarterly by the Company’s IUS Committee for impairment, including an assessment of related collateral value. Commercial mortgages 60 days or more past due and agricultural mortgages 90 days or more past due, as well as all mortgages in the process of foreclosure, are identified as problem mortgages. Based on its monthly monitoring of mortgages, a class of potential problem mortgages are also identified, consisting of mortgage loans not currently classified as problem mortgages but for which management has doubts as to the ability of the borrower to comply with the present loan payment terms and which may result in the loan becoming a problem or being restructured. The decision whether to classify a performing mortgage loan as a potential problem involves significant subjective judgments by management as to likely future industry conditions and developments with respect to the borrower or the individual mortgaged property. For problem mortgage loans, a valuation allowance is established to provide for the risk of credit losses inherent in the lending process. The allowance includes loan specific reserves for mortgage loans determined to be non-performing as a result of the loan review process. A non-performing loan is defined as a loan for which it is probable that amounts due according to the contractual terms of the loan agreement will not be collected. The loan-specific portion of the loss allowance is based on the Company’s assessment as to ultimate collectability of loan principal and interest. Valuation allowances for a non-performing loan are recorded based on the present value of expected future cash flows discounted at the loan’s effective interest rate or based on the fair value of the collateral if the loan is collateral dependent. The valuation allowance for mortgage loans can increase or decrease from period to period based on such factors. Impaired mortgage loans without provision for losses are mortgage loans where the fair value of the collateral or the net present value of the expected future cash flows related to the loan equals or exceeds the recorded investment. Interest income earned on mortgage loans where the collateral value is used to measure impairment is recorded on a cash basis. Interest income on mortgage loans where the present value method is used to measure impairment is accrued on the net carrying value amount of the loan at the interest rate used to discount the cash flows. Changes in the present value attributable to changes in the amount or timing of expected cash flows are reported as Investment gains (losses), net. Mortgage loans are placed on nonaccrual status once management believes the collection of accrued interest is doubtful. Once mortgage loans are classified as nonaccrual mortgage loans, interest income is recognized under the cash basis of accounting and the resumption of the interest accrual would commence only after all past due interest has been collected or the mortgage loan has been restructured to where the collection of interest is considered likely. Net Investment Income (Loss), Investment Gains (Losses), Net and Unrealized Investment Gains (Losses) Realized investment gains (losses) are determined by identification with the specific asset and are presented as a component of revenue. Changes in the valuation allowances are included in Investment gains (losses), net. Realized and unrealized holding gains (losses) on trading and equity securities are reflected in Net investment income (loss). Unrealized investment gains (losses) on fixed maturities designated as AFS held by the Company are accounted for as a separate component of AOCI, net of related deferred income taxes, as are amounts attributable to certain pension operations, Closed Block’s policyholders’ dividend obligation, insurance liability loss recognition, DAC related to UL policies, investment-type products and participating traditional life policies. Changes in unrealized gains (losses) reflect changes in fair value of only those fixed maturities classified as AFS and do not reflect any change in fair value of policyholders’ account balances and future policy benefits. Fair Value of Financial Instruments Fair value is defined as the exchange price that would be received for 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. See Note 7 for additional information regarding determining the fair value of financial instruments. Recognition of Insurance Income and Related Expenses Deposits related to universal life (“UL”) and investment-type contracts are reported as deposits to policyholders’ account balances. Revenues from these contracts consist of fees assessed during the period against policyholders’ account balances for mortality charges, policy administration charges and surrender charges. Policy benefits and claims that are charged to expense include benefit claims incurred in the period in excess of related policyholders’ account balances. Premiums from participating and non-participating traditional life and annuity policies with life contingencies generally are recognized in income when due. Benefits and expenses are matched with such income so as to result in the recognition of profits over the life of the contracts. This match is accomplished by means of the provision for liabilities for future policy benefits and the deferral and subsequent amortization of DAC. For contracts with a single premium or a limited number of premium payments due over a significantly shorter period than the total period over which benefits are provided, premiums are recorded as revenue when due with any excess profit deferred and recognized in income in a constant relationship to insurance in-force or, for annuities, the a

INVESTMENTS

INVESTMENTS	12 Months Ended
	Dec. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Investments	INVESTMENTS Fixed Maturities The following tables provide information relating to fixed maturities classified as available-for-sale (“AFS”). Available-for-Sale Fixed Maturities by Classification Amortized Gross Gross Fair Value OTTI (in millions) December 31, 2019: Fixed Maturities: Corporate (1) $ 42,347 $ 2,178 $ 61 $ 44,464 $ — U.S. Treasury, government and agency 14,385 1,151 305 15,231 — States and political subdivisions 584 68 3 649 — Foreign governments 460 35 5 490 — Residential mortgage-backed (2) 161 12 — 173 — Asset-backed (3) 843 3 2 844 — Redeemable preferred stock 498 18 5 511 — Total at December 31, 2019 $ 59,278 $ 3,465 $ 381 $ 62,362 $ — December 31, 2018: Fixed Maturities: Corporate (1) $ 26,690 $ 385 $ 699 $ 26,376 $ — U.S. Treasury, government and agency 13,646 143 454 13,335 — States and political subdivisions 408 47 1 454 — Foreign governments 515 17 13 519 — Residential mortgage-backed (2) 193 9 — 202 — Asset-backed (3) 600 1 11 590 2 Redeemable preferred stock 440 16 17 439 — Total at December 31, 2018 $ 42,492 $ 618 $ 1,195 $ 41,915 $ 2 ______________ (1) Corporate fixed maturities include both public and private issues. (2) Includes publicly traded agency pass-through securities and collateralized obligations. (3) Includes credit-tranched securities collateralized by sub-prime mortgages and other asset types and credit tenant loans. (4) Amounts represent OTTI losses in AOCI, which were not included in Net income (loss). The contractual maturities of AFS fixed maturities at December 31, 2019 are shown in the table below. Bonds not due at a single maturity date have been included in the table in the final year of maturity. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Contractual Maturities of Available-for-Sale Fixed Maturities Amortized Cost Fair Value (in millions) December 31, 2019: Due in one year or less $ 3,729 $ 3,745 Due in years two through five 13,266 13,663 Due in years six through ten 16,527 17,606 Due after ten years 24,254 25,820 Subtotal 57,776 60,834 Residential mortgage-backed securities 161 173 Asset-backed securities 843 844 Redeemable preferred stock 498 511 Total at December 31, 2019 $ 59,278 $ 62,362 The following table shows proceeds from sales, gross gains (losses) from sales for AFS fixed maturities for the years ended December 31, 2019 , 2018 and 2017 : Proceeds and Gains (Losses) on Sales for Available-for-Sale Fixed Maturities Years Ended December 31, 2019 2018 2017 (in millions) Proceeds from sales $ 8,702 $ 7,136 $ 7,232 Gross gains on sales $ 229 $ 145 $ 98 Gross losses on sales $ (28 ) $ (103 ) $ 211 Total OTTI $ — $ (37 ) $ (13 ) Non-credit losses recognized in OCI — — — Credit losses recognized in net income (loss) $ — $ (37 ) $ (13 ) The following table sets forth the amount of credit loss impairments on AFS fixed maturities held by the Company at the dates indicated and the corresponding changes in such amounts: Available-for-Sale Fixed Maturities - Credit Loss Impairments Years Ended December 31, 2019 2018 (in millions) Balance at January 1, $ (46 ) $ (10 ) Previously recognized impairments on securities that matured, paid, prepaid or sold 31 1 Recognized impairments on securities impaired to fair value this period (1) — — Impairments recognized this period on securities not previously impaired — (37 ) Additional impairments this period on securities previously impaired — — Increases due to passage of time on previously recorded credit losses — — Accretion of previously recognized impairments due to increases in expected cash flows — — Balance at December 31, $ (15 ) $ (46 ) ______________ (1) Represents circumstances where the Company determined in the current period that it intends to sell the security, or it is more likely than not that it will be required to sell the security before recovery of the security’s amortized cost. Net unrealized investment gains (losses) on fixed maturities classified as AFS are included in the consolidated balance sheets as a component of AOCI. Changes in net unrealized investment gains (losses) recognized in AOCI include reclassification adjustments to reflect amounts realized in Net income (loss) for the current period that had been part of OCI in earlier periods. The tables that follow below present a roll-forward of net unrealized investment gains (losses) recognized in AOCI: Net Unrealized Gains (Losses) on Available-for-Sale Fixed Maturities Net Unrealized Gains (Losses) on Investments DAC Policyholders’ Liabilities Deferred Income Tax Asset (Liability) AOCI Gain (Loss) Related to Net Unrealized Investment Gains (Losses) (in millions) Balance, January 1, 2019 $ (577 ) $ 39 $ (55 ) $ 125 $ (468 ) Net investment gains (losses) arising during the period 3,872 — — — 3,872 Reclassification adjustment: Included in Net income (loss) (211 ) — — — (211 ) Excluded from Net income (loss) (1) — — — — — Impact of net unrealized investment gains (losses) on: DAC — (870 ) — — (870 ) Deferred income taxes — — — (558 ) (558 ) Policyholders’ liabilities — — (137 ) — (137 ) Net unrealized investment gains (losses) excluding OTTI losses 3,084 (831 ) (192 ) (433 ) 1,628 Net unrealized investment gains (losses) with OTTI losses — — — — — Balance, December 31, 2019 $ 3,084 $ (831 ) $ (192 ) $ (433 ) $ 1,628 Balance, January 1, 2018 $ 1,526 $ (315 ) $ (232 ) $ (300 ) $ 679 Net investment gains (losses) arising during the period (2,098 ) — — — (2,098 ) Reclassification adjustment: Included in Net income (loss) (5 ) — — — (5 ) Excluded from Net income (loss) (1) — — — — — Impact of net unrealized investment gains (losses) on: DAC — 354 — — 354 Deferred income taxes (2) — — — 425 425 Policyholders’ liabilities — — 177 — 177 Net unrealized investment gains (losses) excluding OTTI losses (577 ) 39 (55 ) 125 (468 ) Net unrealized investment gains (losses) with OTTI losses — — — — — Balance, December 31, 2018 $ (577 ) $ 39 $ (55 ) $ 125 $ (468 ) ______________ (1) Represents “transfers out” related to the portion of OTTI losses during the period that were not recognized in Net income (loss) for securities with no prior OTTI loss. (2) Includes a $86 million income tax benefit from the impact of adoption of ASU 2018-02. The following tables disclose the fair values and gross unrealized losses of the 390 securities at December 31, 2019 and the 1,471 securities at December 31, 2018 that are not deemed to be other-than-temporarily impaired, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position for the specified periods at the dates indicated: Continuous Gross Unrealized Losses for Available-for-Sale Fixed Maturities Less Than 12 Months 12 Months or Longer Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (in millions) December 31, 2019: Fixed Maturities: Corporate $ 2,669 $ 41 $ 366 $ 20 $ 3,035 $ 61 U.S. Treasury, government and agency 4,245 305 2 — 4,247 305 States and political subdivisions 123 3 — — 123 3 Foreign governments 11 — 47 5 58 5 Asset-backed 319 — 201 2 520 2 Redeemable preferred stock 29 — 49 5 78 5 Total $ 7,396 $ 349 $ 665 $ 32 $ 8,061 $ 381 December 31, 2018: Fixed Maturities: Corporate $ 8,369 $ 306 $ 6,161 $ 393 $ 14,530 $ 699 U.S. Treasury, government and agency 2,636 68 3,154 386 5,790 454 States and political subdivisions — — 19 1 19 1 Foreign governments 109 3 76 10 185 13 Residential mortgage-backed — — 13 — 13 — Asset-backed 558 11 6 — 564 11 Redeemable preferred stock 160 12 31 5 191 17 Total $ 11,832 $ 400 $ 9,460 $ 795 $ 21,292 $ 1,195 The Company’s investments in fixed maturities do not include concentrations of credit risk of any single issuer greater than 10% of the consolidated equity of the Company, other than securities of the U.S. government, U.S. government agencies, and certain securities guaranteed by the U.S. government. The Company maintains a diversified portfolio of corporate securities across industries and issuers and does not have exposure to any single issuer in excess of 0.6% of total corporate securities. The largest exposures to a single issuer of corporate securities held at December 31, 2019 and 2018 were $279 million and $210 million , respectively, representing 2.4% and 1.7% of the consolidated equity of the Company. Corporate high yield securities, consisting primarily of public high yield bonds, are classified as other than investment grade by the various rating agencies, i.e., a rating below Baa3/BBB- or the National Association of Insurance Commissioners (“NAIC”) designation of 3 (medium investment grade), 4 or 5 (below investment grade) or 6 (in or near default). At December 31, 2019 and 2018 , respectively, approximately $1.4 billion and $1.2 billion , or 2.3% and 2.9% , of the $59.3 billion and $42.5 billion aggregate amortized cost of fixed maturities held by the Company were considered to be other than investment grade. These securities had gross unrealized losses of $21 million and $30 million at December 31, 2019 and 2018 , respectively. At December 31, 2019 and 2018 , respectively, the $32 million and $795 million of gross unrealized losses of twelve months or more were concentrated in corporate and U.S. Treasury, government and agency securities. In accordance with the policy described in Note 2 , the Company concluded that an adjustment to income for OTTI for these securities was not warranted at either December 31, 2019 or 2018 . At December 31, 2019 , the Company did not intend to sell the securities nor will it likely be required to dispose of the securities before the anticipated recovery of their remaining amortized cost basis. At December 31, 2019 and 2018 , respectively, the fair value of the Company’s trading account securities was $6.6 billion and $15.2 billion . At December 31, 2019 and 2018 , respectively, trading account securities included the General Account’s investment in Separate Accounts, which had carrying values of $58 million and $48 million . Mortgage Loans The payment terms of mortgage loans may from time to time be restructured or modified. At December 31, 2019 and 2018 , the carrying values of problem commercial mortgage loans on real estate that had been classified as non-accrual loans were $0 million and $19 million , respectively. Allowances for credit losses for commercial mortgage loans were $0 million and $7 million for the years ended December 31, 2019 and 2018 , respectively. There were no allowances for credit losses for agricultural mortgage loans in 2019 and 2018 . The following tables provide information relating to the loan-to-value and debt service coverage ratios for commercial and agricultural mortgage loans at December 31, 2019 and 2018 . The values used in these ratio calculations were developed as part of the periodic review of the commercial and agricultural mortgage loan portfolio, which includes an evaluation of the underlying collateral value. Mortgage Loans by Loan-to-Value and Debt Service Coverage Ratios Debt Service Coverage Ratio (1) Loan-to-Value Ratio (2): Greater than 2.0x 1.8x to 2.0x 1.5x to 1.8x 1.2x to 1.5x 1.0x to 1.2x Less than 1.0x Total Mortgage Loans (in millions) December 31, 2019: Commercial Mortgage Loans: 0% - 50% $ 887 $ 38 $ 214 $ 24 $ — $ — $ 1,163 50% - 70% 4,097 1,195 1,118 795 242 — 7,447 70% - 90% 251 98 214 154 46 — 763 90% plus — — — — — — — Total Commercial Mortgage Loans $ 5,235 $ 1,331 $ 1,546 $ 973 $ 288 $ — $ 9,373 Agricultural Mortgage Loans: 0% - 50% $ 322 $ 104 $ 241 $ 545 $ 321 $ 50 $ 1,583 50% - 70% 82 87 236 426 251 33 1,115 70% - 90% — — — 19 — — 19 90% plus — — — — — — — Total Agricultural Mortgage Loans $ 404 $ 191 $ 477 $ 990 $ 572 $ 83 $ 2,717 Total Mortgage Loans: 0% - 50% $ 1,209 $ 142 $ 455 $ 569 $ 321 $ 50 $ 2,746 50% - 70% 4,179 1,282 1,354 1,221 493 33 8,562 70% - 90% 251 98 214 173 46 — 782 90% plus — — — — — — — Total Mortgage Loans $ 5,639 $ 1,522 $ 2,023 $ 1,963 $ 860 $ 83 $ 12,090 December 31, 2018: Commercial Mortgage Loans: 0% - 50% $ 780 $ 21 $ 247 $ 24 $ — $ — $ 1,072 50% - 70% 4,908 656 1,146 325 151 — 7,186 70% - 90% 260 — 117 370 98 — 845 90% plus — — — 27 — — 27 Total Commercial Mortgage Loans $ 5,948 $ 677 $ 1,510 $ 746 $ 249 $ — $ 9,130 Debt Service Coverage Ratio (1) Loan-to-Value Ratio (2): Greater than 2.0x 1.8x to 2.0x 1.5x to 1.8x 1.2x to 1.5x 1.0x to 1.2x Less than 1.0x Total Mortgage Loans (in millions) Agricultural Mortgage Loans: 0% - 50% $ 282 $ 147 $ 267 $ 543 $ 321 $ 51 $ 1,611 50% - 70% 112 46 246 379 224 31 1,038 70% - 90% — — — 19 27 — 46 90% plus — — — — — — — Total Agricultural Mortgage Loans $ 394 $ 193 $ 513 $ 941 $ 572 $ 82 $ 2,695 Total Mortgage Loans: 0% - 50% $ 1,062 $ 168 $ 514 $ 567 $ 321 $ 51 $ 2,683 50% - 70% 5,020 702 1,392 704 375 31 8,224 70% - 90% 260 — 117 389 125 — 891 90% plus — — — 27 — — 27 Total Mortgage Loans $ 6,342 $ 870 $ 2,023 $ 1,687 $ 821 $ 82 $ 11,825 ______________ (1) The debt service coverage ratio is calculated using the most recently reported operating income results from property operations divided by annual debt service. (2) The loan-to-value ratio is derived from current loan balance divided by the fair value of the property. The fair value of the underlying commercial properties is updated annually. The following table provides information relating to the aging analysis of past due mortgage loans at December 31, 2019 and 2018 , respectively: Age Analysis of Past Due Mortgage Loans 30-59 Days 60-89 Days 90 Days or More Total Current Total Financing Receivables Recorded Investment 90 Days or More and Accruing (in millions) December 31, 2019: Commercial $ — $ — $ — $ — $ 9,373 $ 9,373 $ — Agricultural 57 1 66 124 2,593 2,717 66 Total Mortgage Loans $ 57 $ 1 $ 66 $ 124 $ 11,966 $ 12,090 $ 66 December 31, 2018: Commercial $ — $ — $ 27 $ 27 $ 9,103 $ 9,130 $ — Agricultural 18 8 42 68 2,627 2,695 40 Total Mortgage Loans $ 18 $ 8 $ 69 $ 95 $ 11,730 $ 11,825 $ 40 Net Investment Income (Loss) The following table breaks out Net investment income (loss) by asset category: Years Ended December 31 2019 2018 2017 (in millions) Fixed maturities $ 1,902 $ 1,540 $ 1,365 Mortgage loans on real estate 540 494 453 Real estate held for the production of income (2 ) (6 ) 2 Other equity investments 74 123 169 Policy loans 198 201 205 Trading securities 712 128 258 Other investment income 18 69 54 Gross investment income (loss) 3,442 2,549 2,506 Investment expenses (144 ) (71 ) (65 ) Net investment income (loss) $ 3,298 $ 2,478 $ 2,441 Net unrealized and realized gains (losses) on trading account equity securities are included in Net investment income (loss) in the Consolidated Statements of Income (Loss). The table below shows a breakdown of Net investment income (loss) from trading account securities during the years ended December 31, 2019 , 2018 and 2017 : Net Investment Income (Loss) from Trading Securities Years Ended December 31, 2019 2018 2017 (in millions) Net investment gains (losses) recognized during the period on securities held at the end of the period $ 422 $ (174 ) $ 63 Net investment gains (losses) recognized on securities sold during the period 7 (24 ) (19 ) Unrealized and realized gains (losses) on trading securities 429 (198 ) 44 Interest and dividend income from trading securities 283 326 214 Net investment income (loss) from trading securities $ 712 $ 128 $ 258 Investment Gains (Losses), Net Investment gains (losses), net including changes in the valuation allowances and OTTI are as follows: Years Ended December 31, 2019 2018 2017 (in millions) Fixed maturities $ 203 $ 6 $ (130 ) Mortgage loans on real estate (1 ) — 2 Real estate held for the production of income 3 — — Other equity investments — — 3 Other 1 (2 ) — Investment gains (losses), net $ 206 $ 4 $ (125 ) For the years ended December 31, 2019 , 2018 and 2017 , respectively, investment results passed through to certain participating group annuity contracts as Interest credited to policyholders’ account balances totaled $2 million , $3 million and $3 million .

DERIVATIVES

DERIVATIVES	12 Months Ended
	Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVES	DERIVATIVES The Company uses derivatives as part of its overall asset/liability risk management primarily to reduce exposures to equity market and interest rate risks. Derivative hedging strategies are designed to reduce these risks from an economic perspective and are all executed within the framework of a “Derivative Use Plan” approved by applicable states’ insurance law. Derivatives are generally not accounted for using hedge accounting, with the exception of Treasury Inflation-Protected Securities (“TIPS”), which is discussed further below. Operation of these hedging programs is based on models involving numerous estimates and assumptions, including, among others, mortality, lapse, surrender and withdrawal rates, election rates, fund performance, market volatility and interest rates. A wide range of derivative contracts are used in these hedging programs, including exchange traded equity, currency and interest rate futures contracts, total return and/or other equity swaps, interest rate swap and floor contracts, bond and bond-index total return swaps, swaptions, variance swaps and equity options, credit and foreign exchange derivatives, as well as bond and repo transactions to support the hedging. The Company bought interest rate swaptions during the second quarter of 2019 to reduce the impact of unfavorable changes in interest rates. The derivative contracts are collectively managed in an effort to reduce the economic impact of unfavorable changes in guaranteed benefits’ exposures attributable to movements in capital markets. In addition, as part of its hedging strategy, the Company targets an asset level for all variable annuity products at or above a CTE98 level under most economic scenarios (CTE is a statistical measure of tail risk which quantifies the total asset requirement to sustain a loss if an event outside a given probability level has occurred. CTE98 denotes the financial resources a company would need to cover the average of the worst 2% of scenarios.) Derivatives Utilized to Hedge Exposure to Variable Annuities with Guarantee Features The Company has issued and continues to offer variable annuity products with GMxB features. The risk associated with the GMDB feature is that under-performance of the financial markets could result in GMDB benefits, in the event of death, being higher than what accumulated policyholders’ account balances would support. The risk associated with the GMIB feature is that under-performance of the financial markets could result in the present value of GMIB, in the event of annuitization, being higher than what accumulated policyholders’ account balances would support, taking into account the relationship between current annuity purchase rates and the GMIB guaranteed annuity purchase rates. The risk associated with products that have a GMxB derivative features liability is that under-performance of the financial markets could result in the GMxB derivative features’ benefits being higher than what accumulated policyholders’ account balances would support. For GMxB features, the Company retains certain risks including basis, credit spread and some volatility risk and risk associated with actual versus expected actuarial assumptions for mortality, lapse and surrender, withdrawal and policyholder election rates, among other things. The derivative contracts are managed to correlate with changes in the value of the GMxB features that result from financial markets movements. A portion of exposure to realized equity volatility is hedged using equity options and variance swaps and a portion of exposure to credit risk is hedged using total return swaps on fixed income indices. Additionally, the Company is party to total return swaps for which the reference U.S. Treasury securities are contemporaneously purchased from the market and sold to the swap counterparty. As these transactions result in a transfer of control of the U.S. Treasury securities to the swap counterparty, the Company derecognizes these securities with consequent gain or loss from the sale. The Company has also purchased reinsurance contracts to mitigate the risks associated with GMDB features and the impact of potential market fluctuations on future policyholder elections of GMIB features contained in certain annuity contracts issued by the Company. The reinsurance of the GMIB features is accounted for as a derivative. The Company has in place an economic hedge program using interest rate swaps and treasury futures to partially protect the overall profitability of future variable annuity sales against declining interest rates. Derivatives Utilized to Hedge Crediting Rate Exposure on SCS, SIO, MSO and IUL Products/Investment Options The Company hedges crediting rates in the Structured Capital Strategies (“SCS”) variable annuity, Structured Investment Option in the EQUI-VEST variable annuity series (“SIO”), Market Stabilizer Option (“MSO”) in the variable life insurance products and Indexed Universal Life (“IUL”) insurance products. These products permit the contract owner to participate in the performance of an index, ETF or commodity price movement up to a cap for a set period of time. They also contain a protection feature, in which the Company will absorb, up to a certain percentage, the loss of value in an index, ETF or commodity price, which varies by product segment. In order to support the returns associated with these features, the Company enters into derivative contracts whose payouts, in combination with fixed income investments, emulate those of the index, ETF or commodity price, subject to caps and buffers, thereby substantially reducing any exposure to market-related earnings volatility. Derivatives Used to Hedge Equity Market Risks Associated with the General Account’s Seed Money Investments in Retail Mutual Funds The Company’s General Account seed money investments in retail mutual funds expose us to market risk, including equity market risk which is partially hedged through equity-index futures contracts to minimize such risk. Derivatives Used to Hedge Universal Life Products with Secondary Guarantee (“ULSG”) Policy The Company implemented a hedge program using fixed income total return swaps to mitigate the interest rate exposure in ULSG statutory liability. Derivatives Used for General Account Investment Portfolio The Company maintains a strategy in its General Account investment portfolio to replicate the credit exposure of fixed maturity securities otherwise permissible for investment under its investment guidelines through the sale of credit default swaps (“CDSs”). Under the terms of these swaps, the Company receives quarterly fixed premiums that, together with any initial amount paid or received at trade inception, replicate the credit spread otherwise currently obtainable by purchasing the referenced entity’s bonds of similar maturity. These credit derivatives generally have remaining terms of five years or less and are recorded at fair value with changes in fair value, including the yield component that emerges from initial amounts paid or received, reported in Net derivative gains (losses). The Company manages its credit exposure taking into consideration both cash and derivatives based positions and selects the reference entities in its replicated credit exposures in a manner consistent with its selection of fixed maturities. In addition, the Company generally transacts the sale of CDSs in single name reference entities of investment grade credit quality and with counterparties subject to collateral posting requirements. If there is an event of default by the reference entity or other such credit event as defined under the terms of the swap contract, the Company is obligated to perform under the credit derivative and, at the counterparty’s option, either pay the referenced amount of the contract less an auction-determined recovery amount or pay the referenced amount of the contract and receive in return the defaulted or similar security of the reference entity for recovery by sale at the contract settlement auction. To date, there have been no events of default or circumstances indicative of a deterioration in the credit quality of the named referenced entities to require or suggest that the Company will have to perform under these CDSs. The maximum potential amount of future payments the Company could be required to make under these credit derivatives is limited to the par value of the referenced securities which is the dollar or euro-equivalent of the derivative’s notional amount. The Standard North American CDS Contract (“SNAC”) or Standard European Corporate Contract (“STEC”) under which the Company executes these CDS sales transactions does not contain recourse provisions for recovery of amounts paid under the credit derivative. The Company purchased 30-year TIPS and other sovereign bonds, both inflation-linked and non-inflation linked, as General Account investments and enters into asset or cross-currency basis swaps, to result in payment of the given bond’s coupons and principal at maturity in the bond’s specified currency to the swap counterparty in return for fixed dollar amounts. These swaps, when considered in combination with the bonds, together result in a net position that is intended to replicate a dollar-denominated fixed-coupon cash bond with a yield higher than a term-equivalent U.S. Treasury bond. In June 2019 , the Company terminated a program to mitigate its duration gap using total return swaps for which the reference U.S. Treasury securities are sold to the swap counterparty under arrangements economically similar to repurchase agreements. The Company terminated $3.9 billion , in notional, of total return swaps reported in other invested assets in the Company’s balance sheet. The terminated total return swaps had a gain of $121 million . The tables below present quantitative disclosures about the Company’s derivative instruments, including those embedded in other contracts required to be accounted for as derivative instruments: Derivative Instruments by Category At December 31, 2019 Fair Value Gains (Losses) Reported in Net Income (Loss) Year Ended December 31, 2019 Notional Asset Liability (in millions) Freestanding Derivatives (1) (2): Equity contracts: Futures $ 3,510 $ — $ — $ (1,294 ) Swaps 17,064 9 279 (2,405 ) Options 47,766 5,080 1,749 2,211 Interest rate contracts: Swaps 23,700 467 523 2,037 Futures 20,424 — — 139 Swaptions 3,201 16 — (35 ) Credit contracts: Credit default swaps 1,232 18 — 16 Other freestanding contracts: Foreign currency contracts 501 3 — (9 ) Margin — 140 — — Collateral — 72 3,001 — Embedded Derivatives (2): GMIB reinsurance contracts — 2,466 — 500 GMxB derivative features liability (3) — — 8,246 (2,428 ) SCS, SIO, MSO and IUL indexed features (4) — — 3,150 (2,552 ) Total $ 117,398 $ 8,271 $ 16,948 $ (3,820 ) ______________ (1) Reported in Other invested assets in the consolidated balance sheets. (2) Reported in Net derivative gains (losses) in the consolidated statements of income (loss). (3) Reported in Future policy benefits and other policyholders’ liabilities in the consolidated balance sheets. (4) SCS, SIO, MSO and IUL indexed features are reported in Policyholders’ account balances in the consolidated balance sheets. Derivative Instruments by Category At December 31, 2018 Fair Value Gains (Losses) Reported in Net Income (Loss) Year Ended December 31, 2018 Notional Amount Asset Derivatives Liability Derivatives (in millions) Freestanding Derivatives (1) (2): Equity contracts: Futures $ 10,411 $ — $ — $ 550 Swaps 7,697 140 168 675 Options 21,698 2,119 1,163 (899 ) Interest rate contracts: Swaps 27,003 632 194 (456 ) Futures 11,448 — — 118 Credit contracts: Credit default swaps 1,282 17 — (3 ) Other freestanding contracts: Foreign currency contracts 2,097 27 14 6 Margin — 7 5 — Collateral — 3 1,564 — Embedded Derivatives (2): GMIB reinsurance contracts — 1,991 — (1,068 ) GMxB derivative features liability (3) — — 5,431 (786 ) SCS, SIO, MSO and IUL indexed features (4) — — 687 853 Total $ 81,636 $ 4,936 $ 9,226 $ (1,010 ) ______________ (1) Reported in Other invested assets in the consolidated balance sheets. (2) Reported in Net derivative gains (losses) in the consolidated statements of income (loss). (3) Reported in Future policy benefits and other policyholders’ liabilities in the consolidated balance sheets. (4) SCS, SIO, MSO and IUL indexed features are reported in Policyholders’ account balances in the consolidated balance sheets. Equity-Based and Treasury Futures Contracts Margin All outstanding equity-based and treasury futures contracts at December 31, 2019 are exchange-traded and net settled daily in cash. At December 31, 2019 , the Company had open exchange-traded futures positions on: (i) the S&P 500, Russell 2000 and Emerging Market indices, having initial margin requirements of $58 million , (ii) the 2-year, 5-year and 10-year U.S. Treasury Notes on U.S. Treasury bonds and ultra-long bonds, having initial margin requirements of $165 million and (iii) the Euro Stoxx, FTSE 100, Topix, ASX 200 and European, Australasia, and Far East (“EAFE”) indices as well as corresponding currency futures on the Euro/U.S. dollar, Pound/U.S. dollar, Australian dollar/U.S. dollar, and Yen/U.S. dollar, having initial margin requirements of $60 million . Collateral Arrangements The Company generally has executed a CSA under the ISDA Master Agreement it maintains with each of its over-the-counter (“OTC”) derivative counterparties that requires both posting and accepting collateral either in the form of cash or high-quality securities, such as U.S. Treasury securities, U.S. government and government agency securities and investment grade corporate bonds. The Company nets the fair value of all derivative financial instruments with counterparties for which an ISDA Master Agreement and related CSA have been executed. At December 31, 2019 and 2018 , respectively, the Company held $3.0 billion and $1.6 billion in cash and securities collateral delivered by trade counterparties, representing the fair value of the related derivative agreements. The unrestricted cash collateral is reported in Other invested assets. The Company posted collateral of $72 million and $3 million at December 31, 2019 and 2018 , respectively, in the normal operation of its collateral arrangements. Securities Repurchase and Reverse Repurchase Transactions Securities repurchase and reverse repurchase transactions are conducted by the Company under a standardized securities industry master agreement, amended to suit the requirements of each respective counterparty. The Company’s securities repurchase and reverse repurchase agreements are accounted for as secured borrowing or lending arrangements, respectively and are reported in the consolidated balance sheets on a gross basis. At December 31, 2019 and 2018 , the balance outstanding under securities repurchase transactions was $0 million and $573 million , respectively. The Company utilized these repurchase and reverse repurchase agreements for asset liability and cash management purposes. For other instruments used for asset liability management purposes, see “Obligations under Funding Agreements” in Note 17 , Commitments and Contingent Liabilities. The following table presents information about the Company’s offsetting of financial assets and liabilities and derivative instruments at December 31, 2019 : Offsetting of Financial Assets and Liabilities and Derivative Instruments At December 31, 2019 Gross Amount Recognized Gross Amount Offset in the Balance Sheets Net Amount Presented in the Balance Sheets Gross Amount not Offset in the Balance Sheets (1) Net Amount (in millions) Assets: Total derivatives $ 5,804 $ 5,429 $ 375 $ (77 ) $ 298 Other financial instruments 1,754 — 1,754 — 1,754 Other invested assets $ 7,558 $ 5,429 $ 2,129 $ (77 ) $ 2,052 Liabilities: Total derivatives $ 5,474 $ 5,429 $ 45 $ — $ 45 Other financial liabilities 1,723 — 1,723 — 1,723 Other liabilities $ 7,197 $ 5,429 $ 1,768 $ — $ 1,768 ______________ (1) Includes primarily financial instrument sent (held). The Company had no Securities sold under agreement to repurc hase at December 31, 2019 . The following table presents information about the Company’s offsetting of financial assets and liabilities and derivative instruments at December 31, 2018 . Offsetting of Financial Assets and Liabilities and Derivative Instruments At December 31, 2018 Gross Amount Recognized Gross Amount Offset in the Balance Sheets Net Amount Presented in the Balance Sheets Gross Amount not Offset in the Balance Sheets (4) Net Amount (in millions) Assets: Total derivatives $ 2,946 $ 2,912 $ 34 $ — $ 34 Other financial instruments 1,520 — 1,520 — 1,520 Other invested assets $ 4,466 $ 2,912 $ 1,554 $ — $ 1,554 Liabilities: Total derivatives $ 3,109 $ 2,912 $ 197 $ — $ 197 Other financial liabilities 1,263 — 1,263 — 1,263 Other liabilities $ 4,372 $ 2,912 $ 1,460 $ — $ 1,460 Securities sold under agreement to repurchase (1) (2) (3) $ 571 $ — $ 571 $ (588 ) $ (17 ) ______________ (1) Excludes expense of $2 million in Securities sold under agreement to repurchase on the consolidated balance sheets. (2) U.S. Treasury and agency securities are in Fixed maturities available-for-sale on the consolidated balance sheets. (3) Cash is included in Cash and cash equivalents on consolidated balance sheets. (4) Includes primarily financial instrument sent (held). The following table presents information about repurchase agreements accounted for as secured borrowings in the consolidated balance sheets at December 31, 2018 : Repurchase Agreement Accounted for as Secured Borrowings At December 31, 2018 Remaining Contractual Maturity of the Agreements Overnight and Continuous Up to 30 days 30-90 days Greater Than 90 days Total (in millions) Securities sold under agreement to repurchase (1) U.S. Treasury and agency securities $ — $ 571 $ — $ — $ 571 Total $ — $ 571 $ — $ — $ 571 ______________ (1) Excludes expense of $2 million in Securities sold under agreement to repurchase on the consolidated balance sheets.

CLOSED BLOCK

CLOSED BLOCK	12 Months Ended
	Dec. 31, 2019
Closed Block Disclosure [Abstract]
Closed Block	CLOSED BLOCK As a result of demutualization, the Company’s Closed Block was established in 1992 for the benefit of certain individual participating policies that were in force on that date. Assets, liabilities and earnings of the Closed Block are specifically identified to support its participating policyholders. Assets allocated to the Closed Block inure solely to the benefit of the Closed Block policyholders and will not revert to the benefit of the Company. No reallocation, transfer, borrowing or lending of assets can be made between the Closed Block and other portions of the Company’s General Account, any of its Separate Accounts or any affiliate of the Company without the approval of the New York State Department of Financial Services (the “NYDFS”). Closed Block assets and liabilities are carried on the same basis as similar assets and liabilities held in the General Account. The excess of Closed Block liabilities over Closed Block assets (adjusted to exclude the impact of related amounts in AOCI) represents the expected maximum future post-tax earnings from the Closed Block that would be recognized in income from continuing operations over the period the policies and contracts in the Closed Block remain in force. As of January 1, 2001, the Company has developed an actuarial calculation of the expected timing of the Closed Block’s earnings. If the actual cumulative earnings from the Closed Block are greater than the expected cumulative earnings, only the expected earnings will be recognized in net income. Actual cumulative earnings in excess of expected cumulative earnings at any point in time are recorded as a policyholder dividend obligation because they will ultimately be paid to Closed Block policyholders as an additional policyholder dividend unless offset by future performance that is less favorable than originally expected. If a policyholder dividend obligation has been previously established and the actual Closed Block earnings in a subsequent period are less than the expected earnings for that period, the policyholder dividend obligation would be reduced (but not below zero). If, over the period the policies and contracts in the Closed Block remain in force, the actual cumulative earnings of the Closed Block are less than the expected cumulative earnings, only actual earnings would be recognized in income from continuing operations. If the Closed Block has insufficient funds to make guaranteed policy benefit payments, such payments will be made from assets outside the Closed Block. Many expenses related to Closed Block operations, including amortization of DAC, are charged to operations outside of the Closed Block; accordingly, net revenues of the Closed Block do not represent the actual profitability of the Closed Block operations. Operating costs and expenses outside of the Closed Block are, therefore, disproportionate to the business outside of the Closed Block. Summarized financial information for the Company’s Closed Block is as follows: December 31, 2019 2018 (in millions) Closed Block Liabilities: Future policy benefits, policyholders’ account balances and other $ 6,478 $ 6,709 Policyholder dividend obligation 2 — Other liabilities 38 47 Total Closed Block liabilities 6,518 6,756 Assets Designated to the Closed Block: Fixed maturities available-for-sale, at fair value (amortized cost of $3,558 and $3,680) 3,754 3,672 Mortgage loans on real estate, net of valuation allowance of $- and $- 1,759 1,824 Policy loans 706 736 Cash and other invested assets 82 76 Other assets 145 179 Total assets designated to the Closed Block 6,446 6,487 Excess of Closed Block liabilities over assets designated to the Closed Block 72 269 Amounts included in Accumulated other comprehensive income (loss): Net unrealized investment gains (losses), net of policyholders’ dividend obligation: $(2) and $0; and net of income tax: $41 and $0 164 8 Maximum future earnings to be recognized from closed block assets and liabilities $ 236 $ 277 The Company’s Closed Block revenues and expenses were as follows: Years ended December 31, 2019 2018 2017 (in millions) Revenues: Premiums and other income $ 182 $ 194 $ 224 Net investment income (loss) 278 291 314 Investment gains (losses), net (1 ) (3 ) (20 ) Total revenues 459 482 518 Benefits and Other Deductions: Policyholders’ benefits and dividends 439 471 537 Other operating costs and expenses 2 3 2 Total benefits and other deductions 441 474 539 Net income (loss), before income taxes 18 8 (21 ) Income tax (expense) benefit (2 ) (3 ) (36 ) Net income (loss) $ 16 $ 5 $ (57 ) A reconciliation of the Company’s policyholder dividend obligation follows: December 31, 2019 2018 2017 (in millions) Balance, beginning of year $ — $ 19 $ 52 Unrealized investment gains (losses) 2 (19 ) (33 ) Balance, end of year $ 2 $ — $ 19

DAC AND POLICYHOLDER BONUS INTE

DAC AND POLICYHOLDER BONUS INTEREST CREDITS	12 Months Ended
	Dec. 31, 2019
Contract holder Bonus Interest Credits [Abstract]
DAC and Policyholder Bonus Interest Credits	DAC AND POLICYHOLDER BONUS INTEREST CREDITS Changes in the deferred policy acquisition cost asset for the years ended December 31, 2019 , 2018 and 2017 were as follows: Years Ended December 31, 2019 2018 2017 (in millions) Balance, beginning of year $ 5,011 $ 4,492 $ 5,025 Capitalization of commissions, sales and issue expenses 648 597 578 Amortization: Impact of assumptions updates and model changes 77 165 (247 ) All other (529 ) (596 ) (653 ) Total amortization (452 ) (431 ) (900 ) Change in unrealized investment gains and losses (870 ) 353 (211 ) Balance, end of year $ 4,337 $ 5,011 $ 4,492 The deferred asset for policyholder bonus interest credits is reported in Other assets in the Consolidated balance sheets and changes in the deferred asset for policyholder bonus interest credits are reported in Interest credited to policyholders’ account balances. For the years ended December 31, 2019 , 2018 and 2017 changes were as follows: Years Ended December 31, 2019 2018 2017 (in millions) Balance, beginning of year $ 426 $ 473 $ 504 Policyholder bonus interest credits deferred — 4 6 Amortization charged to income 5 (51 ) (37 ) Balance, end of year $ 431 $ 426 $ 473

FAIR VALUE DISCLOSURES

FAIR VALUE DISCLOSURES	12 Months Ended
	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Fair Value Disclosures	FAIR VALUE DISCLOSURES The accounting guidance establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value, and identifies three levels of inputs that may be used to measure fair value: Level 1 Unadjusted quoted prices for identical instruments in active markets. Level 1 fair values generally are supported by market transactions that occur with sufficient frequency and volume to provide pricing information on an ongoing basis. Level 2 Observable inputs other than Level 1 prices, such as quoted prices for similar instruments, quoted prices in markets that are not active, and inputs to model-derived valuations that are directly observable or can be corroborated by observable market data. Level 3 Unobservable inputs supported by little or no market activity and often requiring significant management judgment or estimation, such as an entity’s own assumptions about the cash flows or other significant components of value that market participants would use in pricing the asset or liability. The Company uses unadjusted quoted market prices to measure fair value for those instruments that are actively traded in financial markets. In cases where quoted market prices are not available, fair values are measured using present value or other valuation techniques. The fair value determinations are made at a specific point in time, based on available market information and judgments about the financial instrument, including estimates of the timing and amount of expected future cash flows and the credit standing of counterparties. Such adjustments do not reflect any premium or discount that could result from offering for sale at one time the Company’s entire holdings of a particular financial instrument, nor do they consider the tax impact of the realization of unrealized gains or losses. In many cases, the fair value cannot be substantiated by direct comparison to independent markets, nor can the disclosed value be realized in immediate settlement of the instrument. Management is responsible for the determination of the value of investments carried at fair value and the supporting methodologies and assumptions. Under the terms of various service agreements, the Company often utilizes independent valuation service providers to gather, analyze, and interpret market information and derive fair values based upon relevant methodologies and assumptions for individual securities. These independent valuation service providers typically obtain data about market transactions and other key valuation model inputs from multiple sources and, through the use of widely accepted valuation models, provide a single fair value measurement for individual securities for which a fair value has been requested. As further described below with respect to specific asset classes, these inputs include, but are not limited to, market prices for recent trades and transactions in comparable securities, benchmark yields, interest rate yield curves, credit spreads, quoted prices for similar securities, and other market-observable information, as applicable. Specific attributes of the security being valued also are considered, including its term, interest rate, credit rating, industry sector, and when applicable, collateral quality and other security- or issuer-specific information. When insufficient market observable information is available upon which to measure fair value, the Company either will request brokers knowledgeable about these securities to provide a non-binding quote or will employ internal valuation models. Fair values received from independent valuation service providers and brokers and those internally modeled or otherwise estimated are assessed for reasonableness. Assets and liabilities measured at fair value on a recurring basis are summarized below. At December 31, 2019 and December 31, 2018 , no assets were required to be measured at fair value on a non-recurring basis. Fair value measurements are required on a non-recurring basis for certain assets, including goodwill and mortgage loans on real estate, only when an impairment or other event occurs. When such fair value measurements are recorded, they must be classified and disclosed within the fair value hierarchy. Fair Value Measurements at December 31, 2019 Level 1 Level 2 Level 3 Total (in millions) Assets: Investments: Fixed maturities, available-for-sale: Corporate (1) $ — $ 43,218 $ 1,246 $ 44,464 U.S. Treasury, government and agency — 15,231 — 15,231 States and political subdivisions — 610 39 649 Foreign governments — 490 — 490 Residential mortgage-backed (2) — 173 — 173 Asset-backed (3) — 744 100 844 Redeemable preferred stock 237 274 — 511 Total fixed maturities, available-for-sale 237 60,740 1,385 62,362 Other equity investments 13 — — 13 Trading securities 321 6,277 — 6,598 Other invested assets: Short-term investments — 468 — 468 Assets of consolidated VIEs/VOEs — — 16 16 Swaps — (326 ) — (326 ) Credit default swaps — 18 — 18 Options — 3,331 — 3,331 Total other invested assets — 3,491 16 3,507 Cash equivalents 1,155 — — 1,155 GMIB reinsurance contracts asset — — 2,466 2,466 Separate Accounts assets (4) 121,184 2,878 — 124,061 Total Assets $ 122,910 $ 73,386 $ 3,867 $ 200,162 Liabilities: GMxB derivative features’ liability $ — $ — $ 8,246 $ 8,246 SCS, SIO, MSO and IUL indexed features’ liability — 3,150 — 3,150 Total Liabilities $ — $ 3,150 $ 8,246 $ 11,396 ______________ (1) Corporate fixed maturities includes both public and private issues. (2) Includes publicly traded agency pass-through securities and collateralized obligations. (3) Includes credit-tranched securities collateralized by sub-prime mortgages and other asset types and credit tenant loans. (4) Separate Account assets included in the fair value hierarchy exclude investments in entities that calculate NAV per share (or its equivalent) as a practical expedient. Such investments excluded from the fair value hierarchy include investments in real estate and commercial mortgages. At December 31, 2019 the fair value of such investments was $356 million . Fair Value Measurements at December 31, 2018 Level 1 Level 2 Level 3 Total (in millions) Assets: Investments: Fixed maturities, available-for-sale: Corporate (1) $ — $ 25,202 $ 1,174 $ 26,376 U.S. Treasury, government and agency — 13,335 — 13,335 States and political subdivisions — 416 38 454 Foreign governments — 519 — 519 Residential mortgage-backed (2) — 202 — 202 Asset-backed (3) — 71 519 590 Redeemable preferred stock 163 276 — 439 Total fixed maturities, available-for-sale 163 40,021 1,731 41,915 Other equity investments 12 — — 12 Trading securities 218 14,919 29 15,166 Other invested assets: Short-term investments — 412 — 412 Assets of consolidated VIEs/VOEs — — 19 19 Swaps — 423 — 423 Credit default swaps — 17 — 17 Options — 956 — 956 Total other invested assets — 1,808 19 1,827 Cash equivalents 2,160 — — 2,160 GMIB reinsurance contracts asset — — 1,991 1,991 Separate Accounts assets (4) 105,159 2,733 21 107,913 Total Assets $ 107,712 $ 59,481 $ 3,791 $ 170,984 Liabilities: GMxB derivative features’ liability $ — $ — $ 5,431 $ 5,431 SCS, SIO, MSO and IUL indexed features’ liability — 687 — 687 Total Liabilities $ — $ 687 $ 5,431 $ 6,118 ______________ (1) Corporate fixed maturities includes both public and private issues. (2) Includes publicly traded agency pass-through securities and collateralized obligations. (3) Includes credit-tranched securities collateralized by sub-prime mortgages and other asset types and credit tenant loans. (4) Separate Account assets included in the fair value hierarchy exclude investments in entities that calculate NAV per share (or its equivalent) as a practical expedient. Such investments excluded from the fair value hierarchy include investments in real estate and commercial mortgages. At December 31, 2018 the fair value of such investments was $353 million . The fair values of the Company’s public fixed maturities are generally based on prices obtained from independent valuation service providers and for which the Company maintains a vendor hierarchy by asset type based on historical pricing experience and vendor expertise. Although each security generally is priced by multiple independent valuation service providers, the Company ultimately uses the price received from the independent valuation service provider highest in the vendor hierarchy based on the respective asset type, with limited exception. To validate reasonableness, prices also are internally reviewed by those with relevant expertise through comparison with directly observed recent market trades. Consistent with the fair value hierarchy, public fixed maturities validated in this manner generally are reflected within Level 2, as they are primarily based on observable pricing for similar assets and/or other market observable inputs. The fair values of the Company’s private fixed maturities are determined from prices obtained from independent valuation service providers. Prices not obtained from an independent valuation service provider are determined by using a discounted cash flow model or a market comparable company valuation technique. In certain cases, these models use observable inputs with a discount rate based upon the average of spread surveys collected from private market intermediaries who are active in both primary and secondary transactions, taking into account, among other factors, the credit quality and industry sector of the issuer and the reduced liquidity associated with private placements. Generally, these securities have been reflected within Level 2. For certain private fixed maturities, the discounted cash flow model or a market comparable company valuation technique may also incorporate unobservable inputs, which reflect the Company’s own assumptions about the inputs market participants would use in pricing the asset. To the extent management determines that such unobservable inputs are significant to the fair value measurement of a security, a Level 3 classification generally is made. The net fair value of the Company’s freestanding derivative positions as disclosed in Note 4 are generally based on prices obtained either from independent valuation service providers or derived by applying market inputs from recognized vendors into industry standard pricing models. The majority of these derivative contracts are traded in the OTC derivative market and are classified in Level 2. The fair values of derivative assets and liabilities traded in the OTC market are determined using quantitative models that require use of the contractual terms of the derivative instruments and multiple market inputs, including interest rates, prices, and indices to generate continuous yield or pricing curves, including overnight index swap (“OIS”) curves, and volatility factors, which then are applied to value the positions. The predominance of market inputs is actively quoted and can be validated through external sources or reliably interpolated if less observable. Investments classified as Level 1 primarily include redeemable preferred stock, trading securities, cash equivalents and Separate Accounts assets. Fair value measurements classified as Level 1 include exchange-traded prices of fixed maturities, equity securities and derivative contracts, and net asset values for transacting subscriptions and redemptions of mutual fund shares held by Separate Accounts. Cash equivalents classified as Level 1 include money market accounts, overnight commercial paper and highly liquid debt instruments purchased with an original maturity of three months or less and are carried at cost as a proxy for fair value measurement due to their short-term nature. Investments classified as Level 2 are measured at fair value on a recurring basis and primarily include U.S. government and agency securities and certain corporate debt securities, such as public and private fixed maturities. As market quotes generally are not readily available or accessible for these securities, their fair value measures are determined utilizing relevant information generated by market transactions involving comparable securities and often are based on model pricing techniques that effectively discount prospective cash flows to present value using appropriate sector-adjusted credit spreads commensurate with the security’s duration, also taking into consideration issuer-specific credit quality and liquidity. Observable inputs generally used to measure the fair value of securities classified as Level 2 include benchmark yields, reported secondary trades, issuer spreads, benchmark securities and other reference data. Additional observable inputs are used when available, and as may be appropriate, for certain security types, such as prepayment, default, and collateral information for the purpose of measuring the fair value of mortgage- and asset-backed securities. The Company’s AAA-rated mortgage- and asset-backed securities are classified as Level 2 for which the observability of market inputs to their pricing models is supported by sufficient, albeit more recently contracted, market activity in these sectors. Certain Company products, such as the SCS and EQUI-VEST variable annuity products, IUL and the MSO fund available in some life contracts, offer investment options which permit the contract owner to participate in the performance of an index, ETF or commodity price. These investment options, which depending on the product and on the index selected can currently have one, three, five or six year terms, provide for participation in the performance of specified indices, ETF or commodity price movement up to a segment-specific declared maximum rate. Under certain conditions that vary by product, e.g., holding these segments for the full term, these segments also shield policyholders from some or all negative investment performance associated with these indices, ETF or commodity prices. These investment options have defined formulaic liability amounts, and the current values of the option component of these segment reserves are accounted for as Level 2 embedded derivatives. The fair values of these embedded derivatives are based on data obtained from independent valuation service providers. The Company’s investments classified as Level 3 primarily include corporate debt securities, such as private fixed maturities and asset-backed securities. Determinations to classify fair value measures within Level 3 of the valuation hierarchy generally are based upon the significance of the unobservable factors to the overall fair value measurement. Included in the Level 3 classification are fixed maturities with indicative pricing obtained from brokers that otherwise could not be corroborated to market observable data. The Company also issues certain benefits on its variable annuity products that are accounted for as derivatives and are also considered Level 3. The GMIBNLG feature allows the policyholder to receive guaranteed minimum lifetime annuity payments based on predetermined annuity purchase rates applied to the contract’s benefit base if and when the contract account value is depleted and the NLG feature is activated. The GMWB feature allows the policyholder to withdraw at minimum, over the life of the contract, an amount based on the contract’s benefit base. The GWBL feature allows the policyholder to withdraw, each year for the life of the contract, a specified annual percentage of an amount based on the contract’s benefit base. The GMAB feature increases the contract account value at the end of a specified period to a GMAB base. The GIB feature provides a lifetime annuity based on predetermined annuity purchase rates if and when the contract account value is depleted. This lifetime annuity is based on predetermined annuity purchase rates applied to a GIB base. Level 3 also includes the GMIB reinsurance contract assets which are accounted for as derivative contracts. The GMIB reinsurance contract asset and liabilities’ fair value reflects the present value of reinsurance premiums and recoveries and risk margins over a range of market consistent economic scenarios while GMxB derivative features liability reflects the present value of expected future payments (benefits) less fees, adjusted for risk margins and nonperformance risk, attributable to GMxB derivative features’ liability over a range of market-consistent economic scenarios. The valuations of the GMIB reinsurance contract asset and GMxB derivative features liability incorporate significant non-observable assumptions related to policyholder behavior, risk margins and projections of equity Separate Accounts funds. The credit risks of the counterparty and of the Company are considered in determining the fair values of its GMIB reinsurance contract asset and GMxB derivative features liability positions, respectively, after taking into account the effects of collateral arrangements. Incremental adjustment to the swap curve for non-performance risk is made to the fair values of the GMIB reinsurance contract asset and liabilities and GMIBNLG feature to reflect the claims-paying ratings of counterparties and the Company. Equity and fixed income volatilities were modeled to reflect current market volatilities. Due to the unique, long duration of the GMIBNLG feature, adjustments were made to the equity volatilities to remove the illiquidity bias associated with the longer tenors and risk margins were applied to the non-capital markets inputs to the GMIBNLG valuations. After giving consideration to collateral arrangements, the Company reduced the fair value of its GMIB reinsurance contract asset by $175 million and $184 million at December 31, 2019 and 2018 , respectively, to recognize incremental counterparty non-performance risk. Lapse rates are adjusted at the contract level based on a comparison of the actuarially calculated guaranteed values and the current policyholder account value, which include other factors such as considering surrender charges. Generally, lapse rates are assumed to be lower in periods when a surrender charge applies. A dynamic lapse function reduces the base lapse rate when the guaranteed amount is greater than the account value as in the money contracts are less likely to lapse. For valuing the embedded derivative, lapse rates vary throughout the period over which cash flows are projected. The Company’s consolidated VIEs/VOEs hold investments that are classified as Level 3, primarily corporate bonds that are vendor priced with no ratings available, bank loans, non-agency collateralized mortgage obligations and asset-backed securities. In 2019 , AFS fixed maturities with fair values of $540 million w ere transferred out of Level 3 and into Level 2 principally due to the availability of trading activity and/or market observable inputs to measure and validate their fair values. In addition, AFS fixed maturities with fair value of $14 million were transferred from Level 2 into the Level 3 classification. These transfers in the aggregate represent approximately 4.8% of total equity at December 31, 2019 . In 2018 , AFS fixed maturities with fair values of $28 million were transferred out of Level 3 and into Level 2 principally due to the availability of trading activity and/or market observable inputs to measure and validate their fair values. In addition, AFS fixed maturities with fair value of $83 million were transferred from Level 2 into the Level 3 classification. These transfers in the aggregate represent approximately 0.9% of total equity at December 31, 2018 . The tables below present reconciliations for all Level 3 assets and liabilities at December 31, 2019 , 2018 and 2017 , respectively. Level 3 Instruments - Fair Value Measurements Corporate State and Political Subdivisions Commercial Mortgage- backed Asset-backed Redeemable Preferred Stock (in millions) Balance, January 1, 2019 $ 1,174 $ 38 $ — $ 519 $ — Total gains (losses), realized and unrealized, included in: Income (loss) as: Net investment income (loss) 4 — — — — Investment gains (losses), net — — — — — Subtotal 4 — — — — Other comprehensive income (loss) 5 3 — 1 — Purchases 273 — — 100 — Sales (120 ) (2 ) — (84 ) — Transfers into Level 3 (1) 14 — — — — Transfers out of Level 3 (1) (104 ) — — (436 ) — Balance, December 31, 2019 $ 1,246 $ 39 $ — $ 100 $ — Balance, January 1, 2018 $ 1,139 $ 40 $ — $ 8 $ — Total gains (losses), realized and unrealized, included in: Income (loss) as: Net investment income (loss) 7 — — (2 ) — Investment gains (losses), net (8 ) — — — — Subtotal (1 ) — — (2 ) — Other comprehensive income (loss) (20 ) (1 ) — (7 ) — Purchases 322 — — 550 — Sales (321 ) (1 ) — (30 ) — Transfers into Level 3 (1) 83 — — — — Transfers out of Level 3 (1) (28 ) — — — — Balance, December 31, 2018 $ 1,174 $ 38 $ — $ 519 $ — Balance, January 1, 2017 $ 845 $ 42 $ 349 $ 24 $ 1 Total gains (losses), realized and unrealized, included in: Income (loss) as: Net Investment income (loss) 5 — (2 ) — — Investment gains (losses), net 2 — (63 ) 15 — Subtotal 7 — (65 ) 15 — Other comprehensive income (loss) 4 (1 ) 45 (9 ) (1 ) Purchases 612 — — — — Sales (331 ) (1 ) (329 ) (21 ) — Transfers into Level 3 (1) 7 — — — — Transfers out of Level 3 (1) (5 ) — — (1 ) — Balance, December 31, 2017 $ 1,139 $ 40 $ — $ 8 $ — ______________ (1) Transfers into/out of the Level 3 classification are reflected at beginning-of-period fair values. Other Equity Investments GMIB Reinsurance Contract Asset Separate Account Assets GMxB Derivative Features Liability (in millions) Balance, January 1, 2019 $ 48 $ 1,991 $ 21 $ (5,431 ) Total gains (losses), realized and unrealized, included in: Income (loss) as: Investment gains (losses), net — — — — Net derivative gains (losses), excluding non-performance risk — 458 — (3,220 ) Non-performance risk (1) — 42 — 792 Subtotal — 500 — (2,428 ) Purchases (2) — 47 — (416 ) Sales (3) — (72 ) (1 ) 29 Settlements — — (2 ) — Activity related to consolidated VIEs/VOEs (3 ) — — — Transfers into Level 3 (4) — — — — Transfers out of Level 3 (4) (29 ) — (18 ) — Balance, December 31, 2019 $ 16 $ 2,466 $ — $ (8,246 ) Balance, January 1, 2018 $ 25 $ 10,488 $ 22 $ (4,256 ) Total gains (losses), realized and unrealized, included in: Income (loss) as: Investment gains (losses), net — — — — Net derivative gains (losses), excluding non-performance risk — (972 ) — (296 ) Non-performance risk (1) — (96 ) — (490 ) Subtotal — (1,068 ) — (786 ) Purchases (2) 29 96 5 (403 ) Sales (3) — (62 ) (1 ) 14 Settlements — (7,463 ) (5 ) — Activity related to consolidated VIEs/VOEs (6 ) — — — Transfers into Level 3 (4) 5 — — — Transfers out of Level 3 (4) (5 ) — — — Balance, December 31, 2018 $ 48 $ 1,991 $ 21 $ (5,431 ) Balance, January 1, 2017 $ 40 $ 10,313 $ 17 $ (5,473 ) Total gains (losses), realized and unrealized, included in: Income (loss) as: Investment gains (losses), net — — (1 ) — Net derivative gains (losses), excluding non-performance risk — (6 ) — 1,443 Non-performance risk (1) — 75 — 149 Subtotal — 69 (1 ) 1,592 Purchases (2) — 221 12 (381 ) Sales (3) — (115 ) (2 ) 6 Settlements — — (4 ) — Activity related to consolidated VIEs/VOEs (15 ) — — — Transfers into Level 3 (4) — — — — Transfers out of Level 3 (4) — — — — Balance, December 31, 2017 $ 25 $ 10,488 $ 22 $ (4,256 ) ______________ (1) The Company’s non-performance risk is recorded through Net derivative gains (losses). (2) For the GMIB reinsurance contract asset and GMxB derivative features liability, represents attributed fee. (3) For the GMIB reinsurance contract asset, represents recoveries from reinsurers and for GMxB derivative features liability represents benefits paid. (4) Transfers into/out of the Level 3 classification are reflected at beginning-of-period fair values. The table below details changes in unrealized gains (losses) for 2019 , 2018 and 2017 by category for Level 3 assets and liabilities still held at December 31, 2019 , 2018 and 2017 , respectively. Change in Unrealized Gains (Losses) for Level 3 Instruments Net Earnings (Loss) Net Derivative Gains (Losses) OCI (in millions) Held at December 31, 2019: Change in unrealized gains (losses): Fixed maturities, available-for-sale: Corporate $ — $ 3 State and political subdivisions — 3 Commercial mortgage-backed — — Asset-backed — — Subtotal — 6 GMIB reinsurance contracts 500 — GMxB derivative features liability (2,428 ) — Total $ (1,928 ) $ 6 Held at December 31, 2018: Change in unrealized gains (losses): Fixed maturities, available-for-sale: Corporate $ — $ (18 ) State and political subdivisions — (1 ) Asset-backed — (7 ) Subtotal — (26 ) GMIB reinsurance contracts (1,068 ) — GMxB derivative features liability (786 ) — Total $ (1,854 ) $ (26 ) Held at December 31, 2017: Change in unrealized gains (losses): Fixed maturities, available-for-sale: Corporate $ — $ 4 Commercial mortgage-backed — 45 Asset-backed — (9 ) Subtotal — 40 GMIB reinsurance contracts 69 — GMxB derivative features liability 1,592 — Total $ 1,661 $ 40 The following tables disclose quantitative information about Level 3 fair value measurements by category for assets and liabilities at December 31, 2019 and 2018 , respectively. Quantitative Information about Level 3 Fair Value Measurements at December 31, 2019 Fair Value Valuation Technique Significant Unobservable Input Range Weighted Average (in millions) Assets: Investments: Fixed maturities, available-for-sale: Corporate $ 51 Matrix pricing Spread over Benchmark 65 - 580 bps 186 bps 1,025 Market EBITDA multiples 3.3x - 56.7x 14.3x GMIB reinsurance contract asset 2,466 Discounted cash flow Non-performance risk 55 - 109 bps Liabilities: GMIBNLG 8,128 Discounted cash flow Non-performance risk 124 bps GWBL/GMWB 109 Discounted cash flow Non-performance risk 124 bps GIB 5 Discounted cash flow Non-performance risk 124 bps GMAB 4 Discounted cash flow Lapse rates 1.0% - 10.0% ______________ (1) Mortality rates vary by age and demographic characteristic such as gender. Mortality rate assumptions are based on a combination of company and industry experience. A mortality improvement assumption is also applied. For any given contract, mortality rates vary throughout the period over which cash flows are projected for purposes of valuating the embedded derivatives. Quantitative Information about Level 3 Fair Value Measurements at December 31, 2018 Fair Value Valuation Technique Significant Unobservable Input Range Weighted Average (in millions) Assets: Investments: Fixed maturities, available-for-sale: Corporate $ 93 Matrix pricing model Spread over benchmark 15 - 580 bps 104 bps 881 Market comparable companies EBITDA multiples 4.1x - 37.8x 12.1x GMIB reinsurance contract asset 1,991 Discounted cash flow Non-performance risk 74 - 159 bps Liabilities: GMIBNLG 5,341 Discounted cash flow Non-performance risk 189 bps GWBL/GMWB 130 Discounted cash flow Non-performance risk 189 bps GIB (48 ) Discounted cash flow Non-performance risk 189 bps GMAB 7 Discounted cash flow Lapse rates 1.0% - 5.7% ______________ (1) Mortality rates vary by age and demographic characteristic such as gender. Mortality rate assumptions are based on a combination of company and industry experience. A mortality improvement assumption is also applied. For any given contract, mortality rates vary throughout the period over which cash flows are projected for purposes of valuating the embedded derivatives. Excluded from the tables above at December 31, 2019 and 2018 , respectively, are approximately $325 million and $826 million of Level 3 fair value measurements of investments for which the underlying quantitative inputs are not developed by the Company and are not readily available. These investments primarily consist of certain privately placed debt securities with limited trading activity, including residential mortgage- and asset-backed instruments, and their fair values generally reflect unadjusted prices obtained from independent valuation service providers and indicative, non-binding quotes obtained from third-party broker-dealers recognized as market participants. Significant increases or decreases in the fair value amounts received from these pricing sources may result in the Company’s reporting significantly higher or lower fair value measurements for these Level 3 investments. The fair value of private placement securities is determined by application of a matrix pricing model or a market comparable company value technique. The significant unobservable input to the matrix pricing model valuation technique is the spread over the industry-specific benchmark yield curve. Generally, an increase or decrease in spreads would lead to directionally inverse movement in the fair value measurements of these securities. The significant unobservable input to the market comparable company valuation technique is the discount rate. Generally, a significant increase (decrease) in the discount rate would result in significantly lower (higher) fair value measurements of these securities. Residential mortgage-backed securities classified as Level 3 primarily consist of non-agency paper with low trading activity. Included in the tables above at December 31, 2019 and 2018 , there were no Level 3 securities that were determined by application of a matrix pricing model and for which the spread over the U.S. Treasury curve is the most significant unobservable input to the pricing result. Generally, a change in spreads would lead to directionally inverse movement in the fair value measurements of these securities. Asset-backed securities classified as Level 3 primarily consist of non-agency mortgage loan trust certificates, including subprime and Alt-A paper, credit tenant loans, and equipment financings. Included in the tables above at December 31, 2019 and 2018 , there were no securities that were determined by the application of matrix-pricing for which the spread over the U.S. Treasury curve is the most significant unobservable input to the pricing result. Significant increases (decreases) in spreads would have resulted in significantly lower (higher) fair value measurements. Separate Accounts assets classified as Level 3 at December 31, 2018 of $21 million consist of asset back securities and CMO’s. These fair value measurements are determined using substantially the same valuation techniques as earlier described above for the Company’s General Account investments in these securities. Significant unobservable inputs with respect to the fair value measurement of the Level 3 GMIB reinsurance contract asset and the Level 3 liabilities identified in the table above are developed using the Company data. The significant unobservable inputs used in the fair value measurement of the Company’s GMIB reinsurance contract asset are lapse rates, withdrawal rates and GMIB utilization rates. Significant increases in GMIB utilization rates or decreases in lapse or withdrawal rates in isolation would tend to increase the GMIB reinsurance contract asset. Fair value measurement of the GMIB reinsurance contract asset and liabilities includes dynamic lapse and GMIB utilization assumptions whereby projected contractual lapses and GMIB utilization reflect the projected net amount of risks of the contract. As the net amount of risk of a contract increases, the assumed lapse rate decreases and the GMIB utilization increases. Increases in volatility would increase the asset and liabilities. The significant unobservable inputs used in the fair value measurement of the Company’s GMIBNLG liability are lapse rates, withdrawal rates, GMIB utilization rates, adjustment for Non-performance risk and NLG forfeiture rates. NLG forfeiture rates are caused by excess withdrawals above the annual GMIB accrual rate that cause the NLG to expire. Significant decreases in lapse rates, NLG forfeiture rates, adjustment for non-performance risk and GMIB utilization rates would tend to increase the GMIBNLG liability, while decreases in withdrawal rates and volatility rates would tend to decrease the GMIBNLG liability. The significant unobservable inputs used in the fair value measurement of the Company’s GMWB and GWBL liability are lapse rates and withdrawal rates. Significant increases in withdrawal rates or decreases in lapse rates in isolation would tend to increase these liabilities. Increases in volatility would increase these liabilities. Certain financial instruments are exempt from the requirements for fair value disclosure, such as insurance liabilities other than financial guarantees and investment contracts, limited partnerships accounted for under the equity meth

INSURANCE LIABILITIES

INSURANCE LIABILITIES	12 Months Ended
	Dec. 31, 2019
Insurance [Abstract]
Insurance Liabilities	INSURANCE LIABILITIES Variable Annuity Contracts – GMDB, GMIB, GIB and GWBL and Other Features The Company has certain variable annuity contracts with GMDB, GMIB, GIB and GWBL and other features in-force that guarantee one of the following: • Return of Premium: the benefit is the greater of current account value or premiums paid (adjusted for withdrawals); • Ratchet: the benefit is the greatest of current account value, premiums paid (adjusted for withdrawals), or the highest account value on any anniversary up to contractually specified ages (adjusted for withdrawals); • Roll-Up: the benefit is the greater of current account value or premiums paid (adjusted for withdrawals) accumulated at contractually specified interest rates up to specified ages; • Combo: the benefit is the greater of the ratchet benefit or the roll-up benefit, which may include either a five year or an annual reset; or • Withdrawal: the withdrawal is guaranteed up to a maximum amount per year for life. Liabilities for Variable Annuity Contracts with GMDB and GMIB Features without No-Lapse Guarantee Rider (“NLG”) Feature The change in the liabilities for variable annuity contracts with GMDB and GMIB features and without no-NLG guarantee rider feature is summarized in the tables below. The amounts for the direct contracts (before reinsurance ceded) and assumed contracts are reflected in the consolidated balance sheets in Future policy benefits and other policyholders’ liabilities. The amounts for the ceded contracts are reflected in the consolidated balance sheets in Amounts due from reinsurers. Change in Liability for Variable Annuity Contracts with GMDB and GMIB Features and No NLG Feature Years Ended December 31, 2019 , 2018 and 2017 GMDB GMIB Direct Ceded Direct Ceded (in millions) Balance at January 1, 2017 $ 3,159 $ (1,558 ) $ 3,808 $ (10,314 ) Paid guarantee benefits (354 ) 171 (151 ) 115 Other changes in reserve 1,249 (643 ) 1,097 (289 ) Balance at December 31, 2017 4,054 (2,030 ) 4,754 (10,488 ) Paid guarantee benefits (394 ) 70 (153 ) 61 Other changes in reserve 994 1,853 (860 ) 8,436 Balance at December 31, 2018 4,654 (107 ) 3,741 (1,991 ) Paid guarantee benefits (438 ) 14 (257 ) 72 Other changes in reserve 563 (5 ) 1,204 (547 ) Balance at December 31, 2019 $ 4,779 $ (98 ) $ 4,688 $ (2,466 ) Liabilities for Embedded and Freestanding Insurance Related Derivatives The liability for the GMxB derivative features liability, the liability for SCS, SIO, MSO and IUL indexed features and the asset and liability for the GMIB reinsurance contracts are considered embedded or freestanding insurance derivatives and are reported at fair value. For the fair value of the assets and liabilities associated with these embedded or freestanding insurance derivatives , see Note 7 . Account Values and Net Amount at Risk Account Values and Net Amount at Risk (“NAR”) for direct variable annuity contracts in force with GMDB and GMIB features as of December 31, 2019 are presented in the following tables by guarantee type. For contracts with the GMDB feature, the NAR in the event of death is the amount by which the GMDB feature exceeds the related Account Values. For contracts with the GMIB feature, the NAR in the event of annuitization is the amount by which the present value of the GMIB benefits exceed the related Account Values, taking into account the relationship between current annuity purchase rates and the GMIB guaranteed annuity purchase rates. Since variable annuity contracts with GMDB features may also offer GMIB guarantees in the same contract, the GMDB and GMIB amounts listed are not mutually exclusive. Direct Variable Annuity Contracts with GMDB and GMIB Features at December 31, 2019 Guarantee Type Return of Premium Ratchet Roll-Up Combo Total (in millions; except age and interest rate) Variable annuity contracts with GMDB features Account Values invested in: General Account $ 14,571 $ 93 $ 57 $ 175 $ 14,896 Separate Accounts 48,920 9,258 3,190 33,120 94,488 Total Account Values $ 63,491 $ 9,351 $ 3,247 $ 33,295 $ 109,384 Net Amount at Risk, gross $ 108 $ 36 $ 1,833 $ 17,729 $ 19,706 Net Amount at Risk, net of amounts reinsured $ 108 $ 34 $ 1,280 $ 17,729 $ 19,151 Average attained age of policyholders (in years) 51.1 67.6 74.3 69.4 55.0 Percentage of policyholders over age 70 10.5 % 45.6 % 68.1 % 50.8 % 19.3 % Range of contractually specified interest rates N/A N/A 3% - 6% 3% - 6.5% 3% - 6.5% Variable annuity contracts with GMIB features Account Values invested in: General Account $ — $ — $ 19 $ 226 $ 245 Separate Accounts — — 23,572 35,776 59,348 Total Account Values $ — $ — $ 23,591 $ 36,002 $ 59,593 Net Amount at Risk, gross $ — $ — $ 857 $ 9,344 $ 10,201 Net Amount at Risk, net of amounts reinsured $ — $ — $ 270 $ 8,482 $ 8,752 Average attained age of policyholders (in years) N/A N/A 68.8 69.5 69.4 Weighted average years remaining until annuitization N/A N/A 1.6 0.3 0.5 Range of contractually specified interest rates N/A N/A 3% - 6% 3% - 6.5% 3% - 6.5% For more information about the reinsurance programs of the Company’s GMDB and GMIB exposure, see “Reinsurance” in Note 10 . Separate Accounts Investments by Investment Category Underlying Variable Annuity Contracts with GMDB and GMIB Features The total Account Values of variable annuity contracts with GMDB and GMIB features include amounts allocated to the guaranteed interest option, which is part of the General Account and variable investment options that invest through Separate Accounts in variable insurance trusts. The following table presents the aggregate fair value of assets, by major investment category, held by Separate Accounts that support variable annuity contracts with GMDB and GMIB features. The investment performance of the assets impacts the related Account Values and, consequently, the NAR associated with the GMDB and GMIB benefits and guarantees. Because the Company’s variable annuity contracts offer both GMDB and GMIB features, GMDB and GMIB amounts are not mutually exclusive. Investment in Variable Insurance Trust Mutual Funds December 31, 2019 2018 Mutual Fund Type GMDB GMIB GMDB GMIB (in millions) Equity $ 42,489 $ 17,941 $ 35,541 $ 15,759 Fixed income 5,263 2,699 5,173 2,812 Balanced 45,871 38,445 41,588 33,974 Other 865 263 852 290 Total $ 94,488 $ 59,348 $ 83,154 $ 52,835 Hedging Programs for GMDB, GMIB, GIB and Other Features The Company has a program intended to hedge certain risks associated first with the GMDB feature and with the GMIB feature of the Accumulator series of variable annuity products. The program has also been extended to cover other guaranteed benefits as they have been made available. This program utilizes derivative contracts, such as exchange-traded equity, currency and interest rate futures contracts, total return and/or equity swaps, interest rate swap and floor contracts, swaptions, variance swaps as well as equity options, that collectively are managed in an effort to reduce the economic impact of unfavorable changes in guaranteed benefits’ exposures attributable to movements in the capital markets. At the present time, this program hedges certain economic risks on products sold from 2001 forward, to the extent such risks are not externally reinsured. These programs do not qualify for hedge accounting treatment. Therefore, gains (losses) on the derivatives contracts used in these programs, including current period changes in fair value, are recognized in Net derivative gains (losses) in the period in which they occur, and may contribute to income (loss) volatility. Variable and Interest-Sensitive Life Insurance Policies - NLG The NLG feature contained in variable and interest-sensitive life insurance policies keeps them in force in situations where the policy value is not sufficient to cover monthly charges then due. The NLG remains in effect so long as the policy meets a contractually specified premium funding test and certain other requirements. The change in the fair value of the NLG feature, reflected in Future policy benefits and other policyholders’ liabilities in the consolidated balance sheets, is summarized in the table below: Direct Liability Reinsurance Ceded Net (in millions) Balance at January 1, 2017 $ 1,182 $ (606 ) $ 576 Paid guarantee benefits (24 ) — (24 ) Other changes in reserves (466 ) (58 ) (524 ) Balance at December 31, 2017 692 (664 ) 28 Paid guarantee benefits (23 ) — (23 ) Other changes in reserves 118 (69 ) 49 Balance at December 31, 2018 787 (733 ) 54 Paid guarantee benefits (20 ) — (20 ) Other changes in reserves 126 (74 ) 52 Balance at December 31, 2019 $ 893 $ (807 ) $ 86

LEASES

LEASES	12 Months Ended
	Dec. 31, 2019
Leases [Abstract]
LEASES	LEASES The Company does not record leases with an initial term of 12 months or less in its consolidated balance sheets, but instead recognizes lease expense for these leases on a straight-line basis over the lease term. For leases with a term greater than one year, the Company records in its consolidated balance sheets at the time of lease commencement or modification a right of use (“RoU”) operating lease asset and a lease liability, initially measured at the present value of the lease payments. Lease costs are recognized in the consolidated statements of income (loss) over the lease term on a straight-line basis. RoU operating lease assets represent the Company’s right to use an underlying asset for the lease term and RoU operating lease liabilities represent the Company’s obligation to make lease payments arising from the lease. The Company's operating leases primarily consist of real estate leases for office space. The Company also has operating leases for various types of office furniture and equipment. For certain equipment leases, the Company applies a portfolio approach to effectively account for the RoU operating lease assets and liabilities. For certain lease agreements entered into after the adoption of ASC 842 or for lease agreements for which the lease term or classification was reassessed after the occurrence of a change in the lease terms or a modification of the lease that did not result in a separate contract, the Company elected to combine the lease and related non-lease components for its operating leases; however, the non-lease components associated with the Company’s operating leases are primarily variable in nature and as such are not included in the determination of the RoU operating lease asset and lease liability, but are recognized in the period in which the obligation for those payments is incurred. The Company’s operating leases may include options to extend or terminate the lease, which are not included in the determination of the RoU operating asset or lease liability unless they are reasonably certain to be exercised. The Company's operating leases have remaining lease terms of 1 year to 12 years , some of which include options to extend the leases. The Company typically does not include its renewal options in its lease terms for calculating its RoU operating lease asset and lease liability as the renewal options allow the Company to maintain operational flexibility and the Company is not reasonably certain it will exercise these renewal options until close to the initial end date of the lease. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. As the Company's operating leases do not provide an implicit rate, the Company’s incremental borrowing rate, based on the information available at the lease commencement date, is used in determining the present value of lease payments. The Company primarily subleases floor space within its New Jersey and New York lease properties to various third parties. The lease term for these subleases typically corresponds to the original lease term. Balance Sheet Classification of Operating Lease Assets and Liabilities Balance Sheet Line Item December 31, 2019 (in millions) Assets Operating lease assets Other Assets $ 324 Liabilities Operating lease liabilities Other Liabilities $ 415 The table below summarizes the components of lease costs for the year ended December 31, 2019 . Lease Costs Year Ended December 31, 2019 (in millions) Operating lease cost $ 77 Variable operating lease cost 10 Sublease income (16 ) Short-term lease expense 2 Net lease cost $ 72 Maturities of lease liabilities as of December 31, 2019 are as follows: Maturities of Lease Liabilities December 31, 2019 (in millions) Operating Leases: 2020 $ 95 2021 93 2022 90 2023 81 2024 23 Thereafter 71 Total lease payments 453 Less: Interest (38 ) Present value of lease liabilities $ 415 During December 2018, Equitable Life entered into one additional operating real estate lease with an estimated total base rent of $11 million . This operating lease commenced in August 2019 with a lease term of 10 years . The below table presents the Company’s weighted-average remaining operating lease term and weighted-average discount rate. Weighted Averages - Remaining Operating Lease Term and Discount Rate December 31, 2019 Weighted-average remaining operating lease term 6 years Weighted-average discount rate for operating leases 3.10 % Supplemental cash flow information related to leases was as follows: Lease Liabilities Information Year Ended December 31, 2019 (in millions) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 87 Non-cash transactions: Leased assets obtained in exchange for new operating lease liabilities $ 50 The following table presents the Company’s future minimum lease obligation under ASC 840 as of December 31, 2018 : December 31, 2018 Calendar Year (in millions) 2019 $ 81 2020 $ 74 2021 $ 69 2022 $ 67 2023 $ 63 Thereafter $ 66

REINSURANCE

REINSURANCE	12 Months Ended
	Dec. 31, 2019
Reinsurance Disclosures [Abstract]
Reinsurance	REINSURANCE The Company assumes and cedes reinsurance with other insurance companies. The Company evaluates the financial condition of its reinsurers to minimize its exposure to significant losses from reinsurer insolvencies. Ceded reinsurance does not relieve the originating insurer of liability. The following table summarizes the effect of reinsurance: Years Ended December 31, 2019 2018 2017 (in millions) Direct premiums $ 868 $ 836 $ 880 Reinsurance assumed 194 186 195 Reinsurance ceded (126 ) (160 ) (171 ) Premiums $ 936 $ 862 $ 904 Direct charges and fee income $ 3,821 $ 3,990 $ 4,012 Reinsurance ceded (371 ) (467 ) (718 ) Policy charges and fee income $ 3,450 $ 3,523 $ 3,294 Direct policyholders’ benefits $ 4,339 $ 3,378 $ 4,159 Reinsurance assumed 216 219 8 Reinsurance ceded (436 ) (592 ) (694 ) Policyholders’ benefits $ 4,119 $ 3,005 $ 3,473 Ceded Reinsurance The Company reinsures most of its new variable life, UL and term life policies on an excess of retention basis. The Company generally retains on a per life basis up to $25 million for single lives and $30 million for joint lives with the excess 100% reinsured. The Company also reinsures risk on certain substandard underwriting risks and in certain other cases. Effective February 1, 2018, Equitable Life entered into a coinsurance reinsurance agreement (the “Coinsurance Agreement”) to cede 90% of its single premium deferred annuities (“SPDA”) products issued between 1978-2001 and its Guaranteed Growth Annuity (“GGA”) single premium deferred annuity products issued between 2001-2014. As a result of this agreement, Equitable Life transferred securi ties with a market value of $604 million and cash of $31 million to equal the statutory reserves of approximately $635 million . As the risks transferred by Equitable Life to the reinsurer under the Coinsurance Agreement are not considered insurance risks and therefore do not qualify for reinsurance accounting, Equitable Life applied deposit accounting. Accordingly, Equitable Life recorded the transferred assets of $635 million as a deposit asset recorded in O ther assets, net of the ceding commissions paid to the reinsurer. At December 31, 2019 and 2018 , the Company had reinsured with non-affiliates in the aggregate approximately 2.8 % and 2.9% , respectively, of its current exposure to the GMDB obligation on annuity contracts in-force and, subject to certain maximum amounts or caps in any one period, approximately 14.2 % and 15.5% of its current liability exposure, respectively, resulting from the GMIB feature. For additional information, see Note 8 . Based on management’s estimates of future contract cash flows and experience, the estimated net fair values of the ceded GMIB reinsurance contracts, considered derivatives were $2.5 billion and $2.0 billion at December 31, 2019 and 2018 , respectively. The estimated fair values increased $475 million and $174 million during 2019 and 2017 , respectively, and decreased $8.5 billion during 2018 . At December 31, 2019 and 2018 , third-party reinsurance recoverables related to insurance contracts amounted to $2.2 billion . Additionally, $1.6 billion and $1.7 billion of the amounts due from reinsurers related to two specific reinsurers, Zurich Insurance Company Ltd. (AA- rating by S&P ), and Paul Revere Life Insurance Company (A rating by S&P ). Third-party reinsurance payables related to insurance contracts were $90 million and $91 million , at December 31, 2019 and 2018 , respectively. The Company cedes substantially all of its group health business to a third-party insurer. Insurance liabilities ceded totaled $56 million and $62 million at December 31, 2019 and 2018 , respectively. The Company also cedes a portion of its extended term insurance and paid-up life insurance and substantially all of its individual disability income business through various coinsurance agreements. Assumed Reinsurance In addition to the sale of insurance products, the Company currently acts as a professional retrocessionaire by assuming risk from professional reinsurers. The Company assumes accident, life, health, aviation, special risk and space risks by participating in or reinsuring various reinsurance pools and arrangements. Reinsurance assumed reserves were $735 million and $712 million at December 31, 2019 and 2018 , respectively. For reinsurance agreements with affiliates, see “Related Party Transactions” in Note 12 .

LOANS TO AND FROM AFFILIATES

LOANS TO AND FROM AFFILIATES	12 Months Ended
	Dec. 31, 2019
Related Party Transactions [Abstract]
LOANS TO AND FROM AFFILIATES	LOANS TO AND FROM AFFILIATES Loans to affiliates Loans Issued to Holdings In April 2018, Equitable Life made a $800 million loan to Holdings. The loan has an interest rate of 3.69% and matures in April 2021. In December 2018, Holdings repaid $200 million of this loan. In December 2019, Holdings repaid $300 million . At December 2019, the amount outstanding was $300 million . In November 2019, Equitable Life made a $900 million loan to Holdings. The loan has an interest rate of one-month LIBOR plus 1.33% . The loan matures on November 24, 2024 . Loans from affiliates Senior Surplus Notes Issued to Holdings On December 28, 2018, Equitable Life issued a $572 million senior surplus note due December 28, 2019 to Holdings, which bears interest at a fixed rate of 3.75% , payable semi-annually. The surplus note is intended to have priority in right of payments and in all other respects to any and all other surplus notes issued by Equitable Life at any time. Equitable Life repaid this note and $4 million of related interest expense on March 5, 2019. As of December 31, 2019 2018 (in millions) Loans to affiliates EQH-AEL internal debt (3.69%, due 2021) $ 300 $ 600 EQH-AEL internal debt (one-month LIBOR + 1.33%, due 2024) 900 — Total loans to affiliates $ 1,200 $ 600 Loans from affiliates Senior Notes (3.75%, due 2019) $ — $ 572 Total loans from affiliates $ — $ 572

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2019
Related Party Transactions [Abstract]
Related Party Transactions	RELATED PARTY TRANSACTIONS Parties are considered to be related if one party has the ability to control or exercise significant influence over the other party in making financial or operating decisions. Since transactions with related parties may raise potential or actual conflicts of interest between the related party and the Company, Holdings has implemented a related party transaction policy that requires related party transactions to be reviewed and approved by its Audit Committee. Following the decrease in AXA’s ownership interest in the Company from approximately 39% to approximately 10% on November 13, 2019 (the “November Offering”), AXA and its affiliates (collectively, “AXA Affiliates”) are no longer considered related parties of the Company. Transactions with AXA Affiliates continue to be reported as related party transactions for periods prior to the November Offering. The Company also had entered into related party transactions with other related parties that are described herein. Cost Sharing and General Service Agreements In the second quarter of 2018, Equitable Life entered into a general services agreement with Holdings whereby Equitable Life will benefit from the services received by Holdings from AXA Affiliates for a limited period following the Holdings IPO under a transition services agreement. The general services agreement with Holdings replaces existing cost-sharing and general service agreements with various AXA Affiliates. Equitable Life continues to provide services to Holdings and various AXA Affiliates under a separate existing general services agreement with Holdings. Costs allocated to the Company from Holdings totaled $73 million and $138 million for the years ended December 31, 2019 and 2018, respectively, and are allocated based on cost center tracking of expenses. The cost centers are approved annually and are updated based on business area needs throughout the year. Investment Management and Service Fees and Expenses Equitable FMG, a subsidiary of Equitable Life, provides investment management and administrative services to EQAT, Equitable Premier VIP Trust, 1290 Funds and Other AXA Trusts, all of which are considered related parties. Investment management and service fees earned are calculated as a percentage of assets under management and are recorded as revenue as the related services are performed. AXA Investment Managers Inc. (“AXA IM”) and AXA Rosenberg Investment Management LLC (“AXA Rosenberg”) provide sub-advisory services with respect to certain portfolios of EQAT, Equitable Premier VIP Trust and the Other AXA Trusts. Also, AXA IM and AXA Real Estate Investment Managers (“AXA REIM”) manage certain General Account investments. Fees paid to these affiliates are based on investment advisory service agreements with each affiliate. Effective December 31, 2018, Equitable Life transferred its interest in ABLP, AB Holdings and the General Partner to a newly formed subsidiary and distributed the shares of the subsidiary to its direct parent which subsequently distributed the shares to Holdings (the “AB Business Transfer”). Accordingly, AB’s related party transactions with AXA Affiliates and mutual funds sponsored by AB are reflected as a discontinued operation in the Company’s consolidated financial statements for the year ended December 31, 2018. Investment management and other services provided by AB prior to the AB Business Transfer will continue based upon the Company’s business needs. The Company recorded investment management fee expense from AllianceBernstein of $102 million and $65 million , for the years ended December 31, 2019 and 2018 , respectively. See Note 19 for further details of the AB Business Transfer and the discontinued operation. As December 31, 2019 and 2018, respectively, the Company held approximately $30 million and $36 million of invested assets in the form of equity interests issued in non-corporate legal entities that were determined by the Company to be VIEs, as further described in Note 2 . These legal entities are related parties of Equitable Life. The Company reflects these equity interest in the consolidated Balance Sheets as Other equity investments. The net assets of these unconsolidated VIEs are approximately $974 million and $784 million at December 31, 2019 and 2018, respectively. The Company also has approximately $20 million and $30 million of unfunded commitments at December 31, 2019 and 2018 , respectively with these legal entities. Distribution Revenue and Expenses with Affiliates Equitable Distributors receives commissions and fee revenue from Equitable America for sales of its insurance products. The commissions and fees earned from Equitable America are based on the various selling agreements. Equitable Life pays commissions and fees to AXA Distribution Holding Corporation and its subsidiaries (“AXA Distribution”) for sales of insurance products. The commissions and fees paid to AXA Distribution are based on various selling agreements. Insurance-Related Transactions with Affiliates GMxB Unwind Prior to April 2018, Equitable Life ceded the following to AXA RE Arizona, an indirect, wholly-owned subsidiary of Holdings: (i) a 100% quota share of all liabilities for variable annuities with GMxB riders issued on or after January 1, 2006 and in-force on September 30, 2008 (the “GMxB Business”); (ii) a 100% quota share of all liabilities for variable annuities with GMIB riders issued on or after May 1, 1999 through August 31, 2005 in excess of the liability assumed by two unaffiliated reinsurers, which are subject to certain maximum amounts or limitations on aggregate claims; and (iii) a 90% quota share of level premium term insurance issued by Equitable Life on or after March 1, 2003 through December 31, 2008 and lapse protection riders under certain series of universal life insurance policies issued by Equitable Life on or after June 1, 2003 through June 30, 2007. On April 12, 2018, Equitable Life completed the unwind of the reinsurance previously provided to Equitable Life by AXA RE Arizona for certain variable annuities with GMxB features (the “GMxB Unwind”). Accordingly, all of the business previously ceded to AXA RE Arizona, with the exception of the GMxB Business, was novated to EQ AZ Life Re Company (“EQ AZ Life Re”), a newly formed captive insurance company organized under the laws of Arizona, which is an indirect wholly-owned subsidiary of Holdings. Following the novation of business to EQ AZ Life Re, AXA RE Arizona was merged with and into Equitable Life. Following AXA RE Arizona’s merger with and into Equitable Life, the GMxB Business is not subject to any new internal or third-party reinsurance arrangements, though in the future Equitable Life may reinsure the GMxB Business with third parties. AXA RE Arizona novated the Life Business from AXA RE Arizona to EQ AZ Life Re as part of the GMxB Unwind. As a result, EQ AZ Life Re reinsures a 90% quota share of level premium term insurance issued by Equitable Life on or after March 1, 2003 through December 31, 2008 and lapse protection riders under UL insurance policies issued by Equitable Life on or after June 1, 2003 through June 30, 2007 and the Excess Risks. The GMxB Unwind was considered a pre-existing relationship required to be effectively settled at fair value. The loss relating to this relationship resulted from the settlement of the reinsurance contracts at fair value and the write-off of previously recorded assets and liabilities related to this relationship recorded in the Company’s historical accounts. The pre-tax loss recognized in the second quarter of 2018 was $2.6 billion ( $2.1 billion net of tax). The Company wrote-off a $1.8 billion deferred cost of reinsurance asset which was previously reported in Other assets. Additionally, the remaining portion of the loss was determining by calculating the difference between the fair value of the assets received compared to the fair value of the assets and liabilities already recorded within the Company’s consolidated financial statements. The Company’s primary assets previously recorded were reinsurance recoverables, including the reinsurance recoverable associated with GMDB business. There was an approximate $400 million difference between the fair value of the GMDB recoverable compared to its carrying value which is accounted for under ASC 944. The assets received and the assets removed were as follows: As of April 12, 2018 (in millions) Assets Received Assets Removed Assets at fair value: Fixed income securities $ 7,083 Short-term investments 205 Money market funds 2 Accrued interest 43 Derivatives 282 Cash and cash equivalents 1,273 Total $ 8,888 Deferred cost of reinsurance asset $ 1,839 GMDB ceded reserves 2,317 GMIB reinsurance contract asset 7,463 Payable to AXA RE Arizona 270 Total $ 11,889 Significant non-cash transactions involved in the GMxB Unwind included: (a) the increase in total investments includes non-cash activities of $7.6 billion for assets received related to the recapture transaction; (b) cancellation of the $300 million surplus note between the Company and AXA RE Arizona; and (c) settlement of the intercompany receivables/payables to AXA RE Arizona of $270 million . In addition, upon merging the remaining assets of AXA Re Arizona into Equitable Life, $1.2 billion of deferred tax assets were recorded on the balance sheet through an adjustment to Capital in excess of par value. The reinsurance arrangements with EQ AZ Life Re provide important capital management benefits to Equitable Life. At December 31, 2019 , the Company’s GMIB reinsurance contract asset with EQ AZ Life Re had carrying values of $327 million and is reported in GMIB contract reinsurance asset, at fair value in the consolidated balance sheets. Ceded premiums and policy fee income in 2019 and 2018 totaled approximately $62 million and $100 million , respectively. Ceded claims paid in 2019 and 2018 were $52 million and $78 million , respectively. Prior to April 2018, Equitable Life reinsured to AXA RE Arizona, a 100% quota share of all liabilities for variable annuities with enhanced GMDB and GMIB riders issued on or after January 1, 2006 and in-force on September 30, 2008. AXA RE Arizona also reinsured a 90% quota share of level premium term insurance issued by Equitable Life on or after March 1, 2003 through December 31, 2008 and lapse protection riders under UL insurance policies issued by Equitable Life on or after June 1, 2003 through June 30, 2007. The reinsurance arrangements with AXA RE Arizona provided important capital management benefits to Equitable Life. At December 31, 2017, the Company’s GMIB reinsurance contract asset with AXA RE Arizona had a carrying value of $8.6 billion and was reported in GMIB reinsurance contract asset, at fair value in the consolidated balance sheets. Ceded premiums and policy fee income in 2017 totaled approximately $454 million . Ceded claims paid in 2017 were $213 million . Reinsurance Assumed from AXA Affiliates Prior to 2019, AXA Global Life retroceded a quota share portion of certain life and health risks of various AXA Affiliates to Equitable Life and Equitable America on a one-year term basis. The agreement was closed effective December 31, 2018. Also, AXA Life Insurance Company Ltd. cedes a portion of its variable deferred annuity business to Equitable Life. Premiums earned in 2019 , 2018 and 2017 were $19 million , $20 million and $20 million , respectively. Claims and expenses paid in 2019 , 2018 and 2017 were $6 million , $8 million , and $5 million , respectively. Reinsurance Ceded to AXA Affiliates Equitable Life entered into a stop loss reinsurance agreement with AXA Global Life (“AGL”) to protect Equitable Life with respect to a deterioration in its claims experience following the occurrence of an extreme mortality event. Equitable Life also accepts certain retrocession policies through reinsurance agreements with various reinsurers and retrocedes to AGL the excess of its first retention layer. The Company’s subsidiaries entered into a Life Catastrophe Excess of Loss Reinsurance Agreement (the “Excess of Loss Agreement”) with a number of subscribing reinsurers, which included AGL. AGL participated as a subscribing reinsurer with 5% of the pool, pro rata, across the upper and lower layers through the contract period ending March 31, 2018. Premiums and expenses paid for the above agreements in 2019 , 2018 and 2017 were $3 million , $4 million , and $4 million , respectively. On September 12, 2018, AXA Group acquired XL Catlin. Prior to the acquisition, Equitable Life had ceded part of our disability income business to XL Catlin and as of December 31, 2019 and 2018 , the reserves ceded were $104 million and $93 million , respectively. Investments in Unconsolidated Equity Interests in AXA Affiliates As December 31, 2019 and 2018, respectively, the Company held approximately $229 million and $237 million of invested assets in the form of equity interests issued in non-corporate legal entities that were determined by the Company to be VIEs, as further described in Note 2 . These legal entities are related parties of Equitable Life. The Company reflects these equity interest in the consolidated Balance Sheets as Other equity investments. The net assets of these unconsolidated VIEs are approximately $10 billion and $9 billion at December 31, 2019 and 2018, respectively. The Company also has approximately $205 million and $249 million of unfunded commitments at December 31, 2019 and 2018 , respectively with these legal entities. Assumption by Holdings of Obligations of AXA Financial to Equitable Life On October 1, 2018, AXA Financial merged with and into its direct parent, Holdings, with Holdings continuing as the surviving entity. As a result, Holdings assumed AXA Financial’s obligations with respect to the Company, including obligations related to certain benefit plans. In March 2018, Equitable Life sold its interest in two consolidated real estate joint ventures to AXA France for a total purchase price of approximately $143 million , which resulted in a pre-tax loss of $0.2 million and the elimination of $202 million of long-term debt from the Company’s consolidated balance sheets at December 31, 2018. Revenues and Expenses for 2019 , 2018 and 2017 The table below summarizes the fees received/paid by the Company and the expenses reimbursed to/from the Company in connection with certain services described above for the years ended December 31, 2019 , 2018 and 2017 . Years ended December 31, 2019 2018 2017 (in millions) Revenue received or accrued for: Investment management and administrative services provided to EQAT, Equitable Premier VIP Trust, 1290 Funds and Other AXA Trusts $ 669 $ 727 $ 720 General services provided to affiliates (1) 460 463 439 Amounts received or accrued for commissions and fees earned for sale of Equitable America’s insurance products 39 44 45 Total $ 1,167 $ 1,234 $ 1,204 Expenses paid or accrued for: Paid or accrued commission and fee expenses for sale of insurance products by AXA Equitable Distribution $ 573 $ 613 $ 608 General services provided by affiliates (1) 76 109 186 Investment management services provided by AXA IM, AXA REIM and AXA Rosenberg 5 2 5 Total $ 654 $ 724 $ 799 ____________ (1) Includes AXA Affiliates and affiliates of Holdings. Contribution to the Equitable Foundation In November 2019, Equitable Life made a $25 million funding contribution to the Equitable Foundation. The Equitable Foundation is the philanthropic arm of Equitable Life.

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	12 Months Ended
	Dec. 31, 2019
Retirement Benefits [Abstract]
Employee Benefit Plans	EMPLOYEE BENEFIT PLANS Equitable Life sponsors the following employee benefit plans: 401(k) Plan Equitable Life sponsors the AXA Equitable 401(k) Plan, a qualified defined contribution plan for eligible employees and financial professionals. The plan provides for both a company contribution and a discretionary profit-sharing contribution. Expenses associated with this 401(k) Plan were $22 million , $19 million and $15 million for the years ended December 31, 2019 , 2018 and 2017 , respectively. In December 2018 the Company announced a 3% Company match for the AXA Equitable 401(k) Plan beginning January 1, 2019. This match will supplement the existing Company contribution on eligible compensation. Pension Plan Equitable Life also sponsors the AXA Equitable Retirement Plan (the “AXA Equitable QP”), a frozen qualified defined benefit pension plan covering its eligible employees and financial professionals. This pension plan is non-contributory, and its benefits are generally based on a cash balance formula and/or, for certain participants, years of service and average income over a specified period in the plan. Effective December 31, 2015, primary liability for the obligations of Equitable Life under the AXA Equitable QP was transferred from Equitable Life to AXA Financial, and upon the merger of AXA Financial into Holdings, Holdings assumes primary liability under terms of an Assumption Agreement. Equitable Life remains secondarily liable for its obligations under the AXA Equitable QP and would recognize such liability in the event Holdings does not perform under the terms of the Assumption Agreement. The AXA Equitable QP is not governed by a collective-bargaining agreement and is not under a financial improvement plan or a rehabilitation plan. For the years ended December 31, 2019 , 2018 and 2017 , expenses related to the plan were $21 million , $60 million and $27 million , respectively. The following table presents the funded status of the plan: As of December 31, 2019 2018 (in millions) Legal Name of Plan: AXA Equitable Retirement Plan EIN# 13-5570651 Total Plan Assets $ 2,159 $ 1,993 Accumulated Benefit Obligation $ 2,160 $ 2,039 Funded Status 99.9 % 97.8 % Other Benefit Plans Equitable Life also sponsors a non-qualified retirement plan, a medical and life retiree plan, a post-employment plan and deferred compensation plan. The expenses related to these plans were $47 million , $70 million and $37 million for the years ended December 31, 2019 , 2018 and 2017 , respectively.

SHARE-BASED AND OTHER COMPENSAT

SHARE-BASED AND OTHER COMPENSATION PROGRAMS	12 Months Ended
	Dec. 31, 2019
Share-based Payment Arrangement [Abstract]
Share-Based and Other Compensation Programs	SHARE-BASED COMPENSATION PROGRAMS Compensation costs for 2019 , 2018 and 2017 for share-based payment arrangements as further described herein are as follows: Years Ended December 31, 2019 2018 2017 (in millions) Performance Shares $ 10 $ 12 $ 18 Stock Options 3 2 1 AXA Shareplan — — 9 Restricted Stock Unit Awards 15 16 2 Other Compensation Plans (1) — — — Total Compensation Expenses $ 28 $ 30 $ 30 ____________ (1) Includes stock appreciation rights and employee stock purchase plans. Since 2018, Holdings has granted equity awards under the Equitable Holdings, Inc. 2018 Omnibus Incentive Plan (the “2018 Omnibus Plan”) and the Equitable Holdings, Inc. 2019 Omnibus Incentive Plan (the “2019 Omnibus Plan”) which were adopted by Holdings on April 25, 2018 and February 28, 2019 respectively. Awards under the 2018 and 2019 Omnibus Plans are linked to Holdings’ common stock. As of December 31, 2019 , the common stock reserved and available for issuance under the 2018 and 2019 Omnibus Plans was 12.5 million shares. Holdings may issue new shares or use common stock held in treasury for awards linked to Holdings’ common stock. Equitable Life’s Participation in Holdings’ Equity Award Plans Equitable Life’s employees, financial professionals and directors in 2019 and 2018 were granted equity awards under the 2019 and 2018 Omnibus Plans with the exception of the Holdings restricted stock units (“Holdings RSUs”) granted to financial professionals in 2018. All grants discussed in this section will be settled in shares of Holdings’ common stock except for the RSUs granted to financial professionals in 2019 and 2018 which will be settled in cash. For awards with graded vesting schedules and service-only vesting conditions, including Holdings RSUs and other forms of share-based payment awards, Holdings applies a straight-line expense attribution policy for the recognition of compensation cost. Actual forfeitures with respect to the 2019 and 2018 grants were considered immaterial in the recognition of compensation cost. Annual Awards Under 2019 and 2018 Equity Programs Each year, the Compensation Committee of the Holdings’ Board of Directors approves an equity-based award program with awards under the program granted at its regularly scheduled meeting in February. Annual awards under Holdings’ 2019 and 2018 equity programs consisted of a mix of equity vehicles including Holdings restricted stock units (“RSUs”), Holdings stock options and Holdings performance shares. If Holdings pays any ordinary dividend in cash, all outstanding Holdings RSUs and performance shares will accrue dividend equivalents in the form of additional Holdings RSUs or performance shares to be settled or forfeited consistent with the terms of the related award. Holdings RSUs Holdings RSUs granted to Equitable Life employees under the 2019 and 2018 equity programs vest ratably in equal annual installments over a three -year period. The fair value of the awards was measured using the closing price of the Holdings share on the grant date, and the resulting compensation expense will be recognized over the shorter of the vesting term or the period up to the date at which the participant becomes retirement eligible, but not less than one year. Cash-settled Holdings RSUs granted to eligible Equitable Life financial professionals under the 2019 and 2018 equity programs vest ratably in equal installments over a three -year period. The cash payment for each RSU will equal the average closing price for a Holdings share on the NYSE over the 20 trading days immediately preceding the vesting date. These awards are liability-classified and require fair value remeasurement based upon the price of a Holdings share at the close of each reporting period. Holdings Stock Options Holdings stock options granted to Equitable Life employees under the 2019 and 2018 equity programs have a three -year graded vesting schedule, with one-third vesting on each of the three anniversaries. The total grant date fair value of Holdings stock options will be charged to expense over the shorter of the vesting period or the period up to the date at which the participant becomes retirement eligible, but not less than one year. Holdings Performance Shares Holdings performance shares granted to Equity Life’s employees under the 2019 and 2018 equity programs are subject to performance conditions and a three-year cliff-vesting. The performance shares consist of two distinct tranches; one based on Holding’s return-on-equity targets (the “ROE Performance Shares”) and the other based on the Holdings’ relative total shareholder return targets (the “TSR Performance Shares”), each comprising approximately one-half of the award. Participants may receive from 0% to 200% of the unearned performance shares granted. The grant-date fair value of the ROE Performance Shares will be established once all of Holdings’ applicable Non-GAAP ROE targets are determined and approved. The grant-date fair value of the TSR Performance Shares was measured using a Monte Carlo approach. Under the Monte Carlo approach, stock returns were simulated for Holdings and the selected peer companies to estimate the payout percentages established by the conditions of the award. The aggregate grant-date fair value of the unearned TSR Performance Shares will be recognized as compensation expense over the shorter of the cliff-vesting period or the period up to the date at which the participant becomes retirement eligible, but not less than one year. Director Awards Holdings granted unrestricted Holdings shares to non-employee directors of Holdings, Equitable Life in 2019 and 2018. The fair value of these awards was measured using the closing price of Holdings shares on the grant date. These awards immediately vest and all compensation expense is recognized at the grant date. One-Time Awards Granted in 2018 Transaction Incentive Awards On May 9, 2018, coincident with the IPO, Holdings granted one-time “Transaction Incentive Awards” to executive officers and certain other R&P employees in the form of 722 thousand Holdings RSUs. Fifty percent of the Holdings RSUs will vest based on service over a two -year period from the IPO date (the “Service Units”), and fifty percent t will vest based on service and a market condition (the “Performance Units”). The market condition is based on share price growth of at least 130% or 150% within a two or five -year period, respectively. If the market condition is not achieved, 50% of the Performance Units may still vest based on five years of continued service and the remaining Performance Units will be forfeited. The grant-date fair value of half of the Performance Units, was at the $20 IPO price for a Holdings share as employees are still able to vest in these awards even if the share price growth targets are not achieved. The resulting compensation expense is recognized over the five -year requisite service period. The grant-date fair value of $16.47 was used to value the remaining half of the Performance Units that are subject to risk of forfeiture for non-achievement of the Holdings share price conditions. The grant date fair value was measured using Monte Carlo simulation from which a five -year requisite service period was derived, representing the median of the distribution of stock price paths on which the market condition is satisfied. Special IPO Grant Also, on May 9, 2018, Holdings made a grant of 357 thousand Holdings RSUs to Equitable Life employees and financial professionals, or 50 restricted stock units to each eligible individual, that cliff vested on November 9, 2018. The grant-date fair value of the award was measured using the $20 IPO price for a Holdings share and all compensation expense was recognized as of November 9, 2018. Prior Equity Award Grants and Settlements In 2017 and prior years, equity awards for employees, financial professional and directors were available under the umbrella of AXA’s global equity program. Accordingly, equity awards granted in 2017 and prior years were linked to AXA’s stock. Employees were granted AXA ordinary share options each year under the AXA Stock Option Plan for AXA Financial Employees and Associates (the “Stock Option Plan”). There is no limitation in the Stock Option Plan on the number of shares that may be issued pursuant to option or other grants. Employees were also granted AXA performance shares under the AXA International Performance Shares Plan established for each year (the “Performance Share Plan”) and financial professionals were granted performance units under the AXA Advisors Performance Unit Plan established for each year. The fair values of these prior awards are measured at the grant date by reference to the closing price of the AXA ordinary share, and the result, as adjusted for achievement of performance targets and pre-vesting forfeitures, generally is attributed over the shorter of the requisite service period, the performance period, if any, or to the date at which retirement eligibility is achieved and subsequent service no longer is required for continued vesting of the award. Remeasurements of fair value for subsequent price changes until settlement are made only for performance unit awards that are settled in cash. The fair value of performance units earned and reported in Other liabilities in the consolidated balance sheets at December 31, 2019 and 2018 was $43 million and $32 million , respectively. 2017 Performance Shares Grant Under the terms of the 2017 Performance Share Plan, AXA awarded performance shares to Equitable Life employees. The extent to which 2017-2019 cumulative performance targets measuring the performance of AXA and select businesses are achieved will determine the number of performance shares earned. For all Equitable Life employees, the number of performance shares earned may vary between 0% and 130% of the number of performance shares at stake. The performance shares earned during this performance period will vest and be settled on the fourth anniversary of the award date. 2017 Performance Units Grant Under the terms of the AXA Advisors Performance Unit Plan performance units were granted to Equitable Life financial professionals. The performance units will be cash settled and are remeasured until settlement of the awards. The performance units will be earned based on meeting pre-established performance metrics tied to achievement of specific sale and earnings goals. For all awards, the number of performance units earned may vary between 0% and 130% of the number of performance units at stake. The performance units earned during this performance period will vest and be settled on the fourth anniversary of the award date. 2017 Stock Options Grant On June 21, 2017, 0.5 million options to purchase AXA ordinary shares were granted to Equitable Life employees under the terms of the Stock Option Plan with a ten -year term. All of those options have a five -year graded schedule, with one-third vesting on each of the third, fourth, and fifth anniversaries of the grant date. Of the total awarded on June 21, 2017, 0.3 million are further subject to conditional vesting terms that require the AXA ordinary share price to outperform the Euro Stoxx Insurance Index over a specified period. Other Grants Prior to the IPO, non-officer directors of Holdings and certain subsidiaries were granted restricted AXA ordinary shares (prior to 2011, AXA ADRs) and unrestricted AXA ordinary shares (prior to March 15, 2010, AXA ADRs) annually under The Equity Plan for Directors. The Company has also granted AXA restricted stock units (“AXA RSUs”) to certain executives. The AXA RSUs are phantom AXA ordinary shares that, once vested, entitle the recipient to a cash payment based on the average closing price of the AXA ordinary share over the twenty trading days immediately preceding the vesting date. Summary of Stock Option Activity A summary of activity in the AXA and Holdings option plans during 2019 follows: Options Outstanding EQH Shares AXA Ordinary Shares AXA ADRs (2) Number Outstanding (In 000’s) Weighted Average Exercise Price Number Outstanding (In 000’s) Weighted Average Exercise Price Number Outstanding (In 000’s) Weighted Average Exercise Price Options Outstanding at January 1, 2019 835 $ 21.34 2,609 € 18.20 15 $ 15.37 Options granted 1,251 $ 18.74 156 € 21.60 — $ — Options exercised 23 $ 21.34 856 € 16.40 15 $ 15.37 Options forfeited, net 133 $ 20.29 182 € 19.72 — $ — Options expired — $ — — € — — $ — Options Outstanding at December 31, 2019 1,930 $ 19.73 1,727 € 20.09 — $ — Aggregate Intrinsic Value (1) $ 9,755 € 8,661 $ — Weighted Average Remaining Contractual Term (in years) 8.85 5.20 — Options Exercisable at December 31, 2019 250 $ 21.34 1,527 € 19.74 — $ — Aggregate Intrinsic Value (1) $ 859 € 8,207 $ — Weighted Average Remaining Contractual Term (in years) 8.43 4.85 — ____________ (1) Aggregate intrinsic value, presented in thousands, is calculated as the excess of the closing market price on December 31, 2019 of the respective underlying shares over the strike prices of the option awards. For awards with strike prices higher then market prices, intrinsic value is shown as zero. (2) AXA ordinary shares will be delivered to participants in lieu of AXA ADRs at exercise or maturity. For the purpose of estimating the fair value of Holdings and AXA stock option awards, the Black-Scholes is used. A Monte-Carlo simulation approach was used to model the fair value of the conditional vesting feature of the awards of options to purchase Holdings and AXA ordinary shares. Shown below are the relevant input assumptions used to derive the fair values of options awarded in 2019, 2018 and 2017. EQH Shares (1) AXA Ordinary Shares (2) 2019 2018 2019 2018 2017 Dividend yield 2.77 % 2.44 % NA NA 6.49 % Expected volatility 25.70 % 25.40 % NA NA 26.6 % Risk-free interest rates 2.49 % 2.83 % NA NA 0.33 % Expected life in years 5.8 9.7 NA NA 8.1 Weighted average fair value per option at grant date $ 3.82 $ 4.61 NA NA $ 2.06 ____________ (1) The expected volatility is based on historical selected peer data, the weighted average expected term is determined by using the simplified method due to lack of sufficient historical data, the expected dividend yield based on Holdings’ expected annualized dividend, and the risk-free interest rate is based on the U.S. Treasury bond yield for the appropriate expected term. (2) The expected AXA dividend yield is based on market consensus. AXA share price volatility is estimated on the basis of implied volatility, which is checked against an analysis of historical volatility to ensure consistency. The risk-free interest rate is based on the Euro Swap Rate curve for the appropriate term. The effect of expected early exercise is taken into account through the use of an expected life assumption based on historical data. As of December 31, 2019 , approximately $0.4 million of unrecognized compensation cost related to AXA unvested stock option awards is expected to be recognized by the Equitable Life over a weighted-average period of 0.7 years. Approximately $3 million of unrecognized compensation cost related to Holdings unvested stock option awards is expected to be recognized by the Equitable Life over a weighted average period of 0.8 years. Restricted Awards The market price of a Holdings share is used as the basis for the fair value measure of a Holdings RSU. For purposes of determining compensation cost for stock-settled Holdings RSUs, fair value is fixed at the grant date until settlement, absent modification to the terms of the award. For liability-classified cash-settled Holdings and AXA RSUs, fair value is remeasured at the end of each reporting period. At December 31, 2019 , approximately 1.8 million Holdings RSUs and AXA ordinary share unit awards remain unvested. Unrecognized compensation cost related to these awards totaled approximately $19 million and is expected to be recognized over a weighted-average period of 1.08 years. Following table summarizes Holdings restricted share units and AXA ordinary share unit activity for 2019 . Shares of Holdings Restricted Stock Weighted Average Grant Date Fair Value Shares of AXA Restricted Stock Weighted Average Grant Date Fair Value Unvested as of January 1, 2019 1,259,059 $ 21.00 48,334 $ 20.38 Granted 1,007,057 $ 18.22 — $ — Forfeited 125,915 $ 19.74 — $ — Vested 334,900 $ 20.51 29,054 $ 21.35 Unvested as of December 31, 2019 1,805,301 $ 19.35 19,280 $ 19.20 Performance Awards At December 31, 2019 , approximately 2.5 million Holdings and AXA performance awards remain unvested. Unrecognized compensation cost related to these awards totaled approximately $10 million and is expected to be recognized over a weighted-average period of 0.64 years. The following table summarizes Holdings and AXA performance awards activity for 2019 . Shares of Holdings Performance Awards Weighted-Average Grant Date Shares of AXA Performance Awards Weighted-Average Grant Date Unvested as of January 1, 2019 166,552 $ 23.17 3,159,577 $ 20.10 Granted 243,041 $ 19.67 149,757 $ 20.70 Forfeited 25,952 $ 21.77 210,329 $ 20.20 Vested — $ — 944,945 $ 20.23 Unvested as of December 31, 2019 383,641 $ 21.05 2,154,059 $ 20.08 Employee Stock Purchase Plans Holdings Stock Purchase Plan Under the Equitable Holdings, Inc. Stock Purchase Program (“SPP”) participants are able to contribute up to 100% of their eligible compensation and receive a matching contribution in cash equal to 15% of their payroll contribution, which is used to purchase Holdings shares. Purchases are made at the end of each month at the prevailing market rate. AXA Shareplan 2017 In 2017, eligible employees of participating AXA subsidiaries were offered the opportunity to purchase newly issued AXA ordinary shares, subject to plan limits, under the terms of AXA Shareplan 2017. Investment Option A permitted participants to purchase AXA ordinary shares at a 20% formula discounted price of €20.19 per share. Investment Option B permitted participants to purchase AXA ordinary shares at an 8.98% formula discounted price of €22.96 per share on a leveraged basis with a guaranteed return of initial investment plus a portion of any appreciation in the undiscounted value of the total shares purchased. All subscriptions became binding and irrevocable on October 17, 2017.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES A summary of the income tax (expense) benefit in the consolidated statements of income (loss) follows: Years Ended December 31, 2019 2018 2017 (in millions) Income tax (expense) benefit: Current (expense) benefit $ 295 $ 234 $ (6 ) Deferred (expense) benefit 289 212 1,216 Total $ 584 $ 446 $ 1,210 The Federal income taxes attributable to consolidated operations are different from the amounts determined by multiplying the earnings before income taxes and noncontrolling interest by the expected Federal income tax rate of 21% , 21% and 35% for 2019 , 2018 and 2017 , respectively. The sources of the difference and their tax effects are as follows: Years Ended December 31, 2019 2018 2017 (in millions) Expected income tax (expense) benefit $ 510 $ 311 $ (542 ) Noncontrolling interest 1 (1 ) — Non-taxable investment income 73 104 241 Tax audit interest (14 ) (11 ) (6 ) State income taxes (2 ) (1 ) (3 ) Tax settlements/uncertain tax position release 12 — 221 Change in tax law — 46 1,308 Other 4 (2 ) (9 ) Income tax (expense) benefit $ 584 $ 446 $ 1,210 In accordance with Staff Accounting Bulletin No. 118 (“SAB 118”), the Company recorded provisional estimates for the income tax effects of the Tax Cuts and Jobs Act (the “Tax Reform Act”) in 2017 and refined those estimates in 2018. The impact of the Tax Reform Act primarily related to the revaluation of deferred tax assets and liabilities. During the second quarter of 2017, the Company agreed to the Internal Revenue Service’s Revenue Agent’s Report for its consolidated 2008 and 2009 Federal corporate income tax returns. The impact on the Company’s financial statements and unrecognized tax benefits was a tax benefit of $221 million . The components of the net deferred income taxes are as follows: As of December 31, 2019 2018 Assets Liabilities Assets Liabilities (in millions) Compensation and related benefits $ 51 $ — $ 47 $ — Net operating loss 44 — 239 — Reserves and reinsurance 944 — 16 — DAC — 716 — 864 Unrealized investment gains (losses) — 639 123 — Investments 640 — 622 — Tax credits — — 314 — Other — 73 14 — Total $ 1,679 $ 1,428 $ 1,375 $ 864 The Company had $314 million of AMT credits for the year ended December 31, 2018 and expects those credits to be currently utilized or refunded. A reconciliation of unrecognized tax benefits (excluding interest and penalties) follows: Years Ended December 31, 2019 2018 2017 (in millions) Balance at January 1, $ 273 $ 205 $ 444 Additions for tax positions of prior years 24 98 28 Reductions for tax positions of prior years — (30 ) (234 ) Settlements with tax authorities — — (33 ) Balance at December 31, $ 297 $ 273 $ 205 Unrecognized tax benefits that, if recognized, would impact the effective rate $ 222 $ 202 $ 172 The Company recognizes accrued interest and penalties related to unrecognized tax benefits in tax expense. Interest and penalties included in the amounts of unrecognized tax benefits at December 31, 2019 and 2018 were $55 million and $41 million , respectively. For 2019 , 2018 and 2017 , respectively, there w ere $14 million , $18 million and $(44) million in interest expense (benefit) related to unrecognized tax benefits. It is reasonably possible that the total amount of unrecognized tax benefits will change within the next 12 months due to the conclusion of IRS proceedings and the addition of new issues for open tax years. The possible change in the amount of unrecognized tax benefits cannot be estimated at this time. As of December 31, 2019 , tax years 2010 and subsequent remain subject to examination by the IRS.

EQUITY

EQUITY	12 Months Ended
	Dec. 31, 2019
Equity [Abstract]
Equity	EQUITY AOCI represents cumulative gains (losses) on items that are not reflected in income (loss). The balances for the past three years follow: December 31, 2019 2018 2017 (in millions) Unrealized gains (losses) on investments (1) $ 1,597 $ (484 ) $ 581 Defined benefit pension plans (2) (5 ) (7 ) (51 ) Total accumulated other comprehensive income (loss) from continuing operations 1,592 (491 ) 530 Less: Accumulated other comprehensive income (loss) attributable to discontinued operations, net of noncontrolling interest — — (68 ) Accumulated other comprehensive income (loss) attributable to Equitable Life $ 1,592 $ (491 ) $ 598 ____________ (1) 2018 includes a $86 million decrease to Accumulated other comprehensive loss from the impact of adoption of ASU 2018-02. (2) 2018 includes a $3 million increase to Accumulated other comprehensive loss from the impact of adoption of ASU 2018-02. The components of OCI, net of taxes for the years ended December 31, 2019 , 2018 and 2017 , net of tax, follow: Years Ended December 31, 2019 2018 2017 (in millions) Change in net unrealized gains (losses) on investments: Net unrealized gains (losses) arising during the year (3) $ 3,052 $ (1,663 ) $ 741 (Gains) losses reclassified to Net income (loss) during the year (1) (160 ) (4 ) 8 Net unrealized gains (losses) on investments 2,892 (1,667 ) 749 Adjustments for policyholders’ liabilities, DAC, insurance liability loss recognition and other (811 ) 437 (165 ) Change in unrealized gains (losses), net of adjustments (net of deferred income tax expense (benefit) of $547, $(310), and $244) 2,081 (1,230 ) 584 Change in defined benefit plans: Reclassification to Net income (loss) of amortization of net prior service credit included in net periodic cost (2) 2 (4 ) (5 ) Change in defined benefit plans (net of deferred income tax expense (benefit) of $0, $0, and $(2)) 2 (4 ) (5 ) Total other comprehensive income (loss), net of income taxes from continuing operations 2,083 (1,234 ) 579 Other comprehensive income (loss) from discontinued operations, net of income taxes (3) — — 23 Other comprehensive income (loss) attributable to Equitable Life $ 2,083 $ (1,234 ) $ 602 ____________ (1) See “Reclassification adjustments” in Note 3 . Reclassification amounts presented net of income tax expense (benefit) of $(43) million , $(1) million and $(5) million for the years ended December 31, 2019 , 2018 and 2017 , respectively. (2) These AOCI components are included in the computation of net periodic costs (see “Employee Benefit Plans” in Note 13 ). Reclassification amounts presented net of income tax expense (benefit) of $0 million , $0 million and $2 million for the years ended December 31, 2019 , 2018 and 2017 , respectively. (3) Includes reclassification related to Discontinued Operations in 2017 . Investment gains and losses reclassified from AOCI to Net income (loss) primarily consist of realized gains (losses) on sales and OTTI of AFS securities and are included in Total investment gains (losses), net on the consolidated statements of income (loss). Amounts reclassified from AOCI to Net income (loss) as related to defined benefit plans primarily consist of amortizations of net (gains) losses and net prior service cost (credit) recognized as a component of net periodic cost and reported in Compensation and benefits in the consolidated statements of income (loss). Amounts presented in the table above are net of tax.

COMMITMENTS AND CONTINGENT LIAB

COMMITMENTS AND CONTINGENT LIABILITIES	12 Months Ended
	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingent Liabilities	COMMITMENTS AND CONTINGENT LIABILITIES Litigation Litigation, regulatory and other loss contingencies arise in the ordinary course of the Company’s activities as a diversified financial services firm. The Company is a defendant in a number of litigation matters arising from the conduct of its business. In some of these matters, claimants seek to recover very large or indeterminate amounts, including compensatory, punitive, treble and exemplary damages. Modern pleading practice permits considerable variation in the assertion of monetary damages and other relief. Claimants are not always required to specify the monetary damages they seek, or they may be required only to state an amount sufficient to meet a court’s jurisdictional requirements. Moreover, some jurisdictions allow claimants to allege monetary damages that far exceed any reasonably possible verdict. The variability in pleading requirements and past experience demonstrates that the monetary and other relief that may be requested in a lawsuit or claim often bears little relevance to the merits or potential value of a claim. Litigation against the Company includes a variety of claims including, among other things, insurers’ sales practices, alleged agent misconduct, alleged failure to properly supervise agents, contract administration, product design, features and accompanying disclosure, cost of insurance increases, payments of death benefits and the reporting and escheatment of unclaimed property, alleged breach of fiduciary duties, alleged mismanagement of client funds and other matters. As with other financial services companies, the Company periodically receives informal and formal requests for information from various state and federal governmental agencies and self-regulatory organizations in connection with inquiries and investigations of the products and practices of the Company or the financial services industry. It is the practice of the Company to cooperate fully in these matters. The outcome of a litigation or regulatory matter is difficult to predict, and the amount or range of potential losses associated with these or other loss contingencies requires significant management judgment. It is not possible to predict the ultimate outcome or to provide reasonably possible losses or ranges of losses for all pending regulatory matters, litigation and other loss contingencies. While it is possible that an adverse outcome in certain cases could have a material adverse effect upon the Company’s financial position, based on information currently known, management believes that neither the outcome of pending litigation and regulatory matters, nor potential liabilities associated with other loss contingencies, are likely to have such an effect. However, given the large and indeterminate amounts sought in certain litigation and the inherent unpredictability of all such matters, it is possible that an adverse outcome in certain of the Company’s litigation or regulatory matters, or liabilities arising from other loss contingencies, could, from time to time, have a material adverse effect upon the Company’s results of operations or cash flows in a particular quarterly or annual period. For some matters, the Company is able to estimate a possible range of loss. For such matters in which a loss is probable, an accrual has been made. For matters where the Company, 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 December 31, 2019 , the Company estimates the aggregate range of reasonably possible losses, in excess of any amounts accrued for these matters as of such date to be up to approximately $100 million . For other matters, the Company is currently not able to estimate the reasonably possible loss or range of loss. The Company is often unable to estimate the possible loss or range of loss until developments in such matters have provided sufficient information to support an assessment of the range of possible loss, such as quantification of a damage demand from plaintiffs, discovery from plaintiffs and other parties, investigation of factual allegations, rulings by a court on motions or appeals, analysis by experts and the progress of settlement discussions. On a quarterly and annual basis, the Company reviews relevant information with respect to litigation and regulatory contingencies and updates the Company’s accruals, disclosures and reasonably possible losses or ranges of loss based on such reviews. In August 2015, a lawsuit was filed in Connecticut Superior Court, Judicial Division of New Haven entitled Richard T. O’Donnell, on behalf of himself and all others similarly situated v. AXA Equitable Life Insurance Company. This lawsuit is a putative class action on behalf of all persons who purchased variable annuities from Equitable Life, which were subsequently subjected to the volatility management strategy and who suffered injury as a result thereof. Plaintiff asserts a claim for breach of contract alleging that Equitable Life implemented the volatility management strategy in violation of applicable law. Plaintiff seeks an award of damages individually and on a class-wide basis, and costs and disbursements, including attorneys’ fees, expert witness fees and other costs. In November 2015, the Connecticut Federal District Court transferred this action to the United States District Court for the Southern District of New York. In March 2017, the Southern District of New York granted Equitable Life’s motion to dismiss the complaint. In April 2017, the plaintiff filed a notice of appeal. In April 2018, the United States Court of Appeals for the Second Circuit reversed the trial court’s decision with instructions to remand the case to Connecticut state court. In September 2018, the Second Circuit issued its mandate, following Equitable Life’s notification to the court that it would not file a petition for writ of certiorari. The case was transferred in December 2018 and is pending in Connecticut Superior Court, Judicial District of Stamford. We are vigorously defending this matter. In February 2016, a lawsuit was filed in the United States District Court for the Southern District of New York entitled Brach Family Foundation, Inc. v. AXA Equitable Life Insurance Company. This lawsuit is a putative class action brought on behalf of all owners of universal life (“UL”) policies subject to Equitable Life’s COI rate increase. In early 2016, Equitable Life raised COI rates for certain UL policies issued between 2004 and 2007, which had both issue ages 70 and above and a current face value amount of $1 million and above. A second putative class action was filed in Arizona in 2017 and consolidated with the Brach matter. The current consolidated amended class action complaint alleges the following claims: breach of contract; misrepresentations by Equitable Life in violation of Section 4226 of the New York Insurance Law; violations of New York General Business Law Section 349; and violations of the California Unfair Competition Law, and the California Elder Abuse Statute. Plaintiffs seek; (a) compensatory damages, costs, and, pre- and post-judgment interest; (b) with respect to their claim concerning Section 4226, a penalty in the amount of premiums paid by the plaintiffs and the putative class; and (c) injunctive relief and attorneys’ fees in connection with their statutory claims. Five other federal actions challenging the COI rate increase are also pending against Equitable Life and have been coordinated with the Brach action for the purposes of pre-trial activities. They contain allegations similar to those in the Brach action as well as additional allegations for violations of various states’ consumer protection statutes and common law fraud. Three actions are also pending against Equitable Life in New York state court. Equitable Life is vigorously defending each of these matters. Obligations under Funding Agreements As a member of the FHLBNY, Equitable Life has access to collateralized borrowings. It also may issue funding agreements to the FHLBNY. Both the collateralized borrowings and funding agreements would require Equitable Life to pledge qualified mortgage-backed assets and/or government securities as collateral. Equitable Life issues short-term funding agreements to the FHLBNY and uses the funds for asset, liability, and cash management purposes. Equitable Life issues long-term funding agreements to the FHLBNY and uses the funds for spread lending purposes. Entering into FHLBNY membership, borrowings and funding agreements requires the ownership of FHLBNY stock and the pledge of assets as collateral. Equitable Life has purchased FHLBNY stock of $322 million and pledged collateral with a carrying value of $9.8 billion as of December 31, 2019 . Funding agreements are reported in Policyholders’ account balances in the consolidated balance sheets. For other instruments used for asset/liability and cash management purposes, see “Derivative and offsetting assets and liabilities” included in Note 4 . The table below summarizes the Company’s activity of funding agreements with the FHLBNY. Change in FHLBNY Funding Agreements during the Years Ended December 31, 2019 and 2018 Outstanding Balance at December 31, 2018 Issued During the Period Repaid During the Period Long-term Agreements Maturing Within One Year Outstanding Balance at December 31, 2019 (in millions) Short-term funding agreements: Due in one year or less $ 1,640 $ 29,330 $ 26,420 $ 58 $ 4,608 Long-term funding agreements: Due in years two through five 1,569 — — 77 1,646 Due in more than five years 781 — — (135 ) 646 Total long-term funding agreements 2,350 — — (58 ) 2,292 Total funding agreements (1) $ 3,990 $ 29,330 $ 26,420 $ — $ 6,900 Outstanding Balance at December 31, 2017 Issued During the Period Repaid During the Period Long-term Agreements Maturing Within One Year Outstanding Balance at December 31, 2018 (in millions) Short-term funding agreements: Due in one year or less $ 500 7,980 $ 6,990 $ 150 $ 1,640 Long-term funding agreements: Due in years two through five 1,621 — — (52 ) 1,569 Due in more than five years 879 — — (98 ) 781 Total long-term funding agreements 2,500 — — (150 ) 2,350 Total funding agreements (1) $ 3,000 $ 7,980 $ 6,990 $ — $ 3,990 ____________ (1) The $9 million , $11 million and $14 million difference between the funding agreements carrying value shown in fair value table for 2019 , 2018 and 2017 , respectively, reflects the remaining amortization of a hedge implemented and closed, which locked in the funding agreements’ borrowing rates. Guarantees and Other Commitments The Company provides certain guarantees or commitments to affiliates and others. At December 31, 2019 , these arrangements include commitments by the Company to provide equity financing of $1 billion (including $225 million with affiliates ) to certain limited partnerships and real estate joint ventures under certain conditions. Management believes the Company will not incur material losses as a result of these commitments. The Company is the obligor under certain structured settlement agreements it had entered into with unaffiliated insurance companies and beneficiaries. To satisfy its obligations under these agreements, the Company owns single premium annuities issued by previously wholly-owned life insurance subsidiaries. The Company has directed payment under these annuities to be made directly to the beneficiaries under the structured settlement agreements. A contingent liability exists with respect to these agreements should the previously wholly-owned subsidiaries be unable to meet their obligations. Management believes the need for the Company to satisfy those obligations is remote. The Company had $17 million of undrawn letters of credit related to reinsurance at December 31, 2019 . The Company had $260 million of commitments under existing mortgage loan agreements at December 31, 2019 . Pursuant to certain assumption agreements (the “Assumption Agreements”), AXA Financial legally assumed primary liability from Equitable Life for all current and future liabilities of Equitable Life under certain employee benefit plans that provide participants with medical, life insurance and deferred compensation benefits as well as under the AXA Equitable Retirement plan, a frozen qualified pension plan. Equitable Life remains secondarily liable for its obligations under these plans and would recognize such liabilities in the event AXA Financial does not perform under the terms of the Assumption Agreements. On October 1, 2018, AXA Financial merged with and into its direct parent, Holdings, with Holdings continuing as the surviving entity. See Note 1 for further information.

INSURANCE GROUP STATUTORY FINAN

INSURANCE GROUP STATUTORY FINANCIAL INFORMATION	12 Months Ended
	Dec. 31, 2019
Insurance Group Statutory Financial Information [Abstract]
Insurance Group Statutory Financial Information	INSURANCE GROUP STATUTORY FINANCIAL INFORMATION For 2019 , 2018 and 2017 , respectively, Equitable Life’s statutory net income (loss) totaled $3.9 billion , $3.1 billion and $748 million . Statutory surplus, Capital stock and Asset Valuation Reserve (“AVR”) totaled $8.7 billion and $7.9 billion at December 31, 2019 and 2018 , respectively. At December 31, 2019 , Equitable Life, in accordance with various government and state regulations, had $58 million of securities on deposit with such government or state agencies. In 2019 , Equitable Life paid to its direct parent which subsequently distributed such amount to Holdings an ordinary shareholder dividend of $1.0 billion . In 2018, Equitable Life paid to its direct parent which subsequently distributed such amount to Holdings an ordinary shareholder dividend of $1.1 billion . Also, in 2018 , Equitable Life transferred its interests in ABLP, AB Holding and the General Partner to Alpha Units Holdings, Inc., a newly formed subsidiary, and distributed the shares of that subsidiary to its direct parent which subsequently distributed such shares to Holdings (the “AB Ownership Transfer”). The AB Ownership transfer was considered an extraordinary dividend of $1.7 billion representing the equity value of Alpha Units Holdings, Inc. In connection with the AB Ownership Transfer, Equitable Life paid an extraordinary cash dividend of $572 million and issued a surplus note to Holdings in the same amount. Equitable Life repaid the outstanding principal balance of the surplus note in March 2019. Dividend Restrictions As a domestic insurance subsidiary regulated by the insurance laws of New York State, Equitable Life is subject to restrictions as to the amounts the Company may pay as dividends and amounts the Company may repay of surplus notes to Holdings. New York State insurance law provides that a stock life insurer may not, without prior approval of the New York State Department of Financial Services (“NYDFS”), pay a dividend to its stockholders exceeding an amount calculated under one of two standards (the “Standards”). The first standard allows payment of an ordinary dividend out of the insurer’s earned surplus (as reported on the insurer’s most recent annual statement) up to a limit calculated pursuant to a statutory formula, provided that the NYDFS is given notice and opportunity to disapprove the dividend if certain qualitative tests are not met (the “Earned Surplus Standard”). The second standard allows payment of an ordinary dividend up to a limit calculated pursuant to a different statutory formula without regard to the insurer’s earned surplus. Dividends exceeding these prescribed limits require the insurer to file a notice of its intent to declare the dividends with the NYDFS and prior approval or non-disapproval from the NYDFS. In applying the Standards, Equitable Life could pay ordinary dividends up to approximately $2.4 billion during 2020. Intercompany Reinsurance The company receives statutory reserve credits for reinsurance treaties with EQ AZ Life Re to the extent EQ AZ Life Re holds assets in an irrevocable trust (the “EQ AZ Life Re Trust”). As of December 31, 2019 , EQ AZ Life Re holds $1.2 billion of assets in the EQ AZ Life Re Trust and letters of credit of $2.1 billion that are guaranteed by Holdings. Under the reinsurance transactions, EQ AZ Life Re is permitted to transfer assets from the EQ AZ Life Re Trust under certain circumstances. The level of statutory reserves held by EQ AZ Life Re fluctuate based on market movements, mortality experience and policyholder behavior. Increasing reserve requirements may necessitate that additional assets be placed in trust and/or additional letters of credit be secured, which could adversely impact EQ AZ Life Re’s liquidity. Prescribed and Permitted Accounting Practices At December 31, 2019 and for the year then ended, there were no differences in net income (loss) and capital and surplus resulting from practices prescribed and permitted by NYDFS and those prescribed by NAIC Accounting Practices and Procedures effective at December 31, 2019 . The Company cedes a portion of their statutory reserves to EQ AZ Life Re , a captive reinsurer, as part of the Company’s capital management strategy. EQ AZ Life Re prepares financial statements in a special purpose framework for statutory reporting. Differences between Statutory Accounting Principles and U.S. GAAP Accounting practices used to prepare statutory financial statements for regulatory filings of stock life insurance companies differ in certain instances from U.S. GAAP. The differences between statutory surplus and capital stock determined in accordance with Statutory Accounting Principles (“SAP”) and total equity under U.S. GAAP are primarily: (a) the inclusion in SAP of an AVR intended to stabilize surplus from fluctuations in the value of the investment portfolio; (b) future policy benefits and policyholders’ account balances under SAP differ from U.S. GAAP due to differences between actuarial assumptions and reserving methodologies; (c) certain policy acquisition costs are expensed under SAP but deferred under U.S. GAAP and amortized over future periods to achieve a matching of revenues and expenses; (d) under SAP, Federal income taxes are provided on the basis of amounts currently payable with limited recognition of deferred tax assets while under U.S. GAAP, deferred taxes are recorded for temporary differences between the financial statements and tax basis of assets and liabilities where the probability of realization is reasonably assured; (e) the valuation of assets under SAP and U.S. GAAP differ due to different investment valuation and depreciation methodologies, as well as the deferral of interest-related realized capital gains and losses on fixed income investments; (f) reporting the surplus notes as a component of surplus in SAP but as a liability in U.S. GAAP; (g) computer software development costs are capitalized under U.S. GAAP but expensed under SAP; (h) certain assets, primarily prepaid assets, are not admissible under SAP but are admissible under U.S. GAAP; and (i) cost of reinsurance which is recognized as expense under SAP and amortized over the life of the underlying reinsured policies under U.S. GAAP.

DISCONTINUED OPERATIONS

DISCONTINUED OPERATIONS	12 Months Ended
	Dec. 31, 2019
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	DISCONTINUED OPERATIONS Distribution of AllianceBernstein to Holdings Effective December 31, 2018, the Company and its subsidiaries transferred all economic interests in the business of AB to a newly created entity, Alpha Unit Holdings, LLC (“Alpha”). The Company distributed all equity interests in Alpha to AXA Equitable Financial Services, LLC, a wholly-owned subsidiary of Holdings. The AB transfer and subsequent distribution of Alpha equity interests (“the AB Business Transfer”) removed the authority to control the business of AB and as such AB’s operations are now reflected as a discontinued operation in the Company’s consolidated financial statements in all periods presented. Prior to the fourth quarter of 2018 , the Company reported the operations of AB as its Investment Management and Research segment. In connection with the transfer, the Company paid an extraordinary dividend in cash to Holdings in the amount of $572 million . The Company also issued a one -year senior surplus note to Holdings for $572 million that was repaid on March 5, 2019. See Note 12 for details of the senior surplus note. Transactions Prior to Distribution Intercompany transactions prior to the AB Business Transfer between the Company and AB were eliminated and excluded from the consolidated statements of income (loss) and consolidated balance sheets. The table below presents AB’s revenues recognized in 2018 and 2017 , disaggregated by category: Years Ended December 31, 2018 2017 (in millions) Investment management, advisory and service fees: Base fees $ 2,156 $ 2,025 Performance-based fees 118 95 Research services 439 450 Distribution services 419 412 Other revenues: Shareholder services 76 75 Other 35 42 Total investment management and service fees $ 3,243 $ 3,099 Transactions Ongoing after Distribution After the AB Business Transfer, services provided by AB will consist primarily of an investment management service agreement and will be included in investment expenses and identified as a related party transaction. Discontinued Operations The following table presents the amounts related to the Net income (loss) of AB that has been reflected in Discontinued operations: Years Ended December 31, 2018 2017 (in millions) REVENUES Net derivative gains (losses) $ 12 $ (24 ) Net investment income (loss) 24 142 Investment management and service fees 3,243 3,099 Other income — — Total revenues $ 3,279 $ 3,217 BENEFITS AND OTHER DEDUCTIONS Compensation and benefits $ 1,370 $ 1,307 Commissions and distribution related payments 427 415 Interest expense 8 6 Other operating costs and expenses 727 789 Total benefits and other deductions 2,532 2,517 Income (loss) from discontinued operations, before income taxes 747 700 Income tax (expense) benefit (69 ) (82 ) Net income (loss) from discontinued operations, net of taxes 678 618 Less: Net (income) loss attributable to the noncontrolling interest (564 ) (533 ) Net income (loss) from discontinued operations, net of taxes and noncontrolling interest $ 114 $ 85

QUARTERLY FINANCIAL INFORMATION

QUARTERLY FINANCIAL INFORMATION (UNAUDITED)	12 Months Ended
	Dec. 31, 2019
Quarterly Financial Data [Abstract]
Quarterly Financial Information (Unaudited)	QUARTERLY FINANCIAL INFORMATION (UNAUDITED) The unaudited quarterly financial information for the years ended December 31, 2019 and 2018 are summarized in the table below: Three Months Ended March 31 June 30 September 30 December 31 (in millions) 2019 Total revenues $ 690 $ 2,071 $ 1,946 $ 441 Total benefits and other deductions $ 1,680 $ 1,753 $ 2,383 $ 1,762 Net income (loss) $ (828 ) $ 265 $ (262 ) $ (1,021 ) 2018 Total revenues $ 1,139 $ 1,621 $ 27 $ 4,164 Total benefits and other deductions $ 1,512 $ 4,278 $ 763 $ 1,879 Net income (loss) $ (264 ) $ (2,084 ) $ (509 ) $ 1,936 Net Income (Loss) Volatility With the exception of the GMxB Unwind during the second quarter of 2018 that is further described in Note 12 , the fluctuation in the Company’s quarterly Net income (loss) during 2019 and 2018 is not due to any specific events or transactions, but instead is driven primarily by the impact of changes in market conditions on the Company’s liabilities associated with GMxB features embedded in its variable annuity products, partially offset by derivatives the Company has in place to mitigate the movement in those liabilities. As those derivatives do not qualify for hedge accounting treatment, volatility in Net income (loss) result from the changes in fair value of the derivatives being recognized in the period in which they occur, with offsetting changes in the liabilities being partially recognized in the current period. An additional source of Net income (loss) volatility is the impact of the Company’s annual actuarial assumption review. See Note 2 , Significant Accounting Policies— Assumption Updates, for further detail of the impact of assumption updates on Net income (loss) in 2019 and 2018. Discontinued Operations In addition, as further described in Note 19 , as a result of the AB Business Transfer effective as of December 31, 2018, AB’s operations are now reflected as Discontinued operations in the Company’s consolidated financial statements. The financial information for prior periods presented in the consolidated financial statements have been adjusted to reflect AB as Discontinued operations.

REDEEMABLE NONCONTROLLING INTER

REDEEMABLE NONCONTROLLING INTEREST	12 Months Ended
	Dec. 31, 2019
Noncontrolling Interest [Abstract]
REDEEMABLE NONCONTROLLING INTEREST	REDEEMABLE NONCONTROLLING INTEREST The changes in the components of redeemable noncontrolling interests were: Years Ended December 31, 2019 2018 2017 (in millions) Balance, beginning of period $ 39 $ 25 $ 10 Net earnings (loss) attributable to redeemable noncontrolling interests 5 (2 ) 1 Purchase/change of redeemable noncontrolling interests (5 ) 16 14 Balance, end of period $ 39 $ 39 $ 25

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2019
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS None.

SCHEDULE I - SUMMARY OF INVESTM

SCHEDULE I - SUMMARY OF INVESTMENTS - OTHER THAN INVESTMENTS IN RELATED PARTIES	12 Months Ended
	Dec. 31, 2019
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Abstract]
Schedule I - Summary of Investments - Other than Investments in Related Parties	SCHEDULE I SUMMARY OF INVESTMENTS—OTHER THAN INVESTMENTS IN RELATED PARTIES AS OF DECEMBER 31, 2019 Cost (1) Fair Value Carrying Value (in millions) Fixed Maturities: U.S. government, agencies and authorities $ 14,385 $ 15,231 $ 14,385 State, municipalities and political subdivisions 584 649 584 Foreign governments 460 490 460 Public utilities 4,618 4,895 4,618 All other corporate bonds 37,729 39,569 37,729 Residential mortgage-backed 161 173 161 Asset-backed 843 844 843 Redeemable preferred stocks 498 511 498 Total fixed maturities 59,278 62,362 59,278 Mortgage loans on real estate (2) 12,090 12,317 12,090 Real estate held for the production of income 27 27 27 Policy loans 3,270 4,199 3,270 Other equity investments 1,149 1,149 1,149 Trading securities 6,376 6,598 6,598 Other invested assets 2,129 2,129 2,129 Total Investments $ 84,319 $ 88,781 $ 84,541 ______________ (1) Cost for fixed maturities represents original cost, reduced by repayments and write-downs and adjusted for amortization of premiums or accretion of discount; cost for equity securities represents original cost reduced by write-downs; cost for other limited partnership interests represents original cost adjusted for equity in earnings and reduced by distributions. (2) Carrying value for mortgage loans on real estate represents original cost adjusted for amortization of premiums or accretion of discount and reduced by valuation allowance.

SCHEDULE IV - REINSURANCE

SCHEDULE IV - REINSURANCE	12 Months Ended
	Dec. 31, 2019
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Abstract]
Schedule IV - Reinsurance	SCHEDULE IV REINSURANCE (1) AS OF AND FOR THE YEARS ENDED DECEMBER 31, 2019 , 2018 AND 2017 Gross Amount Ceded to Other Companies Assumed from Other Companies Net Amount Percentage of Amount Assumed to Net (in millions) 2019 Life insurance in-force $ 392,420 $ 66,770 $ 31,699 $ 357,349 8.9 % Premiums: Life insurance and annuities $ 825 $ 99 $ 185 $ 911 20.3 % Accident and health 43 27 9 25 36.0 % Total Premiums $ 868 $ 126 $ 194 $ 936 20.7 % 2018 Life insurance in-force $ 390,374 $ 69,768 $ 30,322 $ 350,928 8.6 % Premiums: Life insurance and annuities $ 787 $ 128 $ 177 $ 836 21.2 % Accident and health 49 32 9 26 34.6 % Total Premiums $ 836 $ 160 $ 186 $ 862 21.6 % 2017 Life insurance in-force $ 392,926 $ 73,843 $ 30,300 $ 349,383 8.7 % Premiums: Life insurance and annuities $ 826 $ 135 $ 186 $ 877 21.2 % Accident and health 54 36 9 27 33.3 % Total Premiums $ 880 $ 171 $ 195 $ 904 21.6 % ______________ (1) Includes amounts related to the discontinued group life and health business.

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation The preparation of the accompanying consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires management to make estimates and assumptions (including normal, recurring accruals) that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from these estimates. The accompanying consolidated financial statements present the consolidated results of operations, financial condition and cash flows of the Company and its subsidiaries and those investment companies, partnerships and joint ventures in which the Company has control and a majority economic interest as well as those variable interest entities (“VIEs”) that meet the requirements for consolidation. Financial results in the historical consolidated financial statements may not be indicative of the results of operations, comprehensive income (loss), financial position, equity or cash flows that would have been achieved had we operated as a separate, standalone entity during the reporting periods presented. We believe that the consolidated financial statements include all adjustments necessary for a fair presentation of the results of operations of the Company. All significant intercompany transactions and balances have been eliminated in consolidation. The years “ 2019 ”, “ 2018 ” and “ 2017 ” refer to the years ended December 31, 2019 , 2018 and 2017 , respectively.
Adoption of New and Future Accounting Pronouncements	Adoption of New Accounting Pronouncements Description Effect on the Financial Statement or Other Significant Matters ASU 2016-02: Leases (Topic 842) This ASU contains revised guidance to lease accounting that requires lessees to recognize on the balance sheet a “right-of-use” asset and a lease liability for virtually all lease arrangements, including those embedded in other contracts. Lessor accounting remains substantially unchanged from the current model but has been updated to align with certain changes made to the lessee model. On January 1, 2019, the Company adopted the new leases standard using the simplified modified retrospective transition method, as of the adoption date. Prior comparable periods were not adjusted or presented under this method. We applied several practical expedients offered by ASC 842 upon adoption of this standard. These included continuing to account for existing leases based on judgment made under legacy U.S. GAAP as it relates to determining classification of leases, unamortized initial direct costs and whether contracts are leases or contain leases. We also used the practical expedient to use hindsight in determining lease terms (using knowledge and expectations as of the standard’s adoption date instead of the previous assumptions under legacy U.S. GAAP) and evaluated impairment of our right-of-use (“RoU”) assets in the transition period (using most up-to-date information.) Adoption of this standard resulted in the recognition, as of January 1, 2019, of additional RoU operating lease assets of $347 million reported in Other assets and operating lease liabilities of $439 million reported in Other liabilities in accompanying consolidated balance sheets. The operating RoU assets recognized as of January 1, 2019 are net of deferred rent of $58 million and liabilities associated with previously recognized impairments of $34 million. See Note 10 for additional information. ASU 2017-08: Receivables—Nonrefundable Fees and Other Costs (Subtopic 310-20) This ASU requires certain premiums on callable debt securities to be amortized to the earliest call date and is intended to better align interest income recognition with the manner in which market participants price these instruments. On January 1, 2019, the Company adopted the new guidance on accounting for certain premiums on callable debt securities. As the Company’s existing accounting practices aligned with the guidance in the ASU, adoption of the new standard did not have a material impact on the Company’s consolidated financial statements. ASU 2017-12: Derivatives and Hedging (Topic 815), as clarified and amended by ASU 2019-04: Codification Improvements to Topic 326, Financial Instruments—Credit Losses; Topic 815, Derivatives and Hedging; and Topic 825, Financial Instruments The amendments in these ASUs better align an entity’s risk management activities and financial reporting for hedging relationships through changes to both the designation and measurement guidance for qualifying hedging relationships and the presentation of hedge results. On January 1, 2019, the Company adopted the new hedging guidance. Adoption of this guidance did not have a material impact on the Company’s consolidated financial statements. Future Adoption of New Accounting Pronouncements Description Effective Date and Method of Adoption Effect on the Financial Statement or Other Significant Matters ASU 2016-13: Financial Instruments—Credit Losses (Topic 326), as clarified and amended by ASU 2018-19: Codification Improvements to Topic 326, Financial Instruments—Credit Losses, ASU 2019-04: Codification Improvements to Topic 326, Financial Instruments—Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments and ASU 2019-05: Financial Instruments—Credit Losses (Topic 326) Targeted Transition Relief, ASU 2019-11 : Codification Improvements to Topic 326, Financial Instruments-Credit Losses ASU 2016-13 contains new guidance which introduces an approach based on expected losses to estimate credit losses on certain types of financial instruments. It also modifies the impairment model for available-for-sale debt securities and provides for a simplified accounting model for purchased financial assets with credit deterioration since their origination. ASU 2018-19, ASU 2019-04 and ASU 2019-11, clarified the codification guidance and did not materially change the standard. Effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. These amendments should be applied through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. The Company will implement its updated expected credit loss models, processes and controls related to the identified financial assets that fall within the scope of the new standard as of the date of adoption, January 1, 2020. Management currently anticipates that the standard will have the most impact to its commercial and agricultural mortgage loan portfolios. Based on current economic conditions, the structure and size of the Company’s loan portfolio and other assets impacted by the standard as of December 31, 2019, the Company expects application of the current expected credit loss requirements will result in an immaterial reduction to retained earnings as of the date of adoption. Description Effective Date and Method of Adoption Effect on the Financial Statement or Other Significant Matters ASU 2018-12: Financial Services - Insurance (Topic 944); ASU 2019-09: Financial Services - Insurance (Topic 944): Effective Date This ASU provides targeted improvements to existing recognition, measurement, presentation, and disclosure requirements for long-duration contracts issued by an insurance entity. The ASU primarily impacts four key areas, including: Measurement of the liability for future policy benefits for traditional and limited payment contracts. The ASU requires companies to review, and if necessary, update, cash flow assumptions at least annually for non-participating traditional and limited-payment insurance contracts. Interest rates used to discount the liability will need to be updated quarterly using an upper medium grade (low credit risk) fixed-income instrument yield. Measurement of market risk benefits (“MRBs”). MRBs, as defined under the ASU, will encompass certain GMxB features associated with variable annuity products and other general account annuities with other than nominal market risk. The ASU requires MRBs to be measured at fair value with changes in value attributable to changes in instrument-specific credit risk recognized in OCI. Amortization of deferred policy acquisition costs. The ASU simplifies the amortization of deferred policy acquisition costs and other balances amortized in proportion to premiums, gross profits, or gross margins, requiring such balances to be amortized on a constant level basis over the expected term of the contracts. Deferred costs will be required to be written off for unexpected contract terminations but will not be subject to impairment testing. Expanded footnote disclosures. The ASU requires additional disclosures including disaggregated rollforwards of beginning to ending balances of the liability for future policy benefits, policyholder account balances, MRBs, Separate Account liabilities and deferred policy acquisition costs. Companies will also be required to disclose information about significant inputs, judgements, assumptions and methods used in measurement. In November 2019, ASU 2019-09 was issued which modified ASU 2018-12 to be effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2021. Early adoption is permitted. For the liability for future policyholder benefits for traditional and limited payment contracts, companies can elect one of two adoption methods. Companies can either elect a modified retrospective transition method applied to contracts in force as of the beginning of the earliest period presented on the basis of their existing carrying amounts, adjusted for the removal of any related amounts in AOCI or a full retrospective transition method using actual historical experience information as of contract inception. The same adoption method must be used for deferred policy acquisition costs. For MRBs, the ASU should be applied retrospectively as of the beginning of the earliest period presented. For deferred policy acquisition costs, companies can elect one of two adoption methods. Companies can either elect a modified retrospective transition method applied to contracts in force as of the beginning of the earliest period presented on the basis of their existing carrying amounts, adjusted for the removal of any related amounts in AOCI or a full retrospective transition method using actual historical experience information as of contract inception. The same adoption method must be used for the liability for future policyholder benefits for traditional and limited payment contracts. The Company is currently evaluating the impact that adoption of this guidance will have on the Company’s consolidated financial statements, however the adoption of the ASU is expected to have a significant impact on the Company’s consolidated financial condition, results of operations, cash flows and required disclosures, as well as processes and controls. Description Effective Date and Method of Adoption Effect on the Financial Statement or Other Significant Matters ASU 2018-13: Fair Value Measurement (Topic 820) This ASU improves the effectiveness of fair value disclosures in the notes to financial statements. Amendments in this ASU modify disclosure requirements in Topic 820, including the removal, modification and addition to existing disclosure requirements. Effective for fiscal years beginning after December 15, 2019. Early adoption is permitted, with the option to early adopt amendments to remove or modify disclosures, with full adoption of additional disclosure requirements delayed until the stated effective date. Amendments on changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty should be applied prospectively. All other amendments should be applied retrospectively. The Company elected to early adopt during 2019 the removed disclosures relating to transfers between Level 1 and Level 2 of the fair value hierarchy, the policy for timing of transfers between levels and valuation processes for Level 3 fair value measurements. The Company will delay adoption of the additional disclosures until their effective date on January 1, 2020. ASU 2018-17: Consolidation (Topic 810): Targeted Improvements to Related Party Guidance for Variable Interest Entities This ASU provides guidance requiring that indirect interests held through related parties in common control arrangements be considered on a proportional basis for determining whether fees paid to decision makers and service providers are variable interests. Effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. Early adoption is permitted. All entities are required to apply the amendments in this update retrospectively with a cumulative-effect adjustment to retained earnings at the beginning of the earliest period presented. The Company will adopt this new standard effective for January 1, 2020. Management does not expect the adoption of this standard to materially impact the Company’s financial position or results of operations. ASU 2019-12: Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes This ASU simplifies the accounting for income taxes by removing certain exceptions to the general principles in Topic 740, as well as clarifying and amending existing guidance. Effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. Early adoption is permitted. The Company is currently evaluating the impact adopting the guidance will have on the company’s consolidated financial statements, however the adoption is not expected to materially impact the Company’s financial position, results of operations, or cash flows.
Investments	Investments The carrying values of fixed maturities classified as available-for-sale (“AFS”) are reported at fair value. Changes in fair value are reported in other comprehensive income (“OCI”). The amortized cost of fixed maturities is adjusted for impairments in value deemed to be other than temporary which are recognized in Investment gains (losses), net. The redeemable preferred stock investments that are reported in fixed maturities include real estate investment trusts (“REIT”), perpetual preferred stock and redeemable preferred stock. These securities may not have a stated maturity, may not be cumulative and do not provide for mandatory redemption by the issuer. The Company determines the fair values of fixed maturities and equity securities based upon quoted prices in active markets, when available, or through the use of alternative approaches when market quotes are not readily accessible or available. These alternative approaches include matrix or model pricing and use of independent pricing services, each supported by reference to principal market trades or other observable market assumptions for similar securities. More specifically, the matrix pricing approach to fair value is a discounted cash flow methodology that incorporates market interest rates commensurate with the credit quality and duration of the investment. The Company’s management, with the assistance of its investment advisors, monitors the investment performance of its portfolio and reviews AFS securities with unrealized losses for other-than-temporary impairments (“OTTI”). Integral to this review is an assessment made each quarter, on a security-by-security basis, by the Company’s Investments Under Surveillance (“IUS”) Committee, of various indicators of credit deterioration to determine whether the investment security is expected to recover. This assessment includes, but is not limited to, consideration of the duration and severity of the unrealized loss, failure, if any, of the issuer of the security to make scheduled payments, actions taken by rating agencies, adverse conditions specifically related to the security or sector, the financial strength, liquidity and continued viability of the issuer. If there is no intent to sell or likely requirement to dispose of the fixed maturity security before its recovery, only the credit loss component of any resulting OTTI is recognized in income (loss) and the remainder of the fair value loss is recognized in OCI. The amount of credit loss is the shortfall of the present value of the cash flows expected to be collected as compared to the amortized cost basis of the security. The present value is calculated by discounting management’s best estimate of projected future cash flows at the effective interest rate implicit in the debt security at the date of acquisition. Projections of future cash flows are based on assumptions regarding probability of default and estimates regarding the amount and timing of recoveries. These assumptions and estimates require use of management judgment and consider internal credit analyses as well as market observable data relevant to the collectability of the security. For mortgage and asset-backed securities, projected future cash flows also include assumptions regarding prepayments and underlying collateral value. Real estate held for the production of income is stated at depreciated cost less valuation allowances. Depreciation of real estate held for production of income is computed using the straight-line method over the estimated useful lives of the properties, which generally range from 40 to 50 years. Policy loans represent funds loaned to policyholders up to the cash surrender value of the associated insurance policies and are carried at the unpaid principal balances due to the Company from the policyholders. Interest income on policy loans is recognized in net investment income at the contract interest rate when earned. Policy loans are fully collateralized by the cash surrender value of the associated insurance policies. Partnerships, investment companies and joint venture interests that the Company has control of and has an economic interest in or those that meet the requirements for consolidation under accounting guidance for consolidation of VIEs are consolidated. Those that the Company does not have control of and does not have a majority economic interest in and those that do not meet the VIE requirements for consolidation are reported on the equity method of accounting and are reported in other equity investments. The Company records its interests in certain of these partnerships on a one month or one-quarter lag. Trading securities, which include equity securities and fixed maturities, are carried at fair value based on quoted market prices, with realized and unrealized gains (losses) reported in net investment income (loss) in the consolidated statements of income (loss). Corporate owned life insurance (“COLI”) has been purchased by the Company and certain subsidiaries on the lives of certain key employees and the Company and these subsidiaries are named as beneficiaries under these policies. COLI is carried at the cash surrender value of the policies. At December 31, 2019 and 2018 , the carrying value of COLI was $942 million and $873 million , respectively, and is reported in Other invested assets in the consolidated balance sheets. Cash and cash equivalents includes cash on hand, demand deposits, money market accounts, overnight commercial paper and highly liquid debt instruments purchased with an original maturity of three months or less. Due to the short-term nature of these investments, the recorded value is deemed to approximate fair value. All securities owned, including U.S. government and agency securities, mortgage-backed securities, futures and forwards transactions, are reported in the consolidated financial statements on a trade-date basis.
Derivatives	Derivatives Derivatives are financial instruments whose values are derived from interest rates, foreign exchange rates, financial indices, values of securities or commodities, credit spreads, market volatility, expected returns and liquidity. Values can also be affected by changes in estimates and assumptions, including those related to counterparty behavior and non-performance risk used in valuation models. Derivative financial instruments generally used by the Company include equity, currency, and interest rate futures, total return and/or other equity swaps, interest rate swaps and floors, swaptions, variance swaps and equity options, all of which may be exchange-traded or contracted in the over-the-counter market. All derivative positions are carried in the consolidated balance sheets at fair value, generally by obtaining quoted market prices or through the use of valuation models. Freestanding derivative contracts are reported in the consolidated balance sheets either as assets within Other invested assets or as liabilities within Other liabilities. The Company nets the fair value of all derivative financial instruments with counterparties for which an International Swaps and Derivatives Association Master Agreement (“ISDA Master Agreement”) and related Credit Support Annex (“CSA”) have been executed. The Company uses derivatives to manage asset/liability risk and has designated some of those economic relationships under the criteria to qualify for hedge accounting treatment. All changes in the fair value of the Company’s freestanding derivative positions not designated to hedge accounting relationships, including net receipts and payments, are included in Net derivative gains (losses) without considering changes in the fair value of the economically associated assets or liabilities. The Company is a party to financial instruments and other contracts that contain “embedded” derivative instruments. At inception, the Company assesses whether the economic characteristics of the embedded instrument are “clearly and closely related” to the economic characteristics of the remaining component of the “host contract” and whether a separate instrument with the same terms as the embedded instrument would meet the definition of a derivative instrument. When those criteria are satisfied, the resulting embedded derivative is bifurcated from the host contract, carried in the consolidated balance sheets at fair value, and changes in its fair value are recognized immediately and captioned in the consolidated statements of income (loss) according to the nature of the related host contract. For certain financial instruments that contain an embedded derivative that otherwise would need to be bifurcated and reported at fair value, the Company instead may elect to carry the entire instrument at fair value.
Securities Repurchase and Reverse Repurchase Agreements	Securities Repurchase and Reverse Repurchase Agreements Securities repurchase and reverse repurchase transactions involve the temporary exchange of securities for cash or other collateral of equivalent value, with agreement to redeliver a like quantity of the same or similar securities at a future date prior to maturity at a fixed and determinable price. Transfers of securities under these agreements to repurchase or resell are evaluated by the Company to determine whether they satisfy the criteria for accounting treatment as secured borrowing or lending arrangements. Agreements not meeting the criteria would require recognition of the transferred securities as sales or purchases with related forward repurchase or resale commitments. All of the Company’s securities repurchase transactions are accounted for as collateralized borrowings with the related obligations distinctly captioned in the consolidated balance sheets. Earnings from investing activities related to the cash received under the Company’s securities repurchase arrangements are reported in the consolidated statements of income (loss) as Net investment income and the associated borrowing cost is reported as Interest expense. The Company has not actively engaged in securities reverse repurchase transactions.
Commercial and Agricultural Mortgage Loans on Real Estate	Commercial and Agricultural Mortgage Loans on Real Estate Mortgage loans are stated at unpaid principal balances, net of unamortized discounts, premiums and valuation allowances. Valuation allowances are based on the present value of expected future cash flows discounted at the loan’s original effective interest rate or on its collateral value if the loan is collateral dependent. However, if foreclosure is or becomes probable, the collateral value measurement method is used. For commercial and agricultural mortgage loans, an allowance for credit loss is typically recommended when management believes it is probable that principal and interest will not be collected according to the contractual terms. Factors that influence management’s judgment in determining allowance for credit losses include the following: • Loan-to-value ratio – Derived from current loan balance divided by the fair market value of the property. An allowance for credit loss is typically recommended when the loan-to-value ratio is in excess of 100% . In the case where the loan-to-value is in excess of 100% , the allowance for credit loss is derived by taking the difference between the fair market value (less cost of sale) and the current loan balance. • Debt service coverage ratio – Derived from actual operating earnings divided by annual debt service. If the ratio is below 1.0 x, then the income from the property does not support the debt. • Occupancy – Criteria varies by property type but low or below market occupancy is an indicator of sub-par property performance. • Lease expirations – The percentage of leases expiring in the upcoming 12 to 36 months are monitored as a decline in rent and/or occupancy may negatively impact the debt service coverage ratio. In the case of single-tenant properties or properties with large tenant exposure, the lease expiration is a material risk factor. • Maturity – Mortgage loans that are not fully amortizing and have upcoming maturities within the next 12 to 24 months are monitored in conjunction with the capital markets to determine the borrower’s ability to refinance the debt and/or pay off the balloon balance. • Borrower/tenant related issues – Financial concerns, potential bankruptcy or words or actions that indicate imminent default or abandonment of property. • Payment status (current vs. delinquent) – A history of delinquent payments may be a cause for concern. • Property condition – Significant deferred maintenance observed during the lenders annual site inspections. • Other – Any other factors such as current economic conditions may call into question the performance of the loan. Mortgage loans also are individually evaluated quarterly by the Company’s IUS Committee for impairment, including an assessment of related collateral value. Commercial mortgages 60 days or more past due and agricultural mortgages 90 days or more past due, as well as all mortgages in the process of foreclosure, are identified as problem mortgages. Based on its monthly monitoring of mortgages, a class of potential problem mortgages are also identified, consisting of mortgage loans not currently classified as problem mortgages but for which management has doubts as to the ability of the borrower to comply with the present loan payment terms and which may result in the loan becoming a problem or being restructured. The decision whether to classify a performing mortgage loan as a potential problem involves significant subjective judgments by management as to likely future industry conditions and developments with respect to the borrower or the individual mortgaged property. For problem mortgage loans, a valuation allowance is established to provide for the risk of credit losses inherent in the lending process. The allowance includes loan specific reserves for mortgage loans determined to be non-performing as a result of the loan review process. A non-performing loan is defined as a loan for which it is probable that amounts due according to the contractual terms of the loan agreement will not be collected. The loan-specific portion of the loss allowance is based on the Company’s assessment as to ultimate collectability of loan principal and interest. Valuation allowances for a non-performing loan are recorded based on the present value of expected future cash flows discounted at the loan’s effective interest rate or based on the fair value of the collateral if the loan is collateral dependent. The valuation allowance for mortgage loans can increase or decrease from period to period based on such factors. Impaired mortgage loans without provision for losses are mortgage loans where the fair value of the collateral or the net present value of the expected future cash flows related to the loan equals or exceeds the recorded investment. Interest income earned on mortgage loans where the collateral value is used to measure impairment is recorded on a cash basis. Interest income on mortgage loans where the present value method is used to measure impairment is accrued on the net carrying value amount of the loan at the interest rate used to discount the cash flows. Changes in the present value attributable to changes in the amount or timing of expected cash flows are reported as Investment gains (losses), net. Mortgage loans are placed on nonaccrual status once management believes the collection of accrued interest is doubtful. Once mortgage loans are classified as nonaccrual mortgage loans, interest income is recognized under the cash basis of accounting and the resumption of the interest accrual would commence only after all past due interest has been collected or the mortgage loan has been restructured to where the collection of interest is considered likely.
Net Investment Income (Loss), Investment Gains (Losses), Net and Unrealized Investment Gains (Losses)	Net Investment Income (Loss), Investment Gains (Losses), Net and Unrealized Investment Gains (Losses) Realized investment gains (losses) are determined by identification with the specific asset and are presented as a component of revenue. Changes in the valuation allowances are included in Investment gains (losses), net. Realized and unrealized holding gains (losses) on trading and equity securities are reflected in Net investment income (loss). Unrealized investment gains (losses) on fixed maturities designated as AFS held by the Company are accounted for as a separate component of AOCI, net of related deferred income taxes, as are amounts attributable to certain pension operations, Closed Block’s policyholders’ dividend obligation, insurance liability loss recognition, DAC related to UL policies, investment-type products and participating traditional life policies. Changes in unrealized gains (losses) reflect changes in fair value of only those fixed maturities classified as AFS and do not reflect any change in fair value of policyholders’ account balances and future policy benefits.
Fair Value of Financial Instruments	Fair Value of Financial Instruments Fair value is defined as the exchange price that would be received for 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. See Note 7 for additional information regarding determining the fair value of financial instruments.
Recognition of Insurance Income and Related Expenses	Recognition of Insurance Income and Related Expenses Deposits related to universal life (“UL”) and investment-type contracts are reported as deposits to policyholders’ account balances. Revenues from these contracts consist of fees assessed during the period against policyholders’ account balances for mortality charges, policy administration charges and surrender charges. Policy benefits and claims that are charged to expense include benefit claims incurred in the period in excess of related policyholders’ account balances. Premiums from participating and non-participating traditional life and annuity policies with life contingencies generally are recognized in income when due. Benefits and expenses are matched with such income so as to result in the recognition of profits over the life of the contracts. This match is accomplished by means of the provision for liabilities for future policy benefits and the deferral and subsequent amortization of DAC. For contracts with a single premium or a limited number of premium payments due over a significantly shorter period than the total period over which benefits are provided, premiums are recorded as revenue when due with any excess profit deferred and recognized in income in a constant relationship to insurance in-force or, for annuities, the amount of expected future benefit payments. Premiums from individual health contracts are recognized as income over the period to which the premiums relate in proportion to the amount of insurance protection provided.
DAC	DAC Acquisition costs that vary with and are primarily related to the acquisition of new and renewal insurance business, reflecting incremental direct costs of contract acquisition with independent third parties or employees that are essential to the contract transaction, as well as the portion of employee compensation, including payroll fringe benefits and other costs directly related to underwriting, policy issuance and processing, medical inspection, and contract selling for successfully negotiated contracts including commissions, underwriting, agency and policy issue expenses, are deferred. In each reporting period, DAC amortization, net of the accrual of imputed interest on DAC balances, is recorded to Amortization of deferred policy acquisition costs. DAC is subject to recoverability testing at the time of policy issue and loss recognition testing at the end of each accounting period. The determination of DAC, including amortization and recoverability estimates, is based on models that involve numerous assumptions and subjective judgments, including those regarding policyholder behavior, surrender and withdrawal rates, mortality experience, and other inputs including financial market volatility and market rates of return. After the initial establishment of reserves, premium deficiency and loss recognition tests are performed each period end using best estimate assumptions as of the testing date without provisions for adverse deviation. When the liabilities for future policy benefits plus the present value of expected future gross premiums for the aggregate product group are insufficient to provide for expected future policy benefits and expenses for that line of business (i.e., reserves net of any DAC asset), DAC would first be written off and thereafter, if required, a premium deficiency reserve would be established by a charge to earnings. Amortization Policy In accordance with the guidance for the accounting and reporting by insurance enterprises for certain long-duration contracts and participating contracts and for realized gains and losses from the sale of investments, current and expected future profit margins for products covered by this guidance are examined regularly in determining the amortization of DAC. DAC associated with certain variable annuity products is amortized based on estimated assessments, with DAC on the remainder of variable annuities, UL and investment-type products amortized over the expected total life of the contract group as a constant percentage of estimated gross profits arising principally from investment results, Separate Accounts fees, mortality and expense margins and surrender charges based on historical and anticipated future experience, embedded derivatives and changes in the reserve of products that have indexed features such as SCS IUL and MSO, updated at the end of each accounting period. When estimated gross profits are expected to be negative for multiple years of a contract life, DAC is amortized using the present value of estimated assessments. The effect on the amortization of DAC of revisions to estimated gross profits or assessments is reflected in earnings (loss) in the period such estimated gross profits or assessments are revised. A decrease in expected gross profits or assessments would accelerate DAC amortization. Conversely, an increase in expected gross profits or assessments would slow DAC amortization. The effect on the DAC assets that would result from realization of unrealized gains (losses) is recognized with an offset to AOCI in consolidated equity as of the balance sheet date. A significant assumption in the amortization of DAC on variable annuities and, to a lesser extent, on variable and interest-sensitive life insurance relates to projected future Separate Account performance. Management sets estimated future gross profit or assessment assumptions related to Separate Account performance using a long-term view of expected average market returns by applying a Reversion to the Mean (“RTM”) approach, a commonly used industry practice. This future return approach influences the projection of fees earned, as well as other sources of estimated gross profits. Returns that are higher than expectations for a given period produce higher than expected account balances, increase the fees earned resulting in higher expected future gross profits and lower DAC amortization for the period. The opposite occurs when returns are lower than expected. In applying this approach to develop estimates of future returns, it is assumed that the market will return to an average gross long-term return estimate, developed with reference to historical long-term equity market performance. Management has set limitations as to maximum and minimum future rate of return assumptions, as well as a limitation on the duration of use of these maximum or minimum rates of return. At December 31, 2019 , the average gross short-term and long-term annual return estimate on variable and interest-sensitive life insurance and variable annuities was 7.0% ( 4.7% net of product weighted average Separate Accounts fees), and the gross maximum and minimum short-term annual rate of return limitations were 15.0% ( 12.7% net of product weighted average Separate Accounts fees) and 0.0% ( 2.3% net of product weighted average Separate Accounts fees), respectively. The maximum duration over which these rate limitations may be applied is five years. This approach will continue to be applied in future periods. These assumptions of long-term growth are subject to assessment of the reasonableness of resulting estimates of future return assumptions. In addition, projections of future mortality assumptions related to variable and interest-sensitive life products are based on a long-term average of actual experience. This assumption is updated periodically to reflect recent experience as it emerges. Improvement of life mortality in future periods from that currently projected would result in future deceleration of DAC amortization. Conversely, deterioration of life mortality in future periods from that currently projected would result in future acceleration of DAC amortization. Other significant assumptions underlying gross profit estimates for UL and investment type products relate to contract persistency and General Account investment spread. For participating traditional life policies (substantially all of which are in the Closed Block), DAC is amortized over the expected total life of the contract group as a constant percentage based on the present value of the estimated gross margin amounts expected to be realized over the life of the contracts using the expected investment yield. At December 31, 2019 , the average rate of assumed investment yields, excluding policy loans, for the Company was 4.6% grading to 4.3% over six years. Estimated gross margins include anticipated premiums and investment results less claims and administrative expenses, changes in the net level premium reserve and expected annual policyholder dividends. The effect on the accumulated amortization of DAC of revisions to estimated gross margins is reflected in earnings in the period such estimated gross margins are revised. The effect on the DAC assets that would result from realization of unrealized gains (losses) is recognized with an offset to AOCI in consolidated equity as of the balance sheet date. Many of the factors that affect gross margins are included in the determination of the Company’s dividends to these policyholders. DAC adjustments related to participating traditional life policies do not create significant volatility in results of operations as the Closed Block recognizes a cumulative policyholder dividend obligation expense in “Policyholders’ dividends,” for the excess of actual cumulative earnings over expected cumulative earnings as determined at the time of demutualization. DAC associated with non-participating traditional life policies are amortized in proportion to anticipated premiums. Assumptions as to anticipated premiums are estimated at the date of policy issue and are consistently applied during the life of the contracts. Deviations from estimated experience are reflected in income (loss) in the period such deviations occur. For these contracts, the amortization periods generally are for the total life of the policy. DAC related to these policies are subject to recoverability testing as part of the Company’s premium deficiency testing. If a premium deficiency exists, DAC are reduced by the amount of the deficiency or to zero through a charge to current period earnings (loss). If the deficiency exceeds the DAC balance, the reserve for future policy benefits is increased by the excess, reflected in earnings (loss) in the period such deficiency occurs. For some products, policyholders can elect to modify product benefits, features, rights or coverages that occur by the exchange of a contract for a new contract, or by amendment, endorsement, or rider to a contract, or by election or coverage within a contract. These transactions are known as internal replacements. If such modification substantially changes the contract, the associated DAC is written off immediately through income and any new deferrable costs associated with the replacement contract are deferred. If the modification does not substantially change the contract, the DAC amortization on the original contract will continue and any acquisition costs associated with the related modification are expensed. Reinsurance For each of its reinsurance agreements, the Company determines whether the agreement provides indemnification against loss or liability relating to insurance risk in accordance with applicable accounting standards. Cessions under reinsurance agreements do not discharge the Company’s obligations as the primary insurer. The Company reviews all contractual features, including those that may limit the amount of insurance risk to which the reinsurer is subject or features that delay the timely reimbursement of claims. For reinsurance of existing in-force blocks of long-duration contracts that transfer significant insurance risk, the difference, if any, between the amounts paid (received), and the liabilities ceded (assumed) related to the underlying contracts is considered the net cost of reinsurance at the inception of the reinsurance agreement. The net cost of reinsurance is recorded as an adjustment to DAC and recognized as a component of other expenses on a basis consistent with the way the acquisition costs on the underlying reinsured contracts would be recognized. Subsequent amounts paid (received) on the reinsurance of in-force blocks, as well as amounts paid (received) related to new business, are recorded as Premiums ceded (assumed); and Amounts due from reinsurers (Amounts due to reinsurers) are established. Assets and liabilities relating to reinsurance agreements with the same reinsurer may be recorded net on the balance sheet, if a right of offset exists within the reinsurance agreement. In the event that reinsurers do not meet their obligations to the Company under the terms of the reinsurance agreements, reinsurance recoverable balances could become uncollectible. In such instances, reinsurance recoverable balances are stated net of allowances for uncollectible reinsurance. Premiums, Policy charges and fee income and Policyholders’ benefits include amounts assumed under reinsurance agreements and are net of reinsurance ceded. Amounts received from reinsurers for policy administration are reported in other revenues. With respect to GMIBs, a portion of the directly written GMIBs are accounted for as insurance liabilities, but the associated reinsurance agreements contain embedded derivatives. These embedded derivatives are included in GMIB reinsurance contract asset, at fair value with changes in estimated fair value reported in Net derivative gains (losses). If the Company determines that a reinsurance agreement does not expose the reinsurer to a reasonable possibility of a significant loss from insurance risk, the Company records the agreement using the deposit method of accounting. Deposits received are included in Other liabilities and deposits made are included within premiums, reinsurance and other receivables. As amounts are paid or received, consistent with the underlying contracts, the deposit assets or liabilities are adjusted. Interest on such deposits is recorded as other revenues or other expenses, as appropriate. Periodically, the Company evaluates the adequacy of the expected payments or recoveries and adjusts the deposit asset or liability through other revenues or other expenses, as appropriate. For reinsurance contracts other than those accounted for as derivatives, reinsurance recoverable balances are calculated using methodologies and assumptions that are consistent with those used to calculate the direct liabilities.
Policyholder Bonus Interest Credits	Policyholder Bonus Interest Credits Policyholder bonus interest credits are offered on certain deferred annuity products in the form of either immediate bonus interest credited or enhanced interest crediting rates for a period of time. The interest crediting expense associated with these policyholder bonus interest credits is deferred and amortized over the lives of the underlying contracts in a manner consistent with the amortization of DAC. Unamortized balances are included in Other assets in the consolidated balance sheets and amortization is included in Interest credited to policyholders’ account balances in the consolidated statements of income (loss).
Policyholders' Account Balances and Future Policy Benefits	Policyholders’ Account Balances and Future Policy Benefits Policyholders’ account balances relate to contracts or contract features where the Company has no significant insurance risk. This liability represents the contract value that has accrued to the benefit of the policyholder as of the balance sheet date. For participating traditional life insurance policies, future policy benefit liabilities are calculated using a net level premium method on the basis of actuarial insurance assumptions equal to guaranteed mortality and dividend fund interest rates. The liability for annual dividends represents the accrual of annual dividends earned. Terminal dividends are accrued in proportion to gross margins over the life of the contract. For non-participating traditional life insurance policies, future policy benefit liabilities are estimated using a net level premium method on the basis of actuarial assumptions as to mortality, persistency and interest established at policy issue. Assumptions established at policy issue as to mortality and persistency are based on the Company’s experience that, together with interest and expense assumptions, includes a margin for adverse deviation. Benefit liabilities for traditional annuities during the accumulation period are equal to accumulated policyholders’ fund balances and, after annuitization, are equal to the present value of expected future payments. Interest rates used in establishing such liabilities range from 4.5% to 6.3% (weighted average of 5.0% ) for approximately 99.2% of life insurance liabilities and from 1.5% to 5.5% (weighted average of 4.1% ) for annuity liabilities. Individual health benefit liabilities for active lives are estimated using the net level premium method and assumptions as to future morbidity, withdrawals and interest. Benefit liabilities for disabled lives are estimated using the present value of benefits method and experience assumptions as to claim terminations, expenses and interest. While management believes its disability income (“DI”) reserves have been calculated on a reasonable basis and are adequate, there can be no assurance reserves will be sufficient to provide for future liabilities. When the liabilities for future policy benefits plus the present value of expected future gross premiums for a product are insufficient to provide for expected future policy benefits and expenses for that product, DAC is written off and thereafter, if required, a premium deficiency reserve is established by a charge to earnings. Obligations arising from funding agreements are also reported in Policyholders’ account balances in the consolidated balance sheets. As a member of the Federal Home Loan Bank of New York (“FHLBNY”), the Company has access to collateralized borrowings. The Company may also issue funding agreements to the FHLBNY. Both the collateralized borrowings and funding agreements would require the Company to pledge qualified mortgage-backed assets and/or government securities as collateral. The Company has issued and continues to offer certain variable annuity products with guaranteed minimum death benefits (“GMDB”) and/or contain a guaranteed minimum living benefit (“GMLB,” and together with GMDB, the “GMxB features”) which, if elected by the policyholder after a stipulated waiting period from contract issuance, guarantees a minimum lifetime annuity based on predetermined annuity purchase rates that may be in excess of what the contract account value can purchase at then-current annuity purchase rates. This minimum lifetime annuity is based on predetermined annuity purchase rates applied to a guaranteed minimum income benefit (“GMIB”) base. The Company previously issued certain variable annuity products with and guaranteed income benefit (“GIB”) features, guaranteed withdrawal benefit for life (“GWBL”), guaranteed minimum withdrawal benefit (“GMWB”) and guaranteed minimum accumulation benefit (“GMAB”) features. The Company has also assumed reinsurance for products with GMxB features. Reserves for products that have GMIB features, but do not have no-lapse guarantee features, and products with GMDB features are determined by estimating the expected value of death or income benefits in excess of the projected contract accumulation value and recognizing the excess over the estimated life based on expected assessments (i.e., benefit ratio). These reserves are recorded within Future policy benefits and other policyholders’ liabilities. The determination of this estimated liability is based on models that involve numerous assumptions and subjective judgments, including those regarding expected market rates of return and volatility, contract surrender and withdrawal rates, mortality experience, and, for contracts with the GMIB feature, GMIB election rates. Assumptions regarding Separate Account performance used for purposes of this calculation are set using a long-term view of expected average market returns by applying a RTM approach, consistent with that used for DAC amortization. There can be no assurance that actual experience will be consistent with management’s estimates. Products that have a GMIB feature with a no-lapse guarantee rider (“GMIBNLG”), GIB, GWBL, GMWB and GMAB features and the assumed products with GMIB features (collectively “GMxB derivative features”) are considered either freestanding or embedded derivatives and discussed below under (“Embedded and Freestanding Insurance Derivatives”). After the initial establishment of reserves, premium deficiency and loss recognition tests are performed each period end using best estimate assumptions as of the testing date without provisions for adverse deviation. When the liabilities for future policy benefits plus the present value of expected future gross premiums for the aggregate product group are insufficient to provide for expected future policy benefits and expenses for that line of business (i.e., reserves net of any DAC asset), DAC would first be written off and thereafter, if required, a premium deficiency reserve would be established by a charge to earnings. Premium deficiency reserves are recorded for the group single premium annuity business, certain interest-sensitive life contracts, structured settlements, individual disability income and major medical. Additionally, in certain instances the policyholder liability for a particular line of business may not be deficient in the aggregate to trigger loss recognition, but the pattern of earnings may be such that profits are expected to be recognized in earlier years followed by losses in later years. This pattern of profits followed by losses is exhibited in our variable interest-sensitive life (“VISL”) business and is generated by the cost structure of the product or secondary guarantees in the contract. The secondary guarantee ensures that, subject to specified conditions, the policy will not terminate and will continue to provide a death benefit even if there is insufficient policy value to cover the monthly deductions and charges. We accrue for these Profits Followed by Losses (“PFBL”) using a dynamic approach that changes over time as the projection of future losses change.
Policyholders' Dividend	Policyholders’ Dividends The amount of policyholders’ dividends to be paid (including dividends on policies included in the Closed Block) is determined annually by the board of directors of the issuing insurance company. The aggregate amount of policyholders’ dividends is related to actual interest, mortality, morbidity and expense experience for the year and judgment as to the appropriate level of statutory surplus to be retained by the Company.
Embedded and Freestanding Insurance Derivatives	Embedded and Freestanding Insurance Derivatives Reserves for products considered either embedded or freestanding derivatives are measured at estimated fair value separately from the host variable annuity product, with changes in estimated fair value reported in Net derivative gains (losses). The estimated fair values of these derivatives are determined based on the present value of projected future benefits minus the present value of projected future fees attributable to the guarantee. The projections of future benefits and future fees require capital markets and actuarial assumptions, including expectations concerning policyholder behavior. A risk-neutral valuation methodology is used under which the cash flows from the guarantees are projected under multiple capital market scenarios using observable risk-free rates. Additionally, the Company cedes and assumes reinsurance of products with GMxB features, which are considered either an embedded or freestanding derivative and measured at fair value. The GMxB reinsurance contract asset and liabilities’ fair values reflect the present value of reinsurance premiums and recoveries and risk margins over a range of market-consistent economic scenarios. Changes in the fair value of embedded and freestanding derivatives are reported in Net derivative gains (losses). Embedded derivatives in direct and assumed reinsurance contracts are reported in Future policyholders’ benefits and other policyholders’ liabilities and embedded derivatives in ceded reinsurance contracts are reported in the GMIB reinsurance contract asset, at fair value in the consolidated balance sheets. Embedded derivatives fair values are determined based on the present value of projected future benefits minus the present value of projected future fees. At policy inception, a portion of the projected future guarantee fees to be collected from the policyholder equal to the present value of projected future guaranteed benefits is attributed to the embedded derivative. The percentage of fees included in the fair value measurement is locked-in at inception. Fees above those amounts represent “excess” fees and are reported in Policy charges and fee income.
Separate Accounts	Separate Accounts Generally, Separate Accounts established under New York State and Arizona State Insurance Law are not chargeable with liabilities that arise from any other business of the Company. Separate Accounts assets are subject to General Account claims only to the extent Separate Accounts assets exceed separate accounts liabilities. Assets and liabilities of the Separate Account represent the net deposits and accumulated net investment earnings (loss) less fees, held primarily for the benefit of policyholders, and for which the Company does not bear the investment risk. Separate Accounts assets and liabilities are shown on separate lines in the consolidated balance sheets. Assets held in Separate Accounts are reported at quoted market values or, where quoted values are not readily available or accessible for these securities, their fair value measures most often are determined through the use of model pricing that effectively discounts prospective cash flows to present value using appropriate sector-adjusted credit spreads commensurate with the security’s duration, also taking into consideration issuer-specific credit quality and liquidity. Investment performance (including investment income, net investment gains (losses) and changes in unrealized gains (losses)) and the corresponding amounts credited to policyholders of such Separate Accounts are offset within the same line in the consolidated statements of income (loss). For 2019 , 2018 and 2017 , investment results of such Separate Accounts were gains (losses) of $22.9 billion , and $(7.2) billion and $16.7 billion , respectively. Deposits to Separate Accounts are reported as increases in Separate Accounts assets and liabilities and are not reported in revenues or expenses. Mortality, policy administration and surrender charges on all policies including those funded by Separate Accounts are included in revenues. The Company reports the General Account’s interests in Separate Accounts as Other trading in the consolidated balance sheets.
Broker-Dealer Revenues and Payables	Broker-Dealer Revenues, Receivables and Payables Certain of the Company’s subsidiaries provide investment management, brokerage and distribution services for affiliates and third parties. Third-party revenues earned from these services are reported in Other income in the Company’s consolidated statement of income (loss). Receivables from and payables to clients include amounts due on cash and margin transactions. Securities owned by customers are held as collateral for receivables; such collateral is not reflected in the consolidated financial statements.
Internal-use Software	Internal-use Software Capitalized internal-use software, included in Other assets in the consolidated balance sheets, is amortized on a straight-line basis over the estimated useful life of the software that ranges between three and five years . Capitalized amounts are periodically tested for impairment in accordance with the guidance on impairment of long-lived assets. An immediate charge to earnings is recognized if capitalized software costs no longer are deemed to be recoverable. In addition, service potential is periodically reassessed to determine whether facts and circumstances have compressed the software’s useful life such that acceleration of amortization over a shorter period than initially determined would be required.
Long-term Debt	Long-term Debt Liabilities for long-term debt are primarily carried at an amount equal to unpaid principal balance, net of unamortized discount or premium and debt issue costs. Original-issue discount or premium and debt-issue costs are recognized as a component of interest expense over the period the debt is expected to be outstanding, using the interest method of amortization. Interest expense is generally presented within Interest expense in the consolidated statements of income (loss).
Income Taxes	Income Taxes The Company files as part of a consolidated Federal income tax return. The Company provides for federal and state income taxes currently payable, as well as those deferred due to temporary differences between the financial reporting and tax bases of assets and liabilities. Current federal income taxes are charged or credited to operations based upon amounts estimated to be payable or recoverable as a result of taxable operations for the current year. Deferred income tax assets and liabilities are recognized based on the difference between financial statement carrying amounts and income tax bases of assets and liabilities using enacted income tax rates and laws. Valuation allowances are established when management determines, based on available information, that it is more likely than not that deferred tax assets will not be realized. Under accounting for uncertainty in income taxes guidance, the Company determines whether it is more likely than not that a tax position will be sustained upon examination by the appropriate taxing authorities before any part of the benefit can be recorded in the consolidated financial statements. Tax positions are then measured at the largest amount of benefit that is greater than 50% likely of being realized upon settlement.
Recognition of Investment Management and Service Fees and Related Expenses	Recognition of Investment Management and Service Fees and Related Expenses Investment management, advisory and service fees Reported as Investment management and service fees in the Company’s consolidated statements of income (loss) are investment management and administrative service fees earned by AXA Equitable Funds Management Group, LLC (“Equitable FMG”) as well as certain asset-based fees associated with insurance contracts. Equitable FMG provides investment management and administrative services, such as fund accounting and compliance services, to AXA Premier VIP Trust (“Equitable Premier VIP Trust”), EQ Advisors Trust (“EQAT”) and 1290 Funds as well as two private investment trusts established in the Cayman Islands, AXA Allocation Funds Trust and AXA Offshore Multimanager Funds Trust (collectively, the “Other AXA Trusts”). The contracts supporting these revenue streams create a distinct, separately identifiable performance obligation for each day the assets are managed for the performance of a series of services that are substantially the same and have the same pattern of transfer to the customer. Accordingly, these investment management, advisory, and administrative service base fees are recorded over time as services are performed and entitle the Company to variable consideration. Base fees, generally calculated as a percentage of assets under management (“AUM”), are recognized as revenue at month-end when the transaction price no longer is variable and the value of the consideration is determined. These fees are not subject to claw back and there is minimal probability that a significant reversal of the revenue recorded will occur. Sub-advisory and sub-administrative expenses associated with these services are calculated and recorded as the related services are performed in Other operating costs and expense in the consolidated statements of income (loss) as the Company is acting in a principal capacity in these transactions and, as such, reflects these revenues and expenses on a gross basis. Distribution services Revenues from distribution services include fees received as partial reimbursement of expenses incurred in connection with the sale of certain mutual funds and the 1290 Funds and for the distribution primarily of EQAT and Equitable Trust shares to Separate Accounts in connection with the sale of variable life and annuity contracts. The amount and timing of revenues recognized from performance of these distribution services often is dependent upon the contractual arrangements with the customer and the specific product sold as further described below. Most open-end management investment companies, such as U.S. funds and the EQAT and Equitable Trusts and the 1290 Funds, have adopted a plan under Rule 12b-1 of the Investment Company Act that allows for certain share classes to pay out of assets, distribution and service fees for the distribution and sale of its shares (“12b-1 Fees”). These open-end management investment companies have such agreements with the Company, and the Company has selling and distribution agreements pursuant to which it pays sales commissions to the financial intermediaries that distribute the shares. These agreements may be terminated by either party upon notice (generally 30 days) and do not obligate the financial intermediary to sell any specific amount of shares. The Company records 12b-1 fees monthly based upon a percentage of the net asset value (“NAV”) of the funds. At month-end, the variable consideration of the transaction price is no longer constrained as the NAV can be calculated and the value of consideration is determined. These services are separate and distinct from other asset management services as the customer can benefit from these services independently of other services. The Company accrues the corresponding 12b-1 fees paid to sub-distributors monthly as the expenses are incurred. The Company is acting in a principal capacity in these transactions; as such, these revenues and expenses are recorded on a gross basis in the consolidated statements of income (loss). Other revenues Also reported as Investment management and service fees in the Company’s consolidated statements of income (loss) are other revenues from contracts with customers, primarily consisting of mutual fund reimbursements and other brokerage income. Other income Revenues from contracts with customers reported as Other Income in the Company’s consolidated statements of income (loss) primarily consist of advisory account fees and brokerage commissions from the Company’s subsidiary broker-dealer operations and sales commissions from the Company’s general agent for the distribution of non-affiliate insurers’ life insurance and annuity products. These revenues are recognized at month-end when constraining factors, such as AUM and product mix, are resolved and the transaction pricing no longer is variable such that the value of consideration can be determined.
Discontinued Operations	Discontinued Operations The results of operations of a component of the Company that has been disposed of are reported in discontinued operations if certain criteria are met; such as if the disposal represents a strategic shift that has or will have a major effect on the Company’s operations and financial results. The results of AB for the year ended December 31, 2019, are reported in the Company’s consolidated statements of income (loss) as Net income (loss) from discontinued operations, net of taxes and noncontrolling interest. Intercompany transactions between the Company and AB prior to the disposal have been eliminated.
Accounting and Consolidation of Variable Interest Entities (“VIEs”)	Accounting and Consolidation of Variable Interest Entities (“VIEs”) For all new investment products and entities developed by the Company (other than Collateralized Debt Obligations (“CDOs”)), the Company first determines whether the entity is a VIE, which involves determining an entity’s variability and variable interests, identifying the holders of the equity investment at risk and assessing the five characteristics of a VIE. Once an entity has been determined to be a VIE, the Company then identifies the primary beneficiary of the VIE. If the Company is deemed to be the primary beneficiary of the VIE, then the Company consolidates the entity. Management of the Company reviews quarterly its investment management agreements and its investments in, and other financial arrangements with, certain entities that hold client assets under management (“AUM”) to determine the entities that the Company is required to consolidate under this guidance. These entities include certain mutual fund products, hedge funds, structured products, group trusts, collective investment trusts and limited partnerships. The analysis performed to identify variable interests held, determine whether entities are VIEs or VOEs, and evaluate whether the Company has a controlling financial interest in such entities requires the exercise of judgment and is updated on a continuous basis as circumstances change or new entities are developed. The primary beneficiary evaluation generally is performed qualitatively based on all facts and circumstances, including consideration of economic interests in the VIE held directly and indirectly through related parties and entities under common control, as well as quantitatively, as appropriate. At December 31, 2019 and 2018 , respectively, the Company held approximately $1.1 billion and $1.1 billion of investment assets in the form of equity interests issued by non-corporate legal entities determined under the guidance to be VIEs, such as limited partnerships and limited liability companies, including hedge funds, private equity funds and real estate-related funds. As an equity investor, the Company is considered to have a variable interest in each of these VIEs as a result of its participation in the risks and/or rewards these funds were designed to create by their defined portfolio objectives and strategies. Primarily through qualitative assessment, including consideration of related party interests or other financial arrangements, if any, the Company was not identified as primary beneficiary of any of these VIEs, largely due to its inability to direct the activities that most significantly impact their economic performance. Consequently, the Company continues to reflect these equity interests in the consolidated balance sheets as Other equity investments and to apply the equity method of accounting for these positions. The net assets of these non-consolidated VIEs are $160.2 billion and $166.1 billion at December 31, 2019 and 2018 , respectively. The Company’s maximum exposure to loss from its direct involvement with these VIEs is the carrying value of its investment of $1.1 billion and $1.1 billion and approximately $1.1 billion and $916 million of unfunded commitments at December 31, 2019 and 2018 , respectively. The Company has no further economic interest in these VIEs in the form of guarantees, derivatives, credit enhancements or similar instruments and obligations. Redeemable noncontrolling interests are presented in mezzanine equity and non-redeemable noncontrolling interests are presented within permanent equity. At December 31, 2019 and 2018 , the Company consolidated one real estate joint venture for which it was identified as the primary beneficiary under the VIE model. The consolidated entity is jointly owned by Equitable Life and AXA France and holds an investment in a real estate venture. Included in the Company’s consolidated balance sheets at December 31, 2019 and 2018 are total assets of $32 million and $36 million , respectively related to this VIE, primarily resulting from the consolidated presentation of Real estate held for production of income. In addition, Real estate held for production of income reflects $(5) million as related to one non-consolidated joint venture at December 31, 2019 and $16 million income as related to two non-consolidated joint ventures at December 31, 2018 .

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Schedule of New Accounting Pronouncements and Changes in Accounting Principles	Adoption of New Accounting Pronouncements Description Effect on the Financial Statement or Other Significant Matters ASU 2016-02: Leases (Topic 842) This ASU contains revised guidance to lease accounting that requires lessees to recognize on the balance sheet a “right-of-use” asset and a lease liability for virtually all lease arrangements, including those embedded in other contracts. Lessor accounting remains substantially unchanged from the current model but has been updated to align with certain changes made to the lessee model. On January 1, 2019, the Company adopted the new leases standard using the simplified modified retrospective transition method, as of the adoption date. Prior comparable periods were not adjusted or presented under this method. We applied several practical expedients offered by ASC 842 upon adoption of this standard. These included continuing to account for existing leases based on judgment made under legacy U.S. GAAP as it relates to determining classification of leases, unamortized initial direct costs and whether contracts are leases or contain leases. We also used the practical expedient to use hindsight in determining lease terms (using knowledge and expectations as of the standard’s adoption date instead of the previous assumptions under legacy U.S. GAAP) and evaluated impairment of our right-of-use (“RoU”) assets in the transition period (using most up-to-date information.) Adoption of this standard resulted in the recognition, as of January 1, 2019, of additional RoU operating lease assets of $347 million reported in Other assets and operating lease liabilities of $439 million reported in Other liabilities in accompanying consolidated balance sheets. The operating RoU assets recognized as of January 1, 2019 are net of deferred rent of $58 million and liabilities associated with previously recognized impairments of $34 million. See Note 10 for additional information. ASU 2017-08: Receivables—Nonrefundable Fees and Other Costs (Subtopic 310-20) This ASU requires certain premiums on callable debt securities to be amortized to the earliest call date and is intended to better align interest income recognition with the manner in which market participants price these instruments. On January 1, 2019, the Company adopted the new guidance on accounting for certain premiums on callable debt securities. As the Company’s existing accounting practices aligned with the guidance in the ASU, adoption of the new standard did not have a material impact on the Company’s consolidated financial statements. ASU 2017-12: Derivatives and Hedging (Topic 815), as clarified and amended by ASU 2019-04: Codification Improvements to Topic 326, Financial Instruments—Credit Losses; Topic 815, Derivatives and Hedging; and Topic 825, Financial Instruments The amendments in these ASUs better align an entity’s risk management activities and financial reporting for hedging relationships through changes to both the designation and measurement guidance for qualifying hedging relationships and the presentation of hedge results. On January 1, 2019, the Company adopted the new hedging guidance. Adoption of this guidance did not have a material impact on the Company’s consolidated financial statements. Future Adoption of New Accounting Pronouncements Description Effective Date and Method of Adoption Effect on the Financial Statement or Other Significant Matters ASU 2016-13: Financial Instruments—Credit Losses (Topic 326), as clarified and amended by ASU 2018-19: Codification Improvements to Topic 326, Financial Instruments—Credit Losses, ASU 2019-04: Codification Improvements to Topic 326, Financial Instruments—Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments and ASU 2019-05: Financial Instruments—Credit Losses (Topic 326) Targeted Transition Relief, ASU 2019-11 : Codification Improvements to Topic 326, Financial Instruments-Credit Losses ASU 2016-13 contains new guidance which introduces an approach based on expected losses to estimate credit losses on certain types of financial instruments. It also modifies the impairment model for available-for-sale debt securities and provides for a simplified accounting model for purchased financial assets with credit deterioration since their origination. ASU 2018-19, ASU 2019-04 and ASU 2019-11, clarified the codification guidance and did not materially change the standard. Effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. These amendments should be applied through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. The Company will implement its updated expected credit loss models, processes and controls related to the identified financial assets that fall within the scope of the new standard as of the date of adoption, January 1, 2020. Management currently anticipates that the standard will have the most impact to its commercial and agricultural mortgage loan portfolios. Based on current economic conditions, the structure and size of the Company’s loan portfolio and other assets impacted by the standard as of December 31, 2019, the Company expects application of the current expected credit loss requirements will result in an immaterial reduction to retained earnings as of the date of adoption. Description Effective Date and Method of Adoption Effect on the Financial Statement or Other Significant Matters ASU 2018-12: Financial Services - Insurance (Topic 944); ASU 2019-09: Financial Services - Insurance (Topic 944): Effective Date This ASU provides targeted improvements to existing recognition, measurement, presentation, and disclosure requirements for long-duration contracts issued by an insurance entity. The ASU primarily impacts four key areas, including: Measurement of the liability for future policy benefits for traditional and limited payment contracts. The ASU requires companies to review, and if necessary, update, cash flow assumptions at least annually for non-participating traditional and limited-payment insurance contracts. Interest rates used to discount the liability will need to be updated quarterly using an upper medium grade (low credit risk) fixed-income instrument yield. Measurement of market risk benefits (“MRBs”). MRBs, as defined under the ASU, will encompass certain GMxB features associated with variable annuity products and other general account annuities with other than nominal market risk. The ASU requires MRBs to be measured at fair value with changes in value attributable to changes in instrument-specific credit risk recognized in OCI. Amortization of deferred policy acquisition costs. The ASU simplifies the amortization of deferred policy acquisition costs and other balances amortized in proportion to premiums, gross profits, or gross margins, requiring such balances to be amortized on a constant level basis over the expected term of the contracts. Deferred costs will be required to be written off for unexpected contract terminations but will not be subject to impairment testing. Expanded footnote disclosures. The ASU requires additional disclosures including disaggregated rollforwards of beginning to ending balances of the liability for future policy benefits, policyholder account balances, MRBs, Separate Account liabilities and deferred policy acquisition costs. Companies will also be required to disclose information about significant inputs, judgements, assumptions and methods used in measurement. In November 2019, ASU 2019-09 was issued which modified ASU 2018-12 to be effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2021. Early adoption is permitted. For the liability for future policyholder benefits for traditional and limited payment contracts, companies can elect one of two adoption methods. Companies can either elect a modified retrospective transition method applied to contracts in force as of the beginning of the earliest period presented on the basis of their existing carrying amounts, adjusted for the removal of any related amounts in AOCI or a full retrospective transition method using actual historical experience information as of contract inception. The same adoption method must be used for deferred policy acquisition costs. For MRBs, the ASU should be applied retrospectively as of the beginning of the earliest period presented. For deferred policy acquisition costs, companies can elect one of two adoption methods. Companies can either elect a modified retrospective transition method applied to contracts in force as of the beginning of the earliest period presented on the basis of their existing carrying amounts, adjusted for the removal of any related amounts in AOCI or a full retrospective transition method using actual historical experience information as of contract inception. The same adoption method must be used for the liability for future policyholder benefits for traditional and limited payment contracts. The Company is currently evaluating the impact that adoption of this guidance will have on the Company’s consolidated financial statements, however the adoption of the ASU is expected to have a significant impact on the Company’s consolidated financial condition, results of operations, cash flows and required disclosures, as well as processes and controls. Description Effective Date and Method of Adoption Effect on the Financial Statement or Other Significant Matters ASU 2018-13: Fair Value Measurement (Topic 820) This ASU improves the effectiveness of fair value disclosures in the notes to financial statements. Amendments in this ASU modify disclosure requirements in Topic 820, including the removal, modification and addition to existing disclosure requirements. Effective for fiscal years beginning after December 15, 2019. Early adoption is permitted, with the option to early adopt amendments to remove or modify disclosures, with full adoption of additional disclosure requirements delayed until the stated effective date. Amendments on changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty should be applied prospectively. All other amendments should be applied retrospectively. The Company elected to early adopt during 2019 the removed disclosures relating to transfers between Level 1 and Level 2 of the fair value hierarchy, the policy for timing of transfers between levels and valuation processes for Level 3 fair value measurements. The Company will delay adoption of the additional disclosures until their effective date on January 1, 2020. ASU 2018-17: Consolidation (Topic 810): Targeted Improvements to Related Party Guidance for Variable Interest Entities This ASU provides guidance requiring that indirect interests held through related parties in common control arrangements be considered on a proportional basis for determining whether fees paid to decision makers and service providers are variable interests. Effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. Early adoption is permitted. All entities are required to apply the amendments in this update retrospectively with a cumulative-effect adjustment to retained earnings at the beginning of the earliest period presented. The Company will adopt this new standard effective for January 1, 2020. Management does not expect the adoption of this standard to materially impact the Company’s financial position or results of operations. ASU 2019-12: Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes This ASU simplifies the accounting for income taxes by removing certain exceptions to the general principles in Topic 740, as well as clarifying and amending existing guidance. Effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. Early adoption is permitted. The Company is currently evaluating the impact adopting the guidance will have on the company’s consolidated financial statements, however the adoption is not expected to materially impact the Company’s financial position, results of operations, or cash flows.

INVESTMENTS (Tables)

INVESTMENTS (Tables)	12 Months Ended
	Dec. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Available-for-sale Securities	The following tables provide information relating to fixed maturities classified as available-for-sale (“AFS”). Available-for-Sale Fixed Maturities by Classification Amortized Gross Gross Fair Value OTTI (in millions) December 31, 2019: Fixed Maturities: Corporate (1) $ 42,347 $ 2,178 $ 61 $ 44,464 $ — U.S. Treasury, government and agency 14,385 1,151 305 15,231 — States and political subdivisions 584 68 3 649 — Foreign governments 460 35 5 490 — Residential mortgage-backed (2) 161 12 — 173 — Asset-backed (3) 843 3 2 844 — Redeemable preferred stock 498 18 5 511 — Total at December 31, 2019 $ 59,278 $ 3,465 $ 381 $ 62,362 $ — December 31, 2018: Fixed Maturities: Corporate (1) $ 26,690 $ 385 $ 699 $ 26,376 $ — U.S. Treasury, government and agency 13,646 143 454 13,335 — States and political subdivisions 408 47 1 454 — Foreign governments 515 17 13 519 — Residential mortgage-backed (2) 193 9 — 202 — Asset-backed (3) 600 1 11 590 2 Redeemable preferred stock 440 16 17 439 — Total at December 31, 2018 $ 42,492 $ 618 $ 1,195 $ 41,915 $ 2 ______________ (1) Corporate fixed maturities include both public and private issues. (2) Includes publicly traded agency pass-through securities and collateralized obligations. (3) Includes credit-tranched securities collateralized by sub-prime mortgages and other asset types and credit tenant loans. (4) Amounts represent OTTI losses in AOCI, which were not included in Net income (loss).
Investments Classified by Contractual Maturity Date	The contractual maturities of AFS fixed maturities at December 31, 2019 are shown in the table below. Bonds not due at a single maturity date have been included in the table in the final year of maturity. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Contractual Maturities of Available-for-Sale Fixed Maturities Amortized Cost Fair Value (in millions) December 31, 2019: Due in one year or less $ 3,729 $ 3,745 Due in years two through five 13,266 13,663 Due in years six through ten 16,527 17,606 Due after ten years 24,254 25,820 Subtotal 57,776 60,834 Residential mortgage-backed securities 161 173 Asset-backed securities 843 844 Redeemable preferred stock 498 511 Total at December 31, 2019 $ 59,278 $ 62,362
Available For Sale Fixed Maturities Proceeds Gross Gains And Gross Losses From Sales And Other Than Temporary Impairments	The following table shows proceeds from sales, gross gains (losses) from sales for AFS fixed maturities for the years ended December 31, 2019 , 2018 and 2017 : Proceeds and Gains (Losses) on Sales for Available-for-Sale Fixed Maturities Years Ended December 31, 2019 2018 2017 (in millions) Proceeds from sales $ 8,702 $ 7,136 $ 7,232 Gross gains on sales $ 229 $ 145 $ 98 Gross losses on sales $ (28 ) $ (103 ) $ 211 Total OTTI $ — $ (37 ) $ (13 ) Non-credit losses recognized in OCI — — — Credit losses recognized in net income (loss) $ — $ (37 ) $ (13 )
Fixed Maturities Credit Loss Impairments	The following table sets forth the amount of credit loss impairments on AFS fixed maturities held by the Company at the dates indicated and the corresponding changes in such amounts: Available-for-Sale Fixed Maturities - Credit Loss Impairments Years Ended December 31, 2019 2018 (in millions) Balance at January 1, $ (46 ) $ (10 ) Previously recognized impairments on securities that matured, paid, prepaid or sold 31 1 Recognized impairments on securities impaired to fair value this period (1) — — Impairments recognized this period on securities not previously impaired — (37 ) Additional impairments this period on securities previously impaired — — Increases due to passage of time on previously recorded credit losses — — Accretion of previously recognized impairments due to increases in expected cash flows — — Balance at December 31, $ (15 ) $ (46 ) ______________ (1) Represents circumstances where the Company determined in the current period that it intends to sell the security, or it is more likely than not that it will be required to sell the security before recovery of the security’s amortized cost.
Other Net Unrealized Investment Gains Losses In Accumulated Other Comprehensive Income	The tables that follow below present a roll-forward of net unrealized investment gains (losses) recognized in AOCI: Net Unrealized Gains (Losses) on Available-for-Sale Fixed Maturities Net Unrealized Gains (Losses) on Investments DAC Policyholders’ Liabilities Deferred Income Tax Asset (Liability) AOCI Gain (Loss) Related to Net Unrealized Investment Gains (Losses) (in millions) Balance, January 1, 2019 $ (577 ) $ 39 $ (55 ) $ 125 $ (468 ) Net investment gains (losses) arising during the period 3,872 — — — 3,872 Reclassification adjustment: Included in Net income (loss) (211 ) — — — (211 ) Excluded from Net income (loss) (1) — — — — — Impact of net unrealized investment gains (losses) on: DAC — (870 ) — — (870 ) Deferred income taxes — — — (558 ) (558 ) Policyholders’ liabilities — — (137 ) — (137 ) Net unrealized investment gains (losses) excluding OTTI losses 3,084 (831 ) (192 ) (433 ) 1,628 Net unrealized investment gains (losses) with OTTI losses — — — — — Balance, December 31, 2019 $ 3,084 $ (831 ) $ (192 ) $ (433 ) $ 1,628 Balance, January 1, 2018 $ 1,526 $ (315 ) $ (232 ) $ (300 ) $ 679 Net investment gains (losses) arising during the period (2,098 ) — — — (2,098 ) Reclassification adjustment: Included in Net income (loss) (5 ) — — — (5 ) Excluded from Net income (loss) (1) — — — — — Impact of net unrealized investment gains (losses) on: DAC — 354 — — 354 Deferred income taxes (2) — — — 425 425 Policyholders’ liabilities — — 177 — 177 Net unrealized investment gains (losses) excluding OTTI losses (577 ) 39 (55 ) 125 (468 ) Net unrealized investment gains (losses) with OTTI losses — — — — — Balance, December 31, 2018 $ (577 ) $ 39 $ (55 ) $ 125 $ (468 ) ______________ (1) Represents “transfers out” related to the portion of OTTI losses during the period that were not recognized in Net income (loss) for securities with no prior OTTI loss. (2) Includes a $86 million income tax benefit from the impact of adoption of ASU 2018-02.
Schedule of Unrealized Loss on Investments	The following tables disclose the fair values and gross unrealized losses of the 390 securities at December 31, 2019 and the 1,471 securities at December 31, 2018 that are not deemed to be other-than-temporarily impaired, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position for the specified periods at the dates indicated: Continuous Gross Unrealized Losses for Available-for-Sale Fixed Maturities Less Than 12 Months 12 Months or Longer Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (in millions) December 31, 2019: Fixed Maturities: Corporate $ 2,669 $ 41 $ 366 $ 20 $ 3,035 $ 61 U.S. Treasury, government and agency 4,245 305 2 — 4,247 305 States and political subdivisions 123 3 — — 123 3 Foreign governments 11 — 47 5 58 5 Asset-backed 319 — 201 2 520 2 Redeemable preferred stock 29 — 49 5 78 5 Total $ 7,396 $ 349 $ 665 $ 32 $ 8,061 $ 381 December 31, 2018: Fixed Maturities: Corporate $ 8,369 $ 306 $ 6,161 $ 393 $ 14,530 $ 699 U.S. Treasury, government and agency 2,636 68 3,154 386 5,790 454 States and political subdivisions — — 19 1 19 1 Foreign governments 109 3 76 10 185 13 Residential mortgage-backed — — 13 — 13 — Asset-backed 558 11 6 — 564 11 Redeemable preferred stock 160 12 31 5 191 17 Total $ 11,832 $ 400 $ 9,460 $ 795 $ 21,292 $ 1,195
Debt Service Coverage Ratio	The following tables provide information relating to the loan-to-value and debt service coverage ratios for commercial and agricultural mortgage loans at December 31, 2019 and 2018 . The values used in these ratio calculations were developed as part of the periodic review of the commercial and agricultural mortgage loan portfolio, which includes an evaluation of the underlying collateral value. Mortgage Loans by Loan-to-Value and Debt Service Coverage Ratios Debt Service Coverage Ratio (1) Loan-to-Value Ratio (2): Greater than 2.0x 1.8x to 2.0x 1.5x to 1.8x 1.2x to 1.5x 1.0x to 1.2x Less than 1.0x Total Mortgage Loans (in millions) December 31, 2019: Commercial Mortgage Loans: 0% - 50% $ 887 $ 38 $ 214 $ 24 $ — $ — $ 1,163 50% - 70% 4,097 1,195 1,118 795 242 — 7,447 70% - 90% 251 98 214 154 46 — 763 90% plus — — — — — — — Total Commercial Mortgage Loans $ 5,235 $ 1,331 $ 1,546 $ 973 $ 288 $ — $ 9,373 Agricultural Mortgage Loans: 0% - 50% $ 322 $ 104 $ 241 $ 545 $ 321 $ 50 $ 1,583 50% - 70% 82 87 236 426 251 33 1,115 70% - 90% — — — 19 — — 19 90% plus — — — — — — — Total Agricultural Mortgage Loans $ 404 $ 191 $ 477 $ 990 $ 572 $ 83 $ 2,717 Total Mortgage Loans: 0% - 50% $ 1,209 $ 142 $ 455 $ 569 $ 321 $ 50 $ 2,746 50% - 70% 4,179 1,282 1,354 1,221 493 33 8,562 70% - 90% 251 98 214 173 46 — 782 90% plus — — — — — — — Total Mortgage Loans $ 5,639 $ 1,522 $ 2,023 $ 1,963 $ 860 $ 83 $ 12,090 December 31, 2018: Commercial Mortgage Loans: 0% - 50% $ 780 $ 21 $ 247 $ 24 $ — $ — $ 1,072 50% - 70% 4,908 656 1,146 325 151 — 7,186 70% - 90% 260 — 117 370 98 — 845 90% plus — — — 27 — — 27 Total Commercial Mortgage Loans $ 5,948 $ 677 $ 1,510 $ 746 $ 249 $ — $ 9,130 Debt Service Coverage Ratio (1) Loan-to-Value Ratio (2): Greater than 2.0x 1.8x to 2.0x 1.5x to 1.8x 1.2x to 1.5x 1.0x to 1.2x Less than 1.0x Total Mortgage Loans (in millions) Agricultural Mortgage Loans: 0% - 50% $ 282 $ 147 $ 267 $ 543 $ 321 $ 51 $ 1,611 50% - 70% 112 46 246 379 224 31 1,038 70% - 90% — — — 19 27 — 46 90% plus — — — — — — — Total Agricultural Mortgage Loans $ 394 $ 193 $ 513 $ 941 $ 572 $ 82 $ 2,695 Total Mortgage Loans: 0% - 50% $ 1,062 $ 168 $ 514 $ 567 $ 321 $ 51 $ 2,683 50% - 70% 5,020 702 1,392 704 375 31 8,224 70% - 90% 260 — 117 389 125 — 891 90% plus — — — 27 — — 27 Total Mortgage Loans $ 6,342 $ 870 $ 2,023 $ 1,687 $ 821 $ 82 $ 11,825 ______________ (1) The debt service coverage ratio is calculated using the most recently reported operating income results from property operations divided by annual debt service. (2) The loan-to-value ratio is derived from current loan balance divided by the fair value of the property. The fair value of the underlying commercial properties is updated annually.
Age Analysis Of Past Due Mortgage Loans	The following table provides information relating to the aging analysis of past due mortgage loans at December 31, 2019 and 2018 , respectively: Age Analysis of Past Due Mortgage Loans 30-59 Days 60-89 Days 90 Days or More Total Current Total Financing Receivables Recorded Investment 90 Days or More and Accruing (in millions) December 31, 2019: Commercial $ — $ — $ — $ — $ 9,373 $ 9,373 $ — Agricultural 57 1 66 124 2,593 2,717 66 Total Mortgage Loans $ 57 $ 1 $ 66 $ 124 $ 11,966 $ 12,090 $ 66 December 31, 2018: Commercial $ — $ — $ 27 $ 27 $ 9,103 $ 9,130 $ — Agricultural 18 8 42 68 2,627 2,695 40 Total Mortgage Loans $ 18 $ 8 $ 69 $ 95 $ 11,730 $ 11,825 $ 40
Net Investment Income (Loss)	The following table breaks out Net investment income (loss) by asset category: Years Ended December 31 2019 2018 2017 (in millions) Fixed maturities $ 1,902 $ 1,540 $ 1,365 Mortgage loans on real estate 540 494 453 Real estate held for the production of income (2 ) (6 ) 2 Other equity investments 74 123 169 Policy loans 198 201 205 Trading securities 712 128 258 Other investment income 18 69 54 Gross investment income (loss) 3,442 2,549 2,506 Investment expenses (144 ) (71 ) (65 ) Net investment income (loss) $ 3,298 $ 2,478 $ 2,441
Net Investment Income (Loss) from Trading Securities	The table below shows a breakdown of Net investment income (loss) from trading account securities during the years ended December 31, 2019 , 2018 and 2017 : Net Investment Income (Loss) from Trading Securities Years Ended December 31, 2019 2018 2017 (in millions) Net investment gains (losses) recognized during the period on securities held at the end of the period $ 422 $ (174 ) $ 63 Net investment gains (losses) recognized on securities sold during the period 7 (24 ) (19 ) Unrealized and realized gains (losses) on trading securities 429 (198 ) 44 Interest and dividend income from trading securities 283 326 214 Net investment income (loss) from trading securities $ 712 $ 128 $ 258
Investment Gains (Losses), Net	Investment gains (losses), net including changes in the valuation allowances and OTTI are as follows: Years Ended December 31, 2019 2018 2017 (in millions) Fixed maturities $ 203 $ 6 $ (130 ) Mortgage loans on real estate (1 ) — 2 Real estate held for the production of income 3 — — Other equity investments — — 3 Other 1 (2 ) — Investment gains (losses), net $ 206 $ 4 $ (125 )

DERIVATIVES (Tables)

DERIVATIVES (Tables)	12 Months Ended
	Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments by Category	The tables below present quantitative disclosures about the Company’s derivative instruments, including those embedded in other contracts required to be accounted for as derivative instruments: Derivative Instruments by Category At December 31, 2019 Fair Value Gains (Losses) Reported in Net Income (Loss) Year Ended December 31, 2019 Notional Asset Liability (in millions) Freestanding Derivatives (1) (2): Equity contracts: Futures $ 3,510 $ — $ — $ (1,294 ) Swaps 17,064 9 279 (2,405 ) Options 47,766 5,080 1,749 2,211 Interest rate contracts: Swaps 23,700 467 523 2,037 Futures 20,424 — — 139 Swaptions 3,201 16 — (35 ) Credit contracts: Credit default swaps 1,232 18 — 16 Other freestanding contracts: Foreign currency contracts 501 3 — (9 ) Margin — 140 — — Collateral — 72 3,001 — Embedded Derivatives (2): GMIB reinsurance contracts — 2,466 — 500 GMxB derivative features liability (3) — — 8,246 (2,428 ) SCS, SIO, MSO and IUL indexed features (4) — — 3,150 (2,552 ) Total $ 117,398 $ 8,271 $ 16,948 $ (3,820 ) ______________ (1) Reported in Other invested assets in the consolidated balance sheets. (2) Reported in Net derivative gains (losses) in the consolidated statements of income (loss). (3) Reported in Future policy benefits and other policyholders’ liabilities in the consolidated balance sheets. (4) SCS, SIO, MSO and IUL indexed features are reported in Policyholders’ account balances in the consolidated balance sheets. Derivative Instruments by Category At December 31, 2018 Fair Value Gains (Losses) Reported in Net Income (Loss) Year Ended December 31, 2018 Notional Amount Asset Derivatives Liability Derivatives (in millions) Freestanding Derivatives (1) (2): Equity contracts: Futures $ 10,411 $ — $ — $ 550 Swaps 7,697 140 168 675 Options 21,698 2,119 1,163 (899 ) Interest rate contracts: Swaps 27,003 632 194 (456 ) Futures 11,448 — — 118 Credit contracts: Credit default swaps 1,282 17 — (3 ) Other freestanding contracts: Foreign currency contracts 2,097 27 14 6 Margin — 7 5 — Collateral — 3 1,564 — Embedded Derivatives (2): GMIB reinsurance contracts — 1,991 — (1,068 ) GMxB derivative features liability (3) — — 5,431 (786 ) SCS, SIO, MSO and IUL indexed features (4) — — 687 853 Total $ 81,636 $ 4,936 $ 9,226 $ (1,010 ) ______________ (1) Reported in Other invested assets in the consolidated balance sheets. (2) Reported in Net derivative gains (losses) in the consolidated statements of income (loss). (3) Reported in Future policy benefits and other policyholders’ liabilities in the consolidated balance sheets. (4) SCS, SIO, MSO and IUL indexed features are reported in Policyholders’ account balances in the consolidated balance sheets.
Offsetting Financial Assets and Liabilities and Derivative Instruments	The following table presents information about the Company’s offsetting of financial assets and liabilities and derivative instruments at December 31, 2019 : Offsetting of Financial Assets and Liabilities and Derivative Instruments At December 31, 2019 Gross Amount Recognized Gross Amount Offset in the Balance Sheets Net Amount Presented in the Balance Sheets Gross Amount not Offset in the Balance Sheets (1) Net Amount (in millions) Assets: Total derivatives $ 5,804 $ 5,429 $ 375 $ (77 ) $ 298 Other financial instruments 1,754 — 1,754 — 1,754 Other invested assets $ 7,558 $ 5,429 $ 2,129 $ (77 ) $ 2,052 Liabilities: Total derivatives $ 5,474 $ 5,429 $ 45 $ — $ 45 Other financial liabilities 1,723 — 1,723 — 1,723 Other liabilities $ 7,197 $ 5,429 $ 1,768 $ — $ 1,768 ______________ (1) Includes primarily financial instrument sent (held). The following table presents information about the Company’s offsetting of financial assets and liabilities and derivative instruments at December 31, 2018 . Offsetting of Financial Assets and Liabilities and Derivative Instruments At December 31, 2018 Gross Amount Recognized Gross Amount Offset in the Balance Sheets Net Amount Presented in the Balance Sheets Gross Amount not Offset in the Balance Sheets (4) Net Amount (in millions) Assets: Total derivatives $ 2,946 $ 2,912 $ 34 $ — $ 34 Other financial instruments 1,520 — 1,520 — 1,520 Other invested assets $ 4,466 $ 2,912 $ 1,554 $ — $ 1,554 Liabilities: Total derivatives $ 3,109 $ 2,912 $ 197 $ — $ 197 Other financial liabilities 1,263 — 1,263 — 1,263 Other liabilities $ 4,372 $ 2,912 $ 1,460 $ — $ 1,460 Securities sold under agreement to repurchase (1) (2) (3) $ 571 $ — $ 571 $ (588 ) $ (17 ) ______________ (1) Excludes expense of $2 million in Securities sold under agreement to repurchase on the consolidated balance sheets. (2) U.S. Treasury and agency securities are in Fixed maturities available-for-sale on the consolidated balance sheets. (3) Cash is included in Cash and cash equivalents on consolidated balance sheets. (4) Includes primarily financial instrument sent (held).
Repurchase Agreements Accounted for as Secured Borrowings	The following table presents information about repurchase agreements accounted for as secured borrowings in the consolidated balance sheets at December 31, 2018 : Repurchase Agreement Accounted for as Secured Borrowings At December 31, 2018 Remaining Contractual Maturity of the Agreements Overnight and Continuous Up to 30 days 30-90 days Greater Than 90 days Total (in millions) Securities sold under agreement to repurchase (1) U.S. Treasury and agency securities $ — $ 571 $ — $ — $ 571 Total $ — $ 571 $ — $ — $ 571 ______________ (1) Excludes expense of $2 million in Securities sold under agreement to repurchase on the consolidated balance sheets.

CLOSED BLOCK (Tables)

CLOSED BLOCK (Tables)	12 Months Ended
	Dec. 31, 2019
Closed Block Disclosure [Abstract]
Schedule of Closed Block Assets and Liabilities	Summarized financial information for the Company’s Closed Block is as follows: December 31, 2019 2018 (in millions) Closed Block Liabilities: Future policy benefits, policyholders’ account balances and other $ 6,478 $ 6,709 Policyholder dividend obligation 2 — Other liabilities 38 47 Total Closed Block liabilities 6,518 6,756 Assets Designated to the Closed Block: Fixed maturities available-for-sale, at fair value (amortized cost of $3,558 and $3,680) 3,754 3,672 Mortgage loans on real estate, net of valuation allowance of $- and $- 1,759 1,824 Policy loans 706 736 Cash and other invested assets 82 76 Other assets 145 179 Total assets designated to the Closed Block 6,446 6,487 Excess of Closed Block liabilities over assets designated to the Closed Block 72 269 Amounts included in Accumulated other comprehensive income (loss): Net unrealized investment gains (losses), net of policyholders’ dividend obligation: $(2) and $0; and net of income tax: $41 and $0 164 8 Maximum future earnings to be recognized from closed block assets and liabilities $ 236 $ 277
Closed Block Operations, Net Results	The Company’s Closed Block revenues and expenses were as follows: Years ended December 31, 2019 2018 2017 (in millions) Revenues: Premiums and other income $ 182 $ 194 $ 224 Net investment income (loss) 278 291 314 Investment gains (losses), net (1 ) (3 ) (20 ) Total revenues 459 482 518 Benefits and Other Deductions: Policyholders’ benefits and dividends 439 471 537 Other operating costs and expenses 2 3 2 Total benefits and other deductions 441 474 539 Net income (loss), before income taxes 18 8 (21 ) Income tax (expense) benefit (2 ) (3 ) (36 ) Net income (loss) $ 16 $ 5 $ (57 )
Closed Block Dividend Obligation	A reconciliation of the Company’s policyholder dividend obligation follows: December 31, 2019 2018 2017 (in millions) Balance, beginning of year $ — $ 19 $ 52 Unrealized investment gains (losses) 2 (19 ) (33 ) Balance, end of year $ 2 $ — $ 19

DAC AND POLICYHOLDER BONUS IN_2

DAC AND POLICYHOLDER BONUS INTEREST CREDITS (Tables)	12 Months Ended
	Dec. 31, 2019
Contract holder Bonus Interest Credits [Abstract]
Deferred Policy Acquisition Costs	Changes in the deferred policy acquisition cost asset for the years ended December 31, 2019 , 2018 and 2017 were as follows: Years Ended December 31, 2019 2018 2017 (in millions) Balance, beginning of year $ 5,011 $ 4,492 $ 5,025 Capitalization of commissions, sales and issue expenses 648 597 578 Amortization: Impact of assumptions updates and model changes 77 165 (247 ) All other (529 ) (596 ) (653 ) Total amortization (452 ) (431 ) (900 ) Change in unrealized investment gains and losses (870 ) 353 (211 ) Balance, end of year $ 4,337 $ 5,011 $ 4,492
Schedule of Changes of Deferred Assets for Policyholder Bonus Credits and Deferred Acquisition Costs	The deferred asset for policyholder bonus interest credits is reported in Other assets in the Consolidated balance sheets and changes in the deferred asset for policyholder bonus interest credits are reported in Interest credited to policyholders’ account balances. For the years ended December 31, 2019 , 2018 and 2017 changes were as follows: Years Ended December 31, 2019 2018 2017 (in millions) Balance, beginning of year $ 426 $ 473 $ 504 Policyholder bonus interest credits deferred — 4 6 Amortization charged to income 5 (51 ) (37 ) Balance, end of year $ 431 $ 426 $ 473

FAIR VALUE DISCLOSURES (Tables)

FAIR VALUE DISCLOSURES (Tables)	12 Months Ended
	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Assets and Liabilities Measured at Fair Value on Recurring Basis	Assets and liabilities measured at fair value on a recurring basis are summarized below. At December 31, 2019 and December 31, 2018 , no assets were required to be measured at fair value on a non-recurring basis. Fair value measurements are required on a non-recurring basis for certain assets, including goodwill and mortgage loans on real estate, only when an impairment or other event occurs. When such fair value measurements are recorded, they must be classified and disclosed within the fair value hierarchy. Fair Value Measurements at December 31, 2019 Level 1 Level 2 Level 3 Total (in millions) Assets: Investments: Fixed maturities, available-for-sale: Corporate (1) $ — $ 43,218 $ 1,246 $ 44,464 U.S. Treasury, government and agency — 15,231 — 15,231 States and political subdivisions — 610 39 649 Foreign governments — 490 — 490 Residential mortgage-backed (2) — 173 — 173 Asset-backed (3) — 744 100 844 Redeemable preferred stock 237 274 — 511 Total fixed maturities, available-for-sale 237 60,740 1,385 62,362 Other equity investments 13 — — 13 Trading securities 321 6,277 — 6,598 Other invested assets: Short-term investments — 468 — 468 Assets of consolidated VIEs/VOEs — — 16 16 Swaps — (326 ) — (326 ) Credit default swaps — 18 — 18 Options — 3,331 — 3,331 Total other invested assets — 3,491 16 3,507 Cash equivalents 1,155 — — 1,155 GMIB reinsurance contracts asset — — 2,466 2,466 Separate Accounts assets (4) 121,184 2,878 — 124,061 Total Assets $ 122,910 $ 73,386 $ 3,867 $ 200,162 Liabilities: GMxB derivative features’ liability $ — $ — $ 8,246 $ 8,246 SCS, SIO, MSO and IUL indexed features’ liability — 3,150 — 3,150 Total Liabilities $ — $ 3,150 $ 8,246 $ 11,396 ______________ (1) Corporate fixed maturities includes both public and private issues. (2) Includes publicly traded agency pass-through securities and collateralized obligations. (3) Includes credit-tranched securities collateralized by sub-prime mortgages and other asset types and credit tenant loans. (4) Separate Account assets included in the fair value hierarchy exclude investments in entities that calculate NAV per share (or its equivalent) as a practical expedient. Such investments excluded from the fair value hierarchy include investments in real estate and commercial mortgages. At December 31, 2019 the fair value of such investments was $356 million . Fair Value Measurements at December 31, 2018 Level 1 Level 2 Level 3 Total (in millions) Assets: Investments: Fixed maturities, available-for-sale: Corporate (1) $ — $ 25,202 $ 1,174 $ 26,376 U.S. Treasury, government and agency — 13,335 — 13,335 States and political subdivisions — 416 38 454 Foreign governments — 519 — 519 Residential mortgage-backed (2) — 202 — 202 Asset-backed (3) — 71 519 590 Redeemable preferred stock 163 276 — 439 Total fixed maturities, available-for-sale 163 40,021 1,731 41,915 Other equity investments 12 — — 12 Trading securities 218 14,919 29 15,166 Other invested assets: Short-term investments — 412 — 412 Assets of consolidated VIEs/VOEs — — 19 19 Swaps — 423 — 423 Credit default swaps — 17 — 17 Options — 956 — 956 Total other invested assets — 1,808 19 1,827 Cash equivalents 2,160 — — 2,160 GMIB reinsurance contracts asset — — 1,991 1,991 Separate Accounts assets (4) 105,159 2,733 21 107,913 Total Assets $ 107,712 $ 59,481 $ 3,791 $ 170,984 Liabilities: GMxB derivative features’ liability $ — $ — $ 5,431 $ 5,431 SCS, SIO, MSO and IUL indexed features’ liability — 687 — 687 Total Liabilities $ — $ 687 $ 5,431 $ 6,118 ______________ (1) Corporate fixed maturities includes both public and private issues. (2) Includes publicly traded agency pass-through securities and collateralized obligations. (3) Includes credit-tranched securities collateralized by sub-prime mortgages and other asset types and credit tenant loans. (4) Separate Account assets included in the fair value hierarchy exclude investments in entities that calculate NAV per share (or its equivalent) as a practical expedient. Such investments excluded from the fair value hierarchy include investments in real estate and commercial mortgages. At December 31, 2018 the fair value of such investments was $353 million .
Reconciliation of Assets and Liabilities at Level 3	The tables below present reconciliations for all Level 3 assets and liabilities at December 31, 2019 , 2018 and 2017 , respectively. Level 3 Instruments - Fair Value Measurements Corporate State and Political Subdivisions Commercial Mortgage- backed Asset-backed Redeemable Preferred Stock (in millions) Balance, January 1, 2019 $ 1,174 $ 38 $ — $ 519 $ — Total gains (losses), realized and unrealized, included in: Income (loss) as: Net investment income (loss) 4 — — — — Investment gains (losses), net — — — — — Subtotal 4 — — — — Other comprehensive income (loss) 5 3 — 1 — Purchases 273 — — 100 — Sales (120 ) (2 ) — (84 ) — Transfers into Level 3 (1) 14 — — — — Transfers out of Level 3 (1) (104 ) — — (436 ) — Balance, December 31, 2019 $ 1,246 $ 39 $ — $ 100 $ — Balance, January 1, 2018 $ 1,139 $ 40 $ — $ 8 $ — Total gains (losses), realized and unrealized, included in: Income (loss) as: Net investment income (loss) 7 — — (2 ) — Investment gains (losses), net (8 ) — — — — Subtotal (1 ) — — (2 ) — Other comprehensive income (loss) (20 ) (1 ) — (7 ) — Purchases 322 — — 550 — Sales (321 ) (1 ) — (30 ) — Transfers into Level 3 (1) 83 — — — — Transfers out of Level 3 (1) (28 ) — — — — Balance, December 31, 2018 $ 1,174 $ 38 $ — $ 519 $ — Balance, January 1, 2017 $ 845 $ 42 $ 349 $ 24 $ 1 Total gains (losses), realized and unrealized, included in: Income (loss) as: Net Investment income (loss) 5 — (2 ) — — Investment gains (losses), net 2 — (63 ) 15 — Subtotal 7 — (65 ) 15 — Other comprehensive income (loss) 4 (1 ) 45 (9 ) (1 ) Purchases 612 — — — — Sales (331 ) (1 ) (329 ) (21 ) — Transfers into Level 3 (1) 7 — — — — Transfers out of Level 3 (1) (5 ) — — (1 ) — Balance, December 31, 2017 $ 1,139 $ 40 $ — $ 8 $ — ______________ (1) Transfers into/out of the Level 3 classification are reflected at beginning-of-period fair values. Other Equity Investments GMIB Reinsurance Contract Asset Separate Account Assets GMxB Derivative Features Liability (in millions) Balance, January 1, 2019 $ 48 $ 1,991 $ 21 $ (5,431 ) Total gains (losses), realized and unrealized, included in: Income (loss) as: Investment gains (losses), net — — — — Net derivative gains (losses), excluding non-performance risk — 458 — (3,220 ) Non-performance risk (1) — 42 — 792 Subtotal — 500 — (2,428 ) Purchases (2) — 47 — (416 ) Sales (3) — (72 ) (1 ) 29 Settlements — — (2 ) — Activity related to consolidated VIEs/VOEs (3 ) — — — Transfers into Level 3 (4) — — — — Transfers out of Level 3 (4) (29 ) — (18 ) — Balance, December 31, 2019 $ 16 $ 2,466 $ — $ (8,246 ) Balance, January 1, 2018 $ 25 $ 10,488 $ 22 $ (4,256 ) Total gains (losses), realized and unrealized, included in: Income (loss) as: Investment gains (losses), net — — — — Net derivative gains (losses), excluding non-performance risk — (972 ) — (296 ) Non-performance risk (1) — (96 ) — (490 ) Subtotal — (1,068 ) — (786 ) Purchases (2) 29 96 5 (403 ) Sales (3) — (62 ) (1 ) 14 Settlements — (7,463 ) (5 ) — Activity related to consolidated VIEs/VOEs (6 ) — — — Transfers into Level 3 (4) 5 — — — Transfers out of Level 3 (4) (5 ) — — — Balance, December 31, 2018 $ 48 $ 1,991 $ 21 $ (5,431 ) Balance, January 1, 2017 $ 40 $ 10,313 $ 17 $ (5,473 ) Total gains (losses), realized and unrealized, included in: Income (loss) as: Investment gains (losses), net — — (1 ) — Net derivative gains (losses), excluding non-performance risk — (6 ) — 1,443 Non-performance risk (1) — 75 — 149 Subtotal — 69 (1 ) 1,592 Purchases (2) — 221 12 (381 ) Sales (3) — (115 ) (2 ) 6 Settlements — — (4 ) — Activity related to consolidated VIEs/VOEs (15 ) — — — Transfers into Level 3 (4) — — — — Transfers out of Level 3 (4) — — — — Balance, December 31, 2017 $ 25 $ 10,488 $ 22 $ (4,256 ) ______________ (1) The Company’s non-performance risk is recorded through Net derivative gains (losses). (2) For the GMIB reinsurance contract asset and GMxB derivative features liability, represents attributed fee. (3) For the GMIB reinsurance contract asset, represents recoveries from reinsurers and for GMxB derivative features liability represents benefits paid. (4) Transfers into/out of the Level 3 classification are reflected at beginning-of-period fair values. The table below details changes in unrealized gains (losses) for 2019 , 2018 and 2017 by category for Level 3 assets and liabilities still held at December 31, 2019 , 2018 and 2017 , respectively. Change in Unrealized Gains (Losses) for Level 3 Instruments Net Earnings (Loss) Net Derivative Gains (Losses) OCI (in millions) Held at December 31, 2019: Change in unrealized gains (losses): Fixed maturities, available-for-sale: Corporate $ — $ 3 State and political subdivisions — 3 Commercial mortgage-backed — — Asset-backed — — Subtotal — 6 GMIB reinsurance contracts 500 — GMxB derivative features liability (2,428 ) — Total $ (1,928 ) $ 6 Held at December 31, 2018: Change in unrealized gains (losses): Fixed maturities, available-for-sale: Corporate $ — $ (18 ) State and political subdivisions — (1 ) Asset-backed — (7 ) Subtotal — (26 ) GMIB reinsurance contracts (1,068 ) — GMxB derivative features liability (786 ) — Total $ (1,854 ) $ (26 ) Held at December 31, 2017: Change in unrealized gains (losses): Fixed maturities, available-for-sale: Corporate $ — $ 4 Commercial mortgage-backed — 45 Asset-backed — (9 ) Subtotal — 40 GMIB reinsurance contracts 69 — GMxB derivative features liability 1,592 — Total $ 1,661 $ 40
Quantitative Information About Level 3 Fair Value Measurement	The following tables disclose quantitative information about Level 3 fair value measurements by category for assets and liabilities at December 31, 2019 and 2018 , respectively. Quantitative Information about Level 3 Fair Value Measurements at December 31, 2019 Fair Value Valuation Technique Significant Unobservable Input Range Weighted Average (in millions) Assets: Investments: Fixed maturities, available-for-sale: Corporate $ 51 Matrix pricing Spread over Benchmark 65 - 580 bps 186 bps 1,025 Market EBITDA multiples 3.3x - 56.7x 14.3x GMIB reinsurance contract asset 2,466 Discounted cash flow Non-performance risk 55 - 109 bps Liabilities: GMIBNLG 8,128 Discounted cash flow Non-performance risk 124 bps GWBL/GMWB 109 Discounted cash flow Non-performance risk 124 bps GIB 5 Discounted cash flow Non-performance risk 124 bps GMAB 4 Discounted cash flow Lapse rates 1.0% - 10.0% ______________ (1) Mortality rates vary by age and demographic characteristic such as gender. Mortality rate assumptions are based on a combination of company and industry experience. A mortality improvement assumption is also applied. For any given contract, mortality rates vary throughout the period over which cash flows are projected for purposes of valuating the embedded derivatives. Quantitative Information about Level 3 Fair Value Measurements at December 31, 2018 Fair Value Valuation Technique Significant Unobservable Input Range Weighted Average (in millions) Assets: Investments: Fixed maturities, available-for-sale: Corporate $ 93 Matrix pricing model Spread over benchmark 15 - 580 bps 104 bps 881 Market comparable companies EBITDA multiples 4.1x - 37.8x 12.1x GMIB reinsurance contract asset 1,991 Discounted cash flow Non-performance risk 74 - 159 bps Liabilities: GMIBNLG 5,341 Discounted cash flow Non-performance risk 189 bps GWBL/GMWB 130 Discounted cash flow Non-performance risk 189 bps GIB (48 ) Discounted cash flow Non-performance risk 189 bps GMAB 7 Discounted cash flow Lapse rates 1.0% - 5.7% ______________ (1) Mortality rates vary by age and demographic characteristic such as gender. Mortality rate assumptions are based on a combination of company and industry experience. A mortality improvement assumption is also applied. For any given contract, mortality rates vary throughout the period over which cash flows are projected for purposes of valuating the embedded derivatives.
Fair Value Disclosure Financial Instruments Not Carried At Fair Value	The carrying values and fair values at December 31, 2019 and 2018 for financial instruments not otherwise disclosed in Note 3 and Note 4 are presented in the table below. Carrying Values and Fair Values for Financial Instruments Not Otherwise Disclosed Carrying Value Fair Value Level 1 Level 2 Level 3 Total (in millions) December 31, 2019: Mortgage loans on real estate $ 12,090 $ — $ — $ 12,317 $ 12,317 Policy loans $ 3,270 $ — $ — $ 4,199 $ 4,199 Loans to affiliates $ 1,200 $ — $ 1,224 $ — $ 1,224 Policyholders’ liabilities: Investment contracts $ 1,922 $ — $ — $ 2,029 $ 2,029 FHLBNY funding agreements $ 6,909 $ — $ 6,957 $ — $ 6,957 Loans from affiliates $ — $ — $ — $ — $ — Separate Accounts liabilities $ 9,041 $ — $ — $ 9,041 $ 9,041 December 31, 2018: Mortgage loans on real estate $ 11,818 $ — $ — $ 11,478 $ 11,478 Policy loans $ 3,267 $ — $ — $ 3,944 $ 3,944 Loans to affiliates $ 600 $ — $ 603 $ — $ 603 Policyholders’ liabilities: Investment contracts $ 1,974 $ — $ — $ 2,015 $ 2,015 FHLBNY funding agreements $ 4,002 $ — $ 3,956 $ — $ 3,956 Loans from affiliates $ 572 $ — $ 572 $ — $ 572 Separate Accounts liabilities $ 7,406 $ — $ — $ 7,406 $ 7,406

INSURANCE LIABILITIES (Tables)

INSURANCE LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2019
Insurance [Abstract]
Variable Annuity Contracts- GMDB GMIB	Change in Liability for Variable Annuity Contracts with GMDB and GMIB Features and No NLG Feature Years Ended December 31, 2019 , 2018 and 2017 GMDB GMIB Direct Ceded Direct Ceded (in millions) Balance at January 1, 2017 $ 3,159 $ (1,558 ) $ 3,808 $ (10,314 ) Paid guarantee benefits (354 ) 171 (151 ) 115 Other changes in reserve 1,249 (643 ) 1,097 (289 ) Balance at December 31, 2017 4,054 (2,030 ) 4,754 (10,488 ) Paid guarantee benefits (394 ) 70 (153 ) 61 Other changes in reserve 994 1,853 (860 ) 8,436 Balance at December 31, 2018 4,654 (107 ) 3,741 (1,991 ) Paid guarantee benefits (438 ) 14 (257 ) 72 Other changes in reserve 563 (5 ) 1,204 (547 ) Balance at December 31, 2019 $ 4,779 $ (98 ) $ 4,688 $ (2,466 )
Schedule of Net Amount of Risk by Product and Guarantee	Account Values and Net Amount at Risk (“NAR”) for direct variable annuity contracts in force with GMDB and GMIB features as of December 31, 2019 are presented in the following tables by guarantee type. For contracts with the GMDB feature, the NAR in the event of death is the amount by which the GMDB feature exceeds the related Account Values. For contracts with the GMIB feature, the NAR in the event of annuitization is the amount by which the present value of the GMIB benefits exceed the related Account Values, taking into account the relationship between current annuity purchase rates and the GMIB guaranteed annuity purchase rates. Since variable annuity contracts with GMDB features may also offer GMIB guarantees in the same contract, the GMDB and GMIB amounts listed are not mutually exclusive. Direct Variable Annuity Contracts with GMDB and GMIB Features at December 31, 2019 Guarantee Type Return of Premium Ratchet Roll-Up Combo Total (in millions; except age and interest rate) Variable annuity contracts with GMDB features Account Values invested in: General Account $ 14,571 $ 93 $ 57 $ 175 $ 14,896 Separate Accounts 48,920 9,258 3,190 33,120 94,488 Total Account Values $ 63,491 $ 9,351 $ 3,247 $ 33,295 $ 109,384 Net Amount at Risk, gross $ 108 $ 36 $ 1,833 $ 17,729 $ 19,706 Net Amount at Risk, net of amounts reinsured $ 108 $ 34 $ 1,280 $ 17,729 $ 19,151 Average attained age of policyholders (in years) 51.1 67.6 74.3 69.4 55.0 Percentage of policyholders over age 70 10.5 % 45.6 % 68.1 % 50.8 % 19.3 % Range of contractually specified interest rates N/A N/A 3% - 6% 3% - 6.5% 3% - 6.5% Variable annuity contracts with GMIB features Account Values invested in: General Account $ — $ — $ 19 $ 226 $ 245 Separate Accounts — — 23,572 35,776 59,348 Total Account Values $ — $ — $ 23,591 $ 36,002 $ 59,593 Net Amount at Risk, gross $ — $ — $ 857 $ 9,344 $ 10,201 Net Amount at Risk, net of amounts reinsured $ — $ — $ 270 $ 8,482 $ 8,752 Average attained age of policyholders (in years) N/A N/A 68.8 69.5 69.4 Weighted average years remaining until annuitization N/A N/A 1.6 0.3 0.5 Range of contractually specified interest rates N/A N/A 3% - 6% 3% - 6.5% 3% - 6.5%
Schedule of Fair Value of Separate Accounts by Major Category of Investment	The following table presents the aggregate fair value of assets, by major investment category, held by Separate Accounts that support variable annuity contracts with GMDB and GMIB features. The investment performance of the assets impacts the related Account Values and, consequently, the NAR associated with the GMDB and GMIB benefits and guarantees. Because the Company’s variable annuity contracts offer both GMDB and GMIB features, GMDB and GMIB amounts are not mutually exclusive. Investment in Variable Insurance Trust Mutual Funds December 31, 2019 2018 Mutual Fund Type GMDB GMIB GMDB GMIB (in millions) Equity $ 42,489 $ 17,941 $ 35,541 $ 15,759 Fixed income 5,263 2,699 5,173 2,812 Balanced 45,871 38,445 41,588 33,974 Other 865 263 852 290 Total $ 94,488 $ 59,348 $ 83,154 $ 52,835
No Lapse Guarantee Liabilities	is summarized in the table below: Direct Liability Reinsurance Ceded Net (in millions) Balance at January 1, 2017 $ 1,182 $ (606 ) $ 576 Paid guarantee benefits (24 ) — (24 ) Other changes in reserves (466 ) (58 ) (524 ) Balance at December 31, 2017 692 (664 ) 28 Paid guarantee benefits (23 ) — (23 ) Other changes in reserves 118 (69 ) 49 Balance at December 31, 2018 787 (733 ) 54 Paid guarantee benefits (20 ) — (20 ) Other changes in reserves 126 (74 ) 52 Balance at December 31, 2019 $ 893 $ (807 ) $ 86

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Dec. 31, 2019
Leases [Abstract]
Assets and Liabilities, Leases	Balance Sheet Classification of Operating Lease Assets and Liabilities Balance Sheet Line Item December 31, 2019 (in millions) Assets Operating lease assets Other Assets $ 324 Liabilities Operating lease liabilities Other Liabilities $ 415
Lease, Cost	The table below summarizes the components of lease costs for the year ended December 31, 2019 . Lease Costs Year Ended December 31, 2019 (in millions) Operating lease cost $ 77 Variable operating lease cost 10 Sublease income (16 ) Short-term lease expense 2 Net lease cost $ 72 Weighted Averages - Remaining Operating Lease Term and Discount Rate December 31, 2019 Weighted-average remaining operating lease term 6 years Weighted-average discount rate for operating leases 3.10 % Supplemental cash flow information related to leases was as follows: Lease Liabilities Information Year Ended December 31, 2019 (in millions) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 87 Non-cash transactions: Leased assets obtained in exchange for new operating lease liabilities $ 50
Lessee, Operating Lease, Liability, Maturity	Maturities of lease liabilities as of December 31, 2019 are as follows: Maturities of Lease Liabilities December 31, 2019 (in millions) Operating Leases: 2020 $ 95 2021 93 2022 90 2023 81 2024 23 Thereafter 71 Total lease payments 453 Less: Interest (38 ) Present value of lease liabilities $ 415
Schedule of Future Minimum Rental Payments for Operating Leases	The following table presents the Company’s future minimum lease obligation under ASC 840 as of December 31, 2018 : December 31, 2018 Calendar Year (in millions) 2019 $ 81 2020 $ 74 2021 $ 69 2022 $ 67 2023 $ 63 Thereafter $ 66

REINSURANCE (Tables)

REINSURANCE (Tables)	12 Months Ended
	Dec. 31, 2019
Reinsurance Disclosures [Abstract]
Schedule Of Effect Of Reinsurance	The following table summarizes the effect of reinsurance: Years Ended December 31, 2019 2018 2017 (in millions) Direct premiums $ 868 $ 836 $ 880 Reinsurance assumed 194 186 195 Reinsurance ceded (126 ) (160 ) (171 ) Premiums $ 936 $ 862 $ 904 Direct charges and fee income $ 3,821 $ 3,990 $ 4,012 Reinsurance ceded (371 ) (467 ) (718 ) Policy charges and fee income $ 3,450 $ 3,523 $ 3,294 Direct policyholders’ benefits $ 4,339 $ 3,378 $ 4,159 Reinsurance assumed 216 219 8 Reinsurance ceded (436 ) (592 ) (694 ) Policyholders’ benefits $ 4,119 $ 3,005 $ 3,473

LOANS TO AND FROM AFFILIATES (T

LOANS TO AND FROM AFFILIATES (Tables)	12 Months Ended
	Dec. 31, 2019
Related Party Transactions [Abstract]
Schedule of loans to and from affiliates	As of December 31, 2019 2018 (in millions) Loans to affiliates EQH-AEL internal debt (3.69%, due 2021) $ 300 $ 600 EQH-AEL internal debt (one-month LIBOR + 1.33%, due 2024) 900 — Total loans to affiliates $ 1,200 $ 600 Loans from affiliates Senior Notes (3.75%, due 2019) $ — $ 572 Total loans from affiliates $ — $ 572

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	12 Months Ended
	Dec. 31, 2019
Related Party Transactions [Abstract]
Related Party Transactions	The assets received and the assets removed were as follows: As of April 12, 2018 (in millions) Assets Received Assets Removed Assets at fair value: Fixed income securities $ 7,083 Short-term investments 205 Money market funds 2 Accrued interest 43 Derivatives 282 Cash and cash equivalents 1,273 Total $ 8,888 Deferred cost of reinsurance asset $ 1,839 GMDB ceded reserves 2,317 GMIB reinsurance contract asset 7,463 Payable to AXA RE Arizona 270 Total $ 11,889 The table below summarizes the fees received/paid by the Company and the expenses reimbursed to/from the Company in connection with certain services described above for the years ended December 31, 2019 , 2018 and 2017 . Years ended December 31, 2019 2018 2017 (in millions) Revenue received or accrued for: Investment management and administrative services provided to EQAT, Equitable Premier VIP Trust, 1290 Funds and Other AXA Trusts $ 669 $ 727 $ 720 General services provided to affiliates (1) 460 463 439 Amounts received or accrued for commissions and fees earned for sale of Equitable America’s insurance products 39 44 45 Total $ 1,167 $ 1,234 $ 1,204 Expenses paid or accrued for: Paid or accrued commission and fee expenses for sale of insurance products by AXA Equitable Distribution $ 573 $ 613 $ 608 General services provided by affiliates (1) 76 109 186 Investment management services provided by AXA IM, AXA REIM and AXA Rosenberg 5 2 5 Total $ 654 $ 724 $ 799

EMPLOYEE BENEFIT PLANS (Tables)

EMPLOYEE BENEFIT PLANS (Tables)	12 Months Ended
	Dec. 31, 2019
Retirement Benefits [Abstract]
Schedule of Net Funded Status	The following table presents the funded status of the plan: As of December 31, 2019 2018 (in millions) Legal Name of Plan: AXA Equitable Retirement Plan EIN# 13-5570651 Total Plan Assets $ 2,159 $ 1,993 Accumulated Benefit Obligation $ 2,160 $ 2,039 Funded Status 99.9 % 97.8 %

SHARE-BASED AND OTHER COMPENS_2

SHARE-BASED AND OTHER COMPENSATION PROGRAMS (Tables)	12 Months Ended
	Dec. 31, 2019
Share-based Payment Arrangement [Abstract]
Schedule of compensation costs	Compensation costs for 2019 , 2018 and 2017 for share-based payment arrangements as further described herein are as follows: Years Ended December 31, 2019 2018 2017 (in millions) Performance Shares $ 10 $ 12 $ 18 Stock Options 3 2 1 AXA Shareplan — — 9 Restricted Stock Unit Awards 15 16 2 Other Compensation Plans (1) — — — Total Compensation Expenses $ 28 $ 30 $ 30 ____________ (1) Includes stock appreciation rights and employee stock purchase plans.
Summary of stock option activity	A summary of activity in the AXA and Holdings option plans during 2019 follows: Options Outstanding EQH Shares AXA Ordinary Shares AXA ADRs (2) Number Outstanding (In 000’s) Weighted Average Exercise Price Number Outstanding (In 000’s) Weighted Average Exercise Price Number Outstanding (In 000’s) Weighted Average Exercise Price Options Outstanding at January 1, 2019 835 $ 21.34 2,609 € 18.20 15 $ 15.37 Options granted 1,251 $ 18.74 156 € 21.60 — $ — Options exercised 23 $ 21.34 856 € 16.40 15 $ 15.37 Options forfeited, net 133 $ 20.29 182 € 19.72 — $ — Options expired — $ — — € — — $ — Options Outstanding at December 31, 2019 1,930 $ 19.73 1,727 € 20.09 — $ — Aggregate Intrinsic Value (1) $ 9,755 € 8,661 $ — Weighted Average Remaining Contractual Term (in years) 8.85 5.20 — Options Exercisable at December 31, 2019 250 $ 21.34 1,527 € 19.74 — $ — Aggregate Intrinsic Value (1) $ 859 € 8,207 $ — Weighted Average Remaining Contractual Term (in years) 8.43 4.85 — ____________ (1) Aggregate intrinsic value, presented in thousands, is calculated as the excess of the closing market price on December 31, 2019 of the respective underlying shares over the strike prices of the option awards. For awards with strike prices higher then market prices, intrinsic value is shown as zero. (2) AXA ordinary shares will be delivered to participants in lieu of AXA ADRs at exercise or maturity. For the purpose of estimating the fair value of Holdings and AXA stock option awards, the Black-Scholes is used. A Monte-Carlo simulation approach was used to model the fair value of the conditional vesting feature of the awards of options to purchase Holdings and AXA ordinary shares. Shown below are the relevant input assumptions used to derive the fair values of options awarded in 2019, 2018 and 2017. EQH Shares (1) AXA Ordinary Shares (2) 2019 2018 2019 2018 2017 Dividend yield 2.77 % 2.44 % NA NA 6.49 % Expected volatility 25.70 % 25.40 % NA NA 26.6 % Risk-free interest rates 2.49 % 2.83 % NA NA 0.33 % Expected life in years 5.8 9.7 NA NA 8.1 Weighted average fair value per option at grant date $ 3.82 $ 4.61 NA NA $ 2.06
Schedule of share-based payment award, valuation assumptions	EQH Shares (1) AXA Ordinary Shares (2) 2019 2018 2019 2018 2017 Dividend yield 2.77 % 2.44 % NA NA 6.49 % Expected volatility 25.70 % 25.40 % NA NA 26.6 % Risk-free interest rates 2.49 % 2.83 % NA NA 0.33 % Expected life in years 5.8 9.7 NA NA 8.1 Weighted average fair value per option at grant date $ 3.82 $ 4.61 NA NA $ 2.06 ____________ (1) The expected volatility is based on historical selected peer data, the weighted average expected term is determined by using the simplified method due to lack of sufficient historical data, the expected dividend yield based on Holdings’ expected annualized dividend, and the risk-free interest rate is based on the U.S. Treasury bond yield for the appropriate expected term. (2) The expected AXA dividend yield is based on market consensus. AXA share price volatility is estimated on the basis of implied volatility, which is checked against an analysis of historical volatility to ensure consistency. The risk-free interest rate is based on the Euro Swap Rate curve for the appropriate term. The effect of expected early exercise is taken into account through the use of an expected life assumption based on historical data.
Schedule of share-based compensation, restricted stock units award activity	Following table summarizes Holdings restricted share units and AXA ordinary share unit activity for 2019 . Shares of Holdings Restricted Stock Weighted Average Grant Date Fair Value Shares of AXA Restricted Stock Weighted Average Grant Date Fair Value Unvested as of January 1, 2019 1,259,059 $ 21.00 48,334 $ 20.38 Granted 1,007,057 $ 18.22 — $ — Forfeited 125,915 $ 19.74 — $ — Vested 334,900 $ 20.51 29,054 $ 21.35 Unvested as of December 31, 2019 1,805,301 $ 19.35 19,280 $ 19.20
Schedule of share-based compensation, performance award activity	The following table summarizes Holdings and AXA performance awards activity for 2019 . Shares of Holdings Performance Awards Weighted-Average Grant Date Shares of AXA Performance Awards Weighted-Average Grant Date Unvested as of January 1, 2019 166,552 $ 23.17 3,159,577 $ 20.10 Granted 243,041 $ 19.67 149,757 $ 20.70 Forfeited 25,952 $ 21.77 210,329 $ 20.20 Vested — $ — 944,945 $ 20.23 Unvested as of December 31, 2019 383,641 $ 21.05 2,154,059 $ 20.08

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Summary of income tax expense (benefit)	A summary of the income tax (expense) benefit in the consolidated statements of income (loss) follows: Years Ended December 31, 2019 2018 2017 (in millions) Income tax (expense) benefit: Current (expense) benefit $ 295 $ 234 $ (6 ) Deferred (expense) benefit 289 212 1,216 Total $ 584 $ 446 $ 1,210
Schedule of effective income tax rate reconciliation	The sources of the difference and their tax effects are as follows: Years Ended December 31, 2019 2018 2017 (in millions) Expected income tax (expense) benefit $ 510 $ 311 $ (542 ) Noncontrolling interest 1 (1 ) — Non-taxable investment income 73 104 241 Tax audit interest (14 ) (11 ) (6 ) State income taxes (2 ) (1 ) (3 ) Tax settlements/uncertain tax position release 12 — 221 Change in tax law — 46 1,308 Other 4 (2 ) (9 ) Income tax (expense) benefit $ 584 $ 446 $ 1,210
Schedule of net deferred income taxes	The components of the net deferred income taxes are as follows: As of December 31, 2019 2018 Assets Liabilities Assets Liabilities (in millions) Compensation and related benefits $ 51 $ — $ 47 $ — Net operating loss 44 — 239 — Reserves and reinsurance 944 — 16 — DAC — 716 — 864 Unrealized investment gains (losses) — 639 123 — Investments 640 — 622 — Tax credits — — 314 — Other — 73 14 — Total $ 1,679 $ 1,428 $ 1,375 $ 864
Unrecognized tax benefits reconciliation	A reconciliation of unrecognized tax benefits (excluding interest and penalties) follows: Years Ended December 31, 2019 2018 2017 (in millions) Balance at January 1, $ 273 $ 205 $ 444 Additions for tax positions of prior years 24 98 28 Reductions for tax positions of prior years — (30 ) (234 ) Settlements with tax authorities — — (33 ) Balance at December 31, $ 297 $ 273 $ 205 Unrecognized tax benefits that, if recognized, would impact the effective rate $ 222 $ 202 $ 172

EQUITY (Tables)

EQUITY (Tables)	12 Months Ended
	Dec. 31, 2019
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	AOCI represents cumulative gains (losses) on items that are not reflected in income (loss). The balances for the past three years follow: December 31, 2019 2018 2017 (in millions) Unrealized gains (losses) on investments (1) $ 1,597 $ (484 ) $ 581 Defined benefit pension plans (2) (5 ) (7 ) (51 ) Total accumulated other comprehensive income (loss) from continuing operations 1,592 (491 ) 530 Less: Accumulated other comprehensive income (loss) attributable to discontinued operations, net of noncontrolling interest — — (68 ) Accumulated other comprehensive income (loss) attributable to Equitable Life $ 1,592 $ (491 ) $ 598 ____________ (1) 2018 includes a $86 million decrease to Accumulated other comprehensive loss from the impact of adoption of ASU 2018-02. (2) 2018 includes a $3 million increase to Accumulated other comprehensive loss from the impact of adoption of ASU 2018-02.
Comprehensive Income (Loss)	The components of OCI, net of taxes for the years ended December 31, 2019 , 2018 and 2017 , net of tax, follow: Years Ended December 31, 2019 2018 2017 (in millions) Change in net unrealized gains (losses) on investments: Net unrealized gains (losses) arising during the year (3) $ 3,052 $ (1,663 ) $ 741 (Gains) losses reclassified to Net income (loss) during the year (1) (160 ) (4 ) 8 Net unrealized gains (losses) on investments 2,892 (1,667 ) 749 Adjustments for policyholders’ liabilities, DAC, insurance liability loss recognition and other (811 ) 437 (165 ) Change in unrealized gains (losses), net of adjustments (net of deferred income tax expense (benefit) of $547, $(310), and $244) 2,081 (1,230 ) 584 Change in defined benefit plans: Reclassification to Net income (loss) of amortization of net prior service credit included in net periodic cost (2) 2 (4 ) (5 ) Change in defined benefit plans (net of deferred income tax expense (benefit) of $0, $0, and $(2)) 2 (4 ) (5 ) Total other comprehensive income (loss), net of income taxes from continuing operations 2,083 (1,234 ) 579 Other comprehensive income (loss) from discontinued operations, net of income taxes (3) — — 23 Other comprehensive income (loss) attributable to Equitable Life $ 2,083 $ (1,234 ) $ 602 ____________ (1) See “Reclassification adjustments” in Note 3 . Reclassification amounts presented net of income tax expense (benefit) of $(43) million , $(1) million and $(5) million for the years ended December 31, 2019 , 2018 and 2017 , respectively. (2) These AOCI components are included in the computation of net periodic costs (see “Employee Benefit Plans” in Note 13 ). Reclassification amounts presented net of income tax expense (benefit) of $0 million , $0 million and $2 million for the years ended December 31, 2019 , 2018 and 2017 , respectively. (3) Includes reclassification related to Discontinued Operations in 2017 .

COMMITMENTS AND CONTINGENT LI_2

COMMITMENTS AND CONTINGENT LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Activity of Funding Agreements with FHLBNY	Change in FHLBNY Funding Agreements during the Years Ended December 31, 2019 and 2018 Outstanding Balance at December 31, 2018 Issued During the Period Repaid During the Period Long-term Agreements Maturing Within One Year Outstanding Balance at December 31, 2019 (in millions) Short-term funding agreements: Due in one year or less $ 1,640 $ 29,330 $ 26,420 $ 58 $ 4,608 Long-term funding agreements: Due in years two through five 1,569 — — 77 1,646 Due in more than five years 781 — — (135 ) 646 Total long-term funding agreements 2,350 — — (58 ) 2,292 Total funding agreements (1) $ 3,990 $ 29,330 $ 26,420 $ — $ 6,900 Outstanding Balance at December 31, 2017 Issued During the Period Repaid During the Period Long-term Agreements Maturing Within One Year Outstanding Balance at December 31, 2018 (in millions) Short-term funding agreements: Due in one year or less $ 500 7,980 $ 6,990 $ 150 $ 1,640 Long-term funding agreements: Due in years two through five 1,621 — — (52 ) 1,569 Due in more than five years 879 — — (98 ) 781 Total long-term funding agreements 2,500 — — (150 ) 2,350 Total funding agreements (1) $ 3,000 $ 7,980 $ 6,990 $ — $ 3,990 ____________ (1) The $9 million , $11 million and $14 million difference between the funding agreements carrying value shown in fair value table for 2019 , 2018 and 2017 , respectively, reflects the remaining amortization of a hedge implemented and closed, which locked in the funding agreements’ borrowing rates.

DISCONTINUED OPERATIONS (Tables

DISCONTINUED OPERATIONS (Tables)	12 Months Ended
	Dec. 31, 2019
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Including Discontinued Operations	The following table presents the amounts related to the Net income (loss) of AB that has been reflected in Discontinued operations: Years Ended December 31, 2018 2017 (in millions) REVENUES Net derivative gains (losses) $ 12 $ (24 ) Net investment income (loss) 24 142 Investment management and service fees 3,243 3,099 Other income — — Total revenues $ 3,279 $ 3,217 BENEFITS AND OTHER DEDUCTIONS Compensation and benefits $ 1,370 $ 1,307 Commissions and distribution related payments 427 415 Interest expense 8 6 Other operating costs and expenses 727 789 Total benefits and other deductions 2,532 2,517 Income (loss) from discontinued operations, before income taxes 747 700 Income tax (expense) benefit (69 ) (82 ) Net income (loss) from discontinued operations, net of taxes 678 618 Less: Net (income) loss attributable to the noncontrolling interest (564 ) (533 ) Net income (loss) from discontinued operations, net of taxes and noncontrolling interest $ 114 $ 85 The table below presents AB’s revenues recognized in 2018 and 2017 , disaggregated by category: Years Ended December 31, 2018 2017 (in millions) Investment management, advisory and service fees: Base fees $ 2,156 $ 2,025 Performance-based fees 118 95 Research services 439 450 Distribution services 419 412 Other revenues: Shareholder services 76 75 Other 35 42 Total investment management and service fees $ 3,243 $ 3,099

QUARTERLY FINANCIAL INFORMATI_2

QUARTERLY FINANCIAL INFORMATION (UNAUDITED) (Tables)	12 Months Ended
	Dec. 31, 2019
Quarterly Financial Data [Abstract]
Schedule of quarterly interim financial information	The unaudited quarterly financial information for the years ended December 31, 2019 and 2018 are summarized in the table below: Three Months Ended March 31 June 30 September 30 December 31 (in millions) 2019 Total revenues $ 690 $ 2,071 $ 1,946 $ 441 Total benefits and other deductions $ 1,680 $ 1,753 $ 2,383 $ 1,762 Net income (loss) $ (828 ) $ 265 $ (262 ) $ (1,021 ) 2018 Total revenues $ 1,139 $ 1,621 $ 27 $ 4,164 Total benefits and other deductions $ 1,512 $ 4,278 $ 763 $ 1,879 Net income (loss) $ (264 ) $ (2,084 ) $ (509 ) $ 1,936

REDEEMABLE NONCONTROLLING INT_2

REDEEMABLE NONCONTROLLING INTEREST (Tables)	12 Months Ended
	Dec. 31, 2019
Noncontrolling Interest [Abstract]
Redeemable Noncontrolling Interest	The changes in the components of redeemable noncontrolling interests were: Years Ended December 31, 2019 2018 2017 (in millions) Balance, beginning of period $ 39 $ 25 $ 10 Net earnings (loss) attributable to redeemable noncontrolling interests 5 (2 ) 1 Purchase/change of redeemable noncontrolling interests (5 ) 16 14 Balance, end of period $ 39 $ 39 $ 25

ORGANIZATION - Narrative (Detai

ORGANIZATION - Narrative (Details)	1 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2019
AXA Equity Holdings
Organization Basis Of Presentation [Line Items]
Ownership percentage		10.00%
AXA Financial
Organization Basis Of Presentation [Line Items]
Noncontrolling interest, ownership percentage	0.50%
Economic interest in subsidiary	100.00%

SIGNIFICANT ACCOUNTING POLICI_4

SIGNIFICANT ACCOUNTING POLICIES - New Accounting Pronouncements (Details) - USD ($) $ in Millions	Jan. 01, 2019	Dec. 31, 2019
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Right of use assets		$ 324
Operating lease liabilities		$ 415
Accounting Standards Update 2018-01
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Right of use assets	$ 347
Operating lease liabilities	439
Rent credit, deferred	58
Operating lease, impairment loss	$ 34

SIGNIFICANT ACCOUNTING POLICI_5

SIGNIFICANT ACCOUNTING POLICIES - Investments and Commercial and Agricultural Mortgage Loans on Real Estate (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)Rate	Dec. 31, 2018USD ($)
Mortgage Loans on Real Estate, Write-down or Reserve, Management Judgment Factor [Line Items]
Carrying value of COLI | $	$ 942	$ 873
Loan-to-value ratio for allowance to be recommended | Rate	100.00%
Debt service coverage ratio threshold	1
Minimum
Mortgage Loans on Real Estate, Write-down or Reserve, Management Judgment Factor [Line Items]
Lease expiration period	12 months
Mortgage loan maturity period for monitoring	12 months
Maximum
Mortgage Loans on Real Estate, Write-down or Reserve, Management Judgment Factor [Line Items]
Lease expiration period	36 months
Mortgage loan maturity period for monitoring	24 months
Real estate held for the production of income | Minimum
Mortgage Loans on Real Estate, Write-down or Reserve, Management Judgment Factor [Line Items]
Real estate held for the production of income, useful lives	40 years
Real estate held for the production of income | Maximum
Mortgage Loans on Real Estate, Write-down or Reserve, Management Judgment Factor [Line Items]
Real estate held for the production of income, useful lives	50 years

SIGNIFICANT ACCOUNTING POLICI_6

SIGNIFICANT ACCOUNTING POLICIES - Amortization Policy (Details)	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Average annual rate of return, gross	7.00%
Average annual rate of return, net	4.70%
Future annual rate of return, gross, maximum	15.00%
Future annual rate of return, net, maximum	12.70%
Future annual rate of return, gross, minimum	0.00%
Future annual rate of return, net, minimum	2.30%
Future annual rate of return assumption duration maximum	5 years
Assumed average investment yield excluding policy loans, high end	4.60%
Assumed average investment yield excluding policy loans, low end	4.30%
Period used in assumed average investment yield excluding policy loans	6 years

SIGNIFICANT ACCOUNTING POLICI_7

SIGNIFICANT ACCOUNTING POLICIES - Policyholders' Account Balances and Future Policy Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Liability For Future Policy Benefits Assumptions [Line Items]
Percentage of life insurance liabilities calculate within traditional life interest rate range	99.20%
Separate Accounts Disclosure [Abstract]
Gain (loss) recognized on assets transferred to separate account	$ 22,900	$ (7,200)	$ 16,700
Internal-use Software [Abstract]
Capitalized software, net	126	115
Amortization of capitalized software	$ 36	$ 35	$ 37
Minimum | Life Insurance Liabilities
Liability For Future Policy Benefits Assumptions [Line Items]
Liability for future policy benefits, interest rate	4.50%
Minimum | Annuity Liabilities
Liability For Future Policy Benefits Assumptions [Line Items]
Liability for policyholder contract deposits, interest rate	1.50%
Maximum | Life Insurance Liabilities
Liability For Future Policy Benefits Assumptions [Line Items]
Liability for future policy benefits, interest rate	6.30%
Maximum | Annuity Liabilities
Liability For Future Policy Benefits Assumptions [Line Items]
Liability for policyholder contract deposits, interest rate	5.50%
Weighted Average | Life Insurance Liabilities
Liability For Future Policy Benefits Assumptions [Line Items]
Liability for future policy benefits, interest rate	5.00%
Weighted Average | Annuity Liabilities
Liability For Future Policy Benefits Assumptions [Line Items]
Liability for policyholder contract deposits, interest rate	4.10%
Computer Software, Intangible Asset | Minimum
Internal-use Software [Abstract]
Intangible asset useful life	3 years
Computer Software, Intangible Asset | Maximum
Internal-use Software [Abstract]
Intangible asset useful life	5 years

SIGNIFICANT ACCOUNTING POLICI_8

SIGNIFICANT ACCOUNTING POLICIES - Accounting and Consolidation of Variable Interest Entities (VIEs) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)joint_venture	Dec. 31, 2018USD ($)joint_venture
Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Variable interest entity, consolidated, carrying amount, assets	$ 1,100	$ 1,100
Nonconsolidated VIE, carrying amount, assets	160,200	166,100
Maximum loss exposure, amount	1,100	1,100
Unfunded commitments	1,100	916
Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Variable interest entity, consolidated, carrying amount, assets	$ 32	$ 36
Number of consolidated real estate joint ventures | joint_venture	1	1
Variable interest entity, measure of activity, operating income or loss	$ (5)	$ 16
Number of non-consolidated real estate joint ventures | joint_venture	1	2

SIGNIFICANT ACCOUNTING POLICI_9

SIGNIFICANT ACCOUNTING POLICIES - Assumption Updates and Model Changes (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Change in Accounting Estimate [Line Items]
Policy charges and fee income									$ 3,450	$ 3,523	$ 3,294
Policyholders’ benefits increase (decrease)									4,119	3,005	3,473
Net derivative gains (losses)									(3,820)	(1,010)	870
Interest credited to policyholder's account balances									1,127	1,002	921
Amortization of deferred policy acquisition costs, net increase (decrease)									452	431	900
Income (loss) from operations, before income taxes									(2,430)	(1,481)	1,549
Net income (loss)	$ (1,021)	$ (262)	$ 265	$ (828)	$ 1,936	$ (509)	$ (2,084)	$ (264)	(1,846)	(921)	2,844
Increase (decrease) in the fair value of the reinsurance contract asset									$ 475	$ 8,500	174
Long-term Lapses, Partial Withdrawal Rates and Election Assumptions Updates
Change in Accounting Estimate [Line Items]
Policy charges and fee income		(11)				(12)					(88)
Policyholders’ benefits increase (decrease)		886				(684)					23
Net derivative gains (losses)		(548)				(1,100)
Interest credited to policyholder's account balances		14
Amortization of deferred policy acquisition costs, net increase (decrease)		(77)				(165)					(247)
Income (loss) from operations, before income taxes		(1,400)				(228)					1,700
Net income (loss)		$ (1,100)				$ (187)					1,100
Long-term Lapses, Partial Withdrawal Rates and Election Assumptions Updates | GMIB
Change in Accounting Estimate [Line Items]
Increase (decrease) in the fair value of the reinsurance contract asset											1,500
Increase (decrease) in fair value of policy liability											$ (447)

INVESTMENTS - Available-for-sal

INVESTMENTS - Available-for-sale Securities (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Debt Securities, Available-for-sale [Line Items]
Subtotal, Amortized Cost Basis	$ 59,278	$ 42,492
Gross Unrealized Gains	3,465	618
Gross Unrealized Losses	381	1,195
Fair Value	62,362	41,915
OTTI in AOCI	0	2
Available For Sale Fixed Maturities Proceeds Gross Gains And Gross Losses From Sales And Other Than Temporary Impairments [Abstract]
Proceeds from sales	8,702	7,136	$ 7,232
Gross gains on sales	229	145	98
Gross losses on sales	(28)	(103)	211
Total other-than-temporary impairment losses	0	(37)	(13)
Non-credit losses recognized in OCI	0	0	0
Credit losses recognized in net income (loss)	0	(37)	(13)
Fixed Maturities - Credit Loss Impairments
Beginning balance	12,428	19,492	14,528
Ending balance	11,658	12,428	19,492
Corporate
Debt Securities, Available-for-sale [Line Items]
Subtotal, Amortized Cost Basis	42,347	26,690
Gross Unrealized Gains	2,178	385
Gross Unrealized Losses	61	699
Fair Value	44,464	26,376
OTTI in AOCI	0	0
U.S. Treasury, government and agency
Debt Securities, Available-for-sale [Line Items]
Subtotal, Amortized Cost Basis	14,385	13,646
Gross Unrealized Gains	1,151	143
Gross Unrealized Losses	305	454
Fair Value	15,231	13,335
OTTI in AOCI	0	0
States and political subdivisions
Debt Securities, Available-for-sale [Line Items]
Subtotal, Amortized Cost Basis	584	408
Gross Unrealized Gains	68	47
Gross Unrealized Losses	3	1
Fair Value	649	454
OTTI in AOCI	0	0
Foreign governments
Debt Securities, Available-for-sale [Line Items]
Subtotal, Amortized Cost Basis	460	515
Gross Unrealized Gains	35	17
Gross Unrealized Losses	5	13
Fair Value	490	519
OTTI in AOCI	0	0
Residential mortgage-backed
Debt Securities, Available-for-sale [Line Items]
Subtotal, Amortized Cost Basis	161	193
Gross Unrealized Gains	12	9
Gross Unrealized Losses	0	0
Fair Value	173	202
OTTI in AOCI	0	0
Amortized Cost
Amortized Cost Basis, without Single Maturity Date	161
Fair Value
Fair Value, without Single Maturity Date	173
Asset-backed
Debt Securities, Available-for-sale [Line Items]
Subtotal, Amortized Cost Basis	843	600
Gross Unrealized Gains	3	1
Gross Unrealized Losses	2	11
Fair Value	844	590
OTTI in AOCI	0	2
Amortized Cost
Amortized Cost Basis, without Single Maturity Date	843
Fair Value
Fair Value, without Single Maturity Date	844
Redeemable preferred stock
Debt Securities, Available-for-sale [Line Items]
Subtotal, Amortized Cost Basis	498	440
Gross Unrealized Gains	18	16
Gross Unrealized Losses	5	17
Fair Value	511	439
OTTI in AOCI	0	0
Amortized Cost
Amortized Cost Basis, without Single Maturity Date	498
Fair Value
Fair Value, without Single Maturity Date	511
Fixed maturities
Debt Securities, Available-for-sale [Line Items]
Subtotal, Amortized Cost Basis	59,278	42,492
Amortized Cost
Due in one year or less, Amortized Cost	3,729
Due in years two through five, Amortized Cost	13,266
Due in years six through ten, Amortized Cost	16,527
Due after ten years, Amortized Cost	24,254
Subtotal, Amortized Cost Basis	57,776
Amortized Cost Basis, without Single Maturity Date	59,278
Fair Value
Due in one year or less, Fair Value	3,745
Due in years two through five, Fair Value	13,663
Due in years six through ten, Fair Value	17,606
Due after ten years, Fair Value	25,820
Subtotal, Fair Value	60,834
Fair Value, without Single Maturity Date	62,362
Accumulated Other-than-Temporary Impairment Attributable to Parent | Fixed maturities
Fixed Maturities - Credit Loss Impairments
Beginning balance	(46)	(10)
Previously recognized impairments on securities that matured, paid, prepaid or sold	31	1
Recognized impairments on securities impaired to fair value this period	0	0
Impairments recognized this period on securities not previously impaired	0	(37)
Additional impairments this period on securities previously impaired	0	0
Increases due to passage of time on previously recorded credit losses	0	0
Accretion of previously recognized impairments due to increases in expected cash flows	0	0
Ending balance	$ (15)	$ (46)	$ (10)

INVESTMENTS - Net Unrealized In

INVESTMENTS - Net Unrealized Investments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Jan. 01, 2018
Debt Securities, Available-for-sale, Net Unrealized Investments [Roll Forward]
Beginning balance	$ 12,428	$ 19,492	$ 14,528
DAC	870	(353)	211
Deferred income taxes	(547)	310	(244)
Ending balance	11,658	12,428	19,492
Unrealized gains (losses) on investments	1,597	(484)	581
Accounting Standards Update 2018-02
Debt Securities, Available-for-sale, Net Unrealized Investments [Roll Forward]
Unrealized gains (losses) on investments				$ 86
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent | Unrealized Investment Gains Losses All Other | Net Unrealized Gains (Losses) on Investments
Debt Securities, Available-for-sale, Net Unrealized Investments [Roll Forward]
Beginning balance	(577)	1,526
Net investment gains (losses) arising during the period	3,872	(2,098)
Included in Net income (loss)	(211)	(5)
Excluded from Net earnings (loss)	0	0
Net unrealized investment gains (losses) excluding OTTI losses	3,084	(577)
Net unrealized investment gains (losses) with OTTI losses	0	0
Ending balance	3,084	(577)	1,526
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent | Unrealized Investment Gains Losses All Other | DAC
Debt Securities, Available-for-sale, Net Unrealized Investments [Roll Forward]
Beginning balance	39	(315)
DAC	(870)	354
Net unrealized investment gains (losses) excluding OTTI losses	(831)	39
Ending balance	(831)	39	(315)
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent | Unrealized Investment Gains Losses All Other | Policyholders’ Liabilities
Debt Securities, Available-for-sale, Net Unrealized Investments [Roll Forward]
Beginning balance	(55)	(232)
Policyholders’ liabilities	(137)	177
Net unrealized investment gains (losses) excluding OTTI losses	(192)	(55)
Ending balance	(192)	(55)	(232)
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent | Unrealized Investment Gains Losses All Other | Deferred Income Tax Asset (Liability)
Debt Securities, Available-for-sale, Net Unrealized Investments [Roll Forward]
Beginning balance	125	(300)
Deferred income taxes	(558)	425
Net unrealized investment gains (losses) excluding OTTI losses	(433)	125
Ending balance	(433)	125	(300)
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent | Unrealized Investment Gains Losses All Other | AOCI Gain (Loss) Related to Net Unrealized Investment Gains (Losses)
Debt Securities, Available-for-sale, Net Unrealized Investments [Roll Forward]
Beginning balance	(468)	679
Net investment gains (losses) arising during the period	3,872	(2,098)
Included in Net income (loss)	(211)	(5)
Excluded from Net earnings (loss)	0	0
DAC	(870)	354
Deferred income taxes	(558)	425
Policyholders’ liabilities	(137)	177
Net unrealized investment gains (losses) excluding OTTI losses	1,628	(468)
Net unrealized investment gains (losses) with OTTI losses	0	0
Ending balance	$ 1,628	$ (468)	$ 679

INVESTMENTS - Available-for-s_2

INVESTMENTS - Available-for-sale Securities Fixed Maturities (Details) $ in Millions	Dec. 31, 2019USD ($)security	Dec. 31, 2018USD ($)security	Dec. 31, 2017USD ($)
Investments, Debt and Equity Securities [Abstract]
Number of unrealized loss positions | security	390	1,471
Available For Sale Securities Continuous Unrealized Loss Position [Line Items]
Less than 12 months, fair value	$ 7,396	$ 11,832
Less than 12 months, gross unrealized losses	349	400
12 months or longer, fair value	665	9,460
12 months or longer, gross unrealized losses	32	795
Fair value	8,061	21,292
Gross unrealized losses	$ 381	1,195
Investments In Fixed Maturity Securities Other Disclosure [Abstract]
Debt securities exposure in single issuer greater than stated percentage of total investments	0.60%
Debt securities, available-for-sale, amortized cost	$ 59,278	42,492
Unrealized loss on available for sale securities	21	30
12 months or longer, gross unrealized losses	32	795
Trading securities, at fair value	206	4	$ (125)
Separate account equity investment carrying value	58	48
Corporate
Available For Sale Securities Continuous Unrealized Loss Position [Line Items]
Less than 12 months, fair value	2,669	8,369
Less than 12 months, gross unrealized losses	41	306
12 months or longer, fair value	366	6,161
12 months or longer, gross unrealized losses	20	393
Fair value	3,035	14,530
Gross unrealized losses	61	699
Investments In Fixed Maturity Securities Other Disclosure [Abstract]
Exposure in single issuer of total investments	$ 279	$ 210
Debt securities exposure in single issuer of total investments, percentage	2.40%	1.70%
Debt securities, available-for-sale, amortized cost	$ 42,347	$ 26,690
12 months or longer, gross unrealized losses	20	393
U.S. Treasury, government and agency
Available For Sale Securities Continuous Unrealized Loss Position [Line Items]
Less than 12 months, fair value	4,245	2,636
Less than 12 months, gross unrealized losses	305	68
12 months or longer, fair value	2	3,154
12 months or longer, gross unrealized losses	0	386
Fair value	4,247	5,790
Gross unrealized losses	305	454
Investments In Fixed Maturity Securities Other Disclosure [Abstract]
Debt securities, available-for-sale, amortized cost	14,385	13,646
12 months or longer, gross unrealized losses	0	386
States and political subdivisions
Available For Sale Securities Continuous Unrealized Loss Position [Line Items]
Less than 12 months, fair value	123	0
Less than 12 months, gross unrealized losses	3	0
12 months or longer, fair value	0	19
12 months or longer, gross unrealized losses	0	1
Fair value	123	19
Gross unrealized losses	3	1
Investments In Fixed Maturity Securities Other Disclosure [Abstract]
Debt securities, available-for-sale, amortized cost	584	408
12 months or longer, gross unrealized losses	0	1
Foreign governments
Available For Sale Securities Continuous Unrealized Loss Position [Line Items]
Less than 12 months, fair value	11	109
Less than 12 months, gross unrealized losses	0	3
12 months or longer, fair value	47	76
12 months or longer, gross unrealized losses	5	10
Fair value	58	185
Gross unrealized losses	5	13
Investments In Fixed Maturity Securities Other Disclosure [Abstract]
Debt securities, available-for-sale, amortized cost	460	515
12 months or longer, gross unrealized losses	5	10
Residential mortgage-backed
Available For Sale Securities Continuous Unrealized Loss Position [Line Items]
Less than 12 months, fair value		0
Less than 12 months, gross unrealized losses		0
12 months or longer, fair value		13
12 months or longer, gross unrealized losses		0
Fair value		13
Gross unrealized losses		0
Investments In Fixed Maturity Securities Other Disclosure [Abstract]
Debt securities, available-for-sale, amortized cost	161	193
12 months or longer, gross unrealized losses		0
Asset-backed
Available For Sale Securities Continuous Unrealized Loss Position [Line Items]
Less than 12 months, fair value	319	558
Less than 12 months, gross unrealized losses	0	11
12 months or longer, fair value	201	6
12 months or longer, gross unrealized losses	2	0
Fair value	520	564
Gross unrealized losses	2	11
Investments In Fixed Maturity Securities Other Disclosure [Abstract]
Debt securities, available-for-sale, amortized cost	843	600
12 months or longer, gross unrealized losses	2	0
Redeemable preferred stock
Available For Sale Securities Continuous Unrealized Loss Position [Line Items]
Less than 12 months, fair value	29	160
Less than 12 months, gross unrealized losses	0	12
12 months or longer, fair value	49	31
12 months or longer, gross unrealized losses	5	5
Fair value	78	191
Gross unrealized losses	5	17
Investments In Fixed Maturity Securities Other Disclosure [Abstract]
Debt securities, available-for-sale, amortized cost	498	440
12 months or longer, gross unrealized losses	5	5
Fixed maturities
Investments In Fixed Maturity Securities Other Disclosure [Abstract]
Debt securities, available-for-sale, amortized cost	59,278	42,492
Fixed maturities | Other Than Investment Grade | External Credit Rating, Non Investment Grade
Investments In Fixed Maturity Securities Other Disclosure [Abstract]
Debt securities, available-for-sale securities, amortized cost basis other than investment grade	$ 1,400	$ 1,200
Percentage of available for sale securities	2.30%	2.90%
Fair Value, Recurring
Investments In Fixed Maturity Securities Other Disclosure [Abstract]
Trading securities, at fair value	$ 6,598	$ 15,166

INVESTMENTS - Mortgage Loans by

INVESTMENTS - Mortgage Loans by Loan-to-Value with Debt Service Coverage Ratios and Age Analysis of Past Due Mortgage Loans (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Individually evaluated for impairment	$ 0	$ 7
Commercial Mortgage Loans
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Recorded investment, nonaccrual status	0	19
Individually evaluated for impairment	0	7
Face amount of mortgage loans	9,373	9,130
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Past Due	0	27
Current	9,373	9,103
Total Financing Receivables	9,373	9,130
Recorded Investment 90 Days or More and Accruing	0	0
Commercial Mortgage Loans | 30-59 Days
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Past Due	0	0
Commercial Mortgage Loans | 60-89 Days
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Past Due	0	0
Commercial Mortgage Loans | 90 Days Or Greater
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Past Due	0	27
Commercial Mortgage Loans | Greater than 2.0x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	5,235	5,948
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	5,235	5,948
Commercial Mortgage Loans | 1.8x to 2.0x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	1,331	677
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	1,331	677
Commercial Mortgage Loans | 1.5x to 1.8x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	1,546	1,510
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	1,546	1,510
Commercial Mortgage Loans | 1.2x to 1.5x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	973	746
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	973	746
Commercial Mortgage Loans | 1.0x to 1.2x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	288	249
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	288	249
Commercial Mortgage Loans | Less than 1.0x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	0	0
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	0	0
Commercial Mortgage Loans | 0% - 50%
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	1,163	1,072
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	1,163	1,072
Commercial Mortgage Loans | 0% - 50% | Greater than 2.0x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	887	780
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	887	780
Commercial Mortgage Loans | 0% - 50% | 1.8x to 2.0x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	38	21
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	38	21
Commercial Mortgage Loans | 0% - 50% | 1.5x to 1.8x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	214	247
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	214	247
Commercial Mortgage Loans | 0% - 50% | 1.2x to 1.5x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	24	24
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	24	24
Commercial Mortgage Loans | 0% - 50% | 1.0x to 1.2x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	0	0
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	0	0
Commercial Mortgage Loans | 0% - 50% | Less than 1.0x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	0	0
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	0	0
Commercial Mortgage Loans | 50% - 70%
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	7,447	7,186
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	7,447	7,186
Commercial Mortgage Loans | 50% - 70% | Greater than 2.0x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	4,097	4,908
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	4,097	4,908
Commercial Mortgage Loans | 50% - 70% | 1.8x to 2.0x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	1,195	656
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	1,195	656
Commercial Mortgage Loans | 50% - 70% | 1.5x to 1.8x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	1,118	1,146
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	1,118	1,146
Commercial Mortgage Loans | 50% - 70% | 1.2x to 1.5x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	795	325
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	795	325
Commercial Mortgage Loans | 50% - 70% | 1.0x to 1.2x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	242	151
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	242	151
Commercial Mortgage Loans | 50% - 70% | Less than 1.0x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	0	0
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	0	0
Commercial Mortgage Loans | 70% - 90%
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	763	845
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	763	845
Commercial Mortgage Loans | 70% - 90% | Greater than 2.0x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	251	260
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	251	260
Commercial Mortgage Loans | 70% - 90% | 1.8x to 2.0x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	98	0
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	98	0
Commercial Mortgage Loans | 70% - 90% | 1.5x to 1.8x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	214	117
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	214	117
Commercial Mortgage Loans | 70% - 90% | 1.2x to 1.5x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	154	370
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	154	370
Commercial Mortgage Loans | 70% - 90% | 1.0x to 1.2x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	46	98
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	46	98
Commercial Mortgage Loans | 70% - 90% | Less than 1.0x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	0	0
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	0	0
Commercial Mortgage Loans | 90% plus
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	0	27
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	0	27
Commercial Mortgage Loans | 90% plus | Greater than 2.0x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	0	0
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	0	0
Commercial Mortgage Loans | 90% plus | 1.8x to 2.0x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	0	0
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	0	0
Commercial Mortgage Loans | 90% plus | 1.5x to 1.8x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	0	0
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	0	0
Commercial Mortgage Loans | 90% plus | 1.2x to 1.5x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	0	27
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	0	27
Commercial Mortgage Loans | 90% plus | 1.0x to 1.2x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	0	0
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	0	0
Commercial Mortgage Loans | 90% plus | Less than 1.0x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	0	0
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	0	0
Agricultural Mortgage Loans
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	2,717	2,695
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Past Due	124	68
Current	2,593	2,627
Total Financing Receivables	2,717	2,695
Recorded Investment 90 Days or More and Accruing	66	40
Agricultural Mortgage Loans | 30-59 Days
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Past Due	57	18
Agricultural Mortgage Loans | 60-89 Days
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Past Due	1	8
Agricultural Mortgage Loans | 90 Days Or Greater
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Past Due	66	42
Agricultural Mortgage Loans | Greater than 2.0x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	404	394
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	404	394
Agricultural Mortgage Loans | 1.8x to 2.0x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	191	193
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	191	193
Agricultural Mortgage Loans | 1.5x to 1.8x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	477	513
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	477	513
Agricultural Mortgage Loans | 1.2x to 1.5x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	990	941
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	990	941
Agricultural Mortgage Loans | 1.0x to 1.2x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	572	572
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	572	572
Agricultural Mortgage Loans | Less than 1.0x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	83	82
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	83	82
Agricultural Mortgage Loans | 0% - 50%
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	1,583	1,611
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	1,583	1,611
Agricultural Mortgage Loans | 0% - 50% | Greater than 2.0x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	322	282
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	322	282
Agricultural Mortgage Loans | 0% - 50% | 1.8x to 2.0x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	104	147
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	104	147
Agricultural Mortgage Loans | 0% - 50% | 1.5x to 1.8x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	241	267
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	241	267
Agricultural Mortgage Loans | 0% - 50% | 1.2x to 1.5x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	545	543
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	545	543
Agricultural Mortgage Loans | 0% - 50% | 1.0x to 1.2x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	321	321
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	321	321
Agricultural Mortgage Loans | 0% - 50% | Less than 1.0x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	50	51
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	50	51
Agricultural Mortgage Loans | 50% - 70%
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	1,115	1,038
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	1,115	1,038
Agricultural Mortgage Loans | 50% - 70% | Greater than 2.0x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	82	112
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	82	112
Agricultural Mortgage Loans | 50% - 70% | 1.8x to 2.0x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	87	46
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	87	46
Agricultural Mortgage Loans | 50% - 70% | 1.5x to 1.8x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	236	246
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	236	246
Agricultural Mortgage Loans | 50% - 70% | 1.2x to 1.5x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	426	379
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	426	379
Agricultural Mortgage Loans | 50% - 70% | 1.0x to 1.2x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	251	224
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	251	224
Agricultural Mortgage Loans | 50% - 70% | Less than 1.0x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	33	31
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	33	31
Agricultural Mortgage Loans | 70% - 90%
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	19	46
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	19	46
Agricultural Mortgage Loans | 70% - 90% | Greater than 2.0x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	0	0
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	0	0
Agricultural Mortgage Loans | 70% - 90% | 1.8x to 2.0x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	0	0
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	0	0
Agricultural Mortgage Loans | 70% - 90% | 1.5x to 1.8x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	0	0
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	0	0
Agricultural Mortgage Loans | 70% - 90% | 1.2x to 1.5x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	19	19
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	19	19
Agricultural Mortgage Loans | 70% - 90% | 1.0x to 1.2x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	0	27
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	0	27
Agricultural Mortgage Loans | 70% - 90% | Less than 1.0x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	0	0
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	0	0
Agricultural Mortgage Loans | 90% plus
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	0	0
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	0	0
Agricultural Mortgage Loans | 90% plus | Greater than 2.0x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	0	0
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	0	0
Agricultural Mortgage Loans | 90% plus | 1.8x to 2.0x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	0	0
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	0	0
Agricultural Mortgage Loans | 90% plus | 1.5x to 1.8x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	0	0
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	0	0
Agricultural Mortgage Loans | 90% plus | 1.2x to 1.5x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	0	0
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	0	0
Agricultural Mortgage Loans | 90% plus | 1.0x to 1.2x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	0	0
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	0	0
Agricultural Mortgage Loans | 90% plus | Less than 1.0x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	0	0
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	0	0
Total Mortgages Loan
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	12,090	11,825
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Past Due	124	95
Current	11,966	11,730
Total Financing Receivables	12,090	11,825
Recorded Investment 90 Days or More and Accruing	66	40
Total Mortgages Loan | 30-59 Days
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Past Due	57	18
Total Mortgages Loan | 60-89 Days
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Past Due	1	8
Total Mortgages Loan | 90 Days Or Greater
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Past Due	66	69
Total Mortgages Loan | Greater than 2.0x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	5,639	6,342
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	5,639	6,342
Total Mortgages Loan | 1.8x to 2.0x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	1,522	870
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	1,522	870
Total Mortgages Loan | 1.5x to 1.8x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	2,023	2,023
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	2,023	2,023
Total Mortgages Loan | 1.2x to 1.5x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	1,963	1,687
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	1,963	1,687
Total Mortgages Loan | 1.0x to 1.2x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	860	821
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	860	821
Total Mortgages Loan | Less than 1.0x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	83	82
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	83	82
Total Mortgages Loan | 0% - 50%
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	2,746	2,683
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	2,746	2,683
Total Mortgages Loan | 0% - 50% | Greater than 2.0x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	1,209	1,062
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	1,209	1,062
Total Mortgages Loan | 0% - 50% | 1.8x to 2.0x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	142	168
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	142	168
Total Mortgages Loan | 0% - 50% | 1.5x to 1.8x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	455	514
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	455	514
Total Mortgages Loan | 0% - 50% | 1.2x to 1.5x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	569	567
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	569	567
Total Mortgages Loan | 0% - 50% | 1.0x to 1.2x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	321	321
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	321	321
Total Mortgages Loan | 0% - 50% | Less than 1.0x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	50	51
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	50	51
Total Mortgages Loan | 50% - 70%
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	8,562	8,224
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	8,562	8,224
Total Mortgages Loan | 50% - 70% | Greater than 2.0x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	4,179	5,020
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	4,179	5,020
Total Mortgages Loan | 50% - 70% | 1.8x to 2.0x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	1,282	702
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	1,282	702
Total Mortgages Loan | 50% - 70% | 1.5x to 1.8x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	1,354	1,392
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	1,354	1,392
Total Mortgages Loan | 50% - 70% | 1.2x to 1.5x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	1,221	704
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	1,221	704
Total Mortgages Loan | 50% - 70% | 1.0x to 1.2x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	493	375
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	493	375
Total Mortgages Loan | 50% - 70% | Less than 1.0x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	33	31
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	33	31
Total Mortgages Loan | 70% - 90%
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	782	891
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	782	891
Total Mortgages Loan | 70% - 90% | Greater than 2.0x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	251	260
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	251	260
Total Mortgages Loan | 70% - 90% | 1.8x to 2.0x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	98	0
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	98	0
Total Mortgages Loan | 70% - 90% | 1.5x to 1.8x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	214	117
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	214	117
Total Mortgages Loan | 70% - 90% | 1.2x to 1.5x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	173	389
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	173	389
Total Mortgages Loan | 70% - 90% | 1.0x to 1.2x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	46	125
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	46	125
Total Mortgages Loan | 70% - 90% | Less than 1.0x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	0	0
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	0	0
Total Mortgages Loan | 90% plus
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	0	27
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	0	27
Total Mortgages Loan | 90% plus | Greater than 2.0x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	0	0
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	0	0
Total Mortgages Loan | 90% plus | 1.8x to 2.0x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	0	0
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	0	0
Total Mortgages Loan | 90% plus | 1.5x to 1.8x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	0	0
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	0	0
Total Mortgages Loan | 90% plus | 1.2x to 1.5x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	0	27
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	0	27
Total Mortgages Loan | 90% plus | 1.0x to 1.2x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	0	0
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	0	0
Total Mortgages Loan | 90% plus | Less than 1.0x
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face amount of mortgage loans	0	0
Financing Receivable, Recorded Investment, Aging [Abstract]
Total Financing Receivables	$ 0	$ 0

INVESTMENTS - Net Investment In

INVESTMENTS - Net Investment Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Net Investment Income [Line Items]
Investment income	$ 3,442	$ 2,549	$ 2,506
Investment expenses	(144)	(71)	(65)
Net investment income (loss)	3,298	2,478	2,441
Fixed maturities
Net Investment Income [Line Items]
Investment income	1,902	1,540	1,365
Mortgage loans on real estate
Net Investment Income [Line Items]
Investment income	540	494	453
Real estate held for the production of income
Net Investment Income [Line Items]
Investment income	(2)	(6)	2
Other equity investments
Net Investment Income [Line Items]
Investment income	74	123	169
Policy loans
Net Investment Income [Line Items]
Investment income	198	201	205
Trading securities
Net Investment Income [Line Items]
Investment income	712	128	258
Other investment income
Net Investment Income [Line Items]
Investment income	$ 18	$ 69	$ 54

INVESTMENTS - Trading Securitie

INVESTMENTS - Trading Securities (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Investments, Debt and Equity Securities [Abstract]
Net investment gains (losses) recognized during the period on securities held at the end of the period	$ 422	$ (174)	$ 63
Net investment gains (losses) recognized on securities sold during the period	7	(24)	(19)
Unrealized and realized gains (losses) on trading securities	429	(198)	44
Interest and dividend income from trading securities	283	326	214
Net investment income (loss) from trading securities	$ 712	$ 128	$ 258

INVESTMENTS - Investment Gains

INVESTMENTS - Investment Gains (Losses), Net (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Schedule of Investments [Line Items]
Trading securities, at fair value	$ 206	$ 4	$ (125)
Expense in securities sold under agreement to repurchase	2	3	3
Fixed maturities
Schedule of Investments [Line Items]
Trading securities, at fair value	203	6	(130)
Mortgage loans on real estate
Schedule of Investments [Line Items]
Trading securities, at fair value	(1)	0	2
Real estate held for the production of income
Schedule of Investments [Line Items]
Trading securities, at fair value	3	0	0
Other equity investments
Schedule of Investments [Line Items]
Trading securities, at fair value	0	0	3
Other
Schedule of Investments [Line Items]
Trading securities, at fair value	$ 1	$ (2)	$ 0

DERIVATIVES - Narrative (Detail

DERIVATIVES - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Derivative [Line Items]
Liability derivatives	$ 16,948	$ 9,226
Collateralized derivative transactions	72	3
Securities sold under agreements to repurchase	0	573
US Treasury Securities
Derivative [Line Items]
Marketable securities	3,900
Total Return Swap
Derivative [Line Items]
Marketable securities	121
Collateral
Derivative [Line Items]
Liability derivatives	3,000	$ 1,600
S&P 500, Russell 1000, NASDAQ 100 and Emerging Market Indices
Derivative [Line Items]
Initial margin requirements	58
Us Treasury Notes Ultra Long Bonds And Euro Dollar
Derivative [Line Items]
Initial margin requirements	165
Euro Stoxx, FTSE100, EAFE And Topix Indices
Derivative [Line Items]
Initial margin requirements	$ 60

DERIVATIVES - Derivatives by Ca

DERIVATIVES - Derivatives by Category (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Derivatives, Fair Value [Line Items]
Notional amount	$ 117,398	$ 81,636
Asset Derivatives	8,271	4,936
Liability Derivatives	16,948	9,226
Gains (Losses) Reported In Net Income (Loss)	(3,820)	(1,010)
Futures
Derivatives, Fair Value [Line Items]
Notional amount	3,510	10,411
Asset Derivatives	0	0
Liability Derivatives	0	0
Gains (Losses) Reported In Net Income (Loss)	(1,294)	550
Swaps
Derivatives, Fair Value [Line Items]
Notional amount	17,064	7,697
Asset Derivatives	9	140
Liability Derivatives	279	168
Gains (Losses) Reported In Net Income (Loss)	(2,405)	675
Options
Derivatives, Fair Value [Line Items]
Notional amount	47,766	21,698
Asset Derivatives	5,080	2,119
Liability Derivatives	1,749	1,163
Gains (Losses) Reported In Net Income (Loss)	2,211	(899)
Swaps
Derivatives, Fair Value [Line Items]
Notional amount	23,700	27,003
Asset Derivatives	467	632
Liability Derivatives	523	194
Gains (Losses) Reported In Net Income (Loss)	2,037	(456)
Futures
Derivatives, Fair Value [Line Items]
Notional amount	20,424	11,448
Asset Derivatives	0	0
Liability Derivatives	0	0
Gains (Losses) Reported In Net Income (Loss)	139	118
Swaptions
Derivatives, Fair Value [Line Items]
Notional amount	3,201
Asset Derivatives	16
Liability Derivatives	0
Gains (Losses) Reported In Net Income (Loss)	(35)
Credit default swaps
Derivatives, Fair Value [Line Items]
Notional amount	1,232	1,282
Asset Derivatives	18	17
Liability Derivatives	0	0
Gains (Losses) Reported In Net Income (Loss)	16	(3)
Foreign currency contracts
Derivatives, Fair Value [Line Items]
Notional amount	501	2,097
Asset Derivatives	3	27
Liability Derivatives	0	14
Gains (Losses) Reported In Net Income (Loss)	(9)	6
Collateral
Derivatives, Fair Value [Line Items]
Notional amount	0	0
Asset Derivatives	140	7
Liability Derivatives	0	5
Gains (Losses) Reported In Net Income (Loss)	0	0
Margin
Derivatives, Fair Value [Line Items]
Notional amount	0	0
Asset Derivatives	72	3
Liability Derivatives	3,001	1,564
Gains (Losses) Reported In Net Income (Loss)	0	0
GMIB Reinsurance Contracts
Derivatives, Fair Value [Line Items]
Notional amount	0	0
Asset Derivatives	2,466	1,991
Liability Derivatives	0	0
Gains (Losses) Reported In Net Income (Loss)	500	(1,068)
GMxB Derivative Features’ Liability
Derivatives, Fair Value [Line Items]
Notional amount	0	0
Asset Derivatives	0	0
Liability Derivatives	8,246	5,431
Gains (Losses) Reported In Net Income (Loss)	(2,428)	(786)
SCS, SIO, MSO and IUL Indexed Features
Derivatives, Fair Value [Line Items]
Notional amount	0	0
Asset Derivatives	0	0
Liability Derivatives	3,150	687
Gains (Losses) Reported In Net Income (Loss)	$ (2,552)	$ 853

DERIVATIVES - Offsetting of Fin

DERIVATIVES - Offsetting of Financial Assets and Liabilities and Derivative Instruments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2019
Securities Sold under Agreements to Repurchase
Net Amount Presented in the Balance Sheets	$ 573	$ 0
Interest expense, securities sold under agreements to repurchase	2
Total derivatives
Assets
Gross Amount Recognized	2,946	5,804
Gross Amount Offset in the Balance Sheets	2,912	5,429
Net Amount Presented in the Balance Sheets	34	375
Gross Amount not Offset in the Balance Sheets	0	(77)
Net Amount	34	298
Liabilities
Gross Amount Recognized	3,109	5,474
Gross Amount Offset in the Balance Sheets	2,912	5,429
Net Amount Presented in the Balance Sheets	197	45
Gross Amount not Offset in the Balance Sheets	0	0
Net Amount	197	45
Other financial instruments
Assets
Gross Amount Recognized	1,520	1,754
Gross Amount Offset in the Balance Sheets	0	0
Net Amount Presented in the Balance Sheets	1,520	1,754
Gross Amount not Offset in the Balance Sheets	0	0
Net Amount	1,520	1,754
Other invested assets
Assets
Gross Amount Recognized	4,466	7,558
Gross Amount Offset in the Balance Sheets	2,912	5,429
Net Amount Presented in the Balance Sheets	1,554	2,129
Gross Amount not Offset in the Balance Sheets	0	(77)
Net Amount	1,554	2,052
Other financial liabilities
Liabilities
Gross Amount Recognized	1,263	1,723
Gross Amount Offset in the Balance Sheets	0	0
Net Amount Presented in the Balance Sheets	1,263	1,723
Gross Amount not Offset in the Balance Sheets	0	0
Net Amount	1,263	1,723
Other liabilities
Liabilities
Gross Amount Recognized	4,372	7,197
Gross Amount Offset in the Balance Sheets	2,912	5,429
Net Amount Presented in the Balance Sheets	1,460	1,768
Gross Amount not Offset in the Balance Sheets	0	0
Net Amount	1,460	$ 1,768
Securities sold under agreement to repurchase
Securities Sold under Agreements to Repurchase
Gross Amount Recognized	571
Gross Amount Offset in the Balance Sheets	0
Net Amount Presented in the Balance Sheets	571
Gross Amount not Offset in the Balance Sheets	(588)
Net Amount	$ (17)

DERIVATIVES - Repurchase Agreem

DERIVATIVES - Repurchase Agreements (Details) $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)
Assets Sold under Agreements to Repurchase [Line Items]
Securities sold under agreement to repurchase	$ 571
Interest expense, securities sold under agreements to repurchase	2
Overnight and Continuous
Assets Sold under Agreements to Repurchase [Line Items]
Securities sold under agreement to repurchase	0
Up to 30 days
Assets Sold under Agreements to Repurchase [Line Items]
Securities sold under agreement to repurchase	571
30–90 days
Assets Sold under Agreements to Repurchase [Line Items]
Securities sold under agreement to repurchase	0
Greater Than 90 days
Assets Sold under Agreements to Repurchase [Line Items]
Securities sold under agreement to repurchase	0
U.S. Treasury, government and agency
Assets Sold under Agreements to Repurchase [Line Items]
Securities sold under agreement to repurchase	571
U.S. Treasury, government and agency | Overnight and Continuous
Assets Sold under Agreements to Repurchase [Line Items]
Securities sold under agreement to repurchase	0
U.S. Treasury, government and agency | Up to 30 days
Assets Sold under Agreements to Repurchase [Line Items]
Securities sold under agreement to repurchase	571
U.S. Treasury, government and agency | 30–90 days
Assets Sold under Agreements to Repurchase [Line Items]
Securities sold under agreement to repurchase	0
U.S. Treasury, government and agency | Greater Than 90 days
Assets Sold under Agreements to Repurchase [Line Items]
Securities sold under agreement to repurchase	$ 0

CLOSED BLOCK (Details)

CLOSED BLOCK (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2019	Dec. 31, 2018
Closed Block Liabilities:
Future policy benefits, policyholders’ account balances and other				$ 6,478	$ 6,709
Policyholder dividend obligation	$ 2	$ 0	$ 19	2	0
Other liabilities				38	47
Total Closed Block liabilities				6,518	6,756
Assets Designated to the Closed Block:
Fixed maturities available-for-sale, at fair value (amortized cost of $3,558 and $3,680)				3,754	3,672
Mortgage loans on real estate, net of valuation allowance of $- and $-				1,759	1,824
Policy loans				706	736
Cash and other invested assets				82	76
Other assets				145	179
Total assets designated to the Closed Block				6,446	6,487
Excess of Closed Block liabilities over assets designated to the Closed Block				72	269
Amounts included in Accumulated other comprehensive income (loss):
Net unrealized investment gains (losses), net of policyholders’ dividend obligation: $(2) and $0; and net of income tax: $41 and $0				164	8
Maximum future earnings to be recognized from closed block assets and liabilities				236	277
Revenues:
Premiums and other income	182	194	224
Net investment income (loss)	278	291	314
Investment gains (losses), net	(1)	(3)	(20)
Total revenues	459	482	518
Benefits and Other Deductions:
Policyholders’ benefits and dividends	439	471	537
Other operating costs and expenses	2	3	2
Total benefits and other deductions	441	474	539
Net income (loss), before income taxes	18	8	(21)
Income tax (expense) benefit	(2)	(3)	(36)
Net income (loss)	16	5	(57)
Movement in Closed Block Dividend Obligation [Roll Forward]
Balances, beginning of year	0	19	52
Unrealized investment gains (losses)	2	(19)	(33)
Balances, End of year	2	0	19
Policyholder dividend obligation	$ (2)	$ 0	$ (19)	(2)	0
Closed block operations, income taxes				41	0
Closed block investments fixed maturity available for sale amortized cost				3,588	3,680
Closed block, mortgage loans on real estate, valuation allowance				$ 0	$ 0

DAC AND POLICYHOLDER BONUS IN_3

DAC AND POLICYHOLDER BONUS INTEREST CREDITS - Rollforward of DAC Costs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance, beginning of year	$ 5,011	$ 4,492	$ 5,025
Capitalization of commissions, sales and issue expenses	648	597	578
Amortization:
Impact of assumptions updates and model changes	77	165	(247)
All other	(529)	(596)	(653)
Amortization	(452)	(431)	(900)
Change in unrealized investment gains (losses)	(870)	353	(211)
Balance, End of Year	$ 4,337	$ 5,011	$ 4,492

DAC AND POLICYHOLDER BONUS IN_4

DAC AND POLICYHOLDER BONUS INTEREST CREDITS - Rollforward of DAC Credits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Changes in the deferred asset for contractholder bonus interest credits
Balance, beginning of year	$ 426	$ 473	$ 504
Policyholder bonus interest credits deferred	0	4	6
Amortization charged to income	5	(51)	(37)
Balance, End of Year	$ 431	$ 426	$ 473

FAIR VALUE DISCLOSURES - SCHEDU

FAIR VALUE DISCLOSURES - SCHEDULES OF ASSETS AND LIABILITIES MEASURED ON RECURRING BASIS (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Assets, Fair Value Disclosure [Abstract]
Fair Value	$ 62,362	$ 41,915
Trading securities	206	4	$ (125)
Fair Value, Recurring
Assets, Fair Value Disclosure [Abstract]
Fair Value	62,362	41,915
Other equity investments	13	12
Trading securities	6,598	15,166
Other invested assets:	3,507	1,827
Cash equivalents	1,155	2,160
GMIB reinsurance contracts asset	2,466	1,991
Separate Accounts assets	124,061	107,913
Total Assets	200,162	170,984
Liabilities, Fair Value Disclosure [Abstract]
Total Liabilities	11,396	6,118
Fair Value, Recurring | Level 1
Assets, Fair Value Disclosure [Abstract]
Fair Value	237	163
Other equity investments	13	12
Trading securities	321	218
Other invested assets:	0	0
Cash equivalents	1,155	2,160
GMIB reinsurance contracts asset	0	0
Separate Accounts assets	121,184	105,159
Total Assets	122,910	107,712
Liabilities, Fair Value Disclosure [Abstract]
Total Liabilities	0	0
Fair Value, Recurring | Level 2
Assets, Fair Value Disclosure [Abstract]
Fair Value	60,740	40,021
Other equity investments	0	0
Trading securities	6,277	14,919
Other invested assets:	3,491	1,808
Cash equivalents	0	0
GMIB reinsurance contracts asset	0	0
Separate Accounts assets	2,878	2,733
Total Assets	73,386	59,481
Liabilities, Fair Value Disclosure [Abstract]
Total Liabilities	3,150	687
Fair Value, Recurring | Level 3
Assets, Fair Value Disclosure [Abstract]
Fair Value	1,385	1,731
Other equity investments	0	0
Trading securities	0	29
Other invested assets:	16	19
Cash equivalents	0	0
GMIB reinsurance contracts asset	2,466	1,991
Separate Accounts assets	0	21
Total Assets	3,867	3,791
Liabilities, Fair Value Disclosure [Abstract]
Total Liabilities	8,246	5,431
Fair Value, Recurring | Fair Value Measured at Net Asset Value Per Share\
Assets, Fair Value Disclosure [Abstract]
Separate Accounts assets	356	353
Corporate | Fair Value, Recurring
Assets, Fair Value Disclosure [Abstract]
Fair Value	44,464	26,376
Corporate | Fair Value, Recurring | Level 1
Assets, Fair Value Disclosure [Abstract]
Fair Value	0	0
Corporate | Fair Value, Recurring | Level 2
Assets, Fair Value Disclosure [Abstract]
Fair Value	43,218	25,202
Corporate | Fair Value, Recurring | Level 3
Assets, Fair Value Disclosure [Abstract]
Fair Value	1,246	1,174
U.S. Treasury, government and agency
Assets, Fair Value Disclosure [Abstract]
Fair Value	15,231	13,335
U.S. Treasury, government and agency | Fair Value, Recurring
Assets, Fair Value Disclosure [Abstract]
Fair Value	15,231	13,335
U.S. Treasury, government and agency | Fair Value, Recurring | Level 1
Assets, Fair Value Disclosure [Abstract]
Fair Value	0	0
U.S. Treasury, government and agency | Fair Value, Recurring | Level 2
Assets, Fair Value Disclosure [Abstract]
Fair Value	15,231	13,335
U.S. Treasury, government and agency | Fair Value, Recurring | Level 3
Assets, Fair Value Disclosure [Abstract]
Fair Value	0	0
States and political subdivisions
Assets, Fair Value Disclosure [Abstract]
Fair Value	649	454
States and political subdivisions | Fair Value, Recurring
Assets, Fair Value Disclosure [Abstract]
Fair Value	649	454
States and political subdivisions | Fair Value, Recurring | Level 1
Assets, Fair Value Disclosure [Abstract]
Fair Value	0	0
States and political subdivisions | Fair Value, Recurring | Level 2
Assets, Fair Value Disclosure [Abstract]
Fair Value	610	416
States and political subdivisions | Fair Value, Recurring | Level 3
Assets, Fair Value Disclosure [Abstract]
Fair Value	39	38
Foreign governments
Assets, Fair Value Disclosure [Abstract]
Fair Value	490	519
Foreign governments | Fair Value, Recurring
Assets, Fair Value Disclosure [Abstract]
Fair Value	490	519
Foreign governments | Fair Value, Recurring | Level 1
Assets, Fair Value Disclosure [Abstract]
Fair Value	0	0
Foreign governments | Fair Value, Recurring | Level 2
Assets, Fair Value Disclosure [Abstract]
Fair Value	490	519
Foreign governments | Fair Value, Recurring | Level 3
Assets, Fair Value Disclosure [Abstract]
Fair Value	0	0
Residential mortgage-backed
Assets, Fair Value Disclosure [Abstract]
Fair Value	173	202
Residential mortgage-backed | Fair Value, Recurring
Assets, Fair Value Disclosure [Abstract]
Fair Value	173	202
Residential mortgage-backed | Fair Value, Recurring | Level 1
Assets, Fair Value Disclosure [Abstract]
Fair Value	0	0
Residential mortgage-backed | Fair Value, Recurring | Level 2
Assets, Fair Value Disclosure [Abstract]
Fair Value	173	202
Residential mortgage-backed | Fair Value, Recurring | Level 3
Assets, Fair Value Disclosure [Abstract]
Fair Value	0	0
Asset-backed
Assets, Fair Value Disclosure [Abstract]
Fair Value	844	590
Asset-backed | Fair Value, Recurring
Assets, Fair Value Disclosure [Abstract]
Fair Value	844	590
Asset-backed | Fair Value, Recurring | Level 1
Assets, Fair Value Disclosure [Abstract]
Fair Value	0	0
Asset-backed | Fair Value, Recurring | Level 2
Assets, Fair Value Disclosure [Abstract]
Fair Value	744	71
Asset-backed | Fair Value, Recurring | Level 3
Assets, Fair Value Disclosure [Abstract]
Fair Value	100	519
Redeemable preferred stock
Assets, Fair Value Disclosure [Abstract]
Fair Value	511	439
Redeemable preferred stock | Fair Value, Recurring
Assets, Fair Value Disclosure [Abstract]
Fair Value	511	439
Redeemable preferred stock | Fair Value, Recurring | Level 1
Assets, Fair Value Disclosure [Abstract]
Fair Value	237	163
Redeemable preferred stock | Fair Value, Recurring | Level 2
Assets, Fair Value Disclosure [Abstract]
Fair Value	274	276
Redeemable preferred stock | Fair Value, Recurring | Level 3
Assets, Fair Value Disclosure [Abstract]
Fair Value	0	0
Short-term investments | Fair Value, Recurring
Assets, Fair Value Disclosure [Abstract]
Other invested assets:	468	412
Short-term investments | Fair Value, Recurring | Level 1
Assets, Fair Value Disclosure [Abstract]
Other invested assets:	0	0
Short-term investments | Fair Value, Recurring | Level 2
Assets, Fair Value Disclosure [Abstract]
Other invested assets:	468	412
Short-term investments | Fair Value, Recurring | Level 3
Assets, Fair Value Disclosure [Abstract]
Other invested assets:	0	0
Assets of consolidated VIEs/VOEs | Fair Value, Recurring
Assets, Fair Value Disclosure [Abstract]
Other invested assets:	16	19
Assets of consolidated VIEs/VOEs | Fair Value, Recurring | Level 1
Assets, Fair Value Disclosure [Abstract]
Other invested assets:	0	0
Assets of consolidated VIEs/VOEs | Fair Value, Recurring | Level 2
Assets, Fair Value Disclosure [Abstract]
Other invested assets:	0	0
Assets of consolidated VIEs/VOEs | Fair Value, Recurring | Level 3
Assets, Fair Value Disclosure [Abstract]
Other invested assets:	16	19
Swaps | Fair Value, Recurring
Assets, Fair Value Disclosure [Abstract]
Other invested assets:	(326)	423
Swaps | Fair Value, Recurring | Level 1
Assets, Fair Value Disclosure [Abstract]
Other invested assets:	0	0
Swaps | Fair Value, Recurring | Level 2
Assets, Fair Value Disclosure [Abstract]
Other invested assets:	(326)	423
Swaps | Fair Value, Recurring | Level 3
Assets, Fair Value Disclosure [Abstract]
Other invested assets:	0	0
Credit default swaps | Fair Value, Recurring
Assets, Fair Value Disclosure [Abstract]
Other invested assets:	18	17
Credit default swaps | Fair Value, Recurring | Level 1
Assets, Fair Value Disclosure [Abstract]
Other invested assets:	0	0
Credit default swaps | Fair Value, Recurring | Level 2
Assets, Fair Value Disclosure [Abstract]
Other invested assets:	18	17
Credit default swaps | Fair Value, Recurring | Level 3
Assets, Fair Value Disclosure [Abstract]
Other invested assets:	0	0
Options | Fair Value, Recurring
Assets, Fair Value Disclosure [Abstract]
Other invested assets:	3,331	956
Options | Fair Value, Recurring | Level 1
Assets, Fair Value Disclosure [Abstract]
Other invested assets:	0	0
Options | Fair Value, Recurring | Level 2
Assets, Fair Value Disclosure [Abstract]
Other invested assets:	3,331	956
Options | Fair Value, Recurring | Level 3
Assets, Fair Value Disclosure [Abstract]
Other invested assets:	0	0
GMxB derivative features’ liability | Fair Value, Recurring
Liabilities, Fair Value Disclosure [Abstract]
Liabilities	8,246	5,431
GMxB derivative features’ liability | Fair Value, Recurring | Level 1
Liabilities, Fair Value Disclosure [Abstract]
Liabilities	0	0
GMxB derivative features’ liability | Fair Value, Recurring | Level 2
Liabilities, Fair Value Disclosure [Abstract]
Liabilities	0	0
GMxB derivative features’ liability | Fair Value, Recurring | Level 3
Liabilities, Fair Value Disclosure [Abstract]
Liabilities	8,246	5,431
SCS, SIO, MSO and IUL indexed features’ liability | Fair Value, Recurring
Liabilities, Fair Value Disclosure [Abstract]
Liabilities	3,150	687
SCS, SIO, MSO and IUL indexed features’ liability | Fair Value, Recurring | Level 1
Liabilities, Fair Value Disclosure [Abstract]
Liabilities	0	0
SCS, SIO, MSO and IUL indexed features’ liability | Fair Value, Recurring | Level 2
Liabilities, Fair Value Disclosure [Abstract]
Liabilities	3,150	687
SCS, SIO, MSO and IUL indexed features’ liability | Fair Value, Recurring | Level 3
Liabilities, Fair Value Disclosure [Abstract]
Liabilities	$ 0	$ 0

FAIR VALUE DISCLOSURES - NARRAT

FAIR VALUE DISCLOSURES - NARRATIVE (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Fair value adjustments on GMIB asset	$ 175	$ 184
AFS fixed maturities transferred from Level 3 to Level 2	540	28
AFS fixed maturities transferred from Level 3 to Level 2	$ 14	$ 83
AFS fixed maturities transferred between Level 2 and 3 (percentage)	4.80%	0.90%
Fair Value, Recurring
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Separate Accounts assets	$ 124,061	$ 107,913
Level 3 | Fair Value, Recurring
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Separate Accounts assets	0	21
Level 3 | Fair Value, Nonrecurring
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Fair value measurements not included in quantitative information about level 3 fair value measurements	$ 325	$ 826

FAIR VALUE DISCLOSURES - FAIR V

FAIR VALUE DISCLOSURES - FAIR VALUE MEASUREMENT RECONCILIATION FOR ALL LEVELS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Total Gains Losses Realized Unrealized Included In [Abstract]
Investment gains (losses), net	$ 206	$ 3	$ (125)
Transfers into level 3	14	83
Transfers out of Level 3	(540)	(28)
Corporate
Total Gains Losses Realized Unrealized Included In [Abstract]
Other comprehensive income (loss)	3	(18)	4
States and political subdivisions
Total Gains Losses Realized Unrealized Included In [Abstract]
Other comprehensive income (loss)	3	(1)
Commercial mortgage-backed
Total Gains Losses Realized Unrealized Included In [Abstract]
Other comprehensive income (loss)	0		45
Asset- backed
Total Gains Losses Realized Unrealized Included In [Abstract]
Other comprehensive income (loss)	0	(7)	(9)
GMIB reinsurance contracts
Total Gains Losses Realized Unrealized Included In [Abstract]
Other comprehensive income (loss)	0	0	0
GMxB derivative features liability
Total Gains Losses Realized Unrealized Included In [Abstract]
Other comprehensive income (loss)	0	0	0
Level 3 | Corporate
Total Gains Losses Realized Unrealized Included In [Abstract]
Beginning Balance	1,174	1,139	845
Net investment income (loss)	4	7	5
Investment gains (losses), net	0	(8)	2
Subtotal	4	(1)	7
Other comprehensive income (loss)	5	(20)	4
Purchases	273	322	612
Sales	(120)	(321)	(331)
Transfers into level 3	14	83	7
Transfers out of Level 3	(104)	(28)	(5)
Closing Balance	1,246	1,174	1,139
Level 3 | States and political subdivisions
Total Gains Losses Realized Unrealized Included In [Abstract]
Beginning Balance	38	40	42
Net investment income (loss)	0	0	0
Investment gains (losses), net	0	0	0
Subtotal	0	0	0
Other comprehensive income (loss)	3	(1)	(1)
Purchases	0	0	0
Sales	(2)	(1)	(1)
Transfers into level 3	0	0	0
Transfers out of Level 3	0	0	0
Closing Balance	39	38	40
Level 3 | Commercial mortgage-backed
Total Gains Losses Realized Unrealized Included In [Abstract]
Beginning Balance	0	0	349
Net investment income (loss)	0	0	(2)
Investment gains (losses), net	0	0	(63)
Subtotal	0	0	(65)
Other comprehensive income (loss)	0	0	45
Purchases	0	0	0
Sales	0	0	(329)
Transfers into level 3	0	0	0
Transfers out of Level 3	0	0	0
Closing Balance	0	0	0
Level 3 | Asset- backed
Total Gains Losses Realized Unrealized Included In [Abstract]
Beginning Balance	519	8	24
Net investment income (loss)	0	(2)	0
Investment gains (losses), net	0	0	15
Subtotal	0	(2)	15
Other comprehensive income (loss)	1	(7)	(9)
Purchases	100	550	0
Sales	(84)	(30)	(21)
Transfers into level 3	0	0	0
Transfers out of Level 3	(436)	0	(1)
Closing Balance	100	519	8
Level 3 | Redeemable preferred stock
Total Gains Losses Realized Unrealized Included In [Abstract]
Beginning Balance	0	0	1
Net investment income (loss)	0	0	0
Investment gains (losses), net	0	0	0
Subtotal	0	0	0
Other comprehensive income (loss)	0	0	(1)
Purchases	0	0	0
Sales	0	0	0
Transfers into level 3	0	0	0
Transfers out of Level 3	0	0	0
Closing Balance	0	0	0
Level 3 | Other equity investments
Total Gains Losses Realized Unrealized Included In [Abstract]
Beginning Balance	48	25	40
Investment gains (losses), net	0	0	0
Net derivative gains (losses), excluding non-performance risk	0	0	0
Nonperformance risk	0	0	0
Subtotal	0	0	0
Purchases	0	29	0
Sales	0	0	0
Settlements	0	0	0
Activity related to consolidated VIEs/VOEs	(3)	(6)	(15)
Transfers into level 3	0	5	0
Transfers out of Level 3	(29)	(5)	0
Closing Balance	16	48	25
Level 3 | GMIB reinsurance contracts
Total Gains Losses Realized Unrealized Included In [Abstract]
Beginning Balance	1,991	10,488	10,313
Investment gains (losses), net	0	0	0
Net derivative gains (losses), excluding non-performance risk	458	(972)	(6)
Nonperformance risk	42	(96)	75
Subtotal	500	(1,068)	69
Purchases	47	96	221
Sales	(72)	(62)	(115)
Settlements	0	(7,463)	0
Activity related to consolidated VIEs/VOEs	0	0	0
Transfers into level 3	0	0	0
Transfers out of Level 3	0	0	0
Closing Balance	2,466	1,991	10,488
Level 3 | Separate Accounts’ assets
Total Gains Losses Realized Unrealized Included In [Abstract]
Beginning Balance	21	22	17
Investment gains (losses), net	0	0	(1)
Net derivative gains (losses), excluding non-performance risk	0	0	0
Nonperformance risk	0	0	0
Subtotal	0	0	(1)
Purchases	0	5	12
Sales	(1)	(1)	(2)
Settlements	(2)	(5)	(4)
Activity related to consolidated VIEs/VOEs	0	0	0
Transfers into level 3	0	0	0
Transfers out of Level 3	(18)	0	0
Closing Balance	0	21	22
Level 3 | GMxB derivative features liability
Total Gains Losses Realized Unrealized Included In [Abstract]
Beginning Balance	(5,431)	(4,256)	(5,473)
Investment gains (losses), net	0	0	0
Net derivative gains (losses), excluding non-performance risk	(3,220)	(296)	1,443
Nonperformance risk	792	(490)	149
Subtotal	(2,428)	(786)	1,592
Purchases	(416)	(403)	(381)
Sales	29	14	6
Settlements	0	0	0
Activity related to consolidated VIEs/VOEs	0	0	0
Transfers into level 3	0	0	0
Transfers out of Level 3	0	0	0
Closing Balance	$ (8,246)	$ (5,431)	$ (4,256)

FAIR VALUE DISCLOSURES - UNREAL

FAIR VALUE DISCLOSURES - UNREALIZED GAINS (LOSSES) FOR LEVEL 3 INSTRUMENTS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Level 3 Assets And Liabilities Held
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net Derivative Gains (Losses)	$ (1,928)	$ (1,854)	$ 1,661
OCI	6	(26)	40
Corporate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net Derivative Gains (Losses)	0	0	0
OCI	3	(18)	4
States and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net Derivative Gains (Losses)	0	0
OCI	3	(1)
Commercial mortgage-backed
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net Derivative Gains (Losses)	0		0
OCI	0		45
Asset-backed
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net Derivative Gains (Losses)	0	0	0
OCI	0	(7)	(9)
Total debt maturities available for sale
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net Derivative Gains (Losses)	0	0	0
OCI	6	(26)	40
GMIB reinsurance contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net Derivative Gains (Losses)	500	(1,068)	69
OCI	0	0	0
GMxB derivative features liability
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net Derivative Gains (Losses)	(2,428)	(786)	1,592
OCI	$ 0	$ 0	$ 0

FAIR VALUE DISCLOSURES - QUANTI

FAIR VALUE DISCLOSURES - QUANTITATIVE INFORMATION ABOUT LEVEL 3 (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Asset, fair value	$ 8,271	$ 4,936
Corporate | Level 3 | Matrix Pricing Model Valuation Technique
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Asset, fair value	$ 51	$ 93
Corporate | Level 3 | Matrix Pricing Model Valuation Technique | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Spread over Benchmark	0.0015	0.0015
Corporate | Level 3 | Matrix Pricing Model Valuation Technique | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Spread over Benchmark	0.058	0.058
Corporate | Level 3 | Matrix Pricing Model Valuation Technique | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Spread over Benchmark	0.0186	0.0104
Corporate | Level 3 | Market Comparable Companies Valuation Technique
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Asset, fair value	$ 1,025	$ 881
Corporate | Level 3 | EBITDA multiples | Market Comparable Companies Valuation Technique | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Equity securities, measurement input	3.3	4.1
Corporate | Level 3 | EBITDA multiples | Market Comparable Companies Valuation Technique | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Equity securities, measurement input	56.7	37.8
Corporate | Level 3 | EBITDA multiples | Market Comparable Companies Valuation Technique | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Equity securities, measurement input	14.3	12.1
Corporate | Level 3 | Discount rate | Market Comparable Companies Valuation Technique | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Equity securities, measurement input	0.039	0.064
Corporate | Level 3 | Discount rate | Market Comparable Companies Valuation Technique | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Equity securities, measurement input	0.165	0.165
Corporate | Level 3 | Discount rate | Market Comparable Companies Valuation Technique | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Equity securities, measurement input	0.100	0.107
Corporate | Level 3 | Cash flow multiples | Market Comparable Companies Valuation Technique | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Equity securities, measurement input	0.8	1.8
Corporate | Level 3 | Cash flow multiples | Market Comparable Companies Valuation Technique | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Equity securities, measurement input	48.1	18
Corporate | Level 3 | Cash flow multiples | Market Comparable Companies Valuation Technique | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Equity securities, measurement input	11.7	11.4
GMIB reinsurance contracts | Level 3 | Discounted Cash Flow Valuation Technique
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Asset, fair value	$ 2,466	$ 1,991
GMIB reinsurance contracts | Level 3 | Non-performance risk | Discounted Cash Flow Valuation Technique | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing asset, measurement input	0.0055	0.0074
GMIB reinsurance contracts | Level 3 | Non-performance risk | Discounted Cash Flow Valuation Technique | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing asset, measurement input	0.0109	0.0159
GMIB reinsurance contracts | Level 3 | Lapse rate | Discounted Cash Flow Valuation Technique | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing asset, measurement input	0.08	0.010
GMIB reinsurance contracts | Level 3 | Lapse rate | Discounted Cash Flow Valuation Technique | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing asset, measurement input	0.10	0.0627
GMIB reinsurance contracts | Level 3 | Withdrawal rate | Discounted Cash Flow Valuation Technique | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing asset, measurement input	0	0
GMIB reinsurance contracts | Level 3 | Withdrawal rate | Discounted Cash Flow Valuation Technique | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing asset, measurement input	0.08	0.080
GMIB reinsurance contracts | Level 3 | Utilization rate | Discounted Cash Flow Valuation Technique | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing asset, measurement input	0	0
GMIB reinsurance contracts | Level 3 | Utilization rate | Discounted Cash Flow Valuation Technique | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing asset, measurement input	0.49	0.160
GMIB reinsurance contracts | Level 3 | Volatility rates - Equity | Discounted Cash Flow Valuation Technique | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing asset, measurement input	0.09	0.100
GMIB reinsurance contracts | Level 3 | Volatility rates - Equity | Discounted Cash Flow Valuation Technique | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing asset, measurement input	0.30	0.340
GMIBNLG | Level 3 | Discounted Cash Flow Valuation Technique
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities, fair value	$ 8,128	$ 5,341
GMIBNLG | Level 3 | Non-performance risk | Discounted Cash Flow Valuation Technique
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.0124	0.0189
GMIBNLG | Level 3 | Lapse rate | Discounted Cash Flow Valuation Technique | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.008	0.008
GMIBNLG | Level 3 | Lapse rate | Discounted Cash Flow Valuation Technique | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.199	0.262
GMIBNLG | Level 3 | Withdrawal rate | Discounted Cash Flow Valuation Technique | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.003	0
GMIBNLG | Level 3 | Withdrawal rate | Discounted Cash Flow Valuation Technique | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.110	0.121
GMIBNLG | Level 3 | Annuitization rate | Discounted Cash Flow Valuation Technique | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0	0
GMIBNLG | Level 3 | Annuitization rate | Discounted Cash Flow Valuation Technique | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	1	1
GWBL/GMWB | Level 3 | Discounted Cash Flow Valuation Technique
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities, fair value	$ 109	$ 130
GWBL/GMWB | Level 3 | Non-performance risk | Discounted Cash Flow Valuation Technique
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.0124	0.0189
GWBL/GMWB | Level 3 | Lapse rate | Discounted Cash Flow Valuation Technique | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.008	0.005
GWBL/GMWB | Level 3 | Lapse rate | Discounted Cash Flow Valuation Technique | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.100	0.057
GWBL/GMWB | Level 3 | Withdrawal rate | Discounted Cash Flow Valuation Technique | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0	0
GWBL/GMWB | Level 3 | Withdrawal rate | Discounted Cash Flow Valuation Technique | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.070	0.070
GWBL/GMWB | Level 3 | Utilization rate | Discounted Cash Flow Valuation Technique
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	1	1
GWBL/GMWB | Level 3 | Volatility rates - Equity | Discounted Cash Flow Valuation Technique | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.09	0.100
GWBL/GMWB | Level 3 | Volatility rates - Equity | Discounted Cash Flow Valuation Technique | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.30	0.340
GIB | Level 3 | Discounted Cash Flow Valuation Technique
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities, fair value	$ 5	$ (48)
GIB | Level 3 | Non-performance risk | Discounted Cash Flow Valuation Technique
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.0124
GIB | Level 3 | Lapse rate | Discounted Cash Flow Valuation Technique | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.012	0.005
GIB | Level 3 | Lapse rate | Discounted Cash Flow Valuation Technique | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.199	0.057
GIB | Level 3 | Withdrawal rate | Discounted Cash Flow Valuation Technique | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0	0
GIB | Level 3 | Withdrawal rate | Discounted Cash Flow Valuation Technique | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.080	0.080
GIB | Level 3 | Utilization rate | Discounted Cash Flow Valuation Technique | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0	0
GIB | Level 3 | Utilization rate | Discounted Cash Flow Valuation Technique | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	1	0.160
GIB | Level 3 | Volatility rates - Equity | Discounted Cash Flow Valuation Technique | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.090	0.100
GIB | Level 3 | Volatility rates - Equity | Discounted Cash Flow Valuation Technique | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.300	0.340
GMAB | Level 3 | Discounted Cash Flow Valuation Technique
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities, fair value	$ 4	$ 7
GMAB | Level 3 | Lapse rate | Discounted Cash Flow Valuation Technique | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.010	0.010
GMAB | Level 3 | Lapse rate | Discounted Cash Flow Valuation Technique | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.100	0.057
GMAB | Level 3 | Volatility rates - Equity | Discounted Cash Flow Valuation Technique | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.090	0.100
GMAB | Level 3 | Volatility rates - Equity | Discounted Cash Flow Valuation Technique | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.300	0.340
Ages 0 - 40 | GMIB reinsurance contracts | Level 3 | Mortality rates | Discounted Cash Flow Valuation Technique | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing asset, measurement input	0.0001	0.0001
Ages 0 - 40 | GMIB reinsurance contracts | Level 3 | Mortality rates | Discounted Cash Flow Valuation Technique | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing asset, measurement input	0.0018	0.0018
Ages 0 - 40 | GMIBNLG | Level 3 | Mortality rates | Discounted Cash Flow Valuation Technique | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.0001	0.0001
Ages 0 - 40 | GMIBNLG | Level 3 | Mortality rates | Discounted Cash Flow Valuation Technique | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.0019	0.0019
Ages 41 - 60 | GMIB reinsurance contracts | Level 3 | Mortality rates | Discounted Cash Flow Valuation Technique | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing asset, measurement input	0.0007	0.0007
Ages 41 - 60 | GMIB reinsurance contracts | Level 3 | Mortality rates | Discounted Cash Flow Valuation Technique | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing asset, measurement input	0.0054	0.0054
Ages 41 - 60 | GMIBNLG | Level 3 | Mortality rates | Discounted Cash Flow Valuation Technique | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.0006	0.0006
Ages 41 - 60 | GMIBNLG | Level 3 | Mortality rates | Discounted Cash Flow Valuation Technique | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.0053	0.0053
Ages 60 - 115 | GMIB reinsurance contracts | Level 3 | Mortality rates | Discounted Cash Flow Valuation Technique | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing asset, measurement input	0.0042	0.0042
Ages 60 - 115 | GMIB reinsurance contracts | Level 3 | Mortality rates | Discounted Cash Flow Valuation Technique | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing asset, measurement input	0.4220	0.420
Ages 60 - 115 | GMIBNLG | Level 3 | Mortality rates | Discounted Cash Flow Valuation Technique | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.0041	0.0041
Ages 60 - 115 | GMIBNLG | Level 3 | Mortality rates | Discounted Cash Flow Valuation Technique | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Servicing liability, measurement input	0.4139	0.412

FAIR VALUE DISCLOSURES - CARRYI

FAIR VALUE DISCLOSURES - CARRYING VALUES AND FAIR VALUES OF FINANCIAL INSTRUMENTS (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Consolidated Amounts [Abstract]
Mortgage loans on real estate	$ 12,090	$ 11,818
Policy loans	3,270	3,267
Loans to affiliates	0	572
Policyholders’ liabilities: Investment contracts	55,421	46,403
Loans from affiliates	0	572
Separate Accounts liabilities	124,646	108,487
Carrying Value
Consolidated Amounts [Abstract]
Mortgage loans on real estate	12,090	11,818
Policy loans	3,270	3,267
Loans to affiliates	1,200	600
Policyholders’ liabilities: Investment contracts	1,922	1,974
FHLBNY funding agreements	6,909	4,002
Loans from affiliates	0	572
Separate Accounts liabilities	9,041	7,406
Measured at Fair Value
Consolidated Amounts [Abstract]
Mortgage loans on real estate	12,317	11,478
Policy loans	4,199	3,944
Loans to affiliates	1,224	603
Policyholders’ liabilities: Investment contracts	2,029	2,015
FHLBNY funding agreements	6,957	3,956
Loans from affiliates	0	572
Separate Accounts liabilities	9,041	7,406
Measured at Fair Value | Level 1
Consolidated Amounts [Abstract]
Mortgage loans on real estate	0	0
Policy loans	0	0
Loans to affiliates	0	0
Policyholders’ liabilities: Investment contracts	0	0
FHLBNY funding agreements	0	0
Loans from affiliates	0	0
Separate Accounts liabilities	0	0
Measured at Fair Value | Level 2
Consolidated Amounts [Abstract]
Mortgage loans on real estate	0	0
Policy loans	0	0
Loans to affiliates	1,224	603
Policyholders’ liabilities: Investment contracts	0	0
FHLBNY funding agreements	6,957	3,956
Loans from affiliates	0	572
Separate Accounts liabilities	0	0
Measured at Fair Value | Level 3
Consolidated Amounts [Abstract]
Mortgage loans on real estate	12,317	11,478
Policy loans	4,199	3,944
Loans to affiliates	0	0
Policyholders’ liabilities: Investment contracts	2,029	2,015
FHLBNY funding agreements	0	0
Loans from affiliates	0	0
Separate Accounts liabilities	$ 9,041	$ 7,406

INSURANCE LIABILITIES - Change

INSURANCE LIABILITIES - Change in Liability for Variable Annuity Contracts (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
GMDB
Movement in Liabilities for Guarantees on Long-Duration Contracts, Guaranteed Benefit Liability, Gross [Roll Forward]
Opening Balance	$ 4,654	$ 4,054	$ 3,159
Opening Balance	(107)	(2,030)	(1,558)
Paid guarantee benefits	(438)	(394)	(354)
Paid guarantee benefits	14	70	171
Other changes in reserves	563	994	1,249
Other changes in reserve	(5)	1,853	(643)
Closing Balance	4,779	4,654	4,054
Closing Balance	(98)	(107)	(2,030)
GMIB
Movement in Liabilities for Guarantees on Long-Duration Contracts, Guaranteed Benefit Liability, Gross [Roll Forward]
Opening Balance	3,741	4,754	3,808
Opening Balance	(1,991)	(10,488)	(10,314)
Paid guarantee benefits	(257)	(153)	(151)
Paid guarantee benefits	72	61	115
Other changes in reserves	1,204	(860)	1,097
Other changes in reserve	(547)	8,436	(289)
Closing Balance	4,688	3,741	4,754
Closing Balance	$ (2,466)	$ (1,991)	$ (10,488)

INSURANCE LIABILITIES - Direct

INSURANCE LIABILITIES - Direct Variable Annuity Contracts with GMDB and GMIB Features (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
GMDB
Net Amount at Risk by Product and Guarantee [Line Items]
Separate Accounts	$ 94,488	$ 83,154
Total Account Values	$ 109,384
Average attained age of contractholders (in years)	55 years
Range of contractually specified interest rates (as a percent), minimum	3.00%
Range of contractually specified interest rates (as a percent), maximum	6.50%
GMIB
Net Amount at Risk by Product and Guarantee [Line Items]
General Account	$ 245
Separate Accounts	59,348	$ 52,835
Total Account Values	59,593
Net Amount at Risk, gross	10,201
Net Amount at Risk, net of amounts reinsured	$ 8,752
Average attained age of contractholders (in years)	69 years 4 months 24 days
Weighted average years remaining until annuitization (in years)	6 months
Range of contractually specified interest rates (as a percent), minimum	3.00%
Range of contractually specified interest rates (as a percent), maximum	6.50%
Return of Premium | GMDB
Net Amount at Risk by Product and Guarantee [Line Items]
Total Account Values	$ 63,491
Average attained age of contractholders (in years)	51 years 1 month 6 days
Return of Premium | GMIB
Net Amount at Risk by Product and Guarantee [Line Items]
General Account	$ 0
Separate Accounts	0
Total Account Values	0
Net Amount at Risk, gross	0
Net Amount at Risk, net of amounts reinsured	0
Ratchet | GMDB
Net Amount at Risk by Product and Guarantee [Line Items]
Total Account Values	$ 9,351
Average attained age of contractholders (in years)	67 years 7 months 6 days
Ratchet | GMIB
Net Amount at Risk by Product and Guarantee [Line Items]
General Account	$ 0
Separate Accounts	0
Total Account Values	0
Net Amount at Risk, gross	0
Net Amount at Risk, net of amounts reinsured	0
Roll-Up | GMDB
Net Amount at Risk by Product and Guarantee [Line Items]
Total Account Values	$ 3,247
Average attained age of contractholders (in years)	74 years 3 months 19 days
Range of contractually specified interest rates (as a percent), minimum	3.00%
Range of contractually specified interest rates (as a percent), maximum	6.00%
Roll-Up | GMIB
Net Amount at Risk by Product and Guarantee [Line Items]
General Account	$ 19
Separate Accounts	23,572
Total Account Values	23,591
Net Amount at Risk, gross	857
Net Amount at Risk, net of amounts reinsured	$ 270
Average attained age of contractholders (in years)	68 years 9 months 18 days
Weighted average years remaining until annuitization (in years)	1 year 7 months 6 days
Range of contractually specified interest rates (as a percent), minimum	3.00%
Range of contractually specified interest rates (as a percent), maximum	6.00%
Combo | GMDB
Net Amount at Risk by Product and Guarantee [Line Items]
Total Account Values	$ 33,295
Average attained age of contractholders (in years)	69 years 4 months 24 days
Range of contractually specified interest rates (as a percent), minimum	3.00%
Range of contractually specified interest rates (as a percent), maximum	6.50%
Combo | GMIB
Net Amount at Risk by Product and Guarantee [Line Items]
General Account	$ 226
Separate Accounts	35,776
Total Account Values	36,002
Net Amount at Risk, gross	9,344
Net Amount at Risk, net of amounts reinsured	$ 8,482
Average attained age of contractholders (in years)	69 years 6 months
Weighted average years remaining until annuitization (in years)	3 months 19 days
Range of contractually specified interest rates (as a percent), minimum	3.00%
Range of contractually specified interest rates (as a percent), maximum	6.50%
Immediate Variable Annuity | GMDB
Net Amount at Risk by Product and Guarantee [Line Items]
General Account	$ 14,896
Separate Accounts	94,488
Net Amount at Risk, gross	19,706
Net Amount at Risk, net of amounts reinsured	$ 19,151
Percentage of policyholders over age 70	19.30%
Immediate Variable Annuity | Return of Premium | GMDB
Net Amount at Risk by Product and Guarantee [Line Items]
General Account	$ 14,571
Separate Accounts	48,920
Net Amount at Risk, gross	108
Net Amount at Risk, net of amounts reinsured	$ 108
Percentage of policyholders over age 70	10.50%
Immediate Variable Annuity | Ratchet | GMDB
Net Amount at Risk by Product and Guarantee [Line Items]
General Account	$ 93
Separate Accounts	9,258
Net Amount at Risk, gross	36
Net Amount at Risk, net of amounts reinsured	$ 34
Percentage of policyholders over age 70	45.60%
Immediate Variable Annuity | Roll-Up | GMDB
Net Amount at Risk by Product and Guarantee [Line Items]
General Account	$ 57
Separate Accounts	3,190
Net Amount at Risk, gross	1,833
Net Amount at Risk, net of amounts reinsured	$ 1,280
Percentage of policyholders over age 70	68.10%
Immediate Variable Annuity | Combo | GMDB
Net Amount at Risk by Product and Guarantee [Line Items]
General Account	$ 175
Separate Accounts	33,120
Net Amount at Risk, gross	17,729
Net Amount at Risk, net of amounts reinsured	$ 17,729
Percentage of policyholders over age 70	50.80%

INSURANCE LIABILITIES - Separat

INSURANCE LIABILITIES - Separate Account Investments, Hedging Programs and Variable and Interest-Sensitive Live Insurance Policies (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
GMDB
Fair Value, Separate Account Investment [Line Items]
Fair Value of Assets	$ 94,488	$ 83,154
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Opening Balance	4,654	4,054	$ 3,159
Opening Balance	(107)	(2,030)	(1,558)
Paid guarantee benefits	(438)	(394)	(354)
Paid guarantee benefits	14	70	171
Other changes in reserves	563	994	1,249
Other changes in reserves	5	(1,853)	643
Closing Balance	4,779	4,654	4,054
Closing Balance	(98)	(107)	(2,030)
GMIB
Fair Value, Separate Account Investment [Line Items]
Fair Value of Assets	59,348	52,835
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Opening Balance	3,741	4,754	3,808
Opening Balance	(1,991)	(10,488)	(10,314)
Paid guarantee benefits	(257)	(153)	(151)
Paid guarantee benefits	72	61	115
Other changes in reserves	1,204	(860)	1,097
Other changes in reserves	547	(8,436)	289
Closing Balance	4,688	3,741	4,754
Closing Balance	(2,466)	(1,991)	(10,488)
Equity | GMDB
Fair Value, Separate Account Investment [Line Items]
Fair Value of Assets	42,489	35,541
Equity | GMIB
Fair Value, Separate Account Investment [Line Items]
Fair Value of Assets	17,941	15,759
Fixed income | GMDB
Fair Value, Separate Account Investment [Line Items]
Fair Value of Assets	5,263	5,173
Fixed income | GMIB
Fair Value, Separate Account Investment [Line Items]
Fair Value of Assets	2,699	2,812
Balanced | GMDB
Fair Value, Separate Account Investment [Line Items]
Fair Value of Assets	45,871	41,588
Balanced | GMIB
Fair Value, Separate Account Investment [Line Items]
Fair Value of Assets	38,445	33,974
Other | GMDB
Fair Value, Separate Account Investment [Line Items]
Fair Value of Assets	865	852
Other | GMIB
Fair Value, Separate Account Investment [Line Items]
Fair Value of Assets	263	290
Direct Liabilities For Guarantees
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Opening Balance	787	692	1,182
Paid guarantee benefits	(20)	(23)	(24)
Other changes in reserves	126	118	(466)
Closing Balance	893	787	692
Ceded Liabilities For Guarantees
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Opening Balance	(733)	(664)	(606)
Paid guarantee benefits	0	0	0
Other changes in reserves	(74)	(69)	(58)
Closing Balance	(807)	(733)	(664)
Net Liabilities For Guarantees
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Opening Balance	54	28	576
Paid guarantee benefits	(20)	(23)	(24)
Other changes in reserves	52	49	(524)
Closing Balance	$ 86	$ 54	$ 28

LEASES - Narrative (Details)

LEASES - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Lessee, Lease, Description [Line Items]
Base rent		$ 11
Term of contract		10 years
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease term	12 years

LEASES - Balance Sheet Classifi

LEASES - Balance Sheet Classification (Details) $ in Millions	Dec. 31, 2019USD ($)
Leases [Abstract]
Operating lease assets	$ 324
Operating lease liabilities	$ 415

LEASES - Lease Costs (Details)

LEASES - Lease Costs (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)
Leases [Abstract]
Operating lease cost	$ 77
Variable operating lease cost	10
Sublease income	(16)
Short-term lease expense	2
Net lease cost	$ 72

LEASES - Lease Maturities (Deta

LEASES - Lease Maturities (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Operating Leases:
2020	$ 95
2021	93
2022	90
2023	81
2024	23
Thereafter	71
Total lease payments	453
Less: Interest	(38)
Present value of lease liabilities	$ 415
Lease obligation under ASC 840
2019		$ 81
2020		74
2021		69
2022		67
2023		63
Thereafter		$ 66

LEASES - Supplemental Lease Inf

LEASES - Supplemental Lease Information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)
Leases [Abstract]
Weighted-average remaining operating lease term	6 years
Weighted-average discount rate for operating leases	3.10%
Operating cash flows from operating leases	$ 87
Leased assets obtained in exchange for new operating lease liabilities	$ 50

REINSURANCE - Effect of reinsur

REINSURANCE - Effect of reinsurance (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Reinsurance Disclosures [Abstract]
Direct premiums	$ 868	$ 836	$ 880
Reinsurance assumed	194	186	195
Reinsurance ceded	(126)	(160)	(171)
Premiums	936	862	904
Direct charges and fee income	3,821	3,990	4,012
Reinsurance ceded	(371)	(467)	(718)
Policy charges and fee income	3,450	3,523	3,294
Direct policyholders’ benefits	4,339	3,378	4,159
Reinsurance assumed	216	219	8
Reinsurance ceded	(436)	(592)	(694)
Policyholder Benefits and Claims Incurred, Net	$ 4,119	$ 3,005	$ 3,473

REINSURANCE (Details)

REINSURANCE (Details) - USD ($) $ in Millions	Feb. 01, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Reinsurance retention policy, percentage of excess reinsured		100.00%
GMIB reinsurance contract asset, at fair value		$ 2,466	$ 1,991
Increase (decrease) in the fair value of the reinsurance contract asset		475	8,500	$ 174
Amounts due to reinsurers		105	113
AXA Equitable Life Insurance Co
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Reinsurance retention policy, amount retained	$ 635
Exposure reinsured percentage	90.00%
Amount retained, excluding cash	$ 604
Amount retained, cash	31
Deposit contracts, assets	$ 635
Third-party
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Reinsurance recoverables related to insurance contracts		2,200	2,200
Amounts due to reinsurers		90	91
Third-party | Credit Concentration Risk
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Reinsurance recoverables related to insurance contracts		1,600	1,700
Variable Universal Term Life Insurance Single Life
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Reinsurance retention policy, amount retained		25
Variable Universal Term Life Insurance Joint Life
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Reinsurance retention policy, amount retained		30
Group Life And Health Insurance | Third-party
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Insurance liabilities ceded		56	62
Reinsurance assumed reserves		$ 735	$ 712
GMDB | Third-party
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Exposure reinsured percentage		2.80%	2.90%
GMIB | Third-party
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Exposure reinsured percentage		14.20%	15.50%

LOANS TO AND FROM AFFILIATES (D

LOANS TO AND FROM AFFILIATES (Details) - USD ($) $ in Millions	Mar. 05, 2019	Dec. 28, 2018	Dec. 31, 2019	Nov. 30, 2019	Dec. 31, 2018	Apr. 30, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Related Party Transaction [Line Items]
Repayments of related party debt							$ 572	$ 0	$ 0
EQH-AEL internal debt (3.69%, due 2021)
Related Party Transaction [Line Items]
Related party transaction, rate (as a percent)							3.69%
EQH-AEL internal debt (one-month LIBOR 1.33%, due 2024)
Related Party Transaction [Line Items]
Related party transaction, rate (as a percent)							1.33%
Senior Notes (3.75%, due 2019)
Related Party Transaction [Line Items]
Related party transaction, rate (as a percent)							3.75%
Parent | EQH-AEL internal debt (3.69%, due 2021)
Related Party Transaction [Line Items]
Loans from affiliates						$ 800
Related party transaction, rate (as a percent)						3.69%
Repayments of related party debt			$ 300		$ 200
Outstanding debt			$ 300				$ 300
Parent | EQH-AEL internal debt (one-month LIBOR 1.33%, due 2024)
Related Party Transaction [Line Items]
Loans from affiliates				$ 900
Related party transaction, rate (as a percent)				1.33%
Parent | Senior Notes (3.75%, due 2019)
Related Party Transaction [Line Items]
Related party transaction, rate (as a percent)		3.75%
Note issued		$ 572
Repayment of note	$ 4

LOANS TO AND FROM AFFILIATES -

LOANS TO AND FROM AFFILIATES - Related Party Debt (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Related Party Transaction [Line Items]
Loans to affiliates	$ 1,200	$ 600
Loans from affiliates	0	572
EQH-AEL internal debt (3.69%, due 2021)
Related Party Transaction [Line Items]
Loans to affiliates	$ 300	600
Related party transaction, rate (as a percent)	3.69%
EQH-AEL internal debt (one-month LIBOR 1.33%, due 2024)
Related Party Transaction [Line Items]
Loans to affiliates	$ 900	0
Related party transaction, rate (as a percent)	1.33%
Senior Notes (3.75%, due 2019)
Related Party Transaction [Line Items]
Loans from affiliates	$ 0	$ 572
Related party transaction, rate (as a percent)	3.75%

RELATED PARTY TRANSACTIONS - Na

RELATED PARTY TRANSACTIONS - Narrative (Details) - USD ($) $ in Millions	Nov. 13, 2019	Apr. 12, 2018	Nov. 30, 2019	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Nov. 12, 2019
Related Party Transaction [Line Items]
Transfer to investments		$ 7,600
Notes reduction		300
Deferred tax asset, intra-entity transfer, asset other than inventory		1,200
Guaranteed minimum income benefit reinsurance asset, at fair value					$ 2,466	$ 1,991
Ceded premiums					3	4	$ 4
Assumed premiums earned affiliated					19	20	20
Reinsurance effect on claims and benefits incurred amount assumed affiliates					6	8	5
Extinguishment of debt				$ 202
Capital contributions from parent			$ 25
AXA Affiliates
Related Party Transaction [Line Items]
Variable interest entity, consolidated, carrying amount, assets					229	237
Nonconsolidated VIE, carrying amount, assets					10,000	9,000
Variable interest entity, nonconsolidated, unfunded commitments					205	249
Affiliated Entity
Related Party Transaction [Line Items]
Repayment of note					654	724	799
AXA | AXA Affiliates
Related Party Transaction [Line Items]
Noncontrolling interest, ownership percentage by parent								39.00%
Ownership percentage	10.00%
AllianceBernstein L.P. | Affiliated Entity
Related Party Transaction [Line Items]
Repayment of note					102	65
Variable interest entity, consolidated, carrying amount, assets					30	36
Nonconsolidated VIE, carrying amount, assets					974	784
Variable interest entity, nonconsolidated, unfunded commitments					20	30
AXA Arizona
Related Party Transaction [Line Items]
Reinsurance, loss on uncollectible accounts in period, amount					2,600
Reinsurance, loss on uncollectible accounts in period, amount, net of tax					2,100
Reinsurance, write off of deferred costs					1,800
Reinsurance, difference in cost basis					400
Guaranteed minimum income benefit reinsurance asset, at fair value							8,600
AXA Arizona | Universal Life And No Lapse Guarantee Riders
Related Party Transaction [Line Items]
Ceded premiums							454
Ceded claims paid							$ 213
EQ AZ Life Re
Related Party Transaction [Line Items]
Guaranteed minimum income benefit reinsurance asset, at fair value					327
EQ AZ Life Re | Universal Life And No Lapse Guarantee Riders
Related Party Transaction [Line Items]
Ceded premiums					62	100
Ceded claims paid					52	78
XL Catlin
Related Party Transaction [Line Items]
Liabilities for guarantees on long-duration contracts, guaranteed benefit liability, gross					104	93
Cost Sharing And General Service Agreements
Related Party Transaction [Line Items]
Repayment of note					$ 73	$ 138
Assets Removed
Related Party Transaction [Line Items]
Related party, amount of transaction		11,889
Payable to AXA RE Arizona | Assets Removed
Related Party Transaction [Line Items]
Related party, amount of transaction		$ 270
AXA France
Related Party Transaction [Line Items]
Consideration				143
Gain (loss) on disposal				$ (0.2)

RELATED PARTY TRANSACTIONS - As

RELATED PARTY TRANSACTIONS - Assets Received (Removed) (Details) $ in Millions	Apr. 12, 2018USD ($)
Assets Received
Related Party Transaction [Line Items]
Related party, amount of transaction	$ 8,888
Assets Removed
Related Party Transaction [Line Items]
Related party, amount of transaction	11,889
Fixed income securities | Assets Received
Related Party Transaction [Line Items]
Related party, amount of transaction	7,083
Short-term investments | Assets Received
Related Party Transaction [Line Items]
Related party, amount of transaction	205
Money market funds | Assets Received
Related Party Transaction [Line Items]
Related party, amount of transaction	2
Accrued interest | Assets Received
Related Party Transaction [Line Items]
Related party, amount of transaction	43
Derivatives | Assets Received
Related Party Transaction [Line Items]
Related party, amount of transaction	282
Cash and cash equivalents | Assets Received
Related Party Transaction [Line Items]
Related party, amount of transaction	1,273
Deferred cost of reinsurance asset | Assets Removed
Related Party Transaction [Line Items]
Related party, amount of transaction	1,839
GMDB ceded reserves | Assets Removed
Related Party Transaction [Line Items]
Related party, amount of transaction	2,317
GMIB reinsurance contract asset | Assets Removed
Related Party Transaction [Line Items]
Related party, amount of transaction	7,463
Payable to AXA RE Arizona | Assets Removed
Related Party Transaction [Line Items]
Related party, amount of transaction	$ 270

RELATED PARTY TRANSACTIONS - Sc

RELATED PARTY TRANSACTIONS - Schedule of Expenses Reimbursed from Related Party Transactions (Details) - Affiliated Entity - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Related Party Transaction [Line Items]
Revenue received or accrued for:	$ 1,167	$ 1,234	$ 1,204
Expenses paid or accrued for:	654	724	799
Investment management and administrative services provided to EQAT, VIP Trust, 1290 Funds and Other AXA Trusts
Related Party Transaction [Line Items]
Revenue received or accrued for:	669	727	720
General services provided to AXA Affiliates
Related Party Transaction [Line Items]
Revenue received or accrued for:	460	463	439
Amounts received or accrued for commissions and fees earned for sale of Equitable America’s insurance products
Related Party Transaction [Line Items]
Revenue received or accrued for:	39	44	45
Paid or accrued commission and fee expenses for sale of insurance products by AXA Equitable Distribution
Related Party Transaction [Line Items]
Expenses paid or accrued for:	573	613	608
General services provided by AXA Affiliates
Related Party Transaction [Line Items]
Expenses paid or accrued for:	$ 76	109	186
Investment management services provided by AXA IM, AXA REIM and AXA Rosenberg
Related Party Transaction [Line Items]
Expenses paid or accrued for:		$ 2	$ 5

EMPLOYEE BENEFIT PLANS - Narrat

EMPLOYEE BENEFIT PLANS - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Qualified Plan
Defined Benefit Plan Disclosure [Line Items]
Expenses associated with plans	$ 21	$ 60	$ 27
Nonqualified Plan
Defined Benefit Plan Disclosure [Line Items]
Expenses associated with plans	47	70	37
AXA Equitable 401(k) Plan
Defined Benefit Plan Disclosure [Line Items]
Expenses associated with plans	$ 22	$ 19	$ 15

EMPLOYEE BENEFIT PLANS - Summar

EMPLOYEE BENEFIT PLANS - Summary of Plan (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Retirement Benefits [Abstract]
Total Plan Assets	$ 2,159	$ 1,993
Accumulated Benefit Obligation	$ 2,160	$ 2,039
Funded Status	99.90%	97.80%

SHARE-BASED AND OTHER COMPENS_3

SHARE-BASED AND OTHER COMPENSATION PROGRAMS - Summary of Compensation Expenses (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total Compensation Expenses	$ 28	$ 30	$ 30
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total Compensation Expenses	10	12	18
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total Compensation Expenses	3	2	1
AXA Shareplan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total Compensation Expenses	0	0	9
Restricted Stock Unit Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total Compensation Expenses	15	16	2
Other Compensation plans
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total Compensation Expenses	$ 0	$ 0	$ 0

SHARE-BASED AND OTHER COMPENS_4

SHARE-BASED AND OTHER COMPENSATION PROGRAMS - Narrative (Details) $ / shares in Units, $ in Millions	May 09, 2018$ / sharesshares	Jun. 21, 2017shares	Dec. 31, 2019USD ($)shares	Dec. 31, 2017€ / shares	Dec. 31, 2018USD ($)
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			3 years
Employee Stock Option | Vesting tranche one
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage			33.33%
Employee Stock Option | Vesting tranche two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage			33.33%
Employee Stock Option | Vesting tranche three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage			33.33%
Performance Shares | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Potential shares earned, percent			0.00%
Performance Shares | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Potential shares earned, percent			200.00%
ROE Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation By Share-based Payment Award, Percent of Award Type			50.00%
TSR Performance Share Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation By Share-based Payment Award, Percent of Award Type			50.00%
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Deferred compensation share-based arrangements, liability | $			$ 43		$ 32
Performance Unit Plan 2017 | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage			0.00%
Performance Unit Plan 2017 | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage			130.00%
Stock Option Plan 2017 | Vesting tranche one
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage			33.33%
Stock Option Plan 2017 | Vesting tranche two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage			33.33%
Stock Option Plan 2017 | Vesting tranche three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage			33.33%
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost not yet recognized | $			$ 0.4
Compensation cost, recognition period			8 months 12 days
Annual Awards 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized (in shares)			12,500,000
Annual Awards 2018 | Restricted Stock Unit Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			3 years
Transaction Incentive Grant Awards | Restricted Stock Unit Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	2 years
Granted (in shares)	722,000
Vesting percentage	50.00%
Service period	5 years
Transaction Incentive Grant Awards | Restricted Stock Unit Awards | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Growth rate	130.00%
Transaction Incentive Grant Awards | Restricted Stock Unit Awards | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Growth rate	150.00%
Transaction Incentive Grant Awards | RSU Performance Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	50.00%
Transaction Incentive Grant Awards | RSU Performance Units | Vesting tranche three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	$ 16.47
Transaction Incentive Grant Awards | RSU Performance Units | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	2 years
Transaction Incentive Grant Awards | RSU Performance Units | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	5 years
All-Employee Award | Restricted Stock Unit Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	357,000
Grants on individual basis (in shares)	50
IPO
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share price (in usd per share) | $ / shares	$ 20
Parent | Restricted Stock Unit Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost, recognition period			1 year 29 days
Unvested restricted shares and holding units (in shares)			1,800,000
Compensation cost not yet recognized | $			$ 19
Parent | Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost, recognition period			7 months 21 days
Unvested restricted shares and holding units (in shares)			2,500,000
Compensation cost not yet recognized | $			$ 10
Parent | Stock Option Plan 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		10 years
Options granted (in shares)		500,000
Share-based compensation arrangement by share-based payment award, grading schedule		5 years
Parent | Stock Option Plan 2017 | Conditional vesting term
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted (in shares)		300,000
Parent | Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost not yet recognized | $			$ 3
Compensation cost, recognition period			9 months 18 days
AXA Shareplan Option A 2017 | Parent
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Discount from market price, purchase date				20.00%
Weighted average purchase price of shares purchased (Euro/share) | € / shares				€ 20.19
AXA Shareplan Option B 2015 | Parent
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Discount from market price, purchase date				8.98%
Weighted average purchase price of shares purchased (Euro/share) | € / shares				€ 22.96
Equitable Holdings, Inc. Stock Purchase Program (“SPP”) | Parent
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Defined contribution plan, maximum annual contributions per employee, percent			100.00%
Defined contribution plan, employer matching contribution, percent of match			15.00%

SHARE-BASED AND OTHER COMPENS_5

SHARE-BASED AND OTHER COMPENSATION PROGRAMS - Stock Option Activity (Details) - 12 months ended Dec. 31, 2019 € / shares in Units, $ / shares in Units, € in Thousands, shares in Thousands, $ in Thousands	USD ($)$ / sharesshares	USD ($)$ / shares€ / sharesshares	EUR (€)€ / sharesshares
EQH Shares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Options, Number Outstanding, Beginning Balance (in shares)	835	835
Options granted (in shares)	1,251	1,251
Options exercised (in shares)	23	23
Options forfeited, net (in shares)	133	133
Options expired/reinstated (in shares)	0	0
Options, Number Outstanding, Ending Balance (in shares)	1,930	1,930
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Options, Weighted Average Exercise Price, Beginning Balance (in dollars per share) | $ / shares	$ 21.34
Options granted, Weighted Average Exercise Price (in dollars per share) | $ / shares	18.74
Options exercised, Weighted Average Exercise Price (in dollars per share) | $ / shares	21.34
Options forfeited, net, Weighted Average Exercise Price (in dollars per share) | $ / shares	20.29
Options expired/reinstated, Weighted Average Exercise Price (in dollars per share) | $ / shares	0
Options, Weighted Average Exercise Price, Ending Balance (in dollars per share) | $ / shares	$ 19.73
Options Outstanding, Aggregate Intrinsic Value | $	$ 9,755	$ 9,755
Weighted Average Remaining Contractual Term (in years)	8 years 10 months 6 days	8 years 10 months 6 days
Options Exercisable (in shares)	250	250	250
Options Exercisable, Weighted Average Exercise Price (in dollars per share) | $ / shares	$ 21.34	$ 21.34
Options Exercisable, Aggregate Intrinsic Value | $	$ 859	$ 859
Weighted Average Remaining Contractual Term (in years)	8 years 5 months 5 days	8 years 5 months 5 days
AXA Ordinary Shares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Options, Number Outstanding, Beginning Balance (in shares)	2,609	2,609
Options granted (in shares)	156	156
Options exercised (in shares)	856	856
Options forfeited, net (in shares)	182	182
Options expired/reinstated (in shares)	0	0
Options, Number Outstanding, Ending Balance (in shares)	1,727	1,727
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Options, Weighted Average Exercise Price, Beginning Balance (in dollars per share) | $ / shares	$ 18.20
Options granted, Weighted Average Exercise Price (in dollars per share) | € / shares		$ 21.60
Options exercised, Weighted Average Exercise Price (in dollars per share) | $ / shares	16.40
Options forfeited, net, Weighted Average Exercise Price (in dollars per share) | € / shares		$ 19.72
Options expired/reinstated, Weighted Average Exercise Price (in dollars per share) | $ / shares	0
Options, Weighted Average Exercise Price, Ending Balance (in dollars per share) | $ / shares	$ 20.09
Options Outstanding, Aggregate Intrinsic Value | €			€ 8,661
Weighted Average Remaining Contractual Term (in years)	5 years 2 months 12 days	5 years 2 months 12 days
Options Exercisable (in shares)	1,527	1,527	1,527
Options Exercisable, Weighted Average Exercise Price (in dollars per share) | € / shares			€ 19.74
Options Exercisable, Aggregate Intrinsic Value | €			€ 8,207
Weighted Average Remaining Contractual Term (in years)	4 years 10 months 6 days	4 years 10 months 6 days
AXA ADRs
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Options, Number Outstanding, Beginning Balance (in shares)	15	15
Options granted (in shares)	0	0
Options exercised (in shares)	15	15
Options forfeited, net (in shares)	0	0
Options expired/reinstated (in shares)	0	0
Options, Number Outstanding, Ending Balance (in shares)	0	0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Options, Weighted Average Exercise Price, Beginning Balance (in dollars per share) | $ / shares	$ 15.37
Options granted, Weighted Average Exercise Price (in dollars per share) | $ / shares	0
Options exercised, Weighted Average Exercise Price (in dollars per share) | $ / shares	15.37
Options forfeited, net, Weighted Average Exercise Price (in dollars per share) | $ / shares	0
Options expired/reinstated, Weighted Average Exercise Price (in dollars per share) | $ / shares	0
Options, Weighted Average Exercise Price, Ending Balance (in dollars per share) | $ / shares	$ 0
Options Outstanding, Aggregate Intrinsic Value | $	$ 0	$ 0
Options Exercisable (in shares)	0	0	0
Options Exercisable, Weighted Average Exercise Price (in dollars per share) | $ / shares	$ 0	$ 0
Options Exercisable, Aggregate Intrinsic Value | $	$ 0	$ 0

SHARE-BASED AND OTHER COMPENS_6

SHARE-BASED AND OTHER COMPENSATION PROGRAMS - Fair Value Stock Option Assumptions (Details) - Parent - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield	2.77%	2.44%
Expected volatility	25.70%	25.40%
Risk-free interest rates	2.49%	2.83%
Expected life in years	5 years 10 months 6 days	9 years 8 months 12 days
Weighted average fair value per option at grant date (in dollars per share)	$ 3.82	$ 4.61
AXA Ordinary Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield			6.49%
Expected volatility			26.60%
Risk-free interest rates			0.33%
Expected life in years			8 years 1 month 6 days
Weighted average fair value per option at grant date (in dollars per share)			$ 2.06

SHARE-BASED AND OTHER COMPENS_7

SHARE-BASED AND OTHER COMPENSATION PROGRAMS - Restricted and Performace Stock Activity (Details)	12 Months Ended
	Dec. 31, 2019$ / sharesshares
Holdings Restricted Stock | Restricted Stock Unit Awards
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Unvested, Beginning Balance (in shares) | shares	1,259,058.71342351
Granted (in shares) | shares	1,007,057.28622588
Canceled (in shares) | shares	125,915.499192232
Vested (in shares) | shares	334,899.54358871
Unvested, Ending Balance (in shares) | shares	1,805,300.95686844
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Unvested, Beginning Balance, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	$ 21
Granted, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	18.22
Canceled, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	19.74
Vested, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	20.51
Unvested, Ending Balance, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	$ 19.35
Holdings Restricted Stock | Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Unvested, Beginning Balance (in shares) | shares	166,552.11046634
Granted (in shares) | shares	243,041.400455667
Canceled (in shares) | shares	25,952.13991637
Vested (in shares) | shares	0
Unvested, Ending Balance (in shares) | shares	383,641.371005637
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Unvested, Beginning Balance, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	$ 23.17
Granted, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	19.67
Canceled, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	21.77
Vested, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	0
Unvested, Ending Balance, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	$ 21.05
AXA Restricted Stock | Restricted Stock Unit Awards
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Unvested, Beginning Balance (in shares) | shares	48,333.735
Granted (in shares) | shares	0
Canceled (in shares) | shares	0
Vested (in shares) | shares	29,053.805
Unvested, Ending Balance (in shares) | shares	19,279.93
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Unvested, Beginning Balance, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	$ 20.38
Granted, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	0
Canceled, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	0
Vested, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	21.35
Unvested, Ending Balance, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	$ 19.20
AXA Restricted Stock | Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Unvested, Beginning Balance (in shares) | shares	3,159,576.6155
Granted (in shares) | shares	149,756.803016871
Canceled (in shares) | shares	210,329.4137
Vested (in shares) | shares	944,944.6775
Unvested, Ending Balance (in shares) | shares	2,154,059.32731687
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Unvested, Beginning Balance, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	$ 20.10
Granted, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	20.70
Canceled, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	20.20
Vested, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	20.23
Unvested, Ending Balance, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	$ 20.08

INCOME TAXES - Components of In

INCOME TAXES - Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Current (expense) benefit	$ 295	$ 234	$ (6)
Deferred (expense) benefit	289	212	1,216
Total	$ 584	$ 446	$ 1,210

INCOME TAXES - Reconciliation o

INCOME TAXES - Reconciliation of Effective Tax Rate (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Effective Income Tax Rate Reconciliation
Expected income tax (expense) benefit	$ 510	$ 311	$ (542)
Noncontrolling interest	1	(1)	0
Non-taxable investment income	73	104	241
Tax audit interest	(14)	(11)	(6)
State income taxes	(2)	(1)	(3)
Tax settlements/uncertain tax position release	12	0	221
Change in tax law	0	46	1,308
Other	4	(2)	(9)
Total	$ 584	$ 446	$ 1,210

INCOME TAXES - Deferred Tax Ass

INCOME TAXES - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Components of Deferred Tax Assets [Abstract]
Compensation and related benefits	$ 51	$ 47
Net operating loss	44	239
Reserves and reinsurance	944	16
Unrealized investment gains (losses)	0	123
Investments	640	622
Tax credits	0	314
Other	0	14
Total	1,679	1,375
Components of Deferred Tax Liabilities [Abstract]
Reserves and reinsurance	0	0
DAC	716	864
Unrealized investment gains (losses)	639	0
Investments	0	0
Other	73	0
Total	$ 1,428	$ 864

INCOME TAXES - Unrecognized Def

INCOME TAXES - Unrecognized Deferred Tax Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at January 1,	$ 273	$ 205	$ 444
Additions for tax positions of prior years	24	98	28
Reductions for tax positions of prior years	0	(30)	(234)
Settlements with tax authorities	0	0	(33)
Balance at December 31,	297	273	205
Unrecognized tax benefits that, if recognized, would impact the effective rate	$ 222	$ 202	$ 172

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Tax settlement, benefit amount	$ 221
Tax credits		$ 0	$ 314
Interest and penalties included in unrecognized tax benefits		55	41
Interest expense related to unrecognized tax benefits		$ 14	$ 18	$ (44)

EQUITY - Components of AOCI (De

EQUITY - Components of AOCI (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2017
Equity [Abstract]
Unrealized gains (losses) on investments	$ (484)	$ 1,597	$ 581
Defined benefit pension plans	(7)	(5)	(51)
Total accumulated other comprehensive income (loss) from continuing operations	(491)	1,592	530
Less: Accumulated other comprehensive income (loss) attributable to discontinued operations, net of noncontrolling interest	0	0	(68)
Accumulated other comprehensive income (loss) attributable to Equitable Life	(491)	$ 1,592	$ 598
Defined benefit plans
Accumulated Other Comprehensive Income (Loss) [Line Items]
Cumulative effect of adoption	3
Accounting Standards Updated 2018-02
Accumulated Other Comprehensive Income (Loss) [Line Items]
Cumulative effect of adoption	$ (86)

- Changes in AOCI (Details)

- Changes in AOCI (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Other Comprehensive Income (Loss), Tax [Abstract]
Net unrealized gains (losses) arising during the year	$ 3,052	$ (1,663)	$ 741
(Gains) losses reclassified into net income (loss) during the year	(160)	(4)	8
Net unrealized gains (losses) on investments	2,892	(1,667)	749
Adjustments for policyholders’ liabilities, DAC, insurance liability loss recognition and other	(811)	437	(165)
Change in unrealized gains (losses), net of adjustments (net of deferred income tax expense (benefit) of $547, $(310), and $244)	2,081	(1,230)	584
Reclassification to Net income (loss) of amortization of net prior service credit included in net periodic cost	2	(4)	(5)
Change in defined benefit plans (net of deferred income tax expense (benefit) of $0, $0, and $(2))	2	(4)	(5)
Total other comprehensive income (loss), net of income taxes from continuing operations	2,083	(1,234)	579
Other comprehensive income (loss) from discontinued operations, net of income taxes (3)	0	0	23
Other comprehensive income (loss) attributable to Equitable Life	2,083	(1,234)	602
Other Comprehensive Income (Loss), Tax, Parenthetical Disclosures [Abstract]
AFS Securities, OCI, tax	547	(310)	244
Defined benefit plan, OCI, tax	0	0	(2)
Unrealized gains (losses) on investments
Other Comprehensive Income (Loss), Tax, Parenthetical Disclosures [Abstract]
Reclassifications from AOCI, income tax expense (benefit)	(43)	(1)	(5)
Accumulated Defined Benefit Plans Adjustment, Net Gain (Loss) Including Portion Attributable to Noncontrolling Interest
Other Comprehensive Income (Loss), Tax, Parenthetical Disclosures [Abstract]
Reclassifications from AOCI, income tax expense (benefit)	$ 0	$ 0	$ 2

COMMITMENTS AND CONTINGENT LI_3

COMMITMENTS AND CONTINGENT LIABILITIES - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2019	Feb. 29, 2016
Loss Contingencies [Line Items]
Unaccrued amounts of reasonably possible range of losses	$ 100
Federal home loan bank stock	322
Carrying value of collateral pledged for federal home loan bank	9,800
Brach Family Foundation Litigation
Loss Contingencies [Line Items]
Liability for future policy benefits, face value of policy		$ 1
Letter of Credit
Loss Contingencies [Line Items]
Undrawn balance	17
AXA
Loss Contingencies [Line Items]
Commitments by the Company to provide equity financing	1,000
Commitments under existing mortgage loan agreements	260
Affiliated Entity | AXA
Loss Contingencies [Line Items]
Commitments by the Company to provide equity financing	$ 225

COMMITMENTS AND CONTINGENT LI_4

COMMITMENTS AND CONTINGENT LIABILITIES - Funding Agreements with FHBLNY (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Restructuring Reserve [Roll Forward]
Outstanding Balance, period start	$ 3,990	$ 3,000
Issued During the Period	29,330	7,980
Repaid During the Period	26,420	6,990
Long-term Agreements Maturing Within One Year	0	0
Outstanding Balance, period end	6,900	3,990
Difference related to remaining amortization	9	11	$ 14
Federal Home Loan Bank of New York Short-Term Funding Agreements Maturing in One Year or Less
Restructuring Reserve [Roll Forward]
Outstanding Balance, period start	1,640	500
Issued During the Period	29,330	7,980
Repaid During the Period	26,420	6,990
Long-term Agreements Maturing Within One Year	58	150
Outstanding Balance, period end	4,608	1,640
Federal Home Loan Bank of New York Long-Term Funding Agreements Maturing Between Two and Five Years
Restructuring Reserve [Roll Forward]
Outstanding Balance, period start	1,569	1,621
Issued During the Period	0	0
Repaid During the Period	0	0
Long-term Agreements Maturing Within One Year	77	(52)
Outstanding Balance, period end	1,646	1,569
Federal Home Loan Bank of New York Long-Term Funding Agreements Maturing in Greater than Five Years
Restructuring Reserve [Roll Forward]
Outstanding Balance, period start	781	879
Issued During the Period	0	0
Repaid During the Period	0	0
Long-term Agreements Maturing Within One Year	(135)	(98)
Outstanding Balance, period end	646	781
Federal Home Loan Bank of New York Long-Term Funding Agreements
Restructuring Reserve [Roll Forward]
Outstanding Balance, period start	2,350	2,500
Issued During the Period	0	0
Repaid During the Period	0	0
Long-term Agreements Maturing Within One Year	(58)	(150)
Outstanding Balance, period end	$ 2,292	$ 2,350

INSURANCE GROUP STATUTORY FIN_2

INSURANCE GROUP STATUTORY FINANCIAL INFORMATION - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Related Party Transaction [Line Items]
Insurance Groups statutory net income (loss)	$ 3,900	$ 3,100	$ 748
Statutory surplus, capital stock and asset valuation reserve	8,700	7,900
Securities on deposit with such government or state agencies	58
Shareholder dividends	1,000	1,100
Extraordinary dividend	1,700	$ 3,076
Statutory accounting practices, statutory Amount available for dividend payments without regulatory approval	2,400
EQ AZ Life Re
Related Party Transaction [Line Items]
Other restricted assets	1,200
Revolving Credit Facility | Holdings Revolving Credit Facility | EQ AZ Life Re
Related Party Transaction [Line Items]
Line of credit facility, maximum borrowing capacity	$ 2,100

DISCONTINUED OPERATIONS - Narra

DISCONTINUED OPERATIONS - Narrative (Details) - Senior Notes (3.75%, due 2019) - USD ($) $ in Millions	Mar. 05, 2019	Mar. 31, 2019	Dec. 28, 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Debt instrument, term	1 year
Parent
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Extraordinary cash dividend		$ 572
Repayment of debt			$ 572

DISCONTINUED OPERATIONS - Trans

DISCONTINUED OPERATIONS - Transactions Prior to Distribution (Details) - Alliance Bernstein - Discontinued Operations - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total investment management and service fees	$ 3,243	$ 3,099
Base fees
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total investment management and service fees	2,156	2,025
Performance-based fees
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total investment management and service fees	118	95
Research services
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total investment management and service fees	439	450
Distribution services
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total investment management and service fees	419	412
Shareholder services
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total investment management and service fees	76	75
Other revenues - other
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total investment management and service fees	$ 35	$ 42

DISCONTINUED OPERATIONS - Incom

DISCONTINUED OPERATIONS - Income Statement Disclosures (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net derivative gains (losses)									$ (3,820)	$ (1,010)	$ 870
Net investment income (loss)									3,298	2,478	2,441
Investment management and service fees									1,022	1,029	1,007
Other income									56	65	41
Total revenues	$ 441	$ 1,946	$ 2,071	$ 690	$ 4,164	$ 27	$ 1,621	$ 1,139	5,148	6,951	8,456
Compensation and benefits									335	422	327
Commissions									629	620	628
Interest expense									4	34	23
Other operating costs and expenses									912	2,918	635
Total benefits and other deductions	$ 1,762	$ 2,383	$ 1,753	$ 1,680	$ 1,879	$ 763	$ 4,278	$ 1,512	7,578	8,432	6,907
Net income (loss) from discontinued operations, net of taxes									0	114	85
Less: Net income (loss) attributable to the noncontrolling interest									(5)	3	(1)
Net income (loss) attributable to Equitable Life									(1,851)	(918)	2,843
Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Less: Net income (loss) attributable to the noncontrolling interest									$ 0	(564)	(533)
Alliance Bernstein | Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net derivative gains (losses)										12	(24)
Net investment income (loss)										24	142
Investment management and service fees										3,243	3,099
Other income										0	0
Total revenues										3,279	3,217
Compensation and benefits										1,370	1,307
Commissions										427	415
Interest expense										8	6
Other operating costs and expenses										727	789
Total benefits and other deductions										2,532	2,517
Income (loss) from discontinued operations, before income taxes										747	700
Income tax (expense) benefit										(69)	(82)
Net income (loss) from discontinued operations, net of taxes										678	618
Less: Net income (loss) attributable to the noncontrolling interest										(564)	(533)
Net income (loss) attributable to Equitable Life										$ 114	$ 85

QUARTERLY FINANCIAL INFORMATI_3

QUARTERLY FINANCIAL INFORMATION (UNAUDITED) (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Quarterly Financial Data [Abstract]
Total revenues	$ 441	$ 1,946	$ 2,071	$ 690	$ 4,164	$ 27	$ 1,621	$ 1,139	$ 5,148	$ 6,951	$ 8,456
Total benefits and other deductions	1,762	2,383	1,753	1,680	1,879	763	4,278	1,512	7,578	8,432	6,907
Net income (loss)	$ (1,021)	$ (262)	$ 265	$ (828)	$ 1,936	$ (509)	$ (2,084)	$ (264)	$ (1,846)	$ (921)	$ 2,844

REDEEMABLE NONCONTROLLING INT_3

REDEEMABLE NONCONTROLLING INTEREST (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Net (income) loss attributable to the noncontrolling interest	$ 5	$ (3)	$ 1
Redeemable Noncontrolling Interest
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Balance, beginning of year	39	25	10
Net (income) loss attributable to the noncontrolling interest	5	(2)	1
Purchase/change of redeemable noncontrolling interests	(5)	16	14
Balance, end of year	$ 39	$ 39	$ 25

SCHEDULE I - SUMMARY OF INVES_2

SCHEDULE I - SUMMARY OF INVESTMENTS - OTHER THAN INVESTMENTS IN RELATED PARTIES (Details) $ in Millions	Dec. 31, 2019USD ($)
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	$ 84,319
Fair Value	88,781
Carrying Value	84,541
U.S. Treasury, government and agency
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	14,385
Fair Value	15,231
Carrying Value	14,385
States and political subdivisions
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	584
Fair Value	649
Carrying Value	584
Foreign governments
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	460
Fair Value	490
Carrying Value	460
Public utilities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	4,618
Fair Value	4,895
Carrying Value	4,618
All other corporate bonds
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	37,729
Fair Value	39,569
Carrying Value	37,729
Residential mortgage-backed
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	161
Fair Value	173
Carrying Value	161
Asset-backed
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	843
Fair Value	844
Carrying Value	843
Redeemable preferred stock
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	498
Fair Value	511
Carrying Value	498
Fixed maturities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	59,278
Fair Value	62,362
Carrying Value	59,278
Mortgage loans on real estate
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	12,090
Fair Value	12,317
Carrying Value	12,090
Real estate held for the production of income
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	27
Fair Value	27
Carrying Value	27
Policy loans
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	3,270
Fair Value	4,199
Carrying Value	3,270
Other equity investments
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	1,149
Fair Value	1,149
Carrying Value	1,149
Trading securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	6,376
Fair Value	6,598
Carrying Value	6,598
Other invested assets
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	2,129
Fair Value	2,129
Carrying Value	$ 2,129

SCHEDULE IV - REINSURANCE (Deta

SCHEDULE IV - REINSURANCE (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Life insurance in-force
Gross Amount	$ 392,420	$ 390,374	$ 392,926
Ceded to Other Companies	66,770	69,768	73,843
Assumed from Other Companies	31,699	30,322	30,300
Net Amount	$ 357,349	$ 350,928	$ 349,383
Percentage of Amount Assumed to Net	8.90%	8.60%	8.70%
Premiums:
Gross Amount	$ 868	$ 836	$ 880
Ceded to Other Companies	126	160	171
Assumed from Other Companies	194	186	195
Premiums	$ 936	$ 862	$ 904
Percentage of Amount Assumed to Net	20.70%	21.60%	21.60%
Life insurance and annuities
Premiums:
Gross Amount	$ 825	$ 787	$ 826
Ceded to Other Companies	99	128	135
Assumed from Other Companies	185	177	186
Premiums	$ 911	$ 836	$ 877
Percentage of Amount Assumed to Net	20.30%	21.20%	21.20%
Accident and health
Premiums:
Gross Amount	$ 43	$ 49	$ 54
Ceded to Other Companies	27	32	36
Assumed from Other Companies	9	9	9
Premiums	$ 25	$ 26	$ 27
Percentage of Amount Assumed to Net	36.00%	34.60%	33.30%

Uncategorized Items - axaeq-201

Label	Element	Value
Accounting Standards Update 2014-09 [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 8,000,000
Accounting Standards Update 2014-09 [Member] | Parent [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	8,000,000
Accounting Standards Update 2014-09 [Member] | Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	8,000,000
Accounting Standards Update 2018-02 [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	0
Accounting Standards Update 2018-02 [Member] | Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	(83,000,000)
Accounting Standards Update 2018-02 [Member] | AOCI Attributable to Parent [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 83,000,000