Income Tax Disclosure [Abstract] | Period [Axis] |
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2016-01-01 - 2016-12-31 |
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Income Tax Disclosure [Abstract] | |
Schedule of Components of Income Tax Expense (Benefit) | The components of income tax expense (benefit) applicable to pretax earnings for the years ended December 31 were as follows: | | | | | | | | | | | | | | | | | | | (In millions) | Foreign | | U.S. | | Total | 2016: | | | | | | | | | | | | Current | | $ | 650 |
| | | | $ | 234 |
| | | | $ | 884 |
| | Deferred | | 136 |
| | | | 388 |
| | | | 524 |
| | Total income tax expense | | $ | 786 |
| | | | $ | 622 |
| | | | $ | 1,408 |
| | 2015: | | | | | | | | | | | | Current | | $ | 1,063 |
| | | | $ | 225 |
| | | | $ | 1,288 |
| | Deferred | | 42 |
| | | | (1 | ) | | | | 41 |
| | Total income tax expense | | $ | 1,105 |
| | | | $ | 224 |
| | | | $ | 1,329 |
| | 2014: | | | | | | | | | | | | Current | | $ | 995 |
| | | | $ | 84 |
| | | | $ | 1,079 |
| | Deferred | | 125 |
| | | | 336 |
| | | | 461 |
| | Total income tax expense | | $ | 1,120 |
| | | | $ | 420 |
| | | | $ | 1,540 |
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Schedule of Effective Income Tax Rate Reconciliation | The principal reasons for the differences and the related tax effects for the years ended December 31 were as follows: | | | | | | | | | | | | | | | | | | | (In millions) | 2016 | | 2015 | | 2014 | Income taxes based on U.S. statutory rates | | $ | 1,424 |
| | | | $ | 1,352 |
| | | | $ | 1,572 |
| | Utilization of foreign tax credit | | (30 | ) | | | | (27 | ) | | | | (32 | ) | | Nondeductible expenses | | 8 |
| | | | 3 |
| | | | 5 |
| | Other, net | | 6 |
| | | | 1 |
| | | | (5 | ) | | Income tax expense | | $ | 1,408 |
| | | | $ | 1,329 |
| | | | $ | 1,540 |
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Schedule of Income Tax Expense Benefit Intraperiod Tax Allocation | Total income tax expense for the years ended December 31 was allocated as follows: | | | | | | | | | | | | | | | | | | | (In millions) | 2016 | | 2015 | | 2014 | Statements of earnings | | $ | 1,408 |
| | | | $ | 1,329 |
| | | | $ | 1,540 |
| | Other comprehensive income (loss): | | | | | | | | | | | | Unrealized foreign currency translation gains (losses) during period | | 70 |
| | | | 16 |
| | | | (419 | ) | | Unrealized gains (losses) on investment securities: | | | | | | | | | | | | Unrealized holding gains (losses) on investment securities during period | | 962 |
| | | | (931 | ) | | | | 2,237 |
| | Reclassification adjustment for realized (gains) losses on investment securities included in net earnings | | 18 |
| | | | 21 |
| | | | 19 |
| | Unrealized gains (losses) on derivatives during period | | 1 |
| | | | 0 |
| | | | (3 | ) | | Pension liability adjustment during period | | (16 | ) | | | | (7 | ) | | | | (31 | ) | | Total income tax expense (benefit) related to items of other comprehensive income (loss) | | 1,035 |
| | | | (901 | ) | | | | 1,803 |
| | Additional paid-in capital (exercise of stock options) | | (10 | ) | | | | 4 |
| | | | (7 | ) | | Total income taxes | | $ | 2,433 |
| | | | $ | 432 |
| | | | $ | 3,336 |
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Schedule of Deferred Tax Assets and Liabilities | The income tax effects of the temporary differences that gave rise to deferred income tax assets and liabilities as of December 31 were as follows: | | | | | | | | | | | | | (In millions) | 2016 | | 2015 | Deferred income tax liabilities: | | | | | | | | Deferred policy acquisition costs | | $ | 2,439 |
| | | | $ | 2,282 |
| | Unrealized gains on investment securities | | 2,636 |
| | | | 1,684 |
| | Premiums receivable | | 111 |
| | | | 139 |
| | Policy benefit reserves | | 1,638 |
| | | | 1,313 |
| | Depreciation | | 70 |
|
| | | 61 |
| | Other | | 0 |
|
| | | 0 |
| | Total deferred income tax liabilities | | 6,894 |
| | | | 5,479 |
| | Deferred income tax assets: | | | | | | | | Other basis differences in investment securities | | 1,167 |
| | | | 1,422 |
| | Unfunded retirement benefits | | 13 |
| | | | 15 |
| | Other accrued expenses | | 11 |
| | | | 7 |
| | Policy and contract claims | | 146 |
| | | | 113 |
| | Foreign currency loss on Japan branch | | 185 |
| | | | 208 |
| | Deferred compensation | | 210 |
| | | | 181 |
| | Capital loss carryforwards | | 3 |
| | | | 0 |
| | Other | | 103 |
| | | | 95 |
| | Total deferred income tax assets | | 1,838 |
| | | | 2,041 |
| | Net deferred income tax liability | | 5,056 |
| | | | 3,438 |
| | Current income tax liability | | 331 |
| | | | 902 |
| | Total income tax liability | | $ | 5,387 |
| | | | $ | 4,340 |
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Summary of Income Tax Contingencies | A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows for the years ended December 31: | | | | | | | | | | | | (In millions) | | 2016 | | | 2015 | | Balance, beginning of year | | $ | 264 |
|
| | $ | 309 |
|
| Additions for tax positions of prior years | | 33 |
| | | 0 |
| | Reductions for tax positions of prior years | | (3 | ) | | | (45 | ) | | Balance, end of year | | $ | 294 |
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| | $ | 264 |
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