Segment Information (Tables)

12 Months Ended

Dec. 31, 2013

Segment Reporting Information, by Segment



	Operating Earnings
	Americas
Year Ended December 31, 2013	Retail			Group, Voluntary & Worksite Benefits			Corporate Benefit Funding			Latin America			Total			Asia			EMEA			Corporate & Other			Total			Adjustments			Total Consolidated
	(In millions)
Revenues
Premiums	$	6,528		$	15,250		$	2,859		$	2,824		$	27,461		$	7,801		$	2,297		$	116		$	37,675		$	(1	)	$	37,674
Universal life and investment-type product policy fees	4,912			688			247			991			6,838			1,722			386			139			9,085			366			9,451
Net investment income	7,898			1,856			5,790			1,246			16,790			2,915			498			381			20,584			1,648			22,232
Other revenues	1,018			418			278			23			1,737			92			97			28			1,954			(34		)	1,920
Net investment gains (losses)	—			—			—			—			—			—			—			—			—			161			161
Net derivative gains (losses)	—			—			—			—			—			—			—			—			—			(3,239		)	(3,239		)
Total revenues	20,356			18,212			9,174			5,084			52,826			12,530			3,278			664			69,298			(1,099		)	68,199
Expenses
Policyholder benefits and claims and policyholder dividends	9,028			14,227			5,402			2,454			31,111			5,755			1,039			63			37,968			1,398			39,366
Interest credited to policyholder account balances	2,331			155			1,233			417			4,136			1,690			147			42			6,015			2,164			8,179
Goodwill impairment	—			—			—			—			—			—			—			—			—			—			—
Capitalization of DAC	(1,309		)	(141		)	(27		)	(424		)	(1,901		)	(2,143		)	(714		)	(28		)	(4,786		)	—			(4,786		)
Amortization of DAC and VOBA	1,384			140			23			310			1,857			1,542			683			1			4,083			(533		)	3,550
Amortization of negative VOBA	—			—			—			(2		)	(2		)	(427		)	(95		)	—			(524		)	(55		)	(579		)
Interest expense on debt	—			1			9			—			10			—			1			1,148			1,159			123			1,282
Other expenses	5,084			2,380			523			1,612			9,599			4,312			1,810			894			16,615			520			17,135
Total expenses	16,518			16,762			7,163			4,367			44,810			10,729			2,871			2,120			60,530			3,617			64,147
Provision for income tax expense (benefit)	1,314			488			704			143			2,649			557			78			(925		)	2,359			(1,698		)	661
Operating earnings	$	2,524		$	962		$	1,307		$	574		$	5,367		$	1,244		$	329		$	(531	)	6,409
Adjustments to:
Total revenues																									(1,099		)
Total expenses																									(3,617		)
Provision for income tax (expense) benefit																									1,698
Income (loss) from continuing operations, net of income tax																									$	3,391					$	3,391



At December 31, 2013	Retail		Group, Voluntary & Worksite Benefits		Corporate Benefit Funding		Latin America		Asia (1)		EMEA		Corporate & Other		Total
	(In millions)
Total assets	$	349,516	$	43,404	$	220,612	$	69,874	$	119,717	$	33,382	$	48,791	$	885,296
Separate account assets	$	172,382	$	644	$	77,023	$	49,660	$	8,996	$	8,496	$	—	$	317,201
Separate account liabilities	$	172,382	$	644	$	77,023	$	49,660	$	8,996	$	8,496	$	—	$	317,201

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(1)	Total assets includes $98.4 billion of assets from the Japan operations which represents 11% of total consolidated assets.



	Operating Earnings
	Americas
Year Ended December 31, 2012	Retail			Group, Voluntary & Worksite Benefits			Corporate Benefit Funding			Latin America			Total			Asia			EMEA			Corporate & Other			Total			Adjustments			Total Consolidated
	(In millions)
Revenues
Premiums	$	6,532		$	14,794		$	3,237		$	2,578		$	27,141		$	8,344		$	2,370		$	56		$	37,911		$	64		$	37,975
Universal life and investment-type product policy fees	4,561			662			225			785			6,233			1,491			333			155			8,212			344			8,556
Net investment income	7,670			1,768			5,703			1,198			16,339			2,895			535			703			20,472			1,512			21,984
Other revenues	879			422			259			16			1,576			26			121			33			1,756			150			1,906
Net investment gains (losses)	—			—			—			—			—			—			—			—			—			(352		)	(352		)
Net derivative gains (losses)	—			—			—			—			—			—			—			—			—			(1,919		)	(1,919		)
Total revenues	19,642			17,646			9,424			4,577			51,289			12,756			3,359			947			68,351			(201		)	68,150
Expenses
Policyholder benefits and claims and policyholder dividends	9,010			13,691			5,704			2,231			30,636			5,819			1,196			119			37,770			1,586			39,356
Interest credited to policyholder account balances	2,375			167			1,358			393			4,293			1,784			126			39			6,242			1,487			7,729
Goodwill impairment	—			—			—			—			—			—			—			—			—			1,868			1,868
Capitalization of DAC	(1,753		)	(138		)	(29		)	(353		)	(2,273		)	(2,288		)	(723		)	—			(5,284		)	(5		)	(5,289		)
Amortization of DAC and VOBA	1,607			133			22			224			1,986			1,563			626			2			4,177			22			4,199
Amortization of negative VOBA	—			—			—			(5		)	(5		)	(456		)	(94		)	—			(555		)	(67		)	(622		)
Interest expense on debt	—			1			8			(1		)	8			5			1			1,176			1,190			166			1,356
Other expenses	5,369			2,351			478			1,375			9,573			4,738			1,810			559			16,680			1,431			18,111
Total expenses	16,608			16,205			7,541			3,864			44,218			11,165			2,942			1,895			60,220			6,488			66,708
Provision for income tax expense (benefit)	1,032			481			659			130			2,302			554			146			(679		)	2,323			(2,195		)	128
Operating earnings	$	2,002		$	960		$	1,224		$	583		$	4,769		$	1,037		$	271		$	(269	)	5,808
Adjustments to:
Total revenues																									(201		)
Total expenses																									(6,488		)
Provision for income tax (expense) benefit																									2,195
Income (loss) from continuing operations, net of income tax																									$	1,314					$	1,314



At December 31, 2012	Retail		Group, Voluntary & Worksite Benefits		Corporate Benefit Funding		Latin America		Asia (1)		EMEA		Corporate & Other		Total
	(In millions)
Total assets	$	332,387	$	44,138	$	217,352	$	23,272	$	131,138	$	23,474	$	65,020	$	836,781
Separate account assets	$	150,513	$	532	$	71,875	$	4,200	$	8,273	$	—	$	—	$	235,393
Separate account liabilities	$	150,513	$	532	$	71,875	$	4,200	$	8,273	$	—	$	—	$	235,393

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(1)	Total assets includes $111.0 billion of assets from the Japan operations which represents 13% of total consolidated assets.



	Operating Earnings
	Americas
Year Ended December 31, 2011	Retail			Group, Voluntary & Worksite Benefits			Corporate Benefit Funding			Latin America			Total			Asia			EMEA			Corporate & Other			Total			Adjustments			Total Consolidated
	(In millions)
Revenues
Premiums	$	6,711		$	13,949		$	2,848		$	2,514		$	26,022		$	7,716		$	2,477		$	54		$	36,269		$	92		$	36,361
Universal life and investment-type product policy fees	4,096			630			232			757			5,715			1,343			315			155			7,528			278			7,806
Net investment income	7,414			1,768			5,506			1,025			15,713			2,475			562			888			19,638			(53		)	19,585
Other revenues	779			390			249			15			1,433			36			123			60			1,652			880			2,532
Net investment gains (losses)	—			—			—			—			—			—			—			—			—			(867		)	(867		)
Net derivative gains (losses)	—			—			—			—			—			—			—			—			—			4,824			4,824
Total revenues	19,000			16,737			8,835			4,311			48,883			11,570			3,477			1,157			65,087			5,154			70,241
Expenses
Policyholder benefits and claims and policyholder dividends	9,220			13,015			5,287			2,064			29,586			5,239			1,290			126			36,241			676			36,917
Interest credited to policyholder account balances	2,412			178			1,323			371			4,284			1,607			166			—			6,057			(454		)	5,603
Goodwill impairment	—			—			—			—			—			—			—			—			—			—			—
Capitalization of DAC	(2,339		)	(176		)	(25		)	(295		)	(2,835		)	(2,045		)	(669		)	—			(5,549		)	(9		)	(5,558		)
Amortization of DAC and VOBA	1,845			186			17			207			2,255			1,486			613			1			4,355			543			4,898
Amortization of negative VOBA	—			—			—			(6		)	(6		)	(560		)	(53		)	—			(619		)	(78		)	(697		)
Interest expense on debt	1			—			9			1			11			—			—			1,293			1,304			325			1,629
Other expenses	5,854			2,198			513			1,305			9,870			4,522			1,723			505			16,620			1,645			18,265
Total expenses	16,993			15,401			7,124			3,647			43,165			10,249			3,070			1,925			58,409			2,648			61,057
Provision for income tax expense (benefit)	672			445			599			150			1,866			441			156			(584		)	1,879			914			2,793
Operating earnings	$	1,335		$	891		$	1,112		$	514		$	3,852		$	880		$	251		$	(184	)	4,799
Adjustments to:
Total revenues																									5,154
Total expenses																									(2,648		)
Provision for income tax (expense) benefit																									(914		)
Income (loss) from continuing operations, net of income tax																									$	6,391					$	6,391

Premiums, Universal Life and Investment-Type Policy Fees and Other Revenue by Product Groups for Reportable Segment

The following table presents total premiums, universal life and investment-type product policy fees and other revenues by major product groups of the Company’s segments, as well as Corporate & Other:



	Years Ended December 31,
	2013		2012		2011
	(In millions)
Life insurance (1)	$	32,176	$	31,723	$	30,486
Accident and health insurance	13,214		13,255		12,269
Property and casualty insurance	3,270		3,117		3,043
Non-insurance	385		342		901
Total	$	49,045	$	48,437	$	46,699

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(1)	Includes annuities and corporate benefit funding products.

Total premiums, universal life & investment-type product policy fees and other revenues associated with the Company's U.S. and foreign operations

The following table presents total premiums, universal life and investment-type product policy fees and other revenues associated with the Company’s U.S. and foreign operations:



	Years Ended December 31,
	2013		2012		2011
	(In millions)
U.S.	$	32,529	$	31,500	$	30,108
Foreign:
Japan	7,373		7,833		7,184
Other	9,143		9,104		9,407
Total	$	49,045	$	48,437	$	46,699

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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