Deferred Policy Acquisition Costs and Value of Business Acquired

3 Months Ended

Mar. 31, 2012

Deferred Policy Acquisition Costs and Value of Business Acquired [Abstract]

Deferred Policy Acquisition Costs and Value of Business Acquired

6.  Deferred Policy Acquisition Costs and Value of Business Acquired

Information regarding DAC and VOBA was as follows:

	Three Months Ended March 31,
	2012									2011
	DAC			VOBA			Total			DAC			VOBA			Total
	(In millions)
Balance, beginning of period	$	15,240		$	9,379		$	24,619		$	13,377		$	11,088		$	24,465
Capitalizations		1,364			—			1,364			1,264			—			1,264
Subtotal		16,604			9,379			25,983			14,641			11,088			25,729
Amortization related to:
Net investment gains (losses)		185			7			192			27			3			30
Other expenses		(578	)		(328	)		(906	)		(532	)		(437	)		(969	)
Total amortization		(393	)		(321	)		(714	)		(505	)		(434	)		(939	)
Unrealized investment gains (losses)		(55	)		29			(26	)		6			(1	)		5
Effect of foreign currency translation and other		83			(221	)		(138	)		94			258			352
Balance, end of period	$	16,239		$	8,866		$	25,105		$	14,236		$	10,911		$	25,147

Amortization of DAC and VOBA is attributed to both investment gains and losses and to other expenses for the amount of gross margins or profits originating from transactions other than investment gains and losses. Unrealized investment gains and losses represent the amount of DAC and VOBA that would have been amortized if such gains and losses had been recognized.

See Note 1 for information on the retrospective application of the adoption of new accounting guidance related to DAC.

Information regarding DAC and VOBA by segment, as well as Corporate & Other, was as follows:

	DAC				VOBA				Total
	March 31, 2012		December 31, 2011		March 31, 2012		December 31, 2011		March 31, 2012		December 31, 2011
	(In millions)
Retail Products	$	10,557	$	10,103	$	1,213	$	1,211	$	11,770	$	11,314
Group, Voluntary and Worksite Benefits		748		744		—		—		748		744
Corporate Benefit Funding		83		86		2		3		85		89
Latin America		781		693		377		357		1,158		1,050
Asia		2,950		2,647		6,084		6,553		9,034		9,200
EMEA		1,119		966		1,189		1,254		2,308		2,220
Corporate & Other		1		1		1		1		2		2
Total	$	16,239	$	15,240	$	8,866	$	9,379	$	25,105	$	24,619