Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation


	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
	Fixed Maturity Securities:
	U.S. Corporate Securities			Foreign Corporate Securities			Foreign Government Securities			RMBS			U.S. Treasury and Agency Securities			CMBS			State and Political Subdivision Securities			ABS			Other Fixed Maturity Securities
	(In millions)
Year Ended December 31, 2011:
Balance, January 1,	$	7,149		$	5,726		$	3,134		$	2,541		$	79		$	1,011		$	46		$	3,026		$	4
Total realized/unrealized gains (losses) included in:
Earnings: (1), (2)
Net investment income		11			27			18			10			—			25			—			24			—
Net investment gains (losses)		17			(9	)		—			(41	)		—			(16	)		—			(18	)		—
Net derivative gains (losses)		—			—			—			—			—			—			—			—			—
Other revenues		—			—			—			—			—			—			—			—			—
Policyholder benefits and claims		—			—			—			—			—			—			—			—			—
Other expenses		—			—			—			—			—			—			—			—			—
Other comprehensive income (loss)		327			(66	)		—			(5	)		3			71			(8	)		81			—
Purchases (3)		912			1,740			529			393			6			283			11			1,033			—
Sales (3)		(887	)		(2,094	)		(179	)		(213	)		(1	)		(178	)		(4	)		(659	)		(4	)
Issuances (3)		—			—			—			—			—			—			—			—			—
Settlements (3)		—			—			—			—			—			—			—			—			—
Transfers into Level 3 (4)		169			211			123			20			—			52			10			14			—
Transfers out of Level 3 (4)		(914	)		(1,165	)		(1,303	)		(1,103	)		(56	)		(495	)		(2	)		(1,651	)		—

Balance, December 31,	$	6,784		$	4,370		$	2,322		$	1,602		$	31		$	753		$	53		$	1,850		$	—

Changes in unrealized gains (losses) relating to assets and liabilities still held at December 31, 2011 included in earnings:
Net investment income	$	10		$	19		$	18		$	11		$	—		$	24		$	—		$	20		$	—
Net investment gains (losses)	$	(27	)	$	(31	)	$	(3	)	$	(41	)	$	—		$	(14	)	$	—		$	(10	)	$	—
Net derivative gains (losses)	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Other revenues	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Policyholder benefits and claims	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Other expenses	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—


	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
	Equity Securities:						Trading and Other Securities:									Short-term Investments			Residential Mortgage Loans Held- for-sale			Securitized Reverse Residential Mortgage Loans
	Common Stock			Non- redeemable Preferred Stock			Actively Traded Securities			FVO General Account Securities			FVO Contractholder- directed Unit-linked Investments			Short-term Investments			Residential Mortgage Loans Held- for-sale			Securitized Reverse Residential Mortgage Loans
	(In millions)
Year Ended December 31, 2011:
Balance, January 1,	$	268		$	905		$	10		$	77		$	735		$	858		$	24		$	—
Total realized/unrealized gains (losses) included in:
Earnings: (1), (2)
Net investment income		—			—			—			(7	)		5			3			—			—
Net investment gains (losses)		14			(71	)		—			—			—			(2	)		—			—
Net derivative gains (losses)		—			—			—			—			—			—			—			—
Other revenues		—			—			—			—			—			—			5			—
Policyholder benefits and claims		—			—			—			—			—			—			—			—
Other expenses		—			—			—			—			—			—			—			—
Other comprehensive income (loss)		5			5			—			—			—			2			—			—
Purchases (3)		106			3			—			—			1,246			600			3			—
Sales (3)		(46	)		(416	)		(8	)		(33	)		(478	)		(870	)		—			—
Issuances (3)		—			—			—			—			—			—			175			1,186
Settlements (3)		—			—			—			—			—			—			(87	)		—
Transfers into Level 3 (4)		—			12			—			—			121			—			109			—
Transfers out of Level 3 (4)		(66	)		—			(2	)		(14	)		(243	)		(1	)		(1	)		—

Balance, December 31,	$	281		$	438		$	—		$	23		$	1,386		$	590		$	228		$	1,186

Changes in unrealized gains (losses) relating to assets and liabilities still held at December 31, 2011 included in earnings:
Net investment income	$	—		$	—		$	—		$	(8	)	$	(4	)	$	—		$	—		$	—
Net investment gains (losses)	$	(6	)	$	(19	)	$	—		$	—		$	—		$	(1	)	$	—		$	—
Net derivative gains (losses)	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Other revenues	$	—		$	—		$	—		$	—		$	—		$	—		$	5		$	—
Policyholder benefits and claims	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Other expenses	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—


	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
	MSRs (5), (6)			Net Derivatives: (7)												Net Embedded Derivatives (8)			Separate Account Assets (9)			Long-term Debt of CSEs
	MSRs (5), (6)			Interest Rate Contracts			Foreign Currency Contracts			Credit Contracts			Equity Market Contracts			Net Embedded Derivatives (8)			Separate Account Assets (9)			Long-term Debt of CSEs			Liability Related to Securitized Reverse Mortgage Loans
	(In millions)
Year Ended December 31, 2011:
Balance, January 1,	$	950		$	(86	)	$	73		$	44		$	142		$	(2,438	)	$	1,983		$	(184	)	$	—
Total realized/unrealized gains (losses) included in:
Earnings: (1), (2)
Net investment income		—			—			—			—			(3	)		—			—			—			—
Net investment gains (losses)		—			—			—			—			—			—			39			(8	)		—
Net derivative gains (losses)		—			41			(28	)		(43	)		601			(1,277	)		—			—			—
Other revenues		(314	)		62			—			—			—			—			—			—			—
Policyholder benefits and claims		—			—			—			—			7			86			—			—			—
Other expenses		—			—			—			—			—			—			—			—			—
Other comprehensive income (loss)		—			329			—			14			1			(119	)		—			—			—
Purchases (3)		—			(1	)		—			1			228			—			284			—			—
Sales (3)		—			—			—			—			—			—			(743	)		—			—
Issuances (3)		173			—			—			(3	)		(4	)		—			—			—			(1,175	)
Settlements (3)		(143	)		(44	)		(1	)		(12	)		(8	)		(455	)		—			76			—
Transfers into Level 3 (4)		—			(1	)		—			—			—			—			19			—			—
Transfers out of Level 3 (4)		—			—			—			—			(75	)		—			(257	)		—			—

Balance, December 31,	$	666		$	300		$	44		$	1		$	889		$	(4,203	)	$	1,325		$	(116	)	$	(1,175	)

Changes in unrealized gains (losses) relating to assets and liabilities still held at December 31, 2011 included in earnings:
Net investment income	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Net investment gains (losses)	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	(8	)	$	—
Net derivative gains (losses)	$	—		$	24		$	(24	)	$	(42	)	$	601		$	(1,303	)	$	—		$	—		$	—
Other revenues	$	(282	)	$	68		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Policyholder benefits and claims	$	—		$	—		$	—		$	—		$	7		$	94		$	—		$	—		$	—
Other expenses	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—


	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
	Fixed Maturity Securities:
	U.S. Corporate Securities			Foreign Corporate Securities			Foreign Government Securities			RMBS			U.S. Treasury and Agency Securities			CMBS			State and Political Subdivision Securities			ABS			Other Fixed Maturity Securities
	(In millions)
Year Ended December 31, 2010:
Balance, January 1,	$	6,694		$	5,244		$	378		$	2,884		$	37		$	139		$	69		$	1,659		$	6
Total realized/unrealized gains (losses) included in:
Earnings: (1), (2)
Net investment income		22			15			6			64			—			1			—			9			1
Net investment gains (losses)		(13	)		(34	)		(5	)		(59	)		—			(6	)		—			(40	)		—
Net derivative gains (losses)		—			—			—			—			—			—			—			—			—
Other revenues		—			—			—			—			—			—			—			—			—
Policyholder benefits and claims		—			—			—			—			—			—			—			—			—
Other expenses		—			—			—			—			—			—			—			—			—
Other comprehensive income (loss)		277			318			(95	)		305			2			89			(2	)		168			2
Purchases, sales, issuances and settlements (3)		(415	)		305			2,965			(445	)		(6	)		684			9			1,435			(5	)
Transfers into Level 3 (4)		898			502			40			91			46			132			—			28			—
Transfers out of Level 3 (4)		(314	)		(624	)		(155	)		(299	)		—			(28	)		(30	)		(233	)		—

Balance, December 31,	$	7,149		$	5,726		$	3,134		$	2,541		$	79		$	1,011		$	46		$	3,026		$	4

Changes in unrealized gains (losses) relating to assets and liabilities still held at December 31, 2010 included in earnings:
Net investment income	$	13		$	15		$	10		$	63		$	—		$	1		$	—		$	9		$	1
Net investment gains (losses)	$	(44	)	$	(43	)	$	—		$	(29	)	$	—		$	(6	)	$	—		$	(23	)	$	—
Net derivative gains (losses)	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Other revenues	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Policyholder benefits and claims	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Other expenses	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—


	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
	Equity Securities:						Trading and Other Securities:									Short-term Investments			Residential Mortgage Loans Held- for-sale			MSRs (5), (6)
	Common Stock			Non- redeemable Preferred Stock			Actively Traded Securities			FVO General Account Securities			FVO Contractholder- directed Unit-linked Investments			Short-term Investments			Residential Mortgage Loans Held- for-sale			MSRs (5), (6)
	(In millions)
Year Ended December 31, 2010:
Balance, January 1,	$	136		$	1,102		$	32		$	51		$	—		$	23		$	25		$	878
Total realized/unrealized gains (losses) included in:
Earnings: (1), (2)
Net investment income		—			—			—			8			(15	)		2			—			—
Net investment gains (losses)		5			46			—			—			—			—			—			—
Net derivative gains (losses)		—			—			—			—			—			—			—			—
Other revenues		—			—			—			—			—			—			(2	)		(79	)
Policyholder benefits and claims		—			—			—			—			—			—			—			—
Other expenses		—			—			—			—			—			—			—			—
Other comprehensive income (loss)		7			12			—			—			—			(9	)		—			—
Purchases, sales, issuances and settlements (3)		128			(250	)		(22	)		(1	)		750			842			—			151
Transfers into Level 3 (4)		1			—			—			37			—			—			10			—
Transfers out of Level 3 (4)		(9	)		(5	)		—			(18	)		—			—			(9	)		—

Balance, December 31,	$	268		$	905		$	10		$	77		$	735		$	858		$	24		$	950

Changes in unrealized gains (losses) relating to assets and liabilities still held at December 31, 2010 included in earnings:
Net investment income	$	—		$	—		$	—		$	12		$	(15	)	$	2		$	—		$	—
Net investment gains (losses)	$	(2	)	$	(3	)	$	—		$	—		$	—		$	—		$	—		$	—
Net derivative gains (losses)	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Other revenues	$	—		$	—		$	—		$	—		$	—		$	—		$	(2	)	$	(28	)
Policyholder benefits and claims	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Other expenses	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—


	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
	Net Derivatives: (7)												Net Embedded Derivatives (8)			Separate Account Assets (9)			Long-term Debt of CSEs (10)
	Interest Rate Contracts			Foreign Currency Contracts			Credit Contracts			Equity Market Contracts			Net Embedded Derivatives (8)			Separate Account Assets (9)			Long-term Debt of CSEs (10)
	(In millions)
Year Ended December 31, 2010:
Balance, January 1,	$	7		$	108		$	42		$	199		$	(1,455	)	$	1,797		$	—
Total realized/unrealized gains (losses) included in:
Earnings: (1), (2)
Net investment income		—			—			—			—			—			—			—
Net investment gains (losses)		—			—			—			—			—			132			48
Net derivative gains (losses)		36			46			4			(88	)		(343	)		—			—
Other revenues		1			—			—			—			—			—			—
Policyholder benefits and claims		—			—			—			—			8			—			—
Other expenses		—			(4	)		—			—			—			—			—
Other comprehensive income (loss)		(107	)		2			13			11			(226	)		—			—
Purchases, sales, issuances and settlements (3)		(23	)		(57	)		(15	)		20			(422	)		242			(232	)
Transfers into Level 3 (4)		—			—			—			—			—			46			—
Transfers out of Level 3 (4)		—			(22	)		—			—			—			(234	)		—

Balance, December 31,	$	(86	)	$	73		$	44		$	142		$	(2,438	)	$	1,983		$	(184	)

Changes in unrealized gains (losses) relating to assets and liabilities still held at December 31, 2010 included in earnings:
Net investment income	$	—		$	—		$	—		$	—		$	—		$	—		$	—
Net investment gains (losses)	$	—		$	—		$	—		$	—		$	—		$	—		$	48
Net derivative gains (losses)	$	36		$	45		$	6		$	(82	)	$	(363	)	$	—		$	—
Other revenues	$	5		$	—		$	—		$	—		$	—		$	—		$	—
Policyholder benefits and claims	$	—		$	—		$	—		$	—		$	8		$	—		$	—
Other expenses	$	—		$	—		$	—		$	—		$	—		$	—		$	—


	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
	Fixed Maturity Securities:
	U.S. Corporate Securities			Foreign Corporate Securities			Foreign Government Securities			RMBS			U.S. Treasury and Agency Securities			CMBS			State and Political Subdivision Securities			ABS			Other Fixed Maturity Securities
	(In millions)
Year Ended December 31, 2009:
Balance, January 1,	$	7,498		$	5,906		$	386		$	1,655		$	88		$	260		$	123		$	1,383		$	40
Total realized/unrealized gains (losses) included in:
Earnings: (1), (2)
Net investment income		15			(4	)		12			36			—			1			—			2			1
Net investment gains (losses)		(444	)		(326	)		(52	)		(27	)		—			(37	)		—			(101	)		—
Net derivative gains (losses)		—			—			—			—			—			—			—			—			—
Other revenues		—			—			—			—			—			—			—			—			—
Policyholder benefits and claims		—			—			—			—			—			—			—			—			—
Other expenses		—			—			—			—			—			—			—			—			—
Other comprehensive income (loss)		940			1,515			53			210			(1	)		53			7			473			—
Purchases, sales, issuances and settlements (3)		(1,359	)		(519	)		12			1,126			(29	)		(44	)		(19	)		(139	)		(35	)
Transfers into and/or out of level 3 (4)		44			(1,328	)		(33	)		(116	)		(21	)		(94	)		(42	)		41			—

Balance, December 31,	$	6,694		$	5,244		$	378		$	2,884		$	37		$	139		$	69		$	1,659		$	6

Changes in unrealized gains (losses) relating to assets and liabilities still held at December 31, 2009 included in earnings:
Net investment income	$	18		$	(3	)	$	11		$	36		$	—		$	1		$	—		$	2		$	1
Net investment gains (losses)	$	(412	)	$	(176	)	$	—		$	(82	)	$	—		$	(61	)	$	—		$	(48	)	$	—
Net derivative gains (losses)	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Other revenues	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Policyholder benefits and claims	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Other expenses	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—


	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
	Equity Securities:
	Common Stock			Non- redeemable Preferred Stock			Trading and Other Securities			Short-term Investments			Residential Mortgage Loans Held- for-sale			MSRs (5), (6)
	(In millions)
Year Ended December 31, 2009:
Balance, January 1,	$	105		$	1,274		$	175		$	100		$	177		$	191
Total realized/unrealized gains (losses) included in:
Earnings: (1), (2)
Net investment income		—			—			16			—			—			—
Net investment gains (losses)		(2	)		(357	)		—			(21	)		—			—
Net derivative gains (losses)		—			—			—			—			—			—
Other revenues		—			—			—			—			(3	)		172
Policyholder benefits claims		—			—			—			—			—			—
Other expenses		—			—			—			—			—			—
Other comprehensive income (loss)		6			486			—			—			—			—
Purchases, sales, issuances and settlements (3)		23			(256	)		(108	)		(51	)		2			515
Transfers into and/or out of level 3 (4)		4			(45	)		—			(5	)		(151	)		—

Balance, December 31,	$	136		$	1,102		$	83		$	23		$	25		$	878

Changes in unrealized gains (losses) relating to assets and liabilities still held at December 31, 2009 included in earnings:
Net investment income	$	—		$	—		$	15		$	—		$	—		$	—
Net investment gains (losses)	$	(1	)	$	(168	)	$	—		$	1		$	—		$	—
Net derivative gains (losses)	$	—		$	—		$	—		$	—		$	—		$	—
Other revenues	$	—		$	—		$	—		$	—		$	(3	)	$	147
Policyholder benefits and claims	$	—		$	—		$	—		$	—		$	—		$	—
Other expenses	$	—		$	—		$	—		$	—		$	—		$	—


	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
	Net Derivatives (7)			Net Embedded Derivatives (8)			Separate Account Assets (9)			Long-term Debt CSEs
	(In millions)
Year Ended December 31, 2009:
Balance, January 1,	$	2,547		$	(2,929	)	$	1,677		$	—
Total realized/unrealized gains (losses) included in:
Earnings: (1), (2)
Net investment income		(13	)		—			—			—
Net investment gains (losses)		—			—			(223	)		—
Net derivative gains (losses)		(225	)		1,716			—			—
Other revenues		(33	)		—			—			—
Policyholder benefits and claims		—			(114	)		—			—
Other expenses		(2	)		—			—			—
Other comprehensive income (loss)		(11	)		15			—			—
Purchases, sales, issuances and settlements (3)		97			(143	)		478			—
Transfers into and/or out of level 3 (4)		(2,004	)		—			(135	)		—

Balance, December 31,	$	356		$	(1,455	)	$	1,797		$	—

Changes in unrealized gains (losses) relating to assets and liabilities still held at December 31, 2009 included in earnings:
Net investment income	$	(13	)	$	—		$	—		$	—
Net investment gains (losses)	$	—		$	—		$	—		$	—
Net derivative gains (losses)	$	(194	)	$	1,697		$	—		$	—
Other revenues	$	5		$	—		$	—		$	—
Policyholder benefits and claims	$	—		$	(114	)	$	—		$	—
Other expenses	$	(2	)	$	—		$	—		$	—

(1)

Amortization of premium/discount is included within net investment income. Impairments charged to earnings on securities and certain mortgage loans are included within net investment gains (losses) while changes in estimated fair value of certain mortgage loans and MSRs are recorded in other revenues. Lapses associated with net embedded derivatives are included within net derivative gains (losses).

(2)	Interest and dividend accruals, as well as cash interest coupons and dividends received, are excluded from the rollforward.

(3)

The amount reported within purchases, sales, issuances and settlements is the purchase or issuance price and the sales or settlement proceeds based upon the actual date purchased or issued and sold or settled, respectively. Items purchased/issued and sold/settled in the same period are excluded from the rollforward. For the year ended December 31, 2011, fees attributed to net embedded derivatives are included within settlements. For the years ended December 31, 2010 and 2009, fees attributed to net embedded derivatives are included within purchases, sales, issuances and settlements. Purchases, sales, issuances and settlements for the year ended December 31, 2010 include financial instruments acquired from ALICO as follows: $5.4 billion of fixed maturity securities, $68 million of equity securities, $582 million of trading and other securities, $216 million of short-term investments, ($10) million of net derivatives, $244 million of separate account assets and ($116) million of net embedded derivatives.

(4)	Total gains and losses (in earnings and other comprehensive income (loss)) are calculated assuming transfers into and/or out of Level 3 occurred at the beginning of the period. Items transferred into and/or out of Level 3 in the same period are excluded from the rollforward.

(5)

The additions for purchases, originations and issuances and the reductions for loan payments, sales and settlements, affecting MSRs were $173 million and ($143) million, respectively, for the year ended December 31, 2011. The additions for purchases, originations and issuances and the reductions for loan payments, sales and settlements, affecting MSRs were $330 million and ($179) million, respectively, for the year ended December 31, 2010. The additions for purchases, originations and issuances and the reductions for loan payments, sales and settlements, affecting MSRs were $628 million and ($113) million, respectively, for the year ended December 31, 2009.

(6)

The changes in estimated fair value due to changes in valuation model inputs or assumptions were ($314) million, ($79) million and $172 million for the years ended December 31, 2011, 2010 and 2009, respectively. For the years ended December 31, 2011, 2010 and 2009 there were no other changes in estimated fair value affecting MSRs.

(7)	Freestanding derivative assets and liabilities are presented net for purposes of the rollforward.

(8)	Embedded derivative assets and liabilities are presented net for purposes of the rollforward.

(9)

Investment performance related to separate account assets is fully offset by corresponding amounts credited to contractholders within separate account liabilities. Therefore, such changes in estimated fair value are not recorded in net income. For the purpose of this disclosure, these changes are presented within net investment gains (losses).

(10)	The long-term debt of the CSEs at January 1, 2010 is reported within the purchases, sales, issuances and settlements caption of the rollforward.

Changes in estimated fair value residential mortgage loans held-for-sale


	Years Ended December 31,
	2011			2010			2009
	(In millions)
Instrument-specific credit risk based on changes in credit spreads for non-agency loans and adjustments in individual loan quality	$	(3	)	$	(1	)	$	(2	)
Other changes in estimated fair value		511			487			600

Total gains (losses) recognized in other revenues	$	508		$	486		$	598

Fair value liabilities measured on recurring basis liability related to securitized reverse residential mortgage loans


	December 31, 2011
	(In millions)
Contractual principal balance	$	6,914
Excess of estimated fair value over contractual principal balance		712

Carrying value at estimated fair value	$	7,626

Commercial mortgage loans and securities classified as trading securities the related long-term debt carried under fair value option


	December 31,
	2011		2010
	(In millions)
Contractual principal balance	$	2,954	$	6,619
Excess of estimated fair value over contractual principal balance		114		201

Carrying value at estimated fair value	$	3,068	$	6,820

Fair value of financial instruments


	December 31,
	2011						2010
	Notional Amount		Carrying Value		Estimated Fair Value		Notional Amount		Carrying Value		Estimated Fair Value
	(In millions)
Assets:
Mortgage loans: (1)
Held-for-investment			$	53,777	$	56,422			$	52,136	$	53,927
Held-for-sale				4,462		4,462				811		811

Mortgage loans, net			$	58,239	$	60,884			$	52,947	$	54,738
Policy loans			$	11,892	$	14,213			$	11,761	$	13,253
Real estate joint ventures (2)			$	130	$	183			$	451	$	482
Other limited partnership interests (2)			$	1,318	$	1,656			$	1,539	$	1,619
Short-term investments (3)			$	450	$	450			$	819	$	819
Other invested assets (2)			$	1,434	$	1,434			$	1,490	$	1,490
Cash and cash equivalents			$	10,461	$	10,461			$	12,957	$	12,957
Accrued investment income			$	4,344	$	4,344			$	4,328	$	4,328
Premiums, reinsurance and other receivables (2)			$	4,639	$	5,232			$	3,752	$	4,048
Other assets (2)			$	310	$	308			$	466	$	453
Assets of subsidiaries held-for-sale (2)			$	—	$	—			$	3,068	$	3,068
Liabilities:
PABs (2)			$	146,890	$	153,304			$	146,822	$	152,745
Payables for collateral under securities loaned and other transactions			$	33,716	$	33,716			$	27,272	$	27,272
Bank deposits			$	10,507	$	10,507			$	10,316	$	10,371
Short-term debt			$	686	$	686			$	306	$	306
Long-term debt (2), (4)			$	20,587	$	22,514			$	20,734	$	21,892
Collateral financing arrangements			$	4,647	$	4,136			$	5,297	$	4,757
Junior subordinated debt securities			$	3,192	$	3,491			$	3,191	$	3,461
Other liabilities (2), (5)			$	4,087	$	4,087			$	2,777	$	2,777
Separate account liabilities (2)			$	49,610	$	49,610			$	42,160	$	42,160
Liabilities of subsidiaries held-for-sale (2)			$	—	$	—			$	105	$	105
Commitments: (6)
Mortgage loan commitments	$	4,129	$	—	$	3	$	3,754	$	—	$	(17	)
Commitments to fund bank credit facilities, bridge loans and private corporate bond investments	$	1,432	$	—	$	51	$	2,437	$	—	$	—

(1)	Mortgage loans held-for-investment as presented in the table above differ from the amounts presented in the consolidated balance sheets because this table does not include commercial mortgage loans held by CSEs, which are accounted for under the FVO.

Mortgage loans held-for-sale as presented in the table above differ from the amounts presented in the consolidated balance sheets because this table only includes mortgage loans that were previously designated as held-for-investment but now are designated as held-for-sale and stated at lower of amortized cost or estimated fair value.

(2)

Carrying values presented herein differ from those presented in the consolidated balance sheets because certain items within the respective financial statement caption are not considered financial instruments. Financial statement captions excluded from the table above are not considered financial instruments.

(3)	Short-term investments as presented in the table above differ from the amounts presented in the consolidated balance sheets because this table does not include short-term investments that meet the definition of a security, which are measured at estimated fair value on a recurring basis.

(4)	Long-term debt as presented in the table above does not include long-term debt of CSEs, which is accounted for under the FVO.

(5)

Other liabilities as presented in the table above differ from the amounts presented in the consolidated balance sheets because certain items within other liabilities are not considered financial instruments and this table does not include the liability related to securitized reverse residential mortgage loans, which are accounted for under the FVO.

(6)	Commitments are off-balance sheet obligations. Negative estimated fair values represent off-balance sheet liabilities.