Deferred Policy Acquisition Costs, Value of Business Acquired and Other Policy-Related Intangibles (Tables)

12 Months Ended

Dec. 31, 2012

Deferred Policy Acquisition Costs, Value of Business Acquired and Other Policy-Related Intangibles [Abstract]

Schedule of Deferred Policy Acquisition Costs and Value of Business Acquired

	Years Ended December 31,
	2012			2011			2010
	(In millions)
DAC
Balance at January 1,	$	15,240		$	13,377		$	13,551
Capitalizations		5,289			5,558			2,770
Amortization related to:
Net investment gains (losses)		(40	)		(478	)		(92	)
Other expenses		(2,875	)		(2,614	)		(1,875	)
Total amortization		(2,915	)		(3,092	)		(1,967	)
Unrealized investment gains (losses)		(516	)		(427	)		(1,043	)
Effect of foreign currency translation and other		52			(176	)		66
Balance at December 31,		17,150			15,240			13,377
VOBA
Balance at January 1,		9,379			11,088			2,864
Acquisitions		55			11			9,210
Amortization related to:
Net investment gains (losses)		(1	)		(49	)		(16	)
Other expenses		(1,283	)		(1,757	)		(494	)
Total amortization		(1,284	)		(1,806	)		(510	)
Unrealized investment gains (losses)		(197	)		(361	)		(125	)
Effect of foreign currency translation and other		(342	)		447			(351	)
Balance at December 31,		7,611			9,379			11,088
Total DAC and VOBA
Balance at December 31,	$	24,761		$	24,619		$	24,465

Information regarding Deferred Policy Acquisition Costs and Value of Business Acquired by Segment

	December 31,
	2012		2011
	(In millions)
Retail	$	11,500	$	11,681
Group, Voluntary & Worksite Benefits		382		377
Corporate Benefit Funding		96		89
Latin America		1,231		1,050
Asia		9,554		9,554
EMEA		1,998		1,866
Corporate & Other		—		2
Total	$	24,761	$	24,619

Deferred Sales Inducements, Value of Distribution Agreements and Customer Relationships Acquired and Negative Value of Business Acquired

	Years Ended December 31,
	2012			2011			2010
	(In millions)
Deferred Sales Inducements
Balance at January 1,	$	926		$	918		$	841
Capitalization		81			140			157
Amortization		(77	)		(132	)		(80	)
Balance at December 31,	$	930		$	926		$	918
VODA and VOCRA
Balance at January 1,	$	1,264		$	1,094		$	792
Acquisitions		—			213			356
Amortization (1)		(150	)		(60	)		(42	)
Effect of foreign currency translation		(6	)		17			(12	)
Balance at December 31,	$	1,108		$	1,264		$	1,094
Accumulated amortization	$	334		$	184		$	124
Negative VOBA
Balance at January 1,	$	3,657		$	4,287		$	—
Acquisitions		10			7			4,422
Amortization		(622	)		(697	)		(64	)
Effect of foreign currency translation		(129	)		60			(71	)
Balance at December 31,	$	2,916		$	3,657		$	4,287
Accumulated amortization	$	1,383		$	761		$	64

(1) In connection with the Company’s annual impairment testing of VOCRA, it was determined that the VOCRA included in the Group, Voluntary & Worksite Benefits segment, associated with a previously acquired dental business, was impaired as the undiscounted future cash flows associated with the asset were lower than its current carrying value. This shortfall in undiscounted future cash flows is primarily the result of actual persistency experience being less favorable than what was assumed when the asset was acquired. As a result of this impairment, the Company wrote the asset down to its estimated fair value, which was determined using the discounted cash flow valuation approach. The Company recorded a non-cash charge of $77 million ($50 million, net of income tax) for the impairment of the VOCRA balance to other expenses in the consolidated statement of operations for the year ended December 31, 2012.

Estimated Future Amortization Expense (Credit)

	VOBA		VODA and VOCRA		Negative VOBA
	(In millions)
2013	$	1,048	$	77	$	(521	)
2014	$	909	$	80	$	(445	)
2015	$	763	$	81	$	(364	)
2016	$	667	$	77	$	(284	)
2017	$	574	$	73	$	(166	)