Comprehensive Income

9 Months Ended

Sep. 30, 2013

Equity [Abstract]

Comprehensive Income

3) Comprehensive Income

Comprehensive income is defined as all changes in shareholders’ equity, except those arising from transactions with shareholders. Comprehensive income includes net income and other comprehensive income or loss, which for the Corporation consists of changes in unrealized appreciation or depreciation of investments carried at fair value, changes in unrealized other-than-temporary impairment losses of fixed maturities, changes in foreign currency translation gains or losses and changes in postretirement benefit costs not yet recognized in net income.

The components of other comprehensive income or loss were as follows:

	Periods Ended September 30, 2013
	Third Quarter									Nine Months
	Before Tax			Income Tax			Net of Tax			Before Tax			Income Tax			Net of Tax
	(in millions)
Net unrealized holding losses arising during the period	$	(10	)	$	(3	)	$	(7	)	$	(896	)	$	(313	)	$	(583	)
Reclassification adjustment for net realized gains (losses) included in net income		(5	)		(1	)		(4	)		179			63			116
Net unrealized losses recognized in other comprehensive income or loss		(5	)		(2	)		(3	)		(1,075	)		(376	)		(699	)
Postretirement benefit costs not yet recognized in net income arising during the period		1			1			—			2			1			1
Reclassification adjustment for the amortization of net actuarial loss and prior service cost (a)		(23	)		(8	)		(15	)		(70	)		(25	)		(45	)
Net change in postretirement benefit costs not yet recognized in net income		24			9			15			72			26			46
Foreign currency translation losses		(64	)		(23	)		(41	)		(99	)		(36	)		(63	)
Total other comprehensive loss	$	(45	)	$	(16	)	$	(29	)	$	(1,102	)	$	(386	)	$	(716	)

(a) Postretirement benefit costs recognized in net income during the period are included among several of the loss and expense components presented in the Consolidated Statements of Income.