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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Millions
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
Revenues        
Premiums $ 145 $ 154 $ 316 $ 307
Contract charges 251 248 498 494
Net investment income 673 700 1,335 1,407
Realized capital gains and losses:        
Total other-than-temporary impairment losses (41) (174) (123) (353)
Portion of loss recognized in other comprehensive income (6) (24) (13) (10)
Net other-than-temporary impairment losses recognized in earnings (47) (198) (136) (363)
Sales and other realized capital gains and losses 119 (154) 253 (150)
Total realized capital gains and losses 72 (352) 117 (513)
Total Revenues 1,141 750 2,266 1,695
Costs and expenses        
Contract benefits 350 406 732 770
Interest credited to contractholder funds 407 439 815 891
Amortization of deferred policy acquisition costs 90 14 214 81
Operating costs and expenses 79 83 156 169
Restructuring and related charges   (1) (2) (1)
Interest expense 11 11 22 22
Total Costs and expenses 937 952 1,937 1,932
Gain on disposition of operations 2 2 4 3
Income (loss) from operations before income tax expense (benefit) 206 (200) 333 (234)
Income tax expense (benefit) 69 (73) 109 (89)
Net income (loss) $ 137 $ (127) $ 224 $ (145)