XML 43 R43.htm IDEA: XBRL DOCUMENT v2.4.0.8
Fair Value Measurements (Details 4) (USD $)
In Millions, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
Mar. 31, 2013
Dec. 31, 2012
Mar. 31, 2012
Dec. 31, 2011
Equity Securities [Member] | Available-for-sale Securities [Member]
               
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]                
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value $ 58 [1] $ 56 [1] $ 58 [1] $ 56 [1] $ 62 [1] $ 55 $ 57 [1] $ 56
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings (4) [1],[2],[3] (2) [1],[3],[4],[5] (8) 2 [2],[3]        
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Period Increase (Decrease) (4) [1],[3],[5] (2) [1],[3],[5] (7) 2 [3],[5]        
Roll Forward of Financial Instruments (Assets Netted Against Liabilities) Measured at Fair Value on Recurring Basis Using Significant Unobservable Inputs (Level 3)                
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss) 0 [1],[6] 0 [1],[6] 6 (2) [6]        
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases 0 [1] 2 [1] 7 10        
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements 0 [1] 0 [1] 0 0        
Sales 0 [1] (1) [1] (2) (10)        
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3      0          
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3 0 [1],[7] 0 [1],[7] 0 0 [7]        
Freestanding Derivatives [Member]
               
Roll Forward of Financial Instruments (Assets Netted Against Liabilities) Measured at Fair Value on Recurring Basis Using Significant Unobservable Inputs (Level 3)                
Fair Value of Financial Instruments (Assets Netted Against Liabilities), Measured at Fair Value on a Recurring Basis, Beginning Balance     722 661 379 [1]   445 [1]  
Total realized/unrealized gains (losses) included in net income (218) [1],[2],[3] (298) [1],[3],[4],[5] (605) (541) [2],[3]        
Total realized/unrealized gains (losses) included in OCI 0 [1],[6] 0 [1],[6]   0 [6]        
Purchases 8 [1] 59 [1] 6 38        
Settlements (41) [1] (76) [1] (49) (93)        
Fair Value Measurement with Unobservable Inputs Reconciliation Recurring Basis Asset Netted Against Liability Transfers into Level Three      (20)          
Sales 0 [1] 0 [1] 0 0        
Transfers out of Level 3 16 [1],[7] 31 [1],[7] 74 62 [7]        
Fair Value of Financial Instruments (Assets Netted Against Liabilities), Measured at Fair Value on a Recurring Basis, Ending Balance 226 [1] 313 [1] 226 [1] 313 [1] 379 [1]   445 [1]  
Changes in unrealized gains (losses) included in net income related to financial instruments still held at March 31, 2011 (201) [1],[3],[5] (292) [1],[3],[5] (528) (531) [3],[5]        
Freestanding Derivatives [Member] | Hedging Derivatives [Member] | International [Member]
               
Roll Forward of Financial Instruments (Assets Netted Against Liabilities) Measured at Fair Value on Recurring Basis Using Significant Unobservable Inputs (Level 3)                
Fair Value of Financial Instruments (Assets Netted Against Liabilities), Measured at Fair Value on a Recurring Basis, Beginning Balance     (75) (35) (116) [1]   (55) [1]  
Total realized/unrealized gains (losses) included in net income (65) [1],[2],[3] (79) [1],[3],[4],[5] (149) (64) [2],[3]        
Total realized/unrealized gains (losses) included in OCI 0 [1],[6] 0 [1],[6]   0 [6]        
Purchases (4) [1] 15 [1] (29) (64)        
Settlements (42) [1] (17) [1] (54) (53)        
Fair Value Measurement with Unobservable Inputs Reconciliation Recurring Basis Asset Netted Against Liability Transfers into Level Three      0          
Sales 0 [1] 0 [1] 0 0        
Transfers out of Level 3 (28) [1],[7] 0 [1],[7] 28 8 [7]        
Fair Value of Financial Instruments (Assets Netted Against Liabilities), Measured at Fair Value on a Recurring Basis, Ending Balance (171) [1] (102) [1] (171) [1] (102) [1] (116) [1]   (55) [1]  
Changes in unrealized gains (losses) included in net income related to financial instruments still held at March 31, 2011 (47) [1],[3],[5] (51) [1],[3],[5] (75) (37) [3],[5]        
Freestanding Derivatives [Member] | Hedging Derivatives [Member] | Guaranteed Minimum Withdrawal Benefit [Member] | U.S. [Member]
               
Roll Forward of Financial Instruments (Assets Netted Against Liabilities) Measured at Fair Value on Recurring Basis Using Significant Unobservable Inputs (Level 3)                
Fair Value of Financial Instruments (Assets Netted Against Liabilities), Measured at Fair Value on a Recurring Basis, Beginning Balance     519 883 329 [1]   756 [1]  
Total realized/unrealized gains (losses) included in net income (109) [1],[2],[3] (159) [1],[3],[4],[5] (299) (332) [2],[3]        
Total realized/unrealized gains (losses) included in OCI 0 [1],[6] 0 [1],[6]   0 [6]        
Purchases 0 [1] 19 [1] 0 42        
Settlements 1 [1] 0 [1] 1 0        
Fair Value Measurement with Unobservable Inputs Reconciliation Recurring Basis Asset Netted Against Liability Transfers into Level Three      0          
Sales 0 [1] 0 [1] 0 0        
Transfers out of Level 3 0 [1],[7] 0 [1],[7] 0 23 [7]        
Fair Value of Financial Instruments (Assets Netted Against Liabilities), Measured at Fair Value on a Recurring Basis, Ending Balance 219 [1] 616 [1] 219 [1] 616 [1] 329 [1]   756 [1]  
Changes in unrealized gains (losses) included in net income related to financial instruments still held at March 31, 2011 (111) [1],[3],[5] (159) [1],[3],[5] (296) (332) [3],[5]        
Freestanding Derivatives [Member] | U.S. Macro Hedge Program [Member]
               
Roll Forward of Financial Instruments (Assets Netted Against Liabilities) Measured at Fair Value on Recurring Basis Using Significant Unobservable Inputs (Level 3)                
Fair Value of Financial Instruments (Assets Netted Against Liabilities), Measured at Fair Value on a Recurring Basis, Beginning Balance       357   286 180 [1]  
Total realized/unrealized gains (losses) included in net income   (98) [1],[3],[4],[5]   (275) [2],[3]        
Total realized/unrealized gains (losses) included in OCI   0 [1],[6]   0 [6]        
Purchases   0 [1]   0        
Settlements   0 [1]   0        
Sales   0 [1]   0        
Transfers out of Level 3   0 [1],[7]   0 [7]        
Fair Value of Financial Instruments (Assets Netted Against Liabilities), Measured at Fair Value on a Recurring Basis, Ending Balance 181 82 [1] 181 82 [1]   286 180 [1]  
Changes in unrealized gains (losses) included in net income related to financial instruments still held at March 31, 2011   (98) [1],[3],[5]   (274) [3],[5]        
Freestanding Derivatives [Member] | U.S. Macro Hedge Program [Member] | U.S. [Member]
               
Roll Forward of Financial Instruments (Assets Netted Against Liabilities) Measured at Fair Value on Recurring Basis Using Significant Unobservable Inputs (Level 3)                
Fair Value of Financial Instruments (Assets Netted Against Liabilities), Measured at Fair Value on a Recurring Basis, Beginning Balance         209 [1]      
Total realized/unrealized gains (losses) included in net income (39) [1],[2],[3]   (139)          
Total realized/unrealized gains (losses) included in OCI 0 [1],[6]              
Purchases 11 [1]   34          
Settlements 0 [1]   0          
Fair Value Measurement with Unobservable Inputs Reconciliation Recurring Basis Asset Netted Against Liability Transfers into Level Three      0          
Sales 0 [1]   0          
Transfers out of Level 3 0 [1],[7]   0          
Fair Value of Financial Instruments (Assets Netted Against Liabilities), Measured at Fair Value on a Recurring Basis, Ending Balance 181 [1]   181 [1]   209 [1]      
Changes in unrealized gains (losses) included in net income related to financial instruments still held at March 31, 2011 (39) [1],[3],[5]   (136)          
Freestanding Derivatives [Member] | Credit derivative [Member]
               
Roll Forward of Financial Instruments (Assets Netted Against Liabilities) Measured at Fair Value on Recurring Basis Using Significant Unobservable Inputs (Level 3)                
Fair Value of Financial Instruments (Assets Netted Against Liabilities), Measured at Fair Value on a Recurring Basis, Beginning Balance     4 (489) 3 [1]   (388) [1]  
Total realized/unrealized gains (losses) included in net income 0 [1],[2],[3] 49 [1],[3],[4],[5] 0 153 [2],[3]        
Total realized/unrealized gains (losses) included in OCI 0 [1],[6] 0 [1],[6]   0 [6]        
Purchases 0 [1] 0 [1] 0 0        
Settlements 0 [1] (59) [1] 1 (56)        
Fair Value Measurement with Unobservable Inputs Reconciliation Recurring Basis Asset Netted Against Liability Transfers into Level Three      0          
Sales 0 [1] 0 [1] 0 0        
Transfers out of Level 3 0 [1],[7] 0 [1],[7] 0 0 [7]        
Fair Value of Financial Instruments (Assets Netted Against Liabilities), Measured at Fair Value on a Recurring Basis, Ending Balance 3 [1] (280) [1] 3 [1] (280) [1] 3 [1]   (388) [1]  
Changes in unrealized gains (losses) included in net income related to financial instruments still held at March 31, 2011 0 [1],[3],[5] 25 [1],[3],[5] 0 122 [3],[5]        
Freestanding Derivatives [Member] | Equity derivative [Member]
               
Roll Forward of Financial Instruments (Assets Netted Against Liabilities) Measured at Fair Value on Recurring Basis Using Significant Unobservable Inputs (Level 3)                
Fair Value of Financial Instruments (Assets Netted Against Liabilities), Measured at Fair Value on a Recurring Basis, Beginning Balance     45 36 25 [1]   43 [1]  
Total realized/unrealized gains (losses) included in net income (6) [1],[2],[3] (12) [1],[3],[4],[5] (23) (24) [2],[3]        
Total realized/unrealized gains (losses) included in OCI 0 [1],[6] 0 [1],[6]   0 [6]        
Purchases 1 [1] 24 [1] 1 59        
Settlements 0 [1] 0 [1] 3 16        
Fair Value Measurement with Unobservable Inputs Reconciliation Recurring Basis Asset Netted Against Liability Transfers into Level Three      0          
Sales 0 [1] 0 [1] 0 0        
Transfers out of Level 3 0 [1],[7] 0 [1],[7] 0 0 [7]        
Fair Value of Financial Instruments (Assets Netted Against Liabilities), Measured at Fair Value on a Recurring Basis, Ending Balance 20 [1] 55 [1] 20 [1] 55 [1] 25 [1]   43 [1]  
Changes in unrealized gains (losses) included in net income related to financial instruments still held at March 31, 2011 (5) [1],[3],[5] (10) [1],[3],[5] (21) (11) [3],[5]        
Freestanding Derivatives [Member] | Interest rate derivatives [Member]
               
Roll Forward of Financial Instruments (Assets Netted Against Liabilities) Measured at Fair Value on Recurring Basis Using Significant Unobservable Inputs (Level 3)                
Fair Value of Financial Instruments (Assets Netted Against Liabilities), Measured at Fair Value on a Recurring Basis, Beginning Balance     (57) (91) (51) [1]   (91) [1]  
Total realized/unrealized gains (losses) included in net income 1 [1],[2],[3] 1 [1],[3],[4],[5] 5 1 [2],[3]        
Total realized/unrealized gains (losses) included in OCI 0 [1],[6] 0 [1],[6]   0 [6]        
Purchases 0 [1] 1 [1] 0 1        
Settlements 0 [1] 0 [1] 0 0        
Fair Value Measurement with Unobservable Inputs Reconciliation Recurring Basis Asset Netted Against Liability Transfers into Level Three      0          
Sales 0 [1] 0 [1] 0 0        
Transfers out of Level 3 24 [1],[7] 31 [1],[7] 26 31 [7]        
Fair Value of Financial Instruments (Assets Netted Against Liabilities), Measured at Fair Value on a Recurring Basis, Ending Balance (26) [1] (58) [1] (26) [1] (58) [1] (51) [1]   (91) [1]  
Changes in unrealized gains (losses) included in net income related to financial instruments still held at March 31, 2011 1 [1],[3],[5] 1 [1],[3],[5] 0 1 [3],[5]        
Freestanding Derivatives [Member] | Other Contract [Member]
               
Roll Forward of Financial Instruments (Assets Netted Against Liabilities) Measured at Fair Value on Recurring Basis Using Significant Unobservable Inputs (Level 3)                
Fair Value of Financial Instruments (Assets Netted Against Liabilities), Measured at Fair Value on a Recurring Basis, Beginning Balance     0   (20)      
Total realized/unrealized gains (losses) included in net income      0          
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss)     0          
Total realized/unrealized gains (losses) included in OCI                 
Purchases      0          
Settlements      0          
Fair Value Measurement with Unobservable Inputs Reconciliation Recurring Basis Asset Netted Against Liability Transfers into Level Three      20          
Sales                  
Transfers out of Level 3 20   (20)          
Fair Value of Financial Instruments (Assets Netted Against Liabilities), Measured at Fair Value on a Recurring Basis, Ending Balance 0   0   (20)      
Changes in unrealized gains (losses) included in net income related to financial instruments still held at March 31, 2011      0          
Policyholder Behavior Assumptions [Member]
               
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]                
Derivative, Gain (Loss) on Derivative, Net 40 84            
Actively Managed Funds [Member]
               
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]                
Derivative, Gain (Loss) on Derivative, Net 9 7 11 9        
Credit standing adjustment assumption net of reinsurance [Member]
               
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]                
Derivative, Gain (Loss) on Derivative, Net $ 215 $ 192 $ 430 $ 398        
[1] Derivative instruments are reported in this table on a net basis for asset/(liability) positions and reported in the Condensed Consolidated Balance Sheet in other investments and other liabilities.
[2] The Company classifies gains and losses on GMWB reinsurance derivatives and Guaranteed Living Benefit embedded derivatives as unrealized gains (losses) for purposes of disclosure in this table because it is impracticable to track on a contract-by-contract basis the realized gains (losses) for these derivatives and embedded derivatives.
[3] All amounts in these rows are reported in net realized capital gains (losses). The realized/unrealized gains (losses) included in net income for separate account assets are offset by an equal amount for separate account liabilities, which results in a net zero impact on net income for the Company. All amounts are before income taxes and amortization of DAC.
[4] Includes fair value of reinsurance recoverables of approximately $148 and $1.7 billion as of September 30, 2013 and 2012, respectively, related to a transaction entered into with an affiliated captive reinsurer. See Note 11 - Transactions with Affiliates of Notes to Condensed Consolidated Financial Statements for more information.
[5] Includes both market and non-market impacts in deriving realized and unrealized gains (losses).
[6] All amounts are before income taxes and amortization of DAC.
[7] Transfers in and/or (out) of Level 3 are primarily attributable to the availability of market observable information and the re-evaluation of the observability of pricing inputs.