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Consolidated Balance Sheets (USD $)
In Millions, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Investments:    
Fixed maturities, available-for-sale, at fair value (amortized cost of [$0] and $45,753) (includes variable interest entity assets, at fair value, of [$0] and $89) $ 28,163 $ 49,404
Fixed maturities, at fair value using the fair value option (includes variable interest entity assets, at fair value, of [$0] and $132) 791 1,010
Equity securities, trading, at fair value (cost of [$0] and $1,614) 12 1,847
Equity securities, available for sale, at fair value (cost of [$0] and $408) 372 400
Mortgage loans (net of allowances for loan losses of [$0] and $14) 3,470 4,935
Policy loans, at outstanding balance 1,416 1,951
Limited partnership and other alternative investments (includes variable interest entity assets of [$0] and $6) 1,329 1,372
Other investments 270 582
Short-term investments 1,952 2,354
Total investments 37,775 63,855
Cash 446 1,342
Premiums receivable and agents’ balances 33 58
Reinsurance recoverables 19,794 2,893
Deferred policy acquisition costs and present value of future profits 689 3,072
Deferred income taxes, net 2,110 1,557
Goodwill 0 250
Other assets 994 1,306
Separate account assets 140,874 141,558
Total assets 202,715 215,891
Liabilities    
Reserve for future policy benefits and unpaid losses and loss adjustment expenses 12,874 11,916
Other policyholder funds and benefits payable 36,856 40,501
Other policyholder funds and benefits payable – international unit-linked bonds and pension products 0 1,837
Consumer notes 84 161
Other liabilities (includes variable interest entity liabilities of [$0] and $111 ) 3,788 9,535
Separate account liabilities 140,874 [1],[2] 141,558
Total liabilities 194,476 205,508
Commitments and Contingencies (Note 10)      
Stockholder’s Equity    
Common stock — 1,000 shares authorized, issued and outstanding, par value [$5,690] 6 6
Additional paid-in capital 6,959 8,155
Accumulated other comprehensive income, net of tax 574 1,987
Retained earnings (deficit) 700 235
Total stockholder’s equity 8,239 10,383
Total liabilities and stockholder’s equity $ 202,715 $ 215,891
[1] MAV GMDB is the greatest of current AV, net premiums paid and the highest AV on any anniversary before age 80 (adjusted for withdrawals).
[2] AV includes the contract holder’s investment in the separate account and the general account.