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Fair Value of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2011

Notes to Financial Statements [Abstract]

Carrying and Estimated Fair Values of Financial Instruments

		As of June 30, 2011				As of December 31, 2010
		Carrying		Fair		Carrying		Fair
		Value		Value		Value		Value
Assets
AFS securities:
	Fixed maturity securities	$	70,920	$	70,920	$	68,030	$	68,030
	VIEs' fixed maturity securities		593		593		584		584
	Equity securities		144		144		197		197
Trading securities			2,625		2,625		2,596		2,596
Mortgage loans on real estate			6,871		7,444		6,752		7,183
Derivative investments			1,097		1,097		1,076		1,076
Other investments			1,001		1,001		1,038		1,038
Cash and invested cash			2,912		2,912		2,741		2,741
Separate account assets			88,846		88,846		84,630		84,630

Liabilities
Future contract benefits:
	Indexed annuity contracts embedded derivatives		(506)		(506)		(497)		(497)
	GLB reserves embedded derivatives		(278)		(278)		(408)		(408)
Other contract holder funds:
	Remaining guaranteed interest and similar contracts		(1,156)		(1,156)		(1,119)		(1,119)
	Account values of certain investment contracts		(26,832)		(27,628)		(26,130)		(27,142)
Short-term debt⁽¹⁾			(251)		(257)		(351)		(364)
Long-term debt			(5,729)		(5,858)		(5,399)		(5,512)
Reinsurance related embedded derivatives			(119)		(119)		(102)		(102)
VIEs' liabilities - derivative instruments			(198)		(198)		(209)		(209)
Other liabilities:
	Deferred compensation plans embedded derivatives		(360)		(360)		(363)		(363)
	Credit default swaps		(7)		(7)		(16)		(16)

Fair Value of Assets and Liabilities on a Recurring Basis

						As of June 30, 2011
						Quoted
						Prices
						in Active
					Markets for				Significant			Significant
						Identical		Observable			Unobservable			Total
						Assets			Inputs			Inputs		Fair
						(Level 1)			(Level 2)			(Level 3)		Value
Assets
Investments:
	Fixed maturity AFS securities:
		Corporate bonds				$	61		$	53,196		$	1,573	$	54,830
		U.S. Government bonds					235			3			2		240
		Foreign government bonds					-			498			96		594
		MBS:
			CMOs				-			5,351			28		5,379
			MPTS				-			3,016			133		3,149
			CMBS				-			1,753			53		1,806
		ABS CDOs					-			-			126		126
		State and municipal bonds					-			3,479			-		3,479
		Hybrid and redeemable preferred securities					25			1,186			106		1,317
		VIEs' fixed maturity securities					-			593			-		593
	Equity AFS securities:
		Banking securities					-			2			-		2
		Insurance securities					3			-			30		33
		Other financial services securities					-			9			22		31
		Other securities					34			-			44		78
	Trading securities						2			2,552			71		2,625
	Derivative investments						-			(395)			1,492		1,097
Cash and invested cash							-			2,912			-		2,912
Separate account assets							-			88,846			-		88,846
				Total assets		$	360		$	163,001		$	3,776	$	167,137

Liabilities
Future contract benefits:
	Indexed annuity contracts embedded derivatives					$	-		$	-		$	(506)	$	(506)
	GLB reserves embedded derivatives						-			-			(278)		(278)
Long-term debt - interest rate swap agreements							-			(83)			-		(83)
Reinsurance related embedded derivatives							-			(119)			-		(119)
VIEs' liabilities - derivative instruments							-			-			(198)		(198)
Other liabilities:
	Deferred compensation plans embedded derivatives						-			-			(360)		(360)
	Credit default swaps						-			-			(7)		(7)
				Total liabilities		$	-		$	(202)		$	(1,349)	$	(1,551)

						As of December 31, 2010
						Quoted
						Prices
						in Active
					Markets for				Significant			Significant
						Identical		Observable			Unobservable			Total
						Assets			Inputs			Inputs		Fair
						(Level 1)			(Level 2)			(Level 3)		Value
Assets
Investments:
	Fixed maturity AFS securities:
		Corporate bonds				$	60		$	49,864		$	1,816	$	51,740
		U.S. Government bonds					160			3			2		165
		Foreign government bonds					-			395			113		508
		MBS:
			CMOs				-			5,734			23		5,757
			MPTS				-			2,985			96		3,081
			CMBS				-			1,944			109		2,053
		ABS CDOs					-			2			172		174
		State and municipal bonds					-			3,155			-		3,155
		Hybrid and redeemable preferred securities					18			1,260			119		1,397
		VIEs' fixed maturity securities					-			584			-		584
	Equity AFS securities:
		Banking securities					-			58			-		58
		Insurance securities					3			-			34		37
		Other financial services securities					-			8			24		32
		Other securities					34			2			34		70
	Trading securities						2			2,518			76		2,596
	Derivative investments						-			(419)			1,495		1,076
Cash and invested cash							-			2,741			-		2,741
Separate account assets							-			84,630			-		84,630
				Total assets		$	277		$	155,464		$	4,113	$	159,854

Liabilities
Future contract benefits:
	Indexed annuity contracts embedded derivatives					$	-		$	-		$	(497)	$	(497)
	GLB reserves embedded derivatives						-			-			(408)		(408)
Long-term debt - interest rate swap agreements							-			(55)			-		(55)
Reinsurance related embedded derivatives							-			(102)			-		(102)
VIEs' liabilities - derivative instruments							-			-			(209)		(209)
Other liabilities:
	Deferred compensation plans embedded derivatives						-			-			(363)		(363)
	Credit default swaps						-			-			(16)		(16)
				Total liabilities		$	-		$	(157)		$	(1,493)	$	(1,650)

Level 3 Unobservable Input Reconciliation

					For the Three Months Ended June 30, 2011
									Gains		Issuances,			Transfers
							Items		(Losses)			Sales,		In or
							Included		in		Maturities,			Out
					Beginning		in		OCI		Settlements,			of		Ending
					Fair		Net		and			Calls,		Level 3,		Fair
					Value		Income		Other⁽¹⁾			Net		Net⁽²⁾		Value
Investments:⁽³⁾
	Fixed maturity AFS securities:
		Corporate bonds			$	1,806	$	23	$	33		$	(200)	$	(89)	$	1,573
		U.S. Government bonds				2		-		-			-		-		2
		Foreign government bonds				100		-		(4)			-		-		96
		MBS:
			CMOs			22		(1)		1			6		-		28
			MPTS			93		-		2			38		-		133
			CMBS			64		(22)		24			(12)		(1)		53
		ABS:
		ABS CDOs				136		-		2			(12)		-		126
		Hybrid and redeemable
			preferred securities			124		-		4			-		(22)		106
	Equity AFS securities:
		Insurance securities				28		-		-			2		-		30
		Other financial services securities				22		-		-			-		-		22
		Other securities				46		-		(2)			-		-		44
	Trading securities					71		-		4			(1)		(3)		71
	Derivative investments					1,439		62		7			(16)		-		1,492
Future contract benefits:⁽⁴⁾
	Indexed annuity contracts embedded
		derivatives				(528)		6		-			16		-		(506)
	GLB reserves embedded derivatives					(118)		(160)		-			-		-		(278)
VIEs' liabilities - derivative
	instruments⁽⁵⁾					(203)		5		-			-		-		(198)
Other liabilities:
	Deferred compensation plans embedded
		derivatives⁽⁶⁾				(357)		(5)		-			2		-		(360)
	Credit default swaps⁽⁷⁾					(6)		(1)		-			-		-		(7)
				Total, net	$	2,741	$	(93)	$	71		$	(177)	$	(115)	$	2,427

					For the Three Months Ended June 30, 2010
									Gains		Issuances,			Transfers
							Items		(Losses)			Sales		In or
							Included		in		Maturities,			Out
					Beginning		in		OCI		Settlements,			of		Ending
					Fair		Net		and			Calls,		Level 3,		Fair
					Value		Income		Other⁽¹⁾			Net		Net⁽²⁾		Value
Investments:⁽³⁾
	Fixed maturity AFS securities:
		Corporate bonds			$	2,281	$	(5)	$	21		$	(11)	$	(377)	$	1,909
		U.S. Government bonds				2		-		-			-		2		4
		Foreign government bonds				90		-		2			-		-		92
		MBS:
			CMOs			31		(1)		1			(1)		(1)		29
			MPTS			174		-		3			(76)		-		101
			CMBS			250		(2)		10			(17)		(122)		119
		ABS:
		ABS CDOs				159		-		1			(5)		1		156
		State and municipal bonds				-		-		-			20		-		20
		Hybrid and redeemable
			preferred securities			135		8		(12)			(38)		-		93
	Equity AFS securities:
		Insurance securities				30		-		(4)			-		-		26
		Other financial services securities				27		-		(4)			-		-		23
		Other securities				34		-		-			-		-		34
	Trading securities					75		-		6			(2)		(2)		77
	Derivative investments					1,281		620		5			99		-		2,005
Future contract benefits:⁽⁴⁾
	Indexed annuity contracts embedded
		derivatives				(457)		56		-			18		-		(383)
	GLB reserves embedded derivatives					(495)		(1,174)		-			-		-		(1,669)
VIEs' liabilities - derivative
	instruments⁽⁵⁾					(229)		(68)		-			-		-		(297)
Other liabilities:
	Deferred compensation plans embedded
		derivatives⁽⁶⁾				(300)		9		-			(28)		-		(319)
	Credit default swaps⁽⁷⁾					(44)		(17)		-			31		-		(30)
				Total, net	$	3,044	$	(574)	$	29		$	(10)	$	(499)	$	1,990

					For the Six Months Ended June 30, 2011
									Gains			Issuances,		Transfers
							Items		(Losses)		Sales,			In or
							Included		in		Maturities,			Out
					Beginning		in		OCI		Settlements,			of		Ending
					Fair		Net		and			Calls,		Level 3,		Fair
					Value		Income		Other⁽¹⁾			Net		Net⁽²⁾		Value
Investments:⁽³⁾
	Fixed maturity AFS securities:
		Corporate bonds			$	1,816	$	23	$	44		$	(221)	$	(89)	$	1,573
		U.S. Government bonds				2		-		-			-		-		2
		Foreign government bonds				113		-		3			(3)		(17)		96
		MBS:
			CMOs			23		(3)		3			5		-		28
			MPTS			96		-		1			36		-		133
			CMBS			109		(45)		54			(64)		(1)		53
		ABS:
		ABS CDOs				172		14		(9)			(51)		-		126
		Hybrid and redeemable
			preferred securities			119		(1)		5			-		(17)		106
	Equity AFS securities:
		Insurance securities				34		1		-			(5)		-		30
		Other financial services securities				24		7		(1)			(8)		-		22
		Other securities				34		-		2			6		2		44
	Trading securities					76		-		2			(3)		(4)		71
	Derivative investments					1,495		(84)		(11)			92		-		1,492
Future contract benefits:⁽⁴⁾
	Indexed annuity contracts embedded
		derivatives				(497)		54		-			(63)		-		(506)
	GLB reserves embedded derivatives					(408)		130		-			-		-		(278)
VIEs' liabilities - derivative
	instruments⁽⁵⁾					(209)		11		-			-		-		(198)
Other liabilities:
	Deferred compensation plans embedded
		derivatives⁽⁶⁾				(363)		(13)		-			16		-		(360)
	Credit default swaps⁽⁷⁾					(16)		2		-			7		-		(7)
				Total, net	$	2,620	$	96	$	93		$	(256)	$	(126)	$	2,427

					For the Six Months Ended June 30, 2010
									Gains			Issuances,		Transfers
							Items		(Losses)		Sales,			In or
							Included		in		Maturities,			Out
					Beginning		in		OCI		Settlements,			of		Ending
					Fair		Net		and			Calls,		Level 3,		Fair
					Value		Income		Other⁽¹⁾			Net		Net⁽²⁾		Value
Investments:⁽³⁾
	Fixed maturity AFS securities:
		Corporate bonds			$	2,070	$	(9)	$	11		$	(119)	$	(44)	$	1,909
		U.S. Government bonds				3		-		-			(1)		2		4
		Foreign government bonds				92		-		2			(3)		1		92
		MBS:
			CMOs			35		(2)		1			(3)		(2)		29
			MPTS			101		-		4			(4)		-		101
			CMBS			259		(2)		20			(36)		(122)		119
		ABS:
			CDOs			153		-		11			(11)		3		156
			CLNs			322		-		278			-		(600)		-
		State and municipal bonds				-		-		-			20		-		20
		Hybrid and redeemable
			preferred securities			156		3		(37)			(29)		-		93
	Equity AFS securities:
		Insurance securities				43		-		(4)			(13)		-		26
		Other financial services securities				22		(3)		4			-		-		23
		Other securities				23		-		-			11		-		34
	Trading securities					91		1		(10)			(5)		-		77
	Derivative investments					1,368		489		7			141		-		2,005
Future contract benefits:⁽⁴⁾
	Indexed annuity contracts embedded
		derivatives				(419)		15		-			21		-		(383)
	GLB reserves embedded derivatives					(676)		(993)		-			-		-		(1,669)
	VIEs' liabilities - derivative
		instruments⁽⁵⁾				-		(72)		-			-		(225)		(297)
Other liabilities:
	Deferred compensation plans embedded
		derivatives⁽⁶⁾				(332)		1		-			12		-		(319)
	Credit default swaps⁽⁷⁾					(65)		(7)		-			42		-		(30)
				Total, net	$	3,246	$	(579)	$	287		$	23	$	(987)	$	1,990

					For the Three Months Ended June 30, 2011
					Issuances		Sales		Maturities		Settlements			Calls		Total
Investments:
	Fixed maturity AFS securities:
		Corporate bonds			$	22	$	(125)	$	-		$	(9)	$	(88)	$	(200)
		MBS:
			CMOs			7		-		-			(1)		-		6
			MPTS			40		-		-			(2)		-		38
			CMBS			-		(9)		-			(3)		-		(12)
		ABS CDOs				-		-		-			(12)		-		(12)
	Equity AFS securities:
		Insurance securities				2		-		-			-		-		2
	Trading securities					-		(1)		-			-		-		(1)
	Derivative investments					107		(25)		(98)			-		-		(16)
Future contract benefits:
	Indexed annuity contracts embedded
		derivatives				(20)		-		-			36		-		16
Other liabilities:
	Deferred compensation plans embedded
		derivatives				-		-		-			2		-		2
				Total, net	$	158	$	(160)	$	(98)		$	11	$	(88)	$	(177)

					For the Six Months Ended June 30, 2011
					Issuances		Sales		Maturities		Settlements			Calls		Total
Investments:
	Fixed maturity AFS securities:
		Corporate bonds			$	38	$	(133)	$	(1)		$	(36)	$	(89)	$	(221)
		Foreign government bonds				-		(3)		-			-		-		(3)
		MBS:
			CMOs			8		-		-			(3)		-		5
			MPTS			40		-		-			(4)		-		36
			CMBS			-		(53)		-			(11)		-		(64)
		ABS CDOs				-		(33)		-			(18)		-		(51)
	Equity AFS securities:
		Insurance securities				2		(7)		-			-		-		(5)
		Other financial services securities				-		(8)		-			-		-		(8)
		Other securities				6		-		-			-		-		6
	Trading securities					-		(1)		-			(2)		-		(3)
	Derivative investments					275		(27)		(156)			-		-		92
Future contract benefits:
	Indexed annuity contracts embedded
		derivatives				(38)		-		-			(25)		-		(63)
Other liabilities:
	Deferred compensation plans embedded
		derivatives				-		-		-			16		-		16
	Credit default swaps					-		7		-			-		-		7
				Total, net	$	331	$	(258)	$	(157)		$	(83)	$	(89)	$	(256)

					For the Three Months						For the Three Months
					Ended June 30, 2011						Ended June 30, 2010
					Transfers		Transfers				Transfers		Transfers
					In to		Out of				In to		Out of
					Level 3		Level 3		Total		Level 3		Level 3		Total
Investments:
	Fixed maturity AFS securities:
		Corporate bonds			$	21	$	(110)	$	(89)	$	39	$	(416)	$	(377)
		U.S. Government bonds				-		-		-		2		-		2
		MBS:
			CMOs			-		-		-		-		(1)		(1)
			CMBS			-		(1)		(1)		3		(125)		(122)
		ABS CDOs				-		-		-		1		-		1
		Hybrid and redeemable preferred
			securities			-		(22)		(22)		-		-		-
	Trading securities					-		(3)		(3)		-		(2)		(2)
				Total, net	$	21	$	(136)	$	(115)	$	45	$	(544)	$	(499)

					For the Six Months						For the Six Months
					Ended June 30, 2011						Ended June 30, 2010
					Transfers		Transfers				Transfers		Transfers
					In to		Out of				In to		Out of
					Level 3		Level 3		Total		Level 3		Level 3		Total
Investments:
	Fixed maturity AFS securities:
		Corporate bonds			$	34		(123)	$	(89)	$	143		(187)	$	(44)
		U.S. Government bonds				-		-		-		2		-		2
		Foreign government bonds				-		(17)		(17)		1		-		1
		MBS:
			CMOs			-		-		-		-		(2)		(2)
			CMBS			-		(1)		(1)		3		(125)		(122)
		ABS:
			CDOs			-		-		-		3		-		3
			CLNs			-		-		-		-		(600)		(600)
		Hybrid and redeemable preferred securities				4		(21)		(17)		-		-		-
	Equity AFS securities:
		Other securities				2		-		2		-		-		-
	Trading securities					-		(4)		(4)		-		-		-
	VIEs' liabilities - derivative instruments					-		-		-		(225)		-		(225)
				Total, net	$	40	$	(166)	$	(126)	$	(73)	$	(914)	$	(987)

Changes in unrealized gains (losses) within Level 3 financial instruments carried at fair value and still held

			For the Three				For the Six
			Months Ended				Months Ended
			June 30,				June 30,
			2011		2010		2011		2010
Investments:⁽¹⁾
	Derivative investments		$	62	$	599	$	(94)	$	487
Future contract benefits:⁽¹⁾
	Indexed annuity contracts embedded derivatives			-		(78)		(4)		(5)
	GLB reserves embedded derivatives			(108)		(1,130)		229		(910)
VIEs' liabilities - derivative instruments⁽¹⁾				5		(68)		11		(72)
Other liabilities:
	Deferred compensation plans embedded derivatives⁽²⁾			5		9		13		1
	Credit default swaps⁽³⁾			(1)		(26)		1		(27)
		Total, net	$	(37)	$	(694)	$	156	$	(526)

- Definition

This item represents certain of the disclosures concerning the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such certain disclosures about the financial instruments, assets, and liabilities include: (1) the fair value of the required items together with their carrying amounts (as appropriate) and (2) the methodology and assumptions used in developing such estimates of fair value.

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