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Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2012

Notes to Financial Statements [Abstract]

Carrying and Estimated Fair Values of Financial Instruments

										As of March 31, 2012						As of December 31, 2011
										Carrying			Fair			Carrying			Fair
										Value			Value			Value			Value
Assets
AFS securities:
	Fixed maturity securities									$	76,254		$	76,254		$	75,433		$	75,433
	VIEs' fixed maturity securities										702			702			700			700
	Equity securities										126			126			139			139
Trading securities											2,650			2,650			2,675			2,675
Mortgage loans on real estate											6,938			7,542			6,942			7,608
Derivative investments											2,244			2,244			3,151			3,151
Other investments											1,043			1,043			1,069			1,069
Cash and invested cash											3,516			3,516			4,510			4,510
Separate account assets											91,088			91,088			83,477			83,477

Liabilities
Future contract benefits:
	Indexed annuity contracts embedded derivatives										(480)			(480)			(399)			(399)
	GLB reserves embedded derivatives										(1,064)			(1,064)			(2,217)			(2,217)
Other contract holder funds:
	Remaining guaranteed interest and similar contracts										(1,100)			(1,100)			(1,114)			(1,114)
	Account values of certain investment contracts										(27,707)			(30,526)			(27,468)			(30,812)
Short-term debt⁽¹⁾											(300)			(306)			(300)			(309)
Long-term debt											(5,606)			(5,543)			(5,391)			(5,345)
Reinsurance related embedded derivatives											(158)			(158)			(168)			(168)
VIEs' liabilities - derivative instruments											(221)			(221)			(291)			(291)
Other liabilities:
	Deferred compensation plans										(375)			(375)			(354)			(354)
	Credit default swaps										(10)			(10)			(16)			(16)

Fair Value of Assets and Liabilities on a Recurring Basis

												As of March 31, 2012
												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										$	64			$	58,603			$	1,932			$	60,599
		U.S. Government bonds											452				33				1				486
		Foreign government bonds											-				551				99				650
		RMBS											-				7,474				98				7,572
		CMBS											-				1,491				32				1,523
		CDOs											-				-				102				102
		State and municipal bonds											-				4,126				-				4,126
		Hybrid and redeemable preferred securities											20				1,060				116				1,196
	VIEs' fixed maturity securities												106				596				-				702
	Equity AFS securities												36				29				61				126
	Trading securities												2				2,580				68				2,650
	Derivative investments												-				207				2,037				2,244
Cash and invested cash													-				3,516				-				3,516
Separate account assets													-				91,088				-				91,088
				Total assets								$	680			$	171,354			$	4,546			$	176,580

Liabilities
Future contract benefits:
	Indexed annuity contracts embedded derivatives											$	-			$	-			$	(480)			$	(480)
	GLB reserves embedded derivatives												-				-				(1,064)				(1,064)
Long-term debt													-				(1,088)				-				(1,088)
Reinsurance related embedded derivatives													-				(158)				-				(158)
VIEs' liabilities - derivative instruments													-				-				(221)				(221)
Other liabilities:
	Deferred compensation plans												-				-				(375)				(375)
	Credit default swaps												-				-				(10)				(10)
				Total liabilities								$	-			$	(1,246)			$	(2,150)			$	(3,396)

												As of December 31, 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										$	63			$	57,310			$	1,888			$	59,261
		U.S. Government bonds											475				18				1				494
		Foreign government bonds											-				636				97				733
		RMBS											-				7,881				158				8,039
		CMBS											-				1,566				34				1,600
		CDOs											-				-				102				102
		State and municipal bonds											-				4,047				-				4,047
		Hybrid and redeemable preferred securities											15				1,042				100				1,157
	VIEs' fixed maturity securities												108				592				-				700
	Equity AFS securities												37				46				56				139
	Trading securities												2				2,605				68				2,675
	Derivative investments												-				681				2,470				3,151
Cash and invested cash													-				4,510				-				4,510
Separate account assets													-				83,477				-				83,477
				Total assets								$	700			$	164,411			$	4,974			$	170,085

Liabilities
Future contract benefits:
	Indexed annuity contracts embedded derivatives											$	-			$	-			$	(399)			$	(399)
	GLB reserves embedded derivatives												-				-				(2,217)				(2,217)
Long-term debt													-				(1,688)				-				(1,688)
Reinsurance related embedded derivatives													-				(168)				-				(168)
VIEs' liabilities - derivative instruments													-				-				(291)				(291)
Other liabilities:
	Deferred compensation plans												-				-				(354)				(354)
	Credit default swaps												-				-				(16)				(16)
				Total liabilities								$	-			$	(1,856)			$	(3,277)			$	(5,133)

Level 3 Unobservable Input Reconciliation

												For the Three Months Ended March 31, 2012
																		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										$	1,888		$	(14)		$	-			$	174			$	(116)		$	1,932
		U.S. Government bonds											1			-			-				-				-			1
		Foreign government bonds											97			-			2				-				-			99
		RMBS											158			(3)			3				(5)				(55)			98
		CMBS											34			(3)			8				(7)				-			32
		CDOs											102			-			4				(4)				-			102
		Hybrid and redeemable
			preferred securities										100			-			5				-				11			116
	Equity AFS securities												56			-			5				-				-			61
	Trading securities												68			1			-				(1)				-			68
	Derivative investments												2,470			(520)			(88)				175				-			2,037
Future contract benefits:⁽⁴⁾
	Indexed annuity contracts embedded
		derivatives											(399)			(104)			-				23				-			(480)
	GLB reserves embedded derivatives												(2,217)			1,153			-				-				-			(1,064)
VIEs' liabilities - derivative
	instruments⁽⁵⁾												(291)			70			-				-				-			(221)
Other liabilities:
	Deferred compensation plans⁽⁶⁾												(354)			(28)			-				7				-			(375)
	Credit default swaps⁽⁷⁾												(16)			6			-				-				-			(10)
				Total, net								$	1,697		$	558		$	(61)			$	362			$	(160)		$	2,396

												For the Three Months Ended March 31, 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		$	(1)		$	10			$	54			$	(73)		$	1,806
		U.S. Government bonds											2			-			-				-				-			2
		Foreign government bonds											113			-			7				(3)				(17)			100
		RMBS											119			(2)			2				(4)				-			115
		CMBS											109			(23)			30				(52)				-			64
		CDOs											172			14			(12)				(38)				-			136
		Hybrid and redeemable
			preferred securities										119			-			1				-				4			124
	Equity AFS securities:												92			8			3				(9)				2			96
	Trading securities												76			1			(2)				(2)				(2)			71
	Derivative investments												1,495			(145)			(18)				107				-			1,439
Future contract benefits:⁽⁴⁾
	Indexed annuity contracts embedded
		derivatives											(497)			48			-				(79)				-			(528)
	GLB reserves embedded derivatives												(408)			290			-				-				-			(118)
VIEs' liabilities - derivative
	instruments⁽⁵⁾												(209)			6			-				-				-			(203)
Other liabilities:
	Deferred compensation plans⁽⁶⁾												(363)			(8)			-				14				-			(357)
	Credit default swaps⁽⁷⁾												(16)			4			-				6				-			(6)
				Total, net								$	2,620		$	192		$	21			$	(6)			$	(86)		$	2,741

												For the Three Months Ended March 31, 2012
												Issuances			Sales			Maturities			Settlements					Calls			Total
Investments:
	Fixed maturity AFS securities:
		Corporate bonds										$	231		$	(26)		$	-			$	(29)			$	(2)		$	174
		RMBS											-			-			-				(5)				-			(5)
		CMBS											-			-			-				(7)				-			(7)
		CDOs											-			-			-				(4)				-			(4)
	Trading securities												-			-			-				(1)				-			(1)
	Derivative investments												209			15			(49)				-				-			175
Future contract benefits:
	Indexed annuity contracts embedded
		derivatives											(9)			-			-				32				-			23
Other liabilities:
	Deferred compensation plans												-			-			-				7				-			7
				Total, net								$	431		$	(11)		$	(49)			$	(7)			$	(2)		$	362

												For the Three Months Ended March 31, 2011
												Issuances			Sales			Maturities			Settlements					Calls			Total
Investments:
	Fixed maturity AFS securities:
		Corporate bonds										$	101		$	(8)		$	(1)			$	(37)			$	(1)		$	54
		Foreign government bonds											-			(3)			-				-				-			(3)
		RMBS											-			-			-				(4)				-			(4)
		CMBS											1			(44)			-				(9)				-			(52)
		CDOs											-			(33)			-				(5)				-			(38)
	Equity AFS securities												6			(15)			-				-				-			(9)
	Trading securities												-			-			-				(2)				-			(2)
	Derivative investments												167			(2)			(58)				-				-			107
Future contract benefits:
	Indexed annuity contracts embedded
		derivatives											(17)			-			-				(62)				-			(79)
Other liabilities:
	Deferred compensation plans												-			-			-				14				-			14
	Credit default swaps												-			6			-				-				-			6
				Total, net								$	258		$	(99)		$	(59)			$	(105)			$	(1)		$	(6)

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

										For the Three
										Months Ended
										March 31,
										2012			2011
Investments:⁽¹⁾
	Derivative investments									$	(520)		$	(140)
Future contract benefits:⁽¹⁾
	Indexed annuity contracts embedded derivatives										21			(4)
	GLB reserves embedded derivatives										1,183			338
VIEs' liabilities - derivative instruments⁽¹⁾											70			2
Other liabilities:
	Deferred compensation plans⁽²⁾										(28)			(8)
	Credit default swaps⁽³⁾										6			6
		Total, net								$	732		$	194

Fair Value Assets And Liabilities Transfers In And Out Of Level 3 [Text Block]

												For the Three Months									For the Three Months
												Ended March 31, 2012									Ended March 31, 2011
												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										$	150			(266)		$	(116)		$	32		$	(105)		$	(73)
		Foreign government bonds											-			-			-			-			(17)			(17)
		RMBS											-			(55)			(55)			-			-			-
		Hybrid and redeemable preferred securities											20			(9)			11			4			-			4
	Equity AFS securities												-			-			-			2			-			2
	Trading securities												-			-			-			-			(2)			(2)
				Total, net								$	170		$	(330)		$	(160)		$	38		$	(124)		$	(86)

Fair Value Inputs Assets Quantitative Information Table [Text Block]

Fair

Valuation

Significant

Value

Technique

Unobservable Inputs

Range

Assets

Investments:

Fixed maturity AFS and trading

securities

Corporate bonds

$

1,119

Discounted cash flow

Liquidity/duration adjustment⁽¹⁾

0.5% - 9.0%

Foreign government bonds

52

Discounted cash flow

Liquidity/duration adjustment⁽¹⁾

2.5% - 6.0%

Equity AFS and trading

securities

12

Discounted cash flow

Liquidity/duration adjustment⁽¹⁾

4.0% - 4.5%

Fair Value Inputs Liabilities Quantitative Information Table [Text Block]

Fair

Valuation

Significant

Value

Technique

Unobservable Inputs

Range

Liabilities

Future contract benefits:

Indexed annuity contracts

embedded derivatives

(480)

Discounted cash flow

Lapse rate⁽²⁾

1.0% - 15.0%

Mortality rate⁽³⁾

⁽⁷⁾

GLB reserves embedded

derivatives

(1,064)

Monte Carlo simulation

Long-term lapse rate⁽²⁾

0.5% - 13.0%

Wait period⁽⁴⁾

0 - 25 years (or

years until the

eligible age)

Percent of maximum

withdrawal amount⁽⁵⁾

95.0% - 100.0%

Non-performance risk ("NPR")⁽⁶⁾

0.05% - 0.35%

Mortality rate⁽³⁾

⁽⁷⁾

- 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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