XML 1073 R53.htm IDEA: XBRL DOCUMENT v2.4.0.6
Pension and Other Postretirement Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2012
Notes to Financial Statements [Abstract]  
Obligations, funded status and assumptions
          As of or for the Years Ended December 31,
          2012 2011 2012 2011 2012 2011
          U.S. Non-U.S. Other
          Pension Benefits Pension Benefits Postretirement Benefits
Change in Plan Assets                       
Fair value as of beginning-of-year$ 956 $ 918 $ 350 $ 314 $ 39 $ 37
Actual return on plan assets  123   72   28   49   3   3
Company and participant contributions  32   36   7   1   15   15
Benefits paid  (68)   (70)   (14)   (12)   (17)   (17)
Medicare Part D subsidy  -   -   -   -   2   1
Foreign exchange translation  -   -   -   (2)   -   -
 Fair value as of end-of-year  1,043   956   371   350   42   39
                        
Change in Benefit Obligation                       
Balance as of beginning-of-year  1,238   1,093   311   271   161   155
Service cost (1)  5   3   -   -   4   4
Interest cost  53   58   15   15   7   7
Company and participant contributions  -   -   -   -   6   6
Curtailments  -   -   -   -   -   -
Actuarial (gains) losses  56   154   52   38   (24)   5
Benefits paid  (68)   (70)   (14)   (12)   (17)   (17)
Medicare Part D subsidy  -   -   -   -   2   1
Foreign exchange translation  -   -   -   (1)   -   -
 Balance as of end-of-year  1,284   1,238   364   311   139   161
  Funded status of the plans $ (241) $ (282) $ 7 $ 39 $ (97) $ (122)
                                 
Amounts Recognized on the                        
 Consolidated Balance Sheets                       
Other assets $ 21 $ 18 $ 7 $ 39 $ - $ -
Other liabilities   (262)   (300)   -   -   (97)   (122)
 Net amount recognized $ (241) $ (282) $ 7 $ 39 $ (97) $ (122)
                                 
Amounts Recognized in                        
 Accumulated OCI, Net of Tax                       
Net (gain) loss$ 229 $ 243 $ 60 $ 33 $ (11) $ 5
Prior service credit  -   -   -   -   (3)   (3)
 Net amount recognized $ 229 $ 243 $ 60 $ 33 $ (14) $ 2
                                 
Rate of Increase in Compensation                       
Retiree Life Insurance Plan N/A  N/A  N/A  N/A  4.00%  4.00%
All other plans N/A  N/A  N/A  N/A  N/A  N/A
                                 
Weighted-Average Assumptions                       
Benefit obligations:                       
 Weighted-average discount rate 4.16%  4.45%  4.40%  5.00%  4.03%  4.25%
 Expected return on plan assets 7.79%  7.78%  5.30%  5.40%  6.50%  6.50%
Net periodic benefit cost:                       
 Weighted-average discount rate 4.45%  5.45%  5.00%  5.70%  4.25%  5.00%
 Expected return on plan assets 7.79%  7.78%  5.30%  5.40%  6.50%  6.50%
Health care cost trend rate
        As of or For the 
         Years Ended December 31, 
         2012 2011 2010  
Pre-65 health care cost trend rate  8.00%  8.50%  9.50%  
Post-65 health care cost trend rate  8.00%  8.50%  9.50%  
Ultimate trend rate  4.50%  4.50%  5.00%  
Year that the rate reaches the ultimate trend rate  2020  2021  2020  
Pension plans with an accumulated benefit obligation in excess of plan assets
        As of December 31, 
        2012 2011 
U.S. Plan      
Accumulated benefit obligation$ 1,160 $ 1,118 
Projected benefit obligation  1,160   1,118 
Fair value of plan assets  898   818 
Components of net periodic benefit cost
          For the Years Ended December 31,
          2012 2011 2010 2012 2011 2010
          Pension Benefits Other Postretirement Benefits
U.S. Plans                 
Service cost (1)$ 5 $ 3 $ 3 $ 4 $ 4 $ 3
Interest cost  53   58   61   7   7   9
Expected return on plan assets  (72)   (71)   (65)   (3)   (2)   (2)
Amortization of prior service cost  -   -   -   (1)   (1)   (1)
Recognized net actuarial loss (gain)  26   13   15   1   1   1
 Net periodic benefit expense (recovery)$ 12 $ 3 $ 14 $ 8 $ 9 $ 10
                           
Non-U.S. Plans                 
Interest cost$ 15 $ 15 $ 16         
Expected return on plan assets  (17)   (16)   (16)         
Recognized net actuarial loss (gain)  1   -   1         
 Net periodic benefit expense (recovery)$ (1) $ (1) $ 1         
Pension plan asset target allocations by asset category
        For the Years Ended December 31,
        2012 2011 2012 2011 2012 2011
        U.S. Plan - Employees U.S. Plan - Agents Non-U.S. Plan
Asset Class                 
Fixed maturity securities50% 50% 80% 80% 39% 56%
Common stock:                 
 Domestic equity35% 35% 14% 14% 0% 0%
 International equity15% 15% 6% 6% 0% 0%
Equity securities0% 0% 0% 0% 59% 43%
Cash and invested cash0% 0% 0% 0% 2% 1%
Fair value measurements of pension plan assets on a recurring basis
          As of December 31,
          2012  2011  2012  2011 2012 2011
          U.S.  Non-U.S. Other
          Pension Plans   Pension Plans Postretirement Benefits
Fixed maturity securities:                     
 Corporate bonds $ 343  $ 370  $ 35  $ 34 $ - $ -
 U.S. government bonds   186    114    4    13   -   -
 Foreign government bonds   16    24    179    206   -   -
 RMBS   1    1    -    -   -   -
 CMBS   3    4    -    -   -   -
 CDOs   1    1    4    1   -   -
Common stock   475    418    96    57   -   -
Cash and invested cash   18    24    53    39   42   39
   Total  $ 1,043  $ 956  $ 371  $ 350 $ 42 $ 39
Estimated future benefit payments
          Pension Plans         
          Qualified Nonqualified Qualified      
          U.S.  U.S.  Non-U.S. U.S.    
          Defined  Defined  Defined Other    
          Benefit  Benefit  Benefit Post-    
          Pension  Pension  Pension retirement    
          Plans  Plans  Plans Plans    
2013$ 74  $ 10  $ 14 $ 9      
2014  71    10    14   9      
2015  70    12    15   9      
2016  71    10    16   10      
2017  70    9    17   10      
Following five years thereafter  340    45    94   49