Federal Income Taxes (Tables)

12 Months Ended

Dec. 31, 2013

Notes to Financial Statements [Abstract]

Income tax expense (benefit), continuing operations

	For the Years Ended December 31,
	2013		2012		2011
Current	$	169	$	23	$	13
Deferred		218		259		261
Federal income tax expense (benefit)	$	387	$	282	$	274

Reconciliation of effective tax rate differences

	For the Years Ended December 31,
	2013		2012		2011
Tax rate times pre-tax income	$	571	$	549	$	176
Effect of:
Tax-preferred investment income		(160)		(141)		(144)
Tax credits		(35)		(34)		(34)
Goodwill		-		(2)		260
Change in uncertain tax positions		7		(94)		8
Other items		4		4		8
Federal income tax expense (benefit)	$	387	$	282	$	274
Effective tax rate		24%		18%		55%

Federal income tax asset (liability)

	As of December 31,
	2013		2012
Current	$	(186)	$	(27)
Deferred		(1,966)		(2,982)
Total federal income tax asset (liability)	$	(2,152)	$	(3,009)

Significant components of deferred tax assets and liabilities

	As of December 31,
	2013		2012
Deferred Tax Assets
Future contract benefits and other contract holder funds	$	1,225	$	1,189
Deferred gain on business sold through reinsurance		87		96
Reinsurance related embedded derivative asset		36		75
Investments		85		311
Compensation and benefit plans		319		293
Net operating loss		27		26
Net capital loss		-		32
Tax credits		201		222
VIE		4		35
Other		79		41
Total deferred tax assets		2,063		2,320
Deferred Tax Liabilities
DAC		1,914		1,332
VOBA		409		246
Net unrealized gain on AFS securities		1,319		3,283
Net unrealized gain on trading securities		89		150
Intangibles		146		157
Other		152		134
Total deferred tax liabilities		4,029		5,302
Net deferred tax asset (liability)	$	(1,966)	$	(2,982)

Schedule of Unrecognized Tax Benefits Roll Forward

	For the Years Ended
	December 31,
	2013		2012
Balance as of beginning-of-year	$	77	$	211
Decreases for prior year tax positions		-		(49)
Increases for current year tax positions		5		5
Decreases for settlements with taxing authorities		-		(2)
Decreases for lapse of statute of limitations		-		(88)
Balance as of end-of-year	$	82	$	77