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Financing Receivables (Tables)
 6 Months Ended
Jun. 30, 2014
Receivables [Abstract]  
Rollforward of the allowance for loan losses
The following table presents a rollforward of the allowance for loan losses for the six months ended and the ending balance of the allowance for loan losses by impairment method and type of loan:
 
 
June 30, 2014
 
June 30, 2013
 
 
Commercial
Mortgage
Loans
 
Syndicated
Loans
 
Total
 
Commercial
Mortgage
Loans
 
Syndicated
Loans
 
Total
 
 
(in millions)
Beginning balance
 
$
24

 
$
4

 
$
28

 
$
26

 
$
4

 
$
30

Charge-offs
 
(1
)
 
(1
)
 
(2
)
 
—

 
—

 
—

Ending balance
 
$
23

 
$
3

 
$
26

 
$
26

 
$
4

 
$
30

 
 
 
 
 
 
 
 
 
 
 
 
 
Individually evaluated for impairment
 
$
8

 
$
—

 
$
8

 
$
7

 
$
—

 
$
7

Collectively evaluated for impairment
 
15

 
3

 
18

 
19

 
4

 
23
Schedule of recorded investment in financing receivables by impairment method and type of loan
The recorded investment in financing receivables by impairment method and type of loan was as follows:
 
 
June 30, 2014
 
 
Commercial
Mortgage
Loans
 
Residential
Mortgage
Loans
 
Syndicated
Loans
 
Total
 
 
(in millions)
Individually evaluated for impairment
 
$
34

 
$
—

 
$
3

 
$
37

Collectively evaluated for impairment
 
2,560

 
736

 
394

 
3,690

Total
 
$
2,594

 
$
736

 
$
397

 
$
3,727

 
 
December 31, 2013
 
 
Commercial
Mortgage
Loans
 
Residential
Mortgage
Loans
 
Syndicated
Loans
 
Total
 
 
(in millions)
Individually evaluated for impairment
 
$
40

 
$
—

 
$
5

 
$
45

Collectively evaluated for impairment
 
2,524

 
786

 
356

 
3,666

Total
 
$
2,564

 
$
786

 
$
361

 
$
3,711
Schedule of concentrations of credit risk of commercial mortgage loans by U.S. region
Concentrations of credit risk of commercial mortgage loans by U.S. region were as follows:
 
 
Loans
 
Percentage
 
 
June 30, 2014
 
December 31, 2013
 
June 30, 2014
 
December 31, 2013
 
 
(in millions)
 
 
 
 
South Atlantic
 
$
706

 
$
679

 
27
%
 
26
%
Pacific
 
642

 
631

 
25

 
25

Mountain
 
253

 
248

 
10

 
10

East North Central
 
236

 
248

 
9

 
10

Middle Atlantic
 
213

 
202

 
8

 
8

West North Central
 
199

 
194

 
8

 
7

West South Central
 
148

 
153

 
6

 
6

New England
 
132

 
138

 
5

 
5

East South Central
 
65

 
71

 
2

 
3

 
 
2,594

 
2,564

 
100
%
 
100
%
Less: allowance for loan losses
 
23

 
24

 
 

 
 

Total
 
$
2,571

 
$
2,540

 
 

 
 
Schedule of concentrations of credit risk of commercial mortgage loans by property type
Concentrations of credit risk of commercial mortgage loans by property type were as follows:
 
 
Loans
 
Percentage
 
 
June 30, 2014
 
December 31, 2013
 
June 30, 2014
 
December 31, 2013
 
 
(in millions)
 
 
 
 
Retail
 
$
933

 
$
917

 
36
%
 
36
%
Office
 
552

 
548

 
21

 
21

Industrial
 
455

 
431

 
18

 
17

Apartments
 
432

 
454

 
17

 
18

Mixed use
 
45

 
36

 
2

 
1

Hotel
 
34

 
32

 
1

 
1

Other
 
143

 
146

 
5

 
6

 
 
2,594

 
2,564

 
100
%
 
100
%
Less: allowance for loan losses
 
23

 
24

 
 

 
 

Total
 
$
2,571

 
$
2,540

 
 

 
 
Schedule of troubled debt restructurings
The following table presents the number of loans restructured by the Company during the period and their recorded investment at the end of the period:
 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
 
2014
 
2013
 
2014
 
2013
 
 
Number
of Loans
 
Recorded
Investment
 
Number
of Loans
 
Recorded
Investment
 
Number
of Loans
 
Recorded
Investment
 
Number
of Loans
 
Recorded
Investment
 
 
(in millions, except number of loans)
Commercial mortgage loans
 
—

 
$
—

 
3

 
$
9

 
2

 
$
8

 
3

 
$
9

Residential mortgage loans
 
2

 
—

 
—

 
—

 
2

 
—

 
2

 
—

Syndicated loans
 
—

 
—

 
—

 
—

 
1

 
—

 
—

 
—

Total
 
2

 
$
—

 
3

 
$
9

 
5

 
$
8

 
5

 
$
9