A progression of deferred policy acquisition costs is presented below (in millions):



	P&C			Annuity and Other (*)
	Deferred			Deferred			Sales												Consolidated
	Costs			Costs			Inducements			PVFP			Unrealized			Total			Total
Balance at December 31, 2011	$	189		$	916		$	189		$	144		$	(537	)	$	712		$	901
Additions	438			212			15			—			—			227			665
Amortization:
Periodic amortization	(423		)	(148		)	(30		)	(17		)	—			(195		)	(618		)
Annuity unlocking	—			(33		)	(4		)	—			—			(37		)	(37		)
Loss recognition charge	—			(67		)	—			(12		)	—			(79		)	(79		)
Included in realized gains	—			(1		)	—			—			—			(1		)	(1		)
Sale of subsidiaries	—			(92		)	—			(16		)	—			(108		)	(108		)
Change in unrealized	—			—			—			—			(173		)	(173		)	(173		)
Balance at December 31, 2012	204			787			170			99			(710		)	346			550

Additions	468			222			11			—			—			233			701
Amortization:
Periodic amortization	(460		)	(140		)	(30		)	(14		)	—			(184		)	(644		)
Annuity unlocking	—			4			(2		)	—			—			2			2
Included in realized gains	—			2			—			—			—			2			2
Foreign currency translation	(1		)	—			—			—			—			—			(1		)
Change in unrealized	—			—			—			—			365			365			365
Balance at December 31, 2013	211			875			149			85			(345		)	764			975

Additions	497			198			8			—			—			206			703
Amortization:
Periodic amortization	(485		)	(130		)	(26		)	(11		)	—			(167		)	(652		)
Annuity unlocking	—			(20		)	—			—			—			(20		)	(20		)
Included in realized gains	—			2			1			—			—			3			3
Foreign currency translation	(2		)	—			—			—			—			—			(2		)
Change in unrealized	—			—			—			—			(186		)	(186		)	(186		)
Balance at December 31, 2014	$	221		$	925		$	132		$	74		$	(531	)	$	600		$	821


(*)	Includes AFG’s run-off long-term care and life segment and Medicare supplement and critical illness segment (sold in August 2012).