| Changes in Other Comprehensive Income (Loss) |
(9) Changes in Other
Comprehensive Income (Loss)
The following
tables show the changes in OCI, net of taxes, by component as of
and for the periods indicated:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Amounts in
millions)
|
|
Net
unrealized
investment
gains
(losses)
(1) |
|
|
Derivatives
qualifying as
hedges (2) |
|
|
Foreign
currency
translation
and other
adjustments |
|
|
Total |
|
|
Balances as of
April 1, 2013
|
|
$ |
2,443 |
|
|
$ |
1,799 |
|
|
$ |
582 |
|
|
$ |
4,824 |
|
|
OCI before
reclassifications
|
|
|
(1,173 |
) |
|
|
(213 |
) |
|
|
(353 |
) |
|
|
(1,739 |
) |
|
Amounts reclassified from
OCI
|
|
|
(17 |
) |
|
|
(5 |
) |
|
|
— |
|
|
|
(22 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current period
OCI
|
|
|
(1,190 |
) |
|
|
(218 |
) |
|
|
(353 |
) |
|
|
(1,761 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balances as of
June 30, 2013 before noncontrolling interests
|
|
|
1,253 |
|
|
|
1,581 |
|
|
|
229 |
|
|
|
3,063 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less: change in OCI
attributable to noncontrolling interests
|
|
|
(41 |
) |
|
|
— |
|
|
|
(38 |
) |
|
|
(79 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balances as of
June 30, 2013
|
|
$ |
1,294 |
|
|
$ |
1,581 |
|
|
$ |
267 |
|
|
$ |
3,142 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (1) |
Net of adjustments to deferred acquisition costs, present value
of future profits, sales inducements and benefit reserves. See note
4 for additional information.
|
| (2) |
See note 5 for additional information.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Amounts in
millions)
|
|
Net
unrealized
investment
gains
(losses) (1) |
|
|
Derivatives
qualifying as
hedges (2) |
|
|
Foreign
currency
translation
and other
adjustments |
|
|
Total |
|
|
Balances as of
April 1, 2012
|
|
$ |
1,327 |
|
|
$ |
1,680 |
|
|
$ |
649 |
|
|
$ |
3,656 |
|
|
OCI before
reclassifications
|
|
|
668 |
|
|
|
412 |
|
|
|
(119 |
) |
|
|
961 |
|
|
Amounts reclassified from
OCI
|
|
|
24 |
|
|
|
(5 |
) |
|
|
— |
|
|
|
19 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current period
OCI
|
|
|
692 |
|
|
|
407 |
|
|
|
(119 |
) |
|
|
980 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balances as of
June 30, 2012 before noncontrolling interests
|
|
|
2,019 |
|
|
|
2,087 |
|
|
|
530 |
|
|
|
4,636 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less: change in OCI
attributable to noncontrolling interests
|
|
|
3 |
|
|
|
— |
|
|
|
(20 |
) |
|
|
(17 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balances as of
June 30, 2012
|
|
$ |
2,016 |
|
|
$ |
2,087 |
|
|
$ |
550 |
|
|
$ |
4,653 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (1) |
Net of adjustments to deferred acquisition costs, present value
of future profits, sales inducements and benefit reserves. See note
4 for additional information.
|
| (2) |
See note 5 for additional information.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Amounts in
millions)
|
|
Net
unrealized
investment
gains
(losses) (1) |
|
|
Derivatives
qualifying as
hedges (2) |
|
|
Foreign
currency
translation
and other
adjustments |
|
|
Total |
|
|
Balances as of
January 1, 2013
|
|
$ |
2,638 |
|
|
$ |
1,909 |
|
|
$ |
655 |
|
|
$ |
5,202 |
|
|
OCI before
reclassifications
|
|
|
(1,389 |
) |
|
|
(315 |
) |
|
|
(457 |
) |
|
|
(2,161 |
) |
|
Amounts reclassified from
OCI
|
|
|
8 |
|
|
|
(13 |
) |
|
|
— |
|
|
|
(5 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current period
OCI
|
|
|
(1,381 |
) |
|
|
(328 |
) |
|
|
(457 |
) |
|
|
(2,166 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balances as of
June 30, 2013 before noncontrolling interests
|
|
|
1,257 |
|
|
|
1,581 |
|
|
|
198 |
|
|
|
3,036 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less: change in OCI
attributable to noncontrolling interests
|
|
|
(37 |
) |
|
|
— |
|
|
|
(69 |
) |
|
|
(106 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balances as of
June 30, 2013
|
|
$ |
1,294 |
|
|
$ |
1,581 |
|
|
$ |
267 |
|
|
$ |
3,142 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (1) |
Net of adjustments to deferred acquisition costs, present value
of future profits, sales inducements and benefit reserves. See note
4 for additional information.
|
| (2) |
See note 5 for additional information.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Amounts in
millions)
|
|
Net
unrealized
investment
gains
(losses) (1) |
|
|
Derivatives
qualifying
as
hedges (2) |
|
|
Foreign
currency
translation
and other
adjustments |
|
|
Total |
|
|
Balances as of
January 1, 2012
|
|
$ |
1,485 |
|
|
$ |
2,009 |
|
|
$ |
553 |
|
|
$ |
4,047 |
|
|
OCI before
reclassifications
|
|
|
504 |
|
|
|
90 |
|
|
|
(3 |
) |
|
|
591 |
|
|
Amounts reclassified from
OCI
|
|
|
24 |
|
|
|
(12 |
) |
|
|
— |
|
|
|
12 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current period
OCI
|
|
|
528 |
|
|
|
78 |
|
|
|
(3 |
) |
|
|
603 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balances as of
June 30, 2012 before noncontrolling interests
|
|
|
2,013 |
|
|
|
2,087 |
|
|
|
550 |
|
|
|
4,650 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less: change in OCI
attributable to noncontrolling interests
|
|
|
(3 |
) |
|
|
— |
|
|
|
— |
|
|
|
(3 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balances as of
June 30, 2012
|
|
$ |
2,016 |
|
|
$ |
2,087 |
|
|
$ |
550 |
|
|
$ |
4,653 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (1) |
Net of adjustments to deferred acquisition costs, present value
of future profits, sales inducements and benefit reserves. See note
4 for additional information.
|
| (2) |
See note 5 for additional information.
|
The foreign
currency translation and other adjustments balance included $26
million and $20 million, respectively, net of $13 million and $11
million of taxes, respectively, related to a net unrecognized
postretirement benefit obligation as of June 30, 2013 and
2012. Amount also included $42 million and $48 million of taxes,
respectively, related to foreign currency translation adjustments
as of June 30, 2013 and 2012.
The following
table shows reclassifications out of accumulated other
comprehensive income (loss), net of taxes, for the periods
presented:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Amounts in
millions)
|
|
Amount reclassified from
accumulated
other
comprehensive income |
|
|
Affected line item in
the
consolidated
statements
of
income |
| |
Three months ended June 30, |
|
|
Six months ended June 30, |
|
|
| |
2013 |
|
|
2012 |
|
|
2013 |
|
|
2012 |
|
|
|
Net unrealized investment
gains (losses):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unrealized gains (losses)
on investments (1)
|
|
$ |
(26 |
) |
|
$ |
37 |
|
|
$ |
12 |
|
|
$ |
37 |
|
|
Net investment gains (losses) |
|
Provision for income
taxes
|
|
|
9 |
|
|
|
(13 |
) |
|
|
(4 |
) |
|
|
(13 |
) |
|
Provision for income
taxes |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$ |
(17 |
) |
|
$ |
24 |
|
|
$ |
8 |
|
|
$ |
24 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Derivatives qualifying as
hedges:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest rate swaps hedging
assets
|
|
$ |
(10 |
) |
|
$ |
(10 |
) |
|
$ |
(19 |
) |
|
$ |
(19 |
) |
|
Net investment
income |
|
Interest rate swaps hedging
assets
|
|
|
(1 |
) |
|
|
— |
|
|
|
(1 |
) |
|
|
(1 |
) |
|
Net investment gains
(losses) |
|
Interest rate swaps hedging
liabilities
|
|
|
— |
|
|
|
(1 |
) |
|
|
(1 |
) |
|
|
(1 |
) |
|
Interest
expense |
|
Inflation indexed
swaps
|
|
|
5 |
|
|
|
9 |
|
|
|
2 |
|
|
|
9 |
|
|
Net investment
income |
|
Provision for income
taxes
|
|
|
1 |
|
|
|
(3 |
) |
|
|
6 |
|
|
|
— |
|
|
Provision for income
taxes |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$ |
(5 |
) |
|
$ |
(5 |
) |
|
$ |
(13 |
) |
|
$ |
(12 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (1) |
Amounts exclude adjustments to deferred acquisition costs,
present value of future profits, sales inducements and benefit
reserves.
|
|