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Accumulated Other Comprehensive Income
 6 Months Ended
Jun. 30, 2015
Accumulated Other Comprehensive Income [Abstract]  
Comprehensive Income (Loss) Note
Accumulated Other Comprehensive Income
Accumulated other comprehensive income (AOCI) includes changes in unrealized gains and losses on investments, changes in pension obligations and changes in life deferred acquisition costs, life policy reserves and other as follows:
(Dollars in millions)
 
Three months ended June 30,
 
 
2015
 
 
2014
 
 
Before tax
 
Income tax
 
Net
 
 
Before tax
 
Income tax
 
Net
Investments:
 
 
 
 
 
 
 
 
 
 
 
 
 
AOCI, beginning of period
 
$
2,676

 
$
927

 
$
1,749

 
 
$
2,452

 
$
849

 
$
1,603

OCI before realized gains recognized in net income
 
(260
)
 
(91
)
 
(169
)
 
 
252

 
87

 
165

Realized gains recognized in net income
 
(59
)
 
(21
)
 
(38
)
 
 
(17
)
 
(5
)
 
(12
)
OCI
 
(319
)
 
(112
)
 
(207
)
 
 
235

 
82

 
153

AOCI, end of period
 
$
2,357

 
$
815

 
$
1,542

 
 
$
2,687

 
$
931

 
$
1,756

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pension obligations:
 
 
 
 
 
 
 
 
 
 
 
 
 
AOCI, beginning of period
 
$
(35
)
 
$
(12
)
 
$
(23
)
 
 
$
(19
)
 
$
(6
)
 
$
(13
)
OCI excluding amortization recognized in net income
 
—

 
—

 
—

 
 
—

 
—

 
—

Amortization recognized in net income
 
2

 
1

 
1

 
 
—

 
—

 
—

OCI
 
2

 
1

 
1

 
 
—

 
—

 
—

AOCI, end of period
 
$
(33
)
 
$
(11
)
 
$
(22
)
 
 
$
(19
)
 
$
(6
)
 
$
(13
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Life deferred acquisition costs, life policy reserves and other:
 
 
 
 
 
 
 
 
 
 
 
 
 
AOCI, beginning of period
 
$
(14
)
 
$
(4
)
 
$
(10
)
 
 
$
(17
)
 
$
(5
)
 
$
(12
)
OCI before realized gains recognized in net income
 
7

 
3

 
4

 
 
(2
)
 
—

 
(2
)
Realized gains recognized in net income
 
(1
)
 
(1
)
 
—

 
 
3

 
—

 
3

OCI
 
6

 
2

 
4

 
 
1

 
—

 
1

AOCI, end of period
 
$
(8
)
 
$
(2
)
 
$
(6
)
 
 
$
(16
)
 
$
(5
)
 
$
(11
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Summary of AOCI:
 
 
 
 
 
 
 
 
 
 
 
 
 
AOCI, beginning of period
 
$
2,627

 
$
911

 
$
1,716

 
 
$
2,416

 
$
838

 
$
1,578

Investments OCI
 
(319
)
 
(112
)
 
(207
)
 
 
235

 
82

 
153

Pension obligations OCI
 
2

 
1

 
1

 
 
—

 
—

 
—

Life deferred acquisition costs, life policy reserves and other OCI
 
6

 
2

 
4

 
 
1

 
—

 
1

Total OCI
 
(311
)
 
(109
)
 
(202
)
 
 
236

 
82

 
154

AOCI, end of period
 
$
2,316

 
$
802

 
$
1,514

 
 
$
2,652

 
$
920

 
$
1,732

 
 
 
 
 
 
 
 
 
 
 
 
 
 

(Dollars in millions)
Six months ended June 30,
 
2015
 
 
2014
 
Before tax
 
Income tax
 
Net
 
 
Before tax
 
Income tax
 
Net
Investments:
 
 
 
 
 
 
 
 
 
 
 
 
AOCI, beginning of period
$
2,719

 
$
942

 
$
1,777

 
 
$
2,335

 
$
808

 
$
1,527

OCI excluding realized gains recognized in net income
(257
)
 
(90
)
 
(167
)
 
 
387

 
135

 
252

Realized gains recognized in net income
(105
)
 
(37
)
 
(68
)
 
 
(35
)
 
(12
)
 
(23
)
OCI
(362
)
 
(127
)
 
(235
)
 
 
352

 
123

 
229

AOCI, end of period
$
2,357

 
$
815

 
$
1,542

 
 
$
2,687

 
$
931

 
$
1,756

 
 
 
 
 
 
 
 
 
 
 
 
 
Pension obligations:
 
 
 
 
 
 
 
 
 
 
 
 
AOCI, beginning of period
$
(36
)
 
$
(12
)
 
$
(24
)
 
 
$
(18
)
 
$
(6
)
 
$
(12
)
OCI excluding amortization recognized in net income
—

 
—

 
—

 
 
—

 
—

 
—

Amortization recognized in net income
3

 
1

 
2

 
 
(1
)
 
—

 
(1
)
OCI
3

 
1

 
2

 
 
(1
)
 
—

 
(1
)
AOCI, end of period
$
(33
)
 
$
(11
)
 
$
(22
)
 
 
$
(19
)
 
$
(6
)
 
$
(13
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Life deferred acquisition costs, life policy reserves and other:
 
 
 
 
 
 
 
 
 
 
 
 
AOCI, beginning of period
$
(12
)
 
$
(3
)
 
$
(9
)
 
 
$
(16
)
 
$
(5
)
 
$
(11
)
OCI excluding realized gains recognized in net income
6

 
2

 
4

 
 
1

 
1

 
—

Realized gains recognized in net income
(2
)
 
(1
)
 
(1
)
 
 
(1
)
 
(1
)
 
—

OCI
4

 
1

 
3

 
 
—

 
—

 
—

AOCI, end of period
$
(8
)
 
$
(2
)
 
$
(6
)
 
 
$
(16
)
 
$
(5
)
 
$
(11
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Summary of AOCI:
 
 
 
 
 
 
 
 
 
 
 
 
AOCI, beginning of period
$
2,671

 
$
927

 
$
1,744

 
 
$
2,301

 
$
797

 
$
1,504

Investments OCI
(362
)
 
(127
)
 
(235
)
 
 
352

 
123

 
229

Pension obligations OCI
3

 
1

 
2

 
 
(1
)
 
—

 
(1
)
Life deferred acquisition costs, life policy reserves and other OCI
4

 
1

 
3

 
 
—

 
—

 
—

Total OCI
(355
)
 
(125
)
 
(230
)
 
 
351

 
123

 
228

AOCI, end of period
$
2,316

 
$
802

 
$
1,514

 
 
$
2,652

 
$
920

 
$
1,732

 
 
 
 
 
 
 
 
 
 
 
 
 

Investments realized gains and life deferred acquisition costs, life policy reserves and other realized gains are recorded in the realized investment gains, net, line item in the condensed consolidated statements of income. Amortization on pension obligations is recorded in the insurance losses and contract holders' benefits and underwriting, acquisition and insurance expenses in the condensed consolidated statements of income.