Assets & Liabilities Held for Sale and Discontinued Operations

3 Months Ended

Mar. 31, 2014

Discontinued Operations and Disposal Groups [Abstract]

Assets and Liabilities Held for Sale and Discontinued Operations

Note M. Assets and Liabilities Held for Sale and Discontinued Operations

The results of discontinued operations reflected in the Condensed Consolidated Statements of Operations were as follows:

Three months ended March 31
(In millions)	2014			2013
Revenues
Net investment income	$	41		$	42
Net realized investment gains	1			5
Other revenues	—			1
Total revenues	42			48
Claims, Benefits and Expenses
Insurance claims and policyholders' benefits	31			33
Other operating expenses	1			1
Total claims, benefits and expenses	32			34
Income before income tax	10			14
Income tax expense	(3		)	(5		)
Income from operations of discontinued operations, net of income tax	7			9
Impairment loss on sale, net of income tax benefit of $41 and -	(214		)	—
(Loss) income from discontinued operations	$	(207	)	$	9

The following table presents the detailed assets and liabilities held for sale as of March 31, 2014:

(In millions)	2014
Assets
Investments:
Fixed maturity securities at fair value	$	2,684
Equity securities at fair value	16
Other invested assets	1
Short term investments	36
Total investments	2,737
Cash	14
Reinsurance receivables	787
Other assets	55
Separate account business	148
Assets held for sale	3,741
Less: Impairment on sale	(255		)
Total assets held for sale	$	3,486
Liabilities
Insurance reserves	$	3,017
Other liabilities	85
Separate account business	148
Total liabilities held for sale	$	3,250