Assets & Liabilities Held for Sale and Discontinued Operations (Tables)

3 Months Ended

Mar. 31, 2014

Discontinued Operations and Disposal Groups [Abstract]

Detailed assets and liabilities held for sale and results of discontinued operations

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

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