Assets & Liabilities Held for Sale and Discontinued Operations

6 Months Ended

Jun. 30, 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:

Periods ended June 30	Three Months						Six Months
(In millions)	2014			2013			2014			2013
Revenues
Net investment income	$	39		$	44		$	80		$	86
Net realized investment gains	1			—			2			5
Other revenues	—			(1		)	—			—
Total revenues	40			43			82			91
Claims, Benefits and Expenses
Insurance claims and policyholders' benefits	32			36			63			69
Other operating expenses	1			1			2			2
Total claims, benefits and expenses	33			37			65			71
Income before income tax	7			6			17			20
Income tax expense	(1		)	(2		)	(4		)	(7		)
Income from operations of discontinued operations, net of income tax	6			4			13			13
Impairment loss related to sale, net of income tax benefit of -, -, $41 and -	—			—			(214		)	—
Income (loss) from discontinued operations	$	6		$	4		$	(201	)	$	13

The following table presents the detailed assets and liabilities held for sale as of June 30, 2014:

(In millions)	2014
Assets
Investments:
Fixed maturity securities at fair value	$	2,752
Equity securities at fair value	17
Short term investments	67
Total investments	2,836
Cash	9
Reinsurance receivables	811
Other assets	46
Separate account business	146
Assets held for sale	3,848
Less: Impairment related to sale	(255		)
Total assets held for sale	$	3,593
Liabilities
Insurance reserves	$	3,109
Other liabilities	88
Separate account business	146
Total liabilities held for sale	$	3,343