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

6 Months Ended

Jun. 30, 2014

Discontinued Operations and Disposal Groups [Abstract]

Detailed assets and liabilities held for sale and results of 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