DERIVATIVE INSTRUMENTS (Tables)

3 Months Ended

Mar. 31, 2012

Notes to Financial Statements [Abstract]

Fair Value and Notional Amount of Derivatives with Counterparty Credit Risk

The counterparties to these swap agreements are financial institutions with the following credit ratings.

	March 31, 2012							December 31, 2011
	Fair Value				Notional Amount			Fair Value				Notional Amount
(In millions)	of Swaps				of Swaps			of Swaps				of Swaps
Counterparty credit rating:
AA		$	14			$	272		$	0			$	0
A		(124		)		5,756			(156		)		5,491
Total		$	(110	)		$	6,028		$	(156	)		$	5,491

Maximum Potential Risk, Fair Value, Weighted Average Years to Maturity, and Underlying Referenced Credit Obligation Type for Credit Derivatives

The following tables present the maximum potential risk, fair value, weighted-average years to maturity, and underlying referenced credit obligation type for credit default swaps within consolidated VIE structures.

March 31, 2012
		Less than one year				One to three years				Three to five years						Five to ten years						Total
(In millions)	Credit Rating	Maximum potential risk		Estimated fair value		Maximum potential risk		Estimated fair value		Maximum potential risk			Estimated fair value			Maximum potential risk			Estimated fair value			Maximum potential risk			Estimated fair value
Index exposure:
Corporate bonds:
	A	$	0	$	0	$	0	$	0	$	(139	)	$	(4	)	$	0		$	0		$	(139	)	$	(4	)
	BB or lower	0		0		0		0		0			0			(228		)	(93		)	(228		)	(93		)
Total		$	0	$	0	$	0	$	0	$	(139	)	$	(4	)	$	(228	)	$	(93	)	$	(367	)	$	(97	)

December 31, 2011
		Less than one year				One to three years				Three to five years						Five to ten years						Total
(In millions)	Credit Rating	Maximum potential risk		Estimated fair value		Maximum potential risk		Estimated fair value		Maximum potential risk			Estimated fair value			Maximum potential risk			Estimated fair value			Maximum potential risk			Estimated fair value
Index exposure:
Corporate bonds:
	A	$	0	$	0	$	0	$	0	$	(146	)	$	(17	)	$	0		$	0		$	(146	)	$	(17	)
	BB or lower	0		0		0		0		0			0			(235		)	(113		)	(235		)	(113		)
Total		$	0	$	0	$	0	$	0	$	(146	)	$	(17	)	$	(235	)	$	(113	)	$	(381	)	$	(130	)

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The tables below summarize the balance sheet classification of our derivative fair value amounts, as well as the gross asset and liability fair value amounts. The fair value amounts presented do not include income accruals. The notional amount of derivative contracts represents the basis upon which pay or receive amounts are calculated. Notional amounts are not reflective of credit risk.

	March 31, 2012
(In millions)	Net Derivatives					Asset Derivatives		Liability Derivatives
Hedge Designation/ Derivative Type	Notional Amount		Fair Value			Fair Value		Fair Value
Cash flow hedges:
Interest rate swaps	$	67	$	0		$	0	$	0
Foreign currency swaps	75		24			24		0
Total cash flow hedges	142		24			24		0
Non-qualifying strategies:
Interest rate swaps	367		28			31		(3		)
Foreign currency swaps	5,152		(65		)	263		(328		)
Credit default swaps	367		(97		)	0		(97		)
Total non-qualifying strategies	5,886		(134		)	294		(428		)
Total cash flow hedges and non-qualifying strategies	$	6,028	$	(110	)	$	318	$	(428	)
Balance Sheet Location
Other assets	$	2,436	$	318		$	318	$	0
Other liabilities	3,592		(428		)	0		(428		)
Total derivatives	$	6,028	$	(110	)	$	318	$	(428	)
	December 31, 2011
(In millions)	Net Derivatives					Asset Derivatives		Liability Derivatives
Hedge Designation/ Derivative Type	Notional Amount		Fair Value			Fair Value		Fair Value
Cash flow hedges:
Interest rate swaps	$	71	$	0		$	0	$	0
Foreign currency swaps	75		36			36		0
Total cash flow hedges	146		36			36		0
Non-qualifying strategies:
Interest rate swaps	381		30			34		(4		)
Foreign currency swaps	4,583		(92		)	305		(397		)
Credit default swaps	381		(130		)	0		(130		)
Total non-qualifying strategies	5,345		(192		)	339		(531		)
Total cash flow hedges and non-qualifying strategies	$	5,491	$	(156	)	$	375	$	(531	)
Balance Sheet Location
Other assets	$	1,794	$	375		$	375	$	0
Other liabilities	3,697		(531		)	0		(531		)
Total derivatives	$	5,491	$	(156	)	$	375	$	(531	)

Cash Flow Hedges Gains (Losses) Recognized in Other Comprehensive Income and Income

The following table presents the components of the gain or loss on derivatives that qualified as cash flow hedges.

Derivatives in Cash Flow Hedging Relationships

(In millions)	Gain (Loss) Recognized in Other Comprehensive Income on Derivative (Effective Portion)				Realized Investment Gains (Losses) Recognized in Income on Derivative (Ineffective Portion)
Three Months Ended March 31, 2012:
Interest rate swaps		$	0			$	0
Foreign currency swaps		(12		)		0
Total		$	(12	)		$	0
Three Months Ended March 31, 2011:
Interest rate swaps		$	1			$	0
Foreign currency swaps		(56		)		(4		)
Total		$	(55	)		$	(4	)

Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location

The following table presents the gain or loss recognized in income on non-qualifying strategies.

Non-qualifying Strategies

Gain (Loss) Recognized within Realized Investment Gains (Losses)

	Three Months Ended March 31,
(In millions)	2012				2011
Interest rate swaps		$	(3	)		$	(5	)
Foreign currency swaps		50				(29		)
Credit default swaps		33				5
Other		0				3
Total		$	80			$	(26	)

Schedule of Net Investment Hedges Statements of Financial Performance and Financial Position Location

Non-Derivative Hedging Instruments in

Net Investment Hedging Relationships

	Gain (Loss) Recognized in Other Comprehensive Income (Effective Portion)
	Three Months Ended March 31,
(In millions)	2012			2011
Non-derivative hedging instruments		$	49		$	22