DERIVATIVE INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2011

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

The following table presents 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 as of 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	)

	2010
		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	$	(140	)	$	(13	)	$	0		$	0		$	(140	)	$	(13	)
	BB or lower		0		0		0		0		(200	)		(105	)		(416	)		(225	)		(616	)		(330	)
Total		$	0	$	0	$	0	$	0	$	(340	)	$	(118	)	$	(416	)	$	(225	)	$	(756	)	$	(343	)

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, at December 31. 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. The change in the value of the notional amounts from December 31, 2010 to December 31, 2011 was due to foreign exchange and terminations of hedging activity and swap contracts in the consolidated VIE structures.

	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	)

	2010
(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	$	245	$	(2	)	$	0	$	(2	)
Foreign currency swaps		615		170			180		(10	)
Total cash flow hedges		860		168			180		(12	)
Non-qualifying strategies:
Interest rate swaps		743		56			124		(68	)
Foreign currency swaps		3,815		(58	)		260		(318	)
Credit default swaps		756		(343	)		0		(343	)
Total non-qualifying strategies		5,314		(345	)		384		(729	)
Total cash flow hedges and non-qualifying strategies	$	6,174	$	(177	)	$	564	$	(741	)
Balance Sheet Location
Other assets	$	2,364	$	564		$	564	$	0
Other liabilities		3,810		(741	)		0		(741	)
Total derivatives	$	6,174	$	(177	)	$	564	$	(741	)

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 for the years ended December 31.

Derivatives in Cash Flow Hedging Relationships

	Gain (Loss) Recognized in Other Comprehensive Income on Derivative (Effective Portion)					Realized Investment Gains (Losses) Recognized in Income on Derivative (Ineffective Portion)
(In millions)	2011			2010		2011		2010
Interest rate swaps	$	2		$	1	$	0	$	0
Foreign currency swaps		(35	)		50		0		20
Total	$	(33	)	$	51	$	0	$	20

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 for the years ended December 31.

Non-qualifying Strategies

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

(In millions)	2011			2010
Interest rate swaps	$	(33	)	$	7
Foreign currency swaps		(160	)		3
Credit default swaps		(64	)		(31	)
Total	$	(257	)	$	21