Realized (Gain) Loss

6 Months Ended

Jun. 30, 2012

Notes to Financial Statements [Abstract]

Realized (Gain) Loss

10. Realized Gain (Loss)

Details underlying realized gain (loss) (in millions) reported on our Consolidated Statements of Comprehensive Income (Loss) were as follows:

			For the Three				For the Six
			Months Ended				Months Ended
			June 30,				June 30,
			2012		2011		2012		2011
Total realized gain (loss) related to certain investments (1)			$	(51)	$	(32)	$	(99)	$	(47)
Realized gain (loss) on the mark-to-market on certain instruments (2)				(19)		(1)		39		9
Indexed annuity net derivative results: (3)
	Gross gain (loss)			(3)		1		19		7
	Associated amortization of DAC, VOBA, DSI and DFEL			1		-		(5)		(2)
Variable annuity net derivatives results: (4)
	Gross gain (loss)			148		34		14		44
	Associated amortization of DAC, VOBA, DSI and DFEL			(33)		(11)		(11)		(18)
		Total realized gain (loss)	$	43	$	(9)	$	(43)	$	(7)

• See “Realized Gain (Loss) Related to Certain Investments” section in Note 4.
• Represents changes in the fair values of certain derivative investments (including those associated with our consolidatedVIEs), total return swaps (embedded derivatives that are theoretically included in our various modified coinsurance and coinsurance with funds withheld reinsurance arrangements that have contractual returns related to various assets and liabilities associated with these arrangements) and trading securities.
• Represents the net difference between the change in the fair value of the S&P 500 call options that we hold and the change in the fair value of the embedded derivative liabilities of our indexed annuity products along with changes in the fair value of embedded derivative liabilities related to index call options we may purchase in the future to hedge contract holder index allocations applicable to future reset periods for our indexed annuity products.
• Includes the net difference in the change in embedded derivative reserves of our GLB products and the change in the fair value of the derivative instruments we own to hedge GDB and GLB products, including the cost of purchasing the hedging instruments.