Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2011

Recent Accounting Pronouncements

Impact of ASU 2010-26 Adoption on Consolidated Financial Statements and International Segment

Condensed Consolidated Statement of Income
Year Ended December 31
								Effect of amended
		As previously						accounting						As retrospectively
(In millions)		reported						guidance						adjusted
		2011		2010		2009		2011		2010		2009		2011		2010		2009
Revenues, excluding other revenues	$	21,744	$	20,993	$	18,294	$	-	$	-	$	-	$	21,744	$	20,993	$	18,294
Other revenues		254		260		120		(10)		(6)		(4)		244		254		116
Total Revenues		21,998		21,253		18,414		(10)		(6)		(4)		21,988		21,247		18,410
Benefits and expenses, excluding other operating expenses		13,927		13,457		11,066		-		-		-		13,927		13,457		11,066
Other operating expenses		6,103		5,926		5,450		82		62		41		6,185		5,988		5,491
Total benefits and expenses		20,030		19,383		16,516		82		62		41		20,112		19,445		16,557
Income before Income Taxes		1,968		1,870		1,898		(92)		(68)		(45)		1,876		1,802		1,853
Current income taxes		398		331		275		-		-		-		398		331		275
Deferred income taxes		242		190		319		(25)		(2)		(35)		217		188		284
Total taxes		640		521		594		(25)		(2)		(35)		615		519		559
Discontinued Operations		-		-		1		-		-		-		-		-		1
Net income		1,328		1,349		1,305		(67)		(66)		(10)		1,261		1,283		1,295
Less: Net income attributable to Noncontrolling Interest		1		4		3		-		-		-		1		4		3
Shareholders' Net Income	$	1,327	$	1,345	$	1,302	$	(67)	$	(66)	$	(10)	$	1,260	$	1,279	$	1,292
Earnings per share:
Basic	$	4.90	$	4.93	$	4.75	$	(0.25)	$	(0.24)	$	(0.04)	$	4.65	$	4.69	$	4.71
Diluted	$	4.84	$	4.89	$	4.73	$	(0.25)	$	(0.24)	$	(0.04)	$	4.59	$	4.65	$	4.69
Condensed Consolidated Balance Sheet
As of December 31
								Effect of amended
		As previously						accounting								As retrospectively
(In millions)		reported						guidance								adjusted
		2011		2010				2011		2010						2011		2010
Deferred policy acquisition costs	$	1,312	$	1,122			$	(495)	$	(421)					$	817	$	701
Deferred income taxes, net		632		782				171		148						803		930
Other assets, including other intangibles		1,776		1,238				(26)		(16)						1,750		1,222
All other assets		47,327		42,540				-		-						47,327		42,540
Total assets	$	51,047	$	45,682			$	(350)	$	(289)					$	50,697	$	45,393
Net translation of foreign currencies	$	(3)	$	25			$	6	$	-					$	3	$	25
Retained earnings		11,143		9,879				(356)		(289)						10,787		9,590
Other shareholders' equity		(2,796)		(3,259)				-		-						(2,796)		(3,259)
Total shareholders' equity	$	8,344	$	6,645			$	(350)	$	(289)					$	7,994	$	6,356

Condensed Consolidated Statement of Cash Flows
Year Ended December 31
								Effect of amended
		As previously						accounting						As retrospectively
(In millions)		reported						guidance						adjusted
		2011		2010		2009		2011		2010		2009		2011		2010		2009
Net income	$	1,328	$	1,349	$	1,305	$	(67)	$	(66)	$	(10)	$	1,261	$	1,283	$	1,295
Deferred income taxes		242		190		319		(25)		(2)		(35)		217		188		284
Deferred policy acquisition expenses		(211)		(156)		(109)		82		62		41		(129)		(94)		(68)
Other assets		(317)		(3)		452		10		6		4		(307)		3		456
Note 22
Segment information: International
Year Ended December 31
								Effect of amended
		As previously						accounting						As retrospectively
(In millions)		reported						guidance						adjusted
		2011		2010		2009		2011		2010		2009		2011		2010		2009
Premiums and fees and other revenues	$	3,017	$	2,299	$	1,904	$	(10)	$	(6)	$	(4)	$	3,007	$	2,293	$	1,900
Segment earnings		286		243		183		(67)		(66)		(10)		219		177		173