Recent Accounting Pronouncements (Tables)

3 Months Ended

Mar. 31, 2012

Recent Accounting Pronouncements

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

Condensed Consolidated Statement of Income
Three Months Ended March 31, 2011
				Effect of
				amended		As
		As previously		accounting		retrospectively
(in millions)		reported		guidance		adjusted
Revenues, excluding other revenues	$	5,377	$	-	$	5,377
Other revenues		36		(2)		34
Total Revenues		5,413		(2)		5,411
Benefits and expenses, excluding other operating expenses		3,331				3,331
Other operating expenses		1,482		19		1,501
Total benefits and expenses		4,813		19		4,832
Income before Income Taxes		600		(21)		579
Current income taxes		22				22
Deferred income taxes		148		(5)		143
Total taxes		170		(5)		165
Net income		430		(16)		414
Less: Net income attributable to Noncontrolling Interest		1		-		1
Shareholders' Net Income	$	429	$	(16)	$	413
Earnings per share:
Basic	$	1.59	$	(0.06)	$	1.53
Diluted	$	1.57	$	(0.06)	$	1.51
Condensed Consolidated Balance sheet
As of December 31, 2011
				Effect of
				amended		As
		As previously		accounting		retrospectively
(in millions)		reported		guidance		adjusted
Deferred policy acquisition costs	$	1,312	$	(495)	$	817
Deferred income taxes, net		632		171		803
Other assets, including other intangibles		1,776		(26)		1,750
All other assets		47,327				47,327
Total assets	$	51,047	$	(350)	$	50,697
Net translation of foreign currencies	$	(3)	$	6	$	3
Retained earnings		11,143		(356)		10,787
Other shareholders' equity		(2,796)				(2,796)
Total shareholders' equity	$	8,344	$	(350)	$	7,994

Condensed Consolidated Statement of Cash Flows
Three Months Ended March 31, 2011
				Effect of
				amended		As
		As previously		accounting		retrospectively
(in millions)		reported		guidance		adjusted
Net income	$	430	$	(16)	$	414
Deferred income taxes		148		(5)		143
Deferred policy acquisition expenses		(67)		19		(48)
Other assets		39		2		41
Note 16
Segment information: International
Three Months Ended March 31, 2011
				Effect of
				amended		As
		As previously		accounting		retrospectively
(in millions)		reported		guidance		adjusted
Premiums and fees and other revenues	$	706	$	(2)	$	704
Segment earnings		77		(16)		61