Comprehensive income and accumulated other comprehensive loss

9 Months Ended

Sep. 30, 2011

Comprehensive income and accumulated other comprehensive income (loss)

Comprehensive income and accumulated other comprehensive loss

7.       Comprehensive income and accumulated other comprehensive income (loss)

Comprehensive Income

The components of comprehensive income were as follows (amounts in millions):

			Three months ended September 30,				Nine months ended September 30,
			2011		2010		2011		2010
Net income			$	148	$	51	$	986	$	651
Other comprehensive income (loss):
	Foreign currency translation adjustment			(58)		48		(18)		15
	Unrealized appreciation on
		investments, net of taxes		---		---		2		---
Other comprehensive income (loss)				(58)		48		(16)		15
Comprehensive income			$	90	$	99	$	970	$	666

The components of accumulated other comprehensive income (loss) were as follows (amounts in millions):

		At		At
		September 30,		December 31,
		2011		2010
Foreign currency translation adjustment		$	(29)	$	(11)
Unrealized depreciation on investments, net of deferred income taxes
	of $0 at September 30, 2011 and $(1) at December 31, 2010		---		(2)
Accumulated other comprehensive income (loss)		$	(29)	$	(13)

Income taxes were not provided for foreign currency translation items as these are considered indefinite investments in non-U.S. subsidiaries.