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Deferred Policy Acquisition Costs and Present Value of Future Profits
 9 Months Ended
Sep. 30, 2012
Deferred Policy Acquisition Costs and Present Value of Future Profits [Abstract]  
Deferred Policy Acquisition Costs and Present Value of Future Profits
Deferred Policy Acquisition Costs and Present Value of Future Profits
The Company capitalizes policy acquisition costs that are directly related to the successful acquisition of new and renewal insurance contracts in accordance with ASU No. 2010-26. On January 1, 2012, the Company adopted ASU No. 2010-26 as further discussed in Note 1 of the Notes to Condensed Consolidated Financial Statements. As a result of this change in accounting policy, deferred policy acquisition costs and present value of future profits as of January 1, 2011 decreased by approximately $2.4 billion from $9.9 billion, as previously reported.
Changes in the DAC balance are as follows: 
Nine Months Ended
September 30,
 
2012
 
2011
Balance, beginning of period, as currently reported
$
6,556

 
$
7,473

Deferred Costs
1,251

 
1,271

Amortization – DAC
(1,397
)
 
(1,660
)
Amortization – Unlock charge, pre-tax
(44
)
 
(387
)
Adjustments to unrealized gains and losses on securities available-for-sale and other [1]
(408
)
 
(223
)
Effect of currency translation
(11
)
 
73

Balance, end of period
$
5,947

 
$
6,547


[1] Other includes a $16 reduction of the DAC asset as a result of the sale of assets used to administer the Company's PPLI business in 2012. The reduction is directly attributable to this transaction as it results in lower future estimated gross profits than originally estimated on these products. For further information regarding this transaction see Note 17 of the Notes to Condensed Consolidated Financial Statements.