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Condensed Consolidated Balance Sheets (Unaudited) (USD $)
In Millions, unless otherwise specified
Sep. 30, 2012
Dec. 31, 2011
Investments:    
Fixed maturities, available-for-sale, at fair value (amortized cost of $80,690 and $78,978) (includes variable interest entity assets, at fair value, of $265 and $153) $ 86,726 $ 81,809
Fixed maturities, at fair value using the fair value option (includes variable interest entity assets of $344 and $338) 1,355 1,328
Equity securities, trading, at fair value (cost of $30,454 and $32,928) 29,980 30,499
Equity securities, available-for-sale, at fair value (cost of $865 and $1,056) 878 921
Mortgage loans (net of allowances for loan losses of $83 and $102) 6,863 5,728
Policy loans, at outstanding balance 2,000 2,001
Limited partnerships and other alternative investments (includes variable interest entity assets of $6 and $7) 3,039 2,532
Other investments 1,540 2,394
Short-term investments (includes variable interest entity assets, at fair value, of $1 as of September 30, 2012) 4,787 7,736
Total investments 137,168 134,948
Cash 2,705 2,581
Premiums receivable and agents' balances, net 3,646 3,446
Reinsurance recoverables, net 4,726 4,768
Deferred policy acquisition costs and present value of future profits 5,947 6,556
Deferred income taxes, net 1,393 2,131
Goodwill 664 1,006
Property and equipment, net 979 1,029
Other assets 3,124 2,274
Separate account assets 148,369 143,870
Total assets 308,721 302,609
Liabilities    
Reserve for future policy benefits and unpaid losses and loss adjustment expenses 40,992 41,016
Other policyholder funds and benefits payable 43,086 45,612
Other policyholder funds and benefits payable - international variable annuities 29,938 30,461
Unearned premiums 5,370 5,222
Short-term Debt 320 0
Long-term debt 6,806 6,216
Consumer notes 190 314
Other liabilities (includes variable interest entity liabilities of $420 and $471) 10,668 8,412
Separate account liabilities 148,369 [1],[2] 143,870
Total liabilities 285,739 281,123
Stockholders' Equity    
Preferred stock, $0.01 par value - 50,000,000 shares authorized, 575,000 shares issued, liquidation preference $1,000 per share 556 556
Common stock, $0.01 par value - 1,500,000,000 shares authorized, 469,746,638 and 469,750,171 shares issued 5 5
Additional paid-in capital 10,032 10,391
Retained earnings 10,847 11,001
Treasury stock, at cost - 33,680,760 and 27,211,115 shares (1,753) (1,718)
Accumulated other comprehensive income, net of tax 3,295 1,251
Total stockholders' equity 22,982 21,486
Total liabilities and stockholders' equity $ 308,721 $ 302,609
[1] AV includes the contract holder’s investment in the separate account and the general account.
[2] MAV GMDB is the greatest of current AV, net premiums paid and the highest AV on any anniversary before age 80 years (adjusted for withdrawals).