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Derivative Financial Instruments (Tables)

9 Months Ended

Jul. 01, 2012

Derivative Financial Instruments [Abstract]

Pretax impact of derivative instruments designated as cash flow hedges on the accompanying Condensed Consolidated Statements of Operations, and within AOCI

Derivatives in Cash Flow Hedging Relationships		Amount of Gain (Loss) Recognized in AOCI on Derivatives (Effective Portion)								Amount of Gain (Loss) Reclassified from AOCI into Income (Effective Portion)								Amount of Gain (Loss) Recognized in Income on Derivatives  (Ineffective Portion and Amount Excluded from Effectiveness Testing)								Location of Gain (Loss) Recognized in Income on Derivatives
Three Months		2012				2011				2012				2011				2012				2011
Commodity contracts		$	(2,368	)		$	(109	)		$	(120	)		$	587			$	(6	)		$	16			Cost of goods sold
Interest rate contracts			—				(42	)			—				(839	)			—				(44	)		Interest expense
Foreign exchange contracts			(395	)			(11	)			(129	)			105				—				—			Net sales
Foreign exchange contracts			5,973				(5,011	)			558				(4,346	)			—				—			Cost of goods sold
Total		$	3,210			$	(5,173	)		$	309			$	(4,493	)		$	(6	)		$	(28	)
Nine Months		2012				2011				2012				2011				2012				2011
Commodity contracts		$	(1,989	)		$	1,764			$	(675	)		$	1,921			$	8			$	17			Cost of goods sold
Interest rate contracts			15				(102	)			(864	)			(2,527	)			—				(294	)		Interest expense
Foreign exchange contracts			(61	)			216				(339	)			(102	)			—				—			Net sales
Foreign exchange contracts			2,426				(15,801	)			(1,336	)			(8,438	)			—				—			Cost of goods sold
Total		$	391			$	(13,923	)		$	(3,214	)		$	(9,146	)		$	8			$	(277	)

Call options [Member]

Derivative Financial Instruments [Abstract]

FGL's exposure to credit loss on the call options held

		Credit Rating (Moody’s/S&P)		July 1, 2012								September 30, 2011
Counterparty				Notional Amount				Fair Value				Notional Amount				Fair Value
Bank of America		Baa2/A-		$	1,910,817			$	49,687			$	1,692,142			$	14,637
Morgan Stanley		Baa1/A-			1,784,389				42,854				1,629,247				15,373
Deutsche Bank		A2/A+			1,570,297				40,107				1,463,596				11,402
Royal Bank of Scotland		Baa1/A-			239,175				11,580				—				—
Barclay’s Bank		A2/A+			139,534				2,436				385,189				4,105
Nomura		Baa2/A-			107,000				9,897				107,000				4,033
Credit Suisse		A2/A			20,000				358				327,095				2,785
				$	5,771,212			$	156,919			$	5,604,269			$	52,335

Consumer Products and Other:

Derivative Financial Instruments [Abstract]

Fair value of outstanding derivative contracts in Condensed Consolidated Balance Sheets

Asset Derivatives		Classification		July 1, 2012				September 30, 2011
Derivatives designated as hedging instruments:
Commodity contracts		Receivables		$	—			$	274
Foreign exchange contracts		Receivables			4,959				3,189
Foreign exchange contracts		Deferred charges and other assets			326				—
Total asset derivatives designated as hedging instruments					5,285				3,463
Derivatives not designated as hedging instruments:
Foreign exchange contracts		Receivables			271				—
Total asset derivatives				$	5,556			$	3,463

Liability Derivatives		Classification		July 1, 2012				September 30, 2011
Derivatives designated as hedging instruments:
Interest rate contracts		Accounts payable		$	—			$	1,246
Interest rate contracts		Accrued and other current liabilities			—				708
Commodity contracts		Accounts payable			1,801				1,228
Commodity contracts		Other liabilities			892				4
Foreign exchange contracts		Accounts payable			753				2,698
Total liability derivatives designated as hedging instruments					3,446				5,884
Derivatives not designated as hedging instruments:
Foreign exchange contracts		Accounts payable			1,780				10,945
Foreign exchange contracts		Other liabilities			1,504				12,036
Equity conversion feature of preferred stock		Equity conversion feature of preferred stock			199,360				75,350
Total liability derivatives				$	206,090			$	104,215

Summary of Gain (Loss) Recognized in Income on Derivatives

Derivatives Not Designated as Hedging Instruments		Amount of Gain (Loss) Recognized in Income on Derivatives																Location of Gain (Loss) Recognized in Income on Derivatives
		Three Months								Nine Months
		2012				2011				2012				2011
Equity conversion feature of preferred stock		$	(125,540	)		$	5,960			$	(124,010	)		$	5,960			(Increase) decrease in fair value of equity conversion feature of preferred stock
Foreign exchange contracts			7,941				(7,578	)			11,734				(17,468	)			Other income (expense), net
Total		$	(117,599	)		$	(1,618	)		$	(112,276	)		$	(11,508	)

Insurance and Financial Services:

Derivative Financial Instruments [Abstract]

Fair value of outstanding derivative contracts in Condensed Consolidated Balance Sheets

		July 1, 2012				September 30, 2011
Assets:
Derivative investments:
Call options		$	156,919			$	52,335
Futures contracts			3,646				—
		$	160,565			$	52,335
Liabilities:
Contractholder funds:
FIA embedded derivative		$	1,486,465			$	1,396,340
Other liabilities:
Futures contracts			—				3,828
Available-for-sale embedded derivative			—				400
		$	1,486,465			$	1,400,568

Summary of Gain (Loss) Recognized in Income on Derivatives

		Three Month Period Ended								Nine Month Period Ended
		July 1, 2012				July 3, 2011				July 1, 2012				July 3, 2011
Revenues:
Net investment gains (losses):
Call options		$	(44,557	)		$	(15,400	)		$	48,722			$	(15,400	)
Futures contracts			(6,577	)			1,596				33,926				1,596
			(51,134	)			(13,804	)			82,648				(13,804	)
Net investment income:
Available-for-sale embedded derivatives			376				8				400				8
		$	(50,758	)		$	(13,796	)		$	83,048			$	(13,796	)
Benefits and other changes in policy reserves:
FIA embedded derivatives		$	(10,338	)		$	(21,802	)		$	90,125			$	(21,802	)

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Schedule of cash flow hedging instruments statements of financial performance location.

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Tabular disclosure of the location and amount of gains and losses reported in the statement of financial performance, or when applicable, the statement of financial position. For example, (a) gains and losses recognized in the income statement on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges and (b) gains and losses initially recognized in other comprehensive income on derivative instruments designated and qualifying as cash flow hedges.

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-Number 133

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.



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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.



Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

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Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 133

-Paragraph 205G

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.



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-Name Accounting Standards Codification

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-Name Statement of Financial Accounting Standard (FAS)

-Number 133

-Paragraph 44C

-Subparagraph a

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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