Aetna 2011 Annual Report Download - page 88

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Annual Report- Page 82
The maturity dates for debt securities in an unrealized capital loss position at December 31, 2011 were as follows:
(Millions)
Due to mature:
Less than one year
One year through five years
After five years through ten years
Greater than ten years
Residential mortgage-backed securities
Commercial mortgage-backed securities
Other asset-backed securities
Total
Supporting discontinued
and experience-rated products
Fair
Value
$ —
49.2
155.8
187.7
—
26.3
.6
$ 419.6
Unrealized
Losses
$ —
1.8
7.5
30.3
—
.9
—
$ 40.5
Supporting remaining
products
Fair
Value
$ 66.8
298.3
400.1
257.7
3.8
119.2
31.1
$ 1,177.0
Unrealized
Losses
$ 1.4
9.0
15.9
18.4
.1
4.9
3.8
$ 53.5
Total
Fair
Value
$ 66.8
347.5
555.9
445.4
3.8
145.5
31.7
$ 1,596.6
Unrealized
Losses
$ 1.4
10.8
23.4
48.7
.1
5.8
3.8
$ 94.0
Net realized capital gains for the three years ended December 31, 2011, 2010 and 2009, excluding amounts related
to experience-rated contract holders and discontinued products, were as follows:
(Millions)
OTTI losses on debt securities
Portion of OTTI losses on debt securities recognized
in other comprehensive income
Net OTTI losses on debt securities recognized in earnings
Net realized capital gains, excluding OTTI losses on debt securities
Net realized capital gains
2011
$ (10.2)
—
(10.2)
178.1
$ 167.9
2010
$ (46.7)
14.4
(32.3)
259.8
$ 227.5
2009
$ (122.1)
27.6
(94.5)
149.5
$ 55.0
The net realized capital gains in 2011, 2010 and 2009 were primarily attributable to the sale of debt securities. In
2011 and 2010, these gains were partially offset by losses on derivative transactions while in 2009, these gains were
also attributable to gains on derivative transactions. The net realized capital gains in each year were also partially
offset by the OTTI losses on debt securities shown in the table above.
Yield-related impairments are recognized in other comprehensive income unless we have the intention to sell the
security in an unrealized loss position, in which case the yield-related OTTI is recognized in earnings. Yield-related
OTTI losses were not significant in 2011 or 2010. In 2009, yield-related OTTI losses were $76 million, primarily
related to U.S. Treasury and corporate securities that were temporarily in a loss position due to changes in interest
rates and the widening of credit spreads on corporate securities relative to the interest rates on U.S. Treasury
securities in the first half of 2009. Because we did not assert our intention to hold these securities, under applicable
accounting guidance, as further discussed in Note 2 beginning on page 66, we recorded a yield-related OTTI loss.
We had no other individually material realized capital losses on debt or equity securities that impacted our operating
results during 2011, 2010 or 2009.
Excluding amounts related to experience-rated and discontinued products, proceeds from the sale of debt securities
and the related gross realized capital gains and losses for 2011, 2010 and 2009 were as follows:
(Millions)
Proceeds on sales
Gross realized capital gains
Gross realized capital losses
2011
$ 6,278.3
265.3
38.5
2010
$ 7,663.4
364.8
43.2
2009
$ 5,506.5
205.0
71.6