Aetna 2012 Annual Report Download - page 102

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Annual Report- Page 96
Debt and Equity Securities
Debt and equity securities available for sale at December 31, 2012 and 2011 were as follows:
(Millions) Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses Fair
Value
December 31, 2012
Debt securities:
U.S. government securities $ 1,413.4 $ 147.9 $ (1.8) $ 1,559.5
States, municipalities and political subdivisions 2,770.9 267.9 (4.3) 3,034.5
U.S. corporate securities 6,926.2 871.7 (7.3) 7,790.6
Foreign securities 2,988.1 391.3 (8.8) 3,370.6
Residential mortgage-backed securities 929.5 49.9 (.4) 979.0
Commercial mortgage-backed securities 1,268.7 149.7 (1.8) (1) 1,416.6
Other asset-backed securities 517.4 28.3 (3.6) (1) 542.1
Redeemable preferred securities 89.6 12.3 (7.3) 94.6
Total debt securities 16,903.8 1,919.0 (35.3) 18,787.5
Equity securities 38.3 5.1 (3.1) 40.3
Total debt and equity securities (2) $ 16,942.1 $ 1,924.1 $ (38.4) $ 18,827.8
December 31, 2011
Debt securities:
U.S. government securities $ 1,394.7 $ 165.0 $ (.4) $ 1,559.3
States, municipalities and political subdivisions 2,654.9 208.5 (3.3) 2,860.1
U.S. corporate securities 6,484.0 718.2 (28.1) 7,174.1
Foreign securities 2,614.9 278.2 (38.0) 2,855.1
Residential mortgage-backed securities 849.8 51.1 (.1) 900.8
Commercial mortgage-backed securities 1,295.3 98.3 (5.8) (1) 1,387.8
Other asset-backed securities 437.0 20.6 (3.8) (1) 453.8
Redeemable preferred securities 164.2 12.6 (14.5) 162.3
Total debt securities 15,894.8 1,552.5 (94.0) 17,353.3
Equity securities 40.3 5.0 (7.8) 37.5
Total debt and equity securities (2) $ 15,935.1 $ 1,557.5 $ (101.8) $ 17,390.8
(1) At December 31, 2012 and 2011, we held securities for which we previously recognized $25.2 million and $27.6 million, respectively, of
non-credit related impairments in accumulated other comprehensive loss. These securities had a net unrealized capital gain at
December 31, 2012 and 2011 of $9.6 million and $7.4 million, respectively.
(2) Investment risks associated with our experience-rated and discontinued products generally do not impact our operating results (refer to
Note 20 beginning on page 131 for additional information on our accounting for discontinued products). At December 31, 2012, debt
and equity securities with a fair value of approximately $4.0 billion, gross unrealized capital gains of $559.4 million and gross
unrealized capital losses of $19.4 million and, at December 31, 2011, debt and equity securities with a fair value of approximately $4.0
billion, gross unrealized capital gains of $505.6 million and gross unrealized capital losses of $48.2 million were included in total debt
and equity securities, but support our experience-rated and discontinued products. Changes in net unrealized capital gains (losses) on
these securities are not reflected in accumulated other comprehensive income.