Aetna 2013 Annual Report Download - page 109

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Annual Report- Page 103
Summarized below are the debt and equity securities we held at December 31, 2013 and 2012 that were in an
unrealized capital loss position, aggregated by the length of time the investments have been in that position:
Less than 12 months Greater than 12 months Total (1)
(Millions) Fair
Value Unrealized
Losses Fair
Value Unrealized
Losses Fair
Value Unrealized
Losses
December 31, 2013
Debt securities:
U.S. government securities $ 555.9 $ 2.7 $ 13.4 $ .3 $ 569.3 $ 3.0
States, municipalities and political subdivisions 1,779.9 73.1 132.4 9.7 1,912.3 82.8
U.S. corporate securities 2,196.8 88.0 170.0 22.1 2,366.8 110.1
Foreign securities 875.2 43.5 90.9 9.5 966.1 53.0
Residential mortgage-backed securities 541.1 17.3 35.0 3.8 576.1 21.1
Commercial mortgage-backed securities 162.4 4.2 25.0 .5 187.4 4.7
Other asset-backed securities 87.8 1.9 7.7 .2 95.5 2.1
Redeemable preferred securities 4.4 — — — 4.4 —
Total debt securities 6,203.5 230.7 474.4 46.1 6,677.9 276.8
Equity securities — — 16.2 3.7 16.2 3.7
Total debt and equity securities (1) $ 6,203.5 $ 230.7 $ 490.6 $ 49.8 $ 6,694.1 $ 280.5
December 31, 2012
Debt securities:
U.S. government securities $ 138.3 $ 1.4 $ 15.1 $ .4 $ 153.4 $ 1.8
States, municipalities and political subdivisions 264.6 3.0 28.5 1.3 293.1 4.3
U.S. corporate securities 598.4 6.1 10.8 1.2 609.2 7.3
Foreign securities 270.4 1.4 35.6 7.4 306.0 8.8
Residential mortgage-backed securities 51.7 .3 2.1 .1 53.8 .4
Commercial mortgage-backed securities 6.3 .1 46.1 1.7 52.4 1.8
Other asset-backed securities 44.8 .1 1.5 3.5 46.3 3.6
Redeemable preferred securities 12.2 .2 10.0 7.1 22.2 7.3
Total debt securities 1,386.7 12.6 149.7 22.7 1,536.4 35.3
Equity securities 16.4 2.1 13.0 1.0 29.4 3.1
Total debt and equity securities (1) $ 1,403.1 $ 14.7 $ 162.7 $ 23.7 $ 1,565.8 $ 38.4
(1) At December 31, 2013 and 2012, debt and equity securities in an unrealized capital loss position of $60.3 million and $19.4 million,
respectively, and with related fair value of $1.0 billion and $225.2 million, respectively, related to experience-rated and discontinued
products.
We reviewed the securities in the tables above and concluded that these are performing assets generating investment
income to support the needs of our business. In performing this review, we considered factors such as the quality of
the investment security based on research performed by our internal credit analysts and external rating agencies and
the prospects of realizing the carrying value of the security based on the investment’s current prospects for recovery.
At December 31, 2013, we did not intend to sell these securities, and we did not believe it was more likely than not
that we would be required to sell these securities prior to anticipated recovery of their carrying value.