Aetna 2013 Annual Report Download - page 110

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Annual Report- Page 104
The maturity dates for debt securities in an unrealized capital loss position at December 31, 2013 were as follows:
Supporting discontinued
and experience-rated products Supporting remaining
products Total
(Millions) Fair
Value Unrealized
Losses Fair
Value Unrealized
Losses Fair
Value Unrealized
Losses
Due to mature:
Less than one year $ — $ — $ 25.7 $ .2 $ 25.7 $ .2
One year through five years 76.1 1.0 1,150.4 13.4 1,226.5 14.4
After five years through ten years 424.2 18.3 2,288.8 83.8 2,713.0 102.1
Greater than ten years 488.3 36.3 1,365.4 95.9 1,853.7 132.2
Residential mortgage-backed securities 16.9 .3 559.2 20.8 576.1 21.1
Commercial mortgage-backed securities 8.7 .4 178.7 4.3 187.4 4.7
Other asset-backed securities 13.9 .4 81.6 1.7 95.5 2.1
Total $ 1,028.1 $ 56.7 $ 5,649.8 $ 220.1 $ 6,677.9 $ 276.8
Net realized capital (losses) gains for the three years ended December 31, 2013, 2012 and 2011, excluding amounts
related to experience-rated contract holders and discontinued products, were as follows:
(Millions) 2013 2012 2011
OTTI losses on debt securities $ (36.6) $ (10.9) $ (10.2)
Portion of OTTI losses on debt securities recognized
in other comprehensive income —.1 —
Net OTTI losses on debt securities recognized in earnings (36.6) (10.8) (10.2)
Net realized capital gains, excluding OTTI losses on debt securities 27.8 119.5 178.1
Net realized capital (losses) gains $ (8.8) $ 108.7 $ 167.9
The net realized capital losses in 2013 were primarily attributable to yield-related OTTI on debt securities,
primarily on U.S. Treasury securities that we had the intent to sell, partially offset by gains from the sales of debt
securities. The net realized capital gains in 2012 and 2011 were primarily attributable to the sale of debt securities
partially offset by losses on derivative transactions.
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. In 2013, we
recognized yield-related OTTI losses of $33 million related to our debt securities. Yield-related OTTI losses were
not significant in 2012 or 2011. We had no other individually material realized capital losses on debt or equity
securities that impacted our operating results during 2013, 2012 or 2011.
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 2013, 2012 and 2011 were as follows:
(Millions) 2013 2012 2011
Proceeds on sales $ 6,524.8 $ 5,819.2 $ 6,278.3
Gross realized capital gains 113.9 171.7 265.3
Gross realized capital losses 100.0 17.4 38.5