Aetna 2014 Annual Report Download - page 103
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Annual Report- Page 97
Summarized below are the debt and equity securities we held at December 31, 2014 and 2013 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, 2014
Debt securities:
U.S. government securities $ 20.6 $ .1 $ 19.8 $ .5 $ 40.4 $ .6
States, municipalities and political subdivisions 457.4 2.2 347.4 5.6 804.8 7.8
U.S. corporate securities 1,074.1 19.9 515.2 13.7 1,589.3 33.6
Foreign securities 540.0 12.8 148.0 5.5 688.0 18.3
Residential mortgage-backed securities 3.9 .1 166.9 3.8 170.8 3.9
Commercial mortgage-backed securities 181.5 .7 69.0 .9 250.5 1.6
Other asset-backed securities 373.1 6.1 21.3 .4 394.4 6.5
Redeemable preferred securities 3.0 — — — 3.0 —
Total debt securities 2,653.6 41.9 1,287.6 30.4 3,941.2 72.3
Equity securities 8.0 — 1.4 3.8 9.4 3.8
Total debt and equity securities (1) $ 2,661.6 $ 41.9 $ 1,289.0 $ 34.2 $ 3,950.6 $ 76.1
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
(1) At December 31, 2014 and 2013, debt and equity securities in an unrealized capital loss position of $16.7 million and $60.3 million,
respectively, and with related fair value of $402.7 million and $1.0 billion, 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, 2014, 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 amortized cost
basis.