Allstate 2012 Annual Report Download - page 214
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the prior period and a fair value quote became available from the Company’s independent third-party valuation service
provider in the current period. A quote utilizing the new pricing source was not available as of the prior period, and any
gains or losses related to the change in valuation source for individual securities were not significant.
The following table provides the total gains and (losses) included in net income for Level 3 assets and liabilities still
held as of December 31.
2011 2010
($ in millions)
Assets
Fixed income securities:
Municipal $ (28) $ (33)
Corporate 20 40
RMBS — (292)
CMBS (11) (28)
ABS (33) 60
Total fixed income securities (52) (253)
Equity securities (10) (3)
Other investments:
Free-standing derivatives, net (41) (61)
Other assets — (1)
Total recurring Level 3 assets $ (103) $ (318)
Liabilities
Contractholder funds:
Derivatives embedded in life and annuity
contracts $ (134) $ (31)
Total recurring Level 3 liabilities $ (134) $ (31)
The amounts in the table above represent gains and losses included in net income during 2011 and 2010 for the
period of time that the asset or liability was determined to be in Level 3. These gains and losses total $(237) million in
2011 and are reported as follows: $(147) million in realized capital gains and losses, $44 million in net investment
income, $(102) million in interest credited to contractholder funds and $(32) million in life and annuity contract
benefits. These gains and losses total $(349) million in 2010 and are reported as follows: $(402) million in realized
capital gains and losses, $86 million in net investment income, $(2) million in interest credited to contractholder funds
and $(31) million in life and annuity contract benefits.
128