Allstate 2015 Annual Report Download - page 151

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The Allstate Corporation 2015 Annual Report 145
The following table summarizes the fair value and gross unrealized losses of fixed income securities by type and
investment grade classification as of December 31, 2015.
($ in millions) Investment grade
Below
investment grade Total
Fair
value
Gross
unrealized
losses
Fair
value
Gross
unrealized
losses
Fair
value
Gross
unrealized
losses
U.S. government and agencies $ 1,874 $ (4) $ — $ — $ 1,874 $ (4)
Municipal 802 (6) 44 (14) 846 (20)
Corporate:
Energy 2,320 (188) 676 (157) 2,996 (345)
Consumer goods
(cyclical and non‑cyclical) 4,028 (43) 1,657 (76) 5,685 (119)
Basic industry 768 (47) 347 (56) 1,115 (103)
Utilities 1,004 (30) 257 (34) 1,261 (64)
Technology 989 (23) 500 (34) 1,489 (57)
Communications 702 (11) 859 (46) 1,561 (57)
Capital goods 1,065 (26) 562 (20) 1,627 (46)
Banking 1,528 (34) 43 (8) 1,571 (42)
Transportation 520 (22) 71 (5) 591 (27)
Financial services 735 (7) 265 (9) 1,000 (16)
Other 43 (3) — — 43 (3)
Total corporate fixed
income portfolio 13,702 (434) 5,237 (445) 18,939 (879)
Foreign government 42 — 2 — 44 —
ABS 1,984 (22) 73 (21) 2,057 (43)
RMBS 72 (1) 122 (9) 194 (10)
CMBS 17 — 60 (4) 77 (4)
Total fixed income securities $ 18,493 $ (467) $ 5,538 $ (493) $ 24,031 $ (960)
The following table summarizes the fair value and gross unrealized losses for below investment grade corporate fixed
income securities by sector and credit rating as of December 31, 2015.
($ in millions) Less than 12 months
Ba B Caa or lower Total
Fair
value
Gross
unrealized
losses
Fair
value
Gross
unrealized
losses
Fair
value
Gross
unrealized
losses
Fair
value
Gross
unrealized
losses
Corporate:
Energy $ 426 $ (72) $ 148 $ (49) $ 3 $ (1) $ 577 $ (122)
Consumer goods
(cyclical and
non‑cyclical) 793 (25) 749 (29) 25 (6) 1,567 (60)
Basic industry 277 (46) 35 (1) 14 (2) 326 (49)
Utilities 95 (10) 123 (18) 17 (1) 235 (29)
Technology 273 (11) 131 (5) 21 (4) 425 (20)
Communications 467 (21) 344 (17) 28 (3) 839 (41)
Capital goods 325 (5) 202 (10) 22 (2) 549 (17)
Banking 5 — — — — — 5 —
Transportation 21 (1) 50 (4) — — 71 (5)
Financial services 240 (6) 10 — 11 (2) 261 (8)
Subtotal $ 2,922 $ (197) $ 1,792 $ (133) $ 141 $ (21) $ 4,855 $ (351)