The Hartford 2014 Annual Report Download - page 180

Table of Contents





(Before-tax)   
Fixed maturities [1] $ 2,420 $ 2,552 $ 3,299
Equity securities, AFS 38 30 36
Mortgage loans 265 260 334
Policy loans 80 83 119
Limited partnerships and other alternative investments 294 287 196
Other investments [2] 179 167 248
Investment expenses (122) (115) (105)
      
[1] Includes net investment income on short-term investments.
[2] Includes income from derivatives that hedge fixed maturities and qualify for hedge accounting.


(Before-tax)   
Gross gains on sales [1] $ 527 $ 2,313 $ 801
Gross losses on sales (250) (659) (420)
Net OTTI losses recognized in earnings [2] (59) (73) (349)
Valuation allowances on mortgage loans (4) (1) 14
Periodic net coupon settlements on credit derivatives 1 (8) (18)
Results of variable annuity hedge program
GMWB derivatives, net 5 262 519
Macro hedge program (11) (234) (340)
Total results of variable annuity hedge program (6) 28 179
Other, net [3] (193) 198 290
      
[1] Includes $1.5 billion of gains relating to the sales of the Retirement Plans and Individual Life businesses in the year ended December 31, 2013.
[2] Includes $177 of intent-to-sell impairments relating to the Retirement Plans and Individual Life businesses sold for the year ended December 31, 2012.
[3] Primarily consists of changes in the value of non-qualifying derivatives, including interest rate derivatives used to manage the risk of a rise in interest rates and manage
duration, transactional foreign currency revaluation gains (losses) on the Japan fixed payout annuity liabilities assumed from HLIKK and gains (losses) on non-qualifying
derivatives used to hedge the foreign currency exposure of the liabilities. For the years ended December 31, 2014, 2013, and 2012, gains (losses) from transactional foreign
currency revaluation of the Japan fixed payout annuity liabilities were $116, $250, and $189, respectively. For the years ended December 31, 2014, 2013, and 2012, gains
(losses) on instruments used to hedge the foreign currency exposure on the fixed payout annuities were $(148), $(268), and $(300), respectively. Also includes $71 and $110
of gains relating to the sales of the Retirement Plans and Individual Life businesses for the years ended December 31, 2013 and 2012, respectively.
Net realized capital gains and losses from investment sales are reported as a component of revenues and are determined on a specific identification basis.
Before tax, net gains and losses on sales and impairments previously reported as unrealized gains in AOCI were $217, $1.5 billion, and $32 for the years
ended December 31, 2014, 2013, and 2012, respectively.
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