Travelers 2015 Annual Report Download - page 194

THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
3. INVESTMENTS (Continued)
Impairment Charges
Impairment charges included in net realized investment gains in the consolidated statement of
income were as follows:
(for the year ended December 31, in millions) 2015 2014 2013
Fixed maturities
U.S. Treasury securities and obligations of U.S. government and government
agencies and authorities ......................................... $— $— $—
Obligations of states, municipalities and political subdivisions ................ ———
Debt securities issued by foreign governments ........................... ———
Mortgage-backed securities, collateralized mortgage obligations and pass-through
securities .................................................... —12
All other corporate bonds ......................................... 13 15 3
Redeemable preferred stock ........................................ ———
Total fixed maturities ........................................... 13 16 5
Equity securities
Public common stock ............................................. 37 95
Non-redeemable preferred stock .................................... ———
Total equity securities ........................................... 37 95
Other investments ................................................ 215
Total ....................................................... $52 $26 $15
The following tables present the cumulative amount of and the changes during the reporting
period in the credit losses of other-than-temporary impairments (OTTI) on fixed maturities recognized
in the consolidated statement of income for which a portion of the OTTI was recognized in other
comprehensive income:
Cumulative Additions for Additions for Adjustments to
OTTI Credit OTTI Securities OTTI Securities Reductions Book Value Cumulative OTTI
Losses Where No Where Credit Due to of Credit- Credit Losses
Recognized for Credit Losses Losses Have Sales/Defaults Impaired Recognized for
Securities Held, Were Been of Credit- Securities due Securities Still
Year ended December 31, 2015 Beginning of Previously Previously Impaired to Changes in Held, End of
(in millions) Period Recognized Recognized Securities Cash Flows Period
Fixed maturities
Mortgage-backed securities, collateralized
mortgage obligations and pass-through
securities .................... $40 $— $— $ (6) $(2) $32
All other corporate bonds ........... 59 2 — (4) (6) 51
Total fixed maturities ............. $99 $ 2 $— $(10) $(8) $83
194