AIG 2014 Annual Report Download - page 269

ITEM 8 / NOTE 6. INVESTMENTS
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Contractual Maturities of Fixed Maturity Securities Available for Sale
The following table presents the amortized cost and fair value of fixed maturity securities available for sale by
contractual maturity:
Total Fixed Maturity Securities Fixed Maturity Securities Available
December 31, 2014 Available for Sale for Sale in a Loss Position
(in millions) Amortized Cost Fair Value Amortized Cost Fair Value
Due in one year or less $9,821 $9,975 $ 637 $620
Due after one year through five years 48,352 50,873 6,669 6,529
Due after five years through ten years 62,685 65,889 12,873 12,338
Due after ten years 63,168 69,442 10,255 9,607
Mortgage-backed, asset-backed and collateralized 59,281 63,680 17,120 16,641
Tota l $243,307 $259,859 $ 47,554 $45,735
Actual maturities may differ from contractual maturities because certain borrowers have the right to call or prepay certain
obligations with or without call or prepayment penalties.
The following table presents the gross realized gains and gross realized losses from sales or maturities of our
available for sale securities:
Years Ended December 31,
2014 2013 2012
Gross Gross Gross Gross Gross Gross
Realized Realized Realized Realized Realized Realized
(in millions) Gains Losses Gains Losses Gains Losses
Fixed maturity securities $703 $118 $ 2,634 $ 202 $ 2,778 $ 171
Equity securities 135 24 130 19 515 31
Tota l $838 $142 $ 2,764 $ 221 $ 3,293 $ 202
For the years ended December 31, 2014, 2013 and 2012, the aggregate fair value of available for sale securities sold was
$25.3 billion, $35.9 billion and $40.3 billion, which resulted in net realized capital gains of $0.7 billion, $2.5 billion and $3.1
billion, respectively.
Other Securities Measured at Fair Value
The following table presents the fair value of other securities measured at fair value based on our election of the fair
value option:
December 31
,
2014 December 31
,
2013
Fai
r
Percent Fai
r
Percent
(in millions) Value of Total Value of Total
Fixed maturit
y
securities:
U.S.
g
overnment and
g
overnment s
p
onsored entities $5,498 27 % $ 5,723 24 %
Obli
g
ations of states, territories and
p
olitical subdivisions 122 1 121 1
Non-U.S.
g
overnments 2 - 2-
Cor
p
orate debt 719 3 1,169 5
Mort
g
a
g
e-backed, asset-backed and collateralized:
RMBS 2,094 10 2,263 10
CMBS 1,077 5 1,353 6
CDO/ABS and other collateralized(a) 10,200 49 11,985 51
Total mort
g
a
g
e-backed
,
asset-backed and collateralized 13
,
371 64 15
,
601 67
Othe
r
- - 7-
Total fixed maturit
y
securities 19
,
712 95 22
,
623 97
E
q
uit
y
securities 1
,
049 5834 3
Tota l $20
,
761 100 %
$
23
,
457 100 %
(a) Includes $0.9 billion and $1.0 billion of U.S. Government agency backed ABS at December 31, 2014 and 2013, respectively.