Aetna 2013 Annual Report Download - page 112

Download and view the complete annual report

Please find page 112 of the 2013 Aetna annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 156

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156

Annual Report- Page 106
2012, respectively. The hedge fund partnership had total assets of approximately $7.0 billion at both December 31,
2013 and 2012.
Non-controlling (Minority) Interests
At December 31, 2013 and 2012, continuing business non-controlling interests were approximately $53 million and
$23 million, respectively, primarily related to third party interests in our investment holdings as well as third party
interests in certain of our operating entities. The non-controlling entities’ share was included in total equity. In
2013, net loss attributable to non-controlling interests was $1.7 million. Net income attributable to non-controlling
interests was $1.9 million and $1.2 million for 2012 and 2011, respectively. These non-controlling interests did not
have a material impact on our financial position or operating results.
Net Investment Income
Sources of net investment income for 2013, 2012 and 2011 were as follows:
(Millions) 2013 2012 2011
Debt securities $ 768.5 $ 763.7 $ 829.2
Mortgage loans 99.4 122.4 102.8
Other investments 86.1 70.7 32.2
Gross investment income 954.0 956.8 964.2
Less: investment expenses (37.7) (34.6) (31.0)
Net investment income (1) $ 916.3 $ 922.2 $ 933.2
(1) Net investment income includes $293.5 million, $324.2 million and $318.7 million for 2013, 2012 and 2011, respectively, related to
investments supporting our experience-rated and discontinued products.
9. Other Comprehensive (Loss) Income
Shareholders’ equity included the following activity in accumulated other comprehensive loss in 2013, 2012 and
2011:
Net Unrealized Gains (Losses) Total
Accumulated
Other
Comprehensive
(Loss) Income
Securities Foreign
Currency
and
Derivatives Pension and
OPEB Plans(Millions) Previously
Impaired (1) All Other
Balance at December 31, 2010 $ 75.1 $ 375.2 $ (27.3) $ (1,585.6) $ (1,162.6)
Other comprehensive (loss) income (16.9) 220.0 (6.4) (223.3) (26.6)
Balance at December 31, 2011 58.2 595.2 (33.7) (1,808.9) (1,189.2)
Other comprehensive (loss) income (.9) 230.0 4.2 (77.5) 155.8
Balance at December 31, 2012 57.3 825.2 (29.5) (1,886.4) (1,033.4)
Other comprehensive (loss) income
before reclassifications (47.2) (522.1) 26.4 565.1 22.2
Amounts reclassified from accumulated
other comprehensive income 24.1 (2) 23.7 (2) 3.5 (3) 47.8 (4) 99.1
Other comprehensive (loss) income (23.1) (498.4) 29.9 612.9 121.3
Balance at December 31, 2013 $ 34.2 $ 326.8 $ .4 $ (1,273.5) $ (912.1)
(1) Represents unrealized gains on the non-credit related component of impaired debt securities that we do not intend to sell and subsequent
changes in the fair value of any previously impaired security.
(2) Reclassifications out of accumulated other comprehensive income for previously impaired debt securities and all other securities are
reflected in net realized capital gains (losses) within the Consolidated Statements of Income.
(3) Reclassifications out of accumulated other comprehensive income for foreign currency gains (losses) and derivatives are reflected in net
realized capital gains (losses) within the Consolidated Statements of Income, except for derivatives related to interest rate swaps which
are reflected in interest expense and were not material during 2013.
(4) Reclassifications out of accumulated other comprehensive income for pension and OPEB plan expenses are reflected in general and
administrative expenses within the Consolidated Statements of Income (Refer to Note 11 beginning on page 114 for additional
information).