Allstate 2012 Annual Report Download - page 212
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The following table presents the rollforward of Level 3 assets and liabilities held at fair value on a recurring basis
during the year ended December 31, 2011.
($ in millions) Total realized and
unrealized gains (losses)
included in:
OCI on
Balance as of Statement of Transfers Transfers
December 31, Net Financial into out of
2010 income (1) Position Level 3 Level 3
Assets
Fixed income securities:
Municipal $ 2,016 $ (44) $ 54 $ 70 $ (82)
Corporate 1,908 62 (44) 239 (523)
RMBS 1,794 (86) 107 — (1,256)
CMBS 923 (43) 113 86 (966)
ABS 2,417 23 (65) — (2,137)
Redeemable preferred stock 1 ————
Total fixed income securities 9,059 (88) 165 395 (4,964)
Equity securities 63 (10) — — (10)
Other investments:
Free-standing derivatives, net (21) (91) — — —
Other assets 1 ————
Total recurring Level 3 assets $ 9,102 $ (189) $ 165 $ 395 $ (4,974)
Liabilities
Contractholder funds:
Derivatives embedded in life and
annuity contracts $ (653) $ (134) $ — $ — $ —
Total recurring Level 3 liabilities $ (653) $ (134) $ — $ — $ —
Balance as of
December 31,
Purchases Sales Issuances Settlements 2011
Assets
Fixed income securities:
Municipal $ 14 $ (689) $ — $ (7) $ 1,332
Corporate 387 (537) — (87) 1,405
RMBS 4 (378) — (134) 51
CMBS 17 (66) — (4) 60
ABS 504 (169) — (276) 297
Redeemable preferred stock ———— 1
Total fixed income securities 926 (1,839) — (508) 3,146
Equity securities 1 (1) — — 43
Other investments:
Free-standing derivatives, net 70 — — (53) (95) (2)
Other assets ———— 1
Total recurring Level 3 assets $ 997 $ (1,840) $ — $ (561) $ 3,095
Liabilities
Contractholder funds:
Derivatives embedded in life and
annuity contracts $ — $ — $ (100) $ 164 $ (723)
Total recurring Level 3 liabilities $ — $ — $ (100) $ 164 $ (723)
(1) The effect to net income totals $(323) million and is reported in the Consolidated Statements of Operations as follows: $(221) million in realized
capital gains and losses, $36 million in net investment income, $(106) million in interest credited to contractholder funds and $(32) million in life
and annuity contract benefits.
(2) Comprises $1 million of assets and $96 million of liabilities.
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