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ASSURANT, INC.2012 Form10-KF-24
5 Fair Value Disclosures
ere were no transfers between Level 1 and Level 2  nancial assets
during the period. However, there were transfers between Level 2 and
Level 3  nancial assets during the period, which are re ected in the
“Transfers in” and “Transfers out” columns below. Transfers between
Level 2 and Level 3 most commonly occur when market observable
inputs that were previously available become unavailable in the current
period.  e remaining unpriced securities are submitted to independent
brokers who provide non-binding broker quotes or are priced by other
quali ed sources.
e following tables summarize the change in balance sheet carrying value associated with Level 3  nancial assets and liabilities carried at fair
value during the years ended December31, 2012 and 2011:
Year Ended December31, 2012
Balance,
beginning
of period
Total (losses)
gains
(realized/
unrealized)
included in
earnings
Net
unrealized
gains (losses)
included in
stockholders’
equity Purchases Sales Transfers
in (1) Transfers
out (1)
Balance,
end of
period
Fixed Maturity Securities
United States Government and
government agencies andauthorities $ 4,400 $ (3) $ (10) $ 0 $ (212) $ 0 $ 0 $ 4,175
Foreign governments 22,713 79 987 0 (682) 0 0 23,097
Asset-backed 453 0 0 0 0 0 (453) 0
Commercial mortgage-backed 904 54 (26) 0 (2,053) 2,895 0 1,774
Residential mortgage-backed 1,867 (17) 331 1,930 (1,098) 7,065 (1,867) 8,211
Corporate 137,629 2,040 11,810 8,942 (19,667) 18,701 (1,452) 158,003
Equity Securities
Non-redeemable preferred stocks 13 0 12 0 0 4 (15) 14
Other investments 18,257 1 839 0 (8,631) 1,488 (627) 11,327
Other assets 8,521 (2,635) 0 0 0 0 0 5,886
Financial Liabilities
Other liabilities (2,720) 160 0 0 0 0 0 (2,560)
TOTAL LEVEL 3 ASSETS
ANDLIABILITIES $ 192,037 $ 321 $ 13,943 $ 10,872 $ 32,343 $ 30,153 $ 4,414 $ 209,927
Year Ended December31, 2011
Balance,
beginning
of period
Total gains
(losses)
(realized/
unrealized)
included in
earnings
Net
unrealized
gains (losses)
included in
stockholders’
equity Purchases Sales Transfers
in (1) Transfers
out (1)
Balance,
end of
period
Fixed Maturity Securities
United States Government and
government agencies and authorities $ 14,506 $ (249) $ (55) $ 3,980 $ (2,099) $ 0 $ (11,683) $ 4,400
Foreign governments 25,621 (4) 1,216 0 0 0 (4,120) 22,713
Asset-backed 0 0 (25) 0 (28) 506 0 453
Commercial mortgage-backed 4,542 0 10 0 (146) 0 (3,502) 904
Residential mortgage-backed 0 4 34 1,886 (57) 0 0 1,867
Corporate 125,685 (3,165) 4,161 29,704 (26,856) 24,976 (16,876) 137,629
Equity Securities
Non-redeemable preferred stocks 558 (28) 58 0 (574) 6 (7) 13
Other investments 8,309 6,399 (63) 12,171 (12,398) 3,839 0 18,257
Other assets 9,825 (1,304) 0 0 0 0 0 8,521
Financial Liabilities
Other liabilities 0 (45) 0 (2,675) 0 0 0 (2,720)
TOTAL LEVEL 3 ASSETS
ANDLIABILITIES $ 189,046 $ 1,608 $ 5,336 $ 45,066 $ 42,158 $ 29,327 $ 36,188 $ 192,037
(1) Transfers are primarily attributable to changes in the availability of observable market information and re-evaluation of the observability of pricing inputs.