Discover 2015 Annual Report Download - page 117
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-101-
The following table provides information about investment securities with aggregate gross unrealized losses and
the length of time that individual investment securities have been in a continuous unrealized loss position (dollars in
millions):
Number of
Securities in a
Loss Position
Less than 12 months More than 12 months
Fair
Value Unrealized
Losses Fair
Value Unrealized
Losses
December 31, 2015
Available-for-Sale Investment Securities
U.S. Treasury securities ................................................... 1 $ 670 $ (6) $ — $ —
Residential mortgage-backed securities - Agency .............. 15 $ 486 $ (4) $ — $ —
December 31, 2014
Available-for-Sale Investment Securities
Residential mortgage-backed securities - Agency .............. 8 $ 97 $ — $ 225 $ (1)
There were no losses related to other-than-temporary impairments during the years ended December 31, 2015,
2014 and 2013.
The following table provides information about proceeds from sales, recognized gains and losses and net
unrealized gains and losses on available-for-sale securities (dollars in millions):
For the Years Ended December 31,
2015 2014 2013
Proceeds from the sales of available-for-sale investment securities ............................................. $ 899 $ 1,220 $ 719
Gains on sales of available-for-sale investment securities ......................................................... $ 8 $ 4 $ 2
Net unrealized (losses) gains recorded in other comprehensive income, before tax ..................... $(37) $ 5 $ (82)
Net unrealized (losses) gains recorded in other comprehensive income, after-tax ....................... $(23) $ 4 $ (52)