Progressive 2013 Annual Report Download - page 16

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Net Realized Gains (Losses) The components of net realized gains (losses) for the years ended December 31, were:
(millions) 2013 2012 2011
Gross realized gains on security sales
Fixed maturities:
U.S. government obligations $ 8.5 $ 20.2 $ 59.1
State and local government obligations 7.7 15.0 3.5
Corporate and other debt securities 47.7 58.1 23.0
Residential mortgage-backed securities 3.0 1.2 2.0
Commercial mortgage-backed securities 10.0 19.3 .3
Other asset-backed securities 0 .9 2.1
Redeemable preferred stocks 0 .7 4.6
Total fixed maturities 76.9 115.4 94.6
Equity securities:
Nonredeemable preferred stocks 126.3 78.2 148.9
Common equities 68.6 167.0 11.6
Subtotal gross realized gains on security sales 271.8 360.6 255.1
Gross realized losses on security sales
Fixed maturities:
U.S. government obligations (3.7) (1.9) (9.3)
Corporate and other debt securities (6.2) (.6) (3.5)
Commercial mortgage-backed securities (1.8) 0 0
Redeemable preferred stocks (.1) (.4) (2.2)
Total fixed maturities (11.8) (2.9) (15.0)
Equity securities:
Nonredeemable preferred stocks (.1) (1.1) 0
Common equities (.6) (27.1) (36.5)
Subtotal gross realized losses on security sales (12.5) (31.1) (51.5)
Net realized gains (losses) on security sales
Fixed maturities:
U.S. government obligations 4.8 18.3 49.8
State and local government obligations 7.7 15.0 3.5
Corporate and other debt securities 41.5 57.5 19.5
Residential mortgage-backed securities 3.0 1.2 2.0
Commercial mortgage-backed securities 8.2 19.3 .3
Other asset-backed securities 0 .9 2.1
Redeemable preferred stocks (.1) .3 2.4
Total fixed maturities 65.1 112.5 79.6
Equity securities:
Nonredeemable preferred stocks 126.2 77.1 148.9
Common equities 68.0 139.9 (24.9)
Subtotal net realized gains (losses) on security sales 259.3 329.5 203.6
Other-than-temporary impairment losses
Fixed maturities:
Residential mortgage-backed securities (.6) (1.6) (3.3)
Commercial mortgage-backed securities 0 (.1) (.6)
Total fixed maturities (.6) (1.7) (3.9)
Equity securities:
Common equities (5.5) (1.8) (.2)
Subtotal other-than-temporary impairment losses (6.1) (3.5) (4.1)
Other gains (losses)
Hybrid securities 6.4 14.3 1.7
Derivative instruments 56.6 (43.1) (98.9)
Litigation settlements 2.2 9.6 .3
Subtotal other gains (losses) 65.2 (19.2) (96.9)
Total net realized gains (losses) on securities $318.4 $306.8 $102.6
App.-A-16