Progressive 2014 Annual Report Download - page 66

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Other-Than-Temporary Impairment (OTTI)
Realized losses may include write-downs of securities determined to have had an other-than-temporary decline in fair value.
The write-down activity recorded in the comprehensive income statements for the years ended December 31, was as
follows:
(millions)
Total
Write-
downs
Write-downs
on Securities
Sold
Write-downs
on Securities
Held at
Period End
2014
Prime collateralized mortgage obligations $ 0 $ 0 $ 0
Alt-A collateralized mortgage obligations 0 0 0
Home equity (sub-prime bonds) 0 0 0
Total residential mortgage-backed securities 0 0 0
Commercial mortgage-backed securities: interest only 0 0 0
Total fixed income 0 0 0
Common equities 7.9 (0.7) 7.2
Total portfolio $7.9 $(0.7) $7.2
2013
Prime collateralized mortgage obligations $0.1 $ 0 $0.1
Alt-A collateralized mortgage obligations 0 0 0
Home equity (sub-prime bonds) 0.5 0 0.5
Total residential mortgage-backed securities 0.6 0 0.6
Commercial mortgage-backed securities: interest only 0 0 0
Total fixed income 0.6 0 0.6
Common equities 5.5 0 5.5
Total portfolio $6.1 $ 0 $6.1
2012
Prime collateralized mortgage obligations $0.7 $ 0 $0.7
Alt-A collateralized mortgage obligations 0.1 0 0.1
Home equity (sub-prime bonds) 0.8 0 0.8
Total residential mortgage-backed securities 1.6 0 1.6
Commercial mortgage-backed securities: interest only 0.1 0 0.1
Total fixed income 1.7 0 1.7
Common equities 6.3 (4.5) 1.8
Total portfolio $8.0 $(4.5) $3.5
See Critical Accounting Policies, Other-Than-Temporary Impairment, for a complete discussion on our analysis regarding
our treatment of OTTI.
App.-A-65