Voya 2013 Annual Report Download - page 294

ING U.S., Inc. Notes to the Consolidated Financial Statements (Dollar amounts in millions, unless otherwise stated) The following table summarizes the change in fair value of the Company’s Level 3 assets and liabilities and transfers in and out of Level 3 for the year ended December 31, 2012:
Fair Value
as of
January 1
Total
Realized/Unrealized
Gains (Losses)
Included in:
Purchases Issuances Sales Settlements
Transfers
in to
Level 3(2)
Transfers
out of
Level 3(2)
Fair Value
as of
December 31
Change In
Unrealized
Gains
(Losses)
Included in
Earnings(3)
Net
Income OCI
Fixed maturities, including securities pledged:
U.S. Government agencies and authorities ......... $ — $ — $ — $— $ — $ — $ — $ — $ — $ — $— U.S. corporate, state and municipalities ........... 520.6 0.7 (7.8) 0.5 — (3.1) (93.1) 142.7 (36.3) 524.2 0.4
Foreign ..................................... 160.6 1.8 (12.4) — — (11.5) (28.8) 79.4 (84.9) 104.2 —
Residential mortgage-backed securities ........... 186.6 4.0 5.7 2.4 — (30.8) (1.2) 0.4 (93.0) 74.1 (3.6)
Other asset-backed securities .................... 104.5 15.6 4.3 — — (32.8) (3.2) 27.9 (1.1) 115.2 6.2
Total fixed maturities including securities pledged ..... 972.3 22.1 (10.2) 2.9 — (78.2) (126.3) 250.4 (215.3) 817.7 3.0
Equity securities, available-for-sale ................ 67.6 (0.5) (1.2) 5.0 — (8.3) — 2.4 (9.2) 55.8 (0.5)
Derivatives:
Product guarantees:
FIA(1) .................................... (1,304.9) (177.5) — — (94.5) — 142.6 — — (1,434.3) —
GMAB/GMWB/GMWBL(1) .................. (2,272.2) 390.3 — — (154.1) — 0.6 — — (2,035.4) —
Stabilizer and MCGs(1) ...................... (221.0) 124.5 — (5.5) — — — — — (102.0) —
Other derivatives, net .......................... (24.8) 4.2 — 23.9 — — 25.0 — (5.4) 22.9 (2.6)
Assets held in separate accounts(4) .................. 16.1 0.3 — 16.3 — (8.3) — — (8.1) 16.3 0.6
(1) All gains and losses on Level 3 liabilities are classified as realized gains (losses) for the purpose of this disclosure because it is impracticable to track realized and unrealized gains (losses)
separately on a contract-by contract basis. These amounts are included in Other net realized gains (losses) in the Consolidated Statements of Operations.
(2) The Company’s policy is to recognize transfers in and transfers out as of the beginning of the reporting period. (3) For financial instruments still held as of December 31, amounts are included in Net investment income and Total net realized capital gains (losses) in the Consolidated Statements of
Operations.
(4) The investment income and realized gains (losses) and change in unrealized gains (losses) included in net income for separate account assets are offset by an equal amount for separate
account liabilities, which result in a net zero impact on net income for the Company.
284