Investment gains/losses and other-than-temporary impairment losses on investments (Tables)

9 Months Ended

Sep. 30, 2012

Investment gains/losses and other-than-temporary impairment losses on investments

Investment gains/losses are summarized below (in millions).


	Third Quarter						First Nine Months
	2012			2011			2012			2011
Fixed maturity securities —
Gross gains from sales and other disposals	$	77		$	31		$	168		$	207
Gross losses from sales and other disposals		—			(1	)		(345	)		(5	)
Equity securities —
Gross gains from sales and other disposals		645			40			1,218			1,308
Gross losses from sales and other disposals		(4	)		(5	)		(11	)		(19	)
Other		199			35			243			(3	)

	$	917		$	100		$	1,273		$	1,488

Investment gains/losses are reflected in the Consolidated Statements of Earnings as follows.


	Third Quarter				First Nine Months
	2012		2011		2012		2011
Insurance and other	$	725	$	100	$	1,057	$	1,314
Finance and financial products		192		—		216		174

	$	917	$	100	$	1,273	$	1,488

During the first nine months of 2011, we realized an investment gain of $1.25 billion from the redemption of our investment in GS Preferred.

Other-than-temporary impairment (“OTTI”) losses were as follows (in millions).


	Third Quarter				First Nine Months
	2012		2011		2012		2011
Equity securities	$	—	$	—	$	—	$	506
Fixed maturity securities		—		8		337		8

	$	—	$	8	$	337	$	514

- Definition

Tabular disclosure of the realized and unrealized gains and losses reported in the statement of income which have resulted from the sale and holding of marketable securities, respectively, as well as the sale or disposal of cost method investments. Such amounts would include realized gains and losses on the sale or disposal of trading, available-for-sale, and held-to-maturity securities, unrealized gains and losses on trading securities, unrealized gains and losses on available-for-sale and held-to-maturity securities transferred to the trading securities category, realized gains and losses on the sale or disposal of cost method investments, and losses recognized for other than temporary impairments (OTTI) of such investments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 115

-Paragraph 7, 13, 16, 22

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

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Reference 4: http://www.xbrl.org/2003/role/presentationRef

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Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 115

-Paragraph 12

-Subparagraph a, b

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

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Reference 9: http://www.xbrl.org/2003/role/presentationRef

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+ Details