Note 4. Investments in fixed maturity securities

Investments in securities with fixed maturities as of June 30, 2014 and December 31, 2013 are summarized by type below (in millions).


	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value		Carrying Value
June 30, 2014
Available for sale:
U.S. Treasury, U.S. government corporations and agencies	$	2,819	$	16	$	(3	)	$	2,832	$	2,832
States, municipalities and political subdivisions		2,003		109		(1	)		2,111		2,111
Foreign governments		12,485		307		(40	)		12,752		12,752
Corporate bonds		7,923		1,268		(2	)		9,189		9,189
Mortgage-backed securities		1,656		224		(4	)		1,876		1,876

		26,886		1,924		(50	)		28,760		28,760
Held to maturity:
Wm. Wrigley Jr. Company notes		661		10		—			671		661

	$	27,547	$	1,934	$	(50	)	$	29,431	$	29,421

December 31, 2013
Available for sale:
U.S. Treasury, U.S. government corporations and agencies	$	2,650	$	16	$	(8	)	$	2,658	$	2,658
States, municipalities and political subdivisions		2,221		129		(5	)		2,345		2,345
Foreign governments		11,001		182		(110	)		11,073		11,073
Corporate bonds		9,383		1,190		(15	)		10,558		10,558
Mortgage-backed securities		1,830		218		(8	)		2,040		2,040

		27,085		1,735		(146	)		28,674		28,674
Held to maturity:
Wm. Wrigley Jr. Company notes		679		17		—			696		679

	$	27,764	$	1,752	$	(146	)	$	29,370	$	29,353

Investments in fixed maturity securities are reflected in our Consolidated Balance Sheets as follows (in millions).


	June 30, 2014		December 31, 2013
Insurance and other	$	29,175		$28,785
Finance and financial products		246		568

	$	29,421		$29,353

Investments in foreign government securities include securities issued by national and provincial government entities as well as instruments that are unconditionally guaranteed by such entities. As of June 30, 2014, approximately 92% of foreign government holdings were rated AA or higher by at least one of the major rating agencies and securities issued or guaranteed by the United Kingdom, Germany, Australia, Canada and The Netherlands represented 76% of these investments. Unrealized losses on all fixed maturity investments in a continuous unrealized loss position for more than twelve consecutive months were not significant.

The amortized cost and estimated fair value of securities with fixed maturities at June 30, 2014 are summarized below by contractual maturity dates. Actual maturities will differ from contractual maturities because issuers of certain of the securities retain early call or prepayment rights. Amounts are in millions.


	Due in one year or less		Due after one year through five years		Due after five years through ten years		Due after ten years		Mortgage- backed securities		Total
Amortized cost		$7,969		$12,639		$2,628		$2,655		$1,656		$27,547
Fair value		8,075		13,450		2,875		3,155		1,876		29,431