Note 4. Investments in fixed maturity securities

Investments in securities with fixed maturities as of September 30, 2016 and December 31, 2015 are summarized below (in millions).


	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
September 30, 2016
U.S. Treasury, U.S. government corporations and agencies	$	4,549	$	17	$	(1	)	$	4,565
States, municipalities and political subdivisions		1,216		64		(1	)		1,279
Foreign governments		9,454		362		(21	)		9,795
Corporate bonds		6,996		800		(7	)		7,789
Mortgage-backed securities		1,068		156		(5	)		1,219

	$	23,283	$	1,399	$	(35	)	$	24,647

December 31, 2015
U.S. Treasury, U.S. government corporations and agencies	$	3,425	$	10	$	(8	)	$	3,427
States, municipalities and political subdivisions		1,695		71		(2	)		1,764
Foreign governments		11,327		226		(85	)		11,468
Corporate bonds		7,323		632		(29	)		7,926
Mortgage-backed securities		1,279		168		(5	)		1,442

	$	25,049	$	1,107	$	(129	)	$	26,027

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


	September 30, 2016			December 31, 2015
Insurance and other		$	24,613		$	25,988
Finance and financial products			34			39

		$	24,647		$	26,027

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 September 30, 2016, approximately 92% of foreign government holdings were rated AA or higher by at least one of the major rating agencies. Approximately 80% of foreign government holdings were issued or guaranteed by the United Kingdom, Germany, Australia or Canada.

The amortized cost and estimated fair value of securities with fixed maturities at September 30, 2016 are summarized below by contractual maturity dates. Actual maturities may differ from contractual maturities due to early call or prepayment rights held by issuers (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		$8,007		$10,773		$1,076		$2,359		$1,068		$23,283
Fair value		8,068		11,224		1,177		2,959		1,219		24,647