Investment gains/losses for each of the three years ending December 31, 2019 are summarized below (in millions).

	2019			2018			2017
Equity securities:
Unrealized investment gains/losses on securities held at the end of the period	$	69,581		$	(22,729	)	$	—
Investment gains/losses during the year on securities sold		1,585			291			—
Gross realized gains		—			—			2,237
Gross realized losses		—			—			(919	)
		71,166			(22,438	)		1,318
Fixed maturity securities:
Gross realized gains		87			480			103
Gross realized losses		(25	)		(227	)		(22	)
Other		(105	)		30			11
	$	71,123		$	(22,155	)	$	1,410

Prior to 2018, we recognized investment gains and losses in earnings when we sold or otherwise disposed of equity securities based on the difference between the proceeds from the sale and the cost of the securities and also when we recognized other-than-temporary impairment losses. Beginning in 2018, investment gains and losses included in earnings also include unrealized gains and losses from changes in fair values during the period on equity securities we still own. Prior to 2018, we recorded the changes in unrealized gains and losses on our investments in equity securities in other comprehensive income.

As reflected in the Consolidated Statements of Cash Flows, we received proceeds of approximately $14.3 billion in 2019 and $18.8 billion in 2018 from sales of equity securities. In the preceding table, investment gains/losses on equity securities sold during 2019 and 2018 reflect the difference between proceeds from sales and the fair value of the equity security sold at the beginning of the period or the purchase date, if later. Our taxable gains on equity securities sold during the year, which are generally the difference between the proceeds from sales and our original cost, were $3.2 billion in 2019 and $3.3 billion in 2018.