Realized and Unrealized Investment Gains and Losses |
Realized and Unrealized Investment Gains and Losses Realized and unrealized investment gains and losses are as follows: | | | | | | | | | | | | | (In thousands) | 2013 | | 2012 | | 2011 | Realized investment gains and losses: | |
| | |
| | |
| Fixed maturity securities: | |
| | |
| | |
| Gains | $ | 48,860 |
| | $ | 34,295 |
| | $ | 37,595 |
| Losses | (14,670 | ) | | (6,436 | ) | | (5,499 | ) | Equity securities available for sale | 70,235 |
| | 97,300 |
| | 90,023 |
| Investment funds | 10,976 |
| | 74,777 |
| | 3,762 |
| Other gains | 12,185 |
| | 1,515 |
| | — |
| Net realized gains on investments sales | 127,586 |
| | 201,451 |
| | 125,881 |
| | | | | | | Net other-than-temporary impairments: | | | | | | Other-than-temporary impairments | (6,042 | ) | | (4,984 | ) | | (400 | ) | Decrease in valuation allowance | — |
| | 13,998 |
| | — |
| Net other-than-temporary impairments | (6,042 | ) | | 9,014 |
| | (400 | ) | | | | | | | Total net investment gains | 121,544 |
| | 210,465 |
| | 125,481 |
| Income tax expense | (47,426 | ) | | (73,663 | ) | | (43,834 | ) | | $ | 74,118 |
| | $ | 136,802 |
| | $ | 81,647 |
|
| | | | | | | | | | | | | Change in unrealized gains and losses of available for sales securities: | |
| | |
| | |
| Fixed maturity securities | $ | (401,812 | ) | | $ | 162,220 |
| | $ | 209,467 |
| Previously impaired fixed maturity securities | 1,076 |
| | 4,631 |
| | (3,604 | ) | Equity securities available for sale | 11,864 |
| | (33,199 | ) | | (55,772 | ) | Investment funds | (10,250 | ) | | 1,630 |
| | (2,093 | ) | Total change in unrealized gains | (399,122 | ) | | 135,282 |
| | 147,998 |
| Income tax expense | 138,058 |
| | (47,966 | ) | | (52,381 | ) | Noncontrolling interests | (28 | ) | | (77 | ) | | 55 |
| | $ | (261,092 | ) | | $ | 87,239 |
| | $ | 95,672 |
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