XML 37 R24.htm IDEA: XBRL DOCUMENT v3.10.0.1
Investments (Tables)
9 Months Ended
Sep. 30, 2018
Investment [Line Items]  
Current and Long-Term Investments, Available-For-Sale
A summary of current and long-term fixed maturity securities, available-for-sale, at September 30, 2018 and December 31, 2017 is as follows:
 
 
 
 
 
 
 
 
 
Non-Credit
Component of
Other-Than-
Temporary
Impairments
Recognized in
Accumulated
Other
Comprehensive
Loss
 
Cost or
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross Unrealized Losses
 
Estimated
Fair Value
 
 
 
 
Less than
12 Months
 
12 Months
or Greater
 
 
September 30, 2018
 
 
 
 
 
 
 
 
 
 
 
Fixed maturity securities:
 
 
 
 
 
 
 
 
 
 
 
United States Government securities
$
634

 
$
1

 
$
(4
)
 
$
(6
)
 
$
625

 
$

Government sponsored securities
103

 

 
(1
)
 
(1
)
 
101

 

States, municipalities and political subdivisions, tax-exempt
4,944

 
66

 
(31
)
 
(15
)
 
4,964

 

Corporate securities
8,340

 
62

 
(98
)
 
(48
)
 
8,256

 
(2
)
Residential mortgage-backed securities
2,742

 
26

 
(23
)
 
(52
)
 
2,693

 

Commercial mortgage-backed securities
68

 

 

 
(2
)
 
66

 

Other securities
1,174

 
15

 
(3
)
 
(5
)
 
1,181

 

Total fixed maturity securities
$
18,005

 
$
170

 
$
(160
)
 
$
(129
)
 
$
17,886

 
$
(2
)
December 31, 2017
 
 
 
 
 
 
 
 
 
 
 
Fixed maturity securities:
 
 
 
 
 
 
 
 
 
 
 
United States Government securities
$
649

 
$
2

 
$
(5
)
 
$
(1
)
 
$
645

 
$

Government sponsored securities
90

 

 

 

 
90

 

States, municipalities and political subdivisions, tax-exempt
5,854

 
193

 
(5
)
 
(7
)
 
6,035

 

Corporate securities
7,363

 
166

 
(30
)
 
(13
)
 
7,486

 

Residential mortgage-backed securities
2,520

 
39

 
(8
)
 
(12
)
 
2,539

 

Commercial mortgage-backed securities
80

 
1

 

 
(2
)
 
79

 

Other securities
1,054

 
14

 
(3
)
 
(1
)
 
1,064

 

Total fixed maturity securities
$
17,610

 
$
415

 
$
(51
)
 
$
(36
)
 
$
17,938

 
$

Aggregate Fair Value and Gross Unrealized Loss of Fixed Maturity Securities in an Unrealized Loss Position
For fixed maturity securities in an unrealized loss position at September 30, 2018 and December 31, 2017, the following table summarizes the aggregate fair values and gross unrealized losses by length of time those securities have continuously been in an unrealized loss position: 
 
Less than 12 Months
 
12 Months or Greater
(Securities are whole amounts)
Number of
Securities
 
Estimated
Fair Value
 
Gross
Unrealized
Loss
 
Number of
Securities
 
Estimated
Fair Value
 
Gross
Unrealized
Loss
September 30, 2018
 
 
 
 
 
 
 
 
 
 
 
Fixed maturity securities:
 
 
 
 
 
 
 
 
 
 
 
United States Government securities
45

 
$
374

 
$
(4
)
 
20

 
$
206

 
$
(6
)
Government sponsored securities
27

 
66

 
(1
)
 
17

 
17

 
(1
)
States, municipalities and political subdivisions, tax-exempt
997

 
1,960

 
(31
)
 
260

 
383

 
(15
)
Corporate securities
2,243

 
4,642

 
(98
)
 
593

 
936

 
(48
)
Residential mortgage-backed securities
677

 
1,144

 
(23
)
 
531

 
1,092

 
(52
)
Commercial mortgage-backed securities
17

 
31

 

 
10

 
25

 
(2
)
Other securities
192

 
575

 
(3
)
 
68

 
201

 
(5
)
Total fixed maturity securities
4,198

 
$
8,792

 
$
(160
)
 
1,499

 
$
2,860

 
$
(129
)
December 31, 2017
 
 
 
 
 
 
 
 
 
 
 
Fixed maturity securities:
 
 
 
 
 
 
 
 
 
 
 
United States Government securities
36

 
$
450

 
$
(5
)
 
11

 
$
56

 
$
(1
)
Government sponsored securities
12

 
16

 

 
16

 
15

 

States, municipalities and political subdivisions, tax-exempt
414

 
641

 
(5
)
 
189

 
356

 
(7
)
Corporate securities
1,081

 
2,200

 
(30
)
 
279

 
330

 
(13
)
Residential mortgage-backed securities
445

 
1,050

 
(8
)
 
287

 
478

 
(12
)
Commercial mortgage-backed securities
7

 
14

 

 
12

 
27

 
(2
)
Other securities
132

 
406

 
(3
)
 
20

 
36

 
(1
)
Total fixed maturity securities
2,127

 
$
4,777

 
$
(51
)
 
814

 
$
1,298

 
$
(36
)
Amortized Cost and Fair Value of Fixed Maturity Securities, By Contractual Maturity
The amortized cost and fair value of fixed maturity securities at September 30, 2018, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because the issuers of the securities may have the right to prepay obligations.
 
Amortized
Cost
 
Estimated
Fair Value
Due in one year or less
$
559

 
$
562

Due after one year through five years
5,401

 
5,376

Due after five years through ten years
5,252

 
5,211

Due after ten years
3,983

 
3,978

Mortgage-backed securities
2,810

 
2,759

Total fixed maturity securities
$
18,005

 
$
17,886

Proceeds and Realized Gains and Losses from Investments
Proceeds from sales, maturities, calls or redemptions of fixed maturity securities and the related gross realized gains and gross realized losses for the three and nine months ended September 30, 2018 and 2017 are as follows:
 
Three Months Ended 
 September 30
 
Nine Months Ended 
 September 30
 
2018
 
2017
 
2018
 
2017
Proceeds
$
1,532

 
$
2,937

 
$
6,413

 
$
9,056

Gross realized gains
12

 
47

 
73

 
134

Gross realized losses
(16
)
 
(9
)
 
(85
)
 
(49
)
Investments In Equity Securities
A summary of current and long-term equity securities at September 30, 2018 and December 31, 2017 is as follows:
 
September 30, 2018
 
December 31, 2017
Equity securities:
 
 
 
Exchange traded funds
$
487

 
$
1,300

Fixed maturity mutual funds
611

 
791

Common equity securities
890

 
1,254

Private equity securities
318

 
287

Total
$
2,306

 
$
3,632

Gains (Losses) Related to Equity Securities
The gains and losses related to equity securities for the three and nine months ended September 30, 2018 are as follows:
 
Three Months Ended September 30, 2018
 
Nine Months Ended September 30, 2018
Net realized gains (losses) recognized on equity securities
$
27

 
$
(33
)
Less: Net realized gains recognized on equity securities sold during the period
(11
)
 
(208
)
Unrealized gains (losses) recognized on equity securities still held at September 30, 2018
$
16

 
$
(241
)
Securities Lending Programs
The remaining contractual maturity of our securities lending agreements at September 30, 2018 is as follows:
 
Overnight and Continuous
Securities lending transactions
 
United States Government securities
$
131

Corporate securities
456

Equity securities
154

Total
$
741