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Available-For-Sale Securities (Tables)
3 Months Ended
Mar. 31, 2013
Investments, Debt and Equity Securities [Abstract]  
Schedule of available-for-sale securities
 
 
March 31, 2013
 
December 31, 2012
(Millions of dollars)
Cost 
Basis
 
Unrealized Pretax Net Gains 
(Losses)
 
Fair 
Value
 
Cost 
Basis
 
Unrealized Pretax Net Gains 
(Losses)
 
Fair 
Value
Government debt
 
 
 
 
 
 
 
 
 
 
 
U.S. treasury bonds
$
10

 
$

 
$
10

 
$
10

 
$

 
$
10

Other U.S. and non-U.S. government bonds
120

 
2

 
122

 
144

 
2

 
146

 
 
 
 
 
 
 
 
 
 
 
 
Corporate bonds
 

 
 

 
 
 
 

 
 

 
 

Corporate bonds
638

 
36

 
674

 
626

 
38

 
664

Asset-backed securities
94

 

 
94

 
96

 

 
96

 
 
 
 
 
 
 
 
 
 
 
 
Mortgage-backed debt securities
 
 
 
 
 
 
 

 
 

 
 

U.S. governmental agency
336

 
7

 
343

 
291

 
8

 
299

Residential
24

 

 
24

 
26

 
(1
)
 
25

Commercial
101

 
9

 
110

 
117

 
10

 
127

 
 
 
 
 
 
 
 
 
 
 
 
Equity securities
 
 
 
 
 
 
 

 
 

 
 

Large capitalization value
151

 
58

 
209

 
147

 
38

 
185

Smaller company growth
21

 
17

 
38

 
22

 
12

 
34

Total
$
1,495

 
$
129

 
$
1,624

 
$
1,479

 
$
107

 
$
1,586

 
 
 
 
 
 
 
 
 
 
 
 
Investments in an unrealized loss position that are not other-than-temporarily impaired:
Investments in an unrealized loss position that are not other-than-temporarily impaired:
 
 
 
March 31, 2013
 
Less than 12 months 1
 
12 months or more 1
 
Total
(Millions of dollars)
Fair 
Value
 
Unrealized
Losses
 
Fair 
Value
 
Unrealized
Losses
 
Fair 
Value
 
Unrealized
Losses
Corporate bonds
 
 
 
 
 
 
 
 
 
 
 
Asset-backed securities
$

 
$

 
$
21

 
$
2

 
$
21

 
$
2

Mortgage-backed debt securities
 
 
 
 
 
 
 
 
 
 
 
U.S. governmental agency
122

 
2

 
12

 

 
134

 
2

Residential

 

 
10

 
1

 
10

 
1

Equity securities
 
 
 
 
 
 
 
 
 
 
 
Large capitalization value
10

 
1

 
7

 
1

 
17

 
2

Total
$
132

 
$
3

 
$
50

 
$
4

 
$
182

 
$
7

 
December 31, 2012
 
Less than 12 months 1
 
12 months or more 1
 
Total
(Millions of dollars)
Fair 
Value
 
Unrealized
Losses
 
Fair 
Value
 
Unrealized
Losses
 
Fair 
Value
 
Unrealized
Losses
Corporate bonds
 
 
 
 
 
 
 
 
 
 
 
Asset-backed securities
$

 
$

 
$
20

 
$
3

 
$
20

 
$
3

Mortgage-backed debt securities
 

 
 

 
 

 
 

 
 

 
 

U.S. governmental agency
84

 
1

 
15

 

 
99

 
1

Residential

 

 
14

 
1

 
14

 
1

Equity securities
 

 
 

 
 

 
 

 
 

 
 

Large capitalization value
25

 
2

 
10

 
1

 
35

 
3

Total
$
109

 
$
3

 
$
59

 
$
5

 
$
168

 
$
8


 1    Indicates length of time that individual securities have been in a continuous unrealized loss position.
Cost basis and fair value of the available-for-sale debt securities by contractual maturity
 
March 31, 2013
(Millions of dollars)
Cost Basis
 
Fair Value
Due in one year or less
$
181

 
$
183

Due after one year through five years
588

 
618

Due after five years through ten years
58

 
65

Due after ten years
35

 
34

U.S. governmental agency mortgage-backed securities
336

 
343

Residential mortgage-backed securities
24

 
24

Commercial mortgage-backed securities
101

 
110

Total debt securities – available-for-sale
$
1,323

 
$
1,377

 
 
 
 

 
Schedule of proceeds and gross gain and losses from the sale of available-for-sale securities
Sales of Securities
 
 
 
Three Months Ended
March 31,
 
(Millions of dollars)
2013
 
2012
 
Proceeds from the sale of available-for-sale securities
$
98

 
$
112

 
Gross gains from the sale of available-for-sale securities
$
1

 
$
2

 
Gross losses from the sale of available-for-sale securities
$

 
$