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Fair Value Measurements (tables)
12 Months Ended
Dec. 31, 2014
Fair Value Measurements disclosure  
Level within the fair value hierarchy at which the Company's financial assets and financial liabilities reported at fair value are measured [Table Text Block]

 

(at December 31, 2014, in millions)
  Total   Level 1   Level 2   Level 3  

Invested assets:

                         

Fixed maturities

                         

U.S. Treasury securities and obligations of U.S. government and government agencies and authorities

  $ 2,053   $ 2,049   $ 4   $  

Obligations of states, municipalities and political subdivisions

    33,573         33,560     13  

Debt securities issued by foreign governments

    2,368         2,368      

Mortgage-backed securities, collateralized mortgage obligations and pass-through securities

    2,213         2,203     10  

All other corporate bonds

    23,135         22,934     201  

Redeemable preferred stock

    132     2     122     8  

Total fixed maturities

    63,474     2,051     61,191     232  

Equity securities

                         

Public common stock

    691     691          

Non-redeemable preferred stock

    208     82     126      

Total equity securities

    899     773     126      

Other investments

    55     19         36  

Total

  $ 64,428   $ 2,843   $ 61,317   $ 268  

 

(at December 31, 2013, in millions)
  Total   Level 1   Level 2   Level 3  

Invested assets:

                         

Fixed maturities

                         

U.S. Treasury securities and obligations of U.S. government and government agencies and authorities

  $ 2,315   $ 2,298   $ 17   $  

Obligations of states, municipalities and political subdivisions

    35,562     1     35,538     23  

Debt securities issued by foreign governments

    2,577         2,577      

Mortgage-backed securities, collateralized mortgage obligations and pass-through securities

    2,424         2,415     9  

All other corporate bonds

    20,940         20,726     214  

Redeemable preferred stock

    138         129     9  

Total fixed maturities

    63,956     2,299     61,402     255  

Equity securities

                         

Public common stock

    610     610          

Non-redeemable preferred stock

    333     138     195      

Total equity securities

    943     748     195      

Other investments

    53     19         34  

Total

  $ 64,952   $ 3,066   $ 61,597   $ 289  
Changes in the Level 3 fair value category [Table Text Block]

 

(in millions)
  Fixed
Maturities
  Other
Investments
  Total  

Balance at December 31, 2013

  $ 255   $ 34   $ 289  

Total realized and unrealized investment gains (losses):

                   

Reported in net realized investment gains(1)

    3     1     4  

Reported in increases (decreases) in other comprehensive income

    (2 )   1     (1 )

Purchases, sales and settlements/maturities:

                   

Purchases

    232     1     233  

Sales

    (1 )   (1 )   (2 )

Settlements/maturities

    (90 )       (90 )

Gross transfers into Level 3

    18         18  

Gross transfers out of Level 3

    (183 )       (183 )

Balance at December 31, 2014

  $ 232   $ 36   $ 268  

Amount of total realized investment gains (losses) for the period included in the consolidated statement of income attributable to changes in the fair value of assets still held at the reporting date

  $   $   $  

(1)
Includes impairments on investments held at the end of the period as well as amortization on fixed maturities.

(in millions)
  Fixed
Maturities
  Other
Investments
  Total  

Balance at December 31, 2012

  $ 230   $ 54   $ 284  

Total realized and unrealized investment gains (losses):

                   

Reported in net realized investment gains(1)

    4     12     16  

Reported in increases (decreases) in other comprehensive income

    (2 )   1     (1 )

Purchases, sales and settlements/maturities:

                   

Purchases

    180         180  

Sales

    (25 )   (33 )   (58 )

Settlements/maturities

    (83 )       (83 )

Gross transfers into Level 3

    15         15  

Gross transfers out of Level 3

    (64 )       (64 )

Balance at December 31, 2013

  $ 255   $ 34   $ 289  

Amount of total realized investment gains (losses) for the period included in the consolidated statement of income attributable to changes in the fair value of assets still held at the reporting date

  $   $   $  

(1)
Includes impairments on investments held at the end of the period as well as amortization on fixed maturities.
Carrying value and fair value of financial instruments disclosed, but not carried, at fair value and the level within the fair value hierarchy at which such financial instruments are categorized [Table Text Block]

 

(at December 31, 2014, in millions)
  Carrying
Value
  Fair
Value
  Level 1   Level 2   Level 3  

Financial assets:

                               

Short-term securities

  $ 4,364   $ 4,364   $ 1,283   $ 3,042   $ 39  

Financial liabilities:

   
 
   
 
   
 
   
 
   
 
 

Debt

  $ 6,249   $ 7,522   $   $ 7,522   $  

Commercial paper

    100     100         100      


 

 

(at December 31, 2013, in millions)
  Carrying
Value
  Fair
Value
  Level 1   Level 2   Level 3  

Financial assets:

                               

Short-term securities

  $ 3,882   $ 3,882   $ 1,608   $ 2,215   $ 59  

Financial liabilities:

   
 
   
 
   
 
   
 
   
 
 

Debt

  $ 6,246   $ 7,123   $   $ 7,123   $  

Commercial paper

    100     100         100