110 / 188
(In millions)
2016
2015
Unrealized gains (losses) on securities available for sale
$ 7,630
$ 4,831
Deferred income taxes
(2,825)
(1,845)
Shareholders’ equity, unrealized gains (losses) on investment securities
$ 4,805
$ 2,986
Gross Unrealized Loss Aging
The following tables show the fair values and gross unrealized losses of our available-for-sale and held-to-maturity
investments that were in an unrealized loss position, aggregated by investment category and length of time that individual
securities have been in a continuous unrealized loss position at December 31.
2016
Total
Less than 12 months
12 months or longer
(In millions)
Fair
Value
Unrealized
Losses
Fair
Value
Unrealized
Losses
Fair
Value
Unrealized
Losses
Fixed Maturities:
Japan government and
agencies:
Yen-denominated
$ 3,958
$ 160 $ 3,958
$ 160
$ 0
$ 0
Municipalities:
Dollar-denominated
44
8
0
0
44
8
Yen-denominated
105
8
105
8
0
0
Mortgage- and asset-
backed securities:
Yen-denominated
713
8
713
8
0
0
Public utilities:
Dollar-denominated
1,265
60
790
32
475
28
Yen-denominated
635
26
347
14
288
12
Sovereign and supranational:
Yen-denominated
244
13
38
5
206
8
Banks/financial institutions:
Dollar-denominated
268
16
238
10
30
6
Yen-denominated
1,521
100
636
19
885
81
Other corporate:
Dollar-denominated
10,462
690
7,252
346
3,210
344
Yen-denominated
321
10
321
10
0
0
Total fixed maturities
19,536
1,099
14,398
612
5,138
487
Perpetual securities:
Yen-denominated
479
49
85
1
394
48
Total perpetual securities
479
49
85
1
394
48
Equity securities:
Dollar-denominated
211
6
211
6
0
0
Yen-denominated
49
2
49
2
0
0
Total equity securities
260
8
260
8
0
0
Total
$ 20,275
$1,156 $14,743
$ 621
$ 5,532
$ 535
108