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The following tables present the carrying amount and fair value categorized by fair value hierarchy level for the
Company's financial instruments that are not carried at fair value as of December 31.
2016
(In millions)
Carrying
Value
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)
Significant
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Total
Fair
Value
Assets:
Securities held to maturity,
carried at amortized cost:
Fixed maturities:
Government and agencies
$ 20,702
$ 26,040
$
0
$
0
$ 26,040
Municipalities
350
0
457
0
457
Mortgage and asset-backed
securities
30
0
10
22
32
Public utilities
3,201
0
3,536
0
3,536
Sovereign and
supranational
2,602
0
2,877
0
2,877
Banks/financial institutions
3,731
0
3,900
0
3,900
Other corporate
2,734
0
3,179
0
3,179
Other investments
1,174
0
0
1,142
1,142
Total assets
$ 34,524
$ 26,040
$ 13,959
$ 1,164
$ 41,163
Liabilities:
Other policyholders’ funds
$ 6,659
$
0
$
0
$ 6,540
$ 6,540
Notes payable
(excluding capital leases)
5,339
0
0
5,530
5,530
Total liabilities
$ 11,998
$
0
$
0
$ 12,070
$ 12,070
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