Note 9. Investment gains/losses

Investment gains/losses included in earnings are summarized below (in millions).


	Second Quarter				First Six Months
	2017		2016		2017		2016
Fixed maturity securities—
Gross gains from sales and redemptions	$	15	$	20	$	26	$	39
Gross losses from sales and redemptions		(8)		(14)		(14)		(17)
Equity securities—
Gross gains from sales and redemptions		359		740		784		2,547
Gross losses from sales and redemptions		(82)		(53)		(207)		(63)
Other-than-temporary impairment losses		—		(63)		—		(63)
Other		6		13		16		50

	$	290	$	643	$	605	$	2,493

We record investments in equity and fixed maturity securities classified as available-for-sale at fair value and record the difference between fair value and cost in other comprehensive income. We recognize investment gains and losses when we sell or otherwise dispose such securities. Gains from sales and redemptions of equity securities in the second quarter of 2016 included $610 million from the redemption of our investment in Kraft Heinz Preferred Stock. Gains in the first six months of 2016 also included approximately $1.1 billion from the exchange of our P&G common stock in connection with the acquisition of Duracell.