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Investment Securities
 9 Months Ended
Sep. 30, 2016
Investments, Debt and Equity Securities [Abstract]  
Investment Securities

NOTE 3. INVESTMENT SECURITIES

Substantially all of our investment securities are classified as available-for-sale. These comprise mainly investment-grade debt securities supporting obligations to annuitants and policyholders in our run-off insurance operations. We do not have any securities classified as held-to-maturity.

September 30, 2016December 31, 2015
GrossGrossGrossGross
AmortizedunrealizedunrealizedEstimatedAmortizedunrealizedunrealizedEstimated
(In millions)costgainslossesfair valuecostgainslossesfair value
GE
Debt
    U.S. corporate$2$-$-$2$2$-$-$3
    Corporate – non-U.S.----1--1
    U.S. government and federal
       agency491-5049--49
Equity15653(5)2048713(2)98
20854(5)25713914(2)151
GE Capital
Debt
   U.S. corporate20,8654,264(32)25,09719,9712,669(285)22,355
    State and municipal3,907693(44)4,5563,910407(73)4,245
    Mortgage and asset-backed2,798184(17)2,9662,995157(35)3,116
    Corporate – non-U.S.11,769114(10)11,87375996(9)846
    Government – non-U.S.592161(1)752279136-415
    U.S. government and federal
       agency65691-747623104-727
Equity10520-12511216(4)123
40,6935,526(103)46,11628,6483,585(407)31,827
Eliminations(4)--(4)(4)--(4)
Total$40,897$5,580$(108)$46,369$28,783$3,599$(409)$31,973

ESTIMATED FAIR VALUE AND GROSS UNREALIZED LOSSES OF AVAILABLE-FOR-SALE INVESTMENT SECURITIES
In loss position for
Less than 12 months12 months or more
Gross Gross
EstimatedunrealizedEstimatedunrealized
(In millions)fair value(a)losses(a)(b)fair valuelosses(b)
September 30, 2016
Debt
   U.S. corporate$148$(2)$387$(30)
   State and municipal31(1)157(43)
   Mortgage and asset-backed167(2)112(14)
Corporate – non-U.S.4,088(7)31(3)
Government - non-U.S.256(1)--
Equity11(5)--
Total$4,701$(19)$686$(90)(c)
December 31, 2015
Debt
   U.S. corporate$2,966 $(218) $433 $(67)
   State and municipal494 (20) 155 (53)
Mortgage and asset-backed719 (20) 84 (16)
   Corporate – non-U.S.56(4)14(4)
Equity36 (6) - -
Total$4,273 $(269) $686 $(140)

(a) Includes the estimated fair value of and gross unrealized losses on equity securities held by GE. At September 30, 2016, the estimated fair value of and gross unrealized losses on equity securities were $11 million and $(5) million, respectively. At December 31, 2015, the estimated fair value of and gross unrealized losses on equity securities were $6 million and $(2) million, respectively.

(b) Included gross unrealized losses of $1 million related to securities that had other-than-temporary impairments previously recognized at September 30, 2016.

(c) Includes debt securities held to support obligations to holders of Guaranteed Investment Contracts (GICs) of which the majority are considered to be investment-grade by the major rating agencies at September 30, 2016.

Unrealized losses are not indicative of the amount of credit loss that would be recognized and at September 30, 2016 are primarily due to increases in market yields subsequent to our purchase of the securities. We presently do not intend to sell the vast majority of our debt securities that are in an unrealized loss position and believe that it is not more likely than not that we will be required to sell the vast majority of these securities before anticipated recovery of our amortized cost. The methodologies and significant inputs used to measure the amount of credit loss for our investment securities during 2016 have not changed.

PRE-TAX, OTHER-THAN-TEMPORARY IMPAIRMENTS ON INVESTMENT SECURITIES
Three months ended September 30Nine months ended September 30
(In millions)2016201520162015
Total pre-tax, OTTI recognized$11$3$28$35
Pre-tax, OTTI recognized in AOCI----
Pre-tax, OTTI recognized in earnings(a)$11$3$28$35

(a) Included pre-tax, other-than-temporary impairments recorded in earnings related to equity securities of an immaterial amount and $1 million in the three months ended September 30, 2016 and 2015, respectively and $9 million and $1 million in the nine months ended September 30, 2016 and 2015, respectively.

CONTRACTUAL MATURITIES OF INVESTMENT IN AVAILABLE-FOR-SALE DEBT SECURITIES
(EXCLUDING MORTGAGE AND ASSET-BACKED SECURITIES)
AmortizedEstimated
(In millions)costfair value
Due
Within one year$11,653$11,656
After one year through five years3,9844,247
After five years through ten years 4,6055,168
After ten years 17,60022,007

We expect actual maturities to differ from contractual maturities because borrowers have the right to call or prepay certain obligations.

GROSS REALIZED GAINS AND LOSSES ON AVAILABLE-FOR-SALE INVESTMENT SECURITIES
Three months ended September 30Nine months ended September 30
(In millions)2016201520162015
GE
Gains$4$3$10$4
Losses, including impairments--(10)(14)
Net43-(10)
GE Capital
Gains32039117
Losses, including impairments(12)(5)(43)(40)
Net(10)15(3)77
Total$(5)$18$(4)$67

Although we generally do not have the intent to sell any specific securities at the end of the period, in the ordinary course of managing our investment securities portfolio, we may sell securities prior to their maturities for a variety of reasons, including diversification, credit quality, yield and liquidity requirements and the funding of claims and obligations to policyholders.

Proceeds from investment securities sales and early redemptions by issuers totaled $416 million and $2,356 million in the three months ended September 30, 2016 and 2015, respectively, principally from sales of U.S. government and federal agency and Mortgage and asset-backed securities by Trinity and our run-off insurance operations.

Proceeds from investment securities sales and early redemptions by issuers totaled $1,283 million and $4,953 million in the nine months ended September 30, 2016 and 2015, respectively, principally from sales of