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Note 5. Net Realized Investment Gains
9 Months Ended
Sep. 30, 2013
Notes  
Note 5. Net Realized Investment Gains

5.             Net Realized Investment Gains

 

Net realized investment gains for the three months and nine months ended September 30, 2013 and 2012 are as follows (in thousands):

 

 

 

Three Months Ended

 

Nine Months Ended

 

 

September 30,

 

September 30,

 

 

2013

 

2012

 

2013

 

2012

 

 

 

 

 

 

 

 

 

Available-for-sale securities:

 

 

 

 

 

 

 

 

Fixed maturities

$

(22)

$

(4)

$

810 

$

152 

Common stock

 

 

 

 

Preferred stock

 

 - 

 

(2)

 

23 

 

(2)

    Total available-for-sale securities

 

(22)

 

(6)

 

833 

 

150 

 

 

 

 

 

 

 

 

 

Trading securities

 

75 

 

25 

 

134 

 

38 

 

 

 

 

 

 

 

 

 

Unrealized gain (loss) on trading securities:

 

 

 

 

 

 

 

 

Available-for-sale securities transferred

 

 

 

 

 

 

 

 

    to trading category on January 1, 2012

 

 

 

 

20 

Change in unrealized gain on trading securities

 

(7)

 

11 

 

 

(8)

    Total unrealized gain (loss) on trading securities

 

(7)

 

11 

 

 

12 

 

 

 

 

 

 

 

 

 

    Net realized investment gains

$

46 

$

30 

$

973 

$

200 

 

For the three months and nine months ended September 30, 2013, the Company recorded realized gross gains of $56,000 and $984,000, respectively, and gross losses of $78,000 and $151,000, respectively, on available-for-sale securities.  For the three months and nine months ended September 30, 2012, the Company recorded realized gross gains of $38,000 and $337,000, respectively, and gross losses of $44,000 and $187,000, respectively, on available-for-sale securities. 

 

On January 1, 2012, the Company transferred equity securities previously classified as available-for-sale into the trading category and, as a result, recognized $42,000 of gross gains and $22,000 of gross losses in net realized investment gains on the accompanying Condensed Consolidated Statements of Income.  These gains and losses were previously included in accumulated other comprehensive income (loss) on the accompanying Condensed Consolidated Balance Sheet at December 31, 2011.