| Changes in Level 3 Investments for the Year Ended December 31, 2013 | ||||||||||||||||||
| Purchases, | Transfers | |||||||||||||||||
| issuances | in and/or | |||||||||||||||||
| January 1, | Net realized | Net unrealized | and | out of | December 31, | |||||||||||||
| (In millions) | 2013 | gains (losses) | gains (losses) | settlements | Level 3 | (a) | 2013 | |||||||||||
| Debt securities | ||||||||||||||||||
| Fixed income and cash | ||||||||||||||||||
| investment funds | $ | 50 | $ | (7) | $ | - | $ | (43) | $ | - | $ | - | ||||||
| Residential mortgage-backed | 3 | - | - | - | (3) | - | ||||||||||||
| Other debt securities | 22 | - | - | (22) | - | - | ||||||||||||
| Private equities | 6,878 | 525 | 588 | (1,675) | (47) | 6,269 | ||||||||||||
| Real estate | 3,356 | 23 | 330 | (355) | - | 3,354 | ||||||||||||
| Other investments | 1,694 | (1) | 200 | (77) | (194) | 1,622 | ||||||||||||
| $ | 12,003 | $ | 540 | $ | 1,118 | $ | (2,172) | $ | (244) | $ | 11,245 | |||||||
(a) Transfers in and out of Level 3 are considered to occur at the beginning of the period.
| Changes in Level 3 Investments for the Year Ended December 31, 2012 | |||||||||||||||||||||||
| Purchases, | Transfers | ||||||||||||||||||||||
| issuances | in and/or | ||||||||||||||||||||||
| January 1, | Net realized | Net unrealized | and | out of | December 31, | ||||||||||||||||||
| (In millions) | 2012 | gains (losses) | gains (losses) | settlements | Level 3 | (a) | 2012 | ||||||||||||||||
| Debt securities | |||||||||||||||||||||||
| Fixed income and cash | |||||||||||||||||||||||
| investment funds | $ | 62 | $ | - | $ | 9 | $ | (21) | $ | - | $ | 50 | |||||||||||
| U.S. corporate | 3 | (1) | - | (2) | - | - | |||||||||||||||||
| Residential mortgage-backed | 5 | (2) | - | - | - | 3 | |||||||||||||||||
| Other debt securities | 146 | (2) | - | (122) | - | 22 | |||||||||||||||||
| Private equities | 6,786 | 133 | 438 | (479) | - | 6,878 | |||||||||||||||||
| Real estate | 3,274 | 20 | 279 | (217) | - | 3,356 | |||||||||||||||||
| Other investments | 1,709 | 32 | 72 | (71) | (48) | 1,694 | |||||||||||||||||
| $ | 11,985 | $ | 180 | $ | 798 | $ | (912) | $ | (48) | $ | 12,003 | ||||||||||||
(a) Transfers in and out of Level 3 are considered to occur at the beginning of the period.