ALLSTATE CORP | 2013 | FY | 3

($ in millions)





   Quoted prices
in active
markets for
identical
assets
(Level 1)		   Significant
other
observable
inputs
(Level 2)		   Significant
unobservable
inputs
(Level 3)		   Counterparty
and cash
collateral
netting		   Balance
as of
December 31,
2013		  

Assets

                                

Fixed income securities:

                                

U.S. government and agencies

   $ 1,801   $ 1,105   $ 7         $ 2,913  

Municipal

     —     8,380     343           8,723  

Corporate

     —     39,494     1,109           40,603  

Foreign government

     —     1,824     —           1,824  

ABS

     —     4,326     192           4,518  

RMBS

     —     1,472     2           1,474  

CMBS

     —     786     43           829  

Redeemable preferred stock

     —     25     1           26  
                         
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total fixed income securities

     1,801     57,412     1,697           60,910  

Equity securities

     4,268     697     132           5,097  

Short-term investments

     752     1,626     15           2,393  

Other investments: Free-standing derivatives

     —     284     9   $ (24 )   269  

Separate account assets

     5,039     —     —           5,039  

Other assets

     1     —     —           1  

Assets held for sale

     1,854     9,812     362           12,028  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total recurring basis assets

     13,715     69,831     2,215     (24 )   85,737  

Non-recurring basis (1)

     —     —     24           24  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total assets at fair value

   $ 13,715   $ 69,831   $ 2,239   $ (24 ) $ 85,761  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                       

% of total assets at fair value

     16.0 %   81.4 %   2.6 %    — %   100.0 %

Liabilities

    
 		    
 		    
 		    
 		    
 		  

Contractholder funds: Derivatives embedded in life and annuity contracts

   $ —   $ —   $ (307 )       $ (307 )

Other liabilities: Free-standing derivatives

     —     (194 )   (14 ) $ 11     (197 )

Liabilities held for sale

     —     —     (246 )         (246 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total recurring basis liabilities

     —     (194 )   (567 )   11     (750 )

Non-recurring basis (2)

     —     —     (11,088 )         (11,088 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total liabilities at fair value

   $ —   $ (194 ) $ (11,655 ) $ 11   $ (11,838 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                       

% of total liabilities at fair value

      — %   1.6 %   98.5 %   (0.1 )%   100.0 %
(1)
Includes $8 million of mortgage loans and $16 million of limited partnership interests written-down to fair value in connection with recognizing other-than-temporary impairments.
(2)
Relates to LBL business held for sale (see Note 4). The total fair value measurement includes $15,593 million of assets held for sale and $(14,899) million of liabilities held for sale, less $12,028 million of assets and $(246) million of liabilities measured at fair value on a recurring basis.

       The following table summarizes the Company's assets and liabilities measured at fair value on a recurring and non-recurring basis as of December 31, 2012.

($ in millions)





   Quoted prices
in active
markets for
identical
assets
(Level 1)		   Significant
other
observable
inputs
(Level 2)		   Significant
unobservable
inputs
(Level 3)		   Counterparty
and cash
collateral
netting		   Balance
as of
December 31,
2012		  

Assets

                                

Fixed income securities:

                                

U.S. government and agencies

   $ 2,790   $ 1,915   $ 8         $ 4,713  

Municipal

     —     12,104     965           13,069  

Corporate

     —     46,920     1,617           48,537  

Foreign government

     —     2,517     —           2,517  

ABS

     —     3,373     251           3,624  

RMBS

     —     3,029     3           3,032  

CMBS

     —     1,446     52           1,498  

Redeemable preferred stock

     —     26     1           27  
                         
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total fixed income securities

     2,790     71,330     2,897           77,017  

Equity securities

     3,008     858     171           4,037  

Short-term investments

     703     1,633     —           2,336  

Other investments: Free-standing derivatives

     —     187     3   $ (57 )   133  

Separate account assets

     6,610     —     —           6,610  

Other assets

     5     —     1           6  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total recurring basis assets

     13,116     74,008     3,072     (57 )   90,139  

Non-recurring basis (1)

     —     —     9           9  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total assets at fair value

   $ 13,116   $ 74,008   $ 3,081   $ (57 ) $ 90,148  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                       

% of total assets at fair value

     14.6 %   82.1 %   3.4 %   (0.1 )%   100.0 %

Liabilities

    
 		    
 		    
 		    
 		    
 		  

Contractholder funds: Derivatives embedded in life and annuity contracts

   $ —   $ —   $ (553 )       $ (553 )

Other liabilities: Free-standing derivatives

     —     (98 )   (30 ) $ 33     (95 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total liabilities at fair value

   $ —   $ (98 ) $ (583 ) $ 33   $ (648 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                       

% of total liabilities at fair value

      — %   15.1 %   90.0 %   (5.1 )%   100.0 %
(1)
Includes $4 million of mortgage loans, $4 million of limited partnership interests and $1 million of other investments written-down to fair value in connection with recognizing other-than-temporary impairments.

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