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Interpreting Footnote Disclosures for Investments Assume CNA Financial Corporation provides the following footnote to its 2011 10-K report. Valuation of investments CNA classifies its fixed

Interpreting Footnote Disclosures for Investments Assume CNA Financial Corporation provides the following footnote to its 2011 10-K report. Valuation of investments CNA classifies its fixed maturity securities and its equity securities as either available-for-sale or trading, and as such, they are carried at fair value. Changes in fair value of trading securities are reported within net investment income on the Consolidated Statements of Operations. Changes in fair value related to available-for-sale securities are reported as a componant of other comprehensive income....Investment valuations are adjusted and losses may be recognized as Net realized investment losses on the Consolidated Statements of Operations when a decline in value is determined by the Company to be other-than-temporary.

The following table provides a summary of fixed maturity and equity securities.

Summary of Fixed Maturity and Equity Securities
December 31, 2011 (in millions) Cost or Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value
Fixed maturity securities available-for-sale
U.S. Treasury and obligations of government agencies $ 122 $ 16 $ 1 $ 137
Asset-backed:
Residential mortgage-backed 6,254 101 265 6,090
Commercial mortgage-backed 994 40 41 993
Other asset-backed 753 18 8 763
Total asset-backed 8,001 159 314 7,846
States, municipalities and political subdivisions 8,157 142 410 7,889
Foreign government 602 18 -- 620
Corporate and other bonds 19,492 1,603 70 21,025
Redeemable preferred stock 47 7 -- 54
Total fixed maturity securities available-for-sale 36,421 1,945 795 37,571
Total fixed maturity securities trading 6 -- -- 6
Equity securities available-for-sale:
Common stock 90 25 -- 115
Preferred stock 332 2 9 325
Total equity securities available-for-sale 422 27 9 440
Total $ 36,849 $ 1,972 $ 804 $38,017

(a) At what amount does CNA report its investment portfolio on its balance sheet? In your answer identify the portfolios fair value, cost, and any unrealized gains and losses.

Reported on balance sheet =Answer

($ millions)
Fair value =Answer

($ millions)
Cost =Answer

($ millions)
Unrealized gains =Answer

($ millions)
Unrealized losses =Answer

($ millions)

(b) Compute the net unrealized gain or loss on CNA's investment portfolio.

Use a negative sign with your answer to indicate an unrealized loss.

$Answer

million

please help me get the right answer only ... lately getting too many wrong feed back answers from chegg thank you

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