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Fair Value of Financial Instruments (Tables) | 9 Months Ended
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Jul. 01, 2012
Fair Value of Financial Instruments [Abstract] |
Assets and liabilities carrying at fair value on recurring basis |
|  | July 1, 2012 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Fair Value |  |  | Carrying Amount |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consumer Products and Other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 262,261 |  |  | $ | — |  |  | $ | — |  |  | $ | 262,261 |  |  | $ | 262,261 |
Contingent purchase price reduction receivable |  |  | — |  |  |  | — |  |  |  | 41,000 |  |  |  | 41,000 |  |  |  | 41,000 |
Short-term investments (including related interest receivable of $8) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity securities — trading |  |  | 162,518 |  |  |  | — |  |  |  | — |  |  |  | 162,518 |  |  |  | 162,518 |
Fixed maturity securities — held-to-maturity |  |  | — |  |  |  | 35,005 |  |  |  | — |  |  |  | 35,005 |  |  |  | 35,006 |
Fixed maturity securities — trading |  |  | — |  |  |  | 6,725 |  |  |  | — |  |  |  | 6,725 |  |  |  | 6,725 |
Derivatives: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange forward agreements |  |  | — |  |  |  | 5,556 |  |  |  | — |  |  |  | 5,556 |  |  |  | 5,556 |
Insurance and Financial Services |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  |  | 1,560,481 |  |  |  | 10,084 |  |  |  | — |  |  |  | 1,570,565 |  |  |  | 1,570,565 |
Fixed maturity securities, available-for-sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Asset-backed securities |  |  | — |  |  |  | 63,610 |  |  |  | 759,076 |  |  |  | 822,686 |  |  |  | 822,686 |
Commercial mortgage-backed securities |  |  | — |  |  |  | 538,523 |  |  |  | — |  |  |  | 538,523 |  |  |  | 538,523 |
Corporates |  |  | — |  |  |  | 10,831,535 |  |  |  | 147,243 |  |  |  | 10,978,778 |  |  |  | 10,978,778 |
Hybrids |  |  | — |  |  |  | 621,675 |  |  |  | 5,181 |  |  |  | 626,856 |  |  |  | 626,856 |
Municipals |  |  | — |  |  |  | 1,246,045 |  |  |  | 55 |  |  |  | 1,246,100 |  |  |  | 1,246,100 |
Agency residential mortgage-backed securities |  |  | — |  |  |  | 168,026 |  |  |  | — |  |  |  | 168,026 |  |  |  | 168,026 |
Non-agency residential mortgage-backed securities |  |  | — |  |  |  | 549,212 |  |  |  | 615 |  |  |  | 549,827 |  |  |  | 549,827 |
U.S. Government |  |  | 139,156 |  |  |  | — |  |  |  | — |  |  |  | 139,156 |  |  |  | 139,156 |
Equity securities — available-for-sale |  |  | — |  |  |  | 242,264 |  |  |  | — |  |  |  | 242,264 |  |  |  | 242,264 |
Derivative financial instruments |  |  | — |  |  |  | 160,565 |  |  |  | — |  |  |  | 160,565 |  |  |  | 160,565 |
Asset-backed loans and other invested assets |  |  | — |  |  |  | — |  |  |  | 92,424 |  |  |  | 92,424 |  |  |  | 92,424 |
Total financial assets |  | $ | 2,124,416 |  |  | $ | 14,478,825 |  |  | $ | 1,045,594 |  |  | $ | 17,648,835 |  |  | $ | 17,648,836 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consumer Products and Other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total debt |  | $ | 510,000 |  |  | $ | 1,957,870 |  |  | $ | — |  |  | $ | 2,467,870 |  |  | $ | 2,324,655 |
Derivatives: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange forward agreements |  |  | — |  |  |  | 4,037 |  |  |  | — |  |  |  | 4,037 |  |  |  | 4,037 |
Commodity swap and option agreements |  |  | — |  |  |  | 2,693 |  |  |  | — |  |  |  | 2,693 |  |  |  | 2,693 |
Equity conversion feature of preferred stock |  |  | — |  |  |  | — |  |  |  | 199,360 |  |  |  | 199,360 |  |  |  | 199,360 |
Redeemable preferred stock, excluding equity conversion feature |  |  | — |  |  |  | — |  |  |  | 366,600 |  |  |  | 366,600 |  |  |  | 313,450 |
Insurance and Financial Services |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
FIA embedded derivatives, included in contractholder funds |  |  | — |  |  |  | — |  |  |  | 1,486,465 |  |  |  | 1,486,465 |  |  |  | 1,486,465 |
Investment contracts, included in contractholder funds |  |  | — |  |  |  | — |  |  |  | 12,339,474 |  |  |  | 12,339,474 |  |  |  | 13,799,351 |
Total financial liabilities |  | $ | 510,000 |  |  | $ | 1,964,600 |  |  | $ | 14,391,899 |  |  | $ | 16,866,499 |  |  | $ | 18,130,011 |
|  | September 30, 2011 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Fair Value |  |  | Carrying Amount |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consumer Products and Other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 321,352 |  |  | $ | — |  |  | $ | — |  |  | $ | 321,352 |  |  | $ | 321,352 |
Short-term investments (including related interest receivable of $9) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity securities — trading |  |  | 238,062 |  |  |  | 24,023 |  |  |  | — |  |  |  | 262,085 |  |  |  | 262,085 |
Fixed maturity securities — held to maturity |  |  | — |  |  |  | 75,899 |  |  |  | — |  |  |  | 75,899 |  |  |  | 75,897 |
Fixed maturity securities — trading |  |  | — |  |  |  | 12,665 |  |  |  | — |  |  |  | 12,665 |  |  |  | 12,665 |
Derivatives: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange forward agreements |  |  | — |  |  |  | 3,189 |  |  |  | — |  |  |  | 3,189 |  |  |  | 3,189 |
Commodity swap and option agreements |  |  | — |  |  |  | 274 |  |  |  | — |  |  |  | 274 |  |  |  | 274 |
Insurance and Financial Services |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  |  | 813,239 |  |  |  | 2,768 |  |  |  | — |  |  |  | 816,007 |  |  |  | 816,007 |
Fixed maturity securities, available-for-sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Asset-backed securities |  |  | — |  |  |  | 125,966 |  |  |  | 374,518 |  |  |  | 500,484 |  |  |  | 500,484 |
Commercial mortgage-backed securities |  |  | — |  |  |  | 565,577 |  |  |  | — |  |  |  | 565,577 |  |  |  | 565,577 |
Corporates |  |  | — |  |  |  | 11,696,090 |  |  |  | 159,684 |  |  |  | 11,855,774 |  |  |  | 11,855,774 |
Hybrids |  |  | — |  |  |  | 654,084 |  |  |  | 5,205 |  |  |  | 659,289 |  |  |  | 659,289 |
Municipals |  |  | — |  |  |  | 936,484 |  |  |  | — |  |  |  | 936,484 |  |  |  | 936,484 |
Agency residential mortgage-backed securities |  |  | — |  |  |  | 218,713 |  |  |  | 3,312 |  |  |  | 222,025 |  |  |  | 222,025 |
Non-agency residential mortgage-backed securities |  |  | — |  |  |  | 440,758 |  |  |  | 3,759 |  |  |  | 444,517 |  |  |  | 444,517 |
U.S. Government |  |  | 183,324 |  |  |  | — |  |  |  | — |  |  |  | 183,324 |  |  |  | 183,324 |
Equity securities — available-for-sale |  |  | — |  |  |  | 287,043 |  |  |  | — |  |  |  | 287,043 |  |  |  | 287,043 |
Derivative financial instruments |  |  | — |  |  |  | 52,335 |  |  |  | — |  |  |  | 52,335 |  |  |  | 52,335 |
Other invested assets |  |  | — |  |  |  | — |  |  |  | 44,279 |  |  |  | 44,279 |  |  |  | 44,279 |
Total financial assets |  | $ | 1,555,977 |  |  | $ | 15,095,868 |  |  | $ | 590,757 |  |  | $ | 17,242,602 |  |  | $ | 17,242,600 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consumer Products and Other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total debt |  | $ | 500,000 |  |  | $ | 1,635,528 |  |  | $ | — |  |  | $ | 2,135,528 |  |  | $ | 2,048,780 |
Derivatives: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange forward agreements |  |  | — |  |  |  | 25,679 |  |  |  | — |  |  |  | 25,679 |  |  |  | 25,679 |
Interest rate swap agreements |  |  | — |  |  |  | 1,954 |  |  |  | — |  |  |  | 1,954 |  |  |  | 1,954 |
Commodity swap and option agreements |  |  | — |  |  |  | 1,232 |  |  |  | — |  |  |  | 1,232 |  |  |  | 1,232 |
Equity conversion feature of preferred stock |  |  | — |  |  |  | — |  |  |  | 75,350 |  |  |  | 75,350 |  |  |  | 75,350 |
Redeemable preferred stock, excluding equity conversion feature |  |  | — |  |  |  | — |  |  |  | 337,060 |  |  |  | 337,060 |  |  |  | 292,437 |
Insurance and Financial Services |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
FIA embedded derivatives, included in contractholder funds |  |  | — |  |  |  | — |  |  |  | 1,396,340 |  |  |  | 1,396,340 |  |  |  | 1,396,340 |
Futures contracts |  |  | — |  |  |  | 3,828 |  |  |  | — |  |  |  | 3,828 |  |  |  | 3,828 |
Available-for-sale embedded derivatives |  |  | — |  |  |  | — |  |  |  | 400 |  |  |  | 400 |  |  |  | 400 |
Investment contracts, included in contractholder funds |  |  | — |  |  |  | — |  |  |  | 11,992,013 |  |  |  | 11,992,013 |  |  |  | 13,153,630 |
Note payable |  |  | — |  |  |  | 95,000 |  |  |  | — |  |  |  | 95,000 |  |  |  | 95,000 |
Total financial liabilities |  | $ | 500,000 |  |  | $ | 1,763,221 |  |  | $ | 13,801,163 |  |  | $ | 16,064,384 |  |  | $ | 17,094,630 |
Fair value of embedded derivatives |
|  | Fair Value at July 1, 2012 |  |  | Valuation technique |  | Unobservable input(s) |  | Range (Weighted average)
Assets |  |  |  |  |  |  |  |  |  |
Contingent purchase price reduction receivable |  | $ | 41,000 |  |  | Discounted cash flow |  | Probability of collection Expected term Discount rate Credit insurance risk premium |  | 88% - 96% (92%) 1 year 0.92% 11.7%
Asset-backed securities |  |  | 759,076 |  |  | Broker-quoted |  | Offered quotes |  | 76.77% - 100.53% (94.39%)
Corporates |  |  | 127,572 |  |  | Broker-quoted |  | Offered quotes |  | 0% - 121.15% (78.73%)
|  |  | 19,671 |  |  | Market pricing |  | Quoted prices |  | 101.07% - 150.08% (105.15%)
Hybrids |  |  | 5,181 |  |  | Market pricing |  | Quoted prices |  | 103.63%
Municipals |  |  | 55 |  |  | Broker-quoted |  | Offered quotes |  | 121.36% - 121.36% (121.36%)
Non-agency residential- mortgage-backed securities |  |  | 615 |  |  | Broker-quoted |  | Offered quotes |  | 34.34% - 34.34% (34.34%)
Total |  | $ | 953,170 |  |  |  |  |  |  |
Liabilities |  |  |  |  |  |  |  |  |  |
FIA embedded derivatives, included in contractholder funds |  | $ | 1,486,465 |  |  | Discounted cash flow |  | Market value of option |  | 0% - 35.40% (2.91%)
|  |  |  |  |  |  |  | SWAP rates Mortality multiplier Surrender rates |  | 0.97% - 1.79% (1.37%) 70% - 70% (70%) 2% - 50% (7%)
|  |  |  |  |  |  |  | Non-performance spread |  | 0.25% - 0.25% (0.25%)
Equity conversion feature of preferred stock |  |  | 199,360 |  |  | Monte Carlo simulation / Option model |  | Annualized volatility of equity Discount yield Non-cash accretion rate Calibration adjustment |  | 40% 12.0% - 12.7% (12.2%) 0% - 2% 15% - 17% (15.5%)
Total |  | $ | 1,685,825 |  |  |  |  |  |  |
Changes in fair value of financial instruments |
|  | Three Month Period Ended July 1, 2012 |
|  | Balance at Beginning of Period |  |  | Total Gains (Losses) |  |  | Net Purchases, Sales & Settlements |  |  | Net Transfer In (Out) of Level 3 (a) |  |  | Balance at End of Period |
|  |  | Included in Earnings |  |  | Included in AOCI |  |  |  |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Contingent purchase price reduction receivable |  | $ | 41,000 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 41,000 |
Fixed maturity securities, available-for-sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Asset-backed securities |  |  | 502,938 |  |  |  | — |  |  |  | 919 |  |  |  | 251,545 |  |  |  | 3,674 |  |  |  | 759,076 |
Corporates |  |  | 120,180 |  |  |  | 184 |  |  |  | (3,662 | ) |  |  | (9,747 | ) |  |  | 40,288 |  |  |  | 147,243 |
Hybrids |  |  | 5,100 |  |  |  | — |  |  |  | 81 |  |  |  | — |  |  |  | — |  |  |  | 5,181 |
Municipals |  |  | 10,308 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (10,253 | ) |  |  | 55 |
Agency residential mortgage-backed securities |  |  | 3,330 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (3,330 | ) |  |  | — |
Non-agency residential mortgage-backed securities |  |  | 1,217 |  |  |  | (126 | ) |  |  | 87 |  |  |  | (563 | ) |  |  | — |  |  |  | 615 |
Total assets at Level 3 fair value |  | $ | 684,073 |  |  | $ | 58 |  |  | $ | (2,575 | ) |  | $ | 241,235 |  |  | $ | 30,379 |  |  | $ | 953,170 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
FIA embedded derivatives, included in contractholder funds |  | $ | (1,496,803 | ) |  | $ | 10,338 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (1,486,465 | )
Available-for-sale embedded derivatives |  |  | (376 | ) |  |  | 376 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Equity conversion feature of preferred stock |  |  | (73,820 | ) |  |  | (125,540 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (199,360 | )
Total liabilities at Level 3 fair value |  | $ | (1,570,999 | ) |  | $ | (114,826 | ) |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (1,685,825 | )
|  | Nine Month Period Ended July 1, 2012 |
|  | Balance at Beginning of Period |  |  | Total Gains (Losses) |  |  | Net Purchases, Sales & Settlements |  |  | Net Transfer In (Out) of Level 3 (a) |  |  | Balance at End of Period |
|  |  | Included in Earnings |  |  | Included in AOCI |  |  |  |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Contingent purchase price reduction receivable |  | $ | — |  |  | $ | 41,000 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 41,000 |
Fixed maturity securities available-for-sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Asset-backed securities |  |  | 374,518 |  |  |  | — |  |  |  | 6,985 |  |  |  | 363,076 |  |  |  | 14,497 |  |  |  | 759,076 |
Corporates |  |  | 159,684 |  |  |  | 207 |  |  |  | (5,927 | ) |  |  | (36,664 | ) |  |  | 29,943 |  |  |  | 147,243 |
Hybrids |  |  | 5,205 |  |  |  | — |  |  |  | (24 | ) |  |  | — |  |  |  | — |  |  |  | 5,181 |
Municipals |  |  | — |  |  |  | (2 | ) |  |  | 72 |  |  |  | 10,177 |  |  |  | (10,192 | ) |  |  | 55 |
Agency residential mortgage-backed securities |  |  | 3,312 |  |  |  | — |  |  |  | 18 |  |  |  | — |  |  |  | (3,330 | ) |  |  | — |
Non-agency residential mortgage-backed securities |  |  | 3,759 |  |  |  | (126 | ) |  |  | 4 |  |  |  | (777 | ) |  |  | (2,245 | ) |  |  | 615 |
Total assets at Level 3 fair value |  | $ | 546,478 |  |  | $ | 41,079 |  |  | $ | 1,128 |  |  | $ | 335,812 |  |  | $ | 28,673 |  |  | $ | 953,170 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
FIA embedded derivatives, included in contractholder funds |  | $ | (1,396,340 | ) |  | $ | (90,125 | ) |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (1,486,465 | )
Available-for-sale embedded derivatives |  |  | (400 | ) |  |  | 400 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Equity conversion feature of preferred stock |  |  | (75,350 | ) |  |  | (124,010 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (199,360 | )
Total liabilities at Level 3 fair value |  | $ | (1,472,090 | ) |  | $ | (213,735 | ) |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (1,685,825 | )
(a) | The net transfers in and out of Level 3 during the three and nine month periods ended July 1, 2012 were exclusively to or from Level 2.
|  | Three and Nine Month Periods Ended July 3, 2011 |
|  | Balance at FGL Acquisition Date |  |  | Total Gains (Losses) |  |  | Net Purchases, Sales & Settlements |  |  | Net Transfer In (Out) of Level 3 (a) |  |  | Balance at End of Period |
|  |  | Included in Earnings |  |  | Included in AOCI |  |  |  |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed maturity securities, available-for-sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Asset-backed securities |  | $ | 399,967 |  |  | $ | — |  |  | $ | 6,385 |  |  | $ | (8,128 | ) |  | $ | (10,206 | ) |  | $ | 388,018 |
Corporates |  |  | 188,439 |  |  |  | — |  |  |  | 10,722 |  |  |  | (2,635 | ) |  |  | — |  |  |  | 196,526 |
Hybrids |  |  | 8,305 |  |  |  | — |  |  |  | (38 | ) |  |  | — |  |  |  | (3,038 | ) |  |  | 5,229 |
Agency residential mortgage-backed securities |  |  | 3,271 |  |  |  | — |  |  |  | (8 | ) |  |  | — |  |  |  | — |  |  |  | 3,263 |
Non-agency residential mortgage-backed securities |  |  | 18,519 |  |  |  | — |  |  |  | 2,351 |  |  |  | (1,119 | ) |  |  | — |  |  |  | 19,751 |
Total assets at Level 3 fair value |  | $ | 618,501 |  |  | $ | — |  |  | $ | 19,412 |  |  | $ | (11,882 | ) |  | $ | (13,244 | ) |  | $ | 612,787 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
FIA embedded derivatives, included in contractholder funds |  | $ | (1,466,308 | ) |  | $ | 21,802 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (1,444,506 | )
Available-for-sale embedded derivatives |  |  | (419 | ) |  |  | 8 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (411 | )
Equity conversion feature of preferred stock |  |  | — |  |  |  | 5,960 |  |  |  | — |  |  |  | (85,700 | ) |  |  | — |  |  |  | (79,740 | )
Total liabilities at Level 3 fair value |  | $ | (1,466,727 | ) |  | $ | 27,770 |  |  | $ | — |  |  | $ | (85,700 | ) |  | $ | — |  |  | $ | (1,524,657 | )
(a) | The net transfers in and out of Level 3 during the three and nine month periods ended July 3, 2011 were exclusively to or from Level 2.
The gross components of purchases, sales, and settlements, net, of Level 3 financial instruments |
|  | Three Month Period Ended July 1, 2012 |
|  | Purchases |  |  | Sales |  |  | Settlements |  |  | Net Purchases, Sales & Settlements |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed maturity, securities available-for-sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Asset-backed securities |  | $ | 262,536 |  |  | $ | — |  |  | $ | (10,991 | ) |  | $ | 251,545 |
Corporates |  |  | — |  |  |  | (7,713 | ) |  |  | (2,034 | ) |  |  | (9,747 | )
Non-agency residential mortgage-backed securities |  |  | — |  |  |  | (475 | ) |  |  | (88 | ) |  |  | (563 | )
Total assets at Level 3 fair value |  | $ | 262,536 |  |  | $ | (8,188 | ) |  | $ | (13,113 | ) |  | $ | 241,235 |
|  | Nine Month Period Ended July 1, 2012 |
|  | Purchases |  |  | Sales |  |  | Settlements |  |  | Net Purchases, Sales & Settlements |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed maturity, securities available-for-sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Asset-backed securities |  | $ | 394,887 |  |  | $ | — |  |  | $ | (31,811 | ) |  | $ | 363,076 |
Corporates |  |  | 1,326 |  |  |  | (24,398 | ) |  |  | (13,592 | ) |  |  | (36,664 | )
Municipals |  |  | 10,197 |  |  |  | — |  |  |  | (20 | ) |  |  | 10,177 |
Non-agency residential mortgage-backed securities |  |  | — |  |  |  | (475 | ) |  |  | (302 | ) |  |  | (777 | )
Total assets at Level 3 fair value |  | $ | 406,410 |  |  | $ | (24,873 | ) |  | $ | (45,725 | ) |  | $ | 335,812 |
|  | Three and Nine Month Periods Ended July 3, 2011 |
|  | Purchases |  |  | Sales |  |  | Settlements |  |  | Net Purchases, Sales & Settlements |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed maturity, securities available-for-sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Asset-backed securities |  | $ | — |  |  | $ | — |  |  | $ | (8,128 | ) |  | $ | (8,128 | )
Corporates |  |  | — |  |  |  | — |  |  |  | (2,635 | ) |  |  | (2,635 | )
Municipals |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Non-agency residential mortgage-backed securities |  |  | — |  |  |  | — |  |  |  | (1,119 | ) |  |  | (1,119 | )
Total assets at Level 3 fair value |  | $ | — |  |  | $ | — |  |  | $ | (11,882 | ) |  | $ | (11,882 | )
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity conversion option of preferred stock |  | $ | — |  |  | $ | (85,700 | ) |  | $ | — |  |  | $ | (85,700 | )

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- Definition Fair value measurement with unobservable inputs reconciliation recurring basis asset purchases sales issuances settlements. + References No definition available. + Details
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- Definition Tabular disclosure of the inputs and valuation techniques used to measure fair value, and a discussion of changes in valuation techniques and related inputs, if any, used to measure similar assets in prior periods (non-recurring basis) by class of asset or liability. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 33 -Subparagraph d -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19190-110258 + Details
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