116 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS OF AEGON N.V.  NOTE 3 1  Includes impairments and movements related to fair value hedges. 2  Total gains / (losses) for the period during which the financial instrument was in Level III. During 2010, AEGON transferred certain financial instruments  from Levels I and II to Level III of the fair value hierarchy.  The amount of the total assets transferred was EUR 722 million  (2009: EUR 444 million). The reason for the change in level was  that the market for these securities had become inactive, which  led to a change in market observability of prices. Prior to transfer,  the fair value for the Level I and II securities was determined  using observable market transactions or corroborated broker  quotes for the same or similar instruments. Since transfer,  all such assets have been valued using valuation models  incorporating significant non market-observable inputs. Similarly, during 2010, AEGON transferred certain financial  instruments from Level III to other levels of the fair value  hierarchy. The recorded amount of the total assets transferred  was EUR 1,600 million (2009: EUR 2,575 million). The change in  level was mainly the result of a return of activity in the market  for these securities. The total net amount of gains recognized in the income  statement on Level III financial instruments amount to  EUR 161 million (pre-tax) (2009: EUR 1,125 million).  Financial assets  carried at fair value At January 1, 2009 Total  gains /  (losses)  in  income  state  ment  1 Total gains /  (losses) in OCI Pur- chases Sales Settle- ments Net ex- change  differ- ences Trans- fers  from  Levels I  and II Trans- fers to  Levels I  and II At  Decem- ber  31, 2009 Total gains  or losses for  the period  included in  profit and loss  for assets held  at December  31, 2009  2 Available-for-sale  investments Shares 729 115 (295) 264 (363) – (7) – – 443 – Debt securities 6,234 (341) 930 847 (358) (727) (130) 343 (2,464) 4,334 – Money market and  other short-term  instruments 61 – – – (51) – – – – 10 – Other investments at  fair value 841 (141) (22) 230 (35) (2) (29) – – 842 – 7,865 (367) 613 1,341 (807) (729) (166) 343 (2,464) 5,629 – Fair value through  profi t or loss Shares 73 4 – – (62) – (1) – – 14 1 Debt securities 217 (11) 9 – (66) (7) 2 6 (8) 142 5 Other investments at  fair value 1,379 (216) – 126 (160) – (41) 95 (103) 1,080 (233) Investments for account  of policyholders 3,344 (196) – 480 (840) – (12) – – 2,776 (25) Derivatives 296 (129) – 18 (2) (34) 21 – – 170 (118) 5,309 (548) 9 624 (1,130) (41) (31) 101 (111) 4,182 (370) Financial liabilities  carried at fair value Investment contracts (2,410) 1,265 – – – – – – – (1,145) 1,265 Investment contracts  for account of  policyholders (301) 31 – (287) 20 – 16 – – (521) – Derivatives (2,354) 744 – (3) 36 – (106) – – (1,683) (32) (5,065) 2,040 – (290) 56 – (90) – – (3,349) 1,233