Gains (Losses) Included in: (In thousands) Beginning Balance Earnings (Losses) Other Comprehensive Income (Losses) Impairments Purchases Sales Paydowns/Maturities Transfers In / Out Ending Balance Year ended December 31, 2020 Assets: Fixed maturity securities available for sale: Corporate $ —  $ —  $ —  $ —  $ —  $ —  $ —  $ 1,000  $ 1,000  Total —  —  —  —  —  —  —  1,000  1,000  Equity securities: Common stocks 9,053  1,228  —  —  —  (1,066) —  —  9,215  Preferred stocks 6,505  (174) —  —  3,000  —  —  —  9,331  Total 15,558  1,054  —  —  3,000  (1,066) —  —  18,546  Arbitrage trading account —  19  —  —  —  (19) —  —  —  Total $ 15,558  $ 1,073  $ —  $ —  $ 3,000  $ (1,085) $ —  $ 1,000  $ 19,546  Year ended December 31, 2019 Assets: Fixed maturity securities available for sale: Asset-backed securities $ 99  $ (26) $ 61  $ —  $ —  $ (134) $ —  $ —  $ —  Total 99  (26) 61  —  —  (134) —  —  —  Equity securities: Common stocks 8,596  2,005  —  —  —  (1,548) —  —  9,053  Preferred stocks 3,945  (42) —  —  2,602  —  —  —  6,505  Total 12,541  1,963  —  —  2,602  (1,548) —  —  15,558  Arbitrage trading account 17,308  (8,731) —  —  14,767  (38,233) —  14,889  —  Total $ 29,948  $ (6,794) $ 61  $ —  $ 17,369  $ (39,915) $ —  $ 14,889  $ 15,558  Liabilities: Trading account securities sold but not yet purchased $ 793  $ 133  $ —  $ —  $ 7,609  $ (8,535) $ —  $ —  $ —  The following tables summarize changes in Level 3 assets and liabilities for the years ended December 31, 2020 and 2019: For the year ended December 31, 2020, a fixed maturity security was transferred from Level 2 into Level 3 as a result of observable valuation inputs no longer being available. For the year ended December 31, 2019, there were two common stocks transferred into Level 3 in the arbitrage trading account where publicly traded prices were no longer available, and both were sold by year end. 78