The following table summarizes the recognition of unrealized gains and/or losses recorded as other comprehensive income as  well as other than temporary valuation impairment as of December 31 (dollars in thousands): Due to the expected timing of future cash flows relating to the Residuals, the independent specialist's valuation adjusted certain  of the valuation assumptions. In connection with the independent valuations of the Residuals’ fair value, during the years ended  December 31, 2013, 2012 and 2011, NNN recorded an other than temporary valuation adjustment as a reduction of earnings  from operations. The following table summarizes the key assumptions used in determining the value of the Residuals as of  December 31: The following table shows the effects on the key assumptions affecting the fair value of the Residuals at December 31, 2013  (dollars in thousands): These sensitivities are hypothetical and should be used with caution. As the figures indicate, changes in fair value based on  variations in assumptions generally cannot be extrapolated because the relationship of the change in assumption to the change  in fair value may not be linear. Also, in this table, the effect of a variation of a particular assumption on the fair value of the   60 2013 2012 2011 Unrealized gains $ 511 $ 1,132 $ — Unrealized losses — — 246 Other than temporary valuation impairment 1,185 2,812 1,024 2013 2012 Discount rate 20% 25% Average life equivalent CPR$^{(1)}$ speeds range 0.80% to 20.76% CPR 0.80% to 24.31% CPR Foreclosures: Frequency curve default model 0.07% - 2.43% range 0.09% - 4.49% range Loss severity of loans in foreclosure 20% 20% Yield: LIBOR Forward 3-month curve Forward 3-month curve Prime Forward curve Forward curve $^{(1)}$  Conditional prepayment rate Residuals Carrying amount of retained interests $ 11,721 Discount rate assumption: Fair value at 25% discount rate $ 9,859 Fair value at 27% discount rate $ 9,208 Prepayment speed assumption: Fair value of 1% increases above the CPR Index $ 11,719 Fair value of 2% increases above the CPR Index $ 11,717 Expected credit losses: Fair value 2% adverse change $ 11,502 Fair value 3% adverse change $ 11,404 Yield Assumptions: Fair value of Prime/LIBOR spread contracting 25 basis points $ 11,999 Fair value of Prime/LIBOR spread contracting 50 basis points $ 12,267