HCA Holdings 2011 Annual Report Download - page 129
Download and view the complete annual report
Please find page 129 of the 2011 HCA Holdings annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119 -
120 -
121 -
122 -
123 -
124 -
125 -
126 -
127 -
128 -
129 -
130 -
131 -
132 -
133 -
134 -
135 -
136 -
137 -
138 -
139 -
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
 |
 |
HCA HOLDINGS, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
NOTE 7 — INVESTMENTS OF INSURANCE SUBSIDIARIES (Continued)
2010
Amortized
Cost
Unrealized
Amounts Fair
ValueGains Losses
Debt securities:
States and municipalities .................................. $312 $12 $ (1) $ 323
Auction rate securities .................................... 251 — (1) 250
Asset-backed securities .................................... 26 1 (1) 26
Money market funds ...................................... 135 — — 135
724 13 (3) 734
Equity securities ........................................... 8 1 (1) 8
$732 $14 $ (4) 742
Amounts classified as current assets ............................ (100)
Investment carrying value .................................... $642
At December 31, 2011 and 2010 the investments of our insurance subsidiaries were classified as
“available-for-sale.” Changes in temporary unrealized gains and losses are recorded as adjustments to other
comprehensive income (loss). At December 31, 2011 and 2010, $19 million and $92 million, respectively, of our
investments were subject to the restrictions included in insurance bond collateralization and assumed reinsurance
contracts.
Scheduled maturities of investments in debt securities at December 31, 2011 were as follows (dollars in
millions):
Amortized
Cost
Fair
Value
Due in one year or less ............................................... $101 $102
Due after one year through five years ................................... 112 119
Due after five years through ten years ................................... 143 151
Due after ten years .................................................. 95 98
451 470
Auction rate securities ............................................... 139 131
Asset-backed securities ............................................... 20 20
$610 $621
The average expected maturity of the investments in debt securities at December 31, 2011 was 4.4 years,
compared to the average scheduled maturity of 10.8 years. Expected and scheduled maturities may differ because
the issuers of certain securities have the right to call, prepay or otherwise redeem such obligations prior to their
scheduled maturity date. The average expected maturities for our auction rate and asset-backed securities were
derived from valuation models of expected cash flows and involved management’s judgment. The average
expected maturities for our auction rate and asset-backed securities at December 31, 2011 were 4.9 years and
4.8 years, respectively, compared to average scheduled maturities of 24.9 years and 24.8 years, respectively.
F-24