Health Net 2004 Annual Report Download - page 107

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HEALTH NET, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
Note 4—Investments
As of December 31, 2004 and 2003 the amortized cost, gross unrealized holding gains and losses, and fair value of our
available-for-sale investments were as follows:
As of December 31, 2004, the contractual maturities of our available-for-sale investments were as follows:
Proceeds from sales of investments available for sale during 2004 were $282.5 million, resulting in realized gains and losses of
$4.6 million and $0.4 million, respectively. Proceeds from sales of investments available for sale during 2003 were $295.0 million,
resulting in realized gains and losses of $12.4 million and $0.4 million,
F-21
2004
Amortized
Cost
Gross
Unrealized
Holding
Gains
Gross
Unrealized
Holding
Losses
Carrying
Value
(Amounts in thousands)
Mortgage-backed securities
$379,056
$769
$(2,945)
$376,880
U.S. government and agencies
446,037
719
(2,855)
443,901
Obligations of states and other political subdivisions
34,769
272
(115) 34,926
Corporate debt securities
204,632
1,013
(1,378)
204,267
Other securities
6
21
(1)
26
$1,064,500
$2,794
$(7,294)
$1,060,000
2003
Amortized
Cost
Gross
Unrealized
Holding
Gains
Gross
Unrealized
Holding
Losses
Carrying
Value
(
Amounts in thousands
)
Mortgage-backed securities
$361,368
$1,100
$(4,189)
$358,279
Asse
t
-backed securities
15,000
—
15,000
U.S. government and agencies
479,821
2,820
(1,291)
481,350
Obligations of states and other political subdivisions
34,295
1,087
(20)
35,362
Corporate debt securities
189,233
1,978
(915)
190,296
Other securities
1,942
561
(1)
2,502
$1,081,659
$7,546
$(6,416) $1,082,789
Cost
Estimated
Fair Value
(Amounts in thousands)
Due in one year or less
$32,287
$32,117
Due after one year through five years
535,610
533,033
Due after five years through ten years
108,252
108,648
Due after ten years
9,289
9,296
Mortgage-backed securities
379,056
376,880
Equity securities (no maturity)
6
26
Total available for sale
$1,064,500
$1,060,000