Health Net 2010 Annual Report Download - page 120

HEALTH NET, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
As of December 31, 2010, the contractual maturities of our current investments available-for-sale were as
follows:
Amortized
Cost
Estimated
Fair Value
(Dollars in millions)
Due in one year or less ...................................................... $ 34.3 $ 34.6
Due after one year through five years .......................................... 494.6 499.2
Due after five years through ten years .......................................... 311.1 313.9
Due after ten years ......................................................... 171.3 167.3
Asset-backed securities ..................................................... 642.3 648.2
Other securities ........................................................... 0 0
Total available-for-sale ..................................................... $1,653.6 $1,663.2
As of December 31, 2010, the contractual maturities of our investments available-for-sale—noncurrent were
as follows:
Amortized
Cost
Estimated
Fair Value
(Dollars in millions)
Due in one year or less ...................................................... $ 0 $ 0
Due after one year through five years .......................................... 0 0
Due after five years through ten years .......................................... 0 0
Due after ten years ......................................................... 10.5 8.8
Asset-backed securities ..................................................... 0 0
Other securities ........................................................... 0 0
Total available-for-sale ..................................................... $10.5 $8.8
Proceeds from sales of investments available-for-sale during 2010 were $1,119.0 million. Gross realized
gains and losses totaled $25.1 million and $2.1 million, respectively. Proceeds from sales of investments
available-for-sale during 2009 were $1,785.7 million. Gross realized gains and losses totaled $50.2 million and
$4.9 million, respectively. Included in the 2009 gross realized losses is an other-than-temporary impairment
write-down of $60,000.
The following table shows our current investments’ fair values and gross unrealized losses for individual
securities that have been in a continuous loss position through December 31, 2010:
Less than 12 Months 12 Months or More Total
Fair
Value
Unrealized
Losses
Fair
Value
Unrealized
Losses
Fair
Value
Unrealized
Losses
(Dollars in millions)
Asset-backed securities ...................... $188.2 $ (2.2) $0.2 $ 0 $188.4 $ (2.2)
U.S. government and agencies ................. 65.1 (0.4) 0 0 65.1 (0.4)
Obligations of states and other political
subdivisions ............................. 372.7 (8.0) 1.8 (0.1) 374.5 (8.1)
Corporate debt securities ..................... 97.9 (1.8) 0 0 97.9 (1.8)
Other securities ............................. 0 0 0 0 0 0
$723.9 $(12.4) $2.0 $(0.1) $725.9 $(12.5)
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