Health Net 2014 Annual Report Download - page 140
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HEALTH NET, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
F-30
securities is primarily due to market volatility. Generally, in a rising interest rate environment, the estimated fair value
of fixed income securities would be expected to decrease; conversely, in a decreasing interest rate environment, the
estimated fair value of fixed income securities would be expected to increase. These securities may also be negatively
impacted by illiquidity in the market.
The following table shows our current investments' fair values and gross unrealized losses for individual
securities in a continuous loss position as of December 31, 2014:
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 ................ $ 149.3 $ (0.5) $ 112.5 $ (1.4) $ 261.8 $ (1.9)
U.S. government and agencies..... 20.7 — — — 20.7 —
Obligations of states and other
political subdivisions.................... 37.3 (0.1) 104.8 (1.6) 142.1 (1.7)
Corporate debt securities.............. 299.1 (3.9) 56.0 (1.4) 355.1 (5.3)
$ 506.4 $ (4.5) $ 273.3 $ (4.4) $ 779.7 $ (8.9)
The following table shows our noncurrent investments' fair values and gross unrealized losses for individual
securities that have been in a continuous loss position through December 31, 2014:
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 ................ $ — $ — $ 0.6 $ (0.2) $ 0.6 $ (0.2)
Corporate debt securities.............. 4.0 (0.7) — — 4.0 (0.7)
$ 4.0 $ (0.7) $ 0.6 $ (0.2) $ 4.6 $ (0.9)
The following table shows the number of our individual securities-current that have been in a continuous loss
position at December 31, 2014:
Less than
12 Months 12 Months
or More Total
Asset-backed securities............................................................................... 124 51 175
U.S. government and agencies.................................................................... 4 — 4
Obligations of states and other political subdivisions ................................ 21 46 67
Corporate debt securities ............................................................................ 320 69 389
469 166 635