Cigna 2009 Annual Report Download - page 165

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C. Other Long-term Investments
As of December 31, other long-term investments consisted of the following:
(In millions) 2009 2008
Real estate entities $ 289 $ 321
Securities partnerships 272 242
Interest rate and foreign currency swaps 16 45
Mezzanine loans 13 21
Other 5 3
Total $ 595 $ 632
Investments in real estate entities and securities partnerships with a carrying value of $121 million at December 31, 2009 and $96
million at December 31, 2008 were non-income producing during the preceding twelve months.
As of December 31, 2009, the Company had commitments to contribute:
x $253 million to limited liability entities that hold either real estate or loans to real estate entities that are diversified by property
type and geographic region; and
x $338 million to entities that hold securities diversified by issuer and maturity date.
The Company expects to disburse approximately 40% of the committed amounts in 2010 and the remaining amounts by 2015.
D. Short-Term Investments and Cash Equivalents
Short-term investments and cash equivalents included corporate securities of $624 million, federal government securities of $402
million and money market funds of $104 million at December 31, 2009. The Company’s short-term investments and cash equivalents
at December 31, 2008 included corporate securities of $1.1 billion, federal government securities of $126 million and money market
funds of $147 million.
E. Concentration of Risk
As of December 31, 2009 and 2008, the Company did not have a concentration of investments in a single issuer or borrower
exceeding 10% of shareholders’ equity.