Health Net 2000 Annual Report Download - page 42

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40 HEALTH NET 2000 Annual Report
At December 31, 2000, the contractual maturities
of the Company’s available-for-sale investments were as
follows (amounts in thousands):
Estimated
Cost Fair Value
Due in one year or less $130,068 $125,770
Due after one year
through five years 241,087 239,947
Due after five years
through ten years 54,116 54,336
Due after ten years 66,547 66,849
Total available for sale $491,818 $486,902
Proceeds from sales and maturities of investments
available for sale during 2000 were $304.5 million, result-
ing in realized gains and losses of $.04 million and $.1
million, respectively. Proceeds from sales and maturities of
investments available for sale during 1999 were $642.2 mil-
lion, resulting in realized gains and losses of $.7 million
and $.1 million, respectively. Proceeds from sales and
maturities of investments available for sale during 1998
were $727.4 million, resulting in realized gains and losses
of $3.6 million and $0.3 million, respectively.
NOTE 5 – Property and Equipment
Property and equipment comprised the following at
December 31 (amounts in thousands):
2000 1999
Land $ 20,700 $ 20,645
Construction in progress 2,082 18,930
Buildings and improvements 126,702 111,936
Furniture, equipment and
software 541,654 473,042
691,138 624,553
Less accumulated depreciation 395,129 343,824
$296,009 $280,729
NOTE 4 – Investments
As of December 31, the amortized cost, gross unrealized holding gains and losses and fair value of the Company’s
available-for-sale investments were as follows (amounts in thousands):
2000
Gross Gross
Unrealized Unrealized
Amortized Holding Holding Carrying
Cost Gains Losses Value
Asset-backed securities $108,308 $ 564 $ (149) $108,723
U.S. government and agencies 78,953 436 (100) 79,289
Obligations of states and other political subdivisions 103,168 506 (80) 103,594
Corporate debt securities 90,525 555 (3,186) 87,894
Other securities 110,864 750 (4,212) 107,402
$491,818 $2,811 $(7,727) $486,902
1999
Gross Gross
Unrealized Unrealized
Amortized Holding Holding Carrying
Cost Gains Losses Value
Asset-backed securities $116,628 $ 5 $(1,600) $115,033
U.S. government and agencies 98,998 13 (1,645) 97,366
Obligations of states and other political subdivisions 138,830 10 (833) 138,007
Corporate debt securities 69,602 8 (1,209) 68,401
Other securities 37,808 8 (20) 37,796
$461,866 $44 $(5,307) $456,603