Health Net 2009 Annual Report Download - page 118

HEALTH NET, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
2008
Amortized
Cost
Gross
Unrealized
Holding
Gains
Gross
Unrealized
Holding
Losses
Carrying
Value
(Dollars in millions)
Asset-backed securities ................................... $ 527.4 $ 9.8 $(17.2) $ 520.0
U.S. government and agencies ............................. 69.5 0.5 — 70.0
Obligations of states and other political subdivisions ........... 577.9 7.3 (9.8) 575.4
Corporate debt securities ................................. 341.1 3.4 (5.8) 338.7
Other securities ......................................... 0.4 0.2 — 0.6
$1,516.3 $21.2 $(32.8) $1,504.7
As of December 31, 2009, 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 ...................................................... $ 41.9 $ 42.3
Due after one year through five years .......................................... 288.0 290.9
Due after five years through ten years .......................................... 296.1 298.7
Due after ten years ......................................................... 199.3 200.1
Asset-backed securities ..................................................... 546.8 544.0
Other securities ........................................................... — 0.1
Total available-for-sale ..................................................... $1,372.1 $1,376.1
As of December 31, 2009, 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 ...................................................... $— $—
Due after one year through five years .......................................... — —
Due after five years through ten years .......................................... — —
Due after ten years ......................................................... — —
Asset-backed securities ..................................................... 23.6 20.9
Other securities ........................................................... — —
Total available-for-sale ..................................................... $23.6 $20.9
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. Proceeds from sales of investments available for
sale during 2008 were $1,219.3 million. Gross realized gains and losses totaled $10.5 million and $14.9 million,
respectively. Included in the 2008 gross realized losses is an other-than-temporary impairment write-down of
$14.6 million.
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