Humana 2009 Annual Report Download - page 96

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Humana Inc.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
5. FAIR VALUE
The following table summarizes our fair value measurements at December 31, 2009 and 2008, respectively,
for financial assets measured at fair value on a recurring basis:
Fair Value
Fair Value Measurements Using
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)
Significant Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
(in thousands)
December 31, 2009
Cash equivalents ........................... $1,507,490 $1,507,490 $ — $ —
Debt securities:
U.S. Treasury and other U.S. government
corporations and agencies:
U.S. Treasury and agency obligations . . . 1,009,352 — 1,009,352 —
Mortgage-backed securities ........... 1,688,663 — 1,688,663 —
Tax-exempt municipal securities ........... 2,224,041 — 2,155,227 68,814
Mortgage-backed securities:
Residential ........................ 95,412 — 95,412 —
Commercial ....................... 279,626 — 279,626 —
Asset-backed securities .................. 107,188 — 105,060 2,128
Corporate debt securities ................. 2,079,568 — 2,071,087 8,481
Redeemable preferred stock ............... 13,300 — — 13,300
Total debt securities ............. 7,497,150 — 7,404,427 92,723
Securities lending invested collateral ............ 119,586 — 119,586 —
Total invested assets .................... $9,124,226 $1,507,490 $7,524,013 $92,723
December 31, 2008
Cash equivalents ........................... $1,549,966 $1,549,966 $ — $ —
Debt securities:
U.S. Treasury and other U.S. government
corporations and agencies:
U.S. Treasury and agency obligations . . . 599,898 — 599,898 —
Mortgage-backed securities ........... 1,297,705 — 1,297,705 —
Tax-exempt municipal securities ........... 1,689,462 — 1,615,808 73,654
Mortgage-backed securities:
Residential ........................ 347,308 — 347,308 —
Commercial ....................... 260,299 — 260,299 —
Asset-backed securities .................. 144,370 — 144,370 —
Corporate debt securities ................. 855,827 — 847,605 8,222
Redeemable preferred stock ............... 10,050 — — 10,050
Total debt securities ............. 5,204,919 — 5,112,993 91,926
Equity securities ............................ 10,523 10,523 — —
Securities lending invested collateral ............ 402,399 — 402,399 —
Total invested assets ................ $7,167,807 $1,560,489 $5,515,392 $91,926
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