Humana 2011 Annual Report Download - page 108

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Humana Inc.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
4. INVESTMENT SECURITIES
Investment securities classified as current and long-term were as follows at December 31, 2011 and 2010,
respectively:
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses Fair Value
(in millions)
December 31, 2011
U.S. Treasury and other U.S. government corporations and
agencies:
U.S. Treasury and agency obligations ................. $ 705 $ 20 $ 0 $ 725
Mortgage-backed securities ......................... 1,701 85 (2) 1,784
Tax-exempt municipal securities ......................... 2,709 149 (2) 2,856
Mortgage-backed securities:
Residential ...................................... 46 0 (2) 44
Commercial ..................................... 356 25 0 381
Asset-backed securities ................................ 82 1 0 83
Corporate debt securities ............................... 3,329 262 (11) 3,580
Total debt securities ........................... $8,928 $542 $(17) $9,453
December 31, 2010
U.S. Treasury and other U.S. government corporations and
agencies:
U.S. Treasury and agency obligations ................. $ 698 $ 14 $ 0 $ 712
Mortgage-backed securities ......................... 1,615 50 (1) 1,664
Tax-exempt municipal securities ......................... 2,440 37 (44) 2,433
Mortgage-backed securities:
Residential ...................................... 58 1 (3) 56
Commercial ..................................... 306 15 0 321
Asset-backed securities ................................ 148 2 0 150
Corporate debt securities ............................... 2,906 140 (14) 3,032
Redeemable preferred stock ............................. 5 0 0 5
Total debt securities ........................... $8,176 $259 $(62) $8,373
We participated in a securities lending program where we loaned certain investment securities for short
periods of time in exchange for collateral, consisting of cash or U.S. Government securities, initially equal to at
least 102% of the fair value of the investment securities on loan. We terminated the securities lending program in
the fourth quarter of 2011. Investment securities with a fair value of $54 million at December 31, 2010 were on
loan.
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