Humana 2011 Annual Report Download - page 111

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Humana Inc.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
5. FAIR VALUE
Financial Assets
The following table summarizes our fair value measurements at December 31, 2011 and 2010, respectively,
for financial assets measured at fair value on a recurring basis:
Fair Value Measurements Using
Fair Value
Quoted Prices in
Active Markets
(Level 1)
Other
Observable
Inputs
(Level 2)
Unobservable
Inputs
(Level 3)
(in millions)
December 31, 2011
Cash equivalents ............................... $ 1,205 $1,205 $ 0 $ 0
Debt securities:
U.S. Treasury and other U.S. government
corporations and agencies:
U.S. Treasury and agency obligations ....... 725 0 725 0
Mortgage-backed securities ............... 1,784 0 1,784 0
Tax-exempt municipal securities ............... 2,856 0 2,840 16
Mortgage-backed securities:
Residential ............................ 44 0 44 0
Commercial ........................... 381 0 381 0
Asset-backed securities ...................... 83 0 82 1
Corporate debt securities ..................... 3,580 0 3,556 24
Redeemable preferred stock .................. 0 0 0 0
Total debt securities ................. 9,453 0 9,412 41
Securities lending invested collateral ............... 0 0 0 0
Total invested assets ........................ $10,658 $1,205 $9,412 $41
December 31, 2010
Cash equivalents ............................... $ 1,606 $1,606 $ 0 $ 0
Debt securities:
U.S. Treasury and other U.S. government
corporations and agencies:
U.S. Treasury and agency obligations ....... 712 0 712 0
Mortgage-backed securities ............... 1,664 0 1,664 0
Tax-exempt municipal securities ............... 2,433 0 2,381 52
Mortgage-backed securities:
Residential ............................ 56 0 56 0
Commercial ........................... 321 0 321 0
Asset-backed securities ...................... 150 0 148 2
Corporate debt securities ..................... 3,032 0 3,025 7
Redeemable preferred stock .................. 5 0 0 5
Total debt securities ................. 8,373 0 8,307 66
Securities lending invested collateral ............... 50 25 25 0
Total invested assets ........................ $10,029 $1,631 $8,332 $66
There were no material transfers between Level 1 and Level 2 during 2011, 2010, or 2009.
101