Humana 2012 Annual Report Download - page 114

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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, 2012 and 2011, 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, 2012
Cash equivalents ................................. $ 1,177 $1,177 $ 0 $ 0
Debt securities:
U.S. Treasury and other U.S. government
corporations and agencies:
U.S. Treasury and agency obligations ........ 618 0 618 0
Mortgage-backed securities ................ 1,603 0 1,603 0
Tax-exempt municipal securities ................ 3,071 0 3,058 13
Mortgage-backed securities:
Residential ............................. 34 0 34 0
Commercial ............................. 659 0 659 0
Asset-backed securities ........................ 68 0 67 1
Corporate debt securities ...................... 3,794 0 3,770 24
Total debt securities .................. 9,847 0 9,809 38
Total invested assets .......................... $11,024 $1,177 $9,809 $38
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
Total debt securities .................. 9,453 0 9,412 41
Total invested assets .......................... $10,658 $1,205 $9,412 $41
There were no material transfers between Level 1 and Level 2 during 2012 or 2011.
104