Company: HUM
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0000049071-25-000007
Chunk: 35

Company: HUMANA INC
Filing Date: 2025-02-20
Form: 10-K
Item: Item 8
Chunk 35
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2024. The swap liability, included within other long-term liabilities on our consolidated balance sheet, was approximately $129 million at December 31, 2024. The swap asset, included within other long-term assets on our consolidated balance sheet, was approximately $68 million at December 31, 2023. We include the gain or loss on the swap agreements in interest expense on our consolidated statement of income, the same line item as the offsetting loss or gain on the related senior notes. The gain or loss due to hedge ineffectiveness was not material for the year ended December 31, 2024. 

90

Humana Inc.NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)

The following table summarizes the notional amounts at December 31, 2024 and December 31, 2023, respectively, for our senior notes under the swap agreements:Notional amount at Senior Notes Under Swap Agreements December 31, 2024December 31, 2023(in millions)$750 million, 5.875% due March 1, 2033$650 $650 $850 million, 5.950% due March 15, 2034800 400 $500 million, 3.950% due August 15, 2049450 450 $750 million, 5.500% due March 15, 2053700 300 $400 million, 4.625% due December 1, 2042400 — $750 million, 4.950% due October 1, 2044400 — $1,250 million, 5.375% due April, 15, 2031700 — $400 million, 4.800% due March 15, 2047200 — $1,000 million, 5.750% due April 15, 2054700 — Financial LiabilitiesOur debt is recorded at carrying value in our consolidated balance sheets. The carrying value of our senior notes debt outstanding, net of unamortized debt issuance costs, was $11.7 billion at December 31, 2024 and $10.8 billion at December 31, 2023. The fair value of our senior note debt was $11.2 billion at December 31, 2024 and $10.6 billion at December 31, 2023. The fair value