Company: HUM
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0000049071-25-000007
Chunk: 31

Company: HUMANA INC
Filing Date: 2025-02-20
Form: 10-K
Item: Item 8
Chunk 31
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1,766 (50)2,203 (459)3,969 (509)Tax-exempt municipal securities97 (1)405 (21)502 (22)Mortgage-backed securities:Residential130 (2)343 (62)473 (64)Commercial58 (1)992 (84)1,050 (85)Asset-backed securities419 (5)436 (19)855 (24)Corporate debt securities2,385 (51)4,269 (544)6,654 (595)Total debt securities$7,198 $(178)$9,104 $(1,231)$16,302 $(1,409)December 31, 2023U.S. Treasury and other U.S. government     corporations and agencies:U.S. Treasury and agency obligations$1,899 $(12)$431 $(39)$2,330 $(51)Mortgage-backed securities958 (12)2,269 (413)3,227 (425)Tax-exempt municipal securities160 (1)523 (21)683 (22)Mortgage-backed securities:Residential— — 373 (66)373 (66)Commercial18 — 1,303 (126)1,321 (126)Asset-backed securities120 (1)1,364 (43)1,484 (44)Corporate debt securities466 (2)4,783 (592)5,249 (594)Total debt securities$3,621 $(28)$11,046 $(1,300)$14,667 $(1,328)Approximately 97% of our debt securities were investment-grade quality, with a weighted average credit rating of AA- by Standard & Poor's Rating Service, or S&P at December 31, 2024. Our remaining debt securities below investment grade were primarily rated B+, the higher end of the below investment-grade rating scale. Tax-exempt 

87

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

municipal securities were diversified among general obligation bonds of states and local municipalities in the United States as well as special revenue bonds issued by municipalities to finance specific public works projects such as utilities, water and sewer, transportation, or education. Our general obligation bonds are diversified across the United States