Centene Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2019

Fair Value Measurements by Level for Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table summarizes fair value measurements by level at March 31, 2019, for assets and liabilities measured at fair value on a recurring basis ($ in millions):



	Level I		Level II		Level III		Total
Assets
Cash and cash equivalents	$	6,345	$	—	$	—	$	6,345
Investments available for sale:
U.S. Treasury securities and obligations of U.S. government corporations and agencies	$	149	$	—	$	—	$	149
Corporate securities	—		3,342		—		3,342
Municipal securities	—		2,290		—		2,290
Asset-backed securities	—		728		—		728
Residential mortgage-backed securities	—		455		—		455
Commercial mortgage-backed securities	—		380		—		380
Total investments	$	149	$	7,195	$	—	$	7,344
Restricted deposits available for sale:
Cash and cash equivalents	$	6	$	—	$	—	$	6
Certificates of deposit	—		474		—		474
U.S. Treasury securities and obligations of U.S. government corporations and agencies	102		—		—		102
Total restricted deposits	$	108	$	474	$	—	$	582

Total assets at fair value	$	6,602	$	7,669	$	—	$	14,271
Liabilities
Other long-term liabilities:
Interest rate swap agreements	$	—	$	61	$	—	$	61
Total liabilities at fair value	$	—	$	61	$	—	$	61

The following table summarizes fair value measurements by level at December 31, 2018, for assets and liabilities measured at fair value on a recurring basis ($ in millions):



	Level I		Level II		Level III		Total
Assets
Cash and cash equivalents	$	5,342	$	—	$	—	$	5,342
Investments available for sale:
U.S. Treasury securities and obligations of U.S. government corporations and agencies	$	247	$	—	$	—	$	247
Corporate securities	—		3,146		—		3,146
Municipal securities	—		2,187		—		2,187
Asset-backed securities	—		683		—		683
Residential mortgage-backed securities	—		444		—		444
Commercial mortgage-backed securities	—		361		—		361
Total investments	$	247	$	6,821	$	—	$	7,068
Restricted deposits available for sale:
Cash and cash equivalents	$	8	$	—	$	—	$	8
Certificates of deposit	—		433		—		433
U.S. Treasury securities and obligations of U.S. government corporations and agencies	114		—		—		114
Total restricted deposits	$	122	$	433	$	—	$	555

Total assets at fair value	$	5,711	$	7,254	$	—	$	12,965
Liabilities
Other long-term liabilities:
Interest rate swap agreements	$	—	$	95	$	—	$	95
Total liabilities at fair value	$	—	$	95	$	—	$	95