Investment Securities (Tables)

6 Months Ended

Jun. 30, 2011

Investment Securities

Schedule of Securities Classified as Current and Long-Term

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(in thousands)
June 30, 2011
U.S. Treasury and other U.S. government corporations and agencies:
U.S. Treasury and agency obligations	$	808,985	$	14,242	$	(440	)	$	822,787
Mortgage-backed securities		1,761,438		63,358		(760	)		1,824,036
Tax-exempt municipal securities		2,437,115		63,506		(10,738	)		2,489,883
Mortgage-backed securities:
Residential		50,858		425		(1,534	)		49,749
Commercial		397,262		18,618		(917	)		414,963
Asset-backed securities		115,928		1,486		(29	)		117,385
Corporate debt securities		3,321,621		165,184		(8,285	)		3,478,520
Redeemable preferred stock		5,333		0		0			5,333
Total debt securities	$	8,898,540	$	326,819	$	(22,703	)	$	9,202,656
December 31, 2010
U.S. Treasury and other U.S. government corporations and agencies:
U.S. Treasury and agency obligations	$	697,816	$	14,412	$	(615	)	$	711,613
Mortgage-backed securities		1,614,569		49,783		(1,173	)		1,663,179
Tax-exempt municipal securities		2,439,659		37,294		(43,619	)		2,433,334
Mortgage-backed securities:
Residential		58,017		545		(2,675	)		55,887
Commercial		306,291		14,911		(171	)		321,031
Asset-backed securities		148,068		1,727		(44	)		149,751
Corporate debt securities		2,906,228		139,793		(13,710	)		3,032,311
Redeemable preferred stock		5,333		0		0			5,333
Total debt securities	$	8,175,981	$	258,465	$	(62,007	)	$	8,372,439

Schedule of Gross Unrealized Losses and Fair Values of Securities

	Less than 12 months					12 months or more					Total
			Gross					Gross					Gross
	Fair		Unrealized			Fair		Unrealized			Fair		Unrealized
	Value		Losses			Value		Losses			Value		Losses
	(in thousands)
June 30, 2011
U.S. Treasury and other U.S. government corporations and agencies:
U.S. Treasury and agency obligations	$	74,009	$	(440	)	$	0	$	0		$	74,009	$	(440	)
Mortgage-backed securities		40,023		(422	)		21,650		(338	)		61,673		(760	)
Tax-exempt municipal securities		480,854		(6,930	)		63,336		(3,808	)		544,190		(10,738	)
Mortgage-backed securities:
Residential		3,605		(59	)		26,807		(1,475	)		30,412		(1,534	)
Commercial		96,425		(905	)		156		(12	)		96,581		(917	)
Asset-backed securities		4,860		(9	)		5,059		(20	)		9,919		(29	)
Corporate debt securities		398,311		(6,499	)		14,548		(1,786	)		412,859		(8,285	)
Total debt securities	$	1,098,087	$	(15,264	)	$	131,556	$	(7,439	)	$	1,229,643	$	(22,703	)
December 31, 2010
U.S. Treasury and other U.S. government corporations and agencies:
U.S. Treasury and agency obligations	$	141,766	$	(615	)	$	0	$	0		$	141,766	$	(615	)
Mortgage-backed securities		110,358		(1,054	)		5,557		(119	)		115,915		(1,173	)
Tax-exempt municipal securities		1,168,221		(33,218	)		97,809		(10,401	)		1,266,030		(43,619	)
Mortgage-backed securities:
Residential		0		0			32,671		(2,675	)		32,671		(2,675	)
Commercial		0		0			2,752		(171	)		2,752		(171	)
Asset-backed securities		17,069		(42	)		283		(2	)		17,352		(44	)
Corporate debt securities		383,677		(9,572	)		31,464		(4,138	)		415,141		(13,710	)
Total debt securities	$	1,821,091	$	(44,501	)	$	170,536	$	(17,506	)	$	1,991,627	$	(62,007	)

Schedule of Realized Gains (Losses) Related to Investment Securities and Included with Investment Income

	For the three months ended June 30,						For the six months ended June 30,
	2011			2010			2011			2010
	(in thousands)
Gross realized gains	$	6,272		$	3,840		$	10,848		$	23,753
Gross realized losses		(5,089	)		(4,558	)		(5,739	)		(15,777	)
Net realized capital gains (losses)	$	1,183		$	(718	)	$	5,109		$	7,976

Schedule of the Contractual Maturity of Debt Securities Available For Sale

	Amortized		Fair
	Cost		Value
	(in thousands)
Due within one year	$	410,307	$	412,900
Due after one year through five years		1,993,459		2,066,110
Due after five years through ten years		2,450,596		2,547,202
Due after ten years		1,718,692		1,770,311
Mortgage and asset-backed securities		2,325,486		2,406,133
Total debt securities	$	8,898,540	$	9,202,656