Humana 1999 Annual Report Download - page 20

Download and view the complete annual report

Please find page 20 of the 1999 Humana annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 30

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30

HU M A N A IN C ./
C O N S O L I D ATED STATEMENTS OF STOCKHOLDERS’ EQUITY
Capital Deferred Accumulated
In Excess Compensation — Other Total
Common Stock of Par Restricted Retained Comprehensive Stockholders’
(In millions) Shares Amount Value Stock Earnings (Loss) Income Equity
Balances, January 1, 1997 163 $ 27 $ 824 $ (2) $ 451 $ (8) $ 1,292
Comprehensive income:
Net income 173 173
Other comprehensive income:
Net unrealized investment gains,
net of $10 tax 17 17
Comprehensive income 190
Change in deferred compensation 2 (2) —
Restricted stock amortization 1 1
Stock option exercises 1 11 11
Stock option tax benefit 7 7
Balances, December 31, 1997 164 27 844 (3) 624 9 1,501
Comprehensive income:
Net income 129 129
Other comprehensive income:
Net unrealized investment gains,
net of $2 tax 4 4
Comprehensive income 133
Change in deferred compensation 8 (8) —
Restricted stock amortization 2 2
Stock option exercises 4 1 35 36
Stock option tax benefit 16 16
Balances, December 31, 1998 168 28 903 (9) 753 13 1,688
Comprehensive loss:
Net loss (382) (382)
Other comprehensive loss:
Net unrealized investment losses,
net of $27 tax (41) (41)
Comprehensive loss (423)
Change in deferred compensation (5) 5 —
Restricted stock amortization 2 2
Stock option exercises 1 1
Balances, December 31, 1999 168 $ 28 $ 899 $ (2) $ 371 $ (28) $ 1,268
Th e accompanying notes are an integral part of the con so lidated fi nancial statemen ts .
3736
HU M A N A IN C ./
C O N S O L I D ATED STATEMENTS OF OPERAT I O N S
(In millions, except per share results)
For the years ended December 31, 1999 1998 1997
Revenues:
Premiums $ 9,959 $ 9,597 $ 7,880
Interest and other income 154 184 156
Total revenues 10,113 9,781 8,036
Operating expenses:
Medical 8,532 8,041 6,522
Selling, general and administrative 1,368 1,328 1,116
Depreciation and amortization 124 128 108
Asset write-downs and other expenses 460 34
Total operating expenses 10,484 9,531 7,746
(Loss) income from operations (371) 250 290
Interest expense 33 47 20
(Loss) income before income taxes (404) 203 270
(Benefit) provision for income taxes (22) 74 97
Net (loss) income $ (382) $ 129 $ 173
(Loss) earnings per common share $ (2.28) $ 0.77 $ 1.06
(Loss) earnings per common share – assuming dilution $ (2.28) $ 0.77 $ 1.05
Th e accompanying notes are an integral part of the con so lidated fi nancial statemen ts.