Humana 2000 Annual Report Download - page 13

(I n mi ll i on s, e xc ep t p e r sh a re r e s u l t s )
F o r th e ye a r s en d ed De c em b er 31 , 2 0 0 0 1 9 9 9 1 9 9 8
Revenues:
Premiums $ 10,395 $ 9,959 $ 9,597
Investment and other income, net 119 154 184
Total revenues 10,514 10,113 9,781
Operating expenses:
Medical 8,782 8,532 8,041
Selling, general and administrative 1,442 1,368 1,328
Depreciation and amortization 147 124 128
Asset write-downs and other charges 460 34
Total operating expenses 10,371 10,484 9,531
Income (loss) from operations 143 (371) 250
Interest expense 29 33 47
Income (loss) before income taxes 114 (404) 203
Provision (benefit) for income taxes 24 (22) 74
Net income (loss) $ 90 $ (382) $ 129
Basic earnings (loss) per common share $ 0.54 $ (2.28) $ 0.77
Diluted earnings (loss) per common share $ 0.54 $ (2.28) $ 0.77
This summary annual report contains condensed financial statements. The full financial statements and related notes can be
found in the Company’s Form 10-K for the year ended December 31, 2000 and in the Proxy Statement for the May 17, 2001
annual meeting as filed with the Securities and Exchange Commission.
C o n d e n s e d C o n s o l i d a t e d S t a t e m e n t s o f O p e r a t i o n s
H U M A N A I N C .
( I n mil l io n s, e xc ep t s h are a mo un t s)
D e c e mb er 31 , 2 0 0 0 1 9 9 9
Assets
Current assets:
Cash and cash equivalents $ 658 $ 978
Investment securities 1,409 1,507
Premiums receivable, less allowance for doubtful
accounts of $42 in 2000 and $61 in 1999 205 225
Deferred income taxes 67 128
Other 160 193
Total current assets 2,499 3,031
Property and equipment, net 435 418
Other assets:
Long-term investment securities 240 294
Cost in excess of net assets acquired 790 806
Deferred income taxes 103 87
Other 100 264
Total other assets 1,233 1,451
Total assets $ 4,167 $ 4,900
Liabilities and Stockholders’ Equity
Current liabilities:
Medical and other expenses payable $ 1,181 $ 1,432
Trade accounts payable and accrued expenses 402 482
Book overdraft 149 215
Unearned premium revenues 333 349
Debt 600 686
Total current liabilities 2,665 3,164
Long-term medical and other expenses payable 324
Professional liability and other obligations 142 144
Total liabilities 2,807 3,632
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $1 par; 10,000,000 shares authorized; none issued
Common stock, $0.16 2/3 par; 300,000,000 shares authorized;
170,889,142 and 167,608,558 shares issued in 2000 and 1999, respectively 28 28
Capital in excess of par value 923 899
Retained earnings 461 371
Accumulated other comprehensive loss (8) (28)
Unearned restricted stock compensation (30) (2)
Treasury stock, at cost, 1,823,348 shares (14)
Total stockholders’ equity 1,360 1,268
Total liabilities and stockholders’ equity $ 4,167 $ 4,900
C o n d e n s e d C o n s o l i d a t e d B a l a n c e S h e e t s
H U M A N A I N C .
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