Humana 2002 Annual Report Download - page 100

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HUMANA INC.
SCHEDULE I—PARENT COMPANY FINANCIAL INFORMATION
CONDENSED STATEMENTS OF CASH FLOWS
For the year ended December 31,
2002 2001 2000
(in thousands)
Net cash provided by operating activities ......................... $127,893 $268,534 $125,186
Cash flows from investing activities:
Acquisitions ................................................ — (43,490) (76,294)
Purchases of investment securities ............................... (7,470) (10,937) (7,562)
Proceeds from sale of investment securities ....................... 12,553 — 6,989
Purchases of property and equipment, net ......................... (94,505) (84,487) (91,039)
Capital contributions to operating subsidiaries ..................... (11,000) (32,304) (48,000)
Dividends from operating subsidiaries ............................ 198,000 — 185,132
Surplus note funding to operating subsidiaries ..................... — — (10,000)
Surplus note redemption from operating subsidiaries ................ 12,000 22,500 4,100
Other...................................................... 1,030 1,222 1,331
Net cash provided by (used in) investing activities ................ 110,608 (147,496) (35,343)
Cash flows from financing activities:
Revolving credit agreement borrowings .......................... — — 520,000
Revolving credit agreement repayments .......................... — (520,000) —
Net conduit commercial paper borrowings ........................ 2,000 263,000 —
Net commercial paper repayments ............................... — (79,952) (606,261)
Proceeds from issuance of senior notes ........................... — 299,277 —
Debt issue costs ............................................. (1,549) (7,116) —
Change in book overdraft ...................................... (46,084) (17,709) 12,819
Proceeds from (repayment of) notes issued to operating subsidiaries .... — (20,000) 20,000
Proceeds from other borrowings ................................ — 5,700 —
Common stock repurchases .................................... (74,035) (1,867) (26,432)
Other...................................................... 9,577 1,928 1,787
Net cash used in financing activities ........................... (110,091) (76,739) (78,087)
Increase in cash and cash equivalents .............................. 128,410 44,299 11,756
Cash and cash equivalents at beginning of period ..................... 58,598 14,299 2,543
Cash and cash equivalents at end of period .......................... $ 87,008 58,598 14,299
See accompanying notes to the parent company financial statements.
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