Humana 2002 Annual Report Download - page 60

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Humana Inc.
CONSOLIDATED STATEMENTS OF INCOME
For the year ended December 31,
2002 2001 2000
(in thousands, except per share results)
Revenues:
Premiums........................................... $10,930,397 $ 9,938,961 $10,394,631
Administrative services fees ............................ 244,396 137,090 86,298
Investment and other income ........................... 86,388 118,835 115,021
Totalrevenues ................................... 11,261,181 10,194,886 10,595,950
Operating expenses:
Medical ............................................ 9,138,196 8,279,844 8,781,998
Selling, general and administrative ....................... 1,739,192 1,545,129 1,524,799
Depreciation and amortization .......................... 120,730 161,531 146,548
Restructuring charge .................................. 35,877 — —
Total operating expenses ........................... 11,033,995 9,986,504 10,453,345
Income from operations ................................... 227,186 208,382 142,605
Interest expense .......................................... 17,252 25,302 28,615
Incomebeforeincometaxes ................................ 209,934 183,080 113,990
Provision for income taxes ................................. 67,179 65,909 23,938
Netincome ............................................. $ 142,755 $ 117,171 $ 90,052
Basic earnings per common share ............................ $ 0.87 $ 0.71 $ 0.54
Diluted earnings per common share .......................... $ 0.85 $ 0.70 $ 0.54
The accompanying notes are an integral part of the consolidated financial statements.
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