Humana 2002 Annual Report Download - page 90

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REPORT OF INDEPENDENT ACCOUNTANTS
To the Board of Directors and Stockholders
Humana Inc.
In our opinion, the consolidated balance sheets and the related consolidated statements of income, of
stockholders’ equity and of cash flows present fairly, in all material respects, the consolidated financial position
of Humana Inc. and its subsidiaries at December 31, 2002 and 2001, and the results oftheir operations and their
cash flows for each of the three years in the period ended December 31, 2002, in conformity with accounting
principles generally accepted in the United States of America. In addition, in our opinion, the financial statement
schedule listed in the index appearing under Item 15(a)(2) on page 89 presents fairly, in all material respects, the
information set forth therein when read in conjunction with the related consolidated financial statements. These
financial statements and financial statement schedule are the responsibility of the Company’s management; our
responsibility is to express an opinion on these financial statements and financial statement schedule based on
our audits. We conducted our audits of these statements in accordance with auditing standards generally accepted
in the United States of America, which require that we plan and perform the audit to obtain reasonable assurance
about whether the financial statements are free of material misstatement. An audit includes examining, on a test
basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting
principles used and significant estimates made by management, and evaluating the overall financial statement
presentation. We believe that our audits provide a reasonable basis for our opinion.
As discussed in Note 2 to the consolidated financial statements, the Company ceased amortizing goodwill
effective January 1, 2002.
/s/ PricewaterhouseCoopers LLP
Louisville, Kentucky
February 3, 2003
84