Humana 2002 Annual Report Download - page 91

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Humana Inc.
QUARTERLY FINANCIAL INFORMATION
(Unaudited)
A summary of our quarterly unaudited results of operations for the years ended December 31, 2002, and
2001 follows:
For the year ended December 31, 2002
First Second Third Fourth (a)
(in thousands, except per share results)
Totalrevenues ............................... $2,732,582 $2,831,940 $2,841,627 $2,855,032
Income(loss)beforeincometaxes ............... 68,779 66,705 76,957 (2,507)
Netincome(loss) ............................ 46,770 45,359 52,331 (1,705)
Basic earnings (loss) per common share ........... 0.28 0.28 0.32 (0.01)
Diluted earnings (loss) per common share ......... 0.28 0.27 0.31 (0.01)
For the year ended December 31, 2001 (b)
First Second Third Fourth
(in thousands, except per share results)
Totalrevenues ............................... $2,463,998 $2,497,298 $2,610,874 $2,622,716
Incomebeforeincometaxes .................... 41,642 39,191 47,391 54,856
Netincome ................................. 26,651 25,082 30,330 35,108
Basic earnings per common share ................ 0.16 0.15 0.18 0.21
Diluted earnings per common share .............. 0.16 0.15 0.18 0.21
(a) Includes charges of $85.6 million pretax ($58.2 million after tax, or $0.35 per diluted share) for severance
and facility costs related to reducing our administrative cost structure with the elimination of three customer
service centers and an enterprise-wide workforce reduction, reserves for liabilities related to a previous
acquisition, and the impairment in the fair value of certain private debt and equity investments.
(b) As more fully described in Note 2 in our consolidated financial statements, we adopted the non-amortization
of goodwill provisions of Statement No. 142. Results for the quarters of 2001 excluding goodwill
amortization follows:
For the year ended December 31, 2001
First Second Third Fourth
As adjusted: (in thousands, except per share results)
Incomebeforeincometaxes .............................. $55,152 $52,831 $61,357 $68,805
Netincome ........................................... 39,556 38,066 43,514 48,281
Basic earnings per common share .......................... 0.24 0.23 0.27 0.29
Diluted earnings per common share ........................ 0.24 0.23 0.26 0.29
ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND
FINANCIAL DISCLOSURE
Not applicable.
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