Humana 2004 Annual Report Download - page 116

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Humana Inc.
SCHEDULE I—PARENT COMPANY FINANCIAL INFORMATION
CONDENSED STATEMENTS OF OPERATIONS
For the year ended December 31,
2004 2003 2002
(in thousands)
Revenues:
Management fees charged to operating subsidiaries ................. $502,833 $458,373 $428,426
Investment income (loss) and other income, net .................... 18,312 19,883 (6,279)
521,145 478,256 422,147
Expenses:
Selling, general and administrative .............................. 412,761 357,041 342,572
Depreciation ................................................ 87,597 82,478 69,384
Interest .................................................... 24,857 21,229 21,480
525,215 460,748 433,436
(Loss) income before income taxes and equity in net earnings of
subsidiaries ................................................... (4,070) 17,508 (11,289)
(Benefit) provision for income taxes ................................. (14,075) 10,944 (25,475)
Income before equity in net earnings of subsidiaries ..................... 10,005 6,564 14,186
Equity in net earnings of subsidiaries ................................ 270,007 222,370 128,569
Net income ..................................................... $280,012 $228,934 $142,755
See accompanying notes to the parent company financial statements.
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