Humana 2005 Annual Report Download - page 70

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Humana Inc.
CONSOLIDATED STATEMENTS OF INCOME
For the year ended December 31,
2005 2004 2003
(in thousands, except per share results)
Revenues:
Premiums ........................................... $14,001,591 $12,689,432 $11,825,283
Administrative services fees ............................ 259,437 272,796 271,676
Investment and other income ........................... 157,099 142,097 129,352
Total revenues ................................... 14,418,127 13,104,325 12,226,311
Operating expenses:
Medical ............................................ 11,651,470 10,669,647 9,879,421
Selling, general and administrative ....................... 2,176,770 1,877,864 1,858,028
Depreciation and amortization .......................... 128,858 117,792 126,779
Total operating expenses ........................... 13,957,098 12,665,303 11,864,228
Income from operations ................................... 461,029 439,022 362,083
Interest expense .......................................... 39,315 23,172 17,367
Income before income taxes ................................ 421,714 415,850 344,716
Provision for income taxes ................................. 113,231 135,838 115,782
Net income ............................................. $ 308,483 $ 280,012 $ 228,934
Basic earnings per common share ............................ $ 1.91 $ 1.75 $ 1.44
Diluted earnings per common share .......................... $ 1.87 $ 1.72 $ 1.41
The accompanying notes are an integral part of the consolidated financial statements.
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