Humana 2006 Annual Report Download - page 120

Download and view the complete annual report

Please find page 120 of the 2006 Humana annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 126

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126

Humana Inc.
SCHEDULE I—PARENT COMPANY FINANCIAL INFORMATION
CONDENSED STATEMENTS OF CASH FLOWS
For the year ended December 31,
2006 2005 2004
(in thousands)
Net cash provided by operating activities ......................... $330,722 $ 414,790 $ 263,027
Cash flows from investing activities:
Acquisitions .............................................. (2,810) (498,948) —
Purchases of investment securities ............................. (119,753) (200,048) (989,757)
Proceeds from sale of investment securities ..................... 264,439 193,391 812,796
Maturities of investment securities ............................ 29,005 22,041 56,740
Purchases of property and equipment, net ....................... (147,719) (141,124) (98,953)
Capital contributions to operating subsidiaries ................... (723,501) (116,000) (5,201)
Surplus note redemption from operating subsidiaries .............. 7,000 10,000 —
Change in securities lending collateral ......................... 902 6,008 (7,991)
Other .................................................... 29 — (4,726)
Net cash used in investing activities ....................... (692,408) (724,680) (237,092)
Cash flows from financing activities:
Borrowings under credit agreement ............................ 550,000 494,000 —
Repayments under credit agreement ........................... (300,000) (294,000) —
Proceeds from issuance of senior notes ......................... 498,545 — —
Repayments of senior notes .................................. (300,000) — —
Debt issue costs ........................................... (5,980) — (1,954)
Change in book overdraft .................................... 9,306 (6,679) (77,422)
Change in securities lending payable ........................... (902) (6,008) 7,991
Common stock repurchases .................................. (26,211) (2,364) (67,024)
Tax benefit from stock-based compensation ..................... 38,839 15,545 3,748
Proceeds from stock option exercises and other .................. 48,223 35,734 29,918
Net cash provided by (used in) financing activities ............ 511,820 236,228 (104,743)
Increase (decrease) in cash and cash equivalents ...................... 150,134 (73,662) (78,808)
Cash and cash equivalents at beginning of year ....................... 169,206 242,868 321,676
Cash and cash equivalents at end of year ............................ $319,340 $ 169,206 $ 242,868
See accompanying notes to the parent company financial statements.
108