Humana 2006 Annual Report Download - page 74
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Humana Inc.
CONSOLIDATED STATEMENTS OF INCOME
For the year ended December 31,
2006 2005 2004
(in thousands, except per share results)
Revenues:
Premiums ........................................... $20,729,182 $14,001,591 $12,689,432
Administrative services fees ............................ 341,211 259,437 272,796
Investment income ................................... 291,880 142,976 132,838
Other revenue ....................................... 54,264 14,123 9,259
Total revenues ................................... 21,416,537 14,418,127 13,104,325
Operating expenses:
Medical ............................................ 17,421,204 11,651,470 10,669,647
Selling, general and administrative ....................... 3,021,509 2,195,604 1,894,336
Depreciation and amortization .......................... 148,598 128,858 117,792
Total operating expenses ........................... 20,591,311 13,975,932 12,681,775
Income from operations ................................... 825,226 442,195 422,550
Interest expense .......................................... 63,141 39,315 23,172
Income before income taxes ................................ 762,085 402,880 399,378
Provision for income taxes ................................. 274,662 106,150 129,431
Net income ............................................. $ 487,423 $ 296,730 $ 269,947
Basic earnings per common share ............................ $ 2.97 $ 1.83 $ 1.68
Diluted earnings per common share .......................... $ 2.90 $ 1.79 $ 1.66
The accompanying notes are an integral part of the consolidated financial statements.
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