Humana 2007 Annual Report Download - page 119

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Humana Inc.
SCHEDULE I—PARENT COMPANY FINANCIAL INFORMATION
CONDENSED STATEMENTS OF CASH FLOWS
For the year ended December 31,
2007 2006 2005
(in thousands)
Net cash provided by operating activities $ 682,374 $ 330,722 $ 414,790
Cash flows from investing activities:
Acquisitions ............................................. (548,251) (2,810) (498,948)
Purchases of investment securities ........................... (25,147) (119,753) (200,048)
Proceeds from sale of investment securities .................... 100,001 264,439 193,391
Maturities of investment securities ........................... 15,213 29,005 22,041
Purchases of property and equipment, net ..................... (139,962) (147,719) (141,124)
Capital contributions to operating subsidiaries .................. (307,340) (723,501) (116,000)
Surplus note redemption from operating subsidiaries ............. — 7,000 10,000
Change in securities lending collateral ........................ (400,211) 902 6,008
Other .................................................. — 29 —
Net cash used in investing activities ...................... (1,305,697) (692,408) (724,680)
Cash flows from financing activities:
Borrowings under credit agreement .......................... 1,685,000 550,000 494,000
Repayments under credit agreement .......................... (1,335,000) (300,000) (294,000)
Proceeds from issuance of senior notes ....................... — 498,545 —
Repayments of senior notes ................................ — (300,000) —
Debt issue costs .......................................... — (5,980) —
Repayment of notes issued to operating subsidiaries ............. (9,450) — —
Change in book overdraft .................................. 876 9,306 (6,679)
Change in securities lending payable ......................... 400,211 (902) (6,008)
Common stock repurchases ................................. (27,412) (26,211) (2,364)
Tax benefit from stock-based compensation .................... 37,443 38,839 15,545
Proceeds from stock option exercises and other ................. 61,643 48,223 35,734
Net cash provided by financing activities .................. 813,311 511,820 236,228
Increase (decrease) in cash and cash equivalents .................... 189,988 150,134 (73,662)
Cash and cash equivalents at beginning of year ..................... 319,340 169,206 242,868
Cash and cash equivalents at end of year .......................... $ 509,328 $ 319,340 $ 169,206
See accompanying notes to the parent company financial statements.
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