Humana 2008 Annual Report Download - page 76

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Humana Inc.
CONSOLIDATED STATEMENTS OF INCOME
For the year ended December 31,
2008 2007 2006
(in thousands, except per share results)
Revenues:
Premiums ........................................... $28,064,844 $24,434,347 $20,729,182
Administrative services fees ............................ 451,879 391,515 341,211
Investment income ................................... 220,215 314,239 291,880
Other revenue ....................................... 209,434 149,888 54,264
Total revenues ................................... 28,946,372 25,289,989 21,416,537
Operating expenses:
Benefits ............................................ 23,708,233 20,270,531 17,421,204
Selling, general and administrative ....................... 3,944,652 3,476,468 3,021,509
Depreciation and amortization .......................... 220,350 184,812 148,598
Total operating expenses ........................... 27,873,235 23,931,811 20,591,311
Income from operations ................................... 1,073,137 1,358,178 825,226
Interest expense .......................................... 80,289 68,878 63,141
Income before income taxes ................................ 992,848 1,289,300 762,085
Provision for income taxes ................................. 345,694 455,616 274,662
Net income ............................................. $ 647,154 $ 833,684 $ 487,423
Basic earnings per common share ............................ $ 3.87 $ 5.00 $ 2.97
Diluted earnings per common share .......................... $ 3.83 $ 4.91 $ 2.90
The accompanying notes are an integral part of the consolidated financial statements.
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