Humana 2009 Annual Report Download - page 79

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Humana Inc.
CONSOLIDATED STATEMENTS OF INCOME
For the year ended December 31,
2009 2008 2007
(in thousands, except per share results)
Revenues:
Premiums ........................................... $29,926,751 $28,064,844 $24,434,347
Administrative services fees ............................ 496,135 451,879 391,515
Investment income ................................... 296,317 220,215 314,239
Other revenue ....................................... 241,211 209,434 149,888
Total revenues ................................... 30,960,414 28,946,372 25,289,989
Operating expenses:
Benefits ............................................ 24,775,002 23,708,233 20,270,531
Selling, general and administrative ....................... 4,227,535 3,944,652 3,476,468
Depreciation and amortization .......................... 250,274 220,350 184,812
Total operating expenses ........................... 29,252,811 27,873,235 23,931,811
Income from operations ................................... 1,707,603 1,073,137 1,358,178
Interest expense .......................................... 105,843 80,289 68,878
Income before income taxes ................................ 1,601,760 992,848 1,289,300
Provision for income taxes ................................. 562,085 345,694 455,616
Net income ............................................. $ 1,039,675 $ 647,154 $ 833,684
Basic earnings per common share ............................ $ 6.21 $ 3.87 $ 5.00
Diluted earnings per common share .......................... $ 6.15 $ 3.83 $ 4.91
The accompanying notes are an integral part of the consolidated financial statements.
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