Humana 2010 Annual Report Download - page 131

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Humana Inc.
QUARTERLY FINANCIAL INFORMATION
(Unaudited)
A summary of our quarterly unaudited results of operations for the years ended December 31, 2010 and
2009 follows:
2010
First Second(1) Third Fourth(2)
(in thousands, except per share results)
Total revenues ................................... $8,440,594 $8,652,721 $8,424,648 $8,350,245
Income before income taxes ........................ 416,926 535,854 622,290 174,492
Net income ..................................... 258,768 340,076 393,221 107,325
Basic earnings per common share .................... 1.54 2.02 2.35 0.64
Diluted earnings per common share .................. 1.52 2.00 2.32 0.63
2009
First Second Third Fourth
(in thousands, except per share results)
Total revenues ................................... $7,711,661 $7,898,889 $7,716,819 $7,633,045
Income before income taxes ........................ 293,762 439,950 469,348 398,700
Net income ..................................... 205,717 281,780 301,519 250,659
Basic earnings per common share .................... 1.23 1.68 1.80 1.49
Diluted earnings per common share .................. 1.22 1.67 1.78 1.48
(1) Includes an expense of $147.5 million ($93.4 million after tax, or $0.55 per diluted common share) for the
write-down of deferred acquisition costs associated with our individual major medical policies as more fully
described in Note 18 to the consolidated financial statements.
(2) Includes an expense of $138.9 million ($88.0 million after tax, or $0.52 per diluted common share)
associated with reserve strengthening for our closed block of long-term care policies acquired in connection
with the 2007 acquisition of KMG America Corporation as more fully described in Note 18 to the
consolidated financial statements.
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