Humana 2011 Annual Report Download - page 138

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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, 2011 and
2010 follows:
2011
First Second Third Fourth
(in millions, except per share results)
Total revenues .............................................. $9,191 $9,284 $9,301 $9,056
Income before income taxes ................................... 497 726 699 313
Net income ................................................ 315 460 445 199
Basic earnings per common share .............................. 1.88 2.76 2.71 1.22
Diluted earnings per common share ............................. 1.86 2.71 2.67 1.20
2010
First Second (1) Third Fourth (2)
(in millions, except per share results)
Total revenues .............................................. $8,380 $8,589 $8,351 $8,276
Income before income taxes ................................... 417 536 622 174
Net income ................................................ 259 340 393 107
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
(1) Includes an expense of $147 million ($93 million after tax, or $0.55 per diluted common share) for the
write-down of deferred acquisition costs associated with our individual commercial medical policies as
more fully described in Note 17 to the consolidated financial statements.
(2) Includes an expense of $139 million ($88 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 17 to the consolidated
financial statements.
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