Humana 2011 Annual Report Download - page 154

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Humana Inc.
SCHEDULE I—PARENT COMPANY FINANCIAL INFORMATION
NOTES TO CONDENSED FINANCIAL STATEMENTS—(Continued)
Although minimum required levels of equity are largely based on premium volume, product mix, and the
quality of assets held, minimum requirements can vary significantly at the state level. Our state regulated
subsidiaries had aggregate statutory capital and surplus of approximately $4.7 billion and $4.3 billion as of
December 31, 2011 and 2010, respectively, which exceeded aggregate minimum regulatory requirements. The
amount of dividends that may be paid to our parent company in 2012 without prior approval by state regulatory
authorities is approximately $970 million in the aggregate. This compares to dividends that were able to be paid
in 2011 without prior regulatory approval of approximately $740 million.
4. ACQUISITIONS
Refer to Note 3 of the notes to consolidated financial statements in this Annual Report on Form 10-K for a
description of acquisitions.
5. INCOME TAXES
Refer to Note 10 of the notes to consolidated financial statements in this Annual Report on Form 10-K for a
description of income taxes. The release of the liability for unrecognized tax benefits in 2009 as a result of
settlements associated with the completion of the audit of our U.S. income tax returns for 2005 and 2006,
reduced tax expense $17 million in 2009.
6. DEBT
Refer to Note 11 of the notes to consolidated financial statements in this Annual Report on Form 10-K for a
description of debt.
7. STOCKHOLDER’S EQUITY
Refer to Note 14 of the notes to consolidated financial statements in this Annual Report on Form 10-K for a
description of stockholders’ equity, including stock repurchases and the April 2011 approval by our Board of
Directors of the initiation of a quarterly cash dividend policy.
144