Humana 2012 Annual Report Download - page 142

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Because of its inherent limitations, internal control over financial reporting may not prevent or detect
misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that
controls may become inadequate or that the degree of compliance with the policies or procedures may
deteriorate.
We assessed the effectiveness of the Company’s internal control over financial reporting as of December 31,
2012. In making this assessment, we used the criteria set forth by the Committee of Sponsoring Organizations of
the Treadway Commission (COSO) in Internal Control – Integrated Framework. Based on our assessment, we
determined that, as of December 31, 2012, the Company’s internal control over financial reporting was effective
based on those criteria.
In conducting management’s evaluation as described above, Metropolitan Health Networks, Inc., or
Metropolitan, acquired by us on December 21, 2012, was excluded. We are currently assessing the control
environment and we plan to complete our evaluation of Metropolitan’s internal control over financial reporting
by the first anniversary of the acquisition as required by the Securities and Exchange Commission’s rules. The
operations of Metropolitan, which are included in the 2012 consolidated financial statements of the Company
from its date of acquisition, constituted less than 0.1% of revenues and income before income taxes for the year
ended December 31, 2012, and approximately 5% of total assets as of December 31, 2012.
The effectiveness of our internal control over financial reporting as of December 31, 2012 has been audited
by PricewaterhouseCoopers LLP, our independent registered public accounting firm, who also audited the
Company’s consolidated financial statements included in our Annual Report on Form 10-K, as stated in their
report which appears on page 129.
Changes in Internal Control over Financial Reporting
There have been no changes in the Company’s internal control over financial reporting during the quarter
ended December 31, 2012 that have materially affected, or are reasonably likely to materially affect, the
Company’s internal control over financial reporting.
Bruce D. Broussard
President and Chief Executive Officer
James H. Bloem
Senior Vice President, Chief Financial Officer and Treasurer
Steven E. McCulley
Vice President and Controller, Principal Accounting Officer
ITEM 9B. OTHER INFORMATION
None.
132