Humana 2012 Annual Report Download - page 48
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Stock Total Return Performance
The following graph compares our total return to stockholders with the returns of the Standard & Poor’s
Composite 500 Index (“S&P 500”) and the Morgan Stanley Health Care Payer Index (“Peer Group”) for the five
years ended December 31, 2012. The graph assumes an investment of $100 in each of our common stock, the
S&P 500, and the Peer Group on December 31, 2007, and that dividends were reinvested when paid.
$0
$25
$50
$75
$100
$125
12/31/07
HUM S&P 500 Peer Group
12/31/08 12/31/09 12/31/10 12/31/1212/31/11
12/31/07 12/31/08 12/31/09 12/31/10 12/31/11 12/31/12
HUM .................................. $100 $50 $58 $73 $117 $ 93
S&P500 ............................... $100 $63 $80 $92 $ 94 $109
Peer Group ............................. $100 $45 $69 $80 $108 $120
The stock price performance included in this graph is not necessarily indicative of future stock price
performance.
Issuer Purchases of Equity Securities
In April 2012, the Board of Directors replaced its previously approved share repurchase authorization of up
to $1 billion (of which $461 million remained unused) with the current authorization for repurchases of up to $1
billion of our common shares exclusive of shares repurchased in connection with employee stock plans, expiring
on June 30, 2014. Under this share repurchase authorization, shares could be purchased from time to time at
prevailing prices in the open market, by block purchases, or in privately-negotiated transactions, subject to
certain regulatory restrictions on volume, pricing, and timing. During 2012, we repurchased 1.15 million shares
in open market transactions for $100 million at an average price of $86.95 under a previously approved share
repurchase authorization and we repurchased 5.1 million shares in open market transactions for $360 million at
an average price of $70.66 under the current authorization. During 2011, we repurchased 6.8 million shares in
open market transactions for $492 million at an average price of $72.75 under previously approved share
repurchase authorizations. During 2010, we repurchased 1.99 million shares for $100 million at an average price
of $50.17 under previously approved share repurchase authorizations. As of February 1, 2013, the remaining
authorized amount under the current authorization totaled $640 million.
In connection with employee stock plans, we acquired 0.7 million common shares for $58 million in 2012,
0.8 million common shares for $49 million in 2011, and 0.2 million common shares for $8 million in 2010.
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