Humana 2014 Annual Report Download - page 135

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127
Humana Inc.
QUARTERLY FINANCIAL INFORMATION
(Unaudited)
A summary of our quarterly unaudited results of operations for the years ended December 31, 2014 and 2013
follows:
2014
First Second Third Fourth
(in millions, except per share results)
Total revenues $ 11,712 $ 12,222 $ 12,238 $ 12,328
Income before income taxes 686 646 551 287
Net income 368 344 290 145
Basic earnings per common share $ 2.37 $ 2.22 $ 1.87 $ 0.96
Diluted earnings per common share (1) $ 2.35 $ 2.19 $ 1.85 $ 0.94
2013
First Second Third Fourth
(in millions, except per share results)
Total revenues $ 10,486 $ 10,321 $ 10,319 $ 10,187
Income (loss) before income taxes 730 654 586 (49)
Net income (loss) 473 420 368 (30)
Basic earnings (loss) per common share $ 2.97 $ 2.66 $ 2.34 $ (0.19)
Diluted earnings (loss) per common share (1) $ 2.95 $ 2.63 $ 2.31 $ (0.19)
(1) The calculation of diluted earnings per common share is based on the weighted average shares outstanding during
each quarter and, accordingly, the sum may not equal the total for the year. In addition, for 2013, the sum of quarterly
amounts does not equal full year results due to the anti-dilutive impact of a loss in the fourth quarter. The fourth
quarter of 2013 includes an expense of $243 million ($154 million after tax, or $0.99 per diluted common share)
for reserve strengthening associated with our closed block of long-term care insurance policies.