Aetna 2001 Annual Report Download - page 33

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
   
For the Years Ended December 31,
(Millions, except per common share data) 2001 2000 1999
Revenue:
Health care premiums $19,940.4 $21,746.6 $17,145.7
Other premiums 1,831.6 1,468.3 1,495.8
Administrative services contract fees 1,835.2 1,925.9 1,674.5
Net investment income 1,411.6 1,631.6 1,601.8
Other income 75.9 86.6 129.4
Net realized capital gains (losses) 96.1 (40.1) 62.5
Total revenue 25,190.8 26,818.9 22,109.7
Benefits and expenses:
Health care costs 17,938.8 18,884.1 14,641.0
Current and future benefits 2,458.3 2,153.5 2,231.0
Operating expenses:
Salaries and related benefits 2,290.4 2,328.7 1,866.2
Other 2,224.6 2,501.1 2,050.8
Interest expense 142.8 248.2 232.7
Amortization of goodwill 198.1 204.9 206.0
Amortization of other acquired intangible assets 218.5 230.7 214.4
Goodwill write-off - 310.2 -
Severance and facilities charges 192.5 142.5 -
Reductions of reserve for anticipated future losses
on discontinued products (94.5) (146.0) (77.2)
Total benefits and expenses 25,569.5 26,857.9 21,364.9
Income (loss) from continuing operations before income taxes
(benefits) and cumulative effect adjustment (378.7) (39.0) 744.8
Income taxes (benefits):
Current (13.6) 242.1 268.5
Deferred (73.6) (153.7) 76.9
Total income taxes (benefits) (87.2) 88.4 345.4
Income (loss) from continuing operations before
cumulative effect adjustment (291.5) (127.4) 399.4
Cumulative effect adjustment, net of tax .5 - -
Income (loss) from continuing operations (291.0) (127.4) 399.4
Discontinued operations, net of tax:
Income from operations - 428.5 317.1
Sale and spin-off related costs 11.4 (174.0) -
Net Income (loss) $««««(279.6) $«««««127.1 $«««««716.5
Results per common share:
Income (loss) from continuing operations:
Basic $««««««(2.03) $««««««««(.90) $«««««««2.56
Diluted (1) - - 2.54
Income from discontinued operations:
Basic .08 1.80 2.20
Diluted (1) - - 2.18
Net income (loss):
Basic (1.95) .90 4.76
Diluted (1) - - 4.72
(1) Since the Company reported a loss from continuing operations in 2001 and 2000, the effect of dilutive securities
has been excluded from earnings per common share computations for those years because including such securities
would be anti-dilutive.
The foregoing financial information should be read in conjunction with the financial statements and related notes as
presented in Aetna Inc.’s 2001 Annual Report on Form 10-K.