Aetna 2013 Annual Report Download - page 141

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Annual Report- Page 135
We also have funding obligations relating to equity limited partnership investments and commercial mortgage
loans. The funding requirements for equity limited partnership investments and commercial mortgage loans for
2014 through 2018 are estimated to be $130 million, $69 million, $55 million, $32 million and $21 million,
respectively.
19. Segment Information
Our operations are conducted in three business segments: Health Care, Group Insurance and Large Case Pensions.
The acquired Coventry operations are reflected in our Health Care segment on and after May 7, 2013. Our
Corporate Financing segment is not a business segment; it is added to our business segments to reconcile to our
consolidated results. The Corporate Financing segment includes interest expense on our outstanding debt and the
financing components of our pension and OPEB plan expense (the service cost and prior service cost components
of this expense are allocated to our business segments).
Summarized financial information of our segment operations for 2013, 2012 and 2011 were as follows:
(Millions) Health
Care Group
Insurance Large Case
Pensions (2) Corporate
Financing Total
Company
2013
Revenue from external customers $ 44,085.2 $ 2,053.3 $ 248.6 $ — $ 46,387.1
Net investment income 309.3 286.6 320.4 — 916.3
Interest expense — — — 333.7 333.7
Depreciation and amortization expense 564.7 4.4 — — 569.1
Income taxes (benefits) 1,078.4 32.3 21.8 (103.9) 1,028.6
Operating earnings (loss) (1) 2,130.8 128.0 21.2 (178.4) 2,101.6
Segment assets 33,319.9 5,520.3 11,031.6 — 49,871.8
2012
Revenue from external customers $ 32,608.9 $ 1,842.0 $ 1,118.0 $ — $ 35,568.9
Net investment income 310.4 282.8 329.0 — 922.2
Interest expense — — — 268.8 268.8
Depreciation and amortization expense 445.5 4.4 — — 449.9
Income taxes (benefits) 950.5 62.3 (2.4) (122.9) 887.5
Operating earnings (loss) (1) 1,752.1 161.5 17.8 (161.8) 1,769.6
Segment assets 24,245.9 5,697.5 11,551.1 — 41,494.5
2011
Revenue from external customers $ 30,793.9 $ 1,715.2 $ 172.0 $ — $ 32,681.1
Net investment income 338.4 267.0 327.8 — 933.2
Interest expense — — — 246.9 246.9
Depreciation and amortization expense 442.2 5.0 — — 447.2
Income taxes (benefits) 1,106.6 72.6 1.0 (88.1) 1,092.1
Operating earnings (loss) (1) 1,955.7 153.0 20.7 (163.7) 1,965.7
Segment assets 21,697.4 5,392.6 11,503.1 — 38,593.1
(1) Operating earnings (loss) excludes net realized capital gains or losses and the other items described in the reconciliation on page 136.
(2) In 2013 and 2012, pursuant to contractual rights exercised by contract holders, certain existing group annuity contracts were converted
from participating to non-participating contracts. Upon conversion, we recorded $99.0 million and $941.4 million of non-cash group
annuity conversion premium for these contracts and a corresponding $99.0 million and $941.4 million non-cash benefit expense on
group annuity conversion for these contracts during 2013 and 2012, respectively.