Aetna 2013 Annual Report Download - page 83
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Annual Report- Page 77
Consolidated Statements of Income
For the Years Ended December 31,
(Millions, except per common share data) 2013 2012 2011
Revenue:
Health care premiums $ 39,659.7 $ 28,872.0 $ 27,189.2
Other premiums 2,077.9 1,902.0 1,775.8
Group annuity contract conversion premium 99.0 941.4 —
Fees and other revenue (1) 4,550.5 3,853.5 3,716.1
Net investment income 916.3 922.2 933.2
Net realized capital (losses) gains (8.8) 108.7 167.9
Total revenue 47,294.6 36,599.8 33,782.2
Benefits and expenses:
Health care costs (2) 32,896.0 23,728.9 21,653.5
Current and future benefits 2,251.4 2,010.1 1,877.7
Benefit expense on group annuity contract conversions 99.0 941.4 —
Operating expenses:
Selling expenses 1,348.6 1,105.5 1,104.8
General and administrative expenses 7,296.8 5,770.9 5,699.6
Total operating expenses 8,645.4 6,876.4 6,804.4
Interest expense 333.7 268.8 246.9
Amortization of other acquired intangible assets 214.6 142.0 120.7
Reduction of reserve for anticipated future losses
on discontinued products (86.0) — —
Loss on early extinguishment of long-term debt —84.9 —
Total benefits and expenses 44,354.1 34,052.5 30,703.2
Income before income taxes 2,940.5 2,547.3 3,079.0
Income taxes 1,028.6 887.5 1,092.1
Net income including non-controlling interests 1,911.9 1,659.8 1,986.9
Less: Net (loss) income attributable to non-controlling interests (1.7) 1.9 1.2
Net income attributable to Aetna $ 1,913.6 $ 1,657.9 $ 1,985.7
Earnings per common share:
Basic $ 5.38 $ 4.87 $ 5.33
Diluted $ 5.33 $ 4.81 $ 5.22
(1) Fees and other revenue include administrative services contract member co-payments and plan sponsor reimbursements related to our
mail order and specialty pharmacy operations of $86 million, $79 million and $63 million (net of pharmaceutical and processing costs
of $1.1 billion, $1.2 billion and $1.3 billion) for 2013, 2012 and 2011 respectively.
(2) Health care costs have been reduced by Insured member co-payments related to our mail order and specialty pharmacy operations of
$110 million, $127 million and $130 million for 2013, 2012 and 2011, respectively.
Refer to accompanying Notes to Consolidated Financial Statements.