Anthem Blue Cross 2001 Annual Report Download - page 44

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42
Anthem, Inc.
Consolidated Statements of Income
Year ended December 31 (In Millions, Except Per Share Data) 2001 2000 1999
Revenues
Premiums $ 9,244.8 $7,737.3 $5,418.5
Administrative fees 817.3 755.6 611.1
Other revenue 58.2 50.6 51.0
Total operating revenue 10,120.3 8,543.5 6,080.6
Net investment income 238.6 201.6 152.0
Net realized gains on investments 60.8 25.9 37.5
Gain on sale of subsidiary operations 25.0 ––
10,444.7 8,771.0 6,270.1
Expenses
Benefit expense 7,814.7 6,551.0 4,582.7
Administrative expense 1,986.1 1,808.4 1,469.4
Interest expense 60.2 54.7 30.4
Amortization of goodwill and other intangible assets 31.5 27.1 12.7
Endowment of non-profit foundations –– 114.1
Demutualization expenses 27.6 ––
9,920.1 8,441.2 6,209.3
Income from continuing operations before
income taxes and minority interest 524.6 329.8 60.8
Income taxes 183.4 102.2 10.2
Minority interest (credit) (1.0) 1.6 (0.3)
Income from continuing operations 342.2 226.0 50.9
Discontinued operations, net of income taxes
Loss on disposal of discontinued operations ––(6.0)
Net income $ 342.2 $ 226.0 $ 44.9
Pro forma earnings per share:
Income from continuing operations $ 3.31 $ 2.19 $ 0.49
Discontinued operations ––(0.06)
Net income $ 3.31 $ 2.19 $ 0.43
Pro forma diluted earnings per share:
Income from continuing operations $ 3.30 $ 2.18 $ 0.49
Discontinued operations ––(0.06)
Net income $ 3.30 $ 2.18 $ 0.43
Net income for the period from November 2, 2001
(date of demutualization and initial public
offering) to December 31, 2001 $ 55.7
Basic and diluted net income per share for the period
from November 2, 2001 (date of demutualization
and initial public offering) to December 31, 2001 $ 0.54
See accompanying notes.