Anthem Blue Cross 2005 Annual Report Download - page 30

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28
consolidated statements of income
Years Ended December 31,
(in millions, except per share data)2005 2004 2003
Revenues
Premiums $41,216.7 $18,771.6 $15,167.7
Administrative fees 2,729.9 1,436.9 1,160.2
Other revenue 566.5 252.4 159.2
Total operating revenue 44,513.1 20,460.9 16,487.1
Net investment income 633.1 311.7 278.1
Net realized (losses) gains on investments (10.2) 42.5 16.2
Total revenues 45,136.0 20,815.1 16,781.4
Expenses
Benefit expense 33,219.9 15,387.8 12,254.5
Selling, general and administrative expense:
Selling expense 1,474.2 537.2 411.2
General and administrative expense 5,798.5 2,940.5 2,686.3
Total selling, general and administrative expense 7,272.7 3,477.7 3,097.5
Cost of drugs 288.0 95.0 38.7
Interest expense 226.2 142.3 131.2
Amortization of other intangible assets 238.9 61.4 47.6
Merger-related undertakings —61.5 —
Loss on repurchase of debt securities —146.1 —
Total expenses 41,245.7 19,371.8 15,569.5
Income before income tax expense 3,890.3 1,443.3 1,211.9
Income tax expense 1,426.5 483.2 437.6
Net income $ 2,463.8 $ 960.1 $ 774.3
Net income per share
Basic $ 4.03 $3.15 $2.80
Diluted $ 3.94 $ 3.05 $ 2.73
Per share data for each period presented reflects the two-for-one stock split, which was approved by the Board of Directors on
April 25, 2005. All shareholders of record on May 13, 2005 received one additional share of WellPoint common stock for each share of
common stock held on that date. The additional shares of common stock were distributed to shareholders of record in the
form of a stock dividend on May 31, 2005.
The information presented above should be read in conjunction with the audited financial statements and accompanying
notes included in WellPoint, Inc.’s 2005 Annual Report on Form 10-K.
WellPoint, Inc. 2005 Summary Annual Report