Anthem Blue Cross 2009 Annual Report Download - page 33

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WELLPOINT, INC. 31
CONSOLIDATED STATEMENTS OF CASH FLOW
In millions Years ended December 31 09 08 07
Operating activities
Net income $«4,745.9 $«2,490.7 $«3,345.4
Adjustments to reconcile net income to net cash
provided by operating activities
Net realized losses (gains) on investments 393.8 1,179.2 (11.2)
Loss on disposal of assets 16.4 7.2 11.3
Gain on sale of business (3,792.3) ––
Deferred income taxes 61.3 (481.4) (105.5)
Amortization and depreciation expense 553.5 571.7 586.2
Impairment of goodwill and other intangible assets 262.5 141.4 –
Share-based compensation 153.6 156.0 177.1
Excess tax benefits from share-based compensation (9.6) (16.0) (153.3)
Changes in operating assets and liabilities, net of
effect of business combinations/divestitures
Receivables, net (484.2) (558.7) (448.6)
Other invested assets, current (62.5) 103.3 (3.0)
Other assets (119.3) (340.2) 174.4
Policy liabilities (748.2) 194.9 257.7
Unearned income (27.3) (26.7) 125.5
Accounts payable and accrued expenses 952.8 (106.3) (235.2)
Other liabilities (248.8) (797.0) 176.5
Income taxes 1,391.4 (47.3) 447.3
Other, net (0.1) 64.6 –
Net cash provided by operating activities 3,038.9 2,535.4 4,344.6
Investing activities
Net (purchases) proceeds of fixed maturity securities (1,538.5) 1,173.3 (184.6)
Net proceeds (purchases) of equity securities 258.4 (244.4) 22.5
Net purchases of other invested assets (45.5) (112.2) (92.0)
Changes in securities lending collateral 132.4 325.1 50.6
Net sales (purchases) of subsidiaries, net of cash sold or acquired 4,606.0 (192.7) (298.5)
Net purchases of property and equipment (378.0) (332.9) (264.7)
Other, net (32.0) – (2.2)
Net cash provided by (used in) investing activities 3,002.8 616.2 (768.9)
Financing activities
Net (repayments of) proceeds from commercial paper borrowings (397.0) (900.6) 502.8
Proceeds from long-term borrowings 990.3 525.0 1,978.3
Net (repayments of) proceeds from short-term borrowings (98.0) 98.0 –
Repayment of long-term borrowings (919.3) (38.7) (509.7)
Changes in securities lending payable (132.4) (325.1) (50.6))
Changes in bank overdrafts (344.1) 44.8 (117.1)
Repurchase and retirement of common stock (2,638.4) (3,276.2) (6,151.4)
Proceeds from exercise of employee stock options and
employee stock purchase plan 126.5 121.2 784.5
Excess tax benefits from share-based compensation 9.6 16.0 153.3
Net cash used in financing activities (3,402.8) (3,735.6) (3,409.9)
Effect of foreign exchange rates on cash and cash equivalents (6.7) ––
Change in cash and cash equivalents 2,632.2 (584.0) 165.8
Cash and cash equivalents at beginning of year 2,183.9 2,767.9 2,602.1
Cash and cash equivalents at end of year $«4,816.1 $«2,183.9 $«2,767.9
The information presented above should be read in conjunction with the audited financial statements and accompanying notes included in WellPoint’s
2009 Annual Report on Form 10-K.