Health Net 2004 Annual Report Download - page 139

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SUPPLEMENTAL SCHEDULE I
CONDENSED FINANCIAL INFORMATION OF REGISTRANT
(PARENT COMPANY ONLY)
HEALTH NET, INC.
CONDENSED STATEMENTS OF CASH FLOWS
(Amounts in thousands)
See accompanying note to condensed financial statements.
F-52
Year Ended December 31,
2004
2003
2002
NET CASH FLOWS PROVIDED BY (USED IN) OPERATING ACTIVITIES
$23,324
$(22,028)
$84,814
CASH FLOWS FROM INVESTING ACTIVITIES:
Sales of investments
2,585
5,704
—
Maturities of investments
—
1,010
—
Purchases of investments
—
(1,919)
—
Purchases of property and equipment
(37,520)
(44,968) (24,908)
Cash received from the sale of businesses
11,112
94,309
—
Purchase of restricted investments and other
(47,077)
1,702
3,846
Net cash (used in) provided by investing activities
(70,900)
55,838
(21,062)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net decrease in checks outstanding, net of deposits
15,696
—
(5,707)
Net (repayments) borrowings from subsidiaries
(271,105)
115,781
201,144
Proceeds from exercise of stock options and employee stock purchases
19,091
42,330
49,524
Proceeds from issuance of notes and other financing arrangements
—
5,680 50,000
Repayment of debt
—
(5,864)
(245,410)
Repurchase of common stock
(88,706)
(288,318)
(159,676)
Dividends received from subsidiaries
137,787
277,660
168,000
Capital contributions to subsidiaries
(32,000)
(21,000)
(18,640)
Net cash (used in) provided by financing activities
(219,237)
126,269
39,235
Net (decrease) increase in cash and cash equivalents
(266,813)
160,079
102,987
Cash and cash equivalents, beginning of period
364,616
204,537
101,550
Cash and cash equivalents, end of period
$97,803
$364,616
$204,537