Health Net 2010 Annual Report Download - page 100
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HEALTH NET, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(Amounts in thousands, except per share data)
Year Ended December 31,
2010 2009 2008
Revenues
Health plan services premiums .......................... $ 9,996,888 $12,440,589 $12,392,006
Government contracts ................................. 3,344,483 3,104,700 2,835,261
Net investment income ................................ 71,181 105,930 91,042
Administrative services fees and other income .............. 21,133 62,022 48,280
Northeast administrative services fees and other ............ 186,167 0 0
Total revenues ................................... 13,619,852 15,713,241 15,366,589
Expenses
Health plan services (excluding depreciation and
amortization) ...................................... 8,609,117 10,731,951 10,762,657
Government contracts ................................. 3,168,160 2,939,722 2,702,573
General and administrative ............................. 956,264 1,361,956 1,291,059
Selling ............................................. 238,759 330,112 360,381
Depreciation and amortization .......................... 34,800 53,042 59,878
Interest ............................................. 34,880 40,887 42,909
Northeast administrative services expenses ................ 279,434 0 0
Loss (adjustment to loss) on sale of Northeast health plan
subsidiaries ....................................... (41,959) 105,931 0
Asset impairments .................................... 6,000 174,879 0
Early debt extinguishment charge ........................ 3,532 0 0
Total expenses ................................... 13,288,987 15,738,480 15,219,457
Income (loss) from operations before income taxes .............. 330,865 (25,239) 147,132
Income tax provision ...................................... 126,622 23,765 52,129
Net income (loss) ........................................ $ 204,243 $ (49,004) $ 95,003
Net income (loss) per share:
Basic .............................................. $ 2.08 $ (0.47) $ 0.89
Diluted ............................................. $ 2.06 $ (0.47) $ 0.88
Weighted average shares outstanding:
Basic .............................................. 98,232 103,849 106,532
Diluted ............................................. 99,232 103,849 107,610
See accompanying notes to consolidated financial statements.
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