Health Net 2010 Annual Report Download - page 101

HEALTH NET, INC.
CONSOLIDATED BALANCE SHEETS
(Amounts in thousands, except per share data)
December 31,
2010 2009
ASSETS
Current Assets:
Cash and cash equivalents .................................................... $ 350,138 $ 682,803
Investments-available- for-sale (amortized cost: 2010-$1,653,502, 2009-$1,372,090) ..... 1,663,218 1,376,142
Premiums receivable, net of allowance for doubtful accounts (2010-$6,613,
2009-$6,283) ............................................................ 298,892 288,719
Amounts receivable under government contracts .................................. 266,456 270,810
Incurred but not reported (IBNR) health care costs receivable under TRICARE North
contract ................................................................. 284,247 281,140
Other receivables ........................................................... 136,323 111,608
Deferred taxes ............................................................. 45,769 46,527
Other assets ............................................................... 182,252 187,086
Total current assets .............................................................. 3,227,295 3,244,835
Property and equipment, net ...................................................... 123,137 131,480
Goodwill ...................................................................... 605,886 611,886
Other intangible assets, net ....................................................... 24,217 28,108
Deferred taxes ................................................................. 50,648 89,479
Investments-available-for-sale-noncurrent (amortized cost: 2010-$10,447, 2009-$23,626) ..... 8,756 20,870
Other noncurrent assets .......................................................... 91,754 155,993
Total Assets ................................................................... $4,131,693 $ 4,282,651
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Reserves for claims and other settlements ........................................ $ 942,024 $ 951,655
Health care and other costs payable under government contracts ...................... 113,865 90,815
IBNR health care costs payable under TRICARE North contract ...................... 284,247 281,140
Unearned premiums ......................................................... 158,493 135,772
Loans payable and other financing arrangement ................................... 0 104,007
Accounts payable and other liabilities ........................................... 402,024 366,125
Total current liabilities ........................................................... 1,900,653 1,929,514
Senior notes payable ............................................................ 398,685 398,480
Borrowings under revolving credit facility ........................................... 0 100,000
Other noncurrent liabilities ....................................................... 137,939 158,874
Total Liabilities ................................................................ 2,437,277 2,586,868
Commitments and contingencies
Stockholders’ Equity:
Preferred stock ($0.001 par value, 10,000 shares authorized, none issued and
outstanding) ............................................................. 0 0
Common stock ($0.001 par value, 350,000 shares authorized; issued 2010- 145,121 shares;
2009-144,175 shares ) ..................................................... 145 154
Additional paid-in capital ..................................................... 1,221,301 1,190,203
Treasury common stock, at cost (2010- 50,474 shares of common stock; 2009-41,020
shares of common stock) ................................................... (1,626,856) (1,389,722)
Retained earnings ........................................................... 2,099,339 1,895,096
Accumulated other comprehensive income ....................................... 487 52
Total Stockholders’ Equity ....................................................... 1,694,416 1,695,783
Total Liabilities and Stockholders’ Equity ........................................... $4,131,693 $ 4,282,651
See accompanying notes to consolidated financial statements.
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