Humana 2015 Annual Report Download - page 138
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Humana Inc.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
130
Our segment results were as follows for the years ended December 31, 2015, 2014, and 2013:
Retail Group
Healthcare
Services
Other
Businesses
Eliminations/
Corporate Consolidated
(in millions)
2015
Revenues—external customers
Premiums:
Individual Medicare Advantage $ 29,526 $ — $ — $ — $ — $ 29,526
Group Medicare Advantage 5,588——— —5,588
Medicare stand-alone PDP 3,846——— —3,846
Total Medicare 38,960 — — — — 38,960
Fully-insured 4,243 5,493 — — — 9,736
Specialty 261 1,055 — — — 1,316
Medicaid and other 2,341 21 — 35 — 2,397
Total premiums 45,805 6,569 — 35 — 52,409
Services revenue:
Provider — 40 655 — — 695
ASO and other 9 658 — 14 — 681
Pharmacy ——30— — 30
Total services revenue 9 698 685 14 — 1,406
Total revenues—external customers 45,814 7,267 685 49 — 53,815
Intersegment revenues
Services — 93 17,997 — (18,090)—
Products — — 4,923 — (4,923)—
Total intersegment revenues — 93 22,920 — (23,013)—
Investment income 134 26 — 76 238 474
Total revenues 45,948 7,386 23,605 125 (22,775) 54,289
Operating expenses:
Benefits 39,708 5,266 — 87 (792) 44,269
Operating costs 5,118 1,769 22,481 14 (22,064) 7,318
Depreciation and amortization 192 93 143 — (73) 355
Total operating expenses 45,018 7,128 22,624 101 (22,929) 51,942
Income from operations 930 258 981 24 154 2,347
Gain on sale of business ———— 270 270
Interest expense ———— 186 186
Income before income taxes $ 930 $ 258 $ 981 $ 24 $ 238 $ 2,431
Premium and services revenues derived from our contracts with the federal government, as a percentage of our
total premium and services revenues, was approximately 73% for 2015, compared to 73% for 2014, and 75% for 2013.
Benefits expense for the Retail segment for 2015 includes $176 million for a provision for probable future losses
(premium deficiency) for individual commercial medical business compliant with the Health Care Reform Law for the
2016 coverage year as discussed more fully in Note 7.