Health Net 1998 Annual Report Download - page 33

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F O U N DAT IO N HEALT H SYSTEMS, I N C . 3 1
Consolidated Statements of Operations
Foundation Health Systems, Inc.
(Amounts in thousands,except per share data)
Years Ended December 31, 1998 1997 1996
R e v e n u e s
Health plan premiums $7,440,981 $5,829,444 $5,395,125
Government contracts 989,409 949,168 908,730
Specialty services 366,645 342,107 316,993
Investment and other income 99,041 114,300 88,392
Total revenues 8,896,076 7,235,019 6,709,240
E x p e n s e s
Health plan services 6,547,747 4,912,532 4,598,074
Government contracts health care services 757,047 711,757 706,076
Specialty services 307,675 290,319 289,744
Selling,general and administrative 1,042,556 851,826 859,996
Amortization and depreciation 128,093 98,353 112,916
Interest 92,159 63,555 45,372
Asset impairment,merger, restructuring and other charges 274,953 395,925 44,108
Total expenses 9,150,230 7,324,267 6,656,286
Income (loss) from continuing operations before income taxes (254,154) (89,248) 52,954
Income tax provision (benefit) (88,996) (21,418) 14,124
Income (loss) from continuing operations (165,158) (67,830) 38,830
Discontinued operations:
Income (loss) from operations,net of tax —(30,409) 25,084
Gain (loss) on disposition,net of tax —(88,845) 20,317
Net income (loss) $(165,158) $(187,084) $ 84,231
Basic and diluted earnings (loss) per share:
Continuing operations $ (1.35) $ (0.55) $ 0.31
Income (loss) from discontinued operations,net of tax —(0.25) 0.20
Gain (loss) on disposition of discontinued operations, net of tax —(0.72) 0.16
Net $ (1.35) $ (1.52) $ 0.67
Weighted average shares outstanding:
Basic 121,974 123,333 124,453
Diluted 121,974 123,333 124,966
See accompanying notes to consolidated financial statements.