Health Net 2002 Annual Report Download - page 52

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50 | HEALTH NET, INC.
Consolidated Balance Sheets
Health Net, Inc.
December 31,
(Amounts in thousands) 2002 2001
ASSETS
Current Assets:
Cash and cash equivalents $841,164 $909,594
Investments - available for sale 1,008,975 856,560
Premiums receivable, net of allowance for
doubtful accounts (2002 - $13,964; 2001 - $14,595) 166,068 183,824
Amounts receivable under government contracts 78,404 99,619
Reinsurance and other receivables 108,147 136,854
Deferred taxes 78,270 72,909
Other assets 91,376 82,583
Total current assets 2,372,404 2,341,943
Property and equipment, net 199,218 253,063
Goodwill, net 762,066 764,381
Other intangible assets, net 22,339 37,433
Deferred taxes –23,359
Other noncurrent assets 110,650 139,468
Total Assets $3,466,677 $3,559,647
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Reserves for claims and other settlements $1,036,105 $1,054,025
Health care and other costs payable under government contracts 224,235 258,136
Unearned premiums 178,120 166,842
Accounts payable and other liabilities 263,590 276,523
Total current liabilities 1,702,050 1,755,526
Revolving credit facility and capital leases –195,182
Senior notes payable 398,821 398,678
Deferred taxes 9,705 –
Other noncurrent liabilities 47,052 44,749
Total Liabilities 2,157,628 2,394,135
Commitments and contingencies
Stockholders’ Equity:
Preferred stock ($0.001 par value, 10,000 shares authorized,
none issued and outstanding) ––
Class A common stock ($0.001 par value, 350,000 shares authorized;
issued 2002 - 130,506 shares; 2001 - 126,879 shares) 131 127
Class B non-voting convertible common stock ($0.001 par value,
30,000 shares authorized; none issued and outstanding) ––
Restricted common stock 1,913 –
Unearned compensation (1,441) –
Additional paid-in capital 730,495 662,740
Treasury Class A common stock, at cost (2002 - 9,864 shares; 2001 - 3,194 shares) (259,513) (95,831)
Retained earnings 826,379 597,753
Accumulated other comprehensive income 11,085 723
Total Stockholders’ Equity 1,309,049 1,165,512
Total Liabilities and Stockholders’ Equity $3,466,677 $3,559,647
See accompanying notes to consolidated financial statements.