Health Net 2003 Annual Report Download - page 117

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SUPPLEMENTAL SCHEDULE I
CONDENSED FINANCIAL INFORMATION OF REGISTRANT
(PARENT COMPANY ONLY)
HEALTH NET, INC.
CONDENSED STATEMENTS OF CASH FLOWS
(Amounts in thousands)
Year Ended December 31,
2003 2001 2001
NET CASH FLOWS (USED IN) PROVIDED BY OPERATING
ACTIVITIES ...................................................... $ (22,028) $ 84,814 $ (55,976)
CASH FLOWS FROM INVESTING ACTIVITIES:
Sales of investments ............................................... 5,704 — 7,496
Maturities of investments ........................................... 1,010 — 1,000
Purchases of investments ........................................... (1,919) — (5,108)
Purchases of property and equipment .................................. (44,968) (24,908) (11,762)
Cash received from the sale of businesses .............................. 94,309 — —
Other assets ...................................................... 1,702 3,846 (15,311)
Net cash provided by (used in) investing activities ........................... 55,838 (21,062) (23,685)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net decrease in checks outstanding, net of deposits ....................... — (5,707) (275)
Net borrowings from subsidiaries ..................................... 115,781 201,144 256,260
Proceeds from exercise of stock options and employee stock purchases ....... 42,330 49,524 10,449
Proceeds from issuance of notes and other financing arrangements .......... 5,680 50,000 601,076
Repaymentofdebt ................................................ (5,864) (245,410) (777,532)
Repurchaseofcommonstock........................................ (288,318) (159,676) —
Dividends received from subsidiaries .................................. 277,660 168,000 163,496
Capital contributions to subsidiaries .................................. (21,000) (18,640) (88,514)
Net cash provided by financing activities ................................... 126,269 39,235 164,960
Net increase in cash and cash equivalents .................................. 160,079 102,987 85,299
Cash and cash equivalents, beginning of period .............................. 204,537 101550 16,251
Cash and cash equivalents, end of period ................................... $364,616 $ 204,537 $ 101,550
See accompanying note to condensed financial statements.
F-44