Health Net 2003 Annual Report Download - page 118

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SUPPLEMENTAL SCHEDULE I
CONDENSED FINANCIAL INFORMATION OF REGISTRANT
(PARENT COMPANY ONLY)
HEALTH NET, INC.
NOTE TO CONDENSED FINANCIAL STATEMENTS
Note 1—B
ASIS
O
F
P
RESENTATION
Health Net, Inc.’s (“HNT”) investment in subsidiaries is stated at cost plus equity in undistributed earnings (losses)
of subsidiaries. HNT’s share of net income (loss) of its unconsolidated subsidiaries is included in consolidated income
using the equity method. This condensed financial information of registrant (parent company only) should be read in
conjunction with the consolidated financial statements of Health Net, Inc. and subsidiaries.
Effective, January 1, 2002, HNT adopted Statement of Financial Accounting Standards (SFAS) No. 142, “Goodwill
and Other Intangible Assets” which, among other things, eliminates amortization of goodwill and other intangibles with
indefinite lives. Goodwill amortization expense was $0, $0 and $12.2 million for the years ended December 31, 2003,
2002 and 2001, respectively.
F-45