Health Net 2004 Annual Report Download - page 134

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HEALTH NET, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
The following table shows the Company’s government contracts total incurred claims and administrative and other costs for the
years ended December 31, (amounts in thousands):
For the years ended December 31, 2004, 2003 and 2002, the Company’s administrative and other costs represented 16%, 16%
and 19%, respectively, of the Company’s total government contracts costs.
Note 17—Quarterly Information (Unaudited)
Government Contracts
2004
2003
2002
Total incurred claims
$1,033,718
$1,504,073
$1,179,596
Costs incurred related to our TRICARE contract for the North Region
589,162
—
—
Administrative and other costs
304,718
285,450
273,372
Government contracts costs
$1,927,598
$1,789,523
$1,452,968
The following interim financial information presents the 2004 and 2003 results of operations on a quarterly basis (amounts in
thousands, except per share data).
2004
2003
F-48
March 31
June 30
September 30
December 31
Total revenues
$2,924,752
$2,918,815
$2,935,233
$2,867,593
Income (loss) from continuing operations before income taxes
24,546
67,638
118,246
(143,014)
Net income (loss)
15,012
41,366
71,855
(85,629)
BASIC EARNINGS (LOSS) PER SHARE (1)
Net income (loss)
$0.13
$0.37
$0.64
$(0.77)
DILUTED EARNINGS (LOSS) PER SHARE (1)
Net income (loss)
$0.13
$0.36
$0.64
$(0.77)
(1) The sum of the quarterly earnings per share may not equal the year-to-date earnings per share due to rounding.
March 31
June 30
September 30
December 31
Total revenues
$2,715,685
$2,752,662
$2,816,723
$2,779,632
Income from continuing operations before income taxes and loss on
settlement from disposition
116,348
118,514
138,742
143,367
Net income (loss)
72,135
74,784
(2,238)
89,349
BASIC EARNINGS (LOSS) PER SHARE
Net income (loss)
$0.61
$0.64
$(0.02)
$0.79
DILUTED EARNINGS (LOSS) PER SHARE
Net income (loss)
$0.60
$0.63
$(0.02) $ 0.77