Health Net 2004 Annual Report Download - page 40
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Item 6. Selected Financial Data.
The following selected financial and operating data are derived from our audited consolidated financial statements. The selected
financial and operating data should be read in conjunction with “Item 7. Management’s Discussion and Analysis of Financial
Condition and Results of Operations” and the audited financial statements and notes thereto contained elsewhere in this Annual
Report.
37
Year Ended December 31,
2004
2003
2002
2001
2000
(
Amounts in thousands
,
exce
p
t
p
er share data
)
STATEMENT OF OPERATIONS DATA
(1):
REVENUES
Health plan services premiums
$9,560,244
$9,093,219
$8,581,658
$8,575,012
$7,609,625
Government contracts
2,021,871
1,865,773
1,498,689
1,339,066
1,265,124
Net investment income
58,147
59,332
65,210
78,785
90,087
Other income
6,131
46,378
49,201
70,282
111,719
Total revenues
11,646,393
11,064,702
10,194,758
10,063,145
9,076,555
EXPENSES
Health plan services
8,413,638
7,516,838
7,161,520
7,243,645
6,322,691
Government contracts
1,927,598
1,789,523
1,452,968
1,324,648
1,196,532
General and administrative
888,480
912,531
856,169
874,504
942,316
Selling
240,117
233,519
197,751
186,143
158,031
Depreciation
41,426
55,903
61,832
61,073
67,260
Amortization
2,862
2,774
7,060
37,622
38,639
Interes
t
33,133
39,135
40,226
54,940
87,930
Severance, asset impairments and
restructuring costs
32,893
16,409
60,337
79,667
—
Net (gain) loss on sales of businesses and
properties and assets held for sale
(1,170)
(18,901)
5,000
72,422
409
Total expenses
11,578,977
10,547,731
9,842,863
9,934,664
8,813,808
Income from continuing operations before
income taxes and cumulative effect of
changes in accounting principle
67,416
516,971
351,895
128,481
262,747
Income tax provision
24,812
193,891
117,374
47,539
99,124
Income from continuing operations before
cumulative effect of changes in accounting
principle
42,604
323,080
234,521
80,942
163,623
Discontinued operations: Loss on settlement
from disposition, net of tax
—
(89,050)
—
—
—
Income before cumulative effect of changes in
accounting principle
42,604
234,030
234,521
80,942
163,623
Cumulative effect of changes in accounting
principle, net of tax
—
—
(8,941)
—
—
Net income
$42,604
$234,030
$225,580
$80,942
$163,623