Health Net 2006 Annual Report Download - page 152
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SUPPLEMENTAL SCHEDULE I
CONDENSED FINANCIAL INFORMATION OF REGISTRANT
(PARENT COMPANY ONLY)
HEALTH NET, INC.
CONDENSED BALANCE SHEETS
(Amounts in thousands)
December 31,
2006
December 31,
2005
ASSETS
Current Assets:
Cash and cash equivalents ........................................... $ 206,165 $ 195,742
Other assets ...................................................... 29,140 29,201
Deferred taxes .................................................... 33,409 54,739
Due from subsidiaries .............................................. 75,238 55,752
Total current assets ............................................ 343,952 335,434
Property and equipment, net ............................................. 94,091 52,774
Goodwill ............................................................ 394,784 394,784
Other intangible assets, net .............................................. 5,573 6,562
Investment in subsidiaries ............................................... 2,530,396 2,133,996
Notes receivable due from subsidiaries ..................................... 10,000 —
Other assets .......................................................... 59,181 74,858
Total Assets .................................................. $3,437,977 $2,998,408
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Due to subsidiaries ................................................. $ 247,613 $ 183,587
Bridge loan ....................................................... 200,000 —
Other liabilities .................................................... 188,751 219,149
Total current liabilities .......................................... 636,364 402,736
Intercompany notes payable—long term .................................... 635,385 530,086
Senior notes payable ................................................... — 387,954
Term loan ............................................................ 300,000 —
Long term deferred taxes ................................................ 9,018 5,564
Other liabilities ........................................................ 78,245 82,993
Total Liabilities ............................................... 1,659,012 1,409,333
Commitments and contingencies
Stockholders’ Equity:
Common stock .................................................... 140 137
Restricted common stock ............................................ — 6,883
Unearned compensation ............................................. — (2,137)
Additional paid-in capital ........................................... 1,027,878 906,789
Treasury common stock, at cost ....................................... (891,294) (633,375)
Retained earnings .................................................. 1,653,478 1,324,165
Accumulated other comprehensive loss ................................ (11,237) (13,387)
Total Stockholders’ Equity ...................................... 1,778,965 1,589,075
Total Liabilities and Stockholders’ Equity .......................... $3,437,977 $2,998,408
See accompanying note to condensed financial statements.
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