Health Net 2006 Annual Report Download - page 153

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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,
2006 2005 2004
NET CASH FLOWS PROVIDED BY OPERATING ACTIVITIES . . . $ 36,288 $ 29,574 $ 23,324
CASH FLOWS FROM INVESTING ACTIVITIES:
Sales of investments ............................................ — 44,188 2,585
Maturities of investments ........................................ — 28 —
Purchases of investments ........................................ — (44,185) —
Sales of property and equipment .................................. 393 98,662 1,293
Purchases of property and equipment .............................. (55,033) (60,770) (38,813)
Notes receivable due from subsidiaries ............................. (10,000) — —
Cash (paid) received related to the (acquisition) sale of businesses ....... (70,394) 3,106 11,112
Sales and purchases of restricted investments and other ................ 12,456 25,081 (47,077)
Net cash (used in) provided by investing activities .................... (122,578) 66,110 (70,900)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net (decrease) increase in checks outstanding, net of deposits ........... (12,650) (3,046) 15,696
Excess tax benefit on share-based compensation ...................... 8,083 — —
Net borrowings (repayments) from subsidiaries ...................... 105,299 77,011 (271,105)
Proceeds from exercise of stock options and employee stock purchases . . . 70,294 73,484 19,091
Proceeds from issuance of bridge and term loans ..................... 497,334 — —
Net intercompany proceeds from note payable ....................... — 5,329 —
Repayment of senior notes and debt refinancing costs ................. (465,045) — —
Repurchase of common stock .................................... (253,502) (449) (88,706)
Dividends received from subsidiaries .............................. 146,900 10,000 137,787
Capital contributions to subsidiaries ............................... — (160,074) (32,000)
Net cash provided by (used in) financing activities .................... 96,713 2,255 (219,237)
Net increase (decrease) in cash and cash equivalents .................. 10,423 97,939 (266,813)
Cash and cash equivalents, beginning of period ...................... 195,742 97,803 364,616
Cash and cash equivalents, end of period ........................... $206,165 $ 195,742 $ 97,803
See accompanying note to condensed financial statements.
F-59