Health Net 2006 Annual Report Download - page 98

HEALTH NET, INC.
CONSOLIDATED BALANCE SHEETS
(Amounts in thousands)
December 31,
2006 2005
ASSETS
Current Assets:
Cash and cash equivalents .............................................. $ 704,806 $ 742,485
Investments—available for sale (amortized cost: 2006—$1,430,792, 2005—
$1,385,268) ....................................................... 1,416,038 1,363,818
Premiums receivable, net of allowance for doubtful accounts (2006—$7,526,
2005—$7,204) ..................................................... 177,625 132,019
Amounts receivable under government contracts ............................ 199,569 122,796
Incurred but not reported (IBNR) health care costs receivable under TRICARE
North contract ..................................................... 272,961 265,517
Other receivables ..................................................... 230,865 79,572
Deferred taxes ....................................................... 54,702 93,899
Other assets ......................................................... 161,280 111,512
Total current assets ........................................................ 3,217,846 2,911,618
Propertyandequipment,net ................................................ 151,184 125,773
Goodwill ................................................................ 751,949 723,595
Other intangible assets, net ................................................. 42,835 18,409
Deferred taxes ........................................................... 33,137 31,060
Other noncurrent assets .................................................... 100,071 130,267
Total Assets ............................................................. $4,297,022 $3,940,722
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Reserves for claims and other settlements .................................. $1,048,796 $1,040,171
Health care and other costs payable under government contracts ................ 52,384 62,536
IBNR health care costs payable under TRICARE North contract ............... 272,961 265,517
Unearned premiums ................................................... 164,099 106,586
Bridgeloan .......................................................... 200,000 —
Accounts payable and other liabilities ..................................... 371,263 364,266
Total current liabilities ..................................................... 2,109,503 1,839,076
Seniornotespayable ...................................................... — 387,954
Termloan ............................................................... 300,000 —
Other noncurrent liabilities ................................................. 108,554 124,617
Total Liabilities .......................................................... 2,518,057 2,351,647
Commitments and contingencies
Stockholders’ Equity:
Preferred stock ($0.001 par value, 10,000 shares authorized, none issued and
outstanding) ....................................................... — —
Common stock ($0.001 par value, 350,000 shares authorized; issued 2006—
140,690 shares; 2005—137,898 shares) ................................. 140 137
Restrictedcommonstock............................................... — 6,883
Unearned compensation ................................................ — (2,137)
Additionalpaid-incapital .............................................. 1,027,878 906,789
Treasury common stock, at cost (2006—28,815 shares of common stock; 2005—
23,182 shares of common stock) ....................................... (891,294) (633,375)
Retained earnings ..................................................... 1,653,478 1,324,165
Accumulatedothercomprehensiveloss ................................... (11,237) (13,387)
Total Stockholders’ Equity ................................................. 1,778,965 1,589,075
Total Liabilities and Stockholders’ Equity ..................................... $4,297,022 $3,940,722
See accompanying notes to consolidated financial statements.
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