Health Net 2007 Annual Report Download - page 100

HEALTH NET, INC.
CONSOLIDATED BALANCE SHEETS
(Amounts in thousands)
December 31,
2007 2006
ASSETS
Current Assets:
Cash and cash equivalents .................................................. $1,007,017 $ 704,806
Investments—available for sale (amortized cost: 2007—$1,557,411,
2006—$1,430,792) ..................................................... 1,557,278 1,416,038
Premiums receivable, net of allowance for doubtful accounts (2007—$6,724,
2006—$7,526) ......................................................... 264,691 177,625
Amounts receivable under government contracts ................................ 189,976 199,569
Incurred but not reported (IBNR) health care costs receivable under TRICARE
North contract ......................................................... 266,767 272,961
Other receivables ......................................................... 72,518 230,865
Deferred taxes ........................................................... 132,818 54,702
Other assets ............................................................. 210,039 161,280
Total current assets ........................................................... 3,701,104 3,217,846
Property and equipment, net .................................................... 178,758 151,184
Goodwill ................................................................... 751,949 751,949
Other intangible assets, net ..................................................... 109,386 42,835
Deferred taxes ............................................................... 47,765 33,137
Other noncurrent assets ........................................................ 144,093 100,071
Total Assets ................................................................. $4,933,055 $4,297,022
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Reserves for claims and other settlements ..................................... $1,300,432 $1,048,796
Health care and other costs payable under government contracts .................... 69,014 52,384
IBNR health care costs payable under TRICARE North contract ................... 266,767 272,961
Unearned premiums ...................................................... 176,981 164,099
Loans payable and other financing arrangement ................................. 35,000 200,000
Accounts payable and other liabilities ........................................ 463,823 371,263
Total current liabilities ........................................................ 2,312,017 2,109,503
Senior notes payable .......................................................... 398,071 —
Loans payable and other financing arrangement ..................................... 112,363 300,000
Other noncurrent liabilities ..................................................... 235,022 108,554
Total Liabilities .............................................................. 3,057,473 2,518,057
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 2007—143,477
shares; 2006—140,690 shares) ............................................ 144 140
Additional paid-in capital .................................................. 1,151,251 1,027,878
Treasury common stock, at cost (2007—33,178 shares of common stock; 2006—28,815
shares of common stock) ................................................. (1,123,750) (891,294)
Retained earnings ........................................................ 1,849,097 1,653,478
Accumulated other comprehensive loss ....................................... (1,160) (11,237)
Total Stockholders’ Equity ..................................................... 1,875,582 1,778,965
Total Liabilities and Stockholders’ Equity ......................................... $4,933,055 $4,297,022
See accompanying notes to consolidated financial statements.
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