Health Net 2007 Annual Report Download - page 153
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SUPPLEMENTAL SCHEDULE I
CONDENSED FINANCIAL INFORMATION OF REGISTRANT
(PARENT COMPANY ONLY)
HEALTH NET, INC.
NOTE TO CONDENSED FINANCIAL STATEMENTS
Note 1—Basis of Presentation
Health Net, Inc.’s (HNT) investment in subsidiaries is stated at cost plus equity in undistributed earnings
(losses) of subsidiaries. HNT’s share of net income (loss) of its unconsolidated subsidiaries is included in
consolidated income using the equity method.
This condensed financial information of registrant (parent company only) should be read in conjunction
with the consolidated financial statements of Health Net, Inc. and subsidiaries.
Note 2 —Restatement
We have restated certain amounts on the condensed statements of cash flows for the years ended December
31, 2006 and 2005. Prior to 2007, dividends received from subsidiaries and capital contributions to subsidiaries
had been reported as part of net cash provided by (used in) financing activities. Dividends received from
subsidiaries should have been reported as part of net cash flows provided by operating activities and capital
contributions to subsidiaries should have been reported as part of net cash used in investing activities. This
restatement has no impact to the condensed balance sheets or condensed statements of operations as previously
reported.
The following table summarizes the restatement adjustments and their impact on our condensed statements
of cash flows as previously reported for the years ended December 31, 2006 and 2005.
Year Ended December 31,
2006 2005
Net cash provided by operating activities as previously reported ................... $ 36,288 $ 29,574
Dividends received from subsidiaries ........................................ 146,900 10,000
Net cash provided by operating activities as restated ............................. $183,188 $ 39,574
Net cash provided by investing activities as previously reported ................... $(122,578) $ 66,110
Capital contributions to subsidiaries ......................................... — (160,074)
Net cash provided by investing activities as restated ............................. $(122,578) $ (93,964)
Net cash provided by financing activities as previously reported ................... $ 96,713 $ 2,255
Dividends received from subsidiaries ........................................ (146,900) (10,000)
Capital contributions to subsidiaries ......................................... — 160,074
Net cash provided by financing activities as restated ............................. $ (50,187) $ 152,329
F-57