Health Net 2007 Annual Report Download - page 99
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HEALTH NET, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(Amounts in thousands, except per share data)
Year Ended December 31,
2007 2006 2005
Revenues
Health plan services premiums ............................ $11,435,314 $10,364,740 $ 9,506,865
Government contracts ................................... 2,501,677 2,376,014 2,307,483
Net investment income ................................... 120,176 111,042 72,751
Administrative services fees and other income ................ 51,104 56,554 53,434
Total revenues ..................................... 14,108,271 12,908,350 11,940,533
Expenses
Health plan services (excluding depreciation and amortization) . . . 9,762,896 8,600,443 8,013,017
Government contracts ................................... 2,307,610 2,234,535 2,211,253
General and administrative ............................... 1,275,555 1,165,313 956,840
Selling ............................................... 327,827 245,304 221,555
Depreciation and amortization ............................. 42,982 25,591 33,694
Interest ............................................... 32,497 51,179 44,631
Debt refinancing charge .................................. — 70,095 —
Litigation, severance and related benefit costs ................ — 37,093 83,279
Total expenses ..................................... 13,749,367 12,429,553 11,564,269
Income from operations before income taxes ..................... 358,904 478,797 376,264
Income tax provision ........................................ 165,207 149,484 146,479
Net income ................................................ $ 193,697 $ 329,313 $ 229,785
Net income per share:
Basic ................................................. $ 1.74 $ 2.86 $ 2.03
Diluted ............................................... $ 1.70 $ 2.78 $ 1.99
Weighted average shares outstanding:
Basic ................................................. 111,316 115,128 112,918
Diluted ............................................... 113,829 118,310 115,641
See accompanying notes to consolidated financial statements.
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