Health Net 2013 Annual Report Download - page 164

Download and view the complete annual report

Please find page 164 of the 2013 Health Net annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 178

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178

HEALTH NET, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
F-60
2012
March 31 June 30 September 30 December 31
(Dollars in millions, except per share data)
Total revenues....................................... $ 2,830.4 $ 2,841.3 $ 2,779.6 $ 2,837.8 (5)
Health plan services costs..................... 2,343.7 2,358.5 2,281.4 2,332.8
Government contracts costs.................. 162.3 153.4 151.8 137.5
(Loss) income from continuing
operations before income taxes ............ (13.6) 7.4 29.4 8.4
(Loss) income on discontinued
operation, net of tax.............................. (18.5) 119.4 (2.5)(2.2)
Net (loss) income.................................. (26.6) (1) 124.6 (2) 18.0 (3) 6.0 (4) (5)
Basic (loss) earnings per share from
continuing operations $ (0.10) $ 0.06 $ 0.25 $ 0.10
Diluted (loss) earnings per share from
continuing operations (6) $ (0.10) $ 0.06 $ 0.25 $ 0.10
Basic (loss) earnings per share on
discontinued operation (6) $ (0.22) $ 1.44 $ (0.03) $ (0.03)
Diluted (loss) earnings per share on
discontinued operation (6) $ (0.22) $ 1.42 $ (0.03) $ (0.03)
Basic (loss) earnings per share (6) $ (0.32) $ 1.50 $ 0.22 $ 0.07
Diluted (loss) earnings per share (6) $ (0.32) $ 1.48 $ 0.22 $ 0.07
__________
(1) Includes $25.0 million of adverse development related to prior periods recorded as part of health care costs, a
$9.5 million expense related to our G&A cost reduction efforts and an unfavorable $0.7 million in pretax
litigation reserve adjustment. Also includes a $6.5 million insurance reimbursement related to a prior legal
settlement.
(2) Includes $119.4 million gain on sale of discontinued operation related to the sale of our Medicare PDP business to
CVS Caremark. Also includes $7.9 million of adverse development related to prior years recorded as part of
health care costs, and a $10.8 million expense related to our G&A cost reduction efforts.
(3) Includes a $2.4 million unfavorable adjustment to the gain on sale of discontinued operation and a $7.2 million
expense related to our G&A cost reduction efforts.
(4) Includes a $2.2 million unfavorable adjustment to the gain on sale of discontinued operation, an $8.2 million
expense related to our G&A cost reduction efforts, a $5.0 million expense related to the early termination of a
medical management contract and $7.1 million of litigation-related expenses.
(5) Includes $31.5 million of premium revenue as a result of Medicaid/Medi-Cal retroactive rate adjustment related
to the third quarter of 2012 and prior periods.
(6) The sum of the quarterly amounts may not equal the year-to-date amounts due to rounding.