Health Net 2015 Annual Report Download - page 164

F-3
HEALTH NET, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(Amounts in thousands, except per share data)
Year Ended December 31,
2015 2014 2013
Revenues
Health plan services premiums......................................................... $ 15,553,348 $ 13,361,170 $ 10,377,073
Government contracts....................................................................... 628,451 603,975 572,266
Net investment income ..................................................................... 55,494 45,166 69,613
Administrative services fees and other income ................................ 6,294 (1,725) 34,791
Total revenues......................................................................... 16,243,587 14,008,586 11,053,743
Expenses
Health plan services (excluding depreciation and amortization)...... 13,041,036 11,307,751 8,886,547
Government contracts....................................................................... 603,841 536,643 502,918
General and administrative............................................................... 1,816,166 1,552,364 1,083,694
Selling............................................................................................... 270,174 262,338 239,428
Depreciation and amortization.......................................................... 22,533 29,786 38,589
Interest .............................................................................................. 33,309 31,376 32,614
Asset impairment.............................................................................. 1,884 88,536 —
Total expenses......................................................................... 15,788,943 13,808,794 10,783,790
Income from operations before income taxes ............................................ 454,644 199,792 269,953
Income tax provision.................................................................................. 268,967 54,163 99,827
Net income ................................................................................................. $ 185,677 $ 145,629 $ 170,126
Net income per share:
Basic................................................................................................. $ 2.40 $ 1.83 $ 2.14
Diluted.............................................................................................. $ 2.37 $ 1.80 $ 2.12
Weighted average shares outstanding:
Basic ................................................................................................. 77,212 79,602 79,455
Diluted .............................................................................................. 78,358 80,777 80,404
See accompanying notes to consolidated financial statements.