Consolidated Statements of Income
2011 Annual Report
Years Ended December 31, |
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(In millions, except per share data) |
2011 |
2010 |
2009 |
Revenues |
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Premiums |
$55,969.6 |
$53,973.6 |
$56,382.0 |
Administrative fees |
3,854.6 |
3,730.4 |
3,751.7 |
Other revenue |
41.0 |
36.5 |
606.3 |
Total operating revenue |
59,865.2 |
57,740.5 |
60,740.0 |
Net investment income |
703.7 |
803.3 |
801.0 |
Gain on sale of business |
— |
— |
3,792.3 |
Net realized gains on investments |
235.1 |
194.1 |
56.4 |
Other-than-temporary impairment losses on investments: |
|
|
|
Total other-than-temporary impairment losses on investments |
(114.7) |
(70.8) |
(538.4) |
Portion of other-than-temporary impairment losses |
21.4 |
31.4 |
88.2 |
Other-than-temporary impairment losses recognized in income |
(93.3) |
(39.4) |
(450.2) |
Total revenues |
60,710.7 |
58,698.5 |
64,939.5 |
|
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Expenses |
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Benefit expense |
47,647.5 |
44,930.4 |
47,122.3 |
Selling, general and administrative expense: |
|
|
|
Selling expense |
1,616.8 |
1,610.3 |
1,685.5 |
General and administrative expense |
6,818.8 |
7,122.3 |
7,333.8 |
Total selling, general and administrative expense |
8,435.6 |
8,732.6 |
9,019.3 |
Cost of drugs |
— |
— |
419.0 |
Interest expense |
430.3 |
418.9 |
447.4 |
Amortization of other intangible assets |
239.4 |
241.7 |
266.0 |
Impairment of other intangible assets |
— |
21.1 |
262.5 |
Total expenses |
56,752.8 |
54,344.7 |
57,536.5 |
|
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Income before income tax expense |
3,957.9 |
4,353.8 |
7,403.0 |
Income tax expense |
1,311.2 |
1,466.7 |
2,657.1 |
Net Income |
$2,646.7 |
$2,887.1 |
$4,745.9 |
|
|||
Net income per share |
|||
Basic |
$7.35 |
$7.03 |
$9.96 |
Diluted |
$7.25 |
$6.94 |
$9.88 |
|
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Dividends per share |
$1.00 |
$— |
$— |
The information presented above should be read in conjunction with the audited financial statements and accompanying notes included in WellPoint’s 2011 Annual Report on Form 10-K.