The table below provides selected consolidated financial data of WellPoint. The information has been derived from our consolidated financial statements for each of the years in the five year period ended December 31, 2013. You should read this selected consolidated financial data in conjunction with the audited consolidated financial statements and notes as of and for the year ended December 31, 2013 included in Part II, Item 8 “Financial Statements and Supplementary Data”, and Part II, Item 7 “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included in this Form
10-K.
As of and for the Years Ended December 31
2013 1
2012 1,2
2011 2
2010
2009 2
(in millions, except where indicated and except per share data)
Income Statement Data
Total operating revenue3
$
70,191.4
$
60,514.0
$
59,865.2
$
57,740.5
$
60,740.0
Total revenues
71,023.5
61,497.2
60,710.7
58,698.5
64,939.5
Income from continuing operations
2,634.3
2,651.0
2,646.7
2,887.1
4,745.9
Net income
2,489.7
2,655.5
2,646.7
2,887.1
4,745.9
Per Share Data
Basic net income per share - continuing operations
$
8.83
$
8.25
$
7.35
$
7.03
$
9.96
Diluted net income per share - continuing operations
8.67
8.17
7.25
6.94
9.88
Dividends per share
1.50
1.15
1.00
—
—
Other Data (unaudited)
Benefit expense ratio4
85.1
%
85.3
%
85.1
%
83.2
%
83.6
%
Selling, general and administrative expense ratio5
14.2
%
14.3
%
14.1
%
15.1
%
14.8
%
Income from continuing operations before income taxes as a percentage of total revenues
5.4
%
6.3
%
6.5
%
7.4
%
11.4
%
Net income as a percentage of total revenues
3.5
%
4.3
%
4.4
%
4.9
%
7.3
%
Medical membership (in thousands)
35,653
36,130
34,251
33,323
33,670
Balance Sheet Data
Cash and investments
$
22,395.9
$
22,464.6
$
20,696.5
$
20,311.8
$
22,610.9
Total assets
59,574.5
58,955.4
52,163.2
50,242.5
52,147.9
Long-term debt, less current portion
13,573.6
14,170.8
8,465.7
8,147.8
8,338.3
Total liabilities
34,809.3
35,152.7
28,875.0
26,429.9
27,284.6
Total shareholders’ equity
24,765.2
23,802.7
23,288.2
23,812.6
24,863.3
1
The operating results of 1-800 CONTACTS, Inc. are reported as discontinued operations at December 31, 2013 as a result of the pending divestiture. Included in Net income for the year ended December 31, 2013 is a loss from discontinued operations, net of tax, of $144.6. Included in Net income for the year ended December 31, 2012 is income from discontinued operations, net of tax, of $4.5.
2
The net assets of and results of operations for AMERIGROUP Corporation are included from its acquisition date of December 24, 2012. The net assets of and results of operations for CareMore Health Group, Inc. are included from its acquisition date of August 22, 2011. The net assets of and results of operations for DeCare Dental, LLC are included from its acquisition date of April 9, 2009. The results of operations for our pharmacy benefits management, or PBM, business are included until its sale on December 1, 2009. The results of operations for the year ended December 31, 2009 includes pre-tax and after-tax gains related to the sale of our PBM business of $3,792.3 and $2,361.2, respectively.
3
Operating revenue is obtained by adding premiums, administrative fees and other revenue.
4
The benefit expense ratio represents benefit expenses as a percentage of premium revenue.
5
The selling, general and administrative expense ratio represents selling, general and administrative expenses as a percentage of total operating revenue.
filings.tools