The table below provides selected consolidated financial data of Anthem. The information has been derived from our consolidated financial statements for each of the years in the five year period ended December 31, 2015. 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, 2015 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 Annual Report on Form 10-K.
As of and for the Years Ended December 31
2015 1
2014 2
2013 2
2012 1, 2
2011 1
(in millions, except where indicated and except per share data)
Income Statement Data
Total operating revenue3
$
78,404.8
$
73,021.7
$
70,191.4
$
60,514.0
$
59,865.2
Total revenues
79,156.5
73,874.1
71,023.5
61,497.2
60,710.7
Income from continuing operations
2,560.0
2,560.1
2,634.3
2,651.0
2,646.7
Net income
2,560.0
2,569.7
2,489.7
2,655.5
2,646.7
Per Share Data
Basic net income per share - continuing operations
$
9.73
$
9.28
$
8.83
$
8.25
$
7.35
Diluted net income per share - continuing operations
9.38
8.96
8.67
8.17
7.25
Dividends per share
2.50
1.75
1.50
1.15
1.00
Other Data (unaudited)
Benefit expense ratio4
83.3
%
83.1
%
85.1
%
85.3
%
85.1
%
Selling, general and administrative expense ratio5
16.0
%
16.1
%
14.2
%
14.3
%
14.1
%
Income from continuing operations before income taxes as a percentage of total revenues
5.9
%
5.9
%
5.4
%
6.3
%
6.5
%
Net income as a percentage of total revenues
3.2
%
3.5
%
3.5
%
4.3
%
4.4
%
Medical membership (in thousands)
38,599
37,499
35,653
36,130
34,251
Balance Sheet Data
Cash and investments
$
23,124.7
$
23,777.7
$
22,395.9
$
22,464.6
$
20,696.5
Total assets6, 7
61,717.8
61,676.3
59,095.3
58,610.7
51,693.6
Long-term debt, less current portion6
15,324.5
14,019.6
13,477.4
14,069.3
8,420.9
Total liabilities6, 7
38,673.7
37,425.0
34,330.1
34,808.0
28,405.4
Total shareholders’ equity
23,044.1
24,251.3
24,765.2
23,802.7
23,288.2
1
The net assets of and results of operations for Simply Healthcare Holdings, Inc., AMERIGROUP Corporation and CareMore Health Group, Inc. are included from their respective acquisition dates of February 17, 2015, December 24, 2012 and August 22, 2011.
2
The operating results of 1-800 CONTACTS, Inc. are reported as discontinued operations at December 31, 2014, 2013 and 2012 as a result of the divestiture completed on January 31, 2014. Included in net income for the year ended December 31, 2014 is income from discontinued operations, net of tax, of $9.6. 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.
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.
6
Amounts as of December 31, 2014, 2013, 2012 and 2011 have been retroactively restated to reflect the reclassification of unamortized debt issuance costs from an asset to a contra-liability as a result of the adoption of Accounting Standards Update No. 2015-03, Interest—Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs, during the year ended December 31, 2015.
7
Amounts as of December 31, 2014, 2013, 2012 and 2011 have been retroactively restated to reflect the reclassification of current deferred tax assets from an asset to a contra-liability as a result of the adoption of Accounting Standards Update No. 2015-07, Balance Sheet Classification of Deferred Taxes, during the year ended December 31, 2015.
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