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, 2016. 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, 2016 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
2016
2015 1
2014 2
2013 2
2012 1, 2
(in millions, except where indicated and except per share data)
Income Statement Data
Total operating revenue3
$
84,194.0
$
78,404.8
$
73,021.7
$
70,191.4
$
60,514.0
Total revenues
84,863.0
79,156.5
73,874.1
71,023.5
61,497.2
Income from continuing operations
2,469.8
2,560.0
2,560.1
2,634.3
2,651.0
Net income
2,469.8
2,560.0
2,569.7
2,489.7
2,655.5
Per Share Data
Basic net income per share - continuing operations
$
9.39
$
9.73
$
9.28
$
8.83
$
8.25
Diluted net income per share - continuing operations
9.21
9.38
8.96
8.67
8.17
Dividends per share
2.60
2.50
1.75
1.50
1.15
Other Data (unaudited)
Benefit expense ratio4
84.8
%
83.3
%
83.1
%
85.1
%
85.3
%
Selling, general and administrative expense ratio5
14.9
%
16.0
%
16.1
%
14.2
%
14.3
%
Income from continuing operations before income taxes as a percentage of total revenues
5.4
%
5.9
%
5.9
%
5.4
%
6.3
%
Net income as a percentage of total revenues
2.9
%
3.2
%
3.5
%
3.5
%
4.3
%
Medical membership (in thousands)
39,919
38,599
37,499
35,653
36,130
Balance Sheet Data
Cash and investments
$
25,519.0
$
23,124.7
$
23,777.7
$
22,395.9
$
22,464.6
Total assets
65,083.1
61,717.8
61,676.3
59,095.3
58,610.7
Long-term debt, less current portion
14,358.5
15,324.5
14,019.6
13,477.4
14,069.3
Total liabilities
39,982.7
38,673.7
37,425.0
34,330.1
34,808.0
Total shareholders’ equity
25,100.4
23,044.1
24,251.3
24,765.2
23,802.7
1
The net assets of and results of operations for Simply Healthcare Holdings, Inc. and AMERIGROUP Corporation are included from their respective acquisition dates of February 17, 2015 and December 24, 2012.
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.
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