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, 2017. 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, 2017 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
2017 1
2016
2015 1
2014 2
2013 2
(in millions, except where indicated and except per share data)
Income Statement Data
Total operating revenue3
$
89,061.2
$
84,194.0
$
78,404.8
$
73,021.7
$
70,191.4
Total revenues
90,039.4
84,863.0
79,156.5
73,874.1
71,023.5
Income from continuing operations
3,842.8
2,469.8
2,560.0
2,560.1
2,634.3
Net income
3,842.8
2,469.8
2,560.0
2,569.7
2,489.7
Per Share Data
Basic net income per share - continuing operations
$
14.70
$
9.39
$
9.73
$
9.28
$
8.83
Diluted net income per share - continuing operations
14.35
9.21
9.38
8.96
8.67
Dividends per share
2.70
2.60
2.50
1.75
1.50
Other Data (unaudited)
Benefit expense ratio4
86.4
%
84.8
%
83.3
%
83.1
%
85.1
%
Selling, general and administrative expense ratio5
14.2
%
14.9
%
16.0
%
16.1
%
14.2
%
Income from continuing operations before income tax expense as a percentage of total revenues
4.4
%
5.4
%
5.9
%
5.9
%
5.4
%
Net income as a percentage of total revenues
4.3
%
2.9
%
3.2
%
3.5
%
3.5
%
Medical membership (in thousands)
40,244
39,919
38,599
37,499
35,653
Balance Sheet Data
Cash and investments6
$
25,179.0
$
23,262.7
$
21,064.5
$
22,061.6
$
21,107.0
Total assets
70,540.0
65,083.1
61,717.8
61,676.3
59,095.3
Long-term debt, less current portion
17,382.2
14,358.5
15,324.5
14,019.6
13,477.4
Total liabilities
44,037.1
39,982.7
38,673.7
37,425.0
34,330.1
Total shareholders’ equity
26,502.9
25,100.4
23,044.1
24,251.3
24,765.2
1
The net assets of and results of operations for HealthSun and Simply Healthcare are included from their respective acquisition dates of December 21, 2017 and February 17, 2015, respectively.
2
The operating results of 1-800 CONTACTS, Inc. are reported as discontinued operations at December 31, 2014 and 2013 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.
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
Cash and investments is obtained by adding cash and cash equivalents, current and long-term fixed maturity securities and current and long-term equity securities.
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