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, 2018. 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, 2018 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
2018 1
2017 1
2016
2015 1
2014 2
(in millions, except where indicated and except per share data)
Income Statement Data
Total operating revenue3
$
91,341
$
89,061
$
84,194
$
78,405
$
73,022
Total revenues
92,105
90,040
84,863
79,157
73,874
Income from continuing operations
3,750
3,843
2,470
2,560
2,560
Net income
3,750
3,843
2,470
2,560
2,570
Per Share Data
Basic net income per share - continuing operations
$
14.53
$
14.70
$
9.39
$
9.73
$
9.28
Diluted net income per share - continuing operations
14.19
14.35
9.21
9.38
8.96
Dividends per share
3.00
2.70
2.60
2.50
1.75
Other Data (unaudited)
Benefit expense ratio4
84.2
%
86.4
%
84.8
%
83.3
%
83.1
%
Selling, general and administrative expense ratio5
15.3
%
14.2
%
14.9
%
16.0
%
16.1
%
Income from continuing operations before income tax expense as a percentage of total revenues
5.5
%
4.4
%
5.4
%
5.9
%
5.9
%
Net income as a percentage of total revenues
4.1
%
4.3
%
2.9
%
3.2
%
3.5
%
Medical membership (in thousands)
39,938
40,299
39,940
38,599
37,499
Balance Sheet Data
Cash and investments6
$
22,639
$
25,179
$
23,263
$
21,065
$
22,062
Total assets
71,571
70,540
65,083
61,718
61,676
Long-term debt, less current portion
17,217
17,382
14,359
15,325
14,020
Total liabilities
43,030
44,037
39,982
38,673
37,425
Total shareholders’ equity
28,541
26,503
25,101
23,045
24,251
1
The net assets of and results of operations for America’s 1st Choice, HealthSun and Simply Healthcare are included from their respective acquisition dates of February 15, 2018, 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 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 $10.
3
Operating revenue is obtained by adding premiums and 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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