Years Ended December 31,
2013 |
2012 |
2011 |
|
| (In millions, except per share data) | |||
| Revenues | |||
| Premiums | $ 66,119.1 | $ 56,496.7 | $ 55,969.6 |
| Administrative fees | 4,031.9 | 3,934.1 | 3,854.6 |
| Other revenue | 40.4 | 83.2 | 41.0 |
| Total operating revenue | 70,191.4 | 60,514.0 | 59,865.2 |
| Net investment income | 659.1 | 686.1 | 703.7 |
| Net realized gains on investments | 271.9 | 334.9 | 235.1 |
| Other—than—temporary impairment losses on investments: | |||
| Total other—than—temporary impairment losses on investments |
(100.6) |
(41.2) |
(114.7) |
| Portion of other—than—temporary impairment losses recognized in other comprehensive income |
1.7 |
3.4 |
21.4 |
| Other—than—temporary impairment losses recognized in income |
(98.9) |
(37.8) |
(93.3) |
| Total revenues | 71,023.5 | 61,497.2 | 60,710.7 |
| Expenses | |||
| Benefit expense | 56,237.1 | 48,213.6 | 47,647.5 |
| Selling, general and administrative expense: | |||
| Selling expense | 1,526.9 | 1,586.9 | 1,616.8 |
| General and administrative expense | 8,426.0 | 7,093.6 | 6,818.8 |
| Total selling, general and administrative expense | 9,952.9 | 8,680.5 | 8,435.6 |
| Interest expense | 602.7 | 511.8 | 430.3 |
| Amortization of other intangible assets | 245.3 | 233.0 | 239.4 |
| Loss on extinguishment of debt | 145.3 | — | — |
| Total expenses | 67,183.3 | 57,638.9 | 56,752.8 |
| Income from continuing operations before income tax expense |
3,840.2 |
3,858.3 |
3,957.9 |
| Income tax expense | 1,205.9 | 1,207.3 | 1,311.2 |
| Income from continuing operations | 2,634.3 | 2,651.0 | 2,646.7 |
| (Loss) income from discontinued operations, net of tax |
(144.6) |
4.5 |
— |
| Net income | $ 2,489.7 | $ 2,655.5 | $ 2,646.7 |
| Basic net income (loss) per share: | |||
| Basic—continuing operations | $ 8.83 | $ 8.25 | $ 7.35 |
| Basic—discontinued operations | (0.49) |
0.01 | — |
| Basic net income per share | $ 8.34 | $ 8.26 | $ 7.35 |
| Diluted net income (loss) per share: | |||
| Diluted—continuing operations | $ 8.67 | $ 8.17 | $ 7.25 |
| Diluted—discontinued operations | (0.47) |
0.01 | — |
| Diluted net income per share | $ 8.20 | $ 8.18 | $ 7.25 |
| Dividends per share | $ 1.50 | $ 1.15 | $ 1.00 |
The information presented above should be read in conjunction with the audited financial statements and accompanying notes included in WellPoint’s 2013 Annual Report on Form 10—K.