Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v2.4.0.6
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2011
Income Taxes [Abstract]  
Consolidated Income Tax Expense
     2011      2010      2009  

Current provision:

        

Federal

   $ 59,641       $ 46,259       $ 41,310   

State and local

     5,186         6,868         5,578   
  

 

 

    

 

 

    

 

 

 

Total current provision

     64,827         53,127         46,888   

Deferred provision

     1,695         6,773         1,953   
  

 

 

    

 

 

    

 

 

 

Total provision for income taxes

   $ 66,522       $ 59,900       $ 48,841   
  

 

 

    

 

 

    

 

 

 
Reconciliation Of The Tax Provision At The U.S. Federal Statutory Rate To The Provision For Income Taxes
    2011     2010     2009  

Earnings from continuing operations, before income tax expense

  $ 174,885      $ 154,282      $ 137,508   

Less noncontrolling interest

    (2,855     3,435        2,574   
 

 

 

   

 

 

   

 

 

 

Earnings from continuing operations, less noncontrolling interest, before income tax expense

    177,740        150,847        134,934   

Tax provision at the U.S. federal statutory rate

    62,209        52,797        47,227   

State income taxes, net of federal income tax benefit

    3,411        6,231        2,419   

Other, net

    902        872        (805
 

 

 

   

 

 

   

 

 

 

Income tax expense

  $ 66,522      $ 59,900      $ 48,841   
 

 

 

   

 

 

   

 

 

 

Effective tax rate

    37.4     39.7     36.2
Tax Effects Of Temporary Differences Which Give Rise To Deferred Tax Assets And Liabilities
     2011     2010  

Deferred tax assets:

    

Current:

    

Medical claims liability and other accruals

   $ 39,864      $ 25,418   

Unearned premium and other deferred revenue

     985        8,934   

Other

     640        1,999   
  

 

 

   

 

 

 

Current deferred tax assets

     41,489        36,351   

Valuation allowance

     (2,896     (741
  

 

 

   

 

 

 

Net current deferred tax assets

   $ 38,593      $ 35,610   
  

 

 

   

 

 

 

Non-current deferred tax assets:

    

State net operating loss carry forward

   $ 8,761      $ 4,841   

Purchase of noncontrolling interest

            13,223   

Stock compensation

     13,234        13,676   

Other

     13,456        8,599   
  

 

 

   

 

 

 

Non-current deferred tax assets

     35,451        40,339   

Valuation allowance

     (5,625     (4,400
  

 

 

   

 

 

 

Net non-current deferred tax assets

   $ 29,826      $ 35,939   
  

 

 

   

 

 

 

Deferred tax liabilities:

    

Current:

    

Prepaid assets and other

   $ 5,788      $ 4,350   
  

 

 

   

 

 

 

Net current deferred tax liabilities

   $ 5,788      $ 4,350   
  

 

 

   

 

 

 

Non-current deferred tax liabilities:

    

Intangible assets

   $ 10,756      $ 11,519   

Depreciation and amortization

     31,398        34,743   

Unrealized gain on investments

     2,877        3,613   

Other

     2,620        2,777   
  

 

 

   

 

 

 

Net non-current deferred tax liabilities

   $ 47,651      $ 52,652   
  

 

 

   

 

 

 

Net deferred tax assets

   $ 14,980      $ 14,547   
  

 

 

   

 

 

 
Reserve For Uncertain Tax Positions
     2011     2010  

Balance as January 1

   $ 3,036     $ 5,465  

Increase based on tax positions during the current year

     10,863       231  

Decreases based on tax positions taken in a prior period

     (347 )     (2,660 )
  

 

 

   

 

 

 

Balance as of December 31

   $ 13,552     $ 3,036