Annual report pursuant to Section 13 and 15(d)

Consolidated Statements Of Cash Flows

v2.4.0.8
Consolidated Statements Of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Cash flows from operating activities:      
Net earnings (loss) $ 165,718 $ (11,295) $ 108,363
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities      
Depreciation and amortization 67,420 65,866 58,327
Stock compensation expense 36,656 25,332 18,171
Impairment loss 0 28,033   
Gain on sale of investment in convertible note 0 (17,880) 0
Debt extinguishment costs 0 0 8,488
Deferred income taxes (2,293) (14,438) 2,031
Changes in assets and liabilities      
Premium and related receivables (142,977) (116,558) (11,306)
Other current assets (79,588) (36,818) (11,812)
Other assets (736) 2,825 (2)
Medical claims liabilities 171,569 359,792 149,756
Unearned revenue 2,724 24,707 (109,082)
Accounts payable and accrued expenses 151,712 (21,474) 38,889
Other operating activities 12,321 (9,401) 9,873
Net cash provided by operating activities 382,526 278,691 261,696
Cash flows from investing activities:      
Capital expenditures (67,835) (82,144) (73,708)
Purchases of investments (790,653) (695,687) (318,397)
Sales and maturities of investments 579,161 589,921 267,404
Investments in acquisitions, net of cash acquired (62,773) 0 (4,375)
Net cash used in investing activities (342,100) (187,910) (129,076)
Cash flows from financing activities:      
Proceeds from exercise of stock options 8,983 15,912 15,815
Proceeds from borrowings 180,000 400,500 419,183
Proceeds from stock offering 15,225 0 0
Payment of long-term debt (41,593) (218,234) (416,283)
Excess tax benefits from stock compensation 6,380 10,996 4,435
Common stock repurchases (19,779) (12,741) (7,809)
Contribution from (to) noncontrolling interest 8,068 1,092 813
Purchase of noncontrolling interest 0 (14,429) 0
Debt issue costs (3,589) (3,623) (9,242)
Net cash provided by financing activities 153,695 179,473 6,912
Net increase in cash and cash equivalents 194,121 270,254 139,532
Cash and cash equivalents, beginning of period 843,952 573,698 434,166
Cash and cash equivalents, end of period 1,038,073 843,952 573,698
Supplemental disclosures of cash flow information:      
Interest paid 30,009 21,605 27,383
Income taxes paid 84,681 42,877 50,444
Equity issued in connection with acquisition $ 75,425 $ 0 $ 0