Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements Of Cash Flows

v2.4.0.8
Consolidated Statements Of Cash Flows (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Cash flows from operating activities:    
Net earnings (loss) $ 80,473 $ 61,922
Adjustments to reconcile net earnings (loss) to net cash provided by (used in) operating activities    
Depreciation and amortization 42,101 32,928
Stock compensation expense 22,750 16,955
Deferred income taxes (11,258) 10,715
Changes in assets and liabilities    
Premium and related receivables (160,714) (71,230)
Other current assets 28,826 (35,879)
Other assets (28,733) (38,191)
Medical claims liabilites 284,134 111,625
Unearned revenue (18,066) (12,068)
Accounts payable and accrued expenses 160,128 (1,488)
Other operating activities 12,248 5,650
Net cash provided by (used in) operating activities 411,889 80,939
Cash flows from investing activities:    
Capital expenditures (41,568) (30,057)
Purchases of investments (475,347) (537,590)
Sales and maturities of investments 221,342 358,971
Investments in acquisitions, net of cash acquired (94,004) (66,832)
Net cash used in investing activities (389,577) (275,508)
Cash flows from financing activities:    
Proceeds from exercise of stock options 3,670 3,867
Proceeds from borrowings 1,145,000 30,000
Payment of long-term debt (945,892) (10,118)
Proceeds from stock offering 0 15,239
Excess tax benefits from stock compensation 1,115 1,113
Common stock repurchases (4,869) (1,105)
Contribution from noncontrolling interest 5,407 3,920
Debt issue costs (6,019) (3,587)
Net cash provided by financing activities 198,412 39,329
Net decrease in cash and cash equivalents 220,724 (155,240)
Cash and cash equivalents, beginning of period 1,038,073 843,952
Cash and cash equivalents, end of period 1,258,797 688,712
Supplemental disclosures of cash flow information:    
Interest paid 16,439 15,170
Income taxes paid 110,118 21,694
Equity issued in connection with acquisition $ 132,371 $ 75,438