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Anthem - Fundamentalanalyse - Jahresbericht / Bilanz / Geschäftsbericht

Anthem (ISIN: US0367521038, WKN: A12FMV) Kursdatum: 21.07.2017 Kurs: 190,650 USD
Beschreibung Daten
Symbol ANTM
Marktkapitalisierung 51.113.263.104,00 USD
Land Vereinigte Staaten von Amerika
Indizes S&P 500
Sektor Gesundheitswesen
Rohdaten nach US GAAP in Millionen USD
Aktiensplits 2005-06-01 - 2:1 |
Internet
Letztes Bilanz Update 22.02.2017

Fundamentaldaten

Fundamental Verhältnisse errechnet am: 21.07.2017
KFCV KCV DIV Rendite GKR EKQ KGV KUV KBV
19,50 15,95 1,36% 3,79 38,57 20,70 0,60 2,04

Firmenbeschreibung

Selected Quarterly Financial Data (Unaudited)Selected quarterly financial data is as follows: For the Quarter Ended March 31 June 30 September 30 December 312015       Total revenues$19,051.5 $20,015.5 $19,901.6 $20,187.9Income before income taxes1,569.1 1,558.0 1,129.6 374.3Net income865.2 859.1 654.8 180.9    Basic net income per share$3.25 $3.27 $2.51 $0.69Diluted net income per share3.09 3.13 2.43 0.68        2014       Total revenues$17,859.4 $18,473.4 $18,557.0 $18,984.3Income from continuing operations before income taxes1,130.1 1,263.7 1,087.2 887.1Income from continuing operations691.4 731.1 630.9 506.7Income from discontinued operations9.6 — — —Net income701.0 731.1 630.9 506.7        Basic net income per share - continuing operations$2.43 $2.64 $2.31 $1.88Basic net income per share - discontinued operations0.03 — — —Basic net income per share2.46 2.64 2.31 1.88        Diluted net income per share - continuing operations$2.37 $2.56 $2.22 $1.80Diluted net income per share - discontinued operations0.03 — — —Diluted net income per share2.40

Firmenstrategie

Principles of Consolidation. The Consolidated Financial Statements include the accounts of Mylan and those of its wholly owned and majority-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. Investments in equity method affiliates are recorded at cost and adjusted for the Company’s share of the affiliates’ cumulative results of operations, capital contributions and distributions. Noncontrolling interests in the Company’s subsidiaries are recorded net of tax as net earnings attributable to noncontrolling interests.

RevenueRecognitionPolicyTextBlock

Revenue Recognition: Premiums for fully-insured contracts are recognized as revenue over the period insurance coverage is provided, and, if applicable, net of amounts recognized for the Health Care Reform minimum MLR rebates, risk adjustment, reinsurance and risk corridor or contractual premium stabilization programs. Premium payments from contracted government agencies are based on eligibility lists produced by the government agencies. Premiums related to the unexpired contractual coverage periods are reflected in the accompanying consolidated balance sheets as unearned income. Premiums include revenue from retrospectively rated contracts where revenue is based on the estimated ultimate loss experience of the contract. Premium revenue includes an adjustment for retrospectively rated refunds based on an estimate of incurred claims. Premium rates for certain lines of business are subject to approval by the Department of Insurance of each respective state. Additionally, delays in annual premium rate changes from contracted government agencies require that we defer the recognition of any increases to the period in which the premium rates become final. The value of the impact can be significant in the period in which it is recognized dependent on the magnitude of the premium rate increase, the membership to which it applies and the length of the delay between the effective date of the rate increase and the final contract date. Premium rate decreases are recognized in the period the change in premium rate becomes effective and the change in the rate is known, which may be prior to the period when the contract amendment affecting the rate is finalized.

Administrative fees include revenue from certain group contracts that provide for the group to be at risk for all, or with supplemental insurance arrangements, a portion of their claims experience. We charge these self-funded groups an administrative fee, which is based on the number of members in a group or the group’s claim experience. In addition, administrative fees include amounts received for the administration of Medicare or certain other government programs. Under our self-funded arrangements, revenue is recognized as administrative services are performed. All benefit payments under these programs are excluded from benefit expense.

SegmentReportingDisclosureTextBlock

Segment Information

On May 20, 2013, we announced certain organizational and executive leadership changes to align with how our Chief Executive Officer is managing our operations. Beginning with the three months ended June 30, 2013, our organizational structure is comprised of three reportable segments: Commercial and Specialty Business; Government Business; and Other.

Our Commercial and Specialty Business segment includes our Local Group, National Accounts, Individual and Specialty businesses. Business units in the Commercial and Specialty Business segment offer fully-insured health products; provide a broad array of managed care services to self-funded customers including claims processing, underwriting, stop loss insurance, actuarial services, provider network access, medical cost management, disease management, wellness programs and other administrative services; and provide an array of specialty and other insurance products and services such as dental, vision, life and disability insurance benefits, radiology benefit management and analytics-driven personal health care guidance.

Our Government Business segment includes Medicare and Medicaid businesses, National Government Services, or NGS, and services provided to the federal government in connection with FEP. Medicare business includes services such as Medicare Advantage, Medicare Part D, and Medicare Supplement. Medicaid business includes our managed care alternatives through publicly funded health care programs, including Medicaid, Temporary Assistance for Needy Family programs, programs for seniors and people with disabilities, programs for long-term services and support, Children’s Health Insurance Programs and ACA-related Medicaid expansion programs. NGS acts as a Medicare contractor for the federal government in several regions across the nation.

Our Other segment includes other businesses that do not meet the quantitative thresholds for an operating segment as defined by FASB guidance, as well as corporate expenses not allocated to the other reportable segments.

We define operating revenues, a non-GAAP measure, to include premium income, administrative fees and other revenues. Operating revenues are derived from premiums and fees received primarily from the sale and administration of health benefit products. Operating gain, a non-GAAP measure, is calculated as total operating revenue less benefit expense and selling, general and administrative expense.

Through our participation in various federal government programs, we generated approximately 18.8%, 21.0% and 20.3% of our total consolidated revenues from agencies of the U.S. government for the years ended December 31, 2015, 2014, and 2013, respectively. These revenues are contained in the Government Business segment.

The accounting policies of the segments are consistent with those described in the summary of significant accounting policies in Note 2, “Basis of Presentation and Significant Accounting Policies,” except that certain shared administrative expenses for each segment are recognized on a pro rata allocated basis, which in aggregate approximates the consolidated expense. Any difference between the allocated expenses and actual consolidated expense is included in other expenses not allocated to reportable segments. Intersegment sales and expenses are recorded at cost and eliminated in the consolidated financial statements. We evaluate performance of the reportable segments based on operating gain or loss as defined above. We evaluate net investment income, net realized gains on investments, OTTI losses recognized in income, interest expense, amortization expense, gain or loss on extinguishment of debt, income taxes, assets and liabilities on a consolidated basis as these items are managed in a corporate shared service environment and are not the responsibility of segment operating management.

Financial data by reportable segment for the years ended December 31 is as follows:

 
Commercial and Specialty Business
 
Government Business
 
Other
 
Total
Year ended December 31, 2015
 
 
 
 
 
 
 
Operating revenue
$
37,570.8

 
$
40,813.0

 
$
21.0

 
$
78,404.8

Operating gain (loss)
2,854.0

 
1,978.5

 
(79.4
)
 
4,753.1

Depreciation and amortization of property and equipment

 

 
515.6

 
515.6

Year ended December 31, 2014
 
 
 
 
 
 
 
Operating revenue
$
39,199.6

 
$
33,796.4

 
$
25.7

 
$
73,021.7

Operating gain (loss)
3,260.9

 
1,191.9

 
(34.4
)
 
4,418.4

Depreciation and amortization of property and equipment

 

 
474.3

 
474.3

Year ended December 31, 2013
 
 
 
 
 
 
 
Operating revenue
$
39,404.2

 
$
30,752.6

 
$
34.6

 
$
70,191.4

Operating gain (loss)
3,176.4

 
844.0

 
(19.0
)
 
4,001.4

Depreciation and amortization of property and equipment

 

 
457.1

 
457.1


 

The major product revenues for each of the reportable segments for the years ended December 31 are as follows:

EarningsPerSharePolicyTextBlock

Earnings per Share: Earnings per share amounts, on a basic and diluted basis, have been calculated based upon the weighted-average common shares outstanding for the period.

Basic earnings per share excludes dilution and is computed by dividing income available to common shareholders by the weighted-average number of common shares outstanding for the period. Diluted earnings per share includes the dilutive effect of stock options, restricted stock and convertible debentures, using the treasury stock method. The treasury stock method assumes exercise of stock options and vesting of restricted stock, with the assumed proceeds used to purchase common stock at the average market price for the period. The difference between the number of shares assumed issued and number of shares assumed purchased represents the dilutive shares.

 
2015
 
2014
 
2013
Commercial and Specialty Business
 
 
 
 
 
Managed care products
$
31,676.9

 
$
33,755.6

 
$
34,516.9

Managed care services
4,344.8

 
3,997.8

 
3,474.0

Dental/Vision products and services
1,111.7

 
1,037.3

 
952.5

Other
437.4

 
408.9

 
460.8

Total Commercial and Specialty Business
37,570.8

 
39,199.6

 
39,404.2

Government Business
 
 
 
 
 
Managed care products
40,307.0

 
33,344.6

 
30,347.1