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Financials • Performance

Consolidated Balance Sheets (in millions) December 31, 2015 December 31, 2014
Assets    
Cash and cash equivalents $1,516.6 $1,108.6
Investments 4,766.3 5,347.1
Accounts receivable 2,645.7 2,537.6
Property and equipment, net 1,752.2 1,628.8
Goodwill and other intangible assets, net 842.3 833.1
Other assets 1,626.4 1,398.1
Total assets $13,149.5 $12,853.3
Liabilities and Net Assets    
Claims outstanding $2,908.5 $2,391.5
Unearned premium revenue 291.9 300.5
Amounts held for others 500.7 488.6
Benefit plan liabilities 870.1 811.6
Debt 1,714.6 1,703.7
Other liabilities 1,700.1 1,746.4
Total liabilities 7,985.9 7,442.3
Total net assets 5,163.6 5,411.0
Total liabilities and net assets $13,149.5 $12,853.3
Consolidated Statements of Operations (in millions) Years Ended December 31,
2015 2014
Premium and management services revenue $14,116.1 $13,664.4
Net patient service revenue 1,854.3 1,646.0
Vision and other revenue 1,696.5 1,440.9
Total unrestricted revenue 17,666.9 16,751.3
Claims incurred 11,423.2 10,641.6
Depreciation and amortization 300.2 288.8
Other operating expense 6,489.5 6,015.3
Change in premium deficiency reserves 19.0 (16.4)
Total expenses 18,231.9 16,929.3
Operating loss (565.0) (178.0)
Net investment income 294.1 253.8
Interest expense (60.6) (62.8)
Nonoperating income (expenses) 5.4 (3.3)
(Deficit) excess of revenue over expenses before merger (326.1) 9.7
Net assets acquired through merger 249.3
(Deficit) excess of revenue over expenses before income taxes (76.8) 9.7
Income tax provision 7.9 92.7
Deficit of revenue over expenses $(84.7) $(83.0)
Consolidated Statements of Cash Flows (in millions) Years Ended December 31,
2015 2014
Net cash provided by (used in) operating activities $22.1 $(267.2)
Net cash provided by investing activities 478.6 65.4
Net cash (used in) provided by financing activities (92.7) 35.9
Increase (decrease) in cash and cash equivalents 408.0 (165.9)
Cash and cash equivalents, Beginning of year 1,108.6 1,274.5
Cash and cash equivalents, End of year $1,516.6 $1,108.6
     

Read our financial overview.

Fast Fact

2015 consolidated revenues for the Highmark Health organization were $17.7 billion.


Highmark Health
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