| 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 |
Fast Fact
2015 consolidated revenues for the Highmark Health organization were $17.7 billion.
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Highmark Health is an independent licensee of the Blue Cross Blue Shield Association.
