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UNIVERSAL AMERICAN CORP. (UAM)
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| Income Statement |
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Annual | Quarterly | TTM |
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| In millions, except per share items | Dec-31-16 | Dec-31-15 | Dec-31-14 | Dec-31-13 | Dec-31-12 | Dec-31-11 | Dec-31-10 | Dec-31-09 |
| | 10-K | 10-K | 10-K | 10-K | 10-K/A | 10-K | 10-K | 10-K |
| Revenues: |
| Medicare Advantage | 1,376.4 | 1,256.0 | 1,410.3 | 1,637.2 | 1,642.8 | | | |
| Corporate & Other | 2.3 | 7.2 | 8.5 | 6.4 | 264.6 | 15.2 | 11.3 | 43.1 |
| Net realized (losses) gains | 1.4 | 39.0 | | | | | | |
| MSO | 0.0 | | | | | | | |
| Other | | | | 19.7 | 270.2 | 2,270.2 | 3,490.1 | 2,936.3 |
| Total revenues | 1,379.6 | 1,301.4 | 1,417.1 | 1,663.3 | 2,177.5 | 2,285.4 | 3,501.4 | 2,979.4 |
| Revenue growth | 6.0% | -8.2% | -14.8% | -23.6% | -4.7% | -34.7% | 17.5% | |
| Loss and loss adjustment expenses | 1,153.8 | 1,074.5 | 1,172.6 | 1,388.6 | 1,624.6 | 1,807.3 | 2,863.0 | 2,411.6 |
| Policy acquisition costs | | | | | | 26.0 | 32.7 | |
| Investment expenses | 0.6 | 0.6 | 0.8 | 1.1 | 2.3 | 2.4 | 2.5 | |
| Other operating expenses | 214.3 | 221.5 | 270.2 | 283.7 | 466.8 | 437.7 | 456.8 | 507.9 |
| Equity in earnings | -5.0 | 9.6 | 17.8 | -33.6 | -10.2 | | 7.4 | -7.6 |
| EBITDA | 14.6 | 10.2 | -19.2 | -1.0 | 118.7 | 64.0 | 164.6 | 76.5 |
| EBITDA margin | 1.1% | 0.8% | -1.4% | -0.1% | 5.5% | 2.8% | 4.7% | 2.6% |
| Depreciation | 2.8 | 3.3 | 4.7 | 6.1 | 10.1 | 9.8 | 10.9 | 11.7 |
| EBITA | 11.9 | 6.9 | -23.9 | -7.1 | 108.6 | 54.2 | 153.6 | 64.8 |
| EBITA margin | 0.9% | 0.5% | -1.7% | -0.4% | 5.0% | 2.4% | 4.4% | 2.2% |
| Amortization of intangibles | 0.9 | 2.1 | 2.6 | 3.1 | 8.1 | 4.4 | 7.3 | 7.5 |
| EBIT | 10.9 | 4.8 | -26.5 | -10.2 | 100.5 | 49.8 | 146.4 | 57.2 |
| EBIT margin | 0.8% | 0.4% | -1.9% | -0.6% | 4.6% | 2.2% | 4.2% | 1.9% |
| Interest expense | 7.9 | 4.7 | 6.2 | 6.5 | 6.2 | 2.3 | 20.1 | 0.0 |
| Interest expense | 7.9 | 4.7 | 6.2 | 6.5 | 6.2 | 2.3 | 20.1 | |
| Pre-tax income | 3.1 | 0.1 | -32.7 | -16.7 | 77.6 | 9.9 | 126.3 | 59.9 |
| Income taxes | 9.3 | 3.8 | -6.1 | -4.8 | 24.6 | 7.2 | 38.7 | 19.1 |
| Tax rate | 306.0% | 4252.8% | 18.7% | 28.7% | 31.7% | 72.6% | 30.6% | 31.9% |
| Earnings from continuing ops | -6.3 | -3.7 | -26.6 | -11.9 | 53.0 | 2.7 | 87.6 | 40.8 |
| Earnings from discontinued ops | | | | | | -50.9 | 104.2 | 99.5 |
| Net income | 55.4 | -164.0 | -29.5 | -11.9 | 53.0 | -48.2 | 189.3 | 140.3 |
| Net margin | 4.0% | -12.6% | -2.1% | -0.7% | 2.4% | -2.1% | 5.4% | 4.7% |
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| Basic EPS | ($0.09) | ($0.04) | ($0.32) | ($0.14) | $0.61 | $0.03 | $1.19 | $0.53 |
| Diluted EPS | ($0.09) | ($0.04) | ($0.32) | ($0.14) | $0.61 | $0.03 | $1.11 | $0.50 |
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| Shares outstanding (basic) | 70.7 | 82.4 | 83.9 | 87.4 | 86.4 | 78.6 | 73.9 | 76.9 |
| Shares outstanding (diluted) | 70.7 | 82.4 | 83.9 | 87.4 | 86.6 | 80.6 | 78.7 | 81.2 |
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| EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |
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