pense of $41.3 million associated with the Medi-Cal charge was calculated by applying a combined federal and the applicable state tax rate of 36% to the portion of the settlement for which a tax benefit has been recorded. Income tax expense of $4.8 million associated with transaction costs was calculated by applying a combined federal and state rate of 38.7% to those costs for which a tax benefit has been recorded. For the estimated impact of severe weather, restructuring and integration charges, and CEO succession costs, income tax expense was calculated using a combined federal and state rate of 38.7%.
Three months ended December 31, 2010(dollars in millions, except per share data)
Operating income as a % of net revenues
Income from continuing operations (k)
Diluted earnings per common share
Includes $9.6 million of pre-tax restructuring charges, principally associated with workforce reductions.
For both the restructuring charges, and the employment litigation settlement, income tax expense was calculated using a combined federal and state rate of 39%.
Twelve months ended December 31, 2010(dollars in millions, except per share data)
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