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WellPoint Reports Second Quarter 2009 Results
Date:7/29/2009

$0.54 per share. This projection includes no investment gains or losses beyond those recorded during the six months ended June 30, 2009.

  • Year-end medical enrollment is now expected to be approximately 33.6 million members.

  • Operating revenue is now expected to total approximately $60.6 billion.

  • The benefit expense ratio is now expected to be approximately 82.9 percent.

  • The SG&A expense ratio is now expected to be approximately 15.7 percent.

  • Operating cash flow is now expected to exceed $2.9 billion.

Basis of Presentation

  1. Operating gain is defined as operating revenue less benefit expense, selling expense, general and administrative expense, and cost of drugs. Operating gain is used to analyze profit or loss on a segment basis. Consolidated operating gain is a non-GAAP measure.
  2. Operating margin is defined as operating gain divided by operating revenue.
  3. Certain prior period amounts have been reclassified to conform to the current period presentation.
  4. The Company adopted FASB Staff Position No. FAS 115-2 and FAS 124-2 (the "FSP") on April 1, 2009. The FSP provides new guidance on the recognition and presentation of other-than-temporary impairments. Upon adoption, the Company recorded a favorable after-tax cumulative-effect adjustment of $88.9 million as of the beginning of the period to reclassify the non-credit component of previously recognized other-than-temporary impairments from retained earnings to accumulated other comprehensive income. The Company also reclassified most of its investments from long-term to current assets in connection with the adoption of this FSP.


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SOURCE WellPoint, Inc.
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