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Quarterly Information
 12 Months Ended
Dec. 31, 2013
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Information
Quarterly Information (Unaudited)
The following interim financial information presents the 2013 and 2012 results of operations on a quarterly basis:
2013
 
March 31 
 
June 30 
 
September 30 
 
December 31 
 
 
(Dollars in millions, except per share data)
 
Total revenues
$
2,797.0

(1)
$
2,738.4

 
$
2,775.0

(3)
$
2,743.2

 
Health plan services costs
2,268.7

 
2,191.9

 
2,196.6

 
2,229.3

 
Government contracts costs
125.5

 
127.4

 
125.3

 
124.7

 
Income from continuing operations before income taxes
81.3

 
52.0

(2)
108.6

 
28.0

 
(Loss) income on discontinued operation, net of tax
—

 
—

 
—

 
—

 
Net income
50.1

(1)
33.5

 
66.8

(3)
19.8

 
Basic earnings per share from continuing operations
$
0.63

 
$
0.42

 
$
0.84

 
$
0.25

 
Diluted earnings per share from continuing operations (4)
$
0.62

 
$
0.42

 
$
0.83

 
$
0.25

 
Basic (loss) earnings per share on discontinued operation
$
—

 
$
—

 
$
—

 
$
—

 
Diluted (loss) earnings per share on discontinued operation
$
—

 
$
—

 
$
—

 
$
—

 
Basic earnings per share
$
0.63

 
$
0.42

 
$
0.84

 
$
0.25

 
Diluted earnings per share (4)
$
0.62

 
$
0.42

 
$
0.83

 
$
0.25

 
 
__________
(1) Includes $42.2 million of Medicaid premium revenue as a result of Medicaid/Medi-Cal retroactive rate adjustments related to 2011 and 2012.
(2)
Includes a $12.9 million in pretax costs related to continuing efforts to address scale issues.
(3) Includes $32.1 million of Medicaid premium revenue as a result of Medicaid/Medi-Cal retroactive rate adjustments for periods prior to 2013.
(4) The sum of the quarterly amounts may not equal the year-to-date amounts due to rounding.

2012
 
March 31 
 
June 30 
 
September 30 
 
December 31 
 
 
(Dollars in millions, except per share data)
 
Total revenues
$
2,830.4

 
$
2,841.3

 
$
2,779.6

 
$
2,837.8

(5)
Health plan services costs
2,343.7

 
2,358.5

 
2,281.4

 
2,332.8

 
Government contracts costs
162.3

 
153.4

 
151.8

 
137.5

 
(Loss) income from continuing operations before income taxes
(13.6
)
 
7.4

 
29.4

 
8.4

 
(Loss) income on discontinued operation, net of tax
(18.5
)
 
119.4

 
(2.5
)
 
(2.2
)
 
Net (loss) income
(26.6
)
(1)
124.6

(2)
18.0

(3)
6.0

(4) (5)
Basic (loss) earnings per share from continuing operations
$
(0.10
)
 
$
0.06

 
$
0.25

 
$
0.10

 
Diluted (loss) earnings per share from continuing operations (6)
$
(0.10
)
 
$
0.06

 
$
0.25

 
$
0.10

 
Basic (loss) earnings per share on discontinued operation (6)
$
(0.22
)
 
$
1.44

 
$
(0.03
)
 
$
(0.03
)
 
Diluted (loss) earnings per share on discontinued operation (6)
$
(0.22
)
 
$
1.42

 
$
(0.03
)
 
$
(0.03
)
 
Basic (loss) earnings per share (6)
$
(0.32
)
 
$
1.50

 
$
0.22

 
$
0.07

 
Diluted (loss) earnings per share (6)
$
(0.32
)
 
$
1.48

 
$
0.22

 
$
0.07

 
 
__________
(1)
Includes $25.0 million of adverse development related to prior periods recorded as part of health care costs, a $9.5 million expense related to our G&A cost reduction efforts and an unfavorable $0.7 million in pretax litigation reserve adjustment. Also includes a $6.5 million insurance reimbursement related to a prior legal settlement.
(2)
Includes $119.4 million gain on sale of discontinued operation related to the sale of our Medicare PDP business to CVS Caremark. Also includes $7.9 million of adverse development related to prior years recorded as part of health care costs, and a $10.8 million expense related to our G&A cost reduction efforts.
(3)
Includes a $2.4 million unfavorable adjustment to the gain on sale of discontinued operation and a $7.2 million expense related to our G&A cost reduction efforts.
(4)
Includes a $2.2 million unfavorable adjustment to the gain on sale of discontinued operation, an $8.2 million expense related to our G&A cost reduction efforts, a $5.0 million expense related to the early termination of a medical management contract and $7.1 million of litigation-related expenses.
(5)
Includes $31.5 million of premium revenue as a result of Medicaid/Medi-Cal retroactive rate adjustment related to the third quarter of 2012 and prior periods.
(6)
The sum of the quarterly amounts may not equal the year-to-date amounts due to rounding.