HUMANA INC. (NYSE:HUM) Files An 8-K Other EventsItem 8.01Other Events
During the three months ended March 31, 2017, we realigned certain of our businesses among our reportable segments to correspond with internal management reporting changes and our previously announced planned exit from the Individual Commercial medical business on January 1, 2018. Additionally, we renamed our Group segment to the Group and Specialty segment, and began presenting the Individual Commercial business results as a separate segment rather than as part of the Retail segment. Specialty health insurance benefits, including dental, vision, other supplemental health, and financial protection products, marketed to individuals are now included in the Group and Specialty segment. Specialty health insurance benefits marketed to employer groups continue to be included in the Group and Specialty segment. As a result of this realignment, our reportable segments now include Retail, Group and Specialty, Healthcare Services, and Individual Commercial. Prior period segment financial information has been recast to conform to the 2017 presentation.
We began to report under our new structure effective with the filing of our Quarterly Report on Form 10-Q for the three months ended March31, 2017. This Current Report on Form 8-K (this “Form 8-K”) updates and supersedes the information in Items 1, 6, 7 and 8 of our Annual Report on Form 10-K for the year ended December31, 2016 (the “2016 Form10-K”) to reflect retrospective application of the new segments and reclassified historical results to conform to the new presentation. These adjustments had no impact on net income, cash flows or equity. Except as specifically provided, the information in this Form 8-K does not reflect any event or development occurring after February17, 2016, the date we filed the 2016 Form 10-K. For a discussion of events and developments subsequent to the filing of the 2016 Form 10-K, please refer to our Securities and Exchange Commission (“SEC”) filings since that date. In our Quarterly Reports on Form 10-Q for the quarterly periods ended March31, 2017, June30, 2017 and September 30, 2017, we adjusted the unaudited condensed consolidated financial statements for the three months ended March31, 2016 and for the three and six months ended June30, 2016 to reflect the retrospective application of our new segments. Accordingly, we are filing this Form 8-K so that our annual financial statement information for years prior to January1, 2017 incorporated by reference in any document that we have filed or may file from time to time with the SEC would reflect our reclassification of certain businesses.
Item 8.01Financial Statements and Exhibits
(d) Exhibits:
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Exhibit No. |
Description |
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Consent of Independent Registered Public Accounting Firm |
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99.1 |
Item 1. Business with Retrospective Application of Segments |
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99.2 |
Item 6. Selected Financial Data with Retrospective Application of Segments |
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99.3 |
Item 7. Management’s Discussion and Analysis of Financial Condition andResults of Operations with Retrospective Application of Segments |
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99.4 |
Item 8. Financial Statements and Supplementary Data with Retrospective Application of Segments |
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Attached as Exhibit 101 to this report are the following documents formatted in XBRL (Extensible Business Reporting Language): (i)the Consolidated Balance Sheets at December 31, 2016 and 2015; (ii)the Consolidated Statements of Income for theyears ended December 31, 2016, 2015 and 2014; (iii)the Consolidated Statements of Comprehensive Income for the years ended December 31, 2016, 2015 and 2014; (iv) the Consolidated Statements of Stockholders’ Equity as of December 31, 2016, 2015 and 2014; (v)the Consolidated Statements of Cash Flows for the years ended December 31, 2016, 2015 and 2014; and (vi)Notes to Consolidated Financial Statements. |
HUMANA INC ExhibitEX-23 2 hum-20161231x10x8kxex23.htm EXHIBIT 23 Exhibit Exhibit 23CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM We hereby consent to the incorporation by reference in the Registration Statement on Form S‑8 (No. No. 33-49305,…To view the full exhibit click here
About HUMANA INC. (NYSE:HUM)
Humana Inc. is a health and well-being company. The Company’s segments include Retail, Group, Healthcare Services and Other Businesses. The Retail segment consists of Medicare benefits, marketed to individuals or directly via group accounts, as well as individual commercial fully-insured medical and specialty health insurance benefits, including dental, vision, and other supplemental health and financial protection products. The Group segment consists of employer group commercial fully-insured medical and specialty health insurance benefits, including dental, vision, and other supplemental health and voluntary insurance benefits, as well as administrative services only products. The Healthcare Services segment includes services, such as pharmacy solutions, provider services, home-based services and clinical programs, as well as services and capabilities to advance population health. The Other Businesses segment includes its closed-block long-term care insurance policies.