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General (Tables)
9 Months Ended
Sep. 30, 2011
General 
Schedule of customers generating in excess of ten percent of net revenues for respective segment

 

Segment
  Term Date   2010   2011  

Commercial

                 
 

Customer A

 

December 31, 2012

 
$

189,949
 
$

131,633
 
 

Customer B

  June 30, 2014     54,822     50,089  
 

Customer C

  June 30, 2012 to November 30, 2013(1)     40,303 *   82,695  

Public Sector

                 
 

Customer D

 

June 30, 2012(2)

   
113,540
   
135,597
 


Radiology Benefits Management


 

 

 

 

 

 

 
 

WellPoint, Inc. 

 

December 31, 2010(3)

   
119,155
   
 
 

Customer E

  November 30, 2012 to April 30, 2013(1)     84,435     100,575  
 

Customer F

  June 30, 2011 to November 30, 2011(1)(4)     50,982     34,271  
 

Customer G

  June 30, 2014     40,203     40,928  
 

Customer H

  March 31, 2013     4,057 *   25,708  


Specialty Pharmaceutical Management


 

 

 

 

 

 

 
 

Customer I

 

November 30, 2011 to March 31, 2012(1)

   
65,421
   
64,731
 
 

Customer J

  September 1, 2011 to April 29, 2012(1)     43,246     41,704  
 

Customer E

  February 1, 2012 to April 30, 2013(1)     26,937     19,499 *


Medicaid Administration


 

 

 

 

 

 

 
 

Customer K

 

December 4, 2011(4)

   
23,531
   
22,193
 
 

Customer L

  September 30, 2013(5)     6,647 *   61,543  
 

Customer M

  September 30, 2011 to June 30, 2017(1)     17,905     18,635  
 

Customer N

  August 31, 2011 to June 30, 2013(1)     16,357     13,689 *
 

Customer O

  June 30, 2013 to September 30, 2014(1)     12,097     17,221  

*
Revenue amount did not exceed ten percent of net revenues for the respective segment for the period presented. Amount is shown for comparative purposes only.

(1)
The customer has more than one contract. The individual contracts are scheduled to terminate at various points during the time period indicated above.

(2)
Contract has options for the customer to extend the term for three additional one-year periods.

(3)
The contract has terminated.
(4)
The customer has informed the Company that this contract will not be renewed.

(5)
This customer represents a subcontract with a Public Sector customer and is eliminated in consolidation.
Schedule of fair value of financial assets and liabilities

 
  Fair Value Measurements  
 
  Level 1   Level 2   Level 3   Total  

Cash and Cash Equivalents(1)

  $   $ 68,726   $   $ 68,726  

Restricted Cash(2)

        72,698         72,698  

Investments:

                         

U.S. Government and agency securities

    2,179             2,179  

Obligations of government-sponsored enterprises(3)

        10,138         10,138  

Corporate debt securities

        268,769         268,769  

Certificates of deposit

        750         750  

Taxable municipal bonds

        2,668         2,668  
                   
 

December 31, 2010

  $ 2,179   $ 423,749   $   $ 425,928  
                   

 

 
  Level 1   Level 2   Level 3   Total  

Cash and Cash Equivalents(4)

  $   $ 7,732   $   $ 7,732  

Restricted Cash(5)

        32,524         32,524  

Investments:

                         

U.S. Government and agency securities

    698             698  

Obligations of government-sponsored enterprises(6)

        11,161         11,161  

Corporate debt securities

        242,090         242,090  

Certificates of deposit

        200         200  
                   
 

September 30, 2011

  $ 698   $ 293,707   $   $ 294,405  
                   

(1)
Excludes $268.5 million of cash held in bank accounts by the Company.

(2)
Excludes $44.0 million of restricted cash held in bank accounts by the Company.

(3)
Includes investments in notes issued by the Federal Home Loan Mortgage Corporation and the Federal Home Loan Bank.

(4)
Excludes $134.7 million of cash held in bank accounts by the Company.

(5)
Excludes $123.1 million of restricted cash held in bank accounts by the Company.
(6)
Includes investments in notes issued by the Federal Home Loan Bank.
Summary of short-term and long-term "available-for-sale" investments

 
  December 31, 2010  
 
  Amortized
Cost
  Gross
Unrealized
Gains
  Gross
Unrealized
Losses
  Estimated
Fair Value
 

U.S. Government and agency securities

  $ 2,178   $ 1   $   $ 2,179  

Obligations of government-sponsored enterprises(1)

    10,142     7     (11 )   10,138  

Corporate debt securities

    268,739     245     (215 )   268,769  

Certificates of deposit

    750             750  

Taxable municipal bonds

    2,680         (12 )   2,668  
                   

Total investments at December 31, 2010

  $ 284,489   $ 253   $ (238 ) $ 284,504  
                   

 

 
  September 30, 2011  
 
  Amortized
Cost
  Gross
Unrealized
Gains
  Gross
Unrealized
Losses
  Estimated
Fair Value
 

U.S. Government and agency securities

  $ 698   $   $   $ 698  

Obligations of government-sponsored enterprises(2)

    11,160     4     (3 )   11,161  

Corporate debt securities

    242,569     53     (532 )   242,090  

Certificates of deposit

    200             200  
                   

Total investments at September 30, 2011

  $ 254,627   $ 57   $ (535 ) $ 254,149  
                   

(1)
Includes investments in notes issued by the Federal Home Loan Mortgage Corporation and the Federal Home Loan Bank.

(2)
Includes investments in notes issued by the Federal Home Loan Bank.
Summary of maturity dates of investments

The maturity dates of the Company's investments as of September 30, 2011 are summarized below (in thousands):

 
  Amortized
Cost
  Estimated
Fair Value
 

2011

  $ 92,150   $ 92,062  

2012

    159,009     158,644  

2013

    3,468     3,443  
           

Total investments at September 30, 2011

  $ 254,627   $ 254,149  
           
Schedule of stock option activity

 
  Options   Weighted
Average
Exercise
Price
 

Outstanding, beginning of period

    3,775,586   $ 39.27  

Granted

    1,120,716     49.25  

Forfeited

    (29,306 )   42.98  

Exercised

    (881,362 )   38.35  
           

Outstanding, end of period

    3,985,634     42.26  
           

Vested and expected to vest, end of period

    3,891,114     42.16  
           

Exercisable, end of period

    1,835,319   $ 39.84  
           
Schedule of nonvested restricted stock award activity

 
  Shares   Weighted
Average
Grant
Fair Value
 

Outstanding, beginning of period

    22,309   $ 39.23  

Awarded

    18,748     52.11  

Vested

    (22,309 )   39.23  

Forfeited

         
           

Outstanding, ending of period

    18,748   $ 52.11  
           
Schedule of nonvested restricted stock units

 
  Shares   Weighted
Average
Grant
Fair Value
 

Outstanding, beginning of period

    190,488   $ 38.43  

Awarded

    112,543     49.10  

Vested

    (90,853 )   37.50  

Forfeited

    (2,856 )   45.12  
           

Outstanding, ending of period

    209,322   $ 44.49