COVENTRY HEALTH CARE INC (CVH) [Rocket]

In millions, except per share items	Dec-31-12	Dec-31-11	Dec-31-10	Jun-30-10	Dec-31-09	Dec-31-08	Dec-31-07	Dec-31-06
	10-K	10-K	10-K	8-K	10-K	10-K	10-K	10-K
Revenues:
Workers' Compensation	757.8	783.8	755.1
Other	13,355.6	11,402.9	10,832.9
Total revenues	14,113.4	12,186.7	11,587.9		13,903.5	11,734.2	9,694.2	7,733.8
Revenue growth	15.8%	5.2%	-16.7%		18.5%	21.0%	25.3%	17.0%
Loss and loss adjustment expenses	10,853.8	9,041.4	8,265.9		10,859.4	8,868.6
Other operating expenses	2,375.6	2,188.1	2,555.0		2,454.7	2,197.4	8,648.7	6,785.0
EBITDA	912.6	1,005.0	830.0		653.8	735.8	1,043.9	954.3
EBITDA margin	6.5%	8.2%	7.2%		4.7%	6.3%	10.8%	12.3%
Depreciation	152.9	136.9	140.7		151.8	150.2	142.6	113.3
EBIT	759.7	868.1	689.3		502.0	585.5	901.3	841.0
EBIT margin	5.4%	7.1%	5.9%		3.6%	5.0%	9.3%	10.9%
Interest expense	99.5	99.1	80.4		84.9	96.4	82.2	52.4
Interest expense	99.5	99.1	80.4		84.9	96.4	82.2	52.4
Other income (expense), net	124.3	89.0	77.7		87.5	82.7	144.1	107.8
Pre-tax income	784.5	858.1	686.5		504.6	571.9	963.2	896.3
Income taxes	297.5	315.0	247.9		189.2	209.9	357.8	336.3
Tax rate	37.9%	36.7%	36.1%		37.5%	36.7%	37.1%	37.5%
Earnings from continuing ops	481.5	535.1	432.0		315.3	362.0	605.4	560.0
Earnings from discontinued ops					-73.0	19.9	20.7
Net income	481.5	535.1	432.0		242.3	381.9	626.1	560.0
Net margin	3.4%	4.4%	3.7%		1.7%	3.3%	6.5%	7.2%

Basic EPS	$3.54	$3.70	$2.96		$2.15	$2.43	$3.91	$3.53
Diluted EPS	$3.52	$3.67	$2.94		$2.14	$2.41	$3.85	$3.47

Shares outstanding (basic)	136.0	144.8	146.2		146.7	148.9	154.9	158.6
Shares outstanding (diluted)	136.8	145.9	146.8		147.4	150.2	157.4	161.4

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.