Cash FlowCash provided by operating activities was $264 million for the nine months ended September 30, 2012, compared with $155 million for the nine months ended September 30, 2011. Higher medical claims and benefits payable at our Texas health plan was the primary reason for the increase, followed by an increase in deferred revenue. The increases in medical claims and benefits payable and deferred revenue were offset by the decline in year to date net income. At September 30, 2012, the Company had cash and investments of $1.1 billion, and the parent company had cash and investments of $41 million.
|Reconciliation of Non-GAAP (1) to GAAP Financial Measures EBITDA (2)|
|Three Months Ended September 30,||Nine Months Ended September 30,|
|Net income (loss)||$||3,364||$||18,950||$||(15,853||)||$||53,778|
|Depreciation and amortization reported in the consolidated statements of cash flows||20,279||17,812||58,289||52,414|
|Income tax (benefit) expense||(492||)||10,236||(15,228||)||30,832|