felanders/preprocessed huggingface dataset:
We lease office space for our principal executive offices in Woodland Hills, California and our offices in Rancho Cordova, California. Our executive offices, comprising approximately 110,000 square feet, are occupied under a lease expiring December 31, 2004. A significant portion of our California HMO operations are also housed in Woodland Hills, in a separate, 325,000 square foot leased facility. This new, two-building facility was occupied at the end of 2001, under a lease that expires December 31, 2011. Combined rent for our Woodland Hills facilities was approximately $12.8 million in 2002.
We also lease an aggregate of approximately 440,000 square feet of office space in Rancho Cordova, California for certain Health Plan Services and Government Contract operations. Our aggregate rent obligations under these leases were approximately $5.4 million in 2002. These leases expire at various dates. We also lease a total of approximately 240,000 square feet of office space in Irvine, California and San Rafael, California for certain specialty services operations.
We also own facilities comprising, in the aggregate, approximately 770,000 square feet of space. These facilities include headquarters for our health plan subsidiaries in Arizona and Connecticut, as well as a data processing facility in Rancho Cordova, California.
We believe that our ownership and rental costs are consistent with those associated with similar space in the applicable local areas. Our properties are well maintained, adequately meet our needs and are being utilized for their intended purposes.
The information required by this Item 7 is set forth in the Company's 2002 Annual Report to Stockholders on pages 27 through 47, and is incorporated herein by reference and made a part hereof.
The Company currently leases its corporate offices in Southfield, Michigan from 26600 Development Associates Limited Partnership. In 1996, the Company paid rent in the amount of approximately $1,060,000. The term of the lease for the offices in Southfield expires on September 30, 2004. The Company, through its subsidiaries, is also a party to various leases for locations in which such subsidiaries have offices. The Company does not consider any of these leases to be material.
The information required by this item is incorporated by reference to page 28 of the Company's 1997 Annual Report to Shareholders.
The information required by this item is incorporated by reference to pages 30-34 of the Company's 1997 Annual Report to Shareholders.
We lease office space in Syracuse, New York that serves as our headquarters. We also lease office space in New York City that serves as our sales office. We believe that our leased properties are adequate for our current business operations.
(1) Includes amortization of deferred acquisition costs (“DAC”) and value of business required (“VOBA”) and underwriting, general and administrative expenses.
Total revenues decreased by $8,461, or 11%, to $69,569 for the year ended December 31, 2005 from $78,030 for the year ended December 31, 2004. This decrease was primarily driven by lower net earned premiums and other considerations of $5,995 due to a decrease in our group dental business and lower group disability business written though our alternate distribution sources as well as the continued decline in our domestic credit insurance products. Also contributing to the decrease was lower net investment income of $982 due to lower invested assets, lower net realized gains on investments by $673 and a decrease of $536 in amortization of deferred gain on disposal of businesses, which is consistent with the anticipated run-off of the businesses ceded to The Hartford in 2001 and John Hancock in 2000.
Total benefits, losses and expenses decreased by $9,213, or 15%, to $52,208 for the year ended December 31, 2005 from $61,421 for the year ended December 31, 2004. This decrease of $8,161 was primarily driven by lower policyholder benefits in our group disability business written through alternate distribution sources. Also contributing to the decrease were lower selling, underwriting and general expenses of $1,052 due to a decrease in commission expense and one-time interest and severance costs that occurred in the prior period in our credit life business.
World Minerals' headquarters is located in leased premises of approximately 13,000 square feet in Santa Barbara, California. Celite, Harborlite and certain departments of World Minerals share approximately 16,800 square feet of leased premises in Lompoc, California.
Capitol Transamerica leases approximately 50,000 square feet of office space in Madison, Wisconsin for its and Platte River's headquarters.
The information required by this Item 6 is incorporated by reference from page 28 of Alleghany's Annual Report to Stockholders for the year 2003, filed as Exhibit 13 hereto.
We and Atlantic States share headquarters with Donegal Mutual in a building owned by Donegal Mutual. Donegal Mutual charges us for an appropriate portion of the building expenses under an inter-company allocation agreement that is consistent with the terms of the pooling agreement. The headquarters of Donegal Mutual has approximately 172,600 square feet of office space. Southern owns a facility of approximately 10,000 square feet in Glen Allen, Virginia. Le Mars owns a facility of approximately 25,500 square feet in Le Mars,
Iowa and Peninsula owns a facility of approximately 14,600 square feet in Salisbury, Maryland.
The response to this Item is incorporated by reference to pages 19 through 36 of our Annual Report to Stockholders for the year ended December 31, 2005, which is included as Exhibit (13) to this Form 10-K Report.
Pursuant to an arrangement between NMIC and certain of its subsidiaries, during 2000 the Company leased on average approximately 758,000 square feet of office space primarily in the four building home office complex in Columbus, Ohio. The Company believes that its present facilities are adequate for the anticipated needs of the Company.
square foot airplane hangar located at the Greater Peoria Regional Airport.
Throughout this report (including portions incorporated by reference herein), we present our operations in the way we believe will be most meaningful, useful and transparent to anyone using this financial information to evaluate our performance. In addition to the GAAP presentation of net income and certain statutory reporting information, we show certain non-GAAP financial measures that are valuable in managing our business, including gross revenues, gross written premiums, net written premiums and combined ratios. A detailed discussion of these measures can be found on page 2 of the 2005 Financial Report to Shareholders, attached as Exhibit 13 and incorporated by reference herein.
Refer to the consolidated financial statements and supplementary data included on pages 19 through 46 of the 2005 Financial Report to Shareholders, attached as Exhibit 13 and incorporated by reference herein. (See also Index to Financial Statements and Schedules attached on page 32.)
Registrant receives approximately $12,450 of cash each month from payments of principal and interest on Real Estate Contracts Receivable. Registrant has very little liquidity because most of these payments are used to pay management fees and other operating expenses.
Management fees increased $6,750 due to an increase in the montly fee from $3,250 to $4,000 effective January 1, 2000.
MAIN OFFICES. The main office of the Company, Liberty Life and Cosmos is located on a 30-acre tract in Greenville, SC and consists of three buildings totaling approximately 360,000 square feet plus parking. The main office facilities are owned by the Company and Liberty Life, a wholly owned subsidiary of the Company. The Company also owns the main office of Brookings International Life, (approximately 6,000 square feet plus parking), in Brookings, SD and the home office of American Funeral (approximately 40,000 square feet plus parking), in Amory, MS. Liberty Life leases branch office space in various cities. Leases are normally made for terms of one to ten years.
Park Avenue Associates, Inc., a wholly owned subsidiary of Liberty Life, has a 60% interest as General Partner of Tanyard Creek Partnership. The partnership owns a 49,500 square foot office building. Commerce Center of Greenville, Inc., a wholly owned subsidiary of Liberty Properties Group, Inc., has a 50% interest as Limited Partner of Park Place Partnership. This partnership owns a 50, 251 square foot office building.
This item has been eliminated in the Company’s Consolidated Financial Statements.
All of the Company’s insurance subsidiaries are 100% owned and consolidated.
MBIA Corp. owns the 265,000 square foot office building on approximately 15.5 acres of property in Armonk, New York, in which the Company and MBIA Corp. have their headquarters. The Company also has rental space in New York, New York, San Francisco, California, Paris, France, Madrid, Spain, Sydney, Australia and London, England. The Company believes that these facilities are adequate and suitable for its current needs.
The information under the heading "Selected Financial and Statistical Data" as set forth on pages 34-35 of the Company's 2000 Annual Report to Shareholders is incorporated by reference.
The information under the heading "Management's Discussion and Analysis of Financial Condition and Results of Operations" as set forth on pages 36-42 of the Company's 2000 Annual Report to Shareholders is incorporated by reference.
The consolidated financial statements of the Company, the Report of Independent Accountants thereon by PricewaterhouseCoopers LLP and the unaudited "Quarterly Financial Information" are set forth on pages 43-62 of the Company's 2000 Annual Report to Shareholders and are incorporated by reference.
On March 15, 2001 the Company's Board of Directors approved a 3 for 2 stock split by means of a stock dividend. The 3-for-2 stock split will be accomplished through a stock dividend which will be distributed on April 20, 2001 to shareholders of record as of April 2, 2001. The pro-forma per share amounts on a post-split basis for the years ended December 31, 2000, 1999 and 1998 would be as follows:
Financial position of the Company CAPITAL (fully subscribed 25 "/o paid up) Frs. 20,000,000. — RESERVE FUND ....... SPECIAL RESERVE FUND . FIRE, Hail, Accident, Liability, Burglary, Fidelity,
Surety and Marine Dep^. Premium Reserve . Frs. 31,143,398.49 Reserve for unsettled Claims .... „ 21,107,816.41 Reserve for extraordinary Losses . . . „ 7,500,000. —
LIFE Department Premium Reserve . Frs. 81,187,936.— Reserve for unsettled Claims . . . . „ 3,067,851. —
PROFIT AND LOSS ACCOUNT for the year ending 31®' December, 1918.
Fidelity, Surety and Marine Depä. Premiums for Retrocession, less cancellations Commissions, less Retrocession Claims paid Frs. 58,654,707.69 less Retrocession , 23,956,248.91 Premium Reserve less Retrocession . . . Reserve for unsettled Claims . . . . . . « . . • • • • Reserve for extraordinary Losses . . . .
Capital (10,000 shares of Frs,2000 each). . . ... 20,000,000 — Reserve Fund 2,000,000 — Special Reserve Fund . . . . . . . . 4,200,000 — Due to other Companies and Banks ; . ... . . 23,920,363 75 Life and other funds deposited by ceding Companies . . . ... . . . 25,488,759 11 Sundry Creditors 415,029 68 Reserves
Balance of Profit and Loss Account . . . .... 2,078,994 60 222,105,149 04
Board of Directors: J. R, Hanhart, Chairman. E. Welti, Deputy-Chairman. W. C. Escher. Ed. Leicht. 0. Stlinzi - Baumann. . C. Ahegg. R. Hegner-von Juvalta.
The information contained in "Selected Financial Data" on Page 16 of the Company's 1998 Annual Report is incorporated herein by reference.
The 1998 Financial Statements and the Company's Independent Auditors' Report on pages 26 through 36 of the Company's 1998 Annual Report are incorporated herein by reference, as is the unaudited information set forth in the Notes to the Financial Statements under the caption "Quarterly Results of Operations (Unaudited)" on page 36.
AH Life owns an office building in Farmington Hills, Michigan, which is used as its home office.
The report of independent auditors and the consolidated financial statements included on pages 37 through 62 of the annual shareholder report for the year ended December 31, 1996, an excerpt of which appears in Exhibit 13, are incorporated by reference in response to this item.
The Company’s principal executive office is located in Irvine, California in approximately 13,000 square feet of leased space. The lease expires in January 2020. The Company leases approximately 89 branch offices in 43 states, which range in size from 200 square feet up to 39,000 square feet. The lease terms for the branch offices range from monthly to ten years and expire through 2020. The Company believes that its facilities are adequate for its current needs and that suitable additional space will be available as required.
The selected consolidated financial data of the Company appears in a separate section of this Annual Report on Form 10-K immediately preceding the Management Discussion and Analysis of Financial Condition and Results of Operations section and is incorporated herein by this reference.
Selected financial data for the past five years appears on page 25 in the Annual Report to the Stockholders for the year ended December 31, 1999, and is incorporated herein by reference.
CT&T and CTI lease about 278,000 square feet for their headquarters operations in the Chicago Title and Trust Center, a 50-story office complex at 171 North Clark Street in Chicago, Illinois.
World Minerals' headquarters is located in leased premises of approximately 17,300 square feet in Lompoc, California, which it shares with Celite. Harborlite's headquarters is located at its Vicksburg, Michigan plant.
A description of the major plants and properties owned and operated by Celite and Harborlite is set forth below. All of the following properties are owned, with the exception of Plant # 1 at Quincy, Washington, the headquarters offices at Lompoc, California, the Rueil, France office and the plant at Wissembourg, France, which are leased.
The information required by this Item 6 is incorporated by reference from page 21 of Alleghany's Annual Report to Stockholders for the year 1993, dated March 15, 1994, filed as Exhibit 13 hereto.
The information required by this Item 8 is incorporated by reference from pages 24 through 45 of Alleghany's Annual Report to Stockholders for the year 1993, dated March 15, 1994, filed as Exhibit 13 hereto.
AFLAC owns an 18-story office building, which is the worldwide headquarters of the Parent Company and AFLAC, along with a six-story parking garage. These structures are located on approximately 14 acres of land in Columbus, Georgia. The Company also owns two additional buildings located on the same property. AFLAC also owns administrative office buildings located nearby. AFLAC New York occupies leased office space in Albany, New York.
The Broadcast Division owns land, buildings, transmission towers and other broadcast equipment in the cities where its six television stations are located. These properties will be sold in conjunction with the sale of the Broadcast Division during the first half of 1997.
MANAGEMENT'S DISCUSSION AND 13-5 to 28 - 36 ANALYSIS OF FINANCIAL CONDITION 13-24 AND RESULTS OF OPERATIONS
RGA Reinsurance also conducts business from approximately 1,800 square feet of office space located in Hong Kong and approximately 1,300 square feet of office space located in Tokyo, Japan. The rental expenses paid by RGA Reinsurance under the leases during 1998 were approximately $145,000 and $90,500 for Hong Kong and Tokyo, respectively. RGA Australia conducts business from approximately 5,649 square feet of office space located in Sydney, Australia and paid $55,000 during 1998 for lease expense. The Hong Kong and Tokyo leases expire in January 2001 and December 2000 respectively. The Sydney lease expires in October 2003.
RGA Reinsurance also conducts business from approximately 1,500 square feet of office space in Mexico City, Mexico. The rental expenses paid by RGA Reinsurance under the lease during 1998 were approximately $17,000. The lease expires in December 1999.
General American Argentina conducts business from approximately 6,800 square feet of office space in Buenos Aires, Argentina, pursuant to several leases. Rental expense paid for the office was approximately $108,000 during 1998. BHIF America and RGA Chile conduct business from approximately 4,900 square feet of office space in Santiago, Chile. The lease expense paid during 1998 was approximately $48,000. One of the Buenos Aires leases expires in July 1999 with the remaining leases expiring in December 2001. The Santiago lease expires in April 2000.
RGA Canada's operations are conducted from approximately 9,800 square feet of office space located in Montreal, Canada. The lease with respect to such space expires in 2010. Rental expenses paid by RGA Canada under the lease during 1998 were approximately $174,000. RGA Canada also sub-leases approximately 800 square feet of space in Montreal, Canada. The sub-lease expires in 2000. The rental expenses paid by RGA Canada under the sub-lease during 1998 were approximately $14,000. RGA Canada also leases approximately 5,900 square feet of space in Toronto, Canada. This lease expires in 2005. The rental expenses paid by RGA Canada under the Toronto lease during 1998 were approximately $126,500. RGA International conducts operations from approximately 9,800 square feet of office space located in Toronto, Canada. The lease with respect to such space expires in 2007. The rental expenses paid by RGA International under the lease during 1998 were approximately $57,000.
The information required by this item is found at pages 20-21 in the Annual Report for 1998 under the caption "Selected Consolidated Financial and Operating Data" which section is incorporated herein by reference.
Page of Annual Index Report ----- ------ Consolidated Balance Sheets 42 Consolidated Statements of Income 43 Consolidated Statements of Stockholders' Equity 44 - 45 Consolidated Statements of Cash Flows 46 Notes to Consolidated Financial Statements 47 - 69 Independent Auditors' Report 70
Ambac Assurance, Ambac Capital Funding, Ambac Financial Services and Ambac Capital Services maintains its principal executive offices at One State Street Plaza, New York, New York 10004, which consists of approximately 145,000 square feet of office space, under an agreement that expires on September 30, 2019. Ambac Assurance maintains other locations at Otemachi Financial Center 17th Floor, 5-4, Otemachi 1-chome, Chiyoda-ku, Tokyo 100-0004, Japan and at ABN AMRO Tower, L31, 88 Phillip Street, Sydney 2000 NSW, Australia. Both locations consist of approximately 1,000 square feet of office space.
Cadre Financial Services and Ambac Securities maintains its principal executive office at 905 Marconi Avenue, Ronkonkoma, New York 11779. Cadre Financial Services owns the office building. It consists of approximately 15,000 square feet of office space and storage.
Management’s Discussion and Analysis of Financial Condition and Results of Operations is set forth under the same caption on pages 25 through 40 of Ambac Financial Group’s 2002 Annual Report to Stockholders. Such information is incorporated herein by reference and should be read in conjunction with the Consolidated Financial Statements and the Notes thereto contained on pages 42 through 65 of such Annual Report.
The 2002 Consolidated Financial Statements, together with the Notes thereto and the Independent Auditors’ Report thereon, are set forth on pages 41 through 65 of Ambac Financial Group’s 2002 Annual Report to Stockholders. Such information is incorporated herein by reference.
The information required by this item is set forth under "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the Company's 1998 Annual Report to Stockholders and is incorporated herein by reference.
The financial statements required by this item are contained in the Company's 1998 Annual Report to Stockholders on the pages indicated below and are incorporated herein by reference.
Consolidated Statements of Operations for the Years Ended 29 December 31, 1996, 1997 and 1998
Consolidated Statements of Comprehensive Income for the Years 29 Ended December 31, 1996, 1997 and 1998
Consolidated Statements of Cash Flows for the 30-31 Years Ended December 31, 1996, 1997 and 1998
Consolidated Statements of Stockholders' Equity for the 32-33 Years Ended December 31, 1996, 1997 and 1998
CT&T and CTI lease about 278,000 square feet for their headquarters operations in the Chicago Title and Trust Center, a 49-story office complex at 171 North Clark Street in Chicago, Illinois.
Ticor Title's and Security Union's headquarters are in company-owned premises of about 180,000 square feet in Rosemead, California. CT&T and its subsidiaries own or lease buildings or office space in approximately 425 locations throughout the United States, primarily for CTI, Security Union and Ticor Title full-service and satellite branch office operations.
Underwriters leases about 27,000 square feet of office space for its headquarters operations in Woodland Hills, California. All of its five branch office locations are also in leased spaces, ranging in size from about 3,200 square feet to 6,200 square feet. CUIC leases about 9,400 square feet of office space.
A description of the major plants and properties owned and operated by Celite and Harborlite is set forth below. All of the following properties are owned, with the exception of Plant # 1 at Quincy, Washington, the headquarters offices at Lompoc, California, the Rueil, France and Santiago, Chile offices, and the plant at Wissembourg, France, which are leased.
Celite and Harborlite also lease warehouses, office space and other facilities in the United States and abroad. A joint venture between Celite and the Government of Iceland has mining rights to mine diatomaceous earth in sections of Lake Myvatn, Iceland.
Alleghany also owns one truck terminal property in Ohio which is being held for sale, and which has been leased from time to time on an interim basis.
The information required by this Item 8 is incorporated by reference from pages 22 through 41 of Alleghany's Annual Report to Stockholders for the year 1994, filed as Exhibit 13 hereto.
The Company leases 73,000 square feet for regional offices throughout Virginia and 22,000 square feet for office space in Maryland, North Carolina, West Virginia, Pennsylvania, Texas and South Carolina.
Refer to pages 22 and 23 of Trigon Healthcare Inc.'s Annual Report to Shareholders, which are incorporated herein by reference.
Refer to pages 24 through 30, "Management's Analysis of Operating Results", of Trigon Healthcare Inc.'s Annual Report to Shareholders, which are incorporated herein by reference.
The Registrant's home office and educational facilities are owned by the Registrant and located in Atlanta, Georgia. As of December 31, 2001, the Registrant leased approximately 585 office
locations under leases with remaining terms ranging from a few months to ten years. The remainder of its office locations are occupied under various short-term rental arrangements. As of December 31, 2001, the Registrant owned or leased approximately 1,500 automobiles which are used by the Registrant's field adjusters and certain of its management personnel in the United States. Additional vehicles are owned or leased by the Registrant's foreign subsidiaries for use by field and management personnel. See Note 4 of Notes to Consolidated Financial Statements included in the Registrant's 2001 Annual Report to Shareholders filed herewith as Exhibit 13.1, which notes are incorporated herein by reference.
The physical property of the Company consists of the home office building and grounds, owned in fee, at 200 Capital Avenue, Frankfort, Kentucky. Adjacent to the home office, the Company owns additional property on Second Street and on Shelby Street in Frankfort, Kentucky. One building is used for agency and company meetings; one building is a print shop used by Investors Heritage Printing, one building is used for supplies and additional storage; one building is leased to a commercial tenant and one building is a residential apartment building.
Selected financial data for the past five years appears on page 19 in the Annual Report to the Stockholders for the year ended December 31, 2004, and is incorporated herein by reference.
Management's Discussion and Analysis of Financial Condition and Results of Operations appears on pages 6-18 in the Annual Report to the Stockholders for the year ended December 31, 2004, and is incorporated herein by reference.
MMC and certain of its subsidiaries, including Marsh USA Inc. and Mercer Human Resource Consulting, Inc., as tenants in common, own a 69% condominium interest covering approximately 1,120,000 square feet in a 44-story building in midtown Manhattan in New York City, which serves as their worldwide headquarters. MMC has a fixed rate nonrecourse mortgage note agreement due in 2009 amounting to $200 million, bearing an interest rate of 9.8%, with the notes secured by MMC's interest in its worldwide headquarters. In the event the mortgage is foreclosed following a default, MMC would be entitled to remain in the space and would be obligated to pay rent sufficient to cover interest on the notes or at fair market value if greater. MMC leases an additional 240,000 square feet of space in its headquarters building. MMC and its subsidiaries lease an additional 680,000 square feet in various locations around New York City in support of its operations, including a lease covering approximately 420,000 rentable square feet in a building in Hoboken, New Jersey.
The principal executive offices of the Putnam subsidiaries comprise approximately 315,000 square feet of leased space located at One Post Office Square, Boston, Massachusetts in Boston's financial district. Putnam leases an additional approximately 890,000 square feet in various locations around the Boston area for investor services and other activities in support of its operations.
The information on pages 21 through 29 of the 2003 Annual Report is incorporated herein by reference.
The Consolidated Financial Statements and the Independent Auditors' Report thereto on pages 30 through 53 of the 2003 Annual Report and Selected Quarterly Financial Data (Unaudited) on page 54 of the 2003 Annual Report are incorporated herein by reference. A supplemental note to the Consolidated Financial Statements is included on the last page of this report.
Selected consolidated financial data for the Corporation and its subsidiaries is set forth in the following table:
Immediately following the sale, the Corporation had consolidated assets of $5,749,388 including cash of $1,626,128 and marketable equity securities of $1,998,470. Other assets included an investment in PMM ($1,051,217) lease receivables ($503,258) and property and equipment ($390,243). The Corporation's only significant liability was a mortgage note payable of $499,511 on an office building
As of December 31, 1995, the Corporation had consolidated assets of $5,103,923 including cash of $1,377,869 and marketable equity securities of $2,227,904 represented by Alanco common stock. Other assets included the investment in PMM which has been written down to a zero value; lease receivables of $471,272; investment in TRS of $137,946; goodwill and an option in TRS of $161,970; and net property and equipment of $410,935. The Corporation continues to have only the one significant liability in the form of a mortgage note payable by Vanguard of $428,835 on an office building.
During the first quarter of 1996, the Corporation sold all remaining shares of Alanco common stock resulting in a $1,019,020 profit to the Corporation.
Premium income in 1995 was $2,485,974 compared to 1994 premiums of $9,516,000 and $19,499,000 premiums in 1993. The decrease in premiums in 1995 was due primarily to the sale of Dixie Life. The composition of premium income in each of the three years ended December 31, 1995 was as follows:
Total benefits and expenses were $12,056,626 in 1995, $14,236,000 in 1994 and $22,700,000 in 1993.
Nobel owns a 39,000 square foot building at 8001 LBJ Freeway, Dallas, Texas, which is occupied by the corporate and commercial lines insurance operations. Approximately 10,000 square feet of this building is leased to unrelated tenants. Additionally, Nobel owns a 24,000 square foot building at 6923 North Trenholm Road, Columbia South Carolina, of which approximately 22,300 square feet is occupied by the personal lines insurance operation. Approximately 1,700 square feet of the building is leased to unrelated tenants.
Selected Consolidated Financial Data is listed on page 14 of the Annual Report and is incorporated herein by reference thereto in response to this item. The selected financial data of the Company should be read in conjunction with the Consolidated Financial Statements of the Company and related Notes thereto contained in the Annual Report and incorporated herein by reference thereto.
The Consolidated Financial Statements of the Company are contained on pages 28 through 48 of the Annual Report and are incorporated herein by reference thereto in response to this item. Reference is made to Item 14(a) of this Report for the Schedules to the Consolidated Financial Statements.
The Company owns certain of its offices in Pueblo, Colorado and leases office space for its principal executive offices in Woodland Hills and its offices in Rancho Cordova, California.
The Woodland Hills facility, with approximately 410,000 square feet, is leased pursuant to two leases, the earliest of which expires in December 2001 with respect to 300,000 square feet. The aggregate rent for the two leases for 1998 totaled approximately $11.7 million. The Company's principal executive offices are located in the Woodland Hills facility, and such facility contains much of the Company's California HMO operations.
The Company and its subsidiaries also lease an aggregate of approximately 515,000 square feet of office space in Rancho Cordova, California. The Company's aggregate rent obligations under these leases were approximately $7.2 million in 1998. These leases expire at various dates through July 2002. The Rancho Cordova facilities serve as a regional data processing center.
In addition to the Company's office space in Pueblo, Woodland Hills and Rancho Cordova, the Company and its subsidiaries lease approximately 165 sites in 26 states, comprising roughly 1.7 million square feet of space.
The Company owns in total approximately 1.6 million square feet of space. The Company owns approximately 375,000 aggregate square feet of space for health care centers in California and Arizona and approximately 250,000 square feet of space for two hospitals in Southern California. The Company also owns approximately one dozen office buildings located in Arizona, California, Colorado and Connecticut, which collectively encompass approximately 960,000 square feet of space.
The Company is currently considering the sale of certain care centers and unimproved real estate owned by the Company, and the sale and leaseback of certain of its occupied facilities in Arizona, California and Connecticut.
The information required by this Item is set forth in the Company's Annual Report to Stockholders on page 1, and is incorporated herein by reference and made a part hereof.
The information required by this Item is set forth in the Company's Annual Report to Stockholders on pages 17 through 27, and is incorporated herein by reference and made a part hereof.
The Company's headquarters are located at 440 Lincoln Street, Worcester, Massachusetts, and consist primarily of approximately 758,000 rentable square feet of office and conference space owned in fee and include the headquarters of Hanover.
The Company believes that its facilities are adequate for its present needs in all material respects.
Reference is made to the "Five Year Summary of Selected Financial Highlights" on page 21 of the 1999 Annual Report to Shareholders, which is incorporated herein by reference.
In Japan, AFLAC leases office space in Tokyo, along with regional sales offices located throughout the country, and owns a training and computer facility in Tokyo. A new administrative office building is under construction in Tokyo. For further information concerning the new building in Japan, see Exhibit 13, pages 13-13, (discussion concerning cash flow) and 13-29 (note 5, of Notes to the Consolidated Financial Statements), which are incorporated herein by reference. Other foreign affiliates of the Company also have leased office space.
MANAGEMENT'S DISCUSSION AND 13-5 to 24 - 29 ANALYSIS OF FINANCIAL CONDITION 13-13 AND RESULTS OF OPERATIONS
FINANCIAL STATEMENTS AND 13-14 to 32 - 47 SUPPLEMENTARY DATA 13-40
Continental's subsidiaries lease office space in various cities throughout the United States and in other countries. The following table sets forth certain information with respect to the principal office buildings owned or leased by Continental's subsidiaries:
(1) Represents the amount of space owned and occupied by or leased to Continental's subsidiaries. To the extent not occupied by Continental's subsidiaries, such space is or is intended to be subleased to third parties.
Material appearing under the caption "Selected Consolidated Financial Data" included in the Annual Report is incorporated herein by reference.
Material appearing under the caption "Management's Discussion and Analysis of Financial Condition and Results of Operations" included in the Annual Report is incorporated herein by reference.
in other countries. For additional information concerning leases and property, see Notes 2(H) and 15 to CIGNA's 1998 Financial Statements included in its Annual Report. This paragraph does not include information on investment properties.
The five-year financial information under the caption "Highlights" on page 1 of CIGNA's Annual Report is incorporated by reference.
The information on pages 10 through 24 of CIGNA's Annual Report is incorporated by reference.
As of December 31, 1997, the Company leased its various office facilities. The Company's principal leasing arrangements can be summarized as follows: The Company's principal executive offices occupy approximately 30,300 square feet in a single facility in downtown Boston under a lease which expires in 2002. Keyport leases approximately 76,000 square feet in a single facility in downtown Boston under a lease which expires in 2002, and approximately 19,800 square feet in Lincoln, Rhode Island under a lease which expires in 2007. Colonial leases approximately 149,000 square feet of office space in a single facility in downtown Boston under a lease which expires in 2006 and approximately 21,700 square feet in Aurora, Colorado under a lease which expires in 2000. Stein Roe leases 141,300 square feet in downtown Chicago under to a lease which expires in 2009. Independent leases approximately 29,500 square feet in Purchase, New York under a lease which expires in 2007.
Financial Statements and Supplementary Data The Company's Consolidated Financial Statements which appear beginning on page 35 in the 1997 Annual Report, and the report thereon of Ernst & Young LLP as of and for the year ended December 31, 1997, which appears on page 55 in the 1997 Annual Report, are incorporated herein by reference.
The information contained in Selected Financial Data on page 43 of the Annual Report is incorporated herein by reference.
The Company operates from offices in Bermuda, the United Kingdom, the United States and Ireland. In Bermuda, the Company leases its principal offices from a joint venture company in which the Company has a 40 percent interest and there is an agreement with the joint venture partner which ensures the Company's ability to occupy a portion of the building until 2011. The Company is currently building new corporate headquarters in Bermuda that will house its Bermuda-based operations. It is expected that this facility will be available by the end of 2000.
Management's Discussion and Analysis of Financial Condition and --------------------------------------------------------------- Results of Operations ---------------------
The Company's consolidated balance sheets as of December 31, 1996 and 1995, and the consolidated statements of income, shareholders' equity and cash flows for each of the three years ended December 31, 1996, 1995 and 1994 and the notes to the financial statements, together with the independent auditors' report thereon appear in the Company's Annual Report and are incorporated herein by reference.
Management's Discussion and Analysis of Financial Condition and Results 	of Operations. Incorporated by reference to pages 14 and 15 of the 	of the Registrant's 1994 Annual Report to Shareholders.
"Selected Consolidated Financial Data" on page 6 of DHC's 1996 Annual Report to Stockholders (included as an exhibit hereto) is incorporated herein by reference.
As of December 31, 2000, the Company leased approximately 1.7 million aggregate square feet of space for its principal administrative offices in the greater Minneapolis/St. Paul, Minnesota area and in Hartford, Connecticut. Excluding these areas, as of December 31, 2000, the Company leased approximately 5.6 million aggregate square feet in the United States and Europe. Such space accommodates health plans, managed care services, specialty programs or satellite administrative offices. The Company's leases expire at various dates through May 31, 2025. As of December 31, 2000, the Company owned approximately 121,500 aggregate square feet of space for administrative offices in various states.
The Company's consolidated financial statements together with the Report of Independent Public Accountants thereon appearing on pages 30 through 49 of the Company's Annual Report to Shareholders for the fiscal year ended December 31, 2000 are incorporated herein by reference.
CNA Plaza, owned by Continental Assurance Company, serves as the home office for CNAF and its insurance subsidiaries. An adjacent building (located at 55 E. Jackson Blvd.), jointly owned by Continental Casualty Company and Continental Assurance Company, is partially situated on grounds under leases expiring in 2058. Approximately 28% of the adjacent building is rented to non-affiliates. CNAF's subsidiaries lease office space in various cities throughout the United States and in other countries. The following table sets forth certain information with respect to the principal office buildings owned or leased by CNAF's subsidiaries: -------------------------------------------------------------------------- AMOUNT OF BUILDING OWNED AND OCCUPIED OR LEASED LOCATION BY CNA OR ITS SUBSIDIARIES PRINCIPAL USAGE -------------------------------------------------------------------------- CNA 1,144,378 sq. ft.* Principal Executive Plaza Offices of CNAF 333 S. Wabash Chicago, Illinois
333 Glen Street 157,825** Property/Casualty Glen Falls, New York Insurance Offices
1100 Cornwall Road 147,884** Property/Casualty Monmouth Junction Insurance Offices New Jersey
FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA Consolidated Balance Sheet - December 31, 1997 and 1996
Statement of Consolidated Cash Flows - Year Ended December 31, 1997, 1996 and 1995
St. Paul Fire and Marine Insurance Company and its subsidiary, St. Paul Properties, Inc., own a portfolio of income-producing properties in various locations across the United States that they have purchased for investment.
The "Management's Discussion and Analysis" section on pages 16 to 43 of the 1995 Annual Report to Shareholders is incorporated herein by reference.
The financial statements and supplementary data on pages 46 to 67 of the 1995 Annual Report to Shareholders are incorporated herein by reference.
Reference is made to “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Annual Report for the year ended December 31, 2002, incorporated herein by reference.
The Company and its subsidiaries, the Exchange and its subsidiary and EFL share a corporate home office complex in Erie, Pennsylvania which contains 358,202 square feet and is owned by the Exchange. At December 31, 1999 in addition to the Erie branch office, the Company also operated 20 additional field offices in 10 states. Of these sites, 16 provide both agency support and claims services and are referred to as "Branch Offices", while the remaining 4 provide only claims services and are considered "Claims Offices".
Reference is made to "Management's Discussion and Analysis of Financial Condition and Results of Operations" on pages 18 through 29 of the Annual Report for the year ended December 31, 1999, incorporated herein by reference.
CNA Plaza, owned by Continental Assurance Company, serves as the home office for CNA and its insurance subsidiaries. An adjacent building (located at 55 E. Jackson Blvd.), jointly owned by Continental Casualty Company and Continental Assurance Company, is partially situated on grounds under leases expiring in 2058. Approximately 30% of the adjacent building is rented to non-affiliates. CNA's subsidiaries lease office space in various cities throughout the United States and in other countries. The following table sets forth certain information with respect to the principal office buildings owned or leased by CNA's subsidiaries:
- -------------------------------------------------------------------------------- AMOUNT OF BUILDING OWNED AND OCCUPIED OR LEASED BY CNA OR ITS LOCATION SUBSIDIARIES PRINCIPAL USAGE - -------------------------------------------------------------------------------- CNA Plaza 1,144,378 * Principal Executive Offices 333 S. Wabash of CNA Chicago, Illinois
180 Maiden Lane 507,547* Property/Casualty New York, New York Insurance Offices
333 Glen Street 157,825** Property/Casualty Glen Falls, New York Insurance Offices; Residual Market Center
1431 Opus Place 106,151** Property/Casualty, Downers Grove, Illinois Surety Insurance Offices
1100 Ward Avenue 93,771* First Insurance Company Honolulu, Hawaii of Hawaii, Ltd.Headquarters
* Represents property owned by CNA or its subsidiaries. ** Represents property leased by CNA or its subsidiaries.
Incorporated herein by reference from page 2 of the 1996 Annual Report to Shareholders.
Statement of Consolidated Stockholders' Equity - December 31, 1996, 1995 and 1994
The above Consolidated Financial Statements, the related Notes to the Consolidated Financial Statements and the Independent Auditors' Report are incorporated herein by reference from pages 30 through 81 of the 1996 Annual Report to Shareholders.
Pursuant to an administrative services agreement with American International Company, Limited ("AICL"), a wholly-owned subsidiary of AIG, IPC is allocated office space in AICL's building in Bermuda and IPC's principal executive offices are located there. The address of the principal executive offices is American International Building, 29 Richmond Road, Pembroke HM 08, Bermuda and its telephone number is (441) 295-2121. In addition, the Company leases office space located in London, England.
The historical consolidated financial data presented below as of and for each of the periods ended December 31, 1996, 1995 and 1994 were derived from the Company's consolidated financial statements which are incorporated herein by reference to the Annual Report. The selected consolidated financial data should be read in conjunction with the Company's consolidated financial statements and related notes thereto, and with "Management's Discussion and Analysis of Financial Condition and Results of Operations" also contained in the Annual Report and incorporated herein by reference.
(6) Book value per Common Share is based on the number of Common Shares outstanding on the relevant date (after giving effect to the Exchange), after considering the effect of the AIG Option as of each date presented and after considering the effect of options granted to employees, calculated on the basis described in note (2) above.
CNA Plaza, owned by Continental Assurance Company, serves as the home office for CNAF and its insurance subsidiaries. An adjacent building (located at 55 E. Jackson Blvd.), jointly owned by Continental Casualty Company and Continental Assurance Company, is partially situated on grounds under leases expiring in 2058. Approximately 25% of the adjacent building is rented to non-affiliates. CNAF's subsidiaries lease office space in various cities throughout the United States and in other countries. The following table sets forth certain information with respect to the principal office buildings owned or leased by CNAF's subsidiaries:
CNA Plaza 1,144,378 sq. ft.* Principal Executive 333 S. Wabash Offices of CNAF Chicago, Illinois
Incorporated herein by reference from pages 13 through 41 of the 1999 Annual Report to Shareholders.
Consolidated Statements of Operations - Year Ended December 3l, 1999, 1998 and 1997
Consolidated Statements of Cash Flows - Year Ended December 31, 1999, 1998 and 1997
The "Selected Financial Data" section on pages 1 and 2 of Exhibit 13 representing pages 6 and 7 of the Company's annual report to security holders for the year ended December 31, 1998, is incorporated herein by reference.
Management's Discussion and Analysis of Financial Condition and Results ----------------------------------------------------------------------- of Operations. - --------------
The "Management's Discussion and Analysis" section on pages 3 through 11 of Exhibit 13 representing pages 12 through 20 of the Company's annual report to security holders for the fiscal year ended December 31, 1998, is incorporated herein by reference.
The Financial Statements on pages 12 through 35 of Exhibit 13 representing pages 21 through 44 of the Company's annual report to security holders for the fiscal year ended December 31, 1998, are incorporated herein by reference.
The Company has constructed a corporate office complex in Mayfield Village, Ohio, near the site of its corporate headquarters, containing a total of approximately 732,300 square feet, and a parking garage, at an estimated cost of $129.0 million. As of December 31, 2000, $119.1 million has been paid. The first building was completed in May 1999. The next two buildings were completed in the first quarter of 2000. The parking garage and fourth building were completed in the fourth quarter of 2000. The fifth building was completed in the first quarter of 2001. The construction project is being funded through operating cash flows.
The Consolidated Financial Statements of the Company, along with the related notes, supplementary data and report of independent accountants, are incorporated by reference from the Company’s Annual Report, pages 26 through 41 and pages 47 through 55.
The Company owns two adjacent office buildings and property located on the corner of North Columbia and West Rosemary Streets in Chapel Hill, North Carolina, which serve as the Company's corporate headquarters. The main building contains approximately 23,000 square feet and has on-site parking facilities. The Company's principal subsidiary, ITIC, leases office space in 33 locations throughout North Carolina, South Carolina, Michigan and Nebraska. NE-ITIC leases office space in one location in New York. Each of the office facilities occupied by the Company and its subsidiaries are in good condition and adequate for present operations. In November 2005, the Company purchased approximately 7,000 square feet of additional office space in Chapel Hill, North Carolina that was previously leased for ITEC, ITAC, ITIC’s Commercial Services Division and ITIC’s Settlement Services Division.
The selected financial data for the last five fiscal years of the Company and its subsidiaries is set forth under the caption "Financial Highlights" in the Annual Report to Shareholders and is incorporated by reference in this Form 10-K Annual Report. The information should be read in conjunction with the Consolidated Financial Statements, Notes to Consolidated Financial Statements and Management's Discussion and Analysis of Financial Condition and Results of Operations in the 2005 Annual Report to Shareholders, which are incorporated by reference in this Form 10-K Annual Report.
Management's Discussion and Analysis of Financial Condition and Results of Operations in the 2005 Annual Report to Shareholders is incorporated by reference in this Form 10-K Annual Report.