Financial Information

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Financial Highlights

Total Company (Dollars in Millions) 2011 2010
Net Income $214 $203
Stockholder's Equity $1,994 $1,780
Assets $48,336 $47,627
Employees 3,200 3,100
Business Segments (Dollars in Millions) 2011 2010
Great-West Retirement Services
Recordkeeping Accounts 4.4 million 4.4 million
Assets Administered $151,017 $146,969
Individual Markets
Individual Accounts 517,000 518,000
Assets Administered $21,359 $20,723
GWRS numbers reflect all FASCore customers: those of institutional clients, third-party administrator clients and GWRS.
All figures as of Dec. 31.
Financial Statement Summary
Balance Sheet (Dollars in Millions) 2011 2010
Assets
Bonds 16,737.3 16,087.2
Mortgages 2,513.1 1,722.4
Policy loans 4,219.8 4,059.7
Short-term investments 332.8 964.5
Other investments 192.2 234.8
Total invested assets 23,995.2 23,068.6
Cash 7.6 4.4
Receivables 979.1 1,037.6
Assets of discontinued operations1 39.6 62.1
Other assets 983.1 965.6
Total general account 26,004.6 25,138.3
Separate account assets 22,331.4 22,489.0
Total assets 48,336.0 47,627.3
Liabilities
Policyholder 22,597.4 21,160.3
General 1,373.2 2,135.8
Liabilities of discontinued operations1 39.6 62.0
Separate account 22,331.4 22,489.0
Total liabilities 46,341.6 45,847.1
Stockholder's equity 1,994.4 1,780.2
Total liabilities and equity 48,336.0 47,627.3
Statement of Income (Dollars in Millions) 2011 2010
Revenues
Premiums 523.2 805.6
Fee income 486.8 448.0
Net investment income 1,158.5 1,174.7
Net realized gains (losses) 24.5 (24.5)
Total revenues 2,193.0 2,403.8
Benefits and expenses
Policy benefits 645.6 628.9
Increase in future policy benefits 18.8 320.2
Interest paid or credited to contractholders 529.3 518.9
Provision for policyholders' share of earnings on participating business 2.9 2.2
Policyholder dividends 67.3 70.2
Operating expenses 614.8 586.5
Total benefits and expenses 1,878.7 2,126.9
Income from continuing operations before income taxes 314.3 276.9
Income tax expense 100.2 72.5
Income from continuing operations 214.1 204.4
Loss from discontinued operations1 - (1.6)
Net income 214.1 202.8
1In 2008, Great-West completed the sale of its healthcare division. The financial information presented here reflects the discontinuation of the healthcare business.