UnitedHealth Group reported financial results for the fourth quarter and full year 2006. Fourth quarter revenues exceeded $18.1 billion, a 47% increase over the previous year. Full year revenues reached $71.68 billion, a 54% increase. Net earnings for the fourth quarter were $1.2 billion and $4.174 billion for the full year. The company affirmed projected 2007 net income in the range of $4.7-4.75 billion, including $980 million to $1 billion in Q1 2007.
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
Latino Buying Power - May 2024 Presentation for Latino CaucusDanay Escanaverino
Unlock the potential of Latino Buying Power with this in-depth SlideShare presentation. Explore how the Latino consumer market is transforming the American economy, driven by their significant buying power, entrepreneurial contributions, and growing influence across various sectors.
**Key Sections Covered:**
1. **Economic Impact:** Understand the profound economic impact of Latino consumers on the U.S. economy. Discover how their increasing purchasing power is fueling growth in key industries and contributing to national economic prosperity.
2. **Buying Power:** Dive into detailed analyses of Latino buying power, including its growth trends, key drivers, and projections for the future. Learn how this influential group’s spending habits are shaping market dynamics and creating opportunities for businesses.
3. **Entrepreneurial Contributions:** Explore the entrepreneurial spirit within the Latino community. Examine how Latino-owned businesses are thriving and contributing to job creation, innovation, and economic diversification.
4. **Workforce Statistics:** Gain insights into the role of Latino workers in the American labor market. Review statistics on employment rates, occupational distribution, and the economic contributions of Latino professionals across various industries.
5. **Media Consumption:** Understand the media consumption habits of Latino audiences. Discover their preferences for digital platforms, television, radio, and social media. Learn how these consumption patterns are influencing advertising strategies and media content.
6. **Education:** Examine the educational achievements and challenges within the Latino community. Review statistics on enrollment, graduation rates, and fields of study. Understand the implications of education on economic mobility and workforce readiness.
7. **Home Ownership:** Explore trends in Latino home ownership. Understand the factors driving home buying decisions, the challenges faced by Latino homeowners, and the impact of home ownership on community stability and economic growth.
This SlideShare provides valuable insights for marketers, business owners, policymakers, and anyone interested in the economic influence of the Latino community. By understanding the various facets of Latino buying power, you can effectively engage with this dynamic and growing market segment.
Equip yourself with the knowledge to leverage Latino buying power, tap into their entrepreneurial spirit, and connect with their unique cultural and consumer preferences. Drive your business success by embracing the economic potential of Latino consumers.
**Keywords:** Latino buying power, economic impact, entrepreneurial contributions, workforce statistics, media consumption, education, home ownership, Latino market, Hispanic buying power, Latino purchasing power.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
NO1 Uk Black Magic Specialist Expert In Sahiwal, Okara, Hafizabad, Mandi Bah...Amil Baba Dawood bangali
Contact with Dawood Bhai Just call on +92322-6382012 and we'll help you. We'll solve all your problems within 12 to 24 hours and with 101% guarantee and with astrology systematic. If you want to take any personal or professional advice then also you can call us on +92322-6382012 , ONLINE LOVE PROBLEM & Other all types of Daily Life Problem's.Then CALL or WHATSAPP us on +92322-6382012 and Get all these problems solutions here by Amil Baba DAWOOD BANGALI
#vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore#blackmagicformarriage #aamilbaba #kalajadu #kalailam #taweez #wazifaexpert #jadumantar #vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore #blackmagicforlove #blackmagicformarriage #aamilbaba #kalajadu #kalailam #taweez #wazifaexpert #jadumantar #vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore #Amilbabainuk #amilbabainspain #amilbabaindubai #Amilbabainnorway #amilbabainkrachi #amilbabainlahore #amilbabaingujranwalan #amilbabainislamabad
how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
NO1 Uk Divorce problem uk all amil baba in karachi,lahore,pakistan talaq ka m...Amil Baba Dawood bangali
Contact with Dawood Bhai Just call on +92322-6382012 and we'll help you. We'll solve all your problems within 12 to 24 hours and with 101% guarantee and with astrology systematic. If you want to take any personal or professional advice then also you can call us on +92322-6382012 , ONLINE LOVE PROBLEM & Other all types of Daily Life Problem's.Then CALL or WHATSAPP us on +92322-6382012 and Get all these problems solutions here by Amil Baba DAWOOD BANGALI
#vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore#blackmagicformarriage #aamilbaba #kalajadu #kalailam #taweez #wazifaexpert #jadumantar #vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore #blackmagicforlove #blackmagicformarriage #aamilbaba #kalajadu #kalailam #taweez #wazifaexpert #jadumantar #vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore #Amilbabainuk #amilbabainspain #amilbabaindubai #Amilbabainnorway #amilbabainkrachi #amilbabainlahore #amilbabaingujranwalan #amilbabainislamabad
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
how to sell pi coins effectively (from 50 - 100k pi)
United Health Group [PDF Document] Earnings Release
1. NEWS RELEASE
Contacts: John S. Penshorn G. Mike Mikan
Senior Vice President Chief Financial Officer
952-936-7214 952-936-7374
Media: Don Nathan
952-936-1885
(For Immediate Release)
UNITEDHEALTH GROUP REPORTS 2006 REVENUES OF $71.7 BILLION
FOURTH QUARTER NET EARNINGS OF $1.2 BILLION
FULL YEAR NET EARNINGS OF $4.174 BILLION
Fourth Quarter Revenues Up 47% Full Year Revenues Up 54%
Fourth Quarter Operating Margin of 11% Full Year Operating Margin of 9.7%
Fourth Quarter Cash Flows From Operations Full Year Cash Flows From Operations
of $1.6 Billion of $6.5 Billion
As previously disclosed, UnitedHealth Group has withdrawn reliance upon its historical financial statements
because previously reported operating costs did not correctly reflect non-cash stock-based compensation
expenses related to historic stock option grants. Accordingly, this news release does not contain year-over-year
or quarter-over-quarter comparisons of operating costs, earnings from operations, net income, or earnings per
share metrics, all of which are subject to adjustment until the Company completes its restatement and becomes
current in its periodic reports with the Securities and Exchange Commission (SEC).
The 2006 financial information in this news release is presented according to FAS 123R, the Company’s current
accounting method, and includes UnitedHealth Group’s estimate of the non-cash full year impact of adjustments
to operating expenses for historical stock option grants of $25 million. The $25 million full year charge is at the
low end of the range of outcomes of $25 million to $60 million for FAS 123R adjustments discussed in the
Company’s Form 8-K filed on December 19, 2006. Including the $25 million charge, full year 2006 results
include a total of approximately $100 million in cash and non-cash expenses related to the stock options matter
that were incremental to the Company’s initial 2006 financial outlook. Fourth quarter 2006 results include a
total of approximately $50 million in cash and non-cash expenses related to stock option matters, including a
$13 million charge related to historical stock options under FAS 123R.
Please note that the estimated amount of additional non-cash stock-based compensation expense has not been
audited and is not yet final; it is subject to change until UnitedHealth Group completes its restatement. In
addition, the financial information presented does not reflect any adjustments for non-operating cash charges that
may be required in connection with the resolution of stock-option-related litigation, regulatory and tax matters,
including any impact on prior tax deductions and related tax accounts for previously exercised stock options
under Section 162(m) of the Internal Revenue Code. The amount and timing of these non-operating cash
charges are uncertain, but they are likely to be material.
1 of 12
2. Quarterly and Annual Financial Performance
December 31, 2006
Three Months
Ended Year Ended
Revenues $18.16 billion $71.68 billion
Earnings From
$2.0 billion $6.97 billion
Operations
Operating
Margin 11.0% 9.7%
MINNEAPOLIS (January 18, 2007) – UnitedHealth Group (NYSE: UNH) today reported that it achieved record
revenues for the fourth quarter and full year ended December 31, 2006. Full year results were driven by balanced
growth and earnings contributions across the diversified UnitedHealth Group businesses, which provided services to
a total of more than 4.7 million new people in 2006.
Fourth Quarter and Full Year Highlights
Fourth quarter consolidated net earnings increased to $1.2 billion; full year net earnings increased to
$4.174 billion. In the fourth quarter, there were 1.400 billion diluted weighted-average common shares
outstanding. For the full year, there were 1.404 billion diluted weighted-average common shares
outstanding.
Cash flows from operations were approximately $1.6 billion in the fourth quarter and were approximately
$6.5 billion for the year. Full year operating cash flows exceeded 150 percent of net income.
Consolidated fourth quarter revenues exceeded $18.1 billion, increasing $5.8 billion or 47 percent year-
over-year and $146 million or 1 percent sequentially. Revenues for full year 2006 increased $25.2 billion
or 54 percent to $71.7 billion, with revenue advances in each of the Company’s business segments.
Excluding revenue contributions from merger activity across the spectrum of UnitedHealth Group
businesses, full year revenues grew at a 21 percent rate in 2006.
Earnings from operations were $2 billion in the fourth quarter, and full year earnings from operations were
approximately $7 billion in 2006.
2 of 12
3. Fourth Quarter and Full Year Highlights – Continued
Consolidated fourth quarter operating margin reached 11.0 percent. The full year reported operating
margin of 9.7 percent reflected strong margin performance from historical UnitedHealth Group operating
units, with overall margin moderated by business mix changes driven by the commencement of the
Company’s Medicare Part D prescription drug plan offerings (Part D) and the acquisition of PacifiCare
Health Systems (PacifiCare).
Operating costs represented 15.0 percent of revenues in the fourth quarter, including incremental costs
related to stock options matters as discussed in the text box on page one of this news release. The full year
operating cost ratio of 14.7 percent also included costs related to stock option matters that were incremental
to the Company’s original financial outlook for 2006, a portion of which will continue into 2007.
The fourth quarter consolidated medical care ratio of 79.9 percent, which includes all risk-based businesses
and products, declined 120 basis points on a sequential quarter basis, driven by the seasonally strong
performance of Medicare Part D. The full year 2006 medical care ratio of 81.2 percent increased 120 basis
points from 2005 results, and the fourth quarter 2006 medical care ratio increased 30 basis points year-
over-year. These increases were largely due to the impact of the acquisition of PacifiCare in late December
2005 and the commencement of Medicare Part D on January 1, 2006.
Medical costs payable, excluding the AARP supplemental insurance offerings of Ovations, increased
$811 million or 13 percent year-over-year to $7.1 billion. Medical costs days payable were 53 days for the
fourth quarter, excluding the AARP offerings and the effects of mid-quarter acquisitions; this was
consistent with their levels of 53 days and 54 days in the second and third quarters of 2006, respectively.
During the fourth quarter, the Company realized favorable development of $50 million in its estimates of
medical costs incurred in 2005, bringing the full year total to $430 million. There was no current period
effect from changes in the Company’s previous estimates of medical costs incurred in the first nine months
of 2006.
Accounts receivable, excluding the AARP offerings of Ovations, were $902 million at December 31, 2006
and represented 5 days sales outstanding.
Future Outlook and Comment
The Company sees expanding market opportunities and growth in 2007 and coming years, and affirms projected
2007 net income in the range of $4.7 billion to $4.75 billion – including net income of $980 million to $1 billion in
the first quarter of 2007 – subject to potential adjustments for non-cash and cash expenses related to stock options
matters. The Company does not yet have an estimated timeline for resolution of these matters.
3 of 12
4. Future Outlook and Comment – Continued
Stephen J. Hemsley, president and chief executive officer of UnitedHealth Group, said, “We concluded 2006 with a
strong earnings performance and are pleased to reaffirm our positive outlook for growth in 2007. UnitedHealth
Group, importantly, is a highly adaptive enterprise well-positioned for the future and the changes in the health care
environment that are ahead. We are strengthening our organization, shifting investments in technology, and
enhancing our service offerings to directly address critical unmet needs in health care. These needs include
advancing the role of consumers in health care broadly, participating in public-private partnerships and providing
critical information services, systems and financial resources in the commercial business-to-business market.quot;
4 of 12
5. Business Description – Health Care Services
The Health Care Services segment consists of the UnitedHealthcare, AmeriChoice and Ovations business units.
UnitedHealthcare coordinates network-based health and well-being services on behalf of multistate mid-sized and
local employers and for consumers. AmeriChoice facilitates and manages health care services for state Medicaid
programs and their beneficiaries. Ovations delivers health and well-being services to Americans over the age of 50.
Quarterly and Annual Financial Performance
December 31, 2006
Three Months
Ended Year Ended
Revenues $16.20 billion $64.18 billion
Earnings From
Operations $1.49 billion $5.12 billion
Operating
Margin 9.2% 8.0%
Key Developments for Health Care Services
Fourth quarter 2006 Health Care Services revenues grew $5.6 billion or 53 percent year-over-year to
$16.2 billion. Full year revenues increased $24.2 billion or 60 percent to $64.2 billion. On an organic basis, the
business segment grew 23 percent year-over-year, led by the expansion of services in the senior market.
Fourth quarter Health Care Services earnings from operations were $1.5 billion; full year earnings from
operations exceeded $5.1 billion.
The fourth quarter operating margin of 9.2 percent benefited from the strong quarterly performance of the
Medicare Part D business. The full year operating margin of 8.0 percent reflected strong operating performance
in total and the business mix impact of the commencement of Part D and the late December 2005 acquisition
of PacifiCare.
5 of 12
6. Key Developments for Health Care Services – Continued
Ovations fourth quarter revenues of $6.3 billion grew $3.7 billion or 140 percent year-over-year but declined
approximately $50 million from the third quarter 2006 level. The expected sequential decrease was due to the
reversal of federal risk-sharing receivables recorded when the Part D program was in an operating loss position
in early 2006, as required under generally accepted accounting principles. Full year Ovations revenues of
$25.3 billion increased $15.9 billion or 168 percent over 2005 results. Ovations grew 2006 revenues 91 percent
year-over-year on an organic basis, including the launch of Medicare Part D plans and growth in the PacifiCare
senior businesses subsequent to the closing of the merger.
Ovations added a total of 260,000 seniors in its SecureHorizons Medicare Advantage health benefit programs in
2006, principally through organic growth. Enrollment was essentially flat in the fourth quarter, as expected, due
to the federal lock-in requirements for members.
Prescription Solutions, the Ovations pharmacy benefit management unit, will roughly triple its pharmaceutical
spending under management in first quarter 2007, due to both year-over-year growth in Part D prescription drug
plan membership in total and the in-sourcing of certain vendor services on January 1, 2007. This transition has
been smooth, with 8 million prescriptions filled for consumers in Part D programs in just the first 10 days
of January.
AmeriChoice fourth quarter revenues of $970 million increased $97 million or 11 percent year-over-year and
$22 million or 2 percent sequentially. Full year AmeriChoice revenues of $3.7 billion increased 10 percent
year-over-year.
AmeriChoice grew enrollment by 20,000 people in the fourth quarter of 2006, bringing the year-end total to
1.425 million people. Year-over-year, the number of people served by AmeriChoice increased by
175,000 people through a combination of growth and acquisitions. The business is positioned for continued
growth in 2007, led by the second quarter 2007 commencement of a significant contract to provide services to
approximately 170,000 new people in Tennessee.
6 of 12
7. Key Developments for Health Care Services – Continued
UnitedHealthcare fourth quarter revenues of $8.9 billion grew by $1.8 billion or 25 percent year-over-year and
more than $100 million or 1 percent from third quarter 2006. Full year revenues of $35.2 billion increased by
$8.0 billion or 29 percent year-over-year, principally due to business expansion through targeted merger activity.
For the year, UnitedHealthcare and Uniprise brought services to an additional 1.1 million people, of which
565,000 were added through organic growth. On a stand-alone basis UnitedHealthcare expanded to reach
680,000 more people in 2006. In the fourth quarter, UnitedHealthcare grew fee-based membership by
65,000 people. The fourth quarter acquisitions of Student Resources in the college and university student
market and Arnett Health Plan in Indiana added 230,000 risk-based customers, which was partially offset by a
reduction of 40,000 people in the risk-based segments of its markets, principally due to the continued down-
sizing of the American Medical Securities business.
The fourth quarter UnitedHealthcare medical care ratio was 80.0 percent, an increase of 60 basis points from
third quarter 2006, principally due to a comparatively lower level of favorable development in the quarter and
the impact of consumers with high deductible benefit plans reaching their deductible limits at the end of their
policy year. The full year medical care ratio of 79.8 percent increased 160 basis points from 2005; an increase
was expected due to the PacifiCare business mix impact.
7 of 12
8. Business Description
Uniprise delivers network-based health and well-being services, business-to-business transaction processing
services, consumer connectivity, and technology support services to large employers and health plans, and provides
health-related consumer and financial transaction products and services.
Quarterly and Annual Financial Performance
December 31, 2006
Three Months
Ended Year Ended
Revenues $1.43 billion $5.6 billion
Earnings From
Operations $232 million $893 million
Operating
Margin 16.3% 15.9%
Key Developments
Uniprise fourth quarter revenues of $1.4 billion increased $168 million or 13 percent over fourth quarter
2005 and $14 million from third quarter 2006. Full year revenues of $5.6 billion grew $637 million or
13 percent year-over-year.
Uniprise advanced the number of people served in the national multilocation employer segment by
430,000 people in 2006. Uniprise estimates it further added approximately 250,000 to 300,000 net new
consumers in early 2007, including a projection of first quarter employment-related attrition.
Across UnitedHealth Group businesses a net total of 715,000 new people purchased a health-account-linked,
consumer-directed plan design in 2006. This represented 61 percent growth year-over-year and brought total
participation in this specific category of products to 1.9 million people. Assets under management at Exante
Financial Services, the UnitedHealth Group health banking unit, reached $285 million as of year end.
The Uniprise fourth quarter operating margin of 16.3 percent exceeded the full year operating margin of
15.9 percent, despite seasonal fourth quarter enrollment costs and expenses for significant levels of benefit plan
changes related to 2007 enrollment activities at Uniprise and UnitedHealthcare. Overall, Uniprise operating
margins were strong, reflecting the application of advanced technology to improve basic business processes on
behalf of customers.
Fourth quarter earnings from operations were $232 million; full year results reached $893 million.
8 of 12
9. Business Description
Specialized Care Services offers a comprehensive array of specialized benefits, networks, services and resources to
make health care work better by connecting people to proven solutions for health and well-being.
Quarterly and Annual Financial Performance
December 31, 2006
Three Months
Ended Year Ended
Revenues $1.02 billion $3.99 billion
Earnings From
$205 million $767 million
Operations
Operating
Margin 20.1% 19.2%
Key Developments
Fourth quarter revenues exceeded $1 billion, up $266 million or 35 percent year-over-year and
$20 million or 2 percent from the third quarter of 2006. Full year revenues of nearly $4 billion increased
$1.2 billion or 42 percent, reflecting strong organic growth coupled with revenue gains from several
acquisitions executed since the beginning of 2005.
Specialized Care Services businesses added 2.7 million new people as customers in 2006 and sold
additional products to millions more who were already customers of UnitedHealth Group.
The Specialized Care Services fourth quarter operating margin of 20.1 percent expanded 50 basis points
sequentially, bringing the full year operating margin up to 19.2 percent. The fourth quarter and full year
operating margin percentages were consistent with the business mix for this reporting segment.
Fourth quarter earnings from operations were $205 million; full year earnings from operations reached
$767 million.
9 of 12
10. Business Description
Ingenix is a leader in the field of health care data, analysis and application, serving pharmaceutical companies,
health insurers and other payers, physicians and other health care providers, large employers and governments.
Quarterly and Annual Financial Performance
December 31, 2006
Three Months
Ended Year Ended
Revenues $304 million $975 million
Earnings From
$77 million $191 million
Operations
Operating
Margin 25.3% 19.6%
Key Developments
Ingenix fourth quarter revenues of $304 million increased more than 20 percent year-over-year and
sequentially. Advances were driven by the seasonal demand for Ingenix syndicated content products and
strong software sales. Ingenix full year revenues of $975 million also increased by more than 20 percent
year-over-year.
Fourth quarter earnings from operations at Ingenix reached $77 million, bringing full year earnings from
operations to $191 million. The fourth quarter operating margin of 25.3 percent was seasonally strong, as
expected, and brought the full year operating margin up to 19.6 percent.
Strong sales performance continued in the fourth quarter, with the Ingenix contract revenue backlog
exceeding $1.1 billion across its business units on December 31, 2006, a year-over-year increase of
30 percent.
10 of 12
11. About UnitedHealth Group
UnitedHealth Group (www.unitedhealthgroup.com) is a diversified health and well-being company dedicated to
making health care work better. Headquartered in Minneapolis, Minn., UnitedHealth Group offers a broad spectrum
of products and services through six operating businesses: UnitedHealthcare, Ovations, AmeriChoice, Uniprise,
Specialized Care Services and Ingenix. Through its family of businesses, UnitedHealth Group serves approximately
70 million individuals nationwide.
Earnings Conference Call
As previously announced, UnitedHealth Group will discuss the Company’s results, strategy and future outlook on a
conference call with investors at 8:45 a.m. Eastern time today. UnitedHealth Group will host a live webcast of this
conference call from the Investor Information page of the Company’s Web site (www.unitedhealthgroup.com). The
webcast replay of the call will be available on the same site for one week following the live call. The conference
call replay can also be accessed by dialing 1-800-642-1687, conference ID #5399281. This earnings release and the
Form 8-K dated January 18, 2007, which may also be accessed in the Investor Information section of the Company’s
Web site, include a reconciliation of non-GAAP financial measures.
Forward-Looking Statements
This news release may contain statements, estimates, projections, guidance or outlook that constitute “forward-
looking” statements as defined under U.S. federal securities laws. Generally the words “believe,” “expect,”
“intend,” “estimate,” “anticipate,” “project,” “will” and similar expressions, identify forward-looking statements,
which generally are not historical in nature. These statements may contain information about financial prospects,
economic conditions, trends and unknown certainties. We caution that actual results could differ materially from
those that management expects, depending on the outcome of certain factors. These forward-looking statements
involve risks and uncertainties that may cause our actual results to differ materially from the results discussed in the
forward-looking statements. Some factors that could cause results to differ materially from the forward-looking
statements include: the potential consequences of the findings announced on October 15, 2006 of the investigation
by an Independent Committee of directors of our stock option programs (including the consequences of our
determination that the Company’s financial statements for the years ended 1994 to 2005, the interim periods
contained therein, the quarter ended March 31, 2006 and all earnings and news releases, including for the quarters
ended June 30, 2006 and September 30, 2006, and similar communications issued by the Company for such periods
and the related reports of the Company’s independent registered public accounting firm should not be relied upon,
the consequences of the resulting restatement of our financial statements for those periods, and delays in filing our
quarterly reports on Form 10-Q for the second and third quarters of 2006), related governmental reviews, including a
formal investigation by the SEC, and review by the IRS, U.S. Senate Finance Committee, U.S. Attorney for the
Southern District of New York and Minnesota Attorney General, a related review by the Special Litigation
Committee of the Company, and related shareholder derivative actions, shareholder demands and purported
securities and Employee Retirement Income Security Act (ERISA) class actions, the resolution of matters currently
subject to an injunction issued by the United States District Court for the District of Minnesota, a purported notice of
acceleration with respect to certain of the Company’s debt securities based upon an alleged event of default under
the indenture governing such securities, and recent management and director changes, and the potential impact of
11 of 12
12. each of these matters on our business, credit ratings and debt; increases in health care costs that are higher than we
anticipated in establishing our premium rates, including increased consumption of or costs of medical services;
heightened competition as a result of new entrants into our market, and consolidation of health care companies and
suppliers; events that may negatively affect our contract with AARP; uncertainties regarding changes in Medicare,
including coordination of information systems and accuracy of certain assumptions; funding risks with respect to
revenues received from Medicare and Medicaid programs; increases in costs and other liabilities associated with
increased litigation, legislative activity and government regulation and review of our industry; our ability to execute
contracts on competitive terms with physicians, hospitals and other service providers; regulatory and other risks
associated with the pharmacy benefits management industry; failure to maintain effective and efficient information
systems, which could result in the loss of existing customers, difficulties in attracting new customers, difficulties in
determining medical costs estimates and appropriate pricing, customer and physician and health care provider
disputes, regulatory violations, increases in operating costs, or other adverse consequences; possible impairment of
the value of our intangible assets if future results do not adequately support goodwill and intangible assets recorded
for businesses that we acquire; potential noncompliance by our business associates with patient privacy data;
misappropriation of our proprietary technology; and anticipated benefits of acquiring PacifiCare that may not be
realized.
This list of important factors is not intended to be exhaustive. A further list and description of some of these risks
and uncertainties can be found in our reports filed with the Securities and Exchange Commission from time to time,
including our annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K. Any
or all forward-looking statements we make may turn out to be wrong. You should not place undue reliance on
forward-looking statements, which speak only as of the date they are made. Except to the extent otherwise required
by federal securities laws, we do not undertake to publicly update or revise any forward-looking statements.
###
12 of 12
13. UNITEDHEALTH GROUP
Earnings Release Schedules and Supplementary Information
Quarter Ended December 31, 2006
- Consolidated Statements of Operations
- Segment Financial Information
- Customer Profile Summary
- Non-GAAP Financial Measures
As previously disclosed, UnitedHealth Group has withdrawn reliance upon its historical financial statements because previously
reported operating costs did not correctly reflect non-cash stock-based compensation expenses related to historic stock option grants.
Accordingly, this news release does not contain year-over-year or quarter-over-quarter comparisons of operating costs, earnings from
operations, net income, or earnings per share metrics, all of which are subject to adjustment until the Company completes its
restatement and becomes current in its periodic reports with the Securities and Exchange Commission (SEC).
The 2006 financial information in this news release is presented according to FAS 123R, the Company’s current accounting method,
and includes UnitedHealth Group’s estimate of the non-cash full year impact of adjustments to operating expenses for historical stock
option grants of $25 million. The $25 million full year charge is at the low end of the range of outcomes of $25 million to $60 million for
FAS 123R adjustments discussed in the Company’s Form 8-K filed on December 19, 2006. Including the $25 million charge, full year
2006 results include a total of approximately $100 million in cash and non-cash expenses related to the stock options matter that were
incremental to the Company’s initial 2006 financial outlook. Fourth quarter 2006 results include a total of approximately $50 million in
cash and non-cash expenses related to stock option matters, including a $13 million charge related to historical stock options under
FAS 123R.
Please note that the estimated amount of additional non-cash stock-based compensation expense has not been audited and is not yet
final; it is subject to change until UnitedHealth Group completes its restatement. In addition, the financial information presented does
not reflect any adjustments for non-operating cash charges that may be required in connection with the resolution of stock-option-
related litigation, regulatory and tax matters, including any impact on prior tax deductions and related tax accounts for previously
exercised stock options under Section 162(m) of the Internal Revenue Code. The amount and timing of these non-operating cash
charges are uncertain, but they are likely to be material.
14. UNITEDHEALTH GROUP
CONSOLIDATED STATEMENTS OF OPERATIONS
(in millions)
(unaudited)
Year Ended
Three Months Ended December 31, 2006
December 31, 2006 (a)
REVENUES
$ 16,594 $ 65,835
Premiums
1,310 5,004
Services
253 845
Investment and Other Income
18,157 71,684
Total Revenues
COSTS
13,253 53,476
Medical Costs
2,723 10,567
Operating Costs
177 670
Depreciation and Amortization
16,153 64,713
Total Costs
EARNINGS FROM OPERATIONS 2,004 6,971
(129) (456)
Interest Expense
EARNINGS BEFORE INCOME TAXES 1,875 6,515
(675) (2,341)
Provision for Income Taxes
NET EARNINGS $ 1,200 $ 4,174
Diluted Weighted-Average Common Shares Outstanding 1,400 1,404
(a) Includes the estimated impact of the stock option review and other matters on the first three quarters of 2006.
2
15. UNITEDHEALTH GROUP
SEGMENT FINANCIAL INFORMATION
(in millions)
(unaudited)
REVENUES
Three Months Ended Year Ended
December 31, 2006 December 31, 2006
UnitedHealthcare $ 8,898 $ 35,153
Ovations 6,336 25,301
AmeriChoice 970 3,721
Health Care Services 16,204 64,175
Uniprise 1,426 5,600
Specialized Care Services 1,019 3,988
Ingenix 304 975
Eliminations (796) (3,054)
Total Consolidated $ 18,157 $ 71,684
EARNINGS FROM OPERATIONS
Three Months Ended Year Ended
December 31, 2006 December 31, 2006
Health Care Services $ 1,490 $ 5,120
Uniprise 232 893
Specialized Care Services 205 767
Ingenix 77 191
Total Consolidated $ 2,004 $ 6,971
3
16. UNITEDHEALTH GROUP
CUSTOMER PROFILE SUMMARY
(in thousands)
(unaudited)
December September June December
2006 (a) 2006 2006 2005
Customer Profile
Commercial Businesses
Risk-based 14,490 14,150 14,310 14,410
Fee-based 18,870 18,675 18,575 17,380
Federal, State, and Municipal Governments (b) 14,275 14,235 14,085 9,110
Individual Consumers (c) 1,115 1,115 1,180 1,685
Institutional (d) 21,930 22,210 21,735 23,360
Grand Total 70,680 70,385 69,885 65,945
Total Medicare Part D (included above) 5,740 5,745 5,670 -
Consumer-Directed Health Plans (included above) 1,890 1,850 1,800 1,175
Supplemental Segment Profile - Health Care Services and Uniprise December September June December
2006 (a) 2006 2006 2005
Health Care Services:
Risk-based commercial 10,040 9,850 9,945 10,105
Fee-based commercial 4,735 4,670 4,640 3,990
Medicare Advantage 1,410 1,415 1,395 1,150
Medicaid 1,425 1,405 1,360 1,250
Total Health Care Services 17,610 17,340 17,340 16,495
Uniprise 10,925 10,990 11,035 10,495
(a) Includes 230,000 Risk-based individuals served in connection with two acquisitions which closed during the fourth quarter of 2006.
(b) Year-to-date increase primarily due to individuals served in connection with the new Medicare Part D program beginning January 1, 2006.
(c) Year-to-date decrease primarily due to individuals who historically had non-governmental drug cards switching to the Medicare Part D program.
(d) Year-to-date decrease primarily due to individuals who historically had only AARP Medicare supplement products, but added drug coverage under the Medicare Part D program.
4
17. UNITEDHEALTH GROUP
Reconciliation of Non-GAAP Measures
quot;Part D Normalizedquot; Operating Results
(in millions)
(unaudited)
Three Months Ended December 31, 2006
Non-GAAP Consolidated
Consolidated Reconciling quot;Part D
GAAP Reporting Items Normalizedquot;
REVENUES
$ 16,594 $ 335 (a) $ 16,929
Premiums
1,310 - 1,310
Services
253 - 253
Investment and Other Income
18,157 335 18,492
Total Revenues
COSTS
13,253 529 (b) 13,782
Medical Costs
2,723 - 2,723
Operating Costs
177 - 177
Depreciation and Amortization
16,153 529 16,682
Total Costs
2,004 (194) 1,810
EARNINGS FROM OPERATIONS
(129) - (129)
Interest Expense
1,875 (194) 1,681
EARNINGS BEFORE INCOME TAXES
(675) 70 (605)
Provision for Income Taxes
NET EARNINGS $ 1,200 $ (124) $ 1,076
1,400 1,400 1,400
Diluted Weighted-Average Common Shares Outstanding
79.9% 81.4%
Medical Care Ratio
Operating Cost Ratio 15.0% 14.7%
11.0% 9.8%
Operating Margin
Note: The Company began providing Medicare Part D prescription drug insurance coverage on January 1, 2006. As a result of the
Medicare Part D benefit design, the Company incurs benefit costs unevenly during the contract year with a disproportionate
amount of claims incurred in the first half of the annual contract year. On a full year basis, Medicare Part D generated a
positive operating margin.
The quot;Part D Normalizedquot; results have been presented to enhance comparability. The quot;Part D Normalizedquot; results assume
that full year Medicare Part D benefit costs are recognized based on actuarially projected utilization over the contract year.
Accordingly, quot;Part D Normalizedquot; results for each of the quarters of 2006 included a pro rata share of management's
estimate of full year 2006 Medicare Part D benefit costs relating to beneficiaries as of the respective period ends. quot;Part D
Normalizedquot; results are not meant to be considered in isolation or as a substitute for net earnings or diluted net earnings per
common share prepared in accordance with GAAP.
(a) Represents estimated CMS Medicare Part D risk-share premium adjustment that is recorded under GAAP as results fall
within the provisions of the risk-sharing arrangement. This adjustment is not necessary under quot;Part D Normalizedquot; as
medical costs reflect a pro-rata share of estimated annual medical costs.
(b) Represents actual medical costs incurred under the Medicare Part D contract less than (in excess of) a pro-rata share of
estimated annual medical costs.
5