UnitedHealth Group reported record third quarter results for 2005, with net earnings of $0.64 per share, up 23% from the third quarter of 2004. Revenues for the quarter were over $11.3 billion, up 15% year-over-year. The company extended health care services to 500,000 new consumers in the quarter. Operating margin expanded to 12.2% for the quarter. Cash flows from operations were $1.2 billion, a 25% increase from the prior year.
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
Yes of course, you can easily start mining pi network coin today and sell to legit pi vendors in the United States.
Here the telegram contact of my personal vendor.
@Pi_vendor_247
#pi network #pi coins #legit #passive income
#US
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
Lecture slide titled Fraud Risk Mitigation, Webinar Lecture Delivered at the Society for West African Internal Audit Practitioners (SWAIAP) on Wednesday, November 8, 2023.
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
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
Seminar: Gender Board Diversity through Ownership NetworksGRAPE
Seminar on gender diversity spillovers through ownership networks at FAME|GRAPE. Presenting novel research. Studies in economics and management using econometrics methods.
BYD SWOT Analysis and In-Depth Insights 2024.pptxmikemetalprod
Indepth analysis of the BYD 2024
BYD (Build Your Dreams) is a Chinese automaker and battery manufacturer that has snowballed over the past two decades to become a significant player in electric vehicles and global clean energy technology.
This SWOT analysis examines BYD's strengths, weaknesses, opportunities, and threats as it competes in the fast-changing automotive and energy storage industries.
Founded in 1995 and headquartered in Shenzhen, BYD started as a battery company before expanding into automobiles in the early 2000s.
Initially manufacturing gasoline-powered vehicles, BYD focused on plug-in hybrid and fully electric vehicles, leveraging its expertise in battery technology.
Today, BYD is the world’s largest electric vehicle manufacturer, delivering over 1.2 million electric cars globally. The company also produces electric buses, trucks, forklifts, and rail transit.
On the energy side, BYD is a major supplier of rechargeable batteries for cell phones, laptops, electric vehicles, and energy storage systems.
United Health Group [PDF Document] Form 8-K Related to Earnings Release
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report Pursuant to
Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of report (Date of earliest event reported): October 14, 2005
UNITEDHEALTH GROUP INCORPORATED
(Exact name of registrant as specified in its charter)
Minnesota 0-10864 41-1321939
(State or other jurisdiction (Commission File Number) (I.R.S. Employer
of incorporation) Identification No.)
UnitedHealth Group Center, 9900 Bren Road East, Minnetonka, Minnesota 55343
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code: (952) 936-1300
N/A
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Item 2.02. Results of Operations and Financial Condition
On October 14, 2005, UnitedHealth Group Incorporated (the “Company”) issued a press release discussing third quarter 2005 results.
A copy of the press release is furnished herewith as Exhibit 99 and incorporated in this Item 2.02 by reference. The press release
contains forward-looking statements regarding the Company.
To supplement our consolidated financial results as determined by generally accepted accounting principles (GAAP), the press
release also discloses the following non-GAAP information which management believes provides useful information to investors:
Certain account balances and financial measures have been presented in this earnings release excluding our AARP business.
Management believes these disclosures are meaningful since underwriting gains or losses related to the AARP business are recorded
as an increase or decrease to a rate stabilization fund (RSF) and the effects of changes in balance sheet amounts associated with the
AARP program accrue to the overall benefit of the AARP policyholders through the RSF balance. Although the Company is at risk
for underwriting losses to the extent cumulative net losses exceed the balance in the RSF, the Company has not been required to fund
any underwriting deficits to date and management believes the RSF balance is sufficient to cover potential future underwriting or
other risks associated with the contract.
CAUTIONARY STATEMENT FOR PURPOSES OF THE “SAFE HARBOR” PROVISIONS OF THE PRIVATE SECURITIES
LITIGATION REFORM ACT OF 1995
UnitedHealth Group and its representatives may from time to time make written and oral forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995 (PSLRA), including statements in this report, in presentations, press
releases (including the earnings release attached as Exhibit 99 to this report and the earnings conference call described in such
earnings release), filings with the Securities and Exchange Commission, reports to shareholders and in meetings with analysts and
investors. 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:
• 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;
• increased competition and other uncertainties resulting from changes in Medicare laws;
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• 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;
• 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;
• costs associated with compliance with restrictions on patient privacy, including system changes, development of new
administrative processes, and potential noncompliance by our business associates;
• misappropriation of our proprietary technology;
• potential effects of terrorism, including increased use of health care services, disruption of information and payment
systems, and increased health care costs; and
• our anticipated acquisition of PacifiCare Health Systems, Inc. may be delayed or impeded as a result of required
governmental consents, approval by PacifiCare’s stockholders, and other conditions to the merger, which may increase the
costs of the merger and reduce anticipated benefits.
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 and quarterly reports on Form 10-Q. 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.
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Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.
Date: October 14, 2005
UNITEDHEALTH GROUP INCORPORATED
By: /s/ David J. Lubben
David J. Lubben
General Counsel & Secretary
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EXHIBITS
Number Description
99 Press Release, dated October 14, 2005, issued by UnitedHealth Group
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Exhibit 99
NEWS RELEASE
Contacts: John S. Penshorn
Senior Vice President
952-936-7214
Patrick J. Erlandson
Chief Financial Officer
952-936-5901
(For Immediate Release)
UNITEDHEALTH GROUP REPORTS RECORD
THIRD QUARTER NET EARNINGS OF $0.64 PER SHARE
• Revenues for Third Quarter Up 15% to More Than $11.3 Billion
• Services Extended to 500,000 New Consumers
• Operating Margin Expanded to 12.2%
• Earnings Per Share Increased 23%
• Operating Cash Flows of $1.2 Billion, Up 25%
• Return on Equity of 31%
MINNEAPOLIS (October 14, 2005) – UnitedHealth Group (NYSE: UNH) achieved record results in the third quarter of 2005,
reported Chairman and CEO William W. McGuire, M.D. “Third quarter results were driven by strong and diverse growth coupled
with consistent operating performance across the spectrum of UnitedHealth Group businesses. Every reporting segment produced
year-over-year and sequential quarterly advances in operating earnings, and our businesses in the aggregate brought services to yet
another half a million Americans in the past three months.”
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Quarterly Financial Performance
Three Months Ended
September 30, June 30, September 30,
2005 2005 2004
Revenues $11.32 billion $11.11 billion $9.86 billion
Earnings From Operations $ 1.38 billion $ 1.31 billion $1.09 billion
Operating Margin 12.2% 11.8% 11.1%
UnitedHealth Group Highlights
• Third quarter earnings per share of $0.64 grew 23 percent from $0.52 in the third quarter of 2004, and improved 3 cents or
5 percent from the second quarter of 2005.
• Third quarter consolidated net earnings increased to $842 million, up $144 million or 21 percent year-over-year and
$33 million or 4 percent on a sequential quarter basis.
• Consolidated revenues of $11.3 billion increased $1.5 billion or 15 percent year-over-year, and $211 million or 2 percent
from the second quarter of 2005.
• Operating costs were 14.9 percent of revenues in the third quarter, compared to 15.1 percent in the third quarter of 2004 and
14.7 percent in the second quarter of 2005. The year-over-year decline reflects advances in quality and productivity, along
with the benefits of an increase in business scale. The sequential quarterly increase reflects initial consumer education and
operational readiness costs related to the national introduction of the Company’s new Medicare prescription drug plans.
• Earnings from operations increased to $1.4 billion in the third quarter, up $286 million or 26 percent over the prior year, and
up $68 million or 5 percent sequentially.
• Consolidated third quarter operating margin improved to 12.2 percent from 11.1 percent in third quarter 2004 and
11.8 percent in second quarter 2005.
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UnitedHealth Group Highlights – Continued
• Accounts receivable, excluding the AARP programs, were $528 million at September 30, 2005, and continued to represent
less than 5 days sales outstanding.
• Medical costs payable, excluding the AARP programs, increased $259 million or 6 percent year-over-year, standing at
$4.9 billion at September 30, 2005. Medical costs days payable was 64 days for the quarter.
• During the third quarter, the Company realized favorable development of $60 million in its estimates of medical costs
incurred in 2004. Third quarter results also included $70 million in favorable development stemming from the first two
quarters of 2005.
• The income tax rate in the third quarter of 2005 of 36 percent increased 50 basis points sequentially and two percentage
points year-over-year, primarily due to shifts in the relative size of the business in higher tax states, especially in the
northeastern United States.
• Cash flows from operations were $1.2 billion for the third quarter, up 25 percent year-over-year, and reached approximately
$3.7 billion for the first nine months of 2005.
• Available cash on hand reached $470 million at September 30, 2005, as the Company began to set aside funds for debt
redemption related to the proposed PacifiCare merger. The Company also repurchased 4 million shares in the third quarter,
bringing year-to-date shares repurchased and capital deployed to 49 million shares and $2.3 billion, respectively.
• Third quarter 2005 annualized return on equity reached 31 percent.
• The United Health Foundation committed $10 million in the third quarter to fund disaster-related community needs.
Closing Comment
“Our efforts are directed at advancing quality, access, affordability and simplicity in health care systems – and doing so for a wide
array of customers and markets,” stated Dr. McGuire. “We are pleased to see that pursuing better ways to organize health resources,
apply technology and use data – all done through a diverse and responsible group of businesses – is producing positive results for all
concerned parties.
“Our business outlook is favorable. The continued strategic and operating advances we are making, combined with strong organic
growth now being realized as each of our businesses expands their market share, will drive positive performance into 2006. We now
expect full year earnings of $2.48 per share in 2005, a 26 percent advance, and foresee further earnings per share growth in 2006 of
15 percent or more, prior to considering any per share contributions from the launch of our new prescription drug plans for seniors or
the pending PacifiCare merger.”
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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 Financial Performance
Three Months Ended
September 30, June 30, September 30,
2005 2005 2004
Revenues $9.95 billion $9.81 billion $8.71 billion
Earnings From Operations $976 million $944 million $763 million
Operating Margin 9.8% 9.6% 8.8%
Key Developments for Health Care Services
• Revenues for Health Care Services of $10.0 billion grew $1.2 billion in the third quarter – a 14 percent year-over-year
increase and a gain of $142 million or 1 percent sequentially.
• Third quarter Health Care Services operating earnings of $976 million increased $213 million or 28 percent year-over-year.
On a sequential quarter basis, operating earnings increased $32 million or 3 percent, as improved performance from
AmeriChoice and continued gains from business growth at UnitedHealthcare and Ovations more than offset increased
marketing and administrative cost investments associated with introducing Medicare prescription drug plans at Ovations.
• Third quarter operating margin of 9.8 percent expanded 100 basis points year-over-year and 20 basis points sequentially.
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Key Developments for Health Care Services – Continued
• Third quarter revenues of $6.8 billion for UnitedHealthcare increased $836 million or 14 percent year-over-year and $78
million or 1 percent sequentially.
• UnitedHealthcare served 11.4 million people as of September 30, 2005, an increase of 460,000 individuals year to date,
including an increase of 265,000 individuals in the third quarter of 2005. Third quarter results were highlighted by strong
internal growth of 135,000 people and supplemented by the September 19, 2005 acquisition of Neighborhood Health
Partnership in Miami, Florida.
• UnitedHealthcare’s third quarter 2005 commercial medical care ratio of 78.0 percent compared favorably to the ratio of 78.6
percent in both the second quarter of 2005 and the third quarter of 2004.
• AmeriChoice third quarter revenues of $843 million increased $48 million or 6 percent year-over-year.
• AmeriChoice membership of approximately 1.2 million people is essentially flat year-over-year, as organic growth in people
served was offset by a membership reduction related to its withdrawal from the Illinois market during the third quarter.
• Ovations reported revenues of $2.3 billion in the third quarter, up $358 million or 18 percent year-over-year and $65 million
or 3 percent from second quarter 2005.
• Ovations increased its Medicare Advantage health plan enrollment by 20,000 people in the third quarter, bringing year-to-
date growth to 45,000 people and the year-over-year increase to 60,000 people – a 19 percent gain.
• During the third quarter, the Centers for Medicare and Medicaid Services (CMS) awarded its approval to Ovations to offer
Medicare prescription drug plans across all 50 states and all U.S. territories.
• The lead drug plan offering from Ovations, the AARP MedicareRx plan, is priced below the market average price in 33 of
the 34 designated program regions, qualifying the business to receive an estimated 650,000 seniors by direct federal
assignment for January 1, 2006.
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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 Financial Performance
Three Months Ended
September 30, June 30, September 30,
2005 2005 2004
Revenues $969 million $962 million $842 million
Earnings From Operations $205 million $198 million $171 million
Operating Margin 21.2% 20.6% 20.3%
Key Developments
• Third quarter revenues of $969 million increased $127 million or 15 percent over third quarter 2004 and $7 million or 1
percent sequentially.
• Uniprise serves more than 10.5 million people in the national multilocation employer segment, having increased its
membership by 630,000 people in the first nine months of 2005. The total number of people served declined by 35,000 in
the third quarter, a 0.3 percent sequential decrease, due to employment attrition.
• Uniprise earnings from operations of $205 million grew $34 million or 20 percent year-over-year, as revenue expansion
outpaced increases in operating costs. On a sequential quarter basis, earnings from operations improved $7 million or 4
percent, as the operating margin reached 21.2 percent, expanding 90 basis points year-over-year and 60 basis points from
second quarter 2005.
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Business Description
Specialized Care Services offers a comprehensive array of specialized benefits, networks, services and resources to help consumers
improve their health and well-being.
Quarterly Financial Performance
Three Months Ended
September 30, June 30, September 30,
2005 2005 2004
Revenues $728 million $678 million $580 million
Earnings From Operations $148 million $139 million $124 million
Operating Margin 20.3% 20.5% 21.4%
Key Developments
• Third quarter revenues rose to $728 million, up $148 million or 26 percent year-over-year, and up $50 million or 7 percent
from the second quarter of 2005, driven by strong customer growth and business expansion across the portfolio of
Specialized Care Services companies.
• In the third quarter, earnings from operations of $148 million increased $24 million or 19 percent year-over-year and
$9 million or 6 percent sequentially.
• The Specialized Care Services operating margin of 20.3 percent decreased 110 basis points year-over-year and 20 basis
points from the second quarter of 2005, as revenue gains from comparatively lower margin dental benefit products changed
the overall mix of business for the segment.
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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 Financial Performance
Three Months Ended
September 30, June 30, September 30,
2005 2005 2004
Revenues $205 million $175 million $170 million
Earnings From Operations $ 49 million $ 29 million $ 34 million
Operating Margin 23.9% 16.6% 20.0%
Key Developments
• Ingenix revenues increased $35 million, or 21 percent year-over-year, to $205 million in the third quarter of 2005.
• The Ingenix contract revenue backlog grew 25 percent year-over-year, due to strong customer demand for software products
that enable payers, employers and other intermediaries to obtain a detailed understanding of medical costs and trends,
software tools that improve business operations for medical service providers, and consulting and outsourced services.
• During the third quarter, the U.S. Food and Drug Administration announced it will utilize Ingenix i3 Aperio™ software and
analytic consulting services to help improve the effectiveness and speed of safety evaluations for pharmaceutical agents that
have been approved for use in the U.S. market.
• Ingenix earnings from operations increased $15 million, or 44 percent year-over-year, and the operating margin increased to
23.9 percent, up 390 basis points from third quarter 2004, due to strong contribution margins on consulting services and
software product sales, as well as focused operating cost disciplines across its businesses.
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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 more than 55 million individuals nationwide.
Forward-Looking Statements
This news release may contain statements, estimates or projections 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. By their nature, forward-looking
statements are subject to risks and uncertainties that could cause actual results to differ materially from our historical experience and
our present expectations or projections. A list and description of some of the 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. 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.
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 # 9434578. This earnings release and the Form 8-K dated October 14, 2005, which may also be accessed in the Investor
Information section of the Company’s Web site, include a reconciliation of non-GAAP financial measures.
###
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UNITEDHEALTH GROUP
Earnings Release Schedules and Supplementary Information
Quarter Ended September 30, 2005
• Consolidated Statements of Operations
• Condensed Consolidated Balance Sheets
• Condensed Consolidated Statements of Cash Flows
• Segment Financial Information
• Customer Profile Summary
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UNITEDHEALTH GROUP
CONSOLIDATED STATEMENTS OF OPERATIONS
(in millions, except per share data)
(unaudited)
Three Months Ended Nine Months Ended
September 30, September 30,
2005 2004 2005 2004
REVENUES
Premiums $10,245 $ 8,920 $30,178 $23,985
Services 942 842 2,764 2,444
Investment and Other Income 135 97 378 278
Total Revenues 11,322 9,859 33,320 26,707
COSTS
Medical Costs 8,138 7,180 24,101 19,375
Operating Costs 1,690 1,488 4,942 4,151
Depreciation and Amortization 116 99 333 268
Total Costs 9,944 8,767 29,376 23,794
1,378 1,092 3,944 2,913
EARNINGS FROM OPERATIONS
Interest Expense (62) (34) (166) (86)
1,316 1,058 3,778 2,827
EARNINGS BEFORE INCOME TAXES
Provision for Income Taxes (474) (360) (1,348) (979)
$ 842 $ 698 $ 2,430 $ 1,848
NET EARNINGS
$ 0.67 $ 0.55 $ 1.92 $ 1.50
BASIC NET EARNINGS PER COMMON SHARE
$ 0.64 $ 0.52 $ 1.83 $ 1.43
DILUTED NET EARNINGS PER COMMON SHARE
Diluted Weighted-Average Common Shares Outstanding 1,319 1,341 1,327 1,295
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UNITEDHEALTH GROUP
CONDENSED CONSOLIDATED BALANCE SHEETS
(in millions)
(unaudited)
September 30, December 31,
2005 2004
ASSETS
Cash and Short-Term Investments $ 5,493 $ 4,505
Accounts Receivable, net 941 906
Other Current Assets 2,818 2,830
Total Current Assets 9,252 8,241
Long-Term Investments 8,235 7,748
Other Long-Term Assets 12,209 11,890
Total Assets $ 29,696 $ 27,879
LIABILITIES AND SHAREHOLDERS’ EQUITY
Medical Costs Payable $ 5,888 $ 5,540
Commercial Paper and Current Maturities of Long-Term Debt 631 673
Other Current Liabilities 5,510 5,116
Total Current Liabilities 12,029 11,329
Long-Term Debt, less current maturities 3,850 3,350
Future Policy Benefits for Life and Annuity Contracts 1,750 1,669
Deferred Income Taxes and Other Liabilities 838 814
Shareholders’ Equity 11,229 10,717
Total Liabilities and Shareholders’ Equity $ 29,696 $ 27,879
The table below summarizes certain balance sheet data excluding AARP related amounts:
September 30, December 31,
2005 2004
Accounts Receivable, net $ 528 $ 517
Other Current Assets $ 1,066 $ 947
Other Current Liabilities $ 4,321 $ 3,743
Medical Costs Payable $ 4,912 $ 4,641
Days Medical Costs in Medical Costs Payable 64 64
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UNITEDHEALTH GROUP
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in millions)
(unaudited)
Nine Months Ended
September 30,
2005 2004
Operating Activities
Net Earnings $ 2,430 $ 1,848
Noncash Items:
Depreciation and amortization 333 268
Deferred income taxes and other 60 25
Net changes in operating assets and liabilities 871 744
Cash Flows From Operating Activities 3,694 2,885
Investing Activities
Cash paid for acquisitions, net of cash assumed (286) (1,912)
Purchases of property, equipment and capitalized software (367) (240)
Net sales and maturities/(purchases) of investments (349) 344
Cash Flows Used For Investing Activities (1,002) (1,808)
Financing Activities
Common stock repurchases (2,380) (2,098)
Net change in commercial paper and debt 458 1,921
Other, net 416 473
Cash Flows (Used For) From Financing Activities (1,506) 296
Increase in cash and cash equivalents 1,186 1,373
Cash and cash equivalents, beginning of period 3,991 2,262
Cash and cash equivalents, end of period $ 5,177 $ 3,635
Supplemental Schedule of Noncash Investing Activities:
Common Stock Issued for Acquisitions $ — $ 5,557
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UNITEDHEALTH GROUP
SEGMENT FINANCIAL INFORMATION
(in millions)
(unaudited)
REVENUES
Three Months Ended Nine Months Ended
September 30, September 30,
2005 2004 2005 2004
UnitedHealthcare $ 6,772 $ 5,936 $20,072 $15,519
Ovations 2,339 1,981 6,808 5,535
AmeriChoice 843 795 2,514 2,296
Health Care Services 9,954 8,712 29,394 23,350
Uniprise 969 842 2,872 2,520
Specialized Care Services 728 580 2,053 1,707
Ingenix 205 170 546 456
Corporate and eliminations (534) (445) (1,545) (1,326)
Total Consolidated $ 11,322 $ 9,859 $33,320 $26,707
EARNINGS FROM OPERATIONS
Three Months Ended Nine Months Ended
September 30, September 30,
2005 2004 2005 2004
Health Care Services $ 976 $ 763 $ 2,830 $ 1,976
Uniprise 205 171 592 508
Specialized Care Services 148 124 420 356
Ingenix 49 34 102 73
Total Consolidated $ 1,378 $ 1,092 $ 3,944 $ 2,913
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UNITEDHEALTH GROUP
CUSTOMER PROFILE SUMMARY
(in thousands)
(unaudited)
September June December September
Customer Profile 2005 (a) 2005 2004 2004
Commercial Businesses
Risk-based 11,785 11,530 10,820 10,595
Fee-based 16,750 16,665 15,525 15,265
7,190 7,075 7,035 6,890
Federal, State, and Municipal Governments
1,555 1,540 1,455 1,450
Individual Consumers
19,745 19,715 19,005 19,025
Business-to-Business
57,025 56,525 53,840 53,225
Grand Total
1,060 1,005 560 235
Consumer-directed health plans (included above)
(a) Includes 130,000 individuals served by Neighborhood Health Partnership, which was acquired in September 2005.
Supplemental Segment Profile—Health Care Services and Uniprise
September June December September
2005 (a) 2005 2004 2004
Health Care Services:
Risk-based commercial 7,805 7,700 7,655 7,635
Fee-based commercial 3,615 3,455 3,305 3,200
Medicare 375 355 330 315
Medicaid 1,230 1,265 1,260 1,240
Total Health Care Services 13,025 12,775 12,550 12,390
Uniprise 10,505 10,540 9,875 9,565