UnitedHealth Group reported its first quarter 2008 financial results. Key highlights include:
- Revenues increased 7% to $20.3 billion compared to the prior year.
- Net earnings per share increased 5% to $0.78 compared to the prior year.
- The company served 73 million people, an increase of 2 million from the prior year.
- Full year 2008 net earnings are projected to be in the range of $3.55 to $3.60 per share.
United Health Group[PDF Document] Form 8-K Related to Earnings Releasefinance3
UnitedHealth Group reported its third quarter 2007 results. Key highlights included:
- Net earnings of $0.95 per share, up 19% year-over-year.
- Operating margin expanded 110 basis points to 11.5%.
- Consolidated medical care ratio improved to 79.5%.
- Adjusted operating cash flows grew 14% to $2.1 billion.
- Company expects 2007 earnings of $3.49-$3.50 per share and 2008 earnings of $3.95-$4.00 per share.
UnitedHealth Group reported first quarter 2009 financial results. Revenues increased 8% year-over-year to $22 billion. Earnings from operations were $1.67 billion. Net earnings were $984 million, stable compared to the prior year. The operating margin decreased to 7.6% due to reduced investment income and a change in business mix toward lower margin government business. UnitedHealth continues to project full year 2009 net earnings between $2.90 to $3.15 per share.
United Health Group [PDF Document] Form 8-K Related to Preliminary Earnings R...finance3
This document is a SEC 8-K filing by UnitedHealth Group announcing their second quarter 2007 results. Some key highlights include revenues of $18.93 billion, operating earnings of $2.03 billion resulting in an operating margin of 10.7%, and net earnings of $1.197 billion or $0.87 per share, a 24% increase over the prior year. Health Care Services revenues were $16.98 billion with operating earnings of $1.57 billion and an operating margin of 9.2%, and Uniprise revenues were $1.41 billion with operating earnings of $201 million and an operating margin of 14.3%.
United Health Group[PDF Document] Form 8-K Related to Earnings Releasefinance3
UnitedHealth Group reported its second quarter 2008 results. Key points:
- Revenues increased 7% year-over-year to $20.3 billion. People served grew by 2 million to 73 million.
- Adjusted operating margin was 7.2%, down from 10.9% in the prior year. Adjusted net earnings were $0.67 per share, down 25% from the prior year.
- The company continues to expect full-year 2008 adjusted net earnings per share of $2.95-$3.05 and adjusted cash flows from operations of approximately $5 billion.
The document is a Form 8-K filed by CC Media Holdings, Inc. with the SEC reporting second quarter 2008 financial results. It summarizes that CC Media Holdings reported a 2% increase in revenue to $1.83 billion for Q2 2008 compared to Q2 2007. Operating expenses increased 6% to $1.19 billion, and income before discontinued operations increased 28% to $277.3 million. CC Media Holdings also provided updates on its acquisition of Clear Channel which closed on July 30, 2008, the divestiture of non-core radio stations, revenue and expenses by division, and non-cash compensation expense.
- CC Media Holdings reported financial results for Q4 2008 and full year 2008. Revenue declined 14% to $1.6 billion in Q4 2008 and 3% to $6.7 billion for the full year.
- The company recognized a non-cash impairment charge of $5.3 billion in Q4 2008, consisting of $1.7 billion for FCC licenses and permits and $3.6 billion for goodwill.
- OIBDAN (operating income before depreciation and amortization) declined 50% to $309 million in Q4 2008 and 21% to $1.8 billion for the full year, as revenues declined across most divisions and markets due to weak advertising spending
- Cubist Pharmaceuticals reported a 37% increase in total net revenues to $121.1 million for the first quarter of 2009 compared to $88.3 million for the same period in 2008.
- Net income on a GAAP basis was $7.8 million, or $0.14 and $0.13 per basic and diluted share respectively, compared to $9.7 million, or $0.17 per basic and diluted share for Q1 2008.
- Non-GAAP net income was $27.2 million, or $0.47 and $0.42 per basic and diluted share respectively, an increase of $9.0 million over the same period last year
United Health Group [PDF Document] Form 8-K Related to Earnings Releasefinance3
This document is a SEC filing by UnitedHealth Group reporting their financial results for the fourth quarter and full year of 2004. Some key highlights include:
- Fourth quarter revenues of $10.51 billion, up 40% year-over-year. Full year revenues of $37.22 billion, up 29%.
- Fourth quarter earnings from operations of $1.19 billion, up 47% year-over-year. Full year earnings from operations of $4.10 billion, up 40%.
- Fourth quarter earnings per share of $1.09, up 31% year-over-year. Full year earnings per share of $3.94, up 33%.
- Cash flows from operations for the
United Health Group[PDF Document] Form 8-K Related to Earnings Releasefinance3
UnitedHealth Group reported its third quarter 2007 results. Key highlights included:
- Net earnings of $0.95 per share, up 19% year-over-year.
- Operating margin expanded 110 basis points to 11.5%.
- Consolidated medical care ratio improved to 79.5%.
- Adjusted operating cash flows grew 14% to $2.1 billion.
- Company expects 2007 earnings of $3.49-$3.50 per share and 2008 earnings of $3.95-$4.00 per share.
UnitedHealth Group reported first quarter 2009 financial results. Revenues increased 8% year-over-year to $22 billion. Earnings from operations were $1.67 billion. Net earnings were $984 million, stable compared to the prior year. The operating margin decreased to 7.6% due to reduced investment income and a change in business mix toward lower margin government business. UnitedHealth continues to project full year 2009 net earnings between $2.90 to $3.15 per share.
United Health Group [PDF Document] Form 8-K Related to Preliminary Earnings R...finance3
This document is a SEC 8-K filing by UnitedHealth Group announcing their second quarter 2007 results. Some key highlights include revenues of $18.93 billion, operating earnings of $2.03 billion resulting in an operating margin of 10.7%, and net earnings of $1.197 billion or $0.87 per share, a 24% increase over the prior year. Health Care Services revenues were $16.98 billion with operating earnings of $1.57 billion and an operating margin of 9.2%, and Uniprise revenues were $1.41 billion with operating earnings of $201 million and an operating margin of 14.3%.
United Health Group[PDF Document] Form 8-K Related to Earnings Releasefinance3
UnitedHealth Group reported its second quarter 2008 results. Key points:
- Revenues increased 7% year-over-year to $20.3 billion. People served grew by 2 million to 73 million.
- Adjusted operating margin was 7.2%, down from 10.9% in the prior year. Adjusted net earnings were $0.67 per share, down 25% from the prior year.
- The company continues to expect full-year 2008 adjusted net earnings per share of $2.95-$3.05 and adjusted cash flows from operations of approximately $5 billion.
The document is a Form 8-K filed by CC Media Holdings, Inc. with the SEC reporting second quarter 2008 financial results. It summarizes that CC Media Holdings reported a 2% increase in revenue to $1.83 billion for Q2 2008 compared to Q2 2007. Operating expenses increased 6% to $1.19 billion, and income before discontinued operations increased 28% to $277.3 million. CC Media Holdings also provided updates on its acquisition of Clear Channel which closed on July 30, 2008, the divestiture of non-core radio stations, revenue and expenses by division, and non-cash compensation expense.
- CC Media Holdings reported financial results for Q4 2008 and full year 2008. Revenue declined 14% to $1.6 billion in Q4 2008 and 3% to $6.7 billion for the full year.
- The company recognized a non-cash impairment charge of $5.3 billion in Q4 2008, consisting of $1.7 billion for FCC licenses and permits and $3.6 billion for goodwill.
- OIBDAN (operating income before depreciation and amortization) declined 50% to $309 million in Q4 2008 and 21% to $1.8 billion for the full year, as revenues declined across most divisions and markets due to weak advertising spending
- Cubist Pharmaceuticals reported a 37% increase in total net revenues to $121.1 million for the first quarter of 2009 compared to $88.3 million for the same period in 2008.
- Net income on a GAAP basis was $7.8 million, or $0.14 and $0.13 per basic and diluted share respectively, compared to $9.7 million, or $0.17 per basic and diluted share for Q1 2008.
- Non-GAAP net income was $27.2 million, or $0.47 and $0.42 per basic and diluted share respectively, an increase of $9.0 million over the same period last year
United Health Group [PDF Document] Form 8-K Related to Earnings Releasefinance3
This document is a SEC filing by UnitedHealth Group reporting their financial results for the fourth quarter and full year of 2004. Some key highlights include:
- Fourth quarter revenues of $10.51 billion, up 40% year-over-year. Full year revenues of $37.22 billion, up 29%.
- Fourth quarter earnings from operations of $1.19 billion, up 47% year-over-year. Full year earnings from operations of $4.10 billion, up 40%.
- Fourth quarter earnings per share of $1.09, up 31% year-over-year. Full year earnings per share of $3.94, up 33%.
- Cash flows from operations for the
This document is an 8-K filing by Lakeland Financial Corporation announcing its earnings for the first quarter of 2009. Net income was $3.9 million compared to $5.2 million for the same period in 2008. The company also maintained its quarterly dividend of $0.155 per share. Average total loans increased 18% year-over-year and net interest income grew 17% driven by loan growth. However, provisions for loan losses also increased due to higher charge-offs and economic conditions. Non-interest income declined due to mortgage servicing impairment, while non-interest expense rose 11% primarily from increased regulatory and legal expenses.
This document is Visteon Corporation's annual report (Form 10-K/A) filed with the SEC, which provides an amendment and restatement of Visteon's annual report for the year ended December 31, 2003. The restatement is primarily due to corrections made for retiree healthcare benefits, tooling costs, volume rebates, inventory costs, pension expenses, and tax adjustments. The restatement increased Visteon's reported net loss for 2003 by approximately $80 million. The annual report provides an overview of Visteon's business, including information on its automotive operations and glass operations segments, and discusses trends in the automotive parts industry.
This document is a quarterly report filed with the SEC by Northern States Power Company (NSP-Minnesota) and several subsidiaries. It summarizes financial results for the third quarter and first nine months of 2002, including operating revenues of $752 million and $2.1 billion respectively. Net income was $83 million for the quarter and $158 million year-to-date. The report provides income statements, cash flow statements, and notes on special charges and the number of outstanding shares of common stock for each subsidiary.
- Kennametal Inc. filed an 8-K form with the SEC on April 24, 2009 regarding its financial results for the fiscal third quarter ended March 31, 2009.
- The filing included a press release containing non-GAAP financial measures and definitions of those measures, including adjusted gross profit, operating expenses, EBIT, and free operating cash flow.
- Reconciliations of the non-GAAP measures to the most comparable GAAP measures were provided in the press release or compiled as required by Regulation G.
The document is a SEC Form 10-Q quarterly report filed by four companies: Northern States Power Co. (a Minnesota corporation), Northern States Power Co. (a Wisconsin corporation), Public Service Co. of Colorado, and Southwestern Public Service Co. It provides consolidated financial statements and notes for the first quarter ended March 31, 2003, including statements of income, cash flows, and balance sheets for NSP-Minnesota and NSP-Wisconsin. Key details include NSP-Minnesota reporting $44 million in net income on $927 million in revenues, and NSP-Wisconsin reporting $19.8 million in net income on $185 million in revenues.
First Commonwealth Financial Corporation reported financial results for the first quarter of 2009. Core net income decreased 25.1% from the first quarter of 2008 to $8.1 million due to an increase in provisions for credit losses and higher expenses, partly offset by higher net interest income and lower taxes. Net charge-offs increased to $19.5 million in the first quarter. Non-performing loans decreased $26.9 million. First Commonwealth recognized $9.9 million in impairment losses relating to trust preferred securities and bank equity securities.
Glacier Bancorp reported net earnings of $15.779 million for the first quarter of 2009, a decrease of 9% from the same quarter last year. Total assets increased 15% to $5.581 billion from March 31, 2008. Net interest income increased 24% to $60.378 million compared to the first quarter of 2008. The efficiency ratio improved to 51% for the quarter from 55% in the first quarter of 2008.
MB Financial reported its results for the second quarter of 2009. Net income was $4.3 million, down from $22 million in the second quarter of 2008. Credit quality deteriorated, with non-performing loans decreasing slightly to $227.7 million but non-performing assets increasing to $245 million. The allowance for loan losses was increased to 2.86% of total loans. Net interest income increased by $3.3 million due to an improved net interest margin from loan repricing and lower funding costs. Other income decreased by $3.6 million primarily due to lower gains on the sale of investment securities.
1) Sandy Spring Bancorp reported net income of $1.0 million for Q1 2009, down from $8.2 million in Q1 2008.
2) The provision for loan and lease losses was $10.6 million for Q1 2009 due to risk rating downgrades and specific reserves for residential real estate development loans.
3) Noninterest expenses decreased 2% from Q1 2008 and customer funding sources increased 8% from both Q1 and Q4 2008 due to growth in money market accounts.
Clear Channel Communications reported financial results for the fourth quarter and full year of 2007. Revenue increased 4% to $1.84 billion for Q4 2007 and 6% to $6.82 billion for the full year. Net income increased 22% to $223.6 million for Q4 and 36% to $938.5 million for the full year. Diluted earnings per share were $0.45 for Q4 2007, up 22%, and a record $1.89 for the full year, up 37%. The company also reported progress on plans to divest its television and non-core radio assets.
The document is an 8-K filing by Xilinx Inc. reporting their financial results for the first quarter of fiscal year 2010:
- Sales were $376 million, down 5% sequentially and 23% from the prior year.
- Net income was $38 million, or $0.14 per diluted share.
- For the second quarter, Xilinx expects sales to increase 2-6% and gross margin to be around 61%.
- The company continues to invest in new FPGA development to drive future growth.
This document is NSP-Minnesota's Form 10-Q quarterly report filed with the SEC for the third quarter of 1997. It includes:
1) Consolidated financial statements for NSP-Minnesota including statements of income and cash flows for the three and nine month periods ended September 30, 1997 showing revenues, expenses, and net income.
2) Notes to the consolidated financial statements providing additional details.
3) Management's discussion and analysis of the financial condition and results of operations.
4) Disclosures regarding legal proceedings and exhibits and reports filed with the SEC.
The report provides NSP-Minnesota's required quarterly financial disclosures and analysis to the SEC
The document summarizes long-term fiscal sustainability reporting in the U.S., including the timeline of reporting, types of projections provided, and illustrative charts and tables. Key developments include unaudited social insurance reporting starting in 1999, audited Statements of Social Insurance beginning in 2006, and comprehensive long-term fiscal projections reporting starting in 2010 on a unaudited basis and becoming audited in 2013. Projections provided include 75-year present values of receipts and spending, fiscal gaps, and alternative scenarios. Charts and tables illustrate historical and projected trends in receipts, spending, debt, and their composition through 2086 under current policy assumptions.
MGIC Investment Corporation reported financial results for Q2 2009 with a net loss of $339.8 million compared to a net loss of $99.9 million in Q2 2008. Total revenues were $454.5 million. New insurance written was $5.9 billion, down from $14 billion in Q2 2008. The percentage of loans delinquent was 12.04% excluding bulk loans and 14.97% including bulk loans, both up significantly from the prior year. Losses incurred were $769.6 million, up from $688.1 million in the previous year.
This document is the SEC Form 10-K annual report filed by Foundation Health Systems, Inc. for the fiscal year ended December 31, 1998. It provides an overview of FHS's business operations, including that it operates as an integrated managed care organization through subsidiaries in two segments: Health Plan Services and Government Contracts/Specialty Services. It details the regional divisions within Health Plan Services and provides membership numbers. It also notes that FHS is evaluating the profitability of its businesses and operations with the goal of focusing resources on core businesses and divesting lesser-performing operations.
This document is PACCAR Inc's quarterly report on Form 10-Q for the period ending March 31, 2005. It provides condensed financial statements and notes for the company, including consolidated statements of income and cash flows for the quarters ending March 31, 2005 and 2004, and consolidated balance sheets as of March 31, 2005 and December 31, 2004. It also provides information on accounting policies, inventory valuations, and product support liabilities.
This document is Aetna Inc.'s quarterly report filed with the SEC for the quarter ended March 31, 2005. It provides financial statements and disclosures for the period. Specifically, it includes the consolidated statements of income, balance sheets, shareholders' equity, and cash flows for the quarters ended March 31, 2005 and 2004. It also provides notes to the financial statements and disclosures on the company's business segments, accounting policies, and recent acquisitions. The financial statements show increased revenues and net income compared to the prior year period.
This document is a Form 10-Q quarterly report filed by Northern States Power Company (NSP-Minnesota) with the Securities and Exchange Commission (SEC). It summarizes NSP-Minnesota's financial performance for the third quarter and first nine months of 2003, including operating revenues, expenses, income from operations, other income and expenses, interest charges, income taxes and net income. It also lists members of NSP-Minnesota's board of directors and provides additional notes to the financial statements.
United Health GroupForm 8-K Related to Earnings Releasefinance3
UnitedHealth Group reported strong third quarter 2007 results, with net earnings per share of $0.95, up 19% year-over-year. Operating margins expanded 110 basis points to 11.5% due to margin gains in the Health Care Services segment. Medical costs ratios improved across all business segments. UnitedHealth Group expects full year 2007 earnings of $3.49-$3.50 per share and 2008 earnings of $3.95-$4.00 per share.
United Health Group [PDF Document] Form 8-K Related to Earnings Releasefinance3
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.
United Health Group UnitedHealth Group Financial Reviewfinance3
UnitedHealth Group reported strong financial results in 2003 with revenues increasing 15% to $28.8 billion and earnings from operations growing 34% to $2.9 billion. Net earnings grew 35% to $1.8 billion resulting in diluted EPS of $2.96. The results were driven by revenue growth across all business segments, improved margins on risk-based products, and a shift toward higher-margin fee-based services. Looking ahead, the company expects continued growth from increasing premium rates, expanding into new geographies and services, and pursuing additional acquisitions.
United Health Group Reconciliation of Non-GAAP Financial Measuresfinance3
UnitedHealth Group provided a reconciliation of non-GAAP measures to explain their use of operating results excluding special items and adjusted cash flows from operating activities, which are not calculated in accordance with GAAP. For the quarter and full year ended December 31, 2008, special items excluded from operating results included costs related to legal settlements. Adjusted cash flows excluded payments for legal settlements to determine a ratio of cash flows to adjusted net earnings. Management believes the non-GAAP measures improve comparability of results over periods.
This document is an 8-K filing by Lakeland Financial Corporation announcing its earnings for the first quarter of 2009. Net income was $3.9 million compared to $5.2 million for the same period in 2008. The company also maintained its quarterly dividend of $0.155 per share. Average total loans increased 18% year-over-year and net interest income grew 17% driven by loan growth. However, provisions for loan losses also increased due to higher charge-offs and economic conditions. Non-interest income declined due to mortgage servicing impairment, while non-interest expense rose 11% primarily from increased regulatory and legal expenses.
This document is Visteon Corporation's annual report (Form 10-K/A) filed with the SEC, which provides an amendment and restatement of Visteon's annual report for the year ended December 31, 2003. The restatement is primarily due to corrections made for retiree healthcare benefits, tooling costs, volume rebates, inventory costs, pension expenses, and tax adjustments. The restatement increased Visteon's reported net loss for 2003 by approximately $80 million. The annual report provides an overview of Visteon's business, including information on its automotive operations and glass operations segments, and discusses trends in the automotive parts industry.
This document is a quarterly report filed with the SEC by Northern States Power Company (NSP-Minnesota) and several subsidiaries. It summarizes financial results for the third quarter and first nine months of 2002, including operating revenues of $752 million and $2.1 billion respectively. Net income was $83 million for the quarter and $158 million year-to-date. The report provides income statements, cash flow statements, and notes on special charges and the number of outstanding shares of common stock for each subsidiary.
- Kennametal Inc. filed an 8-K form with the SEC on April 24, 2009 regarding its financial results for the fiscal third quarter ended March 31, 2009.
- The filing included a press release containing non-GAAP financial measures and definitions of those measures, including adjusted gross profit, operating expenses, EBIT, and free operating cash flow.
- Reconciliations of the non-GAAP measures to the most comparable GAAP measures were provided in the press release or compiled as required by Regulation G.
The document is a SEC Form 10-Q quarterly report filed by four companies: Northern States Power Co. (a Minnesota corporation), Northern States Power Co. (a Wisconsin corporation), Public Service Co. of Colorado, and Southwestern Public Service Co. It provides consolidated financial statements and notes for the first quarter ended March 31, 2003, including statements of income, cash flows, and balance sheets for NSP-Minnesota and NSP-Wisconsin. Key details include NSP-Minnesota reporting $44 million in net income on $927 million in revenues, and NSP-Wisconsin reporting $19.8 million in net income on $185 million in revenues.
First Commonwealth Financial Corporation reported financial results for the first quarter of 2009. Core net income decreased 25.1% from the first quarter of 2008 to $8.1 million due to an increase in provisions for credit losses and higher expenses, partly offset by higher net interest income and lower taxes. Net charge-offs increased to $19.5 million in the first quarter. Non-performing loans decreased $26.9 million. First Commonwealth recognized $9.9 million in impairment losses relating to trust preferred securities and bank equity securities.
Glacier Bancorp reported net earnings of $15.779 million for the first quarter of 2009, a decrease of 9% from the same quarter last year. Total assets increased 15% to $5.581 billion from March 31, 2008. Net interest income increased 24% to $60.378 million compared to the first quarter of 2008. The efficiency ratio improved to 51% for the quarter from 55% in the first quarter of 2008.
MB Financial reported its results for the second quarter of 2009. Net income was $4.3 million, down from $22 million in the second quarter of 2008. Credit quality deteriorated, with non-performing loans decreasing slightly to $227.7 million but non-performing assets increasing to $245 million. The allowance for loan losses was increased to 2.86% of total loans. Net interest income increased by $3.3 million due to an improved net interest margin from loan repricing and lower funding costs. Other income decreased by $3.6 million primarily due to lower gains on the sale of investment securities.
1) Sandy Spring Bancorp reported net income of $1.0 million for Q1 2009, down from $8.2 million in Q1 2008.
2) The provision for loan and lease losses was $10.6 million for Q1 2009 due to risk rating downgrades and specific reserves for residential real estate development loans.
3) Noninterest expenses decreased 2% from Q1 2008 and customer funding sources increased 8% from both Q1 and Q4 2008 due to growth in money market accounts.
Clear Channel Communications reported financial results for the fourth quarter and full year of 2007. Revenue increased 4% to $1.84 billion for Q4 2007 and 6% to $6.82 billion for the full year. Net income increased 22% to $223.6 million for Q4 and 36% to $938.5 million for the full year. Diluted earnings per share were $0.45 for Q4 2007, up 22%, and a record $1.89 for the full year, up 37%. The company also reported progress on plans to divest its television and non-core radio assets.
The document is an 8-K filing by Xilinx Inc. reporting their financial results for the first quarter of fiscal year 2010:
- Sales were $376 million, down 5% sequentially and 23% from the prior year.
- Net income was $38 million, or $0.14 per diluted share.
- For the second quarter, Xilinx expects sales to increase 2-6% and gross margin to be around 61%.
- The company continues to invest in new FPGA development to drive future growth.
This document is NSP-Minnesota's Form 10-Q quarterly report filed with the SEC for the third quarter of 1997. It includes:
1) Consolidated financial statements for NSP-Minnesota including statements of income and cash flows for the three and nine month periods ended September 30, 1997 showing revenues, expenses, and net income.
2) Notes to the consolidated financial statements providing additional details.
3) Management's discussion and analysis of the financial condition and results of operations.
4) Disclosures regarding legal proceedings and exhibits and reports filed with the SEC.
The report provides NSP-Minnesota's required quarterly financial disclosures and analysis to the SEC
The document summarizes long-term fiscal sustainability reporting in the U.S., including the timeline of reporting, types of projections provided, and illustrative charts and tables. Key developments include unaudited social insurance reporting starting in 1999, audited Statements of Social Insurance beginning in 2006, and comprehensive long-term fiscal projections reporting starting in 2010 on a unaudited basis and becoming audited in 2013. Projections provided include 75-year present values of receipts and spending, fiscal gaps, and alternative scenarios. Charts and tables illustrate historical and projected trends in receipts, spending, debt, and their composition through 2086 under current policy assumptions.
MGIC Investment Corporation reported financial results for Q2 2009 with a net loss of $339.8 million compared to a net loss of $99.9 million in Q2 2008. Total revenues were $454.5 million. New insurance written was $5.9 billion, down from $14 billion in Q2 2008. The percentage of loans delinquent was 12.04% excluding bulk loans and 14.97% including bulk loans, both up significantly from the prior year. Losses incurred were $769.6 million, up from $688.1 million in the previous year.
This document is the SEC Form 10-K annual report filed by Foundation Health Systems, Inc. for the fiscal year ended December 31, 1998. It provides an overview of FHS's business operations, including that it operates as an integrated managed care organization through subsidiaries in two segments: Health Plan Services and Government Contracts/Specialty Services. It details the regional divisions within Health Plan Services and provides membership numbers. It also notes that FHS is evaluating the profitability of its businesses and operations with the goal of focusing resources on core businesses and divesting lesser-performing operations.
This document is PACCAR Inc's quarterly report on Form 10-Q for the period ending March 31, 2005. It provides condensed financial statements and notes for the company, including consolidated statements of income and cash flows for the quarters ending March 31, 2005 and 2004, and consolidated balance sheets as of March 31, 2005 and December 31, 2004. It also provides information on accounting policies, inventory valuations, and product support liabilities.
This document is Aetna Inc.'s quarterly report filed with the SEC for the quarter ended March 31, 2005. It provides financial statements and disclosures for the period. Specifically, it includes the consolidated statements of income, balance sheets, shareholders' equity, and cash flows for the quarters ended March 31, 2005 and 2004. It also provides notes to the financial statements and disclosures on the company's business segments, accounting policies, and recent acquisitions. The financial statements show increased revenues and net income compared to the prior year period.
This document is a Form 10-Q quarterly report filed by Northern States Power Company (NSP-Minnesota) with the Securities and Exchange Commission (SEC). It summarizes NSP-Minnesota's financial performance for the third quarter and first nine months of 2003, including operating revenues, expenses, income from operations, other income and expenses, interest charges, income taxes and net income. It also lists members of NSP-Minnesota's board of directors and provides additional notes to the financial statements.
United Health GroupForm 8-K Related to Earnings Releasefinance3
UnitedHealth Group reported strong third quarter 2007 results, with net earnings per share of $0.95, up 19% year-over-year. Operating margins expanded 110 basis points to 11.5% due to margin gains in the Health Care Services segment. Medical costs ratios improved across all business segments. UnitedHealth Group expects full year 2007 earnings of $3.49-$3.50 per share and 2008 earnings of $3.95-$4.00 per share.
United Health Group [PDF Document] Form 8-K Related to Earnings Releasefinance3
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.
United Health Group UnitedHealth Group Financial Reviewfinance3
UnitedHealth Group reported strong financial results in 2003 with revenues increasing 15% to $28.8 billion and earnings from operations growing 34% to $2.9 billion. Net earnings grew 35% to $1.8 billion resulting in diluted EPS of $2.96. The results were driven by revenue growth across all business segments, improved margins on risk-based products, and a shift toward higher-margin fee-based services. Looking ahead, the company expects continued growth from increasing premium rates, expanding into new geographies and services, and pursuing additional acquisitions.
United Health Group Reconciliation of Non-GAAP Financial Measuresfinance3
UnitedHealth Group provided a reconciliation of non-GAAP measures to explain their use of operating results excluding special items and adjusted cash flows from operating activities, which are not calculated in accordance with GAAP. For the quarter and full year ended December 31, 2008, special items excluded from operating results included costs related to legal settlements. Adjusted cash flows excluded payments for legal settlements to determine a ratio of cash flows to adjusted net earnings. Management believes the non-GAAP measures improve comparability of results over periods.
UnitedHealth Group reported record first quarter results for 2006, with net earnings of $0.63 per share, up 15% from the first quarter of 2005. Revenue increased 54% to over $17 billion compared to the same period last year. The company also increased its full year 2006 earnings per share outlook to a range of $2.88 to $2.92, representing growth of 22-24% over 2005. Strong growth was driven by the company's businesses serving seniors, commercial services including consumer-driven healthcare plans, and specialty businesses.
United Health Group [PDF Document] Earnings Releasefinance3
UnitedHealth Group reported record third quarter results, with net earnings of $1.04 per share, up 35% from the prior year. Revenues increased 36% to over $9.8 billion. Strong customer growth was seen across all business segments. Operating margins expanded to 11.1% and operating cash flows increased 49% to over $950 million. The company also updated full-year 2004 earnings guidance to $3.92 per share, up from the previous projection, and provided preliminary 2005 earnings guidance of $4.70-$4.75 per share.
United Health Group [PDF Document] Form 8-K Related to Earnings Releasefinance3
This document is a SEC filing by UnitedHealth Group that reports their financial results for the first quarter of 2007. Some key highlights include revenues of $19.05 billion, earnings from operations of $1.58 billion, and a reported operating margin of 8.3%. Net earnings per share were $0.66 or $0.74 excluding one-time charges. The filing also provides segment-level financial results for the Health Care Services segment, which achieved revenues of $17.09 billion and earnings from operations of $1.30 billion.
- Micron Technology reported financial results for its third quarter of fiscal year 2008, which ended on May 29, 2008. Net sales increased 10% compared to the previous quarter to $1.5 billion, but the company still reported a net loss of $236 million.
- Cost of goods sold per gigabit decreased approximately 15-25% compared to the previous quarter for DRAM and NAND Flash memory products. However, the company continues to implement restructuring initiatives to improve efficiency and reduce costs.
- Cash flow from operating activities was $217 million for the quarter and the company ended with $1.6 billion in cash, though capital expenditures remain high at $577 million for the quarter.
Micron Technology reported financial results for its fourth quarter and fiscal year 2008, ended August 28, 2008. For the quarter, Micron reported a net loss of $344 million compared to a net loss of $158 million in the prior year quarter. For the fiscal year, Micron reported a net loss of $1.6 billion compared to a net loss of $320 million in the prior fiscal year. Micron's results were negatively impacted by a $205 million charge to write down inventory values and a $463 million charge in the second quarter to write off goodwill in its memory segment. Excluding these charges, Micron's net loss would have been $209 million for the quarter and $1.021 billion for
The document is a Form 8-K filed by Micron Technology, Inc. with the SEC on April 2, 2008 reporting their financial results for the second quarter of fiscal year 2008.
The key details are:
1) Micron reported net sales of $1.4 billion for the second quarter, down 11% from the previous quarter due to lower selling prices, partially offset by increased production.
2) They recorded a non-cash goodwill impairment charge of $463 million due to their market capitalization falling below book value.
3) Excluding this charge, their net loss would have been $0.41 per diluted share or $314 million, compared to a loss of $
Micron Technology reported financial results for its fiscal Q4 2007 and full year 2007. For Q4, Micron reported a net loss of $158 million on revenues of $1.4 billion, compared to a net loss of $225 million on revenues of $1.3 billion in the previous quarter. For the full year, Micron reported a net loss of $320 million on revenues of $5.7 billion, compared to net income of $408 million on revenues of $5.3 billion in the previous fiscal year. Micron's results were impacted by declining average selling prices for memory products due to industry supply and demand dynamics. Micron took restructuring actions, including job cuts, to improve efficiency and growth
United Health Group Form 8-K Related to Earnings Release Final Financial Tablesfinance3
UnitedHealth Group reported final second quarter 2007 results that were two cents higher per share than preliminary results, bringing earnings to $0.89 per share. As a result, UnitedHealth is increasing its full year 2007 earnings outlook to a range of $3.45 to $3.50 per share. Senior management will meet with investors through September to discuss the company's business strategy and reaffirm its financial expectations.
Clear Channel Communications reported first quarter 2008 results, with revenues increasing 4% to $1.6 billion compared to the same period in 2007. Expenses also increased 8% to $1.1 billion, and income before discontinued operations increased 70% to $161.4 million. The company completed the sale of its television group for $1 billion and continued selling non-core radio stations, with 223 stations sold through March 31, 2008 and an additional 32 under definitive agreements. The proposed merger with a group led by Thomas H. Lee Partners and Bain Capital was delayed, with no estimated closing date given.
MetLife filed an 8-K form with the SEC on October 28, 2011 to provide a slide presentation for their upcoming earnings call on the same date. The presentation aimed to summarize the potential impact of an interest rate stress scenario in the US on MetLife, outline mitigating actions already taken regarding investments and business operations, and reassure investors of MetLife's diversification and risk management practices. The filing included the required exhibits and signatures as part of the 8-K form.
This document is an 8-K filing by First State Bancorporation reporting their financial results for the first quarter of 2009. It summarizes that they had a net loss of $24.4 million compared to net income of $3.9 million in the same period in 2008, largely due to increased provision for loan losses. Core deposits increased by $158.9 million while loans decreased by $50.5 million. They also signed an agreement to sell their Colorado branches which will boost capital ratios.
Realogy Corporation announced preliminary unaudited results for full year 2007:
- Adjusted EBITDA was $704 million, within previous guidance of $700-725 million.
- Cash balance was $165 million on December 31, 2007.
- $750 million revolving credit facility was undrawn on that date.
The results have not been finalized or audited. Realogy expects to release audited full year 2007 results and hold a conference call in mid-March 2008.
Realogy Corporation announced preliminary unaudited results for full year 2007:
- Adjusted EBITDA was $704 million, within previously guided range of $700-725 million.
- Cash balance was $165 million at December 31, 2007.
- $750 million revolving credit facility was undrawn at year-end.
The results are preliminary and unaudited. Realogy will release audited full year results in March 2008 and hold a conference call.
Realogy Corporation reported its full-year 2007 pro forma combined financial results. Key details include:
- Revenue of $6.0 billion
- Adjusted EBITDA of $816 million
- A net loss of $605 million, largely due to $445 million in non-cash impairment charges recorded in Q4 2007.
- The company exited its "at-risk" government relocation business, which is expected to improve cash flow by $50 million in 2008.
Realogy Corporation reported its full-year 2007 pro forma combined financial results. Key details include:
- Revenue of $6.0 billion
- Adjusted EBITDA of $816 million
- A net loss of $605 million, largely due to $445 million in non-cash impairment charges recorded in Q4 2007.
- The company exited its "at-risk" government relocation business, which is expected to improve cash flow by $50 million in 2008.
This document is Tenet Healthcare Corporation's annual report on Form 10-K for the fiscal year ended May 31, 2002 filed with the Securities and Exchange Commission. It provides an overview of Tenet's business operations including its general hospitals, facilities, acquisitions and partnerships during the fiscal year. The report also lists each of Tenet's 116 general hospitals in the United States by state and location.
United Health Group [PDF Document] Form 8-K Related to Earnings Releasefinance3
This document is a Form 8-K filed by UnitedHealth Group Inc. with the SEC on April 14, 2005. It summarizes UnitedHealth's financial results for the first quarter of 2005, including revenue of $10.9 billion (up 34% year-over-year), net earnings of $779 million (up 41% year-over-year), and earnings per share of $1.16 (up 32% year-over-year). It also provides details on growth across various business units, expanding operating margins, cash flows, medical costs, and provides an outlook for continued growth in 2005 with EPS expected to increase 23-24%.
- Time Warner Inc. filed a quarterly report (Form 10-Q) with the SEC for the period ending March 31, 2008.
- The report provides financial and operating results for each of Time Warner's business segments, including AOL, Cable, Filmed Entertainment, Networks, and Publishing for the quarter.
- For the quarter, Time Warner generated revenues of $11.417 billion, Operating Income of $1.947 billion, Net Income of $771 million, and Cash Provided by Operations of $2.796 billion.
Micron Technology reported financial results for its first quarter of fiscal year 2009. It posted a net loss of $706 million compared to a net loss of $344 million last quarter. Sales decreased 4% from last quarter to $1.4 billion due to lower average selling prices for DRAM and NAND flash memory products. Gross margin declined from the prior quarter due to decreases in memory product prices outpacing cost reductions. The company continued restructuring activities this quarter, resulting in a $66 million credit in operating expenses. Cash flow from operations was $359 million for the quarter.
Tenet Healthcare Corporation filed an 8-K form with the SEC to reclassify certain financial information in its 2007 10-K filing from continuing operations to discontinued operations. Specifically, financial data for 6 California hospitals was moved to discontinued operations based on their pending sales or divestment plans. The reclassification had no impact on total assets, liabilities, equity, net income/loss, or cash flows. Selected financial data from 2003-2007 and balance sheet data as of 2007 and 2006 was provided with the reclassified information. Management's discussion focused on key developments in 2008, including the planned sale of North Ridge Medical Center and new managed care agreements. The filing was made to conform Tenet's prior financial reporting to its presentation in
Baxter International Inc. reported financial results for the third quarter of 2009. Net income grew 12% to $530 million compared to the third quarter of 2008. Earnings per share increased 18% to $0.87. Excluding special charges, adjusted net income increased 6% and adjusted earnings per share grew 11%. Baxter provided guidance for the fourth quarter and full year 2009, expecting continued sales and earnings growth.
S.Y. Bancorp reported first quarter 2009 earnings of $4.7 million, down slightly from $5 million in the first quarter of 2008. Total assets grew 7% to $1.631 billion due to a 7% increase in loans. However, net interest margin declined to 3.80% from 3.95% due to falling interest rates and new trust preferred securities. While credit quality remained strong with non-performing loans at 0.43% of total loans, the company increased its loan loss provision to $1.625 million in anticipation of potential future issues given economic uncertainty.
Similar to United Health Group [PDF Document] Form 8-K Related to Earnings Release (20)
Merrill Lynch reported first quarter 2003 net earnings of $685 million, a 6% increase from $647 million in the first quarter of 2002. Revenues were $4.9 billion, down 5% from the prior year quarter. While commissions revenue declined due to lower transaction volumes, debt trading increased revenues. Expenses decreased 6% to $2.5 billion for compensation and 7% for other expenses through cost cutting. The results demonstrated progress in diversifying revenues despite difficult markets.
Merrill Lynch reported second quarter net earnings of $1 billion, their second-best quarterly earnings ever. Net revenues for the quarter were $5.3 billion, a 7% increase over the previous year. The pre-tax profit margin of 27.6% was the highest in over 25 years. Global Markets and Investment Banking saw a 25% increase in revenues compared to the previous year and achieved a record pre-tax profit margin. Global Private Client revenues declined 6% from the previous year due to reduced transaction activity, but the pre-tax profit margin increased. Merrill Lynch continues initiatives to diversify revenues and leverage client relationships across business segments.
Merrill Lynch reported net earnings of $1.04 billion for Q3 2003, a 50% increase from $693 million in Q3 2002. This was the highest third quarter earnings in company history and the second-best quarterly earnings overall. Revenues increased 16% to $5.1 billion from Q3 2002, driven by strong growth in global markets and investment banking. The pre-tax profit margin rose to 29.8% from 24.2% in Q3 2002.
Merrill Lynch reported record quarterly and annual net earnings for 2003. Net earnings for 2003 were $4.0 billion, up 59% from 2002. Fourth quarter net earnings were $1.2 billion, also the highest ever reported. Global Markets and Investment Banking pre-tax earnings increased 65% for the year due to revenue growth and expense discipline. Global Private Client pre-tax earnings rose 22% for the year due to diverse revenue sources and operating leverage. Merrill Lynch Investment Managers pre-tax earnings declined 11% for the year but rose in the fourth quarter.
- Merrill Lynch reported second quarter net earnings of $1.1 billion, up 10% from the second quarter of 2003. Earnings per share were $1.06.
- Global Private Client and Merrill Lynch Investment Managers saw increased earnings, while Global Markets and Investment Banking saw lower earnings.
- For the first half of the year, net earnings were $2.3 billion, up 44% from the first half of 2003, driven by revenue growth of 13% and improved profit margins.
Merrill Lynch reported record quarterly earnings for Q1 2004, with net earnings up 95% year-over-year to $1.3 billion. Net revenues grew 27% to $6.1 billion, driven by growth across all three business segments. Global Markets and Investment Banking saw increased revenues from debt and equity trading. Global Private Client achieved record pre-tax earnings on higher asset values and net inflows. Merrill Lynch Investment Managers posted a near tripling of pre-tax earnings due to increased assets under management. The company will continue focusing on disciplined growth, diversification, and maintaining strategic balance across its businesses.
Merrill Lynch reported third quarter net earnings of $920 million, down 8% from the previous year. For the first nine months of the year, net earnings were $3.3 billion, up 24% from the same period last year. While markets were challenging in the quarter, the company's diversification efforts helped deliver solid results. Merrill Lynch continues investing in key growth initiatives across its business segments.
Merrill Lynch reported record results for full year 2004, with net earnings of $4.4 billion, up 16% from 2003. All three of Merrill Lynch's business segments - Global Markets and Investment Banking, Global Private Client, and Merrill Lynch Investment Managers - contributed to this performance by generating higher revenues and pre-tax earnings compared to 2003. In the fourth quarter of 2004 specifically, net revenues increased 21% to $5.9 billion compared to the same period in 2003. Merrill Lynch's chairman and CEO stated that the company is well positioned for continued shareholder rewards in the future.
Merrill Lynch reported first quarter 2005 net earnings of $1.2 billion, down 3% from the first quarter of 2004. Diluted earnings per share were $1.21. Net revenues increased 3% to $6.2 billion from the first quarter of 2004. Merrill Lynch also announced a new $4 billion share repurchase program and raised its quarterly dividend per share by 25%.
Merrill Lynch reported second quarter 2005 earnings per share of $1.14, up 9% from the second quarter of 2004. This was the highest earnings per share Merrill Lynch has achieved in a second quarter. Net revenues increased 20% compared to the prior year quarter. All three of Merrill Lynch's business segments - Global Markets and Investment Banking, Global Private Client, and Merrill Lynch Investment Managers - saw increases in net revenues and pre-tax earnings compared to the second quarter of 2004. Merrill Lynch had record first half earnings per share, pre-tax earnings, and net earnings for the first six months of 2005.
Merrill Lynch reported record quarterly earnings for Q3 2005, with net earnings per share of $1.40, up 51% from the prior year. Net revenues were $6.7 billion, up 38% year-over-year. All three business segments - Global Markets and Investment Banking, Global Private Client, and Merrill Lynch Investment Managers - saw revenue and earnings increases. Merrill Lynch's performance was driven by strong growth across its businesses and the benefits of investments made over the past two years.
Merrill Lynch reported record earnings for 2005, with earnings per share of $5.27, up 20% from 2004. Net earnings were $5.2 billion, up 18% from 2004. All three of Merrill Lynch's business segments - Global Markets and Investment Banking, Global Private Client, and Merrill Lynch Investment Managers - generated record pre-tax earnings and higher revenues compared to 2004. Merrill Lynch also announced a 25% increase to its quarterly common stock dividend to $0.25 per share.
Merrill Lynch reported record quarterly net revenues of $8.0 billion for Q1 2006, up 28% from Q1 2005. Net earnings were $475 million, though excluding one-time compensation expenses earnings were $1.7 billion, up 36% from Q1 2005. All three business segments saw increased net revenues both sequentially and year-over-year. Global Markets revenues rose 37% to $4.6 billion due to strong performance across equity, debt, and investment banking. Global Private Client revenues increased 13% to $2.9 billion on higher fees and client assets. Merrill Lynch Investment Managers revenues grew 38% to $570 million on higher assets under management.
Merrill Lynch reported record quarterly net revenues of $8.2 billion for Q2 2006, up 29% from Q2 2005. Net earnings were $1.6 billion for Q2 2006, up 44% from Q2 2005. All three business segments - Global Markets and Investment Banking, Global Private Client, and Merrill Lynch Investment Managers - delivered substantial year-over-year revenue and earnings growth. Merrill Lynch also achieved several business and financial records in Q2 2006. Looking forward, Merrill Lynch will continue investing in talent and technology to build capabilities and achieve future growth.
This document is a press release from Merrill Lynch announcing record third quarter and year-to-date 2006 earnings. Some key points:
- Third quarter net earnings were $3.0 billion, or $3.17 per diluted share, up significantly from third quarter 2005. Excluding a one-time gain from the BlackRock merger, EPS was $2.00, up 43% from third quarter 2005.
- Year-to-date net earnings and EPS were also records at $5.2 billion and $5.19 respectively, up 38% from the same period in 2005. Excluding one-time items, year-to-date EPS was $5.27, up 40% from 2005
Merrill Lynch reported record financial results for full year 2006, with net revenues of $34.7 billion, net earnings of $7.5 billion ($7.59 per share), and return on equity of 21.3%. The fourth quarter saw net revenues of $8.6 billion, net earnings of $2.3 billion ($2.41 per share), and return on equity of 25.6%. Business segments Global Markets and Investment Banking and Global Wealth Management both had strong growth in revenues and earnings for the full year and fourth quarter. Merrill Lynch was well positioned for continued growth in global markets and wealth management.
Merrill Lynch reported strong financial results for the first quarter of 2007, with net revenues of $9.9 billion, up 24% from the first quarter of 2006. Net earnings were $2.2 billion, up 354% from the prior year period, driven by record revenues in fixed income, currencies and commodities, equity markets, and investment banking. Global wealth management also saw growth, with record fee-based revenues and client assets totaling $1.6 trillion, up 10% from the year before. Looking forward, Merrill Lynch expects continued growth and remains focused on disciplined expansion.
Merrill Lynch reported strong financial results for the second quarter and first half of 2007, with record revenues and earnings. Net revenues for Q2 2007 increased 19% year-over-year to $9.7 billion, while net earnings increased 31% to $2.1 billion. Both Global Markets and Investment Banking and Global Wealth Management saw record revenues. For the first half of the year, net revenues were up 21% to a record $19.6 billion, with net earnings up 104% to $4.3 billion. Merrill Lynch exceeded expectations in a volatile market environment and saw continued growth across all business segments and global regions.
- Merrill Lynch reported a net loss from continuing operations of $8.6 billion for full year 2007, significantly below net earnings of $7.1 billion in 2006. The loss was primarily driven by significant declines in Fixed Income, Currencies & Commodities (FICC) net revenues in the second half of 2007, which more than offset record revenues in other business lines.
- For Q4 2007 specifically, Merrill Lynch reported a net loss from continuing operations of $10.3 billion, down substantially from net earnings of $2.2 billion in Q4 2006. This was mainly due to large write-downs related to mortgage-backed securities and hedges with financial guarantors.
- Several
Merrill Lynch reported a net loss of $1.97 billion for Q1 2008 compared to net earnings of $2.03 billion in Q1 2007. Revenues fell 69% to $2.9 billion due to write-downs related to US ABS CDOs and credit valuation adjustments on hedges with financial guarantors. However, Global Wealth Management saw record quarterly revenues with strong fee income and $9 billion in annuity inflows. While investment banking revenues fell 40% due to lower deal volumes, the business pipeline was only down 5% overall from year-end levels.
The Rise and Fall of Ponzi Schemes in America.pptxDiana Rose
Ponzi schemes, a notorious form of financial fraud, have plagued America’s investment landscape for decades. Named after Charles Ponzi, who orchestrated one of the most infamous schemes in the early 20th century, these fraudulent operations promise high returns with little or no risk, only to collapse and leave investors with significant losses. This article explores the nature of Ponzi schemes, notable cases in American history, their impact on victims, and measures to prevent falling prey to such scams.
Understanding Ponzi Schemes
A Ponzi scheme is an investment scam where returns are paid to earlier investors using the capital from newer investors, rather than from legitimate profit earned. The scheme relies on a constant influx of new investments to continue paying the promised returns. Eventually, when the flow of new money slows down or stops, the scheme collapses, leaving the majority of investors with substantial financial losses.
Historical Context: Charles Ponzi and His Legacy
Charles Ponzi is the namesake of this deceptive practice. In the 1920s, Ponzi promised investors in Boston a 50% return within 45 days or 100% return in 90 days through arbitrage of international reply coupons. Initially, he paid returns as promised, not from profits, but from the investments of new participants. When his scheme unraveled, it resulted in losses exceeding $20 million (equivalent to about $270 million today).
Notable American Ponzi Schemes
1. Bernie Madoff: Perhaps the most notorious Ponzi scheme in recent history, Bernie Madoff’s fraud involved $65 billion. Madoff, a well-respected figure in the financial industry, promised steady, high returns through a secretive investment strategy. His scheme lasted for decades before collapsing in 2008, devastating thousands of investors, including individuals, charities, and institutional clients.
2. Allen Stanford: Through his company, Stanford Financial Group, Allen Stanford orchestrated a $7 billion Ponzi scheme, luring investors with fraudulent certificates of deposit issued by his offshore bank. Stanford promised high returns and lavish lifestyle benefits to his investors, which ultimately led to a 110-year prison sentence for the financier in 2012.
3. Tom Petters: In a scheme that lasted more than a decade, Tom Petters ran a $3.65 billion Ponzi scheme, using his company, Petters Group Worldwide. He claimed to buy and sell consumer electronics, but in reality, he used new investments to pay off old debts and fund his extravagant lifestyle. Petters was convicted in 2009 and sentenced to 50 years in prison.
4. Eric Dalius and Saivian: Eric Dalius, a prominent figure behind Saivian, a cashback program promising high returns, is under scrutiny for allegedly orchestrating a Ponzi scheme. Saivian enticed investors with promises of up to 20% cash back on everyday purchases. However, investigations suggest that the returns were paid using new investments rather than legitimate profits. The collapse of Saivian l
Monthly Market Risk Update: June 2024 [SlideShare]Commonwealth
Markets rallied in May, with all three major U.S. equity indices up for the month, said Sam Millette, director of fixed income, in his latest Market Risk Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
Budgeting as a Control Tool in Government Accounting in Nigeria
Being a Paper Presented at the Nigerian Maritime Administration and Safety Agency (NIMASA) Budget Office Staff at Sojourner Hotel, GRA, Ikeja Lagos on Saturday 8th June, 2024.
Discover the Future of Dogecoin with Our Comprehensive Guidance36 Crypto
Learn in-depth about Dogecoin's trajectory and stay informed with 36crypto's essential and up-to-date information about the crypto space.
Our presentation delves into Dogecoin's potential future, exploring whether it's destined to skyrocket to the moon or face a downward spiral. In addition, it highlights invaluable insights. Don't miss out on this opportunity to enhance your crypto understanding!
https://36crypto.com/the-future-of-dogecoin-how-high-can-this-cryptocurrency-reach/
Explore the world of investments with an in-depth comparison of the stock market and real estate. Understand their fundamentals, risks, returns, and diversification strategies to make informed financial decisions that align with your goals.
KYC Compliance: A Cornerstone of Global Crypto Regulatory FrameworksAny kyc Account
This presentation explores the pivotal role of KYC compliance in shaping and enforcing global regulations within the dynamic landscape of cryptocurrencies. Dive into the intricate connection between KYC practices and the evolving legal frameworks governing the crypto industry.
In World Expo 2010 Shanghai – the most visited Expo in the World History
https://www.britannica.com/event/Expo-Shanghai-2010
China’s official organizer of the Expo, CCPIT (China Council for the Promotion of International Trade https://en.ccpit.org/) has chosen Dr. Alyce Su as the Cover Person with Cover Story, in the Expo’s official magazine distributed throughout the Expo, showcasing China’s New Generation of Leaders to the World.
How Poonawalla Fincorp and IndusInd Bank’s Co-Branded RuPay Credit Card Cater...beulahfernandes8
The eLITE RuPay Platinum Credit Card, a strategic collaboration between Poonawalla Fincorp and IndusInd Bank, represents a significant advancement in India's digital financial landscape. Spearheaded by Abhay Bhutada, MD of Poonawalla Fincorp, the card leverages deep customer insights to offer tailored features such as no joining fees, movie ticket offers, and rewards on UPI transactions. IndusInd Bank's solid banking infrastructure and digital integration expertise ensure seamless service delivery in today's fast-paced digital economy. With a focus on meeting the growing demand for digital financial services, the card aims to cater to tech-savvy consumers and differentiate itself through unique features and superior customer service, ultimately poised to make a substantial impact in India's digital financial services space.
Confirmation of Payee (CoP) is a vital security measure adopted by financial institutions and payment service providers. Its core purpose is to confirm that the recipient’s name matches the information provided by the sender during a banking transaction, ensuring that funds are transferred to the correct payment account.
Confirmation of Payee was built to tackle the increasing numbers of APP Fraud and in the landscape of UK banking, the spectre of APP fraud looms large. In 2022, over £1.2 billion was stolen by fraudsters through authorised and unauthorised fraud, equivalent to more than £2,300 every minute. This statistic emphasises the urgent need for robust security measures like CoP. While over £1.2 billion was stolen through fraud in 2022, there was an eight per cent reduction compared to 2021 which highlights the positive outcomes obtained from the implementation of Confirmation of Payee. The number of fraud cases across the UK also decreased by four per cent to nearly three million cases during the same period; latest statistics from UK Finance.
In essence, Confirmation of Payee plays a pivotal role in digital banking, guaranteeing the flawless execution of banking transactions. It stands as a guardian against fraud and misallocation, demonstrating the commitment of financial institutions to safeguard their clients’ assets. The next time you engage in a banking transaction, remember the invaluable role of CoP in ensuring the security of your financial interests.
For more details, you can visit https://technoxander.com.
Economic Risk Factor Update: June 2024 [SlideShare]Commonwealth
May’s reports showed signs of continued economic growth, said Sam Millette, director, fixed income, in his latest Economic Risk Factor Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
Economic Risk Factor Update: June 2024 [SlideShare]
United Health Group [PDF Document] Form 8-K Related to Earnings Release
1. 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): April 21, 2008
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))
2. Item 2.02. Results of Operations and Financial Condition.
On April 22, 2008, UnitedHealth Group Incorporated (the “Company”) issued a press release announcing first quarter 2008 results. A
copy of the press release is furnished herewith as Exhibit 99.1 and is incorporated in this Item 2.02 by reference.
The press release contains the following non-GAAP financial measures for first quarter 2007, which reflect the exclusion of certain
charges under Section 409A of the Internal Revenue Code or the modification of the timing of receiving certain premium payments
from the Centers for Medicare and Medicaid Services: adjusted net earnings per share, adjusted earnings from operations, adjusted
operating margin, adjusted net earnings, adjusted operating costs and adjusted cash flows from operations. The most directly
comparable GAAP financial measures to these non-GAAP measures for first quarter 2007 are as follows, respectively:
First Quarter 2007
Net earnings per share $ 0.66
Earnings from operations $ 1.58 billion
Operating margin 8.31%
Net earnings $ 0.93 billion
Operating costs $ 17.47 billion
Cash flows from operations $ 2.59 billion
Reconciliations of the non-GAAP financial measures to the most directly comparable GAAP financial measures are included in the
financial schedules attached to the press release.
The information in this Item 2.02, including the Exhibit attached hereto, shall not be deemed “filed” for purposes of Section 18 of the
Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any Company filing under the Securities Act of
1933, except as shall be expressly set forth by specific reference in such filing.
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensation
Arrangements of Certain Officers.
On April 22, 2008, the Company announced that on April 21, 2008, David S. Wichmann, Executive Vice President and President of
the Commercial Markets Group of the Company, assumed the role of President, UnitedHealth Group Operations with responsibility
for managing, on an enterprise-wide basis, several areas of the Company, including optimizing business performance, strengthening
and aligning the Company’s organization, overseeing the Company’s operations, technology, and quality agenda, and managing
corporate development, research, international operations and all integration efforts. A copy of the press release is filed herewith as
Exhibit 99.2 and is incorporated in this Item 5.02 by reference.
Mr. Wichmann served as Executive Vice President of the Company and President of the Commercial Markets Group from December
2006 to April 2008. From July 2004 to December 2006, Mr. Wichmann served as President and Chief Operating Officer of
UnitedHeathcare. From June 2003 to July 2004, Mr. Wichmann served as Chief Executive Officer of Specialized Care Services (now
3. OptumHealth). He also served as President and Chief Operating Officer of Specialized Care Services during 2003. Mr. Wichmann
joined UnitedHealth Group in 1998 and held various executive positions with the Company from 1998 to 2003.
Mr. Wichmann has not been directly or indirectly involved in any transaction, proposed transaction, or series of similar transactions
with the Company required to be disclosed pursuant to Item 404(a) of Regulation S-K. The Company and Mr. Wichmann have not
entered into any new agreement or made any material amendments to Mr. Wichmann’s existing employment agreement in connection
with the new appointment.
Item 9.01. Financial Statements and Exhibits.
Exhibit Description
99.1 Press Release dated April 22, 2008
99.2 Press Release dated April 22, 2008
4. 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: April 22, 2008
UNITEDHEALTH GROUP INCORPORATED
By: /s/ Christopher J. Walsh
Christopher J. Walsh
Senior Vice President and Deputy General Counsel
5. EXHIBIT INDEX
Exhibit Description
99.1 Press Release dated April 22, 2008
99.2 Press Release dated April 22, 2008
6. Exhibit 99.1
NEWS RELEASE
Investors: Brett Manderfeld John S. Penshorn G. Mike Mikan
Vice President Senior Vice President Chief Financial Officer
952-936-7216 952-936-7214 952-936-7374
Media: Don Nathan
Senior Vice President
952-936-1885
(For Immediate Release)
UNITEDHEALTH GROUP REPORTS FIRST QUARTER RESULTS
• Revenues Increased 7% to $20.3 Billion
• People Served Increased 2 Million to 73 Million
• Operating Margin of 8.4%
Net Earnings of $0.78 Per Share Increased 5% Over Prior Year First Quarter1
•
• Full Year 2008 Net Earnings Projected to be $3.55 to $3.60 Per Share
• Full Year Cash Flows Expected to Approach $6 Billion
MINNEAPOLIS (April 22, 2008) – UnitedHealth Group (NYSE: UNH) today reported its first quarter 2008 performance, including
year-over-year gains in people served, revenues, and net earnings per share. First quarter results reflect strong growth advances in
Enterprise Services businesses including financial services, and Medicaid programs, offset by higher than anticipated declines in risk-
based commercial business, and reduced investment income, prior to accounting for realized capital gains in the Company’s
investment portfolio.
1 Certain first quarter 2007 numbers have been adjusted to exclude Internal Revenue Code Section 409A charges. Such adjusted
numbers are non-GAAP financial measures. Further explanations of the non-GAAP measures referred to in this release and
reconciliations to the comparable GAAP measures are included in the attached financial schedules.
Page 1 of 13
7. UnitedHealth Group – Continued
The Company reduced its full year 2008 outlook by 10 percent or $0.40 per share to a range of $3.55 to $3.60 per share. This
reduction includes an anticipated $0.10 per share impact from unusually high influenza costs and reduced investment income, net of
capital gains, and adjustments reducing anticipated rates of revenue growth and margin assumptions for risk-based Commercial
Markets products – where membership levels have declined in response to strengthened premium yield increases in 2008 – and
certain senior products, where the timing of membership gains and the product mix have changed. Management estimates the full
year UnitedHealth Group medical care ratio to be in a range centered around 81.3 percent, plus or minus 50 basis points, compared to
80.6 percent in 2007. While the Company is attentive to the risk of future medical cost increases, management believes the
commercial medical cost trend is consistent with its previously projected range.
Stephen J. Hemsley, president and chief executive officer of UnitedHealth Group, said, “These financial results are not acceptable for
a company with our capabilities and potential. They are due in part to broader economic challenges and in part to our own
performance. We are adjusting our approaches, in particular to strengthen organic growth and address operating costs, to deliver
financial performance that more appropriately represents the capacity and potential of our organization. We remain focused on our
long-term strategy of building an integrated health services system supporting a spectrum of innovative market-facing businesses, and
we believe that the creation and operation of that enterprise will build exceptional value for its customers, business partners and
shareholders. Our first quarter results and new outlook include some of the successes we are seeing as we pursue that goal.”
A number of highlights are evident in the revised growth outlook, including strong growth for AmeriChoice and Ingenix and strong
operating performance from Prescription Solutions, including increased mail service fulfillment and generic drug utilization. Ovations
Special Needs Plans are expanding more strongly than expected, which the Company believes will be positive for the future. In
Commercial Markets, the Company’s leading position in consumer-driven benefit products continues to strengthen, with exceptional
growth achieved in first quarter 2008. Consumer participation in fee-based benefits in the Commercial Markets Group was also
stronger than expected, with more people electing UnitedHealth Group benefits at large employers offering multiple benefit
providers. Management believes that the Company’s improved service levels, broad and stable network and overall clinical value
proposition were key factors to the stronger consumer participation.
The Company remains committed to substantive share repurchase over the course of 2008, with a total of $4 billion in repurchase
activity planned for the full year.
Page 2 of 13
8. Quarterly Financial Performance
Three Months Ended
March 31, March 31, December 31,
2008 2007 2007
Revenues $20.30 billion $19.05 billion $18.71 billion
Earnings From Operations $ 1.76 billion 1
$ 1.71 billion $ 2.04 billion
Operating Margin 9.2%1
8.4% 10.9%
Given the diversity and changing mix of the business and seasonality considerations, management believes comparisons between first
quarter 2008 and fourth quarter 2007 results are less meaningful than year-over-year quarterly comparisons. Sequential quarterly
comparisons are affected by the seasonality of revenues, key income statement ratios, and earnings from operations in important
business lines such as Part D drug programs, high deductible insurance products and health informatics offerings.
UnitedHealth Group Highlights
First quarter consolidated net earnings per share were $0.78, an increase of 5 percent over the prior year 1.
•
• UnitedHealth Group served 73 million people through its diverse set of businesses as of March 31, 2008, an increase of
2 million people year-over-year.
• Consolidated first quarter revenues of $20.3 billion increased $1.3 billion or 7 percent year-over-year.
• Consolidated first quarter earnings from operations were $1.7 billion and net earnings were $994 million, representing
decreases of 3 percent and 4 percent, respectively, from the prior year 1, while the consolidated operating margin of 8.4
percent decreased 80 basis points from the prior year 1. These decreases were primarily due to business mix changes and a
margin decline in the Company’s Health Care Services business, which was affected by unusually high influenza costs.
Page 3 of 13
9. UnitedHealth Group Highlights – Continued
• The consolidated medical care ratio of 82.4 percent improved 30 basis points year-over-year, driven by improved ratios in
the Medicaid and Medicare Advantage businesses which offset increased medical care ratios for Part D prescription drug
plans and at Evercare, due to higher sales of comparatively lower margin Special Needs Plans, as well as an increase in the
Commercial Markets Group medical care ratio related to shortfalls in planned premium yield increases.
• During the first quarter of 2008, the Company realized net favorable development of $200 million in its estimates of
medical costs incurred in 2007. This compares to $180 million in favorable development of estimates of medical costs
incurred in 2006 that was realized in the first quarter of 2007.
• First quarter 2008 operating costs were 14.3 percent of revenue, an increase of 120 basis points from the first quarter of
2007 1, and a decrease of 10 basis points from the fourth quarter of 2007. First quarter operating costs include those
incurred to support anticipated revenue growth which has not fully materialized; accordingly, the Company is selectively
reducing its run-rate operating costs to more appropriately align with business levels for the balance of 2008 without
compromising its commitments to service, growth and innovation. The acquisition of Fiserv Health added approximately
20 basis points to this ratio in the first quarter.
• The first quarter income tax rate of 36.2 percent decreased 60 basis points year-over-year, but increased 70 basis points
from fourth quarter 2007, due to state tax matters.
• Consolidated medical costs days payable were 51 days for the first quarter of 2008, compared to 53 days in the first quarter
of 2007. The year-over-year decrease of 2 days was primarily due to an increased mix of pharmacy payables (which have
shorter payment cycles), driven by growth from the new state of New York – Empire Plan Prescription Drug Program
pharmacy benefit contract, and the timing of payments to the Company’s external pharmacy benefit fulfillment partner.
• Cash flows from operations were $280 million versus $1.07 billion in the first quarter of 2007, as adjusted for CMS
payment timing. The Company projects full year 2008 cash flows from operations to approach $6 billion or 1.3 times its
revised net income outlook. Factors driving the year-over-year decrease in first quarter cash flows included the effects of
decreases in consumers served through commercial and Part D risk-based arrangements and timing-related items such as
federal program receipts and payments to the Company’s external pharmacy benefit fulfillment partner, that are expected
to reverse over the course of the year.
• During the first quarter, the Company began repositioning a portion of its investment portfolio to improve its future returns
and to take advantage of strong market demand for high quality debt securities that it currently owns. First quarter
consolidated revenues included $53 million in realized net capital gains. These gains were partially offset by lower
investment yields on cash and cash equivalents.
• UnitedHealth Group strengthened a number of its lines of business and its geographic profile in the first quarter through the
acquisitions of Fiserv Health, specializing in customized benefits for self-funded organizations, and Sierra Health Services
(Sierra), the leading managed care organization in the Nevada marketplace.
Page 4 of 13
10. UnitedHealth Group Highlights – Continued
• During the first quarter AmeriChoice announced an agreement to acquire Unison Health Plans, a leading provider of health
benefit services to states and state program beneficiaries. AmeriChoice expects the acquisition will close by the end of the
second quarter, at which point AmeriChoice will provide services to more than 2 million people in 21 states.
• The Company repurchased 31 million shares during the first quarter of 2008, representing 2 1/2 percent of its shares
outstanding at December 31, 2007.
• First quarter 2008 return on equity increased 2 percentage points from the first quarter of 2007 to 20 percent.
• UnitedHealth Group and Medco Health Solutions have extended their pharmacy benefit fulfillment contract through
December 31, 2012. Under the extended and aligned agreement, UnitedHealth Group will in-source customer service and
benefit set-up, creating a more integrated and seamless experience for customers.
Outlook
UnitedHealth Group anticipates earnings of $3.55 to $3.60 per share in 2008, with revenues projected in the $81 billion to $82 billion
range. Management anticipates full year cash flows from operations approaching $6 billion, and expects the Company will repurchase
$4 billion of stock during 2008. The financial schedules included in this news release include additional data elements pertaining to
the Company’s revised 2008 outlook.
Page 5 of 13
11. Business Description – Health Care Services
Within the Health Care Services Commercial Markets Group, UnitedHealthcare coordinates network-based health and well-being
services for small and mid-sized employers and for individuals, while Uniprise provides these services on a dedicated basis to large,
multi-site employers. In the Public and Senior Markets Group, Ovations delivers health and well-being services to Americans over the
age of 50. AmeriChoice manages health care services for state Medicaid programs and their beneficiaries.
Quarterly Financial Performance
Three Months Ended
March 31, March 31, December 31,
2008 2007 2007
Revenues $19.02 billion $18.06 billion $17.57 billion
Earnings From Operations $ 1.37 billion $ 1.46 billion $ 1.60 billion
Operating Margin 7.2% 8.1% 9.1%
Key Developments for Health Care Services
• Revenues for Health Care Services grew $961 million or 5 percent year-over-year and $1.4 billion or 8 percent sequentially to
$19.0 billion in the first quarter of 2008. Revenue increases were driven by growth in customers served in the Public and Senior
Markets Group and premium increases to cover medical cost inflation, partially offset by an organic decline in consumers served
through commercial risk-based products.
• First quarter Health Care Services earnings from operations of $1.4 billion decreased $87 million or 6 percent year-over-year.
Influenza costs that were $80 million above normal levels and a decline in commercial risk-based business impacted year-over-
year profitability.
Page 6 of 13
12. Key Developments for Health Care Services – Continued
• Ovations revenues were $7.5 billion in the first quarter, up $424 million or 6 percent year-over-year and $1.2 billion or 19
percent from the fourth quarter of 2007.
• Participation in Ovations standardized Medicare supplement products increased by 50,000 people in the first quarter of 2008.
• The Ovations Medicare Advantage programs reported a year-to-date increase through April 1, 2008 of 110,000 people, through
organic growth of 50,000 people and the acquisition of Sierra’s seniors business. As of March 31, 2008, the number of
customers served with these products increased by 115,000 or 9 percent year-over-year. The 2008 enrollment period gross sales
of Medicare Advantage HMO, Private-Fee-For-Service and Special Needs Plans were up 52 percent year-over-year, with net
growth in total slightly lower than projected. There was strong net growth in Special Needs Plans, which serve seniors with
chronic health conditions. The Company expects to continue to grow Special Needs Plans over the balance of the year within a
slightly lowered overall 2008 Medicare Advantage organic growth outlook of 100,000 to 125,000 seniors in total.
• New Special Needs Plans members often have not received coordinated medical care services in the past, and generally require
12 to 18 months of engagement with the Company’s clinical management programs before Evercare reaches a typical margin
level. While the Ovations medical care ratio for its core SecureHorizons HMO and Private-Fee-For-Service Medicare
Advantage business improved slightly in the first quarter and is projected to remain broadly stable in 2008, compared to 2007,
the growth in Special Needs Plans, together with cost pressures in low income Part D membership, is projected to impact the
consolidated Ovations medical care ratio over the course of 2008.
• The Ovations Evercare business added 70,000 people under a Texas fee-based Medicaid benefit program during the first quarter
of 2008, and was awarded a three-year contract to provide risk-based care coordination services for an estimated 15,000 people
in the state of Hawaii’s QUEST Expanded Access Program for the Aged, Blind and Disabled. This contract is expected to
commence in late 2008.
• The Ovations Part D business served 5.5 million seniors as of March 31, 2008, a decrease of 390,000 people or 7 percent year-
over-year. This decrease reflects the previously announced re-assignment of approximately 650,000 dual-eligible low income
beneficiaries from Ovations to other plans by CMS, based solely on annual price bids, offset by organic growth in Part D and
Medicare Advantage products, and the acquisition of Sierra.
• AmeriChoice first quarter revenues of $1.2 billion increased $226 million or 23 percent year-over-year.
• AmeriChoice membership grew by 100,000 people or 6 percent in the first quarter of 2008, and 310,000 people or 21 percent
year-over-year, including 60,000 from Sierra for both periods.
Page 7 of 13
13. Key Developments for Health Care Services – Continued
• First quarter revenues of $10.4 billion for the Commercial Markets Group (UnitedHealthcare and Uniprise) increased $311
million or 3 percent year-over-year and $259 million or 3 percent sequentially.
• UnitedHealthcare, together with Uniprise, added 1,065,000 commercial health benefit consumers served in the first quarter, with
increases from acquisitions partially offset by organic decreases of 30,000 people in fee-based arrangements and 530,000 in
risk-based programs. The decline in risk-based business included a loss of 250,000 people from the PacifiCare businesses and
conversion of approximately 70,000 people from risk-based to fee-based benefit plans.
• The Commercial Markets Group continued to expand its leadership position in consumer-driven products, adding 545,000
people year-over-year and surpassing 2.7 million. In the first quarter these offerings experienced record quarterly growth of
more than 400,000 consumers.
• The Company believes the stronger than anticipated decline in commercial risk business is in response to stronger net premium
yields than the Company achieved in 2007 and 2006. Despite the premium yields achieved in 2008, the Company’s premium
yield is 30 to 40 basis points below expected medical cost trends. The greater than anticipated first quarter market response to
premium pricing actions has caused the Company to lower its commercial risk growth outlook for the balance of the year.
• UnitedHealthcare’s first quarter 2008 medical care ratio of 81.5 percent compares to 81.2 percent and 83.7 percent in the first
quarter and fourth quarter of 2007, respectively. Medical costs related to the unusually high incidence of influenza contributed
approximately 40 basis points to this ratio in first quarter 2008. Management estimates the full year 2008 UnitedHealthcare
commercial medical care ratio to be in the range of 82.3 percent, plus or minus 50 basis points, compared to a full year ratio of
82.1 percent in 2007.
Page 8 of 13
14. Business Description – OptumHealth
OptumHealth helps consumers better access and navigate the health care system, finance their health care needs and achieve their
health and well-being goals. OptumHealth delivers personalized consumer health advocacy and consumer engagement and education
programs through a combination of capabilities that encompass specialty benefits, behavioral benefit solutions, clinical care
engagement and financial services.
Quarterly Financial Performance
Three Months Ended
March 31, March 31, December 31,
2008 2007 2007
Revenues $1.30 billion $1.19 billion $1.26 billion
Earnings From Operations $197 million $213 million $239 million
Operating Margin 15.1% 17.9% 19.0%
Key Developments for OptumHealth
• First quarter revenues rose to $1.3 billion, up $114 million or 10 percent year-over-year and up $49 million or 4 percent from the
fourth quarter of 2007. OptumHealth provided services to more than 60 million consumers as of March 31, 2008, an increase of
2.6 million people year-over-year.
• In the first quarter, earnings from operations of $197 million decreased $16 million or 8 percent year-over-year, primarily due to
the loss of risk-based membership by OptumHealth’s largest customer, UnitedHealthcare.
• OptumHealth Financial Services (formerly known as Exante) ended the first quarter as the nation’s largest dedicated health
banking organization, with approximately $580 million in assets under management, an increase of 55 percent year-over-year.
OptumHealth Financial Services managed approximately 1.5 million accounts on behalf of customers of UnitedHealth Group
and 22 unaffiliated payers as of March 31, 2008.
• The OptumHealth business generated an operating margin of 15.1 percent in the first quarter of 2008, a decrease of 280 basis
points year-over-year due to the loss of UnitedHealthcare risk-based membership, combined with the mix effect of continued
growth in OptumHealth’s lower margin public sector business.
Page 9 of 13
15. Business Description – Ingenix
Ingenix is a leader in the field of health care information, 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
March 31, March 31, December 31,
2008 2007 2007
Revenues $362 million $262 million $414 million
Earnings From Operations $ 47 million $ 38 million $120 million
Operating Margin 13.0% 14.5% 29.0%
Key Developments for Ingenix
• Ingenix revenues increased $100 million, or 38 percent year-over-year, to $362 million in the first quarter of 2008. This
gain reflects strong performance in both the pharmaceutical services and health intelligence businesses.
• Ingenix contract revenue backlog grew approximately $0.5 billion or 38 percent on a year-over-year basis to nearly $1.7
billion as of March 31, 2008. Ingenix achieved record new order production in pharmaceutical services and strong sales
activity in systems that provide complex data analysis for payers.
• Ingenix first quarter operating earnings increased $9 million or 24 percent year-over-year to $47 million; the operating
margin decreased 150 basis points from the first quarter 2007 from 14.5 percent to 13.0 percent. Growth in comparatively
lower margin health care consulting services, such as public policy consulting, systems integration consulting, and large
pharmaceutical services projects, has shifted the business mix somewhat and moderated the operating margin percentage at
Ingenix year-over-year. Ingenix margins are expected to strengthen significantly from their first quarter level over the
course of 2008 as the business proceeds through its normal seasonal cycle.
Page 10 of 13
16. Business Description – Prescription Solutions
Prescription Solutions offers a comprehensive array of pharmacy benefit management and specialty pharmacy management services
to employer groups, union trusts, seniors through Medicare prescription drug plans, and commercial health plans.
Quarterly Financial Performance
Three Months Ended
March 31, March 31, December 31,
2008 2007 2007
Revenues $3.21 billion $3.38 billion $3.32 billion
Earnings From Operations $ 98 million $ 49 million $ 78 million
Operating Margin 3.1% 1.5% 2.4%
Key Developments for Prescription Solutions
• Prescription Solutions revenues of $3.2 billion decreased $173 million or 5 percent year-over-year during the first quarter
of 2008. This decrease was due to a reduction in the number of people served through Part D prescription drug plans by
Ovations, due to the CMS re-assignment of dual-eligible enrollees, and a continuing shift from name brand
pharmaceuticals to lower-price generic drugs.
• First quarter earnings from operations grew $49 million or 100 percent year-over-year to $98 million. Increased
Prescription Solutions profits were driven in part by significant gains in mail service drug fulfillment, which offers
improved affordability and convenience for the consumer, and a continuing favorable mix shift to generic pharmaceuticals.
• The Prescription Solutions first quarter operating margin reached 3.1 percent, more than doubling year-over-year and
increasing 70 basis points from the fourth quarter, driven again by strong generic utilization patterns and mail service
volume. Generic drug utilization increased 6 percentage points year-over-year to 66 percent in the first quarter of 2008.
Page 11 of 13
17. About UnitedHealth Group
UnitedHealth Group 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 seven operating businesses:
UnitedHealthcare, Uniprise, Ovations, AmeriChoice, OptumHealth, Ingenix and Prescription Solutions. Through its family of
businesses, UnitedHealth Group serves more than 70 million individuals nationwide. Visit www.unitedhealthgroup.com for more
information.
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 9:00 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 #28400383. This earnings release and the Form 8-K dated April 22, 2008, 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 press release including the schedules and supplementary information attached hereto, 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,” “plan,” “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 uncertainties and involve risks and uncertainties. We caution that actual results could differ
materially from those that management expects, depending on the outcome of certain factors. 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 historical stock option practices; the consequences of the
restatement of our previous financial statements, related governmental reviews, including a formal investigation by the Securities and
Exchange Commission, and review by the Internal Revenue Service, U.S. Congressional committees, 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, including whether court approval of the settlement agreements between the Company and
certain named defendants and the dismissal of the derivative claims against all named defendants is obtained, shareholder demands
and purported securities and Employee Retirement Income Security Act 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 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 contracts with AARP; uncertainties regarding changes in Medicare,
including coordination of information systems and accuracy of certain assumptions; funding risks with respect to revenues received
Page 12 of 13
18. from Medicare and Medicaid programs; failure to achieve business growth targets, including membership and enrollment; 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; failure to complete or receive
anticipated benefits of acquisitions; change in debt to total capital ratio that is lower or higher than we anticipated; the potential
consequences of the New York Attorney General’s investigation into our provider reimbursement practices; and the outcome of the
divestiture of our individual SecureHorizons Medicare Advantage HMO plans in Clark and Nye Counties (Nevada) and the
integration of the operations of the Company and Sierra Health Services, Inc. after the divestiture.
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 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. We
do not undertake to update or revise any forward-looking statements.
###
Page 13 of 13
19. UNITEDHEALTH GROUP
Earnings Release Schedules and Supplementary Information
Quarter Ended March 31, 2008
• Consolidated Statements of Operations
• Condensed Consolidated Balance Sheets
• Condensed Consolidated Statements of Cash Flows
• Segment Financial Information
• Customer Profile Summary
• Medical Care Ratios
• Reconciliation of Non-GAAP Financial Measures:
• Operating Results Excluding IRS Section 409A Charges
• Adjusted Cash Flows from Operating Activities
• Consolidated Reporting Excluding AARP
• 2008 Revised Outlook
20. UNITEDHEALTH GROUP
CONSOLIDATED STATEMENTS OF OPERATIONS
(in millions, except per share data)
(unaudited)
Three Months Ended March 31,
2008 2007 (a)
REVENUES
Premiums $ 18,389 $ 17,464
Services 1,273 1,116
Products 363 197
Investment and Other Income 279 270
Total Revenues 20,304 19,047
OPERATING COSTS
Medical Costs 15,144 14,440
Operating Costs 2,897 2,664
Cost of Products Sold 325 170
Depreciation and Amortization 225 191
Total Operating Costs 18,591 17,465
1,713 1,582
EARNINGS FROM OPERATIONS
Interest Expense (154) (116)
1,559 1,466
EARNINGS BEFORE INCOME TAXES
Provision for Income Taxes (565) (539)
$ 994 $ 927
NET EARNINGS
$ 0.80 $ 0.69
BASIC NET EARNINGS PER COMMON SHARE
$ 0.78 $ 0.66
DILUTED NET EARNINGS PER COMMON SHARE
Diluted Weighted-Average Common Shares Outstanding 1,278 1,399
(a) Includes $87 million of Operating Costs ($55 million after-tax or $.04 per share) for the settlement of Internal Revenue Code
Section 409A (IRS Section 409A) surtax liabilities on behalf of non-officer employees who exercised certain options in 2006
and 2007, and $89 million of non-cash Operating Costs ($57 million after-tax or $.04 per share) for the modification charge due
to repricing unexercised options subject to IRS Section 409A.
2
21. UNITEDHEALTH GROUP
CONDENSED CONSOLIDATED BALANCE SHEETS
(in millions)
(unaudited)
March 31, December 31,
2008 2007
ASSETS
Cash and Short-Term Investments $ 7,040 $ 9,619
Accounts Receivable, net 1,934 1,574
Other Current Assets 4,793 4,351
Total Current Assets 13,767 15,544
Long-Term Investments 13,345 12,667
Other Long-Term Assets 26,431 22,688
Total Assets $53,543 $ 50,899
LIABILITIES AND SHAREHOLDERS’ EQUITY
Medical Costs Payable $ 8,537 $ 8,331
Commercial Paper and Current Maturities of Long-Term Debt 1,727 1,946
Other Current Liabilities 8,534 8,215
Total Current Liabilities 18,798 18,492
Long-Term Debt, less current maturities 11,495 9,063
Future Policy Benefits for Life and Annuity Contracts 1,854 1,849
Deferred Income Taxes and Other Liabilities 1,652 1,432
Shareholders’ Equity 19,744 20,063
Total Liabilities and Shareholders’ Equity $53,543 $ 50,899
3
22. UNITEDHEALTH GROUP
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in millions)
(unaudited)
Three Months Ended March 31,
2008 2007
Operating Activities
Net Earnings $ 994 $ 927
Noncash Items:
Depreciation and amortization 225 191
Deferred income taxes and other 27 (136)
Share-based compensation 72 260
Net changes in operating assets and liabilities (1,038) 1,346
Cash Flows From Operating Activities (a) 280 2,588
Investing Activities
Cash paid for acquisitions, net of cash assumed (3,265) (54)
Purchases of property, equipment and capitalized software, net (212) (224)
Net purchases of investments (293) (534)
Cash Flows Used For Investing Activities (3,770) (812)
Financing Activities
Common stock repurchases (1,472) (903)
Net change in commercial paper and debt 1,858 (399)
Share-based compensation excess tax benefit 16 86
Customer funds administered 529 1,048
Other, net (31) 131
Cash Flows From (Used For) Financing Activities 900 (37)
(Decrease) Increase in cash and cash equivalents (2,590) 1,739
Cash and cash equivalents, beginning of period 8,865 10,320
Cash and cash equivalents, end of period $ 6,275 $ 12,059
(a) See Cash Flows From Operating Activities as adjusted for the timing of CMS premium payments on page 9 of these financial
schedules.
4
23. UNITEDHEALTH GROUP
SEGMENT FINANCIAL INFORMATION
(in millions)
(unaudited)
Three Months Ended March 31,
2008 2007
REVENUES
Health Care Services (a) $ 19,017 $ 18,056
OptumHealth 1,304 1,190
Ingenix 362 262
Prescription Solutions 3,206 3,379
Eliminations (3,585) (3,840)
Total Consolidated $ 20,304 $ 19,047
Three Months Ended March 31,
2008 2007
EARNINGS FROM OPERATIONS
Health Care Services $ 1,371 $ 1,458
OptumHealth 197 213
Ingenix 47 38
Prescription Solutions 98 49
Corporate — (176) (b)
Total Consolidated $ 1,713 $ 1,582
(a) Revenues for first quarter 2008 and first quarter 2007 were $10,363 and $10,052 for Commercial Markets (UnitedHealthcare
and Uniprise); $7,450 and $7,026 for Ovations; and $1,204 and $978 for AmeriChoice, respectively.
(b) Includes $87 million of Operating Costs for the settlement of Internal Revenue Code Section 409A (IRS Section 409A) surtax
liabilities on behalf of non-officer employees who exercised certain options in 2006 and 2007, and $89 million of non-cash
Operating Costs for the modification charge due to repricing unexercised options subject to IRS Section 409A.
5
24. UNITEDHEALTH GROUP
CUSTOMER PROFILE SUMMARY
(in thousands)
(unaudited)
March December March December
People Served 2008 2007 2007 2006
Commercial Risk-based 10,585 10,805 11,050 11,285
Commercial Fee-based 16,005 14,720 14,695 14,415
Total Commercial 26,590 25,525 25,745 25,700
Medicare Advantage 1,455 1,370 1,340 1,445
Medicaid 1,880 1,710 1,500 1,465
Standardized Medicare Supplement 2,450 2,400 2,315 2,275
Total Public and Senior (a) 5,785 5,480 5,155 5,185
Total Health Care Services Medical Benefits (b) 32,375 31,005 30,900 30,885
Total People Served (c) 73,070 70,950 70,970 70,680
Supplemental Data - included above
OptumHealth 60,400 58,700 57,800 56,600
Total Part D Prescription Drug Plans (d) 5,475 5,950 5,865 5,740
Consumer-Directed Health Plans 2,725 2,315 2,180 1,890
(a) Excludes pre-standardized Medicare Supplement and other AARP products. These products are included in Total People
Served.
(b) Includes 1,315,000 Commercial fee-based individuals served in connection with the acquisition of Fiserv Health, Inc. (Fiserv
Health) in January 2008. Also includes 310,000 Commercial risk-based, 60,000 Medicare Advantage, 60,000 Medicaid risk-
based and 10,000 Standardized Medicare Supplement individuals served in connection with the acquisition of Sierra Health
Services, Inc. (Sierra) in February 2008. Excludes 170,000 members affiliated with a large public sector employer that had
notified Fiserv Health (prior to acquisition) of its intent to terminate its relationship effective December 2008.
(c) Total People Served includes an additional 675,000 people receiving business processing and other services from Fiserv Health
on behalf of other payers.
(d) Includes 110,000 individuals served in connection with the acquisition of Sierra.
6
25. UNITEDHEALTH GROUP
Medical Care Ratios
(unaudited)
Three Months
Three Months Ended
Year Ended Ended
March 31, June 30, September 30, December 31, December 31, March 31,
2007 2007 2007 2007 2007 2008
UnitedHealthcare 81.2% 82.0% 81.6% 83.7% 82.1% 81.5%
Commercial Markets 81.8% 82.4% 82.0% 84.1% 82.6% 82.5%
7
26. UNITEDHEALTH GROUP
Reconciliation of Non-GAAP Financial Measures
Operating Results Excluding IRS Section 409A Charges (a)
(in millions, except per share data)
(unaudited)
Three Months Ended March 31, 2007
Operating Results
Excluding IRS
Consolidated Non-GAAP Section 409A
GAAP Reporting Reconciling Items Charges (a)
REVENUES
Premiums $ 17,464 $ — $ 17,464
Services 1,116 — 1,116
Products 197 — 197
Investment and Other Income 270 — 270
Total Revenues 19,047 — 19,047
OPERATING COSTS
Medical Costs 14,440 — 14,440
Operating Costs 2,664 (176) 2,488
Cost of Products Sold 170 — 170
Depreciation and Amortization 191 — 191
Total Operating Costs 17,465 (176) 17,289
1,582 176 1,758
EARNINGS FROM OPERATIONS
Interest Expense (116) — (116)
1,466 176 1,642
EARNINGS BEFORE INCOME TAXES
Provision for Income Taxes (539) (64) (603)
$ 927 $ 112 $ 1,039
NET EARNINGS
$ 0.66 $ 0.08 $ 0.74
DILUTED NET EARNINGS PER COMMON SHARE
Diluted Weighted-Average Common Shares Outstanding 1,399 — 1,399
82.7% 82.7%
Medical Care Ratio
14.0% 13.1%
Operating Cost Ratio
8.3% 9.2%
Operating Margin
(a) Operating results excluding IRS Section 409A charges is a non-GAAP measure that removes certain costs related to stock
option matters. Management believes that removing these costs improves the comparability of the Company’s results between
periods.
8
27. UNITEDHEALTH GROUP
Reconciliation of Non-GAAP Financial Measures
Adjusted Cash Flows from Operating Activities (a)
(in millions)
(unaudited)
Three Months Ended March 31,
2008 2007
GAAP Cash Flows From Operating Activities $ 280 $ 2,588
April 2007 CMS Premium Payment Received in March 2007 — (1,514)
Adjusted Cash Flows From Operating Activities (a) $ 280 $ 1,074
(a) Adjusted Cash Flows From Operating Activities is presented to facilitate the comparison of cash flows from operating activities
for periods in which the Company does not receive its monthly premium payments from the Centers for Medicare and Medicaid
Services (CMS) in the applicable quarter. CMS generally pays their monthly premium on the first calendar day of the applicable
month. If the first calendar day of the month falls on a weekend or a holiday, CMS has typically paid the Company on the last
business day of the preceding calendar month. As such, GAAP operating cash flows may vary depending upon which payments
are received by the Company from CMS during a particular period. Adjusted Cash Flows From Operating Activities presents
operating cash flows assuming that each monthly CMS premium payment was received on the first calendar day of the
applicable month.
9
28. UNITEDHEALTH GROUP
Reconciliation of Non-GAAP Financial Measures
Consolidated Reporting Excluding AARP (a)
(in millions)
(unaudited)
Quarter Ended Quarter Ended Quarter Ended
March 31, 2008 December 31, 2007 March 31, 2007
Consolidated Consolidated Consolidated
Consolidated Reporting Consolidated Reporting Consolidated Reporting
GAAP AARP Program Excluding GAAP AARP Program Excluding GAAP AARP Program Excluding
Reporting Balance AARP (a) Reporting Balance AARP (a) Reporting Balance AARP (a)
Accounts Receivable, net $ 1,934 $ 483 $ 1,451 $ 1,574 $ 459 $ 1,115 $ 1,311 $ 462 $ 849
Medical Costs Payable $ 8,537 $ 1,144 $ 7,393 $ 8,331 $ 1,109 $ 7,222 $ 8,554 $ 1,070 $ 7,484
Medical Costs $ 15,144 $ 1,247 $ 13,897 $ 13,551 $ 1,177 $ 12,374 $ 14,440 $ 1,179 $ 13,261
Medical Days Payable 51 84 48 57 87 54 53 82 51
Days Sales Outstanding 9 31 7 8 32 6 6 31 4
(a) Certain account balances and financial measures have been presented 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.
10
29. UNITEDHEALTH GROUP
2008 Revised Outlook as of April 22, 2008 1
($ and weighted average shares in millions, except per share data)
Operating Income
Business Revenue Range Range Margin Range
UnitedHealthcare and Uniprise $41,800 – $42,000
Ovations 28,000 – 28,250
AmeriChoice 5,800 – 6,000
Health Care Services $75,600 – $76,250 $5,950 – $6,070 7.8% – 8.0%
OptumHealth 5,250 – 5,300 860 – 880 16% – 17%
Ingenix 1,650 – 1,675 340 – 370 20% – 22%
Prescription Solutions 12,100 – 12,400 350 – 380 2.8% – 3.1%
Eliminations (13,600) – (13,875) — —
$81,000 – $81,750 $7,500 – $7,700 9.2% – 9.5%
Range
Consolidated UnitedHealth Group 2008 Targets
UnitedHealth Group Medical Care Ratio 81.3% ± 50 bps
Operating Cost Ratio 14.3% ± 30 bps
Service-based Revenues $5,100 – $5,300
Product Revenues $1,550 – $1,700
Investment and Other Income (Assuming $150 in Capital
Gains) $900 – $950
Depreciation / Amortization $960 – $980
Interest Expense $600 – $650
Tax Rate 36.00% – 36.25%
Diluted Weighted Average Shares 1,235 – 1,250
Earnings Per Share $3.55 – $3.60
Days Medical Costs Claims Payable (Consolidated) 50 – 54 days
Cash Flows from Operations $5,750 – $6,000
Share Repurchase $4,000
Capital Expenditures $900 – $1,000
Organic Membership Growth:
UnitedHealthcare and Uniprise:
Risk-Based Decline around (700,000) individuals
Fee-Based flat
Ovations Growth (Secure Horizons and Evercare
Medicare Advantage) 100,000 – 125,000 individuals
AmeriChoice Growth 85,000 – 100,000 individuals
1 Data reflect the anticipated closing of Unison Health Plans prior to the end of the second quarter of 2008. Data exclude any
potential gain on sale that may be recognized and related membership loss with the divestiture of our individual SecureHorizons
Medicare Advantage HMO plans in Clark and Nye counties in Nevada. No other pending acquisition activity is included in this
outlook.
11
30. Exhibit 99.2
NEWS RELEASE
Contact: Don Nathan
952-936-1885
(For Immediate Release)
DAVID S. WICHMANN NAMED PRESIDENT,
UNITEDHEALTH GROUP OPERATIONS
Minneapolis (April 22, 2008) – UnitedHealth Group (NYSE: UNH) today announced that David S. Wichmann has assumed the
position of executive vice president of UnitedHealth Group and president of UnitedHealth Group Operations. He will be charged with
optimizing business performance across UnitedHealth Group and within each of the market groups and business segments.
Mr. Wichmann will report to Stephen J. Hemsley, president and chief executive officer of UnitedHealth Group, and the Board of
Directors. In a separate press release today, the Company announced that Gail K. Boudreaux will join as executive vice president of
UnitedHealth Group and president of the Commercial Markets Group, effective May 5, 2008, the position previously held by
Mr. Wichmann.
“Dave’s contributions have been remarkable over the past decade and have prepared him to lead this operational charge to make
UnitedHealth Group a stronger organization,” said Mr. Hemsley. “Dave’s leadership skills, his intimate knowledge of the Company,
his understanding of the challenges we face in the marketplace and his strong operating skills make him the ideal person for this role.
We look forward to working with Dave in his efforts to advance our commitment to our customers and enhance the performance of
UnitedHealth Group for our shareholders.”
Today’s move is consistent with the Company’s longstanding practice of developing and rotating executive talent throughout the
organization to cultivate and maintain a deep and versatile leadership team at UnitedHealth Group.
In Mr. Wichmann’s newly expanded role, he will be dedicated to driving the necessary change across UnitedHealth Group for
improved performance at every level of the business. Mr. Wichmann’s direct accountabilities and priorities will include:
• Optimizing business performance across the UnitedHealth Group enterprise and within each of its market groups and
business segments;
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31. • Strengthening UnitedHealth Group’s organizational structure and helping to attract and place strong talent where necessary
to respond to the rising complexities of the businesses and to improve the speed of decision-making and innovation;
• Addressing areas of business unit and process alignment across the business groups, segments and units of the enterprise,
along with achieving consistent geographic alignment across all Health Care Services businesses so that UnitedHealth
Group faces local and regional markets and engages all stakeholders in an orderly, seamless fashion;
• Overseeing the Company’s operations, technology, integration and quality agenda in each business and on an enterprise
basis; and
• Managing corporate development, capital investment and deployment, international operations, strategic market
expansions, and all integration activities across the enterprise.
About UnitedHealth Group
UnitedHealth Group 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 seven operating businesses:
UnitedHealthcare, Ovations, AmeriChoice, Uniprise, OptumHealth, Ingenix, and Prescription Solutions. Through its family of
businesses, UnitedHealth Group serves approximately 70 million individuals nationwide.
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