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.
United Health Group [PDF Document] Form 8-K Related to Earnings Releasefinance3
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 Form 8-K Related to Earnings Releasefinance3
The document summarizes UnitedHealth Group's financial results for the fourth quarter and full year of 2008. Some key points:
1) UnitedHealth reported earnings from operations of $1.3 billion for Q4 2008 and $5.3 billion for the full year.
2) Full year results were adjusted for several one-time charges and benefits relating to legal settlements, asset sales, and restructuring costs.
3) Adjusted net earnings for 2008 were $3.0 billion, or $2.40 per share, compared to adjusted 2007 earnings of $7.8 billion.
4) Cash flows from operations for 2008 were $4.2 billion, or 1.4 times net
This document is the Form 10-Q quarterly report filed by Northern States Power Company (NSP-Minnesota) with the Securities and Exchange Commission for the quarter ended June 30, 2008. The report includes NSP-Minnesota's consolidated financial statements and notes. It summarizes NSP-Minnesota's operating revenues and expenses, income, cash flows, assets, liabilities, and equity for the quarter. The report also discusses NSP-Minnesota's significant accounting policies and recently issued accounting pronouncements.
- Northern States Power Co. filed a quarterly report on Form 10-Q with the SEC for the quarter ended March 31, 2008.
- It reported operating revenues of $1.27 billion for the quarter and net income of $64 million.
- The report includes Northern States Power's consolidated financial statements and notes, as well as management's discussion of financial results.
- 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
- The document is International Paper Company's Form 10-Q quarterly report filed with the SEC for the quarter ended June 30, 2002.
- It includes financial statements such as statements of earnings, balance sheets, and cash flows for the periods ended June 30, 2002 and 2001.
- It also includes management's discussion and analysis of financial condition and results of operations, quantitative and qualitative disclosures about market risk, legal proceedings, and other required disclosures.
This document is Northern States Power Company's (NSP-Minnesota) quarterly report filed with the SEC for the quarter ended March 31, 2007. It includes NSP-Minnesota's consolidated financial statements and notes. The financial statements show that for the quarter, NSP-Minnesota had operating revenues of $1.15 billion, net income of $42.5 million, and operating cash flows of $236.9 million. As of March 31, 2007, NSP-Minnesota had total assets of $9.17 billion and common stockholder's equity of $2.64 billion.
This document is International Paper Company's Form 10-Q quarterly report filed with the SEC for the quarter ended March 31, 2001. It includes:
1) Financial statements including the consolidated statement of earnings, balance sheet, cash flows, and shareholders' equity for the quarter. Revenues were $6.9 billion and net loss was $44 million.
2) Notes to the financial statements providing additional details on earnings per share calculations, recent mergers and acquisitions, and basis of presentation of the interim financial statements.
3) Management's discussion and analysis of financial condition and results of operations including details of business segment performance.
4) Certification that all required SEC filings have been made
United Health Group [PDF Document] Form 8-K Related to Earnings Releasefinance3
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 Form 8-K Related to Earnings Releasefinance3
The document summarizes UnitedHealth Group's financial results for the fourth quarter and full year of 2008. Some key points:
1) UnitedHealth reported earnings from operations of $1.3 billion for Q4 2008 and $5.3 billion for the full year.
2) Full year results were adjusted for several one-time charges and benefits relating to legal settlements, asset sales, and restructuring costs.
3) Adjusted net earnings for 2008 were $3.0 billion, or $2.40 per share, compared to adjusted 2007 earnings of $7.8 billion.
4) Cash flows from operations for 2008 were $4.2 billion, or 1.4 times net
This document is the Form 10-Q quarterly report filed by Northern States Power Company (NSP-Minnesota) with the Securities and Exchange Commission for the quarter ended June 30, 2008. The report includes NSP-Minnesota's consolidated financial statements and notes. It summarizes NSP-Minnesota's operating revenues and expenses, income, cash flows, assets, liabilities, and equity for the quarter. The report also discusses NSP-Minnesota's significant accounting policies and recently issued accounting pronouncements.
- Northern States Power Co. filed a quarterly report on Form 10-Q with the SEC for the quarter ended March 31, 2008.
- It reported operating revenues of $1.27 billion for the quarter and net income of $64 million.
- The report includes Northern States Power's consolidated financial statements and notes, as well as management's discussion of financial results.
- 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
- The document is International Paper Company's Form 10-Q quarterly report filed with the SEC for the quarter ended June 30, 2002.
- It includes financial statements such as statements of earnings, balance sheets, and cash flows for the periods ended June 30, 2002 and 2001.
- It also includes management's discussion and analysis of financial condition and results of operations, quantitative and qualitative disclosures about market risk, legal proceedings, and other required disclosures.
This document is Northern States Power Company's (NSP-Minnesota) quarterly report filed with the SEC for the quarter ended March 31, 2007. It includes NSP-Minnesota's consolidated financial statements and notes. The financial statements show that for the quarter, NSP-Minnesota had operating revenues of $1.15 billion, net income of $42.5 million, and operating cash flows of $236.9 million. As of March 31, 2007, NSP-Minnesota had total assets of $9.17 billion and common stockholder's equity of $2.64 billion.
This document is International Paper Company's Form 10-Q quarterly report filed with the SEC for the quarter ended March 31, 2001. It includes:
1) Financial statements including the consolidated statement of earnings, balance sheet, cash flows, and shareholders' equity for the quarter. Revenues were $6.9 billion and net loss was $44 million.
2) Notes to the financial statements providing additional details on earnings per share calculations, recent mergers and acquisitions, and basis of presentation of the interim financial statements.
3) Management's discussion and analysis of financial condition and results of operations including details of business segment performance.
4) Certification that all required SEC filings have been made
This document is Xcel Energy's quarterly report filed with the SEC for the period ending March 31, 2006. It includes Xcel Energy's consolidated statements of income, cash flows, and balance sheets for the quarter, as well as notes to the financial statements. The report indicates that Xcel Energy's net income for the quarter was $151 million, with earnings per share of $0.37. Operating revenues increased over the same period the previous year. Total assets as of March 31, 2006 were $21.1 billion and total liabilities were $10.2 billion.
This document is a quarterly report filed by Southwestern Public Service Company (SPS) with the Securities and Exchange Commission for the quarter ended March 31, 2007. It includes SPS's unaudited financial statements and notes. The financial statements show that SPS had operating revenues of $365.9 million for the quarter, with net income of $1.7 million. Cash provided by operating activities was $16.7 million. Total assets as of March 31, 2007 were $2.58 billion, with long-term debt of $773.9 million and common stockholder's equity of $779.5 million.
This document is International Paper Company's Form 10-Q quarterly report filed with the SEC for the quarter ended June 30, 2001. It includes International Paper's consolidated financial statements and notes for the quarter. The financial statements show a net loss of $313 million for the quarter compared to net earnings of $270 million in the prior year period. Revenues decreased slightly to $6.7 billion for the quarter from $6.8 billion in the prior year. Costs and expenses increased to $6.9 billion from $6.1 billion due primarily to restructuring and impairment charges.
This document is Xcel Energy's quarterly report filed with the SEC for the quarter ending March 31, 2005. It includes Xcel Energy's consolidated statements of operations, cash flows, and balance sheets for the quarter. The statements show that Xcel Energy had net income of $121.5 million for the quarter, operating revenues of $2.4 billion, and total assets of $20.3 billion as of March 31, 2005. It also provides details on common stockholders' equity, commitments and contingencies, and other financial details.
United Health Group Form 8-K Related to Earnings Releasefinance3
UnitedHealth Group issued a press release discussing their second quarter 2005 results. The press release contained forward-looking statements and disclosed non-GAAP financial measures including results excluding their AARP business and adjusted operating cash flows. Management believes these non-GAAP measures provide useful information to investors. The press release also noted several risk factors that could cause actual results to differ from forward-looking statements such as increases in health care costs, competition, changes in laws and regulations, and other uncertainties.
This document is an SEC Form 10-Q filing from Xcel Energy Inc. for the quarterly period ended March 31, 2007. It includes: consolidated statements of income, cash flows, and balance sheets; notes to the financial statements; and certifications. The financial statements show operating revenues of $2.8 billion, operating expenses of $2.5 billion, income from continuing operations of $118.5 million, and net income of $119.7 million for the quarter.
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.
This document is the Form 10-Q quarterly report filed by Southwestern Public Service Company (SPS) with the Securities and Exchange Commission for the quarter ended June 30, 2008. The summary includes SPS's financial statements for the quarter, including statements of income, cash flows, and balance sheets. It also provides notes on SPS's significant accounting policies and recently issued accounting pronouncements. Key information includes operating revenues of $537.9 million for the quarter and net income of $4 million. Total assets were $2.77 billion and total liabilities and equity were also $2.77 billion as of June 30, 2008.
This document is NSP-Minnesota's Form 10-Q filing for the quarterly period ending March 31, 2006. It provides condensed financial statements and disclosures. Specifically, it summarizes NSP-Minnesota's consolidated statements of income and cash flows, which show net income of $58.9 million for the quarter on revenues of $1.1 billion, compared to net income of $41.6 million on revenues of $943.5 million in the prior year period. It also discloses operating expenses, interest charges, and tax expenses for the periods. The cash flow statement indicates changes in various asset and liability line items between the periods.
This document is SunTrust Banks' Form 10-Q quarterly report filed with the SEC for the quarter ended June 30, 2002. It includes SunTrust's consolidated financial statements such as the income statement, balance sheet, cash flows, and shareholders' equity. It also includes notes to the financial statements and discussions of financial condition, results of operations, market risk, legal proceedings, and other information. SunTrust is a bank holding company headquartered in Atlanta, Georgia.
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.
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
This document is International Paper Company's Form 10-Q quarterly report filed with the SEC for the quarter ended March 31, 2002. It includes International Paper's consolidated financial statements for the quarter, including statements of earnings, balance sheets, cash flows, and shareholders' equity. It also includes management's discussion and analysis of the financial results, quantitative and qualitative disclosures about market risk, legal proceedings information, and certifications.
This document is a quarterly report filed with the SEC by Southwestern Public Service Company (SPS) for the quarter ending March 31, 2006. It includes SPS's financial statements and notes. SPS is a wholly owned subsidiary of Xcel Energy Inc. that provides electric service in parts of Texas and New Mexico. The report indicates that SPS is currently involved in several regulatory proceedings regarding its wholesale transmission and power rates.
- 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.
- Eastman Kodak Company filed a Form 10-Q quarterly report for the period ending March 31, 2008 with the SEC.
- The report includes financial statements such as the consolidated statement of operations, retained earnings, and financial position as well as management's discussion and analysis of financial condition and results of operations.
- For the quarter, Kodak reported a net loss of $115 million compared to a net loss of $151 million in the same period the previous year.
This document is Berkshire Hathaway's quarterly report filed with the SEC for the third quarter of 2008. It includes Berkshire's consolidated balance sheet, earnings statement, and cash flow statement for various periods in 2008. Some key details are:
- Revenues for the third quarter were $27.9 billion, with net earnings of $1.06 billion.
- Total assets at the end of the third quarter were $281.7 billion, with total liabilities of $157.2 billion.
- Cash flow from operations was $8.4 billion for the first nine months, but overall cash decreased by $11 billion due to large investments in fixed assets and acquisitions.
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 $
- Southwestern Public Service Company filed a quarterly report on Form 10-Q for the period ending March 31, 2006 with the SEC.
- For the quarter, the company reported operating revenues of $412.8 million and net income of $11.9 million.
- Key financial details included in the filing were the statements of income and cash flows for the quarter, which showed changes in items like operating expenses, generation fuel costs, taxes and cash used/provided by operating, investing and financing activities.
- 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.
This document is Eastman Kodak Company's Form 10-Q filing for the quarter ended June 30, 2008. It includes the company's consolidated financial statements and notes. Key details include:
- Net sales for the quarter were $2.485 billion and net earnings were $495 million.
- Cash and cash equivalents totaled $2.308 billion as of June 30, 2008.
- Total assets were $13.032 billion and total liabilities were $9.509 billion.
This document is the Form 10-Q quarterly report filed by Southwestern Public Service Company (SPS) with the Securities and Exchange Commission for the quarter ended June 30, 2008. The summary includes SPS's financial statements for the quarter, including statements of income, cash flows, and balance sheets. It also provides notes on SPS's significant accounting policies and recently issued accounting pronouncements. Key information includes operating revenues of $537.9 million for the quarter and net income of $4 million. Total assets were $2.77 billion and total liabilities and equity were also $2.77 billion as of June 30, 2008.
This document is Xcel Energy's quarterly report filed with the SEC for the period ending March 31, 2006. It includes Xcel Energy's consolidated statements of income, cash flows, and balance sheets for the quarter, as well as notes to the financial statements. The report indicates that Xcel Energy's net income for the quarter was $151 million, with earnings per share of $0.37. Operating revenues increased over the same period the previous year. Total assets as of March 31, 2006 were $21.1 billion and total liabilities were $10.2 billion.
This document is a quarterly report filed by Southwestern Public Service Company (SPS) with the Securities and Exchange Commission for the quarter ended March 31, 2007. It includes SPS's unaudited financial statements and notes. The financial statements show that SPS had operating revenues of $365.9 million for the quarter, with net income of $1.7 million. Cash provided by operating activities was $16.7 million. Total assets as of March 31, 2007 were $2.58 billion, with long-term debt of $773.9 million and common stockholder's equity of $779.5 million.
This document is International Paper Company's Form 10-Q quarterly report filed with the SEC for the quarter ended June 30, 2001. It includes International Paper's consolidated financial statements and notes for the quarter. The financial statements show a net loss of $313 million for the quarter compared to net earnings of $270 million in the prior year period. Revenues decreased slightly to $6.7 billion for the quarter from $6.8 billion in the prior year. Costs and expenses increased to $6.9 billion from $6.1 billion due primarily to restructuring and impairment charges.
This document is Xcel Energy's quarterly report filed with the SEC for the quarter ending March 31, 2005. It includes Xcel Energy's consolidated statements of operations, cash flows, and balance sheets for the quarter. The statements show that Xcel Energy had net income of $121.5 million for the quarter, operating revenues of $2.4 billion, and total assets of $20.3 billion as of March 31, 2005. It also provides details on common stockholders' equity, commitments and contingencies, and other financial details.
United Health Group Form 8-K Related to Earnings Releasefinance3
UnitedHealth Group issued a press release discussing their second quarter 2005 results. The press release contained forward-looking statements and disclosed non-GAAP financial measures including results excluding their AARP business and adjusted operating cash flows. Management believes these non-GAAP measures provide useful information to investors. The press release also noted several risk factors that could cause actual results to differ from forward-looking statements such as increases in health care costs, competition, changes in laws and regulations, and other uncertainties.
This document is an SEC Form 10-Q filing from Xcel Energy Inc. for the quarterly period ended March 31, 2007. It includes: consolidated statements of income, cash flows, and balance sheets; notes to the financial statements; and certifications. The financial statements show operating revenues of $2.8 billion, operating expenses of $2.5 billion, income from continuing operations of $118.5 million, and net income of $119.7 million for the quarter.
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.
This document is the Form 10-Q quarterly report filed by Southwestern Public Service Company (SPS) with the Securities and Exchange Commission for the quarter ended June 30, 2008. The summary includes SPS's financial statements for the quarter, including statements of income, cash flows, and balance sheets. It also provides notes on SPS's significant accounting policies and recently issued accounting pronouncements. Key information includes operating revenues of $537.9 million for the quarter and net income of $4 million. Total assets were $2.77 billion and total liabilities and equity were also $2.77 billion as of June 30, 2008.
This document is NSP-Minnesota's Form 10-Q filing for the quarterly period ending March 31, 2006. It provides condensed financial statements and disclosures. Specifically, it summarizes NSP-Minnesota's consolidated statements of income and cash flows, which show net income of $58.9 million for the quarter on revenues of $1.1 billion, compared to net income of $41.6 million on revenues of $943.5 million in the prior year period. It also discloses operating expenses, interest charges, and tax expenses for the periods. The cash flow statement indicates changes in various asset and liability line items between the periods.
This document is SunTrust Banks' Form 10-Q quarterly report filed with the SEC for the quarter ended June 30, 2002. It includes SunTrust's consolidated financial statements such as the income statement, balance sheet, cash flows, and shareholders' equity. It also includes notes to the financial statements and discussions of financial condition, results of operations, market risk, legal proceedings, and other information. SunTrust is a bank holding company headquartered in Atlanta, Georgia.
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.
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
This document is International Paper Company's Form 10-Q quarterly report filed with the SEC for the quarter ended March 31, 2002. It includes International Paper's consolidated financial statements for the quarter, including statements of earnings, balance sheets, cash flows, and shareholders' equity. It also includes management's discussion and analysis of the financial results, quantitative and qualitative disclosures about market risk, legal proceedings information, and certifications.
This document is a quarterly report filed with the SEC by Southwestern Public Service Company (SPS) for the quarter ending March 31, 2006. It includes SPS's financial statements and notes. SPS is a wholly owned subsidiary of Xcel Energy Inc. that provides electric service in parts of Texas and New Mexico. The report indicates that SPS is currently involved in several regulatory proceedings regarding its wholesale transmission and power rates.
- 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.
- Eastman Kodak Company filed a Form 10-Q quarterly report for the period ending March 31, 2008 with the SEC.
- The report includes financial statements such as the consolidated statement of operations, retained earnings, and financial position as well as management's discussion and analysis of financial condition and results of operations.
- For the quarter, Kodak reported a net loss of $115 million compared to a net loss of $151 million in the same period the previous year.
This document is Berkshire Hathaway's quarterly report filed with the SEC for the third quarter of 2008. It includes Berkshire's consolidated balance sheet, earnings statement, and cash flow statement for various periods in 2008. Some key details are:
- Revenues for the third quarter were $27.9 billion, with net earnings of $1.06 billion.
- Total assets at the end of the third quarter were $281.7 billion, with total liabilities of $157.2 billion.
- Cash flow from operations was $8.4 billion for the first nine months, but overall cash decreased by $11 billion due to large investments in fixed assets and acquisitions.
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 $
- Southwestern Public Service Company filed a quarterly report on Form 10-Q for the period ending March 31, 2006 with the SEC.
- For the quarter, the company reported operating revenues of $412.8 million and net income of $11.9 million.
- Key financial details included in the filing were the statements of income and cash flows for the quarter, which showed changes in items like operating expenses, generation fuel costs, taxes and cash used/provided by operating, investing and financing activities.
- 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.
This document is Eastman Kodak Company's Form 10-Q filing for the quarter ended June 30, 2008. It includes the company's consolidated financial statements and notes. Key details include:
- Net sales for the quarter were $2.485 billion and net earnings were $495 million.
- Cash and cash equivalents totaled $2.308 billion as of June 30, 2008.
- Total assets were $13.032 billion and total liabilities were $9.509 billion.
This document is the Form 10-Q quarterly report filed by Southwestern Public Service Company (SPS) with the Securities and Exchange Commission for the quarter ended June 30, 2008. The summary includes SPS's financial statements for the quarter, including statements of income, cash flows, and balance sheets. It also provides notes on SPS's significant accounting policies and recently issued accounting pronouncements. Key information includes operating revenues of $537.9 million for the quarter and net income of $4 million. Total assets were $2.77 billion and total liabilities and equity were also $2.77 billion as of June 30, 2008.
- Southwestern Public Service Company (SPS) filed a quarterly report on Form 10-Q with the SEC for the quarter ended March 31, 2008.
- SPS operates as a public utility in Texas and New Mexico, providing electricity to residential, commercial, and industrial customers.
- For the quarter, SPS reported a net loss of $1.3 million compared to net income of $1.7 million in the prior year quarter. Total operating revenues increased 14.4% to $418.8 million due to higher electric fuel and purchased power costs.
- Southwestern Public Service Company (SPS) filed a quarterly report on Form 10-Q with the SEC for the quarter ended March 31, 2008.
- SPS operates as a public utility in Texas and New Mexico, providing electricity to residential, commercial, and industrial customers.
- For the quarter, SPS reported a net loss of $1.3 million compared to net income of $1.7 million in the prior year quarter. Total operating revenues increased 14.4% to $418.8 million due to higher electric fuel and purchased power costs.
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.
This document is a quarterly report filed by UniFirst Corporation with the SEC for the quarter ended May 30, 2009. It includes UniFirst's consolidated financial statements and notes. The financial statements show that for the quarter, UniFirst reported revenues of $252 million, income from operations of $36.7 million, net income of $21.7 million, and basic earnings per share of $1.18 on common stock. The balance sheet details the company's assets, liabilities, and shareholders' equity as of May 30, 2009.
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.
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
This document is Masco Corporation's annual report (Form 10-K) filed with the SEC for the fiscal year ending December 31, 2004. It provides an overview of Masco's business operations, including its five business segments: Cabinets and Related Products, Plumbing Products, Installation and Other Services, Decorative Architectural Products, and Other Specialty Products. It summarizes the net sales and operating profit of each segment for the years 2004, 2003, and 2002. Masco operates primarily in North America, with some international operations as well, and is a leading manufacturer of brand name products for home improvement and building markets.
This document is a quarterly financial report filed with the SEC by Linear Technology Corporation for the quarter ended September 28, 2008. It includes Linear Technology's consolidated statements of income, balance sheets, cash flows, and notes to the financial statements. The financial statements show that for the quarter, Linear Technology reported revenues of $310 million, net income of $108 million, and basic earnings per share of $0.49. As of September 28, 2008, the company held $195 million in cash and cash equivalents and $827 million in marketable securities.
This 10-Q filing by Sunoco Inc. provides:
1) Unaudited quarterly financial statements for the periods ended September 30, 2008 and 2007 including income statements, balance sheets, and cash flow statements along with accompanying notes.
2) A discussion and analysis of Sunoco's financial condition and results of operations for the periods.
3) Disclosure of legal proceedings, risks factors, and controls and procedures.
This document is Southwestern Public Service Company's Form 10-Q quarterly report filed with the SEC for the quarter ended September 30, 2008. It includes:
1) Financial statements showing operating revenues increased from the prior year quarter and year-to-date periods, while net income decreased slightly year-over-year.
2) Management's discussion and analysis of financial results, focusing on factors influencing revenues, expenses, and earnings.
3) Disclosure of controls and procedures to ensure the financial statements are fairly presented.
The report provides required public disclosures of the company's financial position and performance for the period.
This document is Southwestern Public Service Company's Form 10-Q quarterly report filed with the SEC for the quarter ended September 30, 2008. It includes:
1) Financial statements showing operating revenues increased from the prior year quarter and year-to-date periods, while net income decreased slightly year-over-year.
2) Management's discussion and analysis of financial results, focusing on factors influencing revenues, expenses, and earnings.
3) Disclosure of controls and procedures to ensure the financial statements are fairly presented.
The report provides required public disclosures of the company's financial position and performance for the quarter.
This 10-Q filing by Sunoco Inc. provides:
1) Financial statements for the quarter ending March 31, 2008 including income statements, balance sheets, and cash flow statements along with accompanying notes.
2) Management's discussion and analysis of financial condition and results of operations.
3) Disclosures around market risk, controls and procedures, legal proceedings, risk factors, and other information. The filing includes signatures and exhibits such as CEO/CFO certifications.
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.
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
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/
Vicinity Jobs’ data includes more than three million 2023 OJPs and thousands of skills. Most skills appear in less than 0.02% of job postings, so most postings rely on a small subset of commonly used terms, like teamwork.
Laura Adkins-Hackett, Economist, LMIC, and Sukriti Trehan, Data Scientist, LMIC, presented their research exploring trends in the skills listed in OJPs to develop a deeper understanding of in-demand skills. This research project uses pointwise mutual information and other methods to extract more information about common skills from the relationships between skills, occupations and regions.
5 Tips for Creating Standard Financial ReportsEasyReports
Well-crafted financial reports serve as vital tools for decision-making and transparency within an organization. By following the undermentioned tips, you can create standardized financial reports that effectively communicate your company's financial health and performance to stakeholders.
[4:55 p.m.] Bryan Oates
OJPs are becoming a critical resource for policy-makers and researchers who study the labour market. LMIC continues to work with Vicinity Jobs’ data on OJPs, which can be explored in our Canadian Job Trends Dashboard. Valuable insights have been gained through our analysis of OJP data, including LMIC research lead
Suzanne Spiteri’s recent report on improving the quality and accessibility of job postings to reduce employment barriers for neurodivergent people.
Decoding job postings: Improving accessibility for neurodivergent job seekers
Improving the quality and accessibility of job postings is one way to reduce employment barriers for neurodivergent people.
2. Elemental Economics - Mineral demand.pdfNeal Brewster
After this second you should be able to: Explain the main determinants of demand for any mineral product, and their relative importance; recognise and explain how demand for any product is likely to change with economic activity; recognise and explain the roles of technology and relative prices in influencing demand; be able to explain the differences between the rates of growth of demand for different products.
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...AntoniaOwensDetwiler
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
Fabular Frames and the Four Ratio ProblemMajid Iqbal
Digital, interactive art showing the struggle of a society in providing for its present population while also saving planetary resources for future generations. Spread across several frames, the art is actually the rendering of real and speculative data. The stereographic projections change shape in response to prompts and provocations. Visitors interact with the model through speculative statements about how to increase savings across communities, regions, ecosystems and environments. Their fabulations combined with random noise, i.e. factors beyond control, have a dramatic effect on the societal transition. Things get better. Things get worse. The aim is to give visitors a new grasp and feel of the ongoing struggles in democracies around the world.
Stunning art in the small multiples format brings out the spatiotemporal nature of societal transitions, against backdrop issues such as energy, housing, waste, farmland and forest. In each frame we see hopeful and frightful interplays between spending and saving. Problems emerge when one of the two parts of the existential anaglyph rapidly shrinks like Arctic ice, as factors cross thresholds. Ecological wealth and intergenerational equity areFour at stake. Not enough spending could mean economic stress, social unrest and political conflict. Not enough saving and there will be climate breakdown and ‘bankruptcy’. So where does speculative design start and the gambling and betting end? Behind each fabular frame is a four ratio problem. Each ratio reflects the level of sacrifice and self-restraint a society is willing to accept, against promises of prosperity and freedom. Some values seem to stabilise a frame while others cause collapse. Get the ratios right and we can have it all. Get them wrong and things get more desperate.
OJP data from firms like Vicinity Jobs have emerged as a complement to traditional sources of labour demand data, such as the Job Vacancy and Wages Survey (JVWS). Ibrahim Abuallail, PhD Candidate, University of Ottawa, presented research relating to bias in OJPs and a proposed approach to effectively adjust OJP data to complement existing official data (such as from the JVWS) and improve the measurement of labour demand.
Bridging the gap: Online job postings, survey data and the assessment of job ...
United Health Group[PDF Document] Form 8-K Related to Earnings Release
1. ˆ13=SPL1YRVW5LSGÅŠ 13=SPL1YRVW5LSG
ACWIN-CTXP78
UNITEDHEALTH GROUP I RR Donnelley ProFile ECR andiv0dc 22-Jul-2008 01:49 EST 14731 TX 1 1*
10.0
FORM 8-K MIN HTM IFV 0C
Page 1 of 1
UNITED STATES
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): July 22, 2008
UNITEDHEALTH GROUP INCORPORATED
(Exact name of registrant as specified in its charter)
Minnesota 1-10864 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. ˆ13=SPL1YRVWCQ2GjŠ 13=SPL1YRVWCQ2G
ACWIN-CTXP78
UNITEDHEALTH GROUP I RR Donnelley ProFile ECR andiv0dc 22-Jul-2008 01:49 EST 14731 TX 2 1*
10.0
FORM 8-K MIN HTM IFV 0C
Page 1 of 1
Item 2.02. Results of Operations and Financial Condition.
On July 22, 2008, UnitedHealth Group Incorporated (the “Company”) issued a press release announcing its second quarter 2008
results. A copy of the press release is furnished herewith as Exhibit 99.1 and incorporated herein by reference.
The press release contains the following non-GAAP financial measures for second quarter and full-year 2008, which exclude the
impacts of the proposed settlement of the securities and Employee Retirement Income Security Act class action lawsuits related to the
Company’s historical stock option practices and related legal costs, a pre-tax operating cost charge for employee severance related to
operating cost reduction initiatives and other items, and a pre-tax reduction in operating costs for proceeds from the sale of certain
assets and membership in the individual Medicare Advantage business in Nevada in May 2008: adjusted second quarter 2008
operating cost ratio, adjusted second quarter 2008 operating margin, adjusted second quarter 2008 earnings from operations, adjusted
second quarter 2008 tax rate, adjusted second quarter 2008 net earnings, adjusted second quarter 2008 diluted net earnings per
common share, adjusted full-year 2008 operating cost ratio estimate, adjusted full-year 2008 earnings from operations estimate,
adjusted full-year 2008 operating margin estimate, adjusted full-year 2008 tax rate estimate, adjusted full-year 2008 diluted net
earnings per common share estimate, and adjusted full-year 2008 cash flows from operations estimate. The most directly comparable
GAAP financial measures to these non-GAAP measures are as follows, respectively:
Second quarter 2008 operating cost ratio 18.5%
Second quarter 2008 operating margin 3.3%
Second quarter 2008 earnings from operations $673 million
Second quarter 2008 tax rate 33.8%
Second quarter 2008 net earnings $337 million
Second quarter 2008 diluted net earnings per common share $0.27
Full-year 2008 operating cost ratio estimate 15.5% ± 20 basis points
Full-year 2008 earnings from operations estimate Approximately $5.75 billion
Full-year 2008 operating margin estimate Approximately 7%
Full-year 2008 tax rate estimate 35.55% to 35.80%
Full-year 2008 diluted net earnings per common share estimate $2.55 to $2.65
Full-year 2008 cash flows from operations estimate Approaching $4.4 billion
Reconciliations of the non-GAAP financial measures to the most directly comparable GAAP financial measures are attached to the
press release.
The information in this Item 2.02 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 9.01. Financial Statements and Exhibits.
Exhibit Description
99.1 Press Release dated July 22, 2008
2
3. ˆ13=SPL1YRVWVZCGGŠ
13=SPL1YRVWVZCG
ACWIN-CTXP78
UNITEDHEALTH GROUP I RR Donnelley ProFile ECR andiv0dc 22-Jul-2008 01:49 EST 14731 TX 3 1*
10.0
FORM 8-K MIN HTM IFV 0C
Page 1 of 1
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: July 22, 2008
UNITEDHEALTH GROUP INCORPORATED
By: /s/ Christopher J. Walsh
Christopher J. Walsh
Senior Vice President, Deputy General Counsel
and Assistant Corporate Secretary
3
4. ˆ13=SPL1YRVWZ00GÇŠ
13=SPL1YRVWZ00G
ACWIN-CTXP78
UNITEDHEALTH GROUP I RR Donnelley ProFile ECR andiv0dc 22-Jul-2008 01:49 EST 14731 TX 4 1*
10.0
FORM 8-K MIN HTM IFV 0C
Page 1 of 1
EXHIBIT INDEX
Exhibit Description
99.1 Press Release dated July 22, 2008
4
5. ˆ13=SPL1YRW9ZMHGpŠ 13=SPL1YRW9ZMHG
ACWIN-CTXP78
UNITEDHEALTH GROUP I RR Donnelley ProFile ECR andiv0dc 22-Jul-2008 01:52 EST 14731 EX99_1 1 2*
10.0.15
img001
FORM 8-K MIN HTM ESS 0C
Page 1 of 1
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 SECOND QUARTER RESULTS
• Revenues Increased 7% to $20.3 Billion
• People Served Increased 2 Million to 73 Million
Adjusted Operating Margin of 7.2% 1
•
Adjusted Net Earnings of $0.67 Per Share 1
•
MINNEAPOLIS (July 22, 2008) – UnitedHealth Group (NYSE: UNH) today reported its second quarter results, which included
year-over-year gains in people served and revenues. Adjusting for special items, second quarter net earnings per share exceeded the
Company’s revised outlook provided in early July 2008. Special items included legal settlements, employee severance costs and the
sale of certain Nevada senior market assets.
1 Reported second quarter 2008 earnings were $0.27 per share on a GAAP basis. Certain second quarter and full year 2008
numbers have been adjusted to exclude a pre-tax operating cost charge of $922 million ($0.47 per share after tax) for settlement
of two class action lawsuits related to the Company’s historical stock option practices and related legal costs, a $46 million pre-
tax operating cost charge ($0.02 per share after tax) for employee severance related to operating cost reduction initiatives and
other items, partially offset by a $185 million pre-tax reduction in second quarter operating costs ($0.09 per share after tax) for
proceeds from the sale of certain assets and membership in the individual Medicare Advantage business in Nevada in May 2008.
Such adjusted numbers are non-GAAP financial measures. Further explanation of these non-GAAP measures and
reconciliations to the comparable GAAP measures are included in the attached reconciliation schedules.
Page 1 of 11
6. ˆ13=SPL1YRVTGNZGÊ
13=SPL1YRVTGNZG
ACWIN-CTXP78
UNITEDHEALTH GROUP I RR Donnelley ProFile ECR andiv0dc 22-Jul-2008 01:49 EST 14731 EX99_1 2 1*
10.0
FORM 8-K MIN HTM IFV 0C
Page 1 of 1
UnitedHealth Group – continued
Stephen J. Hemsley, president and chief executive officer of UnitedHealth Group, said, “During the first and second quarters we
initiated important actions to improve our performance, and we are seeing progress on those actions that we expect will strengthen
our Company and our future financial results.” Actions taken include leadership and business alignment changes at UnitedHealthcare
and Ovations and in certain enterprise functions that strengthen the Company’s level of engagement and stakeholder relationships in
local markets, improve responsiveness, and decrease operating costs. Additional steps include benefit revisions for 2009 Medicare
offerings that are expected to improve margins in certain Medicare Part D and Special Needs Plan offerings; strengthened commercial
market pricing disciplines for risk-based offerings; broad-based efforts to properly match the size of the workforce and the operating
cost structure with the current growth profile of our businesses; and substantive progress in addressing historical legal matters.
“A number of areas of strength reflect the benefits of our diversified businesses and strategy,” continued Hemsley. “Our public sector
Medicaid business is building toward record organic revenue growth in 2009; our fee-based benefits businesses are stable and ahead
of original 2008 membership plans; and generic pharmaceutical utilization and mail service usage by customers of our pharmacy
benefit management business are up sharply. Our Medicare supplement products are growing steadily and our health information
technology and service offerings continue to produce solid growth as well.”
Outlook
The Company continues to anticipate full year 2008 net earnings per share in the range of $2.95 to $3.05 per share1 and cash flows
from operations approaching $5 billion 1, as adjusted. The Company expects to continue its substantive share repurchase program over
the course of 2008, with a total of more than $3 billion in repurchase activity planned for the full year, after considering cash
payments for legal settlements.
Page 2 of 11
7. ˆ13=SPL1YS59K1LGuŠ 13=SPL1YS59K1LG
ACWIN-CTXP81
UNITEDHEALTH GROUP I RR Donnelley ProFile ECR rajis0dc 22-Jul-2008 03:25 EST 14731 EX99_1 3 4*
10.0.15
img002
FORM 8-K MIN HTM ESS 0C
Page 1 of 1
Quarterly Financial Performance
Three Months Ended
June 30, June 30, March 31,
2008 2007 2008
Revenues $20.27 billion $19.00 billion $20.30 billion
Earnings From Operations $ 1.46 billion1 $ 2.07 billion $ 1.71 billion
Operating Margin 7.2%1 10.9% 8.4%
Given the diversity and mix of the business and seasonality considerations, management believes year-over-year comparisons are the
most meaningful. Sequential quarterly comparisons are affected by the seasonality of revenues, medical expenses, operating costs and
earnings from operations in important business lines such as Medicare Part D drug programs, high deductible insurance products and
health informatics offerings.
UnitedHealth Group Highlights
• As adjusted, second quarter net earnings per share were $0.67, a decrease of 25 percent from the prior year second quarter.
• Consolidated second quarter revenues of $20.3 billion increased $1.3 billion or 7 percent year-over-year. UnitedHealth
Group served 73 million people as of June 30, 2008, an increase of 2 million people year-over-year.
Adjusted earnings from operations were $1.5 billion and adjusted net earnings were $830 million 1, which represented
•
decreases of 30 percent and 32 percent, respectively, from the prior year. The consolidated operating margin of 7.2 percent,
as adjusted, decreased 370 basis points from the prior year. These decreases were primarily driven by a reduction in gross
margin in UnitedHealthcare commercial risk products and certain Ovations health benefit products for seniors, as well as
year-over-year increases in the level of operating costs and a year-over-year reduction in investment income.
Page 3 of 11
8. ˆ13=SPL1YRVTVWLG}Š
13=SPL1YRVTVWLG
ACWIN-CTXP78
UNITEDHEALTH GROUP I RR Donnelley ProFile ECR andiv0dc 22-Jul-2008 01:49 EST 14731 EX99_1 4 1*
10.0
FORM 8-K MIN HTM IFV 0C
Page 1 of 1
UnitedHealth Group Highlights – Continued
• The consolidated medical care ratio of 83.2 percent increased 290 basis points year-over-year, driven by increased medical
care ratios for certain senior market products and an increase in the UnitedHealthcare medical care ratio. The Company
continues to estimate the full year 2008 consolidated medical care ratio to be in the range of 82.5 percent, plus or minus 50
basis points.
• During the second quarter of 2008 the Company had no net change to its estimates of medical costs incurred in 2007 or in
the first quarter of 2008. This compares to a total of $110 million in favorable development of estimates of medical costs
incurred realized in the second quarter of 2007, primarily from medical costs incurred in 2006.
Second quarter 2008 operating costs were 14.6 percent 1 of revenue as adjusted, an increase of 90 basis points from the
•
second quarter of 2007. Business mix changes, including the acquisition of Fiserv Health, added nearly 30 basis points to
this ratio year-over-year in the second quarter of 2008. As previously disclosed, the Company is reducing its run-rate
operating costs while maintaining commitments to service, growth and innovation.
The second quarter income tax rate was 35.8 percent 1 as adjusted, with the year-over-year and sequential decreases due to
•
an increased proportion of tax-free investment income to total earnings.
• Consolidated medical costs days payable were 53 days for the second quarter of 2008, compared to 51 days in the first
quarter of 2008 and 55 days in the second quarter of 2007. The year-over-year decrease 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.
• Cash flows from operations were $600 million versus $1.7 billion in the second quarter of 2007. The decrease in cash
flows from operations primarily reflects a change in the timing of approximately $700 million in income tax payments
between years and the return of $170 million in retained deposits to a customer in the second quarter of 2008, as well as the
year-over-year decrease in net earnings.
• Second quarter consolidated revenues included approximately $50 million in realized net capital gains, as expected. These
gains were more than offset by lower investment yields and decreased investment balances year-over-year.
• UnitedHealth Group strengthened its competitive position in the second quarter through the acquisition of Unison, a
leading participant in the state Medicaid market, and a minority investment in Sedgwick Claims Management Services, a
leader in integrated claims and productivity management services for large employers.
• The Company repurchased 17 million shares during the second quarter of 2008, bringing year to date share repurchase to
48 million shares or 4 percent of the shares outstanding at December 31, 2007.
Page 4 of 11
9. ˆ13=SPL1YRWT6XHGxŠ 13=SPL1YRWT6XHG
ACWIN-CTXP78
UNITEDHEALTH GROUP I RR Donnelley ProFile ECR andiv0dc 22-Jul-2008 01:56 EST 14731 EX99_1 5 2*
10.0.15
img003
FORM 8-K MIN HTM ESS 0C
Page 1 of 1
Business Description – Health Care Services
Health Care Services provides network-based health care benefits and services for a full spectrum of customers. UnitedHealthcare
serves employers ranging from sole proprietorships to large, multi-site and national employers, as well as students and individuals. In
the Public and Senior Markets Group, Ovations delivers health and well-being services to Americans over the age of 50, while
AmeriChoice manages health care services for state Medicaid and other publicly-funded programs and their beneficiaries.
Quarterly Financial Performance
Three Months Ended
June 30, June 30, March 31,
2008 2007 2008
Revenues $18.95 billion $17.97 billion $19.02 billion
Earnings From Operations $ 1.14 billion $ 1.75 billion $ 1.37 billion
Operating Margin 6.0% 9.7% 7.2%
Key Developments for Health Care Services
• Revenues for Health Care Services grew $977 million or 5 percent year-over-year in the second quarter of 2008. The increase
was driven by premium increases and an increase in customers served in the public and senior market sectors, partially offset by
a decline in consumers served through commercial risk-based products.
• Second quarter Health Care Services earnings from operations of $1.14 billion decreased $604 million or 35 percent year-over-
year. Pressure on commercial risk-based enrollment and margins, and on margins in certain senior market offerings,
significantly impacted profitability in the second quarter of 2008.
Page 5 of 11
10. ˆ13=SPL1YRVV0ZXGhŠ
13=SPL1YRVV0ZXG
ACWIN-CTXP78
UNITEDHEALTH GROUP I RR Donnelley ProFile ECR andiv0dc 22-Jul-2008 01:49 EST 14731 EX99_1 6 1*
10.0
FORM 8-K MIN HTM IFV 0C
Page 1 of 1
Key Developments for Health Care Services – Continued
• Second quarter revenues of $10.5 billion for UnitedHealthcare, including national accounts business, increased $427 million or
4 percent year-over-year.
• UnitedHealthcare added 965,000 commercial health benefit consumers in the first half of 2008, with increases from acquisitions
partially offset by an organic decrease of 660,000 people served, principally in risk-based programs. Second quarter membership
decreased less than 0.5 percent, primarily due to a decrease of 95,000 people in risk-based products.
• UnitedHealthcare continued its leadership position in consumer-driven products, adding nearly 0.5 million people year-over-
year at June 30, 2008.
• The traditional UnitedHealthcare second quarter 2008 medical care ratio, which excludes large national accounts, increased to
82.9 percent from 82.0 percent in second quarter 2007, due principally to lower than expected premium yields. Management
continues to estimate the full year 2008 UnitedHealthcare medical care ratio, excluding national accounts, to be in the range of
83.3 percent, plus or minus 50 basis points, compared to a full year ratio of 82.1 percent in 2007.
• Ovations revenues were $7.1 billion in the second quarter, up $270 million or 4 percent year-over-year.
• The Ovations Medicare Advantage programs reported a year-to-date increase of 85,000 people, through organic growth of
approximately 55,000 people and the acquisition of Sierra Health Services, Inc.’s (Sierra) seniors business, partially offset by a
regional divestiture. As of June 30, 2008, the number of seniors in the Company’s Medicare Advantage products increased by a
total of 105,000 people or 8 percent year-over-year.
• Participation in Ovations standardized Medicare supplement products increased by 145,000 people year-over-year and 25,000
people sequentially in the second quarter of 2008.
• The medical care ratio for the Ovations businesses in total increased year-over-year in the second quarter. This increase was due
to margin pressures affecting Special Needs Plans and Medicare Part D prescription drug plans, particularly in the lower income,
government-subsidized population, and SecureHorizons Medicare Advantage products, where risk-adjusted revenue yields have
been lower than anticipated. The Company established an approximate $50 million premium deficiency reserve in the second
quarter of 2008 to address anticipated operating losses on chronic care Special Needs Plans for the balance of 2008.
• AmeriChoice second quarter revenues of $1.4 billion increased $280 million or 25 percent year-over-year.
• The Company brought services to an additional 375,000 people in the second quarter of 2008 and 555,000 people year-over-year
in the state Medicaid market, including the acquisitions of Unison in the second quarter and Sierra in the first quarter of 2008,
respectively. On an organic basis, second quarter 2008 membership increased 10 percent year-over-year.
• During and subsequent to the second quarter, the states of Florida, Tennessee, Arizona, and Connecticut, and the District of
Columbia, awarded or renewed significant multi-year contracts with AmeriChoice for services commencing in 2008 or 2009.
Page 6 of 11
11. ˆ13=SPL1YRWTM33G!Š 13=SPL1YRWTM33G
ACWIN-CTXP78
UNITEDHEALTH GROUP I RR Donnelley ProFile ECR andiv0dc 22-Jul-2008 01:56 EST 14731 EX99_1 7 2*
10.0.15
img004
FORM 8-K MIN HTM ESS 0C
Page 1 of 1
Business Description – OptumHealth
OptumHealth is one of the nation’s largest health and wellness companies. Employers, payers and public sector organizations use
OptumHealth behavioral benefit solutions, clinical care management, financial services and specialty benefit products such as dental
and vision to help consumers navigate the health care system, finance their health care needs and achieve their health and well-being
goals.
Quarterly Financial Performance
Three Months Ended
June 30, June 30, March 31,
2008 2007 2008
Revenues $1.32 billion $1.24 billion $1.30 billion
Earnings From Operations $169 million $219 million $197 million
Operating Margin 12.8% 17.7% 15.1%
Key Developments for OptumHealth
• Second quarter revenues of $1.3 billion grew $84 million or 7 percent year-over-year. OptumHealth provided services to
more than 60 million consumers as of June 30, 2008, an increase of 2 million people year-over-year.
• In the second quarter, earnings from operations of $169 million decreased $50 million or 23 percent year-over-year,
primarily due to margin pressure in its behavioral health business as well as the loss of risk-based membership by
OptumHealth’s largest customer, UnitedHealthcare.
• OptumHealth Financial Services ended the second quarter as the nation’s largest dedicated health banking organization,
with approximately $615 million in assets under management, an increase of 50 percent year-over-year. OptumHealth
Financial Services managed approximately 1.6 million accounts on behalf of members served by its health plan customers,
including UnitedHealthcare, as of June 30, 2008.
• The OptumHealth operating margin of 12.8 percent in the second quarter of 2008 decreased 490 basis points year-over-
year, due to the mix effect of continued growth in OptumHealth’s lower margin public sector business and margin pressure
within its behavioral health business.
Page 7 of 11
12. ˆ13=SPL1YRWTX82GqŠ 13=SPL1YRWTX82G
ACWIN-CTXP78
UNITEDHEALTH GROUP I RR Donnelley ProFile ECR andiv0dc 22-Jul-2008 01:56 EST 14731 EX99_1 8 2*
10.0.15
img005
FORM 8-K MIN HTM ESS 0C
Page 1 of 1
Business Description – Ingenix
Ingenix is a leader in the field of health care information, services and consulting, serving pharmaceutical companies, health insurers
and other payers, physicians and other health care providers, large employers and governments.
Quarterly Financial Performance
Three Months Ended
June 30, June 30, March 31,
2008 2007 2008
Revenues $381 million $284 million $362 million
Earnings From Operations $ 49 million $ 42 million $ 47 million
Operating Margin 12.9% 14.8% 13.0%
Key Developments for Ingenix
• Ingenix revenues increased $97 million, or 34 percent year-over-year, to $381 million in the second quarter of 2008.
• Ingenix contract revenue backlog grew more than $300 million or 23 percent on a year-over-year basis to nearly $1.8
billion as of June 30, 2008, despite research project cancellations by several pharmaceutical customers. Second quarter
results included strong sales activity in all principal market sectors.
• Ingenix second quarter operating earnings increased $7 million or 17 percent year-over-year to $49 million. Lower second
quarter 2008 operating margins were attributable to the impact of staffing costs to support research projects which were
cancelled.
Page 8 of 11
13. ˆ13=SPL1YRWV5F1GYŠ 13=SPL1YRWV5F1G
ACWIN-CTXP78
UNITEDHEALTH GROUP I RR Donnelley ProFile ECR andiv0dc 22-Jul-2008 01:56 EST 14731 EX99_1 9 2*
10.0.15
img006
FORM 8-K MIN HTM ESS 0C
Page 1 of 1
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
June 30, June 30, March 31,
2008 2007 2008
Revenues $3.17 billion $3.30 billion $3.21 billion
Earnings From Operations $ 94 million $ 65 million $ 98 million
Operating Margin 3.0% 2.0% 3.1%
Key Developments for Prescription Solutions
• Prescription Solutions second quarter revenues of $3.2 billion decreased $131 million or 4 percent year-over-year in the
second quarter of 2008, due to a reduction in the number of people served through Medicare Part D prescription drug plans
as a result of the re-assignment of dual-eligible enrollees in certain regions by CMS effective January 1, 2008, and the
continuing favorable shift from name brand pharmaceuticals to lower-priced generic drugs.
• Second quarter earnings from operations grew $29 million or 45 percent year-over-year to $94 million. Increased
Prescription Solutions profits were driven by steady gains in mail service drug fulfillment, which offers improved
affordability and convenience for consumers, and a continuing favorable mix shift to generic pharmaceuticals.
• The Prescription Solutions second quarter operating margin reached 3.0 percent, increasing one percentage point year-
over-year, driven again by strong generic utilization patterns and mail service volume.
Page 9 of 11
14. ˆ13=SPL1YRVSF2RG(Š
13=SPL1YRVSF2RG
ACWIN-CTXP78
UNITEDHEALTH GROUP I RR Donnelley ProFile ECR andiv0dc 22-Jul-2008 01:49 EST 14731 EX99_1 10 1*
10.0
FORM 8-K MIN HTM IFV 0C
Page 1 of 1
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 six operating businesses:
UnitedHealthcare, 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 Investors
page of the Company’s Web site (www.unitedhealthgroup.com). The webcast replay of the call will be available on the same site
through August 1 following the live call. The conference call replay can also be accessed by dialing 1-800-642-1687, conference ID
#28400853. This earnings release and the Form 8-K dated July 22, 2008, which may also be accessed from the Investors page of the
Company’s Web site, include a reconciliation of non-GAAP financial measures.
Forward-Looking Statements
This press release may contain statements, estimates, projections, guidance or outlook that constitute “forward-looking” statements as
defined under U.S. federal securities laws. Generally the words “believe,” “expect,” “intend,” “estimate,” “anticipate,” “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 obtaining court
approval of the settlement agreements between the Company and certain named defendants and the dismissal of the derivative claims
against all named defendants, shareholder demands, and purported securities and Employee Retirement Income Security Act (ERISA)
class actions, including the completion of final documentation relating to the settlement of the securities and ERISA class actions,
obtaining approval of the proposed settlement of the securities class action by the boards of directors of the California Public
Employees’ Retirement System and the Company, and obtaining court approval of the proposed settlement of the securities and
ERISA class actions, the resolution of matters currently subject to an injunction issued by the United States District Court for the
District of Minnesota, a purported notice of acceleration with respect to certain of the Company’s debt securities based upon an
alleged event of default under the indenture governing such securities, and recent management and director changes, and the potential
impact of 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
Page 10 of 11
15. ˆ13=SPL1YRVSJ4DG|Š
13=SPL1YRVSJ4DG
ACWIN-CTXP78
UNITEDHEALTH GROUP I RR Donnelley ProFile ECR andiv0dc 22-Jul-2008 01:49 EST 14731 EX99_1 11 1*
10.0
FORM 8-K MIN HTM IFV 0C
Page 1 of 1
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 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 professionals; 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 professional 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; and the potential
consequences of the New York Attorney General’s investigation into our provider reimbursement practices.
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 the cautionary statements
in our annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K. Any or all forward-looking
statements we make may turn out to be wrong. You should not place undue reliance on forward-looking statements, which speak only
as of the date they are made. We do not undertake to update or revise any forward-looking statements.
###
Page 11 of 11
16. ˆ13=SPL1YRVSQ7QGxŠ
13=SPL1YRVSQ7QG
ACWIN-CTXP78
UNITEDHEALTH GROUP I RR Donnelley ProFile ECR andiv0dc 22-Jul-2008 01:49 EST 14731 EX99_1 12 1*
10.0
FORM 8-K MIN HTM IFV 0C
Page 1 of 1
UNITEDHEALTH GROUP
Earnings Release Schedules and Supplementary Information
Quarter Ended June 30, 2008
- Consolidated Statements of Operations
- Non-GAAP Operating Results Excluding Special Items
- Condensed Consolidated Balance Sheets
- Condensed Consolidated Statements of Cash Flows
- Segment Financial Information
- Customer Profile Summary
- 2008 Revised Outlook
- Non-GAAP Reconciliation of 2008 Forecasted Operating Results
- Use of Non-GAAP Financial Measures
1
17. ˆ13=SPL1YRVST9CGYŠ 13=SPL1YRVST9CG
ACWIN-CTXP78
UNITEDHEALTH GROUP I RR Donnelley ProFile ECR andiv0dc 22-Jul-2008 01:49 EST 14731 EX99_1 13 1*
10.0
FORM 8-K MIN HTM IFV 0C
Page 1 of 1
UNITEDHEALTH GROUP
CONSOLIDATED STATEMENTS OF OPERATIONS
(in millions, except per share data)
(unaudited)
Three Months Ended June 30, Six Months Ended June 30,
2008 (a) 2007 2008 (a) 2007 (b)
REVENUES
Premiums $ 18,344 $ 17,369 $ 36,733 $ 34,833
Services 1,297 1,136 2,570 2,252
Products 391 202 754 399
Investment and Other Income 240 293 519 563
Total Revenues 20,272 19,000 40,576 38,047
OPERATING COSTS
Medical Costs 15,257 13,944 30,401 28,384
Operating Costs 3,746 2,605 6,643 5,269
Cost of Products Sold 353 181 678 351
Depreciation and Amortization 243 196 468 387
Total Operating Costs 19,599 16,926 38,190 34,391
673 2,074 2,386 3,656
EARNINGS FROM OPERATIONS
Interest Expense (164) (133) (318) (249)
509 1,941 2,068 3,407
EARNINGS BEFORE INCOME TAXES
Provision for Income Taxes (172) (713) (737) (1,252)
$ 337 $ 1,228 $ 1,331 $ 2,155
NET EARNINGS
$ 0.28 $ 0.93 $ 1.08 $ 1.61
BASIC NET EARNINGS PER COMMON SHARE
$ 0.27 $ 0.89 $ 1.05 $ 1.55
DILUTED NET EARNINGS PER COMMON SHARE
Diluted Weighted-Average Common Shares Outstanding 1,245 1,377 1,262 1,389
(a) Includes pre-tax Operating Costs of $922 million ($0.47 per share after tax) for settlement of two class action lawsuits related to
the Company’s historical stock option practices and related legal costs, and $46 million ($0.02 per share after tax) for employee
severance related to operating cost reduction initiatives and other items, partially offset by a $185 million ($0.09 per share after
tax) reduction in operating costs for proceeds from the sale of certain assets and membership in the individual Medicare
Advantage business in Nevada in May 2008.
(b) Includes $87 million of pre-tax Operating Costs ($0.04 per share after tax) 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 ($0.04 per share after tax) for the modification charge due to repricing
unexercised options subject to IRS Section 409A.
Refer to page 3 for a reconciliation of our second quarter GAAP results to those excluding special items.
2
18. ˆ13=SPL1YRVSXC0GhŠ
14731 EX99_1 14 1*
HTM IFV 0C
Page 1 of 2
UNITEDHEALTH GROUP
Reconciliation of Non-GAAP Measures
Operating Results Excluding Special Items (a)
(in millions, except share data)
(unaudited)
13=SPL1YRVSXC0G
Three Months Ended June 30, 2008 Six Months Ended June 30, 2008
Consolidated GAAP Non-GAAP Operating Results Consolidated GAAP Non-GAAP Operating Results
Reporting Reconciling Items Excluding Items (a) Reporting Reconciling Items Excluding Items (a)
REVENUES
Premiums $ 18,344 $ — $ 18,344 $ 36,733 $ — $ 36,733
Services 1,297 — 1,297 2,570 — 2,570
Products 391 — 391 754 — 754
Investment and Other
Income 240 — 240 519 — 519
22-Jul-2008 01:49 EST
Total Revenues 20,272 — 20,272 40,576 — 40,576
OPERATING
COSTS
Medical Costs 15,257 — 15,257 30,401 — 30,401
Operating Costs 3,746 (783) 2,963 6,643 (783) 5,860
Cost of Products Sold 353 — 353 678 — 678
Depreciation and
Amortization 243 — 243 468 — 468
ECR andiv0dc
Total Operating
Costs 19,599 (783) 18,816 38,190 (783) 37,407
MIN
EARNINGS FROM
673 783 1,456 2,386 783 3,169
OPERATIONS
ACWIN-CTXP78
Interest Expense (164) — (164) (318) — (318)
EARNINGS
10.0
BEFORE
INCOME
RR Donnelley ProFile
509 783 1,292 2,068 783 2,851
TAXES
Provision for Income
Taxes (172) (290) (462) (737) (290) (1,027)
$ 337 $ 493 $ 830 $ 1,331 $ 493 $ 1,824
NET EARNINGS
DILUTED NET
EARNINGS PER
COMMON
UNITEDHEALTH GROUP I
$ 0.27 $ 0.40 $ 0.67 $ 1.05 $ 0.40 $ 1.45
SHARE
Diluted Weighted-
Average Common
Shares
Outstanding 1,245 — 1,245 1,262 — 1,262
FORM 8-K
83.2% 83.2% 82.8% 82.8%
Medical Care Ratio
Operating Cost
18.5% 14.6% 16.4% 14.4%
Ratio
19. ˆ13=SPL1YRVSXC0GhŠ
14731 EX99_1 14 1*
HTM IFV 0C
Page 2 of 2
3.3% 7.2% 5.9% 7.8%
Operating Margin
33.8% 35.8% 35.6% 36.0%
Income Tax Rate
(a) Excludes pre-tax Operating Costs of $922 million ($0.47 per share after tax) for settlement of two class action lawsuits related to the Company’s historical stock
option practices and related legal costs, and $46 million ($0.02 per share after tax) for employee severance related to operating cost reduction initiatives and other
items, partially offset by a $185 million ($0.09 per share after tax) reduction in operating costs for proceeds from the sale of certain assets and membership in the
13=SPL1YRVSXC0G
individual Medicare Advantage business in Nevada in May 2008.
Refer to page 10 for further discussion of our use of Non-GAAP financial measures.
3
22-Jul-2008 01:49 EST
ECR andiv0dc
MIN
ACWIN-CTXP78
10.0
RR Donnelley ProFile
UNITEDHEALTH GROUP I
FORM 8-K
20. ˆ13=SPL1YRVS=DPG#Š
13=SPL1YRVS=DPG
ACWIN-CTXP78
UNITEDHEALTH GROUP I RR Donnelley ProFile ECR andiv0dc 22-Jul-2008 01:49 EST 14731 EX99_1 15 1*
10.0
FORM 8-K MIN HTM IFV 0C
Page 1 of 1
UNITEDHEALTH GROUP
CONDENSED CONSOLIDATED BALANCE SHEETS
(in millions)
(unaudited)
June 30, December 31,
2008 2007
ASSETS
Cash and Short-Term Investments $ 6,089 $ 9,619
Accounts Receivable, net 2,350 1,574
Other Current Assets 4,816 4,351
Total Current Assets 13,255 15,544
Long-Term Investments 13,700 12,667
Other Long-Term Assets 27,200 22,688
Total Assets $54,155 $ 50,899
LIABILITIES AND SHAREHOLDERS’ EQUITY
Medical Costs Payable $ 8,860 $ 8,331
Commercial Paper and Current Maturities of Long-Term Debt 1,929 1,946
Other Current Liabilities 9,198 8,215
Total Current Liabilities 19,987 18,492
Long-Term Debt, less current maturities 11,222 9,063
Future Policy Benefits for Life and Annuity Contracts 1,860 1,849
Deferred Income Taxes and Other Liabilities 1,682 1,432
Shareholders’ Equity 19,404 20,063
Total Liabilities and Shareholders’ Equity $54,155 $ 50,899
4
21. ˆ13=SPL1YRVT2GBGBŠ
13=SPL1YRVT2GBG
ACWIN-CTXP78
UNITEDHEALTH GROUP I RR Donnelley ProFile ECR andiv0dc 22-Jul-2008 01:49 EST 14731 EX99_1 16 1*
10.0
FORM 8-K MIN HTM IFV 0C
Page 1 of 1
UNITEDHEALTH GROUP
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in millions)
(unaudited)
Six Months Ended June 30,
2008 2007
Operating Activities
Net Earnings $ 1,331 $ 2,155
Noncash Items:
Depreciation and amortization 468 387
Deferred income taxes and other (245) (270)
Share-based compensation 147 350
Net changes in operating assets and liabilities (821) 1,669
Cash Flows From Operating Activities 880 4,291
Investing Activities
Cash paid for acquisitions, net of cash assumed (3,712) (143)
Purchases of property, equipment and capitalized software, net (415) (463)
Net purchases of investments (943) (1,269)
Cash Flows Used For Investing Activities (5,070) (1,875)
Financing Activities
Common stock repurchases (2,052) (2,380)
Net change in commercial paper and debt 2,062 975
Share-based compensation excess tax benefit 14 196
Customer funds administered 650 1,190
Other, net (76) 315
Cash Flows From Financing Activities 598 296
(Decrease) Increase in cash and cash equivalents (3,592) 2,712
Cash and cash equivalents, beginning of period 8,865 10,320
Cash and cash equivalents, end of period $ 5,273 $ 13,032
5
22. ˆ13=SPL1YRVT5H=G-Š13=SPL1YRVT5H=G
ACWIN-CTXP78
UNITEDHEALTH GROUP I RR Donnelley ProFile ECR andiv0dc 22-Jul-2008 01:49 EST 14731 EX99_1 17 1*
10.0
FORM 8-K MIN HTM IFV 0C
Page 1 of 1
UNITEDHEALTH GROUP
SEGMENT FINANCIAL INFORMATION
(in millions)
(unaudited)
REVENUES
Three Months Ended June 30, Six Months Ended June 30,
2008 2007 2008 2007
Health Care Services (a) $ 18,945 $ 17,968 $ 37,962 $ 36,024
OptumHealth 1,321 1,237 2,625 2,427
Ingenix 381 284 743 546
Prescription Solutions 3,173 3,304 6,379 6,683
Eliminations (3,548) (3,793) (7,133) (7,633)
Total Consolidated $ 20,272 $ 19,000 $ 40,576 $ 38,047
EARNINGS FROM OPERATIONS
Three Months Ended June 30, Six Months Ended June 30,
2008 2007 2008 2007
Health Care Services $ 1,144 $ 1,748 $ 2,515 $ 3,206
OptumHealth 169 219 366 432
Ingenix 49 42 96 80
Prescription Solutions 94 65 192 114
Corporate (783)(b) — (783)(b) (176)(c)
Total Consolidated $ 673 $ 2,074 $ 2,386 $ 3,656
(a) Revenues for the three and six months ended June 30, 2008 were $10,476 and $20,839 for UnitedHealthcare (formerly our
Commercial Markets Group which includes UnitedHealthcare National Accounts (formerly Uniprise)); $7,061 and $14,511 for
Ovations; and $1,408 and $2,612 for AmeriChoice, respectively. Revenues for the three and six months ended June 30, 2007
were $10,049 and $20,101 for UnitedHealthcare; $6,791 and $13,817 for Ovations; and $1,128 and $2,106 for AmeriChoice,
respectively.
(b) Includes pre-tax Operating Costs of $922 million for settlement of two class action lawsuits related to the Company’s historical
stock option practices and related legal costs, $46 million for employee severance related to operating cost reduction initiatives
and other items, partially offset by a $185 million reduction in operating costs for proceeds from the sale of certain assets and
membership in the individual Medicare Advantage business in Nevada in May 2008.
(c) Includes $87 million of pre-tax 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.
6
23. ˆ13=SPL1YRVT8KNG1Š 13=SPL1YRVT8KNG
ACWIN-CTXP78
UNITEDHEALTH GROUP I RR Donnelley ProFile ECR andiv0dc 22-Jul-2008 01:49 EST 14731 EX99_1 18 1*
10.0
FORM 8-K MIN HTM IFV 0C
Page 1 of 1
UNITEDHEALTH GROUP
CUSTOMER PROFILE SUMMARY
(in thousands)
(unaudited)
June March December June December
People Served 2008 (a) 2008 (b) 2007 2007 2006
Commercial Risk-based 10,490 10,585 10,805 11,010 11,285
Commercial Fee-based 16,000 16,005 14,720 14,680 14,415
Total Commercial 26,490 26,590 25,525 25,690 25,700
Medicare Advantage (c) 1,455 1,455 1,370 1,350 1,445
Medicaid 2,255 1,880 1,710 1,700 1,465
Standardized Medicare Supplement 2,475 2,450 2,400 2,330 2,275
Total Public and Senior (d) 6,185 5,785 5,480 5,380 5,185
Total Health Care Services Medical Benefits 32,675 32,375 31,005 31,070 30,885
Total People Served 73,075 73,070 70,950 71,095 70,680
Supplemental Data - included in Total People Served OptumHealth 60,100 60,400 58,700 58,100 56,600
Total Part D Prescription Drug Plans 5,445 5,475 5,950 5,890 5,740
Consumer-Driven Health Plans 2,730 2,725 2,315 2,245 1,890
(a) Includes 320 thousand risk-based Medicaid individuals served in connection with the acquisition of Unison Health Plans
(Unison). Excludes 70 thousand fee-based Medicaid individuals affiliated with a customer that had notified Unison (prior to
acquisition) of its intent to terminate its relationship effective October 2008.
(b) Includes 1.3 million Commercial fee-based individuals served in connection with the acquisition of Fiserv Health, Inc. (Fiserv
Health) in January 2008. Also includes 310 thousand Commercial risk-based, 60 thousand Medicare Advantage, 60 thousand
Medicaid risk-based, 10 thousand Standardized Medicare Supplement, and 110 thousand Total Part D Prescription Drug Plan
individuals served in connection with the acquisition of Sierra Health Services, Inc. in February 2008. Excludes 170 thousand
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) June 2008 membership for Medicare Advantage reflects the divestiture of the individual Medicare Advantage business in
Nevada in May 2008 of 28 thousand individuals.
(d) Excludes pre-standardized Medicare Supplement and other AARP products. These products are included in Total People
Served.
7
24. ˆ13=SPL1YRVTCM9GwŠ 13=SPL1YRVTCM9G
ACWIN-CTXP78
UNITEDHEALTH GROUP I RR Donnelley ProFile ECR andiv0dc 22-Jul-2008 01:49 EST 14731 EX99_1 19 1*
10.0
FORM 8-K MIN HTM IFV 0C
Page 1 of 1
UNITEDHEALTH GROUP
2008 Revised Outlook as of July 22, 2008
($ and weighted average shares in millions, except per share data)
Earnings from
Operations, as Operating Margin
adjusted 1 Range, as adjusted1
Business Revenue Range
UnitedHealthcare $41,400 – $41,600
Ovations 27,900 – 28,100
AmeriChoice 5,900 – 6,000
Health Care Services $75,200 – $75,700 $4,900 – $5,100 6.5% – 6.8%
OptumHealth 5,200 – 5,300 740 – 760 14% – 15%
Ingenix 1,625 – 1,675 290 – 310 17% – 19%
Prescription Solutions 12,700 – 13,000 380 – 400 2.9% – 3.1%
Eliminations (14,100) – (14,350) — —
Approximately $81,000 Approximately $6,500 Approximately 8%
Consolidated UnitedHealth Group 2008 Targets
UnitedHealth Group Medical Care Ratio 82.5% ± 50 bps
Operating Cost Ratio, as adjusted1 14.5% ± 20 bps
Service-based Revenues $5,100 – $5,300
Product Revenues $1,650 – $1,800
Investment and Other Income – Assuming $120 in Capital Gains $850 – $900
Depreciation / Amortization $960 – $980
Interest Expense $650 – $675
Tax Rate, as adjusted 1 35.75% – 36.00%
Diluted Weighted Average Shares 1,235 – 1,245
Diluted Net Earnings Per Common Share, as adjusted 1 $2.95 – $3.05
Days Medical Costs Claims Payable – Consolidated 50 – 54 days
Capital Expenditures $900 – $950
Membership Growth (excluding acquisitions and divestitures):
UnitedHealthcare:
Risk-Based Decline (800,000) or more individuals
Fee-Based flat
Ovations Growth – Secure Horizons and Evercare Medicare
Advantage 75,000 – 90,000 individuals
AmeriChoice and Evercare Medicaid Growth 400,000 – 450,000 individuals
1 Excludes pre-tax Operating Costs of $922 million ($0.47 per share after tax) for settlement of two class action lawsuits related to
the Company’s historical stock option practices and related legal costs, and $46 million ($0.02 per share after tax) for employee
severance related to operating cost reduction initiatives and other items, partially offset by a $185 million ($0.09 per share after
tax) reduction in operating costs for proceeds from the sale of certain assets and membership in the individual Medicare
Advantage business in Nevada in May 2008.
Refer to page 10 for further discussion of our use of Non-GAAP financial measures.
8
25. ˆ13=SPL1YRVTKQMGÀŠ13=SPL1YRVTKQMG
ACWIN-CTXP78
UNITEDHEALTH GROUP I RR Donnelley ProFile ECR andiv0dc 22-Jul-2008 01:49 EST 14731 EX99_1 20 1*
10.0
FORM 8-K MIN HTM IFV 0C
Page 1 of 1
UNITEDHEALTH GROUP
Reconciliation of Non-GAAP Financial Measures
Forecasted Operating Results for the Year Ending December 31, 2008
GAAP Earnings from Operations Approximately $5,750 million
Settlement of two class action lawsuits related to the Company’s historical stock option practices
and related legal costs 922 million
Employee severance related to operating cost reduction initiatives and other items 46 million
Reduction in operating costs for proceeds from the sale of certain assets and membership in the
individual Medicare Advantage business in Nevada (185) million
Subtotal of Non-GAAP reconciling items 783 million
Earnings from Operations Excluding Special Items Approximately $6,500 million
GAAP Diluted Net Earnings per Common Share $2.55 to $2.65
Settlement of two class action lawsuits related to the Company’s historical stock option practices
and related legal costs 0.47
Employee severance related to operating cost reduction initiatives and other items 0.02
Reduction in operating costs for proceeds from the sale of certain assets and membership in the
individual Medicare Advantage business in Nevada (0.09)
Diluted Net Earnings per Common Share Excluding Special Items $2.95 to $3.05
GAAP Operating Margin Approximately 7%
Effects of Non-GAAP reconciling items Approximately 1%
Operating Margin Excluding Special Items Approximately 8%
GAAP Operating Cost Ratio 15.5% ± 20 bps
Effects of Non-GAAP reconciling items (Approximately 100 bps)
Operating Cost Ratio Excluding Special Items 14.5% ± 20 bps
GAAP Cash Flows from Operations Approaching $4.4 billion
Payments (net of tax) for Settlement of Options Related Class-Action Litigation (assumes payment
of 100% of settlement amounts in 2008) Approximately 0.6 billion
Cash Flows from Operations, excluding cash payments for litigation settlements Approaching $5.0 billion
GAAP Income Tax Rate 35.55 - 35.80%
Effects of Non-GAAP reconciling items Approximately 20 bps
Income Tax Rate Excluding Special Items 35.75 - 36.00%
Refer to page 10 for further discussion of our use of Non-GAAP financial measures.
9
26. ˆ13=SPL1YRVTNS8GmŠ
13=SPL1YRVTNS8G
ACWIN-CTXP78
UNITEDHEALTH GROUP I RR Donnelley ProFile ECR andiv0dc 22-Jul-2008 01:49 EST 14731 EX99_1 21 1*
10.0
FORM 8-K MIN HTM IFV 0C
Page 1 of 1
UNITEDHEALTH GROUP
USE OF NON-GAAP FINANCIAL MEASURES
Operating results excluding special items and adjusted 2008 forecasted operating results as used in the press release are not calculated
in accordance with GAAP and should not be considered a substitute for or superior to financial measures calculated in accordance
with GAAP. Management believes that the use of each of these non-GAAP financial measures improves the comparability of our
results between periods. These financial measures provide investors and our management with useful information to measure and
forecast our results of operations, to compare on a consistent basis our results of operations for the current period to that of prior
periods, and to compare our results of operations on a more consistent basis against that of other companies in the health care
industry.
These non-GAAP financial measures have limitations in that they do not reflect all of the special items associated with the operations
of our business as determined in accordance with GAAP. As a result, one should not consider these measures in isolation. We
compensate for these limitations by analyzing current and future results on a GAAP basis as well as non-GAAP basis, disclosing
these GAAP financial measures, and providing a reconciliation from GAAP to non-GAAP financial measures.
10