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UNH » Topics » Adjusted Cash Flows from Operating Activities

This excerpt taken from the UNH 8-K filed Oct 16, 2008.

Adjusted Cash Flows from Operating Activities

 

     Three Months Ended
September 30, 2008		  

GAAP Cash Flows From Operating Activities

    Approximately $1,800  

Legal Settlement Payments made in Q3 2008, net of tax benefit

    Approximately $600 (a)
      

Adjusted Cash Flows From Operating Activities (a)

    Approximately $2,400  
      
     Three Months Ended
September 30, 2007		  

GAAP Cash Flows From Operating Activities

    Approximately $500  

July CMS Premium Payment Received in June

    Approximately $1,600 (b)
      

Adjusted Cash Flows From Operating Activities (b)

    Approximately $2,100  
      

 

(a)    Adjusted Cash Flows From Operating Activities for the three months ended September 30, 2008 excludes cash payments to settle two class action lawsuits related to the Company’s historical stock option practices.

       

(b)    Adjusted Cash Flows From Operating Activities for the three months ended September 30, 2007 includes the CMS premium payment for July which was received in June 2007.

       

 

Forecasted Operating Results for the Year Ending December 31, 2008

 

 

GAAP Cash Flows from Operations

    Approaching $4,400  

Legal Settlement Payments made in Q3 2008, net of tax benefit

    Approximately $600  
      

Cash Flows from Operations, excluding cash payments for litigation settlements

    Approaching $5,000  
      

 

   Refer to “Use of Non-GAAP Financial Measures” for further discussion.

UNITEDHEALTH GROUP

This excerpt taken from the UNH 8-K filed Apr 22, 2008.

Adjusted Cash Flows from Operating Activities (a)

(in millions)

(unaudited)

 

     Three Months Ended March 31,  
     2008    2007  

GAAP Cash Flows From Operating Activities

    $ 280    $ 2,588  

April 2007 CMS Premium Payment Received in March 2007

      —        (1,514 )
               

Adjusted Cash Flows From Operating Activities (a)

    $ 280    $ 1,074  
               

 

(a) Adjusted Cash Flows From Operating Activities is presented to facilitate the comparison of cash flows from operating activities for periods in which the Company does not receive its monthly premium payments from the Centers for Medicare and Medicaid Services (CMS) in the applicable quarter. CMS generally pays their monthly premium on the first calendar day of the applicable month. If the first calendar day of the month falls on a weekend or a holiday, CMS has typically paid the Company on the last business day of the preceding calendar month. As such, GAAP operating cash flows may vary depending upon which payments are received by the Company from CMS during a particular period. Adjusted Cash Flows From Operating Activities presents operating cash flows assuming that each monthly CMS premium payment was received on the first calendar day of the applicable month.

 

9

UNITEDHEALTH GROUP

This excerpt taken from the UNH 8-K filed Oct 18, 2007.

Adjusted Cash Flows from Operating Activities (a)

(in millions)

(unaudited)

 

     Three Months Ended
September 30,
     2007    2006

GAAP Cash Flows From Operating Activities

    $ 516    $ 314

July CMS Premium Payment Received in June

      1,569      1,511
             

Adjusted Cash Flows From Operating Activities (a)

    $ 2,085    $ 1,825
             
(a) Adjusted Cash Flows From Operating Activities is presented to facilitate the comparison of cash flows from operating activities for periods in which the Company does not receive its monthly premium payments from the Centers for Medicare and Medicaid Services (CMS) in the applicable quarter. CMS generally pays their monthly premium on the first calendar day of the applicable month. If the first calendar day of the month falls on a weekend or a holiday, CMS has typically paid the Company on the last business day of the preceding calendar month. As such, GAAP operating cash flows may vary depending upon which payments are received by the Company from CMS during a particular period. Adjusted Cash Flows From Operating Activities presents operating cash flows assuming that each monthly CMS premium payment was received on the first calendar day of the applicable month.

 

8

UNITEDHEALTH GROUP

This excerpt taken from the UNH 8-K filed Jul 19, 2007.

Adjusted Cash Flows from Operating Activities (a)

(in millions)

(unaudited)

 

     Three Months Ended June 30,     Six Months Ended June 30,  
     2007     2006     2007     2006  

GAAP Cash Flows From Operating Activities

    $ 1,703     $ 1,722     $ 4,291     $ 4,612  

July CMS Premium Payment Received in June

      (1,569 )     (1,511 )     (1,569 )     (1,511 )

April CMS Premium Payment Received in March

      1,514       1,336       —         —    
                                

Adjusted Cash Flows From Operating Activities (a)

    $ 1,648     $ 1,547     $ 2,722     $ 3,101  
                                
(a) Adjusted Cash Flows From Operating Activities is presented to facilitate the comparison of cash flows from operating activities for periods in which the Company does not receive its monthly premium payments from the Centers for Medicare and Medicaid Services (CMS) in the applicable quarter. CMS generally pays their monthly premium on the first calendar day of the applicable month. If the first calendar day of the month falls on a weekend or a holiday, CMS has typically paid the Company on the last business day of the preceding calendar month. As such, GAAP operating cash flows may vary depending upon which payments are received by the Company from CMS during a particular period. Adjusted Cash Flows From Operating Activities presents operating cash flows assuming that each monthly CMS premium payment was received on the first calendar day of the applicable month.

 

8

UNITEDHEALTH GROUP

This excerpt taken from the UNH 8-K filed Apr 19, 2007.

Adjusted Cash Flows from Operating Activities (a)

(in millions)

(unaudited)

 

     Three Months Ended March 31,  
     2007     2006  

GAAP Cash Flows From Operating Activities

    $ 2,588     $ 2,890  

April 2007 CMS Premium Payment Received in March 2007

      (1,514 )     —    

April 2006 CMS Premium Payment Received in March 2006

      —         (1,336 )
                

Adjusted Cash Flows From Operating Activities (a)

    $ 1,074     $ 1,554  
                
(a) Adjusted Cash Flows From Operating Activities is presented to facilitate the comparison of cash flows from operating activities for periods in which the Company does not receive its monthly premium payments from the Centers for Medicare and Medicaid Services (CMS) in the applicable quarter. CMS generally pays their monthly premium on the first calendar day of the applicable month. If the first calendar day of the month falls on a weekend or a holiday, CMS has typically paid the Company on the last business day of the preceding calendar month. As such, GAAP operating cash flows may vary depending upon which payments are received by the Company from CMS during a particular period. Adjusted Cash Flows From Operating Activities presents operating cash flows assuming that each monthly CMS premium payment was received on the first calendar day of the applicable month.

 

9

UNITEDHEALTH GROUP

This excerpt taken from the UNH 8-K filed Jul 14, 2005.

ADJUSTED CASH FLOWS FROM OPERATING ACTIVITIES

 

     Six Months Ended June 30,
     2005
    2004

GAAP Cash Flows From Operating Activities

    $ 2,497    $ 1,927

January CMS Premium Payment Received in December

      275      175
    
  

Adjusted Cash Flows From Operating Activities

    $ 2,772    $ 2,102
    
  

CAUTIONARY STATEMENT FOR PURPOSES OF THE “SAFE HARBOR” PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

 

UnitedHealth Group and its representatives may from time to time make written and oral forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (PSLRA), including statements in this report, in presentations, press releases (including the earnings release attached as Exhibit 99 to this report and the earnings conference call described in such earnings release), filings with the Securities and Exchange Commission, reports to shareholders and in meetings with analysts and investors. Generally the words “believe,” “expect,” “intend,” “estimate,” “anticipate,” “project,” “will” and similar expressions identify forward-looking statements, which generally are not historical in nature. These statements may contain information about financial prospects, economic conditions, trends and unknown certainties. We caution that actual results could differ materially from those that management expects, depending on the outcome of certain factors. These forward-looking statements involve risks and uncertainties that may cause our actual results to differ materially from the results discussed in the forward-looking statements. Some factors that could cause results to differ materially from the forward-looking statements include:

 

  •   increases in health care costs that are higher than we anticipated in establishing our premium rates, including increased consumption of or costs of medical services;

 

  •   heightened competition as a result of new entrants into our market, and consolidation of health care companies and suppliers;

 

  •   events that may negatively affect our contract with AARP;

 

  •   increased competition and other uncertainties resulting from changes in Medicare laws;

 

  •   increases in costs and other liabilities associated with increased litigation, legislative activity and government regulation and review of our industry;

 

  •   our ability to execute contracts on competitive terms with physicians, hospitals and other service providers;

 

  •   failure to maintain effective and efficient information systems, which could result in the loss of existing customers, difficulties in attracting new customers, difficulties in determining medical costs estimates and appropriate pricing, customer and physician and health care provider disputes, regulatory violations, increases in operating costs, or other adverse consequences;

 

  •   possible impairment of the value of our intangible assets if future results do not adequately support goodwill and intangible assets recorded for businesses that we acquire;

 

  •   costs associated with compliance with restrictions on patient privacy, including system changes, development of new administrative processes, and potential noncompliance by our business associates;

 

  •   misappropriation of our proprietary technology;

  •   potential effects of terrorism, including increased use of health care services, disruption of information and payment systems, and increased health care costs; and

 

  •   our anticipated acquisition of PacifiCare Health Systems, Inc. may be delayed or impeded as a result of required governmental consents, approval by PacifiCare’s stockholders, and other conditions to the merger, which may increase the costs of the merger and reduce anticipated benefits.

 

This list of important factors is not intended to be exhaustive. A further list and description of some of these risks and uncertainties can be found in our reports filed with the Securities and Exchange Commission from time to time, including our annual reports on Form 10-K and quarterly reports on Form 10-Q. Any or all forward-looking statements we make may turn out to be wrong. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Except to the extent otherwise required by federal securities laws, we do not undertake to publicly update or revise any forward-looking statements.

This excerpt taken from the UNH 8-K filed Apr 14, 2005.

ADJUSTED CASH FLOWS FROM OPERATING ACTIVITIES

 

     Three Months Ended March 31,
     2005
    2004

GAAP Cash Flows From Operating Activities

    $ 1,206    $ 910

January CMS Premium Payment

              

Received in December

      275      175
    
  

Adjusted Cash Flows From Operating Activities

    $ 1,481    $ 1,085
    
  

CAUTIONARY STATEMENT FOR PURPOSES OF THE “SAFE HARBOR” PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

 

UnitedHealth Group and its representatives may from time to time make written and oral forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (PSLRA), including statements in this report, in presentations, press releases (including the earnings release attached as Exhibit 99 to this report and the earnings conference call described in such earnings release), filings with the Securities and Exchange Commission, reports to shareholders and in meetings with analysts and investors. Generally the words “believe,” “expect,” “intend,” “estimate,” “anticipate,” “project,” “will” and similar expressions identify forward-looking statements, which generally are not historical in nature. These statements may contain information about financial prospects, economic conditions, trends and unknown certainties. We caution that actual results could differ materially from those that management expects, depending on the outcome of certain factors. These forward-looking statements involve risks and uncertainties that may cause our actual results to differ materially from the results discussed in the forward-looking statements. Some factors that could cause results to differ materially from the forward-looking statements include:

 

  •   increases in health care costs that are higher than we anticipated in establishing our premium rates, including increased consumption of or costs of medical services;

 

  •   heightened competition as a result of new entrants into our market, and consolidation of health care companies and suppliers;

 

  •   events that may negatively affect our contract with AARP;

 

  •   increased competition and other uncertainties resulting from changes in Medicare laws;

 

  •   increases in costs and other liabilities associated with increased litigation, legislative activity and government regulation and review of our industry;

 

  •   our ability to execute contracts on competitive terms with physicians, hospitals and other service providers;

 

  •   failure to maintain effective and efficient information systems, which could result in the loss of existing customers, difficulties in attracting new customers, difficulties in determining medical costs estimates and appropriate pricing, customer and physician and health care provider disputes, regulatory violations, increases in operating costs, or other adverse consequences;

 

  •   possible impairment of the value of our intangible assets if future results do not adequately support goodwill and intangible assets recorded for businesses that we acquire;

 

  •   costs associated with compliance with restrictions on patient privacy, including system changes, development of new administrative processes, and potential noncompliance by our business associates;

 

  •   misappropriation of our proprietary technology; and

  •   potential effects of terrorism, including increased use of health care services, disruption of information and payment systems, and increased health care costs.

 

This list of important factors is not intended to be exhaustive. A further list and description of some of these risks and uncertainties can be found in our reports filed with the Securities and Exchange Commission from time to time, including our annual reports on Form 10-K and quarterly reports on Form 10-Q. Any or all forward-looking statements we make may turn out to be wrong. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Except to the extent otherwise required by federal securities laws, we do not undertake to publicly update or revise any forward-looking statements.

EXCERPTS ON THIS PAGE:

8-K
Oct 16, 2008
8-K
Apr 22, 2008
8-K
Oct 18, 2007
8-K
Jul 19, 2007
8-K
Apr 19, 2007
8-K
Jul 14, 2005
8-K
Apr 14, 2005

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