United Healthcare 2003 Annual Report Download - page 45

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For the Year Ended December 31,
(in millions) 2003 2002 2001
OPERATING ACTIVITIES
Net Earnings $ 1,825 $1,352 $913
Noncash Items
Depreciation and Amortization 299 255 265
Deferred Income Taxes and Other 91 154 40
Net Change in Other Operating Items, net of effects
from acquisitions, sales of subsidiaries and changes
in AARP balances
Accounts Receivable and Other Current Assets (46) 83 7
Medical Costs Payable 276 74 156
Accounts Payable and Accrued Liabilities 460 423 280
Other Policy Liabilities 87 70 131
Unearned Premiums 11 12 52
CASH FLOWS FROM OPERATING ACTIVITIES
3,003 2,423 1,844
INVESTING ACTIVITIES
Cash Paid for Acquisitions, net of cash assumed and other effects (590) (302) (92)
Purchases of Property, Equipment and Capitalized Software (352) (419) (425)
Purchases of Investments (2,583) (3,246) (2,088)
Maturities and Sales of Investments 2,780 2,576 1,467
CASH FLOWS USED FOR INVESTING ACTIVITIES
(745) (1,391) (1,138)
FINANCING ACTIVITIES
Proceeds from (Payments of) Commercial Paper, net (382) (223) 275
Proceeds from Issuance of Long-Term Debt 950 400 250
Payments for Retirement of Long-Term Debt (350) –(150)
Common Stock Repurchases (1,607) (1,815) (1,129)
Proceeds from Common Stock Issuances 268 205 178
Dividends Paid (9) (9) (9)
Other 4––
CASH FLOWS USED FOR FINANCING ACTIVITIES
(1,126) (1,442) (585)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
1,132 (410) 121
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD
1,130 1,540 1,419
CASH AND CASH EQUIVALENTS, END OF PERIOD
$2,262 $1,130 $1,540
SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES
Common Stock Issued for Acquisitions $–$567 $163
See Notes to Consolidated Financial Statements.
Consolidated Statements of Cash Flows
UnitedHealth Group 43