United Healthcare 2007 Annual Report Download - page 43

quarterly or annual period could be materially affected by changes in our estimates or assumptions. See “—
Cautionary Statements” for a description of the risks related to our pending regulatory inquiries and litigation.
Legal Matters
A description of our legal proceedings is included in Note 13 of Notes to the Consolidated Financial Statements
contained in Part II, Item 8 of this report and is incorporated by reference herein.
Concentrations of Credit Risk
Investments in financial instruments such as marketable securities and accounts receivable may subject us to
concentrations of credit risk. Our investments in marketable securities are managed under an investment policy
authorized by our Board of Directors. This policy limits the amounts that may be invested in any one issuer and
generally limits our investments to U.S. Government and Agency securities, state and municipal securities and
corporate debt obligations that are investment grade. Concentrations of credit risk with respect to accounts
receivable are limited due to the large number of employer groups that constitute our customer base. As of
December 31, 2007, we had an aggregate $2.0 billion reinsurance receivable resulting from the sale of our
Golden Rule Financial Corporation life and annuity business in 2005. We regularly evaluate the financial
condition of the reinsurer and only record the reinsurance receivable to the extent that the amounts are deemed
probable of recovery. As of December 31, 2007, there were no other significant concentrations of credit risk.
Cautionary Statements
The statements, estimates, projections, guidance or outlook contained in this Annual Report on Form 10-K
include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995
(PSLRA). When used in this Annual Report on Form 10-K and in future filings by us with the SEC, in our news
releases, presentations to securities analysts or investors, and in oral statements made by or with the approval of
one of our executive officers, the words or phrases “believes,” “anticipates,” “expects,” “plans,” “seeks,”
“intends,” “will likely result,” “estimates,” “projects” or similar expressions are intended to identify such
forward-looking statements. These statements are intended to take advantage of the “safe harbor” provisions of
the PSLRA. 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.
The following discussion contains certain cautionary statements regarding our business that investors and others
should consider. Except to the extent otherwise required by federal securities laws, we do not undertake to
address or update forward-looking statements in future filings or communications regarding our business or
operating results, and do not undertake to address how any of these factors may have caused results to differ from
discussions or information contained in previous filings or communications. In addition, any of the matters
discussed below may have affected past, as well as current, forward-looking statements about future results. Any
or all forward-looking statements in this Form 10-K and in any other public filings or statements we make may
turn out to be wrong. They can be affected by inaccurate assumptions we might make or by known or unknown
risks and uncertainties. Many factors discussed below will be important in determining future results. By their
nature, forward-looking statements are not guarantees of future performance or results and are subject to risks,
uncertainties and assumptions that are difficult to predict or quantify. Actual future results may vary materially
from expectations expressed in this report or any of our prior communications.
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