United Healthcare 2012 Annual Report Download - page 73

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UnitedHealth Group
Consolidated Statements of Cash Flows
For the Years Ended December 31,
(in millions) 2012 2011 2010
Operating activities
Net earnings ....................................................... $5,526 $ 5,142 $ 4,634
Non-cash items:
Depreciation and amortization .................................... 1,309 1,124 1,064
Deferred income taxes ........................................... 308 59 45
Share-based compensation ....................................... 421 401 326
Other, net ..................................................... (231) (67) 203
Net change in other operating items, net of effects from acquisitions and changes
in AARP balances:
Accounts receivable ............................................ (130) (267) (16)
Other assets ................................................... (295) (121) 84
Medical costs payable ........................................... 101 377 (88)
Accounts payable and other liabilities .............................. 199 146 (341)
Other policy liabilities ........................................... (81) 482 10
Unearned revenues ............................................. 28 (308) 352
Cash flows from operating activities .................................... 7,155 6,968 6,273
Investing activities
Purchases of investments ............................................ (9,903) (9,895) (7,855)
Sales of investments ................................................ 3,794 3,949 2,593
Maturities of investments ............................................ 4,810 4,251 3,105
Cash paid for acquisitions, net of cash assumed ........................... (6,280) (1,844) (2,323)
Cash received from dispositions ....................................... — 385 19
Purchases of property, equipment and capitalized software .................. (1,070) (1,067) (878)
Proceeds from disposal of property, equipment and capitalized software ....... — 49 —
Cash flows used for investing activities ................................. (8,649) (4,172) (5,339)
Financing activities
Common stock repurchases ........................................... (3,084) (2,994) (2,517)
Proceeds from common stock issuances ................................. 1,078 381 272
Cash dividends paid ................................................ (820) (651) (449)
Proceeds from (repayments of) commercial paper, net ..................... 1,587 (933) 930
Proceeds from issuance of long-term debt ............................... 3,966 2,234 747
Repayments of long-term debt ........................................ (986) (955) (1,583)
Interest rate swap termination ......................................... — 132 —
Customer funds administered ......................................... (324) 37 974
Checks outstanding ................................................. (202) 206 (5)
Acquisition of noncontrolling interest shares ............................. (319) — —
Other, net ......................................................... (425) 53 20
Cash flows from (used for) financing activities ........................... 471 (2,490) (1,611)
(Decrease) increase in cash and cash equivalents ........................ (1,023) 306 (677)
Cash and cash equivalents, beginning of period ......................... 9,429 9,123 9,800
Cash and cash equivalents, end of period .............................. $8,406 $ 9,429 $ 9,123
Supplemental cash flow disclosures
Cash paid for interest ................................................ $ 600 $ 472 $ 509
Cash paid for income taxes ........................................... 2,666 2,739 2,725
See Notes to the Consolidated Financial Statements
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