United Healthcare 2002 Annual Report Download - page 41

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{ 40 }
UnitedHealth Group
CONSOLIDATED STATEMENTS OF OPERATIONS
For the Year Ended December 31,
(in millions, except per share data) 2002 2001 2000
REVENUES
Premiums $ 21,906 $20,683 $18,926
Services 2,894 2,490 1,964
Investment and Other Income 220 281 232
Total Revenues 25,020 23,454 21,122
MEDICAL AND OPERATING COSTS
Medical Costs 18,192 17,644 16,155
Operating Costs 4,387 3,979 3,520
Depreciation and Amortization 255 265 247
Total Medical and Operating Costs 22,834 21,888 19,922
EARNINGS FROM OPERATIONS
2,186 1,566 1,200
Gain on Disposition of UnitedHealth Capital Investments ––27
Interest Expense (90) (94) (72)
EARNINGS BEFORE INCOME TAXES
2,096 1,472 1,155
Provision for Income Taxes (744) (559) (419)
NET EARNINGS
$ 1,352 $913 $736
BASIC NET EARNINGS PER COMMON SHARE
$ 4.46
$
2.92 $2.27
DILUTED NET EARNINGS PER COMMON SHARE
$ 4.25
$
2.79 $2.19
BASIC WEIGHTED-AVERAGE NUMBER OF COMMON SHARES
OUTSTANDING
303.4 312.4 324.2
DILUTIVE EFFECT OF OUTSTANDING STOCK OPTIONS
14.7 14.4 12.3
WEIGHTED-AVERAGE NUMBER OF COMMON SHARES OUTSTANDING
ASSUMING DILUTION
318.1 326.8 336.5
See notes to consolidated financial statements.