United Healthcare 2002 Annual Report Download - page 51

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UnitedHealth Group
5CASH, CASH EQUIVALENTS AND INVESTMENTS
As of December 31, the amortized cost, gross unrealized gains and losses, and fair value of cash, cash
equivalents and investments were as follows (in millions):
Amortized Gross Unrealized Gross Unrealized Fair
2002 Cost Gains Losses Value
Cash and Cash Equivalents $ 1,130 $ – $ – $ 1,130
Debt Securities — Available for Sale 4,742 238 (8) 4,972
Equity Securities — Available for Sale 150 5 (5) 150
Debt Securities — Held to Maturity 77 – – 77
Total Cash and Investments $ 6,099 $ 243 $ (13) $ 6,329
2001
Cash and Cash Equivalents $1,540 $– $– $1,540
Debt Securities — Available for Sale 3,806 121 (20) 3,907
Equity Securities — Available for Sale 201 16 (46) 171
Debt Securities — Held to Maturity 80 ––80
Total Cash and Investments $5,627 $137 $(66) $5,698
As of December 31, 2002 and 2001, respectively, debt securities consisted of $1,439 million and
$1,073 million in U.S. Government and Agency obligations, $2,475 million and $1,684 million in state
and municipal obligations, and $1,135 million and $1,230 million in corporate obligations. At
December 31, 2002, we held $677 million in debt securities with maturities of less than one year,
$1,442 million in debt securities maturing in one to five years, and $2,930 million in debt securities with
maturities of more than five years.
During 2001 and 2000, respectively, we contributed UnitedHealth Capital investments valued at
approximately $22 million and $52 million to the United Health Foundation, a non-consolidated,
not-for-profit organization. The realized gains of approximately $18 million in 2001 and $51 million in
2000 were offset by related contribution expenses of $22 million in 2001 and $52 million in 2000. The net
expenses of $4 million in 2001 and $1 million in 2000 are included in Investment and Other Income in
the accompanying Consolidated Statements of Operations.
In a separate disposition of UnitedHealth Capital investments during 2000, we realized a gain
of $27 million.
We recorded realized gains and losses on sales of investments, excluding the UnitedHealth Capital
dispositions described above, as follows: For the Year Ended December 31,
(in millions) 2002 2001 2000
Gross Realized Gains $ 57 $30 $12
Gross Realized Losses (75) (19) (46)
Net Realized Gains (Losses) $ (18) $11 $(34)