United Healthcare 2007 Annual Report Download - page 21

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ITEM 6. SELECTED FINANCIAL DATA
Financial Highlights
For the Year Ended December 31,
(in millions, except per share data) 2007 (1,2) 2006 (1,2) 2005 (2) 2004 (2) 2003
Consolidated Operating Results
Revenues ................................... $75,431 $71,542 $46,425 $38,217 $29,696
Earnings From Operations ...................... $ 7,849 $ 6,984 $ 5,080 $ 3,858 $ 2,671
Net Earnings ................................ $ 4,654 $ 4,159 $ 3,083 $ 2,411 $ 1,655
Return on Shareholders’ Equity ................. 22.4% 22.2% 25.2% 29.0% 34.6%
Basic Net Earnings per Common Share ........... $ 3.55 $ 3.09 $ 2.44 $ 1.93 $ 1.40
Diluted Net Earnings per Common Share .......... $ 3.42 $ 2.97 $ 2.31 $ 1.83 $ 1.34
Common Stock Dividends per Share .............. $ 0.030 $ 0.030 $ 0.015 $ 0.015 $ 0.008
Consolidated Cash Flows From (Used For)
Operating Activities ........................... $ 5,877 $ 6,526 $ 4,083 $ 3,923 $ 2,913
Investing Activities ........................... $(4,147) $ (2,101) $ (3,489) $ (1,644) $ (745)
Financing Activities ........................... $(3,185) $ 474 $ 836 $ (550) $ (1,036)
Consolidated Financial Condition
(As of December 31)
Cash and Investments ......................... $22,286 $20,582 $14,982 $12,253 $ 9,477
Total Assets ................................. $50,899 $48,320 $41,288 $27,862 $17,668
Total Debt .................................. $11,009 $ 7,456 $ 7,095 $ 4,011 $ 1,979
Shareholders’ Equity .......................... $20,063 $20,810 $17,815 $10,772 $ 5,236
Debt-to-Total-Capital Ratio ..................... 35.4% 26.4% 28.5% 27.1% 27.4%
Financial Highlights should be read with the accompanying Management’s Discussion and Analysis of Financial
Condition and Results of Operations and Consolidated Financial Statements and Notes.
(1) On January 1, 2006, the Company began serving as a plan sponsor offering Medicare Part D drug insurance
coverage under a contract with CMS. Total revenues generated under this program were $5.9 billion and
$5.7 billion for the years ended December 31, 2007 and 2006, respectively. See Note 3 of Notes to the
Consolidated Financial Statements for a detailed discussion of this program.
(2) UnitedHealth Group acquired PacifiCare Health Systems, Inc. (PacifiCare) in December 2005 for total
consideration of approximately $8.8 billion, Oxford Health Plans, Inc. (Oxford) in July 2004 for total
consideration of approximately $5.0 billion and Mid-Atlantic Medical Services, Inc. (MAMSI) in February
2004 for total consideration of approximately $2.7 billion. The results of operations and financial condition
of PacifiCare, Oxford and MAMSI have been included in UnitedHealth Group’s Consolidated Financial
Statements since the respective acquisition dates.
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