United Healthcare 2012 Annual Report Download - page 121

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Schedule I
Condensed Financial Information of Registrant
(Parent Company Only)
UnitedHealth Group
Notes to Condensed Financial Statements
1. Basis of Presentation
UnitedHealth Group’s parent company financial information has been derived from its consolidated financial
statements and should be read in conjunction with the consolidated financial statements included in this
Form 10-K. The accounting policies for the registrant are the same as those described in the Summary of
Significant Accounting Policies in Note 2 of Notes to the Consolidated Financial Statements included in Item 8,
“Financial Statements.”
2. Subsidiary Transactions
Investment in Subsidiaries. UnitedHealth Group’s investment in subsidiaries is stated at cost plus equity in
undistributed earnings of subsidiaries.
Notes Receivable from Subsidiaries. Notes issued to subsidiaries were used primarily to fund acquisitions.
During 2012, the parent company completed a non-cash exchange of a $3.9 billion intercompany note to a
subsidiary for a new term note of $2.6 billion and an equity interest of $1.3 billion.
Dividends. Cash dividends received from subsidiaries and included in Cash Flows from Operating Activities in
the Condensed Statements of Cash Flows were $7.8 billion, $5.6 billion and $4.3 billion in 2012, 2011 and 2010,
respectively.
3. Commercial Paper and Long-Term Debt
Maturities of commercial paper and long-term debt for the years ending December 31 are as follows:
(in millions)
2013 (a) ............................................................................. $2,541
2014 ................................................................................ 589
2015 ................................................................................ 1,067
2016 ................................................................................ 1,152
2017 ................................................................................ 1,281
Thereafter ............................................................................ 9,513
(a) Includes $9 million of debt subject to acceleration clauses.
Long-term debt obligations of the parent company do not include Brazilian real denominated debt of a subsidiary
with a total par value of $588 million. Further information on commercial paper and long-term debt can be found
in Note 8 of Notes to the Consolidated Financial Statements included in Item 8, “Financial Statements.”
4. Commitments and Contingencies
For a summary of commitments and contingencies, see Note 12 of Notes to the Consolidated Financial
Statements included in Item 8, “Financial Statements.”
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