United Healthcare 2013 Annual Report Download - page 115

Download and view the complete annual report

Please find page 115 of the 2013 United Healthcare annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 120

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120

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 Note 2 of Notes to the
Consolidated 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.
Transactions with Subsidiaries. During 2013, the parent company issued intercompany notes of $1.5 billion that
were used primarily to fund the purchase of Amil’s remaining public shares. Additionally in 2013, the $2.6
billion term note issued in 2012 was reclassified to long-term. 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 $5.3 billion, $7.8 billion and $5.6 billion in 2013, 2012 and 2011,
respectively.
3. Commercial Paper and Long-Term Debt
Discussion of commercial paper and long-term debt can be found in Note 8 of Notes to the Consolidated
Financial Statements. Long-term debt obligations of the parent company do not include the other financing
obligations at a subsidiary that totaled $121 million at December 31, 2013 or the Brazilian real denominated debt
of a subsidiary with a total par value of $588 million at December 31, 2012 disclosed therein.
Maturities of commercial paper and long-term debt for the years ending December 31 are as follows:
(in millions)
2014 .............................................................................. $ 1,935
2015 .............................................................................. 1,055
2016 .............................................................................. 1,134
2017 .............................................................................. 1,260
2018 .............................................................................. 1,116
Thereafter .......................................................................... 10,239
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.”
113