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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 Note 2 of Notes to the
Consolidated Financial Statements included in Part II, 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.
Intercompany Notes. In July 2015, the parent company issued $4.8 billion in intercompany notes that were used
to partially fund the Catamaran acquisition. See Note 3 of Notes to the Consolidated Financial Statements
included in Part II, Item 8, “Financial Statements” for more information about Catamaran.
In 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.
Dividends and Capital Distributions. Cash dividends received from subsidiaries and included in Cash Flows
from Operating Activities in the Condensed Statements of Cash Flows were $4.8 billion, $5.5 billion and $5.3
billion in 2015, 2014 and 2013, respectively. Additionally, in 2015, $4.4 billion in cash was received as a return
of capital to the parent company.
3. Business Combination
For information on the Catamaran acquisition, see Note 3 of Notes to the Consolidated Financial Statements
included in Part II, Item 8, “Financial Statements.”
4. Commercial Paper and Long-Term Debt
Discussion of commercial paper and long-term debt can be found in Note 9 of Notes to the Consolidated
Financial Statements included in Part II, Item 8, “Financial Statements.” Long-term debt obligations of the parent
company do not include other financing obligations at subsidiaries that totaled $164 million and $150 million at
December 31, 2015 and 2014, respectively.
Maturities of commercial paper and long-term debt for the years ending December 31 are as follows:
(in millions)
2016 .............................................................................. $ 6,583
2017 .............................................................................. 3,472
2018 .............................................................................. 2,600
2019 .............................................................................. 1,000
2020 .............................................................................. 1,950
Thereafter .......................................................................... 16,367
5. Commitments and Contingencies
For a summary of commitments and contingencies, see Note 13 of Notes to the Consolidated Financial
Statements included in Part II, Item 8, “Financial Statements.”
106