Summary
UnitedHealth Group Inc. (UNH) filed an 8-K on October 18, 2011, to report its third quarter 2011 results. The primary focus of this filing is the announcement of these results via a press release, which is incorporated by reference. Investors should note the company's use of a non-GAAP financial measure, specifically adjusted cash flows from operating activities, to provide a more comparable view of its performance between periods. The company highlights that this adjusted measure includes a Centers for Medicare & Medicaid Services (CMS) premium payment for October 2011 that was received in September 2011. While management believes this provides a useful perspective for comparing operational results and against industry peers, it's crucial for investors to understand its limitations. The filing explicitly states that these non-GAAP measures should not be considered superior to or a substitute for GAAP financial measures and that a reconciliation between the two is provided in the press release.
Key Highlights
- 1UnitedHealth Group (UNH) announced its third quarter 2011 financial results via an 8-K filing on October 18, 2011.
- 2The company issued a press release, incorporated by reference, detailing the Q3 2011 results.
- 3UNH utilized a non-GAAP financial measure: 'adjusted cash flows from operating activities'.
- 4This adjusted measure includes a September 2011 receipt of an October 2011 CMS premium payment.
- 5The company's management believes the non-GAAP measure enhances period-to-period comparability and industry comparisons.
- 6GAAP financial measures remain the primary basis for financial reporting, with a reconciliation provided for non-GAAP figures.
- 7The press release dated October 18, 2011, is the main exhibit attached to the 8-K.