Extremely strong operating earnings and interest coverage, with EBIT interest coverage of 23.8x for the nine months ended Sept. 30, 2005. Net dividends from subsidiaries of more than $2 billion in 2004. Cash dividends from UnitedHealth Group Inc.'s largest operating subsidiary, United HealthCare Insurance Co., were $1.7 billion in 2004 and $587 million through June 30, 2005. The organization has diversified sources of revenue, both unregulated and regulated, by geographic region, business segment, and legal entity. In addition, the company is growing the portion of information and administration-based businesses that is not related to the same commercial customer base to which it supplies medical benefits and administration. Debt to capitalization was strong at 28.5% at Sept. 30, 2005. Debt to
