Unitedhealth group inc
NYSE: UNH $241.38 1.94%
Balance Sheet
(in millions, except per share data) March 31, 2019 December 31, 2018
Assets
Current assets:
Cash and cash equivalents 12,407 10,866
Short-term investments 3,303 3,458
Accounts receivable, net 12,826 11,388
Other current receivables, net 7,631 6,862
Assets under management 2,951 3,032
Prepaid expenses and other current assets 3,697 3,086
Total current assets 42,815 38,692
Long-term investments 33,553 32,510
Property, equipment and capitalized software, net 8,230 8,458
Goodwill 59,379 58,910
Other intangible assets, net 9,245 9,325
Other assets 7,975 4,326
Total assets 161,197 152,221
Liabilities, redeemable noncontrolling interests and equity
Current liabilities:
Medical costs payable 21,139 19,891
Accounts payable and accrued liabilities 16,900 16,705
Commercial paper and current maturities of long-term debt 3,919 1,973
Unearned revenues 2,530 2,396
Other current liabilities 14,445 12,244
Total current liabilities 58,933 53,209
Long-term debt, less current maturities 34,419 34,581
Deferred income taxes 2,786 2,474
Other liabilities 8,554 5,730
Total liabilities 104,692 95,994
Commitments and contingencies (Note 6)
Redeemable noncontrolling interests 2,054 1,908
Equity:
Preferred stock, $0.001 par value - 10 shares authorized; no shares issued or outstanding 0 0
Common stock, $0.01 par value - 3,000 shares authorized; 953 and 960 issued and outstanding 10 10
Retained earnings 55,472 55,846
Accumulated other comprehensive loss -3,758 -4,160
Nonredeemable noncontrolling interests 2,727 2,623
Total equity 54,451 54,319
Total liabilities, redeemable noncontrolling interests and equity 161,197 152,221
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Statements of Income
Three Months Ended March 31,
(in millions, except per share data) 2019 2018
Revenues:
Premiums 47,513 44,084
Products 8,072 6,702
Services 4,318 4,104
Investment and other income 405 298
Total revenues 60,308 55,188
Operating costs:
Medical costs 38,939 35,863
Operating costs 8,517 8,506
Cost of products sold 7,381 6,184
Depreciation and amortization 639 582
Total operating costs 55,476 51,135
Earnings from operations 4,832 4,053
Interest expense -400 -329
Earnings before income taxes 4,432 3,724
Provision for income taxes -875 -800
Net earnings 3,557 2,924
Earnings attributable to noncontrolling interests -90 -88
Net earnings attributable to UnitedHealth Group common shareholders 3,467 2,836
Earnings per share attributable to UnitedHealth Group common shareholders:
Basic 3.62 2.94
Diluted 3.56 2.87
Basic weighted-average number of common shares outstanding 958 966
Dilutive effect of common share equivalents 17 21
Diluted weighted-average number of common shares outstanding 975 987
Anti-dilutive shares excluded from the calculation of dilutive effect of common share equivalents 8 7
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Cash Flows
Three Months Ended March 31,
(in millions) 2019 2018
Operating activities
Net earnings 3,557 2,924
Noncash items:
Depreciation and amortization 639 582
Deferred income taxes 134 -74
Share-based compensation 243 208
Other, net 42 27
Net change in other operating items, net of effects from acquisitions and changes in AARP balances:
Accounts receivable -1,421 -1,579
Other assets -1,495 -3,232
Medical costs payable 1,125 1,313
Accounts payable and other liabilities 318 2,821
Unearned revenues 92 5,379
Cash flows from operating activities 3,234 8,369
Investing activities
Purchases of investments -3,540 -3,891
Sales of investments 1,510 1,002
Maturities of investments 1,711 1,504
Cash paid for acquisitions, net of cash assumed -689 -2,583
Purchases of property, equipment and capitalized software -562 -477
Other, net 154 -72
Cash flows used for investing activities -1,416 -4,517
Financing activities
Common share repurchases -3,002 -2,650
Cash dividends paid -860 -722
Proceeds from common stock issuances 323 295
Repayments of long-term debt -1,250 -1,100
Proceeds from commercial paper, net 3,101 4,259
Customer funds administered 1,784 2,962
Other, net -368 -622
Cash flows (used for) from financing activities -272 2,422
Effect of exchange rate changes on cash and cash equivalents -5 -12
Increase in cash and cash equivalents 1,541 6,262
Cash and cash equivalents, beginning of period 10,866 11,981
Cash and cash equivalents, end of period 12,407 18,243
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