Cover
Cover | 12 Months Ended |
Dec. 31, 2022 | |
Document Information [Line Items] | |
Document Type | DEF 14A |
Amendment Flag | false |
Entity Information [Line Items] | |
Entity Registrant Name | MOLINA HEALTHCARE, INC. |
Entity Central Index Key | 0001179929 |
Pay vs Performance Disclosure
Pay vs Performance Disclosure | 12 Months Ended | ||
Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | |
Pay vs Performance Disclosure [Table] | |||
Pay vs Performance [Table Text Block] | Year Summary Compensation Table Total for Joseph Zubretsky (1) Compensation Actually Paid to Joseph Zubretsky (1),(2),(3) Average Summary Compensation Table Total for Non-PEO NEOs (1) Average Compensation Actually Paid to Non-PEO NEOs (1),(2),(3) Value of Initial Fixed $100 Investment Based on: (4) Net Income Adjusted EPS (5) TSR Peer Group TSR ($) ($) ($) ($) ($) ($) ($ Millions) ($) (a) (b) (c) (d) (e) (f) (g) (h) (i) 2022 $ 22,131,256 $ 41,668,352 $ 5,392,703 $ 9,278,192 $ 243.36 $ 155.74 $ 792 $ 17.92 2021 $ 19,961,698 $ 75,905,547 $ 4,196,221 $ 10,545,861 $ 234.42 $ 144.27 $ 659 $ 13.54 2020 $ 17,812,327 $ 58,165,935 $ 4,428,117 $ 8,983,969 $ 156.74 $ 107.67 $ 673 $ 10.67 | ||
Company Selected Measure Name | Adjusted EPS | ||
Named Executive Officers, Footnote [Text Block] | Joseph Zubretsky was our PEO for each year presented. The individuals comprising the Non-PEO NEOs for each year presented are listed below. 2020 2021 2022 Mark L. Keim Mark L. Keim Mark L. Keim Jeff D. Barlow Jeff D. Barlow Jeff D. Barlow James E. Woys James E. Woys James E. Woys Marc S. Russo Marc S. Russo Marc S. Russo Thomas L. Tran Thomas L. Tran | ||
Peer Group Issuers, Footnote [Text Block] | The Peer Group TSR set forth in this table utilizes the peer companies (the “Compensation Peer Group”) used for compensation benchmarking purposes for the years reflected in the table above, which are listed in our Compensation Discussion & Analysis section of the proxy statement for the respective year. The Peer Group TSR is weighted according to the respective peer companies’ stock market capitalization on December 31, 2019. The comparison assumes $100 was invested for the period starting December 31, 2019, through the end of the listed year in the Company and in the Compensation Peer Group, respectively. Historical stock performance is not necessarily indicative of future stock performance. | ||
PEO Total Compensation Amount | $ 22,131,256 | $ 19,961,698 | $ 17,812,327 |
PEO Actually Paid Compensation Amount | $ 41,668,352 | 75,905,547 | 58,165,935 |
Adjustment To PEO Compensation, Footnote [Text Block] | Year Summary Compensation Table Total for Joseph Zubretsky Exclusion of Change in Pension Value for Joseph Zubretsky Exclusion of Stock Awards for Joseph Zubretsky Inclusion of Equity Values for Joseph Zubretsky Compensation Actually Paid to Joseph Zubretsky ($) ($) ($) ($) ($) 2022 $ 22,131,256 $ — $ (14,999,868) $ 34,536,964 $ 41,668,352 2021 $ 19,961,698 $ — $ (15,000,089) $ 70,943,938 $ 75,905,547 2020 $ 17,812,327 $ — $ (13,749,987) $ 54,103,595 $ 58,165,935 Year Year-End Fair Value of Equity Awards Granted During Year That Remained Unvested as of Last Day of Year for Joseph Zubretsky Change in Fair Value from Last Day of Prior Year to Last Day of Year of Unvested Equity Awards for Joseph Zubretsky Vesting-Date Fair Value of Equity Awards Granted During Year that Vested During Year for Joseph Zubretsky Change in Fair Value from Last Day of Prior Year to Vesting Date of Unvested Equity Awards that Vested During Year for Joseph Zubretsky Fair Value at Last Day of Prior Year of Equity Awards Forfeited During Year for Joseph Zubretsky Total - Inclusion of Equity Values for Joseph Zubretsky ($) ($) ($) ($) ($) ($) 2022 $ 18,454,803 $ 17,007,213 $ — $ (925,052) $ — $ 34,536,964 2021 $ 25,762,142 $ 43,145,735 $ — $ 2,036,061 $ — $ 70,943,938 2020 $ 23,862,483 $ 23,545,239 $ — $ 6,695,873 $ — $ 54,103,595 | ||
Non-PEO NEO Average Total Compensation Amount | $ 5,392,703 | 4,196,221 | 4,428,117 |
Non-PEO NEO Average Compensation Actually Paid Amount | $ 9,278,192 | 10,545,861 | 8,983,969 |
Adjustment to Non-PEO NEO Compensation Footnote [Text Block] | Year Summary Compensation Table Total for Non-PEO NEOs Average Exclusion of Change in Pension Value for Non-PEO NEOs Average Exclusion of Stock Awards for Non-PEO NEOs Average Inclusion of Equity Values for Non-PEO NEOs Average Compensation Actually Paid to Non-PEO NEOs ($) ($) ($) ($) ($) 2022 $ 5,392,703 $ — $ (3,124,960) $ 7,010,449 $ 9,278,192 2021 $ 4,196,221 $ (30,208) $ (2,149,994) $ 8,529,842 $ 10,545,861 2020 $ 4,428,117 $ (17,585) $ (2,760,008) $ 7,333,445 $ 8,983,969 Year Average Year-End Fair Value of Equity Awards Granted During Year That Remained Unvested as of Last Day of Year for Non-PEO NEOs Average Change in Fair Value from Last Day of Prior Year to Last Day of Year of Unvested Equity Awards for Non-PEO NEOs Average Vesting-Date Fair Value of Equity Awards Granted During Year that Vested During Year for Non-PEO NEOs Average Change in Fair Value from Last Day of Prior Year to Vesting Date of Unvested Equity Awards that Vested During Year for Non-PEO NEOs Average Fair Value at Last Day of Prior Year of Equity Awards Forfeited During Year for Non-PEO NEOs Total - Average Inclusion of Equity Values for Non-PEO NEOs ($) ($) ($) ($) ($) ($) 2022 $ 3,844,726 $ 3,277,011 $ — $ (111,288) $ — $ 7,010,449 2021 $ 3,692,508 $ 5,543,502 $ — $ 288,015 $ (994,183) $ 8,529,842 2020 $ 4,684,490 $ 2,673,295 $ — $ (24,340) $ — $ 7,333,445 | ||
Compensation Actually Paid vs. Total Shareholder Return [Text Block] | The following chart sets forth the relationship between Compensation Actually Paid to our PEO, the average of Compensation Actually Paid to our other NEOs, and the Company’s cumulative TSR over the three most recently completed fiscal years. | ||
Compensation Actually Paid vs. Net Income [Text Block] | The following chart sets forth the relationship between Compensation Actually Paid to our PEO, the average of Compensation Actually Paid to our other NEOs, and our net income during the three most recently completed fiscal years. | ||
Compensation Actually Paid vs. Company Selected Measure [Text Block] | The following chart sets forth the relationship between Compensation Actually Paid to our PEO, the average of Compensation Actually Paid to our other NEOs, and our Adjusted EPS during the three most recently completed fiscal years. The equity compensation actually paid to the PEO and NEOs was significantly impacted by stock price appreciation related both to the Company’s financial results and to its forward P/E multiple from significant actual and expected revenue growth. | ||
Total Shareholder Return Vs Peer Group [Text Block] | The following chart compares our cumulative TSR over the three most recently completed fiscal years to that of the Compensation Peer Group over the same period. | ||
Tabular List [Table Text Block] | The following table presents the financial performance measure that the Company considers to have been the most important in linking Compensation Actually Paid to our PEO and other NEOs for 2022 to Company performance. No other financial performance measures were used for this purpose. Performance Measures Adjusted EPS | ||
Total Shareholder Return Amount | $ 243.36 | 234.42 | 156.74 |
Peer Group Total Shareholder Return Amount | 155.74 | 144.27 | 107.67 |
Net Income (Loss) | $ 792 | $ 659 | $ 673 |
Company Selected Measure Amount | 17.92 | 13.54 | 10.67 |
PEO Name | Joseph Zubretsky | ||
Additional 402(v) Disclosure [Text Block] | The amounts shown for Compensation Actually Paid have been calculated in accordance with Item 402(v) of Regulation S-K and do not reflect compensation actually earned, realized, or received by the Company’s NEOs. These amounts reflect the Summary Compensation Table Total with certain adjustments as described in footnote 3 below. Compensation Actually Paid reflects the exclusions and inclusions of certain amounts for the PEO and the Non-PEO NEOs as set forth below. Equity values are calculated in accordance with FASB ASC Topic 718. Amounts in the Exclusion of Stock Awards column are the amounts from the Stock Awards column set forth in the Summary Compensation Table. | ||
Measure [Axis]: 1 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Adjusted EPS | ||
Non-GAAP Measure Description [Text Block] | We determined Adjusted EPS to be the most important financial performance measure used to link Company performance to Compensation Actually Paid to our PEO and Non-PEO NEOs in 2022. Adjusted EPS represents adjusted net income divided by weighted average common shares outstanding on a fully diluted basis. Adjusted net income represents GAAP net income recognizing adjustments, net of tax. Adjustments represent additions and deductions to GAAP net income which include the non-cash impact of amortization of acquired intangible assets, acquisition-related expenses, and the impact of certain expenses and other items that management believes are not indicative of longer-term business trends and operations. This performance measure may not have been the most important financial performance measure for years 2021 and 2020 and we may determine a different financial performance measure to be the most important financial performance measure in future years. | ||
PEO [Member] | Change In Pension Value [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | $ 0 | $ 0 | $ 0 |
PEO [Member] | Stock Awards Adjustments [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (14,999,868) | (15,000,089) | (13,749,987) |
PEO [Member] | Equity Award Adjustments [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 34,536,964 | 70,943,938 | 54,103,595 |
PEO [Member] | Equity Awards Granted During the Year, Unvested [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount, Equity Awards | 18,454,803 | 25,762,142 | 23,862,483 |
PEO [Member] | Equity Awards Granted in Prior Years, Unvested [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount, Equity Awards | 17,007,213 | 43,145,735 | 23,545,239 |
PEO [Member] | Equity Awards Granted During the Year, Vested [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount, Equity Awards | 0 | 0 | 0 |
PEO [Member] | Equity Awards Granted in Prior Years, Vested [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount, Equity Awards | (925,052) | 2,036,061 | 6,695,873 |
PEO [Member] | Equity Awards that Failed to Meet Vesting Conditions [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount, Equity Awards | 0 | 0 | 0 |
Non-PEO NEO [Member] | Change In Pension Value [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | (30,208) | (17,585) |
Non-PEO NEO [Member] | Stock Awards Adjustments [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (3,124,960) | (2,149,994) | (2,760,008) |
Non-PEO NEO [Member] | Equity Award Adjustments [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 7,010,449 | 8,529,842 | 7,333,445 |
Non-PEO NEO [Member] | Equity Awards Granted During the Year, Unvested [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount, Equity Awards | 3,844,726 | 3,692,508 | 4,684,490 |
Non-PEO NEO [Member] | Equity Awards Granted in Prior Years, Unvested [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount, Equity Awards | 3,277,011 | 5,543,502 | 2,673,295 |
Non-PEO NEO [Member] | Equity Awards Granted During the Year, Vested [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount, Equity Awards | 0 | 0 | 0 |
Non-PEO NEO [Member] | Equity Awards Granted in Prior Years, Vested [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount, Equity Awards | (111,288) | 288,015 | (24,340) |
Non-PEO NEO [Member] | Equity Awards that Failed to Meet Vesting Conditions [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount, Equity Awards | $ 0 | $ (994,183) | $ 0 |