Document and Entity Information
Document and Entity Information Document - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Jan. 29, 2016 | Jun. 30, 2015 | |
Document Information [Line Items] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2015 | ||
Document Fiscal Year Focus | 2,015 | ||
Document Fiscal Period Focus | FY | ||
Entitiy Registrant Name | UNITEDHEALTH GROUP INC | ||
Entitiy Central Index Key | 731,766 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Large Accelerated Filer | ||
Well known seasoned issuer | Yes | ||
Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Common Stock, Shares Outstanding | 950,673,998 | ||
Closing Share Price | $ 122 | ||
Public Float | $ 114,440,856,791 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Current assets: | ||
Cash and cash equivalents | $ 10,923 | $ 7,495 |
Short-term investments | 1,988 | 1,741 |
Accounts receivable, net of allowances of $333 and $260 | 6,523 | 4,252 |
Other current receivables, net of allowances of $138 and $156 | 6,801 | 5,498 |
Assets under management | 2,998 | 2,962 |
Deferred income taxes | 860 | 556 |
Prepaid expenses and other current assets | 1,546 | 1,052 |
Total current assets | 31,639 | 23,556 |
Long-term investments | 18,792 | 18,827 |
Property, equipment and capitalized software, net of accumulated depreciation and amortization of $3,173 and $2,954 | 4,861 | 4,418 |
Goodwill | 44,453 | 32,940 |
Other intangible assets, net of accumulated amortization of $3,128 and $2,685 | 8,391 | 3,669 |
Other assets | 3,247 | 2,972 |
Total assets | 111,383 | 86,382 |
Current liabilities: | ||
Medical costs payable | 14,330 | 12,040 |
Accounts payable and accrued liabilities | 11,994 | 9,247 |
Other policy liabilities | 7,798 | 5,965 |
Commercial paper and current maturities of long-term debt | 6,634 | 1,399 |
Unearned revenues | 2,142 | 1,972 |
Total current liabilities | 42,898 | 30,623 |
Long-term debt, less current maturities | 25,460 | 16,007 |
Future policy benefits | 2,496 | 2,488 |
Deferred income taxes | 3,587 | 2,065 |
Other liabilities | 1,481 | 1,357 |
Total liabilities | 75,922 | $ 52,540 |
Commitments and contingencies (Note 13) | ||
Redeemable noncontrolling interests | 1,736 | $ 1,388 |
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 954 issued and outstanding | 10 | 10 |
Additional paid-in capital | 29 | 0 |
Retained earnings | 37,125 | 33,836 |
Accumulated other comprehensive loss | (3,334) | (1,392) |
Nonredeemable noncontrolling interest | (105) | 0 |
Total equity | 33,725 | 32,454 |
Total liabilities, redeemable noncontrolling interests and equity | $ 111,383 | $ 86,382 |
Consolidated Balance Sheet (Par
Consolidated Balance Sheet (Parenthetical) - USD ($) shares in Millions, $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Allowance for doubtful accounts, accounts receivable | $ 333 | $ 260 |
Allowance for doubtful accounts, other receivables | 138 | 156 |
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | 3,173 | 2,954 |
Finite-lived Intangible Assets, Accumulated Amortization | $ 3,128 | $ 2,685 |
Common stock, par value | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 3,000 | 3,000 |
Common stock, shares issued | 953 | 954 |
Common Stock, shares outstanding | 953 | 954 |
Preferred stock, par value | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 10 | 10 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Revenues: | |||
Premiums | $ 127,163 | $ 115,302 | $ 109,557 |
Products | 17,312 | 4,242 | 3,190 |
Services | 11,922 | 10,151 | 8,997 |
Investment and other income | 710 | 779 | 745 |
Total revenues | 157,107 | 130,474 | 122,489 |
Operating costs: | |||
Medical costs | 103,875 | 93,633 | 89,659 |
Operating costs | 24,312 | 21,263 | 18,941 |
Cost of products sold | 16,206 | 3,826 | 2,891 |
Depreciation and amortization | 1,693 | 1,478 | 1,375 |
Total operating costs | 146,086 | 120,200 | 112,866 |
Earnings from operations | 11,021 | 10,274 | 9,623 |
Interest expense | (790) | (618) | (708) |
Earnings before income taxes | 10,231 | 9,656 | 8,915 |
Provision for income taxes | (4,363) | (4,037) | (3,242) |
Net earnings | 5,868 | 5,619 | 5,673 |
Earnings attributable to noncontrolling interests | (55) | 0 | (48) |
Net earnings attributable to UnitedHealth Group common stockholders | $ 5,813 | $ 5,619 | $ 5,625 |
Earnings per share attributable to UnitedHealth Group common stockholders: | |||
Basic | $ 6.10 | $ 5.78 | $ 5.59 |
Diluted | $ 6.01 | $ 5.70 | $ 5.50 |
Basic weighted-average number of common shares outstanding | 953 | 972 | 1,006 |
Dilutive effect of common share equivalents | 14 | 14 | 17 |
Diluted weighted-average number of common shares outstanding | 967 | 986 | 1,023 |
Anti-dilutive shares excluded from the calculation of dilutive effect of common share equivalents | 8 | 6 | 8 |
Cash dividends declared per common share | $ 1.8750 | $ 1.4050 | $ 1.0525 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Net earnings | $ 5,868 | $ 5,619 | $ 5,673 |
Other comprehensive loss: | |||
Gross unrealized (losses) gains on investment securities during the period | (123) | 476 | (543) |
Income tax effect | 44 | (173) | 196 |
Total unrealized (losses) gains, net of tax | (79) | 303 | (347) |
Gross reclassification adjustment for net realized gains included in net earnings | (141) | (211) | (181) |
Income tax effect | 53 | 77 | 66 |
Total reclassification adjustment, net of tax | (88) | (134) | (115) |
Total foreign currency translation losses | (1,775) | (653) | (884) |
Other comprehensive loss | (1,942) | (484) | (1,346) |
Comprehensive income | 3,926 | 5,135 | 4,327 |
Comprehensive income attributable to noncontrolling interests | (55) | 0 | (48) |
Comprehensive income attributable to UnitedHealth Group common stockholders | $ 3,871 | $ 5,135 | $ 4,279 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Equity - USD ($) shares in Millions | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Net Unrealized Gains (Losses) on Investments [Member] | Foreign Currency Translation Losses [Member] | Nonredeemable noncontrolling interests [Member] |
Balance at Dec. 31, 2012 | $ 31,178,000,000 | $ 10,000,000 | $ 66,000,000 | $ 30,664,000,000 | $ 516,000,000 | $ (78,000,000) | $ 0 |
Balance (in shares) at Dec. 31, 2012 | 1,019 | ||||||
Net earnings attributable to UnitedHealth Group common stockholders | 5,625,000,000 | 5,625,000,000 | |||||
Net earnings attributable to nonredeemable noncontrolling interest | 0 | ||||||
Net earnings including portion attributable to nonredeemable noncontrolling interest | 5,625,000,000 | ||||||
Other comprehensive income (loss) | (1,346,000,000) | (462,000,000) | (884,000,000) | ||||
Issuances of common stock, and related tax effects (in shares) | 17 | ||||||
Issuances of common stock, and related tax effects | 431,000,000 | $ 0 | 431,000,000 | ||||
Share-based compensation, and related tax benefits | 406,000,000 | 406,000,000 | |||||
Common stock repurchases (in shares) | (48) | ||||||
Common stock repurchases | (3,170,000,000) | $ 0 | (984,000,000) | (2,186,000,000) | |||
Acquisitions of redeemable noncontrolling interests and related tax effects | 81,000,000 | 81,000,000 | |||||
Cash dividends paid on common stock | (1,056,000,000) | (1,056,000,000) | |||||
Balance at Dec. 31, 2013 | 32,149,000,000 | $ 10,000,000 | 0 | 33,047,000,000 | 54,000,000 | (962,000,000) | 0 |
Balance (in shares) at Dec. 31, 2013 | 988 | ||||||
Net earnings attributable to UnitedHealth Group common stockholders | 5,619,000,000 | 5,619,000,000 | |||||
Net earnings attributable to nonredeemable noncontrolling interest | 0 | ||||||
Net earnings including portion attributable to nonredeemable noncontrolling interest | 5,619,000,000 | ||||||
Other comprehensive income (loss) | (484,000,000) | 169,000,000 | (653,000,000) | ||||
Issuances of common stock, and related tax effects (in shares) | 15 | ||||||
Issuances of common stock, and related tax effects | 146,000,000 | $ 0 | 146,000,000 | ||||
Share-based compensation, and related tax benefits | 394,000,000 | 394,000,000 | |||||
Common stock repurchases (in shares) | (49) | ||||||
Common stock repurchases | (4,008,000,000) | $ 0 | (540,000,000) | (3,468,000,000) | |||
Cash dividends paid on common stock | (1,362,000,000) | (1,362,000,000) | |||||
Balance at Dec. 31, 2014 | $ 32,454,000,000 | $ 10,000,000 | 0 | 33,836,000,000 | 223,000,000 | (1,615,000,000) | 0 |
Balance (in shares) at Dec. 31, 2014 | 954 | 954 | |||||
Net earnings attributable to UnitedHealth Group common stockholders | $ 5,813,000,000 | 5,813,000,000 | |||||
Net earnings attributable to nonredeemable noncontrolling interest | 26,000,000 | ||||||
Net earnings including portion attributable to nonredeemable noncontrolling interest | 5,839,000,000 | ||||||
Other comprehensive income (loss) | (1,942,000,000) | (167,000,000) | (1,775,000,000) | ||||
Issuances of common stock, and related tax effects (in shares) | 10 | ||||||
Issuances of common stock, and related tax effects | 127,000,000 | $ 0 | 127,000,000 | ||||
Share-based compensation, and related tax benefits | 589,000,000 | 589,000,000 | |||||
Common stock repurchases (in shares) | (11) | ||||||
Common stock repurchases | (1,200,000,000) | $ 0 | (462,000,000) | (738,000,000) | |||
Cash dividends paid on common stock | (1,786,000,000) | (1,786,000,000) | |||||
Redeemable noncontrolling interests fair value and other adjustments | (225,000,000) | (225,000,000) | |||||
Acquisition of nonredeemable noncontrolling interest | 9,000,000 | 9,000,000 | |||||
Distributions to nonredeemable noncontrolling interest | (140,000,000) | (140,000,000) | |||||
Balance at Dec. 31, 2015 | $ 33,725,000,000 | $ 10,000,000 | $ 29,000,000 | $ 37,125,000,000 | $ 56,000,000 | $ (3,390,000,000) | $ (105,000,000) |
Balance (in shares) at Dec. 31, 2015 | 953 | 953 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Operating activities | |||
Net earnings | $ 5,868 | $ 5,619 | $ 5,673 |
Noncash items: | |||
Depreciation and amortization | 1,693 | 1,478 | 1,375 |
Deferred income taxes | (73) | (117) | 1 |
Share-based compensation | 406 | 364 | 331 |
Other, net | (235) | (298) | (83) |
Net change in other operating items, net of effects from acquisitions and changes in AARP balances: | |||
Accounts receivable | (591) | (911) | (317) |
Other assets | (1,430) | (590) | (838) |
Medical costs payable | 2,585 | 484 | 509 |
Accounts payable and other liabilities | 643 | 1,642 | 459 |
Other policy liabilities | 637 | (5) | (221) |
Unearned revenues | 237 | 385 | 102 |
Cash flows from operating activities | 9,740 | 8,051 | 6,991 |
Investing activities | |||
Purchases of investments | (9,939) | (9,928) | (12,176) |
Sales of investments | 6,054 | 7,701 | 5,706 |
Maturities of investments | 3,354 | 3,026 | 4,859 |
Cash paid for acquisitions, net of cash assumed | (16,164) | (1,923) | (362) |
Purchases of property, equipment and capitalized software | (1,556) | (1,525) | (1,307) |
Other, net | (144) | 115 | 191 |
Cash flows used for investing activities | (18,395) | (2,534) | (3,089) |
Financing activities | |||
Acquisition of redeemable noncontrolling interest shares | (118) | 0 | (1,474) |
Common stock repurchases | (1,200) | (4,008) | (3,170) |
Cash dividends paid | (1,786) | (1,362) | (1,056) |
Proceeds from common stock issuances | 402 | 462 | 598 |
Repayments of long-term debt | (1,041) | (812) | (1,609) |
Proceeds from (repayments of) commercial paper, net | 3,666 | (794) | (474) |
Proceeds from issuance of long-term debt | 11,982 | 1,997 | 2,235 |
Customer funds administered | 768 | (638) | 31 |
Other, net | (434) | (138) | (27) |
Cash flows from (used for) financing activities | 12,239 | (5,293) | (4,946) |
Effect of exchange rate changes on cash and cash equivalents | (156) | (5) | (86) |
Increase (decrease) in cash and cash equivalents | 3,428 | 219 | (1,130) |
Cash and cash equivalents, beginning of period | 7,495 | 7,276 | 8,406 |
Cash and cash equivalents, end of period | 10,923 | 7,495 | 7,276 |
Supplemental cash flow disclosures | |||
Cash paid for interest | 639 | 644 | 724 |
Cash paid for income taxes | $ 4,401 | $ 4,024 | $ 2,785 |
Description of Business (Notes)
Description of Business (Notes) | 12 Months Ended |
Dec. 31, 2015 | |
Nature of Operations [Text Block] | Description of Business UnitedHealth Group Incorporated (individually and together with its subsidiaries, “UnitedHealth Group” and “the Company”) is a diversified health and well-being company dedicated to helping people live healthier lives and making the health system work better for everyone. Through its diversified family of businesses, the Company leverages core competencies in advanced, enabling technology; health care data, information and intelligence; and clinical care management and coordination to help meet the demands of the health system. |
Basis of Presentation, Uses of
Basis of Presentation, Uses of Estimates and Significant Accounting Policies (Notes) | 12 Months Ended |
Dec. 31, 2015 | |
Basis of Presentation and Significant Accounting Policies [Text Block] | Basis of Presentation, Use of Estimates and Significant Accounting Policies Basis of Presentation The Company has prepared the Consolidated Financial Statements according to U.S. Generally Accepted Accounting Principles (GAAP) and has included the accounts of UnitedHealth Group and its subsidiaries. Use of Estimates These Consolidated Financial Statements include certain amounts based on the Company’s best estimates and judgments. The Company’s most significant estimates relate to estimates and judgments for medical costs payable and revenues, valuation and impairment analysis of goodwill and other intangible assets, estimates of other policy liabilities and other current receivables and valuations of certain investments. Certain of these estimates require the application of complex assumptions and judgments, often because they involve matters that are inherently uncertain and will likely change in subsequent periods. The impact of any change in estimates is included in earnings in the period in which the estimate is adjusted. Reclassification During the fourth quarter of 2015, the Company changed its accounting policy for the presentation of certain pharmacy fulfillment costs related to its OptumRx business. These costs are now included in medical costs and cost of products sold, whereas they were previously included in operating costs. Prior periods have been reclassified to conform to the current period presentation. The reclassification increased medical expenses by $376 million and $369 million , decreased operating costs by $418 million and $421 million and increased cost of products sold by $42 million and $52 million for the years ended December 31, 2014 and 2013, respectively. The reclassification had no impact on total operating costs, earnings from operations, net earnings, earnings per share or total equity. Reincorporation On July 1, 2015, UnitedHealth Group Incorporated changed its state of incorporation from Minnesota to Delaware pursuant to a plan of conversion. The reincorporation was approved by the Company’s stockholders at its 2015 Annual Meeting of Shareholders held on June 1, 2015. Upon reincorporation, the affairs of UnitedHealth Group Incorporated became subject to the Delaware General Corporation Law, a new certificate of incorporation and new bylaws, and each previously outstanding share of UnitedHealth Group Incorporated’s common stock as a Minnesota corporation (UNH Minnesota) converted into an outstanding share of common stock of UnitedHealth Group Incorporated as a Delaware corporation after the reincorporation (UNH Delaware). The reincorporation was a tax-free reorganization under the U.S. Internal Revenue Code and did not affect the Company’s business operations. Revenues Premium revenues are primarily derived from risk-based health insurance arrangements in which the premium is typically at a fixed rate per individual served for a one-year period, and the Company assumes the economic risk of funding its customers’ health care and related administrative costs. Premium revenues are recognized in the period in which eligible individuals are entitled to receive health care benefits. Health care premium payments received from the Company’s customers in advance of the service period are recorded as unearned revenues. Fully insured commercial products of U.S. health plans, Medicare Advantage and Medicare Prescription Drug Benefit (Medicare Part D) plans with medical loss ratios as calculated under the definitions in the Patient Protection and Affordable Care Act and a reconciliation measure, the Health Care and Education Reconciliation Act of 2010 (together, Health Reform Legislation) and implementing regulations, that fall below certain targets are required to rebate ratable portions of their premiums annually. Additionally, the Company’s market reform compliant individual and small group plans in the commercial markets are subject to risk adjustment provisions as discussed in “Premium Stabilization Programs ” below. Premium revenues are recognized based on the estimated premiums earned net of projected rebates because the Company is able to reasonably estimate the ultimate premiums of these contracts. The Company also records premium revenues from capitation arrangements at its OptumHealth businesses. The Company’s Medicare Advantage and Medicare Part D premium revenues are subject to periodic adjustment under the Centers for Medicare & Medicaid Services’ (CMS) risk adjustment payment methodology. CMS deploys a risk adjustment model that apportions premiums paid to all health plans according to health severity and certain demographic factors. The CMS risk adjustment model provides higher per member payments for enrollees diagnosed with certain conditions and lower payments for enrollees who are healthier. Under this risk adjustment methodology, CMS calculates the risk adjusted premium payment using diagnosis data from hospital inpatient, hospital outpatient and physician treatment settings. The Company and health care providers collect, capture and submit the necessary and available diagnosis data to CMS within prescribed deadlines. The Company estimates risk adjustment revenues based upon the diagnosis data submitted and expected to be submitted to CMS. Risk adjustment data for certain of the Company’s plans are subject to review by the government, including audit by regulators. See Note 13 for additional information regarding these audits. For the Company’s OptumRx pharmacy care services business, revenues are derived from products sold through a contracted network of retail pharmacies or home delivery and specialty pharmacy facilities, and from administrative services, including claims processing and formulary design and management. Product revenues include ingredient costs (net of rebates), a negotiated dispensing fee and customer co-payments for drugs dispensed through the Company’s mail-service pharmacy. In retail pharmacy transactions, revenues recognized exclude the member’s applicable co-payment. Product revenues are recognized when the prescriptions are dispensed through the retail network or received by consumers through the Company’s mail-service pharmacy. Service revenues are recognized when the prescription claim is adjudicated. The Company has entered into retail service contracts in which it is primarily obligated to pay its network pharmacy providers for benefits provided to their customers regardless if the Company is paid. The Company is also involved in establishing the prices charged by retail pharmacies, determining which drugs will be included in formulary listings and selecting which retail pharmacies will be included in the network offered to plan sponsors’ members. As a result, revenues are reported on a gross basis. Service revenues consist primarily of fees derived from services performed for customers that self-insure the health care costs of their employees and employees’ dependents. Under service fee contracts, the Company recognizes revenue in the period the related services are performed. The customers retain the risk of financing health care costs for their employees and employees’ dependents, and the Company administers the payment of customer funds to physicians and other health care professionals from customer-funded bank accounts. As the Company has neither the obligation for funding the health care costs, nor the primary responsibility for providing the medical care, the Company does not recognize premium revenue and medical costs for these contracts in its Consolidated Financial Statements. For both risk-based and fee-based customer arrangements, the Company provides coordination and facilitation of medical services; transaction processing; customer, consumer and care professional services; and access to contracted networks of physicians, hospitals and other health care professionals. These services are performed throughout the contract period. Medical Costs and Medical Costs Payable Medical costs and medical costs payable include estimates of the Company’s obligations for medical care services that have been rendered on behalf of insured consumers, but for which claims have either not yet been received or processed, and for liabilities for physician, hospital and other medical cost disputes. The Company develops estimates for medical costs incurred but not reported using an actuarial process that is consistently applied, centrally controlled and automated. The actuarial models consider factors such as time from date of service to claim receipt, claim processing backlogs, care provider contract rate changes, medical care utilization and other medical cost trends. The Company estimates liabilities for physician, hospital and other medical cost disputes based upon an analysis of potential outcomes, assuming a combination of litigation and settlement strategies. Each period, the Company re-examines previously established medical costs payable estimates based on actual claim submissions and other changes in facts and circumstances. As the medical costs payable estimates recorded in prior periods develop, the Company adjusts the amount of the estimates and includes the changes in estimates in medical costs in the period in which the change is identified. Medical costs also include the direct cost of patient care. Cost of Products Sold The Company’s cost of products sold includes the cost of pharmaceuticals dispensed to unaffiliated customers either directly at its mail and specialty pharmacy locations, or indirectly through its nationwide network of participating pharmacies. Rebates attributable to non-affiliated clients are accrued as rebates receivable and a reduction of cost of products sold with a corresponding payable for the amounts of the rebates to be remitted to those non-affiliated clients in accordance with their contracts and recorded in the Consolidated Statements of Operations as a reduction of product revenue. Cost of products sold also includes the cost of personnel to support the Company’s transaction processing services, system sales, maintenance and professional services. Cash, Cash Equivalents and Investments Cash and cash equivalents are highly liquid investments that have an original maturity of three months or less. The fair value of cash and cash equivalents approximates their carrying value because of the short maturity of the instruments. Investments with maturities of less than one year are classified as short-term. Because of regulatory requirements, certain investments are included in long-term investments regardless of their maturity date. The Company classifies these investments as held-to-maturity and reports them at amortized cost. Substantially all other investments are classified as available-for-sale and reported at fair value based on quoted market prices, where available. The Company excludes unrealized gains and losses on investments in available-for-sale securities from net earnings and reports them as comprehensive income and, net of income tax effects, as a separate component of equity. To calculate realized gains and losses on the sale of investments, the Company specifically identifies the cost of each investment sold. The Company evaluates an investment for impairment by considering the length of time and extent to which market value has been less than cost or amortized cost, the financial condition and near-term prospects of the issuer as well as specific events or circumstances that may influence the operations of the issuer and the Company’s intent to sell the security or the likelihood that it will be required to sell the security before recovery of the entire amortized cost. New information and the passage of time can change these judgments. The Company manages its investment portfolio to limit its exposure to any one issuer or market sector, and largely limits its investments to investment grade quality. Securities downgraded below policy minimums after purchase will be disposed of in accordance with the Company’s investment policy. Assets Under Management The Company provides health insurance products and services to members of AARP under a Supplemental Health Insurance Program (the AARP Program) and to AARP members and non-members under separate Medicare Advantage and Medicare Part D arrangements. The products and services under the AARP Program include supplemental Medicare benefits (AARP Medicare Supplement Insurance), hospital indemnity insurance, including insurance for individuals between 50 to 64 years of age and other related products. Pursuant to the Company’s agreement, AARP Program assets are managed separately from its general investment portfolio and are used to pay costs associated with the AARP Program. These assets are invested at the Company’s discretion, within investment guidelines approved by AARP. The Company does not guarantee any rates of return on these investments and, upon any transfer of the AARP Program contract to another entity, the Company would transfer cash equal in amount to the fair value of these investments at the date of transfer to that entity. Because the purpose of these assets is to fund the medical costs payable, the rate stabilization fund (RSF) liabilities and other related liabilities associated with this AARP contract, assets under management are classified as current assets, consistent with the classification of these liabilities. The effects of changes in other balance sheet amounts associated with the AARP Program also accrue to the overall benefit of the AARP policyholders through the RSF balance. Accordingly, the Company excludes the effect of such changes in its Consolidated Statements of Cash Flows. For more detail on the RSF, see “Other Policy Liabilities” below. Other Current Receivables Other current receivables include amounts due from pharmaceutical manufacturers for rebates and Medicare Part D drug discounts, reinsurance and other miscellaneous amounts due to the Company. The Company’s pharmacy care services businesses contract with pharmaceutical manufacturers, some of which provide rebates based on use of the manufacturers’ products by its affiliated and non-affiliated clients. The Company accrues rebates as they are earned by its clients on a monthly basis based on the terms of the applicable contracts, historical data and current estimates. The pharmacy care services businesses bill these rebates to the manufacturers on a monthly or quarterly basis depending on the contractual terms and records rebates attributable to affiliated clients as a reduction to medical costs. The Company generally receives rebates from two to five months after billing. As of December 31, 2015 and 2014, total pharmaceutical manufacturer rebates receivable included in other receivables in the Consolidated Balance Sheets amounted to $2.6 billion and $1.5 billion, respectively. For details on the Company’s Medicare Part D receivables see “Medicare Part D Pharmacy Benefits” below. For details on the Company’s reinsurance receivable see “Future Policy Benefits and Reinsurance Receivable” below. Medicare Part D Pharmacy Benefits The Company serves as a plan sponsor offering Medicare Part D prescription drug insurance coverage under contracts with CMS. Under the Medicare Part D program, there are seven separate elements of payment received by the Company during the plan year. These payment elements are as follows: • CMS Premium. CMS pays a fixed monthly premium per member to the Company for the entire plan year. • Member Premium. Additionally, certain members pay a fixed monthly premium to the Company for the entire plan year. • Low-Income Premium Subsidy. For qualifying low-income members, CMS pays some or all of the member’s monthly premiums to the Company on the member’s behalf. • Catastrophic Reinsurance Subsidy . CMS pays the Company a cost reimbursement estimate monthly to fund the CMS obligation to pay approximately 80% of the costs incurred by individual members in excess of the individual annual out-of-pocket maximum. A settlement is made with CMS based on actual cost experience, after the end of the plan year. • Low-Income Member Cost Sharing Subsidy. For qualifying low-income members, CMS pays on the member’s behalf some or all of a member’s cost sharing amounts, such as deductibles and coinsurance. The cost sharing subsidy is funded by CMS through monthly payments to the Company. The Company administers and pays the subsidized portion of the claims on behalf of CMS, and a settlement payment is made between CMS and the Company based on actual claims and premium experience, after the end of the plan year. • CMS Risk-Share. Premiums from CMS are subject to risk corridor provisions that compare costs targeted in the Company’s annual bids by product and region to actual prescription drug costs, limited to actual costs that would have been incurred under the standard coverage as defined by CMS. Variances of more than 5% above or below the original bid submitted by the Company may result in CMS making additional payments to the Company or require the Company to refund to CMS a portion of the premiums it received. The Company estimates and recognizes an adjustment to premium revenues related to the risk corridor payment settlement based upon pharmacy claims experience to date. The estimate of the settlement associated with these risk corridor provisions requires the Company to consider factors that may not be certain, including estimates of eligible pharmacy costs and member eligibility status differences with CMS. The Company records risk-share adjustments to premium revenues in the Consolidated Statements of Operations and other policy liabilities or other current receivables in the Consolidated Balance Sheets. • Drug Discount. Health Reform Legislation mandated a consumer discount on brand name prescription drugs for Medicare Part D plan participants in the coverage gap. This discount is funded by CMS and pharmaceutical manufacturers while the Company administers the application of these funds. Accordingly, amounts received are not reflected as premium revenues, but rather are accounted for as deposits. The Company records a liability when amounts are received from CMS and a receivable when the Company bills the pharmaceutical manufacturers. Related cash flows are presented as customer funds administered within financing activities in the Consolidated Statements of Cash Flows. The CMS Premium, the Member Premium and the Low-Income Premium Subsidy represent payments for the Company’s insurance risk coverage under the Medicare Part D program and, therefore, are recorded as premium revenues in the Consolidated Statements of Operations. Premium revenues are recognized ratably over the period in which eligible individuals are entitled to receive prescription drug benefits. The Company records premium payments received in advance of the applicable service period in unearned revenues in the Consolidated Balance Sheets. The Catastrophic Reinsurance Subsidy and the Low-Income Member Cost Sharing Subsidy (Subsidies) represent cost reimbursements under the Medicare Part D program. Amounts received for these Subsidies are not reflected as premium revenues, but rather are accounted for as receivables and/or deposits. Related cash flows are presented as customer funds administered within financing activities in the Consolidated Statements of Cash Flows. Pharmacy benefit costs and administrative costs under the contract are expensed as incurred and are recognized in medical costs and operating costs, respectively, in the Consolidated Statements of Operations. The final 2015 risk-share amount is expected to be settled during the second half of 2016, and is subject to the reconciliation process with CMS. The Consolidated Balance Sheets include the following amounts associated with the Medicare Part D program: December 31, 2015 December 31, 2014 (in millions) Subsidies Drug Discount Risk-Share Subsidies Drug Discount Risk-Share Other current receivables $ 1,703 $ 423 $ — $ 1,801 $ 719 $ 20 Other policy liabilities — 58 496 — 302 — Property, Equipment and Capitalized Software Property, equipment and capitalized software are stated at cost, net of accumulated depreciation and amortization. Capitalized software consists of certain costs incurred in the development of internal-use software, including external direct costs of materials and services and applicable payroll costs of employees devoted to specific software development. The Company calculates depreciation and amortization using the straight-line method over the estimated useful lives of the assets. The useful lives for property, equipment and capitalized software are: Furniture, fixtures and equipment 3 to 7 years Buildings 35 to 40 years Capitalized software 3 to 5 years Leasehold improvements are depreciated over the shorter of the remaining lease term or their estimated useful economic life. Goodwill To determine whether goodwill is impaired, annually or more frequently if needed, the Company performs a multi-step impairment test. First, the Company estimates the fair values of its reporting units using discounted cash flows. To determine fair values, the Company must make assumptions about a wide variety of internal and external factors. Significant assumptions used in the impairment analysis include financial projections of free cash flow (including significant assumptions about operations, capital requirements and income taxes), long-term growth rates for determining terminal value and discount rates. Comparative market multiples are used to corroborate the results of the discounted cash flow test. If the fair value is less than the carrying value of the reporting unit, then the implied value of goodwill would be calculated and compared to the carrying amount of goodwill to determine whether goodwill is impaired. During 2015, the Company changed its annual quantitative goodwill impairment testing date from January 1 to October 1 of each year. The change in the goodwill impairment test date better aligns the impairment testing procedures with the timing of the Company’s long-term planning process, which is a significant input to the testing. This change in testing date did not delay, accelerate, or avoid a goodwill impairment charge. There was no impairment of goodwill during the year ended December 31, 2015 . Intangible Assets The Company’s intangible assets are subject to impairment tests when events or circumstances indicate that an intangible asset (or asset group) may be impaired. The Company’s indefinite lived intangible assets are also tested for impairment annually. There was no impairment of intangible assets during the year ended December 31, 2015 . Accounts Payable and Accrued Liabilities The Company had checks outstanding of $1.6 billion and $1.4 billion as of December 31, 2015 and 2014, respectively, which were classified as accounts payable and accrued liabilities and the change in this balance has been reflected within other financing activities in the Consolidated Statements of Cash Flows. As of both December 31, 2015 and 2014, accounts payable and accrued liabilities included accrued payroll liabilities of $1.5 billion . Other Policy Liabilities Other policy liabilities include the RSF associated with the AARP Program, health savings account deposits, deposits under the Medicare Part D program (see “Medicare Part D Pharmacy Benefits” above), accruals for premium rebate payments under Health Reform Legislation, the current portion of future policy benefits and customer balances. Customer balances represent excess customer payments and deposit accounts under experience-rated contracts. At the customer’s option, these balances may be refunded or used to pay future premiums or claims under eligible contracts. Changes in the RSF are reported in medical costs in the Consolidated Statement of Operations. As of December 31, 2015 and 2014, the balance in the RSF was $1.6 billion and $1.5 billion , respectively. Future Policy Benefits and Reinsurance Receivable Future policy benefits represent account balances that accrue to the benefit of the policyholders, excluding surrender charges, for universal life and investment annuity products and for long-duration health policies sold to individuals for which some of the premium received in the earlier years is intended to pay benefits to be incurred in future years. As a result of the 2005 sale of the life and annuity business within the Company’s Golden Rule Financial Corporation subsidiary under an indemnity reinsurance arrangement, the Company has maintained a liability associated with the reinsured contracts, as it remains primarily liable to the policyholders, and has recorded a corresponding reinsurance receivable due from the purchaser. The Consolidated Balance Sheets include the following amounts associated with Golden Rule as of December 31, 2015 and 2014: (in millions) 2015 2014 Other current receivables $ 133 $ 127 Other assets 1,610 1,669 Other policy liabilities (133 ) (127 ) Future policy benefits (1,610 ) (1,669 ) The Company evaluates the financial condition of the reinsurer and only records the reinsurance receivable to the extent of probable recovery. As of December 31, 2015 , the reinsurer was rated by A.M. Best as “A+.” Policy Acquisition Costs The Company’s short duration health insurance contracts typically have a one-year term and may be canceled by the customer with at least 30 days’ notice. Costs related to the acquisition and renewal of short duration customer contracts are charged to expense as incurred. Redeemable Noncontrolling Interests Redeemable noncontrolling interests in the Company’s subsidiaries whose redemption is outside the control of the Company are classified as temporary equity. The following table provides details of the Company's redeemable noncontrolling interests activity for the years ended December 31, 2015 and 2014 : (in millions) 2015 2014 Redeemable noncontrolling interests, beginning of period $ 1,388 $ 1,175 Net earnings 29 — Acquisitions 196 203 Redemptions (116 ) — Distributions (19 ) (40 ) Fair value and other adjustments 258 50 Redeemable noncontrolling interests, end of period $ 1,736 $ 1,388 Share-Based Compensation The Company recognizes compensation expense for share-based awards, including stock options, stock-settled stock appreciation rights (SARs) and restricted stock and restricted stock units (collectively, restricted shares), on a straight-line basis over the related service period (generally the vesting period) of the award, or to an employee’s eligible retirement date under the award agreement, if earlier. Restricted shares vest ratably; primarily over two to five years and compensation expense related to restricted shares is based on the share price on date of grant. Stock options and SARs vest ratably primarily over four to six years and may be exercised up to 10 years from the date of grant. Compensation expense related to stock options and SARs is based on the fair value at date of grant, which is estimated on the date of grant using a binomial option-pricing model. Under the Company’s Employee Stock Purchase Plan (ESPP) eligible employees are allowed to purchase the Company’s stock at a discounted price, which is 85% of the lower market price of the Company’s common stock at the beginning or at the end of the six-month purchase period. Share-based compensation expense for all programs is recognized in operating costs in the Company’s Consolidated Statements of Operations. Net Earnings Per Common Share The Company computes basic earnings per common share attributable to UnitedHealth Group common stockholders by dividing net earnings attributable to UnitedHealth Group common stockholders by the weighted-average number of common shares outstanding during the period. The Company determines diluted net earnings per common share attributable to UnitedHealth Group common stockholders using the weighted-average number of common shares outstanding during the period, adjusted for potentially dilutive shares associated with stock options, SARs, restricted shares and the ESPP, (collectively, common stock equivalents) using the treasury stock method. The treasury stock method assumes a hypothetical issuance of shares to settle the share-based awards, with the assumed proceeds used to purchase common stock at the average market price for the period. Assumed proceeds include the amount the employee must pay upon exercise, any unrecognized compensation cost and any related excess tax benefit. The difference between the number of shares assumed issued and number of shares assumed purchased represents the dilutive shares. Health Insurance Industry Tax Health Reform Legislation includes an annual, nondeductible insurance industry tax (Health Insurance Industry Tax) to be levied proportionally across the insurance industry for risk-based health insurance products. The Company estimates its liability for the Health Insurance Industry Tax based on a ratio of the Company’s applicable net premiums written compared to the U.S. health insurance industry total applicable net premiums, both for the previous calendar year. The Company records in full the estimated liability for the Health Insurance Industry Tax at the beginning of the calendar year with a corresponding deferred cost that is amortized to operating costs on the Consolidated Statements of Operations using a straight-line method of allocation over the calendar year. The liability is recorded in accounts payable and accrued liabilities and the corresponding deferred cost is recorded in prepaid expenses and other current assets on the Consolidated Balance Sheets. In September 2015, the Company paid its full year 2015 Health Insurance Industry Tax of $1.8 billion . There was no liability or asset related to the Health Insurance Industry Tax recorded as of both December 31, 2015 and 2014 as the Health Insurance Industry Tax was paid in September of both years and the asset was fully expensed by each year end. Premium Stabilization Programs Health Reform Legislation has included three programs designed to stabilize health insurance markets (Premium Stabilization Programs): a permanent risk adjustment program; a temporary risk corridors program; and a transitional reinsurance program (Reinsurance Program). The risk-adjustment provisions apply to market reform compliant individual and small group plans in the commercial markets. Under the program, each covered member is assigned a risk score based upon demographic information and applicable diagnostic codes from the current year paid claims, in order to determine an average risk score for each plan in a particular state and market risk pool. Generally, a plan with a risk score that is less than the state’s average risk score will pay into the pool, while a plan with a risk score that is greater than the state’s average will receive money from the pool. The temporary risk corridors provisions are intended to limit the gains and losses of individual and small group qualified health plans. Plans are required to calculate the U.S. Department of Health and Human Services (HHS) risk corridor ratio of allowable costs to the defined target amount. Qualified health plans with ratios below 97% are required to make payments to HHS, while plans with ratios greater than 103% expect to receive funds from HHS. The Reinsurance Program is a transitional three year program through 2016 that is funded on a per capita basis from all commercial lines of business, including insured and self-funded arrangements. For the Premium Stabilization Programs, the Company records a receivable or payable as an adjustment to premium revenue based on year-to-date experience when the amounts are reasonably estimable and collection is reasonably assured. Final adjustments or recoverable amounts to the Premium Stabilization Programs are determined by HHS in the year following the policy year. Recently Issued Accounting Standards In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standard Update (ASU) No. 2014-09, “Revenue from Contracts with Customers (Topic 606)” (ASU 2014-09) as modified by ASU No. 2015-14, “Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date.” ASU 2014-09 will supersede existing revenue recognition standards with a single model unless those contracts are within the scope of other standards (e.g., an insurance entity’s insurance contracts). The revenue recognition principle in ASU 2014-09 is that an entity should recognize revenue to depict the transfer of goods or services to customers in an a |
Business Combination (Notes)
Business Combination (Notes) | 12 Months Ended |
Dec. 31, 2015 | |
Business Acquisition [Line Items] | |
Business Combination Disclosure [Text Block] | Business Combination On July 23, 2015, the Company acquired all of the outstanding common shares of Catamaran Corporation (Catamaran) and funded Catamaran’s payoff of its outstanding debt and credit facility for a total of $14.3 billion in cash. This combination diversifies OptumRx’s customer and business mix, while enhancing OptumRx’s technology capabilities and flexible service offerings. Catamaran offers pharmacy benefits management services similar to OptumRx to a broad client portfolio, including health plans and employers serving 35 million people, and provides health care information technology solutions to the pharmacy benefits management industry. The Company paid for the acquisition primarily with the proceeds of new indebtedness. Debt issuances included $10.5 billion of senior unsecured notes, approximately $2.4 billion of commercial paper and a $1.5 billion term loan. The total consideration exceeded the estimated fair value of the net tangible assets acquired by $15.6 billion , of which $5.4 billion has been allocated to finite-lived intangible assets and $10.2 billion to goodwill. The goodwill is not deductible for income tax purposes. Acquired tangible assets (liabilities) for Catamaran at acquisition date were: (in millions) Cash and cash equivalents $ 299 Accounts receivable and other current assets 2,005 Rebates receivable 602 Property, equipment and other long-term assets 215 Accounts payable and other current liabilities (2,525 ) Deferred income taxes and other long-term liabilities (1,923 ) Total net tangible liabilities $ (1,327 ) Since the Catamaran acquisition closed during the third quarter of 2015, the preliminary purchase price allocation is subject to adjustment as valuation analyses, primarily related to intangible assets and contingent and tax liabilities, are finalized. The acquisition date fair values and weighted-average useful lives assigned to Catamaran’s finite-lived intangible assets were: (in millions, except years) Fair Value Weighted-Average Useful Life Customer-related $ 5,278 19 years Trademarks and technology 159 4 years Total acquired finite-lived intangible assets $ 5,437 19 years The results of operations and financial condition of Catamaran have been included in the Company’s consolidated results and the results of the OptumRx segment as of July 23, 2015. Through December 31, 2015, the Catamaran business has generated $12.4 billion in revenue and had an immaterial impact on net earnings. Unaudited pro forma revenue for the years ended December 31, 2015 and 2014 as if the acquisition of Catamaran had occurred on January 1, 2014 were $172 billion and $152 billion , respectively. The pro forma effects of this acquisition on net earnings were immaterial for both years. |
Investments (Notes)
Investments (Notes) | 12 Months Ended |
Dec. 31, 2015 | |
Investments [Abstract] | |
Investments [Text Block] | Investments A summary of short-term and long-term investments by major security type is as follows: (in millions) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value December 31, 2015 Debt securities - available-for-sale: U.S. government and agency obligations $ 1,982 $ 1 $ (6 ) $ 1,977 State and municipal obligations 6,022 149 (3 ) 6,168 Corporate obligations 7,446 41 (81 ) 7,406 U.S. agency mortgage-backed securities 2,127 13 (16 ) 2,124 Non-U.S. agency mortgage-backed securities 962 5 (11 ) 956 Total debt securities - available-for-sale 18,539 209 (117 ) 18,631 Equity securities - available-for-sale 1,638 58 (57 ) 1,639 Debt securities - held-to-maturity: U.S. government and agency obligations 163 1 — 164 State and municipal obligations 8 — — 8 Corporate obligations 339 — — 339 Total debt securities - held-to-maturity 510 1 — 511 Total investments $ 20,687 $ 268 $ (174 ) $ 20,781 December 31, 2014 Debt securities - available-for-sale: U.S. government and agency obligations $ 1,614 $ 7 $ (1 ) $ 1,620 State and municipal obligations 6,456 217 (5 ) 6,668 Corporate obligations 7,241 112 (26 ) 7,327 U.S. agency mortgage-backed securities 2,022 39 (5 ) 2,056 Non-U.S. agency mortgage-backed securities 872 12 (4 ) 880 Total debt securities - available-for-sale 18,205 387 (41 ) 18,551 Equity securities - available-for-sale 1,511 36 (25 ) 1,522 Debt securities - held-to-maturity: U.S. government and agency obligations 178 2 — 180 State and municipal obligations 19 — — 19 Corporate obligations 298 — — 298 Total debt securities - held-to-maturity 495 2 — 497 Total investments $ 20,211 $ 425 $ (66 ) $ 20,570 Nearly all of the Company’s investments in mortgage-backed securities were rated AAA as of December 31, 2015 . The amortized cost and fair value of debt securities as of December 31, 2015 , by contractual maturity, were as follows: Available-for-Sale Held-to-Maturity (in millions) Amortized Cost Fair Value Amortized Fair Due in one year or less $ 2,103 $ 2,105 $ 121 $ 121 Due after one year through five years 6,830 6,843 188 188 Due after five years through ten years 4,752 4,793 118 118 Due after ten years 1,765 1,810 83 84 U.S. agency mortgage-backed securities 2,127 2,124 — — Non-U.S. agency mortgage-backed securities 962 956 — — Total debt securities $ 18,539 $ 18,631 $ 510 $ 511 The fair value of available-for-sale investments with gross unrealized losses by major security type and length of time that individual securities have been in a continuous unrealized loss position were as follows: Less Than 12 Months 12 Months or Greater Total (in millions) Fair Value Gross Unrealized Losses Fair Value Gross Fair Value Gross December 31, 2015 Debt securities - available-for-sale: U.S. government and agency obligations $ 1,473 $ (6 ) $ — $ — $ 1,473 $ (6 ) State and municipal obligations 650 (3 ) — — 650 (3 ) Corporate obligations 4,629 (63 ) 339 (18 ) 4,968 (81 ) U.S. agency mortgage-backed securities 1,304 (12 ) 116 (4 ) 1,420 (16 ) Non-U.S. agency mortgage-backed securities 593 (7 ) 127 (4 ) 720 (11 ) Total debt securities - available-for-sale $ 8,649 $ (91 ) $ 582 $ (26 ) $ 9,231 $ (117 ) Equity securities - available-for-sale $ 112 $ (11 ) $ 89 $ (46 ) $ 201 $ (57 ) December 31, 2014 Debt securities - available-for-sale: U.S. government and agency obligations $ 420 $ (1 ) $ — $ — $ 420 $ (1 ) State and municipal obligations 711 (4 ) 99 (1 ) 810 (5 ) Corporate obligations 2,595 (17 ) 464 (9 ) 3,059 (26 ) U.S. agency mortgage-backed securities — — 272 (5 ) 272 (5 ) Non-U.S. agency mortgage-backed securities 254 (2 ) 114 (2 ) 368 (4 ) Total debt securities - available-for-sale $ 3,980 $ (24 ) $ 949 $ (17 ) $ 4,929 $ (41 ) Equity securities - available-for-sale $ 107 $ (6 ) $ 88 $ (19 ) $ 195 $ (25 ) The Company’s unrealized losses from all securities as of December 31, 2015 were generated from approximately 11,000 positions out of a total of 24,000 positions. The Company believes that it will collect the principal and interest due on its debt securities that have an amortized cost in excess of fair value. The unrealized losses were primarily caused by interest rate increases and not by unfavorable changes in the credit quality associated with these securities. At each reporting period, the Company evaluates securities for impairment when the fair value of the investment is less than its amortized cost. The Company evaluated the underlying credit quality and credit ratings of the issuers, noting neither a significant deterioration since purchase nor other factors leading to an other-than-temporary impairment (OTTI). As of December 31, 2015 , the Company did not have the intent to sell any of the securities in an unrealized loss position. Therefore, the Company believes these losses to be temporary. The Company’s investments in equity securities consist of investments in Brazilian real denominated fixed-income funds, employee savings plan related investments, venture capital funds and dividend paying stocks. The Company evaluated its investments in equity securities for severity and duration of unrealized loss, overall market volatility and other market factors. Net realized gains reclassified out of accumulated other comprehensive income were from the following sources: For the Years Ended December 31, (in millions) 2015 2014 2013 Total OTTI $ (22 ) $ (26 ) $ (8 ) Portion of loss recognized in other comprehensive income — — — Net OTTI recognized in earnings (22 ) (26 ) (8 ) Gross realized losses from sales (28 ) (47 ) (9 ) Gross realized gains from sales 191 284 198 Net realized gains (included in investment and other income on the Consolidated Statements of Operations) 141 211 181 Income tax effect (included in provision for income taxes on the Consolidated Statements of Operations) (53 ) (77 ) (66 ) Realized gains, net of taxes $ 88 $ 134 $ 115 |
Fair Value (Notes)
Fair Value (Notes) | 12 Months Ended |
Dec. 31, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value [Text Block] | Fair Value Certain assets and liabilities are measured at fair value in the Consolidated Financial Statements or have fair values disclosed in the Notes to the Consolidated Financial Statements. These assets and liabilities are classified into one of three levels of a hierarchy defined by GAAP. In instances in which the inputs used to measure fair value fall into different levels of the fair value hierarchy, the fair value measurement is categorized in its entirety based on the lowest level input that is significant to the fair value measurement in its entirety. The Company’s assessment of the significance of a particular item to the fair value measurement in its entirety requires judgment, including the consideration of inputs specific to the asset or liability. The fair value hierarchy is summarized as follows: Level 1 — Quoted prices (unadjusted) for identical assets/liabilities in active markets. Level 2 — Other observable inputs, either directly or indirectly, including: • Quoted prices for similar assets/liabilities in active markets; • Quoted prices for identical or similar assets/liabilities in inactive markets (e.g., few transactions, limited information, noncurrent prices, high variability over time); • Inputs other than quoted prices that are observable for the asset/liability (e.g., interest rates, yield curves, implied volatilities, credit spreads); and • Inputs that are corroborated by other observable market data. Level 3 — Unobservable inputs that cannot be corroborated by observable market data. Transfers between levels, if any, are recorded as of the beginning of the reporting period in which the transfer occurs; there were no transfers between Levels 1, 2 or 3 of any financial assets or liabilities during 2015 or 2014 . Nonfinancial assets and liabilities or financial assets and liabilities that are measured at fair value on a nonrecurring basis are subject to fair value adjustments only in certain circumstances, such as when the Company records an impairment. There were no significant fair value adjustments for these assets and liabilities recorded during the years ended December 31, 2015 or 2014 . The following methods and assumptions were used to estimate the fair value and determine the fair value hierarchy classification of each class of financial instrument included in the tables below: Cash and Cash Equivalents. The carrying value of cash and cash equivalents approximates fair value as maturities are less than three months. Fair values of cash equivalent instruments that do not trade on a regular basis in active markets are classified as Level 2. Debt and Equity Securities. Fair values of debt and equity securities are based on quoted market prices, where available. The Company obtains one price for each security primarily from a third-party pricing service (pricing service), which generally uses quoted or other observable inputs for the determination of fair value. The pricing service normally derives the security prices through recently reported trades for identical or similar securities, and, if necessary, makes adjustments through the reporting date based upon available observable market information. For securities not actively traded, the pricing service may use quoted market prices of comparable instruments or discounted cash flow analyses, incorporating inputs that are currently observable in the markets for similar securities. Inputs that are often used in the valuation methodologies include, but are not limited to, benchmark yields, credit spreads, default rates, prepayment speeds and nonbinding broker quotes. As the Company is responsible for the determination of fair value, it performs quarterly analyses on the prices received from the pricing service to determine whether the prices are reasonable estimates of fair value. Specifically, the Company compares the prices received from the pricing service to prices reported by a secondary pricing source, such as its custodian, its investment consultant and third-party investment advisors. Additionally, the Company compares changes in the reported market values and returns to relevant market indices to test the reasonableness of the reported prices. The Company’s internal price verification procedures and reviews of fair value methodology documentation provided by independent pricing services have not historically resulted in adjustment in the prices obtained from the pricing service. Fair values of debt securities that do not trade on a regular basis in active markets but are priced using other observable inputs are classified as Level 2. Fair value estimates for Level 1 and Level 2 equity securities are based on quoted market prices for actively traded equity securities and/or other market data for the same or comparable instruments and transactions in establishing the prices. The fair values of Level 3 investments in venture capital portfolios are estimated using a market valuation technique that relies heavily on management assumptions and qualitative observations. Under the market approach, the fair values of the Company’s various venture capital investments are computed using limited quantitative and qualitative observations of activity for similar companies in the current market. The Company’s market modeling utilizes, as applicable, transactions for comparable companies in similar industries that also have similar revenue and growth characteristics and preferences in their capital structure. Key significant unobservable inputs in the market technique include implied earnings before interest, taxes, depreciation and amortization (EBITDA) multiples and revenue multiples. Additionally, the fair values of certain of the Company’s venture capital securities are based on recent transactions in inactive markets for identical or similar securities. Significant changes in any of these inputs could result in significantly lower or higher fair value measurements. Throughout the procedures discussed above in relation to the Company’s processes for validating third-party pricing information, the Company validates the understanding of assumptions and inputs used in security pricing and determines the proper classification in the hierarchy based on that understanding. Other Assets. The fair values of the Company’s other assets are estimated and classified using the same methodologies as the Company’s investments in debt securities. AARP Program-Related Investments. AARP Program-related investments consist of debt securities and other investments held to fund costs associated with the AARP Program and are priced and classified using the same methodologies as the Company’s investments in debt and equity securities. Interest Rate Swaps. Fair values of the Company’s swaps are estimated using the terms of the swaps and publicly available information, including market yield curves. Because the swaps are unique and not actively traded but are valued using other observable inputs, the fair values are classified as Level 2. Long-Term Debt. The fair values of the Company’s long-term debt are estimated and classified using the same methodologies as the Company’s investments in debt securities. AARP Program-Related Other Liabilities. AARP Program-related other liabilities consist of liabilities that represent the amount of net investment gains and losses related to AARP Program-related investments that accrue to the benefit of the AARP policyholders. The following table presents a summary of fair value measurements by level and carrying values for items measured at fair value on a recurring basis in the Consolidated Balance Sheets excluding AARP Program-related assets and liabilities, which are presented in a separate table below: (in millions) Quoted Prices in Active Markets (Level 1) Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) Total Fair and Carrying Value December 31, 2015 Cash and cash equivalents $ 10,906 $ 17 $ — $ 10,923 Debt securities - available-for-sale: U.S. government and agency obligations 1,779 198 — 1,977 State and municipal obligations — 6,168 — 6,168 Corporate obligations 5 7,308 93 7,406 U.S. agency mortgage-backed securities — 2,124 — 2,124 Non-U.S. agency mortgage-backed securities — 951 5 956 Total debt securities - available-for-sale 1,784 16,749 98 18,631 Equity securities - available-for-sale 1,223 14 402 1,639 Interest rate swap assets — 93 — 93 Total assets at fair value $ 13,913 $ 16,873 $ 500 $ 31,286 Percentage of total assets at fair value 44 % 54 % 2 % 100 % Interest rate swap liabilities $ — $ 11 $ — $ 11 December 31, 2014 Cash and cash equivalents $ 7,472 $ 23 $ — $ 7,495 Debt securities - available-for-sale: U.S. government and agency obligations 1,427 193 — 1,620 State and municipal obligations — 6,668 — 6,668 Corporate obligations 2 7,257 68 7,327 U.S. agency mortgage-backed securities — 2,056 — 2,056 Non-U.S. agency mortgage-backed securities — 874 6 880 Total debt securities - available-for-sale 1,429 17,048 74 18,551 Equity securities - available-for-sale 1,200 12 310 1,522 Interest rate swap assets — 62 — 62 Total assets at fair value $ 10,101 $ 17,145 $ 384 $ 27,630 Percentage of total assets at fair value 37 % 62 % 1 % 100 % Interest rate swap liabilities $ — $ 55 $ — $ 55 The following table presents a summary of fair value measurements by level and carrying values for certain financial instruments not measured at fair value on a recurring basis in the Consolidated Balance Sheets: (in millions) Quoted Prices in Active Markets (Level 1) Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) Total Fair Value Total Carrying Value December 31, 2015 Debt securities - held-to-maturity: U.S. government and agency obligations $ 164 $ — $ — $ 164 $ 163 State and municipal obligations — — 8 8 8 Corporate obligations 91 10 238 339 339 Total debt securities - held-to-maturity $ 255 $ 10 $ 246 $ 511 $ 510 Other assets $ — $ 493 $ — $ 493 $ 500 Long-term debt and other financing obligations $ — $ 29,455 $ — $ 29,455 $ 28,107 December 31, 2014 Debt securities - held-to-maturity: U.S. government and agency obligations $ 180 $ — $ — $ 180 $ 178 State and municipal obligations — — 19 19 19 Corporate obligations 46 10 242 298 298 Total debt securities - held-to-maturity $ 226 $ 10 $ 261 $ 497 $ 495 Other assets $ — $ 478 $ — $ 478 $ 484 Long-term debt and other financing obligations $ — $ 18,863 $ — $ 18,863 $ 17,085 The carrying amounts reported on the Consolidated Balance Sheets for other current financial assets and liabilities approximate fair value because of their short-term nature. These assets and liabilities are not listed in the table above. A reconciliation of the beginning and ending balances of assets measured at fair value on a recurring basis using Level 3 inputs is as follows: December 31, 2015 December 31, 2014 December 31, 2013 (in millions) Debt Securities Equity Securities Total Debt Securities Equity Securities Total Debt Securities Equity Securities Total Balance at beginning of period $ 74 $ 310 $ 384 $ 42 $ 269 $ 311 $ 17 $ 224 $ 241 Purchases 27 106 133 32 105 137 38 71 109 Sales (4 ) (24 ) (28 ) (1 ) (180 ) (181 ) (10 ) (25 ) (35 ) Net unrealized gains (losses) in other comprehensive income 2 5 7 1 6 7 (2 ) (7 ) (9 ) Net realized (losses) gains in investment and other income (1 ) 5 4 — 110 110 (1 ) 6 5 Balance at end of period $ 98 $ 402 $ 500 $ 74 $ 310 $ 384 $ 42 $ 269 $ 311 The following table presents quantitative information regarding unobservable inputs that were significant to the valuation of assets measured at fair value on a recurring basis using Level 3 inputs: Range (in millions) Fair Value Valuation Technique Unobservable Input Low High December 31, 2015 Equity securities - available-for-sale: Venture capital portfolios $ 358 Market approach - comparable companies Revenue multiple 1.0 5.0 EBITDA multiple 9.0 10.0 44 Market approach - recent transactions Inactive market transactions N/A N/A Total equity securities available-for-sale $ 402 Also included in the Company’s assets measured at fair value on a recurring basis using Level 3 inputs were $98 million of available-for-sale debt securities as of December 31, 2015 , which were not significant. The Company elected to measure the entirety of the AARP Program assets under management at fair value pursuant to the fair value option. See Note 2 for further detail on the AARP Program. The following table presents fair value information about the AARP Program-related financial assets and liabilities: (in millions) Quoted Prices in Active Markets (Level 1) Other Observable Inputs (Level 2) Total Fair and Carrying Value December 31, 2015 Cash and cash equivalents $ 274 $ — $ 274 Debt securities: U.S. government and agency obligations 482 140 622 State and municipal obligations — 103 103 Corporate obligations — 1,244 1,244 U.S. agency mortgage-backed securities — 398 398 Non-U.S. agency mortgage-backed securities — 195 195 Total debt securities 482 2,080 2,562 Other investments 76 86 162 Total assets at fair value $ 832 $ 2,166 $ 2,998 December 31, 2014 Cash and cash equivalents $ 415 $ — $ 415 Debt securities: U.S. government and agency obligations 409 245 654 State and municipal obligations — 95 95 Corporate obligations — 1,200 1,200 U.S. agency mortgage-backed securities — 340 340 Non-U.S. agency mortgage-backed securities — 177 177 Total debt securities 409 2,057 2,466 Equity securities - available-for-sale — 81 81 Total assets at fair value $ 824 $ 2,138 $ 2,962 Other liabilities $ 5 $ 13 $ 18 |
Property, Plant, and Capitalize
Property, Plant, and Capitalized Software (Notes) | 12 Months Ended |
Dec. 31, 2015 | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment Disclosure [Text Block] | Property, Equipment and Capitalized Software A summary of property, equipment and capitalized software is as follows: (in millions) December 31, 2015 December 31, 2014 Land and improvements $ 237 $ 310 Buildings and improvements 2,420 2,295 Computer equipment 1,945 1,693 Furniture and fixtures 790 675 Less accumulated depreciation (2,163 ) (1,982 ) Property and equipment, net 3,229 2,991 Capitalized software 2,642 2,399 Less accumulated amortization (1,010 ) (972 ) Capitalized software, net 1,632 1,427 Total property, equipment and capitalized software, net $ 4,861 $ 4,418 Depreciation expense for property and equipment for 2015, 2014 and 2013 was $613 million , $532 million and $445 million , respectively. Amortization expense for capitalized software for 2015, 2014 and 2013 was $430 million , $422 million and $411 million , respectively. |
Goodwill and Intangible Assets
Goodwill and Intangible Assets (Notes) | 12 Months Ended |
Dec. 31, 2015 | |
Goodwill [Line Items] | |
Goodwill Disclosure [Text Block] | Goodwill and Other Intangible Assets Changes in the carrying amount of goodwill, by reportable segment, were as follows: (in millions) UnitedHealthcare OptumHealth OptumInsight OptumRx Consolidated Balance at January 1, 2014 $ 24,251 $ 2,860 $ 3,653 $ 840 $ 31,604 Acquisitions 266 978 591 — 1,835 Foreign currency effects and adjustments, net (487 ) (4 ) (8 ) — (499 ) Balance at December 31, 2014 24,030 3,834 4,236 840 32,940 Acquisitions 128 1,817 89 10,732 12,766 Foreign currency effects and adjustments, net (1,233 ) 9 (29 ) — (1,253 ) Balance at December 31, 2015 $ 22,925 $ 5,660 $ 4,296 $ 11,572 $ 44,453 The increase in the Company’s goodwill is primarily due to the acquisition of Catamaran. For more detail on the Catamaran acquisition, see Note 3 of the Notes to the Consolidated Financial Statements. The gross carrying value, accumulated amortization and net carrying value of other intangible assets were as follows: December 31, 2015 December 31, 2014 (in millions) Gross Carrying Value Accumulated Amortization Net Carrying Value Gross Carrying Value Accumulated Amortization Net Carrying Value Customer-related $ 10,270 $ (2,796 ) $ 7,474 $ 5,021 $ (2,399 ) $ 2,622 Trademarks and technology 682 (249 ) 433 527 (202 ) 325 Trademarks - indefinite-lived 358 — 358 539 — 539 Other 209 (83 ) 126 267 (84 ) 183 Total $ 11,519 $ (3,128 ) $ 8,391 $ 6,354 $ (2,685 ) $ 3,669 The acquisition date fair values and weighted-average useful lives assigned to finite-lived intangible assets acquired in business combinations consisted of the following by year of acquisition: 2015 2014 (in millions, except years) Fair Value Weighted-Average Useful Life Fair Value Weighted-Average Useful Life Customer-related $ 5,518 19 years $ 314 14 years Trademarks and technology 194 4 years 148 6 years Other — 2 14 years Total acquired finite-lived intangible assets $ 5,712 19 years $ 464 11 years Estimated full year amortization expense relating to intangible assets for each of the next five years ending December 31 is as follows: (in millions) 2016 $ 808 2017 772 2018 668 2019 612 2020 543 Amortization expense relating to intangible assets for December 31, 2015, 2014 and 2013 was $650 million , $524 million and $519 million , respectively. |
Medical Costs Payable (Notes)
Medical Costs Payable (Notes) | 12 Months Ended |
Dec. 31, 2015 | |
Medical Cost Development Disclosure Text Block | Medical Costs Payable The following table shows the components of the change in medical costs payable for the years ended December 31: (in millions) 2015 2014 2013 Medical costs payable, beginning of period $ 12,040 $ 11,575 $ 11,004 Reported medical costs: Current year 104,195 94,053 90,339 Prior years (320 ) (420 ) (680 ) Total reported medical costs 103,875 93,633 89,659 Claim payments: Payments for current year (90,630 ) (82,750 ) (79,358 ) Payments for prior year (10,955 ) (10,418 ) (9,730 ) Total claim payments (101,585 ) (93,168 ) (89,088 ) Medical costs payable, end of period $ 14,330 $ 12,040 $ 11,575 For the years ended December 31, 2015 and 2014, the favorable medical cost reserve development was due to a number of individual factors that were not material . The net favorable development for the year ended December 31, 2013 was primarily driven by lower than expected health system utilization levels. |
Commercial Paper and Long-Term
Commercial Paper and Long-Term Debt (Notes) | 12 Months Ended |
Dec. 31, 2015 | |
Debt Disclosure [Abstract] | |
Commercial Paper and Long-Term Debt [Text Block] | Commercial Paper and Long-Term Debt Commercial paper, term loan and senior unsecured long-term debt consisted of the following: December 31, 2015 December 31, 2014 (in millions, except percentages) Par Value Carrying Value Fair Value Par Value Carrying Value Fair Value Commercial paper $ 3,987 $ 3,987 $ 3,987 $ 321 $ 321 $ 321 Floating rate term loan due July 2016 (c) 1,500 1,500 1,500 — — — 4.875% notes due March 2015 (a) — — — 416 419 419 0.850% notes due October 2015 (a), (b) — — — 625 625 627 5.375% notes due March 2016 (a), (b) 601 605 606 601 623 634 1.875% notes due November 2016 (a), (b) 400 400 403 400 397 406 5.360% notes due November 2016 95 95 98 95 95 103 Floating rate notes due January 2017 (c) 750 750 751 — — — 6.000% notes due June 2017 (a), (b) 441 458 469 441 466 489 1.450% notes due July 2017 (c) 750 750 750 — — — 1.400% notes due October 2017 (a), (b) 625 625 624 625 616 624 6.000% notes due November 2017 (a), (b) 156 163 168 156 164 175 1.400% notes due December 2017 (a), (b) 750 753 748 750 745 749 6.000% notes due February 2018 (a), (b) 1,100 1,115 1,196 1,100 1,106 1,238 1.900% notes due July 2018 (c) 1,500 1,498 1,505 — — — 1.625% notes due March 2019 (a), (b) 500 503 494 500 496 493 2.300% notes due December 2019 (a) 500 501 502 500 496 502 2.700% notes due July 2020 (c) 1,500 1,499 1,516 — — — 3.875% notes due October 2020 (a) 450 454 476 450 450 477 4.700% notes due February 2021 (a) 400 414 438 400 413 450 3.375% notes due November 2021 (a) 500 501 517 500 496 519 2.875% notes due December 2021 (a) 750 756 760 750 748 759 2.875% notes due March 2022 (a) 1,100 1,061 1,099 1,100 1,042 1,104 3.350% notes due July 2022 (c) 1,000 999 1,023 — — — 0.000% notes due November 2022 15 10 11 15 10 11 2.750% notes due February 2023 (a) 625 614 613 625 604 613 2.875% notes due March 2023 (a) 750 784 742 750 777 745 3.750% notes due July 2025 (c) 2,000 1,995 2,062 — — — 4.625% notes due July 2035 (c) 1,000 1,000 1,038 — — — 5.800% notes due March 2036 850 845 1,003 850 845 1,052 6.500% notes due June 2037 500 495 628 500 495 670 6.625% notes due November 2037 650 646 829 650 646 888 6.875% notes due February 2038 1,100 1,085 1,439 1,100 1,085 1,544 5.700% notes due October 2040 300 298 348 300 298 378 5.950% notes due February 2041 350 348 416 350 348 455 4.625% notes due November 2041 600 593 609 600 593 646 4.375% notes due March 2042 502 486 493 502 486 536 3.950% notes due October 2042 625 612 582 625 611 621 4.250% notes due March 2043 750 740 728 750 740 786 4.750% notes due July 2045 (c) 2,000 1,992 2,107 — — — Total commercial paper, term loan and long-term debt $ 31,972 $ 31,930 $ 33,278 $ 17,347 $ 17,256 $ 19,034 (a) Fixed-rate debt instruments hedged with interest rate swap contracts. See below for more information on the Company’s interest rate swaps. (b) The Company terminated the interest rate swap contracts on these hedged instruments during the year ended December 31, 2015. See below for more information on this termination. (c) Debt issued to fund the Catamaran acquisition. For more detail on Catamaran, see Note 3 of Notes to the Consolidated Financial Statements. The Company’s long-term debt obligations also included $164 million and $150 million of other financing obligations, of which $47 million and $34 million were current as of 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 $ 6,630 2017 3,491 2018 2,607 2019 1,024 2020 1,952 Thereafter 16,432 Commercial Paper and Revolving Bank Credit Facilities Commercial paper consists of short-duration, senior unsecured debt privately placed on a discount basis through broker-dealers. As of December 31, 2015 , the Company’s outstanding commercial paper had a weighted-average annual interest rate of 0.7% . The Company has $3.0 billion five-year, $2.0 billion three-year and $1.0 billion 364-day revolving bank credit facilities with 23 banks, which mature in December 2020 , December 2018 , and November 2016 , respectively. These facilities provide liquidity support for the Company’s commercial paper program and are available for general corporate purposes. As of December 31, 2015 , no amounts had been drawn on any of the bank credit facilities. The annual interest rates, which are variable based on term, are calculated based on the London Interbank Offered Rate (LIBOR) plus a credit spread based on the Company’s senior unsecured credit ratings. If amounts had been drawn on the bank credit facilities as of December 31, 2015 , annual interest rates would have ranged from 1.2% to 1.7% . Debt Covenants The Company’s bank credit facilities contain various covenants, including requiring the Company to maintain a debt to debt-plus-stockholders’ equity ratio of not more than 55% . The Company was in compliance with its debt covenants as of December 31, 2015 . Interest Rate Swap Contracts The Company uses interest rate swap contracts to convert a portion of its interest rate exposure from fixed rates to floating rates to more closely align interest expense with interest income received on its variable rate financial assets. The floating rates are benchmarked to LIBOR. The swaps are designated as fair value hedges on the Company’s fixed-rate debt. Since the critical terms of the swaps match those of the debt being hedged, they are considered to be highly effective hedges and all changes in the fair values of the swaps are recorded as adjustments to the carrying value of the related debt with no net impact recorded on the Consolidated Statements of Operations. Both the hedge fair value changes and the offsetting debt adjustments are recorded in interest expense on the Consolidated Statements of Operations. The following table summarizes the location and fair value of the interest rate swap fair value hedges on the Company’s Consolidated Balance Sheet: Type of Fair Value Hedge Notional Amount Fair Value Balance Sheet Location (in billions) (in millions) December 31, 2015 Interest rate swap contracts $ 5.1 $ 93 Other assets 11 Other liabilities December 31, 2014 Interest rate swap contracts $ 10.7 $ 62 Other assets 55 Other liabilities During 2015, the Company terminated $5.2 billion notional amount of its interest rate swap fair value hedges. The resulting gain was not material. The following table provides a summary of the effect of changes in fair value of fair value hedges on the Company’s Consolidated Statements of Operations: For the Years Ended December 31, (in millions) 2015 2014 2013 Hedge - interest rate swap gain (loss) recognized in interest expense $ 75 $ 170 $ (166 ) Hedged item - long-term debt (loss) gain recognized in interest expense (75 ) (170 ) 166 Net impact on the Company’s Consolidated Statements of Operations $ — $ — $ — |
Income Taxes (Notes)
Income Taxes (Notes) | 12 Months Ended |
Dec. 31, 2015 | |
Income Tax Examination [Line Items] | |
Income Tax Disclosure [Text Block] | Income Taxes The current income tax provision reflects the tax consequences of revenues and expenses currently taxable or deductible on various income tax returns for the year reported. The deferred income tax provision or benefit generally reflects the net change in deferred income tax assets and liabilities during the year, excluding any deferred income tax assets and liabilities of acquired businesses. The components of the provision for income taxes for the years ended December 31 are as follows: (in millions) 2015 2014 2013 Current Provision: Federal $ 4,155 $ 3,883 $ 3,004 State and local 281 271 237 Total current provision 4,436 4,154 3,241 Deferred (benefit) provision (73 ) (117 ) 1 Total provision for income taxes $ 4,363 $ 4,037 $ 3,242 The reconciliation of the tax provision at the U.S. federal statutory rate to the provision for income taxes and the effective tax rate for the years ended December 31 is as follows: (in millions, except percentages) 2015 2014 2013 Tax provision at the U.S. federal statutory rate $ 3,581 35.0 % $ 3,380 35.0 % $ 3,120 35.0 % Health insurance industry tax 627 6.1 469 4.8 — — State income taxes, net of federal benefit 145 1.4 154 1.6 126 1.4 Tax-exempt investment income (44 ) (0.4 ) (49 ) (0.5 ) (53 ) (0.6 ) Non-deductible compensation 103 1.0 96 1.0 39 0.5 Other, net (49 ) (0.5 ) (13 ) (0.1 ) 10 0.1 Provision for income taxes $ 4,363 42.6 % $ 4,037 41.8 % $ 3,242 36.4 % The higher tax rates for 2015 and 2014 were primarily due to the increase in the nondeductible Health Insurance Industry Tax. Deferred income tax assets and liabilities are recognized for the differences between the financial and income tax reporting bases of assets and liabilities based on enacted tax rates and laws. The components of deferred income tax assets and liabilities as of December 31 are as follows: (in millions) 2015 2014 Deferred income tax assets: Accrued expenses and allowances $ 739 $ 313 U.S. federal and state net operating loss carryforwards 139 172 Share-based compensation 124 141 Nondeductible liabilities 205 222 Medical costs payable and other policy liabilities 71 120 Non-U.S. tax loss carryforwards 244 257 Unearned revenues 94 90 Unrecognized tax benefits 69 38 Other-domestic 51 36 Other-non-U.S. 130 141 Subtotal 1,866 1,530 Less: valuation allowances (44 ) (119 ) Total deferred income tax assets 1,822 1,411 Deferred income tax liabilities: U.S. federal and state intangible assets (2,951 ) (1,275 ) Non-U.S. goodwill and intangible assets (397 ) (496 ) Capitalized software (574 ) (506 ) Net unrealized gains on investments (34 ) (129 ) Depreciation and amortization (312 ) (272 ) Prepaid expenses (205 ) (140 ) Other-non-U.S. (76 ) (102 ) Total deferred income tax liabilities (4,549 ) (2,920 ) Net deferred income tax liabilities $ (2,727 ) $ (1,509 ) Valuation allowances are provided when it is considered more likely than not that deferred tax assets will not be realized. The valuation allowances primarily relate to future tax benefits on certain federal, state and non-U.S. net operating loss carryforwards. Federal net operating loss carryforwards of $122 million expire beginning in 2021 through 2035; state net operating loss carryforwards expire beginning in 2016 through 2035. Substantially all of the non-U.S. tax loss carryforwards have indefinite carryforward periods. As of December 31, 2015, the Company had $459 million of undistributed earnings from non-U.S. subsidiaries that are intended to be reinvested in non-U.S. operations. Because these earnings are considered permanently reinvested, no U.S. tax provision has been accrued related to the repatriation of these earnings. It is not practicable to estimate the amount of U.S. tax that might be payable on the eventual remittance of such earnings. A reconciliation of the beginning and ending amount of unrecognized tax benefits as of December 31 is as follows: (in millions) 2015 2014 2013 Gross unrecognized tax benefits, beginning of period $ 92 $ 89 $ 81 Gross increases: Current year tax positions — — 8 Prior year tax positions 55 4 5 Acquired reserves 89 — — Gross decreases: Prior year tax positions (2 ) — — Settlements (1 ) — — Statute of limitations lapses (9 ) (1 ) (5 ) Gross unrecognized tax benefits, end of period $ 224 $ 92 $ 89 The Company believes it is reasonably possible that its liability for unrecognized tax benefits will decrease in the next twelve months by $137 million as a result of audit settlements and the expiration of statutes of limitations in certain major jurisdictions. The Company classifies interest and penalties associated with uncertain income tax positions as income taxes within its Consolidated Statement of Operations. During 2015, 2014, and 2013, the Company recognized $11 million , $6 million and $4 million of interest and penalties, respectively. The Company had $59 million and $33 million of accrued interest and penalties for uncertain tax positions as of December 31, 2015 and 2014, respectively. These amounts are not included in the reconciliation above. The Company currently files income tax returns in the United States, various states and non-U.S. jurisdictions. The U.S. Internal Revenue Service (IRS) has completed exams on the consolidated income tax returns for fiscal years 2014 and prior. The Company’s 2015 tax year is under advance review by the IRS under its Compliance Assurance Program. With the exception of a few states, the Company is no longer subject to income tax examinations prior to the 2008 tax year. The Brazilian federal revenue service - Secretaria da Receita Federal (SRF) may audit the Company’s Brazilian subsidiaries for a period of five years from the date on which corporate income taxes should have been paid and/or the date when the tax return was filed. |
Stockholders' Equity (Notes)
Stockholders' Equity (Notes) | 12 Months Ended |
Dec. 31, 2015 | |
Shareholders' Equity [Abstract] | |
Stockholders' Equity Note Disclosure [Text Block] | Stockholders' Equity Regulatory Capital and Dividend Restrictions The Company’s regulated subsidiaries are subject to regulations and standards in their respective jurisdictions. These standards, among other things, require these subsidiaries to maintain specified levels of statutory capital, as defined by each jurisdiction, and restrict the timing and amount of dividends and other distributions that may be paid to their parent companies. In the United States, most of these regulations and standards are generally consistent with model regulations established by the National Association of Insurance Commissioners. These standards generally permit dividends to be paid from statutory unassigned surplus of the regulated subsidiary and are limited based on the regulated subsidiary’s level of statutory net income and statutory capital and surplus. These dividends are referred to as “ordinary dividends” and generally can be paid without prior regulatory approval. If the dividend, together with other dividends paid within the preceding twelve months, exceeds a specified statutory limit or is paid from sources other than earned surplus, it is generally considered an “extraordinary dividend” and must receive prior regulatory approval. For the year ended December 31, 2015, the Company’s regulated subsidiaries paid their parent companies dividends of $4.4 billion , including $1.5 billion of extraordinary dividends. For the year ended December 31, 2014, the Company’s regulated subsidiaries paid their parent companies dividends of $4.6 billion , including $1.5 billion of extraordinary dividends. As of December 31, 2015, $286 million of the Company’s $10.9 billion of cash and cash equivalents was available for general corporate use. The Company's regulated subsidiaries had estimated aggregate statutory capital and surplus of approximately $15.3 billion as of December 31, 2015. The estimated statutory capital and surplus necessary to satisfy regulatory requirements of the Company's regulated subsidiaries was approximately $8.6 billion as of December 31, 2015. Optum Bank must meet minimum requirements for Tier 1 leverage capital, Tier 1 risk-based capital and total risk-based capital of the Federal Deposit Insurance Corporation (FDIC) to be considered “Well Capitalized” under the capital adequacy rules to which it is subject. At December 31, 2015, the Company believes that Optum Bank met the FDIC requirements to be considered “Well Capitalized.” Share Repurchase Program Under its Board of Directors’ authorization, the Company maintains a share repurchase program. The objectives of the share repurchase program are to optimize the Company’s capital structure and cost of capital, thereby improving returns to stockholders, as well as to offset the dilutive impact of share-based awards. Repurchases may be made from time to time in open market purchases or other types of transactions (including prepaid or structured share repurchase programs), subject to certain Board restrictions. In June 2014, the Board renewed the Company’s share repurchase program with an authorization to repurchase up to 100 million shares of its common stock. During 2015, the Company repurchased 10.7 million shares at an average price of $112.45 per share and an aggregate cost of $1.2 billion . As of December 31, 2015, the Company had Board authorization to purchase up to 61 million shares of its common stock. Dividends In June 2015, the Company’s Board of Directors increased the Company’s quarterly cash dividend to stockholders to equal an annual dividend rate of $2.00 per share compared to the annual dividend rate of $1.50 per share, which the Company had paid since June 2014. Declaration and payment of future quarterly dividends is at the discretion of the Board and may be adjusted as business needs or market conditions change. The following table provides details of the Company’s dividend payments: Payment Date Amount per Share Total Amount Paid (in millions) 2015 $ 1.8750 $ 1,786 2014 1.4050 1,362 2013 1.0525 1,056 |
Share-Based Compensation (Notes
Share-Based Compensation (Notes) | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | Share-Based Compensation In June 2015, the Company’s stockholders approved an amendment to the 2011 Stock Incentive Plan (Plan). The approved amendment increased the number of shares authorized for issuance under the Plan by 70 million and removed certain limits in the Plan. The Company’s outstanding share-based awards consist mainly of non-qualified stock options, SARs and restricted shares. As of December 31, 2015 , the Company had 85 million shares available for future grants of share-based awards under the Plan. As of December 31, 2015 , there were also 12 million shares of common stock available for issuance under the ESPP. Stock Options and SARs Stock option and SAR activity for the year ended December 31, 2015 is summarized in the table below: Shares Weighted- Average Exercise Price Weighted- Average Remaining Contractual Life Aggregate Intrinsic Value (in millions) (in years) (in millions) Outstanding at beginning of period 33 $ 53 Granted 9 110 Exercised (7 ) 53 Forfeited (1 ) 80 Outstanding at end of period 34 68 6.0 $ 1,666 Exercisable at end of period 16 47 3.4 1,133 Vested and expected to vest, end of period 33 67 5.9 1,646 Restricted Shares Restricted share activity for the year ended December 31, 2015 is summarized in the table below: (shares in millions) Shares Weighted-Average Grant Date Fair Value per Share Nonvested at beginning of period 9 $ 61 Granted 3 110 Vested (5 ) 62 Nonvested at end of period 7 82 Other Share-Based Compensation Data (in millions, except per share amounts) For the Years Ended December 31, 2015 2014 2013 Stock Options and SARs Weighted-average grant date fair value of shares granted, per share $ 22 $ 22 $ 19 Total intrinsic value of stock options and SARs exercised 482 526 592 Restricted Shares Weighted-average grant date fair value of shares granted, per share 110 71 58 Total fair value of restricted shares vested $ 460 $ 437 $ 31 Employee Stock Purchase Plan Number of shares purchased 2 2 3 Share-Based Compensation Items Share-based compensation expense, before tax $ 406 $ 364 $ 331 Share-based compensation expense, net of tax effects 348 314 239 Income tax benefit realized from share-based award exercises 247 231 206 (in millions, except years) December 31, 2015 Unrecognized compensation expense related to share awards $ 469 Weighted-average years to recognize compensation expense 1.3 Share-Based Compensation Recognition and Estimates The principal assumptions the Company used in calculating grant-date fair value for stock options and SARs were as follows: For the Years Ended December 31, 2015 2014 2013 Risk-free interest rate 1.6% - 1.7% 1.7% - 1.8% 1.0% - 1.6% Expected volatility 22.3% - 24.1% 24.1% - 39.6% 41.0% - 43.0% Expected dividend yield 1.4% - 1.7% 1.6% - 1.9% 1.4% - 1.6% Forfeiture rate 5.0% 5.0% 5.0% Expected life in years 5.5 - 6.1 5.4 5.3 Risk-free interest rates are based on U.S. Treasury yields in effect at the time of grant. Expected volatilities are based on the historical volatility of the Company’s common stock and the implied volatility from exchange-traded options on the Company’s common stock. Expected dividend yields are based on the per share cash dividend paid by the Company. The Company uses historical data to estimate option and SAR exercises and forfeitures within the valuation model. The expected lives of options and SARs granted represents the period of time that the awards granted are expected to be outstanding based on historical exercise patterns. Other Employee Benefit Plans The Company also offers a 401(k) plan for its employees. Compensation expense related to this plan was not material for 2015, 2014 and 2013. In addition, the Company maintains non-qualified, unfunded deferred compensation plans, which allow certain members of senior management and executives to defer portions of their salary or bonus and receive certain Company contributions on such deferrals, subject to plan limitations. The deferrals are recorded within long-term investments with an approximately equal amount in other liabilities in the Consolidated Balance Sheets. The total deferrals are distributable based upon termination of employment or other periods, as elected under each plan and were $553 million and $496 million as of December 31, 2015 and 2014 , respectively. |
Commitments and Contingencies (
Commitments and Contingencies (Notes) | 12 Months Ended |
Dec. 31, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies Disclosure [Text Block] | Commitments and Contingencies The Company leases facilities and equipment under long-term operating leases that are non-cancelable and expire on various dates. Rent expense under all operating leases for 2015, 2014 and 2013 was $555 million , $449 million and $438 million , respectively. As of December 31, 2015, future minimum annual lease payments, net of sublease income, under all non-cancelable operating leases were as follows: (in millions) Future Minimum Lease Payments 2016 $ 417 2017 370 2018 325 2019 267 2020 230 Thereafter 471 The Company provides guarantees related to its service level under certain contracts. If minimum standards are not met, the Company may be financially at risk up to a stated percentage of the contracted fee or a stated dollar amount. None of the amounts accrued, paid or charged to income for service level guarantees were material as of December 31, 2015, 2014 and 2013. As of December 31, 2015, the Company had outstanding, undrawn letters of credit with financial institutions of $30 million and surety bonds outstanding with insurance companies of $1.1 billion , primarily to bond contractual performance. Legal Matters Because of the nature of its businesses, the Company is frequently made party to a variety of legal actions and regulatory inquiries, including class actions and suits brought by members, care providers, consumer advocacy organizations, customers and regulators, relating to the Company’s businesses, including management and administration of health benefit plans and other services. These matters include medical malpractice, employment, intellectual property, antitrust, privacy and contract claims and claims related to health care benefits coverage and other business practices. The Company records liabilities for its estimates of probable costs resulting from these matters where appropriate. Estimates of costs resulting from legal and regulatory matters involving the Company are inherently difficult to predict, particularly where the matters: involve indeterminate claims for monetary damages or may involve fines, penalties or punitive damages; present novel legal theories or represent a shift in regulatory policy; involve a large number of claimants or regulatory bodies; are in the early stages of the proceedings; or could result in a change in business practices. Accordingly, the Company is often unable to estimate the losses or ranges of losses for those matters where there is a reasonable possibility or it is probable that a loss may be incurred. Litigation Matters California Claims Processing Matter. On January 25, 2008, the California Department of Insurance (CDI) issued an Order to Show Cause to PacifiCare Life and Health Insurance Company, a subsidiary of the Company, alleging violations of certain insurance statutes and regulations related to an alleged failure to include certain language in standard claims correspondence, timeliness and accuracy of claims processing, interest payments, care provider contract implementation, care provider dispute resolution and other related matters. Although the Company believes that CDI had never before issued a fine in excess of $8 million , CDI advocated a fine of approximately $325 million in this matter. The matter was the subject of an administrative hearing before a California administrative law judge beginning in December 2009, and in August 2013, the administrative law judge issued a nonbinding proposed decision recommending a fine of $11.5 million . The California Insurance Commissioner rejected the administrative law judge’s recommendation and on June 9, 2014, issued his own decision imposing a fine of approximately $174 million . On July 10, 2014, the Company filed a lawsuit in California state court challenging the Commissioner’s decision. On September 8, 2015, in the first phase of that lawsuit, the California state court issued an order invalidating certain of the regulations the Commissioner had relied upon in issuing his decision and penalty. The Company cannot reasonably estimate the range of loss, if any, that may result from this matter given the procedural status of the dispute, the wide range of possible outcomes, the legal issues presented (including the legal basis for the majority of the alleged violations), the inherent difficulty in predicting a regulatory fine in the event of a remand, and the various remedies and levels of judicial review that remain available to the Company. Government Investigations, Audits and Reviews The Company has been involved or is currently involved in various governmental investigations, audits and reviews. These include routine, regular and special investigations, audits and reviews by CMS, state insurance and health and welfare departments, the Brazilian national regulatory agency for private health insurance and plans (the Agência Nacional de Saúde Suplementar), state attorneys general, the Office of the Inspector General, the Office of Personnel Management, the Office of Civil Rights, the Government Accountability Office, the Federal Trade Commission, U.S. Congressional committees, the U.S. Department of Justice, the SEC, the Internal Revenue Service, the U.S. Drug Enforcement Administration, the Brazilian federal revenue service (the Secretaria da Receita Federal), the U.S. Department of Labor, the Federal Deposit Insurance Corporation, the Defense Contract Audit Agency and other governmental authorities. Certain of the Company’s businesses have been reviewed or are currently under review, including for, among other things, compliance with coding and other requirements under the Medicare risk-adjustment model. The Company has produced documents, information and witnesses to the Department of Justice in cooperation with a current review of the Company’s risk-adjustment processes, including the Company’s patient chart review and related programs. CMS has selected certain of our local plans for risk adjustment data validation (RADV) audits to validate the coding practices of and supporting documentation maintained by health care providers and such audits may result in retrospective adjustments to payments made to our health plans. The Company cannot reasonably estimate the range of loss, if any, that may result from any material government investigations, audits and reviews in which it is currently involved given the status of the reviews, the wide range of possible outcomes and inherent difficulty in predicting regulatory action, fines and penalties, if any, the Company’s legal and factual defenses and the various remedies and levels of judicial review available to the Company in the event of an adverse finding. Guaranty Fund Assessments Under state guaranty association laws, certain insurance companies can be assessed (up to prescribed limits) for certain obligations to the policyholders and claimants of impaired or insolvent insurance companies (including state health insurance cooperatives) that write the same line or similar lines of business. In 2009, the Pennsylvania Insurance Commissioner placed long term care insurer Penn Treaty Network America Insurance Company and its subsidiary (Penn Treaty), neither of which is affiliated with the Company, in rehabilitation and petitioned a state court for approval to liquidate Penn Treaty. In 2012, the court denied the liquidation petition and ordered the Insurance Commissioner to submit a rehabilitation plan. The court held a hearing in July 2015 to begin its consideration of the latest proposed rehabilitation plan. The hearing is scheduled to continue in the spring of 2016. If the current proposed rehabilitation plan, which contemplates the partial liquidation of Penn Treaty, is approved by the court, the Company’s insurance entities and other insurers may be required to pay a portion of Penn Treaty’s policyholder claims through state guaranty association assessments. The Company continues to vigorously challenge the proposed rehabilitation plan. The Company is currently unable to estimate losses or ranges of losses because the Company cannot predict when or to what extent Penn Treaty will ultimately be liquidated, the amount of the insolvency, the amount and timing of any associated guaranty fund assessments or the availability and amount of any premium tax and other potential offsets. |
Segment Financial Information (
Segment Financial Information (Notes) | 12 Months Ended |
Dec. 31, 2015 | |
Segment Reporting [Abstract] | |
Segment Financial Information [Text Block] | Segment Financial Information Factors used to determine the Company’s reportable segments include the nature of operating activities, economic characteristics, existence of separate senior management teams and the type of information used by the Company’s chief operating decision maker to evaluate its results of operations. Reportable segments with similar economic characteristics, products and services, customers, distribution methods and operational processes that operate in a similar regulatory environment are combined. The following is a description of the types of products and services from which each of the Company’s four reportable segments derives its revenues: • UnitedHealthcare includes the combined results of operations of UnitedHealthcare Employer & Individual, UnitedHealthcare Medicare & Retirement, UnitedHealthcare Community & State and UnitedHealthcare Global. The U.S. businesses share significant common assets, including a contracted network of physicians, health care professionals, hospitals and other facilities, information technology infrastructure and other resources. UnitedHealthcare Employer & Individual offers an array of consumer-oriented health benefit plans and services for large national employers, public sector employers, mid-sized employers, small businesses and individuals nationwide and active and retired military and their families through the TRICARE program. UnitedHealthcare Medicare & Retirement provides health care coverage and health and well-being services to individuals age 50 and older, addressing their unique needs for preventive and acute health care services as well as services dealing with chronic disease and other specialized issues for older individuals. UnitedHealthcare Community & State’s primary customers oversee Medicaid plans, the Children’s Health Insurance Program and other federal, state and community health care programs. UnitedHealthcare Global is a diversified global health services business with a variety of offerings, including international commercial health and dental benefits. • OptumHealth serves the physical, emotional and financial needs of individuals, enabling population health management and local care delivery through programs offered by employers, payers, government entities and directly with the care delivery system. OptumHealth offers access to networks of care provider specialists, health management services, care delivery, consumer engagement and relationship management and sales distribution platform services and financial services. • OptumInsight is a health care information, technology, operational services and consulting company providing software and information products, advisory consulting services and business process outsourcing services and support to participants in the health care industry. Hospitals, physicians, commercial health plans, government agencies, life sciences companies and other organizations that comprise the health care system use OptumInsight to reduce costs, meet compliance mandates, improve clinical performance and adapt to the changing health system landscape. • OptumRx offers pharmacy care services and programs, including retail pharmacy network management services, home delivery and specialty pharmacy services, manufacturer rebate contracting and administration, benefit plan design and consultation, claims processing and a variety of clinical programs such as formulary management and compliance, drug utilization review and disease and drug therapy management services. The Company’s accounting policies for reportable segment operations are consistent with those described in the Summary of Significant Accounting Policies (see Note 2). Transactions between reportable segments principally consist of sales of pharmacy benefit products and services to UnitedHealthcare customers by OptumRx, certain product offerings and care management and local care delivery services sold to UnitedHealthcare by OptumHealth, and health information and technology solutions, consulting and other services sold to UnitedHealthcare by OptumInsight. These transactions are recorded at management’s estimate of fair value. Intersegment transactions are eliminated in consolidation. Assets and liabilities that are jointly used are assigned to each reportable segment using estimates of pro-rata usage. Cash and investments are assigned such that each reportable segment has working capital and/or at least minimum specified levels of regulatory capital. As a percentage of the Company’s total consolidated revenues, premium revenues from CMS were 26% for 2015, and 29% for both 2014 and 2013, most of which were generated by UnitedHealthcare Medicare & Retirement and included in the UnitedHealthcare segment. U.S. customer revenue represented approximately 96% , 95% and 95% of consolidated total revenues for 2015, 2014 and 2013, respectively. Long-lived fixed assets located in the United States represented approximately 81% and 73% of the total long-lived fixed assets as of December 31, 2015 and 2014, respectively. The non-U.S. revenues and fixed assets are primarily related to UnitedHealthcare Global. The following table presents the reportable segment financial information: Optum (in millions) UnitedHealthcare OptumHealth OptumInsight OptumRx Optum Eliminations Optum Corporate and Eliminations Consolidated 2015 Revenues - external customers: Premiums $ 124,011 $ 3,152 $ — $ — $ — $ 3,152 $ — $ 127,163 Products 2 31 108 17,171 — 17,310 — 17,312 Services 6,776 2,375 2,390 381 — 5,146 — 11,922 Total revenues - external customers 130,789 5,558 2,498 17,552 — 25,608 — 156,397 Total revenues - intersegment — 8,216 3,697 30,718 (791 ) 41,840 (41,840 ) — Investment and other income 554 153 1 2 — 156 — 710 Total revenues $ 131,343 $ 13,927 $ 6,196 $ 48,272 $ (791 ) $ 67,604 $ (41,840 ) $ 157,107 Earnings from operations $ 6,754 $ 1,240 $ 1,278 $ 1,749 $ — $ 4,267 $ — $ 11,021 Interest expense — — — — — — (790 ) (790 ) Earnings before income taxes $ 6,754 $ 1,240 $ 1,278 $ 1,749 $ — $ 4,267 $ (790 ) $ 10,231 Total assets $ 64,212 $ 14,600 $ 8,335 $ 26,844 $ — $ 49,779 $ (2,608 ) $ 111,383 Purchases of property, equipment and capitalized software 653 252 572 79 — 903 — 1,556 Depreciation and amortization 718 251 492 232 — 975 — 1,693 2014 Revenues - external customers: Premiums $ 112,645 $ 2,657 $ — $ — $ — $ 2,657 $ — $ 115,302 Products 3 18 96 4,125 — 4,239 — 4,242 Services 6,516 1,300 2,224 111 — 3,635 — 10,151 Total revenues - external customers 119,164 3,975 2,320 4,236 — 10,531 — 129,695 Total revenues - intersegment — 6,913 2,906 27,740 (489 ) 37,070 (37,070 ) — Investment and other income 634 144 1 — — 145 — 779 Total revenues $ 119,798 $ 11,032 $ 5,227 $ 31,976 $ (489 ) $ 47,746 $ (37,070 ) $ 130,474 Earnings from operations $ 6,992 $ 1,090 $ 1,002 $ 1,190 $ — $ 3,282 $ — $ 10,274 Interest expense — — — — — — (618 ) (618 ) Earnings before income taxes $ 6,992 $ 1,090 $ 1,002 $ 1,190 $ — $ 3,282 $ (618 ) $ 9,656 Total assets $ 62,405 $ 11,148 $ 8,112 $ 5,474 $ — $ 24,734 $ (757 ) $ 86,382 Purchases of property, equipment and capitalized software 773 212 484 56 — 752 — 1,525 Depreciation and amortization 772 179 433 94 — 706 — 1,478 2013 Revenues - external customers: Premiums $ 107,024 $ 2,533 $ — $ — $ — $ 2,533 $ — $ 109,557 Products 8 19 92 3,071 — 3,182 — 3,190 Services 6,076 819 2,006 96 — 2,921 — 8,997 Total revenues - external customers 113,108 3,371 2,098 3,167 — 8,636 — 121,744 Total revenues - intersegment — 6,357 2,615 20,839 (458 ) 29,353 (29,353 ) — Investment and other income 617 127 1 — — 128 — 745 Total revenues $ 113,725 $ 9,855 $ 4,714 $ 24,006 $ (458 ) $ 38,117 $ (29,353 ) $ 122,489 Earnings from operations $ 7,132 $ 949 $ 831 $ 711 $ — $ 2,491 $ — $ 9,623 Interest expense — — — — — — (708 ) (708 ) Earnings before income taxes $ 7,132 $ 949 $ 831 $ 711 $ — $ 2,491 $ (708 ) $ 8,915 Total assets $ 61,942 $ 9,244 $ 6,880 $ 4,483 $ — $ 20,607 $ (667 ) $ 81,882 Purchases of property, equipment and capitalized software 670 185 363 89 — 637 — 1,307 Depreciation and amortization 766 158 359 92 — 609 — 1,375 |
Quarterly Financial Data (Unaud
Quarterly Financial Data (Unaudited) (Notes) | 12 Months Ended |
Dec. 31, 2015 | |
Quarterly Financial Information [Text Block] | Quarterly Financial Data (Unaudited) Selected quarterly financial information for all quarters of 2015 and 2014 is as follows: For the Quarter Ended (in millions, except per share data) March 31 June 30 September 30 December 31 2015 Revenues $ 35,756 $ 36,263 $ 41,489 $ 43,599 Operating costs 33,116 33,368 38,471 41,131 Earnings from operations 2,640 2,895 3,018 2,468 Net earnings 1,413 1,585 1,618 1,252 Net earnings attributable to UnitedHealth Group common stockholders 1,413 1,585 1,597 1,218 Net earnings per share attributable to UnitedHealth Group common stockholders: Basic 1.48 1.66 1.68 1.28 Diluted 1.46 1.64 1.65 1.26 2014 Revenues $ 31,708 $ 32,574 $ 32,759 $ 33,433 Operating costs 29,654 30,022 29,856 30,668 Earnings from operations 2,054 2,552 2,903 2,765 Net earnings 1,099 1,408 1,602 1,510 Net earnings attributable to UnitedHealth Group common stockholders 1,099 1,408 1,602 1,510 Net earnings per share attributable to UnitedHealth Group common stockholders: Basic 1.12 1.44 1.65 1.58 Diluted 1.10 1.42 1.63 1.55 |
Schedule I (Notes)
Schedule I (Notes) | 12 Months Ended |
Dec. 31, 2015 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | Schedule I Condensed Financial Information of Registrant (Parent Company Only) UnitedHealth Group Condensed Balance Sheets (in millions, except per share data) December 31, December 31, Assets Current assets: Cash and cash equivalents $ 29 $ 559 Short-term notes receivable from subsidiaries — 27 Deferred income taxes and other current assets 313 271 Total current assets 342 857 Equity in net assets of subsidiaries 56,316 44,643 Long-term notes receivable from subsidiaries 9,679 4,635 Other assets 328 278 Total assets $ 66,665 $ 50,413 Liabilities and stockholders’ equity Current liabilities: Accounts payable and accrued liabilities $ 449 $ 332 Note payable to subsidiary 310 215 Commercial paper and current maturities of long-term debt 6,587 1,365 Total current liabilities 7,346 1,912 Long-term debt, less current maturities 25,344 15,891 Deferred income taxes and other liabilities 145 156 Total liabilities 32,835 17,959 Commitments and contingencies (Note 5) Stockholders’ equity: Preferred stock, $0.001 par value -10 shares authorized; no shares issued or outstanding — — Common stock, $0.01 par value - 3,000 shares authorized; 953 and 954 issued and outstanding 10 10 Additional paid-in capital 29 — Retained earnings 37,125 33,836 Accumulated other comprehensive loss (3,334 ) (1,392 ) Total UnitedHealth Group stockholders’ equity 33,830 32,454 Total liabilities and stockholders’ equity $ 66,665 $ 50,413 See Notes to the Condensed Financial Statements of Registrant Schedule I Condensed Financial Information of Registrant (Parent Company Only) UnitedHealth Group Condensed Statements of Comprehensive Income For the Years Ended December 31, (in millions) 2015 2014 2013 Revenues: Investment and other income $ 396 $ 293 $ 252 Total revenues 396 293 252 Operating costs: Operating costs (17 ) 1 (9 ) Interest expense 717 554 618 Total operating costs 700 555 609 Loss before income taxes (304 ) (262 ) (357 ) Benefit for income taxes 111 96 130 Loss of parent company (193 ) (166 ) (227 ) Equity in undistributed income of subsidiaries 6,006 5,785 5,852 Net earnings 5,813 5,619 5,625 Other comprehensive loss (1,942 ) (484 ) (1,346 ) Comprehensive income $ 3,871 $ 5,135 $ 4,279 See Notes to the Condensed Financial Statements of Registrant Schedule I Condensed Financial Information of Registrant (Parent Company Only) UnitedHealth Group Condensed Statements of Cash Flows For the Years Ended December 31, (in millions) 2015 2014 2013 Operating activities Cash flows from operating activities $ 1,727 $ 7,445 $ 5,099 Investing activities Issuance of notes to subsidiaries (5,064 ) (436 ) (1,517 ) Cash paid for acquisitions (12,270 ) (1,852 ) (274 ) Return of capital to parent company 4,375 — — Capital contributions to subsidiaries (1,109 ) (704 ) (942 ) Other, net 140 (9 ) 275 Cash flows used for investing activities (13,928 ) (3,001 ) (2,458 ) Financing activities Common stock repurchases (1,200 ) (4,008 ) (3,170 ) Proceeds from common stock issuances 402 462 598 Cash dividends paid (1,786 ) (1,362 ) (1,056 ) Proceeds from (repayments of) commercial paper, net 3,666 (794 ) (474 ) Proceeds from issuance of long-term debt 11,982 1,997 2,235 Repayments of long-term debt (1,041 ) (812 ) (943 ) Other, net (352 ) (190 ) (34 ) Cash flows from (used for) financing activities 11,671 (4,707 ) (2,844 ) Decrease in cash and cash equivalents (530 ) (263 ) (203 ) Cash and cash equivalents, beginning of period 559 822 1,025 Cash and cash equivalents, end of period $ 29 $ 559 $ 822 Supplemental cash flow disclosures Cash paid for interest $ 573 $ 578 $ 618 Cash paid for income taxes 4,294 4,028 2,765 See Notes to the Condensed Financial Statements of Registrant 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.” |
Basis of Presentation, Uses o24
Basis of Presentation, Uses of Estimates and Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2015 | |
Basis of presentation [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation The Company has prepared the Consolidated Financial Statements according to U.S. Generally Accepted Accounting Principles (GAAP) and has included the accounts of UnitedHealth Group and its subsidiaries. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates These Consolidated Financial Statements include certain amounts based on the Company’s best estimates and judgments. The Company’s most significant estimates relate to estimates and judgments for medical costs payable and revenues, valuation and impairment analysis of goodwill and other intangible assets, estimates of other policy liabilities and other current receivables and valuations of certain investments. Certain of these estimates require the application of complex assumptions and judgments, often because they involve matters that are inherently uncertain and will likely change in subsequent periods. The impact of any change in estimates is included in earnings in the period in which the estimate is adjusted. |
Reclassification, Policy [Policy Text Block] | Reclassification During the fourth quarter of 2015, the Company changed its accounting policy for the presentation of certain pharmacy fulfillment costs related to its OptumRx business. These costs are now included in medical costs and cost of products sold, whereas they were previously included in operating costs. Prior periods have been reclassified to conform to the current period presentation. The reclassification increased medical expenses by $376 million and $369 million , decreased operating costs by $418 million and $421 million and increased cost of products sold by $42 million and $52 million for the years ended December 31, 2014 and 2013, respectively. The reclassification had no impact on total operating costs, earnings from operations, net earnings, earnings per share or total equity. |
Revenue Recognition, Policy [Policy Text Block] | Revenues Premium revenues are primarily derived from risk-based health insurance arrangements in which the premium is typically at a fixed rate per individual served for a one-year period, and the Company assumes the economic risk of funding its customers’ health care and related administrative costs. Premium revenues are recognized in the period in which eligible individuals are entitled to receive health care benefits. Health care premium payments received from the Company’s customers in advance of the service period are recorded as unearned revenues. Fully insured commercial products of U.S. health plans, Medicare Advantage and Medicare Prescription Drug Benefit (Medicare Part D) plans with medical loss ratios as calculated under the definitions in the Patient Protection and Affordable Care Act and a reconciliation measure, the Health Care and Education Reconciliation Act of 2010 (together, Health Reform Legislation) and implementing regulations, that fall below certain targets are required to rebate ratable portions of their premiums annually. Additionally, the Company’s market reform compliant individual and small group plans in the commercial markets are subject to risk adjustment provisions as discussed in “Premium Stabilization Programs ” below. Premium revenues are recognized based on the estimated premiums earned net of projected rebates because the Company is able to reasonably estimate the ultimate premiums of these contracts. The Company also records premium revenues from capitation arrangements at its OptumHealth businesses. The Company’s Medicare Advantage and Medicare Part D premium revenues are subject to periodic adjustment under the Centers for Medicare & Medicaid Services’ (CMS) risk adjustment payment methodology. CMS deploys a risk adjustment model that apportions premiums paid to all health plans according to health severity and certain demographic factors. The CMS risk adjustment model provides higher per member payments for enrollees diagnosed with certain conditions and lower payments for enrollees who are healthier. Under this risk adjustment methodology, CMS calculates the risk adjusted premium payment using diagnosis data from hospital inpatient, hospital outpatient and physician treatment settings. The Company and health care providers collect, capture and submit the necessary and available diagnosis data to CMS within prescribed deadlines. The Company estimates risk adjustment revenues based upon the diagnosis data submitted and expected to be submitted to CMS. Risk adjustment data for certain of the Company’s plans are subject to review by the government, including audit by regulators. See Note 13 for additional information regarding these audits. For the Company’s OptumRx pharmacy care services business, revenues are derived from products sold through a contracted network of retail pharmacies or home delivery and specialty pharmacy facilities, and from administrative services, including claims processing and formulary design and management. Product revenues include ingredient costs (net of rebates), a negotiated dispensing fee and customer co-payments for drugs dispensed through the Company’s mail-service pharmacy. In retail pharmacy transactions, revenues recognized exclude the member’s applicable co-payment. Product revenues are recognized when the prescriptions are dispensed through the retail network or received by consumers through the Company’s mail-service pharmacy. Service revenues are recognized when the prescription claim is adjudicated. The Company has entered into retail service contracts in which it is primarily obligated to pay its network pharmacy providers for benefits provided to their customers regardless if the Company is paid. The Company is also involved in establishing the prices charged by retail pharmacies, determining which drugs will be included in formulary listings and selecting which retail pharmacies will be included in the network offered to plan sponsors’ members. As a result, revenues are reported on a gross basis. Service revenues consist primarily of fees derived from services performed for customers that self-insure the health care costs of their employees and employees’ dependents. Under service fee contracts, the Company recognizes revenue in the period the related services are performed. The customers retain the risk of financing health care costs for their employees and employees’ dependents, and the Company administers the payment of customer funds to physicians and other health care professionals from customer-funded bank accounts. As the Company has neither the obligation for funding the health care costs, nor the primary responsibility for providing the medical care, the Company does not recognize premium revenue and medical costs for these contracts in its Consolidated Financial Statements. For both risk-based and fee-based customer arrangements, the Company provides coordination and facilitation of medical services; transaction processing; customer, consumer and care professional services; and access to contracted networks of physicians, hospitals and other health care professionals. These services are performed throughout the contract period. |
Medical Costs and Medical Costs Payable [Policy Text Block] | Medical Costs and Medical Costs Payable Medical costs and medical costs payable include estimates of the Company’s obligations for medical care services that have been rendered on behalf of insured consumers, but for which claims have either not yet been received or processed, and for liabilities for physician, hospital and other medical cost disputes. The Company develops estimates for medical costs incurred but not reported using an actuarial process that is consistently applied, centrally controlled and automated. The actuarial models consider factors such as time from date of service to claim receipt, claim processing backlogs, care provider contract rate changes, medical care utilization and other medical cost trends. The Company estimates liabilities for physician, hospital and other medical cost disputes based upon an analysis of potential outcomes, assuming a combination of litigation and settlement strategies. Each period, the Company re-examines previously established medical costs payable estimates based on actual claim submissions and other changes in facts and circumstances. As the medical costs payable estimates recorded in prior periods develop, the Company adjusts the amount of the estimates and includes the changes in estimates in medical costs in the period in which the change is identified. Medical costs also include the direct cost of patient care. |
Cost of Sales, Policy [Policy Text Block] | Cost of Products Sold The Company’s cost of products sold includes the cost of pharmaceuticals dispensed to unaffiliated customers either directly at its mail and specialty pharmacy locations, or indirectly through its nationwide network of participating pharmacies. Rebates attributable to non-affiliated clients are accrued as rebates receivable and a reduction of cost of products sold with a corresponding payable for the amounts of the rebates to be remitted to those non-affiliated clients in accordance with their contracts and recorded in the Consolidated Statements of Operations as a reduction of product revenue. Cost of products sold also includes the cost of personnel to support the Company’s transaction processing services, system sales, maintenance and professional services. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and cash equivalents are highly liquid investments that have an original maturity of three months or less. The fair value of cash and cash equivalents approximates their carrying value because of the short maturity of the instruments. |
Investment, Policy [Policy Text Block] | Investments with maturities of less than one year are classified as short-term. Because of regulatory requirements, certain investments are included in long-term investments regardless of their maturity date. The Company classifies these investments as held-to-maturity and reports them at amortized cost. Substantially all other investments are classified as available-for-sale and reported at fair value based on quoted market prices, where available. The Company excludes unrealized gains and losses on investments in available-for-sale securities from net earnings and reports them as comprehensive income and, net of income tax effects, as a separate component of equity. To calculate realized gains and losses on the sale of investments, the Company specifically identifies the cost of each investment sold. The Company evaluates an investment for impairment by considering the length of time and extent to which market value has been less than cost or amortized cost, the financial condition and near-term prospects of the issuer as well as specific events or circumstances that may influence the operations of the issuer and the Company’s intent to sell the security or the likelihood that it will be required to sell the security before recovery of the entire amortized cost. New information and the passage of time can change these judgments. The Company manages its investment portfolio to limit its exposure to any one issuer or market sector, and largely limits its investments to investment grade quality. Securities downgraded below policy minimums after purchase will be disposed of in accordance with the Company’s investment policy. |
AARP Assets Under Management [Policy Text Block] | Assets Under Management The Company provides health insurance products and services to members of AARP under a Supplemental Health Insurance Program (the AARP Program) and to AARP members and non-members under separate Medicare Advantage and Medicare Part D arrangements. The products and services under the AARP Program include supplemental Medicare benefits (AARP Medicare Supplement Insurance), hospital indemnity insurance, including insurance for individuals between 50 to 64 years of age and other related products. Pursuant to the Company’s agreement, AARP Program assets are managed separately from its general investment portfolio and are used to pay costs associated with the AARP Program. These assets are invested at the Company’s discretion, within investment guidelines approved by AARP. The Company does not guarantee any rates of return on these investments and, upon any transfer of the AARP Program contract to another entity, the Company would transfer cash equal in amount to the fair value of these investments at the date of transfer to that entity. Because the purpose of these assets is to fund the medical costs payable, the rate stabilization fund (RSF) liabilities and other related liabilities associated with this AARP contract, assets under management are classified as current assets, consistent with the classification of these liabilities. The effects of changes in other balance sheet amounts associated with the AARP Program also accrue to the overall benefit of the AARP policyholders through the RSF balance. Accordingly, the Company excludes the effect of such changes in its Consolidated Statements of Cash Flows. For more detail on the RSF, see “Other Policy Liabilities” below. |
Receivables, Policy [Policy Text Block] | Other Current Receivables Other current receivables include amounts due from pharmaceutical manufacturers for rebates and Medicare Part D drug discounts, reinsurance and other miscellaneous amounts due to the Company. The Company’s pharmacy care services businesses contract with pharmaceutical manufacturers, some of which provide rebates based on use of the manufacturers’ products by its affiliated and non-affiliated clients. The Company accrues rebates as they are earned by its clients on a monthly basis based on the terms of the applicable contracts, historical data and current estimates. The pharmacy care services businesses bill these rebates to the manufacturers on a monthly or quarterly basis depending on the contractual terms and records rebates attributable to affiliated clients as a reduction to medical costs. The Company generally receives rebates from two to five months after billing. As of December 31, 2015 and 2014, total pharmaceutical manufacturer rebates receivable included in other receivables in the Consolidated Balance Sheets amounted to $2.6 billion and $1.5 billion, respectively. For details on the Company’s Medicare Part D receivables see “Medicare Part D Pharmacy Benefits” below. For details on the Company’s reinsurance receivable see “Future Policy Benefits and Reinsurance Receivable” below. |
Medicare Part D Policy [Policy Text Block] | Medicare Part D Pharmacy Benefits The Company serves as a plan sponsor offering Medicare Part D prescription drug insurance coverage under contracts with CMS. Under the Medicare Part D program, there are seven separate elements of payment received by the Company during the plan year. These payment elements are as follows: • CMS Premium. CMS pays a fixed monthly premium per member to the Company for the entire plan year. • Member Premium. Additionally, certain members pay a fixed monthly premium to the Company for the entire plan year. • Low-Income Premium Subsidy. For qualifying low-income members, CMS pays some or all of the member’s monthly premiums to the Company on the member’s behalf. • Catastrophic Reinsurance Subsidy . CMS pays the Company a cost reimbursement estimate monthly to fund the CMS obligation to pay approximately 80% of the costs incurred by individual members in excess of the individual annual out-of-pocket maximum. A settlement is made with CMS based on actual cost experience, after the end of the plan year. • Low-Income Member Cost Sharing Subsidy. For qualifying low-income members, CMS pays on the member’s behalf some or all of a member’s cost sharing amounts, such as deductibles and coinsurance. The cost sharing subsidy is funded by CMS through monthly payments to the Company. The Company administers and pays the subsidized portion of the claims on behalf of CMS, and a settlement payment is made between CMS and the Company based on actual claims and premium experience, after the end of the plan year. • CMS Risk-Share. Premiums from CMS are subject to risk corridor provisions that compare costs targeted in the Company’s annual bids by product and region to actual prescription drug costs, limited to actual costs that would have been incurred under the standard coverage as defined by CMS. Variances of more than 5% above or below the original bid submitted by the Company may result in CMS making additional payments to the Company or require the Company to refund to CMS a portion of the premiums it received. The Company estimates and recognizes an adjustment to premium revenues related to the risk corridor payment settlement based upon pharmacy claims experience to date. The estimate of the settlement associated with these risk corridor provisions requires the Company to consider factors that may not be certain, including estimates of eligible pharmacy costs and member eligibility status differences with CMS. The Company records risk-share adjustments to premium revenues in the Consolidated Statements of Operations and other policy liabilities or other current receivables in the Consolidated Balance Sheets. • Drug Discount. Health Reform Legislation mandated a consumer discount on brand name prescription drugs for Medicare Part D plan participants in the coverage gap. This discount is funded by CMS and pharmaceutical manufacturers while the Company administers the application of these funds. Accordingly, amounts received are not reflected as premium revenues, but rather are accounted for as deposits. The Company records a liability when amounts are received from CMS and a receivable when the Company bills the pharmaceutical manufacturers. Related cash flows are presented as customer funds administered within financing activities in the Consolidated Statements of Cash Flows. The CMS Premium, the Member Premium and the Low-Income Premium Subsidy represent payments for the Company’s insurance risk coverage under the Medicare Part D program and, therefore, are recorded as premium revenues in the Consolidated Statements of Operations. Premium revenues are recognized ratably over the period in which eligible individuals are entitled to receive prescription drug benefits. The Company records premium payments received in advance of the applicable service period in unearned revenues in the Consolidated Balance Sheets. The Catastrophic Reinsurance Subsidy and the Low-Income Member Cost Sharing Subsidy (Subsidies) represent cost reimbursements under the Medicare Part D program. Amounts received for these Subsidies are not reflected as premium revenues, but rather are accounted for as receivables and/or deposits. Related cash flows are presented as customer funds administered within financing activities in the Consolidated Statements of Cash Flows. Pharmacy benefit costs and administrative costs under the contract are expensed as incurred and are recognized in medical costs and operating costs, respectively, in the Consolidated Statements of Operations. The final 2015 risk-share amount is expected to be settled during the second half of 2016, and is subject to the reconciliation process with CMS. The Consolidated Balance Sheets include the following amounts associated with the Medicare Part D program: December 31, 2015 December 31, 2014 (in millions) Subsidies Drug Discount Risk-Share Subsidies Drug Discount Risk-Share Other current receivables $ 1,703 $ 423 $ — $ 1,801 $ 719 $ 20 Other policy liabilities — 58 496 — 302 — |
Property, Plant and Equipment, Policy [Policy Text Block] | Property, Equipment and Capitalized Software Property, equipment and capitalized software are stated at cost, net of accumulated depreciation and amortization. Capitalized software consists of certain costs incurred in the development of internal-use software, including external direct costs of materials and services and applicable payroll costs of employees devoted to specific software development. The Company calculates depreciation and amortization using the straight-line method over the estimated useful lives of the assets. The useful lives for property, equipment and capitalized software are: Furniture, fixtures and equipment 3 to 7 years Buildings 35 to 40 years Capitalized software 3 to 5 years Leasehold improvements are depreciated over the shorter of the remaining lease term or their estimated useful economic life. |
Goodwill Policy [Policy Text Block] | Goodwill To determine whether goodwill is impaired, annually or more frequently if needed, the Company performs a multi-step impairment test. First, the Company estimates the fair values of its reporting units using discounted cash flows. To determine fair values, the Company must make assumptions about a wide variety of internal and external factors. Significant assumptions used in the impairment analysis include financial projections of free cash flow (including significant assumptions about operations, capital requirements and income taxes), long-term growth rates for determining terminal value and discount rates. Comparative market multiples are used to corroborate the results of the discounted cash flow test. If the fair value is less than the carrying value of the reporting unit, then the implied value of goodwill would be calculated and compared to the carrying amount of goodwill to determine whether goodwill is impaired. During 2015, the Company changed its annual quantitative goodwill impairment testing date from January 1 to October 1 of each year. The change in the goodwill impairment test date better aligns the impairment testing procedures with the timing of the Company’s long-term planning process, which is a significant input to the testing. This change in testing date did not delay, accelerate, or avoid a goodwill impairment charge. There was no impairment of goodwill during the year ended December 31, 2015 . |
Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block] | Intangible Assets The Company’s intangible assets are subject to impairment tests when events or circumstances indicate that an intangible asset (or asset group) may be impaired. The Company’s indefinite lived intangible assets are also tested for impairment annually. There was no impairment of intangible assets during the year ended December 31, 2015 . |
Accounts Payable and Accrued Liabilities [Policy Text Block] | Accounts Payable and Accrued Liabilities The Company had checks outstanding of $1.6 billion and $1.4 billion as of December 31, 2015 and 2014, respectively, which were classified as accounts payable and accrued liabilities and the change in this balance has been reflected within other financing activities in the Consolidated Statements of Cash Flows. As of both December 31, 2015 and 2014, accounts payable and accrued liabilities included accrued payroll liabilities of $1.5 billion |
Other Policy Liabilities [Policy Text Block] | Other Policy Liabilities Other policy liabilities include the RSF associated with the AARP Program, health savings account deposits, deposits under the Medicare Part D program (see “Medicare Part D Pharmacy Benefits” above), accruals for premium rebate payments under Health Reform Legislation, the current portion of future policy benefits and customer balances. Customer balances represent excess customer payments and deposit accounts under experience-rated contracts. At the customer’s option, these balances may be refunded or used to pay future premiums or claims under eligible contracts. Changes in the RSF are reported in medical costs in the Consolidated Statement of Operations. As of December 31, 2015 and 2014, the balance in the RSF was $1.6 billion and $1.5 billion , respectively. |
Future Policy Benefits Liability, Policy [Policy Text Block] | Future Policy Benefits and Reinsurance Receivable Future policy benefits represent account balances that accrue to the benefit of the policyholders, excluding surrender charges, for universal life and investment annuity products and for long-duration health policies sold to individuals for which some of the premium received in the earlier years is intended to pay benefits to be incurred in future years. As a result of the 2005 sale of the life and annuity business within the Company’s Golden Rule Financial Corporation subsidiary under an indemnity reinsurance arrangement, the Company has maintained a liability associated with the reinsured contracts, as it remains primarily liable to the policyholders, and has recorded a corresponding reinsurance receivable due from the purchaser. The Consolidated Balance Sheets include the following amounts associated with Golden Rule as of December 31, 2015 and 2014: (in millions) 2015 2014 Other current receivables $ 133 $ 127 Other assets 1,610 1,669 Other policy liabilities (133 ) (127 ) Future policy benefits (1,610 ) (1,669 ) The Company evaluates the financial condition of the reinsurer and only records the reinsurance receivable to the extent of probable recovery. As of December 31, 2015 , the reinsurer was rated by A.M. Best as “A+.” |
Deferred Policy Acquisition Costs, Policy [Policy Text Block] | Policy Acquisition Costs The Company’s short duration health insurance contracts typically have a one-year term and may be canceled by the customer with at least 30 days’ notice. Costs related to the acquisition and renewal of short duration customer contracts are charged to expense as incurred. |
Consolidation, Subsidiaries or Other Investments, Consolidated Entities, Policy [Policy Text Block] | Redeemable Noncontrolling Interests Redeemable noncontrolling interests in the Company’s subsidiaries whose redemption is outside the control of the Company are classified as temporary equity. The following table provides details of the Company's redeemable noncontrolling interests activity for the years ended December 31, 2015 and 2014 : (in millions) 2015 2014 Redeemable noncontrolling interests, beginning of period $ 1,388 $ 1,175 Net earnings 29 — Acquisitions 196 203 Redemptions (116 ) — Distributions (19 ) (40 ) Fair value and other adjustments 258 50 Redeemable noncontrolling interests, end of period $ 1,736 $ 1,388 |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Share-Based Compensation The Company recognizes compensation expense for share-based awards, including stock options, stock-settled stock appreciation rights (SARs) and restricted stock and restricted stock units (collectively, restricted shares), on a straight-line basis over the related service period (generally the vesting period) of the award, or to an employee’s eligible retirement date under the award agreement, if earlier. Restricted shares vest ratably; primarily over two to five years and compensation expense related to restricted shares is based on the share price on date of grant. Stock options and SARs vest ratably primarily over four to six years and may be exercised up to 10 years from the date of grant. Compensation expense related to stock options and SARs is based on the fair value at date of grant, which is estimated on the date of grant using a binomial option-pricing model. Under the Company’s Employee Stock Purchase Plan (ESPP) eligible employees are allowed to purchase the Company’s stock at a discounted price, which is 85% of the lower market price of the Company’s common stock at the beginning or at the end of the six-month purchase period. Share-based compensation expense for all programs is recognized in operating costs in the Company’s Consolidated Statements of Operations. |
Earnings Per Share, Policy [Policy Text Block] | Net Earnings Per Common Share The Company computes basic earnings per common share attributable to UnitedHealth Group common stockholders by dividing net earnings attributable to UnitedHealth Group common stockholders by the weighted-average number of common shares outstanding during the period. The Company determines diluted net earnings per common share attributable to UnitedHealth Group common stockholders using the weighted-average number of common shares outstanding during the period, adjusted for potentially dilutive shares associated with stock options, SARs, restricted shares and the ESPP, (collectively, common stock equivalents) using the treasury stock method. The treasury stock method assumes a hypothetical issuance of shares to settle the share-based awards, with the assumed proceeds used to purchase common stock at the average market price for the period. Assumed proceeds include the amount the employee must pay upon exercise, any unrecognized compensation cost and any related excess tax benefit. The difference between the number of shares assumed issued and number of shares assumed purchased represents the dilutive shares. |
Industry Tax, Policy [Policy Text Block] | Health Insurance Industry Tax Health Reform Legislation includes an annual, nondeductible insurance industry tax (Health Insurance Industry Tax) to be levied proportionally across the insurance industry for risk-based health insurance products. The Company estimates its liability for the Health Insurance Industry Tax based on a ratio of the Company’s applicable net premiums written compared to the U.S. health insurance industry total applicable net premiums, both for the previous calendar year. The Company records in full the estimated liability for the Health Insurance Industry Tax at the beginning of the calendar year with a corresponding deferred cost that is amortized to operating costs on the Consolidated Statements of Operations using a straight-line method of allocation over the calendar year. The liability is recorded in accounts payable and accrued liabilities and the corresponding deferred cost is recorded in prepaid expenses and other current assets on the Consolidated Balance Sheets. In September 2015, the Company paid its full year 2015 Health Insurance Industry Tax of $1.8 billion . There was no liability or asset related to the Health Insurance Industry Tax recorded as of both December 31, 2015 and 2014 as the Health Insurance Industry Tax was paid in September of both years and the asset was fully expensed by each year end. |
Premium Stabilization Programs, Accounting Policy [Policy Text Block] | Premium Stabilization Programs Health Reform Legislation has included three programs designed to stabilize health insurance markets (Premium Stabilization Programs): a permanent risk adjustment program; a temporary risk corridors program; and a transitional reinsurance program (Reinsurance Program). The risk-adjustment provisions apply to market reform compliant individual and small group plans in the commercial markets. Under the program, each covered member is assigned a risk score based upon demographic information and applicable diagnostic codes from the current year paid claims, in order to determine an average risk score for each plan in a particular state and market risk pool. Generally, a plan with a risk score that is less than the state’s average risk score will pay into the pool, while a plan with a risk score that is greater than the state’s average will receive money from the pool. The temporary risk corridors provisions are intended to limit the gains and losses of individual and small group qualified health plans. Plans are required to calculate the U.S. Department of Health and Human Services (HHS) risk corridor ratio of allowable costs to the defined target amount. Qualified health plans with ratios below 97% are required to make payments to HHS, while plans with ratios greater than 103% expect to receive funds from HHS. The Reinsurance Program is a transitional three year program through 2016 that is funded on a per capita basis from all commercial lines of business, including insured and self-funded arrangements. For the Premium Stabilization Programs, the Company records a receivable or payable as an adjustment to premium revenue based on year-to-date experience when the amounts are reasonably estimable and collection is reasonably assured. Final adjustments or recoverable amounts to the Premium Stabilization Programs are determined by HHS in the year following the policy year. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Issued Accounting Standards In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standard Update (ASU) No. 2014-09, “Revenue from Contracts with Customers (Topic 606)” (ASU 2014-09) as modified by ASU No. 2015-14, “Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date.” ASU 2014-09 will supersede existing revenue recognition standards with a single model unless those contracts are within the scope of other standards (e.g., an insurance entity’s insurance contracts). The revenue recognition principle in ASU 2014-09 is that an entity should recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In addition, new and enhanced disclosures will be required. Companies can adopt the new standard either using the full retrospective approach, a modified retrospective approach with practical expedients, or a cumulative effect upon adoption approach. ASU 2014-09 is effective for annual and interim reporting periods beginning after December 15, 2017. Early adoption at the original effective date, for interim and annual periods beginning after December 15, 2016, will be permitted. The Company is currently evaluating the effect of the new revenue recognition guidance. In November 2015, the FASB issued ASU No. 2015-17, “Balance Sheet Classification of Deferred Taxes (Topic 740)” (ASU 2015-17). ASU 2015-17 requires entities to present deferred tax assets and deferred tax liabilities as noncurrent on a classified balance sheet. ASU -2015-17 is effective for annual and interim reporting periods after December 15, 2016 and companies are permitted to apply ASU 2015-17 either prospectively or retrospectively. Early adoption of ASU 2015-17 is permitted. The Company plans to early adopt ASU 2015-17 on a prospective basis in the first quarter of 2016. |
Fair Value Fair Value (Policies
Fair Value Fair Value (Policies) | 12 Months Ended |
Dec. 31, 2015 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Fair Value Measurement, Policy [Policy Text Block] | Certain assets and liabilities are measured at fair value in the Consolidated Financial Statements or have fair values disclosed in the Notes to the Consolidated Financial Statements. These assets and liabilities are classified into one of three levels of a hierarchy defined by GAAP. In instances in which the inputs used to measure fair value fall into different levels of the fair value hierarchy, the fair value measurement is categorized in its entirety based on the lowest level input that is significant to the fair value measurement in its entirety. The Company’s assessment of the significance of a particular item to the fair value measurement in its entirety requires judgment, including the consideration of inputs specific to the asset or liability. The fair value hierarchy is summarized as follows: Level 1 — Quoted prices (unadjusted) for identical assets/liabilities in active markets. Level 2 — Other observable inputs, either directly or indirectly, including: • Quoted prices for similar assets/liabilities in active markets; • Quoted prices for identical or similar assets/liabilities in inactive markets (e.g., few transactions, limited information, noncurrent prices, high variability over time); • Inputs other than quoted prices that are observable for the asset/liability (e.g., interest rates, yield curves, implied volatilities, credit spreads); and • Inputs that are corroborated by other observable market data. Level 3 — Unobservable inputs that cannot be corroborated by observable market data. Transfers between levels, if any, are recorded as of the beginning of the reporting period in which the transfer occurs; there were no transfers between Levels 1, 2 or 3 of any financial assets or liabilities during 2015 or 2014 . Nonfinancial assets and liabilities or financial assets and liabilities that are measured at fair value on a nonrecurring basis are subject to fair value adjustments only in certain circumstances, such as when the Company records an impairment. There were no significant fair value adjustments for these assets and liabilities recorded during the years ended December 31, 2015 or 2014 . The following methods and assumptions were used to estimate the fair value and determine the fair value hierarchy classification of each class of financial instrument included in the tables below: Cash and Cash Equivalents. The carrying value of cash and cash equivalents approximates fair value as maturities are less than three months. Fair values of cash equivalent instruments that do not trade on a regular basis in active markets are classified as Level 2. Debt and Equity Securities. Fair values of debt and equity securities are based on quoted market prices, where available. The Company obtains one price for each security primarily from a third-party pricing service (pricing service), which generally uses quoted or other observable inputs for the determination of fair value. The pricing service normally derives the security prices through recently reported trades for identical or similar securities, and, if necessary, makes adjustments through the reporting date based upon available observable market information. For securities not actively traded, the pricing service may use quoted market prices of comparable instruments or discounted cash flow analyses, incorporating inputs that are currently observable in the markets for similar securities. Inputs that are often used in the valuation methodologies include, but are not limited to, benchmark yields, credit spreads, default rates, prepayment speeds and nonbinding broker quotes. As the Company is responsible for the determination of fair value, it performs quarterly analyses on the prices received from the pricing service to determine whether the prices are reasonable estimates of fair value. Specifically, the Company compares the prices received from the pricing service to prices reported by a secondary pricing source, such as its custodian, its investment consultant and third-party investment advisors. Additionally, the Company compares changes in the reported market values and returns to relevant market indices to test the reasonableness of the reported prices. The Company’s internal price verification procedures and reviews of fair value methodology documentation provided by independent pricing services have not historically resulted in adjustment in the prices obtained from the pricing service. Fair values of debt securities that do not trade on a regular basis in active markets but are priced using other observable inputs are classified as Level 2. Fair value estimates for Level 1 and Level 2 equity securities are based on quoted market prices for actively traded equity securities and/or other market data for the same or comparable instruments and transactions in establishing the prices. The fair values of Level 3 investments in venture capital portfolios are estimated using a market valuation technique that relies heavily on management assumptions and qualitative observations. Under the market approach, the fair values of the Company’s various venture capital investments are computed using limited quantitative and qualitative observations of activity for similar companies in the current market. The Company’s market modeling utilizes, as applicable, transactions for comparable companies in similar industries that also have similar revenue and growth characteristics and preferences in their capital structure. Key significant unobservable inputs in the market technique include implied earnings before interest, taxes, depreciation and amortization (EBITDA) multiples and revenue multiples. Additionally, the fair values of certain of the Company’s venture capital securities are based on recent transactions in inactive markets for identical or similar securities. Significant changes in any of these inputs could result in significantly lower or higher fair value measurements. Throughout the procedures discussed above in relation to the Company’s processes for validating third-party pricing information, the Company validates the understanding of assumptions and inputs used in security pricing and determines the proper classification in the hierarchy based on that understanding. Other Assets. The fair values of the Company’s other assets are estimated and classified using the same methodologies as the Company’s investments in debt securities. AARP Program-Related Investments. AARP Program-related investments consist of debt securities and other investments held to fund costs associated with the AARP Program and are priced and classified using the same methodologies as the Company’s investments in debt and equity securities. Interest Rate Swaps. Fair values of the Company’s swaps are estimated using the terms of the swaps and publicly available information, including market yield curves. Because the swaps are unique and not actively traded but are valued using other observable inputs, the fair values are classified as Level 2. Long-Term Debt. The fair values of the Company’s long-term debt are estimated and classified using the same methodologies as the Company’s investments in debt securities. AARP Program-Related Other Liabilities. AARP Program-related other liabilities consist of liabilities that represent the amount of net investment gains and losses related to AARP Program-related investments that accrue to the benefit of the AARP policyholders. |
Basis of Presentation, Uses o26
Basis of Presentation, Uses of Estimates and Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Schedule of Other Current Receivables and Other Policy Liabilities Associated with Medicare Part D Program [Table Text Block] | The Consolidated Balance Sheets include the following amounts associated with the Medicare Part D program: December 31, 2015 December 31, 2014 (in millions) Subsidies Drug Discount Risk-Share Subsidies Drug Discount Risk-Share Other current receivables $ 1,703 $ 423 $ — $ 1,801 $ 719 $ 20 Other policy liabilities — 58 496 — 302 — |
Property, Plant and Equipment [Table Text Block] | A summary of property, equipment and capitalized software is as follows: (in millions) December 31, 2015 December 31, 2014 Land and improvements $ 237 $ 310 Buildings and improvements 2,420 2,295 Computer equipment 1,945 1,693 Furniture and fixtures 790 675 Less accumulated depreciation (2,163 ) (1,982 ) Property and equipment, net 3,229 2,991 Capitalized software 2,642 2,399 Less accumulated amortization (1,010 ) (972 ) Capitalized software, net 1,632 1,427 Total property, equipment and capitalized software, net $ 4,861 $ 4,418 |
Effects of Reinsurance [Table Text Block] | The Consolidated Balance Sheets include the following amounts associated with Golden Rule as of December 31, 2015 and 2014: (in millions) 2015 2014 Other current receivables $ 133 $ 127 Other assets 1,610 1,669 Other policy liabilities (133 ) (127 ) Future policy benefits (1,610 ) (1,669 ) |
Redeemable Noncontrolling Interest [Table Text Block] | The following table provides details of the Company's redeemable noncontrolling interests activity for the years ended December 31, 2015 and 2014 : (in millions) 2015 2014 Redeemable noncontrolling interests, beginning of period $ 1,388 $ 1,175 Net earnings 29 — Acquisitions 196 203 Redemptions (116 ) — Distributions (19 ) (40 ) Fair value and other adjustments 258 50 Redeemable noncontrolling interests, end of period $ 1,736 $ 1,388 |
Useful Life [Member] | |
Property, Plant and Equipment [Table Text Block] | The Company calculates depreciation and amortization using the straight-line method over the estimated useful lives of the assets. The useful lives for property, equipment and capitalized software are: Furniture, fixtures and equipment 3 to 7 years Buildings 35 to 40 years Capitalized software 3 to 5 years |
Business Combination (Tables)
Business Combination (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Business Acquisition [Line Items] | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | Acquired tangible assets (liabilities) for Catamaran at acquisition date were: (in millions) Cash and cash equivalents $ 299 Accounts receivable and other current assets 2,005 Rebates receivable 602 Property, equipment and other long-term assets 215 Accounts payable and other current liabilities (2,525 ) Deferred income taxes and other long-term liabilities (1,923 ) Total net tangible liabilities $ (1,327 ) |
Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block] | The acquisition date fair values and weighted-average useful lives assigned to finite-lived intangible assets acquired in business combinations consisted of the following by year of acquisition: 2015 2014 (in millions, except years) Fair Value Weighted-Average Useful Life Fair Value Weighted-Average Useful Life Customer-related $ 5,518 19 years $ 314 14 years Trademarks and technology 194 4 years 148 6 years Other — 2 14 years Total acquired finite-lived intangible assets $ 5,712 19 years $ 464 11 years |
Catamaran [Member] | |
Business Acquisition [Line Items] | |
Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block] | The acquisition date fair values and weighted-average useful lives assigned to Catamaran’s finite-lived intangible assets were: (in millions, except years) Fair Value Weighted-Average Useful Life Customer-related $ 5,278 19 years Trademarks and technology 159 4 years Total acquired finite-lived intangible assets $ 5,437 19 years |
Investments (Tables)
Investments (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Short-Term and Long-Term Investments [Table Text Block] | A summary of short-term and long-term investments by major security type is as follows: (in millions) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value December 31, 2015 Debt securities - available-for-sale: U.S. government and agency obligations $ 1,982 $ 1 $ (6 ) $ 1,977 State and municipal obligations 6,022 149 (3 ) 6,168 Corporate obligations 7,446 41 (81 ) 7,406 U.S. agency mortgage-backed securities 2,127 13 (16 ) 2,124 Non-U.S. agency mortgage-backed securities 962 5 (11 ) 956 Total debt securities - available-for-sale 18,539 209 (117 ) 18,631 Equity securities - available-for-sale 1,638 58 (57 ) 1,639 Debt securities - held-to-maturity: U.S. government and agency obligations 163 1 — 164 State and municipal obligations 8 — — 8 Corporate obligations 339 — — 339 Total debt securities - held-to-maturity 510 1 — 511 Total investments $ 20,687 $ 268 $ (174 ) $ 20,781 December 31, 2014 Debt securities - available-for-sale: U.S. government and agency obligations $ 1,614 $ 7 $ (1 ) $ 1,620 State and municipal obligations 6,456 217 (5 ) 6,668 Corporate obligations 7,241 112 (26 ) 7,327 U.S. agency mortgage-backed securities 2,022 39 (5 ) 2,056 Non-U.S. agency mortgage-backed securities 872 12 (4 ) 880 Total debt securities - available-for-sale 18,205 387 (41 ) 18,551 Equity securities - available-for-sale 1,511 36 (25 ) 1,522 Debt securities - held-to-maturity: U.S. government and agency obligations 178 2 — 180 State and municipal obligations 19 — — 19 Corporate obligations 298 — — 298 Total debt securities - held-to-maturity 495 2 — 497 Total investments $ 20,211 $ 425 $ (66 ) $ 20,570 |
Investments by Contractual Maturity [Table Text Block] | The amortized cost and fair value of debt securities as of December 31, 2015 , by contractual maturity, were as follows: Available-for-Sale Held-to-Maturity (in millions) Amortized Cost Fair Value Amortized Fair Due in one year or less $ 2,103 $ 2,105 $ 121 $ 121 Due after one year through five years 6,830 6,843 188 188 Due after five years through ten years 4,752 4,793 118 118 Due after ten years 1,765 1,810 83 84 U.S. agency mortgage-backed securities 2,127 2,124 — — Non-U.S. agency mortgage-backed securities 962 956 — — Total debt securities $ 18,539 $ 18,631 $ 510 $ 511 |
Fair Value of Available-for-Sale Investments with Gross Unrealized Losses by Investment Type and Length of Time that Individual Securities have been in a Continuous Unrealized Loss Position [Table Text Block] | The fair value of available-for-sale investments with gross unrealized losses by major security type and length of time that individual securities have been in a continuous unrealized loss position were as follows: Less Than 12 Months 12 Months or Greater Total (in millions) Fair Value Gross Unrealized Losses Fair Value Gross Fair Value Gross December 31, 2015 Debt securities - available-for-sale: U.S. government and agency obligations $ 1,473 $ (6 ) $ — $ — $ 1,473 $ (6 ) State and municipal obligations 650 (3 ) — — 650 (3 ) Corporate obligations 4,629 (63 ) 339 (18 ) 4,968 (81 ) U.S. agency mortgage-backed securities 1,304 (12 ) 116 (4 ) 1,420 (16 ) Non-U.S. agency mortgage-backed securities 593 (7 ) 127 (4 ) 720 (11 ) Total debt securities - available-for-sale $ 8,649 $ (91 ) $ 582 $ (26 ) $ 9,231 $ (117 ) Equity securities - available-for-sale $ 112 $ (11 ) $ 89 $ (46 ) $ 201 $ (57 ) December 31, 2014 Debt securities - available-for-sale: U.S. government and agency obligations $ 420 $ (1 ) $ — $ — $ 420 $ (1 ) State and municipal obligations 711 (4 ) 99 (1 ) 810 (5 ) Corporate obligations 2,595 (17 ) 464 (9 ) 3,059 (26 ) U.S. agency mortgage-backed securities — — 272 (5 ) 272 (5 ) Non-U.S. agency mortgage-backed securities 254 (2 ) 114 (2 ) 368 (4 ) Total debt securities - available-for-sale $ 3,980 $ (24 ) $ 949 $ (17 ) $ 4,929 $ (41 ) Equity securities - available-for-sale $ 107 $ (6 ) $ 88 $ (19 ) $ 195 $ (25 ) |
Net Realized Gains, Included in Investment and Other Income [Table Text Block] | Net realized gains reclassified out of accumulated other comprehensive income were from the following sources: For the Years Ended December 31, (in millions) 2015 2014 2013 Total OTTI $ (22 ) $ (26 ) $ (8 ) Portion of loss recognized in other comprehensive income — — — Net OTTI recognized in earnings (22 ) (26 ) (8 ) Gross realized losses from sales (28 ) (47 ) (9 ) Gross realized gains from sales 191 284 198 Net realized gains (included in investment and other income on the Consolidated Statements of Operations) 141 211 181 Income tax effect (included in provision for income taxes on the Consolidated Statements of Operations) (53 ) (77 ) (66 ) Realized gains, net of taxes $ 88 $ 134 $ 115 |
Fair Value (Tables)
Fair Value (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Financial Assets and Liabilities, Measured at Fair Value Recurring Basis [Table Text Block] | The following table presents a summary of fair value measurements by level and carrying values for items measured at fair value on a recurring basis in the Consolidated Balance Sheets excluding AARP Program-related assets and liabilities, which are presented in a separate table below: (in millions) Quoted Prices in Active Markets (Level 1) Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) Total Fair and Carrying Value December 31, 2015 Cash and cash equivalents $ 10,906 $ 17 $ — $ 10,923 Debt securities - available-for-sale: U.S. government and agency obligations 1,779 198 — 1,977 State and municipal obligations — 6,168 — 6,168 Corporate obligations 5 7,308 93 7,406 U.S. agency mortgage-backed securities — 2,124 — 2,124 Non-U.S. agency mortgage-backed securities — 951 5 956 Total debt securities - available-for-sale 1,784 16,749 98 18,631 Equity securities - available-for-sale 1,223 14 402 1,639 Interest rate swap assets — 93 — 93 Total assets at fair value $ 13,913 $ 16,873 $ 500 $ 31,286 Percentage of total assets at fair value 44 % 54 % 2 % 100 % Interest rate swap liabilities $ — $ 11 $ — $ 11 December 31, 2014 Cash and cash equivalents $ 7,472 $ 23 $ — $ 7,495 Debt securities - available-for-sale: U.S. government and agency obligations 1,427 193 — 1,620 State and municipal obligations — 6,668 — 6,668 Corporate obligations 2 7,257 68 7,327 U.S. agency mortgage-backed securities — 2,056 — 2,056 Non-U.S. agency mortgage-backed securities — 874 6 880 Total debt securities - available-for-sale 1,429 17,048 74 18,551 Equity securities - available-for-sale 1,200 12 310 1,522 Interest rate swap assets — 62 — 62 Total assets at fair value $ 10,101 $ 17,145 $ 384 $ 27,630 Percentage of total assets at fair value 37 % 62 % 1 % 100 % Interest rate swap liabilities $ — $ 55 $ — $ 55 |
Fair Value Measurements, Nonrecurring [Table Text Block] | The following table presents a summary of fair value measurements by level and carrying values for certain financial instruments not measured at fair value on a recurring basis in the Consolidated Balance Sheets: (in millions) Quoted Prices in Active Markets (Level 1) Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) Total Fair Value Total Carrying Value December 31, 2015 Debt securities - held-to-maturity: U.S. government and agency obligations $ 164 $ — $ — $ 164 $ 163 State and municipal obligations — — 8 8 8 Corporate obligations 91 10 238 339 339 Total debt securities - held-to-maturity $ 255 $ 10 $ 246 $ 511 $ 510 Other assets $ — $ 493 $ — $ 493 $ 500 Long-term debt and other financing obligations $ — $ 29,455 $ — $ 29,455 $ 28,107 December 31, 2014 Debt securities - held-to-maturity: U.S. government and agency obligations $ 180 $ — $ — $ 180 $ 178 State and municipal obligations — — 19 19 19 Corporate obligations 46 10 242 298 298 Total debt securities - held-to-maturity $ 226 $ 10 $ 261 $ 497 $ 495 Other assets $ — $ 478 $ — $ 478 $ 484 Long-term debt and other financing obligations $ — $ 18,863 $ — $ 18,863 $ 17,085 |
Reconciliation of Assets Measured at Fair Value on a Recurring Basis Using Level 3 Inputs [Table Text Block] | A reconciliation of the beginning and ending balances of assets measured at fair value on a recurring basis using Level 3 inputs is as follows: December 31, 2015 December 31, 2014 December 31, 2013 (in millions) Debt Securities Equity Securities Total Debt Securities Equity Securities Total Debt Securities Equity Securities Total Balance at beginning of period $ 74 $ 310 $ 384 $ 42 $ 269 $ 311 $ 17 $ 224 $ 241 Purchases 27 106 133 32 105 137 38 71 109 Sales (4 ) (24 ) (28 ) (1 ) (180 ) (181 ) (10 ) (25 ) (35 ) Net unrealized gains (losses) in other comprehensive income 2 5 7 1 6 7 (2 ) (7 ) (9 ) Net realized (losses) gains in investment and other income (1 ) 5 4 — 110 110 (1 ) 6 5 Balance at end of period $ 98 $ 402 $ 500 $ 74 $ 310 $ 384 $ 42 $ 269 $ 311 |
Fair Value Inputs, Assets, Quantitative Information [Table Text Block] | The following table presents quantitative information regarding unobservable inputs that were significant to the valuation of assets measured at fair value on a recurring basis using Level 3 inputs: Range (in millions) Fair Value Valuation Technique Unobservable Input Low High December 31, 2015 Equity securities - available-for-sale: Venture capital portfolios $ 358 Market approach - comparable companies Revenue multiple 1.0 5.0 EBITDA multiple 9.0 10.0 44 Market approach - recent transactions Inactive market transactions N/A N/A Total equity securities available-for-sale $ 402 |
AARP Program [Member] | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Financial Assets and Liabilities, Measured at Fair Value Recurring Basis [Table Text Block] | The following table presents fair value information about the AARP Program-related financial assets and liabilities: (in millions) Quoted Prices in Active Markets (Level 1) Other Observable Inputs (Level 2) Total Fair and Carrying Value December 31, 2015 Cash and cash equivalents $ 274 $ — $ 274 Debt securities: U.S. government and agency obligations 482 140 622 State and municipal obligations — 103 103 Corporate obligations — 1,244 1,244 U.S. agency mortgage-backed securities — 398 398 Non-U.S. agency mortgage-backed securities — 195 195 Total debt securities 482 2,080 2,562 Other investments 76 86 162 Total assets at fair value $ 832 $ 2,166 $ 2,998 December 31, 2014 Cash and cash equivalents $ 415 $ — $ 415 Debt securities: U.S. government and agency obligations 409 245 654 State and municipal obligations — 95 95 Corporate obligations — 1,200 1,200 U.S. agency mortgage-backed securities — 340 340 Non-U.S. agency mortgage-backed securities — 177 177 Total debt securities 409 2,057 2,466 Equity securities - available-for-sale — 81 81 Total assets at fair value $ 824 $ 2,138 $ 2,962 Other liabilities $ 5 $ 13 $ 18 |
Property, Plant, and Capitali30
Property, Plant, and Capitalized Software (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment [Table Text Block] | A summary of property, equipment and capitalized software is as follows: (in millions) December 31, 2015 December 31, 2014 Land and improvements $ 237 $ 310 Buildings and improvements 2,420 2,295 Computer equipment 1,945 1,693 Furniture and fixtures 790 675 Less accumulated depreciation (2,163 ) (1,982 ) Property and equipment, net 3,229 2,991 Capitalized software 2,642 2,399 Less accumulated amortization (1,010 ) (972 ) Capitalized software, net 1,632 1,427 Total property, equipment and capitalized software, net $ 4,861 $ 4,418 |
Goodwill and Intangible Asset31
Goodwill and Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Goodwill [Line Items] | |
Schedule of Goodwill [Table Text Block] | Changes in the carrying amount of goodwill, by reportable segment, were as follows: (in millions) UnitedHealthcare OptumHealth OptumInsight OptumRx Consolidated Balance at January 1, 2014 $ 24,251 $ 2,860 $ 3,653 $ 840 $ 31,604 Acquisitions 266 978 591 — 1,835 Foreign currency effects and adjustments, net (487 ) (4 ) (8 ) — (499 ) Balance at December 31, 2014 24,030 3,834 4,236 840 32,940 Acquisitions 128 1,817 89 10,732 12,766 Foreign currency effects and adjustments, net (1,233 ) 9 (29 ) — (1,253 ) Balance at December 31, 2015 $ 22,925 $ 5,660 $ 4,296 $ 11,572 $ 44,453 |
Schedule of Acquired Finite-Lived Intangible Assets by Major Class [Table Text Block] | The gross carrying value, accumulated amortization and net carrying value of other intangible assets were as follows: December 31, 2015 December 31, 2014 (in millions) Gross Carrying Value Accumulated Amortization Net Carrying Value Gross Carrying Value Accumulated Amortization Net Carrying Value Customer-related $ 10,270 $ (2,796 ) $ 7,474 $ 5,021 $ (2,399 ) $ 2,622 Trademarks and technology 682 (249 ) 433 527 (202 ) 325 Trademarks - indefinite-lived 358 — 358 539 — 539 Other 209 (83 ) 126 267 (84 ) 183 Total $ 11,519 $ (3,128 ) $ 8,391 $ 6,354 $ (2,685 ) $ 3,669 |
Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block] | The acquisition date fair values and weighted-average useful lives assigned to finite-lived intangible assets acquired in business combinations consisted of the following by year of acquisition: 2015 2014 (in millions, except years) Fair Value Weighted-Average Useful Life Fair Value Weighted-Average Useful Life Customer-related $ 5,518 19 years $ 314 14 years Trademarks and technology 194 4 years 148 6 years Other — 2 14 years Total acquired finite-lived intangible assets $ 5,712 19 years $ 464 11 years |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Estimated full year amortization expense relating to intangible assets for each of the next five years ending December 31 is as follows: (in millions) 2016 $ 808 2017 772 2018 668 2019 612 2020 543 |
Medical Costs Payable (Tables)
Medical Costs Payable (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Medical Reserve Development [Abstract] | |
Schedule of Liability for Unpaid Claims and Claims Adjustment Expense [Table Text Block] | The following table shows the components of the change in medical costs payable for the years ended December 31: (in millions) 2015 2014 2013 Medical costs payable, beginning of period $ 12,040 $ 11,575 $ 11,004 Reported medical costs: Current year 104,195 94,053 90,339 Prior years (320 ) (420 ) (680 ) Total reported medical costs 103,875 93,633 89,659 Claim payments: Payments for current year (90,630 ) (82,750 ) (79,358 ) Payments for prior year (10,955 ) (10,418 ) (9,730 ) Total claim payments (101,585 ) (93,168 ) (89,088 ) Medical costs payable, end of period $ 14,330 $ 12,040 $ 11,575 |
Commercial Paper and Long-Ter33
Commercial Paper and Long-Term Debt (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Debt Instrument [Line Items] | |
Commercial Paper and Long-Term Debt [Table Text Block] | Commercial paper, term loan and senior unsecured long-term debt consisted of the following: December 31, 2015 December 31, 2014 (in millions, except percentages) Par Value Carrying Value Fair Value Par Value Carrying Value Fair Value Commercial paper $ 3,987 $ 3,987 $ 3,987 $ 321 $ 321 $ 321 Floating rate term loan due July 2016 (c) 1,500 1,500 1,500 — — — 4.875% notes due March 2015 (a) — — — 416 419 419 0.850% notes due October 2015 (a), (b) — — — 625 625 627 5.375% notes due March 2016 (a), (b) 601 605 606 601 623 634 1.875% notes due November 2016 (a), (b) 400 400 403 400 397 406 5.360% notes due November 2016 95 95 98 95 95 103 Floating rate notes due January 2017 (c) 750 750 751 — — — 6.000% notes due June 2017 (a), (b) 441 458 469 441 466 489 1.450% notes due July 2017 (c) 750 750 750 — — — 1.400% notes due October 2017 (a), (b) 625 625 624 625 616 624 6.000% notes due November 2017 (a), (b) 156 163 168 156 164 175 1.400% notes due December 2017 (a), (b) 750 753 748 750 745 749 6.000% notes due February 2018 (a), (b) 1,100 1,115 1,196 1,100 1,106 1,238 1.900% notes due July 2018 (c) 1,500 1,498 1,505 — — — 1.625% notes due March 2019 (a), (b) 500 503 494 500 496 493 2.300% notes due December 2019 (a) 500 501 502 500 496 502 2.700% notes due July 2020 (c) 1,500 1,499 1,516 — — — 3.875% notes due October 2020 (a) 450 454 476 450 450 477 4.700% notes due February 2021 (a) 400 414 438 400 413 450 3.375% notes due November 2021 (a) 500 501 517 500 496 519 2.875% notes due December 2021 (a) 750 756 760 750 748 759 2.875% notes due March 2022 (a) 1,100 1,061 1,099 1,100 1,042 1,104 3.350% notes due July 2022 (c) 1,000 999 1,023 — — — 0.000% notes due November 2022 15 10 11 15 10 11 2.750% notes due February 2023 (a) 625 614 613 625 604 613 2.875% notes due March 2023 (a) 750 784 742 750 777 745 3.750% notes due July 2025 (c) 2,000 1,995 2,062 — — — 4.625% notes due July 2035 (c) 1,000 1,000 1,038 — — — 5.800% notes due March 2036 850 845 1,003 850 845 1,052 6.500% notes due June 2037 500 495 628 500 495 670 6.625% notes due November 2037 650 646 829 650 646 888 6.875% notes due February 2038 1,100 1,085 1,439 1,100 1,085 1,544 5.700% notes due October 2040 300 298 348 300 298 378 5.950% notes due February 2041 350 348 416 350 348 455 4.625% notes due November 2041 600 593 609 600 593 646 4.375% notes due March 2042 502 486 493 502 486 536 3.950% notes due October 2042 625 612 582 625 611 621 4.250% notes due March 2043 750 740 728 750 740 786 4.750% notes due July 2045 (c) 2,000 1,992 2,107 — — — Total commercial paper, term loan and long-term debt $ 31,972 $ 31,930 $ 33,278 $ 17,347 $ 17,256 $ 19,034 (a) Fixed-rate debt instruments hedged with interest rate swap contracts. See below for more information on the Company’s interest rate swaps. (b) The Company terminated the interest rate swap contracts on these hedged instruments during the year ended December 31, 2015. See below for more information on this termination. (c) Debt issued to fund the Catamaran acquisition. For more detail on Catamaran, see Note 3 of Notes to the Consolidated Financial Statements. |
Schedule of Maturities of Long-term Debt [Table Text Block] | Maturities of commercial paper and long-term debt for the years ending December 31 are as follows: (in millions) 2016 $ 6,630 2017 3,491 2018 2,607 2019 1,024 2020 1,952 Thereafter 16,432 |
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location [Table Text Block] | The following table summarizes the location and fair value of the interest rate swap fair value hedges on the Company’s Consolidated Balance Sheet: Type of Fair Value Hedge Notional Amount Fair Value Balance Sheet Location (in billions) (in millions) December 31, 2015 Interest rate swap contracts $ 5.1 $ 93 Other assets 11 Other liabilities December 31, 2014 Interest rate swap contracts $ 10.7 $ 62 Other assets 55 Other liabilities |
Derivative Instruments, Gain (Loss) [Table Text Block] | The following table provides a summary of the effect of changes in fair value of fair value hedges on the Company’s Consolidated Statements of Operations: For the Years Ended December 31, (in millions) 2015 2014 2013 Hedge - interest rate swap gain (loss) recognized in interest expense $ 75 $ 170 $ (166 ) Hedged item - long-term debt (loss) gain recognized in interest expense (75 ) (170 ) 166 Net impact on the Company’s Consolidated Statements of Operations $ — $ — $ — |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Income Tax Contingency [Line Items] | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | The components of the provision for income taxes for the years ended December 31 are as follows: (in millions) 2015 2014 2013 Current Provision: Federal $ 4,155 $ 3,883 $ 3,004 State and local 281 271 237 Total current provision 4,436 4,154 3,241 Deferred (benefit) provision (73 ) (117 ) 1 Total provision for income taxes $ 4,363 $ 4,037 $ 3,242 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | The reconciliation of the tax provision at the U.S. federal statutory rate to the provision for income taxes and the effective tax rate for the years ended December 31 is as follows: (in millions, except percentages) 2015 2014 2013 Tax provision at the U.S. federal statutory rate $ 3,581 35.0 % $ 3,380 35.0 % $ 3,120 35.0 % Health insurance industry tax 627 6.1 469 4.8 — — State income taxes, net of federal benefit 145 1.4 154 1.6 126 1.4 Tax-exempt investment income (44 ) (0.4 ) (49 ) (0.5 ) (53 ) (0.6 ) Non-deductible compensation 103 1.0 96 1.0 39 0.5 Other, net (49 ) (0.5 ) (13 ) (0.1 ) 10 0.1 Provision for income taxes $ 4,363 42.6 % $ 4,037 41.8 % $ 3,242 36.4 % |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | Deferred income tax assets and liabilities are recognized for the differences between the financial and income tax reporting bases of assets and liabilities based on enacted tax rates and laws. The components of deferred income tax assets and liabilities as of December 31 are as follows: (in millions) 2015 2014 Deferred income tax assets: Accrued expenses and allowances $ 739 $ 313 U.S. federal and state net operating loss carryforwards 139 172 Share-based compensation 124 141 Nondeductible liabilities 205 222 Medical costs payable and other policy liabilities 71 120 Non-U.S. tax loss carryforwards 244 257 Unearned revenues 94 90 Unrecognized tax benefits 69 38 Other-domestic 51 36 Other-non-U.S. 130 141 Subtotal 1,866 1,530 Less: valuation allowances (44 ) (119 ) Total deferred income tax assets 1,822 1,411 Deferred income tax liabilities: U.S. federal and state intangible assets (2,951 ) (1,275 ) Non-U.S. goodwill and intangible assets (397 ) (496 ) Capitalized software (574 ) (506 ) Net unrealized gains on investments (34 ) (129 ) Depreciation and amortization (312 ) (272 ) Prepaid expenses (205 ) (140 ) Other-non-U.S. (76 ) (102 ) Total deferred income tax liabilities (4,549 ) (2,920 ) Net deferred income tax liabilities $ (2,727 ) $ (1,509 ) |
Summary of Positions for which Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Table Text Block] | A reconciliation of the beginning and ending amount of unrecognized tax benefits as of December 31 is as follows: (in millions) 2015 2014 2013 Gross unrecognized tax benefits, beginning of period $ 92 $ 89 $ 81 Gross increases: Current year tax positions — — 8 Prior year tax positions 55 4 5 Acquired reserves 89 — — Gross decreases: Prior year tax positions (2 ) — — Settlements (1 ) — — Statute of limitations lapses (9 ) (1 ) (5 ) Gross unrecognized tax benefits, end of period $ 224 $ 92 $ 89 |
Stockholders' Equity (Tables)
Stockholders' Equity (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Shareholders' Equity [Abstract] | |
Dividends Declared [Table Text Block] | The following table provides details of the Company’s dividend payments: Payment Date Amount per Share Total Amount Paid (in millions) 2015 $ 1.8750 $ 1,786 2014 1.4050 1,362 2013 1.0525 1,056 |
Share-Based Compensation (Table
Share-Based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock Option and SAR Activity [Table Text Block] | Stock option and SAR activity for the year ended December 31, 2015 is summarized in the table below: Shares Weighted- Average Exercise Price Weighted- Average Remaining Contractual Life Aggregate Intrinsic Value (in millions) (in years) (in millions) Outstanding at beginning of period 33 $ 53 Granted 9 110 Exercised (7 ) 53 Forfeited (1 ) 80 Outstanding at end of period 34 68 6.0 $ 1,666 Exercisable at end of period 16 47 3.4 1,133 Vested and expected to vest, end of period 33 67 5.9 1,646 |
Restricted Share Activity [Table Text Block] | Restricted share activity for the year ended December 31, 2015 is summarized in the table below: (shares in millions) Shares Weighted-Average Grant Date Fair Value per Share Nonvested at beginning of period 9 $ 61 Granted 3 110 Vested (5 ) 62 Nonvested at end of period 7 82 |
Other Share-Based Compensation Data [Table Text Block] | Other Share-Based Compensation Data (in millions, except per share amounts) For the Years Ended December 31, 2015 2014 2013 Stock Options and SARs Weighted-average grant date fair value of shares granted, per share $ 22 $ 22 $ 19 Total intrinsic value of stock options and SARs exercised 482 526 592 Restricted Shares Weighted-average grant date fair value of shares granted, per share 110 71 58 Total fair value of restricted shares vested $ 460 $ 437 $ 31 Employee Stock Purchase Plan Number of shares purchased 2 2 3 Share-Based Compensation Items Share-based compensation expense, before tax $ 406 $ 364 $ 331 Share-based compensation expense, net of tax effects 348 314 239 Income tax benefit realized from share-based award exercises 247 231 206 (in millions, except years) December 31, 2015 Unrecognized compensation expense related to share awards $ 469 Weighted-average years to recognize compensation expense 1.3 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | The principal assumptions the Company used in calculating grant-date fair value for stock options and SARs were as follows: For the Years Ended December 31, 2015 2014 2013 Risk-free interest rate 1.6% - 1.7% 1.7% - 1.8% 1.0% - 1.6% Expected volatility 22.3% - 24.1% 24.1% - 39.6% 41.0% - 43.0% Expected dividend yield 1.4% - 1.7% 1.6% - 1.9% 1.4% - 1.6% Forfeiture rate 5.0% 5.0% 5.0% Expected life in years 5.5 - 6.1 5.4 5.3 |
Commitments and Contingencies37
Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Operating Leased Assets [Line Items] | |
Operating Leases of Lessee Disclosure [Table Text Block] | As of December 31, 2015, future minimum annual lease payments, net of sublease income, under all non-cancelable operating leases were as follows: (in millions) Future Minimum Lease Payments 2016 $ 417 2017 370 2018 325 2019 267 2020 230 Thereafter 471 |
Segment Financial Information38
Segment Financial Information (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Segment Reporting [Abstract] | |
Segment Financial Information [Table Text Block] | The following table presents the reportable segment financial information: Optum (in millions) UnitedHealthcare OptumHealth OptumInsight OptumRx Optum Eliminations Optum Corporate and Eliminations Consolidated 2015 Revenues - external customers: Premiums $ 124,011 $ 3,152 $ — $ — $ — $ 3,152 $ — $ 127,163 Products 2 31 108 17,171 — 17,310 — 17,312 Services 6,776 2,375 2,390 381 — 5,146 — 11,922 Total revenues - external customers 130,789 5,558 2,498 17,552 — 25,608 — 156,397 Total revenues - intersegment — 8,216 3,697 30,718 (791 ) 41,840 (41,840 ) — Investment and other income 554 153 1 2 — 156 — 710 Total revenues $ 131,343 $ 13,927 $ 6,196 $ 48,272 $ (791 ) $ 67,604 $ (41,840 ) $ 157,107 Earnings from operations $ 6,754 $ 1,240 $ 1,278 $ 1,749 $ — $ 4,267 $ — $ 11,021 Interest expense — — — — — — (790 ) (790 ) Earnings before income taxes $ 6,754 $ 1,240 $ 1,278 $ 1,749 $ — $ 4,267 $ (790 ) $ 10,231 Total assets $ 64,212 $ 14,600 $ 8,335 $ 26,844 $ — $ 49,779 $ (2,608 ) $ 111,383 Purchases of property, equipment and capitalized software 653 252 572 79 — 903 — 1,556 Depreciation and amortization 718 251 492 232 — 975 — 1,693 2014 Revenues - external customers: Premiums $ 112,645 $ 2,657 $ — $ — $ — $ 2,657 $ — $ 115,302 Products 3 18 96 4,125 — 4,239 — 4,242 Services 6,516 1,300 2,224 111 — 3,635 — 10,151 Total revenues - external customers 119,164 3,975 2,320 4,236 — 10,531 — 129,695 Total revenues - intersegment — 6,913 2,906 27,740 (489 ) 37,070 (37,070 ) — Investment and other income 634 144 1 — — 145 — 779 Total revenues $ 119,798 $ 11,032 $ 5,227 $ 31,976 $ (489 ) $ 47,746 $ (37,070 ) $ 130,474 Earnings from operations $ 6,992 $ 1,090 $ 1,002 $ 1,190 $ — $ 3,282 $ — $ 10,274 Interest expense — — — — — — (618 ) (618 ) Earnings before income taxes $ 6,992 $ 1,090 $ 1,002 $ 1,190 $ — $ 3,282 $ (618 ) $ 9,656 Total assets $ 62,405 $ 11,148 $ 8,112 $ 5,474 $ — $ 24,734 $ (757 ) $ 86,382 Purchases of property, equipment and capitalized software 773 212 484 56 — 752 — 1,525 Depreciation and amortization 772 179 433 94 — 706 — 1,478 2013 Revenues - external customers: Premiums $ 107,024 $ 2,533 $ — $ — $ — $ 2,533 $ — $ 109,557 Products 8 19 92 3,071 — 3,182 — 3,190 Services 6,076 819 2,006 96 — 2,921 — 8,997 Total revenues - external customers 113,108 3,371 2,098 3,167 — 8,636 — 121,744 Total revenues - intersegment — 6,357 2,615 20,839 (458 ) 29,353 (29,353 ) — Investment and other income 617 127 1 — — 128 — 745 Total revenues $ 113,725 $ 9,855 $ 4,714 $ 24,006 $ (458 ) $ 38,117 $ (29,353 ) $ 122,489 Earnings from operations $ 7,132 $ 949 $ 831 $ 711 $ — $ 2,491 $ — $ 9,623 Interest expense — — — — — — (708 ) (708 ) Earnings before income taxes $ 7,132 $ 949 $ 831 $ 711 $ — $ 2,491 $ (708 ) $ 8,915 Total assets $ 61,942 $ 9,244 $ 6,880 $ 4,483 $ — $ 20,607 $ (667 ) $ 81,882 Purchases of property, equipment and capitalized software 670 185 363 89 — 637 — 1,307 Depreciation and amortization 766 158 359 92 — 609 — 1,375 |
Quarterly Financial Data (Una39
Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Schedule of Quarterly Financial Information [Table Text Block] | Selected quarterly financial information for all quarters of 2015 and 2014 is as follows: For the Quarter Ended (in millions, except per share data) March 31 June 30 September 30 December 31 2015 Revenues $ 35,756 $ 36,263 $ 41,489 $ 43,599 Operating costs 33,116 33,368 38,471 41,131 Earnings from operations 2,640 2,895 3,018 2,468 Net earnings 1,413 1,585 1,618 1,252 Net earnings attributable to UnitedHealth Group common stockholders 1,413 1,585 1,597 1,218 Net earnings per share attributable to UnitedHealth Group common stockholders: Basic 1.48 1.66 1.68 1.28 Diluted 1.46 1.64 1.65 1.26 2014 Revenues $ 31,708 $ 32,574 $ 32,759 $ 33,433 Operating costs 29,654 30,022 29,856 30,668 Earnings from operations 2,054 2,552 2,903 2,765 Net earnings 1,099 1,408 1,602 1,510 Net earnings attributable to UnitedHealth Group common stockholders 1,099 1,408 1,602 1,510 Net earnings per share attributable to UnitedHealth Group common stockholders: Basic 1.12 1.44 1.65 1.58 Diluted 1.10 1.42 1.63 1.55 |
Schedule I (Tables)
Schedule I (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Condensed Financial Statements, Captions [Line Items] | |
Schedule of Maturities of Long-term Debt [Table Text Block] | Maturities of commercial paper and long-term debt for the years ending December 31 are as follows: (in millions) 2016 $ 6,630 2017 3,491 2018 2,607 2019 1,024 2020 1,952 Thereafter 16,432 |
Parent Company [Member] | |
Condensed Financial Statements, Captions [Line Items] | |
Condensed Balance Sheet [Table Text Block] | Condensed Financial Information of Registrant (Parent Company Only) UnitedHealth Group Condensed Balance Sheets (in millions, except per share data) December 31, December 31, Assets Current assets: Cash and cash equivalents $ 29 $ 559 Short-term notes receivable from subsidiaries — 27 Deferred income taxes and other current assets 313 271 Total current assets 342 857 Equity in net assets of subsidiaries 56,316 44,643 Long-term notes receivable from subsidiaries 9,679 4,635 Other assets 328 278 Total assets $ 66,665 $ 50,413 Liabilities and stockholders’ equity Current liabilities: Accounts payable and accrued liabilities $ 449 $ 332 Note payable to subsidiary 310 215 Commercial paper and current maturities of long-term debt 6,587 1,365 Total current liabilities 7,346 1,912 Long-term debt, less current maturities 25,344 15,891 Deferred income taxes and other liabilities 145 156 Total liabilities 32,835 17,959 Commitments and contingencies (Note 5) Stockholders’ equity: Preferred stock, $0.001 par value -10 shares authorized; no shares issued or outstanding — — Common stock, $0.01 par value - 3,000 shares authorized; 953 and 954 issued and outstanding 10 10 Additional paid-in capital 29 — Retained earnings 37,125 33,836 Accumulated other comprehensive loss (3,334 ) (1,392 ) Total UnitedHealth Group stockholders’ equity 33,830 32,454 Total liabilities and stockholders’ equity $ 66,665 $ 50,413 |
Condensed Statement of Comprehensive Income [Table Text Block] | Condensed Financial Information of Registrant (Parent Company Only) UnitedHealth Group Condensed Statements of Comprehensive Income For the Years Ended December 31, (in millions) 2015 2014 2013 Revenues: Investment and other income $ 396 $ 293 $ 252 Total revenues 396 293 252 Operating costs: Operating costs (17 ) 1 (9 ) Interest expense 717 554 618 Total operating costs 700 555 609 Loss before income taxes (304 ) (262 ) (357 ) Benefit for income taxes 111 96 130 Loss of parent company (193 ) (166 ) (227 ) Equity in undistributed income of subsidiaries 6,006 5,785 5,852 Net earnings 5,813 5,619 5,625 Other comprehensive loss (1,942 ) (484 ) (1,346 ) Comprehensive income $ 3,871 $ 5,135 $ 4,279 |
Condensed Cash Flow Statement [Table Text Block] | Condensed Financial Information of Registrant (Parent Company Only) UnitedHealth Group Condensed Statements of Cash Flows For the Years Ended December 31, (in millions) 2015 2014 2013 Operating activities Cash flows from operating activities $ 1,727 $ 7,445 $ 5,099 Investing activities Issuance of notes to subsidiaries (5,064 ) (436 ) (1,517 ) Cash paid for acquisitions (12,270 ) (1,852 ) (274 ) Return of capital to parent company 4,375 — — Capital contributions to subsidiaries (1,109 ) (704 ) (942 ) Other, net 140 (9 ) 275 Cash flows used for investing activities (13,928 ) (3,001 ) (2,458 ) Financing activities Common stock repurchases (1,200 ) (4,008 ) (3,170 ) Proceeds from common stock issuances 402 462 598 Cash dividends paid (1,786 ) (1,362 ) (1,056 ) Proceeds from (repayments of) commercial paper, net 3,666 (794 ) (474 ) Proceeds from issuance of long-term debt 11,982 1,997 2,235 Repayments of long-term debt (1,041 ) (812 ) (943 ) Other, net (352 ) (190 ) (34 ) Cash flows from (used for) financing activities 11,671 (4,707 ) (2,844 ) Decrease in cash and cash equivalents (530 ) (263 ) (203 ) Cash and cash equivalents, beginning of period 559 822 1,025 Cash and cash equivalents, end of period $ 29 $ 559 $ 822 Supplemental cash flow disclosures Cash paid for interest $ 573 $ 578 $ 618 Cash paid for income taxes 4,294 4,028 2,765 |
Schedule of Maturities of Long-term Debt [Table Text Block] | 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 |
Basis of Presentation, Uses o41
Basis of Presentation, Uses of Estimates and Significant Accounting Policies (Details) - USD ($) $ in Millions | 1 Months Ended | 12 Months Ended | ||
Sep. 30, 2015 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Investment and other income | $ 710 | $ 779 | $ 745 | |
Accounts payable and accrued liabilities | 11,994 | 9,247 | ||
Accrued Salaries, Current | 1,500 | 1,500 | ||
Other current receivables | $ 6,801 | 5,498 | ||
Number Of Days Notice Required To Cancel Health Insurance Contract | 30 | |||
Goodwill and Intangible Asset Impairment | $ 0 | |||
Health Insurance Industry Tax [Member] | ||||
Liability paid | $ 1,800 | |||
Deferred Costs, Current | 0 | 0 | ||
Accrued Liabilities, Current | 0 | 0 | ||
Checks Outstanding [Member] | ||||
Accounts payable and accrued liabilities | 1,600 | 1,400 | ||
RSF Assets Under Management AARP [Member] | ||||
Rate Stabilization Fund | $ 1,600 | 1,500 | ||
Restricted Stock [Member] | Minimum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 2 years | |||
Restricted Stock [Member] | Maximum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 5 years | |||
Stock Options and SARs [Member] [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Plan Award, Options, Award Exercisable Period | 10 years | |||
Stock Options and SARs [Member] [Member] | Minimum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years | |||
Stock Options and SARs [Member] [Member] | Maximum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 6 years | |||
Employee Stock Purchase Plan (ESPP) [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Discount from Market Price, Offering Date | 85.00% | |||
Medical Costs [Member] | ||||
Prior Period Reclassification Adjustment | 376 | 369 | ||
Operating Costs [Member] | ||||
Prior Period Reclassification Adjustment | (418) | (421) | ||
Costs of Products Sold | ||||
Prior Period Reclassification Adjustment | 42 | $ 52 | ||
Pharmaceutical Manufacturer Rebates Receivable [Member] | ||||
Other current receivables | $ 2,600 | $ 1,500 |
Basis of Presentation, Uses o42
Basis of Presentation, Uses of Estimates and Significant Accounting Policies Medicare Part D (Details) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Other current receivables | $ 6,801 | $ 5,498 |
Other policy liabilities | 7,798 | 5,965 |
CMS Subsidies [Member] | ||
Other current receivables | 1,703 | 1,801 |
Other policy liabilities | 0 | 0 |
Drug Discount [Member] | ||
Other current receivables | 423 | 719 |
Other policy liabilities | 58 | 302 |
Risk-Share [Member] | ||
Other current receivables | 0 | 20 |
Other policy liabilities | $ 496 | $ 0 |
Basis of Presentation, Uses o43
Basis of Presentation, Uses of Estimates and Significant Accounting Policies Useful lives for property, equipment and capitalized software (Details) | 12 Months Ended |
Dec. 31, 2015 | |
Furniture, Fixtures and equipment [Member] | Minimum [Member] | |
Property, Plant and Equipment [Line Items] | |
Useful Life | 3 years |
Furniture, Fixtures and equipment [Member] | Maximum [Member] | |
Property, Plant and Equipment [Line Items] | |
Useful Life | 7 years |
Buildings [Member] | Minimum [Member] | |
Property, Plant and Equipment [Line Items] | |
Useful Life | 35 years |
Buildings [Member] | Maximum [Member] | |
Property, Plant and Equipment [Line Items] | |
Useful Life | 40 years |
Capitalized software [Member] | Minimum [Member] | |
Property, Plant and Equipment [Line Items] | |
Useful Life | 3 years |
Capitalized software [Member] | Maximum [Member] | |
Property, Plant and Equipment [Line Items] | |
Useful Life | 5 years |
Basis of Presentation, Uses o44
Basis of Presentation, Uses of Estimates and Significant Accounting Policies Redeemable Noncontrolling Interests (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Noncontrolling Interest [Line Items] | |||
Redeemable noncontrolling interest, beginning of period | $ 1,388 | ||
Acquisitions | 9 | ||
Redemptions | $ 81 | ||
Distributions | (140) | ||
Fair value and other adjustments | (225) | ||
Redeemable Noncontrolling Interest, end of period | 1,736 | $ 1,388 | |
Redeemable Noncontrolling Interests [Member] | |||
Noncontrolling Interest [Line Items] | |||
Redeemable noncontrolling interest, beginning of period | 1,388 | 1,175 | |
Net earnings | 29 | 0 | |
Acquisitions | 196 | 203 | |
Redemptions | (116) | 0 | |
Distributions | (19) | (40) | |
Fair value and other adjustments | 258 | 50 | |
Redeemable Noncontrolling Interest, end of period | $ 1,736 | $ 1,388 | $ 1,175 |
Basis of Presentation, Uses o45
Basis of Presentation, Uses of Estimates and Significant Accounting Policies Future Policy Benefits and Reinsurance Receivables (Details) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Other Receivables, Current, Net [Member] | ||
Effects of Reinsurance [Line Items] | ||
Reinsurance receivables | $ 133 | $ 127 |
Other Noncurrent Assets [Member] | ||
Effects of Reinsurance [Line Items] | ||
Reinsurance receivables | 1,610 | 1,669 |
Other policy liabilities [Member] | ||
Effects of Reinsurance [Line Items] | ||
Reinsurance payables | 133 | 127 |
Future Policy Benefits [Member] | ||
Effects of Reinsurance [Line Items] | ||
Reinsurance payables | $ 1,610 | $ 1,669 |
Business Combination (Details)
Business Combination (Details) People in Millions, $ in Millions | Jul. 23, 2015USD ($)People | Dec. 31, 2015USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Dec. 31, 2013USD ($) |
Business Acquisition [Line Items] | |||||
Debt Instrument, Face Amount | $ 31,972 | $ 31,972 | $ 17,347 | ||
Goodwill | 44,453 | 44,453 | 32,940 | $ 31,604 | |
Catamaran [Member] | |||||
Business Acquisition [Line Items] | |||||
Payments to Acquire Businesses, Gross | $ 14,300 | ||||
People Served | People | 35 | ||||
Business Acquisition, Goodwill, Expected Tax Deductible Amount | $ 0 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles and Goodwill | 15,600 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 5,400 | ||||
Goodwill | 10,200 | ||||
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual | 12,400 | ||||
Business Acquisition, Pro Forma Revenue | 172,000 | 152,000 | |||
Unsecured Debt [Member] | Catamaran [Member] | |||||
Business Acquisition [Line Items] | |||||
Debt Instrument, Face Amount | 10,500 | ||||
Commercial Paper [Member] | |||||
Business Acquisition [Line Items] | |||||
Debt Instrument, Face Amount | $ 3,987 | $ 3,987 | $ 321 | ||
Commercial Paper [Member] | Catamaran [Member] | |||||
Business Acquisition [Line Items] | |||||
Debt Instrument, Face Amount | 2,400 | ||||
Delayed Draw Term Loan [Member] | Catamaran [Member] | |||||
Business Acquisition [Line Items] | |||||
Debt Instrument, Face Amount | $ 1,500 |
Business Combination Acquired A
Business Combination Acquired Assets and Liabilities (Details) - Catamaran [Member] $ in Millions | Jul. 23, 2015USD ($) |
Business Acquisition [Line Items] | |
Cash and Cash Equivalents | $ 299 |
Accounts Receivable and Other Current Assets | 2,005 |
Rebates Receivable | 602 |
Property, Equipment, and Other Long-Term Assets | 215 |
Accounts Payable and Other Current Liabilities | (2,525) |
Deferred Income Taxes and Other Long-Term Liabilities | (1,923) |
Total Net Tangible Liabilities | $ (1,327) |
Business Combination Acquired f
Business Combination Acquired finite-lived intangible assets (Details) - USD ($) $ in Millions | Jul. 23, 2015 | Dec. 31, 2015 | Dec. 31, 2014 |
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Finite-lived Intangible Assets Acquired | $ 5,712 | $ 464 | |
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 19 years | 11 years | |
Catamaran [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Finite-lived Intangible Assets Acquired | $ 5,437 | ||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 19 years | ||
Customer-Related Intangible Assets [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Finite-lived Intangible Assets Acquired | $ 5,518 | $ 314 | |
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 19 years | 14 years | |
Customer-Related Intangible Assets [Member] | Catamaran [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Finite-lived Intangible Assets Acquired | $ 5,278 | ||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 19 years | ||
Trademarks and Technology [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Finite-lived Intangible Assets Acquired | $ 194 | $ 148 | |
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 4 years | 6 years | |
Trademarks and Technology [Member] | Catamaran [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Finite-lived Intangible Assets Acquired | $ 159 | ||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 4 years |
Investments (Narrative) (Detail
Investments (Narrative) (Details) | Dec. 31, 2015positions |
Investment [Line Items] | |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 11,000 |
Total number of security positions | 24,000 |
Investments (Short-Term and Lon
Investments (Short-Term and Long-Term Investments) (Details) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Schedule of Investments [Line Items] | ||
Available-for-sale Debt Securities, Amortized Cost Basis | $ 18,539 | $ 18,205 |
Securities, Available for sale Debt Securities, Gross Unrealized Gains | 209 | 387 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax | (117) | (41) |
Available-for-sale Securities, Debt Securities | 18,631 | 18,551 |
Available-for-sale Equity Securities, Amortized Cost Basis | 1,638 | 1,511 |
Securities, Available for sale Equity Securities, Gross Unrealized Gains | 58 | 36 |
Securities, Available for sale Equity Securities, Gross Unrealized Losses | (57) | (25) |
Available-for-sale Securities, Equity Securities | 1,639 | 1,522 |
Held-to-maturity securities, Amortized Cost | 510 | 495 |
Securities, Held to maturity, Unrecognized Holding Gain | 1 | 2 |
Held-to-maturity Securities, Accumulated Unrecognized Holding Loss | 0 | 0 |
Held-to-maturity Securities, Fair Value | 511 | 497 |
Total investments, Amortized Cost | 20,687 | 20,211 |
Total investments, Gross Unrealized Gains | 268 | 425 |
Total investments, Gross Unrealized Losses | (174) | (66) |
Investments, Fair Value Disclosure | 20,781 | 20,570 |
Debt Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Available-for-sale Securities, Debt Securities | 18,631 | 18,551 |
U.S. Government and Agency Obligations [Member] | ||
Schedule of Investments [Line Items] | ||
Available-for-sale Debt Securities, Amortized Cost Basis | 1,982 | 1,614 |
Securities, Available for sale Debt Securities, Gross Unrealized Gains | 1 | 7 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax | (6) | (1) |
Available-for-sale Securities, Debt Securities | 1,977 | 1,620 |
Held-to-maturity securities, Amortized Cost | 163 | 178 |
Securities, Held to maturity, Unrecognized Holding Gain | 1 | 2 |
Held-to-maturity Securities, Accumulated Unrecognized Holding Loss | 0 | 0 |
Held-to-maturity Securities, Fair Value | 164 | 180 |
State and Municipal Obligations [Member] | ||
Schedule of Investments [Line Items] | ||
Available-for-sale Debt Securities, Amortized Cost Basis | 6,022 | 6,456 |
Securities, Available for sale Debt Securities, Gross Unrealized Gains | 149 | 217 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax | (3) | (5) |
Available-for-sale Securities, Debt Securities | 6,168 | 6,668 |
Held-to-maturity securities, Amortized Cost | 8 | 19 |
Securities, Held to maturity, Unrecognized Holding Gain | 0 | 0 |
Held-to-maturity Securities, Accumulated Unrecognized Holding Loss | 0 | 0 |
Held-to-maturity Securities, Fair Value | 8 | 19 |
Corporate Obligations [Member] | ||
Schedule of Investments [Line Items] | ||
Available-for-sale Debt Securities, Amortized Cost Basis | 7,446 | 7,241 |
Securities, Available for sale Debt Securities, Gross Unrealized Gains | 41 | 112 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax | (81) | (26) |
Available-for-sale Securities, Debt Securities | 7,406 | 7,327 |
Held-to-maturity securities, Amortized Cost | 339 | 298 |
Securities, Held to maturity, Unrecognized Holding Gain | 0 | 0 |
Held-to-maturity Securities, Accumulated Unrecognized Holding Loss | 0 | 0 |
Held-to-maturity Securities, Fair Value | 339 | 298 |
U.S. Agency Mortgage-Backed Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Available-for-sale Debt Securities, Amortized Cost Basis | 2,127 | 2,022 |
Securities, Available for sale Debt Securities, Gross Unrealized Gains | 13 | 39 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax | (16) | (5) |
Available-for-sale Securities, Debt Securities | 2,124 | 2,056 |
Held-to-maturity securities, Amortized Cost | 0 | |
Held-to-maturity Securities, Fair Value | 0 | |
Non-U.S. Agency Mortgage-Backed Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Available-for-sale Debt Securities, Amortized Cost Basis | 962 | 872 |
Securities, Available for sale Debt Securities, Gross Unrealized Gains | 5 | 12 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax | (11) | (4) |
Available-for-sale Securities, Debt Securities | 956 | $ 880 |
Held-to-maturity securities, Amortized Cost | 0 | |
Held-to-maturity Securities, Fair Value | $ 0 |
Investments (Amortized Cost and
Investments (Amortized Cost and Fair Value of Available-for-Sale Debt Securities by Contractual Maturity) (Details) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Schedule of Investments [Line Items] | ||
Due in one year or less, Amortized Cost | $ 2,103 | |
Due after one year through five years, Amortized Cost | 6,830 | |
Due after five years through ten years, Amortized Cost | 4,752 | |
Due after ten years, Amortized Cost | 1,765 | |
Total debt securities - available-for-sale, Amortized Cost | 18,539 | $ 18,205 |
Due in one year or less, Fair Value | 2,105 | |
Due after one year through five years, Fair Value | 6,843 | |
Due after five years through ten years, Fair Value | 4,793 | |
Due after ten years, Fair Value | 1,810 | |
Available-for-sale Securities, Debt Securities | 18,631 | 18,551 |
Held-to-maturity Securities, Debt Maturities, within One Year, Net Carrying Amount | 121 | |
Held-to-maturity Securities, Debt Maturities, Next Twelve Months, Fair Value | 121 | |
Held-to-maturity Securities, Debt Maturities, after One Through Five Years, Net Carrying Amount | 188 | |
Held-to-maturity Securities, Debt Maturities, Year Two Through Five, Fair Value | 188 | |
Held-to-maturity Securities, Debt Maturities, after Five Through Ten Years, Net Carrying Amount | 118 | |
Held-to-maturity Securities, Debt Maturities, Year Six Through Ten, Fair Value | 118 | |
Held-to-maturity Securities, Debt Maturities, after Ten Years, Net Carrying Amount | 83 | |
Held-to-maturity Securities, Debt Maturities, after Ten Years, Fair Value | 84 | |
Held-to-maturity Securities | 510 | 495 |
Held-to-maturity Securities, Fair Value | 511 | 497 |
U.S. Agency Mortgage-Backed Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Mortgage-backed securities, Amortized Cost | 2,127 | |
Total debt securities - available-for-sale, Amortized Cost | 2,127 | 2,022 |
Available-for-sale Securities, Debt Securities | 2,124 | 2,056 |
Mortgage-backed securities, Fair Value | 2,124 | |
Held-to-maturity Securities | 0 | |
Held-to-maturity Securities, Fair Value | 0 | |
Non-U.S. Agency Mortgage-Backed Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Mortgage-backed securities, Amortized Cost | 962 | |
Total debt securities - available-for-sale, Amortized Cost | 962 | 872 |
Available-for-sale Securities, Debt Securities | 956 | $ 880 |
Mortgage-backed securities, Fair Value | 956 | |
Held-to-maturity Securities | 0 | |
Held-to-maturity Securities, Fair Value | $ 0 |
Investments (Fair Value of Avai
Investments (Fair Value of Available-For-Sale Investments with Gross Unrealized Losses by Investment Type and Length of Time That Individual Securities Have Been in a Continuous Unrealized Loss Position) (Details) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Debt Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Less Than 12 Months, Fair Value | $ 8,649 | $ 3,980 |
Less Than 12 Months, Gross Unrealized Losses | (91) | (24) |
Greater Than 12 Months, Fair Value | 582 | 949 |
Greater Than 12 Months, Gross Unrealized Losses | (26) | (17) |
Total, Fair Value | 9,231 | 4,929 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (117) | (41) |
U.S. Government and Agency Obligations [Member] | ||
Schedule of Investments [Line Items] | ||
Less Than 12 Months, Fair Value | 1,473 | 420 |
Less Than 12 Months, Gross Unrealized Losses | (6) | (1) |
Total, Fair Value | 1,473 | 420 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (6) | (1) |
State and Municipal Obligations [Member] | ||
Schedule of Investments [Line Items] | ||
Less Than 12 Months, Fair Value | 650 | 711 |
Less Than 12 Months, Gross Unrealized Losses | (3) | (4) |
Greater Than 12 Months, Fair Value | 99 | |
Greater Than 12 Months, Gross Unrealized Losses | (1) | |
Total, Fair Value | 650 | 810 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (3) | (5) |
Corporate Obligations [Member] | ||
Schedule of Investments [Line Items] | ||
Less Than 12 Months, Fair Value | 4,629 | 2,595 |
Less Than 12 Months, Gross Unrealized Losses | (63) | (17) |
Greater Than 12 Months, Fair Value | 339 | 464 |
Greater Than 12 Months, Gross Unrealized Losses | (18) | (9) |
Total, Fair Value | 4,968 | 3,059 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (81) | (26) |
U.S. Agency Mortgage-Backed Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Less Than 12 Months, Fair Value | 1,304 | |
Less Than 12 Months, Gross Unrealized Losses | (12) | |
Greater Than 12 Months, Fair Value | 116 | 272 |
Greater Than 12 Months, Gross Unrealized Losses | (4) | (5) |
Total, Fair Value | 1,420 | 272 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (16) | (5) |
Non-U.S. Agency Mortgage-Backed Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Less Than 12 Months, Fair Value | 593 | 254 |
Less Than 12 Months, Gross Unrealized Losses | (7) | (2) |
Greater Than 12 Months, Fair Value | 127 | 114 |
Greater Than 12 Months, Gross Unrealized Losses | (4) | (2) |
Total, Fair Value | 720 | 368 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (11) | (4) |
Equity Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Less Than 12 Months, Fair Value | 112 | 107 |
Less Than 12 Months, Gross Unrealized Losses | (11) | (6) |
Greater Than 12 Months, Fair Value | 89 | 88 |
Greater Than 12 Months, Gross Unrealized Losses | (46) | (19) |
Total, Fair Value | 201 | 195 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | $ (57) | $ (25) |
Investments (Net Realized Gains
Investments (Net Realized Gains) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Schedule of Available-for-sale Securities [Line Items] | |||
Income tax effect (included in Provision for Income Taxes on the Consolidated Statements of Operations) | $ (4,363) | $ (4,037) | $ (3,242) |
Reclassification out of Accumulated Other Comprehensive Income [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Total OTTI | (22) | (26) | (8) |
Portion of loss recognized in other comprehensive income | 0 | 0 | 0 |
Net OTTI recognized in earnings | (22) | (26) | (8) |
Gross realized losses from sales | (28) | (47) | (9) |
Gross realized gains from sales | 191 | 284 | 198 |
Net realized gains (included in investment and other income on the Consolidated Statements of Operations) | 141 | 211 | 181 |
Income tax effect (included in Provision for Income Taxes on the Consolidated Statements of Operations) | (53) | (77) | (66) |
Realized gains, net of taxes | $ 88 | $ 134 | $ 115 |
Fair Value (Narrative) (Details
Fair Value (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Fair Value [Line Items] | ||
Transfers from level 1 to level 2-Assets | $ 0 | $ 0 |
Transfers from level 1 to level 2-Liabilities | 0 | 0 |
Transfer from level 2 to level 1-Assets | 0 | 0 |
Transfer from level 2 to level 1-Liabilities | 0 | 0 |
Transfers Into Level 3 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value [Line Items] | ||
Significant fair value adjustments for assets and liabilities measured on a nonrecurring basis | 0 | $ 0 |
Fair Value, Measurements, Recurring [Member] | Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value [Line Items] | ||
Available-for-sale Securities | $ 98 |
Fair Value (Financial Assets an
Fair Value (Financial Assets and Liabilities, Excluding AARP, Measured at Fair Value on a Recurring Basis) (Details) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and cash equivalents | $ 10,923,000,000 | $ 7,495,000,000 |
Available-for-sale Securities, Debt Securities | 18,631,000,000 | 18,551,000,000 |
Available-for-sale Securities, Equity Securities | 1,639,000,000 | 1,522,000,000 |
Interest rate swap assets | 93,000,000 | 62,000,000 |
Total assets at fair value | $ 31,286,000,000 | $ 27,630,000,000 |
Percentage of total assets at fair value | 100.00% | 100.00% |
Interest rate swap liabilities | $ 11,000,000 | $ 55,000,000 |
Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 18,631,000,000 | 18,551,000,000 |
U.S. Government and Agency Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 1,977,000,000 | 1,620,000,000 |
State and Municipal Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 6,168,000,000 | 6,668,000,000 |
Corporate Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 7,406,000,000 | 7,327,000,000 |
U.S. Agency Mortgage-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 2,124,000,000 | 2,056,000,000 |
Non-U.S. Agency Mortgage-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 956,000,000 | 880,000,000 |
Quoted Prices in Active Markets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and cash equivalents | 10,906,000,000 | 7,472,000,000 |
Available-for-sale Securities, Equity Securities | 1,223,000,000 | 1,200,000,000 |
Interest rate swap assets | 0 | 0 |
Total assets at fair value | $ 13,913,000,000 | $ 10,101,000,000 |
Percentage of total assets at fair value | 44.00% | 37.00% |
Interest rate swap liabilities | $ 0 | $ 0 |
Quoted Prices in Active Markets (Level 1) [Member] | Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 1,784,000,000 | 1,429,000,000 |
Quoted Prices in Active Markets (Level 1) [Member] | U.S. Government and Agency Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 1,779,000,000 | 1,427,000,000 |
Quoted Prices in Active Markets (Level 1) [Member] | State and Municipal Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 0 | 0 |
Quoted Prices in Active Markets (Level 1) [Member] | Corporate Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 5,000,000 | 2,000,000 |
Quoted Prices in Active Markets (Level 1) [Member] | U.S. Agency Mortgage-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 0 | 0 |
Quoted Prices in Active Markets (Level 1) [Member] | Non-U.S. Agency Mortgage-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 0 | 0 |
Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and cash equivalents | 17,000,000 | 23,000,000 |
Available-for-sale Securities, Equity Securities | 14,000,000 | 12,000,000 |
Interest rate swap assets | 93,000,000 | 62,000,000 |
Total assets at fair value | $ 16,873,000,000 | $ 17,145,000,000 |
Percentage of total assets at fair value | 54.00% | 62.00% |
Interest rate swap liabilities | $ 11,000,000 | $ 55,000,000 |
Other Observable Inputs (Level 2) [Member] | Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 16,749,000,000 | 17,048,000,000 |
Other Observable Inputs (Level 2) [Member] | U.S. Government and Agency Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 198,000,000 | 193,000,000 |
Other Observable Inputs (Level 2) [Member] | State and Municipal Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 6,168,000,000 | 6,668,000,000 |
Other Observable Inputs (Level 2) [Member] | Corporate Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 7,308,000,000 | 7,257,000,000 |
Other Observable Inputs (Level 2) [Member] | U.S. Agency Mortgage-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 2,124,000,000 | 2,056,000,000 |
Other Observable Inputs (Level 2) [Member] | Non-U.S. Agency Mortgage-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 951,000,000 | 874,000,000 |
Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and cash equivalents | 0 | 0 |
Available-for-sale Securities, Equity Securities | 402,000,000 | 310,000,000 |
Interest rate swap assets | 0 | 0 |
Total assets at fair value | $ 500,000,000 | $ 384,000,000 |
Percentage of total assets at fair value | 2.00% | 1.00% |
Interest rate swap liabilities | $ 0 | $ 0 |
Unobservable Inputs (Level 3) [Member] | Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 98,000,000 | 74,000,000 |
Unobservable Inputs (Level 3) [Member] | U.S. Government and Agency Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 0 | 0 |
Unobservable Inputs (Level 3) [Member] | State and Municipal Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 0 | 0 |
Unobservable Inputs (Level 3) [Member] | Corporate Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 93,000,000 | 68,000,000 |
Unobservable Inputs (Level 3) [Member] | U.S. Agency Mortgage-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 0 | 0 |
Unobservable Inputs (Level 3) [Member] | Non-U.S. Agency Mortgage-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | $ 5,000,000 | $ 6,000,000 |
Fair Value (Financial Assets 56
Fair Value (Financial Assets and Liabilities, Excluding AARP, Not Measured at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities - held-to-maturity | $ 510 | $ 495 |
Held-to-maturity Securities, Fair Value | 511 | 497 |
Carrying Value | 31,930 | 17,256 |
Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Held-to-maturity Securities, Fair Value | 511 | 497 |
Fair Value, Measurements, Nonrecurring [Member] | Quoted Prices in Active Markets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Held-to-maturity Securities, Fair Value | 255 | 226 |
Fair Value, Measurements, Nonrecurring [Member] | Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Held-to-maturity Securities, Fair Value | 10 | 10 |
Fair Value, Measurements, Nonrecurring [Member] | Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Held-to-maturity Securities, Fair Value | 246 | 261 |
U.S. Government and Agency Obligations [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Held-to-maturity Securities, Fair Value | 164 | 180 |
U.S. Government and Agency Obligations [Member] | Fair Value, Measurements, Nonrecurring [Member] | Quoted Prices in Active Markets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Held-to-maturity Securities, Fair Value | 164 | 180 |
U.S. Government and Agency Obligations [Member] | Fair Value, Measurements, Nonrecurring [Member] | Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Held-to-maturity Securities, Fair Value | 0 | 0 |
U.S. Government and Agency Obligations [Member] | Fair Value, Measurements, Nonrecurring [Member] | Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Held-to-maturity Securities, Fair Value | 0 | 0 |
State and Municipal Obligations [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Held-to-maturity Securities, Fair Value | 8 | 19 |
State and Municipal Obligations [Member] | Fair Value, Measurements, Nonrecurring [Member] | Quoted Prices in Active Markets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Held-to-maturity Securities, Fair Value | 0 | 0 |
State and Municipal Obligations [Member] | Fair Value, Measurements, Nonrecurring [Member] | Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Held-to-maturity Securities, Fair Value | 0 | 0 |
State and Municipal Obligations [Member] | Fair Value, Measurements, Nonrecurring [Member] | Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Held-to-maturity Securities, Fair Value | 8 | 19 |
Corporate Obligations [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Held-to-maturity Securities, Fair Value | 339 | 298 |
Corporate Obligations [Member] | Fair Value, Measurements, Nonrecurring [Member] | Quoted Prices in Active Markets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Held-to-maturity Securities, Fair Value | 91 | 46 |
Corporate Obligations [Member] | Fair Value, Measurements, Nonrecurring [Member] | Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Held-to-maturity Securities, Fair Value | 10 | 10 |
Corporate Obligations [Member] | Fair Value, Measurements, Nonrecurring [Member] | Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Held-to-maturity Securities, Fair Value | 238 | 242 |
Long-term debt and other financing obligations | Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Instrument, Fair Value Disclosure | 29,455 | 18,863 |
Long-term debt and other financing obligations | Fair Value, Measurements, Nonrecurring [Member] | Quoted Prices in Active Markets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Instrument, Fair Value Disclosure | 0 | 0 |
Long-term debt and other financing obligations | Fair Value, Measurements, Nonrecurring [Member] | Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Instrument, Fair Value Disclosure | 29,455 | 18,863 |
Long-term debt and other financing obligations | Fair Value, Measurements, Nonrecurring [Member] | Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Instrument, Fair Value Disclosure | 0 | 0 |
Other Assets [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other Assets, Fair Value Disclosure | 493 | 478 |
Other Assets [Member] | Fair Value, Measurements, Nonrecurring [Member] | Quoted Prices in Active Markets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other Assets, Fair Value Disclosure | 0 | 0 |
Other Assets [Member] | Fair Value, Measurements, Nonrecurring [Member] | Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other Assets, Fair Value Disclosure | 493 | 478 |
Other Assets [Member] | Fair Value, Measurements, Nonrecurring [Member] | Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other Assets, Fair Value Disclosure | 0 | 0 |
Reported Value Measurement [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities - held-to-maturity | 510 | 495 |
Reported Value Measurement [Member] | U.S. Government and Agency Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities - held-to-maturity | 163 | 178 |
Reported Value Measurement [Member] | State and Municipal Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities - held-to-maturity | 8 | 19 |
Reported Value Measurement [Member] | Corporate Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities - held-to-maturity | 339 | 298 |
Reported Value Measurement [Member] | Long-term debt and other financing obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Carrying Value | 28,107 | 17,085 |
Reported Value Measurement [Member] | Other Assets [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other Assets, Fair Value Disclosure | $ 500 | $ 484 |
Fair Value (Reconciliation of A
Fair Value (Reconciliation of Assets Measured at Fair Value on a Recurring Basis Using Level 3 Inputs) (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||
Balance at beginning of period | $ 384 | $ 311 | $ 241 |
Purchases | 133 | 137 | 109 |
Sales | (28) | (181) | (35) |
Net unrealized gains (losses) in accumulated other comprehensive income | 7 | 7 | (9) |
Net realized gains (losses) in investment and other income | 4 | 110 | 5 |
Balance at end of period | 500 | 384 | 311 |
Debt Securities [Member] | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||
Balance at beginning of period | 74 | 42 | 17 |
Purchases | 27 | 32 | 38 |
Sales | (4) | (1) | (10) |
Net unrealized gains (losses) in accumulated other comprehensive income | 2 | 1 | (2) |
Net realized gains (losses) in investment and other income | (1) | 0 | (1) |
Balance at end of period | 98 | 74 | 42 |
Equity Securities [Member] | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||
Balance at beginning of period | 310 | 269 | 224 |
Purchases | 106 | 105 | 71 |
Sales | (24) | (180) | (25) |
Net unrealized gains (losses) in accumulated other comprehensive income | 5 | 6 | (7) |
Net realized gains (losses) in investment and other income | 5 | 110 | 6 |
Balance at end of period | $ 402 | $ 310 | $ 269 |
Fair Value Fair Value Inputs As
Fair Value Fair Value Inputs Assets Quantitative Information (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2015USD ($) | |
Venture Capital Funds [Member] | Market Approach Valuation Technique [Member] | Comparable Companies [Member] | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |
Available-for-sale Securities | $ 358 |
Venture Capital Funds [Member] | Market Approach Valuation Technique [Member] | Recent Transactions [Member] | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |
Available-for-sale Securities | $ 44 |
Minimum [Member] | Comparable Companies [Member] | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |
Fair Value Inputs, Revenue Multiple | 1 |
Fair Value Inputs, Earnings before Interest, Taxes, Depreciation, and Amortization Multiple | 9 |
Maximum [Member] | Comparable Companies [Member] | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |
Fair Value Inputs, Revenue Multiple | 5 |
Fair Value Inputs, Earnings before Interest, Taxes, Depreciation, and Amortization Multiple | 10 |
Unobservable Inputs (Level 3) [Member] | Equity Securities [Member] | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |
Available-for-sale Securities | $ 402 |
Fair Value (Assets and Liabilit
Fair Value (Assets and Liabilities measured at fair value on a recurring basis) (Details) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and cash equivalents | $ 10,923 | $ 7,495 |
Available-for-sale Securities, Debt Securities | 18,631 | 18,551 |
Available-for-sale Securities, Equity Securities | 1,639 | 1,522 |
Total assets at fair value | 31,286 | 27,630 |
Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 18,631 | 18,551 |
U.S. Government and Agency Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 1,977 | 1,620 |
State and Municipal Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 6,168 | 6,668 |
Corporate Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 7,406 | 7,327 |
U.S. Agency Mortgage-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 2,124 | 2,056 |
Non-U.S. Agency Mortgage-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 956 | 880 |
Quoted Prices in Active Markets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and cash equivalents | 10,906 | 7,472 |
Available-for-sale Securities, Equity Securities | 1,223 | 1,200 |
Total assets at fair value | 13,913 | 10,101 |
Quoted Prices in Active Markets (Level 1) [Member] | Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 1,784 | 1,429 |
Quoted Prices in Active Markets (Level 1) [Member] | U.S. Government and Agency Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 1,779 | 1,427 |
Quoted Prices in Active Markets (Level 1) [Member] | State and Municipal Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 0 | 0 |
Quoted Prices in Active Markets (Level 1) [Member] | Corporate Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 5 | 2 |
Quoted Prices in Active Markets (Level 1) [Member] | U.S. Agency Mortgage-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 0 | 0 |
Quoted Prices in Active Markets (Level 1) [Member] | Non-U.S. Agency Mortgage-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 0 | 0 |
Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and cash equivalents | 17 | 23 |
Available-for-sale Securities, Equity Securities | 14 | 12 |
Total assets at fair value | 16,873 | 17,145 |
Other Observable Inputs (Level 2) [Member] | Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 16,749 | 17,048 |
Other Observable Inputs (Level 2) [Member] | U.S. Government and Agency Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 198 | 193 |
Other Observable Inputs (Level 2) [Member] | State and Municipal Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 6,168 | 6,668 |
Other Observable Inputs (Level 2) [Member] | Corporate Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 7,308 | 7,257 |
Other Observable Inputs (Level 2) [Member] | U.S. Agency Mortgage-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 2,124 | 2,056 |
Other Observable Inputs (Level 2) [Member] | Non-U.S. Agency Mortgage-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 951 | 874 |
Fair Value, Measurements, Recurring [Member] | AARP Program [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and cash equivalents | 274 | 415 |
Other Investments | 162 | |
Available-for-sale Securities, Equity Securities | 81 | |
Total assets at fair value | 2,998 | 2,962 |
Other liabilities | 18 | |
Fair Value, Measurements, Recurring [Member] | Debt Securities [Member] | AARP Program [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 2,562 | 2,466 |
Fair Value, Measurements, Recurring [Member] | U.S. Government and Agency Obligations [Member] | AARP Program [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 622 | 654 |
Fair Value, Measurements, Recurring [Member] | State and Municipal Obligations [Member] | AARP Program [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 103 | 95 |
Fair Value, Measurements, Recurring [Member] | Corporate Obligations [Member] | AARP Program [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 1,244 | 1,200 |
Fair Value, Measurements, Recurring [Member] | U.S. Agency Mortgage-Backed Securities [Member] | AARP Program [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 398 | 340 |
Fair Value, Measurements, Recurring [Member] | Non-U.S. Agency Mortgage-Backed Securities [Member] | AARP Program [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 195 | 177 |
Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets (Level 1) [Member] | AARP Program [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and cash equivalents | 274 | 415 |
Other Investments | 76 | |
Available-for-sale Securities, Equity Securities | 0 | |
Total assets at fair value | 832 | 824 |
Other liabilities | 5 | |
Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets (Level 1) [Member] | Debt Securities [Member] | AARP Program [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 482 | 409 |
Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets (Level 1) [Member] | U.S. Government and Agency Obligations [Member] | AARP Program [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 482 | 409 |
Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets (Level 1) [Member] | State and Municipal Obligations [Member] | AARP Program [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets (Level 1) [Member] | Corporate Obligations [Member] | AARP Program [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets (Level 1) [Member] | U.S. Agency Mortgage-Backed Securities [Member] | AARP Program [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets (Level 1) [Member] | Non-U.S. Agency Mortgage-Backed Securities [Member] | AARP Program [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Other Observable Inputs (Level 2) [Member] | AARP Program [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and cash equivalents | 0 | 0 |
Other Investments | 86 | |
Available-for-sale Securities, Equity Securities | 81 | |
Total assets at fair value | 2,166 | 2,138 |
Other liabilities | 13 | |
Fair Value, Measurements, Recurring [Member] | Other Observable Inputs (Level 2) [Member] | Debt Securities [Member] | AARP Program [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 2,080 | 2,057 |
Fair Value, Measurements, Recurring [Member] | Other Observable Inputs (Level 2) [Member] | U.S. Government and Agency Obligations [Member] | AARP Program [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 140 | 245 |
Fair Value, Measurements, Recurring [Member] | Other Observable Inputs (Level 2) [Member] | State and Municipal Obligations [Member] | AARP Program [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 103 | 95 |
Fair Value, Measurements, Recurring [Member] | Other Observable Inputs (Level 2) [Member] | Corporate Obligations [Member] | AARP Program [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 1,244 | 1,200 |
Fair Value, Measurements, Recurring [Member] | Other Observable Inputs (Level 2) [Member] | U.S. Agency Mortgage-Backed Securities [Member] | AARP Program [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 398 | 340 |
Fair Value, Measurements, Recurring [Member] | Other Observable Inputs (Level 2) [Member] | Non-U.S. Agency Mortgage-Backed Securities [Member] | AARP Program [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | $ 195 | $ 177 |
Property, Plant, and Capitali60
Property, Plant, and Capitalized Software (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Property, Plant and Equipment [Line Items] | |||
Depreciation | $ 613 | $ 532 | $ 445 |
Capitalized Computer Software, Amortization | $ 430 | $ 422 | $ 411 |
Property, Plant, and Capitali61
Property, Plant, and Capitalized Software Property Plant and Equipment Table (Details) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Property, Plant and Equipment [Line Items] | ||
Land and improvements | $ 237 | $ 310 |
Buildings and improvements | 2,420 | 2,295 |
Computer equipment | 1,945 | 1,693 |
Furniture and fixtures | 790 | 675 |
Less accumulated depreciation | (2,163) | (1,982) |
Property and equipment, net | 3,229 | 2,991 |
Capitalized software | 2,642 | 2,399 |
Less accumulated amortization | (1,010) | (972) |
Capitalized software, net | 1,632 | 1,427 |
Total property, equipment and capitalized software, net | $ 4,861 | $ 4,418 |
Goodwill and Intangible Asset62
Goodwill and Intangible Assets (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Goodwill and Intangible Assets [Abstract] | |||
Amortization of Intangible Assets | $ 650 | $ 524 | $ 519 |
Goodwill and Intangible Asset63
Goodwill and Intangible Assets Changes in the Carrying Amount of Goodwill by Reporting Segment (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Goodwill [Line Items] | ||
Goodwill, Beginning Balance | $ 32,940 | $ 31,604 |
Acquisitions | 12,766 | 1,835 |
Foreign currency effects and adjustments, net | (1,253) | (499) |
Goodwill, Ending Balance | 44,453 | 32,940 |
UnitedHealthcare [Member] | ||
Goodwill [Line Items] | ||
Goodwill, Beginning Balance | 24,030 | 24,251 |
Acquisitions | 128 | 266 |
Foreign currency effects and adjustments, net | (1,233) | (487) |
Goodwill, Ending Balance | 22,925 | 24,030 |
OptumHealth [Member] | ||
Goodwill [Line Items] | ||
Goodwill, Beginning Balance | 3,834 | 2,860 |
Acquisitions | 1,817 | 978 |
Foreign currency effects and adjustments, net | 9 | (4) |
Goodwill, Ending Balance | 5,660 | 3,834 |
OptumInsight [Member] | ||
Goodwill [Line Items] | ||
Goodwill, Beginning Balance | 4,236 | 3,653 |
Acquisitions | 89 | 591 |
Foreign currency effects and adjustments, net | (29) | (8) |
Goodwill, Ending Balance | 4,296 | 4,236 |
OptumRx [Member] | ||
Goodwill [Line Items] | ||
Goodwill, Beginning Balance | 840 | 840 |
Acquisitions | 10,732 | 0 |
Foreign currency effects and adjustments, net | 0 | 0 |
Goodwill, Ending Balance | $ 11,572 | $ 840 |
Goodwill and Intangible Asset64
Goodwill and Intangible Assets Gross carrying value, accumulated amortization and net carrying value of intangible assets (Details) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Intangible Assets [Line Items] | ||
Intangible Assets, Gross (Excluding Goodwill) | $ 11,519 | $ 6,354 |
Finite-Lived Intangible Assets, Accumulated Amortization | (3,128) | (2,685) |
Intangible Assets, Net (Excluding Goodwill) | 8,391 | 3,669 |
Customer-Related Intangible Assets [Member] | ||
Intangible Assets [Line Items] | ||
Intangible Assets, Gross (Excluding Goodwill) | 10,270 | 5,021 |
Finite-Lived Intangible Assets, Accumulated Amortization | (2,796) | (2,399) |
Intangible Assets, Net (Excluding Goodwill) | 7,474 | 2,622 |
Trademarks and Technology [Member] | ||
Intangible Assets [Line Items] | ||
Intangible Assets, Gross (Excluding Goodwill) | 682 | 527 |
Finite-Lived Intangible Assets, Accumulated Amortization | (249) | (202) |
Intangible Assets, Net (Excluding Goodwill) | 433 | 325 |
Trademarks and Trade Names [Member] | ||
Intangible Assets [Line Items] | ||
Intangible Assets, Gross (Excluding Goodwill) | 358 | 539 |
Finite-Lived Intangible Assets, Accumulated Amortization | 0 | 0 |
Intangible Assets, Net (Excluding Goodwill) | 358 | 539 |
Other Intangible Assets [Member] | ||
Intangible Assets [Line Items] | ||
Intangible Assets, Gross (Excluding Goodwill) | 209 | 267 |
Finite-Lived Intangible Assets, Accumulated Amortization | (83) | (84) |
Intangible Assets, Net (Excluding Goodwill) | $ 126 | $ 183 |
Goodwill and Intangible Asset65
Goodwill and Intangible Assets Weighted-average useful lives assigned to finite-lived intangible assets acquired in business combinations (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Finite-Lived Intangible Assets [Line Items] | ||
Finite-lived Intangible Assets Acquired | $ 5,712 | $ 464 |
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 19 years | 11 years |
Customer-Related Intangible Assets [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-lived Intangible Assets Acquired | $ 5,518 | $ 314 |
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 19 years | 14 years |
Trademarks and Technology [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-lived Intangible Assets Acquired | $ 194 | $ 148 |
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 4 years | 6 years |
Other Intangible Assets [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-lived Intangible Assets Acquired | $ 0 | $ 2 |
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 14 years |
Goodwill and Intangible Asset66
Goodwill and Intangible Assets Amortization Expense relating to Intangible Assets (Details) $ in Millions | Dec. 31, 2015USD ($) |
Finite-Lived Intangible Assets [Line Items] | |
2,016 | $ 808 |
2,017 | 772 |
2,018 | 668 |
2,019 | 612 |
2,020 | $ 543 |
Medical Costs Payable Rollforwa
Medical Costs Payable Rollforward (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||
Medical costs payable, beginning of period | $ 12,040 | $ 11,575 | $ 11,004 |
Reported Medical Costs: | |||
Current year | 104,195 | 94,053 | 90,339 |
Prior years | (320) | (420) | (680) |
Total reported medical costs | 103,875 | 93,633 | 89,659 |
Claim payments: | |||
Payments for current year | (90,630) | (82,750) | (79,358) |
Payments for prior year | (10,955) | (10,418) | (9,730) |
Total claim payments | (101,585) | (93,168) | (89,088) |
Medical costs payable, end of period | $ 14,330 | $ 12,040 | $ 11,575 |
Commercial Paper and Long-Ter68
Commercial Paper and Long-Term Debt (Narrative) (Details) $ in Millions | 12 Months Ended | |
Dec. 31, 2015USD ($)banks | Dec. 31, 2014USD ($) | |
Commercial Paper [Member] | ||
Debt Instrument [Line Items] | ||
Short-term Debt, Weighted Average Interest Rate | 0.70% | |
Five Year $3.0 Billion Credit Facility [Member] | Revolving Credit Facility [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Line of Credit | $ 0 | |
Line of Credit, Credit Facility, Maximum Borrowing Capacity | $ 3,000 | |
Number Of Years Of Revolving Bank Credit | 5 years | |
Number of banks that comprise revolving bank credit facility (banks) | banks | 23 | |
Maximum percentage of indebtedness to total net capital bank covenant | 55.00% | |
Five Year $3.0 Billion Credit Facility [Member] | Minimum [Member] | Revolving Credit Facility [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate During Period | 1.20% | |
Five Year $3.0 Billion Credit Facility [Member] | Maximum [Member] | Revolving Credit Facility [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate During Period | 1.70% | |
Three Year $2.0 Billion Credit Facility [Member] | Revolving Credit Facility [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Line of Credit | $ 0 | |
Line of Credit, Credit Facility, Maximum Borrowing Capacity | $ 2,000 | |
Number Of Years Of Revolving Bank Credit | 3 | |
Number of banks that comprise revolving bank credit facility (banks) | 23 | |
Maximum percentage of indebtedness to total net capital bank covenant | 55.00% | |
364 Day $1.0 Billion Credit Facility [Member] | Revolving Credit Facility [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Line of Credit | $ 0 | |
Line of Credit, Credit Facility, Maximum Borrowing Capacity | $ 1,000 | |
Credit Facility, Number of Days | 364 | |
Number of banks that comprise revolving bank credit facility (banks) | 23 | |
Maximum percentage of indebtedness to total net capital bank covenant | 55.00% | |
364 Day $1.0 Billion Credit Facility [Member] | Minimum [Member] | Revolving Credit Facility [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate During Period | 1.20% | |
364 Day $1.0 Billion Credit Facility [Member] | Maximum [Member] | Revolving Credit Facility [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate During Period | 1.70% | |
Three Year $2.0 Billion Credit Facility [Member] [Member] | Minimum [Member] | Revolving Credit Facility [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate During Period | 1.20% | |
Three Year $2.0 Billion Credit Facility [Member] [Member] | Maximum [Member] | Revolving Credit Facility [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate During Period | 1.70% | |
Designated as Hedging Instrument [Member] | Terminated Interest Rate Swaps [Member] | ||
Debt Instrument [Line Items] | ||
Derivative, Notional Amount | $ 5,200 | |
Subsidiaries [Member] | ||
Debt Instrument [Line Items] | ||
Other Long-term Debt | 164 | $ 150 |
Other Long-term Debt, Current | $ 47 | $ 34 |
Commercial Paper and Long-Ter69
Commercial Paper and Long-Term Debt (Details) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 | |
Debt Instrument [Line Items] | |||
Par Value | $ 31,972 | $ 17,347 | |
Carrying Value | 31,930 | 17,256 | |
Fair Value | 33,278 | 19,034 | |
Commercial Paper [Member] | |||
Debt Instrument [Line Items] | |||
Par Value | 3,987 | 321 | |
Commercial Paper | 3,987 | 321 | |
Debt Instrument, Fair Value Disclosure | 3,987 | 321 | |
Floating-rate Term Loan Due July 2016 [Member] | |||
Debt Instrument [Line Items] | |||
Par Value | [1] | 1,500 | 0 |
Commercial Paper | [1] | 1,500 | 0 |
Debt Instrument, Fair Value Disclosure | [1] | $ 1,500 | 0 |
4.875% Notes Due March 2015 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.875% | ||
Par Value | [2] | $ 0 | 416 |
Carrying Value | [2] | 0 | 419 |
Fair Value | [2] | $ 0 | 419 |
0.850% Notes Due October 2015 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 0.85% | ||
Par Value | [2],[3] | $ 0 | 625 |
Carrying Value | [2],[3] | 0 | 625 |
Fair Value | [2],[3] | $ 0 | 627 |
5.375% Notes Due March 2016 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 5.375% | ||
Par Value | [2],[3] | $ 601 | 601 |
Carrying Value | [2],[3] | 605 | 623 |
Fair Value | [2],[3] | $ 606 | 634 |
1.875% Notes Due November 2016 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 1.875% | ||
Par Value | [2],[3] | $ 400 | 400 |
Carrying Value | [2],[3] | 400 | 397 |
Fair Value | [2],[3] | $ 403 | 406 |
5.360% Notes Due November 2016 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 5.36% | ||
Par Value | $ 95 | 95 | |
Carrying Value | 95 | 95 | |
Fair Value | 98 | 103 | |
Floating-rate Notes Due January 2017 [Member] | |||
Debt Instrument [Line Items] | |||
Par Value | [1] | 750 | 0 |
Carrying Value | [1] | 750 | 0 |
Fair Value | [1] | $ 751 | 0 |
6.000% Notes Due June 2017 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 6.00% | ||
Par Value | [2],[3] | $ 441 | 441 |
Carrying Value | [2],[3] | 458 | 466 |
Fair Value | [2],[3] | $ 469 | 489 |
1.450% Notes Due July 2017 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 1.45% | ||
Par Value | [1] | $ 750 | 0 |
Carrying Value | [1] | 750 | 0 |
Fair Value | [1] | $ 750 | 0 |
1.400% Notes Due October 2017 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 1.40% | ||
Par Value | [2],[3] | $ 625 | 625 |
Carrying Value | [2],[3] | 625 | 616 |
Fair Value | [2],[3] | $ 624 | 624 |
6.000% Notes Due November 2017 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 6.00% | ||
Par Value | [2],[3] | $ 156 | 156 |
Carrying Value | [2],[3] | 163 | 164 |
Fair Value | [2],[3] | $ 168 | 175 |
1.400% Notes Due December 2017 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 1.40% | ||
Par Value | [2],[3] | $ 750 | 750 |
Carrying Value | [2],[3] | 753 | 745 |
Fair Value | [2],[3] | $ 748 | 749 |
6.000% Notes Due February 2018 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 6.00% | ||
Par Value | [2],[3] | $ 1,100 | 1,100 |
Carrying Value | [2],[3] | 1,115 | 1,106 |
Fair Value | [2],[3] | $ 1,196 | 1,238 |
1.900% Notes Due July 2018 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 1.90% | ||
Par Value | [1] | $ 1,500 | 0 |
Carrying Value | [1] | 1,498 | 0 |
Fair Value | [1] | $ 1,505 | 0 |
1.625% Notes Due March 2019 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 1.625% | ||
Par Value | [2],[3] | $ 500 | 500 |
Carrying Value | [2],[3] | 503 | 496 |
Fair Value | [2],[3] | $ 494 | 493 |
2.300% Notes Due December 2019 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 2.30% | ||
Par Value | [2] | $ 500 | 500 |
Carrying Value | [2] | 501 | 496 |
Fair Value | [2] | $ 502 | 502 |
2.700% Notes Due July 2020 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 2.70% | ||
Par Value | [1] | $ 1,500 | 0 |
Carrying Value | [1] | 1,499 | 0 |
Fair Value | [1] | $ 1,516 | 0 |
3.875% Notes Due October 2020 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 3.875% | ||
Par Value | [2] | $ 450 | 450 |
Carrying Value | [2] | 454 | 450 |
Fair Value | [2] | $ 476 | 477 |
4.700% Notes Due February 2021 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.70% | ||
Par Value | [2] | $ 400 | 400 |
Carrying Value | [2] | 414 | 413 |
Fair Value | [2] | $ 438 | 450 |
3.375% Notes Due November 2021 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 3.375% | ||
Par Value | [2] | $ 500 | 500 |
Carrying Value | [2] | 501 | 496 |
Fair Value | [2] | $ 517 | 519 |
2.875% Notes Due December 2021 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 2.875% | ||
Par Value | [2] | $ 750 | 750 |
Carrying Value | [2] | 756 | 748 |
Fair Value | [2] | $ 760 | 759 |
2.875% Notes Due March 2022 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 2.875% | ||
Par Value | [2] | $ 1,100 | 1,100 |
Carrying Value | [2] | 1,061 | 1,042 |
Fair Value | [2] | $ 1,099 | 1,104 |
3.350% Notes Due July 2022 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 3.35% | ||
Par Value | [1] | $ 1,000 | 0 |
Carrying Value | [1] | 999 | 0 |
Fair Value | [1] | $ 1,023 | 0 |
0.000% Notes Due November Two Thousand Twenty Two [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 0.00% | ||
Par Value | $ 15 | 15 | |
Carrying Value | 10 | 10 | |
Fair Value | $ 11 | 11 | |
2.750% Notes Due February 2023 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 2.75% | ||
Par Value | [2] | $ 625 | 625 |
Carrying Value | [2] | 614 | 604 |
Fair Value | [2] | $ 613 | 613 |
2.875% Notes Due March 2023 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 2.875% | ||
Par Value | [2] | $ 750 | 750 |
Carrying Value | [2] | 784 | 777 |
Fair Value | [2] | $ 742 | 745 |
3.750% Notes Due July 2025 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 3.75% | ||
Par Value | [1] | $ 2,000 | 0 |
Carrying Value | [1] | 1,995 | 0 |
Fair Value | [1] | $ 2,062 | 0 |
4.625% Notes Due July 2035 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.625% | ||
Par Value | [1] | $ 1,000 | 0 |
Carrying Value | [1] | 1,000 | 0 |
Fair Value | [1] | $ 1,038 | 0 |
5.800% Notes Due March 2036 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 5.80% | ||
Par Value | $ 850 | 850 | |
Carrying Value | 845 | 845 | |
Fair Value | $ 1,003 | 1,052 | |
6.500% Notes Due June 2037 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 6.50% | ||
Par Value | $ 500 | 500 | |
Carrying Value | 495 | 495 | |
Fair Value | $ 628 | 670 | |
6.625% Notes Due November 2037 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 6.625% | ||
Par Value | $ 650 | 650 | |
Carrying Value | 646 | 646 | |
Fair Value | $ 829 | 888 | |
6.875% Notes Due Februray 2038 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 6.875% | ||
Par Value | $ 1,100 | 1,100 | |
Carrying Value | 1,085 | 1,085 | |
Fair Value | $ 1,439 | 1,544 | |
5.700% Notes Due October 2040 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 5.70% | ||
Par Value | $ 300 | 300 | |
Carrying Value | 298 | 298 | |
Fair Value | $ 348 | 378 | |
5.950% Notes Due Februrary 2041 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 5.95% | ||
Par Value | $ 350 | 350 | |
Carrying Value | 348 | 348 | |
Fair Value | $ 416 | 455 | |
4.625% Notes Due November 2041 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.625% | ||
Par Value | $ 600 | 600 | |
Carrying Value | 593 | 593 | |
Fair Value | $ 609 | 646 | |
4.375% Notes Due March 2042 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.375% | ||
Par Value | $ 502 | 502 | |
Carrying Value | 486 | 486 | |
Fair Value | $ 493 | 536 | |
3.950% Notes Due October 2042 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 3.95% | ||
Par Value | $ 625 | 625 | |
Carrying Value | 612 | 611 | |
Fair Value | $ 582 | 621 | |
4.250% Notes Due March 2043 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.25% | ||
Par Value | $ 750 | 750 | |
Carrying Value | 740 | 740 | |
Fair Value | $ 728 | 786 | |
4.750% Notes Due July 2045 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.75% | ||
Par Value | [1] | $ 2,000 | 0 |
Carrying Value | [1] | 1,992 | 0 |
Fair Value | [1] | $ 2,107 | $ 0 |
[1] | Debt issued to fund the Catamaran acquisition. For more detail on Catamaran, see Note 3 of Notes to the Consolidated Financial Statements. | ||
[2] | Fixed-rate debt instruments hedged with interest rate swap contracts. See below for more information on the Company’s interest rate swaps. | ||
[3] | The Company terminated the interest rate swap contracts on these hedged instruments during the year ended December 31, 2015. See below for more information on this termination. |
Commercial Paper and Long-Ter70
Commercial Paper and Long-Term Debt Maturities of commercial paper and long-term debt (Details) $ in Millions | Dec. 31, 2015USD ($) |
Debt Instrument [Line Items] | |
2,016 | $ 6,630 |
2,017 | 3,491 |
2,018 | 2,607 |
2,019 | 1,024 |
2,020 | 1,952 |
Thereafter | $ 16,432 |
Commercial Paper and Long-Ter71
Commercial Paper and Long-Term Debt Fair Value Hedges Statement of Financial Position Location (Details) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Derivatives, Fair Value [Line Items] | ||
Interest Rate Derivative Assets, at Fair Value | $ 93 | $ 62 |
Interest Rate Derivative Liabilities, at Fair Value | 11 | 55 |
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative, Notional Amount | 5,100 | 10,700 |
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | Other Assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Interest Rate Derivative Assets, at Fair Value | 93 | 62 |
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | Other Liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Interest Rate Derivative Liabilities, at Fair Value | $ 11 | $ 55 |
Commercial Paper and Long-Ter72
Commercial Paper and Long-Term Debt Fair Value Hedges Effect of Changes in Fair Value Hedges on Income (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Derivative Instruments, Gain (Loss) [Line Items] | |||
Net impact on the Company’s Consolidated Statements of Operations | $ 0 | $ 0 | $ 0 |
Interest Rate Swap [Member] | Interest Expense [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Hedge - interest rate swap gain (loss) recognized in interest expense | 75 | 170 | |
Hedged item - long-term debt (loss) gain recognized in interest expense | (166) | ||
Debt [Member] | Interest Rate Swap [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Hedge - interest rate swap gain (loss) recognized in interest expense | $ 166 | ||
Hedged item - long-term debt (loss) gain recognized in interest expense | $ (75) | $ (170) |
Income Taxes (Details)
Income Taxes (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Income Tax Contingency [Line Items] | |||
Operating Loss Carryforwards | $ 122 | ||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | 11 | $ 6 | $ 4 |
Undistributed Earnings of Foreign Subsidiaries | 459 | ||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued | 59 | $ 33 | |
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit | $ 137 | ||
Federal [Member] | |||
Income Tax Contingency [Line Items] | |||
Open Tax Year | 2,015 | ||
Federal [Member] | Earliest Tax Year [Member] | |||
Income Tax Contingency [Line Items] | |||
Net Operating Loss Carryforwards, Expiration Date | Jan. 1, 2021 | ||
Federal [Member] | Latest Tax Year [Member] | |||
Income Tax Contingency [Line Items] | |||
Net Operating Loss Carryforwards, Expiration Date | Dec. 31, 2035 | ||
State [Member] | Earliest Tax Year [Member] | |||
Income Tax Contingency [Line Items] | |||
Net Operating Loss Carryforwards, Expiration Date | Jan. 1, 2016 | ||
Open Tax Year | 2,008 | ||
State [Member] | Latest Tax Year [Member] | |||
Income Tax Contingency [Line Items] | |||
Net Operating Loss Carryforwards, Expiration Date | Dec. 31, 2035 | ||
Open Tax Year | 2,015 |
Income Taxes Reconciliation of
Income Taxes Reconciliation of Provision for Income Taxes (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Current Provision: | |||
Federal | $ 4,155 | $ 3,883 | $ 3,004 |
State and local | 281 | 271 | 237 |
Total current provision | 4,436 | 4,154 | 3,241 |
Deferred (benefit) provision | (73) | (117) | 1 |
Total provision for income taxes | $ 4,363 | $ 4,037 | $ 3,242 |
Income Tax Reconciliation of th
Income Tax Reconciliation of the tax provision at the U.S. Federal Statutory Rate (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Income Tax Contingency [Line Items] | |||
Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount | $ 3,581 | $ 3,380 | $ 3,120 |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 35.00% | 35.00% | 35.00% |
Nonrefundable Industry Tax Expense | $ 627 | $ 469 | $ 0 |
Effective Income Tax Rate Nondeductible Industry Tax | 6.10% | 4.80% | 0.00% |
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Amount | $ 145 | $ 154 | $ 126 |
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Percent | 1.40% | 1.60% | 1.40% |
Effective Income Tax Rate Reconciliation, Tax Exempt Income, Amount | $ (44) | $ (49) | $ (53) |
Effective Income Tax Rate Reconciliation, Tax Exempt Income, Percent | (0.40%) | (0.50%) | (0.60%) |
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Amount | $ 103 | $ 96 | $ 39 |
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Percent | 1.00% | 1.00% | 0.50% |
Effective Income Tax Rate Reconciliation, Other Adjustments, Amount | $ (49) | $ (13) | $ 10 |
Effective Income Tax Rate Reconciliation, Other Adjustments, Percent | (0.50%) | (0.10%) | 0.10% |
Total provision for income taxes | $ 4,363 | $ 4,037 | $ 3,242 |
Effective Income Tax Rate Reconciliation, Percent | 42.60% | 41.80% | 36.40% |
Income Taxes Components of Defe
Income Taxes Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Deferred income tax assets: | ||
Accrued expenses and allowances | $ 739 | $ 313 |
U.S. federal and state net operating loss carryforwards | 139 | 172 |
Share-based compensation | 124 | 141 |
Nondeductible liabilities | 205 | 222 |
Medical costs payable and other policy liabilities | 71 | 120 |
Non-U.S. tax loss carryforwards | 244 | 257 |
Unearned revenues | 94 | 90 |
Unrecognized tax benefits | 69 | 38 |
Other-domestic | 51 | 36 |
Other-non-U.S. | 130 | 141 |
Subtotal | 1,866 | 1,530 |
Less: valuation allowances | (44) | (119) |
Total deferred income tax assets | 1,822 | 1,411 |
Deferred income tax liabilities: | ||
U.S. federal and state intangible assets | (2,951) | (1,275) |
Non-U.S. goodwill and intangible assets | (397) | (496) |
Capitalized software | (574) | (506) |
Net unrealized gains on investments | (34) | (129) |
Depreciation and amortization | (312) | (272) |
Prepaid expenses | (205) | (140) |
Other-non-U.S. | (76) | (102) |
Total deferred income tax liabilities | (4,549) | (2,920) |
Net deferred income tax liabilities | $ (2,727) | $ (1,509) |
Income Taxes Reconciliation o77
Income Taxes Reconciliation of the beginning and ending amount of unrecognized tax benefits (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Income Tax Contingency [Line Items] | |||
Gross unrecognized tax benefits, beginning of period | $ 92 | $ 89 | $ 81 |
Current year tax positions | 0 | 0 | 8 |
Prior year tax positions, gross increases | 55 | 4 | 5 |
Acquired Reserves | 89 | 0 | 0 |
Prior year tax positions, gross decreases | (2) | 0 | 0 |
Settlements | (1) | 0 | 0 |
Statute of limitations lapses | (9) | (1) | (5) |
Gross unrecognized tax benefits, end of period | $ 224 | $ 92 | $ 89 |
Stockholders' Equity (Details)
Stockholders' Equity (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 12 Months Ended | |||||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2012 | |
Shareholders' Equity Disclosure [Line Items] | ||||||
Cash Dividends Paid to Parent Company by Consolidated Subsidiaries | $ 4,400 | $ 4,600 | ||||
Cash and cash equivalents | 10,923 | 7,495 | $ 7,276 | $ 8,406 | ||
Statutory Accounting Practices, Statutory Capital and Surplus, Balance | 15,300 | |||||
Statutory Accounting Practices, Statutory Capital and Surplus Required | $ 8,600 | |||||
Stock Repurchase Program, Number of Shares Authorized to be Repurchased | 100 | |||||
Common stock repurchases, Shares | 10.7 | |||||
Stock Repurchases, Average Cost Per Share | $ 112.45 | |||||
Common Stock Repurchases | $ 1,200 | 4,008 | $ 3,170 | |||
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased | 61 | |||||
Cash Dividend Annual Rate Per Share | $ 2 | $ 1.50 | ||||
Parent [Member] | ||||||
Shareholders' Equity Disclosure [Line Items] | ||||||
Cash and cash equivalents | $ 286 | |||||
Extraordinary Dividends [Member] | ||||||
Shareholders' Equity Disclosure [Line Items] | ||||||
Cash Dividends Paid to Parent Company by Consolidated Subsidiaries | $ 1,500 | $ 1,500 |
Stockholders' Equity Dividends
Stockholders' Equity Dividends Paid (Details) - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Class of Stock [Line Items] | |||
Common Stock, Dividends, Per Share, Cash Paid | $ 1.8750 | $ 1.4050 | $ 1.0525 |
Payments of Ordinary Dividends, Common Stock | $ 1,786 | $ 1,362 | $ 1,056 |
Share-Based Compensation Narrat
Share-Based Compensation Narrative (Details) - USD ($) shares in Millions, $ in Millions | 1 Months Ended | ||
Jun. 30, 2015 | Dec. 31, 2015 | Dec. 31, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Additional Shares Authorized | 70 | ||
Deferred Compensation, Recorded Liability | $ 553 | $ 496 | |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 85 | ||
Employee Stock Purchase Plan (ESPP) [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 12 |
Share-Based Compensation (Stock
Share-Based Compensation (Stock Option and SAR Activity) (Details) $ / shares in Units, shares in Millions, $ in Millions | 12 Months Ended |
Dec. 31, 2015USD ($)$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | |
Outstanding at the beginning of the period | shares | 33 |
Granted, Shares | shares | 9 |
Exercised, Shares | shares | (7) |
Forfeitures, Shares | shares | (1) |
Outstanding at the end of the period | shares | 34 |
Exercisable at end of period, Shares | shares | 16 |
Vested and expected to vest end of period, Shares | shares | 33 |
Outstanding at beginning of period, Weighted-Average Exercise Price | $ / shares | $ 53 |
Granted, Weighted-Average Exercise Price | $ / shares | 110 |
Exercised, Weighted-Average Exercise Price | $ / shares | 53 |
Forfeitures, Weighted Average Exercise Price | $ / shares | 80 |
Outstanding at end of period, Weighted-Average Exercise Price | $ / shares | 68 |
Exercisable at end of period, Weighted-Average Exercise Price | $ / shares | 47 |
Vested and expected to vest end of period, Weighted-Average Exercise Price | $ / shares | $ 67 |
Outstanding at end of period, Weighted Average Remaining Contractual Term (in years) | 6 years |
Exercisable at end of period, Weighted Average Remaining Contractual Term (in years) | 3 years 4 months 24 days |
Vested and expected to vest end of period, Weighted Average Remaining Contractual Term (in years) | 5 years 10 months 24 days |
Outstanding at end of period, Aggregate Intrinsic Value | $ | $ 1,666 |
Exercisable at end of period, Aggregate Intrinsic Value | $ | 1,133 |
Vested and expected to vest end of period, Aggregate Intrinsic Value | $ | $ 1,646 |
Share-Based Compensation (Restr
Share-Based Compensation (Restricted Share Activity) (Details) - Restricted Stock [Member] shares in Millions | 12 Months Ended |
Dec. 31, 2015$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |
Nonvested at beginning of period, Shares | shares | 9 |
Granted, Shares | shares | 3 |
Vested | shares | (5) |
Nonvested at end of period, Shares | shares | 7 |
Nonvested at beginning of period, Weighted-Average Grant Date Fair Value per Share | $ / shares | $ 61 |
Weighted-average grant date fair value (per share) | $ / shares | 110 |
Vested, Weighted Average Grant Date Fair Value | $ / shares | 62 |
Nonvested at end of period, Weighted-Average Grant Date Fair Value per Share | $ / shares | $ 82 |
Share-Based Compensation Other
Share-Based Compensation Other Share-Based Compensation Data (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based compensation expense, before tax | $ 406 | $ 364 | $ 331 |
Share-based compensation expense, net of tax effects | 348 | 314 | 239 |
Income tax benefit realized from share-based award exercises | 247 | $ 231 | $ 206 |
Unrecognized compensation expense related to share awards | $ 469 | ||
Weighted-average years to recognize compensation expense | 1 year 3 months 18 days | ||
Stock Options and SARs [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Weighted-average grant date fair value of shares granted, per share | $ 22 | $ 22 | $ 19 |
Total intrinsic value of stock options and SARs exercised | $ 482 | $ 526 | $ 592 |
Restricted Stock Units (RSUs) [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Weighted-average grant date fair value (per share) | $ 110 | $ 71 | $ 58 |
Total fair value of restricted shares vested | $ 460 | $ 437 | $ 31 |
Employee Stock Purchase Plan (ESPP) [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of shares purchased | 2 | 2 | 3 |
Share-Based Compensation (Share
Share-Based Compensation (Share-Based Compensation Principal Fair Value Assumptions) (Details) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Forfeiture rate | 5.00% | 5.00% | 5.00% |
Expected Life in years | 5 years 4 months 24 days | 5 years 3 months 18 days | |
Minimum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Risk-free interest rate | 1.60% | 1.70% | 1.00% |
Expected Volatility | 22.30% | 24.10% | 41.00% |
Expected dividend yield | 1.40% | 1.60% | 1.40% |
Expected Life in years | 5 years 6 months | ||
Maximum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Risk-free interest rate | 1.70% | 1.80% | 1.60% |
Expected Volatility | 24.10% | 39.60% | 43.00% |
Expected dividend yield | 1.70% | 1.90% | 1.60% |
Expected Life in years | 6 years 1 month 6 days |
Commitments and Contingencies85
Commitments and Contingencies (Details) - USD ($) $ in Millions | Jun. 09, 2014 | Jan. 25, 2008 | Aug. 31, 2013 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Loss Contingency [Line Items] | ||||||
Undrawn Letters Of Credit | $ 30 | |||||
Surety Bonds Outstanding | 1,100 | |||||
Operating Leases, Rent Expense | 555 | $ 449 | $ 438 | |||
California Claims Processing Matter [Member] | ||||||
Loss Contingency [Line Items] | ||||||
Estimated Largest Aggregate Penalty Issued By Cdi | $ 8 | |||||
CDI aggregate penalty | $ 325 | |||||
California Claims Processing Matter [Member] | California Administrative Law Judge [Member] | Judicial Ruling [Member] | ||||||
Loss Contingency [Line Items] | ||||||
Loss Contingency, Damages Awarded, Value | $ 11.5 | |||||
California Claims Processing Matter [Member] | California Insurance Commissioner [Member] | Judicial Ruling [Member] | ||||||
Loss Contingency [Line Items] | ||||||
Loss Contingency, Damages Awarded, Value | $ 174 |
Commitments and Contingencies F
Commitments and Contingencies Future Lease Payments (Details) $ in Millions | Dec. 31, 2015USD ($) |
Operating Leased Assets [Line Items] | |
2,016 | $ 417 |
2,017 | 370 |
2,018 | 325 |
2,019 | 267 |
2,020 | 230 |
Thereafter | $ 471 |
Segment Financial Information87
Segment Financial Information (Narrative) (Details) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Statement [Line Items] | |||
Number of Reportable Segments | 4 | ||
UNITED STATES | |||
Statement [Line Items] | |||
Disclosure on Geographic Areas Percentage of Revenue from External Customers | 96.00% | 95.00% | 95.00% |
Disclosure on Geographic Areas Percentage of Long Lived Assets | 81.00% | 73.00% | |
Revenues [Member] | CMS Subsidies [Member] | |||
Statement [Line Items] | |||
Concentration Risk, Percentage | 26.00% | 29.00% | 29.00% |
Segment Financial Information88
Segment Financial Information (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Statement [Line Items] | |||
Premiums, revenues - external customers | $ 127,163 | $ 115,302 | $ 109,557 |
Products, revenues - external customers | 17,312 | 4,242 | 3,190 |
Services, revenues - external customers | 11,922 | 10,151 | 8,997 |
Investment and other income | 710 | 779 | 745 |
Total revenues | 157,107 | 130,474 | 122,489 |
Earnings from operations | 11,021 | 10,274 | 9,623 |
Interest expense | (790) | (618) | (708) |
Earnings before income taxes | 10,231 | 9,656 | 8,915 |
Total assets | 111,383 | 86,382 | 81,882 |
Purchases of property, equipment and capitalized software | 1,556 | 1,525 | 1,307 |
Depreciation and amortization | 1,693 | 1,478 | 1,375 |
Optum [Member] | |||
Statement [Line Items] | |||
Investment and other income | 156 | 145 | 128 |
Total revenues | 67,604 | 47,746 | 38,117 |
Earnings from operations | 4,267 | 3,282 | 2,491 |
Interest expense | 0 | 0 | 0 |
Earnings before income taxes | 4,267 | 3,282 | 2,491 |
Total assets | 49,779 | 24,734 | 20,607 |
Purchases of property, equipment and capitalized software | 903 | 752 | 637 |
Depreciation and amortization | 975 | 706 | 609 |
External Customers [Member] | |||
Statement [Line Items] | |||
Premiums, revenues - external customers | 127,163 | 115,302 | 109,557 |
Products, revenues - external customers | 17,312 | 4,242 | 3,190 |
Services, revenues - external customers | 11,922 | 10,151 | 8,997 |
Total revenues | 156,397 | 129,695 | 121,744 |
External Customers [Member] | Optum [Member] | |||
Statement [Line Items] | |||
Premiums, revenues - external customers | 3,152 | 2,657 | 2,533 |
Products, revenues - external customers | 17,310 | 4,239 | 3,182 |
Services, revenues - external customers | 5,146 | 3,635 | 2,921 |
Total revenues | 25,608 | 10,531 | 8,636 |
Intersegment [Member] | |||
Statement [Line Items] | |||
Total revenues | 0 | 0 | 0 |
Intersegment [Member] | Optum [Member] | |||
Statement [Line Items] | |||
Total revenues | 41,840 | 37,070 | 29,353 |
Operating Segments [Member] | UnitedHealthcare [Member] | |||
Statement [Line Items] | |||
Investment and other income | 554 | 634 | 617 |
Total revenues | 131,343 | 119,798 | 113,725 |
Earnings from operations | 6,754 | 6,992 | 7,132 |
Interest expense | 0 | 0 | 0 |
Earnings before income taxes | 6,754 | 6,992 | 7,132 |
Total assets | 64,212 | 62,405 | 61,942 |
Purchases of property, equipment and capitalized software | 653 | 773 | 670 |
Depreciation and amortization | 718 | 772 | 766 |
Operating Segments [Member] | OptumHealth [Member] | |||
Statement [Line Items] | |||
Investment and other income | 153 | 144 | 127 |
Total revenues | 13,927 | 11,032 | 9,855 |
Earnings from operations | 1,240 | 1,090 | 949 |
Interest expense | 0 | 0 | 0 |
Earnings before income taxes | 1,240 | 1,090 | 949 |
Total assets | 14,600 | 11,148 | 9,244 |
Purchases of property, equipment and capitalized software | 252 | 212 | 185 |
Depreciation and amortization | 251 | 179 | 158 |
Operating Segments [Member] | OptumInsight [Member] | |||
Statement [Line Items] | |||
Investment and other income | 1 | 1 | 1 |
Total revenues | 6,196 | 5,227 | 4,714 |
Earnings from operations | 1,278 | 1,002 | 831 |
Interest expense | 0 | 0 | 0 |
Earnings before income taxes | 1,278 | 1,002 | 831 |
Total assets | 8,335 | 8,112 | 6,880 |
Purchases of property, equipment and capitalized software | 572 | 484 | 363 |
Depreciation and amortization | 492 | 433 | 359 |
Operating Segments [Member] | OptumRx [Member] | |||
Statement [Line Items] | |||
Investment and other income | 2 | 0 | 0 |
Total revenues | 48,272 | 31,976 | 24,006 |
Earnings from operations | 1,749 | 1,190 | 711 |
Interest expense | 0 | 0 | 0 |
Earnings before income taxes | 1,749 | 1,190 | 711 |
Total assets | 26,844 | 5,474 | 4,483 |
Purchases of property, equipment and capitalized software | 79 | 56 | 89 |
Depreciation and amortization | 232 | 94 | 92 |
Operating Segments [Member] | External Customers [Member] | UnitedHealthcare [Member] | |||
Statement [Line Items] | |||
Premiums, revenues - external customers | 124,011 | 112,645 | 107,024 |
Products, revenues - external customers | 2 | 3 | 8 |
Services, revenues - external customers | 6,776 | 6,516 | 6,076 |
Total revenues | 130,789 | 119,164 | 113,108 |
Operating Segments [Member] | External Customers [Member] | OptumHealth [Member] | |||
Statement [Line Items] | |||
Premiums, revenues - external customers | 3,152 | 2,657 | 2,533 |
Products, revenues - external customers | 31 | 18 | 19 |
Services, revenues - external customers | 2,375 | 1,300 | 819 |
Total revenues | 5,558 | 3,975 | 3,371 |
Operating Segments [Member] | External Customers [Member] | OptumInsight [Member] | |||
Statement [Line Items] | |||
Premiums, revenues - external customers | 0 | 0 | 0 |
Products, revenues - external customers | 108 | 96 | 92 |
Services, revenues - external customers | 2,390 | 2,224 | 2,006 |
Total revenues | 2,498 | 2,320 | 2,098 |
Operating Segments [Member] | External Customers [Member] | OptumRx [Member] | |||
Statement [Line Items] | |||
Premiums, revenues - external customers | 0 | 0 | 0 |
Products, revenues - external customers | 17,171 | 4,125 | 3,071 |
Services, revenues - external customers | 381 | 111 | 96 |
Total revenues | 17,552 | 4,236 | 3,167 |
Operating Segments [Member] | Intersegment [Member] | UnitedHealthcare [Member] | |||
Statement [Line Items] | |||
Total revenues | 0 | 0 | 0 |
Operating Segments [Member] | Intersegment [Member] | OptumHealth [Member] | |||
Statement [Line Items] | |||
Total revenues | 8,216 | 6,913 | 6,357 |
Operating Segments [Member] | Intersegment [Member] | OptumInsight [Member] | |||
Statement [Line Items] | |||
Total revenues | 3,697 | 2,906 | 2,615 |
Operating Segments [Member] | Intersegment [Member] | OptumRx [Member] | |||
Statement [Line Items] | |||
Total revenues | 30,718 | 27,740 | 20,839 |
Optum Eliminations [Member] | |||
Statement [Line Items] | |||
Investment and other income | 0 | 0 | 0 |
Total revenues | (791) | (489) | (458) |
Earnings from operations | 0 | 0 | 0 |
Interest expense | 0 | 0 | 0 |
Earnings before income taxes | 0 | 0 | 0 |
Total assets | 0 | 0 | 0 |
Purchases of property, equipment and capitalized software | 0 | 0 | 0 |
Depreciation and amortization | 0 | 0 | 0 |
Optum Eliminations [Member] | External Customers [Member] | |||
Statement [Line Items] | |||
Premiums, revenues - external customers | 0 | 0 | 0 |
Products, revenues - external customers | 0 | 0 | 0 |
Services, revenues - external customers | 0 | 0 | 0 |
Total revenues | 0 | 0 | 0 |
Optum Eliminations [Member] | Intersegment [Member] | |||
Statement [Line Items] | |||
Total revenues | (791) | (489) | (458) |
Corporate and Eliminations [Member] | |||
Statement [Line Items] | |||
Investment and other income | 0 | 0 | 0 |
Total revenues | (41,840) | (37,070) | (29,353) |
Earnings from operations | 0 | 0 | 0 |
Interest expense | (790) | (618) | (708) |
Earnings before income taxes | (790) | (618) | (708) |
Total assets | (2,608) | (757) | (667) |
Purchases of property, equipment and capitalized software | 0 | 0 | 0 |
Depreciation and amortization | 0 | 0 | 0 |
Corporate and Eliminations [Member] | External Customers [Member] | |||
Statement [Line Items] | |||
Premiums, revenues - external customers | 0 | 0 | 0 |
Products, revenues - external customers | 0 | 0 | 0 |
Services, revenues - external customers | 0 | 0 | 0 |
Total revenues | 0 | 0 | 0 |
Corporate and Eliminations [Member] | Intersegment [Member] | |||
Statement [Line Items] | |||
Total revenues | $ (41,840) | $ (37,070) | $ (29,353) |
Quarterly Financial Data (Una89
Quarterly Financial Data (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Revenues | $ 157,107 | $ 130,474 | $ 122,489 | ||||||||
Operating costs | 146,086 | 120,200 | 112,866 | ||||||||
Earnings from operations | 11,021 | 10,274 | 9,623 | ||||||||
Net earnings | 5,868 | 5,619 | 5,673 | ||||||||
Net earnings attributable to UnitedHealth Group common stockholders | $ 5,813 | $ 5,619 | $ 5,625 | ||||||||
Net earnings per share attributable to UnitedHealth Group common stockholders: | |||||||||||
Basic | $ 6.10 | $ 5.78 | $ 5.59 | ||||||||
Diluted | $ 6.01 | $ 5.70 | $ 5.50 | ||||||||
Quarterly Financial Data (Unaudited) [Member] | |||||||||||
Revenues | $ 43,599 | $ 41,489 | $ 36,263 | $ 35,756 | $ 33,433 | $ 32,759 | $ 32,574 | $ 31,708 | |||
Operating costs | 41,131 | 38,471 | 33,368 | 33,116 | 30,668 | 29,856 | 30,022 | 29,654 | |||
Earnings from operations | 2,468 | 3,018 | 2,895 | 2,640 | 2,765 | 2,903 | 2,552 | 2,054 | |||
Net earnings | 1,252 | 1,618 | 1,585 | 1,413 | 1,510 | 1,602 | 1,408 | 1,099 | |||
Net earnings attributable to UnitedHealth Group common stockholders | $ 1,218 | $ 1,597 | $ 1,585 | $ 1,413 | $ 1,510 | $ 1,602 | $ 1,408 | $ 1,099 | |||
Net earnings per share attributable to UnitedHealth Group common stockholders: | |||||||||||
Basic | $ 1.28 | $ 1.68 | $ 1.66 | $ 1.48 | $ 1.58 | $ 1.65 | $ 1.44 | $ 1.12 | |||
Diluted | $ 1.26 | $ 1.65 | $ 1.64 | $ 1.46 | $ 1.55 | $ 1.63 | $ 1.42 | $ 1.10 |
Schedule I (Details)
Schedule I (Details) - USD ($) $ in Millions | Jul. 23, 2015 | Jul. 31, 2015 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Condensed Financial Statements, Captions [Line Items] | |||||
Cash Dividends Paid to Parent Company by Consolidated Subsidiaries | $ 4,400 | $ 4,600 | |||
Parent Company [Member] | |||||
Condensed Financial Statements, Captions [Line Items] | |||||
Payments to Fund Long-term Loans to Related Parties | 5,064 | 436 | $ 1,517 | ||
Cash Dividends Paid to Parent Company by Consolidated Subsidiaries | 4,800 | 5,500 | 5,300 | ||
Return of capital to parent company | 4,375 | 0 | 0 | ||
Parent Company [Member] | Funding of Amil Share Repurchase [Member] | |||||
Condensed Financial Statements, Captions [Line Items] | |||||
Payments to Fund Long-term Loans to Related Parties | $ 1,517 | ||||
Subsidiaries [Member] | |||||
Condensed Financial Statements, Captions [Line Items] | |||||
Other Long-term Debt | $ 164 | $ 150 | |||
Catamaran [Member] | |||||
Condensed Financial Statements, Captions [Line Items] | |||||
Payments to Acquire Businesses, Gross | $ 14,300 | ||||
Catamaran [Member] | Parent Company [Member] | |||||
Condensed Financial Statements, Captions [Line Items] | |||||
Payments to Fund Long-term Loans to Related Parties | $ 4,800 |
Schedule I Condensed Balance Sh
Schedule I Condensed Balance Sheets (Details) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Current assets: | ||||
Cash and cash equivalents | $ 10,923 | $ 7,495 | $ 7,276 | $ 8,406 |
Total current assets | 31,639 | 23,556 | ||
Other assets | 3,247 | 2,972 | ||
Total assets | 111,383 | 86,382 | 81,882 | |
Current liabilities: | ||||
Accounts payable and accrued liabilities | 11,994 | 9,247 | ||
Commercial paper and current maturities of long-term debt | 6,634 | 1,399 | ||
Total current liabilities | 42,898 | 30,623 | ||
Long-term debt, less current maturities | 25,460 | 16,007 | ||
Total liabilities | 75,922 | $ 52,540 | ||
Commitments and contingencies (Note 5) | ||||
Stockholders’ 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 954 issued and outstanding | 10 | 10 | ||
Additional paid-in capital | 29 | 0 | ||
Retained earnings | 37,125 | 33,836 | ||
Accumulated other comprehensive loss | (3,334) | (1,392) | ||
Total liabilities and stockholders’ equity | 111,383 | 86,382 | ||
Parent Company [Member] | ||||
Current assets: | ||||
Cash and cash equivalents | 29 | 559 | $ 822 | $ 1,025 |
Short-term notes receivable from subsidiaries | 0 | 27 | ||
Deferred income taxes and other current assets | 313 | 271 | ||
Total current assets | 342 | 857 | ||
Equity in net assets of subsidiaries | 56,316 | 44,643 | ||
Long-term notes receivable from subsidiaries | 9,679 | 4,635 | ||
Other assets | 328 | 278 | ||
Total assets | 66,665 | 50,413 | ||
Current liabilities: | ||||
Accounts payable and accrued liabilities | 449 | 332 | ||
Note payable to subsidiary | 310 | 215 | ||
Commercial paper and current maturities of long-term debt | 6,587 | 1,365 | ||
Total current liabilities | 7,346 | 1,912 | ||
Long-term debt, less current maturities | 25,344 | 15,891 | ||
Deferred income taxes and other liabilities | 145 | 156 | ||
Total liabilities | 32,835 | 17,959 | ||
Stockholders’ 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 954 issued and outstanding | 10 | 10 | ||
Additional paid-in capital | 29 | 0 | ||
Retained earnings | 37,125 | 33,836 | ||
Accumulated other comprehensive loss | (3,334) | (1,392) | ||
Total UnitedHealth Group stockholders’ equity | 33,830 | 32,454 | ||
Total liabilities and stockholders’ equity | $ 66,665 | $ 50,413 |
Schedule I Balance Sheet Docume
Schedule I Balance Sheet Document (Details) - $ / shares shares in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Common stock, par value | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 3,000 | 3,000 |
Common stock, shares issued | 953 | 954 |
Common Stock, shares outstanding | 953 | 954 |
Preferred stock, par value | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 10 | 10 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Parent Company [Member] | ||
Common stock, par value | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 3,000 | 3,000 |
Common stock, shares issued | 953 | 954 |
Common Stock, shares outstanding | 953 | 954 |
Preferred stock, par value | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 10 | 10 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Schedule I Condensed Statement
Schedule I Condensed Statement of Comprehensive Income (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Revenues: | |||
Investment and other income | $ 710 | $ 779 | $ 745 |
Total revenues | 157,107 | 130,474 | 122,489 |
Operating costs: | |||
Interest expense | 790 | 618 | 708 |
Total operating costs | 146,086 | 120,200 | 112,866 |
Loss before income taxes | 10,231 | 9,656 | 8,915 |
Benefit for income taxes | 4,363 | 4,037 | 3,242 |
Net earnings | 5,813 | 5,619 | 5,625 |
Other comprehensive loss | (1,942) | (484) | (1,346) |
Comprehensive income | 3,871 | 5,135 | 4,279 |
Parent Company [Member] | |||
Revenues: | |||
Investment and other income | 396 | 293 | 252 |
Total revenues | 396 | 293 | 252 |
Operating costs: | |||
Operating costs | (17) | 1 | (9) |
Interest expense | 717 | 554 | 618 |
Total operating costs | 700 | 555 | 609 |
Loss before income taxes | (304) | (262) | (357) |
Benefit for income taxes | 111 | 96 | 130 |
Loss of parent company | (193) | (166) | (227) |
Equity in undistributed income of subsidiaries | 6,006 | 5,785 | 5,852 |
Net earnings | 5,813 | 5,619 | 5,625 |
Other comprehensive loss | (1,942) | (484) | (1,346) |
Comprehensive income | $ 3,871 | $ 5,135 | $ 4,279 |
Schedule I Statement of Cash Fl
Schedule I Statement of Cash Flows (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Operating activities | |||
Cash flows from operating activities | $ 9,740 | $ 8,051 | $ 6,991 |
Investing activities | |||
Cash paid for acquisitions | (16,164) | (1,923) | (362) |
Other, net | 144 | (115) | (191) |
Cash flows used for investing activities | (18,395) | (2,534) | (3,089) |
Financing activities | |||
Common stock repurchases | (1,200) | (4,008) | (3,170) |
Proceeds from common stock issuances | 402 | 462 | 598 |
Proceeds from (repayments of) commercial paper, net | 3,666 | (794) | (474) |
Proceeds from issuance of long-term debt | 11,982 | 1,997 | 2,235 |
Repayments of long-term debt | (1,041) | (812) | (1,609) |
Other, net | (434) | (138) | (27) |
Cash flows from (used for) financing activities | 12,239 | (5,293) | (4,946) |
Decrease in cash and cash equivalents | 3,428 | 219 | (1,130) |
Cash and cash equivalents, beginning of period | 7,495 | 7,276 | 8,406 |
Cash and cash equivalents, end of period | 10,923 | 7,495 | 7,276 |
Supplemental cash flow disclosures | |||
Cash paid for interest | 639 | 644 | 724 |
Cash paid for income taxes | 4,401 | 4,024 | 2,785 |
Parent Company [Member] | |||
Operating activities | |||
Cash flows from operating activities | 1,727 | 7,445 | 5,099 |
Investing activities | |||
Issuance of notes to subsidiaries | (5,064) | (436) | (1,517) |
Cash paid for acquisitions | (12,270) | (1,852) | (274) |
Return of capital to parent company | 4,375 | 0 | 0 |
Capital contributions to subsidiaries | (1,109) | (704) | (942) |
Other, net | 140 | (9) | 275 |
Cash flows used for investing activities | (13,928) | (3,001) | (2,458) |
Financing activities | |||
Common stock repurchases | (1,200) | (4,008) | (3,170) |
Proceeds from common stock issuances | 402 | 462 | 598 |
Cash dividends paid | (1,786) | (1,362) | (1,056) |
Proceeds from (repayments of) commercial paper, net | 3,666 | (794) | (474) |
Proceeds from issuance of long-term debt | 11,982 | 1,997 | 2,235 |
Repayments of long-term debt | (1,041) | (812) | (943) |
Other, net | (352) | (190) | (34) |
Cash flows from (used for) financing activities | 11,671 | (4,707) | (2,844) |
Decrease in cash and cash equivalents | (530) | (263) | (203) |
Cash and cash equivalents, beginning of period | 559 | 822 | 1,025 |
Cash and cash equivalents, end of period | 29 | 559 | 822 |
Supplemental cash flow disclosures | |||
Cash paid for interest | 573 | 578 | 618 |
Cash paid for income taxes | $ 4,294 | $ 4,028 | $ 2,765 |
Schedule I Maturities of Commer
Schedule I Maturities of Commercial Paper and Long-Term Debt (Details) $ in Millions | Dec. 31, 2015USD ($) |
Debt Instrument [Line Items] | |
2,016 | $ 6,630 |
2,017 | 3,491 |
2,018 | 2,607 |
2,019 | 1,024 |
2,020 | 1,952 |
Thereafter | 16,432 |
Parent Company [Member] | |
Debt Instrument [Line Items] | |
2,016 | 6,583 |
2,017 | 3,472 |
2,018 | 2,600 |
2,019 | 1,000 |
2,020 | 1,950 |
Thereafter | $ 16,367 |