Document and Entity Information
Document and Entity Information Document - shares | 6 Months Ended | |
Jun. 30, 2016 | Jul. 29, 2016 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2016 | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q2 | |
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 | |
Entity Common Stock, Shares Outstanding | 952,391,411 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Millions | Jun. 30, 2016 | Dec. 31, 2015 |
Current assets: | ||
Cash and cash equivalents | $ 8,217 | $ 10,923 |
Short-term investments | 2,757 | 1,988 |
Accounts receivable, net | 9,346 | 6,523 |
Other current receivables, net | 7,355 | 6,801 |
Assets under management | 2,855 | 2,998 |
Prepaid expenses and other current assets | 2,768 | 2,406 |
Total current assets | 33,298 | 31,639 |
Long-term investments | 22,211 | 18,792 |
Property, equipment and capitalized software, net | 5,189 | 4,861 |
Goodwill | 46,881 | 44,453 |
Other intangible assets, net | 8,878 | 8,391 |
Other assets | 3,146 | 3,118 |
Total assets | 119,603 | 111,254 |
Current liabilities: | ||
Medical costs payable | 16,632 | 14,330 |
Accounts payable and accrued liabilities | 14,366 | 11,994 |
Other policy liabilities | 8,447 | 7,798 |
Commercial paper and current maturities of long-term debt | 6,364 | 6,634 |
Unearned revenues | 1,567 | 2,142 |
Total current liabilities | 47,376 | 42,898 |
Long-term debt, less current maturities | 26,834 | 25,331 |
Future policy benefits | 2,507 | 2,496 |
Deferred income taxes | 2,857 | 3,587 |
Other liabilities | 1,998 | 1,481 |
Total liabilities | 81,572 | 75,793 |
Commitments and contingencies (Note 9) | ||
Redeemable noncontrolling interests | 1,744 | 1,736 |
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; 951 and 953 issued and outstanding | 10 | 10 |
Additional paid-in capital | 0 | 29 |
Retained earnings | 38,579 | 37,125 |
Accumulated other comprehensive loss | (2,203) | (3,334) |
Nonredeemable noncontrolling interest | (99) | (105) |
Total equity | 36,287 | 33,725 |
Total liabilities, redeemable noncontrolling interests and equity | $ 119,603 | $ 111,254 |
Condensed Consolidated Balance3
Condensed Consolidated Balance Sheet (Parenthetical) - $ / shares shares in Millions | Jun. 30, 2016 | Dec. 31, 2015 |
Common stock, par value | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 3,000 | 3,000 |
Common stock, shares issued | 951 | 953 |
Common stock, shares outstanding | 951 | 953 |
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 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Revenues: | ||||
Premiums | $ 36,413 | $ 31,961 | $ 71,224 | $ 63,635 |
Products | 6,610 | 1,223 | 13,003 | 2,453 |
Services | 3,269 | 2,865 | 6,409 | 5,571 |
Investment and other income | 193 | 214 | 376 | 360 |
Total revenues | 46,485 | 36,263 | 91,012 | 72,019 |
Operating costs: | ||||
Medical costs | 29,872 | 26,127 | 58,302 | 51,917 |
Operating costs | 6,793 | 5,738 | 13,551 | 11,572 |
Cost of products sold | 6,106 | 1,124 | 11,983 | 2,238 |
Depreciation and amortization | 511 | 379 | 1,013 | 757 |
Total operating costs | 43,282 | 33,368 | 84,849 | 66,484 |
Earnings from operations | 3,203 | 2,895 | 6,163 | 5,535 |
Interest expense | (271) | (151) | (530) | (301) |
Earnings before income taxes | 2,932 | 2,744 | 5,633 | 5,234 |
Provision for income taxes | (1,172) | (1,159) | (2,246) | (2,236) |
Net earnings | 1,760 | 1,585 | 3,387 | 2,998 |
Earnings attributable to noncontrolling interests | (6) | 0 | (22) | 0 |
Net earnings attributable to UnitedHealth Group common shareholders | $ 1,754 | $ 1,585 | $ 3,365 | $ 2,998 |
Earnings per share attributable to UnitedHealth Group common shareholders: | ||||
Basic | $ 1.84 | $ 1.66 | $ 3.53 | $ 3.15 |
Diluted | $ 1.81 | $ 1.64 | $ 3.48 | $ 3.10 |
Basic weighted-average number of common shares outstanding | 951 | 952 | 952 | 953 |
Dilutive effect of common share equivalents | 16 | 14 | 15 | 14 |
Diluted weighted-average number of common shares outstanding | 967 | 966 | 967 | 967 |
Anti-dilutive shares excluded from the calculation of dilutive effect of common share equivalents | 1 | 8 | 4 | 8 |
Cash dividends declared per common share | $ 0.625 | $ 0.500 | $ 1.125 | $ 0.875 |
Condensed Consolidated Stateme5
Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Net earnings | $ 1,760 | $ 1,585 | $ 3,387 | $ 2,998 |
Other comprehensive income (loss): | ||||
Gross unrealized gains (losses) on investment securities during the period | 234 | (222) | 494 | (117) |
Income tax effect | (84) | 80 | (180) | 43 |
Total unrealized gains (losses), net of tax | 150 | (142) | 314 | (74) |
Gross reclassification adjustment for net realized gains included in net earnings | (36) | (68) | (71) | (71) |
Income tax effect | 13 | 25 | 26 | 26 |
Total reclassification adjustment, net of tax | (23) | (43) | (45) | (45) |
Total foreign currency translation gains (losses) | 474 | 163 | 862 | (796) |
Other comprehensive income (loss) | 601 | (22) | 1,131 | (915) |
Comprehensive income | 2,361 | 1,563 | 4,518 | 2,083 |
Comprehensive income attributable to noncontrolling interests | (6) | 0 | (22) | 0 |
Comprehensive income attributable to UnitedHealth Group common shareholders | $ 2,355 | $ 1,563 | $ 4,496 | $ 2,083 |
Condensed Consolidated Stateme6
Condensed Consolidated Statements of Changes in Equity - USD ($) shares in Millions, $ 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) Gains [Member] | Nonredeemable Noncontrolling Interest [Member] |
Balance (in shares) at Dec. 31, 2014 | 954 | ||||||
Balance at Dec. 31, 2014 | $ 32,454 | $ 10 | $ 0 | $ 33,836 | $ 223 | $ (1,615) | $ 0 |
Net earnings attributable to UnitedHealth Group common shareholders | 2,998 | 2,998 | |||||
Net Earnings, Including Portion Attributable to Nonredeemable Noncontrolling Interest | 2,998 | ||||||
Other comprehensive income (loss) | (915) | (119) | (796) | ||||
Issuances of common stock, and related tax effects (in shares) | 7 | ||||||
Issuances of common stock, and related tax effects | 23 | $ 0 | 23 | ||||
Share-based compensation, and related tax benefits | 319 | 319 | |||||
Common share repurchases (in shares) | (9) | ||||||
Common share repurchases | (953) | $ 0 | (214) | (739) | |||
Cash dividends paid on common shares | (833) | (833) | |||||
Redeemable noncontrolling interests fair value and other adjustments | (73) | (73) | |||||
Balance (in shares) at Jun. 30, 2015 | 952 | ||||||
Balance at Jun. 30, 2015 | $ 33,020 | $ 10 | 55 | 35,262 | 104 | (2,411) | 0 |
Balance (in shares) at Dec. 31, 2015 | 953 | 953 | |||||
Balance at Dec. 31, 2015 | $ 33,725 | $ 10 | 29 | 37,125 | 56 | (3,390) | (105) |
Adjustment to adopt ASU 2016-09 | 28 | 28 | |||||
Net earnings attributable to UnitedHealth Group common shareholders | 3,365 | 3,365 | |||||
Net earnings attributable to nonredeemable noncontrolling interest | 22 | ||||||
Net Earnings, Including Portion Attributable to Nonredeemable Noncontrolling Interest | 3,387 | ||||||
Other comprehensive income (loss) | 1,131 | 269 | 862 | ||||
Issuances of common stock, and related tax effects (in shares) | 6 | ||||||
Issuances of common stock, and related tax effects | 76 | $ 0 | 76 | ||||
Share-based compensation | 249 | 249 | |||||
Common share repurchases (in shares) | (8) | ||||||
Common share repurchases | (980) | $ 0 | (112) | (868) | |||
Cash dividends paid on common shares | (1,071) | (1,071) | |||||
Acquisition of redeemable noncontrolling interest shares | (139) | (139) | |||||
Redeemable noncontrolling interests fair value and other adjustments | (103) | (103) | |||||
Distribution to nonredeemable noncontrolling interest | $ (16) | (16) | |||||
Balance (in shares) at Jun. 30, 2016 | 951 | 951 | |||||
Balance at Jun. 30, 2016 | $ 36,287 | $ 10 | $ 0 | $ 38,579 | $ 325 | $ (2,528) | $ (99) |
Condensed Consolidated Stateme7
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Operating activities | ||
Net earnings | $ 3,387 | $ 2,998 |
Noncash items: | ||
Depreciation and amortization | 1,013 | 757 |
Deferred income taxes | (141) | (30) |
Share-based compensation | 262 | 211 |
Other, net | (20) | (160) |
Net change in other operating items, net of effects from acquisitions and changes in AARP balances: | ||
Accounts receivable | (2,638) | (1,725) |
Other assets | (2,052) | (2,178) |
Medical costs payable | 2,099 | 1,988 |
Accounts payable and other liabilities | 2,403 | 1,809 |
Other policy liabilities | 283 | 208 |
Unearned revenues | (595) | (446) |
Cash flows from operating activities | 4,001 | 3,432 |
Investing activities | ||
Purchases of investments | (8,975) | (4,286) |
Sales of investments | 3,421 | 2,260 |
Maturities of investments | 1,973 | 1,622 |
Cash paid for acquisitions, net of cash assumed | (2,035) | (1,778) |
Purchases of property, equipment and capitalized software | (813) | (716) |
Other, net | 16 | 48 |
Cash flows used for investing activities | (6,413) | (2,850) |
Financing activities | ||
Common share repurchases | (980) | (953) |
Acquisition of redeemable noncontrolling interest shares | (257) | 0 |
Cash dividends paid | (1,071) | (833) |
Proceeds from common stock issuances | 254 | 242 |
Proceeds from issuance of long-term debt | 2,485 | 0 |
Repayments of long-term debt | (1,601) | (416) |
Proceeds from commercial paper, net | 124 | 1,086 |
Customer funds administered | 1,039 | 941 |
Other, net | (352) | (188) |
Cash flows used for financing activities | (359) | (121) |
Effect of exchange rate changes on cash and cash equivalents | 65 | (69) |
(Decrease) increase in cash and cash equivalents | (2,706) | 392 |
Cash and cash equivalents, beginning of period | 10,923 | 7,495 |
Cash and Cash Equivalents, end of period | $ 8,217 | $ 7,887 |
Basis of Presentation (Notes)
Basis of Presentation (Notes) | 6 Months Ended |
Jun. 30, 2016 | |
Basis of Presentation and Significant Accounting Policies [Text Block] | Basis of Presentation 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. The Company offers a broad spectrum of products and services through two distinct platforms: UnitedHealthcare, which provides health care coverage and benefits services; and Optum, which provides pharmacy care services and information and technology-enabled health services. The Company has prepared the Condensed Consolidated Financial Statements according to U.S. Generally Accepted Accounting Principles (GAAP) and has included the accounts of UnitedHealth Group and its subsidiaries. The year-end condensed consolidated balance sheet was derived from audited financial statements, but does not include all disclosures required by GAAP. In accordance with the rules and regulations of the U.S. Securities and Exchange Commission (SEC), the Company has omitted certain footnote disclosures that would substantially duplicate the disclosures contained in its annual audited Consolidated Financial Statements. Therefore, these Condensed Consolidated Financial Statements should be read together with the Consolidated Financial Statements and the Notes included in Part II, Item 8, “Financial Statements” of the Company’s Annual Report on Form 10-K for the year ended December 31, 2015 as filed with the SEC ( 2015 10-K). The accompanying Condensed Consolidated Financial Statements include all normal recurring adjustments necessary to present the interim financial statements fairly. 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 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. The accounting policies disclosed in Note 2 of Notes to the Consolidated Financial Statements in Part II, Item 8, “Financial Statements” in the 2015 10-K remain unchanged. Reclassification During the fourth quarter of 2015, the Company aligned its accounting policy to conform the presentation of certain pharmacy fulfillment costs related to an acquired 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 $101 million and $202 million , decreased operating costs by $114 million and $229 million and increased cost of products sold by $13 million and $27 million for the three and six months ended June 30, 2015, respectively. The reclassification had no impact on total operating costs, earnings from operations, net earnings, earnings per share or total equity. Recently Issued Accounting Standards In February 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standard Update (ASU) No. 2016-02, “Leases (Topic 842)” (ASU 2016-02). Under ASU 2016-02, an entity will be required to recognize assets and liabilities for the rights and obligations created by leases on the entity’s balance sheet for both finance and operating leases. For leases with a term of 12 months or less, an entity can elect to not recognize lease assets and lease liabilities and expense the lease over a straight-line basis for the term of the lease. ASU 2016-02 will require new disclosures that depict the amount, timing, and uncertainty of cash flows pertaining to an entity’s leases. Companies are required to adopt the new standard using a modified retrospective approach for annual and interim periods beginning after December 15, 2018. Early adoption of ASU 2016-02 is permitted. The Company is currently evaluating the effect of the new leasing guidance. In January 2016, the FASB issued ASU 2016-01, “Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities” (ASU 2016-01). The new guidance changes the current accounting related to (i) the classification and measurement of certain equity investments, (ii) the presentation of changes in the fair value of financial liabilities measured under the fair value option that are due to instrument-specific credit risk, and (iii) certain disclosures associated with the fair value of financial instruments. Most notably, ASU 2016-01 requires that equity investments, with certain exemptions, be measured at fair value with changes in fair value recognized in net income as opposed to other comprehensive income. The new guidance is effective for annual and interim reporting periods beginning after December 15, 2017. The Company is currently evaluating the effect of the new financial instruments guidance. In May 2014, the FASB issued 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 2016-08, “Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net),” ASU No. 2016-10, “Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing,” and ASU No. 2016-12, “Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients.” 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 may 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, interim and annual periods beginning after December 15, 2016, will be permitted. When adopted, the Company does not expect ASU 2014-09 to have a material impact on its consolidated financial position, results of operations, equity or cash flows. Recently Adopted Accounting Standards In March 2016, the FASB issued ASU No. 2016-09, “Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting” (ASU 2016-09). ASU 2016-09 modifies several aspects of the accounting for share-based payment awards, including income tax consequences, and classification on the statement of cash flows. The Company early adopted ASU 2016-09 in the first quarter of 2016. The provisions of ASU 2016-09 related to the timing of when excess tax benefits are recognized, minimum statutory withholding requirements and forfeitures were adopted using a modified retrospective transition method by means of a cumulative-effect adjustment to equity as of January 1, 2016. The provisions of ASU 2016-09 related to the recognition of excess tax benefits in the income statement and classification in the statement of cash flows were adopted prospectively and the prior periods were not retrospectively adjusted. The adoption of ASU 2016-09 did not materially impact the Company’s consolidated financial position, results of operations, equity or cash flows. In November 2015, the FASB issued ASU No. 2015-17, “Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes” (ASU 2015-17). ASU 2015-17 requires entities to present deferred tax assets and deferred tax liabilities as noncurrent on the balance sheet. Prior to the issuance of ASU 2015-17, deferred taxes were required to be presented as a net current asset or liability and a net noncurrent asset or liability. The Company adopted ASU 2015-17 on a prospective basis in the first quarter of 2016 and the prior period was not retrospectively adjusted. The adoption of ASU 2015-17 did not impact the Company’s consolidated financial position, results of operations, equity or cash flows. In April 2015, the FASB issued ASU No. 2015-03, “Interest-Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs” (ASU 2015-03). ASU 2015-03 requires debt issuance costs to be presented as a reduction of the carrying amount of the related debt liability. Prior to the issuance of ASU 2015-03, debt issuance costs were required to be presented as an asset in the balance sheet. The Company adopted ASU 2015-03 on a retrospective basis, as required, in the first quarter of 2016. The Company reclassified $129 million in debt issuance costs that were recorded in other assets on the Consolidated Balance Sheet as of December 31, 2015 to long-term debt, less current maturities. The Company has determined that there have been no other recently adopted or issued accounting standards that had, or will have, a material impact on its Condensed Consolidated Financial Statements. |
Investments (Notes)
Investments (Notes) | 6 Months Ended |
Jun. 30, 2016 | |
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 June 30, 2016 Debt securities - available-for-sale: U.S. government and agency obligations $ 2,401 $ 24 $ — $ 2,425 State and municipal obligations 6,749 260 (1 ) 7,008 Corporate obligations 9,479 170 (11 ) 9,638 U.S. agency mortgage-backed securities 2,580 44 (1 ) 2,623 Non-U.S. agency mortgage-backed securities 930 27 (3 ) 954 Total debt securities - available-for-sale 22,139 525 (16 ) 22,648 Equity securities - available-for-sale 1,804 52 (45 ) 1,811 Debt securities - held-to-maturity: U.S. government and agency obligations 175 3 — 178 State and municipal obligations 7 — — 7 Corporate obligations 327 — — 327 Total debt securities - held-to-maturity 509 3 — 512 Total investments $ 24,452 $ 580 $ (61 ) $ 24,971 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 The amortized cost and fair value of debt securities as of June 30, 2016 , 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 $ 2,872 $ 2,877 $ 139 $ 139 Due after one year through five years 8,341 8,461 175 177 Due after five years through ten years 5,234 5,438 107 107 Due after ten years 2,182 2,295 88 89 U.S. agency mortgage-backed securities 2,580 2,623 — — Non-U.S. agency mortgage-backed securities 930 954 — — Total debt securities $ 22,139 $ 22,648 $ 509 $ 512 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 June 30, 2016 Debt securities - available-for-sale: State and municipal obligations $ 173 $ (1 ) $ — $ — $ 173 $ (1 ) Corporate obligations 1,034 (4 ) 481 (7 ) 1,515 (11 ) U.S. agency mortgage-backed securities — — 114 (1 ) 114 (1 ) Non-U.S. agency mortgage-backed securities — — 129 (3 ) 129 (3 ) Total debt securities - available-for-sale $ 1,207 $ (5 ) $ 724 $ (11 ) $ 1,931 $ (16 ) Equity securities - available-for-sale $ 62 $ (4 ) $ 105 $ (41 ) $ 167 $ (45 ) 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 ) The Company’s unrealized losses from all securities as of June 30, 2016 were generated from approximately 3,000 positions out of a total of 26,000 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. As of June 30, 2016 , 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. Net realized gains reclassified out of accumulated other comprehensive income were from the following sources: Three Months Ended June 30, Six Months Ended June 30, (in millions) 2016 2015 2016 2015 Total other than temporary impairments recognized in earnings $ (1 ) $ (3 ) $ (22 ) $ (4 ) Gross realized losses from sales (4 ) (5 ) (35 ) (11 ) Gross realized gains from sales 41 76 128 86 Net realized gains (included in investment and other income on the Condensed Consolidated Statements of Operations) 36 68 71 71 Income tax effect (included in provision for income taxes on the Condensed Consolidated Statements of Operations) (13 ) (25 ) (26 ) (26 ) Realized gains, net of taxes $ 23 $ 43 $ 45 $ 45 |
Fair Value (Notes)
Fair Value (Notes) | 6 Months Ended |
Jun. 30, 2016 | |
Fair Value Disclosures [Abstract] | |
Fair Value [Text Block] | Fair Value Certain assets and liabilities are measured at fair value in the Condensed Consolidated Financial Statements or have fair values disclosed in the Notes to the Condensed Consolidated Financial Statements. These assets and liabilities are classified into one of three levels of a hierarchy defined by GAAP. For a description of the methods and assumptions that are used to estimate the fair value and determine the fair value hierarchy classification of each class of financial instrument, see Note 5 of Notes to the Consolidated Financial Statements in Part II, Item 8, “Financial Statements” in the 2015 10-K. The Company elected to measure the entirety of the Supplemental Health Insurance Program (AARP Program) assets under management at fair value pursuant to the fair value option. See Note 2 of Notes to the Consolidated Financial Statements in Part II, Item 8, “Financial Statements” in the 2015 10-K for further detail on the AARP Program. 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 Condensed Consolidated Balance Sheets, excluding assets and liabilities related to the AARP Program: (in millions) Quoted Prices in Active Markets (Level 1) Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) Total Fair and Carrying Value June 30, 2016 Cash and cash equivalents $ 8,188 $ 29 $ — $ 8,217 Debt securities - available-for-sale: U.S. government and agency obligations 2,219 206 — 2,425 State and municipal obligations — 7,008 — 7,008 Corporate obligations — 9,537 101 9,638 U.S. agency mortgage-backed securities — 2,623 — 2,623 Non-U.S. agency mortgage-backed securities — 954 — 954 Total debt securities - available-for-sale 2,219 20,328 101 22,648 Equity securities - available-for-sale 1,410 13 388 1,811 Interest rate swap assets — 299 — 299 Total assets at fair value $ 11,817 $ 20,669 $ 489 $ 32,975 Percentage of total assets at fair value 36 % 63 % 1 % 100 % 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 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 the six months ended June 30, 2016 or 2015 . 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 Condensed 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 June 30, 2016 Debt securities - held-to-maturity: U.S. government and agency obligations $ 178 $ — $ — $ 178 $ 175 State and municipal obligations — — 7 7 7 Corporate obligations 91 11 225 327 327 Total debt securities - held-to-maturity $ 269 $ 11 $ 232 $ 512 $ 509 Other assets $ — $ 465 $ — $ 465 $ 466 Long-term debt and other financing obligations $ — $ 32,144 $ — $ 32,144 $ 29,087 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 $ 27,978 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 six months ended June 30, 2016 or 2015 . 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: Three Months Ended Six Months Ended (in millions) Debt Securities Equity Securities Total Debt Securities Equity Securities Total June 30, 2016 Balance at beginning of period $ 98 $ 390 $ 488 $ 98 $ 402 $ 500 Purchases — 8 8 4 20 24 Sales — (2 ) (2 ) (7 ) (4 ) (11 ) Net unrealized gains (losses) in accumulated other comprehensive income 3 (8 ) (5 ) 6 (14 ) (8 ) Net realized losses in investment and other income — — — — (16 ) (16 ) Balance at end of period $ 101 $ 388 $ 489 $ 101 $ 388 $ 489 June 30, 2015 Balance at beginning of period $ 79 $ 309 $ 388 $ 74 $ 310 $ 384 Purchases 6 10 16 10 14 24 Sales (2 ) (13 ) (15 ) (2 ) (14 ) (16 ) Net unrealized gains (losses) in accumulated other comprehensive income 1 — 1 2 (5 ) (3 ) Net realized gains in investment and other income — 13 13 — 14 14 Balance at end of period $ 84 $ 319 $ 403 $ 84 $ 319 $ 403 |
Medicare Part D Pharmacy Benefi
Medicare Part D Pharmacy Benefits (Notes) | 6 Months Ended |
Jun. 30, 2016 | |
Condensed Balance Sheet Statements, Captions [Line Items] | |
Medicare Part D Pharmacy Benefits Contract [Text Block] | Medicare Part D Pharmacy Benefits The Condensed Consolidated Balance Sheets include the following amounts associated with the Medicare Part D program: June 30, 2016 December 31, 2015 (in millions) Subsidies Drug Discount Risk-Share Subsidies Drug Discount Risk-Share Other current receivables $ 1,434 $ 297 $ — $ 1,703 $ 423 $ — Other policy liabilities — 236 510 — 58 496 See Note 2 of Notes to the Consolidated Financial Statements in Part II, Item 8, “Financial Statements” in the 2015 10-K for further detail on Medicare Part D. |
Other Current Receivables (Note
Other Current Receivables (Notes) | 6 Months Ended |
Jun. 30, 2016 | |
Other Current Receivables [Line Items] | |
Other Current Receivables [Text Block] | Other Current Receivables 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. As of June 30, 2016 and December 31, 2015, total pharmaceutical manufacturer rebates receivable included in other receivables in the Condensed Consolidated Balance Sheets amounted to $2.5 billion and $2.6 billion , respectively. See Note 2 of Notes to the Consolidated Financial Statements in Part II, Item 8, “Financial Statements” in the 2015 10-K for more information on the Company’s pharmaceutical manufacturer rebates. |
Medical Costs Reserve Developme
Medical Costs Reserve Development (Notes) | 6 Months Ended |
Jun. 30, 2016 | |
Liability for Claims and Claims Adjustment Expense [Line Items] | |
Medical Cost Development Disclosure Text Block | Medical Costs Reserve Development The following table provides details of the Company’s medical cost reserve development: Three Months Ended June 30, Six Months Ended June 30, (in millions) 2016 2015 2016 2015 Related to prior years $ (60 ) $ (10 ) $ 300 $ 130 Related to current year (40 ) 100 N/A N/A For the three and six months ended June 30, 2016 and June 30, 2015, the medical cost reserve development included a number of individual items, none of which were material. |
Commercial Paper and Long-Term
Commercial Paper and Long-Term Debt (Notes) | 6 Months Ended |
Jun. 30, 2016 | |
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: June 30, 2016 December 31, 2015 (in millions, except percentages) Par Value Carrying Value Fair Value Par Value Carrying Fair Value Commercial paper $ 4,111 $ 4,111 $ 4,111 $ 3,987 $ 3,987 $ 3,987 Floating rate term loan due July 2016 500 500 500 1,500 1,500 1,500 5.375% notes due March 2016 — — — 601 605 606 1.875% notes due November 2016 400 400 401 400 400 403 5.360% notes due November 2016 95 95 97 95 95 98 Floating rate notes due January 2017 750 749 751 750 749 751 6.000% notes due June 2017 441 452 461 441 458 469 1.450% notes due July 2017 750 749 754 750 749 750 1.400% notes due October 2017 625 624 628 625 624 624 6.000% notes due November 2017 156 161 167 156 162 168 1.400% notes due December 2017 750 751 754 750 751 748 6.000% notes due February 2018 1,100 1,110 1,186 1,100 1,114 1,196 1.900% notes due July 2018 1,500 1,495 1,526 1,500 1,494 1,505 1.700% notes due February 2019 750 747 758 — — — 1.625% notes due March 2019 500 502 505 500 502 494 2.300% notes due December 2019 500 512 516 500 499 502 2.700% notes due July 2020 1,500 1,494 1,562 1,500 1,493 1,516 3.875% notes due October 2020 450 467 495 450 452 476 4.700% notes due February 2021 400 427 452 400 413 438 2.125% notes due March 2021 750 745 764 — — — 3.375% notes due November 2021 500 521 540 500 500 517 2.875% notes due December 2021 750 786 790 750 753 760 2.875% notes due March 2022 1,100 1,112 1,149 1,100 1,059 1,099 3.350% notes due July 2022 1,000 995 1,070 1,000 994 1,023 0.000% notes due November 2022 15 11 12 15 10 11 2.750% notes due February 2023 625 645 642 625 611 613 2.875% notes due March 2023 750 821 781 750 781 742 3.750% notes due July 2025 2,000 1,985 2,194 2,000 1,985 2,062 3.100% notes due March 2026 1,000 994 1,043 — — — 4.625% notes due July 2035 1,000 991 1,161 1,000 991 1,038 5.800% notes due March 2036 850 837 1,115 850 838 1,003 6.500% notes due June 2037 500 491 697 500 492 628 6.625% notes due November 2037 650 640 919 650 641 829 6.875% notes due February 2038 1,100 1,074 1,605 1,100 1,076 1,439 5.700% notes due October 2040 300 296 384 300 296 348 5.950% notes due February 2041 350 345 458 350 345 416 4.625% notes due November 2041 600 588 685 600 588 609 4.375% notes due March 2042 502 483 557 502 483 493 3.950% notes due October 2042 625 606 654 625 606 582 4.250% notes due March 2043 750 734 821 750 734 728 4.750% notes due July 2045 2,000 1,971 2,409 2,000 1,971 2,107 Total commercial paper, term loan and long-term debt $ 32,995 $ 33,017 $ 36,074 $ 31,972 $ 31,801 $ 33,278 (a) In the first quarter of 2016, the Company adopted ASU 2015-03, retrospectively as required. See Note 1 of Notes to the Condensed Consolidated Financial Statements for more information on the adoption of ASU 2015-03. The Company’s long-term debt obligations also included $181 million and $164 million of other financing obligations, of which $57 million and $47 million were current as of June 30, 2016 and December 31, 2015 , respectively. Commercial Paper and Bank Credit Facilities Commercial paper consists of short-duration, senior unsecured debt privately placed on a discount basis through broker-dealers. As of June 30, 2016 , 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 December 2016, respectively. These facilities provide liquidity support for the Company’s commercial paper program and are available for general corporate purposes. As of June 30, 2016 , 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 June 30, 2016 , annual interest rates would have ranged from 1.3% to 1.8% . Debt Covenants The Company’s bank credit facilities contain various covenants, including covenants requiring the Company to maintain a defined debt to debt-plus-shareholders’ equity ratio of not more than 55% . The Company was in compliance with its debt covenants as of June 30, 2016 . |
Shareholders' Equity (Notes)
Shareholders' Equity (Notes) | 6 Months Ended |
Jun. 30, 2016 | |
Stockholders' Equity Attributable to Parent [Abstract] | |
Stockholders' Equity Note Disclosure [Text Block] | Shareholders' Equity Dividends In June 2016, the Company’s Board of Directors increased the Company’s quarterly cash dividend to shareholders to an annual dividend rate of $2.50 per share compared to the annual dividend rate of $2.00 per share, which the Company had paid since June 2015. 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 2016 dividend payments: Payment Date Amount per Share Total Amount Paid (in millions) March 22, 2016 $ 0.500 $ 477 June 28, 2016 0.625 594 |
Commitments and Contingencies (
Commitments and Contingencies (Notes) | 6 Months Ended |
Jun. 30, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies Disclosure [Text Block] | Commitments and Contingencies 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 the Centers for Medicare and Medicaid Services (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 matters, 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 the Company’s 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 the Company’s 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 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) | 6 Months Ended |
Jun. 30, 2016 | |
Segment Reporting [Abstract] | |
Segment Financial Information [Text Block] | Segment Financial Information The Company’s four reportable segments are UnitedHealthcare, OptumHealth, OptumInsight and OptumRx . For more information on the Company’s segments see Part I, Item I, “Business” and Note 14 of Notes to the Consolidated Financial Statements in Part II, Item 8, “Financial Statements” in the 2015 10-K. The following table presents the reportable segment financial information: Optum (in millions) UnitedHealthcare OptumHealth OptumInsight OptumRx Optum Eliminations Optum Corporate and Eliminations Consolidated Three Months Ended June 30, 2016 Revenues - external customers: Premiums $ 35,541 $ 872 $ — $ — $ — $ 872 $ — $ 36,413 Products 1 11 17 6,581 — 6,609 — 6,610 Services 1,866 597 639 167 — 1,403 — 3,269 Total revenues - external customers 37,408 1,480 656 6,748 — 8,884 — 46,292 Total revenues - intersegment — 2,541 1,106 8,324 (277 ) 11,694 (11,694 ) — Investment and other income 148 44 — 1 — 45 — 193 Total revenues $ 37,556 $ 4,065 $ 1,762 $ 15,073 $ (277 ) $ 20,623 $ (11,694 ) $ 46,485 Earnings from operations $ 1,942 $ 304 $ 333 $ 624 $ — $ 1,261 $ — $ 3,203 Interest expense — — — — — — (271 ) (271 ) Earnings before income taxes $ 1,942 $ 304 $ 333 $ 624 $ — $ 1,261 $ (271 ) $ 2,932 Three Months Ended June 30, 2015 Revenues - external customers: Premiums $ 31,186 $ 775 $ — $ — $ — $ 775 $ — $ 31,961 Products 1 11 16 1,195 — 1,222 — 1,223 Services 1,715 579 542 29 — 1,150 — 2,865 Total revenues - external customers 32,902 1,365 558 1,224 — 3,147 — 36,049 Total revenues - intersegment — 2,031 851 7,688 (172 ) 10,398 (10,398 ) — Investment and other income 171 42 — 1 — 43 — 214 Total revenues $ 33,073 $ 3,438 $ 1,409 $ 8,913 $ (172 ) $ 13,588 $ (10,398 ) $ 36,263 Earnings from operations $ 2,031 $ 253 $ 271 $ 340 $ — $ 864 $ — $ 2,895 Interest expense — — — — — — (151 ) (151 ) Earnings before income taxes $ 2,031 $ 253 $ 271 $ 340 $ — $ 864 $ (151 ) $ 2,744 Optum (in millions) UnitedHealthcare OptumHealth OptumInsight OptumRx Optum Eliminations Optum Corporate and Eliminations Consolidated Six Months Ended June 30, 2016 Revenues - external customers: Premiums $ 69,504 $ 1,720 $ — $ — $ — $ 1,720 $ — $ 71,224 Products 1 24 37 12,941 — 13,002 — 13,003 Services 3,662 1,209 1,245 293 — 2,747 — 6,409 Total revenues - external customers 73,167 2,953 1,282 13,234 — 17,469 — 90,636 Total revenues - intersegment — 5,026 2,147 16,109 (531 ) 22,751 (22,751 ) — Investment and other income 289 84 — 3 — 87 — 376 Total revenues $ 73,456 $ 8,063 $ 3,429 $ 29,346 $ (531 ) $ 40,307 $ (22,751 ) $ 91,012 Earnings from operations $ 3,796 $ 604 $ 579 $ 1,184 $ — $ 2,367 $ — $ 6,163 Interest expense — — — — — — (530 ) (530 ) Earnings before income taxes $ 3,796 $ 604 $ 579 $ 1,184 $ — $ 2,367 $ (530 ) $ 5,633 Six Months Ended June 30, 2015 Revenues - external customers: Premiums $ 62,091 $ 1,544 $ — $ — $ — $ 1,544 $ — $ 63,635 Products 1 16 36 2,400 — 2,452 — 2,453 Services 3,318 1,100 1,101 52 — 2,253 — 5,571 Total revenues - external customers 65,410 2,660 1,137 2,452 — 6,249 — 71,659 Total revenues - intersegment — 3,994 1,662 14,755 (331 ) 20,080 (20,080 ) — Investment and other income 286 73 — 1 — 74 — 360 Total revenues $ 65,696 $ 6,727 $ 2,799 $ 17,208 $ (331 ) $ 26,403 $ (20,080 ) $ 72,019 Earnings from operations $ 3,929 $ 487 $ 493 $ 626 $ — $ 1,606 $ — $ 5,535 Interest expense — — — — — — (301 ) (301 ) Earnings before income taxes $ 3,929 $ 487 $ 493 $ 626 $ — $ 1,606 $ (301 ) $ 5,234 |
Basis of Presentation (Policies
Basis of Presentation (Policies) | 6 Months Ended |
Jun. 30, 2016 | |
Basis of presentation [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | The Company has prepared the Condensed Consolidated Financial Statements according to U.S. Generally Accepted Accounting Principles (GAAP) and has included the accounts of UnitedHealth Group and its subsidiaries. The year-end condensed consolidated balance sheet was derived from audited financial statements, but does not include all disclosures required by GAAP. In accordance with the rules and regulations of the U.S. Securities and Exchange Commission (SEC), the Company has omitted certain footnote disclosures that would substantially duplicate the disclosures contained in its annual audited Consolidated Financial Statements. Therefore, these Condensed Consolidated Financial Statements should be read together with the Consolidated Financial Statements and the Notes included in Part II, Item 8, “Financial Statements” of the Company’s Annual Report on Form 10-K for the year ended December 31, 2015 as filed with the SEC ( 2015 10-K). The accompanying Condensed Consolidated Financial Statements include all normal recurring adjustments necessary to present the interim financial statements fairly. |
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 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. The accounting policies disclosed in Note 2 of Notes to the Consolidated Financial Statements in Part II, Item 8, “Financial Statements” in the 2015 10-K remain unchanged. |
Reclassification, Policy [Policy Text Block] | Reclassification During the fourth quarter of 2015, the Company aligned its accounting policy to conform the presentation of certain pharmacy fulfillment costs related to an acquired 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 $101 million and $202 million , decreased operating costs by $114 million and $229 million and increased cost of products sold by $13 million and $27 million for the three and six months ended June 30, 2015, respectively. The reclassification had no impact on total operating costs, earnings from operations, net earnings, earnings per share or total equity. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Issued Accounting Standards In February 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standard Update (ASU) No. 2016-02, “Leases (Topic 842)” (ASU 2016-02). Under ASU 2016-02, an entity will be required to recognize assets and liabilities for the rights and obligations created by leases on the entity’s balance sheet for both finance and operating leases. For leases with a term of 12 months or less, an entity can elect to not recognize lease assets and lease liabilities and expense the lease over a straight-line basis for the term of the lease. ASU 2016-02 will require new disclosures that depict the amount, timing, and uncertainty of cash flows pertaining to an entity’s leases. Companies are required to adopt the new standard using a modified retrospective approach for annual and interim periods beginning after December 15, 2018. Early adoption of ASU 2016-02 is permitted. The Company is currently evaluating the effect of the new leasing guidance. In January 2016, the FASB issued ASU 2016-01, “Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities” (ASU 2016-01). The new guidance changes the current accounting related to (i) the classification and measurement of certain equity investments, (ii) the presentation of changes in the fair value of financial liabilities measured under the fair value option that are due to instrument-specific credit risk, and (iii) certain disclosures associated with the fair value of financial instruments. Most notably, ASU 2016-01 requires that equity investments, with certain exemptions, be measured at fair value with changes in fair value recognized in net income as opposed to other comprehensive income. The new guidance is effective for annual and interim reporting periods beginning after December 15, 2017. The Company is currently evaluating the effect of the new financial instruments guidance. In May 2014, the FASB issued 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 2016-08, “Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net),” ASU No. 2016-10, “Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing,” and ASU No. 2016-12, “Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients.” 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 may 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, interim and annual periods beginning after December 15, 2016, will be permitted. When adopted, the Company does not expect ASU 2014-09 to have a material impact on its consolidated financial position, results of operations, equity or cash flows. Recently Adopted Accounting Standards In March 2016, the FASB issued ASU No. 2016-09, “Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting” (ASU 2016-09). ASU 2016-09 modifies several aspects of the accounting for share-based payment awards, including income tax consequences, and classification on the statement of cash flows. The Company early adopted ASU 2016-09 in the first quarter of 2016. The provisions of ASU 2016-09 related to the timing of when excess tax benefits are recognized, minimum statutory withholding requirements and forfeitures were adopted using a modified retrospective transition method by means of a cumulative-effect adjustment to equity as of January 1, 2016. The provisions of ASU 2016-09 related to the recognition of excess tax benefits in the income statement and classification in the statement of cash flows were adopted prospectively and the prior periods were not retrospectively adjusted. The adoption of ASU 2016-09 did not materially impact the Company’s consolidated financial position, results of operations, equity or cash flows. In November 2015, the FASB issued ASU No. 2015-17, “Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes” (ASU 2015-17). ASU 2015-17 requires entities to present deferred tax assets and deferred tax liabilities as noncurrent on the balance sheet. Prior to the issuance of ASU 2015-17, deferred taxes were required to be presented as a net current asset or liability and a net noncurrent asset or liability. The Company adopted ASU 2015-17 on a prospective basis in the first quarter of 2016 and the prior period was not retrospectively adjusted. The adoption of ASU 2015-17 did not impact the Company’s consolidated financial position, results of operations, equity or cash flows. In April 2015, the FASB issued ASU No. 2015-03, “Interest-Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs” (ASU 2015-03). ASU 2015-03 requires debt issuance costs to be presented as a reduction of the carrying amount of the related debt liability. Prior to the issuance of ASU 2015-03, debt issuance costs were required to be presented as an asset in the balance sheet. The Company adopted ASU 2015-03 on a retrospective basis, as required, in the first quarter of 2016. The Company reclassified $129 million in debt issuance costs that were recorded in other assets on the Consolidated Balance Sheet as of December 31, 2015 to long-term debt, less current maturities. |
Investments (Tables)
Investments (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
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 June 30, 2016 Debt securities - available-for-sale: U.S. government and agency obligations $ 2,401 $ 24 $ — $ 2,425 State and municipal obligations 6,749 260 (1 ) 7,008 Corporate obligations 9,479 170 (11 ) 9,638 U.S. agency mortgage-backed securities 2,580 44 (1 ) 2,623 Non-U.S. agency mortgage-backed securities 930 27 (3 ) 954 Total debt securities - available-for-sale 22,139 525 (16 ) 22,648 Equity securities - available-for-sale 1,804 52 (45 ) 1,811 Debt securities - held-to-maturity: U.S. government and agency obligations 175 3 — 178 State and municipal obligations 7 — — 7 Corporate obligations 327 — — 327 Total debt securities - held-to-maturity 509 3 — 512 Total investments $ 24,452 $ 580 $ (61 ) $ 24,971 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 |
Investments by Contractual Maturity [Table Text Block] | The amortized cost and fair value of debt securities as of June 30, 2016 , 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 $ 2,872 $ 2,877 $ 139 $ 139 Due after one year through five years 8,341 8,461 175 177 Due after five years through ten years 5,234 5,438 107 107 Due after ten years 2,182 2,295 88 89 U.S. agency mortgage-backed securities 2,580 2,623 — — Non-U.S. agency mortgage-backed securities 930 954 — — Total debt securities $ 22,139 $ 22,648 $ 509 $ 512 |
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 June 30, 2016 Debt securities - available-for-sale: State and municipal obligations $ 173 $ (1 ) $ — $ — $ 173 $ (1 ) Corporate obligations 1,034 (4 ) 481 (7 ) 1,515 (11 ) U.S. agency mortgage-backed securities — — 114 (1 ) 114 (1 ) Non-U.S. agency mortgage-backed securities — — 129 (3 ) 129 (3 ) Total debt securities - available-for-sale $ 1,207 $ (5 ) $ 724 $ (11 ) $ 1,931 $ (16 ) Equity securities - available-for-sale $ 62 $ (4 ) $ 105 $ (41 ) $ 167 $ (45 ) 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 ) |
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: Three Months Ended June 30, Six Months Ended June 30, (in millions) 2016 2015 2016 2015 Total other than temporary impairments recognized in earnings $ (1 ) $ (3 ) $ (22 ) $ (4 ) Gross realized losses from sales (4 ) (5 ) (35 ) (11 ) Gross realized gains from sales 41 76 128 86 Net realized gains (included in investment and other income on the Condensed Consolidated Statements of Operations) 36 68 71 71 Income tax effect (included in provision for income taxes on the Condensed Consolidated Statements of Operations) (13 ) (25 ) (26 ) (26 ) Realized gains, net of taxes $ 23 $ 43 $ 45 $ 45 |
Fair Value (Tables)
Fair Value (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Schedule of Fair Value, Assets and Liabilities Measured on 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 Condensed Consolidated Balance Sheets, excluding assets and liabilities related to the AARP Program: (in millions) Quoted Prices in Active Markets (Level 1) Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) Total Fair and Carrying Value June 30, 2016 Cash and cash equivalents $ 8,188 $ 29 $ — $ 8,217 Debt securities - available-for-sale: U.S. government and agency obligations 2,219 206 — 2,425 State and municipal obligations — 7,008 — 7,008 Corporate obligations — 9,537 101 9,638 U.S. agency mortgage-backed securities — 2,623 — 2,623 Non-U.S. agency mortgage-backed securities — 954 — 954 Total debt securities - available-for-sale 2,219 20,328 101 22,648 Equity securities - available-for-sale 1,410 13 388 1,811 Interest rate swap assets — 299 — 299 Total assets at fair value $ 11,817 $ 20,669 $ 489 $ 32,975 Percentage of total assets at fair value 36 % 63 % 1 % 100 % 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 |
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 Condensed 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 June 30, 2016 Debt securities - held-to-maturity: U.S. government and agency obligations $ 178 $ — $ — $ 178 $ 175 State and municipal obligations — — 7 7 7 Corporate obligations 91 11 225 327 327 Total debt securities - held-to-maturity $ 269 $ 11 $ 232 $ 512 $ 509 Other assets $ — $ 465 $ — $ 465 $ 466 Long-term debt and other financing obligations $ — $ 32,144 $ — $ 32,144 $ 29,087 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 $ 27,978 |
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: Three Months Ended Six Months Ended (in millions) Debt Securities Equity Securities Total Debt Securities Equity Securities Total June 30, 2016 Balance at beginning of period $ 98 $ 390 $ 488 $ 98 $ 402 $ 500 Purchases — 8 8 4 20 24 Sales — (2 ) (2 ) (7 ) (4 ) (11 ) Net unrealized gains (losses) in accumulated other comprehensive income 3 (8 ) (5 ) 6 (14 ) (8 ) Net realized losses in investment and other income — — — — (16 ) (16 ) Balance at end of period $ 101 $ 388 $ 489 $ 101 $ 388 $ 489 June 30, 2015 Balance at beginning of period $ 79 $ 309 $ 388 $ 74 $ 310 $ 384 Purchases 6 10 16 10 14 24 Sales (2 ) (13 ) (15 ) (2 ) (14 ) (16 ) Net unrealized gains (losses) in accumulated other comprehensive income 1 — 1 2 (5 ) (3 ) Net realized gains in investment and other income — 13 13 — 14 14 Balance at end of period $ 84 $ 319 $ 403 $ 84 $ 319 $ 403 |
Medicare Part D Pharmacy Bene21
Medicare Part D Pharmacy Benefits (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Schedule of Other Current Receivables and Other Policy Liabilities Associated with Medicare Part D Program [Table Text Block] | The Condensed Consolidated Balance Sheets include the following amounts associated with the Medicare Part D program: June 30, 2016 December 31, 2015 (in millions) Subsidies Drug Discount Risk-Share Subsidies Drug Discount Risk-Share Other current receivables $ 1,434 $ 297 $ — $ 1,703 $ 423 $ — Other policy liabilities — 236 510 — 58 496 |
Medical Costs Reserve Develop22
Medical Costs Reserve Development (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Liability for Claims and Claims Adjustment Expense [Line Items] | |
Schedule of Liability for Unpaid Claims and Claims Adjustment Expense [Table Text Block] | The following table provides details of the Company’s medical cost reserve development: Three Months Ended June 30, Six Months Ended June 30, (in millions) 2016 2015 2016 2015 Related to prior years $ (60 ) $ (10 ) $ 300 $ 130 Related to current year (40 ) 100 N/A N/A |
Commercial Paper and Long-Ter23
Commercial Paper and Long-Term Debt (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
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: June 30, 2016 December 31, 2015 (in millions, except percentages) Par Value Carrying Value Fair Value Par Value Carrying Fair Value Commercial paper $ 4,111 $ 4,111 $ 4,111 $ 3,987 $ 3,987 $ 3,987 Floating rate term loan due July 2016 500 500 500 1,500 1,500 1,500 5.375% notes due March 2016 — — — 601 605 606 1.875% notes due November 2016 400 400 401 400 400 403 5.360% notes due November 2016 95 95 97 95 95 98 Floating rate notes due January 2017 750 749 751 750 749 751 6.000% notes due June 2017 441 452 461 441 458 469 1.450% notes due July 2017 750 749 754 750 749 750 1.400% notes due October 2017 625 624 628 625 624 624 6.000% notes due November 2017 156 161 167 156 162 168 1.400% notes due December 2017 750 751 754 750 751 748 6.000% notes due February 2018 1,100 1,110 1,186 1,100 1,114 1,196 1.900% notes due July 2018 1,500 1,495 1,526 1,500 1,494 1,505 1.700% notes due February 2019 750 747 758 — — — 1.625% notes due March 2019 500 502 505 500 502 494 2.300% notes due December 2019 500 512 516 500 499 502 2.700% notes due July 2020 1,500 1,494 1,562 1,500 1,493 1,516 3.875% notes due October 2020 450 467 495 450 452 476 4.700% notes due February 2021 400 427 452 400 413 438 2.125% notes due March 2021 750 745 764 — — — 3.375% notes due November 2021 500 521 540 500 500 517 2.875% notes due December 2021 750 786 790 750 753 760 2.875% notes due March 2022 1,100 1,112 1,149 1,100 1,059 1,099 3.350% notes due July 2022 1,000 995 1,070 1,000 994 1,023 0.000% notes due November 2022 15 11 12 15 10 11 2.750% notes due February 2023 625 645 642 625 611 613 2.875% notes due March 2023 750 821 781 750 781 742 3.750% notes due July 2025 2,000 1,985 2,194 2,000 1,985 2,062 3.100% notes due March 2026 1,000 994 1,043 — — — 4.625% notes due July 2035 1,000 991 1,161 1,000 991 1,038 5.800% notes due March 2036 850 837 1,115 850 838 1,003 6.500% notes due June 2037 500 491 697 500 492 628 6.625% notes due November 2037 650 640 919 650 641 829 6.875% notes due February 2038 1,100 1,074 1,605 1,100 1,076 1,439 5.700% notes due October 2040 300 296 384 300 296 348 5.950% notes due February 2041 350 345 458 350 345 416 4.625% notes due November 2041 600 588 685 600 588 609 4.375% notes due March 2042 502 483 557 502 483 493 3.950% notes due October 2042 625 606 654 625 606 582 4.250% notes due March 2043 750 734 821 750 734 728 4.750% notes due July 2045 2,000 1,971 2,409 2,000 1,971 2,107 Total commercial paper, term loan and long-term debt $ 32,995 $ 33,017 $ 36,074 $ 31,972 $ 31,801 $ 33,278 (a) In the first quarter of 2016, the Company adopted ASU 2015-03, retrospectively as required. See Note 1 of Notes to the Condensed Consolidated Financial Statements for more information on the adoption of ASU 2015-03. |
Shareholders' Equity (Tables)
Shareholders' Equity (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Stockholders' Equity Attributable to Parent [Abstract] | |
Dividends Declared [Table Text Block] | The following table provides details of the Company’s 2016 dividend payments: Payment Date Amount per Share Total Amount Paid (in millions) March 22, 2016 $ 0.500 $ 477 June 28, 2016 0.625 594 |
Segment Financial Information25
Segment Financial Information (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
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 Three Months Ended June 30, 2016 Revenues - external customers: Premiums $ 35,541 $ 872 $ — $ — $ — $ 872 $ — $ 36,413 Products 1 11 17 6,581 — 6,609 — 6,610 Services 1,866 597 639 167 — 1,403 — 3,269 Total revenues - external customers 37,408 1,480 656 6,748 — 8,884 — 46,292 Total revenues - intersegment — 2,541 1,106 8,324 (277 ) 11,694 (11,694 ) — Investment and other income 148 44 — 1 — 45 — 193 Total revenues $ 37,556 $ 4,065 $ 1,762 $ 15,073 $ (277 ) $ 20,623 $ (11,694 ) $ 46,485 Earnings from operations $ 1,942 $ 304 $ 333 $ 624 $ — $ 1,261 $ — $ 3,203 Interest expense — — — — — — (271 ) (271 ) Earnings before income taxes $ 1,942 $ 304 $ 333 $ 624 $ — $ 1,261 $ (271 ) $ 2,932 Three Months Ended June 30, 2015 Revenues - external customers: Premiums $ 31,186 $ 775 $ — $ — $ — $ 775 $ — $ 31,961 Products 1 11 16 1,195 — 1,222 — 1,223 Services 1,715 579 542 29 — 1,150 — 2,865 Total revenues - external customers 32,902 1,365 558 1,224 — 3,147 — 36,049 Total revenues - intersegment — 2,031 851 7,688 (172 ) 10,398 (10,398 ) — Investment and other income 171 42 — 1 — 43 — 214 Total revenues $ 33,073 $ 3,438 $ 1,409 $ 8,913 $ (172 ) $ 13,588 $ (10,398 ) $ 36,263 Earnings from operations $ 2,031 $ 253 $ 271 $ 340 $ — $ 864 $ — $ 2,895 Interest expense — — — — — — (151 ) (151 ) Earnings before income taxes $ 2,031 $ 253 $ 271 $ 340 $ — $ 864 $ (151 ) $ 2,744 Optum (in millions) UnitedHealthcare OptumHealth OptumInsight OptumRx Optum Eliminations Optum Corporate and Eliminations Consolidated Six Months Ended June 30, 2016 Revenues - external customers: Premiums $ 69,504 $ 1,720 $ — $ — $ — $ 1,720 $ — $ 71,224 Products 1 24 37 12,941 — 13,002 — 13,003 Services 3,662 1,209 1,245 293 — 2,747 — 6,409 Total revenues - external customers 73,167 2,953 1,282 13,234 — 17,469 — 90,636 Total revenues - intersegment — 5,026 2,147 16,109 (531 ) 22,751 (22,751 ) — Investment and other income 289 84 — 3 — 87 — 376 Total revenues $ 73,456 $ 8,063 $ 3,429 $ 29,346 $ (531 ) $ 40,307 $ (22,751 ) $ 91,012 Earnings from operations $ 3,796 $ 604 $ 579 $ 1,184 $ — $ 2,367 $ — $ 6,163 Interest expense — — — — — — (530 ) (530 ) Earnings before income taxes $ 3,796 $ 604 $ 579 $ 1,184 $ — $ 2,367 $ (530 ) $ 5,633 Six Months Ended June 30, 2015 Revenues - external customers: Premiums $ 62,091 $ 1,544 $ — $ — $ — $ 1,544 $ — $ 63,635 Products 1 16 36 2,400 — 2,452 — 2,453 Services 3,318 1,100 1,101 52 — 2,253 — 5,571 Total revenues - external customers 65,410 2,660 1,137 2,452 — 6,249 — 71,659 Total revenues - intersegment — 3,994 1,662 14,755 (331 ) 20,080 (20,080 ) — Investment and other income 286 73 — 1 — 74 — 360 Total revenues $ 65,696 $ 6,727 $ 2,799 $ 17,208 $ (331 ) $ 26,403 $ (20,080 ) $ 72,019 Earnings from operations $ 3,929 $ 487 $ 493 $ 626 $ — $ 1,606 $ — $ 5,535 Interest expense — — — — — — (301 ) (301 ) Earnings before income taxes $ 3,929 $ 487 $ 493 $ 626 $ — $ 1,606 $ (301 ) $ 5,234 |
Basis of Presentation Basis of
Basis of Presentation Basis of Presentation, Uses of Estimates and Significant Accounting Policies (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Medical Costs [Member] | |||
Prior Period Reclassification Adjustment | $ 101 | $ 202 | |
Operating Costs [Member] | |||
Prior Period Reclassification Adjustment | (114) | (229) | |
Cost of Products Sold [Member] | |||
Prior Period Reclassification Adjustment | $ 13 | $ 27 | |
Accounting Standards Update 2016-09 [Member] | |||
New Accounting Pronouncement or Change in Accounting Principle, Description of Transition Method | Modified Retrospective and Prospective | ||
Accounting Standards Update 2015-17 [Member] | |||
New Accounting Pronouncement or Change in Accounting Principle, Description of Transition Method | Prospective | ||
Accounting Standards Update 2015-03 [Member] | |||
New Accounting Pronouncement or Change in Accounting Principle, Description of Transition Method | Retrospective | ||
Reclassification from Other Assets to Long-Term Debt, Less Current Maturities [Member] | Accounting Standards Update 2015-03 [Member] | |||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | $ 129 |
Investments (Narrative) (Detail
Investments (Narrative) (Details) | Jun. 30, 2016positions |
Investment [Line Items] | |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 3,000 |
Total number of security positions | 26,000 |
Investments (Short-Term and Lon
Investments (Short-Term and Long-Term Investments) (Details) - USD ($) $ in Millions | Jun. 30, 2016 | Dec. 31, 2015 |
Schedule of Investments [Line Items] | ||
Available-for-sale Debt Securities, Amortized Cost Basis | $ 22,139 | $ 18,539 |
Securities, Available for sale Debt Securities, Gross Unrealized Gains | 525 | 209 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax | (16) | (117) |
Available-for-sale Securities, Debt Securities | 22,648 | 18,631 |
Available-for-sale Equity Securities, Amortized Cost Basis | 1,804 | 1,638 |
Securities, Available for sale Equity Securities, Gross Unrealized Gains | 52 | 58 |
Securities, Available for sale Equity Securities, Gross Unrealized Losses | (45) | (57) |
Available-for-sale Securities, Equity Securities | 1,811 | 1,639 |
Held-to-maturity securities, Amortized Cost | 509 | 510 |
Securities, Held to maturity, Unrecognized Holding Gain | 3 | 1 |
Held-to-maturity Securities, Accumulated Unrecognized Holding Loss | 0 | 0 |
Held-to-maturity Securities, Fair Value | 512 | 511 |
Total investments, Amortized Cost | 24,452 | 20,687 |
Total investments, Gross Unrealized Gains | 580 | 268 |
Total investments, Gross Unrealized Losses | (61) | (174) |
Investments, Fair Value Disclosure | 24,971 | 20,781 |
Debt Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Available-for-sale Securities, Debt Securities | 22,648 | 18,631 |
U.S. Government and Agency Obligations [Member] | ||
Schedule of Investments [Line Items] | ||
Available-for-sale Debt Securities, Amortized Cost Basis | 2,401 | 1,982 |
Securities, Available for sale Debt Securities, Gross Unrealized Gains | 24 | 1 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax | 0 | (6) |
Available-for-sale Securities, Debt Securities | 2,425 | 1,977 |
Held-to-maturity securities, Amortized Cost | 175 | 163 |
Securities, Held to maturity, Unrecognized Holding Gain | 3 | 1 |
Held-to-maturity Securities, Accumulated Unrecognized Holding Loss | 0 | 0 |
Held-to-maturity Securities, Fair Value | 178 | 164 |
State and Municipal Obligations [Member] | ||
Schedule of Investments [Line Items] | ||
Available-for-sale Debt Securities, Amortized Cost Basis | 6,749 | 6,022 |
Securities, Available for sale Debt Securities, Gross Unrealized Gains | 260 | 149 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax | (1) | (3) |
Available-for-sale Securities, Debt Securities | 7,008 | 6,168 |
Held-to-maturity securities, Amortized Cost | 7 | 8 |
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 | 7 | 8 |
Corporate Obligations [Member] | ||
Schedule of Investments [Line Items] | ||
Available-for-sale Debt Securities, Amortized Cost Basis | 9,479 | 7,446 |
Securities, Available for sale Debt Securities, Gross Unrealized Gains | 170 | 41 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax | (11) | (81) |
Available-for-sale Securities, Debt Securities | 9,638 | 7,406 |
Held-to-maturity securities, Amortized Cost | 327 | 339 |
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 | 327 | 339 |
U.S. Agency Mortgage-Backed Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Available-for-sale Debt Securities, Amortized Cost Basis | 2,580 | 2,127 |
Securities, Available for sale Debt Securities, Gross Unrealized Gains | 44 | 13 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax | (1) | (16) |
Available-for-sale Securities, Debt Securities | 2,623 | 2,124 |
Non-U.S. Agency Mortgage-Backed Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Available-for-sale Debt Securities, Amortized Cost Basis | 930 | 962 |
Securities, Available for sale Debt Securities, Gross Unrealized Gains | 27 | 5 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax | (3) | (11) |
Available-for-sale Securities, Debt Securities | $ 954 | $ 956 |
Investments (Amortized Cost and
Investments (Amortized Cost and Fair Value of Available-for-Sale Debt Securities by Contractual Maturity) (Details) - USD ($) $ in Millions | Jun. 30, 2016 | Dec. 31, 2015 |
Schedule of Investments [Line Items] | ||
Available-for-sale, Debt Maturities, Due in one year or less, Amortized Cost | $ 2,872 | |
Available-for-sale, Debt Maturities, Due in one year or less, Fair Value | 2,877 | |
Held-to-maturity Securities, Debt Maturities, within One Year, Net Carrying Amount | 139 | |
Held-to-maturity Securities, Debt Maturities, within one year, Fair Value | 139 | |
Available-for-sale Securities, Debt Maturities, Year Two Through Five, Amortized Cost Basis | 8,341 | |
Available-for-sale Securities, Debt Maturities, Year Two Through Five, Fair Value | 8,461 | |
Held-to-maturity Securities, Debt Maturities, Year Two Through Five, Net Carrying Amount | 175 | |
Held-to-maturity Securities, Debt Maturities, Year Two Through Five, Fair Value | 177 | |
Available-for-sale Securities, Debt Maturities, Due after five years through ten years, Amortized Cost | 5,234 | |
Available-for-sale Securities, Debt Maturities, Due after five years through ten years, Fair Value | 5,438 | |
Held-to-maturity Securities, Debt Maturities, due after five years through ten years, Net Carrying Amount | 107 | |
Held-to-maturity Securities, Debt Maturities, due after five years through ten years, Fair Value | 107 | |
Available-for-sale Securities, Debt Maturities, Due after ten years, Amortized Cost | 2,182 | |
Available-for-sale Securities, Debt Maturities, Due after ten years, Fair Value | 2,295 | |
Held-to-maturity Securities, Debt Maturities, after ten years, Net Carrying Amount | 88 | |
Held-to-maturity Securities, Debt Maturities, after ten years, Fair Value | 89 | |
Available-for-sale Debt Securities, Amortized Cost Basis | 22,139 | $ 18,539 |
Available-for-sale Securities, Debt Securities | 22,648 | 18,631 |
Held-to-maturity securities, Amortized Cost | 509 | 510 |
Held-to-maturity Securities, Fair Value | 512 | 511 |
U.S. Agency Mortgage-Backed Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Mortgage-backed securities, Amortized Cost | 2,580 | |
Mortgage-backed securities, Fair Value | 2,623 | |
Available-for-sale Debt Securities, Amortized Cost Basis | 2,580 | 2,127 |
Available-for-sale Securities, Debt Securities | 2,623 | 2,124 |
Non-U.S. Agency Mortgage-Backed Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Mortgage-backed securities, Amortized Cost | 930 | |
Mortgage-backed securities, Fair Value | 954 | |
Available-for-sale Debt Securities, Amortized Cost Basis | 930 | 962 |
Available-for-sale Securities, Debt Securities | $ 954 | $ 956 |
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 | Jun. 30, 2016 | Dec. 31, 2015 |
Debt Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Less Than 12 Months, Fair Value | $ 1,207 | $ 8,649 |
Less Than 12 Months, Gross Unrealized Losses | (5) | (91) |
Greater Than 12 Months, Fair Value | 724 | 582 |
Greater Than 12 Months, Gross Unrealized Losses | (11) | (26) |
Total, Fair Value | 1,931 | 9,231 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (16) | (117) |
U.S. Government and Agency Obligations [Member] | ||
Schedule of Investments [Line Items] | ||
Less Than 12 Months, Fair Value | 1,473 | |
Less Than 12 Months, Gross Unrealized Losses | (6) | |
Total, Fair Value | 1,473 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (6) | |
State and Municipal Obligations [Member] | ||
Schedule of Investments [Line Items] | ||
Less Than 12 Months, Fair Value | 173 | 650 |
Less Than 12 Months, Gross Unrealized Losses | (1) | (3) |
Total, Fair Value | 173 | 650 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (1) | (3) |
Corporate Obligations [Member] | ||
Schedule of Investments [Line Items] | ||
Less Than 12 Months, Fair Value | 1,034 | 4,629 |
Less Than 12 Months, Gross Unrealized Losses | (4) | (63) |
Greater Than 12 Months, Fair Value | 481 | 339 |
Greater Than 12 Months, Gross Unrealized Losses | (7) | (18) |
Total, Fair Value | 1,515 | 4,968 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (11) | (81) |
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 | 114 | 116 |
Greater Than 12 Months, Gross Unrealized Losses | (1) | (4) |
Total, Fair Value | 114 | 1,420 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (1) | (16) |
Non-U.S. Agency Mortgage-Backed Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Less Than 12 Months, Fair Value | 593 | |
Less Than 12 Months, Gross Unrealized Losses | (7) | |
Greater Than 12 Months, Fair Value | 129 | 127 |
Greater Than 12 Months, Gross Unrealized Losses | (3) | (4) |
Total, Fair Value | 129 | 720 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (3) | (11) |
Equity Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Less Than 12 Months, Fair Value | 62 | 112 |
Less Than 12 Months, Gross Unrealized Losses | (4) | (11) |
Greater Than 12 Months, Fair Value | 105 | 89 |
Greater Than 12 Months, Gross Unrealized Losses | (41) | (46) |
Total, Fair Value | 167 | 201 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | $ (45) | $ (57) |
Investments (Net Realized Gains
Investments (Net Realized Gains) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Schedule of Available-for-sale Securities [Line Items] | ||||
Income tax effect (included in Provision for Income Taxes on the Consolidated Statements of Operations) | $ (1,172) | $ (1,159) | $ (2,246) | $ (2,236) |
Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Total other than temporary impairment recognized in earnings | (1) | (3) | (22) | (4) |
Gross realized losses from sales | (4) | (5) | (35) | (11) |
Gross realized gains from sales | 41 | 76 | 128 | 86 |
Net realized gains (included in investment and other income on the Consolidated Statements of Operations) | 36 | 68 | 71 | 71 |
Income tax effect (included in Provision for Income Taxes on the Consolidated Statements of Operations) | (13) | (25) | (26) | (26) |
Realized gains, net of taxes | $ 23 | $ 43 | $ 45 | $ 45 |
Fair Value (Narrative) (Details
Fair Value (Narrative) (Details) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
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 (Financial Assets an
Fair Value (Financial Assets and Liabilities, Excluding AARP, Measured at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Millions | Jun. 30, 2016 | Dec. 31, 2015 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and cash equivalents | $ 8,217 | $ 10,923 |
Available-for-sale Securities, Debt Securities | 22,648 | 18,631 |
Available-for-sale Securities, Equity Securities | 1,811 | 1,639 |
Interest rate swap assets | 299 | 93 |
Total assets at fair value | $ 32,975 | $ 31,286 |
Percentage of total assets at fair value | 100.00% | 100.00% |
Interest rate swap liabilities | $ 11 | |
Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | $ 22,648 | 18,631 |
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 | 2,425 | 1,977 |
State and Municipal Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 7,008 | 6,168 |
Corporate Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 9,638 | 7,406 |
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 | 2,623 | 2,124 |
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 | 954 | 956 |
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 | 8,188 | 10,906 |
Available-for-sale Securities, Equity Securities | 1,410 | 1,223 |
Interest rate swap assets | 0 | 0 |
Total assets at fair value | $ 11,817 | $ 13,913 |
Percentage of total assets at fair value | 36.00% | 44.00% |
Interest rate swap liabilities | $ 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 | $ 2,219 | 1,784 |
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 | 2,219 | 1,779 |
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 | 0 | 5 |
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 | 29 | 17 |
Available-for-sale Securities, Equity Securities | 13 | 14 |
Interest rate swap assets | 299 | 93 |
Total assets at fair value | $ 20,669 | $ 16,873 |
Percentage of total assets at fair value | 63.00% | 54.00% |
Interest rate swap liabilities | $ 11 | |
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 | $ 20,328 | 16,749 |
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 | 206 | 198 |
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 | 7,008 | 6,168 |
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 | 9,537 | 7,308 |
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 | 2,623 | 2,124 |
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 | 954 | 951 |
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 | 388 | 402 |
Interest rate swap assets | 0 | 0 |
Total assets at fair value | $ 489 | $ 500 |
Percentage of total assets at fair value | 1.00% | 2.00% |
Interest rate swap liabilities | $ 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 | $ 101 | 98 |
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 | 101 | 93 |
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 | $ 0 | $ 5 |
Fair Value (Financial Assets 34
Fair Value (Financial Assets and Liabilities, Excluding AARP, Not Measured at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Millions | Jun. 30, 2016 | Dec. 31, 2015 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Held-to-maturity securities, Amortized Cost | $ 509 | $ 510 | |
Held-to-maturity Securities, Fair Value | 512 | 511 | |
Debt Instrument, Fair Value Disclosure | 36,074 | 33,278 | |
Carrying Value | 33,017 | 31,801 | [1] |
Fair Value, Measurements, Nonrecurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Held-to-maturity Securities, Fair Value | 512 | 511 | |
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 | 269 | 255 | |
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 | 11 | 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 | 232 | 246 | |
U.S. Government and Agency Obligations [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Held-to-maturity securities, Amortized Cost | 175 | 163 | |
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 | 178 | 164 | |
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 | 178 | 164 | |
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, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Held-to-maturity securities, Amortized Cost | 7 | 8 | |
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 | 7 | 8 | |
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 | 7 | 8 | |
Corporate Obligations [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Held-to-maturity securities, Amortized Cost | 327 | 339 | |
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 | 327 | 339 | |
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 | 91 | |
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 | 11 | 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 | 225 | 238 | |
Long-term debt and other financing obligations | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Carrying Value | 29,087 | 27,978 | |
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 | 32,144 | 29,455 | |
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 | 32,144 | 29,455 | |
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, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Other Assets | 466 | 500 | |
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 | 465 | 493 | |
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 | 465 | 493 | |
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 | |
[1] | In the first quarter of 2016, the Company adopted ASU 2015-03, retrospectively as required. See Note 1 of Notes to the Condensed Consolidated Financial Statements for more information on the adoption of ASU 2015-03. |
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 | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Balance at beginning of period | $ 488 | $ 388 | $ 500 | $ 384 |
Purchases | 8 | 16 | 24 | 24 |
Sales | (2) | (15) | (11) | (16) |
Net unrealized (losses) gains in accumulated other comprehensive income | (5) | 1 | (8) | (3) |
Net realized gains (losses) in investment and other income | 0 | 13 | (16) | 14 |
Balance at end of period | 489 | 403 | 489 | 403 |
Debt Securities [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Balance at beginning of period | 98 | 79 | 98 | 74 |
Purchases | 0 | 6 | 4 | 10 |
Sales | 0 | (2) | (7) | (2) |
Net unrealized (losses) gains in accumulated other comprehensive income | 3 | 1 | 6 | 2 |
Net realized gains (losses) in investment and other income | 0 | 0 | 0 | 0 |
Balance at end of period | 101 | 84 | 101 | 84 |
Equity Securities [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Balance at beginning of period | 390 | 309 | 402 | 310 |
Purchases | 8 | 10 | 20 | 14 |
Sales | (2) | (13) | (4) | (14) |
Net unrealized (losses) gains in accumulated other comprehensive income | (8) | 0 | (14) | (5) |
Net realized gains (losses) in investment and other income | 0 | 13 | (16) | 14 |
Balance at end of period | $ 388 | $ 319 | $ 388 | $ 319 |
Medicare Part D Pharmacy Bene36
Medicare Part D Pharmacy Benefits Schedule of Receivables and Payables (Details) - USD ($) $ in Millions | Jun. 30, 2016 | Dec. 31, 2015 |
Other current receivables | $ 7,355 | $ 6,801 |
Other policy liabilities | 8,447 | 7,798 |
CMS Subsidies [Member] | ||
Other current receivables | 1,434 | 1,703 |
Other policy liabilities | 0 | 0 |
Drug Discount [Member] | ||
Other current receivables | 297 | 423 |
Other policy liabilities | 236 | 58 |
Risk-Share [Member] | ||
Other current receivables | 0 | 0 |
Other policy liabilities | $ 510 | $ 496 |
Other Current Receivables (Deta
Other Current Receivables (Details) - USD ($) $ in Millions | Jun. 30, 2016 | Dec. 31, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Other current receivables | $ 7,355 | $ 6,801 |
Pharmaceutical Manufacturer Rebates Receivable [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Other current receivables | $ 2,500 | $ 2,600 |
Medical Costs Reserve Develop38
Medical Costs Reserve Development (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Liability for Claims and Claims Adjustment Expense [Line Items] | ||||
Related to Prior Years | $ (60) | $ (10) | $ 300 | $ 130 |
Related to Current Year | $ (40) | $ 100 |
Commercial Paper and Long-Ter39
Commercial Paper and Long-Term Debt (Narrative) (Details) $ in Millions | 6 Months Ended | |
Jun. 30, 2016USD ($)banks | Dec. 31, 2015USD ($) | |
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) | 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 | 1.30% | |
Five Year $3.0 Billion Credit Facility [Member] | Maximum [Member] | Revolving Credit Facility [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate During Period | 1.80% | |
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 years | |
Number of banks that comprise revolving bank credit facility (banks) | 23 | |
Maximum percentage of indebtedness to total net capital bank covenant | 55.00% | |
Three Year 2.0 Billion Credit Facility [Member] | Minimum [Member] | Revolving Credit Facility [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate During Period | 1.30% | |
Three Year 2.0 Billion Credit Facility [Member] | Maximum [Member] | Revolving Credit Facility [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate During Period | 1.80% | |
364 Day $1.0 Billion Credit Facility [Member] | Revolving Credit Facility [Member] | ||
Debt Instrument [Line Items] | ||
Line of Credit, Current | $ 0 | |
Line of Credit, Credit Facility, Maximum Borrowing Capacity | $ 1,000 | |
Credit Facility, Number of Days | 364 days | |
Number of banks that comprise revolving bank credit facility (banks) | 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 | 1.30% | |
364 Day $1.0 Billion Credit Facility [Member] | Maximum [Member] | Revolving Credit Facility [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate During Period | 1.80% | |
Subsidiaries [Member] | ||
Debt Instrument [Line Items] | ||
Other Long-term Debt | $ 181 | $ 164 |
Other Long-term Debt, Current | $ 57 | $ 47 |
Commercial Paper and Long-Ter40
Commercial Paper and Long-Term Debt (Details) - USD ($) $ in Millions | Jun. 30, 2016 | Dec. 31, 2015 | |
Debt Instrument [Line Items] | |||
Par Value | $ 32,995 | $ 31,972 | |
Carrying Value | 33,017 | 31,801 | [1] |
Fair Value | 36,074 | 33,278 | |
Commercial Paper [Member] | |||
Debt Instrument [Line Items] | |||
Par Value | 4,111 | 3,987 | |
Commercial Paper | 4,111 | 3,987 | [1] |
Fair Value | 4,111 | 3,987 | |
Floating rate Term Loan Due July 2016 [Member] | |||
Debt Instrument [Line Items] | |||
Par Value | 500 | 1,500 | |
Carrying Value | 500 | 1,500 | [1] |
Fair Value | $ 500 | 1,500 | |
5.375% notes due March 2016 [Member] | |||
Debt Instrument [Line Items] | |||
Interest Rate | 5.375% | ||
Par Value | $ 0 | 601 | |
Carrying Value | 0 | 605 | [1] |
Fair Value | $ 0 | 606 | |
1.875% notes due November 2016 [Member] | |||
Debt Instrument [Line Items] | |||
Interest Rate | 1.875% | ||
Par Value | $ 400 | 400 | |
Carrying Value | 400 | 400 | [1] |
Fair Value | $ 401 | 403 | |
5.360% notes due November 2016 [Member] | |||
Debt Instrument [Line Items] | |||
Interest Rate | 5.36% | ||
Par Value | $ 95 | 95 | |
Carrying Value | 95 | 95 | [1] |
Fair Value | 97 | 98 | |
Floating rate notes due January 2017 [Member] | |||
Debt Instrument [Line Items] | |||
Par Value | 750 | 750 | |
Carrying Value | 749 | 749 | [1] |
Fair Value | $ 751 | 751 | |
6.000% notes due June 2017 [Member] | |||
Debt Instrument [Line Items] | |||
Interest Rate | 6.00% | ||
Par Value | $ 441 | 441 | |
Carrying Value | 452 | 458 | [1] |
Fair Value | $ 461 | 469 | |
1.450% notes due July 2017 [Member] | |||
Debt Instrument [Line Items] | |||
Interest Rate | 1.45% | ||
Par Value | $ 750 | 750 | |
Carrying Value | 749 | 749 | [1] |
Fair Value | $ 754 | 750 | |
1.400% notes due October 2017 [Member] | |||
Debt Instrument [Line Items] | |||
Interest Rate | 1.40% | ||
Par Value | $ 625 | 625 | |
Carrying Value | 624 | 624 | [1] |
Fair Value | $ 628 | 624 | |
6.000% notes due November 2017 [Member] | |||
Debt Instrument [Line Items] | |||
Interest Rate | 6.00% | ||
Par Value | $ 156 | 156 | |
Carrying Value | 161 | 162 | [1] |
Fair Value | $ 167 | 168 | |
1.400% notes due December 2017 [Member] | |||
Debt Instrument [Line Items] | |||
Interest Rate | 1.40% | ||
Par Value | $ 750 | 750 | |
Carrying Value | 751 | 751 | [1] |
Fair Value | $ 754 | 748 | |
6.000% notes due February 2018 [Member] | |||
Debt Instrument [Line Items] | |||
Interest Rate | 6.00% | ||
Par Value | $ 1,100 | 1,100 | |
Carrying Value | 1,110 | 1,114 | [1] |
Fair Value | $ 1,186 | 1,196 | |
1.900% notes due July 2018 [Member] | |||
Debt Instrument [Line Items] | |||
Interest Rate | 1.90% | ||
Par Value | $ 1,500 | 1,500 | |
Carrying Value | 1,495 | 1,494 | [1] |
Fair Value | $ 1,526 | 1,505 | |
1.700% Notes due February 2019 [Member] | |||
Debt Instrument [Line Items] | |||
Interest Rate | 1.70% | ||
Par Value | $ 750 | 0 | |
Carrying Value | 747 | 0 | [1] |
Fair Value | $ 758 | 0 | |
1.625% notes due March 2019 [Member] | |||
Debt Instrument [Line Items] | |||
Interest Rate | 1.625% | ||
Par Value | $ 500 | 500 | |
Carrying Value | 502 | 502 | [1] |
Fair Value | $ 505 | 494 | |
2.300% notes due December 2019 [Member] | |||
Debt Instrument [Line Items] | |||
Interest Rate | 2.30% | ||
Par Value | $ 500 | 500 | |
Carrying Value | 512 | 499 | [1] |
Fair Value | $ 516 | 502 | |
2.700% notes due July 2020 [Member] | |||
Debt Instrument [Line Items] | |||
Interest Rate | 2.70% | ||
Par Value | $ 1,500 | 1,500 | |
Carrying Value | 1,494 | 1,493 | [1] |
Fair Value | $ 1,562 | 1,516 | |
3.875% notes due October 2020 [Member] | |||
Debt Instrument [Line Items] | |||
Interest Rate | 3.875% | ||
Par Value | $ 450 | 450 | |
Carrying Value | 467 | 452 | [1] |
Fair Value | $ 495 | 476 | |
4.700% notes due February 2021 [Member] | |||
Debt Instrument [Line Items] | |||
Interest Rate | 4.70% | ||
Par Value | $ 400 | 400 | |
Carrying Value | 427 | 413 | [1] |
Fair Value | $ 452 | 438 | |
2.125% notes due March 2021 [Member] | |||
Debt Instrument [Line Items] | |||
Interest Rate | 2.125% | ||
Par Value | $ 750 | 0 | |
Carrying Value | 745 | 0 | [1] |
Fair Value | $ 764 | 0 | |
3.375% notes due November 2021 [Member] | |||
Debt Instrument [Line Items] | |||
Interest Rate | 3.375% | ||
Par Value | $ 500 | 500 | |
Carrying Value | 521 | 500 | [1] |
Fair Value | $ 540 | 517 | |
2.875% notes due December 2021 [Member] | |||
Debt Instrument [Line Items] | |||
Interest Rate | 2.875% | ||
Par Value | $ 750 | 750 | |
Carrying Value | 786 | 753 | [1] |
Fair Value | $ 790 | 760 | |
2.875% notes due March 2022 [Member] | |||
Debt Instrument [Line Items] | |||
Interest Rate | 2.875% | ||
Par Value | $ 1,100 | 1,100 | |
Carrying Value | 1,112 | 1,059 | [1] |
Fair Value | $ 1,149 | 1,099 | |
3.350% notes due July 2022 [Member] | |||
Debt Instrument [Line Items] | |||
Interest Rate | 3.35% | ||
Par Value | $ 1,000 | 1,000 | |
Carrying Value | 995 | 994 | [1] |
Fair Value | $ 1,070 | 1,023 | |
0.000% notes due November 2022 [Member] | |||
Debt Instrument [Line Items] | |||
Interest Rate | 0.00% | ||
Par Value | $ 15 | 15 | |
Carrying Value | 11 | 10 | [1] |
Fair Value | $ 12 | 11 | |
2.750% notes due February 2023 [Member] | |||
Debt Instrument [Line Items] | |||
Interest Rate | 2.75% | ||
Par Value | $ 625 | 625 | |
Carrying Value | 645 | 611 | [1] |
Fair Value | $ 642 | 613 | |
2.875% notes due March 2023 [Member] | |||
Debt Instrument [Line Items] | |||
Interest Rate | 2.875% | ||
Par Value | $ 750 | 750 | |
Carrying Value | 821 | 781 | [1] |
Fair Value | $ 781 | 742 | |
3.750% notes due July 2025 [Member] | |||
Debt Instrument [Line Items] | |||
Interest Rate | 3.75% | ||
Par Value | $ 2,000 | 2,000 | |
Carrying Value | 1,985 | 1,985 | [1] |
Fair Value | $ 2,194 | 2,062 | |
3.100% notes due March 2026 [Member] | |||
Debt Instrument [Line Items] | |||
Interest Rate | 3.10% | ||
Par Value | $ 1,000 | 0 | |
Carrying Value | 994 | 0 | [1] |
Fair Value | $ 1,043 | 0 | |
4.625% notes due July 2035 [Member] | |||
Debt Instrument [Line Items] | |||
Interest Rate | 4.625% | ||
Par Value | $ 1,000 | 1,000 | |
Carrying Value | 991 | 991 | [1] |
Fair Value | $ 1,161 | 1,038 | |
5.800% notes due March 2036 [Member] | |||
Debt Instrument [Line Items] | |||
Interest Rate | 5.80% | ||
Par Value | $ 850 | 850 | |
Carrying Value | 837 | 838 | [1] |
Fair Value | $ 1,115 | 1,003 | |
6.500% notes due June 2037 [Member] | |||
Debt Instrument [Line Items] | |||
Interest Rate | 6.50% | ||
Par Value | $ 500 | 500 | |
Carrying Value | 491 | 492 | [1] |
Fair Value | $ 697 | 628 | |
6.625% notes due November 2037 [Member] | |||
Debt Instrument [Line Items] | |||
Interest Rate | 6.625% | ||
Par Value | $ 650 | 650 | |
Carrying Value | 640 | 641 | [1] |
Fair Value | $ 919 | 829 | |
6.875% notes due February 2038 [Member] | |||
Debt Instrument [Line Items] | |||
Interest Rate | 6.875% | ||
Par Value | $ 1,100 | 1,100 | |
Carrying Value | 1,074 | 1,076 | [1] |
Fair Value | $ 1,605 | 1,439 | |
5.700% notes due October 2040 [Member] | |||
Debt Instrument [Line Items] | |||
Interest Rate | 5.70% | ||
Par Value | $ 300 | 300 | |
Carrying Value | 296 | 296 | [1] |
Fair Value | $ 384 | 348 | |
5.950% notes due February 2041 [Member] | |||
Debt Instrument [Line Items] | |||
Interest Rate | 5.95% | ||
Par Value | $ 350 | 350 | |
Carrying Value | 345 | 345 | [1] |
Fair Value | $ 458 | 416 | |
4.625% notes due November 2041 [Member] | |||
Debt Instrument [Line Items] | |||
Interest Rate | 4.625% | ||
Par Value | $ 600 | 600 | |
Carrying Value | 588 | 588 | [1] |
Fair Value | $ 685 | 609 | |
4.375% notes due March 2042 [Member] | |||
Debt Instrument [Line Items] | |||
Interest Rate | 4.375% | ||
Par Value | $ 502 | 502 | |
Carrying Value | 483 | 483 | [1] |
Fair Value | $ 557 | 493 | |
3.950% notes due October 2042 [Member] | |||
Debt Instrument [Line Items] | |||
Interest Rate | 3.95% | ||
Par Value | $ 625 | 625 | |
Carrying Value | 606 | 606 | [1] |
Fair Value | $ 654 | 582 | |
4.250% notes due March 2043 [Member] | |||
Debt Instrument [Line Items] | |||
Interest Rate | 4.25% | ||
Par Value | $ 750 | 750 | |
Carrying Value | 734 | 734 | [1] |
Fair Value | $ 821 | 728 | |
4.750% notes due July 2045 [Member] | |||
Debt Instrument [Line Items] | |||
Interest Rate | 4.75% | ||
Par Value | $ 2,000 | 2,000 | |
Carrying Value | 1,971 | 1,971 | [1] |
Fair Value | $ 2,409 | $ 2,107 | |
[1] | In the first quarter of 2016, the Company adopted ASU 2015-03, retrospectively as required. See Note 1 of Notes to the Condensed Consolidated Financial Statements for more information on the adoption of ASU 2015-03. |
Shareholders' Equity (Details)
Shareholders' Equity (Details) - $ / shares | Jun. 30, 2016 | Jun. 30, 2015 |
Stockholders' Equity Attributable to Parent [Abstract] | ||
Cash Dividend Annual Rate Per Share | $ 2.50 | $ 2 |
Shareholders' Equity Dividends
Shareholders' Equity Dividends Paid (Details) - USD ($) $ / shares in Units, $ in Millions | Jun. 28, 2016 | Mar. 22, 2016 | Jun. 30, 2016 | Jun. 30, 2015 |
Common Stock, Dividends, Per Share, Cash Paid | $ 0.625 | $ 0.500 | ||
Payments of Ordinary Dividends, Common Stock | $ 594 | $ 477 | $ 1,071 | $ 833 |
Commitments and Contingencies43
Commitments and Contingencies (Details) - California Claims Processing Matter [Member] - USD ($) $ in Millions | Jun. 09, 2014 | Jan. 25, 2008 | Aug. 31, 2013 | Jun. 30, 2016 |
Loss Contingency [Line Items] | ||||
Estimated Largest Aggregate Penalty Issued By Cdi | $ 8 | |||
CDI aggregate penalty | $ 325 | |||
California Administrative Law Judge [Member] | Judicial Ruling [Member] | ||||
Loss Contingency [Line Items] | ||||
Loss Contingency, Damages Awarded, Value | $ 11.5 | |||
California Insurance Commissioner [Member] | Judicial Ruling [Member] | ||||
Loss Contingency [Line Items] | ||||
Loss Contingency, Damages Awarded, Value | $ 174 |
Segment Financial Information44
Segment Financial Information (Narrative) (Details) | 6 Months Ended |
Jun. 30, 2016 | |
Statement [Line Items] | |
Number of Reportable Segments | 4 |
Segment Financial Information45
Segment Financial Information (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Statement [Line Items] | ||||
Premiums, revenues - external customers | $ 36,413 | $ 31,961 | $ 71,224 | $ 63,635 |
Products, revenues - external customers | 6,610 | 1,223 | 13,003 | 2,453 |
Services, revenues - external customers | 3,269 | 2,865 | 6,409 | 5,571 |
Investment and other income | 193 | 214 | 376 | 360 |
Total revenues | 46,485 | 36,263 | 91,012 | 72,019 |
Earnings from operations | 3,203 | 2,895 | 6,163 | 5,535 |
Interest expense | (271) | (151) | (530) | (301) |
Earnings before income taxes | 2,932 | 2,744 | 5,633 | 5,234 |
Optum [Member] | ||||
Statement [Line Items] | ||||
Investment and other income | 45 | 43 | 87 | 74 |
Total revenues | 20,623 | 13,588 | 40,307 | 26,403 |
Earnings from operations | 1,261 | 864 | 2,367 | 1,606 |
Interest expense | 0 | 0 | 0 | 0 |
Earnings before income taxes | 1,261 | 864 | 2,367 | 1,606 |
External Customers [Member] | ||||
Statement [Line Items] | ||||
Premiums, revenues - external customers | 36,413 | 31,961 | 71,224 | 63,635 |
Products, revenues - external customers | 6,610 | 1,223 | 13,003 | 2,453 |
Services, revenues - external customers | 3,269 | 2,865 | 6,409 | 5,571 |
Total revenues | 46,292 | 36,049 | 90,636 | 71,659 |
External Customers [Member] | Optum [Member] | ||||
Statement [Line Items] | ||||
Premiums, revenues - external customers | 872 | 775 | 1,720 | 1,544 |
Products, revenues - external customers | 6,609 | 1,222 | 13,002 | 2,452 |
Services, revenues - external customers | 1,403 | 1,150 | 2,747 | 2,253 |
Total revenues | 8,884 | 3,147 | 17,469 | 6,249 |
Intersegment [Member] | ||||
Statement [Line Items] | ||||
Total revenues | 0 | 0 | 0 | 0 |
Intersegment [Member] | Optum [Member] | ||||
Statement [Line Items] | ||||
Total revenues | 11,694 | 10,398 | 22,751 | 20,080 |
Operating Segments [Member] | UnitedHealthcare [Member] | ||||
Statement [Line Items] | ||||
Investment and other income | 148 | 171 | 289 | 286 |
Total revenues | 37,556 | 33,073 | 73,456 | 65,696 |
Earnings from operations | 1,942 | 2,031 | 3,796 | 3,929 |
Interest expense | 0 | 0 | 0 | 0 |
Earnings before income taxes | 1,942 | 2,031 | 3,796 | 3,929 |
Operating Segments [Member] | Optumhealth [Member] | ||||
Statement [Line Items] | ||||
Investment and other income | 44 | 42 | 84 | 73 |
Total revenues | 4,065 | 3,438 | 8,063 | 6,727 |
Earnings from operations | 304 | 253 | 604 | 487 |
Interest expense | 0 | 0 | 0 | 0 |
Earnings before income taxes | 304 | 253 | 604 | 487 |
Operating Segments [Member] | Optuminsight [Member] | ||||
Statement [Line Items] | ||||
Investment and other income | 0 | 0 | 0 | 0 |
Total revenues | 1,762 | 1,409 | 3,429 | 2,799 |
Earnings from operations | 333 | 271 | 579 | 493 |
Interest expense | 0 | 0 | 0 | 0 |
Earnings before income taxes | 333 | 271 | 579 | 493 |
Operating Segments [Member] | Optumrx [Member] | ||||
Statement [Line Items] | ||||
Investment and other income | 1 | 1 | 3 | 1 |
Total revenues | 15,073 | 8,913 | 29,346 | 17,208 |
Earnings from operations | 624 | 340 | 1,184 | 626 |
Interest expense | 0 | 0 | 0 | 0 |
Earnings before income taxes | 624 | 340 | 1,184 | 626 |
Operating Segments [Member] | External Customers [Member] | UnitedHealthcare [Member] | ||||
Statement [Line Items] | ||||
Premiums, revenues - external customers | 35,541 | 31,186 | 69,504 | 62,091 |
Products, revenues - external customers | 1 | 1 | 1 | 1 |
Services, revenues - external customers | 1,866 | 1,715 | 3,662 | 3,318 |
Total revenues | 37,408 | 32,902 | 73,167 | 65,410 |
Operating Segments [Member] | External Customers [Member] | Optumhealth [Member] | ||||
Statement [Line Items] | ||||
Premiums, revenues - external customers | 872 | 775 | 1,720 | 1,544 |
Products, revenues - external customers | 11 | 11 | 24 | 16 |
Services, revenues - external customers | 597 | 579 | 1,209 | 1,100 |
Total revenues | 1,480 | 1,365 | 2,953 | 2,660 |
Operating Segments [Member] | External Customers [Member] | Optuminsight [Member] | ||||
Statement [Line Items] | ||||
Premiums, revenues - external customers | 0 | 0 | 0 | 0 |
Products, revenues - external customers | 17 | 16 | 37 | 36 |
Services, revenues - external customers | 639 | 542 | 1,245 | 1,101 |
Total revenues | 656 | 558 | 1,282 | 1,137 |
Operating Segments [Member] | External Customers [Member] | Optumrx [Member] | ||||
Statement [Line Items] | ||||
Premiums, revenues - external customers | 0 | 0 | 0 | 0 |
Products, revenues - external customers | 6,581 | 1,195 | 12,941 | 2,400 |
Services, revenues - external customers | 167 | 29 | 293 | 52 |
Total revenues | 6,748 | 1,224 | 13,234 | 2,452 |
Operating Segments [Member] | Intersegment [Member] | UnitedHealthcare [Member] | ||||
Statement [Line Items] | ||||
Total revenues | 0 | 0 | 0 | 0 |
Operating Segments [Member] | Intersegment [Member] | Optumhealth [Member] | ||||
Statement [Line Items] | ||||
Total revenues | 2,541 | 2,031 | 5,026 | 3,994 |
Operating Segments [Member] | Intersegment [Member] | Optuminsight [Member] | ||||
Statement [Line Items] | ||||
Total revenues | 1,106 | 851 | 2,147 | 1,662 |
Operating Segments [Member] | Intersegment [Member] | Optumrx [Member] | ||||
Statement [Line Items] | ||||
Total revenues | 8,324 | 7,688 | 16,109 | 14,755 |
Optum Eliminations [Member] | ||||
Statement [Line Items] | ||||
Investment and other income | 0 | 0 | 0 | 0 |
Total revenues | (277) | (172) | (531) | (331) |
Earnings from operations | 0 | 0 | 0 | 0 |
Interest expense | 0 | 0 | 0 | 0 |
Earnings before income taxes | 0 | 0 | 0 | 0 |
Optum Eliminations [Member] | External Customers [Member] | ||||
Statement [Line Items] | ||||
Premiums, revenues - external customers | 0 | 0 | 0 | 0 |
Products, revenues - external customers | 0 | 0 | 0 | 0 |
Services, revenues - external customers | 0 | 0 | 0 | 0 |
Total revenues | 0 | 0 | 0 | 0 |
Optum Eliminations [Member] | Intersegment [Member] | ||||
Statement [Line Items] | ||||
Total revenues | (277) | (172) | (531) | (331) |
Corporate and Eliminations [Member] | ||||
Statement [Line Items] | ||||
Investment and other income | 0 | 0 | 0 | 0 |
Total revenues | (11,694) | (10,398) | (22,751) | (20,080) |
Earnings from operations | 0 | 0 | 0 | 0 |
Interest expense | (271) | (151) | (530) | (301) |
Earnings before income taxes | (271) | (151) | (530) | (301) |
Corporate and Eliminations [Member] | External Customers [Member] | ||||
Statement [Line Items] | ||||
Premiums, revenues - external customers | 0 | 0 | 0 | 0 |
Products, revenues - external customers | 0 | 0 | 0 | 0 |
Services, revenues - external customers | 0 | 0 | 0 | 0 |
Total revenues | 0 | 0 | 0 | 0 |
Corporate and Eliminations [Member] | Intersegment [Member] | ||||
Statement [Line Items] | ||||
Total revenues | $ (11,694) | $ (10,398) | $ (22,751) | $ (20,080) |