Document and Entity Information
Document and Entity Information Document - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Jan. 31, 2018 | Jun. 30, 2017 | |
Document Information [Line Items] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2017 | ||
Document Fiscal Year Focus | 2,017 | ||
Document Fiscal Period Focus | FY | ||
Entitiy Registrant Name | UNITEDHEALTH GROUP INC | ||
Entitiy Central Index Key | 731,766 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Large Accelerated Filer | ||
Well known seasoned issuer | Yes | ||
Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Common Stock, Shares Outstanding | 967,662,919 | ||
Closing Share Price | $ 185.42 | ||
Public Float | $ 177,882,211,144 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Current assets: | ||
Cash and cash equivalents | $ 11,981 | $ 10,430 |
Short-term investments | 3,509 | 2,845 |
Accounts receivable, net of allowances of $641 and $514 | 9,568 | 8,152 |
Other current receivables, net of allowances of $440 and $409 | 6,262 | 7,499 |
Assets under management | 3,101 | 3,105 |
Prepaid expenses and other current assets | 2,663 | 1,848 |
Total current assets | 37,084 | 33,879 |
Long-term investments | 28,341 | 23,868 |
Property, equipment and capitalized software, net of accumulated depreciation and amortization of $3,694 and $3,749 | 7,013 | 5,901 |
Goodwill | 54,556 | 47,584 |
Other intangible assets, net of accumulated amortization of $4,309 and $3,847 | 8,489 | 8,541 |
Other assets | 3,575 | 3,037 |
Total assets | 139,058 | 122,810 |
Current liabilities: | ||
Medical costs payable | 17,871 | 16,391 |
Accounts payable and accrued liabilities | 15,180 | 13,361 |
Commercial paper and current maturities of long-term debt | 2,857 | 7,193 |
Unearned revenues | 2,269 | 1,968 |
Other current liabilities | 12,286 | 10,339 |
Total current liabilities | 50,463 | 49,252 |
Long-term debt, less current maturities | 28,835 | 25,777 |
Deferred income taxes | 2,182 | 2,761 |
Other liabilities | 5,556 | 4,831 |
Total liabilities | 87,036 | 82,621 |
Commitments and contingencies (Note 12) | ||
Redeemable noncontrolling interests | 2,189 | 2,012 |
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; 969 and 952 issued and outstanding | 10 | 10 |
Additional paid-in capital | 1,703 | 0 |
Retained earnings | 48,730 | 40,945 |
Accumulated other comprehensive loss | (2,667) | (2,681) |
Nonredeemable noncontrolling interest | 2,057 | (97) |
Total equity | 49,833 | 38,177 |
Total liabilities, redeemable noncontrolling interests and equity | $ 139,058 | $ 122,810 |
Consolidated Balance Sheet (Par
Consolidated Balance Sheet (Parenthetical) - USD ($) shares in Millions, $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Allowance for doubtful accounts, accounts receivable | $ 641 | $ 514 |
Allowance for doubtful accounts, other receivables | 440 | 409 |
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | 3,694 | 3,749 |
Finite-lived Intangible Assets, Accumulated Amortization | $ 4,309 | $ 3,847 |
Common stock, par value | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 3,000 | 3,000 |
Common stock, shares issued | 969 | 952 |
Common Stock, shares outstanding | 969 | 952 |
Preferred stock, par value | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 10 | 10 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Revenues: | |||
Premiums | $ 158,453 | $ 144,118 | $ 127,163 |
Products | 26,366 | 26,658 | 17,312 |
Services | 15,317 | 13,236 | 11,922 |
Investment and other income | 1,023 | 828 | 710 |
Total revenues | 201,159 | 184,840 | 157,107 |
Operating costs: | |||
Medical costs | 130,036 | 117,038 | 103,875 |
Operating costs | 29,557 | 28,401 | 24,312 |
Cost of products sold | 24,112 | 24,416 | 16,206 |
Depreciation and amortization | 2,245 | 2,055 | 1,693 |
Total operating costs | 185,950 | 171,910 | 146,086 |
Earnings from operations | 15,209 | 12,930 | 11,021 |
Interest expense | (1,186) | (1,067) | (790) |
Earnings before income taxes | 14,023 | 11,863 | 10,231 |
Provision for income taxes | (3,200) | (4,790) | (4,363) |
Net earnings | 10,823 | 7,073 | 5,868 |
Earnings attributable to noncontrolling interests | (265) | (56) | (55) |
Net earnings attributable to UnitedHealth Group common shareholders | $ 10,558 | $ 7,017 | $ 5,813 |
Earnings per share attributable to UnitedHealth Group common shareholders: | |||
Basic | $ 10.95 | $ 7.37 | $ 6.10 |
Diluted | $ 10.72 | $ 7.25 | $ 6.01 |
Basic weighted-average number of common shares outstanding | 964 | 952 | 953 |
Dilutive effect of common share equivalents | 21 | 16 | 14 |
Diluted weighted-average number of common shares outstanding | 985 | 968 | 967 |
Anti-dilutive shares excluded from the calculation of dilutive effect of common share equivalents | 5 | 3 | 8 |
Cash dividends declared per common share | $ 2.875 | $ 2.375 | $ 1.875 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Net earnings | $ 10,823 | $ 7,073 | $ 5,868 |
Other comprehensive income (loss): | |||
Gross unrealized gains (losses) on investment securities during the period | 209 | (73) | (123) |
Income tax effect | (72) | 26 | 44 |
Total unrealized gains (losses), net of tax | 137 | (47) | (79) |
Gross reclassification adjustment for net realized gains included in net earnings | (83) | (166) | (141) |
Income tax effect | 30 | 60 | 53 |
Total reclassification adjustment, net of tax | (53) | (106) | (88) |
Total foreign currency translation (losses) gains | (70) | 806 | (1,775) |
Other comprehensive income (loss) | 14 | 653 | (1,942) |
Comprehensive income | 10,837 | 7,726 | 3,926 |
Comprehensive income attributable to noncontrolling interests | (265) | (56) | (55) |
Comprehensive income attributable to UnitedHealth Group common shareholders | $ 10,572 | $ 7,670 | $ 3,871 |
Consolidated Statements of Chan
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 [Member] | Nonredeemable noncontrolling interests [Member] |
Balance at Dec. 31, 2014 | $ 32,454 | $ 10 | $ 0 | $ 33,836 | $ 223 | $ (1,615) | $ 0 |
Balance (in shares) at Dec. 31, 2014 | 954 | ||||||
Net earnings attributable to UnitedHealth Group common shareholders | 5,813 | 5,813 | |||||
Net earnings attributable to nonredeemable noncontrolling interest | 26 | ||||||
Net earnings including portion attributable to nonredeemable noncontrolling interest | 5,839 | ||||||
Other comprehensive income (loss) | (1,942) | (167) | (1,775) | ||||
Issuances of common stock, and related tax effects (in shares) | 10 | ||||||
Issuances of common stock, and related tax effects | 127 | $ 0 | 127 | ||||
Share-based compensation, and related tax benefits | 589 | 589 | |||||
Common shares repurchases, shares | (11) | ||||||
Common share repurchases | (1,200) | $ 0 | (462) | (738) | |||
Cash dividends paid on common shares | (1,786) | (1,786) | |||||
Redeemable noncontrolling interests fair value and other adjustments | (225) | (225) | |||||
Acquisition of nonredeemable noncontrolling interest | 9 | 9 | |||||
Distributions to nonredeemable noncontrolling interest | (140) | (140) | |||||
Balance at Dec. 31, 2015 | 33,725 | $ 10 | 29 | 37,125 | 56 | (3,390) | (105) |
Balance (in shares) at Dec. 31, 2015 | 953 | ||||||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | 28 | 28 | |||||
Net earnings attributable to UnitedHealth Group common shareholders | 7,017 | 7,017 | |||||
Net earnings attributable to nonredeemable noncontrolling interest | 40 | ||||||
Net earnings including portion attributable to nonredeemable noncontrolling interest | 7,057 | ||||||
Other comprehensive income (loss) | 653 | (153) | 806 | ||||
Issuances of common stock, and related tax effects (in shares) | 9 | ||||||
Issuances of common stock, and related tax effects | 191 | $ 0 | 191 | ||||
Share-based Compensation | $ 455 | 455 | |||||
Common shares repurchases, shares | (10) | (10) | |||||
Common share repurchases | $ (1,280) | $ 0 | (316) | (964) | |||
Cash dividends paid on common shares | (2,261) | (2,261) | |||||
Acquisition of redeemable noncontrolling interest shares | (143) | (143) | |||||
Redeemable noncontrolling interests fair value and other adjustments | (216) | (216) | |||||
Distributions to nonredeemable noncontrolling interest | (32) | (32) | |||||
Balance at Dec. 31, 2016 | $ 38,177 | $ 10 | 0 | 40,945 | (97) | (2,584) | (97) |
Balance (in shares) at Dec. 31, 2016 | 952 | 952 | |||||
Net earnings attributable to UnitedHealth Group common shareholders | $ 10,558 | 10,558 | |||||
Net earnings attributable to nonredeemable noncontrolling interest | 194 | ||||||
Net earnings including portion attributable to nonredeemable noncontrolling interest | 10,752 | ||||||
Other comprehensive income (loss) | 14 | 84 | (70) | ||||
Issuances of common stock, and related tax effects (in shares) | 26 | ||||||
Issuances of common stock, and related tax effects | 2,225 | $ 0 | 2,225 | ||||
Share-based Compensation | $ 582 | 582 | |||||
Common shares repurchases, shares | (9) | (9) | |||||
Common share repurchases | $ (1,500) | $ 0 | (1,500) | ||||
Cash dividends paid on common shares | (2,773) | (2,773) | |||||
Acquisition of redeemable noncontrolling interest shares | 283 | 283 | |||||
Redeemable noncontrolling interests fair value and other adjustments | 113 | 113 | |||||
Acquisition of nonredeemable noncontrolling interest | 2,112 | 2,112 | |||||
Distributions to nonredeemable noncontrolling interest | (152) | (152) | |||||
Balance at Dec. 31, 2017 | $ 49,833 | $ 10 | $ 1,703 | $ 48,730 | $ (13) | $ (2,654) | $ 2,057 |
Balance (in shares) at Dec. 31, 2017 | 969 | 969 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Operating activities | |||
Net earnings | $ 10,823 | $ 7,073 | $ 5,868 |
Noncash items: | |||
Depreciation and amortization | 2,245 | 2,055 | 1,693 |
Deferred income taxes | (965) | 81 | (73) |
Share-based compensation | 597 | 485 | 406 |
Other, net | 217 | (82) | (235) |
Net change in other operating items, net of effects from acquisitions and changes in AARP balances: | |||
Accounts receivable | (1,062) | (1,357) | (591) |
Other assets | (630) | (1,601) | (1,430) |
Medical costs payable | 1,284 | 1,849 | 2,585 |
Accounts payable and other liabilities | 930 | 1,494 | 1,280 |
Unearned revenues | 157 | (202) | 237 |
Cash flows from operating activities | 13,596 | 9,795 | 9,740 |
Investing activities | |||
Purchases of investments | (14,588) | (17,547) | (9,939) |
Sales of investments | 4,623 | 7,339 | 6,054 |
Maturities of investments | 5,646 | 4,281 | 3,354 |
Cash paid for acquisitions, net of cash assumed | (2,131) | (1,760) | (16,164) |
Purchases of property, equipment and capitalized software | (2,023) | (1,705) | (1,556) |
Other, net | (126) | 37 | (144) |
Cash flows used for investing activities | (8,599) | (9,355) | (18,395) |
Financing activities | |||
Common share repurchases | (1,500) | (1,280) | (1,200) |
Cash dividends paid | (2,773) | (2,261) | (1,786) |
Proceeds from common stock issuances | 688 | 429 | 402 |
Repayments of long-term debt | (4,398) | (2,596) | (1,041) |
(Repayments of) proceeds from commercial paper, net | (3,508) | (382) | 3,666 |
Proceeds from issuance of long-term debt | 5,291 | 3,968 | 11,982 |
Customer funds administered | 3,172 | 1,692 | 768 |
Other, net | (413) | (581) | (552) |
Cash flows (used for) from financing activities | (3,441) | (1,011) | 12,239 |
Effect of exchange rate changes on cash and cash equivalents | (5) | 78 | (156) |
Increase (decrease) in cash and cash equivalents | 1,551 | (493) | 3,428 |
Cash and cash equivalents, beginning of period | 10,430 | 10,923 | 7,495 |
Cash and cash equivalents, end of period | 11,981 | 10,430 | 10,923 |
Supplemental cash flow disclosures | |||
Cash paid for interest | 1,133 | 1,055 | 639 |
Cash paid for income taxes | 4,004 | 4,726 | 4,401 |
Supplemental schedule of non-cash investing activities | |||
Common stock issued for acquisitions | $ 2,164 | $ 0 | $ 0 |
Description of Business (Notes)
Description of Business (Notes) | 12 Months Ended |
Dec. 31, 2016 | |
Nature of Operations [Text Block] | Description of Business UnitedHealth Group Incorporated (individually and together with its subsidiaries, “UnitedHealth Group” and “the Company”) is a diversified health care company dedicated to helping people live healthier lives and helping make the health system work better for everyone. Through its diversified family of businesses, the Company leverages core competencies in data and health information; advanced technology; and clinical expertise to help meet the demands of the health system. These core competencies are deployed within two distinct, but strategically aligned, business platforms: health benefits operating under UnitedHealthcare and health services operating under Optum. |
Basis of Presentation, Uses of
Basis of Presentation, Uses of Estimates and Significant Accounting Policies (Notes) | 12 Months Ended |
Dec. 31, 2017 | |
Basis of Presentation and Significant Accounting Policies [Text Block] | Basis of Presentation, Use of Estimates and Significant Accounting Policies Basis of Presentation The Company has prepared the Consolidated Financial Statements according to U.S. Generally Accepted Accounting Principles (GAAP) and has included the accounts of UnitedHealth Group and its subsidiaries. Use of Estimates These Consolidated Financial Statements include certain amounts based on the Company’s best estimates and judgments. The Company’s most significant estimates relate to estimates and judgments for medical costs payable and revenues, valuation and impairment analysis of goodwill and other intangible assets and estimates of other current liabilities and other current receivables. 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. Revenues Premiums Premium revenues are primarily derived from risk-based health insurance arrangements in which the premium is typically at a fixed rate per individual served for a one-year period, and the Company assumes the economic risk of funding its customers’ health care and related administrative costs. Premium revenues are recognized in the period in which eligible individuals are entitled to receive health care benefits. Health care premium payments received from the Company’s customers in advance of the service period are recorded as unearned revenues. Fully insured commercial products of U.S. health plans, Medicare Advantage and Medicare Prescription Drug Benefit (Medicare Part D) plans with medical loss ratios as calculated under the definitions in the Patient Protection and Affordable Care Act (ACA) and related federal and state regulations and implementing regulations, that fall below certain targets are required to rebate ratable portions of their premiums annually. Medicare Advantage premium revenue includes the impact of Centers for Medicare & Medicaid Services (CMS) quality bonuses based on plans’ Star ratings. Premium revenues are recognized based on the estimated premiums earned net of projected rebates because the Company is able to reasonably estimate the ultimate premiums of these contracts. The Company also records premium revenues from capitation arrangements at its OptumHealth businesses. The Company’s Medicare Advantage and Medicare Part D premium revenues are subject to periodic adjustment under CMS’ risk adjustment payment methodology. CMS deploys a risk adjustment model that apportions premiums paid to all health plans according to health severity and certain demographic factors. The CMS risk adjustment model provides higher per member payments for enrollees diagnosed with certain conditions and lower payments for enrollees who are healthier. Under this risk adjustment methodology, CMS calculates the risk adjusted premium payment using diagnosis data from hospital inpatient, hospital outpatient and physician treatment settings. The Company and health care providers collect, capture and submit the necessary and available diagnosis data to CMS within prescribed deadlines. The Company estimates risk adjustment premium revenues based upon the diagnosis data submitted and expected to be submitted to CMS. Risk adjustment data for the Company’s plans are subject to review by the government, including audit by regulators. See Note 12 for additional information regarding these audits. Products and Services For the Company’s OptumRx pharmacy care services business, the majority of revenues are derived from products sold through a contracted network of retail pharmacies or home delivery and specialty pharmacy facilities. Product revenues include ingredient costs (net of rebates), a negotiated dispensing fee and customer co-payments for drugs dispensed through the Company’s mail-service pharmacy. In retail pharmacy transactions, revenues recognized exclude the member’s applicable co-payment. Pharmacy products are billed to customers based on the number of transactions occurring during the billing period. Product revenues are recognized when the prescriptions are dispensed through the retail network or received by consumers through the Company’s mail-service pharmacy. The Company has entered into contracts in which it is primarily obligated to pay its network pharmacy providers for benefits provided to their customers regardless of whether the Company is paid. The Company is also involved in establishing the prices charged by retail pharmacies, determining which drugs will be included in formulary listings and selecting which retail pharmacies will be included in the network offered to plan sponsors’ members and accordingly, are reported on a gross basis. Services revenue consists of fees derived from services performed for customers that self-insure the health care costs of their employees and employees’ dependents. Under service fee contracts, the Company receives monthly, a fixed fee per employee, which is recognized as revenue as the Company performs, or makes available the applicable services to the customer. The customers retain the risk of financing health care costs for their employees and employees’ dependents, and the Company administers the payment of customer funds to physicians and other health care professionals from customer-funded bank accounts. As the Company has neither the obligation for funding the health care costs, nor the primary responsibility for providing the medical care, the Company does not recognize premium revenue and medical costs for these contracts in its Consolidated Financial Statements. For these fee-based customer arrangements, the Company provides coordination and facilitation of medical services; transaction processing; customer, consumer and care professional services; and access to contracted networks of physicians, hospitals and other health care professionals. These services are performed throughout the contract period. Revenues are also comprised of a number of services and products sold through Optum. OptumHealth’s service revenues include net patient service revenues that are recorded based upon established billing rates, less allowances for contractual adjustments, and are recognized as services are provided. For its financial services offerings, OptumHealth charges fees and earns investment income on managed funds. OptumInsight provides software and information products, advisory consulting arrangements and services outsourcing contracts, which may be delivered over several years. OptumInsight revenues are generally recognized over time and measured each period based on the progress to date as services are performed or made available to customers. As of December 31, 2017 , accounts receivables related to products and services were $3.7 billion . In 2017 , the Company had no material bad-debt expense and there were no material contract assets, contract liabilities or deferred contract costs recorded on the Consolidated Balance Sheet as of December 31, 2017 . For the year ended December 31, 2017 , revenue recognized from performance obligations related to prior periods (for example, due to changes in transaction price), was not material. Revenue expected to be recognized in any future year related to remaining performance obligations, excluding revenue pertaining to contracts that have an original expected duration of one year or less, contracts where revenue is recognized as invoiced and contracts with variable consideration related to undelivered performance obligations, is not material. See Note 13 for disaggregation of revenue by segment and type. Medical Costs and Medical Costs Payable The Company’s estimate of medical costs payable represents management’s best estimate of its liability for unpaid medical costs as of December 31, 2017. Each period, the Company re-examines previously established medical costs payable estimates based on actual claim submissions and other changes in facts and circumstances. As more complete claim information becomes available, the Company adjusts the amount of the estimates and includes the changes in estimates in medical costs in the period in which the change is identified. Approximately 90% of claims related to medical care services are known and settled within 90 days from the date of service and substantially all within twelve months. Medical costs and medical costs payable include estimates of the Company’s obligations for medical care services that have been rendered on behalf of insured consumers, but for which claims have either not yet been received, processed, or paid. The Company develops estimates for medical care services incurred but not reported (IBNR), which includes estimates for claims that have not been received or fully processed, using an actuarial process that is consistently applied, centrally controlled and automated. The actuarial models consider factors such as time from date of service to claim processing, seasonal variances in medical care consumption, health care professional contract rate changes, medical care utilization and other medical cost trends, membership volume and demographics, the introduction of new technologies, benefit plan changes, and business mix changes related to products, customers and geography. In developing its medical costs payable estimates, the Company applies different estimation methods depending on which incurred claims are being estimated. For the most recent two months, the Company estimates claim costs incurred by applying observed medical cost trend factors to the average per member per month (PMPM) medical costs incurred in prior months for which more complete claim data are available, supplemented by a review of near-term completion factors (actuarial estimates, based upon historical experience and analysis of current trends, of the percentage of incurred claims during a given period that have been adjudicated by the Company at the date of estimation). For months prior to the most recent two months, the Company applies the completion factors to actual claims adjudicated-to-date to estimate the expected amount of ultimate incurred claims for those months. Cost of Products Sold The Company’s cost of products sold includes the cost of pharmaceuticals dispensed to unaffiliated customers either directly at its mail and specialty pharmacy locations, or indirectly through its nationwide network of participating pharmacies. Rebates attributable to non-affiliated clients are accrued as rebates receivable and a reduction of cost of products sold with a corresponding payable for the amounts of the rebates to be remitted to those non-affiliated clients in accordance with their contracts and recorded in the Consolidated Statements of Operations as a reduction of product revenue. Cost of products sold also includes the cost of personnel to support the Company’s transaction processing services, system sales, maintenance and professional services. Cash, Cash Equivalents and Investments Cash and cash equivalents are highly liquid investments that have an original maturity of three months or less. The fair value of cash and cash equivalents approximates their carrying value because of the short maturity of the instruments. Investments with maturities of less than one year are classified as short-term. Because of regulatory requirements, certain investments are included in long-term investments regardless of their maturity date. The Company classifies these investments as held-to-maturity and reports them at amortized cost. Substantially all other investments are classified as available-for-sale and reported at fair value based on quoted market prices, where available. The Company excludes unrealized gains and losses on investments in available-for-sale securities from net earnings and reports them as comprehensive income and, net of income tax effects, as a separate component of equity. To calculate realized gains and losses on the sale of investments, the Company specifically identifies the cost of each investment sold. The Company evaluates an investment for impairment by considering the length of time and extent to which market value has been less than cost or amortized cost, the financial condition and near-term prospects of the issuer as well as specific events or circumstances that may influence the operations of the issuer and the Company’s intent to sell the security or the likelihood that it will be required to sell the security before recovery of the entire amortized cost. New information and the passage of time can change these judgments. The Company manages its investment portfolio to limit its exposure to any one issuer or market sector, and largely limits its investments to investment grade quality. Securities downgraded below policy minimums after purchase will be disposed of in accordance with the Company’s investment policy. Assets Under Management The Company provides health insurance products and services to members of AARP under a Supplemental Health Insurance Program (the AARP Program) and to AARP members and non-members under separate Medicare Advantage and Medicare Part D arrangements. The products and services under the AARP Program include supplemental Medicare benefits, hospital indemnity insurance, including insurance for individuals between 50 to 64 years of age and other related products. Pursuant to the Company’s agreement, AARP Program assets are managed separately from the Company’s general investment portfolio and are used to pay costs associated with the AARP Program. These assets are invested at the Company’s discretion, within investment guidelines approved by AARP. The Company does not guarantee any rates of return on these investments and, upon any transfer of the AARP Program contract to another entity, the Company would transfer cash equal in amount to the fair value of these investments at the date of transfer to that entity. Because the purpose of these assets is to fund the medical costs payable, the rate stabilization fund (RSF) liabilities and other related liabilities associated with this AARP contract, assets under management are classified as current assets, consistent with the classification of these liabilities. The effects of changes in other balance sheet amounts associated with the AARP Program also accrue to the overall benefit of the AARP policyholders through the RSF balance. Accordingly, the Company excludes the effect of such changes in its Consolidated Statements of Cash Flows. Other Current Receivables Other current receivables include amounts due from pharmaceutical manufacturers for rebates and Medicare Part D drug discounts and other miscellaneous amounts due to the Company. The Company’s pharmacy care services businesses contract with pharmaceutical manufacturers, some of which provide rebates based on use of the manufacturers’ products by its affiliated and non-affiliated clients. The Company accrues rebates as they are earned by its clients on a monthly basis based on the terms of the applicable contracts, historical data and current estimates. The pharmacy care services businesses bill these rebates to the manufacturers on a monthly or quarterly basis depending on the contractual terms and record rebates attributable to affiliated clients as a reduction to medical costs. The Company generally receives rebates from two to five months after billing. As of December 31, 2017 and 2016, total pharmaceutical manufacturer rebates receivable included in other receivables in the Consolidated Balance Sheets amounted to $3.8 billion and $3.3 billion , respectively. As of December 31, 2017 and 2016, the Company’s Medicare Part D receivables amounted to $0.5 billion and $1.5 billion , respectively. Property, Equipment and Capitalized Software Property, equipment and capitalized software are stated at cost, net of accumulated depreciation and amortization. Capitalized software consists of certain costs incurred in the development of internal-use software, including external direct costs of materials and services and applicable payroll costs of employees devoted to specific software development. The Company calculates depreciation and amortization using the straight-line method over the estimated useful lives of the assets. The useful lives for property, equipment and capitalized software are: Furniture, fixtures and equipment 3 to 10 years Buildings 35 to 40 years Capitalized software 3 to 5 years Leasehold improvements are depreciated over the shorter of the remaining lease term or their estimated useful economic life. Goodwill To determine whether goodwill is impaired, annually or more frequently if needed, the Company performs a multi-step impairment test. The Company may first assess qualitative factors to determine if it is more likely than not that the carrying value of a reporting unit exceeds its estimated fair value. The Company may also elect to skip the qualitative testing and proceed directly to the quantitative testing. When performing quantitative testing, the Company first estimates the fair values of its reporting units using discounted cash flows. To determine fair values, the Company must make assumptions about a wide variety of internal and external factors. Significant assumptions used in the impairment analysis include financial projections of free cash flow (including significant assumptions about operations, capital requirements and income taxes), long-term growth rates for determining terminal value and discount rates. Comparative market multiples are used to corroborate the results of the discounted cash flow test. If the fair value is less than the carrying value of the reporting unit, then the implied value of goodwill would be calculated and compared to the carrying amount of goodwill to determine whether goodwill is impaired. There was no impairment of goodwill during the year ended December 31, 2017 . Intangible Assets The Company’s intangible assets are subject to impairment tests when events or circumstances indicate that an intangible asset (or asset group) may be impaired. The Company’s indefinite lived intangible assets are also tested for impairment annually. There was no impairment of intangible assets during the year ended December 31, 2017 . Other Current Liabilities Other current liabilities include health savings account deposits ( $6.4 billion and $5.7 billion as of December 31, 2017 and 2016 , respectively), deposits under the Medicare Part D program ( $1.6 billion , and $0.7 billion as of December 31, 2017 and 2016 , respectively), the RSF associated with the AARP Program, accruals for premium rebate payments under the ACA, the current portion of future policy benefits and customer balances. Policy Acquisition Costs The Company’s short duration health insurance contracts typically have a one-year term and may be canceled by the customer with at least 30 days’ notice. Costs related to the acquisition and renewal of short duration customer contracts are charged to expense as incurred. Redeemable Noncontrolling Interests Redeemable noncontrolling interests in the Company’s subsidiaries whose redemption is outside the control of the Company are classified as temporary equity. The following table provides details of the Company's redeemable noncontrolling interests’ activity for the years ended December 31, 2017 and 2016 : (in millions) 2017 2016 Redeemable noncontrolling interests, beginning of period $ 2,012 $ 1,736 Net earnings 71 16 Acquisitions 565 34 Redemptions (309 ) (123 ) Distributions (38 ) (11 ) Fair value and other adjustments (112 ) 360 Redeemable noncontrolling interests, end of period $ 2,189 $ 2,012 Share-Based Compensation The Company recognizes compensation expense for share-based awards, including stock options, stock-settled stock appreciation rights (SARs) and restricted stock and restricted stock units (collectively, restricted shares), on a straight-line basis over the related service period (generally the vesting period) of the award, or to an employee’s eligible retirement date under the award agreement, if earlier. Restricted shares vest ratably, primarily over two to five years and compensation expense related to restricted shares is based on the share price on date of grant. Stock options and SARs vest ratably primarily over four years and may be exercised up to 10 years from the date of grant. Compensation expense related to stock options and SARs is based on the fair value at date of grant, which is estimated on the date of grant using a binomial option-pricing model. Under the Company’s Employee Stock Purchase Plan (ESPP), eligible employees are allowed to purchase the Company’s stock at a discounted price, which is 85% of the lower market price of the Company’s common stock at the beginning or at the end of the six-month purchase period. Share-based compensation expense for all programs is recognized in operating costs in the Consolidated Statements of Operations. Net Earnings Per Common Share The Company computes basic earnings per common share attributable to UnitedHealth Group common shareholders by dividing net earnings attributable to UnitedHealth Group common shareholders by the weighted-average number of common shares outstanding during the period. The Company determines diluted net earnings per common share attributable to UnitedHealth Group common shareholders using the weighted-average number of common shares outstanding during the period, adjusted for potentially dilutive shares associated with stock options, SARs, restricted shares and the ESPP (collectively, common stock equivalents), using the treasury stock method. The treasury stock method assumes a hypothetical issuance of shares to settle the share-based awards, with the assumed proceeds used to purchase common stock at the average market price for the period. Assumed proceeds include the amount the employee must pay upon exercise and any unrecognized compensation cost. The difference between the number of shares assumed issued and number of shares assumed purchased represents the dilutive shares. Health Insurance Industry Tax The ACA includes an annual, nondeductible insurance industry tax (Health Insurance Industry Tax) to be levied proportionally across the insurance industry for risk-based health insurance products. The Company estimates its liability for the Health Insurance Industry Tax based on a ratio of the Company’s applicable net premiums written compared to the U.S. health insurance industry total applicable net premiums, both for the previous calendar year. The Company records in full the estimated liability for the Health Insurance Industry Tax at the beginning of the calendar year with a corresponding deferred cost that is amortized to operating costs on the Consolidated Statements of Operations using a straight-line method over the calendar year. The liability is recorded in accounts payable and accrued liabilities and the corresponding deferred cost is recorded in prepaid expenses and other current assets on the Consolidated Balance Sheets. A provision in the 2016 Federal Budget imposed a one year moratorium for 2017 on the collection of the Health Insurance Industry Tax. 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 may 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 currently 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. When adopted, the Company does not expect ASU 2016-02 to have a material impact on its results of operations, equity or cash flows. The impact of ASU 2016-02 on the Company’s consolidated financial position will be based on leases outstanding at the time of adoption. 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 Company adopted ASU 2016-01 effective January 1, 2018 as required. ASU 2016-01 did not have a material impact on the Company’s consolidated financial position, results of operations, equity or cash flows. Recently Adopted Accounting Standards In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606)” as modified by subsequently issued ASUs 2015-14, 2016-08, 2016-10, 2016-12 and 2016-20 (collectively ASU 2014-09). ASU 2014-09 superseded 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. The Company early adopted the new standard effective January 1, 2017, as allowed, using the modified retrospective approach. A significant majority of the Company’s revenues are not subject to the new guidance. The adoption of ASU 2014-09 did not have a material impact on the Company’s consolidated financial position, results of operations, equity or cash flows as of the adoption date or for the year ended December 31, 2017. 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 Consolidated Financial Statements. |
Investments (Notes)
Investments (Notes) | 12 Months Ended |
Dec. 31, 2017 | |
Investments [Abstract] | |
Investments [Text Block] | Investments A summary of short-term and long-term investments by major security type is as follows: (in millions) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value December 31, 2017 Debt securities - available-for-sale: U.S. government and agency obligations $ 2,673 $ 1 $ (30 ) $ 2,644 State and municipal obligations 7,596 99 (35 ) 7,660 Corporate obligations 13,181 57 (44 ) 13,194 U.S. agency mortgage-backed securities 3,942 7 (38 ) 3,911 Non-U.S. agency mortgage-backed securities 1,018 3 (6 ) 1,015 Total debt securities - available-for-sale 28,410 167 (153 ) 28,424 Equity securities 2,026 7 (41 ) 1,992 Debt securities - held-to-maturity: U.S. government and agency obligations 254 1 (1 ) 254 State and municipal obligations 2 — — 2 Corporate obligations 280 — — 280 Total debt securities - held-to-maturity 536 1 (1 ) 536 Total investments $ 30,972 $ 175 $ (195 ) $ 30,952 December 31, 2016 Debt securities - available-for-sale: U.S. government and agency obligations $ 2,294 $ 1 $ (31 ) $ 2,264 State and municipal obligations 7,120 40 (101 ) 7,059 Corporate obligations 10,944 41 (58 ) 10,927 U.S. agency mortgage-backed securities 2,963 7 (43 ) 2,927 Non-U.S. agency mortgage-backed securities 1,009 3 (10 ) 1,002 Total debt securities - available-for-sale 24,330 92 (243 ) 24,179 Equity securities 2,036 52 (47 ) 2,041 Debt securities - held-to-maturity: U.S. government and agency obligations 250 1 — 251 State and municipal obligations 5 — — 5 Corporate obligations 238 — — 238 Total debt securities - held-to-maturity 493 1 — 494 Total investments $ 26,859 $ 145 $ (290 ) $ 26,714 Nearly all of the Company’s investments in mortgage-backed securities were rated AAA as of December 31, 2017 . The amortized cost and fair value of debt securities as of December 31, 2017 , 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 $ 3,630 $ 3,628 $ 155 $ 155 Due after one year through five years 10,658 10,631 131 130 Due after five years through ten years 6,894 6,932 103 103 Due after ten years 2,268 2,307 147 148 U.S. agency mortgage-backed securities 3,942 3,911 — — Non-U.S. agency mortgage-backed securities 1,018 1,015 — — Total debt securities $ 28,410 $ 28,424 $ 536 $ 536 The fair value of available-for-sale investments with gross unrealized losses by major security type and length of time that individual securities have been in a continuous unrealized loss position were as follows: Less Than 12 Months 12 Months or Greater Total (in millions) Fair Value Gross Unrealized Losses Fair Value Gross Fair Value Gross December 31, 2017 Debt securities - available-for-sale: U.S. government and agency obligations $ 1,249 $ (8 ) $ 1,027 $ (22 ) $ 2,276 $ (30 ) State and municipal obligations 2,599 (21 ) 866 (14 ) 3,465 (35 ) Corporate obligations 5,901 (23 ) 1,242 (21 ) 7,143 (44 ) U.S. agency mortgage-backed securities 1,657 (12 ) 1,162 (26 ) 2,819 (38 ) Non-U.S. agency mortgage-backed securities 411 (3 ) 144 (3 ) 555 (6 ) Total debt securities - available-for-sale $ 11,817 $ (67 ) $ 4,441 $ (86 ) $ 16,258 $ (153 ) Equity securities $ 97 $ (5 ) $ 105 $ (36 ) $ 202 $ (41 ) December 31, 2016 Debt securities - available-for-sale: U.S. government and agency obligations $ 1,794 $ (31 ) $ — $ — $ 1,794 $ (31 ) State and municipal obligations 4,376 (101 ) — — 4,376 (101 ) Corporate obligations 5,128 (56 ) 137 (2 ) 5,265 (58 ) U.S. agency mortgage-backed securities 2,247 (40 ) 79 (3 ) 2,326 (43 ) Non-U.S. agency mortgage-backed securities 544 (7 ) 97 (3 ) 641 (10 ) Total debt securities - available-for-sale $ 14,089 $ (235 ) $ 313 $ (8 ) $ 14,402 $ (243 ) Equity securities $ 93 $ (5 ) $ 91 $ (42 ) $ 184 $ (47 ) The Company’s unrealized losses from all securities as of December 31, 2017 were generated from approximately 13,000 positions out of a total of 29,000 positions. The Company believes that it will collect the principal and interest due on its debt securities that have an amortized cost in excess of fair value. The unrealized losses were primarily caused by interest rate increases and not by unfavorable changes in the credit quality associated with these securities. At each reporting period, the Company evaluates securities for impairment when the fair value of the investment is less than its amortized cost. The Company evaluated the underlying credit quality and credit ratings of the issuers, noting no significant deterioration since purchase. As of December 31, 2017 , the Company did not have the intent to sell any of the securities in an unrealized loss position. Therefore, the Company believes these losses to be temporary. The Company’s investments in equity securities consist of investments in Brazilian real denominated fixed-income funds, employee savings plan related investments and dividend paying stocks. The Company evaluated its investments in equity securities for severity and duration of unrealized loss, overall market volatility and other market factors. Additionally, as of December 31, 2017, the Company’s investments included $898 million of equity method investments in operating businesses in the health care sector. Net realized gains reclassified out of accumulated other comprehensive income were from the following sources: For the Years Ended December 31, (in millions) 2017 2016 2015 Total other-than-temporary impairment recognized in earnings $ (9 ) $ (45 ) $ (22 ) Gross realized losses from sales (33 ) (44 ) (28 ) Gross realized gains from sales 125 255 191 Net realized gains (included in investment and other income on the Consolidated Statements of Operations) 83 166 141 Income tax effect (included in provision for income taxes on the Consolidated Statements of Operations) (30 ) (60 ) (53 ) Realized gains, net of taxes $ 53 $ 106 $ 88 |
Fair Value (Notes)
Fair Value (Notes) | 12 Months Ended |
Dec. 31, 2017 | |
Fair Value Disclosures [Abstract] | |
Fair Value [Text Block] | Fair Value Certain assets and liabilities are measured at fair value in the Consolidated Financial Statements or have fair values disclosed in the Notes to the Consolidated Financial Statements. These assets and liabilities are classified into one of three levels of a hierarchy defined by GAAP. In instances in which the inputs used to measure fair value fall into different levels of the fair value hierarchy, the fair value measurement is categorized in its entirety based on the lowest level input that is significant to the fair value measurement in its entirety. The Company’s assessment of the significance of a particular item to the fair value measurement in its entirety requires judgment, including the consideration of inputs specific to the asset or liability. The fair value hierarchy is summarized as follows: Level 1 — Quoted prices (unadjusted) for identical assets/liabilities in active markets. Level 2 — Other observable inputs, either directly or indirectly, including: • Quoted prices for similar assets/liabilities in active markets; • Quoted prices for identical or similar assets/liabilities in inactive markets (e.g., few transactions, limited information, noncurrent prices, high variability over time); • Inputs other than quoted prices that are observable for the asset/liability (e.g., interest rates, yield curves, implied volatilities, credit spreads); and • Inputs that are corroborated by other observable market data. Level 3 — Unobservable inputs that cannot be corroborated by observable market data. Transfers between levels, if any, are recorded as of the beginning of the reporting period in which the transfer occurs; there was no transfer between Levels 1, 2 or 3 of any financial assets or liabilities during the year ended December 31, 2017 or 2016 . 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 year ended December 31, 2017 or 2016 . The following methods and assumptions were used to estimate the fair value and determine the fair value hierarchy classification of each class of financial instrument included in the tables below: Cash and Cash Equivalents. The carrying value of cash and cash equivalents approximates fair value as maturities are less than three months. Fair values of cash equivalent instruments that do not trade on a regular basis in active markets are classified as Level 2. Debt and Equity Securities. Fair values of debt and equity securities are based on quoted market prices, where available. The Company obtains one price for each security primarily from a third-party pricing service (pricing service), which generally uses quoted or other observable inputs for the determination of fair value. The pricing service normally derives the security prices through recently reported trades for identical or similar securities, and, if necessary, makes adjustments through the reporting date based upon available observable market information. For securities not actively traded, the pricing service may use quoted market prices of comparable instruments or discounted cash flow analyses, incorporating inputs that are currently observable in the markets for similar securities. Inputs that are often used in the valuation methodologies include, but are not limited to, benchmark yields, credit spreads, default rates, prepayment speeds and nonbinding broker quotes. As the Company is responsible for the determination of fair value, it performs quarterly analyses on the prices received from the pricing service to determine whether the prices are reasonable estimates of fair value. Specifically, the Company compares the prices received from the pricing service to prices reported by a secondary pricing source, such as its custodian, its investment consultant and third-party investment advisors. Additionally, the Company compares changes in the reported market values and returns to relevant market indices to test the reasonableness of the reported prices. The Company’s internal price verification procedures and reviews of fair value methodology documentation provided by independent pricing services have not historically resulted in adjustment in the prices obtained from the pricing service. Fair values of debt securities that do not trade on a regular basis in active markets but are priced using other observable inputs are classified as Level 2. Fair value estimates for Level 1 and Level 2 equity securities are based on quoted market prices for actively traded equity securities and/or other market data for the same or comparable instruments and transactions in establishing the prices. The fair values of Level 3 investments in venture capital portfolios are estimated using a market valuation technique that relies heavily on management assumptions and qualitative observations. Under the market approach, the fair values of the Company’s various venture capital investments are computed using limited quantitative and qualitative observations of activity for similar companies in the current market. The Company’s market modeling utilizes, as applicable, transactions for comparable companies in similar industries that also have similar revenue and growth characteristics and preferences in their capital structure. Key significant unobservable inputs in the market technique include implied earnings before interest, taxes, depreciation and amortization (EBITDA) multiples and revenue multiples. Additionally, the fair values of certain of the Company’s venture capital securities are based on recent transactions in inactive markets for identical or similar securities. Significant changes in any of these inputs could result in significantly lower or higher fair value measurements. Throughout the procedures discussed above in relation to the Company’s processes for validating third-party pricing information, the Company validates the understanding of assumptions and inputs used in security pricing and determines the proper classification in the hierarchy based on that understanding. Assets Under Management. Assets under management consists of debt securities and other investments held to fund costs associated with the AARP Program and are priced and classified using the same methodologies as the Company’s investments in debt and equity securities. Long-Term Debt. The fair values of the Company’s long-term debt are estimated and classified using the same methodologies as the Company’s investments in debt securities. The following table presents a summary of fair value measurements by level and carrying values for items measured at fair value on a recurring basis in the Consolidated Balance Sheets: (in millions) Quoted Prices in Active Markets (Level 1) Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) Total Fair and Carrying Value December 31, 2017 Cash and cash equivalents $ 11,718 $ 263 $ — $ 11,981 Debt securities - available-for-sale: U.S. government and agency obligations 2,428 216 — 2,644 State and municipal obligations — 7,660 — 7,660 Corporate obligations 65 12,989 140 13,194 U.S. agency mortgage-backed securities — 3,911 — 3,911 Non-U.S. agency mortgage-backed securities — 1,015 — 1,015 Total debt securities - available-for-sale 2,493 25,791 140 28,424 Equity securities 1,784 14 194 1,992 Assets under management 1,117 1,984 — 3,101 Total assets at fair value $ 17,112 $ 28,052 $ 334 $ 45,498 Percentage of total assets at fair value 38 % 61 % 1 % 100 % December 31, 2016 Cash and cash equivalents $ 10,386 $ 44 $ — $ 10,430 Debt securities - available-for-sale: U.S. government and agency obligations 2,017 247 — 2,264 State and municipal obligations — 7,059 — 7,059 Corporate obligations 21 10,804 102 10,927 U.S. agency mortgage-backed securities — 2,927 — 2,927 Non-U.S. agency mortgage-backed securities — 1,002 — 1,002 Total debt securities - available-for-sale 2,038 22,039 102 24,179 Equity securities 1,591 13 437 2,041 Assets under management 1,064 2,041 — 3,105 Total assets at fair value $ 15,079 $ 24,137 $ 539 $ 39,755 Percentage of total assets at fair value 38 % 61 % 1 % 100 % The following table presents a summary of fair value measurements by level and carrying values for certain financial instruments not measured at fair value on a recurring basis in the Consolidated Balance Sheets: (in millions) Quoted Prices in Active Markets (Level 1) Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) Total Fair Value Total Carrying Value December 31, 2017 Debt securities - held-to-maturity: U.S. government and agency obligations $ 251 $ 3 $ — $ 254 $ 254 State and municipal obligations — — 2 2 2 Corporate obligations 16 1 263 280 280 Total debt securities - held-to-maturity $ 267 $ 4 $ 265 $ 536 $ 536 Long-term debt and other financing obligations $ — $ 34,504 $ — $ 34,504 $ 31,542 December 31, 2016 Debt securities - held-to-maturity: U.S. government and agency obligations $ 251 $ — $ — $ 251 $ 250 State and municipal obligations — — 5 5 5 Corporate obligations 20 8 210 238 238 Total debt securities - held-to-maturity $ 271 $ 8 $ 215 $ 494 $ 493 Long-term debt and other financing obligations $ — $ 31,295 $ — $ 31,295 $ 29,337 The carrying amounts reported on the Consolidated Balance Sheets for other current financial assets and liabilities approximate fair value because of their short-term nature. These assets and liabilities are not listed in the table above. |
Property, Plant, and Capitalize
Property, Plant, and Capitalized Software (Notes) | 12 Months Ended |
Dec. 31, 2017 | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment Disclosure [Text Block] | Property, Equipment and Capitalized Software A summary of property, equipment and capitalized software is as follows: (in millions) December 31, 2017 December 31, 2016 Land and improvements $ 405 $ 324 Buildings and improvements 3,664 3,148 Computer equipment 1,829 2,021 Furniture and fixtures 1,208 999 Less accumulated depreciation (2,488 ) (2,621 ) Property and equipment, net 4,618 3,871 Capitalized software 3,601 3,158 Less accumulated amortization (1,206 ) (1,128 ) Capitalized software, net 2,395 2,030 Total property, equipment and capitalized software, net $ 7,013 $ 5,901 Depreciation expense for property and equipment for the years ended December 31, 2017 , 2016 and 2015 was $799 million , $698 million and $613 million , respectively. Amortization expense for capitalized software for the years ended December 31, 2017 , 2016 and 2015 was $550 million , $475 million and $430 million , respectively. |
Goodwill and Intangible Assets
Goodwill and Intangible Assets (Notes) | 12 Months Ended |
Dec. 31, 2017 | |
Goodwill [Line Items] | |
Goodwill Disclosure [Text Block] | Goodwill and Other Intangible Assets Changes in the carrying amount of goodwill, by reportable segment, were as follows: (in millions) UnitedHealthcare OptumHealth OptumInsight OptumRx Consolidated Balance at January 1, 2016 $ 22,925 $ 5,660 $ 4,296 $ 11,572 $ 44,453 Acquisitions 526 683 — 1,387 2,596 Foreign currency effects and adjustments, net 403 (21 ) 153 — 535 Balance at December 31, 2016 23,854 6,322 4,449 12,959 47,584 Acquisitions 690 5,189 1,221 — 7,100 Foreign currency effects and adjustments, net (60 ) (23 ) 4 (49 ) (128 ) Balance at December 31, 2017 $ 24,484 $ 11,488 $ 5,674 $ 12,910 $ 54,556 The gross carrying value, accumulated amortization and net carrying value of other intangible assets were as follows: December 31, 2017 December 31, 2016 (in millions) Gross Carrying Value Accumulated Amortization Net Carrying Value Gross Carrying Value Accumulated Amortization Net Carrying Value Customer-related $ 10,832 $ (3,743 ) $ 7,089 $ 10,942 $ (3,416 ) $ 7,526 Trademarks and technology 1,054 (432 ) 622 720 (323 ) 397 Trademarks and other indefinite-lived 561 — 561 468 — 468 Other 351 (134 ) 217 258 (108 ) 150 Total $ 12,798 $ (4,309 ) $ 8,489 $ 12,388 $ (3,847 ) $ 8,541 The acquisition date fair values and weighted-average useful lives assigned to finite-lived intangible assets acquired in business combinations consisted of the following by year of acquisition: 2017 2016 (in millions, except years) Fair Value Weighted-Average Useful Life Fair Value Weighted-Average Useful Life Customer-related $ 324 13 years $ 785 17 years Trademarks and technology 367 11 years 82 4 years Other 82 6 years 22 5 years Total acquired finite-lived intangible assets $ 773 11 years $ 889 16 years Estimated full year amortization expense relating to intangible assets for each of the next five years ending December 31 is as follows: (in millions) 2018 $ 833 2019 756 2020 665 2021 600 2022 528 Amortization expense relating to intangible assets for the years ended December 31, 2017 , 2016 and 2015 was $896 million , $882 million and $650 million , respectively. |
Medical Costs Payable (Notes)
Medical Costs Payable (Notes) | 12 Months Ended |
Dec. 31, 2017 | |
Medical Costs Payable | Medical Costs Payable The following table shows the components of the change in medical costs payable for the years ended December 31: (in millions) 2017 2016 2015 Medical costs payable, beginning of period $ 16,391 $ 14,330 $ 12,040 Acquisitions 83 — — Reported medical costs: Current year 130,726 117,258 104,195 Prior years (690 ) (220 ) (320 ) Total reported medical costs 130,036 117,038 103,875 Medical payments: Payments for current year (113,811 ) (101,696 ) (90,630 ) Payments for prior years (14,828 ) (13,281 ) (10,955 ) Total medical payments (128,639 ) (114,977 ) (101,585 ) Medical costs payable, end of period $ 17,871 $ 16,391 $ 14,330 For the year ended December 31, 2017 , medical cost reserve development was primarily driven by lower than expected health system utilization levels. For the years ended December 31, 2016 and 2015 , no individual factors were significant . Medical costs payable included IBNR of $12.3 billion and $11.6 billion at December 31, 2017 and 2016 , respectively. Substantially all of the IBNR balance as of December 31, 2017 relates to the current year. The following is information about incurred and paid medical cost development as of December 31, 2017 : Net Incurred Medical Costs (in millions) For the Years ended December 31, Year 2016 2017 2016 $ 117,258 $ 116,622 2017 130,726 Total $ 247,348 Net Cumulative Medical Payments (in millions) For the Years ended December 31, Year 2016 2017 2016 $ (101,696 ) $ (116,187 ) 2017 (113,811 ) Total (229,998 ) Net remaining outstanding liabilities prior to 2016 521 Total medical costs payable $ 17,871 |
Commercial Paper and Long-Term
Commercial Paper and Long-Term Debt (Notes) | 12 Months Ended |
Dec. 31, 2017 | |
Debt Disclosure [Abstract] | |
Commercial Paper and Long-Term Debt [Text Block] | Commercial Paper and Long-Term Debt Commercial paper and senior unsecured long-term debt consisted of the following: December 31, 2017 December 31, 2016 (in millions, except percentages) Par Value Carrying Value Fair Value Par Value Carrying Value Fair Value Commercial paper $ 150 $ 150 $ 150 $ 3,633 $ 3,633 $ 3,633 Floating rate notes due January 2017 — — — 750 750 750 6.000% notes due June 2017 — — — 441 446 450 1.450% notes due July 2017 — — — 750 750 751 1.400% notes due October 2017 — — — 625 624 626 6.000% notes due November 2017 — — — 156 159 163 1.400% notes due December 2017 — — — 750 751 750 6.000% notes due February 2018 1,100 1,101 1,106 1,100 1,107 1,153 1.900% notes due July 2018 1,500 1,499 1,501 1,500 1,496 1,507 1.700% notes due February 2019 750 749 747 750 748 748 1.625% notes due March 2019 500 501 497 500 501 498 2.300% notes due December 2019 500 495 501 500 498 504 2.700% notes due July 2020 1,500 1,496 1,517 1,500 1,495 1,523 Floating rate notes due October 2020 300 299 300 — — — 3.875% notes due October 2020 450 446 467 450 450 474 1.950% notes due October 2020 900 895 892 — — — 4.700% notes due February 2021 400 403 425 400 409 433 2.125% notes due March 2021 750 746 744 750 745 741 3.375% notes due November 2021 500 493 516 500 497 519 2.875% notes due December 2021 750 741 760 750 748 760 2.875% notes due March 2022 1,100 1,054 1,114 1,100 1,057 1,114 3.350% notes due July 2022 1,000 996 1,033 1,000 995 1,030 2.375% notes due October 2022 900 893 891 — — — 0.000% notes due November 2022 15 12 12 15 11 12 2.750% notes due February 2023 625 606 626 625 609 622 2.875% notes due March 2023 750 762 759 750 771 753 3.750% notes due July 2025 2,000 1,987 2,108 2,000 1,986 2,070 3.100% notes due March 2026 1,000 995 1,007 1,000 994 986 3.450% notes due January 2027 750 745 776 750 745 762 3.375% notes due April 2027 625 618 642 — — — 2.950% notes due October 2027 950 937 947 — — — 4.625% notes due July 2035 1,000 991 1,165 1,000 991 1,090 5.800% notes due March 2036 850 837 1,105 850 837 1,034 6.500% notes due June 2037 500 491 698 500 491 643 6.625% notes due November 2037 650 641 923 650 640 850 6.875% notes due February 2038 1,100 1,075 1,596 1,100 1,075 1,497 5.700% notes due October 2040 300 296 389 300 296 366 5.950% notes due February 2041 350 345 466 350 345 437 4.625% notes due November 2041 600 588 685 600 588 634 4.375% notes due March 2042 502 483 555 502 483 509 3.950% notes due October 2042 625 607 650 625 606 609 4.250% notes due March 2043 750 734 822 750 734 765 4.750% notes due July 2045 2,000 1,972 2,362 2,000 1,972 2,203 4.200% notes due January 2047 750 738 808 750 737 759 4.250% notes due April 2047 725 717 798 — — — 3.750% notes due October 2047 950 933 969 — — — Total commercial paper and long-term debt $ 31,417 $ 31,067 $ 34,029 $ 33,022 $ 32,770 $ 34,728 In 2017, the Company repaid $926 million in debt assumed in connection with an acquisition. The Company’s long-term debt obligations also included $625 million and $200 million of other financing obligations, of which $107 million and $80 million were current as of December 31, 2017 and 2016 , respectively. Maturities of commercial paper and long-term debt for the years ending December 31 are as follows: (in millions) 2018 $ 2,857 2019 1,850 2020 3,250 2021 2,500 2022 3,115 Thereafter 18,470 Commercial Paper and Revolving Bank Credit Facilities Commercial paper consists of short-duration, senior unsecured debt privately placed on a discount basis through broker-dealers. As of December 31, 2017 , the Company’s outstanding commercial paper had a weighted-average annual interest rate of 1.5% . The Company has $3.0 billion five-year, $3.0 billion three-year and $4.0 billion 364-day revolving bank credit facilities with 26 banks, which mature in December 2022 , December 2020 and December 2018 , respectively. These facilities provide liquidity support for the Company’s commercial paper program and are available for general corporate purposes. As of December 31, 2017 , no amounts had been drawn on any of the bank credit facilities. The annual interest rates, which are variable based on term, are calculated based on the London Interbank Offered Rate (LIBOR) plus a credit spread based on the Company’s senior unsecured credit ratings. If amounts had been drawn on the bank credit facilities as of December 31, 2017 , annual interest rates would have ranged from 2.4% to 2.7% . Debt Covenants The Company’s bank credit facilities contain various covenants, including requiring the Company to maintain a debt to debt-plus-shareholders’ equity ratio of not more than 55% . The Company was in compliance with its debt covenants as of December 31, 2017 . |
Income Taxes (Notes)
Income Taxes (Notes) | 12 Months Ended |
Dec. 31, 2017 | |
Income Tax Examination [Line Items] | |
Income Tax Disclosure [Text Block] | Income Taxes The current income tax provision reflects the tax consequences of revenues and expenses currently taxable or deductible on various income tax returns for the year reported. The deferred income tax provision or benefit generally reflects the net change in deferred income tax assets and liabilities during the year, excluding any deferred income tax assets and liabilities of acquired businesses. The components of the provision for income taxes for the years ended December 31 are as follows: (in millions) 2017 2016 2015 Current Provision: Federal $ 3,597 $ 4,302 $ 4,109 State and local 314 312 281 Foreign 254 95 46 Total current provision 4,165 4,709 4,436 Deferred (benefit) provision (965 ) 81 (73 ) Total provision for income taxes $ 3,200 $ 4,790 $ 4,363 . The reconciliation of the tax provision at the U.S. federal statutory rate to the provision for income taxes and the effective tax rate for the years ended December 31 is as follows: (in millions, except percentages) 2017 2016 2015 Tax provision at the U.S. federal statutory rate $ 4,908 35.0 % $ 4,152 35.0 % $ 3,581 35.0 % Change in tax law (1,199 ) (8.6 ) — — — — State income taxes, net of federal benefit 197 1.4 205 1.7 145 1.4 Share-based awards - excess tax benefit (319 ) (2.3 ) (158 ) (1.3 ) — — Non-deductible compensation 175 1.3 128 1.1 103 1.0 Health insurance industry tax — — 645 5.4 627 6.1 Foreign rate differential (282 ) (2.0 ) (105 ) (0.9 ) (34 ) (0.3 ) Other, net (280 ) (2.0 ) (77 ) (0.6 ) (59 ) (0.6 ) Provision for income taxes $ 3,200 22.8 % $ 4,790 40.4 % $ 4,363 42.6 % Deferred income tax assets and liabilities are recognized for the differences between the financial and income tax reporting bases of assets and liabilities based on enacted tax rates and laws. The components of deferred income tax assets and liabilities as of December 31 are as follows: (in millions) 2017 2016 Deferred income tax assets: Accrued expenses and allowances $ 544 $ 820 U.S. federal and state net operating loss carryforwards 216 147 Share-based compensation 97 126 Nondeductible liabilities 169 236 Non-U.S. tax loss carryforwards 445 434 Other-domestic 167 476 Other-non-U.S. 198 175 Subtotal 1,836 2,414 Less: valuation allowances (64 ) (55 ) Total deferred income tax assets 1,772 2,359 Deferred income tax liabilities: U.S. federal and state intangible assets (1,998 ) (3,055 ) Non-U.S. goodwill and intangible assets (602 ) (584 ) Capitalized software (530 ) (707 ) Depreciation and amortization (236 ) (332 ) Prepaid expenses (223 ) (228 ) Outside basis in partnerships (279 ) (132 ) Other-non-U.S. (86 ) (82 ) Total deferred income tax liabilities (3,954 ) (5,120 ) Net deferred income tax liabilities $ (2,182 ) $ (2,761 ) On December 22, 2017, the U.S. federal government enacted a tax bill, H.R.1, An Act to Provide for Reconciliation Pursuant to Titles II and V of the Concurrent Resolution on the Budget for Fiscal Year 2018 (Tax Reform). Tax Reform changed existing United States tax law, including a reduction of the U.S. corporate income tax rate. The Company re-measured deferred taxes as of the date of enactment, which resulted in the $1.2 billion reduction of net deferred income tax liabilities. The Company’s measurement of the income tax effects of Tax Reform for the year ended December 31, 2017 is reasonably estimated and, therefore, included in these financial statements in accordance with SEC Staff Accounting Bulletin No. 118. Valuation allowances are provided when it is considered more likely than not that deferred tax assets will not be realized. The valuation allowances primarily relate to future tax benefits on certain federal, state and non-U.S. net operating loss carryforwards. Federal net operating loss carryforwards of $235 million expire beginning in 2022 through 2037; state net operating loss carryforwards expire beginning in 2018 through 2037. Substantially all of the non-U.S. tax loss carryforwards have indefinite carryforward periods. As of December 31, 2017 , the Company’s undistributed earnings from non-U.S. subsidiaries are intended to be indefinitely reinvested in non-U.S. operations, and therefore no U.S. deferred taxes have been recorded. Taxes payable on the remittance of such earnings would be minimal. A reconciliation of the beginning and ending amount of unrecognized tax benefits as of December 31 is as follows: (in millions) 2017 2016 2015 Gross unrecognized tax benefits, beginning of period $ 263 $ 224 $ 92 Gross increases: Current year tax positions 356 37 — Prior year tax positions 40 24 55 Acquired reserves — — 89 Gross decreases: Prior year tax positions (33 ) (4 ) (2 ) Settlements (24 ) (6 ) (1 ) Statute of limitations lapses (4 ) (12 ) (9 ) Gross unrecognized tax benefits, end of period $ 598 $ 263 $ 224 The Company believes it is reasonably possible that its liability for unrecognized tax benefits will decrease in the next twelve months by $210 million as a result of audit settlements and the expiration of statutes of limitations. The Company classifies interest and penalties associated with uncertain income tax positions as income taxes within its Consolidated Statements of Operations. During the years ended December 31, 2017 , 2016 and 2015 , the Company recognized $14 million , $11 million and $11 million of interest and penalties, respectively. The Company had $84 million and $70 million of accrued interest and penalties for uncertain tax positions as of December 31, 2017 and 2016 , respectively. These amounts are not included in the reconciliation above. As of December 31, 2017 , there were $472 million of unrecognized tax benefits that, if recognized, would affect the effective tax rate. The Company currently files income tax returns in the United States, various states and localities and non-U.S. jurisdictions. The U.S. Internal Revenue Service (IRS) has completed exams on the consolidated income tax returns for fiscal years 2016 and prior. The Company’s 2017 tax year is under advance review by the IRS under its Compliance Assurance Program. With the exception of a few states, the Company is no longer subject to income tax examinations prior to the 2011 tax year. In general, the Company is subject to examination in non-U.S. jurisdictions for years 2012 and forward. |
Shareholders' Equity (Notes)
Shareholders' Equity (Notes) | 12 Months Ended |
Dec. 31, 2017 | |
Shareholders' Equity [Abstract] | |
Stockholders' Equity Note Disclosure [Text Block] | Shareholders' Equity Regulatory Capital and Dividend Restrictions The Company’s regulated insurance and HMO subsidiaries in the United States are subject to regulations and standards in their respective jurisdictions. These standards, among other things, require these subsidiaries to maintain specified levels of statutory capital, as defined by each jurisdiction, and restrict the timing and amount of dividends and other distributions that may be paid to their parent companies. In the United States, most of these regulations and standards are generally consistent with model regulations established by the National Association of Insurance Commissioners. These standards generally permit dividends to be paid from statutory unassigned surplus of the regulated subsidiary and are limited based on the regulated subsidiary’s level of statutory net income and statutory capital and surplus. These dividends are referred to as “ordinary dividends” and generally may be paid without prior regulatory approval. If the dividend, together with other dividends paid within the preceding twelve months, exceeds a specified statutory limit or is paid from sources other than earned surplus, it is generally considered an “extraordinary dividend” and must receive prior regulatory approval. For the year ended December 31, 2017 , the Company’s regulated subsidiaries paid their parent companies dividends of $3.7 billion , including $1.1 billion of extraordinary dividends. For the year ended December 31, 2016 , the Company’s regulated subsidiaries paid their parent companies dividends of $3.9 billion , including $3.3 billion of extraordinary dividends. The Company's regulated subsidiaries had estimated aggregate statutory capital and surplus of $20.7 billion as of December 31, 2017 . The estimated statutory capital and surplus necessary to satisfy regulatory requirements of the Company's regulated subsidiaries was approximately $12.2 billion as of December 31, 2017 . Optum Bank must meet minimum requirements for Tier 1 leverage capital, Tier 1 risk-based capital, common equity Tier 1 risk-based capital and total risk-based capital of the Federal Deposit Insurance Corporation (FDIC) to be considered “Well Capitalized” under the capital adequacy rules to which it is subject. At December 31, 2017 , the Company believes that Optum Bank met the FDIC requirements to be considered “Well Capitalized.” Share Repurchase Program Under its Board of Directors’ authorization, the Company maintains a share repurchase program. The objectives of the share repurchase program are to optimize the Company’s capital structure and cost of capital, thereby improving returns to shareholders, as well as to offset the dilutive impact of share-based awards. Repurchases may be made from time to time in open market purchases or other types of transactions (including prepaid or structured share repurchase programs), subject to certain Board restrictions. In June 2014, the Board renewed the Company’s share repurchase program with an authorization to repurchase up to 100 million shares of its common stock. A summary of common share repurchases for the years ended December 31, 2017 and 2016 is as follows: Years Ended December 31, (in millions, except per share data) 2017 2016 Common share repurchases, shares 9 10 Common share repurchases, average price per share $ 173.54 $ 128.97 Common share repurchases, aggregate cost $ 1,500 $ 1,280 Board authorized shares remaining 42 51 Dividends In June 2017, the Company’s Board of Directors increased the Company’s quarterly cash dividend to shareholders to equal an annual dividend rate of $3.00 per share compared to the annual dividend rate of $2.50 per share, which the Company had paid since June 2016. 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. |
Share-Based Compensation (Notes
Share-Based Compensation (Notes) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | Share-Based Compensation The Company’s outstanding share-based awards consist mainly of non-qualified stock options, SARs and restricted shares. As of December 31, 2017 , the Company had 51 million shares available for future grants of share-based awards under the Plan. As of December 31, 2017 , there were also 9 million shares of common stock available for issuance under the ESPP. Stock Options and SARs Stock option and SAR activity for the year ended December 31, 2017 is summarized in the table below: Shares Weighted- Average Exercise Price Weighted- Average Remaining Contractual Life Aggregate Intrinsic Value (in millions) (in years) (in millions) Outstanding at beginning of period 36 $ 84 Granted 15 111 Exercised (12 ) 55 Forfeited (2 ) 125 Outstanding at end of period 37 102 6.6 $ 4,443 Exercisable at end of period 16 67 4.8 2,412 Vested and expected to vest, end of period 36 101 6.6 4,363 Restricted Shares Restricted share activity for the year ended December 31, 2017 is summarized in the table below: (shares in millions) Shares Weighted-Average Grant Date Fair Value per Share Nonvested at beginning of period 7 $ 96 Granted 3 163 Vested (3 ) 84 Nonvested at end of period 7 128 Other Share-Based Compensation Data (in millions, except per share amounts) For the Years Ended December 31, 2017 2016 2015 Stock Options and SARs Weighted-average grant date fair value of shares granted, per share $ 29 $ 20 $ 22 Total intrinsic value of stock options and SARs exercised 1,473 595 482 Restricted Shares Weighted-average grant date fair value of shares granted, per share 163 115 110 Total fair value of restricted shares vested $ 460 $ 274 $ 460 Employee Stock Purchase Plan Number of shares purchased 2 2 2 Share-Based Compensation Items Share-based compensation expense, before tax $ 597 $ 485 $ 406 Share-based compensation expense, net of tax effects 531 417 348 Income tax benefit realized from share-based award exercises 431 236 247 (in millions, except years) December 31, 2017 Unrecognized compensation expense related to share awards $ 593 Weighted-average years to recognize compensation expense 1.3 Share-Based Compensation Recognition and Estimates The principal assumptions the Company used in calculating grant-date fair value for stock options and SARs were as follows: For the Years Ended December 31, 2017 2016 2015 Risk-free interest rate 1.9% - 2.1% 1.2% - 1.4% 1.6% - 1.7% Expected volatility 18.5% - 20.7% 20.8% - 22.5% 22.3% - 24.1% Expected dividend yield 1.4% - 1.6% 1.8% 1.4% - 1.7% Forfeiture rate 5.0% 5.0% 5.0% Expected life in years 5.7 5.6 - 5.9 5.5 - 6.1 Risk-free interest rates are based on U.S. Treasury yields in effect at the time of grant. Expected volatilities are based on the historical volatility of the Company’s common stock and the implied volatility from exchange-traded options on the Company’s common stock. Expected dividend yields are based on the per share cash dividend paid by the Company. The Company uses historical data to estimate option and SAR exercises and forfeitures within the valuation model. The expected lives of options and SARs granted represents the period of time that the awards granted are expected to be outstanding based on historical exercise patterns. Other Employee Benefit Plans The Company offers a 401(k) plan for its employees. Compensation expense related to this plan was not material for 2017, 2016 and 2015. In addition, the Company maintains non-qualified, deferred compensation plans, which allow certain members of senior management and executives to defer portions of their salary or bonus and receive certain Company contributions on such deferrals, subject to plan limitations. The deferrals are recorded within long-term investments with an approximately equal amount in other liabilities in the Consolidated Balance Sheets. The total deferrals are distributable based upon termination of employment or other periods, as elected under each plan and were $865 million and $672 million as of December 31, 2017 and 2016 , respectively. |
Commitments and Contingencies (
Commitments and Contingencies (Notes) | 12 Months Ended |
Dec. 31, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies Disclosure [Text Block] | Commitments and Contingencies The Company leases facilities and equipment under long-term operating leases that are non-cancelable and expire on various dates. Rent expense under all operating leases for the years ended December 31, 2017 , 2016 and 2015 was $710 million , $608 million and $555 million , respectively. As of December 31, 2017 , future minimum annual lease payments, net of sublease income, under all non-cancelable operating leases were as follows: (in millions) Future Minimum Lease Payments 2018 $ 538 2019 470 2020 414 2021 350 2022 501 Thereafter 809 The Company provides guarantees related to its service level under certain contracts. If minimum standards are not met, the Company may be financially at risk up to a stated percentage of the contracted fee or a stated dollar amount. None of the amounts accrued, paid or charged to income for service level guarantees were material as of December 31, 2017 , 2016 or 2015 . As of December 31, 2017 , the Company had outstanding, undrawn letters of credit with financial institutions of $72 million and surety bonds outstanding with insurance companies of $1.4 billion , primarily to bond contractual performance. Pending Acquisition In December 2017, the Company entered into agreements to acquire two companies in the health care sector for a total of approximately $7.7 billion . One of the acquisitions closed in January 2018; the other is expected to close later in 2018, subject to regulatory approval and other customary closing conditions. 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. 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 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. 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. On February 14, 2017, the Department of Justice (DOJ) announced its decision to pursue certain claims within a lawsuit initially asserted against the Company and filed under seal by a whistleblower in 2011. The whistleblower’s complaint, which was unsealed on February 15, 2017, alleges that the Company, along with a number of other Medicare Advantage plans, made improper risk adjustment submissions and violated the False Claims Act. On March 24, 2017, DOJ intervened in a separate lawsuit initially asserted against the Company and filed by a whistleblower in 2009 concerning risk adjustment submissions by Medicare Advantage plans. On October 5, 2017, in one of the cases, the district court dismissed certain of DOJ’s claims with prejudice, and dismissed all of DOJ’s remaining claims with leave to file a further amended complaint; on October 12, the DOJ filed a notice of dismissal without prejudice of the case. The other case is now pending in the U.S. District Court for the Central District of California. The Company cannot reasonably estimate the outcome that may result from this remaining matter given its current posture. |
Segment Financial Information (
Segment Financial Information (Notes) | 12 Months Ended |
Dec. 31, 2017 | |
Segment Reporting [Abstract] | |
Segment Financial Information [Text Block] | Segment Financial Information Factors used to determine the Company’s reportable segments include the nature of operating activities, economic characteristics, existence of separate senior management teams and the type of information used by the Company’s chief operating decision maker to evaluate its results of operations. Reportable segments with similar economic characteristics, products and services, customers, distribution methods and operational processes that operate in a similar regulatory environment are combined. The following is a description of the types of products and services from which each of the Company’s four reportable segments derives its revenues: • UnitedHealthcare includes the combined results of operations of UnitedHealthcare Employer & Individual, UnitedHealthcare Medicare & Retirement, UnitedHealthcare Community & State and UnitedHealthcare Global. The U.S. businesses share significant common assets, including a contracted network of physicians, health care professionals, hospitals and other facilities, information technology infrastructure and other resources. UnitedHealthcare Employer & Individual offers an array of consumer-oriented health benefit plans and services for large national employers, public sector employers, mid-sized employers, small businesses and individuals nationwide. UnitedHealthcare Medicare & Retirement provides health care coverage and health and well-being services to individuals age 50 and older, addressing their unique needs for preventive and acute health care services as well as services dealing with chronic disease and other specialized issues for older individuals. UnitedHealthcare Community & State’s primary customers oversee Medicaid plans, the Children’s Health Insurance Program and other federal, state and community health care programs. UnitedHealthcare Global is a diversified global health services business with a variety of offerings, including international commercial health and dental benefits and health care delivery. • OptumHealth serves the physical, emotional and health-related financial needs of individuals, enabling population health management through programs offered by employers, payers, government entities and directly with the care delivery system. OptumHealth offers access to networks of care provider specialists, health management services, care delivery, consumer engagement and financial services. • OptumInsight provides services, technology and health care expertise to major participants in the health care industry. Hospital systems, physicians, health plans, governments, life sciences companies and other organizations that comprise the health care industry depend on OptumInsight to help them improve performance, achieve efficiency, reduce costs, meet compliance mandates and modernize their core operating systems to meet the changing needs of the health system. • OptumRx offers pharmacy care services and programs, including retail network contracting, home delivery and specialty pharmacy services, purchasing and clinical capabilities, and develops programs in areas such as step therapy, formulary management, drug adherence and disease/drug therapy management. The Company’s accounting policies for reportable segment operations are consistent with those described in the Summary of Significant Accounting Policies (see Note 2 ). Transactions between reportable segments principally consist of sales of pharmacy care products and services to UnitedHealthcare customers by OptumRx, certain product offerings and care management and local care delivery services sold to UnitedHealthcare by OptumHealth, and health information and technology solutions, consulting and other services sold to UnitedHealthcare by OptumInsight. These transactions are recorded at management’s estimate of fair value. Intersegment transactions are eliminated in consolidation. Assets and liabilities that are jointly used are assigned to each reportable segment using estimates of pro-rata usage. Cash and investments are assigned such that each reportable segment has working capital and/or at least minimum specified levels of regulatory capital. As a percentage of the Company’s total consolidated revenues, premium revenues from CMS were 28% , 25% and 26% for 2017 , 2016 and 2015 , respectively, most of which were generated by UnitedHealthcare Medicare & Retirement and included in the UnitedHealthcare segment. U.S. customer revenue represented approximately 96% , 97% and 96% of consolidated total revenues for 2017 , 2016 and 2015 , respectively. Long-lived fixed assets located in the United States represented approximately 77% and 75% of the total long-lived fixed assets as of December 31, 2017 and 2016 , respectively. The non-U.S. revenues and fixed assets are primarily related to UnitedHealthcare Global. The following table presents the reportable segment financial information: Optum (in millions) UnitedHealthcare OptumHealth OptumInsight OptumRx Optum Eliminations Optum Corporate and Eliminations Consolidated 2017 Revenues - unaffiliated customers: Premiums $ 154,709 $ 3,744 $ — $ — $ — $ 3,744 $ — $ 158,453 Products — 44 106 26,216 — 26,366 — 26,366 Services 7,890 4,013 2,849 565 — 7,427 — 15,317 Total revenues - unaffiliated customers 162,599 7,801 2,955 26,781 — 37,537 — 200,136 Total revenues - affiliated customers — 12,429 5,127 36,954 (1,227 ) 53,283 (53,283 ) — Investment and other income 658 340 5 20 — 365 — 1,023 Total revenues $ 163,257 $ 20,570 $ 8,087 $ 63,755 $ (1,227 ) $ 91,185 $ (53,283 ) $ 201,159 Earnings from operations $ 8,498 $ 1,823 $ 1,770 $ 3,118 $ — $ 6,711 $ — $ 15,209 Interest expense — — — — — — (1,186 ) (1,186 ) Earnings before income taxes $ 8,498 $ 1,823 $ 1,770 $ 3,118 $ — $ 6,711 $ (1,186 ) $ 14,023 Total assets $ 76,676 $ 26,931 $ 11,273 $ 29,551 $ — $ 67,755 $ (5,373 ) $ 139,058 Purchases of property, equipment and capitalized software 737 510 588 188 — 1,286 — 2,023 Depreciation and amortization 758 380 614 493 — 1,487 — 2,245 2016 Revenues - unaffiliated customers: Premiums $ 140,455 $ 3,663 $ — $ — $ — $ 3,663 $ — $ 144,118 Products 1 48 103 26,506 — 26,657 — 26,658 Services 7,514 2,498 2,670 554 — 5,722 — 13,236 Total revenues - unaffiliated customers 147,970 6,209 2,773 27,060 — 36,042 — 184,012 Total revenues - affiliated customers — 10,491 4,559 33,372 (1,088 ) 47,334 (47,334 ) — Investment and other income 611 208 1 8 — 217 — 828 Total revenues $ 148,581 $ 16,908 $ 7,333 $ 60,440 $ (1,088 ) $ 83,593 $ (47,334 ) $ 184,840 Earnings from operations $ 7,307 $ 1,428 $ 1,513 $ 2,682 $ — $ 5,623 $ — $ 12,930 Interest expense — — — — — — (1,067 ) (1,067 ) Earnings before income taxes $ 7,307 $ 1,428 $ 1,513 $ 2,682 $ — $ 5,623 $ (1,067 ) $ 11,863 Total assets $ 70,505 $ 18,656 $ 9,017 $ 29,066 $ — $ 56,739 $ (4,434 ) $ 122,810 Purchases of property, equipment and capitalized software 640 345 571 149 — 1,065 — 1,705 Depreciation and amortization 724 297 559 475 — 1,331 — 2,055 2015 Revenues - unaffiliated customers: Premiums $ 124,011 $ 3,152 $ — $ — $ — $ 3,152 $ — $ 127,163 Products 2 31 108 17,171 — 17,310 — 17,312 Services 6,776 2,375 2,390 381 — 5,146 — 11,922 Total revenues - unaffiliated customers 130,789 5,558 2,498 17,552 — 25,608 — 156,397 Total revenues - affiliated customers — 8,216 3,697 30,718 (791 ) 41,840 (41,840 ) — Investment and other income 554 153 1 2 — 156 — 710 Total revenues $ 131,343 $ 13,927 $ 6,196 $ 48,272 $ (791 ) $ 67,604 $ (41,840 ) $ 157,107 Earnings from operations $ 6,754 $ 1,240 $ 1,278 $ 1,749 $ — $ 4,267 $ — $ 11,021 Interest expense — — — — — — (790 ) (790 ) Earnings before income taxes $ 6,754 $ 1,240 $ 1,278 $ 1,749 $ — $ 4,267 $ (790 ) $ 10,231 Total assets $ 64,212 $ 14,600 $ 8,335 $ 26,844 $ — $ 49,779 $ (2,737 ) $ 111,254 Purchases of property, equipment and capitalized software 653 252 572 79 — 903 — 1,556 Depreciation and amortization 718 251 492 232 — 975 — 1,693 |
Quarterly Financial Data (Unaud
Quarterly Financial Data (Unaudited) (Notes) | 12 Months Ended |
Dec. 31, 2017 | |
Quarterly Financial Information [Text Block] | Quarterly Financial Data (Unaudited) Selected quarterly financial information for all quarters of 2017 and 2016 is as follows: For the Quarter Ended (in millions, except per share data) March 31 June 30 September 30 December 31 2017 Revenues $ 48,723 $ 50,053 $ 50,322 $ 52,061 Operating costs 45,310 46,322 46,234 48,084 Earnings from operations 3,413 3,731 4,088 3,977 Net earnings 2,191 2,350 2,561 3,721 Net earnings attributable to UnitedHealth Group common shareholders 2,172 2,284 2,485 3,617 Net earnings per share attributable to UnitedHealth Group common shareholders: Basic 2.28 2.37 2.57 3.73 Diluted 2.23 2.32 2.51 3.65 2016 Revenues $ 44,527 $ 46,485 $ 46,293 $ 47,535 Operating costs 41,567 43,282 42,713 44,348 Earnings from operations 2,960 3,203 3,580 3,187 Net earnings 1,627 1,760 1,978 1,708 Net earnings attributable to UnitedHealth Group common shareholders 1,611 1,754 1,968 1,684 Net earnings per share attributable to UnitedHealth Group common shareholders: Basic 1.69 1.84 2.07 1.77 Diluted 1.67 1.81 2.03 1.74 |
Schedule I (Notes)
Schedule I (Notes) | 12 Months Ended |
Dec. 31, 2017 | |
Condensed Statement of Income Captions [Line Items] | |
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | Schedule I Condensed Financial Information of Registrant (Parent Company Only) UnitedHealth Group Condensed Balance Sheets (in millions, except per share data) December 31, December 31, Assets Current assets: Cash and cash equivalents $ 359 $ 180 Short-term notes receivable from subsidiaries — 755 Other current assets 575 140 Total current assets 934 1,075 Equity in net assets of subsidiaries 76,231 60,593 Long-term notes receivable from subsidiaries 4,278 9,912 Other assets 839 248 Total assets $ 82,282 $ 71,828 Liabilities and shareholders’ equity Current liabilities: Accounts payable and accrued liabilities $ 502 $ 452 Current portion of notes payable to subsidiaries 466 280 Commercial paper and current maturities of long-term debt 2,749 7,113 Total current liabilities 3,717 7,845 Long-term debt, less current maturities 28,318 25,657 Long-term notes payable to subsidiaries 1,518 — Other liabilities 953 52 Total liabilities 34,506 33,554 Commitments and contingencies (Note 4) Shareholders’ equity: Preferred stock, $0.001 par value -10 shares authorized; no shares issued or outstanding — — Common stock, $0.01 par value - 3,000 shares authorized; 969 and 952 issued and outstanding 10 10 Additional paid-in capital 1,703 — Retained earnings 48,730 40,945 Accumulated other comprehensive loss (2,667 ) (2,681 ) Total UnitedHealth Group shareholders’ equity 47,776 38,274 Total liabilities and shareholders’ equity $ 82,282 $ 71,828 See Notes to the Condensed Financial Statements of Registrant Schedule I Condensed Financial Information of Registrant (Parent Company Only) UnitedHealth Group Condensed Statements of Comprehensive Income For the Years Ended December 31, (in millions) 2017 2016 2015 Revenues: Investment and other income $ 527 $ 522 $ 396 Total revenues 527 522 396 Operating costs: Operating costs — (22 ) (17 ) Interest expense 1,114 995 717 Total operating costs 1,114 973 700 Loss before income taxes (587 ) (451 ) (304 ) Benefit for income taxes 214 165 111 Loss of parent company (373 ) (286 ) (193 ) Equity in undistributed income of subsidiaries 10,931 7,303 6,006 Net earnings 10,558 7,017 5,813 Other comprehensive income (loss) 14 653 (1,942 ) Comprehensive income $ 10,572 $ 7,670 $ 3,871 See Notes to the Condensed Financial Statements of Registrant Schedule I Condensed Financial Information of Registrant (Parent Company Only) UnitedHealth Group Condensed Statements of Cash Flows For the Years Ended December 31, (in millions) 2017 2016 2015 Operating activities Cash flows from operating activities $ 2,021 $ 4,294 $ 1,727 Investing activities Repayments (issuances) of notes to subsidiaries 2,071 (824 ) (5,064 ) Cash paid for acquisitions (2,313 ) (2,292 ) (12,270 ) Return of capital to parent company 3,375 2,143 4,375 Capital contributions to subsidiaries (959 ) (765 ) (1,109 ) Other, net — 168 140 Cash flows from (used for) investing activities 2,174 (1,570 ) (13,928 ) Financing activities Common stock repurchases (1,500 ) (1,280 ) (1,200 ) Proceeds from common stock issuances 688 429 402 Cash dividends paid (2,773 ) (2,261 ) (1,786 ) (Repayments of) proceeds from commercial paper, net (3,508 ) (382 ) 3,666 Proceeds from issuance of long-term debt 5,291 3,968 11,982 Repayments of long-term debt (3,472 ) (2,596 ) (1,041 ) Proceeds (repayments) of notes from subsidiary 1,704 (30 ) 95 Other, net (446 ) (421 ) (447 ) Cash flows (used for) from financing activities (4,016 ) (2,573 ) 11,671 Increase (decrease) in cash and cash equivalents 179 151 (530 ) Cash and cash equivalents, beginning of period 180 29 559 Cash and cash equivalents, end of period $ 359 $ 180 $ 29 Supplemental cash flow disclosures Cash paid for interest $ 1,062 $ 974 $ 573 Cash paid for income taxes 3,455 4,557 4,294 Supplemental schedule of non-cash investing activities Common stock issued for acquisitions $ 2,164 $ — $ — Conversion of note receivable from subsidiaries to equity 4,378 — — See Notes to the Condensed Financial Statements of Registrant Schedule I Condensed Financial Information of Registrant (Parent Company Only) UnitedHealth Group Notes to Condensed Financial Statements 1. Basis of Presentation UnitedHealth Group’s parent company financial information has been derived from its consolidated financial statements and should be read in conjunction with the consolidated financial statements included in this Form 10-K. The accounting policies for the registrant are the same as those described in Note 2 of Notes to the Consolidated Financial Statements included in Part II, Item 8, “Financial Statements.” 2. Subsidiary Transactions Investment in Subsidiaries. UnitedHealth Group’s investment in subsidiaries is stated at cost plus equity in undistributed earnings of subsidiaries. Dividends and Capital Distributions. Cash dividends received from subsidiaries and included in Cash Flows from Operating Activities in the Condensed Statements of Cash Flows were $3.4 billion , $3.7 billion and $4.8 billion in 2017, 2016 and 2015, respectively. Additionally, $3.4 billion , $2.1 billion and $4.4 billion in cash were received as a return of capital to the parent company during 2017, 2016 and 2015, respectively. 3. Commercial Paper and Long-Term Debt Discussion of commercial paper and long-term debt can be found in Note 8 of Notes to the Consolidated Financial Statements included in Part II, Item 8, “Financial Statements.” Long-term debt obligations of the parent company do not include other financing obligations at subsidiaries that totaled $625 million and $200 million at December 31, 2017 and 2016, respectively. Maturities of commercial paper and long-term debt for the years ending December 31 are as follows: (in millions) 2018 $ 2,750 2019 1,750 2020 3,150 2021 2,400 2022 3,015 Thereafter 18,352 4. Commitments and Contingencies For a summary of commitments and contingencies, see Note 12 of Notes to the Consolidated Financial Statements included in Part II, Item 8, “Financial Statements.” |
Basis of Presentation, Uses o23
Basis of Presentation, Uses of Estimates and Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2017 | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation The Company has prepared the Consolidated Financial Statements according to U.S. Generally Accepted Accounting Principles (GAAP) and has included the accounts of UnitedHealth Group and its subsidiaries. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates These Consolidated Financial Statements include certain amounts based on the Company’s best estimates and judgments. The Company’s most significant estimates relate to estimates and judgments for medical costs payable and revenues, valuation and impairment analysis of goodwill and other intangible assets and estimates of other current liabilities and other current receivables. 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. |
Revenue Recognition, Policy [Policy Text Block] | Revenues Premiums Premium revenues are primarily derived from risk-based health insurance arrangements in which the premium is typically at a fixed rate per individual served for a one-year period, and the Company assumes the economic risk of funding its customers’ health care and related administrative costs. Premium revenues are recognized in the period in which eligible individuals are entitled to receive health care benefits. Health care premium payments received from the Company’s customers in advance of the service period are recorded as unearned revenues. Fully insured commercial products of U.S. health plans, Medicare Advantage and Medicare Prescription Drug Benefit (Medicare Part D) plans with medical loss ratios as calculated under the definitions in the Patient Protection and Affordable Care Act (ACA) and related federal and state regulations and implementing regulations, that fall below certain targets are required to rebate ratable portions of their premiums annually. Medicare Advantage premium revenue includes the impact of Centers for Medicare & Medicaid Services (CMS) quality bonuses based on plans’ Star ratings. Premium revenues are recognized based on the estimated premiums earned net of projected rebates because the Company is able to reasonably estimate the ultimate premiums of these contracts. The Company also records premium revenues from capitation arrangements at its OptumHealth businesses. The Company’s Medicare Advantage and Medicare Part D premium revenues are subject to periodic adjustment under CMS’ risk adjustment payment methodology. CMS deploys a risk adjustment model that apportions premiums paid to all health plans according to health severity and certain demographic factors. The CMS risk adjustment model provides higher per member payments for enrollees diagnosed with certain conditions and lower payments for enrollees who are healthier. Under this risk adjustment methodology, CMS calculates the risk adjusted premium payment using diagnosis data from hospital inpatient, hospital outpatient and physician treatment settings. The Company and health care providers collect, capture and submit the necessary and available diagnosis data to CMS within prescribed deadlines. The Company estimates risk adjustment premium revenues based upon the diagnosis data submitted and expected to be submitted to CMS. Risk adjustment data for the Company’s plans are subject to review by the government, including audit by regulators. See Note 12 for additional information regarding these audits. Products and Services For the Company’s OptumRx pharmacy care services business, the majority of revenues are derived from products sold through a contracted network of retail pharmacies or home delivery and specialty pharmacy facilities. Product revenues include ingredient costs (net of rebates), a negotiated dispensing fee and customer co-payments for drugs dispensed through the Company’s mail-service pharmacy. In retail pharmacy transactions, revenues recognized exclude the member’s applicable co-payment. Pharmacy products are billed to customers based on the number of transactions occurring during the billing period. Product revenues are recognized when the prescriptions are dispensed through the retail network or received by consumers through the Company’s mail-service pharmacy. The Company has entered into contracts in which it is primarily obligated to pay its network pharmacy providers for benefits provided to their customers regardless of whether the Company is paid. The Company is also involved in establishing the prices charged by retail pharmacies, determining which drugs will be included in formulary listings and selecting which retail pharmacies will be included in the network offered to plan sponsors’ members and accordingly, are reported on a gross basis. Services revenue consists of fees derived from services performed for customers that self-insure the health care costs of their employees and employees’ dependents. Under service fee contracts, the Company receives monthly, a fixed fee per employee, which is recognized as revenue as the Company performs, or makes available the applicable services to the customer. The customers retain the risk of financing health care costs for their employees and employees’ dependents, and the Company administers the payment of customer funds to physicians and other health care professionals from customer-funded bank accounts. As the Company has neither the obligation for funding the health care costs, nor the primary responsibility for providing the medical care, the Company does not recognize premium revenue and medical costs for these contracts in its Consolidated Financial Statements. For these fee-based customer arrangements, the Company provides coordination and facilitation of medical services; transaction processing; customer, consumer and care professional services; and access to contracted networks of physicians, hospitals and other health care professionals. These services are performed throughout the contract period. Revenues are also comprised of a number of services and products sold through Optum. OptumHealth’s service revenues include net patient service revenues that are recorded based upon established billing rates, less allowances for contractual adjustments, and are recognized as services are provided. For its financial services offerings, OptumHealth charges fees and earns investment income on managed funds. OptumInsight provides software and information products, advisory consulting arrangements and services outsourcing contracts, which may be delivered over several years. OptumInsight revenues are generally recognized over time and measured each period based on the progress to date as services are performed or made available to customers. As of December 31, 2017 , accounts receivables related to products and services were $3.7 billion . In 2017 , the Company had no material bad-debt expense and there were no material contract assets, contract liabilities or deferred contract costs recorded on the Consolidated Balance Sheet as of December 31, 2017 . For the year ended December 31, 2017 , revenue recognized from performance obligations related to prior periods (for example, due to changes in transaction price), was not material. Revenue expected to be recognized in any future year related to remaining performance obligations, excluding revenue pertaining to contracts that have an original expected duration of one year or less, contracts where revenue is recognized as invoiced and contracts with variable consideration related to undelivered performance obligations, is not material. See Note 13 for disaggregation of revenue by segment and type. |
Medical Costs and Medical Costs Payable [Policy Text Block] | Medical Costs and Medical Costs Payable The Company’s estimate of medical costs payable represents management’s best estimate of its liability for unpaid medical costs as of December 31, 2017. Each period, the Company re-examines previously established medical costs payable estimates based on actual claim submissions and other changes in facts and circumstances. As more complete claim information becomes available, the Company adjusts the amount of the estimates and includes the changes in estimates in medical costs in the period in which the change is identified. Approximately 90% of claims related to medical care services are known and settled within 90 days from the date of service and substantially all within twelve months. Medical costs and medical costs payable include estimates of the Company’s obligations for medical care services that have been rendered on behalf of insured consumers, but for which claims have either not yet been received, processed, or paid. The Company develops estimates for medical care services incurred but not reported (IBNR), which includes estimates for claims that have not been received or fully processed, using an actuarial process that is consistently applied, centrally controlled and automated. The actuarial models consider factors such as time from date of service to claim processing, seasonal variances in medical care consumption, health care professional contract rate changes, medical care utilization and other medical cost trends, membership volume and demographics, the introduction of new technologies, benefit plan changes, and business mix changes related to products, customers and geography. In developing its medical costs payable estimates, the Company applies different estimation methods depending on which incurred claims are being estimated. For the most recent two months, the Company estimates claim costs incurred by applying observed medical cost trend factors to the average per member per month (PMPM) medical costs incurred in prior months for which more complete claim data are available, supplemented by a review of near-term completion factors (actuarial estimates, based upon historical experience and analysis of current trends, of the percentage of incurred claims during a given period that have been adjudicated by the Company at the date of estimation). For months prior to the most recent two months, the Company applies the completion factors to actual claims adjudicated-to-date to estimate the expected amount of ultimate incurred claims for those months. |
Cost of Sales, Policy [Policy Text Block] | Cost of Products Sold The Company’s cost of products sold includes the cost of pharmaceuticals dispensed to unaffiliated customers either directly at its mail and specialty pharmacy locations, or indirectly through its nationwide network of participating pharmacies. Rebates attributable to non-affiliated clients are accrued as rebates receivable and a reduction of cost of products sold with a corresponding payable for the amounts of the rebates to be remitted to those non-affiliated clients in accordance with their contracts and recorded in the Consolidated Statements of Operations as a reduction of product revenue. Cost of products sold also includes the cost of personnel to support the Company’s transaction processing services, system sales, maintenance and professional services. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash, Cash Equivalents and Investments Cash and cash equivalents are highly liquid investments that have an original maturity of three months or less. The fair value of cash and cash equivalents approximates their carrying value because of the short maturity of the instruments. |
Investment, Policy [Policy Text Block] | Investments with maturities of less than one year are classified as short-term. Because of regulatory requirements, certain investments are included in long-term investments regardless of their maturity date. The Company classifies these investments as held-to-maturity and reports them at amortized cost. Substantially all other investments are classified as available-for-sale and reported at fair value based on quoted market prices, where available. The Company excludes unrealized gains and losses on investments in available-for-sale securities from net earnings and reports them as comprehensive income and, net of income tax effects, as a separate component of equity. To calculate realized gains and losses on the sale of investments, the Company specifically identifies the cost of each investment sold. The Company evaluates an investment for impairment by considering the length of time and extent to which market value has been less than cost or amortized cost, the financial condition and near-term prospects of the issuer as well as specific events or circumstances that may influence the operations of the issuer and the Company’s intent to sell the security or the likelihood that it will be required to sell the security before recovery of the entire amortized cost. New information and the passage of time can change these judgments. The Company manages its investment portfolio to limit its exposure to any one issuer or market sector, and largely limits its investments to investment grade quality. Securities downgraded below policy minimums after purchase will be disposed of in accordance with the Company’s investment policy. |
AARP Assets Under Management [Policy Text Block] | Assets Under Management The Company provides health insurance products and services to members of AARP under a Supplemental Health Insurance Program (the AARP Program) and to AARP members and non-members under separate Medicare Advantage and Medicare Part D arrangements. The products and services under the AARP Program include supplemental Medicare benefits, hospital indemnity insurance, including insurance for individuals between 50 to 64 years of age and other related products. Pursuant to the Company’s agreement, AARP Program assets are managed separately from the Company’s general investment portfolio and are used to pay costs associated with the AARP Program. These assets are invested at the Company’s discretion, within investment guidelines approved by AARP. The Company does not guarantee any rates of return on these investments and, upon any transfer of the AARP Program contract to another entity, the Company would transfer cash equal in amount to the fair value of these investments at the date of transfer to that entity. Because the purpose of these assets is to fund the medical costs payable, the rate stabilization fund (RSF) liabilities and other related liabilities associated with this AARP contract, assets under management are classified as current assets, consistent with the classification of these liabilities. The effects of changes in other balance sheet amounts associated with the AARP Program also accrue to the overall benefit of the AARP policyholders through the RSF balance. Accordingly, the Company excludes the effect of such changes in its Consolidated Statements of Cash Flows. |
Receivables, Policy [Policy Text Block] | Other Current Receivables Other current receivables include amounts due from pharmaceutical manufacturers for rebates and Medicare Part D drug discounts and other miscellaneous amounts due to the Company. The Company’s pharmacy care services businesses contract with pharmaceutical manufacturers, some of which provide rebates based on use of the manufacturers’ products by its affiliated and non-affiliated clients. The Company accrues rebates as they are earned by its clients on a monthly basis based on the terms of the applicable contracts, historical data and current estimates. The pharmacy care services businesses bill these rebates to the manufacturers on a monthly or quarterly basis depending on the contractual terms and record rebates attributable to affiliated clients as a reduction to medical costs. The Company generally receives rebates from two to five months after billing. As of December 31, 2017 and 2016, total pharmaceutical manufacturer rebates receivable included in other receivables in the Consolidated Balance Sheets amounted to $3.8 billion and $3.3 billion , respectively. As of December 31, 2017 and 2016, the Company’s Medicare Part D receivables amounted to $0.5 billion and $1.5 billion , respectively. |
Property, Plant and Equipment, Policy [Policy Text Block] | Property, Equipment and Capitalized Software Property, equipment and capitalized software are stated at cost, net of accumulated depreciation and amortization. Capitalized software consists of certain costs incurred in the development of internal-use software, including external direct costs of materials and services and applicable payroll costs of employees devoted to specific software development. The Company calculates depreciation and amortization using the straight-line method over the estimated useful lives of the assets. The useful lives for property, equipment and capitalized software are: Furniture, fixtures and equipment 3 to 10 years Buildings 35 to 40 years Capitalized software 3 to 5 years Leasehold improvements are depreciated over the shorter of the remaining lease term or their estimated useful economic life. |
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | Goodwill To determine whether goodwill is impaired, annually or more frequently if needed, the Company performs a multi-step impairment test. The Company may first assess qualitative factors to determine if it is more likely than not that the carrying value of a reporting unit exceeds its estimated fair value. The Company may also elect to skip the qualitative testing and proceed directly to the quantitative testing. When performing quantitative testing, the Company first estimates the fair values of its reporting units using discounted cash flows. To determine fair values, the Company must make assumptions about a wide variety of internal and external factors. Significant assumptions used in the impairment analysis include financial projections of free cash flow (including significant assumptions about operations, capital requirements and income taxes), long-term growth rates for determining terminal value and discount rates. Comparative market multiples are used to corroborate the results of the discounted cash flow test. If the fair value is less than the carrying value of the reporting unit, then the implied value of goodwill would be calculated and compared to the carrying amount of goodwill to determine whether goodwill is impaired. There was no impairment of goodwill during the year ended December 31, 2017 . |
Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block] | Intangible Assets The Company’s intangible assets are subject to impairment tests when events or circumstances indicate that an intangible asset (or asset group) may be impaired. The Company’s indefinite lived intangible assets are also tested for impairment annually. There was no impairment of intangible assets during the year ended December 31, 2017 . |
Other Current Liabilities [Policy Text Block] | Other Current Liabilities Other current liabilities include health savings account deposits ( $6.4 billion and $5.7 billion as of December 31, 2017 and 2016 , respectively), deposits under the Medicare Part D program ( $1.6 billion , and $0.7 billion as of December 31, 2017 and 2016 , respectively), the RSF associated with the AARP Program, accruals for premium rebate payments under the ACA, the current portion of future policy benefits and customer balances. |
Deferred Policy Acquisition Costs, Policy [Policy Text Block] | Policy Acquisition Costs The Company’s short duration health insurance contracts typically have a one-year term and may be canceled by the customer with at least 30 days’ notice. Costs related to the acquisition and renewal of short duration customer contracts are charged to expense as incurred. |
Consolidation, Subsidiaries or Other Investments, Consolidated Entities, Policy [Policy Text Block] | Redeemable Noncontrolling Interests Redeemable noncontrolling interests in the Company’s subsidiaries whose redemption is outside the control of the Company are classified as temporary equity. The following table provides details of the Company's redeemable noncontrolling interests’ activity for the years ended December 31, 2017 and 2016 : (in millions) 2017 2016 Redeemable noncontrolling interests, beginning of period $ 2,012 $ 1,736 Net earnings 71 16 Acquisitions 565 34 Redemptions (309 ) (123 ) Distributions (38 ) (11 ) Fair value and other adjustments (112 ) 360 Redeemable noncontrolling interests, end of period $ 2,189 $ 2,012 |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Share-Based Compensation The Company recognizes compensation expense for share-based awards, including stock options, stock-settled stock appreciation rights (SARs) and restricted stock and restricted stock units (collectively, restricted shares), on a straight-line basis over the related service period (generally the vesting period) of the award, or to an employee’s eligible retirement date under the award agreement, if earlier. Restricted shares vest ratably, primarily over two to five years and compensation expense related to restricted shares is based on the share price on date of grant. Stock options and SARs vest ratably primarily over four years and may be exercised up to 10 years from the date of grant. Compensation expense related to stock options and SARs is based on the fair value at date of grant, which is estimated on the date of grant using a binomial option-pricing model. Under the Company’s Employee Stock Purchase Plan (ESPP), eligible employees are allowed to purchase the Company’s stock at a discounted price, which is 85% of the lower market price of the Company’s common stock at the beginning or at the end of the six-month purchase period. Share-based compensation expense for all programs is recognized in operating costs in the Consolidated Statements of Operations. |
Earnings Per Share, Policy [Policy Text Block] | Net Earnings Per Common Share The Company computes basic earnings per common share attributable to UnitedHealth Group common shareholders by dividing net earnings attributable to UnitedHealth Group common shareholders by the weighted-average number of common shares outstanding during the period. The Company determines diluted net earnings per common share attributable to UnitedHealth Group common shareholders using the weighted-average number of common shares outstanding during the period, adjusted for potentially dilutive shares associated with stock options, SARs, restricted shares and the ESPP (collectively, common stock equivalents), using the treasury stock method. The treasury stock method assumes a hypothetical issuance of shares to settle the share-based awards, with the assumed proceeds used to purchase common stock at the average market price for the period. Assumed proceeds include the amount the employee must pay upon exercise and any unrecognized compensation cost. The difference between the number of shares assumed issued and number of shares assumed purchased represents the dilutive shares. |
Health Insurance Industry Tax, Policy [Policy Text Block] | Health Insurance Industry Tax The ACA includes an annual, nondeductible insurance industry tax (Health Insurance Industry Tax) to be levied proportionally across the insurance industry for risk-based health insurance products. The Company estimates its liability for the Health Insurance Industry Tax based on a ratio of the Company’s applicable net premiums written compared to the U.S. health insurance industry total applicable net premiums, both for the previous calendar year. The Company records in full the estimated liability for the Health Insurance Industry Tax at the beginning of the calendar year with a corresponding deferred cost that is amortized to operating costs on the Consolidated Statements of Operations using a straight-line method over the calendar year. The liability is recorded in accounts payable and accrued liabilities and the corresponding deferred cost is recorded in prepaid expenses and other current assets on the Consolidated Balance Sheets. A provision in the 2016 Federal Budget imposed a one year moratorium for 2017 on the collection of the Health Insurance Industry Tax. |
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 may 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 currently 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. When adopted, the Company does not expect ASU 2016-02 to have a material impact on its results of operations, equity or cash flows. The impact of ASU 2016-02 on the Company’s consolidated financial position will be based on leases outstanding at the time of adoption. 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 Company adopted ASU 2016-01 effective January 1, 2018 as required. ASU 2016-01 did not have a material impact on the Company’s consolidated financial position, results of operations, equity or cash flows. Recently Adopted Accounting Standards In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606)” as modified by subsequently issued ASUs 2015-14, 2016-08, 2016-10, 2016-12 and 2016-20 (collectively ASU 2014-09). ASU 2014-09 superseded 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. The Company early adopted the new standard effective January 1, 2017, as allowed, using the modified retrospective approach. A significant majority of the Company’s revenues are not subject to the new guidance. The adoption of ASU 2014-09 did not have a material impact on the Company’s consolidated financial position, results of operations, equity or cash flows as of the adoption date or for the year ended December 31, 2017. 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 Consolidated Financial Statements. |
Fair Value Fair Value (Policies
Fair Value Fair Value (Policies) | 12 Months Ended |
Dec. 31, 2017 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Fair Value Measurement, Policy [Policy Text Block] | Certain assets and liabilities are measured at fair value in the Consolidated Financial Statements or have fair values disclosed in the Notes to the Consolidated Financial Statements. These assets and liabilities are classified into one of three levels of a hierarchy defined by GAAP. In instances in which the inputs used to measure fair value fall into different levels of the fair value hierarchy, the fair value measurement is categorized in its entirety based on the lowest level input that is significant to the fair value measurement in its entirety. The Company’s assessment of the significance of a particular item to the fair value measurement in its entirety requires judgment, including the consideration of inputs specific to the asset or liability. The fair value hierarchy is summarized as follows: Level 1 — Quoted prices (unadjusted) for identical assets/liabilities in active markets. Level 2 — Other observable inputs, either directly or indirectly, including: • Quoted prices for similar assets/liabilities in active markets; • Quoted prices for identical or similar assets/liabilities in inactive markets (e.g., few transactions, limited information, noncurrent prices, high variability over time); • Inputs other than quoted prices that are observable for the asset/liability (e.g., interest rates, yield curves, implied volatilities, credit spreads); and • Inputs that are corroborated by other observable market data. Level 3 — Unobservable inputs that cannot be corroborated by observable market data. Transfers between levels, if any, are recorded as of the beginning of the reporting period in which the transfer occurs; there was no transfer between Levels 1, 2 or 3 of any financial assets or liabilities during the year ended December 31, 2017 or 2016 . 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 year ended December 31, 2017 or 2016 . The following methods and assumptions were used to estimate the fair value and determine the fair value hierarchy classification of each class of financial instrument included in the tables below: Cash and Cash Equivalents. The carrying value of cash and cash equivalents approximates fair value as maturities are less than three months. Fair values of cash equivalent instruments that do not trade on a regular basis in active markets are classified as Level 2. Debt and Equity Securities. Fair values of debt and equity securities are based on quoted market prices, where available. The Company obtains one price for each security primarily from a third-party pricing service (pricing service), which generally uses quoted or other observable inputs for the determination of fair value. The pricing service normally derives the security prices through recently reported trades for identical or similar securities, and, if necessary, makes adjustments through the reporting date based upon available observable market information. For securities not actively traded, the pricing service may use quoted market prices of comparable instruments or discounted cash flow analyses, incorporating inputs that are currently observable in the markets for similar securities. Inputs that are often used in the valuation methodologies include, but are not limited to, benchmark yields, credit spreads, default rates, prepayment speeds and nonbinding broker quotes. As the Company is responsible for the determination of fair value, it performs quarterly analyses on the prices received from the pricing service to determine whether the prices are reasonable estimates of fair value. Specifically, the Company compares the prices received from the pricing service to prices reported by a secondary pricing source, such as its custodian, its investment consultant and third-party investment advisors. Additionally, the Company compares changes in the reported market values and returns to relevant market indices to test the reasonableness of the reported prices. The Company’s internal price verification procedures and reviews of fair value methodology documentation provided by independent pricing services have not historically resulted in adjustment in the prices obtained from the pricing service. Fair values of debt securities that do not trade on a regular basis in active markets but are priced using other observable inputs are classified as Level 2. Fair value estimates for Level 1 and Level 2 equity securities are based on quoted market prices for actively traded equity securities and/or other market data for the same or comparable instruments and transactions in establishing the prices. The fair values of Level 3 investments in venture capital portfolios are estimated using a market valuation technique that relies heavily on management assumptions and qualitative observations. Under the market approach, the fair values of the Company’s various venture capital investments are computed using limited quantitative and qualitative observations of activity for similar companies in the current market. The Company’s market modeling utilizes, as applicable, transactions for comparable companies in similar industries that also have similar revenue and growth characteristics and preferences in their capital structure. Key significant unobservable inputs in the market technique include implied earnings before interest, taxes, depreciation and amortization (EBITDA) multiples and revenue multiples. Additionally, the fair values of certain of the Company’s venture capital securities are based on recent transactions in inactive markets for identical or similar securities. Significant changes in any of these inputs could result in significantly lower or higher fair value measurements. Throughout the procedures discussed above in relation to the Company’s processes for validating third-party pricing information, the Company validates the understanding of assumptions and inputs used in security pricing and determines the proper classification in the hierarchy based on that understanding. Assets Under Management. Assets under management consists of debt securities and other investments held to fund costs associated with the AARP Program and are priced and classified using the same methodologies as the Company’s investments in debt and equity securities. Long-Term Debt. The fair values of the Company’s long-term debt are estimated and classified using the same methodologies as the Company’s investments in debt securities. |
Schedule I (Policies)
Schedule I (Policies) | 12 Months Ended |
Dec. 31, 2017 | |
Condensed Financial Statements, Captions [Line Items] | |
Basis of Presentation and Significant Accounting Policies [Text Block] | Basis of Presentation, Use of Estimates and Significant Accounting Policies Basis of Presentation The Company has prepared the Consolidated Financial Statements according to U.S. Generally Accepted Accounting Principles (GAAP) and has included the accounts of UnitedHealth Group and its subsidiaries. Use of Estimates These Consolidated Financial Statements include certain amounts based on the Company’s best estimates and judgments. The Company’s most significant estimates relate to estimates and judgments for medical costs payable and revenues, valuation and impairment analysis of goodwill and other intangible assets and estimates of other current liabilities and other current receivables. 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. Revenues Premiums Premium revenues are primarily derived from risk-based health insurance arrangements in which the premium is typically at a fixed rate per individual served for a one-year period, and the Company assumes the economic risk of funding its customers’ health care and related administrative costs. Premium revenues are recognized in the period in which eligible individuals are entitled to receive health care benefits. Health care premium payments received from the Company’s customers in advance of the service period are recorded as unearned revenues. Fully insured commercial products of U.S. health plans, Medicare Advantage and Medicare Prescription Drug Benefit (Medicare Part D) plans with medical loss ratios as calculated under the definitions in the Patient Protection and Affordable Care Act (ACA) and related federal and state regulations and implementing regulations, that fall below certain targets are required to rebate ratable portions of their premiums annually. Medicare Advantage premium revenue includes the impact of Centers for Medicare & Medicaid Services (CMS) quality bonuses based on plans’ Star ratings. Premium revenues are recognized based on the estimated premiums earned net of projected rebates because the Company is able to reasonably estimate the ultimate premiums of these contracts. The Company also records premium revenues from capitation arrangements at its OptumHealth businesses. The Company’s Medicare Advantage and Medicare Part D premium revenues are subject to periodic adjustment under CMS’ risk adjustment payment methodology. CMS deploys a risk adjustment model that apportions premiums paid to all health plans according to health severity and certain demographic factors. The CMS risk adjustment model provides higher per member payments for enrollees diagnosed with certain conditions and lower payments for enrollees who are healthier. Under this risk adjustment methodology, CMS calculates the risk adjusted premium payment using diagnosis data from hospital inpatient, hospital outpatient and physician treatment settings. The Company and health care providers collect, capture and submit the necessary and available diagnosis data to CMS within prescribed deadlines. The Company estimates risk adjustment premium revenues based upon the diagnosis data submitted and expected to be submitted to CMS. Risk adjustment data for the Company’s plans are subject to review by the government, including audit by regulators. See Note 12 for additional information regarding these audits. Products and Services For the Company’s OptumRx pharmacy care services business, the majority of revenues are derived from products sold through a contracted network of retail pharmacies or home delivery and specialty pharmacy facilities. Product revenues include ingredient costs (net of rebates), a negotiated dispensing fee and customer co-payments for drugs dispensed through the Company’s mail-service pharmacy. In retail pharmacy transactions, revenues recognized exclude the member’s applicable co-payment. Pharmacy products are billed to customers based on the number of transactions occurring during the billing period. Product revenues are recognized when the prescriptions are dispensed through the retail network or received by consumers through the Company’s mail-service pharmacy. The Company has entered into contracts in which it is primarily obligated to pay its network pharmacy providers for benefits provided to their customers regardless of whether the Company is paid. The Company is also involved in establishing the prices charged by retail pharmacies, determining which drugs will be included in formulary listings and selecting which retail pharmacies will be included in the network offered to plan sponsors’ members and accordingly, are reported on a gross basis. Services revenue consists of fees derived from services performed for customers that self-insure the health care costs of their employees and employees’ dependents. Under service fee contracts, the Company receives monthly, a fixed fee per employee, which is recognized as revenue as the Company performs, or makes available the applicable services to the customer. The customers retain the risk of financing health care costs for their employees and employees’ dependents, and the Company administers the payment of customer funds to physicians and other health care professionals from customer-funded bank accounts. As the Company has neither the obligation for funding the health care costs, nor the primary responsibility for providing the medical care, the Company does not recognize premium revenue and medical costs for these contracts in its Consolidated Financial Statements. For these fee-based customer arrangements, the Company provides coordination and facilitation of medical services; transaction processing; customer, consumer and care professional services; and access to contracted networks of physicians, hospitals and other health care professionals. These services are performed throughout the contract period. Revenues are also comprised of a number of services and products sold through Optum. OptumHealth’s service revenues include net patient service revenues that are recorded based upon established billing rates, less allowances for contractual adjustments, and are recognized as services are provided. For its financial services offerings, OptumHealth charges fees and earns investment income on managed funds. OptumInsight provides software and information products, advisory consulting arrangements and services outsourcing contracts, which may be delivered over several years. OptumInsight revenues are generally recognized over time and measured each period based on the progress to date as services are performed or made available to customers. As of December 31, 2017 , accounts receivables related to products and services were $3.7 billion . In 2017 , the Company had no material bad-debt expense and there were no material contract assets, contract liabilities or deferred contract costs recorded on the Consolidated Balance Sheet as of December 31, 2017 . For the year ended December 31, 2017 , revenue recognized from performance obligations related to prior periods (for example, due to changes in transaction price), was not material. Revenue expected to be recognized in any future year related to remaining performance obligations, excluding revenue pertaining to contracts that have an original expected duration of one year or less, contracts where revenue is recognized as invoiced and contracts with variable consideration related to undelivered performance obligations, is not material. See Note 13 for disaggregation of revenue by segment and type. Medical Costs and Medical Costs Payable The Company’s estimate of medical costs payable represents management’s best estimate of its liability for unpaid medical costs as of December 31, 2017. Each period, the Company re-examines previously established medical costs payable estimates based on actual claim submissions and other changes in facts and circumstances. As more complete claim information becomes available, the Company adjusts the amount of the estimates and includes the changes in estimates in medical costs in the period in which the change is identified. Approximately 90% of claims related to medical care services are known and settled within 90 days from the date of service and substantially all within twelve months. Medical costs and medical costs payable include estimates of the Company’s obligations for medical care services that have been rendered on behalf of insured consumers, but for which claims have either not yet been received, processed, or paid. The Company develops estimates for medical care services incurred but not reported (IBNR), which includes estimates for claims that have not been received or fully processed, using an actuarial process that is consistently applied, centrally controlled and automated. The actuarial models consider factors such as time from date of service to claim processing, seasonal variances in medical care consumption, health care professional contract rate changes, medical care utilization and other medical cost trends, membership volume and demographics, the introduction of new technologies, benefit plan changes, and business mix changes related to products, customers and geography. In developing its medical costs payable estimates, the Company applies different estimation methods depending on which incurred claims are being estimated. For the most recent two months, the Company estimates claim costs incurred by applying observed medical cost trend factors to the average per member per month (PMPM) medical costs incurred in prior months for which more complete claim data are available, supplemented by a review of near-term completion factors (actuarial estimates, based upon historical experience and analysis of current trends, of the percentage of incurred claims during a given period that have been adjudicated by the Company at the date of estimation). For months prior to the most recent two months, the Company applies the completion factors to actual claims adjudicated-to-date to estimate the expected amount of ultimate incurred claims for those months. Cost of Products Sold The Company’s cost of products sold includes the cost of pharmaceuticals dispensed to unaffiliated customers either directly at its mail and specialty pharmacy locations, or indirectly through its nationwide network of participating pharmacies. Rebates attributable to non-affiliated clients are accrued as rebates receivable and a reduction of cost of products sold with a corresponding payable for the amounts of the rebates to be remitted to those non-affiliated clients in accordance with their contracts and recorded in the Consolidated Statements of Operations as a reduction of product revenue. Cost of products sold also includes the cost of personnel to support the Company’s transaction processing services, system sales, maintenance and professional services. Cash, Cash Equivalents and Investments Cash and cash equivalents are highly liquid investments that have an original maturity of three months or less. The fair value of cash and cash equivalents approximates their carrying value because of the short maturity of the instruments. Investments with maturities of less than one year are classified as short-term. Because of regulatory requirements, certain investments are included in long-term investments regardless of their maturity date. The Company classifies these investments as held-to-maturity and reports them at amortized cost. Substantially all other investments are classified as available-for-sale and reported at fair value based on quoted market prices, where available. The Company excludes unrealized gains and losses on investments in available-for-sale securities from net earnings and reports them as comprehensive income and, net of income tax effects, as a separate component of equity. To calculate realized gains and losses on the sale of investments, the Company specifically identifies the cost of each investment sold. The Company evaluates an investment for impairment by considering the length of time and extent to which market value has been less than cost or amortized cost, the financial condition and near-term prospects of the issuer as well as specific events or circumstances that may influence the operations of the issuer and the Company’s intent to sell the security or the likelihood that it will be required to sell the security before recovery of the entire amortized cost. New information and the passage of time can change these judgments. The Company manages its investment portfolio to limit its exposure to any one issuer or market sector, and largely limits its investments to investment grade quality. Securities downgraded below policy minimums after purchase will be disposed of in accordance with the Company’s investment policy. Assets Under Management The Company provides health insurance products and services to members of AARP under a Supplemental Health Insurance Program (the AARP Program) and to AARP members and non-members under separate Medicare Advantage and Medicare Part D arrangements. The products and services under the AARP Program include supplemental Medicare benefits, hospital indemnity insurance, including insurance for individuals between 50 to 64 years of age and other related products. Pursuant to the Company’s agreement, AARP Program assets are managed separately from the Company’s general investment portfolio and are used to pay costs associated with the AARP Program. These assets are invested at the Company’s discretion, within investment guidelines approved by AARP. The Company does not guarantee any rates of return on these investments and, upon any transfer of the AARP Program contract to another entity, the Company would transfer cash equal in amount to the fair value of these investments at the date of transfer to that entity. Because the purpose of these assets is to fund the medical costs payable, the rate stabilization fund (RSF) liabilities and other related liabilities associated with this AARP contract, assets under management are classified as current assets, consistent with the classification of these liabilities. The effects of changes in other balance sheet amounts associated with the AARP Program also accrue to the overall benefit of the AARP policyholders through the RSF balance. Accordingly, the Company excludes the effect of such changes in its Consolidated Statements of Cash Flows. Other Current Receivables Other current receivables include amounts due from pharmaceutical manufacturers for rebates and Medicare Part D drug discounts and other miscellaneous amounts due to the Company. The Company’s pharmacy care services businesses contract with pharmaceutical manufacturers, some of which provide rebates based on use of the manufacturers’ products by its affiliated and non-affiliated clients. The Company accrues rebates as they are earned by its clients on a monthly basis based on the terms of the applicable contracts, historical data and current estimates. The pharmacy care services businesses bill these rebates to the manufacturers on a monthly or quarterly basis depending on the contractual terms and record rebates attributable to affiliated clients as a reduction to medical costs. The Company generally receives rebates from two to five months after billing. As of December 31, 2017 and 2016, total pharmaceutical manufacturer rebates receivable included in other receivables in the Consolidated Balance Sheets amounted to $3.8 billion and $3.3 billion , respectively. As of December 31, 2017 and 2016, the Company’s Medicare Part D receivables amounted to $0.5 billion and $1.5 billion , respectively. Property, Equipment and Capitalized Software Property, equipment and capitalized software are stated at cost, net of accumulated depreciation and amortization. Capitalized software consists of certain costs incurred in the development of internal-use software, including external direct costs of materials and services and applicable payroll costs of employees devoted to specific software development. The Company calculates depreciation and amortization using the straight-line method over the estimated useful lives of the assets. The useful lives for property, equipment and capitalized software are: Furniture, fixtures and equipment 3 to 10 years Buildings 35 to 40 years Capitalized software 3 to 5 years Leasehold improvements are depreciated over the shorter of the remaining lease term or their estimated useful economic life. Goodwill To determine whether goodwill is impaired, annually or more frequently if needed, the Company performs a multi-step impairment test. The Company may first assess qualitative factors to determine if it is more likely than not that the carrying value of a reporting unit exceeds its estimated fair value. The Company may also elect to skip the qualitative testing and proceed directly to the quantitative testing. When performing quantitative testing, the Company first estimates the fair values of its reporting units using discounted cash flows. To determine fair values, the Company must make assumptions about a wide variety of internal and external factors. Significant assumptions used in the impairment analysis include financial projections of free cash flow (including significant assumptions about operations, capital requirements and income taxes), long-term growth rates for determining terminal value and discount rates. Comparative market multiples are used to corroborate the results of the discounted cash flow test. If the fair value is less than the carrying value of the reporting unit, then the implied value of goodwill would be calculated and compared to the carrying amount of goodwill to determine whether goodwill is impaired. There was no impairment of goodwill during the year ended December 31, 2017 . Intangible Assets The Company’s intangible assets are subject to impairment tests when events or circumstances indicate that an intangible asset (or asset group) may be impaired. The Company’s indefinite lived intangible assets are also tested for impairment annually. There was no impairment of intangible assets during the year ended December 31, 2017 . Other Current Liabilities Other current liabilities include health savings account deposits ( $6.4 billion and $5.7 billion as of December 31, 2017 and 2016 , respectively), deposits under the Medicare Part D program ( $1.6 billion , and $0.7 billion as of December 31, 2017 and 2016 , respectively), the RSF associated with the AARP Program, accruals for premium rebate payments under the ACA, the current portion of future policy benefits and customer balances. Policy Acquisition Costs The Company’s short duration health insurance contracts typically have a one-year term and may be canceled by the customer with at least 30 days’ notice. Costs related to the acquisition and renewal of short duration customer contracts are charged to expense as incurred. Redeemable Noncontrolling Interests Redeemable noncontrolling interests in the Company’s subsidiaries whose redemption is outside the control of the Company are classified as temporary equity. The following table provides details of the Company's redeemable noncontrolling interests’ activity for the years ended December 31, 2017 and 2016 : (in millions) 2017 2016 Redeemable noncontrolling interests, beginning of period $ 2,012 $ 1,736 Net earnings 71 16 Acquisitions 565 34 Redemptions (309 ) (123 ) Distributions (38 ) (11 ) Fair value and other adjustments (112 ) 360 Redeemable noncontrolling interests, end of period $ 2,189 $ 2,012 Share-Based Compensation The Company recognizes compensation expense for share-based awards, including stock options, stock-settled stock appreciation rights (SARs) and restricted stock and restricted stock units (collectively, restricted shares), on a straight-line basis over the related service period (generally the vesting period) of the award, or to an employee’s eligible retirement date under the award agreement, if earlier. Restricted shares vest ratably, primarily over two to five years and compensation expense related to restricted shares is based on the share price on date of grant. Stock options and SARs vest ratably primarily over four years and may be exercised up to 10 years from the date of grant. Compensation expense related to stock options and SARs is based on the fair value at date of grant, which is estimated on the date of grant using a binomial option-pricing model. Under the Company’s Employee Stock Purchase Plan (ESPP), eligible employees are allowed to purchase the Company’s stock at a discounted price, which is 85% of the lower market price of the Company’s common stock at the beginning or at the end of the six-month purchase period. Share-based compensation expense for all programs is recognized in operating costs in the Consolidated Statements of Operations. Net Earnings Per Common Share The Company computes basic earnings per common share attributable to UnitedHealth Group common shareholders by dividing net earnings attributable to UnitedHealth Group common shareholders by the weighted-average number of common shares outstanding during the period. The Company determines diluted net earnings per common share attributable to UnitedHealth Group common shareholders using the weighted-average number of common shares outstanding during the period, adjusted for potentially dilutive shares associated with stock options, SARs, restricted shares and the ESPP (collectively, common stock equivalents), using the treasury stock method. The treasury stock method assumes a hypothetical issuance of shares to settle the share-based awards, with the assumed proceeds used to purchase common stock at the average market price for the period. Assumed proceeds include the amount the employee must pay upon exercise and any unrecognized compensation cost. The difference between the number of shares assumed issued and number of shares assumed purchased represents the dilutive shares. Health Insurance Industry Tax The ACA includes an annual, nondeductible insurance industry tax (Health Insurance Industry Tax) to be levied proportionally across the insurance industry for risk-based health insurance products. The Company estimates its liability for the Health Insurance Industry Tax based on a ratio of the Company’s applicable net premiums written compared to the U.S. health insurance industry total applicable net premiums, both for the previous calendar year. The Company records in full the estimated liability for the Health Insurance Industry Tax at the beginning of the calendar year with a corresponding deferred cost that is amortized to operating costs on the Consolidated Statements of Operations using a straight-line method over the calendar year. The liability is recorded in accounts payable and accrued liabilities and the corresponding deferred cost is recorded in prepaid expenses and other current assets on the Consolidated Balance Sheets. A provision in the 2016 Federal Budget imposed a one year moratorium for 2017 on the collection of the Health Insurance Industry Tax. 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 may 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 currently 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. When adopted, the Company does not expect ASU 2016-02 to have a material impact on its results of operations, equity or cash flows. The impact of ASU 2016-02 on the Company’s consolidated financial position will be based on leases outstanding at the time of adoption. 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 Company adopted ASU 2016-01 effective January 1, 2018 as required. ASU 2016-01 did not have a material impact on the Company’s consolidated financial position, results of operations, equity or cash flows. Recently Adopted Accounting Standards In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606)” as modified by subsequently issued ASUs 2015-14, 2016-08, 2016-10, 2016-12 and 2016-20 (collectively ASU 2014-09). ASU 2014-09 superseded 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. The Company early adopted the new standard effective January 1, 2017, as allowed, using the modified retrospective approach. A significant majority of the Company’s revenues are not subject to the new guidance. The adoption of ASU 2014-09 did not have a material impact on the Company’s consolidated financial position, results of operations, equity or cash flows as of the adoption date or for the year ended December 31, 2017. 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 Consolidated Financial Statements. |
Consolidation, Subsidiaries or Other Investments, Consolidated Entities, Policy [Policy Text Block] | Redeemable Noncontrolling Interests Redeemable noncontrolling interests in the Company’s subsidiaries whose redemption is outside the control of the Company are classified as temporary equity. The following table provides details of the Company's redeemable noncontrolling interests’ activity for the years ended December 31, 2017 and 2016 : (in millions) 2017 2016 Redeemable noncontrolling interests, beginning of period $ 2,012 $ 1,736 Net earnings 71 16 Acquisitions 565 34 Redemptions (309 ) (123 ) Distributions (38 ) (11 ) Fair value and other adjustments (112 ) 360 Redeemable noncontrolling interests, end of period $ 2,189 $ 2,012 |
Parent Company [Member] | |
Condensed Financial Statements, Captions [Line Items] | |
Basis of Presentation and Significant Accounting Policies [Text Block] | Basis of Presentation UnitedHealth Group’s parent company financial information has been derived from its consolidated financial statements and should be read in conjunction with the consolidated financial statements included in this Form 10-K. The accounting policies for the registrant are the same as those described in Note 2 of Notes to the Consolidated Financial Statements included in Part II, Item 8, “Financial Statements.” |
Consolidation, Subsidiaries or Other Investments, Consolidated Entities, Policy [Policy Text Block] | Subsidiary Transactions Investment in Subsidiaries. UnitedHealth Group’s investment in subsidiaries is stated at cost plus equity in undistributed earnings of subsidiaries. |
Basis of Presentation, Uses o26
Basis of Presentation, Uses of Estimates and Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Property, Plant and Equipment [Table Text Block] | A summary of property, equipment and capitalized software is as follows: (in millions) December 31, 2017 December 31, 2016 Land and improvements $ 405 $ 324 Buildings and improvements 3,664 3,148 Computer equipment 1,829 2,021 Furniture and fixtures 1,208 999 Less accumulated depreciation (2,488 ) (2,621 ) Property and equipment, net 4,618 3,871 Capitalized software 3,601 3,158 Less accumulated amortization (1,206 ) (1,128 ) Capitalized software, net 2,395 2,030 Total property, equipment and capitalized software, net $ 7,013 $ 5,901 |
Redeemable Noncontrolling Interest [Table Text Block] | The following table provides details of the Company's redeemable noncontrolling interests’ activity for the years ended December 31, 2017 and 2016 : (in millions) 2017 2016 Redeemable noncontrolling interests, beginning of period $ 2,012 $ 1,736 Net earnings 71 16 Acquisitions 565 34 Redemptions (309 ) (123 ) Distributions (38 ) (11 ) Fair value and other adjustments (112 ) 360 Redeemable noncontrolling interests, end of period $ 2,189 $ 2,012 |
Useful Life [Member] | |
Property, Plant and Equipment [Table Text Block] | The Company calculates depreciation and amortization using the straight-line method over the estimated useful lives of the assets. The useful lives for property, equipment and capitalized software are: Furniture, fixtures and equipment 3 to 10 years Buildings 35 to 40 years Capitalized software 3 to 5 years |
Investments (Tables)
Investments (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Short-Term and Long-Term Investments [Table Text Block] | A summary of short-term and long-term investments by major security type is as follows: (in millions) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value December 31, 2017 Debt securities - available-for-sale: U.S. government and agency obligations $ 2,673 $ 1 $ (30 ) $ 2,644 State and municipal obligations 7,596 99 (35 ) 7,660 Corporate obligations 13,181 57 (44 ) 13,194 U.S. agency mortgage-backed securities 3,942 7 (38 ) 3,911 Non-U.S. agency mortgage-backed securities 1,018 3 (6 ) 1,015 Total debt securities - available-for-sale 28,410 167 (153 ) 28,424 Equity securities 2,026 7 (41 ) 1,992 Debt securities - held-to-maturity: U.S. government and agency obligations 254 1 (1 ) 254 State and municipal obligations 2 — — 2 Corporate obligations 280 — — 280 Total debt securities - held-to-maturity 536 1 (1 ) 536 Total investments $ 30,972 $ 175 $ (195 ) $ 30,952 December 31, 2016 Debt securities - available-for-sale: U.S. government and agency obligations $ 2,294 $ 1 $ (31 ) $ 2,264 State and municipal obligations 7,120 40 (101 ) 7,059 Corporate obligations 10,944 41 (58 ) 10,927 U.S. agency mortgage-backed securities 2,963 7 (43 ) 2,927 Non-U.S. agency mortgage-backed securities 1,009 3 (10 ) 1,002 Total debt securities - available-for-sale 24,330 92 (243 ) 24,179 Equity securities 2,036 52 (47 ) 2,041 Debt securities - held-to-maturity: U.S. government and agency obligations 250 1 — 251 State and municipal obligations 5 — — 5 Corporate obligations 238 — — 238 Total debt securities - held-to-maturity 493 1 — 494 Total investments $ 26,859 $ 145 $ (290 ) $ 26,714 |
Investments by Contractual Maturity [Table Text Block] | The amortized cost and fair value of debt securities as of December 31, 2017 , 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 $ 3,630 $ 3,628 $ 155 $ 155 Due after one year through five years 10,658 10,631 131 130 Due after five years through ten years 6,894 6,932 103 103 Due after ten years 2,268 2,307 147 148 U.S. agency mortgage-backed securities 3,942 3,911 — — Non-U.S. agency mortgage-backed securities 1,018 1,015 — — Total debt securities $ 28,410 $ 28,424 $ 536 $ 536 |
Fair Value of Available-for-Sale Investments with Gross Unrealized Losses by Investment Type and Length of Time that Individual Securities have been in a Continuous Unrealized Loss Position [Table Text Block] | The fair value of available-for-sale investments with gross unrealized losses by major security type and length of time that individual securities have been in a continuous unrealized loss position were as follows: Less Than 12 Months 12 Months or Greater Total (in millions) Fair Value Gross Unrealized Losses Fair Value Gross Fair Value Gross December 31, 2017 Debt securities - available-for-sale: U.S. government and agency obligations $ 1,249 $ (8 ) $ 1,027 $ (22 ) $ 2,276 $ (30 ) State and municipal obligations 2,599 (21 ) 866 (14 ) 3,465 (35 ) Corporate obligations 5,901 (23 ) 1,242 (21 ) 7,143 (44 ) U.S. agency mortgage-backed securities 1,657 (12 ) 1,162 (26 ) 2,819 (38 ) Non-U.S. agency mortgage-backed securities 411 (3 ) 144 (3 ) 555 (6 ) Total debt securities - available-for-sale $ 11,817 $ (67 ) $ 4,441 $ (86 ) $ 16,258 $ (153 ) Equity securities $ 97 $ (5 ) $ 105 $ (36 ) $ 202 $ (41 ) December 31, 2016 Debt securities - available-for-sale: U.S. government and agency obligations $ 1,794 $ (31 ) $ — $ — $ 1,794 $ (31 ) State and municipal obligations 4,376 (101 ) — — 4,376 (101 ) Corporate obligations 5,128 (56 ) 137 (2 ) 5,265 (58 ) U.S. agency mortgage-backed securities 2,247 (40 ) 79 (3 ) 2,326 (43 ) Non-U.S. agency mortgage-backed securities 544 (7 ) 97 (3 ) 641 (10 ) Total debt securities - available-for-sale $ 14,089 $ (235 ) $ 313 $ (8 ) $ 14,402 $ (243 ) Equity securities $ 93 $ (5 ) $ 91 $ (42 ) $ 184 $ (47 ) |
Net Realized Gains, Included in Investment and Other Income [Table Text Block] | Net realized gains reclassified out of accumulated other comprehensive income were from the following sources: For the Years Ended December 31, (in millions) 2017 2016 2015 Total other-than-temporary impairment recognized in earnings $ (9 ) $ (45 ) $ (22 ) Gross realized losses from sales (33 ) (44 ) (28 ) Gross realized gains from sales 125 255 191 Net realized gains (included in investment and other income on the Consolidated Statements of Operations) 83 166 141 Income tax effect (included in provision for income taxes on the Consolidated Statements of Operations) (30 ) (60 ) (53 ) Realized gains, net of taxes $ 53 $ 106 $ 88 |
Fair Value (Tables)
Fair Value (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Financial Assets and Liabilities, Measured at Fair Value Recurring Basis [Table Text Block] | The following table presents a summary of fair value measurements by level and carrying values for items measured at fair value on a recurring basis in the Consolidated Balance Sheets: (in millions) Quoted Prices in Active Markets (Level 1) Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) Total Fair and Carrying Value December 31, 2017 Cash and cash equivalents $ 11,718 $ 263 $ — $ 11,981 Debt securities - available-for-sale: U.S. government and agency obligations 2,428 216 — 2,644 State and municipal obligations — 7,660 — 7,660 Corporate obligations 65 12,989 140 13,194 U.S. agency mortgage-backed securities — 3,911 — 3,911 Non-U.S. agency mortgage-backed securities — 1,015 — 1,015 Total debt securities - available-for-sale 2,493 25,791 140 28,424 Equity securities 1,784 14 194 1,992 Assets under management 1,117 1,984 — 3,101 Total assets at fair value $ 17,112 $ 28,052 $ 334 $ 45,498 Percentage of total assets at fair value 38 % 61 % 1 % 100 % December 31, 2016 Cash and cash equivalents $ 10,386 $ 44 $ — $ 10,430 Debt securities - available-for-sale: U.S. government and agency obligations 2,017 247 — 2,264 State and municipal obligations — 7,059 — 7,059 Corporate obligations 21 10,804 102 10,927 U.S. agency mortgage-backed securities — 2,927 — 2,927 Non-U.S. agency mortgage-backed securities — 1,002 — 1,002 Total debt securities - available-for-sale 2,038 22,039 102 24,179 Equity securities 1,591 13 437 2,041 Assets under management 1,064 2,041 — 3,105 Total assets at fair value $ 15,079 $ 24,137 $ 539 $ 39,755 Percentage of total assets at fair value 38 % 61 % 1 % 100 % |
Fair Value Measurements, Nonrecurring [Table Text Block] | The following table presents a summary of fair value measurements by level and carrying values for certain financial instruments not measured at fair value on a recurring basis in the Consolidated Balance Sheets: (in millions) Quoted Prices in Active Markets (Level 1) Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) Total Fair Value Total Carrying Value December 31, 2017 Debt securities - held-to-maturity: U.S. government and agency obligations $ 251 $ 3 $ — $ 254 $ 254 State and municipal obligations — — 2 2 2 Corporate obligations 16 1 263 280 280 Total debt securities - held-to-maturity $ 267 $ 4 $ 265 $ 536 $ 536 Long-term debt and other financing obligations $ — $ 34,504 $ — $ 34,504 $ 31,542 December 31, 2016 Debt securities - held-to-maturity: U.S. government and agency obligations $ 251 $ — $ — $ 251 $ 250 State and municipal obligations — — 5 5 5 Corporate obligations 20 8 210 238 238 Total debt securities - held-to-maturity $ 271 $ 8 $ 215 $ 494 $ 493 Long-term debt and other financing obligations $ — $ 31,295 $ — $ 31,295 $ 29,337 |
Property, Plant, and Capitali29
Property, Plant, and Capitalized Software (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment [Table Text Block] | A summary of property, equipment and capitalized software is as follows: (in millions) December 31, 2017 December 31, 2016 Land and improvements $ 405 $ 324 Buildings and improvements 3,664 3,148 Computer equipment 1,829 2,021 Furniture and fixtures 1,208 999 Less accumulated depreciation (2,488 ) (2,621 ) Property and equipment, net 4,618 3,871 Capitalized software 3,601 3,158 Less accumulated amortization (1,206 ) (1,128 ) Capitalized software, net 2,395 2,030 Total property, equipment and capitalized software, net $ 7,013 $ 5,901 |
Goodwill and Intangible Asset30
Goodwill and Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Goodwill [Line Items] | |
Schedule of Goodwill [Table Text Block] | Changes in the carrying amount of goodwill, by reportable segment, were as follows: (in millions) UnitedHealthcare OptumHealth OptumInsight OptumRx Consolidated Balance at January 1, 2016 $ 22,925 $ 5,660 $ 4,296 $ 11,572 $ 44,453 Acquisitions 526 683 — 1,387 2,596 Foreign currency effects and adjustments, net 403 (21 ) 153 — 535 Balance at December 31, 2016 23,854 6,322 4,449 12,959 47,584 Acquisitions 690 5,189 1,221 — 7,100 Foreign currency effects and adjustments, net (60 ) (23 ) 4 (49 ) (128 ) Balance at December 31, 2017 $ 24,484 $ 11,488 $ 5,674 $ 12,910 $ 54,556 |
Schedule of Acquired Finite-Lived Intangible Assets by Major Class [Table Text Block] | The gross carrying value, accumulated amortization and net carrying value of other intangible assets were as follows: December 31, 2017 December 31, 2016 (in millions) Gross Carrying Value Accumulated Amortization Net Carrying Value Gross Carrying Value Accumulated Amortization Net Carrying Value Customer-related $ 10,832 $ (3,743 ) $ 7,089 $ 10,942 $ (3,416 ) $ 7,526 Trademarks and technology 1,054 (432 ) 622 720 (323 ) 397 Trademarks and other indefinite-lived 561 — 561 468 — 468 Other 351 (134 ) 217 258 (108 ) 150 Total $ 12,798 $ (4,309 ) $ 8,489 $ 12,388 $ (3,847 ) $ 8,541 |
Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block] | The acquisition date fair values and weighted-average useful lives assigned to finite-lived intangible assets acquired in business combinations consisted of the following by year of acquisition: 2017 2016 (in millions, except years) Fair Value Weighted-Average Useful Life Fair Value Weighted-Average Useful Life Customer-related $ 324 13 years $ 785 17 years Trademarks and technology 367 11 years 82 4 years Other 82 6 years 22 5 years Total acquired finite-lived intangible assets $ 773 11 years $ 889 16 years |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Estimated full year amortization expense relating to intangible assets for each of the next five years ending December 31 is as follows: (in millions) 2018 $ 833 2019 756 2020 665 2021 600 2022 528 |
Medical Costs Payable (Tables)
Medical Costs Payable (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Insurance [Abstract] | |
Schedule of Liability for Unpaid Claims and Claims Adjustment Expense [Table Text Block] | The following table shows the components of the change in medical costs payable for the years ended December 31: (in millions) 2017 2016 2015 Medical costs payable, beginning of period $ 16,391 $ 14,330 $ 12,040 Acquisitions 83 — — Reported medical costs: Current year 130,726 117,258 104,195 Prior years (690 ) (220 ) (320 ) Total reported medical costs 130,036 117,038 103,875 Medical payments: Payments for current year (113,811 ) (101,696 ) (90,630 ) Payments for prior years (14,828 ) (13,281 ) (10,955 ) Total medical payments (128,639 ) (114,977 ) (101,585 ) Medical costs payable, end of period $ 17,871 $ 16,391 $ 14,330 |
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Table Text Block] | The following is information about incurred and paid medical cost development as of December 31, 2017 : Net Incurred Medical Costs (in millions) For the Years ended December 31, Year 2016 2017 2016 $ 117,258 $ 116,622 2017 130,726 Total $ 247,348 Net Cumulative Medical Payments (in millions) For the Years ended December 31, Year 2016 2017 2016 $ (101,696 ) $ (116,187 ) 2017 (113,811 ) Total (229,998 ) Net remaining outstanding liabilities prior to 2016 521 Total medical costs payable $ 17,871 |
Commercial Paper and Long-Ter32
Commercial Paper and Long-Term Debt (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Debt Instrument [Line Items] | |
Commercial Paper and Long-Term Debt [Table Text Block] | Commercial paper and senior unsecured long-term debt consisted of the following: December 31, 2017 December 31, 2016 (in millions, except percentages) Par Value Carrying Value Fair Value Par Value Carrying Value Fair Value Commercial paper $ 150 $ 150 $ 150 $ 3,633 $ 3,633 $ 3,633 Floating rate notes due January 2017 — — — 750 750 750 6.000% notes due June 2017 — — — 441 446 450 1.450% notes due July 2017 — — — 750 750 751 1.400% notes due October 2017 — — — 625 624 626 6.000% notes due November 2017 — — — 156 159 163 1.400% notes due December 2017 — — — 750 751 750 6.000% notes due February 2018 1,100 1,101 1,106 1,100 1,107 1,153 1.900% notes due July 2018 1,500 1,499 1,501 1,500 1,496 1,507 1.700% notes due February 2019 750 749 747 750 748 748 1.625% notes due March 2019 500 501 497 500 501 498 2.300% notes due December 2019 500 495 501 500 498 504 2.700% notes due July 2020 1,500 1,496 1,517 1,500 1,495 1,523 Floating rate notes due October 2020 300 299 300 — — — 3.875% notes due October 2020 450 446 467 450 450 474 1.950% notes due October 2020 900 895 892 — — — 4.700% notes due February 2021 400 403 425 400 409 433 2.125% notes due March 2021 750 746 744 750 745 741 3.375% notes due November 2021 500 493 516 500 497 519 2.875% notes due December 2021 750 741 760 750 748 760 2.875% notes due March 2022 1,100 1,054 1,114 1,100 1,057 1,114 3.350% notes due July 2022 1,000 996 1,033 1,000 995 1,030 2.375% notes due October 2022 900 893 891 — — — 0.000% notes due November 2022 15 12 12 15 11 12 2.750% notes due February 2023 625 606 626 625 609 622 2.875% notes due March 2023 750 762 759 750 771 753 3.750% notes due July 2025 2,000 1,987 2,108 2,000 1,986 2,070 3.100% notes due March 2026 1,000 995 1,007 1,000 994 986 3.450% notes due January 2027 750 745 776 750 745 762 3.375% notes due April 2027 625 618 642 — — — 2.950% notes due October 2027 950 937 947 — — — 4.625% notes due July 2035 1,000 991 1,165 1,000 991 1,090 5.800% notes due March 2036 850 837 1,105 850 837 1,034 6.500% notes due June 2037 500 491 698 500 491 643 6.625% notes due November 2037 650 641 923 650 640 850 6.875% notes due February 2038 1,100 1,075 1,596 1,100 1,075 1,497 5.700% notes due October 2040 300 296 389 300 296 366 5.950% notes due February 2041 350 345 466 350 345 437 4.625% notes due November 2041 600 588 685 600 588 634 4.375% notes due March 2042 502 483 555 502 483 509 3.950% notes due October 2042 625 607 650 625 606 609 4.250% notes due March 2043 750 734 822 750 734 765 4.750% notes due July 2045 2,000 1,972 2,362 2,000 1,972 2,203 4.200% notes due January 2047 750 738 808 750 737 759 4.250% notes due April 2047 725 717 798 — — — 3.750% notes due October 2047 950 933 969 — — — Total commercial paper and long-term debt $ 31,417 $ 31,067 $ 34,029 $ 33,022 $ 32,770 $ 34,728 |
Schedule of Maturities of Long-term Debt [Table Text Block] | Maturities of commercial paper and long-term debt for the years ending December 31 are as follows: (in millions) 2018 $ 2,857 2019 1,850 2020 3,250 2021 2,500 2022 3,115 Thereafter 18,470 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Income Tax Contingency [Line Items] | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | The components of the provision for income taxes for the years ended December 31 are as follows: (in millions) 2017 2016 2015 Current Provision: Federal $ 3,597 $ 4,302 $ 4,109 State and local 314 312 281 Foreign 254 95 46 Total current provision 4,165 4,709 4,436 Deferred (benefit) provision (965 ) 81 (73 ) Total provision for income taxes $ 3,200 $ 4,790 $ 4,363 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | The reconciliation of the tax provision at the U.S. federal statutory rate to the provision for income taxes and the effective tax rate for the years ended December 31 is as follows: (in millions, except percentages) 2017 2016 2015 Tax provision at the U.S. federal statutory rate $ 4,908 35.0 % $ 4,152 35.0 % $ 3,581 35.0 % Change in tax law (1,199 ) (8.6 ) — — — — State income taxes, net of federal benefit 197 1.4 205 1.7 145 1.4 Share-based awards - excess tax benefit (319 ) (2.3 ) (158 ) (1.3 ) — — Non-deductible compensation 175 1.3 128 1.1 103 1.0 Health insurance industry tax — — 645 5.4 627 6.1 Foreign rate differential (282 ) (2.0 ) (105 ) (0.9 ) (34 ) (0.3 ) Other, net (280 ) (2.0 ) (77 ) (0.6 ) (59 ) (0.6 ) Provision for income taxes $ 3,200 22.8 % $ 4,790 40.4 % $ 4,363 42.6 % |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | Deferred income tax assets and liabilities are recognized for the differences between the financial and income tax reporting bases of assets and liabilities based on enacted tax rates and laws. The components of deferred income tax assets and liabilities as of December 31 are as follows: (in millions) 2017 2016 Deferred income tax assets: Accrued expenses and allowances $ 544 $ 820 U.S. federal and state net operating loss carryforwards 216 147 Share-based compensation 97 126 Nondeductible liabilities 169 236 Non-U.S. tax loss carryforwards 445 434 Other-domestic 167 476 Other-non-U.S. 198 175 Subtotal 1,836 2,414 Less: valuation allowances (64 ) (55 ) Total deferred income tax assets 1,772 2,359 Deferred income tax liabilities: U.S. federal and state intangible assets (1,998 ) (3,055 ) Non-U.S. goodwill and intangible assets (602 ) (584 ) Capitalized software (530 ) (707 ) Depreciation and amortization (236 ) (332 ) Prepaid expenses (223 ) (228 ) Outside basis in partnerships (279 ) (132 ) Other-non-U.S. (86 ) (82 ) Total deferred income tax liabilities (3,954 ) (5,120 ) Net deferred income tax liabilities $ (2,182 ) $ (2,761 ) |
Summary of Positions for which Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Table Text Block] | A reconciliation of the beginning and ending amount of unrecognized tax benefits as of December 31 is as follows: (in millions) 2017 2016 2015 Gross unrecognized tax benefits, beginning of period $ 263 $ 224 $ 92 Gross increases: Current year tax positions 356 37 — Prior year tax positions 40 24 55 Acquired reserves — — 89 Gross decreases: Prior year tax positions (33 ) (4 ) (2 ) Settlements (24 ) (6 ) (1 ) Statute of limitations lapses (4 ) (12 ) (9 ) Gross unrecognized tax benefits, end of period $ 598 $ 263 $ 224 |
Shareholders' Equity (Tables)
Shareholders' Equity (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Shareholders' Equity [Abstract] | |
Share Repurchase Activity | A summary of common share repurchases for the years ended December 31, 2017 and 2016 is as follows: Years Ended December 31, (in millions, except per share data) 2017 2016 Common share repurchases, shares 9 10 Common share repurchases, average price per share $ 173.54 $ 128.97 Common share repurchases, aggregate cost $ 1,500 $ 1,280 Board authorized shares remaining 42 51 |
Share-Based Compensation (Table
Share-Based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock Option and SAR Activity [Table Text Block] | Stock option and SAR activity for the year ended December 31, 2017 is summarized in the table below: Shares Weighted- Average Exercise Price Weighted- Average Remaining Contractual Life Aggregate Intrinsic Value (in millions) (in years) (in millions) Outstanding at beginning of period 36 $ 84 Granted 15 111 Exercised (12 ) 55 Forfeited (2 ) 125 Outstanding at end of period 37 102 6.6 $ 4,443 Exercisable at end of period 16 67 4.8 2,412 Vested and expected to vest, end of period 36 101 6.6 4,363 |
Restricted Share Activity [Table Text Block] | Restricted share activity for the year ended December 31, 2017 is summarized in the table below: (shares in millions) Shares Weighted-Average Grant Date Fair Value per Share Nonvested at beginning of period 7 $ 96 Granted 3 163 Vested (3 ) 84 Nonvested at end of period 7 128 |
Other Share-Based Compensation Data [Table Text Block] | Other Share-Based Compensation Data (in millions, except per share amounts) For the Years Ended December 31, 2017 2016 2015 Stock Options and SARs Weighted-average grant date fair value of shares granted, per share $ 29 $ 20 $ 22 Total intrinsic value of stock options and SARs exercised 1,473 595 482 Restricted Shares Weighted-average grant date fair value of shares granted, per share 163 115 110 Total fair value of restricted shares vested $ 460 $ 274 $ 460 Employee Stock Purchase Plan Number of shares purchased 2 2 2 Share-Based Compensation Items Share-based compensation expense, before tax $ 597 $ 485 $ 406 Share-based compensation expense, net of tax effects 531 417 348 Income tax benefit realized from share-based award exercises 431 236 247 (in millions, except years) December 31, 2017 Unrecognized compensation expense related to share awards $ 593 Weighted-average years to recognize compensation expense 1.3 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | The principal assumptions the Company used in calculating grant-date fair value for stock options and SARs were as follows: For the Years Ended December 31, 2017 2016 2015 Risk-free interest rate 1.9% - 2.1% 1.2% - 1.4% 1.6% - 1.7% Expected volatility 18.5% - 20.7% 20.8% - 22.5% 22.3% - 24.1% Expected dividend yield 1.4% - 1.6% 1.8% 1.4% - 1.7% Forfeiture rate 5.0% 5.0% 5.0% Expected life in years 5.7 5.6 - 5.9 5.5 - 6.1 |
Commitments and Contingencies36
Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Operating Leased Assets [Line Items] | |
Lessee, Operating Lease, Disclosure [Table Text Block] | As of December 31, 2017 , future minimum annual lease payments, net of sublease income, under all non-cancelable operating leases were as follows: (in millions) Future Minimum Lease Payments 2018 $ 538 2019 470 2020 414 2021 350 2022 501 Thereafter 809 |
Segment Financial Information37
Segment Financial Information (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
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 2017 Revenues - unaffiliated customers: Premiums $ 154,709 $ 3,744 $ — $ — $ — $ 3,744 $ — $ 158,453 Products — 44 106 26,216 — 26,366 — 26,366 Services 7,890 4,013 2,849 565 — 7,427 — 15,317 Total revenues - unaffiliated customers 162,599 7,801 2,955 26,781 — 37,537 — 200,136 Total revenues - affiliated customers — 12,429 5,127 36,954 (1,227 ) 53,283 (53,283 ) — Investment and other income 658 340 5 20 — 365 — 1,023 Total revenues $ 163,257 $ 20,570 $ 8,087 $ 63,755 $ (1,227 ) $ 91,185 $ (53,283 ) $ 201,159 Earnings from operations $ 8,498 $ 1,823 $ 1,770 $ 3,118 $ — $ 6,711 $ — $ 15,209 Interest expense — — — — — — (1,186 ) (1,186 ) Earnings before income taxes $ 8,498 $ 1,823 $ 1,770 $ 3,118 $ — $ 6,711 $ (1,186 ) $ 14,023 Total assets $ 76,676 $ 26,931 $ 11,273 $ 29,551 $ — $ 67,755 $ (5,373 ) $ 139,058 Purchases of property, equipment and capitalized software 737 510 588 188 — 1,286 — 2,023 Depreciation and amortization 758 380 614 493 — 1,487 — 2,245 2016 Revenues - unaffiliated customers: Premiums $ 140,455 $ 3,663 $ — $ — $ — $ 3,663 $ — $ 144,118 Products 1 48 103 26,506 — 26,657 — 26,658 Services 7,514 2,498 2,670 554 — 5,722 — 13,236 Total revenues - unaffiliated customers 147,970 6,209 2,773 27,060 — 36,042 — 184,012 Total revenues - affiliated customers — 10,491 4,559 33,372 (1,088 ) 47,334 (47,334 ) — Investment and other income 611 208 1 8 — 217 — 828 Total revenues $ 148,581 $ 16,908 $ 7,333 $ 60,440 $ (1,088 ) $ 83,593 $ (47,334 ) $ 184,840 Earnings from operations $ 7,307 $ 1,428 $ 1,513 $ 2,682 $ — $ 5,623 $ — $ 12,930 Interest expense — — — — — — (1,067 ) (1,067 ) Earnings before income taxes $ 7,307 $ 1,428 $ 1,513 $ 2,682 $ — $ 5,623 $ (1,067 ) $ 11,863 Total assets $ 70,505 $ 18,656 $ 9,017 $ 29,066 $ — $ 56,739 $ (4,434 ) $ 122,810 Purchases of property, equipment and capitalized software 640 345 571 149 — 1,065 — 1,705 Depreciation and amortization 724 297 559 475 — 1,331 — 2,055 2015 Revenues - unaffiliated customers: Premiums $ 124,011 $ 3,152 $ — $ — $ — $ 3,152 $ — $ 127,163 Products 2 31 108 17,171 — 17,310 — 17,312 Services 6,776 2,375 2,390 381 — 5,146 — 11,922 Total revenues - unaffiliated customers 130,789 5,558 2,498 17,552 — 25,608 — 156,397 Total revenues - affiliated customers — 8,216 3,697 30,718 (791 ) 41,840 (41,840 ) — Investment and other income 554 153 1 2 — 156 — 710 Total revenues $ 131,343 $ 13,927 $ 6,196 $ 48,272 $ (791 ) $ 67,604 $ (41,840 ) $ 157,107 Earnings from operations $ 6,754 $ 1,240 $ 1,278 $ 1,749 $ — $ 4,267 $ — $ 11,021 Interest expense — — — — — — (790 ) (790 ) Earnings before income taxes $ 6,754 $ 1,240 $ 1,278 $ 1,749 $ — $ 4,267 $ (790 ) $ 10,231 Total assets $ 64,212 $ 14,600 $ 8,335 $ 26,844 $ — $ 49,779 $ (2,737 ) $ 111,254 Purchases of property, equipment and capitalized software 653 252 572 79 — 903 — 1,556 Depreciation and amortization 718 251 492 232 — 975 — 1,693 |
Quarterly Financial Data (Una38
Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Schedule of Quarterly Financial Information [Table Text Block] | Selected quarterly financial information for all quarters of 2017 and 2016 is as follows: For the Quarter Ended (in millions, except per share data) March 31 June 30 September 30 December 31 2017 Revenues $ 48,723 $ 50,053 $ 50,322 $ 52,061 Operating costs 45,310 46,322 46,234 48,084 Earnings from operations 3,413 3,731 4,088 3,977 Net earnings 2,191 2,350 2,561 3,721 Net earnings attributable to UnitedHealth Group common shareholders 2,172 2,284 2,485 3,617 Net earnings per share attributable to UnitedHealth Group common shareholders: Basic 2.28 2.37 2.57 3.73 Diluted 2.23 2.32 2.51 3.65 2016 Revenues $ 44,527 $ 46,485 $ 46,293 $ 47,535 Operating costs 41,567 43,282 42,713 44,348 Earnings from operations 2,960 3,203 3,580 3,187 Net earnings 1,627 1,760 1,978 1,708 Net earnings attributable to UnitedHealth Group common shareholders 1,611 1,754 1,968 1,684 Net earnings per share attributable to UnitedHealth Group common shareholders: Basic 1.69 1.84 2.07 1.77 Diluted 1.67 1.81 2.03 1.74 |
Schedule I (Tables)
Schedule I (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Condensed Financial Statements, Captions [Line Items] | |
Schedule of Maturities of Long-term Debt [Table Text Block] | Maturities of commercial paper and long-term debt for the years ending December 31 are as follows: (in millions) 2018 $ 2,857 2019 1,850 2020 3,250 2021 2,500 2022 3,115 Thereafter 18,470 |
Parent Company [Member] | |
Condensed Financial Statements, Captions [Line Items] | |
Condensed Balance Sheet [Table Text Block] | Condensed Financial Information of Registrant (Parent Company Only) UnitedHealth Group Condensed Balance Sheets (in millions, except per share data) December 31, December 31, Assets Current assets: Cash and cash equivalents $ 359 $ 180 Short-term notes receivable from subsidiaries — 755 Other current assets 575 140 Total current assets 934 1,075 Equity in net assets of subsidiaries 76,231 60,593 Long-term notes receivable from subsidiaries 4,278 9,912 Other assets 839 248 Total assets $ 82,282 $ 71,828 Liabilities and shareholders’ equity Current liabilities: Accounts payable and accrued liabilities $ 502 $ 452 Current portion of notes payable to subsidiaries 466 280 Commercial paper and current maturities of long-term debt 2,749 7,113 Total current liabilities 3,717 7,845 Long-term debt, less current maturities 28,318 25,657 Long-term notes payable to subsidiaries 1,518 — Other liabilities 953 52 Total liabilities 34,506 33,554 Commitments and contingencies (Note 4) Shareholders’ equity: Preferred stock, $0.001 par value -10 shares authorized; no shares issued or outstanding — — Common stock, $0.01 par value - 3,000 shares authorized; 969 and 952 issued and outstanding 10 10 Additional paid-in capital 1,703 — Retained earnings 48,730 40,945 Accumulated other comprehensive loss (2,667 ) (2,681 ) Total UnitedHealth Group shareholders’ equity 47,776 38,274 Total liabilities and shareholders’ equity $ 82,282 $ 71,828 |
Condensed Statement of Comprehensive Income [Table Text Block] | Condensed Financial Information of Registrant (Parent Company Only) UnitedHealth Group Condensed Statements of Comprehensive Income For the Years Ended December 31, (in millions) 2017 2016 2015 Revenues: Investment and other income $ 527 $ 522 $ 396 Total revenues 527 522 396 Operating costs: Operating costs — (22 ) (17 ) Interest expense 1,114 995 717 Total operating costs 1,114 973 700 Loss before income taxes (587 ) (451 ) (304 ) Benefit for income taxes 214 165 111 Loss of parent company (373 ) (286 ) (193 ) Equity in undistributed income of subsidiaries 10,931 7,303 6,006 Net earnings 10,558 7,017 5,813 Other comprehensive income (loss) 14 653 (1,942 ) Comprehensive income $ 10,572 $ 7,670 $ 3,871 |
Condensed Cash Flow Statement [Table Text Block] | Condensed Financial Information of Registrant (Parent Company Only) UnitedHealth Group Condensed Statements of Cash Flows For the Years Ended December 31, (in millions) 2017 2016 2015 Operating activities Cash flows from operating activities $ 2,021 $ 4,294 $ 1,727 Investing activities Repayments (issuances) of notes to subsidiaries 2,071 (824 ) (5,064 ) Cash paid for acquisitions (2,313 ) (2,292 ) (12,270 ) Return of capital to parent company 3,375 2,143 4,375 Capital contributions to subsidiaries (959 ) (765 ) (1,109 ) Other, net — 168 140 Cash flows from (used for) investing activities 2,174 (1,570 ) (13,928 ) Financing activities Common stock repurchases (1,500 ) (1,280 ) (1,200 ) Proceeds from common stock issuances 688 429 402 Cash dividends paid (2,773 ) (2,261 ) (1,786 ) (Repayments of) proceeds from commercial paper, net (3,508 ) (382 ) 3,666 Proceeds from issuance of long-term debt 5,291 3,968 11,982 Repayments of long-term debt (3,472 ) (2,596 ) (1,041 ) Proceeds (repayments) of notes from subsidiary 1,704 (30 ) 95 Other, net (446 ) (421 ) (447 ) Cash flows (used for) from financing activities (4,016 ) (2,573 ) 11,671 Increase (decrease) in cash and cash equivalents 179 151 (530 ) Cash and cash equivalents, beginning of period 180 29 559 Cash and cash equivalents, end of period $ 359 $ 180 $ 29 Supplemental cash flow disclosures Cash paid for interest $ 1,062 $ 974 $ 573 Cash paid for income taxes 3,455 4,557 4,294 Supplemental schedule of non-cash investing activities Common stock issued for acquisitions $ 2,164 $ — $ — Conversion of note receivable from subsidiaries to equity 4,378 — — |
Schedule of Maturities of Long-term Debt [Table Text Block] | Maturities of commercial paper and long-term debt for the years ending December 31 are as follows: (in millions) 2018 $ 2,750 2019 1,750 2020 3,150 2021 2,400 2022 3,015 Thereafter 18,352 |
Basis of Presentation, Uses o40
Basis of Presentation, Uses of Estimates and Significant Accounting Policies (Details) $ in Millions | 12 Months Ended | |
Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | |
Accounts payable and accrued liabilities | $ 15,180 | $ 13,361 |
Other current receivables | 6,262 | 7,499 |
Goodwill, Impairment Loss | 0 | |
Impairment of Intangible Assets (Excluding Goodwill) | $ 0 | |
Number Of Days Notice Required To Cancel Health Insurance Contract | 30 days | |
Accounts Receivable, Net, Current | $ 9,568 | 8,152 |
Other Liabilities, Current | 12,286 | 10,339 |
Other Current Liabilities [Member] | ||
Health savings account deposits | $ 6,400 | 5,700 |
Restricted Stock [Member] | Minimum [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 2 years | |
Restricted Stock [Member] | Maximum [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 5 years | |
Stock Options and SARs [Member] [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years | |
Share-based Compensation Arrangement by Share-based Payment Plan Award, Options, Award Exercisable Period | 10 years | |
Employee Stock Purchase Plan (ESPP) [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Discount from Market Price, Offering Date | 85.00% | |
Accounting Standards Update 2014-09 [Member] | ||
New Accounting Pronouncement or Change in Accounting Principle, Description of Transition Method | Modified Retrospective | |
New Accounting Pronouncement, Transition Guidance Not Significant or Not Practical | Impact is not material | |
Accounting Standards Update 2016-02 [Member] | ||
New Accounting Pronouncement or Change in Accounting Principle, Description of Transition Method | Modified Retrospective | |
New Accounting Pronouncement, Transition Guidance Not Significant or Not Practical | Impact is not material | |
Accounting Standards Update 2016-01 [Member] | ||
New Accounting Pronouncement, Transition Guidance Not Significant or Not Practical | Impact is not material | |
Health Insurance Product Line [Member] | ||
Short-duration Insurance Contracts, Historical Claims Duration, First 90 Days | 0.9 | |
Products and services [Member] | ||
Accounts Receivable, Net, Current | $ 3,700 | |
Pharmaceutical Manufacturer Rebates Receivable [Member] | ||
Other current receivables | 3,800 | 3,300 |
Medicare Part D Liabilities [Member] | ||
Other Liabilities, Current | 1,600 | 700 |
Medicare Part D Receivables [Member] | ||
Other current receivables | $ 500 | $ 1,500 |
Basis of Presentation, Uses o41
Basis of Presentation, Uses of Estimates and Significant Accounting Policies Useful lives for property, equipment and capitalized software (Details) | 12 Months Ended |
Dec. 31, 2017 | |
Furniture, Fixtures and equipment [Member] | Minimum [Member] | |
Property, Plant and Equipment [Line Items] | |
Useful Life | 3 years |
Furniture, Fixtures and equipment [Member] | Maximum [Member] | |
Property, Plant and Equipment [Line Items] | |
Useful Life | 10 years |
Buildings [Member] | Minimum [Member] | |
Property, Plant and Equipment [Line Items] | |
Useful Life | 35 years |
Buildings [Member] | Maximum [Member] | |
Property, Plant and Equipment [Line Items] | |
Useful Life | 40 years |
Capitalized software [Member] | Minimum [Member] | |
Property, Plant and Equipment [Line Items] | |
Useful Life | 3 years |
Capitalized software [Member] | Maximum [Member] | |
Property, Plant and Equipment [Line Items] | |
Useful Life | 5 years |
Basis of Presentation, Uses o42
Basis of Presentation, Uses of Estimates and Significant Accounting Policies Redeemable Noncontrolling Interests (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Noncontrolling Interest [Line Items] | |||
Redeemable noncontrolling interest, beginning of period | $ 2,012 | ||
Acquisitions | 2,112 | $ 9 | |
Redemptions | 283 | $ (143) | |
Distributions | (152) | (32) | (140) |
Fair value and other adjustments | (113) | 216 | 225 |
Redeemable Noncontrolling Interest, end of period | 2,189 | 2,012 | |
Redeemable Noncontrolling Interests [Member] | |||
Noncontrolling Interest [Line Items] | |||
Redeemable noncontrolling interest, beginning of period | 2,012 | 1,736 | |
Net earnings | 71 | 16 | |
Acquisitions | 565 | 34 | |
Redemptions | (309) | (123) | |
Distributions | (38) | (11) | |
Fair value and other adjustments | (112) | 360 | |
Redeemable Noncontrolling Interest, end of period | $ 2,189 | $ 2,012 | $ 1,736 |
Investments (Narrative) (Detail
Investments (Narrative) (Details) $ in Millions | Dec. 31, 2017USD ($)positions |
Investment [Line Items] | |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | positions | 13,000 |
Total number of security positions | 29,000 |
Equity Method Investments | $ | $ 898 |
Investments (Short-Term and Lon
Investments (Short-Term and Long-Term Investments) (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Schedule of Investments [Line Items] | ||
Available-for-sale Debt Securities, Amortized Cost Basis | $ 28,410 | $ 24,330 |
Securities, Available for sale Debt Securities, Gross Unrealized Gains | 167 | 92 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax | (153) | (243) |
Available-for-sale Securities, Debt Securities | 28,424 | 24,179 |
Available-for-sale Equity Securities, Amortized Cost Basis | 2,026 | 2,036 |
Securities, Available for sale Equity Securities, Gross Unrealized Gains | 7 | 52 |
Securities, Available for sale Equity Securities, Gross Unrealized Losses | (41) | (47) |
Available-for-sale Securities, Equity Securities | 1,992 | 2,041 |
Held-to-maturity securities, Amortized Cost | 536 | 493 |
Securities, Held to maturity, Unrecognized Holding Gain | 1 | 1 |
Held-to-maturity Securities, Accumulated Unrecognized Holding Loss | (1) | 0 |
Held-to-maturity Securities, Fair Value | 536 | 494 |
Total investments, Amortized Cost | 30,972 | 26,859 |
Total investments, Gross Unrealized Gains | 175 | 145 |
Total investments, Gross Unrealized Losses | (195) | (290) |
Investments, Fair Value Disclosure | 30,952 | 26,714 |
Debt Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Available-for-sale Securities, Debt Securities | 28,424 | 24,179 |
U.S. Government and Agency Obligations [Member] | ||
Schedule of Investments [Line Items] | ||
Available-for-sale Debt Securities, Amortized Cost Basis | 2,673 | 2,294 |
Securities, Available for sale Debt Securities, Gross Unrealized Gains | 1 | 1 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax | (30) | (31) |
Available-for-sale Securities, Debt Securities | 2,644 | 2,264 |
Held-to-maturity securities, Amortized Cost | 254 | 250 |
Securities, Held to maturity, Unrecognized Holding Gain | 1 | 1 |
Held-to-maturity Securities, Accumulated Unrecognized Holding Loss | (1) | 0 |
Held-to-maturity Securities, Fair Value | 254 | 251 |
State and Municipal Obligations [Member] | ||
Schedule of Investments [Line Items] | ||
Available-for-sale Debt Securities, Amortized Cost Basis | 7,596 | 7,120 |
Securities, Available for sale Debt Securities, Gross Unrealized Gains | 99 | 40 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax | (35) | (101) |
Available-for-sale Securities, Debt Securities | 7,660 | 7,059 |
Held-to-maturity securities, Amortized Cost | 2 | 5 |
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 | 2 | 5 |
Corporate Obligations [Member] | ||
Schedule of Investments [Line Items] | ||
Available-for-sale Debt Securities, Amortized Cost Basis | 13,181 | 10,944 |
Securities, Available for sale Debt Securities, Gross Unrealized Gains | 57 | 41 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax | (44) | (58) |
Available-for-sale Securities, Debt Securities | 13,194 | 10,927 |
Held-to-maturity securities, Amortized Cost | 280 | 238 |
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 | 280 | 238 |
U.S. Agency Mortgage-Backed Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Available-for-sale Debt Securities, Amortized Cost Basis | 3,942 | 2,963 |
Securities, Available for sale Debt Securities, Gross Unrealized Gains | 7 | 7 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax | (38) | (43) |
Available-for-sale Securities, Debt Securities | 3,911 | 2,927 |
Non-U.S. Agency Mortgage-Backed Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Available-for-sale Debt Securities, Amortized Cost Basis | 1,018 | 1,009 |
Securities, Available for sale Debt Securities, Gross Unrealized Gains | 3 | 3 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax | (6) | (10) |
Available-for-sale Securities, Debt Securities | $ 1,015 | $ 1,002 |
Investments (Amortized Cost and
Investments (Amortized Cost and Fair Value of Available-for-Sale Debt Securities by Contractual Maturity) (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Schedule of Investments [Line Items] | ||
Due in one year or less, Amortized Cost | $ 3,630 | |
Due after one year through five years, Amortized Cost | 10,658 | |
Due after five years through ten years, Amortized Cost | 6,894 | |
Due after ten years, Amortized Cost | 2,268 | |
Total debt securities - available-for-sale, Amortized Cost | 28,410 | $ 24,330 |
Due in one year or less, Fair Value | 3,628 | |
Due after one year through five years, Fair Value | 10,631 | |
Due after five years through ten years, Fair Value | 6,932 | |
Due after ten years, Fair Value | 2,307 | |
Available-for-sale Securities, Debt Securities | 28,424 | 24,179 |
Held-to-maturity Securities, Debt Maturities, within One Year, Net Carrying Amount | 155 | |
Held-to-maturity Securities, Debt Maturities, Next Twelve Months, Fair Value | 155 | |
Held-to-maturity Securities, Debt Maturities, after One Through Five Years, Net Carrying Amount | 131 | |
Held-to-maturity Securities, Debt Maturities, Year Two Through Five, Fair Value | 130 | |
Held-to-maturity Securities, Debt Maturities, after Five Through Ten Years, Net Carrying Amount | 103 | |
Held-to-maturity Securities, Debt Maturities, Year Six Through Ten, Fair Value | 103 | |
Held-to-maturity Securities, Debt Maturities, after Ten Years, Net Carrying Amount | 147 | |
Held-to-maturity Securities, Debt Maturities, after Ten Years, Fair Value | 148 | |
Held-to-maturity Securities | 536 | 493 |
Held-to-maturity Securities, Fair Value | 536 | 494 |
U.S. Agency Mortgage-Backed Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Mortgage-backed securities, Amortized Cost | 3,942 | |
Total debt securities - available-for-sale, Amortized Cost | 3,942 | 2,963 |
Available-for-sale Securities, Debt Securities | 3,911 | 2,927 |
Mortgage-backed securities, Fair Value | 3,911 | |
Non-U.S. Agency Mortgage-Backed Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Mortgage-backed securities, Amortized Cost | 1,018 | |
Total debt securities - available-for-sale, Amortized Cost | 1,018 | 1,009 |
Available-for-sale Securities, Debt Securities | 1,015 | $ 1,002 |
Mortgage-backed securities, Fair Value | $ 1,015 |
Investments (Fair Value of Avai
Investments (Fair Value of Available-For-Sale Investments with Gross Unrealized Losses by Investment Type and Length of Time That Individual Securities Have Been in a Continuous Unrealized Loss Position) (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Debt Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Less Than 12 Months, Fair Value | $ 11,817 | $ 14,089 |
Less Than 12 Months, Gross Unrealized Losses | (67) | (235) |
Greater Than 12 Months, Fair Value | 4,441 | 313 |
Greater Than 12 Months, Gross Unrealized Losses | (86) | (8) |
Total, Fair Value | 16,258 | 14,402 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (153) | (243) |
U.S. Government and Agency Obligations [Member] | ||
Schedule of Investments [Line Items] | ||
Less Than 12 Months, Fair Value | 1,249 | 1,794 |
Less Than 12 Months, Gross Unrealized Losses | (8) | (31) |
Greater Than 12 Months, Fair Value | 1,027 | |
Greater Than 12 Months, Gross Unrealized Losses | (22) | |
Total, Fair Value | 2,276 | 1,794 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (30) | (31) |
State and Municipal Obligations [Member] | ||
Schedule of Investments [Line Items] | ||
Less Than 12 Months, Fair Value | 2,599 | 4,376 |
Less Than 12 Months, Gross Unrealized Losses | (21) | (101) |
Greater Than 12 Months, Fair Value | 866 | |
Greater Than 12 Months, Gross Unrealized Losses | (14) | |
Total, Fair Value | 3,465 | 4,376 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (35) | (101) |
Corporate Obligations [Member] | ||
Schedule of Investments [Line Items] | ||
Less Than 12 Months, Fair Value | 5,901 | 5,128 |
Less Than 12 Months, Gross Unrealized Losses | (23) | (56) |
Greater Than 12 Months, Fair Value | 1,242 | 137 |
Greater Than 12 Months, Gross Unrealized Losses | (21) | (2) |
Total, Fair Value | 7,143 | 5,265 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (44) | (58) |
U.S. Agency Mortgage-Backed Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Less Than 12 Months, Fair Value | 1,657 | 2,247 |
Less Than 12 Months, Gross Unrealized Losses | (12) | (40) |
Greater Than 12 Months, Fair Value | 1,162 | 79 |
Greater Than 12 Months, Gross Unrealized Losses | (26) | (3) |
Total, Fair Value | 2,819 | 2,326 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (38) | (43) |
Non-U.S. Agency Mortgage-Backed Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Less Than 12 Months, Fair Value | 411 | 544 |
Less Than 12 Months, Gross Unrealized Losses | (3) | (7) |
Greater Than 12 Months, Fair Value | 144 | 97 |
Greater Than 12 Months, Gross Unrealized Losses | (3) | (3) |
Total, Fair Value | 555 | 641 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (6) | (10) |
Equity Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Less Than 12 Months, Fair Value | 97 | 93 |
Less Than 12 Months, Gross Unrealized Losses | (5) | (5) |
Greater Than 12 Months, Fair Value | 105 | 91 |
Greater Than 12 Months, Gross Unrealized Losses | (36) | (42) |
Total, Fair Value | 202 | 184 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | $ (41) | $ (47) |
Investments (Net Realized Gains
Investments (Net Realized Gains) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Schedule of Available-for-sale Securities [Line Items] | |||
Income tax effect (included in Provision for Income Taxes on the Consolidated Statements of Operations) | $ (3,200) | $ (4,790) | $ (4,363) |
Reclassification out of Accumulated Other Comprehensive Income [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Total other than temporary impairment recognized in earnings | (9) | (45) | (22) |
Gross realized losses from sales | (33) | (44) | (28) |
Gross realized gains from sales | 125 | 255 | 191 |
Net realized gains (included in investment and other income on the Consolidated Statements of Operations) | 83 | 166 | 141 |
Income tax effect (included in Provision for Income Taxes on the Consolidated Statements of Operations) | (30) | (60) | (53) |
Realized gains, net of taxes | $ 53 | $ 106 | $ 88 |
Fair Value (Narrative) (Details
Fair Value (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
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, Measured at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and cash equivalents | $ 11,981 | $ 10,430 |
Available-for-sale Securities, Debt Securities | 28,424 | 24,179 |
Available-for-sale Securities, Equity Securities | 1,992 | 2,041 |
Assets under management | 3,101 | 3,105 |
Total assets at fair value | 45,498 | 39,755 |
Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 28,424 | 24,179 |
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 | 2,644 | 2,264 |
State and Municipal Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 7,660 | 7,059 |
Corporate Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 13,194 | 10,927 |
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 | 3,911 | 2,927 |
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 | 1,015 | 1,002 |
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 | 11,718 | 10,386 |
Available-for-sale Securities, Equity Securities | 1,784 | 1,591 |
Assets under management | 1,117 | 1,064 |
Total assets at fair value | 17,112 | 15,079 |
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 | 2,493 | 2,038 |
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 | 2,428 | 2,017 |
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 | 65 | 21 |
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 | 263 | 44 |
Available-for-sale Securities, Equity Securities | 14 | 13 |
Assets under management | 1,984 | 2,041 |
Total assets at fair value | 28,052 | 24,137 |
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 | 25,791 | 22,039 |
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 | 216 | 247 |
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 | 7,660 | 7,059 |
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 | 12,989 | 10,804 |
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 | 3,911 | 2,927 |
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 | 1,015 | 1,002 |
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 | 194 | 437 |
Assets under management | 0 | 0 |
Total assets at fair value | 334 | 539 |
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 | 140 | 102 |
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 | 140 | 102 |
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 | $ 0 |
Fair Value (Financial Assets 50
Fair Value (Financial Assets and Liabilities, Not Measured at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Held-to-maturity Securities, Fair Value | $ 536 | $ 494 |
Held-to-maturity Securities | 536 | 493 |
Debt and other financing obligations, carrying value | 31,067 | 32,770 |
Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Held-to-maturity Securities, Fair Value | 536 | 494 |
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 | 267 | 271 |
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 | 4 | 8 |
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 | 265 | 215 |
U.S. Government and Agency Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Held-to-maturity Securities | 254 | 250 |
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 | 254 | 251 |
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 | 251 | 251 |
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 | 3 | 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 | 2 | 5 |
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 | 2 | 5 |
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 | 2 | 5 |
Corporate Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Held-to-maturity Securities | 280 | 238 |
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 | 280 | 238 |
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 | 16 | 20 |
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 | 1 | 8 |
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 | 263 | 210 |
Long-term Debt [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt and other financing obligations, carrying value | 31,542 | 29,337 |
Long-term Debt [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt and other financing obligations | 34,504 | 31,295 |
Long-term Debt [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] | ||
Debt and other financing obligations | 0 | 0 |
Long-term Debt [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] | ||
Debt and other financing obligations | 34,504 | 31,295 |
Long-term Debt [Member] | Fair Value, Measurements, Nonrecurring [Member] | Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt and other financing obligations | $ 0 | $ 0 |
Property, Plant, and Capitali51
Property, Plant, and Capitalized Software (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Property, Plant and Equipment [Line Items] | |||
Depreciation | $ 799 | $ 698 | $ 613 |
Capitalized Computer Software, Amortization | $ 550 | $ 475 | $ 430 |
Property, Plant, and Capitali52
Property, Plant, and Capitalized Software Property Plant and Equipment Table (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Property, Plant and Equipment [Line Items] | ||
Land and improvements | $ 405 | $ 324 |
Buildings and improvements | 3,664 | 3,148 |
Computer equipment | 1,829 | 2,021 |
Furniture and fixtures | 1,208 | 999 |
Less accumulated depreciation | (2,488) | (2,621) |
Property and equipment, net | 4,618 | 3,871 |
Capitalized software | 3,601 | 3,158 |
Less accumulated amortization | (1,206) | (1,128) |
Capitalized software, net | 2,395 | 2,030 |
Total property, equipment and capitalized software, net | $ 7,013 | $ 5,901 |
Goodwill and Intangible Asset53
Goodwill and Intangible Assets (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Finite-Lived Intangible Assets [Line Items] | |||
Amortization of Intangible Assets | $ 896 | $ 882 | $ 650 |
Goodwill and Intangible Asset54
Goodwill and Intangible Assets Changes in the Carrying Amount of Goodwill by Reporting Segment (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Goodwill [Line Items] | ||
Goodwill, Beginning Balance | $ 47,584 | $ 44,453 |
Acquisitions | 7,100 | 2,596 |
Foreign currency effects and adjustments, net | (128) | 535 |
Goodwill, Ending Balance | 54,556 | 47,584 |
UnitedHealthcare [Member] | ||
Goodwill [Line Items] | ||
Goodwill, Beginning Balance | 23,854 | 22,925 |
Acquisitions | 690 | 526 |
Foreign currency effects and adjustments, net | (60) | 403 |
Goodwill, Ending Balance | 24,484 | 23,854 |
OptumHealth [Member] | ||
Goodwill [Line Items] | ||
Goodwill, Beginning Balance | 6,322 | 5,660 |
Acquisitions | 5,189 | 683 |
Foreign currency effects and adjustments, net | (23) | (21) |
Goodwill, Ending Balance | 11,488 | 6,322 |
OptumInsight [Member] | ||
Goodwill [Line Items] | ||
Goodwill, Beginning Balance | 4,449 | 4,296 |
Acquisitions | 1,221 | 0 |
Foreign currency effects and adjustments, net | 4 | 153 |
Goodwill, Ending Balance | 5,674 | 4,449 |
OptumRx [Member] | ||
Goodwill [Line Items] | ||
Goodwill, Beginning Balance | 12,959 | 11,572 |
Acquisitions | 0 | 1,387 |
Foreign currency effects and adjustments, net | (49) | 0 |
Goodwill, Ending Balance | $ 12,910 | $ 12,959 |
Goodwill and Intangible Asset55
Goodwill and Intangible Assets Gross carrying value, accumulated amortization and net carrying value of intangible assets (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Intangible Assets [Line Items] | ||
Intangible Assets, Gross (Excluding Goodwill) | $ 12,798 | $ 12,388 |
Finite-Lived Intangible Assets, Accumulated Amortization | (4,309) | (3,847) |
Intangible Assets, Net (Excluding Goodwill) | 8,489 | 8,541 |
Customer-Related Intangible Assets [Member] | ||
Intangible Assets [Line Items] | ||
Intangible Assets, Gross (Excluding Goodwill) | 10,832 | 10,942 |
Finite-Lived Intangible Assets, Accumulated Amortization | (3,743) | (3,416) |
Intangible Assets, Net (Excluding Goodwill) | 7,089 | 7,526 |
Trademarks and Technology [Member] | ||
Intangible Assets [Line Items] | ||
Intangible Assets, Gross (Excluding Goodwill) | 1,054 | 720 |
Finite-Lived Intangible Assets, Accumulated Amortization | (432) | (323) |
Intangible Assets, Net (Excluding Goodwill) | 622 | 397 |
Trademarks and Trade Names [Member] | ||
Intangible Assets [Line Items] | ||
Intangible Assets, Gross (Excluding Goodwill) | 561 | 468 |
Finite-Lived Intangible Assets, Accumulated Amortization | 0 | 0 |
Intangible Assets, Net (Excluding Goodwill) | 561 | 468 |
Other Intangible Assets [Member] | ||
Intangible Assets [Line Items] | ||
Intangible Assets, Gross (Excluding Goodwill) | 351 | 258 |
Finite-Lived Intangible Assets, Accumulated Amortization | (134) | (108) |
Intangible Assets, Net (Excluding Goodwill) | $ 217 | $ 150 |
Goodwill and Intangible Asset56
Goodwill and Intangible Assets Weighted-average useful lives assigned to finite-lived intangible assets acquired in business combinations (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Finite-Lived Intangible Assets [Line Items] | ||
Finite-lived Intangible Assets Acquired | $ 773 | $ 889 |
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 11 years | 16 years |
Customer-Related Intangible Assets [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-lived Intangible Assets Acquired | $ 324 | $ 785 |
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 13 years | 17 years |
Trademarks and Technology [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-lived Intangible Assets Acquired | $ 367 | $ 82 |
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 11 years | 4 years |
Other Intangible Assets [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-lived Intangible Assets Acquired | $ 82 | $ 22 |
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 6 years | 5 years |
Goodwill and Intangible Asset57
Goodwill and Intangible Assets Amortization Expense relating to Intangible Assets (Details) $ in Millions | Dec. 31, 2017USD ($) |
Finite-Lived Intangible Assets [Line Items] | |
2,018 | $ 833 |
2,019 | 756 |
2,020 | 665 |
2,021 | 600 |
2,022 | $ 528 |
Medical Costs Payable (Details)
Medical Costs Payable (Details) - USD ($) $ in Billions | Dec. 31, 2017 | Dec. 31, 2016 |
Liability for Unpaid Claims and Claims Adjustment Expense, Incurred but Not Reported (IBNR) Claims, Amount | $ 12.3 | $ 11.6 |
Medical Costs Payable Rollforwa
Medical Costs Payable Rollforward (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||
Medical costs payable, beginning of period | $ 16,391 | $ 14,330 | $ 12,040 |
Acquisitions | 83 | 0 | 0 |
Reported medical costs: | |||
Current year | 130,726 | 117,258 | 104,195 |
Prior years | (690) | (220) | (320) |
Total reported medical costs | 130,036 | 117,038 | 103,875 |
Medical payments: | |||
Payments for current year | (113,811) | (101,696) | (90,630) |
Payments for prior years | (14,828) | (13,281) | (10,955) |
Total medical payments | (128,639) | (114,977) | (101,585) |
Medical costs payable, end of period | $ 17,871 | $ 16,391 | $ 14,330 |
Medical Costs Payable, Incurred
Medical Costs Payable, Incurred and Paid Medical Cost Development (Details) - Health Insurance Product Line [Member] - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Net Incurred Medical Costs | $ 247,348 | |
Net Cumulative Medical Payments | (229,998) | |
Net remaining outstanding liabilities prior to 2016 | 521 | |
Total Medical costs payable | 17,871 | |
Short-duration Insurance Contracts, Accident Year 2016 [Member] | ||
Net Incurred Medical Costs | 116,622 | $ 117,258 |
Net Cumulative Medical Payments | (116,187) | $ (101,696) |
Short-duration Insurance Contracts, Accident Year 2017 [Member] | ||
Net Incurred Medical Costs | 130,726 | |
Net Cumulative Medical Payments | $ (113,811) |
Commercial Paper and Long-Ter61
Commercial Paper and Long-Term Debt (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Debt Instrument [Line Items] | ||
Repayments of Assumed Debt | $ 926 | |
Minimum [Member] | Revolving Credit Facility [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate During Period | 2.40% | |
Maximum [Member] | Revolving Credit Facility [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate During Period | 2.70% | |
Commercial Paper [Member] | ||
Debt Instrument [Line Items] | ||
Short-term Debt, Weighted Average Interest Rate, at Point in Time | 1.50% | |
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 | |
Maturity Period, Line of Credit | 5 years | |
Three 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 | |
Maturity Period, Line of Credit | 3 years | |
364 Day $4.0 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 | $ 4,000 | |
Maturity Period, Line of Credit | 364 days | |
Subsidiaries [Member] | ||
Debt Instrument [Line Items] | ||
Other Long-term Debt | $ 625 | $ 200 |
Other Long-term Debt, Current | $ 107 | $ 80 |
Commercial Paper and Long-Ter62
Commercial Paper and Long-Term Debt (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Debt Instrument [Line Items] | ||
Par Value | $ 31,417 | $ 33,022 |
Carrying Value | 31,067 | 32,770 |
Fair Value | 34,029 | 34,728 |
Commercial Paper [Member] | ||
Debt Instrument [Line Items] | ||
Par Value | 150 | 3,633 |
Commercial Paper | 150 | 3,633 |
Fair Value | 150 | 3,633 |
Floating-rate Notes Due January 2017 [Member] | ||
Debt Instrument [Line Items] | ||
Par Value | 0 | 750 |
Unsecured Debt, Current | 0 | 750 |
Fair Value | $ 0 | 750 |
6.000% Notes Due June 2017 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 6.00% | |
Par Value | $ 0 | 441 |
Unsecured Debt, Current | 0 | 446 |
Fair Value | $ 0 | 450 |
1.450% Notes Due July 2017 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 1.45% | |
Par Value | $ 0 | 750 |
Unsecured Debt, Current | 0 | 750 |
Fair Value | $ 0 | 751 |
1.400% Notes Due October 2017 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 1.40% | |
Par Value | $ 0 | 625 |
Unsecured Debt, Current | 0 | 624 |
Fair Value | $ 0 | 626 |
6.000% Notes Due November 2017 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 6.00% | |
Par Value | $ 0 | 156 |
Unsecured Debt, Current | 0 | 159 |
Fair Value | $ 0 | 163 |
1.400% Notes Due December 2017 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 1.40% | |
Par Value | $ 0 | 750 |
Unsecured Debt, Current | 0 | 751 |
Fair Value | $ 0 | 750 |
6.000% Notes Due February 2018 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 6.00% | |
Par Value | $ 1,100 | 1,100 |
Unsecured Long-term Debt, Noncurrent | 1,107 | |
Unsecured Debt, Current | 1,101 | |
Fair Value | $ 1,106 | 1,153 |
1.900% Notes Due July 2018 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 1.90% | |
Par Value | $ 1,500 | 1,500 |
Unsecured Long-term Debt, Noncurrent | 1,496 | |
Unsecured Debt, Current | 1,499 | |
Fair Value | $ 1,501 | 1,507 |
1.700% Notes due February 2019 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 1.70% | |
Par Value | $ 750 | 750 |
Unsecured Long-term Debt, Noncurrent | 749 | 748 |
Fair Value | $ 747 | 748 |
1.625% Notes Due March 2019 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 1.625% | |
Par Value | $ 500 | 500 |
Unsecured Long-term Debt, Noncurrent | 501 | 501 |
Fair Value | $ 497 | 498 |
2.300% Notes Due December 2019 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 2.30% | |
Par Value | $ 500 | 500 |
Unsecured Long-term Debt, Noncurrent | 495 | 498 |
Fair Value | $ 501 | 504 |
2.700% Notes Due July 2020 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 2.70% | |
Par Value | $ 1,500 | 1,500 |
Unsecured Long-term Debt, Noncurrent | 1,496 | 1,495 |
Fair Value | 1,517 | 1,523 |
Floating rate notes due October 2020 [Member] | ||
Debt Instrument [Line Items] | ||
Par Value | 300 | 0 |
Unsecured Long-term Debt, Noncurrent | 299 | 0 |
Fair Value | $ 300 | 0 |
3.875% Notes Due October 2020 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.875% | |
Par Value | $ 450 | 450 |
Unsecured Long-term Debt, Noncurrent | 446 | 450 |
Fair Value | $ 467 | 474 |
1.950% notes due October 2020 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 1.95% | |
Par Value | $ 900 | 0 |
Unsecured Long-term Debt, Noncurrent | 895 | 0 |
Fair Value | $ 892 | 0 |
4.700% Notes Due February 2021 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 4.70% | |
Par Value | $ 400 | 400 |
Unsecured Long-term Debt, Noncurrent | 403 | 409 |
Fair Value | $ 425 | 433 |
2.125% notes due March 2021 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 2.125% | |
Par Value | $ 750 | 750 |
Unsecured Long-term Debt, Noncurrent | 746 | 745 |
Fair Value | $ 744 | 741 |
3.375% Notes Due November 2021 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.375% | |
Par Value | $ 500 | 500 |
Unsecured Long-term Debt, Noncurrent | 493 | 497 |
Fair Value | $ 516 | 519 |
2.875% Notes Due December 2021 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 2.875% | |
Par Value | $ 750 | 750 |
Unsecured Long-term Debt, Noncurrent | 741 | 748 |
Fair Value | $ 760 | 760 |
2.875% Notes Due March 2022 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 2.875% | |
Par Value | $ 1,100 | 1,100 |
Unsecured Long-term Debt, Noncurrent | 1,054 | 1,057 |
Fair Value | $ 1,114 | 1,114 |
3.350% Notes Due July 2022 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.35% | |
Par Value | $ 1,000 | 1,000 |
Unsecured Long-term Debt, Noncurrent | 996 | 995 |
Fair Value | $ 1,033 | 1,030 |
2.375% notes due October 2022 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 2.375% | |
Par Value | $ 900 | 0 |
Unsecured Long-term Debt, Noncurrent | 893 | 0 |
Fair Value | $ 891 | 0 |
0.000% Notes Due November 2022 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 0.00% | |
Par Value | $ 15 | 15 |
Unsecured Long-term Debt, Noncurrent | 12 | 11 |
Fair Value | $ 12 | 12 |
2.750% Notes Due February 2023 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 2.75% | |
Par Value | $ 625 | 625 |
Unsecured Long-term Debt, Noncurrent | 606 | 609 |
Fair Value | $ 626 | 622 |
2.875% Notes Due March 2023 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 2.875% | |
Par Value | $ 750 | 750 |
Unsecured Long-term Debt, Noncurrent | 762 | 771 |
Fair Value | $ 759 | 753 |
3.750% Notes Due July 2025 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.75% | |
Par Value | $ 2,000 | 2,000 |
Unsecured Long-term Debt, Noncurrent | 1,987 | 1,986 |
Fair Value | $ 2,108 | 2,070 |
3.100% notes due March 2026 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.10% | |
Par Value | $ 1,000 | 1,000 |
Unsecured Long-term Debt, Noncurrent | 995 | 994 |
Fair Value | $ 1,007 | 986 |
3.450% notes due January 2027 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.45% | |
Par Value | $ 750 | 750 |
Unsecured Long-term Debt, Noncurrent | 745 | 745 |
Fair Value | $ 776 | 762 |
3.375% notes due April 2027 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.375% | |
Par Value | $ 625 | 0 |
Unsecured Long-term Debt, Noncurrent | 618 | 0 |
Fair Value | $ 642 | 0 |
2.950% notes due October 2027 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 2.95% | |
Par Value | $ 950 | 0 |
Unsecured Long-term Debt, Noncurrent | 937 | 0 |
Fair Value | $ 947 | 0 |
4.625% Notes Due July 2035 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 4.625% | |
Par Value | $ 1,000 | 1,000 |
Unsecured Long-term Debt, Noncurrent | 991 | 991 |
Fair Value | $ 1,165 | 1,090 |
5.800% Notes Due March 2036 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 5.80% | |
Par Value | $ 850 | 850 |
Unsecured Long-term Debt, Noncurrent | 837 | 837 |
Fair Value | $ 1,105 | 1,034 |
6.500% Notes Due June 2037 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 6.50% | |
Par Value | $ 500 | 500 |
Unsecured Long-term Debt, Noncurrent | 491 | 491 |
Fair Value | $ 698 | 643 |
6.625% Notes Due November 2037 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 6.625% | |
Par Value | $ 650 | 650 |
Unsecured Long-term Debt, Noncurrent | 641 | 640 |
Fair Value | $ 923 | 850 |
6.875% Notes Due Februray 2038 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 6.875% | |
Par Value | $ 1,100 | 1,100 |
Unsecured Long-term Debt, Noncurrent | 1,075 | 1,075 |
Fair Value | $ 1,596 | 1,497 |
5.700% Notes Due October 2040 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 5.70% | |
Par Value | $ 300 | 300 |
Unsecured Long-term Debt, Noncurrent | 296 | 296 |
Fair Value | $ 389 | 366 |
5.950% Notes Due Februrary 2041 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 5.95% | |
Par Value | $ 350 | 350 |
Unsecured Long-term Debt, Noncurrent | 345 | 345 |
Fair Value | $ 466 | 437 |
4.625% Notes Due November 2041 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 4.625% | |
Par Value | $ 600 | 600 |
Unsecured Long-term Debt, Noncurrent | 588 | 588 |
Fair Value | $ 685 | 634 |
4.375% Notes Due March 2042 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 4.375% | |
Par Value | $ 502 | 502 |
Unsecured Long-term Debt, Noncurrent | 483 | 483 |
Fair Value | $ 555 | 509 |
3.950% Notes Due October 2042 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.95% | |
Par Value | $ 625 | 625 |
Unsecured Long-term Debt, Noncurrent | 607 | 606 |
Fair Value | $ 650 | 609 |
4.250% Notes Due March 2043 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 4.25% | |
Par Value | $ 750 | 750 |
Unsecured Long-term Debt, Noncurrent | 734 | 734 |
Fair Value | $ 822 | 765 |
4.750% Notes Due July 2045 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 4.75% | |
Par Value | $ 2,000 | 2,000 |
Unsecured Long-term Debt, Noncurrent | 1,972 | 1,972 |
Fair Value | $ 2,362 | 2,203 |
4.200% notes due January 2047 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 4.20% | |
Par Value | $ 750 | 750 |
Unsecured Long-term Debt, Noncurrent | 738 | 737 |
Fair Value | $ 808 | 759 |
4.250% notes due April 2047 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 4.25% | |
Par Value | $ 725 | 0 |
Unsecured Long-term Debt, Noncurrent | 717 | 0 |
Fair Value | $ 798 | 0 |
3.750% notes due October 2047 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.75% | |
Par Value | $ 950 | 0 |
Unsecured Long-term Debt, Noncurrent | 933 | 0 |
Fair Value | $ 969 | $ 0 |
Commercial Paper and Long-Ter63
Commercial Paper and Long-Term Debt Maturities of commercial paper and long-term debt (Details) $ in Millions | Dec. 31, 2017USD ($) |
Debt Instrument [Line Items] | |
2,018 | $ 2,857 |
2,019 | 1,850 |
2,020 | 3,250 |
2,021 | 2,500 |
2,022 | 3,115 |
Thereafter | $ 18,470 |
Income Taxes (Details)
Income Taxes (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 22, 2017 | |
Income Tax Contingency [Line Items] | ||||
Re-measurement of Income Tax Liabilities due to Tax Reform | $ 1,200 | |||
Operating Loss Carryforwards | $ 235 | |||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | 14 | $ 11 | $ 11 | |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued | 84 | $ 70 | ||
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit | 210 | |||
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | $ 472 | |||
Federal [Member] | ||||
Income Tax Contingency [Line Items] | ||||
Open Tax Year | 2,017 | |||
Federal [Member] | Earliest Tax Year [Member] | ||||
Income Tax Contingency [Line Items] | ||||
Net Operating Loss Carryforwards, Expiration Date | Jan. 1, 2022 | |||
Federal [Member] | Latest Tax Year [Member] | ||||
Income Tax Contingency [Line Items] | ||||
Net Operating Loss Carryforwards, Expiration Date | Dec. 31, 2037 | |||
State [Member] | Earliest Tax Year [Member] | ||||
Income Tax Contingency [Line Items] | ||||
Net Operating Loss Carryforwards, Expiration Date | Jan. 1, 2018 | |||
Open Tax Year | 2,012 | |||
State [Member] | Latest Tax Year [Member] | ||||
Income Tax Contingency [Line Items] | ||||
Net Operating Loss Carryforwards, Expiration Date | Dec. 31, 2037 | |||
Open Tax Year | 2,017 | |||
Non-U.S [Member] | Earliest Tax Year [Member] | ||||
Income Tax Contingency [Line Items] | ||||
Open Tax Year | 2,012 | |||
Non-U.S [Member] | Latest Tax Year [Member] | ||||
Income Tax Contingency [Line Items] | ||||
Open Tax Year | 2,017 |
Income Taxes Reconciliation of
Income Taxes Reconciliation of Provision for Income Taxes (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Current Provision: | |||
Federal | $ 3,597 | $ 4,302 | $ 4,109 |
State and local | 314 | 312 | 281 |
Foreign | 254 | 95 | 46 |
Total current provision | 4,165 | 4,709 | 4,436 |
Deferred (benefit) provision | (965) | 81 | (73) |
Total provision for income taxes | $ 3,200 | $ 4,790 | $ 4,363 |
Income Tax Reconciliation of th
Income Tax Reconciliation of the tax provision at the U.S. Federal Statutory Rate (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Income Tax Contingency [Line Items] | |||
Tax provision at the U.S. federal statutory rate, Amount | $ 4,908 | $ 4,152 | $ 3,581 |
Tax provision at the U.S. federal statutory rate, Percent | 35.00% | 35.00% | 35.00% |
Change in tax law, Amount | $ (1,199) | $ 0 | $ 0 |
Change in tax law, Percent | (8.60%) | 0.00% | 0.00% |
State income taxes, net of federal benefit, Amount | $ 197 | $ 205 | $ 145 |
State income taxes, net of federal benefit, Percent | 1.40% | 1.70% | 1.40% |
Share-based awards - excess tax benefit, Amount | $ (319) | $ (158) | $ 0 |
Share-based awards - excess tax benefit, Percent | (2.30%) | (1.30%) | 0.00% |
Non-deductible compensation, Amount | $ 175 | $ 128 | $ 103 |
Non-deductible compensation, Percent | 1.30% | 1.10% | 1.00% |
Health insurance industry tax, Amount | $ 0 | $ 645 | $ 627 |
Health insurance industry tax, Percent | 0.00% | 5.40% | 6.10% |
Foreign rate differential, Amount | $ (282) | $ (105) | $ (34) |
Foreign rate differential, Percent | (2.00%) | (0.90%) | (0.30%) |
Other, net, Amount | $ (280) | $ (77) | $ (59) |
Other, net, Percent | (2.00%) | (0.60%) | (0.60%) |
Total provision for income taxes | $ 3,200 | $ 4,790 | $ 4,363 |
Provision for income taxes, Percent | 22.80% | 40.40% | 42.60% |
Income Taxes Components of Defe
Income Taxes Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Deferred income tax assets: | ||
Accrued expenses and allowances | $ 544 | $ 820 |
U.S. federal and state net operating loss carryforwards | 216 | 147 |
Share-based compensation | 97 | 126 |
Nondeductible liabilities | 169 | 236 |
Non-U.S. tax loss carryforwards | 445 | 434 |
Other-domestic | 167 | 476 |
Other-non-U.S. | 198 | 175 |
Subtotal | 1,836 | 2,414 |
Less: valuation allowances | (64) | (55) |
Total deferred income tax assets | 1,772 | 2,359 |
Deferred income tax liabilities: | ||
U.S. federal and state intangible assets | (1,998) | (3,055) |
Non-U.S. goodwill and intangible assets | (602) | (584) |
Capitalized software | (530) | (707) |
Depreciation and amortization | (236) | (332) |
Prepaid expenses | (223) | (228) |
Outside basis in partnerships | (279) | (132) |
Other-non-U.S. | (86) | (82) |
Total deferred income tax liabilities | (3,954) | (5,120) |
Net deferred income tax liabilities | $ (2,182) | $ (2,761) |
Income Taxes Reconciliation o68
Income Taxes Reconciliation of the beginning and ending amount of unrecognized tax benefits (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Income Tax Contingency [Line Items] | |||
Gross unrecognized tax benefits, beginning of period | $ 263 | $ 224 | $ 92 |
Current year tax positions | 356 | 37 | 0 |
Prior year tax positions, gross increases | 40 | 24 | 55 |
Acquired reserves | 0 | 0 | 89 |
Prior year tax positions, gross decreases | (33) | (4) | (2) |
Settlements | (24) | (6) | (1) |
Statute of limitations lapses | (4) | (12) | (9) |
Gross unrecognized tax benefits, end of period | $ 598 | $ 263 | $ 224 |
Shareholders' Equity (Details)
Shareholders' Equity (Details) - USD ($) shares in Millions, $ in Millions | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Shareholders' Equity Disclosure [Line Items] | ||||
Cash Dividends Paid to Parent Company by Consolidated Subsidiaries | $ 3,700 | $ 3,900 | ||
Cash and cash equivalents | 11,981 | 10,430 | $ 10,923 | $ 7,495 |
Statutory Accounting Practices, Statutory Capital and Surplus, Balance | 20,700 | |||
Statutory Accounting Practices, Statutory Capital and Surplus Required | $ 12,200 | |||
Stock Repurchase Program, Number of Shares Authorized to be Repurchased | 100 | |||
Extraordinary Dividends [Member] | ||||
Shareholders' Equity Disclosure [Line Items] | ||||
Cash Dividends Paid to Parent Company by Consolidated Subsidiaries | $ 1,100 | $ 3,300 |
Shareholders' Equity Share Repu
Shareholders' Equity Share Repurchases (Details) - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Statement of Stockholders' Equity [Abstract] | |||
Common shares repurchases, shares | 9,000,000 | 10,000,000 | |
Common share repurchases, average price per share | $ 173.54 | $ 128.97 | |
Common share repurchases, aggregate cost | $ 1,500 | $ 1,280 | $ 1,200 |
Board authorized shares remaining | 42,000,000 | 51,000,000 |
Share-Based Compensation Narrat
Share-Based Compensation Narrative (Details) - USD ($) shares in Millions, $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 51 | |
Deferred Compensation, Recorded Liability | $ 865 | $ 672 |
Employee Stock Purchase Plan (ESPP) [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 9 |
Share-Based Compensation (Stock
Share-Based Compensation (Stock Option and SAR Activity) (Details) $ / shares in Units, shares in Millions, $ in Millions | 12 Months Ended |
Dec. 31, 2017USD ($)$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | |
Outstanding at the beginning of the period | shares | 36 |
Granted, Shares | shares | 15 |
Exercised, Shares | shares | (12) |
Forfeitures, Shares | shares | (2) |
Outstanding at the end of the period | shares | 37 |
Exercisable at end of period, Shares | shares | 16 |
Vested and expected to vest end of period, Shares | shares | 36 |
Outstanding at beginning of period, Weighted-Average Exercise Price | $ / shares | $ 84 |
Granted, Weighted-Average Exercise Price | $ / shares | 111 |
Exercised, Weighted-Average Exercise Price | $ / shares | 55 |
Forfeitures, Weighted Average Exercise Price | $ / shares | 125 |
Outstanding at end of period, Weighted-Average Exercise Price | $ / shares | 102 |
Exercisable at end of period, Weighted-Average Exercise Price | $ / shares | 67 |
Vested and expected to vest end of period, Weighted-Average Exercise Price | $ / shares | $ 101 |
Outstanding at end of period, Weighted Average Remaining Contractual Term (in years) | 6 years 7 months 6 days |
Exercisable at end of period, Weighted Average Remaining Contractual Term (in years) | 4 years 9 months 18 days |
Vested and expected to vest end of period, Weighted Average Remaining Contractual Term (in years) | 6 years 7 months 6 days |
Outstanding at end of period, Aggregate Intrinsic Value | $ | $ 4,443 |
Exercisable at end of period, Aggregate Intrinsic Value | $ | 2,412 |
Vested and expected to vest end of period, Aggregate Intrinsic Value | $ | $ 4,363 |
Share-Based Compensation (Restr
Share-Based Compensation (Restricted Share Activity) (Details) - Restricted Stock [Member] shares in Millions | 12 Months Ended |
Dec. 31, 2017$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |
Nonvested at beginning of period, Shares | shares | 7 |
Granted, Shares | shares | 3 |
Vested | shares | (3) |
Nonvested at end of period, Shares | shares | 7 |
Nonvested at beginning of period, Weighted-Average Grant Date Fair Value per Share | $ / shares | $ 96 |
Weighted-average grant date fair value per share | $ / shares | 163 |
Vested, Weighted Average Grant Date Fair Value per share | $ / shares | 84 |
Nonvested at end of period, Weighted-Average Grant Date Fair Value per Share | $ / shares | $ 128 |
Share-Based Compensation Other
Share-Based Compensation Other Share-Based Compensation Data (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based compensation expense, before tax | $ 597 | $ 485 | $ 406 |
Share-based compensation expense, net of tax effects | 531 | 417 | 348 |
Income tax benefit realized from share-based award exercises | 431 | $ 236 | $ 247 |
Unrecognized compensation expense related to share awards | $ 593 | ||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year 3 months 18 days | ||
Stock Options and SARs [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Weighted-average grant date fair value of shares granted, per share | $ 29 | $ 20 | $ 22 |
Total intrinsic value of stock options and SARs exercised | $ 1,473 | $ 595 | $ 482 |
Restricted Stock Units (RSUs) [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Weighted-average grant date fair value per share | $ 163 | $ 115 | $ 110 |
Total fair value of restricted shares vested | $ 460 | $ 274 | $ 460 |
Employee Stock Purchase Plan (ESPP) [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of shares purchased | 2 | 2 | 2 |
Share-Based Compensation (Share
Share-Based Compensation (Share-Based Compensation Principal Fair Value Assumptions) (Details) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Expected dividend yield | 1.80% | ||
Forfeiture rate | 5.00% | 5.00% | 5.00% |
Expected Life in years | 5 years 8 months 12 days | ||
Minimum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Risk-free interest rate | 1.90% | 1.20% | 1.60% |
Expected Volatility | 18.50% | 20.80% | 22.30% |
Expected dividend yield | 1.40% | 1.40% | |
Expected Life in years | 5 years 7 months 9 days | 5 years 6 months | |
Maximum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Risk-free interest rate | 2.10% | 1.40% | 1.70% |
Expected Volatility | 20.70% | 22.50% | 24.10% |
Expected dividend yield | 1.60% | 1.70% | |
Expected Life in years | 5 years 10 months 29 days | 6 years 1 month 6 days |
Commitments and Contingencies76
Commitments and Contingencies (Details) - USD ($) $ in Millions | 1 Months Ended | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Loss Contingencies [Line Items] | ||||
Undrawn Letters Of Credit | $ 72 | $ 72 | ||
Operating Leases, Rent Expense | 710 | $ 608 | $ 555 | |
Surety Bonds Outstanding | 1,400 | $ 1,400 | ||
Payments to be made to Acquire Businesses, Gross | $ 7,700 |
Commitments and Contingencies F
Commitments and Contingencies Future Lease Payments (Details) $ in Millions | Dec. 31, 2017USD ($) |
Operating Leased Assets [Line Items] | |
2,017 | $ 538 |
2,018 | 470 |
2,019 | 414 |
2,020 | 350 |
2,021 | 501 |
Thereafter | $ 809 |
Segment Financial Information78
Segment Financial Information (Narrative) (Details) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Statement [Line Items] | |||
Number of Reportable Segments | 4 | ||
UNITED STATES | |||
Statement [Line Items] | |||
Disclosure on Geographic Areas Percentage of Revenue from External Customers | 96.00% | 97.00% | 96.00% |
Disclosure on Geographic Areas Percentage of Long Lived Assets | 77.00% | 75.00% | |
Revenues [Member] | CMS Subsidies [Member] | |||
Statement [Line Items] | |||
Concentration Risk, Percentage | 28.00% | 25.00% | 26.00% |
Segment Financial Information79
Segment Financial Information (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Statement [Line Items] | |||
Premiums, revenues - external customers | $ 158,453 | $ 144,118 | $ 127,163 |
Products, revenues - external customers | 26,366 | 26,658 | 17,312 |
Services, revenues - external customers | 15,317 | 13,236 | 11,922 |
Investment and other income | 1,023 | 828 | 710 |
Total revenues | 201,159 | 184,840 | 157,107 |
Earnings from operations | 15,209 | 12,930 | 11,021 |
Interest expense | (1,186) | (1,067) | (790) |
Earnings before income taxes | 14,023 | 11,863 | 10,231 |
Total assets | 139,058 | 122,810 | 111,254 |
Purchases of property, equipment and capitalized software | 2,023 | 1,705 | 1,556 |
Depreciation and amortization | 2,245 | 2,055 | 1,693 |
Optum [Member] | |||
Statement [Line Items] | |||
Investment and other income | 365 | 217 | 156 |
Total revenues | 91,185 | 83,593 | 67,604 |
Earnings from operations | 6,711 | 5,623 | 4,267 |
Interest expense | 0 | 0 | 0 |
Earnings before income taxes | 6,711 | 5,623 | 4,267 |
Total assets | 67,755 | 56,739 | 49,779 |
Purchases of property, equipment and capitalized software | 1,286 | 1,065 | 903 |
Depreciation and amortization | 1,487 | 1,331 | 975 |
External Customers [Member] | |||
Statement [Line Items] | |||
Premiums, revenues - external customers | 158,453 | 144,118 | 127,163 |
Products, revenues - external customers | 26,366 | 26,658 | 17,312 |
Services, revenues - external customers | 15,317 | 13,236 | 11,922 |
Total revenues | 200,136 | 184,012 | 156,397 |
External Customers [Member] | Optum [Member] | |||
Statement [Line Items] | |||
Premiums, revenues - external customers | 3,744 | 3,663 | 3,152 |
Products, revenues - external customers | 26,366 | 26,657 | 17,310 |
Services, revenues - external customers | 7,427 | 5,722 | 5,146 |
Total revenues | 37,537 | 36,042 | 25,608 |
Intersegment [Member] | |||
Statement [Line Items] | |||
Total revenues | 0 | 0 | 0 |
Intersegment [Member] | Optum [Member] | |||
Statement [Line Items] | |||
Total revenues | 53,283 | 47,334 | 41,840 |
Operating Segments [Member] | UnitedHealthcare [Member] | |||
Statement [Line Items] | |||
Investment and other income | 658 | 611 | 554 |
Total revenues | 163,257 | 148,581 | 131,343 |
Earnings from operations | 8,498 | 7,307 | 6,754 |
Interest expense | 0 | 0 | 0 |
Earnings before income taxes | 8,498 | 7,307 | 6,754 |
Total assets | 76,676 | 70,505 | 64,212 |
Purchases of property, equipment and capitalized software | 737 | 640 | 653 |
Depreciation and amortization | 758 | 724 | 718 |
Operating Segments [Member] | OptumHealth [Member] | |||
Statement [Line Items] | |||
Investment and other income | 340 | 208 | 153 |
Total revenues | 20,570 | 16,908 | 13,927 |
Earnings from operations | 1,823 | 1,428 | 1,240 |
Interest expense | 0 | 0 | 0 |
Earnings before income taxes | 1,823 | 1,428 | 1,240 |
Total assets | 26,931 | 18,656 | 14,600 |
Purchases of property, equipment and capitalized software | 510 | 345 | 252 |
Depreciation and amortization | 380 | 297 | 251 |
Operating Segments [Member] | OptumInsight [Member] | |||
Statement [Line Items] | |||
Investment and other income | 5 | 1 | 1 |
Total revenues | 8,087 | 7,333 | 6,196 |
Earnings from operations | 1,770 | 1,513 | 1,278 |
Interest expense | 0 | 0 | 0 |
Earnings before income taxes | 1,770 | 1,513 | 1,278 |
Total assets | 11,273 | 9,017 | 8,335 |
Purchases of property, equipment and capitalized software | 588 | 571 | 572 |
Depreciation and amortization | 614 | 559 | 492 |
Operating Segments [Member] | OptumRx [Member] | |||
Statement [Line Items] | |||
Investment and other income | 20 | 8 | 2 |
Total revenues | 63,755 | 60,440 | 48,272 |
Earnings from operations | 3,118 | 2,682 | 1,749 |
Interest expense | 0 | 0 | 0 |
Earnings before income taxes | 3,118 | 2,682 | 1,749 |
Total assets | 29,551 | 29,066 | 26,844 |
Purchases of property, equipment and capitalized software | 188 | 149 | 79 |
Depreciation and amortization | 493 | 475 | 232 |
Operating Segments [Member] | External Customers [Member] | UnitedHealthcare [Member] | |||
Statement [Line Items] | |||
Premiums, revenues - external customers | 154,709 | 140,455 | 124,011 |
Products, revenues - external customers | 0 | 1 | 2 |
Services, revenues - external customers | 7,890 | 7,514 | 6,776 |
Total revenues | 162,599 | 147,970 | 130,789 |
Operating Segments [Member] | External Customers [Member] | OptumHealth [Member] | |||
Statement [Line Items] | |||
Premiums, revenues - external customers | 3,744 | 3,663 | 3,152 |
Products, revenues - external customers | 44 | 48 | 31 |
Services, revenues - external customers | 4,013 | 2,498 | 2,375 |
Total revenues | 7,801 | 6,209 | 5,558 |
Operating Segments [Member] | External Customers [Member] | OptumInsight [Member] | |||
Statement [Line Items] | |||
Premiums, revenues - external customers | 0 | 0 | 0 |
Products, revenues - external customers | 106 | 103 | 108 |
Services, revenues - external customers | 2,849 | 2,670 | 2,390 |
Total revenues | 2,955 | 2,773 | 2,498 |
Operating Segments [Member] | External Customers [Member] | OptumRx [Member] | |||
Statement [Line Items] | |||
Premiums, revenues - external customers | 0 | 0 | 0 |
Products, revenues - external customers | 26,216 | 26,506 | 17,171 |
Services, revenues - external customers | 565 | 554 | 381 |
Total revenues | 26,781 | 27,060 | 17,552 |
Operating Segments [Member] | Intersegment [Member] | UnitedHealthcare [Member] | |||
Statement [Line Items] | |||
Total revenues | 0 | 0 | 0 |
Operating Segments [Member] | Intersegment [Member] | OptumHealth [Member] | |||
Statement [Line Items] | |||
Total revenues | 12,429 | 10,491 | 8,216 |
Operating Segments [Member] | Intersegment [Member] | OptumInsight [Member] | |||
Statement [Line Items] | |||
Total revenues | 5,127 | 4,559 | 3,697 |
Operating Segments [Member] | Intersegment [Member] | OptumRx [Member] | |||
Statement [Line Items] | |||
Total revenues | 36,954 | 33,372 | 30,718 |
Optum Eliminations [Member] | |||
Statement [Line Items] | |||
Investment and other income | 0 | 0 | 0 |
Total revenues | (1,227) | (1,088) | (791) |
Earnings from operations | 0 | 0 | 0 |
Interest expense | 0 | 0 | 0 |
Earnings before income taxes | 0 | 0 | 0 |
Total assets | 0 | 0 | 0 |
Purchases of property, equipment and capitalized software | 0 | 0 | 0 |
Depreciation and amortization | 0 | 0 | 0 |
Optum Eliminations [Member] | External Customers [Member] | |||
Statement [Line Items] | |||
Premiums, revenues - external customers | 0 | 0 | 0 |
Products, revenues - external customers | 0 | 0 | 0 |
Services, revenues - external customers | 0 | 0 | 0 |
Total revenues | 0 | 0 | 0 |
Optum Eliminations [Member] | Intersegment [Member] | |||
Statement [Line Items] | |||
Total revenues | (1,227) | (1,088) | (791) |
Corporate and Eliminations [Member] | |||
Statement [Line Items] | |||
Investment and other income | 0 | 0 | 0 |
Total revenues | (53,283) | (47,334) | (41,840) |
Earnings from operations | 0 | 0 | 0 |
Interest expense | (1,186) | (1,067) | (790) |
Earnings before income taxes | (1,186) | (1,067) | (790) |
Total assets | (5,373) | (4,434) | (2,737) |
Purchases of property, equipment and capitalized software | 0 | 0 | 0 |
Depreciation and amortization | 0 | 0 | 0 |
Corporate and Eliminations [Member] | External Customers [Member] | |||
Statement [Line Items] | |||
Premiums, revenues - external customers | 0 | 0 | 0 |
Products, revenues - external customers | 0 | 0 | 0 |
Services, revenues - external customers | 0 | 0 | 0 |
Total revenues | 0 | 0 | 0 |
Corporate and Eliminations [Member] | Intersegment [Member] | |||
Statement [Line Items] | |||
Total revenues | $ (53,283) | $ (47,334) | $ (41,840) |
Quarterly Financial Data (Una80
Quarterly Financial Data (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Revenues | $ 201,159 | $ 184,840 | $ 157,107 | ||||||||
Operating costs | 185,950 | 171,910 | 146,086 | ||||||||
Earnings from operations | 15,209 | 12,930 | 11,021 | ||||||||
Net earnings | 10,823 | 7,073 | 5,868 | ||||||||
Net earnings attributable to UnitedHealth Group common shareholders | $ 10,558 | $ 7,017 | $ 5,813 | ||||||||
Net earnings per share attributable to UnitedHealth Group common stockholders: | |||||||||||
Basic | $ 10.95 | $ 7.37 | $ 6.10 | ||||||||
Diluted | $ 10.72 | $ 7.25 | $ 6.01 | ||||||||
Quarterly Financial Data (Unaudited) [Member] | |||||||||||
Revenues | $ 52,061 | $ 50,322 | $ 50,053 | $ 48,723 | $ 47,535 | $ 46,293 | $ 46,485 | $ 44,527 | |||
Operating costs | 48,084 | 46,234 | 46,322 | 45,310 | 44,348 | 42,713 | 43,282 | 41,567 | |||
Earnings from operations | 3,977 | 4,088 | 3,731 | 3,413 | 3,187 | 3,580 | 3,203 | 2,960 | |||
Net earnings | 3,721 | 2,561 | 2,350 | 2,191 | 1,708 | 1,978 | 1,760 | 1,627 | |||
Net earnings attributable to UnitedHealth Group common shareholders | $ 3,617 | $ 2,485 | $ 2,284 | $ 2,172 | $ 1,684 | $ 1,968 | $ 1,754 | $ 1,611 | |||
Net earnings per share attributable to UnitedHealth Group common stockholders: | |||||||||||
Basic | $ 3.73 | $ 2.57 | $ 2.37 | $ 2.28 | $ 1.77 | $ 2.07 | $ 1.84 | $ 1.69 | |||
Diluted | $ 3.65 | $ 2.51 | $ 2.32 | $ 2.23 | $ 1.74 | $ 2.03 | $ 1.81 | $ 1.67 |
Schedule I (Details)
Schedule I (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Condensed Financial Statements, Captions [Line Items] | |||
Cash Dividends Paid to Parent Company by Consolidated Subsidiaries | $ 3,700 | $ 3,900 | |
Parent Company [Member] | |||
Condensed Financial Statements, Captions [Line Items] | |||
Cash Dividends Paid to Parent Company by Consolidated Subsidiaries | 3,400 | 3,700 | $ 4,800 |
Return of capital to parent company | 3,375 | 2,143 | $ 4,375 |
Subsidiaries [Member] | |||
Condensed Financial Statements, Captions [Line Items] | |||
Other Long-term Debt | $ 625 | $ 200 |
Schedule I Condensed Balance Sh
Schedule I Condensed Balance Sheets (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Current assets: | ||||
Cash and cash equivalents | $ 11,981 | $ 10,430 | $ 10,923 | $ 7,495 |
Total current assets | 37,084 | 33,879 | ||
Other assets | 3,575 | 3,037 | ||
Total assets | 139,058 | 122,810 | 111,254 | |
Current liabilities: | ||||
Accounts payable and accrued liabilities | 15,180 | 13,361 | ||
Commercial paper and current maturities of long-term debt | 2,857 | 7,193 | ||
Total current liabilities | 50,463 | 49,252 | ||
Long-term debt, less current maturities | 28,835 | 25,777 | ||
Long-term notes payable to subsidiaries | 1,518 | 0 | ||
Other liabilities | 5,556 | 4,831 | ||
Total liabilities | 87,036 | 82,621 | ||
Commitments and contingencies (Note 4) | ||||
Shareholders’ 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; 969 and 952 issued and outstanding | 10 | 10 | ||
Additional paid-in capital | 1,703 | 0 | ||
Retained earnings | 48,730 | 40,945 | ||
Accumulated other comprehensive loss | (2,667) | (2,681) | ||
Total liabilities and shareholders’ equity | 139,058 | 122,810 | ||
Parent Company [Member] | ||||
Current assets: | ||||
Cash and cash equivalents | 359 | 180 | $ 29 | $ 559 |
Short-term notes receivable from subsidiaries | 0 | 755 | ||
Other current assets | 575 | 140 | ||
Total current assets | 934 | 1,075 | ||
Equity in net assets of subsidiaries | 76,231 | 60,593 | ||
Long-term notes receivable from subsidiaries | 4,278 | 9,912 | ||
Other assets | 839 | 248 | ||
Total assets | 82,282 | 71,828 | ||
Current liabilities: | ||||
Accounts payable and accrued liabilities | 502 | 452 | ||
Current portion of notes payable to subsidiaries | 466 | 280 | ||
Commercial paper and current maturities of long-term debt | 2,749 | 7,113 | ||
Total current liabilities | 3,717 | 7,845 | ||
Long-term debt, less current maturities | 28,318 | 25,657 | ||
Other liabilities | 953 | 52 | ||
Total liabilities | 34,506 | 33,554 | ||
Shareholders’ 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; 969 and 952 issued and outstanding | 10 | 10 | ||
Additional paid-in capital | 1,703 | 0 | ||
Retained earnings | 48,730 | 40,945 | ||
Accumulated other comprehensive loss | (2,667) | (2,681) | ||
Total UnitedHealth Group shareholders’ equity | 47,776 | 38,274 | ||
Total liabilities and shareholders’ equity | $ 82,282 | $ 71,828 |
Schedule I Balance Sheet Docume
Schedule I Balance Sheet Document (Details) - $ / shares shares in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Common stock, par value | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 3,000 | 3,000 |
Common stock, shares issued | 969 | 952 |
Common Stock, shares outstanding | 969 | 952 |
Preferred stock, par value | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 10 | 10 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Parent Company [Member] | ||
Common stock, par value | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 3,000 | 3,000 |
Common stock, shares issued | 969 | 952 |
Common Stock, shares outstanding | 969 | 952 |
Preferred stock, par value | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 10 | 10 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Schedule I Condensed Statement
Schedule I Condensed Statement of Comprehensive Income (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Revenues: | |||
Investment and other income | $ 1,023 | $ 828 | $ 710 |
Total revenues | 201,159 | 184,840 | 157,107 |
Operating costs: | |||
Interest expense | 1,186 | 1,067 | 790 |
Total operating costs | 185,950 | 171,910 | 146,086 |
Loss before income taxes | 14,023 | 11,863 | 10,231 |
Benefit for income taxes | 3,200 | 4,790 | 4,363 |
Net earnings | 10,558 | 7,017 | 5,813 |
Other comprehensive income (loss) | 14 | 653 | (1,942) |
Comprehensive income | 10,572 | 7,670 | 3,871 |
Parent Company [Member] | |||
Revenues: | |||
Investment and other income | 527 | 522 | 396 |
Total revenues | 527 | 522 | 396 |
Operating costs: | |||
Operating costs | 0 | (22) | (17) |
Interest expense | 1,114 | 995 | 717 |
Total operating costs | 1,114 | 973 | 700 |
Loss before income taxes | (587) | (451) | (304) |
Benefit for income taxes | 214 | 165 | 111 |
Loss of parent company | (373) | (286) | (193) |
Equity in undistributed income of subsidiaries | 10,931 | 7,303 | 6,006 |
Net earnings | 10,558 | 7,017 | 5,813 |
Other comprehensive income (loss) | 14 | 653 | (1,942) |
Comprehensive income | $ 10,572 | $ 7,670 | $ 3,871 |
Schedule I Statement of Cash Fl
Schedule I Statement of Cash Flows (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Operating activities | |||
Cash flows from operating activities | $ 13,596 | $ 9,795 | $ 9,740 |
Investing activities | |||
Cash paid for acquisitions | (2,131) | (1,760) | (16,164) |
Other, net | 126 | (37) | 144 |
Cash flows from (used for) investing activities | (8,599) | (9,355) | (18,395) |
Financing activities | |||
Common stock repurchases | (1,500) | (1,280) | (1,200) |
Proceeds from common stock issuances | 688 | 429 | 402 |
(Repayments of) proceeds from commercial paper, net | (3,508) | (382) | 3,666 |
Proceeds from issuance of long-term debt | 5,291 | 3,968 | 11,982 |
Repayments of long-term debt | (4,398) | (2,596) | (1,041) |
Other, net | (413) | (581) | (552) |
Cash flows (used for) from financing activities | (3,441) | (1,011) | 12,239 |
Increase (decrease) in cash and cash equivalents | 1,551 | (493) | 3,428 |
Cash and cash equivalents, beginning of period | 10,430 | 10,923 | 7,495 |
Cash and cash equivalents, end of period | 11,981 | 10,430 | 10,923 |
Supplemental cash flow disclosures | |||
Cash paid for interest | 1,133 | 1,055 | 639 |
Cash paid for income taxes | 4,004 | 4,726 | 4,401 |
Supplemental schedule of non-cash investing activities | |||
Common stock issued for acquisitions | 2,164 | 0 | 0 |
Parent Company [Member] | |||
Operating activities | |||
Cash flows from operating activities | 2,021 | 4,294 | 1,727 |
Investing activities | |||
Repayments (issuances) of notes to subsidiaries | (2,071) | 824 | 5,064 |
Cash paid for acquisitions | (2,313) | (2,292) | (12,270) |
Return of capital to parent company | 3,375 | 2,143 | 4,375 |
Capital contributions to subsidiaries | (959) | (765) | (1,109) |
Other, net | 0 | 168 | 140 |
Cash flows from (used for) investing activities | 2,174 | (1,570) | (13,928) |
Financing activities | |||
Common stock repurchases | (1,500) | (1,280) | (1,200) |
Proceeds from common stock issuances | 688 | 429 | 402 |
Cash dividends paid | (2,773) | (2,261) | (1,786) |
(Repayments of) proceeds from commercial paper, net | (3,508) | (382) | 3,666 |
Proceeds from issuance of long-term debt | 5,291 | 3,968 | 11,982 |
Repayments of long-term debt | (3,472) | (2,596) | (1,041) |
Proceeds from (Repayments of) Related Party Debt | 1,704 | (30) | 95 |
Other, net | (446) | (421) | (447) |
Cash flows (used for) from financing activities | (4,016) | (2,573) | 11,671 |
Increase (decrease) in cash and cash equivalents | 179 | 151 | (530) |
Cash and cash equivalents, beginning of period | 180 | 29 | 559 |
Cash and cash equivalents, end of period | 359 | 180 | 29 |
Supplemental cash flow disclosures | |||
Cash paid for interest | 1,062 | 974 | 573 |
Cash paid for income taxes | 3,455 | 4,557 | 4,294 |
Supplemental schedule of non-cash investing activities | |||
Common stock issued for acquisitions | 2,164 | 0 | 0 |
Conversion of note receivable from subsidiaries to equity | $ 4,378 | $ 0 | $ 0 |
Schedule I Maturities of Commer
Schedule I Maturities of Commercial Paper and Long-Term Debt (Details) $ in Millions | Dec. 31, 2017USD ($) |
Debt Instrument [Line Items] | |
2,018 | $ 2,857 |
2,019 | 1,850 |
2,020 | 3,250 |
2,021 | 2,500 |
2,022 | 3,115 |
Thereafter | 18,470 |
Parent Company [Member] | |
Debt Instrument [Line Items] | |
2,018 | 2,750 |
2,019 | 1,750 |
2,020 | 3,150 |
2,021 | 2,400 |
2,022 | 3,015 |
Thereafter | $ 18,352 |