Document and Entity Information
Document and Entity Information Document - shares | 9 Months Ended | |
Sep. 30, 2020 | Oct. 30, 2020 | |
Document and Entity Information [Abstract] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2020 | |
Document Transition Report | false | |
Entity File Number | 1-10864 | |
Entitiy Registrant Name | UnitedHealth Group Incorporated | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 41-1321939 | |
Entity Address, Address Line One | UnitedHealth Group Center | |
Entity Address, Address Line Two | 9900 Bren Road East | |
Entity Address, City or Town | Minnetonka, | |
Entity Address, State or Province | MN | |
Entity Address, Postal Zip Code | 55343 | |
City Area Code | 952 | |
Local Phone Number | 936-1300 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Title of 12(b) Security | Common Stock, $.01 par value | |
Trading Symbol | UNH | |
Security Exchange Name | NYSE | |
Entitiy Central Index Key | 0000731766 | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Year Focus | 2020 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false | |
Entity Common Stock, Shares Outstanding | 948,820,710 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Millions | Sep. 30, 2020 | Dec. 31, 2019 |
Current assets: | ||
Cash and cash equivalents | $ 17,550 | $ 10,985 |
Short-term investments | 3,259 | 3,260 |
Accounts receivable, net | 12,171 | 11,822 |
Other current receivables, net | 13,231 | 9,640 |
Assets under management | 3,788 | 3,076 |
Prepaid expenses and other current assets | 4,822 | 3,851 |
Total current assets | 54,821 | 42,634 |
Long-term investments | 39,184 | 37,209 |
Property, equipment and capitalized software, net | 8,151 | 8,704 |
Goodwill | 68,088 | 65,659 |
Other intangible assets, net | 10,373 | 10,349 |
Other assets | 10,352 | 9,334 |
Total assets | 190,969 | 173,889 |
Current liabilities: | ||
Medical costs payable | 21,167 | 21,690 |
Accounts payable and accrued liabilities | 21,173 | 19,005 |
Short-term borrowings and current maturities of long-term debt | 3,899 | 3,870 |
Unearned revenues | 2,391 | 2,622 |
Other current liabilities | 17,967 | 14,595 |
Total current liabilities | 66,597 | 61,782 |
Long-term debt, less current maturities | 39,895 | 36,808 |
Deferred income taxes | 3,340 | 2,993 |
Other liabilities | 11,186 | 10,144 |
Total liabilities | 121,018 | 111,727 |
Commitments and contingencies (Note 7) | ||
Redeemable noncontrolling interests | 1,847 | 1,726 |
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; 949 and 948 issued and outstanding | 10 | 9 |
Additional Paid in Capital | 0 | 7 |
Retained earnings | 69,715 | 61,178 |
Accumulated other comprehensive loss | (4,494) | (3,578) |
Nonredeemable noncontrolling interests | 2,873 | 2,820 |
Total equity | 68,104 | 60,436 |
Total liabilities, redeemable noncontrolling interests and equity | $ 190,969 | $ 173,889 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheet (Parenthetical) - $ / shares shares in Millions | Sep. 30, 2020 | Dec. 31, 2019 |
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 |
Common stock, par value | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 3,000 | 3,000 |
Common stock, shares issued | 949 | 948 |
Common stock, shares outstanding | 949 | 948 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Revenues: | ||||
Premiums | $ 50,863 | $ 47,397 | $ 150,897 | $ 142,074 |
Products | 8,777 | 7,546 | 25,455 | 23,971 |
Services | 5,124 | 4,942 | 14,265 | 13,756 |
Investment and other income | 351 | 466 | 1,057 | 1,453 |
Total revenues | 65,115 | 60,351 | 191,674 | 181,254 |
Operating costs: | ||||
Medical costs | 41,636 | 39,041 | 117,314 | 117,164 |
Operating costs | 10,174 | 8,960 | 30,190 | 25,892 |
Cost of products sold | 7,935 | 6,627 | 23,123 | 21,606 |
Depreciation and amortization | 719 | 709 | 2,159 | 2,002 |
Total operating costs | 60,464 | 55,337 | 172,786 | 166,664 |
Earnings from operations | 4,651 | 5,014 | 18,888 | 14,590 |
Interest expense | (395) | (449) | (1,262) | (1,267) |
Earnings before income taxes | 4,256 | 4,565 | 17,626 | 13,323 |
Provision for income taxes | (1,000) | (936) | (4,209) | (2,752) |
Net earnings | 3,256 | 3,629 | 13,417 | 10,571 |
Earnings attributable to noncontrolling interests | (84) | (91) | (226) | (273) |
Net earnings attributable to UnitedHealth Group common shareholders | $ 3,172 | $ 3,538 | $ 13,191 | $ 10,298 |
Earnings per share attributable to UnitedHealth Group common shareholders: | ||||
Basic | $ 3.34 | $ 3.73 | $ 13.90 | $ 10.82 |
Diluted | $ 3.30 | $ 3.67 | $ 13.73 | $ 10.65 |
Basic weighted-average number of common shares outstanding | 950 | 949 | 949 | 952 |
Dilutive effect of common share equivalents | 12 | 14 | 12 | 15 |
Diluted weighted-average number of common shares outstanding | 962 | 963 | 961 | 967 |
Anti-dilutive shares excluded from the calculation of dilutive effect of common share equivalents | 6 | 12 | 9 | 10 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Net earnings | $ 3,256 | $ 3,629 | $ 13,417 | $ 10,571 |
Other comprehensive income (loss): | ||||
Gross unrealized gains on investment securities during the period | 148 | 230 | 919 | 1,243 |
Income tax effect | (37) | (53) | (214) | (285) |
Total unrealized gains, net of tax | 111 | 177 | 705 | 958 |
Gross reclassification adjustment for net realized gains included in net earnings | (21) | (69) | (50) | (70) |
Income tax effect | 5 | 16 | 12 | 16 |
Total reclassification adjustment, net of tax | (16) | (53) | (38) | (54) |
Total foreign currency translation losses | (39) | (560) | (1,583) | (453) |
Other comprehensive income (loss) | 56 | (436) | (916) | 451 |
Comprehensive income | 3,312 | 3,193 | 12,501 | 11,022 |
Comprehensive income attributable to noncontrolling interests | (84) | (91) | (226) | (273) |
Comprehensive income attributable to UnitedHealth Group common shareholders | $ 3,228 | $ 3,102 | $ 12,275 | $ 10,749 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Changes in Equity - USD ($) shares in Millions, $ in Millions | Total | Common Stock [Member] | Additional Paid-In Capital [Member] | Retained Earnings [Member] | Net Unrealized (Losses) Gains on Investments [Member] | Foreign Currency Translation [Member] | Nonredeemable Noncontrolling Interests [Member] |
Balance at Dec. 31, 2018 | $ 54,319 | $ 10 | $ 0 | $ 55,846 | $ (264) | $ (3,896) | $ 2,623 |
Balance (Adjustment to adopt ASU 2016-02) at Dec. 31, 2018 | (18) | (13) | (5) | ||||
Balance (in shares) at Dec. 31, 2018 | 960 | ||||||
Net earnings attributable to UnitedHealth Group common shareholders | 10,298 | 10,298 | |||||
Net earnings attributable to nonredeemable noncontrolling interest | 196 | ||||||
Net Earnings, Including Portion Attributable to Nonredeemable Noncontrolling Interest | 10,494 | ||||||
Other comprehensive income (loss) | 451 | 904 | (453) | ||||
Issuances of common stock, and related tax effects (in shares) | 8 | ||||||
Issuances of common stock, and related tax effects | 438 | $ 0 | 438 | ||||
Share-based compensation | 521 | 521 | |||||
Common share repurchases (in shares) | (21) | ||||||
Common share repurchases | (5,101) | $ (1) | (573) | (4,527) | |||
Cash dividends paid on common shares | (2,908) | (2,908) | |||||
Redeemable noncontrolling interests fair value and other adjustments | (277) | (277) | |||||
Acquisition and other adjustments of nonredeemable noncontrolling interests | 48 | (109) | 157 | ||||
Distribution to nonredeemable noncontrolling interests | (211) | (211) | |||||
Balance at Sep. 30, 2019 | 57,756 | $ 9 | 0 | 58,696 | 640 | (4,349) | 2,760 |
Balance (in shares) at Sep. 30, 2019 | 947 | ||||||
Balance at Jun. 30, 2019 | 55,854 | $ 9 | 0 | 56,367 | 516 | (3,789) | 2,751 |
Balance (in shares) at Jun. 30, 2019 | 948 | ||||||
Net earnings attributable to UnitedHealth Group common shareholders | 3,538 | 3,538 | |||||
Net earnings attributable to nonredeemable noncontrolling interest | 82 | ||||||
Net Earnings, Including Portion Attributable to Nonredeemable Noncontrolling Interest | 3,620 | ||||||
Other comprehensive income (loss) | (436) | 124 | (560) | ||||
Issuances of common stock, and related tax effects (in shares) | 2 | ||||||
Issuances of common stock, and related tax effects | 277 | $ 0 | 277 | ||||
Share-based compensation | 130 | 130 | |||||
Common share repurchases (in shares) | (3) | ||||||
Common share repurchases | (600) | $ 0 | (415) | (185) | |||
Cash dividends paid on common shares | (1,024) | (1,024) | |||||
Redeemable noncontrolling interests fair value and other adjustments | 8 | 8 | |||||
Acquisition and other adjustments of nonredeemable noncontrolling interests | (7) | (7) | |||||
Distribution to nonredeemable noncontrolling interests | (66) | (66) | |||||
Balance at Sep. 30, 2019 | 57,756 | $ 9 | 0 | 58,696 | 640 | (4,349) | 2,760 |
Balance (in shares) at Sep. 30, 2019 | 947 | ||||||
Balance at Dec. 31, 2019 | 60,436 | $ 9 | 7 | 61,178 | 589 | (4,167) | 2,820 |
Balance (Adjustment to Adopt ASU 2016-13) at Dec. 31, 2019 | $ (28) | (28) | |||||
Balance (in shares) at Dec. 31, 2019 | 948 | 948 | |||||
Net earnings attributable to UnitedHealth Group common shareholders | $ 13,191 | 13,191 | |||||
Net earnings attributable to nonredeemable noncontrolling interest | 159 | ||||||
Net Earnings, Including Portion Attributable to Nonredeemable Noncontrolling Interest | 13,350 | ||||||
Other comprehensive income (loss) | (916) | 667 | (1,583) | ||||
Issuances of common stock, and related tax effects (in shares) | 10 | ||||||
Issuances of common stock, and related tax effects | 929 | $ 1 | 928 | ||||
Share-based compensation | 509 | 509 | |||||
Common share repurchases (in shares) | (9) | ||||||
Common share repurchases | (2,541) | $ 0 | (1,315) | (1,226) | |||
Cash dividends paid on common shares | (3,400) | (3,400) | |||||
Redeemable noncontrolling interests fair value and other adjustments | (129) | (129) | |||||
Acquisition and other adjustments of nonredeemable noncontrolling interests | 42 | 42 | |||||
Distribution to nonredeemable noncontrolling interests | (148) | (148) | |||||
Balance at Sep. 30, 2020 | $ 68,104 | $ 10 | 0 | 69,715 | 1,256 | (5,750) | 2,873 |
Balance (in shares) at Sep. 30, 2020 | 949 | 949 | |||||
Balance at Jun. 30, 2020 | $ 66,515 | $ 10 | 388 | 67,776 | 1,161 | (5,711) | 2,891 |
Balance (in shares) at Jun. 30, 2020 | 950 | ||||||
Net earnings attributable to UnitedHealth Group common shareholders | 3,172 | 3,172 | |||||
Net earnings attributable to nonredeemable noncontrolling interest | 62 | ||||||
Net Earnings, Including Portion Attributable to Nonredeemable Noncontrolling Interest | 3,234 | ||||||
Other comprehensive income (loss) | 56 | 95 | (39) | ||||
Issuances of common stock, and related tax effects (in shares) | 2 | ||||||
Issuances of common stock, and related tax effects | 321 | $ 0 | 321 | ||||
Share-based compensation | 131 | 131 | |||||
Common share repurchases (in shares) | (3) | ||||||
Common share repurchases | (850) | $ 0 | (805) | (45) | |||
Cash dividends paid on common shares | (1,188) | (1,188) | |||||
Redeemable noncontrolling interests fair value and other adjustments | (35) | (35) | |||||
Acquisition and other adjustments of nonredeemable noncontrolling interests | (8) | (8) | |||||
Distribution to nonredeemable noncontrolling interests | (72) | (72) | |||||
Balance at Sep. 30, 2020 | $ 68,104 | $ 10 | $ 0 | $ 69,715 | $ 1,256 | $ (5,750) | $ 2,873 |
Balance (in shares) at Sep. 30, 2020 | 949 | 949 |
Condensed Consolidated Statem_4
Condensed Consolidated Statement of Changes in Equity (Parenthetical) - $ / shares | Sep. 22, 2020 | Jun. 30, 2020 | Mar. 24, 2020 | Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 |
Statement of Stockholders' Equity [Abstract] | |||||||
Common Stock, Dividends, Per Share, Cash Paid | $ 1.25 | $ 1.25 | $ 1.08 | $ 1.25 | $ 1.08 | $ 3.58 | $ 3.06 |
Condensed Consolidated Statem_5
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Operating activities | ||
Net earnings | $ 13,417 | $ 10,571 |
Noncash items: | ||
Depreciation and amortization | 2,159 | 2,002 |
Deferred income taxes | 119 | 177 |
Share-based compensation | 527 | 525 |
Other, net | 48 | (181) |
Net change in other operating items, net of effects from acquisitions and changes in AARP balances: | ||
Accounts receivable | (194) | 957 |
Other assets | (2,697) | (2,181) |
Medical costs payable | (615) | 223 |
Accounts payable and other liabilities | 3,441 | 105 |
Unearned revenues | (132) | 60 |
Cash flows from operating activities | 16,073 | 12,258 |
Investing activities | ||
Purchases of investments | (11,570) | (13,386) |
Sales of investments | 4,887 | 6,198 |
Maturities of investments | 5,297 | 5,160 |
Cash paid for acquisitions, net of cash assumed | (4,326) | (8,200) |
Purchases of property, equipment and capitalized software | (1,477) | (1,421) |
Other, net | (165) | 338 |
Cash flows used for investing activities | (7,354) | (11,311) |
Financing activities | ||
Common share repurchases | (2,541) | (5,101) |
Cash dividends paid | (3,400) | (2,908) |
Proceeds from common stock issuances | 1,206 | 740 |
Repayments of long-term debt | (1,500) | (1,250) |
(Repayments of) proceeds from short-term borrowings, net | (423) | 3,998 |
Proceeds from issuance of long-term debt | 4,864 | 5,444 |
Customer funds administered | 249 | 420 |
Other, net | (449) | (756) |
Cash flows (used for) from financing activities | (1,994) | 587 |
Effect of exchange rate changes on cash and cash equivalents | (160) | (37) |
Increase in cash and cash equivalents | 6,565 | 1,497 |
Cash and cash equivalents, beginning of period | 10,985 | 10,866 |
Cash and cash equivalents, end of period | $ 17,550 | $ 12,363 |
Basis of Presentation (Notes)
Basis of Presentation (Notes) | 9 Months Ended |
Sep. 30, 2020 | |
Basis of Presentation and Significant Accounting Policies [Text Block] | Basis of Presentation UnitedHealth Group Incorporated (individually and together with its subsidiaries, “UnitedHealth Group” and “the Company”) is a diversified health 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. These core competencies are deployed within two distinct, but strategically aligned, business platforms: health benefits operating under UnitedHealthcare and health services operating under Optum. The Company has prepared the Condensed Consolidated Financial Statements according to U.S. Generally Accepted Accounting Principles (GAAP) and has included the accounts of UnitedHealth Group and its subsidiaries. The year-end condensed consolidated balance sheet was derived from audited financial statements, but does not include all disclosures required by GAAP. In accordance with the rules and regulations of the U.S. Securities and Exchange Commission (SEC), the Company has omitted certain footnote disclosures that would substantially duplicate the disclosures contained in its annual audited Consolidated Financial Statements. Therefore, these Condensed Consolidated Financial Statements should be read together with the Consolidated Financial Statements and the Notes included in Part II, Item 8, “Financial Statements and Supplementary Data” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019 as filed with the SEC (2019 10-K). The accompanying Condensed Consolidated Financial Statements include all normal recurring adjustments necessary to present the interim financial statements fairly. Use of Estimates These Condensed Consolidated Financial Statements include certain amounts based on the Company’s best estimates and judgments. The Company’s most significant estimates include medical costs payable and goodwill. 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 from Products For the three and nine months ended September 30, 2020, the Company recognized revenue and cost of products sold for retail pharmacy co-payments related to its OptumRx business. Revenue recognized in prior periods related to retail pharmacy transactions excludes the member’s applicable co-payment. There was no impact on earnings from operations, net earnings, earnings per share or total equity. Recently Adopted Accounting Standards In June 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standard Update (ASU) No. 2016-13, “Financial Instruments - Credit Losses (Topic 326)” (ASU 2016-13). ASU 2016-13 requires the use of the current expected credit loss impairment model to develop an estimate of expected credit losses for certain financial assets. ASU 2016-13 also requires expected credit losses on available-for-sale debt securities to be recognized through an allowance for credit losses and revises certain disclosure requirements. The Company adopted ASU 2016-13 on January 1, 2020 using a cumulative effect upon adoption approach. The adoption of ASU 2016-13 was immaterial to the Company’s consolidated balance sheet, results of operations, equity and cash flows. Under the current expected credit loss impairment model, the Company evaluates an available-for-sale debt security for credit-related impairment by considering the present value of expected cash flows relative to a security’s amortized cost, the extent to which fair value is less than amortized cost, the financial condition and near-term prospects of the issuer and specific events or circumstances that may influence the operations of the issuer. Credit-related impairments are recorded as an allowance, with an offset to investment and other income. Non-credit related impairments are recorded through other comprehensive income. If the Company intends to sell an impaired security, or will likely be required to sell a security before recovery of the entire amortized cost, the entire impairment is included in net earnings. The Company has determined that there have been no other recently adopted or issued accounting standards that had, or will have, a material impact on its Condensed Consolidated Financial Statements. |
Investments (Notes)
Investments (Notes) | 9 Months Ended |
Sep. 30, 2020 | |
Investments [Abstract] | |
Investments [Text Block] | Investments A summary of debt securities by major security type is as follows: (in millions) Amortized Gross Gross Fair September 30, 2020 Debt securities - available-for-sale: U.S. government and agency obligations $ 3,374 $ 160 $ — $ 3,534 State and municipal obligations 6,311 377 (4) 6,684 Corporate obligations 18,461 778 (35) 19,204 U.S. agency mortgage-backed securities 6,523 270 (3) 6,790 Non-U.S. agency mortgage-backed securities 2,033 98 (6) 2,125 Total debt securities - available-for-sale 36,702 1,683 (48) 38,337 Debt securities - held-to-maturity: U.S. government and agency obligations 422 7 — 429 State and municipal obligations 31 2 — 33 Corporate obligations 245 1 — 246 Total debt securities - held-to-maturity 698 10 — 708 Total debt securities $ 37,400 $ 1,693 $ (48) $ 39,045 December 31, 2019 Debt securities - available-for-sale: U.S. government and agency obligations $ 3,502 $ 55 $ (4) $ 3,553 State and municipal obligations 5,680 251 (5) 5,926 Corporate obligations 17,910 343 (11) 18,242 U.S. agency mortgage-backed securities 6,425 109 (6) 6,528 Non-U.S. agency mortgage-backed securities 1,811 37 (3) 1,845 Total debt securities - available-for-sale 35,328 795 (29) 36,094 Debt securities - held-to-maturity: U.S. government and agency obligations 402 2 — 404 State and municipal obligations 32 2 — 34 Corporate obligations 538 — (1) 537 Total debt securities - held-to-maturity 972 4 (1) 975 Total debt securities $ 36,300 $ 799 $ (30) $ 37,069 The Company held $2.1 billion and $2.0 billion of equity securities as of September 30, 2020 and December 31, 2019, respectively. The Company’s investments in equity securities primarily consist of employee savings plan related investments and shares of Brazilian real denominated fixed-income funds with readily determinable fair values. Additionally, the Company’s investments included $1.3 billion and $1.4 billion of equity method investments in operating businesses in the health care sector as of September 30, 2020 and December 31, 2019, respectively. The allowance for credit losses on held-to-maturity securities at September 30, 2020 was not material. The amortized cost and fair value of debt securities as of September 30, 2020, by contractual maturity, were as follows: Available-for-Sale Held-to-Maturity (in millions) Amortized Fair Amortized Fair Due in one year or less $ 3,388 $ 3,407 $ 400 $ 401 Due after one year through five years 11,253 11,678 246 252 Due after five years through ten years 9,179 9,826 30 31 Due after ten years 4,326 4,511 22 24 U.S. agency mortgage-backed securities 6,523 6,790 — — Non-U.S. agency mortgage-backed securities 2,033 2,125 — — Total debt securities $ 36,702 $ 38,337 $ 698 $ 708 The fair value of available-for-sale debt securities 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 Gross Fair Gross Fair Gross September 30, 2020 Debt securities - available-for-sale: State and municipal obligations $ 366 $ (4) $ — $ — $ 366 $ (4) Corporate obligations 2,314 (30) 400 (5) 2,714 (35) U.S. agency mortgage-backed securities 687 (3) — — 687 (3) Non-U.S. agency mortgage-backed securities 278 (3) 55 (3) 333 (6) Total debt securities - available-for-sale $ 3,645 $ (40) $ 455 $ (8) $ 4,100 $ (48) December 31, 2019 Debt securities - available-for-sale: U.S. government and agency obligations $ 616 $ (4) $ — $ — $ 616 $ (4) State and municipal obligations 440 (5) — — 440 (5) Corporate obligations 1,903 (7) 740 (4) 2,643 (11) U.S. agency mortgage-backed securities 657 (3) 333 (3) 990 (6) Non-U.S. agency mortgage-backed securities 406 (3) — — 406 (3) Total debt securities - available-for-sale $ 4,022 $ (22) $ 1,073 $ (7) $ 5,095 $ (29) The Company’s unrealized losses from debt securities as of September 30, 2020 were generated from approximately 3,000 positions out of a total of 34,000 positions. The Company believes that it will collect the timely 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 that impacted our assessment on collectability of principal and interest. At each reporting period, the Company evaluates available-for-sale debt securities for any credit-related impairment when the fair value of the investment is less than its amortized cost. The Company evaluated the expected cash flows, the underlying credit quality and credit ratings of the issuers, and the potential economic impacts of COVID-19 on the issuers, noting no significant credit deterioration since purchase. As of September 30, 2020, the Company did not have the intent to sell any of the available-for-sale debt securities in an unrealized loss position. Therefore, the Company believes these losses to be temporary. The allowance for credit losses on available-for-sale debt securities at September 30, 2020 was not material. |
Fair Value (Notes)
Fair Value (Notes) | 9 Months Ended |
Sep. 30, 2020 | |
Fair Value Disclosures [Abstract] | |
Fair Value [Text Block] | Fair Value Certain assets and liabilities are measured at fair value in the Condensed Consolidated Financial Statements or have fair values disclosed in the Notes to the Condensed Consolidated Financial Statements. These assets and liabilities are classified into one of three levels of a hierarchy defined by GAAP. For a description of the methods and assumptions that are used to estimate the fair value and determine the fair value hierarchy classification of each class of financial instrument, see Note 4 of Notes to the Consolidated Financial Statements in Part II, Item 8, “Financial Statements and Supplementary Data” in the 2019 10-K. The following table presents a summary of fair value measurements by level and carrying values for items measured at fair value on a recurring basis in the Condensed Consolidated Balance Sheets: (in millions) Quoted Prices Other Unobservable Total September 30, 2020 Cash and cash equivalents $ 17,472 $ 78 $ — $ 17,550 Debt securities - available-for-sale: U.S. government and agency obligations 3,336 198 — 3,534 State and municipal obligations — 6,684 — 6,684 Corporate obligations 44 18,881 279 19,204 U.S. agency mortgage-backed securities — 6,790 — 6,790 Non-U.S. agency mortgage-backed securities — 2,125 — 2,125 Total debt securities - available-for-sale 3,380 34,678 279 38,337 Equity securities 1,593 30 — 1,623 Assets under management 1,690 2,050 48 3,788 Total assets at fair value $ 24,135 $ 36,836 $ 327 $ 61,298 Percentage of total assets at fair value 39 % 60 % 1 % 100 % December 31, 2019 Cash and cash equivalents $ 10,837 $ 148 $ — $ 10,985 Debt securities - available-for-sale: U.S. government and agency obligations 3,369 184 — 3,553 State and municipal obligations — 5,926 — 5,926 Corporate obligations 70 17,923 249 18,242 U.S. agency mortgage-backed securities — 6,528 — 6,528 Non-U.S. agency mortgage-backed securities — 1,845 — 1,845 Total debt securities - available-for-sale 3,439 32,406 249 36,094 Equity securities 1,734 22 — 1,756 Assets under management 1,123 1,918 35 3,076 Total assets at fair value $ 17,133 $ 34,494 $ 284 $ 51,911 Percentage of total assets at fair value 33 % 66 % 1 % 100 % There were no transfers in or out of Level 3 financial assets or liabilities during the nine months ended September 30, 2020 or 2019. The following table presents a summary of fair value measurements by level and carrying values for certain financial instruments not measured at fair value on a recurring basis in the Condensed Consolidated Balance Sheets: (in millions) Quoted Prices Other Unobservable Total Total Carrying Value September 30, 2020 Debt securities - held-to-maturity $ 531 $ 99 $ 78 $ 708 $ 698 Long-term debt and other financing obligations $ — $ 51,785 $ — $ 51,785 $ 43,794 December 31, 2019 Debt securities - held-to-maturity $ 541 $ 181 $ 253 $ 975 $ 972 Long-term debt and other financing obligations $ — $ 45,078 $ — $ 45,078 $ 40,278 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 either the nine months ended September 30, 2020 or 2019. |
Medical Costs Payable (Notes)
Medical Costs Payable (Notes) | 9 Months Ended |
Sep. 30, 2020 | |
Insurance [Abstract] | |
Short-Duration Insurance and Deposit Contracts | Medical Costs Payable The following table shows the components of the change in medical costs payable for the nine months ended September 30: (in millions) 2020 2019 Medical costs payable, beginning of period $ 21,690 $ 19,891 Acquisitions 186 868 Reported medical costs: Current year 118,114 117,624 Prior years (800) (460) Total reported medical costs 117,314 117,164 Medical payments: Payments for current year (98,548) (99,487) Payments for prior years (19,475) (17,497) Total medical payments (118,023) (116,984) Medical costs payable, end of period $ 21,167 $ 20,939 |
Short-Term Borrowings and Long-
Short-Term Borrowings and Long-Term Debt (Notes) | 9 Months Ended |
Sep. 30, 2020 | |
Debt Disclosure [Abstract] | |
Debt Disclosure | Short-Term Borrowings and Long-Term Debt Short-term borrowings and senior unsecured long-term debt consisted of the following: September 30, 2020 December 31, 2019 (in millions, except percentages) Par Value Carrying Value Fair Value Par Value Carrying Value Fair Value Commercial paper $ — $ — $ — $ 400 $ 400 $ 400 2.700% notes due July 2020 — — — 1,500 1,499 1,506 Floating rate notes due October 2020 300 300 300 300 300 300 3.875% notes due October 2020 450 450 451 450 450 455 1.950% notes due October 2020 900 900 901 900 899 900 4.700% notes due February 2021 400 403 402 400 403 410 2.125% notes due March 2021 750 749 756 750 749 753 Floating rate notes due June 2021 350 350 351 350 349 350 3.150% notes due June 2021 400 400 408 400 399 407 3.375% notes due November 2021 500 509 513 500 501 512 2.875% notes due December 2021 750 765 774 750 753 765 2.875% notes due March 2022 1,100 1,115 1,133 1,100 1,087 1,121 3.350% notes due July 2022 1,000 998 1,054 1,000 998 1,036 2.375% notes due October 2022 900 897 937 900 896 911 0.000% notes due November 2022 15 13 14 15 13 14 2.750% notes due February 2023 625 646 656 625 624 638 2.875% notes due March 2023 750 793 794 750 770 770 3.500% notes due June 2023 750 748 811 750 747 786 3.500% notes due February 2024 750 746 825 750 746 792 2.375% notes due August 2024 750 747 799 750 747 760 3.750% notes due July 2025 2,000 1,992 2,283 2,000 1,990 2,161 3.700% notes due December 2025 300 298 343 300 298 325 1.250% notes due January 2026 500 496 513 — — — 3.100% notes due March 2026 1,000 996 1,118 1,000 996 1,048 3.450% notes due January 2027 750 746 853 750 746 804 3.375% notes due April 2027 625 620 713 625 620 667 2.950% notes due October 2027 950 940 1,060 950 939 988 3.850% notes due June 2028 1,150 1,143 1,357 1,150 1,142 1,269 3.875% notes due December 2028 850 843 1,010 850 843 941 2.875% notes due August 2029 1,000 1,104 1,115 1,000 993 1,029 2.000% notes due May 2030 1,250 1,233 1,310 — — — 4.625% notes due July 2035 1,000 992 1,317 1,000 992 1,215 5.800% notes due March 2036 850 839 1,231 850 838 1,129 6.500% notes due June 2037 500 492 778 500 492 712 6.625% notes due November 2037 650 641 1,027 650 641 940 6.875% notes due February 2038 1,100 1,077 1,772 1,100 1,076 1,631 3.500% notes due August 2039 1,250 1,241 1,436 1,250 1,241 1,313 2.750% notes due May 2040 1,000 964 1,057 — — — 5.700% notes due October 2040 300 296 438 300 296 396 5.950% notes due February 2041 350 346 525 350 345 475 4.625% notes due November 2041 600 589 787 600 589 716 4.375% notes due March 2042 502 485 639 502 484 580 3.950% notes due October 2042 625 608 760 625 607 688 4.250% notes due March 2043 750 735 949 750 735 856 4.750% notes due July 2045 2,000 1,973 2,730 2,000 1,973 2,463 4.200% notes due January 2047 750 738 950 750 738 861 4.250% notes due April 2047 725 717 923 725 717 839 3.750% notes due October 2047 950 934 1,130 950 934 1,023 4.250% notes due June 2048 1,350 1,330 1,721 1,350 1,330 1,569 4.450% notes due December 2048 1,100 1,086 1,457 1,100 1,086 1,316 3.700% notes due August 2049 1,250 1,235 1,496 1,250 1,235 1,344 2.900% notes due May 2050 1,250 1,208 1,318 — — — 3.875% notes due August 2059 1,250 1,228 1,529 1,250 1,228 1,350 3.125% notes due May 2060 1,000 968 1,073 — — — Total short-term borrowings and long-term debt $ 42,917 $ 42,662 $ 50,597 $ 39,817 $ 39,474 $ 44,234 The Company’s long-term debt obligations also included $1.1 billion and $1.2 billion of other financing obligations, of which $347 million and $322 million were classified as current as of September 30, 2020 and December 31, 2019, respectively. Commercial Paper and Bank Credit Facilities Commercial paper consists of short-duration, senior unsecured debt privately placed on a discount basis through broker-dealers. The Company has $4.4 billion five-year, $4.4 billion three-year and $3.8 billion 364-day revolving bank credit facilities with 25 banks, which mature in December 2024, December 2022 and December 2020, respectively. These facilities provide liquidity support for the Company’s commercial paper program and are available for general corporate purposes. As of September 30, 2020, 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 September 30, 2020, annual interest rates would have ranged from 0.8% to 1%. Debt Covenants The Company’s bank credit facilities contain various covenants, including covenants requiring the Company to maintain a defined debt to debt-plus-shareholders’ equity ratio of not more than 60%. The Company was in compliance with its debt covenants as of September 30, 2020. |
Dividends (Notes)
Dividends (Notes) | 9 Months Ended |
Sep. 30, 2020 | |
Equity [Abstract] | |
Stockholders' Equity Note Disclosure | Dividends In June 2020, the Company’s Board of Directors increased the Company’s quarterly cash dividend to shareholders to an annual rate of $5.00 compared to $4.32 per share, which the Company had paid since June 2019. Declaration and payment of future quarterly dividends is at the discretion of the Board and may be adjusted as business needs or market conditions change. The following table provides details of the Company’s 2020 dividend payments: Payment Date Amount per Share Total Amount Paid (in millions) March 24 $ 1.08 $ 1,024 June 30 1.25 1,188 September 22 1.25 1,188 |
Commitments and Contingencies (
Commitments and Contingencies (Notes) | 9 Months Ended |
Sep. 30, 2020 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies Disclosure [Text Block] | Commitments and Contingencies Legal Matters Because of the nature of its businesses, the Company is frequently made party to a variety of legal actions and regulatory inquiries, including class actions and suits brought by members, care providers, consumer advocacy organizations, customers and regulators, relating to the Company’s businesses, including management and administration of health benefit plans and other services. These matters include medical malpractice, employment, intellectual property, antitrust, privacy and contract claims and claims related to health care benefits coverage and other business practices. The Company records liabilities for its estimates of probable costs resulting from these matters where appropriate. Estimates of costs resulting from legal and regulatory matters involving the Company are inherently difficult to predict, particularly where the matters: involve indeterminate claims for monetary damages or may involve fines, penalties or punitive damages; present novel legal theories or represent a shift in regulatory policy; involve a large number of claimants or regulatory bodies; are in the early stages of the proceedings; or could result in a change in business practices. Accordingly, the Company is often unable to estimate the losses or ranges of losses for those matters where there is a reasonable possibility or it is probable that a loss may be incurred. Government Investigations, Audits and Reviews The Company has been involved or is currently involved in various governmental investigations, audits and reviews. These include routine, regular and special investigations, audits and reviews by the Centers for Medicare and Medicaid Services (CMS), state insurance and health and welfare departments, 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 U.S. Department of Labor, the Federal Deposit Insurance Corporation, the Defense Contract Audit Agency and other governmental authorities. Similarly, our international businesses are also subject to investigations, audits and reviews by applicable foreign governments, including South American and other non-U.S. 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 made improper risk adjustment submissions and violated the False Claims Act. On February 12, 2018, the court granted in part and denied in part the Company’s motion to dismiss. In May 2018, DOJ moved to dismiss the Company’s counterclaims, which were filed in March 2018, and moved for partial summary judgment. In March 2019, the court denied the government’s motion for partial summary judgment and dismissed the Company’s counterclaims without prejudice. The Company cannot reasonably estimate the outcome that may result from this matter given its procedural status. |
Segment Financial Information (
Segment Financial Information (Notes) | 9 Months Ended |
Sep. 30, 2020 | |
Segment Reporting [Abstract] | |
Segment Reporting Disclosure | Segment Financial Information The Company’s four reportable segments are UnitedHealthcare, OptumHealth, OptumInsight and OptumRx. For more information on the Company’s segments see Part I, Item I, “Business” and Note 14 of Notes to the Consolidated Financial Statements in Part II, Item 8, “Financial Statements and Supplementary Data” in the 2019 10-K. The following tables present reportable segment financial information: Optum (in millions) UnitedHealthcare OptumHealth OptumInsight OptumRx Optum Eliminations Optum Corporate and Consolidated Three Months Ended September 30, 2020 Revenues - unaffiliated customers: Premiums $ 48,121 $ 2,742 $ — $ — $ — $ 2,742 $ — $ 50,863 Products — 10 34 8,733 — 8,777 — 8,777 Services 2,075 1,834 974 241 — 3,049 — 5,124 Total revenues - unaffiliated customers 50,196 4,586 1,008 8,974 — 14,568 — 64,764 Total revenues - affiliated customers — 5,748 1,755 13,102 (424) 20,181 (20,181) — Investment and other income 177 165 4 5 — 174 — 351 Total revenues $ 50,373 $ 10,499 $ 2,767 $ 22,081 $ (424) $ 34,923 $ (20,181) $ 65,115 Earnings from operations $ 2,068 $ 835 $ 785 $ 963 $ — $ 2,583 $ — $ 4,651 Interest expense — — — — — — (395) (395) Earnings before income taxes $ 2,068 $ 835 $ 785 $ 963 $ — $ 2,583 $ (395) $ 4,256 Three Months Ended September 30, 2019 Revenues - unaffiliated customers: Premiums $ 45,557 $ 1,840 $ — $ — $ — $ 1,840 $ — $ 47,397 Products — 6 29 7,511 — 7,546 — 7,546 Services 2,274 1,487 988 193 — 2,668 — 4,942 Total revenues - unaffiliated customers 47,831 3,333 1,017 7,704 — 12,054 — 59,885 Total revenues - affiliated customers — 4,630 1,594 10,734 (441) 16,517 (16,517) — Investment and other income 274 170 6 16 — 192 — 466 Total revenues $ 48,105 $ 8,133 $ 2,617 $ 18,454 $ (441) $ 28,763 $ (16,517) $ 60,351 Earnings from operations $ 2,655 $ 748 $ 632 $ 979 $ — $ 2,359 $ — $ 5,014 Interest expense — — — — — — (449) (449) Earnings before income taxes $ 2,655 $ 748 $ 632 $ 979 $ — $ 2,359 $ (449) $ 4,565 Optum (in millions) UnitedHealthcare OptumHealth OptumInsight OptumRx Optum Eliminations Optum Corporate and Eliminations Consolidated Nine Months Ended September 30, 2020 Revenues - unaffiliated customers: Premiums $ 143,753 $ 7,144 $ — $ — $ — $ 7,144 $ — $ 150,897 Products — 26 90 25,339 — 25,455 — 25,455 Services 6,248 4,607 2,629 781 — 8,017 — 14,265 Total revenues - unaffiliated customers 150,001 11,777 2,719 26,120 — 40,616 — 190,617 Total revenues - affiliated customers — 16,623 5,140 38,843 (1,275) 59,331 (59,331) — Investment and other income 547 430 34 46 — 510 — 1,057 Total revenues $ 150,548 $ 28,830 $ 7,893 $ 65,009 $ (1,275) $ 100,457 $ (59,331) $ 191,674 Earnings from operations $ 11,963 $ 2,388 $ 1,882 $ 2,655 $ — $ 6,925 $ — $ 18,888 Interest expense — — — — — — (1,262) (1,262) Earnings before income taxes $ 11,963 $ 2,388 $ 1,882 $ 2,655 $ — $ 6,925 $ (1,262) $ 17,626 Nine Months Ended September 30, 2019 Revenues - unaffiliated customers: Premiums $ 138,088 $ 3,986 $ — $ — $ — $ 3,986 $ — $ 142,074 Products — 23 74 23,874 — 23,971 — 23,971 Services 6,603 4,131 2,532 490 — 7,153 — 13,756 Total revenues - unaffiliated customers 144,691 8,140 2,606 24,364 — 35,110 — 179,801 Total revenues - affiliated customers — 13,366 4,522 30,786 (1,181) 47,493 (47,493) — Investment and other income 904 488 17 44 — 549 — 1,453 Total revenues $ 145,595 $ 21,994 $ 7,145 $ 55,194 $ (1,181) $ 83,152 $ (47,493) $ 181,254 Earnings from operations $ 8,251 $ 2,062 $ 1,589 $ 2,688 $ — $ 6,339 $ — $ 14,590 Interest expense — — — — — — (1,267) (1,267) Earnings before income taxes $ 8,251 $ 2,062 $ 1,589 $ 2,688 $ — $ 6,339 $ (1,267) $ 13,323 |
Basis of Presentation Basis of
Basis of Presentation Basis of Presentation (Policies) | 9 Months Ended |
Sep. 30, 2020 | |
Basis of presentation [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | The Company has prepared the Condensed Consolidated Financial Statements according to U.S. Generally Accepted Accounting Principles (GAAP) and has included the accounts of UnitedHealth Group and its subsidiaries. The year-end condensed consolidated balance sheet was derived from audited financial statements, but does not include all disclosures required by GAAP. In accordance with the rules and regulations of the U.S. Securities and Exchange Commission (SEC), the Company has omitted certain footnote disclosures that would substantially duplicate the disclosures contained in its annual audited Consolidated Financial Statements. Therefore, these Condensed Consolidated Financial Statements should be read together with the Consolidated Financial Statements and the Notes included in Part II, Item 8, “Financial Statements and Supplementary Data” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019 as filed with the SEC (2019 10-K). The accompanying Condensed Consolidated Financial Statements include all normal recurring adjustments necessary to present the interim financial statements fairly. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates These Condensed Consolidated Financial Statements include certain amounts based on the Company’s best estimates and judgments. The Company’s most significant estimates include medical costs payable and goodwill. 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 [Policy Text Block] | Revenue from Products For the three and nine months ended September 30, 2020, the Company recognized revenue and cost of products sold for retail pharmacy co-payments related to its OptumRx business. Revenue recognized in prior periods related to retail pharmacy transactions excludes the member’s applicable co-payment. There was no impact on earnings from operations, net earnings, earnings per share or total equity. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Adopted Accounting Standards In June 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standard Update (ASU) No. 2016-13, “Financial Instruments - Credit Losses (Topic 326)” (ASU 2016-13). ASU 2016-13 requires the use of the current expected credit loss impairment model to develop an estimate of expected credit losses for certain financial assets. ASU 2016-13 also requires expected credit losses on available-for-sale debt securities to be recognized through an allowance for credit losses and revises certain disclosure requirements. The Company adopted ASU 2016-13 on January 1, 2020 using a cumulative effect upon adoption approach. The adoption of ASU 2016-13 was immaterial to the Company’s consolidated balance sheet, results of operations, equity and cash flows. Under the current expected credit loss impairment model, the Company evaluates an available-for-sale debt security for credit-related impairment by considering the present value of expected cash flows relative to a security’s amortized cost, the extent to which fair value is less than amortized cost, the financial condition and near-term prospects of the issuer and specific events or circumstances that may influence the operations of the issuer. Credit-related impairments are recorded as an allowance, with an offset to investment and other income. Non-credit related impairments are recorded through other comprehensive income. If the Company intends to sell an impaired security, or will likely be required to sell a security before recovery of the entire amortized cost, the entire impairment is included in net earnings. The Company has determined that there have been no other recently adopted or issued accounting standards that had, or will have, a material impact on its Condensed Consolidated Financial Statements. |
Investments (Policies)
Investments (Policies) | 9 Months Ended |
Sep. 30, 2020 | |
Investments [Abstract] | |
Investment, Policy [Policy Text Block] | At each reporting period, the Company evaluates available-for-sale debt securities for any credit-related impairment when the fair value of the investment is less than its amortized cost. The Company evaluated the expected cash flows, the underlying credit quality and credit ratings of the issuers, and the potential economic impacts of COVID-19 on the issuers, noting no significant credit deterioration since purchase. As of September 30, 2020, the Company did not have the intent to sell any of the available-for-sale debt securities in an unrealized loss position. Therefore, the Company believes these losses to be temporary. |
Investments (Tables)
Investments (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Short-Term and Long-Term Investments [Table Text Block] | A summary of debt securities by major security type is as follows: (in millions) Amortized Gross Gross Fair September 30, 2020 Debt securities - available-for-sale: U.S. government and agency obligations $ 3,374 $ 160 $ — $ 3,534 State and municipal obligations 6,311 377 (4) 6,684 Corporate obligations 18,461 778 (35) 19,204 U.S. agency mortgage-backed securities 6,523 270 (3) 6,790 Non-U.S. agency mortgage-backed securities 2,033 98 (6) 2,125 Total debt securities - available-for-sale 36,702 1,683 (48) 38,337 Debt securities - held-to-maturity: U.S. government and agency obligations 422 7 — 429 State and municipal obligations 31 2 — 33 Corporate obligations 245 1 — 246 Total debt securities - held-to-maturity 698 10 — 708 Total debt securities $ 37,400 $ 1,693 $ (48) $ 39,045 December 31, 2019 Debt securities - available-for-sale: U.S. government and agency obligations $ 3,502 $ 55 $ (4) $ 3,553 State and municipal obligations 5,680 251 (5) 5,926 Corporate obligations 17,910 343 (11) 18,242 U.S. agency mortgage-backed securities 6,425 109 (6) 6,528 Non-U.S. agency mortgage-backed securities 1,811 37 (3) 1,845 Total debt securities - available-for-sale 35,328 795 (29) 36,094 Debt securities - held-to-maturity: U.S. government and agency obligations 402 2 — 404 State and municipal obligations 32 2 — 34 Corporate obligations 538 — (1) 537 Total debt securities - held-to-maturity 972 4 (1) 975 Total debt securities $ 36,300 $ 799 $ (30) $ 37,069 |
Investments by Contractual Maturity [Table Text Block] | The amortized cost and fair value of debt securities as of September 30, 2020, by contractual maturity, were as follows: Available-for-Sale Held-to-Maturity (in millions) Amortized Fair Amortized Fair Due in one year or less $ 3,388 $ 3,407 $ 400 $ 401 Due after one year through five years 11,253 11,678 246 252 Due after five years through ten years 9,179 9,826 30 31 Due after ten years 4,326 4,511 22 24 U.S. agency mortgage-backed securities 6,523 6,790 — — Non-U.S. agency mortgage-backed securities 2,033 2,125 — — Total debt securities $ 36,702 $ 38,337 $ 698 $ 708 |
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 debt securities 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 Gross Fair Gross Fair Gross September 30, 2020 Debt securities - available-for-sale: State and municipal obligations $ 366 $ (4) $ — $ — $ 366 $ (4) Corporate obligations 2,314 (30) 400 (5) 2,714 (35) U.S. agency mortgage-backed securities 687 (3) — — 687 (3) Non-U.S. agency mortgage-backed securities 278 (3) 55 (3) 333 (6) Total debt securities - available-for-sale $ 3,645 $ (40) $ 455 $ (8) $ 4,100 $ (48) December 31, 2019 Debt securities - available-for-sale: U.S. government and agency obligations $ 616 $ (4) $ — $ — $ 616 $ (4) State and municipal obligations 440 (5) — — 440 (5) Corporate obligations 1,903 (7) 740 (4) 2,643 (11) U.S. agency mortgage-backed securities 657 (3) 333 (3) 990 (6) Non-U.S. agency mortgage-backed securities 406 (3) — — 406 (3) Total debt securities - available-for-sale $ 4,022 $ (22) $ 1,073 $ (7) $ 5,095 $ (29) |
Fair Value (Tables)
Fair Value (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
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 Condensed Consolidated Balance Sheets: (in millions) Quoted Prices Other Unobservable Total September 30, 2020 Cash and cash equivalents $ 17,472 $ 78 $ — $ 17,550 Debt securities - available-for-sale: U.S. government and agency obligations 3,336 198 — 3,534 State and municipal obligations — 6,684 — 6,684 Corporate obligations 44 18,881 279 19,204 U.S. agency mortgage-backed securities — 6,790 — 6,790 Non-U.S. agency mortgage-backed securities — 2,125 — 2,125 Total debt securities - available-for-sale 3,380 34,678 279 38,337 Equity securities 1,593 30 — 1,623 Assets under management 1,690 2,050 48 3,788 Total assets at fair value $ 24,135 $ 36,836 $ 327 $ 61,298 Percentage of total assets at fair value 39 % 60 % 1 % 100 % December 31, 2019 Cash and cash equivalents $ 10,837 $ 148 $ — $ 10,985 Debt securities - available-for-sale: U.S. government and agency obligations 3,369 184 — 3,553 State and municipal obligations — 5,926 — 5,926 Corporate obligations 70 17,923 249 18,242 U.S. agency mortgage-backed securities — 6,528 — 6,528 Non-U.S. agency mortgage-backed securities — 1,845 — 1,845 Total debt securities - available-for-sale 3,439 32,406 249 36,094 Equity securities 1,734 22 — 1,756 Assets under management 1,123 1,918 35 3,076 Total assets at fair value $ 17,133 $ 34,494 $ 284 $ 51,911 Percentage of total assets at fair value 33 % 66 % 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 Condensed Consolidated Balance Sheets: (in millions) Quoted Prices Other Unobservable Total Total Carrying Value September 30, 2020 Debt securities - held-to-maturity $ 531 $ 99 $ 78 $ 708 $ 698 Long-term debt and other financing obligations $ — $ 51,785 $ — $ 51,785 $ 43,794 December 31, 2019 Debt securities - held-to-maturity $ 541 $ 181 $ 253 $ 975 $ 972 Long-term debt and other financing obligations $ — $ 45,078 $ — $ 45,078 $ 40,278 |
Medical Costs Payable (Tables)
Medical Costs Payable (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Insurance [Abstract] | |
Schedule of Liability for Unpaid Claims and Claims Adjustment Expense | The following table shows the components of the change in medical costs payable for the nine months ended September 30: (in millions) 2020 2019 Medical costs payable, beginning of period $ 21,690 $ 19,891 Acquisitions 186 868 Reported medical costs: Current year 118,114 117,624 Prior years (800) (460) Total reported medical costs 117,314 117,164 Medical payments: Payments for current year (98,548) (99,487) Payments for prior years (19,475) (17,497) Total medical payments (118,023) (116,984) Medical costs payable, end of period $ 21,167 $ 20,939 |
Short-Term Borrowings and Lon_2
Short-Term Borrowings and Long-Term Debt (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Debt Instrument [Line Items] | |
Commercial Paper and Long-Term Debt [Table Text Block] | Short-term borrowings and senior unsecured long-term debt consisted of the following: September 30, 2020 December 31, 2019 (in millions, except percentages) Par Value Carrying Value Fair Value Par Value Carrying Value Fair Value Commercial paper $ — $ — $ — $ 400 $ 400 $ 400 2.700% notes due July 2020 — — — 1,500 1,499 1,506 Floating rate notes due October 2020 300 300 300 300 300 300 3.875% notes due October 2020 450 450 451 450 450 455 1.950% notes due October 2020 900 900 901 900 899 900 4.700% notes due February 2021 400 403 402 400 403 410 2.125% notes due March 2021 750 749 756 750 749 753 Floating rate notes due June 2021 350 350 351 350 349 350 3.150% notes due June 2021 400 400 408 400 399 407 3.375% notes due November 2021 500 509 513 500 501 512 2.875% notes due December 2021 750 765 774 750 753 765 2.875% notes due March 2022 1,100 1,115 1,133 1,100 1,087 1,121 3.350% notes due July 2022 1,000 998 1,054 1,000 998 1,036 2.375% notes due October 2022 900 897 937 900 896 911 0.000% notes due November 2022 15 13 14 15 13 14 2.750% notes due February 2023 625 646 656 625 624 638 2.875% notes due March 2023 750 793 794 750 770 770 3.500% notes due June 2023 750 748 811 750 747 786 3.500% notes due February 2024 750 746 825 750 746 792 2.375% notes due August 2024 750 747 799 750 747 760 3.750% notes due July 2025 2,000 1,992 2,283 2,000 1,990 2,161 3.700% notes due December 2025 300 298 343 300 298 325 1.250% notes due January 2026 500 496 513 — — — 3.100% notes due March 2026 1,000 996 1,118 1,000 996 1,048 3.450% notes due January 2027 750 746 853 750 746 804 3.375% notes due April 2027 625 620 713 625 620 667 2.950% notes due October 2027 950 940 1,060 950 939 988 3.850% notes due June 2028 1,150 1,143 1,357 1,150 1,142 1,269 3.875% notes due December 2028 850 843 1,010 850 843 941 2.875% notes due August 2029 1,000 1,104 1,115 1,000 993 1,029 2.000% notes due May 2030 1,250 1,233 1,310 — — — 4.625% notes due July 2035 1,000 992 1,317 1,000 992 1,215 5.800% notes due March 2036 850 839 1,231 850 838 1,129 6.500% notes due June 2037 500 492 778 500 492 712 6.625% notes due November 2037 650 641 1,027 650 641 940 6.875% notes due February 2038 1,100 1,077 1,772 1,100 1,076 1,631 3.500% notes due August 2039 1,250 1,241 1,436 1,250 1,241 1,313 2.750% notes due May 2040 1,000 964 1,057 — — — 5.700% notes due October 2040 300 296 438 300 296 396 5.950% notes due February 2041 350 346 525 350 345 475 4.625% notes due November 2041 600 589 787 600 589 716 4.375% notes due March 2042 502 485 639 502 484 580 3.950% notes due October 2042 625 608 760 625 607 688 4.250% notes due March 2043 750 735 949 750 735 856 4.750% notes due July 2045 2,000 1,973 2,730 2,000 1,973 2,463 4.200% notes due January 2047 750 738 950 750 738 861 4.250% notes due April 2047 725 717 923 725 717 839 3.750% notes due October 2047 950 934 1,130 950 934 1,023 4.250% notes due June 2048 1,350 1,330 1,721 1,350 1,330 1,569 4.450% notes due December 2048 1,100 1,086 1,457 1,100 1,086 1,316 3.700% notes due August 2049 1,250 1,235 1,496 1,250 1,235 1,344 2.900% notes due May 2050 1,250 1,208 1,318 — — — 3.875% notes due August 2059 1,250 1,228 1,529 1,250 1,228 1,350 3.125% notes due May 2060 1,000 968 1,073 — — — Total short-term borrowings and long-term debt $ 42,917 $ 42,662 $ 50,597 $ 39,817 $ 39,474 $ 44,234 |
Dividends (Tables)
Dividends (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Equity [Abstract] | |
Dividends Declared | The following table provides details of the Company’s 2020 dividend payments: Payment Date Amount per Share Total Amount Paid (in millions) March 24 $ 1.08 $ 1,024 June 30 1.25 1,188 September 22 1.25 1,188 |
Segment Financial Information_2
Segment Financial Information (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Segment Reporting [Abstract] | |
Schedule of Segment Reporting Information, by Segment | The following tables present reportable segment financial information: Optum (in millions) UnitedHealthcare OptumHealth OptumInsight OptumRx Optum Eliminations Optum Corporate and Consolidated Three Months Ended September 30, 2020 Revenues - unaffiliated customers: Premiums $ 48,121 $ 2,742 $ — $ — $ — $ 2,742 $ — $ 50,863 Products — 10 34 8,733 — 8,777 — 8,777 Services 2,075 1,834 974 241 — 3,049 — 5,124 Total revenues - unaffiliated customers 50,196 4,586 1,008 8,974 — 14,568 — 64,764 Total revenues - affiliated customers — 5,748 1,755 13,102 (424) 20,181 (20,181) — Investment and other income 177 165 4 5 — 174 — 351 Total revenues $ 50,373 $ 10,499 $ 2,767 $ 22,081 $ (424) $ 34,923 $ (20,181) $ 65,115 Earnings from operations $ 2,068 $ 835 $ 785 $ 963 $ — $ 2,583 $ — $ 4,651 Interest expense — — — — — — (395) (395) Earnings before income taxes $ 2,068 $ 835 $ 785 $ 963 $ — $ 2,583 $ (395) $ 4,256 Three Months Ended September 30, 2019 Revenues - unaffiliated customers: Premiums $ 45,557 $ 1,840 $ — $ — $ — $ 1,840 $ — $ 47,397 Products — 6 29 7,511 — 7,546 — 7,546 Services 2,274 1,487 988 193 — 2,668 — 4,942 Total revenues - unaffiliated customers 47,831 3,333 1,017 7,704 — 12,054 — 59,885 Total revenues - affiliated customers — 4,630 1,594 10,734 (441) 16,517 (16,517) — Investment and other income 274 170 6 16 — 192 — 466 Total revenues $ 48,105 $ 8,133 $ 2,617 $ 18,454 $ (441) $ 28,763 $ (16,517) $ 60,351 Earnings from operations $ 2,655 $ 748 $ 632 $ 979 $ — $ 2,359 $ — $ 5,014 Interest expense — — — — — — (449) (449) Earnings before income taxes $ 2,655 $ 748 $ 632 $ 979 $ — $ 2,359 $ (449) $ 4,565 Optum (in millions) UnitedHealthcare OptumHealth OptumInsight OptumRx Optum Eliminations Optum Corporate and Eliminations Consolidated Nine Months Ended September 30, 2020 Revenues - unaffiliated customers: Premiums $ 143,753 $ 7,144 $ — $ — $ — $ 7,144 $ — $ 150,897 Products — 26 90 25,339 — 25,455 — 25,455 Services 6,248 4,607 2,629 781 — 8,017 — 14,265 Total revenues - unaffiliated customers 150,001 11,777 2,719 26,120 — 40,616 — 190,617 Total revenues - affiliated customers — 16,623 5,140 38,843 (1,275) 59,331 (59,331) — Investment and other income 547 430 34 46 — 510 — 1,057 Total revenues $ 150,548 $ 28,830 $ 7,893 $ 65,009 $ (1,275) $ 100,457 $ (59,331) $ 191,674 Earnings from operations $ 11,963 $ 2,388 $ 1,882 $ 2,655 $ — $ 6,925 $ — $ 18,888 Interest expense — — — — — — (1,262) (1,262) Earnings before income taxes $ 11,963 $ 2,388 $ 1,882 $ 2,655 $ — $ 6,925 $ (1,262) $ 17,626 Nine Months Ended September 30, 2019 Revenues - unaffiliated customers: Premiums $ 138,088 $ 3,986 $ — $ — $ — $ 3,986 $ — $ 142,074 Products — 23 74 23,874 — 23,971 — 23,971 Services 6,603 4,131 2,532 490 — 7,153 — 13,756 Total revenues - unaffiliated customers 144,691 8,140 2,606 24,364 — 35,110 — 179,801 Total revenues - affiliated customers — 13,366 4,522 30,786 (1,181) 47,493 (47,493) — Investment and other income 904 488 17 44 — 549 — 1,453 Total revenues $ 145,595 $ 21,994 $ 7,145 $ 55,194 $ (1,181) $ 83,152 $ (47,493) $ 181,254 Earnings from operations $ 8,251 $ 2,062 $ 1,589 $ 2,688 $ — $ 6,339 $ — $ 14,590 Interest expense — — — — — — (1,267) (1,267) Earnings before income taxes $ 8,251 $ 2,062 $ 1,589 $ 2,688 $ — $ 6,339 $ (1,267) $ 13,323 |
Basis of Presentation Basis o_2
Basis of Presentation Basis of Presentation, Uses of Estimates and Significant Accounting Policies (Details) | Jan. 01, 2020 |
Accounting Standards Update 2016-13 [Member] | |
Change in Accounting Principle, Accounting Standards Update, Retrospective Application Impracticable [true false] | true |
Investments (Narrative) (Detail
Investments (Narrative) (Details) number in Thousands, $ in Millions | Sep. 30, 2020USD ($) | Dec. 31, 2019USD ($) |
Investments [Abstract] | ||
Equity Securities, FV-NI | $ 2,100 | $ 2,000 |
Equity Method Investments | $ 1,300 | $ 1,400 |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 3 | |
Total number of security positions | 34 |
Investments (Short-Term and Lon
Investments (Short-Term and Long-Term Investments) (Details) - USD ($) $ in Millions | Sep. 30, 2020 | Dec. 31, 2019 |
Schedule of Investments [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | $ 36,702 | $ 35,328 |
Securities, Available for sale Debt Securities, Gross Unrealized Gains | 1,683 | 795 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (48) | (29) |
Debt Securities, Available-for-sale | 38,337 | 36,094 |
Held-to-maturity securities, Amortized Cost | 698 | 972 |
Securities, Held to maturity, Unrecognized Holding Gain | 10 | 4 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | 0 | (1) |
Debt Securities, Held-to-maturity, Fair Value | 708 | 975 |
Total debt securities, Amortized Cost | 37,400 | 36,300 |
Total debt securities, Gross Unrealized Gains | 1,693 | 799 |
Total debt securities, Gross Unrealized Losses | (48) | (30) |
Debt securities, Fair Value Disclosure | 39,045 | 37,069 |
Debt Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Debt Securities, Available-for-sale | 38,337 | 36,094 |
U.S. Government and Agency Obligations [Member] | ||
Schedule of Investments [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 3,374 | 3,502 |
Securities, Available for sale Debt Securities, Gross Unrealized Gains | 160 | 55 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 0 | (4) |
Debt Securities, Available-for-sale | 3,534 | 3,553 |
Held-to-maturity securities, Amortized Cost | 422 | 402 |
Securities, Held to maturity, Unrecognized Holding Gain | 7 | 2 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | 0 | 0 |
Debt Securities, Held-to-maturity, Fair Value | 429 | 404 |
State and Municipal Obligations [Member] | ||
Schedule of Investments [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 6,311 | 5,680 |
Securities, Available for sale Debt Securities, Gross Unrealized Gains | 377 | 251 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (4) | (5) |
Debt Securities, Available-for-sale | 6,684 | 5,926 |
Held-to-maturity securities, Amortized Cost | 31 | 32 |
Securities, Held to maturity, Unrecognized Holding Gain | 2 | 2 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | 0 | 0 |
Debt Securities, Held-to-maturity, Fair Value | 33 | 34 |
Corporate Obligations [Member] | ||
Schedule of Investments [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 18,461 | 17,910 |
Securities, Available for sale Debt Securities, Gross Unrealized Gains | 778 | 343 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (35) | (11) |
Debt Securities, Available-for-sale | 19,204 | 18,242 |
Held-to-maturity securities, Amortized Cost | 245 | 538 |
Securities, Held to maturity, Unrecognized Holding Gain | 1 | 0 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | 0 | (1) |
Debt Securities, Held-to-maturity, Fair Value | 246 | 537 |
U.S. Agency Mortgage-Backed Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 6,523 | 6,425 |
Securities, Available for sale Debt Securities, Gross Unrealized Gains | 270 | 109 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (3) | (6) |
Debt Securities, Available-for-sale | 6,790 | 6,528 |
Non-U.S. Agency Mortgage-Backed Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 2,033 | 1,811 |
Securities, Available for sale Debt Securities, Gross Unrealized Gains | 98 | 37 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (6) | (3) |
Debt Securities, Available-for-sale | $ 2,125 | $ 1,845 |
Investments (Amortized Cost and
Investments (Amortized Cost and Fair Value of Available-for-Sale Debt Securities by Contractual Maturity) (Details) - USD ($) $ in Millions | Sep. 30, 2020 | Dec. 31, 2019 |
Schedule of Investments [Line Items] | ||
Due in one year or less, Amortized Cost | $ 3,388 | |
Due after one year through five years, Amortized Cost | 11,253 | |
Due after five years through ten years, Amortized Cost | 9,179 | |
Due after ten years, Amortized Cost | 4,326 | |
Total debt securities - available-for-sale, Amortized Cost | 36,702 | $ 35,328 |
Due in one year or less, Fair Value | 3,407 | |
Due after one year through five years, Fair Value | 11,678 | |
Due after five years through ten years, Fair Value | 9,826 | |
Due after ten years, Fair Value | 4,511 | |
Debt Securities, Available-for-sale | 38,337 | 36,094 |
Debt Securities, Held-to-Maturity, Amortized Cost, Maturity, Allocated and Single Maturity Date, Year One | 400 | |
Debt Securities, Held-to-Maturity, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year One Through Five | 246 | |
Debt Securities, Held-to-Maturity, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year 5 Through 10 | 30 | |
Debt Securities, Held-to-Maturity, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year 10 | 22 | |
Debt Securities, Held-to-maturity | 698 | 972 |
Held-to-maturity Securities, Debt Maturities, within One Year, Fair Value | 401 | |
Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, after Year One Through Five | 252 | |
Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 5 Through 10 | 31 | |
Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 10 | 24 | |
Debt Securities, Held-to-maturity, Fair Value | 708 | 975 |
U.S. Agency Mortgage-Backed Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Mortgage-backed securities, Amortized Cost | 6,523 | |
Total debt securities - available-for-sale, Amortized Cost | 6,523 | 6,425 |
Mortgage-backed securities, Fair Value | 6,790 | |
Debt Securities, Available-for-sale | 6,790 | 6,528 |
Non-U.S. Agency Mortgage-Backed Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Mortgage-backed securities, Amortized Cost | 2,033 | |
Total debt securities - available-for-sale, Amortized Cost | 2,033 | 1,811 |
Mortgage-backed securities, Fair Value | 2,125 | |
Debt Securities, Available-for-sale | $ 2,125 | $ 1,845 |
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 | Sep. 30, 2020 | Dec. 31, 2019 |
Debt Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Less Than 12 Months, Fair Value | $ 3,645 | $ 4,022 |
Less Than 12 Months, Gross Unrealized Losses | (40) | (22) |
Greater Than 12 Months, Fair Value | 455 | 1,073 |
Greater Than 12 Months, Gross Unrealized Losses | (8) | (7) |
Total, Fair Value | 4,100 | 5,095 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (48) | (29) |
U.S. Government and Agency Obligations [Member] | ||
Schedule of Investments [Line Items] | ||
Less Than 12 Months, Fair Value | 616 | |
Less Than 12 Months, Gross Unrealized Losses | (4) | |
Greater Than 12 Months, Fair Value | 0 | |
Greater Than 12 Months, Gross Unrealized Losses | 0 | |
Total, Fair Value | 616 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (4) | |
State and Municipal Obligations [Member] | ||
Schedule of Investments [Line Items] | ||
Less Than 12 Months, Fair Value | 366 | 440 |
Less Than 12 Months, Gross Unrealized Losses | (4) | (5) |
Greater Than 12 Months, Fair Value | 0 | 0 |
Greater Than 12 Months, Gross Unrealized Losses | 0 | 0 |
Total, Fair Value | 366 | 440 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (4) | (5) |
Corporate Obligations [Member] | ||
Schedule of Investments [Line Items] | ||
Less Than 12 Months, Fair Value | 2,314 | 1,903 |
Less Than 12 Months, Gross Unrealized Losses | (30) | (7) |
Greater Than 12 Months, Fair Value | 400 | 740 |
Greater Than 12 Months, Gross Unrealized Losses | (5) | (4) |
Total, Fair Value | 2,714 | 2,643 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (35) | (11) |
U.S. Agency Mortgage-Backed Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Less Than 12 Months, Fair Value | 687 | 657 |
Less Than 12 Months, Gross Unrealized Losses | (3) | (3) |
Greater Than 12 Months, Fair Value | 0 | 333 |
Greater Than 12 Months, Gross Unrealized Losses | 0 | (3) |
Total, Fair Value | 687 | 990 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (3) | (6) |
Non-U.S. Agency Mortgage-Backed Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Less Than 12 Months, Fair Value | 278 | 406 |
Less Than 12 Months, Gross Unrealized Losses | (3) | (3) |
Greater Than 12 Months, Fair Value | 55 | 0 |
Greater Than 12 Months, Gross Unrealized Losses | (3) | 0 |
Total, Fair Value | 333 | 406 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | $ (6) | $ (3) |
Fair Value (Narrative) (Details
Fair Value (Narrative) (Details) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Fair Value [Line Items] | ||
Transfers Into Level 3 | $ 0 | $ 0 |
Transfers out of Level 3 | 0 | 0 |
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 | Sep. 30, 2020 | Dec. 31, 2019 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and cash equivalents | $ 17,550 | $ 10,985 |
Debt Securities, Available-for-sale | 38,337 | 36,094 |
Equity Securities, Fair Value | 1,623 | 1,756 |
Assets under management | 3,788 | 3,076 |
Assets, Fair Value Disclosure | 61,298 | 51,911 |
Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale | 38,337 | 36,094 |
U.S. Government and Agency Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale | 3,534 | 3,553 |
State and Municipal Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale | 6,684 | 5,926 |
Corporate Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale | 19,204 | 18,242 |
U.S. Agency Mortgage-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale | 6,790 | 6,528 |
Non-U.S. Agency Mortgage-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale | 2,125 | 1,845 |
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 | 17,472 | 10,837 |
Equity Securities, Fair Value | 1,593 | 1,734 |
Assets under management | 1,690 | 1,123 |
Assets, Fair Value Disclosure | 24,135 | 17,133 |
Quoted Prices in Active Markets (Level 1) [Member] | Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale | 3,380 | 3,439 |
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] | ||
Debt Securities, Available-for-sale | 3,336 | 3,369 |
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] | ||
Debt Securities, Available-for-sale | 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] | ||
Debt Securities, Available-for-sale | 44 | 70 |
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] | ||
Debt Securities, Available-for-sale | 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] | ||
Debt Securities, Available-for-sale | 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 | 78 | 148 |
Equity Securities, Fair Value | 30 | 22 |
Assets under management | 2,050 | 1,918 |
Assets, Fair Value Disclosure | 36,836 | 34,494 |
Other Observable Inputs (Level 2) [Member] | Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale | 34,678 | 32,406 |
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] | ||
Debt Securities, Available-for-sale | 198 | 184 |
Other Observable Inputs (Level 2) [Member] | State and Municipal Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale | 6,684 | 5,926 |
Other Observable Inputs (Level 2) [Member] | Corporate Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale | 18,881 | 17,923 |
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] | ||
Debt Securities, Available-for-sale | 6,790 | 6,528 |
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] | ||
Debt Securities, Available-for-sale | 2,125 | 1,845 |
Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and cash equivalents | 0 | 0 |
Equity Securities, Fair Value | 0 | 0 |
Assets under management | 48 | 35 |
Assets, Fair Value Disclosure | 327 | 284 |
Unobservable Inputs (Level 3) [Member] | Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale | 279 | 249 |
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] | ||
Debt Securities, Available-for-sale | 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] | ||
Debt Securities, Available-for-sale | 0 | 0 |
Unobservable Inputs (Level 3) [Member] | Corporate Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale | 279 | 249 |
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] | ||
Debt Securities, Available-for-sale | 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] | ||
Debt Securities, Available-for-sale | $ 0 | $ 0 |
Fair Value (Financial Assets _2
Fair Value (Financial Assets and Liabilities, Not Measured at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Millions | Sep. 30, 2020 | Dec. 31, 2019 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Held-to-maturity, Fair Value | $ 708 | $ 975 |
Debt Securities, Held-to-maturity | 698 | 972 |
Debt and other financing obligations, carrying value | 42,662 | 39,474 |
Fair Value, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Held-to-maturity, Fair Value | 708 | 975 |
Debt and other financing obligations | 51,785 | 45,078 |
Fair Value, Nonrecurring [Member] | Quoted Prices in Active Markets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Held-to-maturity, Fair Value | 531 | 541 |
Debt and other financing obligations | 0 | 0 |
Fair Value, Nonrecurring [Member] | Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Held-to-maturity, Fair Value | 99 | 181 |
Debt and other financing obligations | 51,785 | 45,078 |
Fair Value, Nonrecurring [Member] | Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Held-to-maturity, Fair Value | 78 | 253 |
Debt and other financing obligations | 0 | 0 |
Long-term debt and other financing obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt and other financing obligations, carrying value | $ 43,794 | $ 40,278 |
Medical Costs Payable (Narrativ
Medical Costs Payable (Narrative) (Details) - USD ($) $ in Billions | Sep. 30, 2020 | Dec. 31, 2019 |
Insurance [Abstract] | ||
Liability for Unpaid Claims and Claims Adjustment Expense, Incurred but Not Reported (IBNR) Claims, Amount | $ 14.7 | $ 13.8 |
Medical Costs Payable (Details)
Medical Costs Payable (Details) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | ||
Medical costs payable, beginning of period | $ 21,690 | $ 19,891 |
Acquisitions | 186 | 868 |
Reported medical costs: | ||
Current year | 118,114 | 117,624 |
Prior year | (800) | (460) |
Total reported medical costs | 117,314 | 117,164 |
Medical payments: | ||
Payments for current year | (98,548) | (99,487) |
Payments for prior years | (19,475) | (17,497) |
Total medical payments | (118,023) | (116,984) |
Medical costs payable, end of period | $ 21,167 | $ 20,939 |
Short-Term Borrowings and Lon_3
Short-Term Borrowings and Long-Term Debt (Narrative) (Details) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2020 | Dec. 31, 2019 | |
Revolving Credit Facility [Member] | Minimum [Member] | ||
Debt Instrument [Line Items] | ||
Line of Credit Facility, Interest Rate at Period End | 0.80% | |
Revolving Credit Facility [Member] | Maximum [Member] | ||
Debt Instrument [Line Items] | ||
Line of Credit Facility, Interest Rate at Period End | 1.00% | |
Five year $4.4 billion credit facility [Member] | Revolving Credit Facility [Member] | ||
Debt Instrument [Line Items] | ||
Line of Credit, Credit Facility, Maximum Borrowing Capacity | $ 4,400 | |
Line of Credit Facility, Expiration Period | 5 years | |
Three year $4.4 billion credit facility [Member] | Revolving Credit Facility [Member] | ||
Debt Instrument [Line Items] | ||
Line of Credit, Credit Facility, Maximum Borrowing Capacity | $ 4,400 | |
Line of Credit Facility, Expiration Period | 3 years | |
364 day $3.8 billion credit facility [Member] | Revolving Credit Facility [Member] | ||
Debt Instrument [Line Items] | ||
Line of Credit, Credit Facility, Maximum Borrowing Capacity | $ 3,800 | |
Line of Credit Facility, Expiration Period | 364 days | |
Subsidiaries [Member] | ||
Debt Instrument [Line Items] | ||
Other Long-term Debt | $ 1,100 | $ 1,200 |
Other Long-term Debt, Current | $ 347 | $ 322 |
Short-Term Borrowings and Lon_4
Short-Term Borrowings and Long-Term Debt (Details) - USD ($) $ in Millions | Sep. 30, 2020 | Dec. 31, 2019 |
Debt Instrument [Line Items] | ||
Par Value | $ 42,917 | $ 39,817 |
Carrying value, Combined Amount | 42,662 | 39,474 |
Fair Value | 50,597 | 44,234 |
Commercial Paper [Member] | ||
Debt Instrument [Line Items] | ||
Commercial Paper | 0 | 400 |
Par Value | 0 | 400 |
Fair Value | $ 0 | 400 |
2.700% Notes due July 2020 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 2.70% | |
Par Value | $ 0 | 1,500 |
Carrying Value, Current | 0 | 1,499 |
Fair Value | 0 | 1,506 |
Floating rate notes due October 2020 [Member] | ||
Debt Instrument [Line Items] | ||
Par Value | 300 | 300 |
Carrying Value, Current | 300 | 300 |
Fair Value | $ 300 | 300 |
3.875% notes due October 2020 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.875% | |
Par Value | $ 450 | 450 |
Carrying Value, Current | 450 | 450 |
Fair Value | $ 451 | 455 |
1.950% notes due October 2020 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 1.95% | |
Par Value | $ 900 | 900 |
Carrying Value, Current | 900 | 899 |
Fair Value | $ 901 | 900 |
4.700% notes due February 2021 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 4.70% | |
Par Value | $ 400 | 400 |
Carrying Value, Current | 403 | |
Carrying Value, Noncurrent | 403 | |
Fair Value | $ 402 | 410 |
2.125% notes due March 2021 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 2.125% | |
Par Value | $ 750 | 750 |
Carrying Value, Current | 749 | |
Carrying Value, Noncurrent | 749 | |
Fair Value | 756 | 753 |
Floating rate notes due June 2021 [Member] | ||
Debt Instrument [Line Items] | ||
Par Value | 350 | 350 |
Carrying Value, Noncurrent | 350 | 349 |
Fair Value | $ 351 | 350 |
3.150% notes due June 2021 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.15% | |
Par Value | $ 400 | 400 |
Carrying Value, Noncurrent | 400 | 399 |
Fair Value | $ 408 | 407 |
3.375% notes due November 2021 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.375% | |
Par Value | $ 500 | 500 |
Carrying Value, Noncurrent | 509 | 501 |
Fair Value | $ 513 | 512 |
2.875% notes due December 2021 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 2.875% | |
Par Value | $ 750 | 750 |
Carrying Value, Noncurrent | 765 | 753 |
Fair Value | $ 774 | 765 |
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 |
Carrying Value, Noncurrent | 1,115 | 1,087 |
Fair Value | $ 1,133 | 1,121 |
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 |
Carrying Value, Noncurrent | 998 | 998 |
Fair Value | $ 1,054 | 1,036 |
2.375% notes due October 2022 [Member] [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 2.375% | |
Par Value | $ 900 | 900 |
Carrying Value, Noncurrent | 897 | 896 |
Fair Value | $ 937 | 911 |
Zero Coupon notes due November 2022 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 0.00% | |
Par Value | $ 15 | 15 |
Carrying Value, Noncurrent | 13 | 13 |
Fair Value | $ 14 | 14 |
2.750% notes due February 2023 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 2.75% | |
Par Value | $ 625 | 625 |
Carrying Value, Noncurrent | 646 | 624 |
Fair Value | $ 656 | 638 |
2.875% notes due March 2023 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 2.875% | |
Par Value | $ 750 | 750 |
Carrying Value, Noncurrent | 793 | 770 |
Fair Value | $ 794 | 770 |
3.500% notes due June 2023 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.50% | |
Par Value | $ 750 | 750 |
Carrying Value, Noncurrent | 748 | 747 |
Fair Value | $ 811 | 786 |
3.500% notes due February 2024 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.50% | |
Par Value | $ 750 | 750 |
Carrying Value, Noncurrent | 746 | 746 |
Fair Value | $ 825 | 792 |
2.375% notes due August 2024 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 2.375% | |
Par Value | $ 750 | 750 |
Carrying Value, Noncurrent | 747 | 747 |
Fair Value | $ 799 | 760 |
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 |
Carrying Value, Noncurrent | 1,992 | 1,990 |
Fair Value | $ 2,283 | 2,161 |
3.700% notes due December 2025 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.70% | |
Par Value | $ 300 | 300 |
Carrying Value, Noncurrent | 298 | 298 |
Fair Value | $ 343 | 325 |
1.250% notes due January 2026 | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 1.25% | |
Par Value | $ 500 | 0 |
Carrying Value, Noncurrent | 496 | 0 |
Fair Value | $ 513 | 0 |
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 |
Carrying Value, Noncurrent | 996 | 996 |
Fair Value | $ 1,118 | 1,048 |
3.450% notes due January 2027 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.45% | |
Par Value | $ 750 | 750 |
Carrying Value, Noncurrent | 746 | 746 |
Fair Value | $ 853 | 804 |
3.375% notes due April 2027 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.375% | |
Par Value | $ 625 | 625 |
Carrying Value, Noncurrent | 620 | 620 |
Fair Value | $ 713 | 667 |
2.950% notes due October 2027 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 2.95% | |
Par Value | $ 950 | 950 |
Carrying Value, Noncurrent | 940 | 939 |
Fair Value | $ 1,060 | 988 |
3.850% notes due June 2028 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.85% | |
Par Value | $ 1,150 | 1,150 |
Carrying Value, Noncurrent | 1,143 | 1,142 |
Fair Value | $ 1,357 | 1,269 |
3.875% notes due December 2028 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.875% | |
Par Value | $ 850 | 850 |
Carrying Value, Noncurrent | 843 | 843 |
Fair Value | $ 1,010 | 941 |
2.875% notes due August 2029 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 2.875% | |
Par Value | $ 1,000 | 1,000 |
Carrying Value, Noncurrent | 1,104 | 993 |
Fair Value | $ 1,115 | 1,029 |
2.000% notes due May 2030 | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 2.00% | |
Par Value | $ 1,250 | 0 |
Carrying Value, Noncurrent | 1,233 | 0 |
Fair Value | $ 1,310 | 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 |
Carrying Value, Noncurrent | 992 | 992 |
Fair Value | $ 1,317 | 1,215 |
5.800% notes due March 2036 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 5.80% | |
Par Value | $ 850 | 850 |
Carrying Value, Noncurrent | 839 | 838 |
Fair Value | $ 1,231 | 1,129 |
6.500% Notes Due June 2037 [Member] [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 6.50% | |
Par Value | $ 500 | 500 |
Carrying Value, Noncurrent | 492 | 492 |
Fair Value | $ 778 | 712 |
6.625% Notes due November 2037 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 6.625% | |
Par Value | $ 650 | 650 |
Carrying Value, Noncurrent | 641 | 641 |
Fair Value | $ 1,027 | 940 |
6.875% notes due February 2038 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 6.875% | |
Par Value | $ 1,100 | 1,100 |
Carrying Value, Noncurrent | 1,077 | 1,076 |
Fair Value | $ 1,772 | 1,631 |
3.500% notes due August 2039 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.50% | |
Par Value | $ 1,250 | 1,250 |
Carrying Value, Noncurrent | 1,241 | 1,241 |
Fair Value | $ 1,436 | 1,313 |
2.750% notes due May 2040 | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 2.75% | |
Par Value | $ 1,000 | 0 |
Carrying Value, Noncurrent | 964 | 0 |
Fair Value | $ 1,057 | 0 |
5.700% notes due October 2040 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 5.70% | |
Par Value | $ 300 | 300 |
Carrying Value, Noncurrent | 296 | 296 |
Fair Value | $ 438 | 396 |
5.950% notes due February 2041 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 5.95% | |
Par Value | $ 350 | 350 |
Carrying Value, Noncurrent | 346 | 345 |
Fair Value | $ 525 | 475 |
4.625% notes due November 2041 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 4.625% | |
Par Value | $ 600 | 600 |
Carrying Value, Noncurrent | 589 | 589 |
Fair Value | $ 787 | 716 |
4.375% notes due March 2042 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 4.375% | |
Par Value | $ 502 | 502 |
Carrying Value, Noncurrent | 485 | 484 |
Fair Value | $ 639 | 580 |
3.950% notes due October 2042 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.95% | |
Par Value | $ 625 | 625 |
Carrying Value, Noncurrent | 608 | 607 |
Fair Value | $ 760 | 688 |
4.250% notes due March 2043 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 4.25% | |
Par Value | $ 750 | 750 |
Carrying Value, Noncurrent | 735 | 735 |
Fair Value | $ 949 | 856 |
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 |
Carrying Value, Noncurrent | 1,973 | 1,973 |
Fair Value | $ 2,730 | 2,463 |
4.200% notes due January 2047 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 4.20% | |
Par Value | $ 750 | 750 |
Carrying Value, Noncurrent | 738 | 738 |
Fair Value | $ 950 | 861 |
4.250% notes due April 2047 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 4.25% | |
Par Value | $ 725 | 725 |
Carrying Value, Noncurrent | 717 | 717 |
Fair Value | $ 923 | 839 |
3.750% notes due October 2047 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.75% | |
Par Value | $ 950 | 950 |
Carrying Value, Noncurrent | 934 | 934 |
Fair Value | $ 1,130 | 1,023 |
4.250% notes due June 2048 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 4.25% | |
Par Value | $ 1,350 | 1,350 |
Carrying Value, Noncurrent | 1,330 | 1,330 |
Fair Value | $ 1,721 | 1,569 |
4.450% notes due December 2048 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 4.45% | |
Par Value | $ 1,100 | 1,100 |
Carrying Value, Noncurrent | 1,086 | 1,086 |
Fair Value | $ 1,457 | 1,316 |
3.700% notes due August 2049 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.70% | |
Par Value | $ 1,250 | 1,250 |
Carrying Value, Noncurrent | 1,235 | 1,235 |
Fair Value | $ 1,496 | 1,344 |
2.900% notes due May 2050 | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 2.90% | |
Par Value | $ 1,250 | 0 |
Carrying Value, Noncurrent | 1,208 | 0 |
Fair Value | $ 1,318 | 0 |
3.875% notes due August 2059 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.875% | |
Par Value | $ 1,250 | 1,250 |
Carrying Value, Noncurrent | 1,228 | 1,228 |
Fair Value | $ 1,529 | 1,350 |
3.125% notes due May 2060 | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.125% | |
Par Value | $ 1,000 | 0 |
Carrying Value, Noncurrent | 968 | 0 |
Fair Value | $ 1,073 | $ 0 |
Dividends (Details)
Dividends (Details) - USD ($) $ / shares in Units, $ in Millions | Sep. 22, 2020 | Jun. 30, 2020 | Mar. 24, 2020 | Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 |
Equity [Abstract] | |||||||
Common Stock, Dividends, Per Share, Cash Paid | $ 1.25 | $ 1.25 | $ 1.08 | $ 1.25 | $ 1.08 | $ 3.58 | $ 3.06 |
Payments of Ordinary Dividends, Common Stock | $ 1,188 | $ 1,188 | $ 1,024 | $ 3,400 | $ 2,908 |
Segment Financial Information_3
Segment Financial Information (Narrative) (Details) | 9 Months Ended |
Sep. 30, 2020reportableSegments | |
Statement [Line Items] | |
Number of Reportable Segments | 4 |
Segment Financial Information_4
Segment Financial Information (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Statement [Line Items] | ||||
Premiums, revenues - unaffiliated customers | $ 50,863 | $ 47,397 | $ 150,897 | $ 142,074 |
Products | 8,777 | 7,546 | 25,455 | 23,971 |
Services | 5,124 | 4,942 | 14,265 | 13,756 |
Investment and other income | 351 | 466 | 1,057 | 1,453 |
Total revenues | 65,115 | 60,351 | 191,674 | 181,254 |
Earnings from operations | 4,651 | 5,014 | 18,888 | 14,590 |
Interest expense | (395) | (449) | (1,262) | (1,267) |
Earnings before income taxes | 4,256 | 4,565 | 17,626 | 13,323 |
Optum | ||||
Statement [Line Items] | ||||
Investment and other income | 174 | 192 | 510 | 549 |
Total revenues | 34,923 | 28,763 | 100,457 | 83,152 |
Earnings from operations | 2,583 | 2,359 | 6,925 | 6,339 |
Interest expense | 0 | 0 | 0 | 0 |
Earnings before income taxes | 2,583 | 2,359 | 6,925 | 6,339 |
Unaffiliated Customers | ||||
Statement [Line Items] | ||||
Premiums, revenues - unaffiliated customers | 50,863 | 47,397 | 150,897 | 142,074 |
Products | 8,777 | 7,546 | 25,455 | 23,971 |
Services | 5,124 | 4,942 | 14,265 | 13,756 |
Total revenues | 64,764 | 59,885 | 190,617 | 179,801 |
Unaffiliated Customers | Optum | ||||
Statement [Line Items] | ||||
Premiums, revenues - unaffiliated customers | 2,742 | 1,840 | 7,144 | 3,986 |
Products | 8,777 | 7,546 | 25,455 | 23,971 |
Services | 3,049 | 2,668 | 8,017 | 7,153 |
Total revenues | 14,568 | 12,054 | 40,616 | 35,110 |
Affiliated Customers | ||||
Statement [Line Items] | ||||
Total revenues | 0 | 0 | 0 | 0 |
Affiliated Customers | Optum | ||||
Statement [Line Items] | ||||
Total revenues | 20,181 | 16,517 | 59,331 | 47,493 |
Operating Segments | UnitedHealthcare | ||||
Statement [Line Items] | ||||
Investment and other income | 177 | 274 | 547 | 904 |
Total revenues | 50,373 | 48,105 | 150,548 | 145,595 |
Earnings from operations | 2,068 | 2,655 | 11,963 | 8,251 |
Interest expense | 0 | 0 | 0 | 0 |
Earnings before income taxes | 2,068 | 2,655 | 11,963 | 8,251 |
Operating Segments | OptumHealth | ||||
Statement [Line Items] | ||||
Investment and other income | 165 | 170 | 430 | 488 |
Total revenues | 10,499 | 8,133 | 28,830 | 21,994 |
Earnings from operations | 835 | 748 | 2,388 | 2,062 |
Interest expense | 0 | 0 | 0 | 0 |
Earnings before income taxes | 835 | 748 | 2,388 | 2,062 |
Operating Segments | OptumInsight | ||||
Statement [Line Items] | ||||
Investment and other income | 4 | 6 | 34 | 17 |
Total revenues | 2,767 | 2,617 | 7,893 | 7,145 |
Earnings from operations | 785 | 632 | 1,882 | 1,589 |
Interest expense | 0 | 0 | 0 | 0 |
Earnings before income taxes | 785 | 632 | 1,882 | 1,589 |
Operating Segments | OptumRx | ||||
Statement [Line Items] | ||||
Investment and other income | 5 | 16 | 46 | 44 |
Total revenues | 22,081 | 18,454 | 65,009 | 55,194 |
Earnings from operations | 963 | 979 | 2,655 | 2,688 |
Interest expense | 0 | 0 | 0 | 0 |
Earnings before income taxes | 963 | 979 | 2,655 | 2,688 |
Operating Segments | Unaffiliated Customers | UnitedHealthcare | ||||
Statement [Line Items] | ||||
Premiums, revenues - unaffiliated customers | 48,121 | 45,557 | 143,753 | 138,088 |
Products | 0 | 0 | 0 | 0 |
Services | 2,075 | 2,274 | 6,248 | 6,603 |
Total revenues | 50,196 | 47,831 | 150,001 | 144,691 |
Operating Segments | Unaffiliated Customers | OptumHealth | ||||
Statement [Line Items] | ||||
Premiums, revenues - unaffiliated customers | 2,742 | 1,840 | 7,144 | 3,986 |
Products | 10 | 6 | 26 | 23 |
Services | 1,834 | 1,487 | 4,607 | 4,131 |
Total revenues | 4,586 | 3,333 | 11,777 | 8,140 |
Operating Segments | Unaffiliated Customers | OptumInsight | ||||
Statement [Line Items] | ||||
Premiums, revenues - unaffiliated customers | 0 | 0 | 0 | 0 |
Products | 34 | 29 | 90 | 74 |
Services | 974 | 988 | 2,629 | 2,532 |
Total revenues | 1,008 | 1,017 | 2,719 | 2,606 |
Operating Segments | Unaffiliated Customers | OptumRx | ||||
Statement [Line Items] | ||||
Premiums, revenues - unaffiliated customers | 0 | 0 | 0 | 0 |
Products | 8,733 | 7,511 | 25,339 | 23,874 |
Services | 241 | 193 | 781 | 490 |
Total revenues | 8,974 | 7,704 | 26,120 | 24,364 |
Operating Segments | Affiliated Customers | UnitedHealthcare | ||||
Statement [Line Items] | ||||
Total revenues | 0 | 0 | 0 | 0 |
Operating Segments | Affiliated Customers | OptumHealth | ||||
Statement [Line Items] | ||||
Total revenues | 5,748 | 4,630 | 16,623 | 13,366 |
Operating Segments | Affiliated Customers | OptumInsight | ||||
Statement [Line Items] | ||||
Total revenues | 1,755 | 1,594 | 5,140 | 4,522 |
Operating Segments | Affiliated Customers | OptumRx | ||||
Statement [Line Items] | ||||
Total revenues | 13,102 | 10,734 | 38,843 | 30,786 |
Optum Eliminations | ||||
Statement [Line Items] | ||||
Investment and other income | 0 | 0 | 0 | 0 |
Total revenues | (424) | (441) | (1,275) | (1,181) |
Earnings from operations | 0 | 0 | 0 | 0 |
Interest expense | 0 | 0 | 0 | 0 |
Earnings before income taxes | 0 | 0 | 0 | 0 |
Optum Eliminations | Unaffiliated Customers | ||||
Statement [Line Items] | ||||
Premiums, revenues - unaffiliated customers | 0 | 0 | 0 | 0 |
Products | 0 | 0 | 0 | 0 |
Services | 0 | 0 | 0 | 0 |
Total revenues | 0 | 0 | 0 | 0 |
Optum Eliminations | Affiliated Customers | ||||
Statement [Line Items] | ||||
Total revenues | (424) | (441) | (1,275) | (1,181) |
Corporate and Eliminations | ||||
Statement [Line Items] | ||||
Investment and other income | 0 | 0 | 0 | 0 |
Total revenues | (20,181) | (16,517) | (59,331) | (47,493) |
Earnings from operations | 0 | 0 | 0 | 0 |
Interest expense | (395) | (449) | (1,262) | (1,267) |
Earnings before income taxes | (395) | (449) | (1,262) | (1,267) |
Corporate and Eliminations | Unaffiliated Customers | ||||
Statement [Line Items] | ||||
Premiums, revenues - unaffiliated customers | 0 | 0 | 0 | 0 |
Products | 0 | 0 | 0 | 0 |
Services | 0 | 0 | 0 | 0 |
Total revenues | 0 | 0 | 0 | 0 |
Corporate and Eliminations | Affiliated Customers | ||||
Statement [Line Items] | ||||
Total revenues | $ (20,181) | $ (16,517) | $ (59,331) | $ (47,493) |