Document and Entity Information
Document and Entity Information Document - shares | 3 Months Ended | |
Mar. 31, 2017 | Apr. 28, 2017 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2017 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q1 | |
Entitiy Registrant Name | UNITEDHEALTH GROUP INC | |
Entitiy Central Index Key | 731,766 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 963,661,565 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Millions | Mar. 31, 2017 | Dec. 31, 2016 |
Current assets: | ||
Cash and cash equivalents | $ 16,142 | $ 10,430 |
Short-term investments | 3,210 | 2,845 |
Accounts receivable, net | 9,595 | 8,152 |
Other current receivables, net | 6,609 | 7,499 |
Assets under management | 2,886 | 3,105 |
Prepaid expenses and other current assets | 2,547 | 1,848 |
Total current assets | 40,989 | 33,879 |
Long-term investments | 25,760 | 23,868 |
Property, equipment and capitalized software, net | 6,329 | 5,901 |
Goodwill | 52,376 | 47,584 |
Other intangible assets, net | 8,618 | 8,541 |
Other assets | 3,085 | 3,037 |
Total assets | 137,157 | 122,810 |
Current liabilities: | ||
Medical costs payable | 17,650 | 16,391 |
Accounts payable and accrued liabilities | 13,473 | 13,361 |
Commercial paper and current maturities of long-term debt | 7,747 | 7,193 |
Unearned revenues | 6,475 | 1,968 |
Other current liabilities | 12,198 | 10,339 |
Total current liabilities | 57,543 | 49,252 |
Long-term debt, less current maturities | 26,154 | 25,777 |
Future policy benefits | 2,519 | 2,524 |
Deferred income taxes | 2,894 | 2,761 |
Other liabilities | 2,385 | 2,307 |
Total liabilities | 91,495 | 82,621 |
Commitments and contingencies (Note 7) | ||
Redeemable noncontrolling interests | 1,667 | 2,012 |
Equity: | ||
Preferred stock, $0.001 par value - 10 shares authorized; no shares issued or outstanding | 0 | 0 |
Common stock, $0.01 par value - 3,000 shares authorized; 965 and 952 issued and outstanding | 10 | 10 |
Additional paid-in capital | 1,819 | 0 |
Retained earnings | 42,521 | 40,945 |
Accumulated other comprehensive loss | (2,447) | (2,681) |
Nonredeemable noncontrolling interest | 2,092 | (97) |
Total equity | 43,995 | 38,177 |
Total liabilities, redeemable noncontrolling interests and equity | $ 137,157 | $ 122,810 |
Condensed Consolidated Balance3
Condensed Consolidated Balance Sheet (Parenthetical) - $ / shares shares in Millions | Mar. 31, 2017 | Dec. 31, 2016 |
Common stock, par value | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 3,000 | 3,000 |
Common stock, shares issued | 965 | 952 |
Common stock, shares outstanding | 965 | 952 |
Preferred stock, par value | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 10 | 10 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Revenues: | ||
Premiums | $ 38,938 | $ 34,811 |
Products | 6,129 | 6,393 |
Services | 3,434 | 3,140 |
Investment and other income | 222 | 183 |
Total revenues | 48,723 | 44,527 |
Operating costs: | ||
Medical costs | 32,079 | 28,430 |
Operating costs | 7,022 | 6,758 |
Cost of products sold | 5,676 | 5,877 |
Depreciation and amortization | 533 | 502 |
Total operating costs | 45,310 | 41,567 |
Earnings from operations | 3,413 | 2,960 |
Interest expense | (283) | (259) |
Earnings before income taxes | 3,130 | 2,701 |
Provision for income taxes | (939) | (1,074) |
Net earnings | 2,191 | 1,627 |
Earnings attributable to noncontrolling interests | (19) | (16) |
Net earnings attributable to UnitedHealth Group common shareholders | $ 2,172 | $ 1,611 |
Earnings per share attributable to UnitedHealth Group common shareholders: | ||
Basic | $ 2.28 | $ 1.69 |
Diluted | $ 2.23 | $ 1.67 |
Basic weighted-average number of common shares outstanding | 954 | 953 |
Dilutive effect of common share equivalents | 21 | 14 |
Diluted weighted-average number of common shares outstanding | 975 | 967 |
Anti-dilutive shares excluded from the calculation of dilutive effect of common share equivalents | 9 | 7 |
Cash dividends declared per common share | $ 0.625 | $ 0.500 |
Condensed Consolidated Stateme5
Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Net earnings | $ 2,191 | $ 1,627 |
Other comprehensive income: | ||
Gross unrealized gains on investment securities during the period | 99 | 260 |
Income tax effect | (32) | (96) |
Total unrealized gains, net of tax | 67 | 164 |
Gross reclassification adjustment for net realized gains included in net earnings | (21) | (35) |
Income tax effect | 8 | 13 |
Total reclassification adjustment, net of tax | (13) | (22) |
Total foreign currency translation gains | 180 | 388 |
Other comprehensive income | 234 | 530 |
Comprehensive income | 2,425 | 2,157 |
Comprehensive income attributable to noncontrolling interests | (19) | (16) |
Comprehensive income attributable to UnitedHealth Group common shareholders | $ 2,406 | $ 2,141 |
Condensed Consolidated Stateme6
Condensed Consolidated Statements of Changes in Equity - USD ($) shares in Millions, $ in Millions | Total | Common Stock [Member] | Additional Paid-In Capital [Member] | Retained Earnings [Member] | Net Unrealized Gains (Losses) on Investments [Member] | Foreign Currency Translation (Losses) Gains [Member] | Nonredeemable Noncontrolling Interest [Member] |
Balance (in shares) at Dec. 31, 2015 | 953 | ||||||
Balance at Dec. 31, 2015 | $ 33,725 | $ 10 | $ 29 | $ 37,125 | $ 56 | $ (3,390) | $ (105) |
Adjustment to adopt ASU 2016-09 | 28 | 28 | |||||
Net earnings attributable to UnitedHealth Group common shareholders | 1,611 | 1,611 | |||||
Net earnings attributable to nonredeemable noncontrolling interest | 11 | ||||||
Net Earnings, Including Portion Attributable to Nonredeemable Noncontrolling Interest | 1,622 | ||||||
Other comprehensive income | 530 | 142 | 388 | ||||
Issuances of common stock, and related tax effects (in shares) | 5 | ||||||
Issuances of common stock, and related tax effects | 56 | $ 0 | 56 | ||||
Share-based compensation | 150 | 150 | |||||
Common share repurchases (in shares) | (4) | ||||||
Common share repurchases | (500) | $ 0 | (176) | (324) | |||
Cash dividends paid on common shares | (477) | (477) | |||||
Redeemable noncontrolling interests fair value and other adjustments | (59) | (59) | |||||
Distribution to nonredeemable noncontrolling interest | (8) | (8) | |||||
Balance (in shares) at Mar. 31, 2016 | 954 | ||||||
Balance at Mar. 31, 2016 | $ 35,067 | $ 10 | 0 | 37,963 | 198 | (3,002) | (102) |
Balance (in shares) at Dec. 31, 2016 | 952 | 952 | |||||
Balance at Dec. 31, 2016 | $ 38,177 | $ 10 | 0 | 40,945 | (97) | (2,584) | (97) |
Net earnings attributable to UnitedHealth Group common shareholders | 2,172 | 2,172 | |||||
Net earnings attributable to nonredeemable noncontrolling interest | 9 | ||||||
Net Earnings, Including Portion Attributable to Nonredeemable Noncontrolling Interest | 2,181 | ||||||
Other comprehensive income | 234 | 54 | 180 | ||||
Issuances of common stock, and related tax effects (in shares) | 17 | ||||||
Issuances of common stock, and related tax effects | 1,923 | $ 0 | 1,923 | ||||
Share-based compensation | 189 | 189 | |||||
Common share repurchases (in shares) | (4) | ||||||
Common share repurchases | (682) | $ 0 | (682) | 0 | |||
Cash dividends paid on common shares | (596) | (596) | |||||
Redeemable noncontrolling interests fair value and other adjustments | 389 | 389 | |||||
Acquisition of nonredeemable noncontrolling interests | 2,191 | 2,191 | |||||
Distribution to nonredeemable noncontrolling interest | $ (11) | (11) | |||||
Balance (in shares) at Mar. 31, 2017 | 965 | 965 | |||||
Balance at Mar. 31, 2017 | $ 43,995 | $ 10 | $ 1,819 | $ 42,521 | $ (43) | $ (2,404) | $ 2,092 |
Condensed Consolidated Stateme7
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Operating activities | ||
Net earnings | $ 2,191 | $ 1,627 |
Noncash items: | ||
Depreciation and amortization | 533 | 502 |
Deferred income taxes | (89) | 145 |
Share-based compensation | 196 | 157 |
Other, net | 43 | 6 |
Net change in other operating items, net of effects from acquisitions and changes in AARP balances: | ||
Accounts receivable | (1,232) | (1,110) |
Other assets | (998) | (2,162) |
Medical costs payable | 1,024 | 1,368 |
Accounts payable and other liabilities | 292 | 2,036 |
Unearned revenues | 4,496 | (251) |
Cash flows from operating activities | 6,456 | 2,318 |
Investing activities | ||
Purchases of investments | (3,683) | (5,173) |
Sales of investments | 1,018 | 2,122 |
Maturities of investments | 1,326 | 978 |
Cash paid for acquisitions, net of cash assumed | (468) | (1,697) |
Purchases of property, equipment and capitalized software | (507) | (425) |
Other, net | 25 | 14 |
Cash flows used for investing activities | (2,289) | (4,181) |
Financing activities | ||
Common share repurchases | (682) | (500) |
Cash dividends paid | (596) | (477) |
Proceeds from common stock issuances | 270 | 198 |
Proceeds from issuance of long-term debt | 1,342 | 2,485 |
Repayments of long-term debt | (1,392) | (601) |
Repayments of commercial paper, net | (139) | (285) |
Customer funds administered | 3,217 | 1,067 |
Other, net | (495) | (385) |
Cash flows from financing activities | 1,525 | 1,502 |
Effect of exchange rate changes on cash and cash equivalents | 20 | 34 |
Increase (decrease) in cash and cash equivalents | 5,712 | (327) |
Cash and cash equivalents, beginning of period | 10,430 | 10,923 |
Cash and Cash Equivalents, end of period | 16,142 | 10,596 |
Supplemental Schedule of Noncash Investing Activities | ||
Common stock issued for acquisition | $ 1,860 | $ 0 |
Basis of Presentation (Notes)
Basis of Presentation (Notes) | 3 Months Ended |
Mar. 31, 2017 | |
Basis of Presentation and Significant Accounting Policies [Text Block] | Basis of Presentation and Significant Accounting Policies UnitedHealth Group Incorporated (individually and together with its subsidiaries, “UnitedHealth Group” and “the Company”) is a diversified health and well-being company dedicated to helping people live healthier lives and helping to make the health system work better for everyone. Through its diversified family of businesses, the Company leverages core competencies in advanced, enabling technology; health care data, information and intelligence; and clinical care management and coordination to help meet the demands of the health system. These core competencies are deployed within the Company’s 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” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016 as filed with the SEC ( 2016 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 relate to estimates and judgments for medical costs payable and revenues, valuation and impairment analysis of goodwill and other intangible assets and valuations of certain investments. Certain of these estimates require the application of complex assumptions and judgments, often because they involve matters that are inherently uncertain and will likely change in subsequent periods. The impact of any change in estimates is included in earnings in the period in which the estimate is adjusted. Revenues The Company’s revenues include premium, product, and service revenues. Service revenues include net patient service revenues that are recorded based upon established billing rates, less allowances for contractual adjustments, and are recognized as services are provided. For more information about the Company’s revenues, see Notes 2 and 13 of Notes to the Consolidated Financial Statements in Part II, Item 8, “Financial Statements” in the 2016 10-K. See Note 8 for disaggregation of revenue by segment and type. As of March 31, 2017, accounts receivables related to products and services were $3.3 billion . For the three months ended March 31, 2017, the Company had no material bad-debt expense and there were no material contract assets, contract liabilities or deferred contract costs recorded on the Condensed Consolidated Balance Sheet as of March 31, 2017. For the three months ended March 31, 2017, revenue recognized from performance obligations related to prior periods (for example, due to changes in transaction price), was not material. Revenue expected to be recognized in any future year related to remaining performance obligations, excluding revenue pertaining to contracts that have an original expected duration of one year or less, contracts where revenue is recognized as invoiced and contracts with variable consideration related to undelivered performance obligations, is not material. Health Insurance Industry Tax The Patient Protection and Affordable Care Act (ACA) included an annual, nondeductible insurance industry tax (Health Insurance Industry Tax) to be levied proportionally across the insurance industry for risk-based health insurance products. A provision in the 2016 Federal Budget imposed a one year moratorium for 2017 on the collection of the Health Insurance Industry Tax. The Company has experienced a lower effective income tax rate in 2017 as compared to 2016 primarily due to the moratorium. The remainder of the accounting policies disclosed in Note 2 of Notes to the Consolidated Financial Statements in Part II, Item 8, “Financial Statements” in the 2016 10-K remain unchanged. Recently Issued Accounting Standards In February 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standard Update (ASU) No. 2016-02, “Leases (Topic 842)” (ASU 2016-02). Under ASU 2016-02, an entity will be required to recognize assets and liabilities for the rights and obligations created by leases on the entity’s balance sheet for both finance and operating leases. For leases with a term of 12 months or less, an entity can elect to not recognize lease assets and lease liabilities and expense the lease over a straight-line basis for the term of the lease. ASU 2016-02 will require new disclosures that depict the amount, timing, and uncertainty of cash flows pertaining to an entity’s leases. Companies are required to adopt the new standard using a modified retrospective approach for annual and interim periods beginning after December 15, 2018. Early adoption of ASU 2016-02 is permitted. When adopted, the Company does not expect ASU 2016-02 to have a material impact on its results of operations, equity or cash flows. The impact of ASU 2016-02 on the Company’s consolidated financial position will be based on leases outstanding at the time of adoption. In January 2016, the FASB issued ASU 2016-01, “Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities” (ASU 2016-01). The new guidance changes the current accounting related to (i) the classification and measurement of certain equity investments, (ii) the presentation of changes in the fair value of financial liabilities measured under the fair value option that are due to instrument-specific credit risk, and (iii) certain disclosures associated with the fair value of financial instruments. Most notably, ASU 2016-01 requires that equity investments, with certain exemptions, be measured at fair value with changes in fair value recognized in net income as opposed to other comprehensive income. The new guidance is effective for annual and interim reporting periods beginning after December 15, 2017. As of March 31, 2017, based on equity securities held, the Company does not expect ASU 2016-01 to have a material impact on its consolidated financial position, results of operations, equity or cash flows. The Company will continue to evaluate any changes in its mix of investments or market conditions and the related impact of ASU 2016-01. Recently Adopted Accounting Standards In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606)” as modified by subsequently issued ASUs 2015-14, 2016-08, 2016-10, 2016-12 and 2016-20 (collectively ASU 2014-09). ASU 2014-09 superseded existing revenue recognition standards with a single model unless those contracts are within the scope of other standards (e.g., an insurance entity’s insurance contracts). The revenue recognition principle in ASU 2014-09 is that an entity should recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The Company early adopted the new standard effective January 1, 2017, as allowed, using the modified retrospective approach. A significant majority of the Company’s revenues are not subject to the new guidance. The adoption of ASU 2014-09 did not have a material impact on the Company’s consolidated financial position, results of operations, equity or cash flows as of the adoption date or for the three months ended March 31, 2017. The Company has included the disclosures required by ASU 2014-09 above. 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) | 3 Months Ended |
Mar. 31, 2017 | |
Investments [Abstract] | |
Investments [Text Block] | Investments A summary of short-term and long-term investments by major security type is as follows: (in millions) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value March 31, 2017 Debt securities - available-for-sale: U.S. government and agency obligations $ 2,529 $ 2 $ (28 ) $ 2,503 State and municipal obligations 7,020 64 (64 ) 7,020 Corporate obligations 11,879 48 (46 ) 11,881 U.S. agency mortgage-backed securities 3,345 7 (44 ) 3,308 Non-U.S. agency mortgage-backed securities 999 2 (10 ) 991 Total debt securities - available-for-sale 25,772 123 (192 ) 25,703 Equity securities 2,120 43 (42 ) 2,121 Debt securities - held-to-maturity: U.S. government and agency obligations 259 1 — 260 State and municipal obligations 5 — — 5 Corporate obligations 288 — — 288 Total debt securities - held-to-maturity 552 1 — 553 Total investments $ 28,444 $ 167 $ (234 ) $ 28,377 December 31, 2016 Debt securities - available-for-sale: U.S. government and agency obligations $ 2,294 $ 1 $ (31 ) $ 2,264 State and municipal obligations 7,120 40 (101 ) 7,059 Corporate obligations 10,944 41 (58 ) 10,927 U.S. agency mortgage-backed securities 2,963 7 (43 ) 2,927 Non-U.S. agency mortgage-backed securities 1,009 3 (10 ) 1,002 Total debt securities - available-for-sale 24,330 92 (243 ) 24,179 Equity securities 2,036 52 (47 ) 2,041 Debt securities - held-to-maturity: U.S. government and agency obligations 250 1 — 251 State and municipal obligations 5 — — 5 Corporate obligations 238 — — 238 Total debt securities - held-to-maturity 493 1 — 494 Total investments $ 26,859 $ 145 $ (290 ) $ 26,714 The amortized cost and fair value of debt securities as of March 31, 2017 , by contractual maturity, were as follows: Available-for-Sale Held-to-Maturity (in millions) Amortized Cost Fair Value Amortized Fair Due in one year or less $ 3,291 $ 3,293 $ 191 $ 191 Due after one year through five years 10,041 10,049 111 111 Due after five years through ten years 6,090 6,069 120 120 Due after ten years 2,006 1,993 130 131 U.S. agency mortgage-backed securities 3,345 3,308 — — Non-U.S. agency mortgage-backed securities 999 991 — — Total debt securities $ 25,772 $ 25,703 $ 552 $ 553 The fair value of available-for-sale investments with gross unrealized losses by major security type and length of time that individual securities have been in a continuous unrealized loss position were as follows: Less Than 12 Months 12 Months or Greater Total (in millions) Fair Value Gross Unrealized Losses Fair Value Gross Fair Value Gross March 31, 2017 Debt securities - available-for-sale: U.S. government and agency obligations $ 2,077 $ (28 ) $ — $ — $ 2,077 $ (28 ) State and municipal obligations 3,187 (64 ) — — 3,187 (64 ) Corporate obligations 4,567 (44 ) 81 (2 ) 4,648 (46 ) U.S. agency mortgage-backed securities 2,406 (41 ) 76 (3 ) 2,482 (44 ) Non-U.S. agency mortgage-backed securities 616 (8 ) 47 (2 ) 663 (10 ) Total debt securities - available-for-sale $ 12,853 $ (185 ) $ 204 $ (7 ) $ 13,057 $ (192 ) Equity securities $ 75 $ (4 ) $ 101 $ (38 ) $ 176 $ (42 ) December 31, 2016 Debt securities - available-for-sale: U.S. government and agency obligations $ 1,794 $ (31 ) $ — $ — $ 1,794 $ (31 ) State and municipal obligations 4,376 (101 ) — — 4,376 (101 ) Corporate obligations 5,128 (56 ) 137 (2 ) 5,265 (58 ) U.S. agency mortgage-backed securities 2,247 (40 ) 79 (3 ) 2,326 (43 ) Non-U.S. agency mortgage-backed securities 544 (7 ) 97 (3 ) 641 (10 ) Total debt securities - available-for-sale $ 14,089 $ (235 ) $ 313 $ (8 ) $ 14,402 $ (243 ) Equity securities $ 93 $ (5 ) $ 91 $ (42 ) $ 184 $ (47 ) The Company’s unrealized losses from all securities as of March 31, 2017 were generated from more than 10,000 positions out of a total of 27,000 positions. The Company believes that it will collect the principal and interest due on its debt securities that have an amortized cost in excess of fair value. The unrealized losses were primarily caused by interest rate increases and not by unfavorable changes in the credit quality associated with these securities. At each reporting period, the Company evaluates securities for impairment when the fair value of the investment is less than its amortized cost. The Company evaluated the underlying credit quality and credit ratings of the issuers, noting no significant deterioration since purchase. As of March 31, 2017 , the Company did not have the intent to sell any of the securities in an unrealized loss position. Therefore, the Company believes these losses to be temporary. The Company’s investments in equity securities consist of investments in Brazilian real denominated fixed-income funds, employee savings plan related investments, venture capital funds, and dividend paying stocks. The Company evaluated its investments in equity securities for severity and duration of unrealized loss, overall market volatility and other market factors. Additionally, as of March 31, 2017 , the Company’s investments included $594 million in equity method investments that were obtained as part of a 2017 acquisition. |
Fair Value (Notes)
Fair Value (Notes) | 3 Months Ended |
Mar. 31, 2017 | |
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” in the 2016 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 in Active Markets (Level 1) Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) Total Fair and Carrying Value March 31, 2017 Cash and cash equivalents $ 16,101 $ 41 $ — $ 16,142 Debt securities - available-for-sale: U.S. government and agency obligations 2,220 283 — 2,503 State and municipal obligations — 7,020 — 7,020 Corporate obligations 26 11,744 111 11,881 U.S. agency mortgage-backed securities — 3,308 — 3,308 Non-U.S. agency mortgage-backed securities — 991 — 991 Total debt securities - available-for-sale 2,246 23,346 111 25,703 Equity securities 1,666 12 443 2,121 Assets under management 888 1,998 — 2,886 Interest rate swap assets — 45 — 45 Total assets at fair value $ 20,901 $ 25,442 $ 554 $ 46,897 Percentage of total assets at fair value 45 % 54 % 1 % 100 % Interest rate swap liabilities $ — $ 19 $ — $ 19 December 31, 2016 Cash and cash equivalents $ 10,386 $ 44 $ — $ 10,430 Debt securities - available-for-sale: U.S. government and agency obligations 2,017 247 — 2,264 State and municipal obligations — 7,059 — 7,059 Corporate obligations 21 10,804 102 10,927 U.S. agency mortgage-backed securities — 2,927 — 2,927 Non-U.S. agency mortgage-backed securities — 1,002 — 1,002 Total debt securities - available-for-sale 2,038 22,039 102 24,179 Equity securities 1,591 13 437 2,041 Assets under management 1,064 2,041 — 3,105 Interest rate swap assets — 55 — 55 Total assets at fair value $ 15,079 $ 24,192 $ 539 $ 39,810 Percentage of total assets at fair value 38 % 61 % 1 % 100 % Interest rate swap liabilities $ — $ 14 $ — $ 14 Transfers between levels, if any, are recorded as of the beginning of the reporting period in which the transfer occurs; there were no transfers between Levels 1, 2 or 3 of any financial assets or liabilities during the three months ended March 31, 2017 or 2016 . The following table presents a summary of fair value measurements by level and carrying values for certain financial instruments not measured at fair value on a recurring basis in the Condensed Consolidated Balance Sheets: (in millions) Quoted Prices in Active Markets (Level 1) Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) Total Fair Value Total Carrying Value March 31, 2017 Debt securities - held-to-maturity: U.S. government and agency obligations $ 257 $ 3 $ — $ 260 $ 259 State and municipal obligations — — 5 5 5 Corporate obligations 18 2 268 288 288 Total debt securities - held-to-maturity $ 275 $ 5 $ 273 $ 553 $ 552 Other assets $ — $ 468 $ — $ 468 $ 465 Long-term debt and other financing obligations $ — $ 32,489 $ — $ 32,489 $ 30,399 December 31, 2016 Debt securities - held-to-maturity: U.S. government and agency obligations $ 251 $ — $ — $ 251 $ 250 State and municipal obligations — — 5 5 5 Corporate obligations 20 8 210 238 238 Total debt securities - held-to-maturity $ 271 $ 8 $ 215 $ 494 $ 493 Other assets $ — $ 476 $ — $ 476 $ 471 Long-term debt and other financing obligations $ — $ 31,295 $ — $ 31,295 $ 29,337 Nonfinancial assets and liabilities or financial assets and liabilities that are measured at fair value on a nonrecurring basis are subject to fair value adjustments only in certain circumstances, such as when the Company records an impairment. There were no significant fair value adjustments for these assets and liabilities recorded during the three months ended March 31, 2017 or 2016 . |
Other Current Receivables (Note
Other Current Receivables (Notes) | 3 Months Ended |
Mar. 31, 2017 | |
Other Current Receivables [Line Items] | |
Other Current Receivables [Text Block] | Other Current Receivables The Company’s pharmacy care services businesses contract with pharmaceutical manufacturers, some of which provide rebates based on use of the manufacturers’ products by the Company’s clients. As of March 31, 2017 and December 31, 2016, total pharmaceutical manufacturer rebates receivable included in other receivables in the Condensed Consolidated Balance Sheets amounted to $4.0 billion and $3.3 billion , respectively. See Note 2 of Notes to the Consolidated Financial Statements in Part II, Item 8, “Financial Statements” in the 2016 10-K for more information on the Company’s pharmaceutical manufacturer rebates. |
Medical Costs Payable (Notes)
Medical Costs Payable (Notes) | 3 Months Ended |
Mar. 31, 2017 | |
Medical Costs Payable Text Block | Medical Costs Payable The following table shows the components of the change in medical costs payable for the three months ended March 31: (in millions) 2017 2016 Medical costs payable, beginning of period $ 16,391 $ 14,330 Acquisitions 76 — Reported medical costs: Current year 32,529 28,790 Prior years (450 ) (360 ) Total reported medical costs 32,079 28,430 Medical payments: Payments for current year (18,742 ) (15,797 ) Payments for prior years (12,154 ) (11,140 ) Total medical payments (30,896 ) (26,937 ) Medical costs payable, end of period $ 17,650 $ 15,823 For the three months ended March 31, 2017 and 2016 the medical cost reserve development included no individual factors that were material. Medical costs payable included reserves for claims incurred by insured customers but not yet reported to the Company of $12.5 billion and $11.6 billion at March 31, 2017 and December 31, 2016, respectively. |
Commercial Paper and Long-Term
Commercial Paper and Long-Term Debt (Notes) | 3 Months Ended |
Mar. 31, 2017 | |
Debt Disclosure [Abstract] | |
Commercial Paper and Long-Term Debt [Text Block] | Commercial Paper and Long-Term Debt Commercial paper and senior unsecured long-term debt consisted of the following: March 31, 2017 December 31, 2016 (in millions, except percentages) Par Carrying Value Fair Value Par Value Carrying Fair Value Commercial paper $ 3,502 $ 3,502 $ 3,502 $ 3,633 $ 3,633 $ 3,633 Floating rate notes due January 2017 — — — 750 750 750 6.000% notes due June 2017 441 443 445 441 446 450 1.450% notes due July 2017 750 750 751 750 750 751 1.400% notes due October 2017 625 625 625 625 624 626 6.000% notes due November 2017 156 158 161 156 159 163 1.400% notes due December 2017 750 750 750 750 751 750 6.000% notes due February 2018 1,100 1,106 1,142 1,100 1,107 1,153 1.900% notes due July 2018 1,500 1,497 1,507 1,500 1,496 1,507 1.700% notes due February 2019 750 748 750 750 748 748 1.625% notes due March 2019 500 501 498 500 501 498 2.300% notes due December 2019 500 497 505 500 498 504 2.700% notes due July 2020 1,500 1,495 1,530 1,500 1,495 1,523 3.875% notes due October 2020 450 449 475 450 450 474 4.700% notes due February 2021 400 407 433 400 409 433 2.125% notes due March 2021 750 746 744 750 745 741 3.375% notes due November 2021 500 496 520 500 497 519 2.875% notes due December 2021 750 746 765 750 748 760 2.875% notes due March 2022 1,100 1,056 1,122 1,100 1,057 1,114 3.350% notes due July 2022 1,000 995 1,035 1,000 995 1,030 0.000% notes due November 2022 15 11 12 15 11 12 2.750% notes due February 2023 625 608 623 625 609 622 2.875% notes due March 2023 750 768 752 750 771 753 3.750% notes due July 2025 2,000 1,986 2,089 2,000 1,986 2,070 3.100% notes due March 2026 1,000 994 992 1,000 994 986 3.450% notes due January 2027 750 745 761 750 745 762 3.375% notes due April 2027 625 618 629 — — — 4.625% notes due July 2035 1,000 991 1,090 1,000 991 1,090 5.800% notes due March 2036 850 837 1,048 850 837 1,034 6.500% notes due June 2037 500 491 655 500 491 643 6.625% notes due November 2037 650 640 865 650 640 850 6.875% notes due February 2038 1,100 1,075 1,495 1,100 1,075 1,497 5.700% notes due October 2040 300 296 365 300 296 366 5.950% notes due February 2041 350 345 441 350 345 437 4.625% notes due November 2041 600 588 637 600 588 634 4.375% notes due March 2042 502 483 520 502 483 509 3.950% notes due October 2042 625 606 608 625 606 609 4.250% notes due March 2043 750 734 764 750 734 765 4.750% notes due July 2045 2,000 1,972 2,192 2,000 1,972 2,203 4.200% notes due January 2047 750 738 762 750 737 759 4.250% notes due April 2047 725 717 740 — — — Total commercial paper and long-term debt $ 33,491 $ 33,210 $ 35,300 $ 33,022 $ 32,770 $ 34,728 During the first quarter of 2017, the Company assumed $926 million in debt of an acquired company, of which $642 million was repaid in the first quarter. The Company repaid the remainder of the acquired debt in the second quarter of 2017. The Company’s long-term debt obligations also included $407 million and $200 million of other financing obligations, of which $129 million and $80 million were classified as current as of March 31, 2017 and December 31, 2016 , respectively. Commercial Paper and Bank Credit Facilities Commercial paper consists of short-duration, senior unsecured debt privately placed on a discount basis through broker-dealers. As of March 31, 2017 , the Company’s outstanding commercial paper had a weighted-average annual interest rate of 1.1% . The Company has $3.0 billion five-year, $2.0 billion three-year and $1.0 billion 364-day revolving bank credit facilities with 23 banks, which mature in December 2021 , December 2019 and December 2017, respectively. These facilities provide liquidity support for the Company’s commercial paper program and are available for general corporate purposes. As of March 31, 2017 , no amounts had been drawn on any of the bank credit facilities. The annual interest rates, which are variable based on term, are calculated based on the London Interbank Offered Rate (LIBOR) plus a credit spread based on the Company’s senior unsecured credit ratings. If amounts had been drawn on the bank credit facilities as of March 31, 2017 , annual interest rates would have ranged from 1.8% to 2.3% . Debt Covenants The Company’s bank credit facilities contain various covenants, including covenants requiring the Company to maintain a defined debt to debt-plus-shareholders’ equity ratio of not more than 55% . The Company was in compliance with its debt covenants as of March 31, 2017 . |
Commitments and Contingencies (
Commitments and Contingencies (Notes) | 3 Months Ended |
Mar. 31, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies Disclosure [Text Block] | Commitments and Contingencies Legal Matters Because of the nature of its businesses, the Company is frequently made party to a variety of legal actions and regulatory inquiries, including class actions and suits brought by members, care providers, consumer advocacy organizations, customers and regulators, relating to the Company’s businesses, including management and administration of health benefit plans and other services. These matters include medical malpractice, employment, intellectual property, antitrust, privacy and contract claims and claims related to health care benefits coverage and other business practices. The Company records liabilities for its estimates of probable costs resulting from these matters where appropriate. Estimates of costs resulting from legal and regulatory matters involving the Company are inherently difficult to predict, particularly where the matters: involve indeterminate claims for monetary damages or may involve fines, penalties or punitive damages; present novel legal theories or represent a shift in regulatory policy; involve a large number of claimants or regulatory bodies; are in the early stages of the proceedings; or could result in a change in business practices. Accordingly, the Company is often unable to estimate the losses or ranges of losses for those matters where there is a reasonable possibility or it is probable that a loss may be incurred. Litigation Matters California Claims Processing Matter. On January 25, 2008, the California Department of Insurance (CDI) issued an Order to Show Cause to PacifiCare Life and Health Insurance Company, a subsidiary of the Company, alleging violations of certain insurance statutes and regulations related to an alleged failure to include certain language in standard claims correspondence, timeliness and accuracy of claims processing, interest payments, care provider contract implementation, care provider dispute resolution and other related matters. Although the Company believes that CDI had never before issued a fine in excess of $8 million , CDI advocated a fine of approximately $325 million in this matter. The matter was the subject of an administrative hearing before a California administrative law judge beginning in December 2009, and in August 2013, the administrative law judge issued a nonbinding proposed decision recommending a fine of $11.5 million . The California Insurance Commissioner rejected the administrative law judge’s recommendation and on June 9, 2014, issued his own decision imposing a fine of approximately $174 million . On July 10, 2014, the Company filed a lawsuit in California state court challenging the Commissioner’s decision. On September 8, 2015, in the first phase of that lawsuit, the California state court issued an order invalidating certain of the regulations the Commissioner had relied upon in issuing his decision and penalty. In March 2017, the court entered a tentative ruling reversing all of the penalties imposed and remanding certain further issues to the Commissioner. A final order is expected later this year. The Company cannot reasonably estimate the range of loss, if any, that may result from this matter given the procedural status of the dispute, the wide range of possible outcomes, the legal issues presented (including the legal basis for the majority of the alleged violations), the inherent difficulty in predicting a regulatory fine in the event of a remand, and the various remedies and levels of judicial review that remain available to the Company. Government Investigations, Audits and Reviews The Company has been involved or is currently involved in various governmental investigations, audits and reviews. These include routine, regular and special investigations, audits and reviews by the CMS, state insurance and health and welfare departments, the Brazilian national regulatory agency for private health insurance and plans (the Agência Nacional de Saúde Suplementar), state attorneys general, the Office of the Inspector General, the Office of Personnel Management, the Office of Civil Rights, the Government Accountability Office, the Federal Trade Commission, U.S. Congressional committees, the U.S. Department of Justice, the SEC, the Internal Revenue Service, the U.S. Drug Enforcement Administration, the Brazilian federal revenue service (the Secretaria da Receita Federal), the U.S. Department of Labor, the Federal Deposit Insurance Corporation, the Defense Contract Audit Agency and other governmental authorities. Certain of the Company’s businesses have been reviewed or are currently under review, including for, among other matters, compliance with coding and other requirements under the Medicare risk-adjustment model. CMS has selected certain of the Company’s local plans for risk adjustment data validation (RADV) audits to validate the coding practices of and supporting documentation maintained by health care providers and such audits may result in retrospective adjustments to payments made to the Company’s health plans. On February 14, 2017, the Department of Justice (DOJ) announced its decision to pursue certain claims within a lawsuit initially asserted against the Company and filed under seal by a whistleblower in 2011. The whistleblower’s complaint, which was unsealed on February 15, 2017, alleges that the Company, along with a number of other Medicare Advantage plans, made improper risk adjustment submissions and violated the False Claims Act. On March 24, 2017, DOJ intervened in a separate lawsuit initially asserted against the Company and filed by a whistleblower in 2009 concerning risk adjustment submissions by Medicare Advantage plans. Both cases are now pending in the U.S. District Court for the Central District of California. DOJ filed its complaint in one case on May 1, 2017, and has been ordered to file its complaint in the other case by May 16, 2017. The Company cannot reasonably estimate the outcome that may result from these matters given their current posture. |
Segment Financial Information (
Segment Financial Information (Notes) | 3 Months Ended |
Mar. 31, 2017 | |
Segment Reporting [Abstract] | |
Segment Financial Information [Text Block] | Segment Financial Information The Company’s four reportable segments are UnitedHealthcare, OptumHealth, OptumInsight and OptumRx . For more information on the Company’s segments see Part I, Item I, “Business” and Note 13 of Notes to the Consolidated Financial Statements in Part II, Item 8, “Financial Statements” in the 2016 10-K. As of March 31, 2017, OptumHealth’s total assets were $24.7 billion as compared to $18.7 billion as of December 31, 2016. The increase was due to an acquisition completed during the three months ended March 31, 2017. Goodwill at the OptumHealth reportable segment increased during the first quarter of 2017 by $4.6 billion . The following tables present reportable segment financial information: Optum (in millions) UnitedHealthcare OptumHealth OptumInsight OptumRx Optum Eliminations Optum Corporate and Eliminations Consolidated Three Months Ended March 31, 2017 Revenues - external customers: Premiums $ 38,053 $ 885 $ — $ — $ — $ 885 $ — $ 38,938 Products — 12 21 6,096 — 6,129 — 6,129 Services 1,922 721 642 149 — 1,512 — 3,434 Total revenues - external customers 39,975 1,618 663 6,245 — 8,526 — 48,501 Total revenues - intersegment — 3,059 1,179 8,698 (286 ) 12,650 (12,650 ) — Investment and other income 161 56 1 4 — 61 — 222 Total revenues $ 40,136 $ 4,733 $ 1,843 $ 14,947 $ (286 ) $ 21,237 $ (12,650 ) $ 48,723 Earnings from operations $ 2,134 $ 332 $ 294 $ 653 $ — $ 1,279 $ — $ 3,413 Interest expense — — — — — — (283 ) (283 ) Earnings before income taxes $ 2,134 $ 332 $ 294 $ 653 $ — $ 1,279 $ (283 ) $ 3,130 Three Months Ended March 31, 2016 Revenues - external customers: Premiums $ 33,963 $ 848 $ — $ — $ — $ 848 $ — $ 34,811 Products — 13 20 6,360 — 6,393 — 6,393 Services 1,796 612 606 126 — 1,344 — 3,140 Total revenues - external customers 35,759 1,473 626 6,486 — 8,585 — 44,344 Total revenues - intersegment — 2,485 1,041 7,785 (254 ) 11,057 (11,057 ) — Investment and other income 141 40 — 2 — 42 — 183 Total revenues $ 35,900 $ 3,998 $ 1,667 $ 14,273 $ (254 ) $ 19,684 $ (11,057 ) $ 44,527 Earnings from operations $ 1,854 $ 300 $ 246 $ 560 $ — $ 1,106 $ — $ 2,960 Interest expense — — — — — — (259 ) (259 ) Earnings before income taxes $ 1,854 $ 300 $ 246 $ 560 $ — $ 1,106 $ (259 ) $ 2,701 |
Basis of Presentation (Policies
Basis of Presentation (Policies) | 3 Months Ended |
Mar. 31, 2017 | |
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” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016 as filed with the SEC ( 2016 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 relate to estimates and judgments for medical costs payable and revenues, valuation and impairment analysis of goodwill and other intangible assets and valuations of certain investments. Certain of these estimates require the application of complex assumptions and judgments, often because they involve matters that are inherently uncertain and will likely change in subsequent periods. The impact of any change in estimates is included in earnings in the period in which the estimate is adjusted. |
Revenue Recognition, Policy [Policy Text Block] | Revenues The Company’s revenues include premium, product, and service revenues. Service revenues include net patient service revenues that are recorded based upon established billing rates, less allowances for contractual adjustments, and are recognized as services are provided. For more information about the Company’s revenues, see Notes 2 and 13 of Notes to the Consolidated Financial Statements in Part II, Item 8, “Financial Statements” in the 2016 10-K. See Note 8 for disaggregation of revenue by segment and type. As of March 31, 2017, accounts receivables related to products and services were $3.3 billion . For the three months ended March 31, 2017, the Company had no material bad-debt expense and there were no material contract assets, contract liabilities or deferred contract costs recorded on the Condensed Consolidated Balance Sheet as of March 31, 2017. For the three months ended March 31, 2017, revenue recognized from performance obligations related to prior periods (for example, due to changes in transaction price), was not material. Revenue expected to be recognized in any future year related to remaining performance obligations, excluding revenue pertaining to contracts that have an original expected duration of one year or less, contracts where revenue is recognized as invoiced and contracts with variable consideration related to undelivered performance obligations, is not material. |
Health Insurance Industry Tax, Accounting Policy [Policy Text Block] | Health Insurance Industry Tax The Patient Protection and Affordable Care Act (ACA) included an annual, nondeductible insurance industry tax (Health Insurance Industry Tax) to be levied proportionally across the insurance industry for risk-based health insurance products. A provision in the 2016 Federal Budget imposed a one year moratorium for 2017 on the collection of the Health Insurance Industry Tax. The Company has experienced a lower effective income tax rate in 2017 as compared to 2016 primarily due to the moratorium. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Issued Accounting Standards In February 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standard Update (ASU) No. 2016-02, “Leases (Topic 842)” (ASU 2016-02). Under ASU 2016-02, an entity will be required to recognize assets and liabilities for the rights and obligations created by leases on the entity’s balance sheet for both finance and operating leases. For leases with a term of 12 months or less, an entity can elect to not recognize lease assets and lease liabilities and expense the lease over a straight-line basis for the term of the lease. ASU 2016-02 will require new disclosures that depict the amount, timing, and uncertainty of cash flows pertaining to an entity’s leases. Companies are required to adopt the new standard using a modified retrospective approach for annual and interim periods beginning after December 15, 2018. Early adoption of ASU 2016-02 is permitted. When adopted, the Company does not expect ASU 2016-02 to have a material impact on its results of operations, equity or cash flows. The impact of ASU 2016-02 on the Company’s consolidated financial position will be based on leases outstanding at the time of adoption. In January 2016, the FASB issued ASU 2016-01, “Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities” (ASU 2016-01). The new guidance changes the current accounting related to (i) the classification and measurement of certain equity investments, (ii) the presentation of changes in the fair value of financial liabilities measured under the fair value option that are due to instrument-specific credit risk, and (iii) certain disclosures associated with the fair value of financial instruments. Most notably, ASU 2016-01 requires that equity investments, with certain exemptions, be measured at fair value with changes in fair value recognized in net income as opposed to other comprehensive income. The new guidance is effective for annual and interim reporting periods beginning after December 15, 2017. As of March 31, 2017, based on equity securities held, the Company does not expect ASU 2016-01 to have a material impact on its consolidated financial position, results of operations, equity or cash flows. The Company will continue to evaluate any changes in its mix of investments or market conditions and the related impact of ASU 2016-01. Recently Adopted Accounting Standards In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606)” as modified by subsequently issued ASUs 2015-14, 2016-08, 2016-10, 2016-12 and 2016-20 (collectively ASU 2014-09). ASU 2014-09 superseded existing revenue recognition standards with a single model unless those contracts are within the scope of other standards (e.g., an insurance entity’s insurance contracts). The revenue recognition principle in ASU 2014-09 is that an entity should recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The Company early adopted the new standard effective January 1, 2017, as allowed, using the modified retrospective approach. A significant majority of the Company’s revenues are not subject to the new guidance. The adoption of ASU 2014-09 did not have a material impact on the Company’s consolidated financial position, results of operations, equity or cash flows as of the adoption date or for the three months ended March 31, 2017. The Company has included the disclosures required by ASU 2014-09 above. 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 Investments (Polici
Investments Investments (Policies) | 3 Months Ended |
Mar. 31, 2017 | |
Investment [Line Items] | |
Investment, Policy [Policy Text Block] | At each reporting period, the Company evaluates securities for impairment when the fair value of the investment is less than its amortized cost. The Company evaluated the underlying credit quality and credit ratings of the issuers, noting no significant deterioration since purchase. As of March 31, 2017 , the Company did not have the intent to sell any of the securities in an unrealized loss position. Therefore, the Company believes these losses to be temporary |
Investments (Tables)
Investments (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Short-Term and Long-Term Investments [Table Text Block] | A summary of short-term and long-term investments by major security type is as follows: (in millions) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value March 31, 2017 Debt securities - available-for-sale: U.S. government and agency obligations $ 2,529 $ 2 $ (28 ) $ 2,503 State and municipal obligations 7,020 64 (64 ) 7,020 Corporate obligations 11,879 48 (46 ) 11,881 U.S. agency mortgage-backed securities 3,345 7 (44 ) 3,308 Non-U.S. agency mortgage-backed securities 999 2 (10 ) 991 Total debt securities - available-for-sale 25,772 123 (192 ) 25,703 Equity securities 2,120 43 (42 ) 2,121 Debt securities - held-to-maturity: U.S. government and agency obligations 259 1 — 260 State and municipal obligations 5 — — 5 Corporate obligations 288 — — 288 Total debt securities - held-to-maturity 552 1 — 553 Total investments $ 28,444 $ 167 $ (234 ) $ 28,377 December 31, 2016 Debt securities - available-for-sale: U.S. government and agency obligations $ 2,294 $ 1 $ (31 ) $ 2,264 State and municipal obligations 7,120 40 (101 ) 7,059 Corporate obligations 10,944 41 (58 ) 10,927 U.S. agency mortgage-backed securities 2,963 7 (43 ) 2,927 Non-U.S. agency mortgage-backed securities 1,009 3 (10 ) 1,002 Total debt securities - available-for-sale 24,330 92 (243 ) 24,179 Equity securities 2,036 52 (47 ) 2,041 Debt securities - held-to-maturity: U.S. government and agency obligations 250 1 — 251 State and municipal obligations 5 — — 5 Corporate obligations 238 — — 238 Total debt securities - held-to-maturity 493 1 — 494 Total investments $ 26,859 $ 145 $ (290 ) $ 26,714 |
Investments by Contractual Maturity [Table Text Block] | The amortized cost and fair value of debt securities as of March 31, 2017 , by contractual maturity, were as follows: Available-for-Sale Held-to-Maturity (in millions) Amortized Cost Fair Value Amortized Fair Due in one year or less $ 3,291 $ 3,293 $ 191 $ 191 Due after one year through five years 10,041 10,049 111 111 Due after five years through ten years 6,090 6,069 120 120 Due after ten years 2,006 1,993 130 131 U.S. agency mortgage-backed securities 3,345 3,308 — — Non-U.S. agency mortgage-backed securities 999 991 — — Total debt securities $ 25,772 $ 25,703 $ 552 $ 553 |
Fair Value of Available-for-Sale Investments with Gross Unrealized Losses by Investment Type and Length of Time that Individual Securities have been in a Continuous Unrealized Loss Position [Table Text Block] | The fair value of available-for-sale investments with gross unrealized losses by major security type and length of time that individual securities have been in a continuous unrealized loss position were as follows: Less Than 12 Months 12 Months or Greater Total (in millions) Fair Value Gross Unrealized Losses Fair Value Gross Fair Value Gross March 31, 2017 Debt securities - available-for-sale: U.S. government and agency obligations $ 2,077 $ (28 ) $ — $ — $ 2,077 $ (28 ) State and municipal obligations 3,187 (64 ) — — 3,187 (64 ) Corporate obligations 4,567 (44 ) 81 (2 ) 4,648 (46 ) U.S. agency mortgage-backed securities 2,406 (41 ) 76 (3 ) 2,482 (44 ) Non-U.S. agency mortgage-backed securities 616 (8 ) 47 (2 ) 663 (10 ) Total debt securities - available-for-sale $ 12,853 $ (185 ) $ 204 $ (7 ) $ 13,057 $ (192 ) Equity securities $ 75 $ (4 ) $ 101 $ (38 ) $ 176 $ (42 ) December 31, 2016 Debt securities - available-for-sale: U.S. government and agency obligations $ 1,794 $ (31 ) $ — $ — $ 1,794 $ (31 ) State and municipal obligations 4,376 (101 ) — — 4,376 (101 ) Corporate obligations 5,128 (56 ) 137 (2 ) 5,265 (58 ) U.S. agency mortgage-backed securities 2,247 (40 ) 79 (3 ) 2,326 (43 ) Non-U.S. agency mortgage-backed securities 544 (7 ) 97 (3 ) 641 (10 ) Total debt securities - available-for-sale $ 14,089 $ (235 ) $ 313 $ (8 ) $ 14,402 $ (243 ) Equity securities $ 93 $ (5 ) $ 91 $ (42 ) $ 184 $ (47 ) |
Fair Value (Tables)
Fair Value (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | The following table presents a summary of fair value measurements by level and carrying values for items measured at fair value on a recurring basis in the Condensed Consolidated Balance Sheets: (in millions) Quoted Prices in Active Markets (Level 1) Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) Total Fair and Carrying Value March 31, 2017 Cash and cash equivalents $ 16,101 $ 41 $ — $ 16,142 Debt securities - available-for-sale: U.S. government and agency obligations 2,220 283 — 2,503 State and municipal obligations — 7,020 — 7,020 Corporate obligations 26 11,744 111 11,881 U.S. agency mortgage-backed securities — 3,308 — 3,308 Non-U.S. agency mortgage-backed securities — 991 — 991 Total debt securities - available-for-sale 2,246 23,346 111 25,703 Equity securities 1,666 12 443 2,121 Assets under management 888 1,998 — 2,886 Interest rate swap assets — 45 — 45 Total assets at fair value $ 20,901 $ 25,442 $ 554 $ 46,897 Percentage of total assets at fair value 45 % 54 % 1 % 100 % Interest rate swap liabilities $ — $ 19 $ — $ 19 December 31, 2016 Cash and cash equivalents $ 10,386 $ 44 $ — $ 10,430 Debt securities - available-for-sale: U.S. government and agency obligations 2,017 247 — 2,264 State and municipal obligations — 7,059 — 7,059 Corporate obligations 21 10,804 102 10,927 U.S. agency mortgage-backed securities — 2,927 — 2,927 Non-U.S. agency mortgage-backed securities — 1,002 — 1,002 Total debt securities - available-for-sale 2,038 22,039 102 24,179 Equity securities 1,591 13 437 2,041 Assets under management 1,064 2,041 — 3,105 Interest rate swap assets — 55 — 55 Total assets at fair value $ 15,079 $ 24,192 $ 539 $ 39,810 Percentage of total assets at fair value 38 % 61 % 1 % 100 % Interest rate swap liabilities $ — $ 14 $ — $ 14 |
Fair Value Measurements, Nonrecurring [Table Text Block] | The following table presents a summary of fair value measurements by level and carrying values for certain financial instruments not measured at fair value on a recurring basis in the Condensed Consolidated Balance Sheets: (in millions) Quoted Prices in Active Markets (Level 1) Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) Total Fair Value Total Carrying Value March 31, 2017 Debt securities - held-to-maturity: U.S. government and agency obligations $ 257 $ 3 $ — $ 260 $ 259 State and municipal obligations — — 5 5 5 Corporate obligations 18 2 268 288 288 Total debt securities - held-to-maturity $ 275 $ 5 $ 273 $ 553 $ 552 Other assets $ — $ 468 $ — $ 468 $ 465 Long-term debt and other financing obligations $ — $ 32,489 $ — $ 32,489 $ 30,399 December 31, 2016 Debt securities - held-to-maturity: U.S. government and agency obligations $ 251 $ — $ — $ 251 $ 250 State and municipal obligations — — 5 5 5 Corporate obligations 20 8 210 238 238 Total debt securities - held-to-maturity $ 271 $ 8 $ 215 $ 494 $ 493 Other assets $ — $ 476 $ — $ 476 $ 471 Long-term debt and other financing obligations $ — $ 31,295 $ — $ 31,295 $ 29,337 |
Medical Costs Payable (Tables)
Medical Costs Payable (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Insurance [Abstract] | |
Schedule of Liability for Unpaid Claims and Claims Adjustment Expense [Table Text Block] | The following table shows the components of the change in medical costs payable for the three months ended March 31: (in millions) 2017 2016 Medical costs payable, beginning of period $ 16,391 $ 14,330 Acquisitions 76 — Reported medical costs: Current year 32,529 28,790 Prior years (450 ) (360 ) Total reported medical costs 32,079 28,430 Medical payments: Payments for current year (18,742 ) (15,797 ) Payments for prior years (12,154 ) (11,140 ) Total medical payments (30,896 ) (26,937 ) Medical costs payable, end of period $ 17,650 $ 15,823 |
Commercial Paper and Long-Ter21
Commercial Paper and Long-Term Debt (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Debt Instrument [Line Items] | |
Commercial Paper and Long-Term Debt [Table Text Block] | Commercial paper and senior unsecured long-term debt consisted of the following: March 31, 2017 December 31, 2016 (in millions, except percentages) Par Carrying Value Fair Value Par Value Carrying Fair Value Commercial paper $ 3,502 $ 3,502 $ 3,502 $ 3,633 $ 3,633 $ 3,633 Floating rate notes due January 2017 — — — 750 750 750 6.000% notes due June 2017 441 443 445 441 446 450 1.450% notes due July 2017 750 750 751 750 750 751 1.400% notes due October 2017 625 625 625 625 624 626 6.000% notes due November 2017 156 158 161 156 159 163 1.400% notes due December 2017 750 750 750 750 751 750 6.000% notes due February 2018 1,100 1,106 1,142 1,100 1,107 1,153 1.900% notes due July 2018 1,500 1,497 1,507 1,500 1,496 1,507 1.700% notes due February 2019 750 748 750 750 748 748 1.625% notes due March 2019 500 501 498 500 501 498 2.300% notes due December 2019 500 497 505 500 498 504 2.700% notes due July 2020 1,500 1,495 1,530 1,500 1,495 1,523 3.875% notes due October 2020 450 449 475 450 450 474 4.700% notes due February 2021 400 407 433 400 409 433 2.125% notes due March 2021 750 746 744 750 745 741 3.375% notes due November 2021 500 496 520 500 497 519 2.875% notes due December 2021 750 746 765 750 748 760 2.875% notes due March 2022 1,100 1,056 1,122 1,100 1,057 1,114 3.350% notes due July 2022 1,000 995 1,035 1,000 995 1,030 0.000% notes due November 2022 15 11 12 15 11 12 2.750% notes due February 2023 625 608 623 625 609 622 2.875% notes due March 2023 750 768 752 750 771 753 3.750% notes due July 2025 2,000 1,986 2,089 2,000 1,986 2,070 3.100% notes due March 2026 1,000 994 992 1,000 994 986 3.450% notes due January 2027 750 745 761 750 745 762 3.375% notes due April 2027 625 618 629 — — — 4.625% notes due July 2035 1,000 991 1,090 1,000 991 1,090 5.800% notes due March 2036 850 837 1,048 850 837 1,034 6.500% notes due June 2037 500 491 655 500 491 643 6.625% notes due November 2037 650 640 865 650 640 850 6.875% notes due February 2038 1,100 1,075 1,495 1,100 1,075 1,497 5.700% notes due October 2040 300 296 365 300 296 366 5.950% notes due February 2041 350 345 441 350 345 437 4.625% notes due November 2041 600 588 637 600 588 634 4.375% notes due March 2042 502 483 520 502 483 509 3.950% notes due October 2042 625 606 608 625 606 609 4.250% notes due March 2043 750 734 764 750 734 765 4.750% notes due July 2045 2,000 1,972 2,192 2,000 1,972 2,203 4.200% notes due January 2047 750 738 762 750 737 759 4.250% notes due April 2047 725 717 740 — — — Total commercial paper and long-term debt $ 33,491 $ 33,210 $ 35,300 $ 33,022 $ 32,770 $ 34,728 |
Segment Financial Information22
Segment Financial Information (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Segment Reporting [Abstract] | |
Segment Financial Information [Table Text Block] | The following tables present reportable segment financial information: Optum (in millions) UnitedHealthcare OptumHealth OptumInsight OptumRx Optum Eliminations Optum Corporate and Eliminations Consolidated Three Months Ended March 31, 2017 Revenues - external customers: Premiums $ 38,053 $ 885 $ — $ — $ — $ 885 $ — $ 38,938 Products — 12 21 6,096 — 6,129 — 6,129 Services 1,922 721 642 149 — 1,512 — 3,434 Total revenues - external customers 39,975 1,618 663 6,245 — 8,526 — 48,501 Total revenues - intersegment — 3,059 1,179 8,698 (286 ) 12,650 (12,650 ) — Investment and other income 161 56 1 4 — 61 — 222 Total revenues $ 40,136 $ 4,733 $ 1,843 $ 14,947 $ (286 ) $ 21,237 $ (12,650 ) $ 48,723 Earnings from operations $ 2,134 $ 332 $ 294 $ 653 $ — $ 1,279 $ — $ 3,413 Interest expense — — — — — — (283 ) (283 ) Earnings before income taxes $ 2,134 $ 332 $ 294 $ 653 $ — $ 1,279 $ (283 ) $ 3,130 Three Months Ended March 31, 2016 Revenues - external customers: Premiums $ 33,963 $ 848 $ — $ — $ — $ 848 $ — $ 34,811 Products — 13 20 6,360 — 6,393 — 6,393 Services 1,796 612 606 126 — 1,344 — 3,140 Total revenues - external customers 35,759 1,473 626 6,486 — 8,585 — 44,344 Total revenues - intersegment — 2,485 1,041 7,785 (254 ) 11,057 (11,057 ) — Investment and other income 141 40 — 2 — 42 — 183 Total revenues $ 35,900 $ 3,998 $ 1,667 $ 14,273 $ (254 ) $ 19,684 $ (11,057 ) $ 44,527 Earnings from operations $ 1,854 $ 300 $ 246 $ 560 $ — $ 1,106 $ — $ 2,960 Interest expense — — — — — — (259 ) (259 ) Earnings before income taxes $ 1,854 $ 300 $ 246 $ 560 $ — $ 1,106 $ (259 ) $ 2,701 |
Basis of Presentation Basis of
Basis of Presentation Basis of Presentation, Uses of Estimates and Significant Accounting Policies (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2017 | Dec. 31, 2016 | |
Accounts Receivable, Net | $ 9,595 | $ 8,152 |
Accounting Standards Update 2014-09 [Member] | ||
New Accounting Pronouncement or Change in Accounting Principle, Description of Transition Method | Modified Retrospective | |
New Accounting Pronouncement, Transition Guidance Not Significant or Not Practical | Impact is not material | |
Products and Services [Domain] | ||
Accounts Receivable, Net | $ 3,300 |
Investments (Narrative) (Detail
Investments (Narrative) (Details) $ in Millions | Mar. 31, 2017USD ($)positions |
Investment [Line Items] | |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | positions | 10,000 |
Total number of security positions | 27,000 |
Equity Method Investments | $ | $ 594 |
Investments (Short-Term and Lon
Investments (Short-Term and Long-Term Investments) (Details) - USD ($) $ in Millions | Mar. 31, 2017 | Dec. 31, 2016 |
Schedule of Investments [Line Items] | ||
Available-for-sale Debt Securities, Amortized Cost Basis | $ 25,772 | $ 24,330 |
Securities, Available for sale Debt Securities, Gross Unrealized Gains | 123 | 92 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax | (192) | (243) |
Available-for-sale Securities, Debt Securities | 25,703 | 24,179 |
Equity Securities, Amortized Cost Basis | 2,120 | 2,036 |
Equity Securities, Gross Unrealized Gains | 43 | 52 |
Equity Securities, Gross Unrealized Losses | (42) | (47) |
Equity Securities, Fair Value | 2,121 | 2,041 |
Held-to-maturity securities, Amortized Cost | 552 | 493 |
Securities, Held to maturity, Unrecognized Holding Gain | 1 | 1 |
Held-to-maturity Securities, Accumulated Unrecognized Holding Loss | 0 | 0 |
Held-to-maturity Securities, Fair Value | 553 | 494 |
Total investments, Amortized Cost | 28,444 | 26,859 |
Total investments, Gross Unrealized Gains | 167 | 145 |
Total investments, Gross Unrealized Losses | (234) | (290) |
Investments, Fair Value Disclosure | 28,377 | 26,714 |
Debt Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Available-for-sale Securities, Debt Securities | 25,703 | 24,179 |
U.S. Government and Agency Obligations [Member] | ||
Schedule of Investments [Line Items] | ||
Available-for-sale Debt Securities, Amortized Cost Basis | 2,529 | 2,294 |
Securities, Available for sale Debt Securities, Gross Unrealized Gains | 2 | 1 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax | (28) | (31) |
Available-for-sale Securities, Debt Securities | 2,503 | 2,264 |
Held-to-maturity securities, Amortized Cost | 259 | 250 |
Securities, Held to maturity, Unrecognized Holding Gain | 1 | 1 |
Held-to-maturity Securities, Accumulated Unrecognized Holding Loss | 0 | 0 |
Held-to-maturity Securities, Fair Value | 260 | 251 |
State and Municipal Obligations [Member] | ||
Schedule of Investments [Line Items] | ||
Available-for-sale Debt Securities, Amortized Cost Basis | 7,020 | 7,120 |
Securities, Available for sale Debt Securities, Gross Unrealized Gains | 64 | 40 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax | (64) | (101) |
Available-for-sale Securities, Debt Securities | 7,020 | 7,059 |
Held-to-maturity securities, Amortized Cost | 5 | 5 |
Securities, Held to maturity, Unrecognized Holding Gain | 0 | 0 |
Held-to-maturity Securities, Accumulated Unrecognized Holding Loss | 0 | 0 |
Held-to-maturity Securities, Fair Value | 5 | 5 |
Corporate Obligations [Member] | ||
Schedule of Investments [Line Items] | ||
Available-for-sale Debt Securities, Amortized Cost Basis | 11,879 | 10,944 |
Securities, Available for sale Debt Securities, Gross Unrealized Gains | 48 | 41 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax | (46) | (58) |
Available-for-sale Securities, Debt Securities | 11,881 | 10,927 |
Held-to-maturity securities, Amortized Cost | 288 | 238 |
Securities, Held to maturity, Unrecognized Holding Gain | 0 | 0 |
Held-to-maturity Securities, Accumulated Unrecognized Holding Loss | 0 | 0 |
Held-to-maturity Securities, Fair Value | 288 | 238 |
U.S. Agency Mortgage-Backed Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Available-for-sale Debt Securities, Amortized Cost Basis | 3,345 | 2,963 |
Securities, Available for sale Debt Securities, Gross Unrealized Gains | 7 | 7 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax | (44) | (43) |
Available-for-sale Securities, Debt Securities | 3,308 | 2,927 |
Non-U.S. Agency Mortgage-Backed Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Available-for-sale Debt Securities, Amortized Cost Basis | 999 | 1,009 |
Securities, Available for sale Debt Securities, Gross Unrealized Gains | 2 | 3 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax | (10) | (10) |
Available-for-sale Securities, Debt Securities | $ 991 | $ 1,002 |
Investments (Amortized Cost and
Investments (Amortized Cost and Fair Value of Available-for-Sale Debt Securities by Contractual Maturity) (Details) - USD ($) $ in Millions | Mar. 31, 2017 | Dec. 31, 2016 |
Schedule of Investments [Line Items] | ||
Due in one year or less, Amortized Cost | $ 3,291 | |
Due after one year through five years, Amortized Cost | 10,041 | |
Due after five years through ten years, Amortized Cost | 6,090 | |
Due after ten years, Amortized Cost | 2,006 | |
Total debt securities - available-for-sale, Amortized Cost | 25,772 | $ 24,330 |
Due in one year or less, Fair Value | 3,293 | |
Due after one year through five years, Fair Value | 10,049 | |
Due after five years through ten years, Fair Value | 6,069 | |
Due after ten years, Fair Value | 1,993 | |
Available-for-sale Securities, Debt Securities | 25,703 | 24,179 |
Held-to-maturity Securities, Debt Maturities, within One Year, Net Carrying Amount | 191 | |
Held-to-maturity Securities, Debt Maturities, within One Year, Fair Value | 191 | |
Held-to-maturity Securities, Debt Maturities, after One Through Five Years, Net Carrying Amount | 111 | |
Held-to-maturity Securities, Debt Maturities, Year Two Through Five, Fair Value | 111 | |
Held-to-maturity Securities, Debt Maturities, after Five Through Ten Years, Net Carrying Amount | 120 | |
Held-to-maturity Securities, Debt Maturities, Year Six Through Ten, Fair Value | 120 | |
Held-to-maturity Securities, Debt Maturities, after Ten Years, Net Carrying Amount | 130 | |
Held-to-maturity Securities, Debt Maturities, after Ten Years, Fair Value | 131 | |
Held-to-maturity securities, Amortized Cost | 552 | 493 |
Held-to-maturity Securities, Fair Value | 553 | 494 |
U.S. Agency Mortgage-Backed Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Mortgage-backed securities, Amortized Cost | 3,345 | |
Total debt securities - available-for-sale, Amortized Cost | 3,345 | 2,963 |
Available-for-sale Securities, Debt Securities | 3,308 | 2,927 |
Mortgage-backed securities, Fair Value | 3,308 | |
Non-U.S. Agency Mortgage-Backed Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Mortgage-backed securities, Amortized Cost | 999 | |
Total debt securities - available-for-sale, Amortized Cost | 999 | 1,009 |
Available-for-sale Securities, Debt Securities | 991 | $ 1,002 |
Mortgage-backed securities, Fair Value | $ 991 |
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 | Mar. 31, 2017 | Dec. 31, 2016 |
Debt Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Less Than 12 Months, Fair Value | $ 12,853 | $ 14,089 |
Less Than 12 Months, Gross Unrealized Losses | (185) | (235) |
Greater Than 12 Months, Fair Value | 204 | 313 |
Greater Than 12 Months, Gross Unrealized Losses | (7) | (8) |
Total, Fair Value | 13,057 | 14,402 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (192) | (243) |
U.S. Government and Agency Obligations [Member] | ||
Schedule of Investments [Line Items] | ||
Less Than 12 Months, Fair Value | 2,077 | 1,794 |
Less Than 12 Months, Gross Unrealized Losses | (28) | (31) |
Total, Fair Value | 2,077 | 1,794 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (28) | (31) |
State and Municipal Obligations [Member] | ||
Schedule of Investments [Line Items] | ||
Less Than 12 Months, Fair Value | 3,187 | 4,376 |
Less Than 12 Months, Gross Unrealized Losses | (64) | (101) |
Total, Fair Value | 3,187 | 4,376 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (64) | (101) |
Corporate Obligations [Member] | ||
Schedule of Investments [Line Items] | ||
Less Than 12 Months, Fair Value | 4,567 | 5,128 |
Less Than 12 Months, Gross Unrealized Losses | (44) | (56) |
Greater Than 12 Months, Fair Value | 81 | 137 |
Greater Than 12 Months, Gross Unrealized Losses | (2) | (2) |
Total, Fair Value | 4,648 | 5,265 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (46) | (58) |
U.S. Agency Mortgage-Backed Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Less Than 12 Months, Fair Value | 2,406 | 2,247 |
Less Than 12 Months, Gross Unrealized Losses | (41) | (40) |
Greater Than 12 Months, Fair Value | 76 | 79 |
Greater Than 12 Months, Gross Unrealized Losses | (3) | (3) |
Total, Fair Value | 2,482 | 2,326 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (44) | (43) |
Non-U.S. Agency Mortgage-Backed Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Less Than 12 Months, Fair Value | 616 | 544 |
Less Than 12 Months, Gross Unrealized Losses | (8) | (7) |
Greater Than 12 Months, Fair Value | 47 | 97 |
Greater Than 12 Months, Gross Unrealized Losses | (2) | (3) |
Total, Fair Value | 663 | 641 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (10) | (10) |
Equity Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Less Than 12 Months, Fair Value | 75 | 93 |
Less Than 12 Months, Gross Unrealized Losses | (4) | (5) |
Greater Than 12 Months, Fair Value | 101 | 91 |
Greater Than 12 Months, Gross Unrealized Losses | (38) | (42) |
Total, Fair Value | 176 | 184 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | $ (42) | $ (47) |
Fair Value (Narrative) (Details
Fair Value (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Fair Value [Line Items] | ||
Transfers from level 1 to level 2-Assets | $ 0 | $ 0 |
Transfers from level 1 to level 2-Liabilities | 0 | 0 |
Transfer from level 2 to level 1-Assets | 0 | 0 |
Transfer from level 2 to level 1-Liabilities | 0 | 0 |
Transfers Into Level 3 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value [Line Items] | ||
Significant fair value adjustments for assets and liabilities measured on a nonrecurring basis | $ 0 | $ 0 |
Fair Value (Financial Assets an
Fair Value (Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Millions | Mar. 31, 2017 | Dec. 31, 2016 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and cash equivalents | $ 16,142 | $ 10,430 |
Available-for-sale Securities, Debt Securities | 25,703 | 24,179 |
Equity Securities, Fair Value | 2,121 | 2,041 |
AARP Assets Under Management | 2,886 | 3,105 |
Interest rate swap assets | 45 | 55 |
Total assets at fair value | $ 46,897 | $ 39,810 |
Percentage of total assets at fair value | 100.00% | 100.00% |
Interest rate swap liabilities | $ 19 | $ 14 |
Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 25,703 | 24,179 |
U.S. Government and Agency Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 2,503 | 2,264 |
State and Municipal Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 7,020 | 7,059 |
Corporate Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 11,881 | 10,927 |
U.S. Agency Mortgage-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 3,308 | 2,927 |
Non-U.S. Agency Mortgage-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 991 | 1,002 |
Quoted Prices in Active Markets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and cash equivalents | 16,101 | 10,386 |
Equity Securities, Fair Value | 1,666 | 1,591 |
AARP Assets Under Management | 888 | 1,064 |
Interest rate swap assets | 0 | 0 |
Total assets at fair value | $ 20,901 | $ 15,079 |
Percentage of total assets at fair value | 45.00% | 38.00% |
Interest rate swap liabilities | $ 0 | $ 0 |
Quoted Prices in Active Markets (Level 1) [Member] | Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 2,246 | 2,038 |
Quoted Prices in Active Markets (Level 1) [Member] | U.S. Government and Agency Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 2,220 | 2,017 |
Quoted Prices in Active Markets (Level 1) [Member] | State and Municipal Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 0 | 0 |
Quoted Prices in Active Markets (Level 1) [Member] | Corporate Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 26 | 21 |
Quoted Prices in Active Markets (Level 1) [Member] | U.S. Agency Mortgage-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 0 | 0 |
Quoted Prices in Active Markets (Level 1) [Member] | Non-U.S. Agency Mortgage-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 0 | 0 |
Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and cash equivalents | 41 | 44 |
Equity Securities, Fair Value | 12 | 13 |
AARP Assets Under Management | 1,998 | 2,041 |
Interest rate swap assets | 45 | 55 |
Total assets at fair value | $ 25,442 | $ 24,192 |
Percentage of total assets at fair value | 54.00% | 61.00% |
Interest rate swap liabilities | $ 19 | $ 14 |
Other Observable Inputs (Level 2) [Member] | Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 23,346 | 22,039 |
Other Observable Inputs (Level 2) [Member] | U.S. Government and Agency Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 283 | 247 |
Other Observable Inputs (Level 2) [Member] | State and Municipal Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 7,020 | 7,059 |
Other Observable Inputs (Level 2) [Member] | Corporate Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 11,744 | 10,804 |
Other Observable Inputs (Level 2) [Member] | U.S. Agency Mortgage-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 3,308 | 2,927 |
Other Observable Inputs (Level 2) [Member] | Non-U.S. Agency Mortgage-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 991 | 1,002 |
Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and cash equivalents | 0 | 0 |
Equity Securities, Fair Value | 443 | 437 |
AARP Assets Under Management | 0 | 0 |
Interest rate swap assets | 0 | 0 |
Total assets at fair value | $ 554 | $ 539 |
Percentage of total assets at fair value | 1.00% | 1.00% |
Interest rate swap liabilities | $ 0 | $ 0 |
Unobservable Inputs (Level 3) [Member] | Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 111 | 102 |
Unobservable Inputs (Level 3) [Member] | U.S. Government and Agency Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 0 | 0 |
Unobservable Inputs (Level 3) [Member] | State and Municipal Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 0 | 0 |
Unobservable Inputs (Level 3) [Member] | Corporate Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 111 | 102 |
Unobservable Inputs (Level 3) [Member] | U.S. Agency Mortgage-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 0 | 0 |
Unobservable Inputs (Level 3) [Member] | Non-U.S. Agency Mortgage-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | $ 0 | $ 0 |
Fair Value (Financial Assets 30
Fair Value (Financial Assets and Liabilities, Not Measured at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Millions | Mar. 31, 2017 | Dec. 31, 2016 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Held-to-maturity Securities, Fair Value | $ 553 | $ 494 |
Held-to-maturity Securities | 552 | 493 |
Debt and other financing obligations | 35,300 | 34,728 |
Debt and other financing obligations, carrying value | 33,210 | 32,770 |
Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Held-to-maturity Securities, Fair Value | 553 | 494 |
Fair Value, Measurements, Nonrecurring [Member] | Quoted Prices in Active Markets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Held-to-maturity Securities, Fair Value | 275 | 271 |
Fair Value, Measurements, Nonrecurring [Member] | Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Held-to-maturity Securities, Fair Value | 5 | 8 |
Fair Value, Measurements, Nonrecurring [Member] | Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Held-to-maturity Securities, Fair Value | 273 | 215 |
U.S. Government and Agency Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Held-to-maturity Securities | 259 | 250 |
U.S. Government and Agency Obligations [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Held-to-maturity Securities, Fair Value | 260 | 251 |
U.S. Government and Agency Obligations [Member] | Fair Value, Measurements, Nonrecurring [Member] | Quoted Prices in Active Markets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Held-to-maturity Securities, Fair Value | 257 | 251 |
U.S. Government and Agency Obligations [Member] | Fair Value, Measurements, Nonrecurring [Member] | Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Held-to-maturity Securities, Fair Value | 3 | 0 |
U.S. Government and Agency Obligations [Member] | Fair Value, Measurements, Nonrecurring [Member] | Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Held-to-maturity Securities, Fair Value | 0 | 0 |
State and Municipal Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Held-to-maturity Securities | 5 | 5 |
State and Municipal Obligations [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Held-to-maturity Securities, Fair Value | 5 | 5 |
State and Municipal Obligations [Member] | Fair Value, Measurements, Nonrecurring [Member] | Quoted Prices in Active Markets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Held-to-maturity Securities, Fair Value | 0 | 0 |
State and Municipal Obligations [Member] | Fair Value, Measurements, Nonrecurring [Member] | Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Held-to-maturity Securities, Fair Value | 0 | 0 |
State and Municipal Obligations [Member] | Fair Value, Measurements, Nonrecurring [Member] | Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Held-to-maturity Securities, Fair Value | 5 | 5 |
Corporate Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Held-to-maturity Securities | 288 | 238 |
Corporate Obligations [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Held-to-maturity Securities, Fair Value | 288 | 238 |
Corporate Obligations [Member] | Fair Value, Measurements, Nonrecurring [Member] | Quoted Prices in Active Markets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Held-to-maturity Securities, Fair Value | 18 | 20 |
Corporate Obligations [Member] | Fair Value, Measurements, Nonrecurring [Member] | Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Held-to-maturity Securities, Fair Value | 2 | 8 |
Corporate Obligations [Member] | Fair Value, Measurements, Nonrecurring [Member] | Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Held-to-maturity Securities, Fair Value | 268 | 210 |
Other Assets [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other Assets | 465 | 471 |
Other Assets [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other Assets, Fair Value Disclosure | 468 | 476 |
Other Assets [Member] | Fair Value, Measurements, Nonrecurring [Member] | Quoted Prices in Active Markets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other Assets, Fair Value Disclosure | 0 | 0 |
Other Assets [Member] | Fair Value, Measurements, Nonrecurring [Member] | Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other Assets, Fair Value Disclosure | 468 | 476 |
Other Assets [Member] | Fair Value, Measurements, Nonrecurring [Member] | Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other Assets, Fair Value Disclosure | 0 | 0 |
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 | 30,399 | 29,337 |
Long-term debt and other financing obligations | Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt and other financing obligations | 32,489 | 31,295 |
Long-term debt and other financing obligations | Fair Value, Measurements, Nonrecurring [Member] | Quoted Prices in Active Markets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt and other financing obligations | 0 | 0 |
Long-term debt and other financing obligations | Fair Value, Measurements, Nonrecurring [Member] | Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt and other financing obligations | 32,489 | 31,295 |
Long-term debt and other financing obligations | Fair Value, Measurements, Nonrecurring [Member] | Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt and other financing obligations | $ 0 | $ 0 |
Other Current Receivables (Deta
Other Current Receivables (Details) - USD ($) $ in Millions | Mar. 31, 2017 | Dec. 31, 2016 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Other current receivables | $ 6,609 | $ 7,499 |
Pharmaceutical manufacturer rebates receivable | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Other current receivables | $ 4,000 | $ 3,300 |
Medical Costs Payable (Details)
Medical Costs Payable (Details) - USD ($) $ in Billions | Mar. 31, 2017 | Dec. 31, 2016 |
Liability for Claims and Claims Adjustment Expense [Line Items] | ||
Liability for Unpaid Claims and Claims Adjustment Expense, Incurred but Not Reported (IBNR) Claims, Amount | $ 12.5 | $ 11.6 |
Medical Costs Payable Rollforwa
Medical Costs Payable Rollforward (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | ||
Medical costs payable, beginning of period | $ 16,391 | $ 14,330 |
Acquisitions | 76 | 0 |
Reported medical costs: | ||
Current year | 32,529 | 28,790 |
Prior years | (450) | (360) |
Total reported medical costs | 32,079 | 28,430 |
Medical payments: | ||
Payments for current year | (18,742) | (15,797) |
Payments for prior years | (12,154) | (11,140) |
Total medical payments | (30,896) | (26,937) |
Medical costs payable, end of period | $ 17,650 | $ 15,823 |
Commercial Paper and Long-Ter34
Commercial Paper and Long-Term Debt (Narrative) (Details) $ in Millions | 3 Months Ended | |
Mar. 31, 2017USD ($)banks | Dec. 31, 2016USD ($) | |
Debt Instrument [Line Items] | ||
Debt assumed through acquisition | $ 926 | |
Repayments of Assumed Debt | $ 642 | |
Commercial Paper [Member] | ||
Debt Instrument [Line Items] | ||
Short-term Debt, Weighted Average Interest Rate | 1.10% | |
Five Year $3.0 Billion Credit Facility [Member] | Revolving Credit Facility [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Line of Credit | $ 0 | |
Line of Credit, Credit Facility, Maximum Borrowing Capacity | $ 3,000 | |
Line of Credit Facility, Expiration Period | 5 years | |
Number of banks that comprise revolving bank credit facility (banks) | 23 | |
Maximum percentage of indebtedness to total net capital bank covenant | 55.00% | |
Five Year $3.0 Billion Credit Facility [Member] | Minimum [Member] | Revolving Credit Facility [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate During Period | 1.80% | |
Five Year $3.0 Billion Credit Facility [Member] | Maximum [Member] | Revolving Credit Facility [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate During Period | 2.30% | |
Three Year 2.0 Billion Credit Facility [Member] | Revolving Credit Facility [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Line of Credit | $ 0 | |
Line of Credit, Credit Facility, Maximum Borrowing Capacity | $ 2,000 | |
Line of Credit Facility, Expiration Period | 3 years | |
Number of banks that comprise revolving bank credit facility (banks) | 23 | |
Maximum percentage of indebtedness to total net capital bank covenant | 55.00% | |
Three Year 2.0 Billion Credit Facility [Member] | Minimum [Member] | Revolving Credit Facility [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate During Period | 1.80% | |
Three Year 2.0 Billion Credit Facility [Member] | Maximum [Member] | Revolving Credit Facility [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate During Period | 2.30% | |
364 Day $1.0 Billion Credit Facility [Member] | Revolving Credit Facility [Member] | ||
Debt Instrument [Line Items] | ||
Line of Credit, Current | $ 0 | |
Line of Credit, Credit Facility, Maximum Borrowing Capacity | $ 1,000 | |
Line of Credit Facility, Expiration Period | 364 days | |
Number of banks that comprise revolving bank credit facility (banks) | banks | 23 | |
Maximum percentage of indebtedness to total net capital bank covenant | 55.00% | |
364 Day $1.0 Billion Credit Facility [Member] | Minimum [Member] | Revolving Credit Facility [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate During Period | 1.80% | |
364 Day $1.0 Billion Credit Facility [Member] | Maximum [Member] | Revolving Credit Facility [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate During Period | 2.30% | |
Subsidiaries [Member] | ||
Debt Instrument [Line Items] | ||
Other Long-term Debt | $ 407 | $ 200 |
Other Long-term Debt, Current | $ 129 | $ 80 |
Commercial Paper and Long-Ter35
Commercial Paper and Long-Term Debt (Details) - USD ($) $ in Millions | Mar. 31, 2017 | Dec. 31, 2016 |
Debt Instrument [Line Items] | ||
Par Value | $ 33,491 | $ 33,022 |
Carrying Value | 33,210 | 32,770 |
Fair Value | 35,300 | 34,728 |
Commercial Paper [Member] | ||
Debt Instrument [Line Items] | ||
Par Value | 3,502 | 3,633 |
Carrying Value | 3,502 | 3,633 |
Fair Value | 3,502 | 3,633 |
Floating rate notes due January 2017 [Member] | ||
Debt Instrument [Line Items] | ||
Par Value | 0 | 750 |
Carrying Value | 0 | 750 |
Fair Value | $ 0 | 750 |
6.000% notes due June 2017 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 6.00% | |
Par Value | $ 441 | 441 |
Carrying Value | 443 | 446 |
Fair Value | $ 445 | 450 |
1.450% notes due July 2017 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 1.45% | |
Par Value | $ 750 | 750 |
Carrying Value | 750 | 750 |
Fair Value | $ 751 | 751 |
1.400% notes due October 2017 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 1.40% | |
Par Value | $ 625 | 625 |
Carrying Value | 625 | 624 |
Fair Value | $ 625 | 626 |
6.000% notes due November 2017 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 6.00% | |
Par Value | $ 156 | 156 |
Carrying Value | 158 | 159 |
Fair Value | $ 161 | 163 |
1.400% notes due December 2017 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 1.40% | |
Par Value | $ 750 | 750 |
Carrying Value | 750 | 751 |
Fair Value | $ 750 | 750 |
6.000% notes due February 2018 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 6.00% | |
Par Value | $ 1,100 | 1,100 |
Carrying Value | 1,106 | 1,107 |
Fair Value | $ 1,142 | 1,153 |
1.900% notes due July 2018 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 1.90% | |
Par Value | $ 1,500 | 1,500 |
Carrying Value | 1,497 | 1,496 |
Fair Value | $ 1,507 | 1,507 |
1.700% Notes due February 2019 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 1.70% | |
Par Value | $ 750 | 750 |
Carrying Value | 748 | 748 |
Fair Value | $ 750 | 748 |
1.625% notes due March 2019 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 1.625% | |
Par Value | $ 500 | 500 |
Carrying Value | 501 | 501 |
Fair Value | $ 498 | 498 |
2.300% notes due December 2019 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 2.30% | |
Par Value | $ 500 | 500 |
Carrying Value | 497 | 498 |
Fair Value | $ 505 | 504 |
2.700% notes due July 2020 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 2.70% | |
Par Value | $ 1,500 | 1,500 |
Carrying Value | 1,495 | 1,495 |
Fair Value | $ 1,530 | 1,523 |
3.875% notes due October 2020 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 3.875% | |
Par Value | $ 450 | 450 |
Carrying Value | 449 | 450 |
Fair Value | $ 475 | 474 |
4.700% notes due February 2021 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 4.70% | |
Par Value | $ 400 | 400 |
Carrying Value | 407 | 409 |
Fair Value | $ 433 | 433 |
2.125% notes due March 2021 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 2.125% | |
Par Value | $ 750 | 750 |
Carrying Value | 746 | 745 |
Fair Value | $ 744 | 741 |
3.375% notes due November 2021 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 3.375% | |
Par Value | $ 500 | 500 |
Carrying Value | 496 | 497 |
Fair Value | $ 520 | 519 |
2.875% notes due December 2021 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 2.875% | |
Par Value | $ 750 | 750 |
Carrying Value | 746 | 748 |
Fair Value | $ 765 | 760 |
2.875% notes due March 2022 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 2.875% | |
Par Value | $ 1,100 | 1,100 |
Carrying Value | 1,056 | 1,057 |
Fair Value | $ 1,122 | 1,114 |
3.350% notes due July 2022 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 3.35% | |
Par Value | $ 1,000 | 1,000 |
Carrying Value | 995 | 995 |
Fair Value | $ 1,035 | 1,030 |
0.000% notes due November 2022 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 0.00% | |
Par Value | $ 15 | 15 |
Carrying Value | 11 | 11 |
Fair Value | $ 12 | 12 |
2.750% notes due February 2023 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 2.75% | |
Par Value | $ 625 | 625 |
Carrying Value | 608 | 609 |
Fair Value | $ 623 | 622 |
2.875% notes due March 2023 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 2.875% | |
Par Value | $ 750 | 750 |
Carrying Value | 768 | 771 |
Fair Value | $ 752 | 753 |
3.750% notes due July 2025 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 3.75% | |
Par Value | $ 2,000 | 2,000 |
Carrying Value | 1,986 | 1,986 |
Fair Value | $ 2,089 | 2,070 |
3.100% notes due March 2026 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 3.10% | |
Par Value | $ 1,000 | 1,000 |
Carrying Value | 994 | 994 |
Fair Value | $ 992 | 986 |
3.450% notes due January 2027 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 3.45% | |
Par Value | $ 750 | 750 |
Carrying Value | 745 | 745 |
Fair Value | $ 761 | 762 |
3.375% notes due April 2027 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 3.75% | |
Par Value | $ 625 | 0 |
Carrying Value | 618 | 0 |
Fair Value | $ 629 | 0 |
4.625% notes due July 2035 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 4.625% | |
Par Value | $ 1,000 | 1,000 |
Carrying Value | 991 | 991 |
Fair Value | $ 1,090 | 1,090 |
5.800% notes due March 2036 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 5.80% | |
Par Value | $ 850 | 850 |
Carrying Value | 837 | 837 |
Fair Value | $ 1,048 | 1,034 |
6.500% notes due June 2037 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 6.50% | |
Par Value | $ 500 | 500 |
Carrying Value | 491 | 491 |
Fair Value | $ 655 | 643 |
6.625% notes due November 2037 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 6.625% | |
Par Value | $ 650 | 650 |
Carrying Value | 640 | 640 |
Fair Value | $ 865 | 850 |
6.875% notes due February 2038 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 6.875% | |
Par Value | $ 1,100 | 1,100 |
Carrying Value | 1,075 | 1,075 |
Fair Value | $ 1,495 | 1,497 |
5.700% notes due October 2040 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 5.70% | |
Par Value | $ 300 | 300 |
Carrying Value | 296 | 296 |
Fair Value | $ 365 | 366 |
5.950% notes due February 2041 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 5.95% | |
Par Value | $ 350 | 350 |
Carrying Value | 345 | 345 |
Fair Value | $ 441 | 437 |
4.625% notes due November 2041 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 4.625% | |
Par Value | $ 600 | 600 |
Carrying Value | 588 | 588 |
Fair Value | $ 637 | 634 |
4.375% notes due March 2042 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 4.375% | |
Par Value | $ 502 | 502 |
Carrying Value | 483 | 483 |
Fair Value | $ 520 | 509 |
3.950% notes due October 2042 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 3.95% | |
Par Value | $ 625 | 625 |
Carrying Value | 606 | 606 |
Fair Value | $ 608 | 609 |
4.250% notes due March 2043 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 4.25% | |
Par Value | $ 750 | 750 |
Carrying Value | 734 | 734 |
Fair Value | $ 764 | 765 |
4.750% notes due July 2045 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 4.75% | |
Par Value | $ 2,000 | 2,000 |
Carrying Value | 1,972 | 1,972 |
Fair Value | $ 2,192 | 2,203 |
4.200% notes due January 2047 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 4.20% | |
Par Value | $ 750 | 750 |
Carrying Value | 738 | 737 |
Fair Value | $ 762 | 759 |
4.250% notes due April 2047 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 4.25% | |
Par Value | $ 725 | 0 |
Carrying Value | 717 | 0 |
Fair Value | $ 740 | $ 0 |
Commitments and Contingencies36
Commitments and Contingencies (Details) - California Claims Processing Matter [Member] - USD ($) $ in Millions | Jun. 09, 2014 | Jan. 25, 2008 | Aug. 31, 2013 | Mar. 31, 2017 |
Loss Contingency [Line Items] | ||||
Estimated Largest Penalty Ever Issued By Cdi | $ 8 | |||
CDI aggregate penalty | $ 325 | |||
California Administrative Law Judge [Member] | Judicial Ruling [Member] | ||||
Loss Contingency [Line Items] | ||||
Loss Contingency, Damages Awarded, Value | $ 11.5 | |||
California Insurance Commissioner [Member] | Judicial Ruling [Member] | ||||
Loss Contingency [Line Items] | ||||
Loss Contingency, Damages Awarded, Value | $ 174 |
Segment Financial Information37
Segment Financial Information (Narrative) (Details) $ in Millions | 3 Months Ended | |
Mar. 31, 2017USD ($) | Dec. 31, 2016USD ($) | |
Statement [Line Items] | ||
Number of Reportable Segments | 4 | |
Assets | $ 137,157 | $ 122,810 |
Optumhealth [Member] | ||
Statement [Line Items] | ||
Assets | 24,700 | $ 18,700 |
Goodwill, Period Increase (Decrease) | $ 4,600 |
Segment Financial Information38
Segment Financial Information (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Statement [Line Items] | ||
Premiums, revenues - external customers | $ 38,938 | $ 34,811 |
Products, revenues - external customers | 6,129 | 6,393 |
Services, revenues - external customers | 3,434 | 3,140 |
Investment and other income | 222 | 183 |
Total revenues | 48,723 | 44,527 |
Earnings from operations | 3,413 | 2,960 |
Interest expense | (283) | (259) |
Earnings before income taxes | 3,130 | 2,701 |
Optum [Member] | ||
Statement [Line Items] | ||
Investment and other income | 61 | 42 |
Total revenues | 21,237 | 19,684 |
Earnings from operations | 1,279 | 1,106 |
Interest expense | 0 | 0 |
Earnings before income taxes | 1,279 | 1,106 |
External Customers [Member] | ||
Statement [Line Items] | ||
Premiums, revenues - external customers | 38,938 | 34,811 |
Products, revenues - external customers | 6,129 | 6,393 |
Services, revenues - external customers | 3,434 | 3,140 |
Total revenues | 48,501 | 44,344 |
External Customers [Member] | Optum [Member] | ||
Statement [Line Items] | ||
Premiums, revenues - external customers | 885 | 848 |
Products, revenues - external customers | 6,129 | 6,393 |
Services, revenues - external customers | 1,512 | 1,344 |
Total revenues | 8,526 | 8,585 |
Intersegment [Member] | ||
Statement [Line Items] | ||
Total revenues | 0 | 0 |
Intersegment [Member] | Optum [Member] | ||
Statement [Line Items] | ||
Total revenues | 12,650 | 11,057 |
Operating Segments [Member] | UnitedHealthcare [Member] | ||
Statement [Line Items] | ||
Investment and other income | 161 | 141 |
Total revenues | 40,136 | 35,900 |
Earnings from operations | 2,134 | 1,854 |
Interest expense | 0 | 0 |
Earnings before income taxes | 2,134 | 1,854 |
Operating Segments [Member] | Optumhealth [Member] | ||
Statement [Line Items] | ||
Investment and other income | 56 | 40 |
Total revenues | 4,733 | 3,998 |
Earnings from operations | 332 | 300 |
Interest expense | 0 | 0 |
Earnings before income taxes | 332 | 300 |
Operating Segments [Member] | Optuminsight [Member] | ||
Statement [Line Items] | ||
Investment and other income | 1 | 0 |
Total revenues | 1,843 | 1,667 |
Earnings from operations | 294 | 246 |
Interest expense | 0 | 0 |
Earnings before income taxes | 294 | 246 |
Operating Segments [Member] | Optumrx [Member] | ||
Statement [Line Items] | ||
Investment and other income | 4 | 2 |
Total revenues | 14,947 | 14,273 |
Earnings from operations | 653 | 560 |
Interest expense | 0 | 0 |
Earnings before income taxes | 653 | 560 |
Operating Segments [Member] | External Customers [Member] | UnitedHealthcare [Member] | ||
Statement [Line Items] | ||
Premiums, revenues - external customers | 38,053 | 33,963 |
Products, revenues - external customers | 0 | 0 |
Services, revenues - external customers | 1,922 | 1,796 |
Total revenues | 39,975 | 35,759 |
Operating Segments [Member] | External Customers [Member] | Optumhealth [Member] | ||
Statement [Line Items] | ||
Premiums, revenues - external customers | 885 | 848 |
Products, revenues - external customers | 12 | 13 |
Services, revenues - external customers | 721 | 612 |
Total revenues | 1,618 | 1,473 |
Operating Segments [Member] | External Customers [Member] | Optuminsight [Member] | ||
Statement [Line Items] | ||
Premiums, revenues - external customers | 0 | 0 |
Products, revenues - external customers | 21 | 20 |
Services, revenues - external customers | 642 | 606 |
Total revenues | 663 | 626 |
Operating Segments [Member] | External Customers [Member] | Optumrx [Member] | ||
Statement [Line Items] | ||
Premiums, revenues - external customers | 0 | 0 |
Products, revenues - external customers | 6,096 | 6,360 |
Services, revenues - external customers | 149 | 126 |
Total revenues | 6,245 | 6,486 |
Operating Segments [Member] | Intersegment [Member] | UnitedHealthcare [Member] | ||
Statement [Line Items] | ||
Total revenues | 0 | 0 |
Operating Segments [Member] | Intersegment [Member] | Optumhealth [Member] | ||
Statement [Line Items] | ||
Total revenues | 3,059 | 2,485 |
Operating Segments [Member] | Intersegment [Member] | Optuminsight [Member] | ||
Statement [Line Items] | ||
Total revenues | 1,179 | 1,041 |
Operating Segments [Member] | Intersegment [Member] | Optumrx [Member] | ||
Statement [Line Items] | ||
Total revenues | 8,698 | 7,785 |
Optum Eliminations [Member] | ||
Statement [Line Items] | ||
Investment and other income | 0 | 0 |
Total revenues | (286) | (254) |
Earnings from operations | 0 | 0 |
Interest expense | 0 | 0 |
Earnings before income taxes | 0 | 0 |
Optum Eliminations [Member] | External Customers [Member] | ||
Statement [Line Items] | ||
Premiums, revenues - external customers | 0 | 0 |
Products, revenues - external customers | 0 | 0 |
Services, revenues - external customers | 0 | 0 |
Total revenues | 0 | 0 |
Optum Eliminations [Member] | Intersegment [Member] | ||
Statement [Line Items] | ||
Total revenues | (286) | (254) |
Corporate and Eliminations [Member] | ||
Statement [Line Items] | ||
Investment and other income | 0 | 0 |
Total revenues | (12,650) | (11,057) |
Earnings from operations | 0 | 0 |
Interest expense | (283) | (259) |
Earnings before income taxes | (283) | (259) |
Corporate and Eliminations [Member] | External Customers [Member] | ||
Statement [Line Items] | ||
Premiums, revenues - external customers | 0 | 0 |
Products, revenues - external customers | 0 | 0 |
Services, revenues - external customers | 0 | 0 |
Total revenues | 0 | 0 |
Corporate and Eliminations [Member] | Intersegment [Member] | ||
Statement [Line Items] | ||
Total revenues | $ (12,650) | $ (11,057) |