Document and Entity Information
Document and Entity Information Document - shares | 3 Months Ended | |
Mar. 31, 2018 | Apr. 30, 2018 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2018 | |
Document Fiscal Year Focus | 2,018 | |
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 | 960,981,242 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Millions | Mar. 31, 2018 | Dec. 31, 2017 |
Current assets: | ||
Cash and cash equivalents | $ 18,243 | $ 11,981 |
Short-term investments | 3,798 | 3,509 |
Accounts receivable, net | 11,512 | 9,568 |
Other current receivables, net | 6,778 | 6,262 |
Assets under management | 2,922 | 3,101 |
Prepaid expenses and other current assets | 5,100 | 2,663 |
Total current assets | 48,353 | 37,084 |
Long-term investments | 29,441 | 28,341 |
Property, equipment and capitalized software, net | 8,144 | 7,013 |
Goodwill | 56,850 | 54,556 |
Other intangible assets, net | 9,033 | 8,489 |
Other assets | 3,748 | 3,575 |
Total assets | 155,569 | 139,058 |
Current liabilities: | ||
Medical costs payable | 19,589 | 17,871 |
Accounts payable and accrued liabilities | 18,210 | 15,180 |
Commercial paper and current maturities of long-term debt | 7,379 | 2,857 |
Unearned revenues | 7,683 | 2,269 |
Other current liabilities | 14,806 | 12,286 |
Total current liabilities | 67,667 | 50,463 |
Long-term debt, less current maturities | 28,206 | 28,835 |
Deferred income taxes | 2,213 | 2,182 |
Other liabilities | 5,557 | 5,556 |
Total liabilities | 103,643 | 87,036 |
Commitments and contingencies (Note 6) | ||
Redeemable noncontrolling interests | 1,890 | 2,189 |
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; 962 and 969 issued and outstanding | 10 | 10 |
Additional paid-in capital | 0 | 1,703 |
Retained earnings | 50,494 | 48,730 |
Accumulated other comprehensive loss | (2,951) | (2,667) |
Nonredeemable noncontrolling interests | 2,483 | 2,057 |
Total equity | 50,036 | 49,833 |
Total liabilities, redeemable noncontrolling interests and equity | $ 155,569 | $ 139,058 |
Condensed Consolidated Balance3
Condensed Consolidated Balance Sheet (Parenthetical) - $ / shares shares in Millions | Mar. 31, 2018 | Dec. 31, 2017 |
Common stock, par value | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 3,000 | 3,000 |
Common stock, shares issued | 962 | 969 |
Common stock, shares outstanding | 962 | 969 |
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, 2018 | Mar. 31, 2017 | |
Revenues: | ||
Premiums | $ 44,084 | $ 38,938 |
Products | 6,702 | 6,129 |
Services | 4,104 | 3,434 |
Investment and other income | 298 | 222 |
Total revenues | 55,188 | 48,723 |
Operating costs: | ||
Medical costs | 35,863 | 32,079 |
Operating costs | 8,506 | 7,022 |
Cost of products sold | 6,184 | 5,676 |
Depreciation and amortization | 582 | 533 |
Total operating costs | 51,135 | 45,310 |
Earnings from operations | 4,053 | 3,413 |
Interest expense | (329) | (283) |
Earnings before income taxes | 3,724 | 3,130 |
Provision for income taxes | (800) | (939) |
Net earnings | 2,924 | 2,191 |
Earnings attributable to noncontrolling interests | (88) | (19) |
Net earnings attributable to UnitedHealth Group common shareholders | $ 2,836 | $ 2,172 |
Earnings per share attributable to UnitedHealth Group common shareholders: | ||
Basic | $ 2.94 | $ 2.28 |
Diluted | $ 2.87 | $ 2.23 |
Basic weighted-average number of common shares outstanding | 966 | 954 |
Dilutive effect of common share equivalents | 21 | 21 |
Diluted weighted-average number of common shares outstanding | 987 | 975 |
Anti-dilutive shares excluded from the calculation of dilutive effect of common share equivalents | 7 | 9 |
Cash dividends declared per common share | $ 0.750 | $ 0.625 |
Condensed Consolidated Stateme5
Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Net earnings | $ 2,924 | $ 2,191 |
Other comprehensive (loss) income: | ||
Gross unrealized (losses) gains on investment securities during the period | (378) | 99 |
Income tax effect | 86 | (32) |
Total unrealized (losses) gains, net of tax | (292) | 67 |
Gross reclassification adjustment for net realized gains included in net earnings | (19) | (21) |
Income tax effect | 4 | 8 |
Total reclassification adjustment, net of tax | (15) | (13) |
Total foreign currency translation (loss) gain | (1) | 180 |
Other comprehensive (loss) income | (308) | 234 |
Comprehensive income | 2,616 | 2,425 |
Comprehensive income attributable to noncontrolling interests | (88) | (19) |
Comprehensive income attributable to UnitedHealth Group common shareholders | $ 2,528 | $ 2,406 |
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 (Losses) Gains on Investments [Member] | Foreign Currency Translation (Losses) Gains [Member] | Nonredeemable Noncontrolling Interests [Member] |
Balance at Dec. 31, 2016 | $ 38,177 | $ 10 | $ 0 | $ 40,945 | $ (97) | $ (2,584) | $ (97) |
Balance (in shares) at Dec. 31, 2016 | 952 | ||||||
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 (loss) | 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 at Mar. 31, 2017 | 43,995 | $ 10 | 1,819 | 42,521 | (43) | (2,404) | 2,092 |
Balance (in shares) at Mar. 31, 2017 | 965 | ||||||
Balance at Dec. 31, 2017 | $ 49,833 | $ 10 | 1,703 | 48,730 | (13) | (2,654) | 2,057 |
Balance (in shares) at Dec. 31, 2017 | 969 | 969 | |||||
Adjustment to adopt ASU 2016-01 at Dec. 31, 2017 | $ 0 | (24) | 24 | ||||
Net earnings attributable to UnitedHealth Group common shareholders | 2,836 | 2,836 | |||||
Net earnings attributable to nonredeemable noncontrolling interest | 53 | ||||||
Net Earnings, Including Portion Attributable to Nonredeemable Noncontrolling Interest | 2,889 | ||||||
Other comprehensive income (loss) | (308) | (307) | (1) | ||||
Issuances of common stock, and related tax effects (in shares) | 5 | ||||||
Issuances of common stock, and related tax effects | 415 | $ 0 | 415 | ||||
Share-based compensation | 206 | 206 | |||||
Common share repurchases (in shares) | (12) | ||||||
Common share repurchases | (2,650) | $ 0 | (2,324) | (326) | |||
Cash dividends paid on common shares | (722) | (722) | |||||
Acquisition of nonredeemable noncontrolling interests | 423 | 423 | |||||
Distribution to nonredeemable noncontrolling interest | (50) | (50) | |||||
Balance at Mar. 31, 2018 | $ 50,036 | $ 10 | $ 0 | $ 50,494 | $ (296) | $ (2,655) | $ 2,483 |
Balance (in shares) at Mar. 31, 2018 | 962 | 962 |
Condensed Consolidated Stateme7
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Operating activities | ||
Net earnings | $ 2,924 | $ 2,191 |
Noncash items: | ||
Depreciation and amortization | 582 | 533 |
Deferred income taxes | (74) | (89) |
Share-based compensation | 208 | 196 |
Other, net | 27 | 43 |
Net change in other operating items, net of effects from acquisitions and changes in AARP balances: | ||
Accounts receivable | (1,579) | (1,232) |
Other assets | (3,232) | (998) |
Medical costs payable | 1,313 | 1,024 |
Accounts payable and other liabilities | 2,821 | 292 |
Unearned revenues | 5,379 | 4,496 |
Cash flows from operating activities | 8,369 | 6,456 |
Investing activities | ||
Purchases of investments | (3,891) | (3,683) |
Sales of investments | 1,002 | 1,018 |
Maturities of investments | 1,504 | 1,326 |
Cash paid for acquisitions, net of cash assumed | (2,583) | (468) |
Purchases of property, equipment and capitalized software | (477) | (507) |
Other, net | (72) | 25 |
Cash flows used for investing activities | (4,517) | (2,289) |
Financing activities | ||
Common share repurchases | (2,650) | (682) |
Cash dividends paid | (722) | (596) |
Proceeds from common stock issuances | 295 | 270 |
Repayments of long-term debt | (1,100) | (1,392) |
Proceeds from (repayments of) commercial paper, net | 4,259 | (139) |
Proceeds from issuance of long-term debt | 0 | 1,342 |
Customer funds administered | 2,962 | 3,217 |
Other, net | (622) | (495) |
Cash flows from financing activities | 2,422 | 1,525 |
Effect of exchange rate changes on cash and cash equivalents | (12) | 20 |
Increase in cash and cash equivalents | 6,262 | 5,712 |
Cash and cash equivalents, beginning of period | 11,981 | 10,430 |
Cash and cash equivalents, end of period | 18,243 | 16,142 |
Supplemental Schedule of Noncash Investing Activities | ||
Common stock issued for acquisition | $ 0 | $ 1,860 |
Basis of Presentation (Notes)
Basis of Presentation (Notes) | 3 Months Ended |
Mar. 31, 2018 | |
Basis of Presentation and Significant Accounting Policies [Text Block] | Basis of Presentation UnitedHealth Group Incorporated (individually and together with its subsidiaries, “UnitedHealth Group” and the “Company”) is a diversified health care company dedicated to helping people live healthier lives and helping make the health system work better for everyone. Through its diversified family of businesses, the Company leverages core competencies in data and health information; advanced technology; and clinical expertise to help meet the demands of the health system. These core competencies are deployed within two distinct, but strategically aligned, business platforms: health benefits operating under UnitedHealthcare and health services operating under Optum. 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, 2017 as filed with the SEC ( 2017 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 medical costs payable, revenues, and goodwill and other intangible assets. 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. 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, ASU 2016-02 will not have a material impact on the Company’s balance sheet, results of operations, equity or cash flows. Recently Adopted Accounting Standards 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). Most notably, the new guidance requires that equity investments, with certain exemptions, be measured at fair value with changes in fair value recognized in net income as opposed to other comprehensive income. The Company adopted ASU 2016-01 on a prospective basis effective January 1, 2018, as required, and reclassified $24 million from accumulated other comprehensive income to retained earnings. The Company has determined that there have been no other recently adopted or issued accounting standards that had, or will have, a material impact on its Condensed Consolidated Financial Statements. |
Investments (Notes)
Investments (Notes) | 3 Months Ended |
Mar. 31, 2018 | |
Investments [Abstract] | |
Investments [Text Block] | Investments A summary of debt securities by major security type is as follows: (in millions) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value March 31, 2018 Debt securities - available-for-sale: U.S. government and agency obligations $ 2,939 $ 1 $ (54 ) $ 2,886 State and municipal obligations 7,190 43 (94 ) 7,139 Corporate obligations 14,411 15 (167 ) 14,259 U.S. agency mortgage-backed securities 4,423 3 (110 ) 4,316 Non-U.S. agency mortgage-backed securities 1,162 — (20 ) 1,142 Total debt securities - available-for-sale 30,125 62 (445 ) 29,742 Debt securities - held-to-maturity: U.S. government and agency obligations 249 1 (2 ) 248 State and municipal obligations 2 — — 2 Corporate obligations 340 — — 340 Total debt securities - held-to-maturity 591 1 (2 ) 590 Total debt securities $ 30,716 $ 63 $ (447 ) $ 30,332 December 31, 2017 Debt securities - available-for-sale: U.S. government and agency obligations $ 2,673 $ 1 $ (30 ) $ 2,644 State and municipal obligations 7,596 99 (35 ) 7,660 Corporate obligations 13,181 57 (44 ) 13,194 U.S. agency mortgage-backed securities 3,942 7 (38 ) 3,911 Non-U.S. agency mortgage-backed securities 1,018 3 (6 ) 1,015 Total debt securities - available-for-sale 28,410 167 (153 ) 28,424 Debt securities - held-to-maturity: U.S. government and agency obligations 254 1 (1 ) 254 State and municipal obligations 2 — — 2 Corporate obligations 280 — — 280 Total debt securities - held-to-maturity 536 1 (1 ) 536 Total debt securities $ 28,946 $ 168 $ (154 ) $ 28,960 The Company held $ 1.9 billion and $2.0 billion of equity securities as of March 31, 2018 and December 31, 2017, respectively. The Company’s investments in equity securities primarily consist of investments in Brazilian real denominated fixed-income funds, employee savings plan related investments and dividend paying stocks, with readily determinable fair values. Additionally, the Company’s investments included $ 959 million and $898 million of equity method investments in operating businesses in the health care sector as of March 31, 2018 and December 31, 2017, respectively. The amortized cost and fair value of debt securities as of March 31, 2018 , 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 $ 3,923 $ 3,915 $ 135 $ 135 Due after one year through five years 11,400 11,273 202 200 Due after five years through ten years 6,874 6,766 103 103 Due after ten years 2,343 2,330 151 152 U.S. agency mortgage-backed securities 4,423 4,316 — — Non-U.S. agency mortgage-backed securities 1,162 1,142 — — Total debt securities $ 30,125 $ 29,742 $ 591 $ 590 The fair value of available-for-sale debt securities with gross unrealized losses by 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, 2018 Debt securities - available-for-sale: U.S. government and agency obligations $ 1,787 $ (25 ) $ 945 $ (29 ) $ 2,732 $ (54 ) State and municipal obligations 3,958 (66 ) 781 (28 ) 4,739 (94 ) Corporate obligations 9,998 (129 ) 1,193 (38 ) 11,191 (167 ) U.S. agency mortgage-backed securities 2,775 (61 ) 1,127 (49 ) 3,902 (110 ) Non-U.S. agency mortgage-backed securities 863 (15 ) 136 (5 ) 999 (20 ) Total debt securities - available-for-sale $ 19,381 $ (296 ) $ 4,182 $ (149 ) $ 23,563 $ (445 ) December 31, 2017 Debt securities - available-for-sale: U.S. government and agency obligations $ 1,249 $ (8 ) $ 1,027 $ (22 ) $ 2,276 $ (30 ) State and municipal obligations 2,599 (21 ) 866 (14 ) 3,465 (35 ) Corporate obligations 5,901 (23 ) 1,242 (21 ) 7,143 (44 ) U.S. agency mortgage-backed securities 1,657 (12 ) 1,162 (26 ) 2,819 (38 ) Non-U.S. agency mortgage-backed securities 411 (3 ) 144 (3 ) 555 (6 ) Total debt securities - available-for-sale $ 11,817 $ (67 ) $ 4,441 $ (86 ) $ 16,258 $ (153 ) The Company’s unrealized losses from debt securities as of March 31, 2018 were generated from 18,000 positions out of a total of 28,000 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, 2018 , 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. |
Fair Value (Notes)
Fair Value (Notes) | 3 Months Ended |
Mar. 31, 2018 | |
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 2017 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, 2018 Cash and cash equivalents $ 16,249 $ 1,994 $ — $ 18,243 Debt securities - available-for-sale: U.S. government and agency obligations 2,631 255 — 2,886 State and municipal obligations — 7,139 — 7,139 Corporate obligations 50 14,068 141 14,259 U.S. agency mortgage-backed securities — 4,316 — 4,316 Non-U.S. agency mortgage-backed securities — 1,142 — 1,142 Total debt securities - available-for-sale 2,681 26,920 141 29,742 Equity securities 1,791 13 143 1,947 Assets under management 950 1,972 — 2,922 Total assets at fair value $ 21,671 $ 30,899 $ 284 $ 52,854 Percentage of total assets at fair value 41 % 58 % 1 % 100 % December 31, 2017 Cash and cash equivalents $ 11,718 $ 263 $ — $ 11,981 Debt securities - available-for-sale: U.S. government and agency obligations 2,428 216 — 2,644 State and municipal obligations — 7,660 — 7,660 Corporate obligations 65 12,989 140 13,194 U.S. agency mortgage-backed securities — 3,911 — 3,911 Non-U.S. agency mortgage-backed securities — 1,015 — 1,015 Total debt securities - available-for-sale 2,493 25,791 140 28,424 Equity securities 1,784 14 194 1,992 Assets under management 1,117 1,984 — 3,101 Total assets at fair value $ 17,112 $ 28,052 $ 334 $ 45,498 Percentage of total assets at fair value 38 % 61 % 1 % 100 % 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, 2018 or 2017 . 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, 2018 Debt securities - held-to-maturity $ 260 $ 66 $ 264 $ 590 $ 591 Long-term debt and other financing obligations $ — $ 32,892 $ — $ 32,892 $ 31,162 December 31, 2017 Debt securities - held-to-maturity $ 267 $ 4 $ 265 $ 536 $ 536 Long-term debt and other financing obligations $ — $ 34,504 $ — $ 34,504 $ 31,542 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, 2018 or 2017 . |
Medical Costs Payable (Notes)
Medical Costs Payable (Notes) | 3 Months Ended |
Mar. 31, 2018 | |
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) 2018 2017 Medical costs payable, beginning of period $ 17,871 $ 16,391 Acquisitions 211 76 Reported medical costs: Current year 36,153 32,529 Prior years (290 ) (450 ) Total reported medical costs 35,863 32,079 Medical payments: Payments for current year (21,237 ) (18,742 ) Payments for prior years (13,119 ) (12,154 ) Total medical payments (34,356 ) (30,896 ) Medical costs payable, end of period $ 19,589 $ 17,650 For the three months ended March 31, 2018 and 2017 , the medical cost reserve development included no individual factors that were significant. Medical costs payable included reserves for claims incurred by insured customers but not yet reported to the Company of $13.3 billion and $12.3 billion at March 31, 2018 and December 31, 2017, respectively. |
Commercial Paper and Long-Term
Commercial Paper and Long-Term Debt (Notes) | 3 Months Ended |
Mar. 31, 2018 | |
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, 2018 December 31, 2017 (in millions, except percentages) Par Carrying Value Fair Value Par Value Carrying Fair Value Commercial paper $ 4,427 $ 4,423 $ 4,423 $ 150 $ 150 $ 150 6.000% notes due February 2018 — — — 1,100 1,101 1,106 1.900% notes due July 2018 1,500 1,499 1,498 1,500 1,499 1,501 1.700% notes due February 2019 750 749 744 750 749 747 1.625% notes due March 2019 500 501 495 500 501 497 2.300% notes due December 2019 500 491 495 500 495 501 2.700% notes due July 2020 1,500 1,497 1,493 1,500 1,496 1,517 Floating rate notes due October 2020 300 299 299 300 299 300 3.875% notes due October 2020 450 441 459 450 446 467 1.950% notes due October 2020 900 896 879 900 895 892 4.700% notes due February 2021 400 398 418 400 403 425 2.125% notes due March 2021 750 747 731 750 746 744 3.375% notes due November 2021 500 485 504 500 493 516 2.875% notes due December 2021 750 729 743 750 741 760 2.875% notes due March 2022 1,100 1,037 1,088 1,100 1,054 1,114 3.350% notes due July 2022 1,000 996 1,005 1,000 996 1,033 2.375% notes due October 2022 900 893 866 900 893 891 0.000% notes due November 2022 15 12 12 15 12 12 2.750% notes due February 2023 625 594 611 625 606 626 2.875% notes due March 2023 750 745 738 750 762 759 3.750% notes due July 2025 2,000 1,988 2,026 2,000 1,987 2,108 3.100% notes due March 2026 1,000 995 969 1,000 995 1,007 3.450% notes due January 2027 750 745 743 750 745 776 3.375% notes due April 2027 625 619 615 625 618 642 2.950% notes due October 2027 950 937 903 950 937 947 4.625% notes due July 2035 1,000 991 1,094 1,000 991 1,165 5.800% notes due March 2036 850 838 1,042 850 837 1,105 6.500% notes due June 2037 500 492 660 500 491 698 6.625% notes due November 2037 650 641 869 650 641 923 6.875% notes due February 2038 1,100 1,075 1,511 1,100 1,075 1,596 5.700% notes due October 2040 300 296 371 300 296 389 5.950% notes due February 2041 350 345 443 350 345 466 4.625% notes due November 2041 600 588 644 600 588 685 4.375% notes due March 2042 502 483 524 502 483 555 3.950% notes due October 2042 625 607 614 625 607 650 4.250% notes due March 2043 750 734 771 750 734 822 4.750% notes due July 2045 2,000 1,972 2,201 2,000 1,972 2,362 4.200% notes due January 2047 750 738 759 750 738 808 4.250% notes due April 2047 725 717 741 725 717 798 3.750% notes due October 2047 950 933 895 950 933 969 Total commercial paper and long-term debt $ 34,594 $ 34,166 $ 35,896 $ 31,417 $ 31,067 $ 34,029 The Company’s long-term debt obligations included $ 1.4 billion and $625 million of other financing obligations, of which $207 million and $107 million were classified as current as of March 31, 2018 and December 31, 2017 , 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, 2018 , the Company’s outstanding commercial paper had a weighted-average annual interest rate of 2.0% . The Company has $3.0 billion five-year, $3.0 billion three-year and $4.0 billion 364-day revolving bank credit facilities with 26 banks, which mature in December 2022 , December 2020 and December 2018, respectively. These facilities provide liquidity support for the Company’s commercial paper program and are available for general corporate purposes. As of March 31, 2018 , 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, 2018 , annual interest rates would have ranged from 2.7% to 3.3% . 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, 2018 . |
Commitments and Contingencies (
Commitments and Contingencies (Notes) | 3 Months Ended |
Mar. 31, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies Disclosure [Text Block] | Commitments and Contingencies Legal Matters Because of the nature of its businesses, the Company is frequently made party to a variety of legal actions and regulatory inquiries, including class actions and suits brought by members, care providers, consumer advocacy organizations, customers and regulators, relating to the Company’s businesses, including management and administration of health benefit plans and other services. These matters include medical malpractice, employment, intellectual property, antitrust, privacy and contract claims and claims related to health care benefits coverage and other business practices. The Company records liabilities for its estimates of probable costs resulting from these matters where appropriate. Estimates of costs resulting from legal and regulatory matters involving the Company are inherently difficult to predict, particularly where the matters: involve indeterminate claims for monetary damages or may involve fines, penalties or punitive damages; present novel legal theories or represent a shift in regulatory policy; involve a large number of claimants or regulatory bodies; are in the early stages of the proceedings; or could result in a change in business practices. Accordingly, the Company is often unable to estimate the losses or ranges of losses for those matters where there is a reasonable possibility or it is probable that a loss may be incurred. Government Investigations, Audits and Reviews The Company has been involved or is currently involved in various governmental investigations, audits and reviews. These include routine, regular and special investigations, audits and reviews by the Centers for Medicare and Medicaid Services (CMS), state insurance and health and welfare departments, 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 made improper risk adjustment submissions and violated the False Claims Act. On February 12, 2018, the court granted in part and denied in part the Company’s motion to dismiss. The Company cannot reasonably estimate the outcome that may result from this matter given its procedural status. |
Segment Financial Information (
Segment Financial Information (Notes) | 3 Months Ended |
Mar. 31, 2018 | |
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 2017 10-K. 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, 2018 Revenues - unaffiliated customers: Premiums $ 43,237 $ 847 $ — $ — $ — $ 847 $ — $ 44,084 Products — 12 23 6,667 — 6,702 — 6,702 Services 2,039 1,188 740 137 — 2,065 — 4,104 Total revenues - unaffiliated customers 45,276 2,047 763 6,804 — 9,614 — 54,890 Total revenues - affiliated customers — 3,606 1,304 9,295 (333 ) 13,872 (13,872 ) — Investment and other income 183 106 2 7 — 115 — 298 Total revenues $ 45,459 $ 5,759 $ 2,069 $ 16,106 $ (333 ) $ 23,601 $ (13,872 ) $ 55,188 Earnings from operations $ 2,400 $ 488 $ 395 $ 770 $ — $ 1,653 $ — $ 4,053 Interest expense — — — — — — (329 ) (329 ) Earnings before income taxes $ 2,400 $ 488 $ 395 $ 770 $ — $ 1,653 $ (329 ) $ 3,724 Three Months Ended March 31, 2017 Revenues - unaffiliated 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 - unaffiliated customers 39,975 1,618 663 6,245 — 8,526 — 48,501 Total revenues - affiliated customers — 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 |
Basis of Presentation Basis of
Basis of Presentation Basis of Presentation (Policies) | 3 Months Ended |
Mar. 31, 2018 | |
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, 2017 as filed with the SEC ( 2017 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 medical costs payable, revenues, and goodwill and other intangible assets. 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. |
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, ASU 2016-02 will not have a material impact on the Company’s balance sheet, results of operations, equity or cash flows. Recently Adopted Accounting Standards 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). Most notably, the new guidance requires that equity investments, with certain exemptions, be measured at fair value with changes in fair value recognized in net income as opposed to other comprehensive income. The Company adopted ASU 2016-01 on a prospective basis effective January 1, 2018, as required, and reclassified $24 million from accumulated other comprehensive income to retained earnings. The Company has determined that there have been no other recently adopted or issued accounting standards that had, or will have, a material impact on its Condensed Consolidated Financial Statements. |
Investments Investments (Polici
Investments Investments (Policies) | 3 Months Ended |
Mar. 31, 2018 | |
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, 2018 , 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, 2018 | |
Short-Term and Long-Term Investments [Table Text Block] | A summary of debt securities by major security type is as follows: (in millions) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value March 31, 2018 Debt securities - available-for-sale: U.S. government and agency obligations $ 2,939 $ 1 $ (54 ) $ 2,886 State and municipal obligations 7,190 43 (94 ) 7,139 Corporate obligations 14,411 15 (167 ) 14,259 U.S. agency mortgage-backed securities 4,423 3 (110 ) 4,316 Non-U.S. agency mortgage-backed securities 1,162 — (20 ) 1,142 Total debt securities - available-for-sale 30,125 62 (445 ) 29,742 Debt securities - held-to-maturity: U.S. government and agency obligations 249 1 (2 ) 248 State and municipal obligations 2 — — 2 Corporate obligations 340 — — 340 Total debt securities - held-to-maturity 591 1 (2 ) 590 Total debt securities $ 30,716 $ 63 $ (447 ) $ 30,332 December 31, 2017 Debt securities - available-for-sale: U.S. government and agency obligations $ 2,673 $ 1 $ (30 ) $ 2,644 State and municipal obligations 7,596 99 (35 ) 7,660 Corporate obligations 13,181 57 (44 ) 13,194 U.S. agency mortgage-backed securities 3,942 7 (38 ) 3,911 Non-U.S. agency mortgage-backed securities 1,018 3 (6 ) 1,015 Total debt securities - available-for-sale 28,410 167 (153 ) 28,424 Debt securities - held-to-maturity: U.S. government and agency obligations 254 1 (1 ) 254 State and municipal obligations 2 — — 2 Corporate obligations 280 — — 280 Total debt securities - held-to-maturity 536 1 (1 ) 536 Total debt securities $ 28,946 $ 168 $ (154 ) $ 28,960 |
Investments by Contractual Maturity [Table Text Block] | The amortized cost and fair value of debt securities as of March 31, 2018 , 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 $ 3,923 $ 3,915 $ 135 $ 135 Due after one year through five years 11,400 11,273 202 200 Due after five years through ten years 6,874 6,766 103 103 Due after ten years 2,343 2,330 151 152 U.S. agency mortgage-backed securities 4,423 4,316 — — Non-U.S. agency mortgage-backed securities 1,162 1,142 — — Total debt securities $ 30,125 $ 29,742 $ 591 $ 590 |
Fair Value of Available-for-Sale Investments with Gross Unrealized Losses by Investment Type and Length of Time that Individual Securities have been in a Continuous Unrealized Loss Position [Table Text Block] | The fair value of available-for-sale debt securities with gross unrealized losses by 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, 2018 Debt securities - available-for-sale: U.S. government and agency obligations $ 1,787 $ (25 ) $ 945 $ (29 ) $ 2,732 $ (54 ) State and municipal obligations 3,958 (66 ) 781 (28 ) 4,739 (94 ) Corporate obligations 9,998 (129 ) 1,193 (38 ) 11,191 (167 ) U.S. agency mortgage-backed securities 2,775 (61 ) 1,127 (49 ) 3,902 (110 ) Non-U.S. agency mortgage-backed securities 863 (15 ) 136 (5 ) 999 (20 ) Total debt securities - available-for-sale $ 19,381 $ (296 ) $ 4,182 $ (149 ) $ 23,563 $ (445 ) December 31, 2017 Debt securities - available-for-sale: U.S. government and agency obligations $ 1,249 $ (8 ) $ 1,027 $ (22 ) $ 2,276 $ (30 ) State and municipal obligations 2,599 (21 ) 866 (14 ) 3,465 (35 ) Corporate obligations 5,901 (23 ) 1,242 (21 ) 7,143 (44 ) U.S. agency mortgage-backed securities 1,657 (12 ) 1,162 (26 ) 2,819 (38 ) Non-U.S. agency mortgage-backed securities 411 (3 ) 144 (3 ) 555 (6 ) Total debt securities - available-for-sale $ 11,817 $ (67 ) $ 4,441 $ (86 ) $ 16,258 $ (153 ) |
Fair Value (Tables)
Fair Value (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
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, 2018 Cash and cash equivalents $ 16,249 $ 1,994 $ — $ 18,243 Debt securities - available-for-sale: U.S. government and agency obligations 2,631 255 — 2,886 State and municipal obligations — 7,139 — 7,139 Corporate obligations 50 14,068 141 14,259 U.S. agency mortgage-backed securities — 4,316 — 4,316 Non-U.S. agency mortgage-backed securities — 1,142 — 1,142 Total debt securities - available-for-sale 2,681 26,920 141 29,742 Equity securities 1,791 13 143 1,947 Assets under management 950 1,972 — 2,922 Total assets at fair value $ 21,671 $ 30,899 $ 284 $ 52,854 Percentage of total assets at fair value 41 % 58 % 1 % 100 % December 31, 2017 Cash and cash equivalents $ 11,718 $ 263 $ — $ 11,981 Debt securities - available-for-sale: U.S. government and agency obligations 2,428 216 — 2,644 State and municipal obligations — 7,660 — 7,660 Corporate obligations 65 12,989 140 13,194 U.S. agency mortgage-backed securities — 3,911 — 3,911 Non-U.S. agency mortgage-backed securities — 1,015 — 1,015 Total debt securities - available-for-sale 2,493 25,791 140 28,424 Equity securities 1,784 14 194 1,992 Assets under management 1,117 1,984 — 3,101 Total assets at fair value $ 17,112 $ 28,052 $ 334 $ 45,498 Percentage of total assets at fair value 38 % 61 % 1 % 100 % |
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, 2018 Debt securities - held-to-maturity $ 260 $ 66 $ 264 $ 590 $ 591 Long-term debt and other financing obligations $ — $ 32,892 $ — $ 32,892 $ 31,162 December 31, 2017 Debt securities - held-to-maturity $ 267 $ 4 $ 265 $ 536 $ 536 Long-term debt and other financing obligations $ — $ 34,504 $ — $ 34,504 $ 31,542 |
Medical Costs Payable (Tables)
Medical Costs Payable (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
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) 2018 2017 Medical costs payable, beginning of period $ 17,871 $ 16,391 Acquisitions 211 76 Reported medical costs: Current year 36,153 32,529 Prior years (290 ) (450 ) Total reported medical costs 35,863 32,079 Medical payments: Payments for current year (21,237 ) (18,742 ) Payments for prior years (13,119 ) (12,154 ) Total medical payments (34,356 ) (30,896 ) Medical costs payable, end of period $ 19,589 $ 17,650 |
Commercial Paper and Long-Ter20
Commercial Paper and Long-Term Debt (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
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, 2018 December 31, 2017 (in millions, except percentages) Par Carrying Value Fair Value Par Value Carrying Fair Value Commercial paper $ 4,427 $ 4,423 $ 4,423 $ 150 $ 150 $ 150 6.000% notes due February 2018 — — — 1,100 1,101 1,106 1.900% notes due July 2018 1,500 1,499 1,498 1,500 1,499 1,501 1.700% notes due February 2019 750 749 744 750 749 747 1.625% notes due March 2019 500 501 495 500 501 497 2.300% notes due December 2019 500 491 495 500 495 501 2.700% notes due July 2020 1,500 1,497 1,493 1,500 1,496 1,517 Floating rate notes due October 2020 300 299 299 300 299 300 3.875% notes due October 2020 450 441 459 450 446 467 1.950% notes due October 2020 900 896 879 900 895 892 4.700% notes due February 2021 400 398 418 400 403 425 2.125% notes due March 2021 750 747 731 750 746 744 3.375% notes due November 2021 500 485 504 500 493 516 2.875% notes due December 2021 750 729 743 750 741 760 2.875% notes due March 2022 1,100 1,037 1,088 1,100 1,054 1,114 3.350% notes due July 2022 1,000 996 1,005 1,000 996 1,033 2.375% notes due October 2022 900 893 866 900 893 891 0.000% notes due November 2022 15 12 12 15 12 12 2.750% notes due February 2023 625 594 611 625 606 626 2.875% notes due March 2023 750 745 738 750 762 759 3.750% notes due July 2025 2,000 1,988 2,026 2,000 1,987 2,108 3.100% notes due March 2026 1,000 995 969 1,000 995 1,007 3.450% notes due January 2027 750 745 743 750 745 776 3.375% notes due April 2027 625 619 615 625 618 642 2.950% notes due October 2027 950 937 903 950 937 947 4.625% notes due July 2035 1,000 991 1,094 1,000 991 1,165 5.800% notes due March 2036 850 838 1,042 850 837 1,105 6.500% notes due June 2037 500 492 660 500 491 698 6.625% notes due November 2037 650 641 869 650 641 923 6.875% notes due February 2038 1,100 1,075 1,511 1,100 1,075 1,596 5.700% notes due October 2040 300 296 371 300 296 389 5.950% notes due February 2041 350 345 443 350 345 466 4.625% notes due November 2041 600 588 644 600 588 685 4.375% notes due March 2042 502 483 524 502 483 555 3.950% notes due October 2042 625 607 614 625 607 650 4.250% notes due March 2043 750 734 771 750 734 822 4.750% notes due July 2045 2,000 1,972 2,201 2,000 1,972 2,362 4.200% notes due January 2047 750 738 759 750 738 808 4.250% notes due April 2047 725 717 741 725 717 798 3.750% notes due October 2047 950 933 895 950 933 969 Total commercial paper and long-term debt $ 34,594 $ 34,166 $ 35,896 $ 31,417 $ 31,067 $ 34,029 |
Segment Financial Information21
Segment Financial Information (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
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, 2018 Revenues - unaffiliated customers: Premiums $ 43,237 $ 847 $ — $ — $ — $ 847 $ — $ 44,084 Products — 12 23 6,667 — 6,702 — 6,702 Services 2,039 1,188 740 137 — 2,065 — 4,104 Total revenues - unaffiliated customers 45,276 2,047 763 6,804 — 9,614 — 54,890 Total revenues - affiliated customers — 3,606 1,304 9,295 (333 ) 13,872 (13,872 ) — Investment and other income 183 106 2 7 — 115 — 298 Total revenues $ 45,459 $ 5,759 $ 2,069 $ 16,106 $ (333 ) $ 23,601 $ (13,872 ) $ 55,188 Earnings from operations $ 2,400 $ 488 $ 395 $ 770 $ — $ 1,653 $ — $ 4,053 Interest expense — — — — — — (329 ) (329 ) Earnings before income taxes $ 2,400 $ 488 $ 395 $ 770 $ — $ 1,653 $ (329 ) $ 3,724 Three Months Ended March 31, 2017 Revenues - unaffiliated 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 - unaffiliated customers 39,975 1,618 663 6,245 — 8,526 — 48,501 Total revenues - affiliated customers — 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 |
Basis of Presentation Basis o22
Basis of Presentation Basis of Presentation, Uses of Estimates and Significant Accounting Policies (Details) - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | |
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | $ 24 | $ 0 | |
Accounting Standards Update 2016-01 [Member] | |||
New Accounting Pronouncement or Change in Accounting Principle, Description of Transition Method | Prospective | ||
New Accounting Pronouncement, Transition Guidance Not Significant or Not Practical | Impact is not material | ||
Accounting Standards Update 2016-02 [Member] | |||
New Accounting Pronouncement or Change in Accounting Principle, Description of Transition Method | Modified Retrospective | ||
New Accounting Pronouncement, Transition Guidance Not Significant or Not Practical | Impact is not material |
Investments (Narrative) (Detail
Investments (Narrative) (Details) $ in Millions | Mar. 31, 2018USD ($)positions | Dec. 31, 2017USD ($) |
Investment [Line Items] | ||
Equity Securities | $ 1,947 | $ 1,992 |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | positions | 18,000 | |
Total number of security positions | 28,000 | |
Equity Method Investments | $ 959 | $ 898 |
Investments (Short-Term and Lon
Investments (Short-Term and Long-Term Investments) (Details) - USD ($) $ in Millions | Mar. 31, 2018 | Dec. 31, 2017 |
Schedule of Investments [Line Items] | ||
Available-for-sale Debt Securities, Amortized Cost Basis | $ 30,125 | $ 28,410 |
Securities, Available for sale Debt Securities, Gross Unrealized Gains | 62 | 167 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax | (445) | (153) |
Available-for-sale Securities, Debt Securities | 29,742 | 28,424 |
Held-to-maturity securities, Amortized Cost | 591 | 536 |
Securities, Held to maturity, Unrecognized Holding Gain | 1 | 1 |
Held-to-maturity Securities, Accumulated Unrecognized Holding Loss | (2) | (1) |
Held-to-maturity Securities, Fair Value | 590 | 536 |
Total debt securities, Amortized Cost | 30,716 | 28,946 |
Total debt securities, Gross Unrealized Gains | 63 | 168 |
Total debt securities, Gross Unrealized Losses | (447) | (154) |
Debt securities, Fair Value Disclosure | 30,332 | 28,960 |
Debt Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Available-for-sale Securities, Debt Securities | 29,742 | 28,424 |
U.S. Government and Agency Obligations [Member] | ||
Schedule of Investments [Line Items] | ||
Available-for-sale Debt Securities, Amortized Cost Basis | 2,939 | 2,673 |
Securities, Available for sale Debt Securities, Gross Unrealized Gains | 1 | 1 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax | (54) | (30) |
Available-for-sale Securities, Debt Securities | 2,886 | 2,644 |
Held-to-maturity securities, Amortized Cost | 249 | 254 |
Securities, Held to maturity, Unrecognized Holding Gain | 1 | 1 |
Held-to-maturity Securities, Accumulated Unrecognized Holding Loss | (2) | (1) |
Held-to-maturity Securities, Fair Value | 248 | 254 |
State and Municipal Obligations [Member] | ||
Schedule of Investments [Line Items] | ||
Available-for-sale Debt Securities, Amortized Cost Basis | 7,190 | 7,596 |
Securities, Available for sale Debt Securities, Gross Unrealized Gains | 43 | 99 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax | (94) | (35) |
Available-for-sale Securities, Debt Securities | 7,139 | 7,660 |
Held-to-maturity securities, Amortized Cost | 2 | 2 |
Securities, Held to maturity, Unrecognized Holding Gain | 0 | 0 |
Held-to-maturity Securities, Accumulated Unrecognized Holding Loss | 0 | 0 |
Held-to-maturity Securities, Fair Value | 2 | 2 |
Corporate Obligations [Member] | ||
Schedule of Investments [Line Items] | ||
Available-for-sale Debt Securities, Amortized Cost Basis | 14,411 | 13,181 |
Securities, Available for sale Debt Securities, Gross Unrealized Gains | 15 | 57 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax | (167) | (44) |
Available-for-sale Securities, Debt Securities | 14,259 | 13,194 |
Held-to-maturity securities, Amortized Cost | 340 | 280 |
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 | 340 | 280 |
U.S. Agency Mortgage-Backed Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Available-for-sale Debt Securities, Amortized Cost Basis | 4,423 | 3,942 |
Securities, Available for sale Debt Securities, Gross Unrealized Gains | 3 | 7 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax | (110) | (38) |
Available-for-sale Securities, Debt Securities | 4,316 | 3,911 |
Non-U.S. Agency Mortgage-Backed Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Available-for-sale Debt Securities, Amortized Cost Basis | 1,162 | 1,018 |
Securities, Available for sale Debt Securities, Gross Unrealized Gains | 0 | 3 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax | (20) | (6) |
Available-for-sale Securities, Debt Securities | $ 1,142 | $ 1,015 |
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, 2018 | Dec. 31, 2017 |
Schedule of Investments [Line Items] | ||
Due in one year or less, Amortized Cost | $ 3,923 | |
Due after one year through five years, Amortized Cost | 11,400 | |
Due after five years through ten years, Amortized Cost | 6,874 | |
Due after ten years, Amortized Cost | 2,343 | |
Total debt securities - available-for-sale, Amortized Cost | 30,125 | $ 28,410 |
Due in one year or less, Fair Value | 3,915 | |
Due after one year through five years, Fair Value | 11,273 | |
Due after five years through ten years, Fair Value | 6,766 | |
Due after ten years, Fair Value | 2,330 | |
Available-for-sale Securities, Debt Securities | 29,742 | 28,424 |
Held-to-maturity Securities, Debt Maturities, within One Year, Net Carrying Amount | 135 | |
Held-to-maturity Securities, Debt Maturities, after One Through Five Years, Net Carrying Amount | 202 | |
Held-to-maturity Securities, Debt Maturities, after Five Through Ten Years, Net Carrying Amount | 103 | |
Held-to-maturity Securities, Debt Maturities, after Ten Years, Net Carrying Amount | 151 | |
Held-to-maturity securities, Amortized Cost | 591 | 536 |
Held-to-maturity Securities, Debt Maturities, within One Year, Fair Value | 135 | |
Held-to-maturity Securities, Debt Maturities, Year Two Through Five, Fair Value | 200 | |
Held-to-maturity Securities, Debt Maturities, Year Six Through Ten, Fair Value | 103 | |
Held-to-maturity Securities, Debt Maturities, after Ten Years, Fair Value | 152 | |
Held-to-maturity Securities, Fair Value | 590 | 536 |
U.S. Agency Mortgage-Backed Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Mortgage-backed securities, Amortized Cost | 4,423 | |
Total debt securities - available-for-sale, Amortized Cost | 4,423 | 3,942 |
Mortgage-backed securities, Fair Value | 4,316 | |
Available-for-sale Securities, Debt Securities | 4,316 | 3,911 |
Non-U.S. Agency Mortgage-Backed Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Mortgage-backed securities, Amortized Cost | 1,162 | |
Total debt securities - available-for-sale, Amortized Cost | 1,162 | 1,018 |
Mortgage-backed securities, Fair Value | 1,142 | |
Available-for-sale Securities, Debt Securities | $ 1,142 | $ 1,015 |
Investments (Fair Value of Avai
Investments (Fair Value of Available-For-Sale Investments with Gross Unrealized Losses by Investment Type and Length of Time That Individual Securities Have Been in a Continuous Unrealized Loss Position) (Details) - USD ($) $ in Millions | Mar. 31, 2018 | Dec. 31, 2017 |
Debt Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Less Than 12 Months, Fair Value | $ 19,381 | $ 11,817 |
Less Than 12 Months, Gross Unrealized Losses | (296) | (67) |
Greater Than 12 Months, Fair Value | 4,182 | 4,441 |
Greater Than 12 Months, Gross Unrealized Losses | (149) | (86) |
Total, Fair Value | 23,563 | 16,258 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (445) | (153) |
U.S. Government and Agency Obligations [Member] | ||
Schedule of Investments [Line Items] | ||
Less Than 12 Months, Fair Value | 1,787 | 1,249 |
Less Than 12 Months, Gross Unrealized Losses | (25) | (8) |
Greater Than 12 Months, Fair Value | 945 | 1,027 |
Greater Than 12 Months, Gross Unrealized Losses | (29) | (22) |
Total, Fair Value | 2,732 | 2,276 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (54) | (30) |
State and Municipal Obligations [Member] | ||
Schedule of Investments [Line Items] | ||
Less Than 12 Months, Fair Value | 3,958 | 2,599 |
Less Than 12 Months, Gross Unrealized Losses | (66) | (21) |
Greater Than 12 Months, Fair Value | 781 | 866 |
Greater Than 12 Months, Gross Unrealized Losses | (28) | (14) |
Total, Fair Value | 4,739 | 3,465 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (94) | (35) |
Corporate Obligations [Member] | ||
Schedule of Investments [Line Items] | ||
Less Than 12 Months, Fair Value | 9,998 | 5,901 |
Less Than 12 Months, Gross Unrealized Losses | (129) | (23) |
Greater Than 12 Months, Fair Value | 1,193 | 1,242 |
Greater Than 12 Months, Gross Unrealized Losses | (38) | (21) |
Total, Fair Value | 11,191 | 7,143 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (167) | (44) |
U.S. Agency Mortgage-Backed Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Less Than 12 Months, Fair Value | 2,775 | 1,657 |
Less Than 12 Months, Gross Unrealized Losses | (61) | (12) |
Greater Than 12 Months, Fair Value | 1,127 | 1,162 |
Greater Than 12 Months, Gross Unrealized Losses | (49) | (26) |
Total, Fair Value | 3,902 | 2,819 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (110) | (38) |
Non-U.S. Agency Mortgage-Backed Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Less Than 12 Months, Fair Value | 863 | 411 |
Less Than 12 Months, Gross Unrealized Losses | (15) | (3) |
Greater Than 12 Months, Fair Value | 136 | 144 |
Greater Than 12 Months, Gross Unrealized Losses | (5) | (3) |
Total, Fair Value | 999 | 555 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | $ (20) | $ (6) |
Fair Value (Narrative) (Details
Fair Value (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
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, 2018 | Dec. 31, 2017 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and cash equivalents | $ 18,243 | $ 11,981 |
Available-for-sale Securities, Debt Securities | 29,742 | 28,424 |
Equity Securities, Fair Value | 1,947 | 1,992 |
Assets under management | 2,922 | 3,101 |
Total assets at fair value | 52,854 | 45,498 |
Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 29,742 | 28,424 |
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 | 2,886 | 2,644 |
State and Municipal Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 7,139 | 7,660 |
Corporate Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 14,259 | 13,194 |
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 | 4,316 | 3,911 |
Non-U.S. Agency Mortgage-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 1,142 | 1,015 |
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 | 16,249 | 11,718 |
Equity Securities, Fair Value | 1,791 | 1,784 |
Assets under management | 950 | 1,117 |
Total assets at fair value | 21,671 | 17,112 |
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 | 2,681 | 2,493 |
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 | 2,631 | 2,428 |
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 | 50 | 65 |
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 | 1,994 | 263 |
Equity Securities, Fair Value | 13 | 14 |
Assets under management | 1,972 | 1,984 |
Total assets at fair value | 30,899 | 28,052 |
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 | 26,920 | 25,791 |
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 | 255 | 216 |
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 | 7,139 | 7,660 |
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 | 14,068 | 12,989 |
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 | 4,316 | 3,911 |
Other Observable Inputs (Level 2) [Member] | Non-U.S. Agency Mortgage-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 1,142 | 1,015 |
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 | 143 | 194 |
Assets under management | 0 | 0 |
Total assets at fair value | 284 | 334 |
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 | 141 | 140 |
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 | 141 | 140 |
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 29
Fair Value (Financial Assets and Liabilities, Not Measured at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Millions | Mar. 31, 2018 | Dec. 31, 2017 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Held-to-maturity Securities, Fair Value | $ 590 | $ 536 |
Held-to-maturity Securities | 591 | 536 |
Debt and other financing obligations, carrying value | 34,166 | 31,067 |
Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Held-to-maturity Securities, Fair Value | 590 | 536 |
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 | 260 | 267 |
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 | 66 | 4 |
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 | 264 | 265 |
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 | 31,162 | 31,542 |
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 | 32,892 | 34,504 |
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 | 32,892 | 34,504 |
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 |
Medical Costs Payable (Narrativ
Medical Costs Payable (Narrative) (Details) - USD ($) $ in Billions | Mar. 31, 2018 | Dec. 31, 2017 |
Liability for Claims and Claims Adjustment Expense [Line Items] | ||
Liability for Unpaid Claims and Claims Adjustment Expense, Incurred but Not Reported (IBNR) Claims, Amount | $ 13.3 | $ 12.3 |
Medical Costs Payable Rollforwa
Medical Costs Payable Rollforward (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | ||
Medical costs payable, beginning of period | $ 17,871 | $ 16,391 |
Acquisitions | 211 | 76 |
Reported medical costs: | ||
Current year | 36,153 | 32,529 |
Prior years | (290) | (450) |
Total reported medical costs | 35,863 | 32,079 |
Medical payments: | ||
Payments for current year | (21,237) | (18,742) |
Payments for prior years | (13,119) | (12,154) |
Total medical payments | (34,356) | (30,896) |
Medical costs payable, end of period | $ 19,589 | $ 17,650 |
Commercial Paper and Long-Ter32
Commercial Paper and Long-Term Debt (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2018 | Dec. 31, 2017 | |
Minimum [Member] | Revolving Credit Facility [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate During Period | 2.70% | |
Maximum [Member] | Revolving Credit Facility [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate During Period | 3.30% | |
Commercial Paper [Member] | ||
Debt Instrument [Line Items] | ||
Short-term Debt, Weighted Average Interest Rate, at Point in Time | 2.00% | |
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 | |
Three Year 3.0 Billion Credit Facility [Member] | Revolving Credit Facility [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Line of Credit | $ 0 | |
Line of Credit, Credit Facility, Maximum Borrowing Capacity | $ 3,000 | |
Line of Credit Facility, Expiration Period | 3 years | |
364 Day $4.0 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 | $ 4,000 | |
Line of Credit Facility, Expiration Period | 364 days | |
Subsidiaries [Member] | ||
Debt Instrument [Line Items] | ||
Other Long-term Debt | $ 1,400 | $ 625 |
Other Long-term Debt, Current | $ 207 | $ 107 |
Commercial Paper and Long-Ter33
Commercial Paper and Long-Term Debt (Details) - USD ($) $ in Millions | Mar. 31, 2018 | Dec. 31, 2017 |
Debt Instrument [Line Items] | ||
Par Value | $ 34,594 | $ 31,417 |
Carrying Value | 34,166 | 31,067 |
Fair Value | 35,896 | 34,029 |
Commercial Paper [Member] | ||
Debt Instrument [Line Items] | ||
Par Value | 4,427 | 150 |
Carrying Value | 4,423 | 150 |
Fair Value | $ 4,423 | 150 |
6.000% notes due February 2018 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 6.00% | |
Par Value | $ 0 | 1,100 |
Unsecured Debt, Current | 0 | 1,101 |
Fair Value | $ 0 | 1,106 |
1.900% notes due July 2018 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 1.90% | |
Par Value | $ 1,500 | 1,500 |
Unsecured Debt, Current | 1,499 | 1,499 |
Fair Value | $ 1,498 | 1,501 |
1.700% Notes due February 2019 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 1.70% | |
Par Value | $ 750 | 750 |
Unsecured Long-term Debt, Noncurrent | 749 | |
Unsecured Debt, Current | 749 | |
Fair Value | $ 744 | 747 |
1.625% notes due March 2019 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 1.625% | |
Par Value | $ 500 | 500 |
Unsecured Long-term Debt, Noncurrent | 501 | |
Unsecured Debt, Current | 501 | |
Fair Value | $ 495 | 497 |
2.300% notes due December 2019 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 2.30% | |
Par Value | $ 500 | 500 |
Unsecured Long-term Debt, Noncurrent | 491 | 495 |
Fair Value | $ 495 | 501 |
2.700% notes due July 2020 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 2.70% | |
Par Value | $ 1,500 | 1,500 |
Unsecured Long-term Debt, Noncurrent | 1,497 | 1,496 |
Fair Value | 1,493 | 1,517 |
Floating rate notes due October 2020 [Member] | ||
Debt Instrument [Line Items] | ||
Par Value | 300 | 300 |
Unsecured Long-term Debt, Noncurrent | 299 | 299 |
Fair Value | $ 299 | 300 |
3.875% notes due October 2020 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 3.875% | |
Par Value | $ 450 | 450 |
Unsecured Long-term Debt, Noncurrent | 441 | 446 |
Fair Value | $ 459 | 467 |
1.950% notes due October 2020 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 1.95% | |
Par Value | $ 900 | 900 |
Unsecured Long-term Debt, Noncurrent | 896 | 895 |
Fair Value | $ 879 | 892 |
4.700% notes due February 2021 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 4.70% | |
Par Value | $ 400 | 400 |
Unsecured Long-term Debt, Noncurrent | 398 | 403 |
Fair Value | $ 418 | 425 |
2.125% notes due March 2021 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 2.125% | |
Par Value | $ 750 | 750 |
Unsecured Long-term Debt, Noncurrent | 747 | 746 |
Fair Value | $ 731 | 744 |
3.375% notes due November 2021 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 3.375% | |
Par Value | $ 500 | 500 |
Unsecured Long-term Debt, Noncurrent | 485 | 493 |
Fair Value | $ 504 | 516 |
2.875% notes due December 2021 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 2.875% | |
Par Value | $ 750 | 750 |
Unsecured Long-term Debt, Noncurrent | 729 | 741 |
Fair Value | $ 743 | 760 |
2.875% notes due March 2022 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 2.875% | |
Par Value | $ 1,100 | 1,100 |
Unsecured Long-term Debt, Noncurrent | 1,037 | 1,054 |
Fair Value | $ 1,088 | 1,114 |
3.350% notes due July 2022 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 3.35% | |
Par Value | $ 1,000 | 1,000 |
Unsecured Long-term Debt, Noncurrent | 996 | 996 |
Fair Value | $ 1,005 | 1,033 |
2.375% notes due October 2022 [Member] [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 2.375% | |
Par Value | $ 900 | 900 |
Unsecured Long-term Debt, Noncurrent | 893 | 893 |
Fair Value | $ 866 | 891 |
0.000% notes due November 2022 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 0.00% | |
Par Value | $ 15 | 15 |
Unsecured Long-term Debt, Noncurrent | 12 | 12 |
Fair Value | $ 12 | 12 |
2.750% notes due February 2023 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 2.75% | |
Par Value | $ 625 | 625 |
Unsecured Long-term Debt, Noncurrent | 594 | 606 |
Fair Value | $ 611 | 626 |
2.875% notes due March 2023 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 2.875% | |
Par Value | $ 750 | 750 |
Unsecured Long-term Debt, Noncurrent | 745 | 762 |
Fair Value | $ 738 | 759 |
3.750% notes due July 2025 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 3.75% | |
Par Value | $ 2,000 | 2,000 |
Unsecured Long-term Debt, Noncurrent | 1,988 | 1,987 |
Fair Value | $ 2,026 | 2,108 |
3.100% notes due March 2026 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 3.10% | |
Par Value | $ 1,000 | 1,000 |
Unsecured Long-term Debt, Noncurrent | 995 | 995 |
Fair Value | $ 969 | 1,007 |
3.450% notes due January 2027 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 3.45% | |
Par Value | $ 750 | 750 |
Unsecured Long-term Debt, Noncurrent | 745 | 745 |
Fair Value | $ 743 | 776 |
3.375% notes due April 2027 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 3.375% | |
Par Value | $ 625 | 625 |
Unsecured Long-term Debt, Noncurrent | 619 | 618 |
Fair Value | $ 615 | 642 |
2.950% notes due October 2027 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 2.95% | |
Par Value | $ 950 | 950 |
Unsecured Long-term Debt, Noncurrent | 937 | 937 |
Fair Value | $ 903 | 947 |
4.625% notes due July 2035 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 4.625% | |
Par Value | $ 1,000 | 1,000 |
Unsecured Long-term Debt, Noncurrent | 991 | 991 |
Fair Value | $ 1,094 | 1,165 |
5.800% notes due March 2036 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 5.80% | |
Par Value | $ 850 | 850 |
Unsecured Long-term Debt, Noncurrent | 838 | 837 |
Fair Value | $ 1,042 | 1,105 |
6.500% notes due June 2037 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 6.50% | |
Par Value | $ 500 | 500 |
Unsecured Long-term Debt, Noncurrent | 492 | 491 |
Fair Value | $ 660 | 698 |
6.625% notes due November 2037 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 6.625% | |
Par Value | $ 650 | 650 |
Unsecured Long-term Debt, Noncurrent | 641 | 641 |
Fair Value | $ 869 | 923 |
6.875% notes due February 2038 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 6.875% | |
Par Value | $ 1,100 | 1,100 |
Unsecured Long-term Debt, Noncurrent | 1,075 | 1,075 |
Fair Value | $ 1,511 | 1,596 |
5.700% notes due October 2040 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 5.70% | |
Par Value | $ 300 | 300 |
Unsecured Long-term Debt, Noncurrent | 296 | 296 |
Fair Value | $ 371 | 389 |
5.950% notes due February 2041 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 5.95% | |
Par Value | $ 350 | 350 |
Unsecured Long-term Debt, Noncurrent | 345 | 345 |
Fair Value | $ 443 | 466 |
4.625% notes due November 2041 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 4.625% | |
Par Value | $ 600 | 600 |
Unsecured Long-term Debt, Noncurrent | 588 | 588 |
Fair Value | $ 644 | 685 |
4.375% notes due March 2042 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 4.375% | |
Par Value | $ 502 | 502 |
Unsecured Long-term Debt, Noncurrent | 483 | 483 |
Fair Value | $ 524 | 555 |
3.950% notes due October 2042 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 3.95% | |
Par Value | $ 625 | 625 |
Unsecured Long-term Debt, Noncurrent | 607 | 607 |
Fair Value | $ 614 | 650 |
4.250% notes due March 2043 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 4.25% | |
Par Value | $ 750 | 750 |
Unsecured Long-term Debt, Noncurrent | 734 | 734 |
Fair Value | $ 771 | 822 |
4.750% notes due July 2045 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 4.75% | |
Par Value | $ 2,000 | 2,000 |
Unsecured Long-term Debt, Noncurrent | 1,972 | 1,972 |
Fair Value | $ 2,201 | 2,362 |
4.200% notes due January 2047 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 4.20% | |
Par Value | $ 750 | 750 |
Unsecured Long-term Debt, Noncurrent | 738 | 738 |
Fair Value | $ 759 | 808 |
4.250% notes due April 2047 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 4.25% | |
Par Value | $ 725 | 725 |
Unsecured Long-term Debt, Noncurrent | 717 | 717 |
Fair Value | $ 741 | 798 |
3.750% notes due October 2047 [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate | 3.75% | |
Par Value | $ 950 | 950 |
Unsecured Long-term Debt, Noncurrent | 933 | 933 |
Fair Value | $ 895 | $ 969 |
Segment Financial Information34
Segment Financial Information (Narrative) (Details) | 3 Months Ended |
Mar. 31, 2018 | |
Statement [Line Items] | |
Number of Reportable Segments | 4 |
Segment Financial Information35
Segment Financial Information (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Statement [Line Items] | ||
Premiums, revenues - unaffiliated customers | $ 44,084 | $ 38,938 |
Products, revenues - unaffiliated customers | 6,702 | 6,129 |
Services, revenues - unaffiliated customers | 4,104 | 3,434 |
Investment and other income | 298 | 222 |
Total revenues | 55,188 | 48,723 |
Earnings from operations | 4,053 | 3,413 |
Interest expense | (329) | (283) |
Earnings before income taxes | 3,724 | 3,130 |
Optum | ||
Statement [Line Items] | ||
Investment and other income | 115 | 61 |
Total revenues | 23,601 | 21,237 |
Earnings from operations | 1,653 | 1,279 |
Interest expense | 0 | 0 |
Earnings before income taxes | 1,653 | 1,279 |
Unaffiliated Customers | ||
Statement [Line Items] | ||
Premiums, revenues - unaffiliated customers | 44,084 | 38,938 |
Products, revenues - unaffiliated customers | 6,702 | 6,129 |
Services, revenues - unaffiliated customers | 4,104 | 3,434 |
Total revenues | 54,890 | 48,501 |
Unaffiliated Customers | Optum | ||
Statement [Line Items] | ||
Premiums, revenues - unaffiliated customers | 847 | 885 |
Products, revenues - unaffiliated customers | 6,702 | 6,129 |
Services, revenues - unaffiliated customers | 2,065 | 1,512 |
Total revenues | 9,614 | 8,526 |
Affiliated Customers | ||
Statement [Line Items] | ||
Total revenues | 0 | 0 |
Affiliated Customers | Optum | ||
Statement [Line Items] | ||
Total revenues | 13,872 | 12,650 |
Operating Segments | UnitedHealthcare | ||
Statement [Line Items] | ||
Investment and other income | 183 | 161 |
Total revenues | 45,459 | 40,136 |
Earnings from operations | 2,400 | 2,134 |
Interest expense | 0 | 0 |
Earnings before income taxes | 2,400 | 2,134 |
Operating Segments | OptumHealth | ||
Statement [Line Items] | ||
Investment and other income | 106 | 56 |
Total revenues | 5,759 | 4,733 |
Earnings from operations | 488 | 332 |
Interest expense | 0 | 0 |
Earnings before income taxes | 488 | 332 |
Operating Segments | OptumInsight | ||
Statement [Line Items] | ||
Investment and other income | 2 | 1 |
Total revenues | 2,069 | 1,843 |
Earnings from operations | 395 | 294 |
Interest expense | 0 | 0 |
Earnings before income taxes | 395 | 294 |
Operating Segments | OptumRx | ||
Statement [Line Items] | ||
Investment and other income | 7 | 4 |
Total revenues | 16,106 | 14,947 |
Earnings from operations | 770 | 653 |
Interest expense | 0 | 0 |
Earnings before income taxes | 770 | 653 |
Operating Segments | Unaffiliated Customers | UnitedHealthcare | ||
Statement [Line Items] | ||
Premiums, revenues - unaffiliated customers | 43,237 | 38,053 |
Products, revenues - unaffiliated customers | 0 | 0 |
Services, revenues - unaffiliated customers | 2,039 | 1,922 |
Total revenues | 45,276 | 39,975 |
Operating Segments | Unaffiliated Customers | OptumHealth | ||
Statement [Line Items] | ||
Premiums, revenues - unaffiliated customers | 847 | 885 |
Products, revenues - unaffiliated customers | 12 | 12 |
Services, revenues - unaffiliated customers | 1,188 | 721 |
Total revenues | 2,047 | 1,618 |
Operating Segments | Unaffiliated Customers | OptumInsight | ||
Statement [Line Items] | ||
Premiums, revenues - unaffiliated customers | 0 | 0 |
Products, revenues - unaffiliated customers | 23 | 21 |
Services, revenues - unaffiliated customers | 740 | 642 |
Total revenues | 763 | 663 |
Operating Segments | Unaffiliated Customers | OptumRx | ||
Statement [Line Items] | ||
Premiums, revenues - unaffiliated customers | 0 | 0 |
Products, revenues - unaffiliated customers | 6,667 | 6,096 |
Services, revenues - unaffiliated customers | 137 | 149 |
Total revenues | 6,804 | 6,245 |
Operating Segments | Affiliated Customers | UnitedHealthcare | ||
Statement [Line Items] | ||
Total revenues | 0 | 0 |
Operating Segments | Affiliated Customers | OptumHealth | ||
Statement [Line Items] | ||
Total revenues | 3,606 | 3,059 |
Operating Segments | Affiliated Customers | OptumInsight | ||
Statement [Line Items] | ||
Total revenues | 1,304 | 1,179 |
Operating Segments | Affiliated Customers | OptumRx | ||
Statement [Line Items] | ||
Total revenues | 9,295 | 8,698 |
Optum Eliminations | ||
Statement [Line Items] | ||
Investment and other income | 0 | 0 |
Total revenues | (333) | (286) |
Earnings from operations | 0 | 0 |
Interest expense | 0 | 0 |
Earnings before income taxes | 0 | 0 |
Optum Eliminations | Unaffiliated Customers | ||
Statement [Line Items] | ||
Premiums, revenues - unaffiliated customers | 0 | 0 |
Products, revenues - unaffiliated customers | 0 | 0 |
Services, revenues - unaffiliated customers | 0 | 0 |
Total revenues | 0 | 0 |
Optum Eliminations | Affiliated Customers | ||
Statement [Line Items] | ||
Total revenues | (333) | (286) |
Corporate and Eliminations | ||
Statement [Line Items] | ||
Investment and other income | 0 | 0 |
Total revenues | (13,872) | (12,650) |
Earnings from operations | 0 | 0 |
Interest expense | (329) | (283) |
Earnings before income taxes | (329) | (283) |
Corporate and Eliminations | Unaffiliated Customers | ||
Statement [Line Items] | ||
Premiums, revenues - unaffiliated customers | 0 | 0 |
Products, revenues - unaffiliated customers | 0 | 0 |
Services, revenues - unaffiliated customers | 0 | 0 |
Total revenues | 0 | 0 |
Corporate and Eliminations | Affiliated Customers | ||
Statement [Line Items] | ||
Total revenues | $ (13,872) | $ (12,650) |