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Unitedhealth Group Inc – ‘10-K’ for 12/31/19 – ‘R17’

On:  Friday, 2/14/20, at 5:18pm ET   ·   For:  12/31/19   ·   Accession #:  731766-20-6   ·   File #:  1-10864

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  As Of               Filer                 Filing    For·On·As Docs:Size

 2/14/20  Unitedhealth Group Inc            10-K       12/31/19  112:20M

Annual Report   —   Form 10-K   —   Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                       HTML   2.43M 
 2: EX-4.5      Instrument Defining the Rights of Security Holders  HTML     34K 
 3: EX-10.17    Material Contract                                   HTML    217K 
 4: EX-10.18    Material Contract                                   HTML     38K 
 5: EX-10.44    Material Contract                                   HTML     73K 
 6: EX-10.45    Material Contract                                   HTML     36K 
 7: EX-10.46    Material Contract                                   HTML     37K 
 8: EX-21.1     Subsidiaries List                                   HTML    298K 
 9: EX-23.1     Consent of Experts or Counsel                       HTML     32K 
10: EX-24.1     Power of Attorney                                   HTML     39K 
11: EX-31.1     Certification -- §302 - SOA'02                      HTML     46K 
12: EX-32.1     Certification -- §906 - SOA'02                      HTML     35K 
22: R1          Cover Document                                      HTML     96K 
79: R2          Consolidated Balance Sheets                         HTML    133K 
89: R3          Consolidated Balance Sheet (Parenthetical)          HTML     58K 
59: R4          Consolidated Statements of Operations               HTML    107K 
23: R5          Consolidated Statements of Comprehensive Income     HTML     76K 
80: R6          Consolidated Statements of Changes in Equity        HTML    109K 
90: R7          Consolidated Statement of Changes in Equity         HTML     33K 
                (Parentheticals)                                                 
58: R8          Consolidated Statements of Cash Flows               HTML    132K 
24: R9          Description of Business (Notes)                     HTML     32K 
108: R10         Basis of Presentation, Uses of Estimates and        HTML     96K  
                Significant Accounting Policies (Notes)                          
75: R11         Investments (Notes)                                 HTML    213K 
40: R12         Fair Value (Notes)                                  HTML    151K 
53: R13         Property, Plant, and Capitalized Software (Notes)   HTML     54K 
109: R14         Goodwill and Intangible Assets (Notes)              HTML    115K  
76: R15         Medical Costs Payable (Notes)                       HTML     81K 
41: R16         Commercial Paper and Long-Term Debt (Notes)         HTML    260K 
54: R17         Income Taxes (Notes)                                HTML    163K 
110: R18         Shareholders' Equity (Notes)                        HTML     51K  
74: R19         Share-Based Compensation (Notes)                    HTML    110K 
19: R20         Commitments and Contingencies (Notes)               HTML     54K 
55: R21         Business Combinations Business Combinations         HTML     44K 
                (Notes)                                                          
92: R22         Segment Financial Information (Notes)               HTML    308K 
81: R23         Quarterly Financial Data (Unaudited) (Notes)        HTML     82K 
20: R24         Schedule I (Notes)                                  HTML    202K 
56: R25         Basis of Presentation, Uses of Estimates and        HTML    153K 
                Significant Accounting Policies (Policies)                       
93: R26         Fair Value Fair Value (Policies)                    HTML     44K 
82: R27         Schedule I (Policies)                               HTML    122K 
18: R28         Basis of Presentation, Uses of Estimates and        HTML     71K 
                Significant Accounting Policies (Tables)                         
57: R29         Investments (Tables)                                HTML    209K 
52: R30         Fair Value (Tables)                                 HTML    143K 
38: R31         Property, Plant, and Capitalized Software (Tables)  HTML     52K 
78: R32         Goodwill and Intangible Assets (Tables)             HTML    122K 
112: R33         Medical Costs Payable (Tables)                      HTML     83K  
51: R34         Commercial Paper and Long-Term Debt (Tables)        HTML    262K 
37: R35         Income Taxes (Tables)                               HTML    165K 
77: R36         Shareholders' Equity (Tables)                       HTML     49K 
111: R37         Share-Based Compensation (Tables)                   HTML    115K  
49: R38         Commitments and Contingencies (Tables)              HTML     45K 
39: R39         Business Combinations Business Combinations         HTML     41K 
                (Tables)                                                         
65: R40         Segment Financial Information (Tables)              HTML    300K 
28: R41         Quarterly Financial Data (Unaudited) (Tables)       HTML     82K 
85: R42         Schedule I (Tables)                                 HTML    208K 
95: R43         Basis of Presentation, Uses of Estimates and        HTML     96K 
                Significant Accounting Policies (Details)                        
63: R44         Basis of Presentation, Uses of Estimates and        HTML     43K 
                Significant Accounting Policies Useful lives for                 
                property, equipment and capitalized software                     
                (Details)                                                        
27: R45         Basis of Presentation, Uses of Estimates and        HTML     56K 
                Significant Accounting Policies Redeemable                       
                Noncontrolling Interests (Details)                               
84: R46         Investments (Narrative) (Details)                   HTML     42K 
94: R47         Investments (Short-Term and Long-Term Investments)  HTML     82K 
                (Details)                                                        
62: R48         Investments (Amortized Cost and Fair Value of       HTML    104K 
                Available-for-Sale Debt Securities by Contractual                
                Maturity) (Details)                                              
29: R49         Investments (Fair Value of Available-For-Sale       HTML     67K 
                Investments with Gross Unrealized Losses by                      
                Investment Type and Length of Time That Individual               
                Securities Have Been in a Continuous Unrealized                  
                Loss Position) (Details)                                         
35: R50         Fair Value (Narrative) (Details)                    HTML     39K 
46: R51         Fair Value (Financial Assets and Liabilities,       HTML     88K 
                Measured at Fair Value on a Recurring Basis)                     
                (Details)                                                        
100: R52         Fair Value (Financial Assets and Liabilities, Not   HTML     56K  
                Measured at Fair Value on a Recurring Basis)                     
                (Details)                                                        
66: R53         Property, Plant, and Capitalized Software           HTML     36K 
                (Narrative) (Details)                                            
36: R54         Property, Plant, and Capitalized Software Property  HTML     56K 
                Plant and Equipment Table (Details)                              
47: R55         Goodwill and Intangible Assets (Narrative)          HTML     34K 
                (Details)                                                        
101: R56         Goodwill and Intangible Assets Changes in the       HTML     51K  
                Carrying Amount of Goodwill by Reporting Segment                 
                (Details)                                                        
67: R57         Goodwill and Intangible Assets Gross carrying       HTML     49K 
                value, accumulated amortization and net carrying                 
                value of intangible assets (Details)                             
34: R58         Goodwill and Intangible Assets Weighted-average     HTML     43K 
                useful lives assigned to finite-lived intangible                 
                assets acquired in business combinations (Details)               
48: R59         Goodwill and Intangible Assets Amortization         HTML     43K 
                Expense relating to Intangible Assets (Details)                  
96: R60         Medical Costs Payable (Narrative) (Details)         HTML     31K 
87: R61         Medical Costs Payable Rollforward (Details)         HTML     55K 
25: R62         Medical Costs Payable, Incurred and Paid Medical    HTML     46K 
                Cost Development (Details)                                       
60: R63         Commercial Paper and Long-Term Debt (Narrative)     HTML     61K 
                (Details)                                                        
98: R64         Commercial Paper and Long-Term Debt (Details)       HTML    210K 
88: R65         Commercial Paper and Long-Term Debt Maturities of   HTML     48K 
                commercial paper and long-term debt (Details)                    
26: R66         Income Taxes (Narrative) (Details)                  HTML     65K 
61: R67         Income Taxes Reconciliation of Provision for        HTML     49K 
                Income Taxes (Details)                                           
99: R68         Income Tax Reconciliation of the tax provision at   HTML     86K 
                the U.S. Federal Statutory Rate (Details)                        
86: R69         Income Taxes Components of Deferred Tax Assets and  HTML     90K 
                Liabilities (Details)                                            
71: R70         Income Taxes Reconciliation of the beginning and    HTML     46K 
                ending amount of unrecognized tax benefits                       
                (Details)                                                        
107: R71         Shareholders' Equity (Narrative) (Details)          HTML     43K  
45: R72         Shareholders' Equity Share Repurchases (Details)    HTML     42K 
33: R73         Share-Based Compensation (Narrative) (Details)      HTML     38K 
68: R74         Share-Based Compensation (Stock Option Activity)    HTML     80K 
                (Details)                                                        
104: R75         Share-Based Compensation (Restricted Share          HTML     48K  
                Activity) (Details)                                              
42: R76         Share-Based Compensation Other Share-Based          HTML     63K 
                Compensation Data (Details)                                      
30: R77         Share-Based Compensation (Share-Based Compensation  HTML     58K 
                Principal Fair Value Assumptions) (Details)                      
73: R78         Commitments and Contingencies (Narrative)           HTML     47K 
                (Details)                                                        
103: R79         Commitments and Contingencies Future Lease          HTML     55K  
                Payments (Details)                                               
70: R80         Business Combinations Acquired Assets and           HTML     49K 
                Liabilities (Details)                                            
106: R81         Business Combinations Business Combinations         HTML     39K  
                (Details)                                                        
44: R82         Segment Financial Information (Narrative)           HTML     45K 
                (Details)                                                        
32: R83         Segment Financial Information (Details)             HTML    125K 
69: R84         Quarterly Financial Data (Unaudited) (Details)      HTML     70K 
105: R85         Schedule I (Details)                                HTML     43K  
43: R86         Schedule I Condensed Balance Sheets (Details)       HTML    113K 
31: R87         Schedule I Balance Sheet Document (Details)         HTML     52K 
72: R88         Schedule I Condensed Statement of Comprehensive     HTML     73K 
                Income (Details)                                                 
102: R89         Schedule I Statement of Cash Flows (Details)        HTML    109K  
97: R90         Schedule I Maturities of Commercial Paper and       HTML     52K 
                Long-Term Debt (Details)                                         
50: XML         IDEA XML File -- Filing Summary                      XML    203K 
64: XML         XBRL Instance -- unh2019123110-k_htm                 XML   5.37M 
83: EXCEL       IDEA Workbook of Financial Reports                  XLSX    133K 
14: EX-101.CAL  XBRL Calculations -- unh-20191231_cal                XML    310K 
15: EX-101.DEF  XBRL Definitions -- unh-20191231_def                 XML   1.42M 
16: EX-101.LAB  XBRL Labels -- unh-20191231_lab                      XML   2.46M 
17: EX-101.PRE  XBRL Presentations -- unh-20191231_pre               XML   1.68M 
13: EX-101.SCH  XBRL Schema -- unh-20191231                          XSD    232K 
91: JSON        XBRL Instance as JSON Data -- MetaLinks              515±   798K 
21: ZIP         XBRL Zipped Folder -- 0000731766-20-000006-xbrl      Zip    654K

‘R17’   —   Income Taxes (Notes)

This is an IDEA Financial Report.  [ Alternative Formats ]

 
v3.19.3.a.u2
Income Taxes (Notes)
 12 Months Ended
Income Tax Examination [Line Items]  
Income Tax Disclosure [Text Block]
Income Taxes
The current income tax provision reflects the tax consequences of revenues and expenses currently taxable or deductible on various income tax returns for the year reported. The deferred income tax provision or benefit generally reflects the net change in deferred income tax assets and liabilities during the year, excluding any deferred income tax assets and liabilities of acquired businesses. The components of the provision for income taxes for the years ended December 31 are as follows:
(in millions)
 
2019
 
2018
 
2017
Current Provision:
 
 
 
 
 
 
Federal
 
$
2,629

 
$
2,897

 
$
3,597

State and local
 
319

 
219

 
314

Foreign
 
564

 
404

 
254

Total current provision
 
3,512

 
3,520

 
4,165

Deferred provision (benefit)
 
230

 
42

 
(965
)
Total provision for income taxes
 
$
3,742

 
$
3,562

 
$
3,200



The reconciliation of the tax provision at the U.S. federal statutory rate to the provision for income taxes and the effective tax rate for the years ended December 31 is as follows:
(in millions, except percentages)
 
2019
 
2018
 
2017
Tax provision at the U.S. federal statutory rate
 
$
3,776

 
21.0
 %
 
$
3,348

 
21.0
 %
 
$
4,908

 
35.0
 %
Change in tax law
 
—

 
—

 
—

 
—

 
(1,199
)
 
(8.6
)
State income taxes, net of federal benefit
 
271

 
1.5

 
168

 
1.0

 
197

 
1.4

Share-based awards - excess tax benefit
 
(132
)
 
(0.7
)
 
(161
)
 
(1.0
)
 
(319
)
 
(2.3
)
Non-deductible compensation
 
119

 
0.7

 
117

 
0.7

 
175

 
1.3

Health insurance industry tax
 
—

 
—

 
552

 
3.5

 
—

 
—

Foreign rate differential
 
(214
)
 
(1.2
)
 
(203
)
 
(1.3
)
 
(282
)
 
(2.0
)
Other, net
 
(78
)
 
(0.5
)
 
(259
)
 
(1.6
)
 
(280
)
 
(2.0
)
Provision for income taxes
 
$
3,742

 
20.8
 %
 
$
3,562

 
22.3
 %
 
$
3,200

 
22.8
 %

Deferred income tax assets and liabilities are recognized for the differences between the financial and income tax reporting bases of assets and liabilities based on enacted tax rates and laws. The components of deferred income tax assets and liabilities as of December 31 are as follows:
(in millions)
 
2019
 
2018
Deferred income tax assets:
 
 
 
 
Accrued expenses and allowances
 
$
654

 
$
551

U.S. federal and state net operating loss carryforwards
 
260

 
190

Share-based compensation
 
97

 
91

Nondeductible liabilities
 
184

 
184

Non-U.S. tax loss carryforwards
 
420

 
426

Lease liability
 
892

 
—

Other-domestic
 
179

 
306

Other-non-U.S.
 
329

 
337

Subtotal
 
3,015

 
2,085

Less: valuation allowances
 
(147
)
 
(84
)
Total deferred income tax assets
 
2,868

 
2,001

Deferred income tax liabilities:
 
 
 
 
U.S. federal and state intangible assets
 
(2,370
)
 
(2,131
)
Non-U.S. goodwill and intangible assets
 
(735
)
 
(709
)
Capitalized software
 
(683
)
 
(603
)
Depreciation and amortization
 
(301
)
 
(266
)
Prepaid expenses
 
(172
)
 
(152
)
Outside basis in partnerships
 
(317
)
 
(300
)
Lease right-of-use asset
 
(887
)
 
—

Other-domestic
 
(177
)
 
—

Other-non-U.S.
 
(219
)
 
(314
)
Total deferred income tax liabilities
 
(5,861
)
 
(4,475
)
Net deferred income tax liabilities
 
$
(2,993
)
 
$
(2,474
)

Valuation allowances are provided when it is considered more likely than not that deferred tax assets will not be realized. The valuation allowances primarily relate to future tax benefits on certain federal, state and non-U.S. net operating loss carryforwards. Federal net operating loss carryforwards of $62 million expire beginning in 2022 through 2037 and $179 million have an indefinite carryforward period; state net operating loss carryforwards expire beginning in 2020 through 2039, with some having an indefinite carryforward period. Substantially all of the non-U.S. tax loss carryforwards have indefinite carryforward periods.
As of December 31, 2019, the Company’s undistributed earnings from non-U.S. subsidiaries are intended to be indefinitely reinvested in non-U.S. operations, and therefore no U.S. deferred taxes have been recorded. Taxes payable on the remittance of such earnings would be minimal.
A reconciliation of the beginning and ending amount of unrecognized tax benefits as of December 31 is as follows:
(in millions)
 
2019
 
2018
 
2017
Gross unrecognized tax benefits, beginning of period
 
$
1,056

 
$
598

 
$
263

Gross increases:
 
 

 
 

 
 

Current year tax positions
 
512

 
487

 
356

Prior year tax positions
 
2

 
87

 
40

Gross decreases:
 
 

 
 

 
 

Prior year tax positions
 
(96
)
 
(84
)
 
(33
)
Settlements
 
(46
)
 
(20
)
 
(24
)
Statute of limitations lapses
 
(5
)
 
(12
)
 
(4
)
Gross unrecognized tax benefits, end of period
 
$
1,423

 
$
1,056

 
$
598


The Company believes it is reasonably possible that its liability for unrecognized tax benefits will decrease in the next twelve months by $90 million as a result of audit settlements and the expiration of statutes of limitations.
The Company classifies interest and penalties associated with uncertain income tax positions as income taxes within its Consolidated Statements of Operations. During the years ended December 31, 2019, 2018 and 2017, the Company recognized $19 million, $6 million and $14 million of interest and penalties, respectively. The Company had $76 million and $95 million of accrued interest and penalties for uncertain tax positions as of December 31, 2019 and 2018, respectively. These amounts are not included in the reconciliation above. As of December 31, 2019, there were $852 million of unrecognized tax benefits that, if recognized, would affect the effective tax rate.
The Company currently files income tax returns in the United States, various states and localities and non-U.S. jurisdictions. The U.S. Internal Revenue Service (IRS) has completed exams on the consolidated income tax returns for fiscal years 2016 and prior. The Company’s 2017, 2018 and 2019 tax years are under review by the IRS under its Compliance Assurance Program. With the exception of a few states, the Company is no longer subject to income tax examinations prior to the 2013 tax year. In general, the Company is subject to examination in non-U.S. jurisdictions for years 2014 and forward.

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-K’ Filing    Date    Other Filings
Filed on:2/14/20SC 13G
For Period end:12/31/1911-K
12/31/1810-K,  11-K,  4
 List all Filings 

16 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 2/28/24  UnitedHealth Group Inc.           10-K       12/31/23  119:19M
 3/03/23  UnitedHealth Group Inc.           S-8         3/03/23    9:419K
 2/24/23  UnitedHealth Group Inc.           10-K       12/31/22  119:19M
 2/22/23  UnitedHealth Group Inc.           S-8         2/22/23    7:276K                                   Toppan Merrill/FA
10/26/22  UnitedHealth Group Inc.           424B5                  2:490K                                   Donnelley … Solutions/FA
10/25/22  UnitedHealth Group Inc.           424B5                  1:421K                                   Donnelley … Solutions/FA
10/03/22  UnitedHealth Group Inc.           S-8        10/03/22    7:438K                                   Toppan Merrill/FA
 8/18/22  UnitedHealth Group Inc.           S-8         8/18/22    5:89K                                    Donnelley … Solutions/FA
 5/18/22  UnitedHealth Group Inc.           424B5                  2:477K                                   Donnelley … Solutions/FA
 5/17/22  UnitedHealth Group Inc.           424B5                  1:403K                                   Donnelley … Solutions/FA
 2/15/22  UnitedHealth Group Inc.           10-K       12/31/21  113:19M
10/29/21  UnitedHealth Group Inc.           S-8        10/29/21    5:264K
10/29/21  UnitedHealth Group Inc.           S-8        10/29/21    4:175K
 5/18/21  UnitedHealth Group Inc.           424B5                  1:435K                                   Donnelley … Solutions/FA
 5/17/21  UnitedHealth Group Inc.           424B5                  1:407K                                   Donnelley … Solutions/FA
 3/01/21  UnitedHealth Group Inc.           10-K       12/31/20  107:17M
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