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Unitedhealth Group Inc – ‘10-K’ for 12/31/19 – ‘R24’

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

‘R24’   —   Schedule I (Notes)

This is an IDEA Financial Report.  [ Alternative Formats ]

 
v3.19.3.a.u2
Schedule I (Notes)
 12 Months Ended
Condensed Statement of Income Captions [Line Items]  
Condensed Financial Information of Parent Company Only Disclosure [Text Block]
Schedule I
Condensed Financial Information of Registrant
(Parent Company Only)
UnitedHealth Group
Condensed Balance Sheets
 
(in millions, except per share data)
 
 
Assets
 
 
 
 
Current assets:
 
 
 
 
Cash and cash equivalents
 
$
46

 
$
434

Other current assets
 
787

 
197

Total current assets
 
833

 
631

Equity in net assets of subsidiaries
 
93,467

 
83,244

Long-term notes receivable from subsidiaries
 
5,079

 
4,461

Other assets
 
794

 
972

Total assets
 
$
100,173

 
$
89,308

 
 
 
 
 
Liabilities and shareholders’ equity
 
 
 
 
Current liabilities:
 
 
 
 
Accounts payable and accrued liabilities
 
$
688

 
$
618

Current portion of notes payable to subsidiaries
 
750

 
714

Commercial paper and current maturities of long-term debt
 
3,548

 
1,744

Total current liabilities
 
4,986

 
3,076

Long-term debt, less current maturities
 
35,926

 
33,490

Long-term notes payable to subsidiaries
 
1,314

 
560

Other liabilities
 
331

 
486

Total liabilities
 
42,557

 
37,612

Commitments and contingencies (Note 4)
 
 
 
 
Shareholders’ equity:
 
 
 
 
Preferred stock, $0.001 par value -10 shares authorized; no shares issued or outstanding
 
—

 
—

Common stock, $0.01 par value - 3,000 shares authorized; 948 and 960 issued and outstanding
 
9

 
10

Additional paid-in capital
 
7

 
—

Retained earnings
 
61,178

 
55,846

Accumulated other comprehensive loss
 
(3,578
)
 
(4,160
)
Total UnitedHealth Group shareholders’ equity
 
57,616

 
51,696

Total liabilities and shareholders’ equity
 
$
100,173

 
$
89,308


Schedule I
Condensed Financial Information of Registrant
(Parent Company Only)
UnitedHealth Group
Condensed Statements of Comprehensive Income
 
 
 
For the Years Ended December 31,
(in millions)
 
2019
 
2018
 
2017
Revenues:
 
 
 
 
 
 
Investment and other income
 
$
209

 
$
194

 
$
527

Total revenues
 
209

 
194

 
527

Operating costs:
 
 
 
 
 
 
Operating costs
 
38

 
35

 
—

Interest expense
 
1,580

 
1,285

 
1,114

Total operating costs
 
1,618

 
1,320

 
1,114

Loss before income taxes
 
(1,409
)
 
(1,126
)
 
(587
)
Benefit for income taxes
 
293

 
251

 
214

Loss of parent company
 
(1,116
)
 
(875
)
 
(373
)
Equity in undistributed income of subsidiaries
 
14,955

 
12,861

 
10,931

Net earnings
 
13,839

 
11,986

 
10,558

Other comprehensive income (loss)
 
582

 
(1,517
)
 
14

Comprehensive income
 
$
14,421

 
$
10,469

 
$
10,572


Schedule I
Condensed Financial Information of Registrant
(Parent Company Only)
UnitedHealth Group
Condensed Statements of Cash Flows
 
 
 
For the Years Ended December 31,
(in millions)
 
2019
 
2018
 
2017
Operating activities
 
 
 
 
 
 
Cash flows from operating activities
 
$
9,275

 
$
6,099

 
$
2,021

Investing activities
 
 
 
 
 
 
Issuances of notes to subsidiaries
 
(2,722
)
 
(1,420
)
 
—

Repayments of notes to subsidiaries
 
2,249

 
1,419

 
2,071

Cash paid for acquisitions
 
(9,645
)
 
(4,066
)
 
(2,313
)
Return of capital to parent company
 
4,497

 
4,196

 
3,375

Capital contributions to subsidiaries
 
(803
)
 
(1,259
)
 
(959
)
Other, net
 
490

 
4

 
—

Cash flows (used for) from investing activities
 
(5,934
)
 
(1,126
)
 
2,174

Financing activities
 
 
 
 
 
 
Common stock repurchases
 
(5,500
)
 
(4,500
)
 
(1,500
)
Proceeds from common stock issuances
 
1,037

 
838

 
688

Cash dividends paid
 
(3,932
)
 
(3,320
)
 
(2,773
)
Proceeds from (repayments of) commercial paper, net
 
300

 
(201
)
 
(3,508
)
Proceeds from issuance of long-term debt
 
5,444

 
6,935

 
5,291

Repayments of long-term debt
 
(1,750
)
 
(2,600
)
 
(3,472
)
Proceeds (repayments) of notes from subsidiaries
 
1,207

 
(1,127
)
 
1,704

Other, net
 
(535
)
 
(923
)
 
(446
)
Cash flows used for financing activities
 
(3,729
)
 
(4,898
)
 
(4,016
)
(Decrease) increase in cash and cash equivalents
 
(388
)
 
75

 
179

Cash and cash equivalents, beginning of period
 
434

 
359

 
180

Cash and cash equivalents, end of period
 
$
46

 
$
434

 
$
359

 
 
 
 
 
 
 
Supplemental cash flow disclosures
 
 
 
 
 
 
Cash paid for interest
 
$
1,506

 
$
1,294

 
$
1,062

Cash paid for income taxes
 
2,590

 
2,379

 
3,455

 
 
 
 
 
 
 
Supplemental schedule of non-cash investing activities
 
 
 
 
 
 
Common stock issued for acquisitions
 
$
—

 
$
—

 
$
2,164

Conversion of note receivable from subsidiaries to equity
 
—

 
—

 
4,378


See Notes to the Condensed Financial Statements of Registrant
Schedule I
Condensed Financial Information of Registrant
(Parent Company Only)
UnitedHealth Group
Notes to Condensed Financial Statements
1.    Basis of Presentation
UnitedHealth Group’s parent company financial information has been derived from its consolidated financial statements and should be read in conjunction with the consolidated financial statements included in this Form 10-K. The accounting policies for the registrant are the same as those described in Note 2 of Notes to the Consolidated Financial Statements included in Part II, Item 8, “Financial Statements and Supplementary Data.”
2.    Subsidiary Transactions
Investment in Subsidiaries. UnitedHealth Group’s investment in subsidiaries is stated at cost plus equity in undistributed earnings of subsidiaries.
Dividends and Capital Distributions. Cash dividends received from subsidiaries and included in Cash Flows from Operating Activities in the Condensed Statements of Cash Flows were $5.6 billion, $5.6 billion and $3.4 billion in 2019, 2018 and 2017, respectively. Additionally, $4.5 billion, $4.2 billion and $3.4 billion in cash were received as a return of capital to the parent company during 2019, 2018 and 2017, respectively.
3.    Commercial Paper and Long-Term Debt
Discussion of commercial paper and long-term debt can be found in Note 8 of Notes to the Consolidated Financial Statements included in Part II, Item 8, “Financial Statements and Supplementary Data.” Long-term debt obligations of the parent company do not include other financing obligations at subsidiaries that totaled $1.2 billion and $1.3 billion at December 31, 2019 and 2018, respectively.
Maturities of commercial paper and long-term debt for the years ending December 31 are as follows:
(in millions)
 
 
2020
 
$
3,550

2021
 
3,150

2022
 
3,015

2023
 
2,125

2024
 
1,500

Thereafter
 
26,477


4. Commitments and Contingencies

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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