UnitedHealth Group Incorporated

NYSE-UNH

OverviewFinancialsInvestor RelationsResearchEstimatesNewsOwnershipIndustryDividendsModelingFilings

Operating Activities	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16	Dec '15
Net Income	18,373	15,242	23,144	20,639	17,732	15,769	14,239	12,382	10,823	7,073	5,868
Net Earnings
Depreciation & Amortization	4,285	4,099	3,972	3,400	3,103	2,891	2,720	2,428	2,245	2,055	1,693
Depreciation and Amortization
Share-Based Compensation Expense	982	1,018	1,059	925	800	679	697	638	597	485	406
Share-Based Compensation
Other Adjustments	-317	4,653	-750	-1,004	-814	-60	124	-29	-748	-1	-308
Deferred Income Taxes and Other
Deferred Income Taxes
Income on Sale of Subsidiary and Subsidiaries Held for Sale
Gains on Dispositions and Other Strategic Transactions
Other, Net
Changes in Receivables	-2,057	-1,437	-3,114	-2,523	-1,000	-688	162	-1,351	-1,062	-1,357	-591
Accounts Receivable and Other Current Assets
Accounts Receivable
Changes in Accounts Payable	796	2,463	3,516	1,964	1,162	5,348	733	526	930	1,494	1,280
Accounts Payable and Other Liabilities
Changes in Unearned Premiums	40	-197	203	126	-310	278	130	38	157	-202	237
Unearned Revenues
Changes in Claims Reserves	6,446	2,503	3,482	4,053	2,701	152	1,221	1,831	1,284	1,849	2,585
Medical Costs Payable
Change in Other Policy Liabilities
Changes in Other Operating Activities	-4,257	-4,140	-2,444	-1,374	-1,031	-2,195	-1,563	-750	-630	-1,601	-1,430
Other Assets
Cash from Operating Activities	20,958	24,204	29,068	26,206	22,343	22,174	18,463	15,713	13,596	9,795	9,740
Cash Flows from Operating Activities

Investing Activities	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16	Dec '15
Capital Expenditure	-3,586	-3,499	-3,386	-2,802	-2,454	-2,051	-2,071	-2,063	-2,023	-1,705	-1,556
Purchases of Property, Equipment and Capitalized Software
Proceeds from Sale of Property, Plant & Equipment	—	—	—	—	—	—	—	—	—	—	—
Proceeds from Disposal of Property, Equipment and Capitalized Software
Purchases of Investments	-20,162	-27,308	-18,314	-18,825	-17,139	-16,577	-18,131	-14,010	-14,588	-17,547	-9,939
Purchases of Investments
Proceeds from Sale of Investments	20,492	27,833	16,537	11,988	15,296	13,741	15,627	9,911	10,269	11,620	9,408
Maturities and Sales of Investments
Sales of Investments
Maturities of Investments
Payments for Business Acquisitions	-6,170	-13,408	-10,136	-21,458	-4,821	-7,139	-8,343	-5,997	-2,131	-1,760	-16,164
Cash Paid for Acquisitions and Other Transactions, Net of Cash Assumed
Proceeds from Business Divestments	—	2,041	685	3,414	15	221	—	—	—	—	—
Cash Received from Dispositions and Other Strategic Transactions, Net
Other Investing Activities	321	-6,186	-960	-793	-1,269	-727	219	-226	-126	37	-144
Loans to Care Providers - Cyberattack
Repayments of Care Provider Loans - Cyberattack
Other, Net
Cash from Investing Activities	-7,193	-20,527	-15,574	-28,476	-10,372	-12,532	-12,699	-12,385	-8,599	-9,355	-18,395
Cash Flows Provided by Investing Activities

Financing Activities	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16	Dec '15
Issuance of Short-Term Debt	1,509	-151	11	732	-1,302	872	300	-201	-3,508	—	3,666
Proceeds from Short-Term Borrowings, Net
Repayments of Short-Term Debt	—	—	—	—	—	—	—	—	—	-382	—
Repayments of Short-Term Borrowings, Net
Net Issuance / (Repayments) of Short-Term Debt	1,509	-151	11	732	-1,302	872	300	-201	-3,508	-382	3,666
Issuance of Long-Term Debt	—	17,811	6,394	14,819	6,933	4,864	5,444	6,935	5,291	3,968	11,982
Proceeds from Issuance of Long-Term Debt
Repayments of Long-Term Debt	—	-3,000	-2,125	-3,015	-3,150	-3,150	-1,750	-2,600	-4,398	-2,596	-1,041
Repayments of Long-Term Debt
Repayments of Convertible Subordinated Debentures
Net Issuance / (Repayments) of Long-Term Debt	—	14,811	4,269	11,804	3,783	1,714	3,694	4,335	893	1,372	10,941
Issuance of Common Shares	1,038	1,846	1,353	1,253	1,355	1,440	1,037	838	688	429	402
Proceeds from Common Stock Issuances
Repurchases of Common Shares	—	-9,000	-8,000	-7,000	-5,000	-4,250	-5,500	-4,500	-1,500	-1,280	-1,200
Common Share Repurchases
Net Issuance / (Repurchases) of Common Shares	1,038	-7,154	-6,647	-5,747	-3,645	-2,810	-4,463	-3,662	-812	-851	-798
Common Share Dividends Paid	-7,846	-7,533	-6,761	-5,991	-5,280	-4,584	-3,932	-3,320	-2,773	-2,261	-1,786
Cash Dividends Paid
Other Financing Activities	-3,328	-3,485	-2,401	3,428	-1,011	1,218	-1,224	-1,517	2,759	1,111	216
Share-Based Compensation Excess Tax Benefit
Proceeds from Interest Rate Swap Termination
Customer Funds Administered
Checks Outstanding
Other
Purchases of Redeemable Noncontrolling Interests
Other, Net
Cash from Financing Activities	-18,955	-3,512	-11,529	4,226	-7,455	-3,590	-5,625	-4,365	-3,441	-1,011	12,239
Cash Flows from Financing Activities

Free Cash Flow	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16	Dec '15
Free Cash Flow	17,372	20,705	25,682	23,404	19,889	20,123	16,392	13,650	11,573	8,090	8,184
NOPAT	21,805.5	24,518.9	25,724.6	22,278	19,051.4	17,033.3	15,588.4	13,469.2	11,738.4	7,709.2	6,321.1
Levered Free Cash Flow	17,160	28,628	29,285	34,489	20,683	22,626	18,182	16,695	8,887	8,104	20,699
Unlevered Free Cash Flow	19,083.5	23,244.9	27,585.6	23,592	19,521.4	21,304.3	15,537.4	13,648.2	12,417.4	7,750.2	6,545.1
Net Change in Cash	-5,190	165	1,965	1,956	4,516	6,052	139	-1,037	1,556	-571	3,584