Business Combinations (Notes)

9 Months Ended

Sep. 30, 2022

Business Combination and Asset Acquisition [Abstract]

Business Combinations

During the nine months ended September 30, 2022, the Company completed several business combinations for total consideration of $8.2 billion.

Acquired assets (liabilities) at acquisition date were:


(in millions)
Cash and cash equivalents	$	517
Accounts receivable and other current assets	550
Property, equipment and other long-term assets	1,529
Other intangible assets	1,815
Total identifiable assets acquired	4,411
Medical costs payable	(177)
Accounts payable and other current liabilities	(660)
Other long-term liabilities	(580)
Total identifiable liabilities acquired	(1,417)
Total net identifiable assets	2,994
Goodwill	8,393
Redeemable noncontrolling interests	(3,104)
Nonredeemable noncontrolling interests	(133)
Net assets acquired	$	8,150

The majority of goodwill is not deductible for income tax purposes. The preliminary purchase price allocations for the various business combinations are subject to adjustment as valuation analyses, primarily related to intangible assets and contingent liabilities, are finalized.

The acquisition date fair values and weighted-average useful lives assigned to finite-lived intangible assets were:

(in millions, except years)

Fair Value

Weighted-Average Useful Life

Customer-related

915

9 years

Trademarks and technology

802

9 years

Other

11 years

Total acquired finite-lived intangible assets

1,800

9 years

The results of operations and financial condition of acquired entities have been included in the Company’s consolidated results and the results of the corresponding operating segment as of the date of acquisition. Through September 30, 2022, acquired entities impact on revenues and net earnings was not material.

Unaudited pro forma revenues and net earnings for the nine months ended September 30, 2022 and 2021 as if the business combinations had occurred on January 1, 2021 were immaterial for both periods.