Schedule I (Tables)

12 Months Ended

Dec. 31, 2023

Maturities of short-term borrowings and long-term debt for the years ending December 31 are as follows:

Condensed Financial Information of Registrant

(Parent Company Only)

UnitedHealth Group

Condensed Balance Sheets


(in millions, except per share data)	December 31, 2023		December 31, 2022
Assets
Current assets:
Cash and cash equivalents	$	776	$	266
Other current assets	570		753
Total current assets	1,346		1,019
Equity in net assets of subsidiaries	153,692		136,562
Long-term notes receivable from subsidiaries	5,693		6,201
Other assets	831		504
Total assets	$	161,562	$	144,286

Liabilities and shareholders’ equity
Current liabilities:
Accounts payable and accrued liabilities	$	1,116	$	835
Current portion of notes payable to subsidiaries	9,887		8,699
Short-term borrowings and current maturities of long-term debt	4,086		2,918
Total current liabilities	15,089		12,452
Long-term debt, less current maturities	57,387		53,838
Other liabilities	330		224
Total liabilities	72,806		66,514
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; 924 and 934 issued and outstanding	9		9
Retained earnings	95,774		86,156
Accumulated other comprehensive loss	(7,027)		(8,393)
Total UnitedHealth Group shareholders’ equity	88,756		77,772
Total liabilities and shareholders’ equity	$	161,562	$	144,286

Condensed Financial Information of Registrant

(Parent Company Only)

UnitedHealth Group

Condensed Statements of Comprehensive Income


	For the Years Ended December 31,
(in millions)	2023		2022		2021
Revenues:
Investment and other income	$	312	$	255	$	494
Total revenues	312		255		494
Operating costs:
Operating costs	35		121		40
Interest expense	3,469		2,110		1,583
Total operating costs	3,504		2,231		1,623
Loss before income taxes	(3,192)		(1,976)		(1,129)
Benefit for income taxes	654		429		231
Loss of parent company	(2,538)		(1,547)		(898)
Equity in undistributed income of subsidiaries	24,919		21,667		18,183
Net earnings	22,381		20,120		17,285
Other comprehensive income (loss)	1,366		(3,009)		(1,570)
Comprehensive income	$	23,747	$	17,111	$	15,715

Condensed Financial Information of Registrant

(Parent Company Only)

UnitedHealth Group

Condensed Statements of Cash Flows


	For the Years Ended December 31,
(in millions)	2023		2022		2021
Operating activities
Cash flows from operating activities	$	17,443	$	14,754	$	11,439
Investing activities
Issuances of notes to subsidiaries	(41)		(567)		(444)
Repayments of notes to subsidiaries	817		281		37
Cash paid for acquisitions	(8,144)		(20,728)		(4,953)
Return of capital to parent company	639		1,424		245
Capital contributions to subsidiaries	(2,472)		(570)		(747)
Cash received from dispositions	624		2,787		—
Other, net	286		—		—
Cash flows used for investing activities	(8,291)		(17,373)		(5,862)
Financing activities
Common stock repurchases	(8,000)		(7,000)		(5,000)
Proceeds from common stock issuances	1,353		1,253		1,355
Cash dividends paid	(6,761)		(5,991)		(5,280)
Proceed from (repayments of) short-term borrowings, net	11		732		(1,302)
Proceeds from issuance of long-term debt	6,394		14,819		6,933
Repayments of long-term debt	(2,125)		(3,015)		(3,150)
Proceeds from notes from subsidiaries	1,188		594		3,223
Other, net	(702)		(674)		(447)
Cash flows from (used for) financing activities	(8,642)		718		(3,668)
Increase (decrease) in cash and cash equivalents	510		(1,901)		1,909
Cash and cash equivalents, beginning of period	266		2,167		258
Cash and cash equivalents, end of period	$	776	$	266	$	2,167

Supplemental cash flow disclosures
Cash paid for interest	$	3,257	$	1,969	$	1,575
Cash paid for income taxes	4,426		4,298		3,050

Maturities of short-term borrowings and long-term debt for the years ending December 31 are as follows: