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Disposition and Held for Sale (Notes)

6 Months Ended

Jun. 30, 2024

Discontinued Operations and Disposal Groups [Abstract]

Dispositions and Held for Sale [Text Block]

Disposition and Held for Sale

On February 6, 2024, the Company completed the sale of its Brazil operations. During the six months ended June 30, 2024, the Company recorded a loss of $7.1 billion within the Condensed Consolidated Statement of Operations, of which $4.1 billion related to the impact of cumulative foreign currency translation losses previously included in accumulated other comprehensive loss.

In the second quarter of 2024, the Company initiated a plan to sell its remaining South American operations. The sales are expected to close within a year, subject to regulatory and other customary closing conditions. The Company determined that the businesses are classified as held for sale. Assets and liabilities held for sale have been included within prepaid and other current assets and other current liabilities on the Condensed Consolidated Balance Sheet, respectively. In the second quarter of 2024, the Company recorded a loss of $1.2 billion within the Condensed Consolidated Statements of Operations, of which $867 million related to the impact of cumulative foreign currency translation losses.

The assets and liabilities of the Brazil and held for sale disposal groups as of the date of the sale and as of June 30, 2024, respectively, were as follows:

(in millions)						Brazil Disposition						Businesses Held for Sale
Assets
Cash and cash equivalents						$	778					$	265
Accounts receivable and other current assets						515						608
Long-term investments						788						39
Property, equipment and capitalized software						1,052						633
Deferred tax assets						1,035						—
Goodwill and other intangible assets						317						445
Other long-term assets						439						246
Remeasurement of assets of businesses held for sale to fair value less cost to sell(1)						—						(1,225)
Total assets						$	4,924					$	1,011
Liabilities
Medical costs payable						$	701					$	179
Accounts payable and other current liabilities						834						378
Other long-term liabilities						136						524
Total liabilities						$	1,671					$	1,081

(1)      Includes the effect of $867 million of cumulative foreign currency translation losses and $52 million of noncontrolling interests.

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- References

No definition available.

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- Definition

The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/205-20/tableOfContent

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 360
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/360/tableOfContent

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