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v3.23.2

SEGMENT INFORMATION (Tables) | 6 Months Ended
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Jun. 30, 2023
Segment Reporting [Abstract] |
Schedule of Segment Results | Our segment results were as follows for the three and six months ended June 30, 2023 and 2022:
| Insurance |  | CenterWell |  | Eliminations/ Corporate |  | Consolidated
Three months ended June 30, 2023 | (in millions)
External revenues |  |  |  |  |  |
Premiums: |  |  |  |  |  |  |
Individual Medicare Advantage | $ | 19,749 |  |  | $ | — |  |  | $ | — |  |  | $ | 19,749 |
Group Medicare Advantage | 1,732 |  |  | — |  |  | — |  |  | 1,732 |
Medicare stand-alone PDP | 568 |  |  | — |  |  | — |  |  | 568 |
Total Medicare | 22,049 |  |  | — |  |  | — |  |  | 22,049 |
Commercial fully-insured | 950 |  |  | — |  |  | — |  |  | 950 |
Specialty benefits | 252 |  |  | — |  |  | — |  |  | 252 |
Medicare Supplement | 182 |  |  | — |  |  | — |  |  | 182 |
Medicaid and other | 2,062 |  |  | — |  |  | — |  |  | 2,062 |
Total premiums | 25,495 |  |  | — |  |  | — |  |  | 25,495 |
Services revenue: |  |  |  |  |  |  |
Home solutions | — |  |  | 341 |  |  | — |  |  | 341 |
Provider services | — |  |  | 190 |  |  | — |  |  | 190 |
Commercial ASO | 64 |  |  | — |  |  | — |  |  | 64 |
Military and other | 167 |  |  | — |  |  | — |  |  | 167 |
Pharmacy solutions | — |  |  | 216 |  |  | — |  |  | 216 |
Total services revenue | 231 |  |  | 747 |  |  | — |  |  | 978 |
Total external revenues | 25,726 |  |  | 747 |  |  | — |  |  | 26,473 |
Intersegment revenues |  |  |  |  |  |  |
Services | 15 |  |  | 1,144 |  |  | (1,159) |  |  | — |
Products | — |  |  | 2,639 |  |  | (2,639) |  |  | — |
Total intersegment revenues | 15 |  |  | 3,783 |  |  | (3,798) |  |  | — |
Investment income | 134 |  |  | — |  |  | 140 |  |  | 274 |
Total revenues | 25,875 |  |  | 4,530 |  |  | (3,658) |  |  | 26,747 |
Operating expenses: |  |  |  |  |  |  |
Benefits | 22,127 |  |  | — |  |  | (118) |  |  | 22,009 |
Operating costs | 2,545 |  |  | 4,193 |  |  | (3,627) |  |  | 3,111 |
Depreciation and amortization | 172 |  |  | 50 |  |  | (31) |  |  | 191 |
Total operating expenses | 24,844 |  |  | 4,243 |  |  | (3,776) |  |  | 25,311 |
Income from operations | 1,031 |  |  | 287 |  |  | 118 |  |  | 1,436 |
Interest expense | — |  |  | 1 |  |  | 119 |  |  | 120 |
Other expense, net | — |  |  | — |  |  | 54 |  |  | 54 |
Income (loss) before income taxes and equity in net earnings | 1,031 |  |  | 286 |  |  | (55) |  |  | 1,262 |
Equity in net earnings (losses) | 1 |  |  | (11) |  |  | — |  |  | (10) |
Segment earnings (loss) | $ | 1,032 |  |  | $ | 275 |  |  | $ | (55) |  |  | $ | 1,252 |
Net loss attributable to noncontrolling interests | 3 |  |  | — |  |  | — |  |  | 3 |
Segment earnings (loss) attributable to Humana | $ | 1,035 |  |  | $ | 275 |  |  | $ | (55) |  |  | $ | 1,255 |
| Insurance |  | CenterWell |  | Eliminations/ Corporate |  | Consolidated
Three months ended June 30, 2022 | (in millions)
External revenues |  |  |  |  |  |
Premiums: |  |  |  |  |  |  |
Individual Medicare Advantage | $ | 16,692 |  |  | $ | — |  |  | $ | — |  |  | $ | 16,692 |
Group Medicare Advantage | 1,857 |  |  | — |  |  | — |  |  | 1,857 |
Medicare stand-alone PDP | 606 |  |  | — |  |  | — |  |  | 606 |
Total Medicare | 19,155 |  |  | — |  |  | — |  |  | 19,155 |
Commercial fully-insured | 1,109 |  |  | — |  |  | — |  |  | 1,109 |
Specialty benefits | 261 |  |  | — |  |  | — |  |  | 261 |
Medicare Supplement | 185 |  |  | — |  |  | — |  |  | 185 |
Medicaid and other | 1,556 |  |  | — |  |  | — |  |  | 1,556 |
Total premiums | 22,266 |  |  | — |  |  | — |  |  | 22,266 |
Services revenue: |  |  |  |  |  |  |
Home solutions | — |  |  | 752 |  |  | — |  |  | 752 |
Provider services | — |  |  | 137 |  |  | — |  |  | 137 |
Commercial ASO | 75 |  |  | — |  |  | — |  |  | 75 |
Military and other | 131 |  |  | — |  |  | — |  |  | 131 |
Pharmacy solutions | — |  |  | 254 |  |  | — |  |  | 254 |
Total services revenue | 206 |  |  | 1,143 |  |  | — |  |  | 1,349 |
Total external revenues | 22,472 |  |  | 1,143 |  |  | — |  |  | 23,615 |
Intersegment revenues |  |  |  |  |  |  |
Services | 14 |  |  | 894 |  |  | (908) |  |  | — |
Products | — |  |  | 2,489 |  |  | (2,489) |  |  | — |
Total intersegment revenues | 14 |  |  | 3,383 |  |  | (3,397) |  |  | — |
Investment income | 46 |  |  | 1 |  |  | — |  |  | 47 |
Total revenues | 22,532 |  |  | 4,527 |  |  | (3,397) |  |  | 23,662 |
Operating expenses: |  |  |  |  |  |  |
Benefits | 19,164 |  |  | — |  |  | (65) |  |  | 19,099 |
Operating costs | 2,105 |  |  | 4,125 |  |  | (3,057) |  |  | 3,173 |
Depreciation and amortization | 156 |  |  | 44 |  |  | (25) |  |  | 175 |
Total operating expenses | 21,425 |  |  | 4,169 |  |  | (3,147) |  |  | 22,447 |
Income (loss) from operations | 1,107 |  |  | 358 |  |  | (250) |  |  | 1,215 |
Interest expense | — |  |  | — |  |  | 101 |  |  | 101 |
Other income, net | — |  |  | — |  |  | (8) |  |  | (8) |
Income (loss) before income taxes and equity in net earnings | 1,107 |  |  | 358 |  |  | (343) |  |  | 1,122 |
Equity in net earnings (losses) | 8 |  |  | (6) |  |  | — |  |  | 2 |
Segment earnings (loss) | $ | 1,115 |  |  | $ | 352 |  |  | $ | (343) |  |  | $ | 1,124 |
Net income attributable to noncontrolling interests | — |  |  | (1) |  |  | — |  |  | (1) |
Segment earnings (loss) attributable to Humana | $ | 1,115 |  |  | $ | 351 |  |  | $ | (343) |  |  | $ | 1,123 |
| Insurance |  | CenterWell |  |  |  |  |  | Eliminations/ Corporate |  | Consolidated
Six months ended June 30, 2023 | (in millions)
External revenues |  |  |  |  |  |  |  |  |  |
Premiums: |  |  |  |  |  |  |  |  |  |  |
Individual Medicare Advantage | $ | 39,558 |  |  | $ | — |  |  |  |  |  |  | $ | — |  |  | $ | 39,558 |
Group Medicare Advantage | 3,497 |  |  | — |  |  |  |  |  |  | — |  |  | 3,497 |
Medicare stand-alone PDP | 1,184 |  |  | — |  |  |  |  |  |  | — |  |  | 1,184 |
Total Medicare | 44,239 |  |  | — |  |  |  |  |  |  | — |  |  | 44,239 |
Commercial fully-insured | 1,968 |  |  | — |  |  |  |  |  |  | — |  |  | 1,968 |
Specialty benefits | 506 |  |  | — |  |  |  |  |  |  | — |  |  | 506 |
Medicare Supplement | 361 |  |  | — |  |  |  |  |  |  | — |  |  | 361 |
Medicaid and other | 3,971 |  |  | — |  |  |  |  |  |  | — |  |  | 3,971 |
Total premiums | 51,045 |  |  | — |  |  |  |  |  |  | — |  |  | 51,045 |
Services revenue: |  |  |  |  |  |  |  |  |  |  |
Home solutions | — |  |  | 655 |  |  |  |  |  |  | — |  |  | 655 |
Provider services | — |  |  | 391 |  |  |  |  |  |  | — |  |  | 391 |
Commercial ASO | 135 |  |  | — |  |  |  |  |  |  | — |  |  | 135 |
Military and other | 338 |  |  | — |  |  |  |  |  |  | — |  |  | 338 |
Pharmacy solutions | — |  |  | 458 |  |  |  |  |  |  | — |  |  | 458 |
Total services revenue | 473 |  |  | 1,504 |  |  |  |  |  |  | — |  |  | 1,977 |
Total external revenues | 51,518 |  |  | 1,504 |  |  |  |  |  |  | — |  |  | 53,022 |
Intersegment revenues |  |  |  |  |  |  |  |  |  |  |
Services | 29 |  |  | 2,277 |  |  |  |  |  |  | (2,306) |  |  | — |
Products | — |  |  | 5,254 |  |  |  |  |  |  | (5,254) |  |  | — |
Total intersegment revenues | 29 |  |  | 7,531 |  |  |  |  |  |  | (7,560) |  |  | — |
Investment income | 231 |  |  | — |  |  |  |  |  |  | 236 |  |  | 467 |
Total revenues | 51,778 |  |  | 9,035 |  |  |  |  |  |  | (7,324) |  |  | 53,489 |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |
Benefits | 44,120 |  |  | — |  |  |  |  |  |  | (253) |  |  | 43,867 |
Operating costs | 4,963 |  |  | 8,319 |  |  |  |  |  |  | (7,192) |  |  | 6,090 |
Depreciation and amortization | 337 |  |  | 99 |  |  |  |  |  |  | (59) |  |  | 377 |
Total operating expenses | 49,420 |  |  | 8,418 |  |  |  |  |  |  | (7,504) |  |  | 50,334 |
Income from operations | 2,358 |  |  | 617 |  |  |  |  |  |  | 180 |  |  | 3,155 |
Interest expense | — |  |  | 1 |  |  |  |  |  |  | 232 |  |  | 233 |
Other expense, net | — |  |  | — |  |  |  |  |  |  | 46 |  |  | 46 |
Income (loss) before income taxes and equity in net losses | 2,358 |  |  | 616 |  |  |  |  |  |  | (98) |  |  | 2,876 |
Equity in net losses | (2) |  |  | (25) |  |  |  |  |  |  | — |  |  | (27) |
Segment earnings (loss) | $ | 2,356 |  |  | $ | 591 |  |  |  |  |  |  | $ | (98) |  |  | $ | 2,849 |
Net loss attributable to noncontrolling interests | 4 |  |  | — |  |  |  |  |  |  | — |  |  | 4 |
Segment earnings (loss) attributable to Humana | $ | 2,360 |  |  | $ | 591 |  |  |  |  |  |  | $ | (98) |  |  | $ | 2,853 |
| Insurance |  | CenterWell |  | Eliminations/ Corporate |  | Consolidated
Six months ended June 30, 2022 | (in millions)
External Revenues |  |  |  |  |  |
Premiums: |  |  |  |  |  |  |
Individual Medicare Advantage | $ | 33,744 |  |  | $ | — |  |  | $ | — |  |  | $ | 33,744 |
Group Medicare Advantage | 3,732 |  |  | — |  |  | — |  |  | 3,732 |
Medicare stand-alone PDP | 1,245 |  |  | — |  |  | — |  |  | 1,245 |
Total Medicare | 38,721 |  |  | — |  |  | — |  |  | 38,721 |
Commercial fully-insured | 2,249 |  |  | — |  |  | — |  |  | 2,249 |
Specialty benefits | 522 |  |  | — |  |  | — |  |  | 522 |
Medicare Supplement | 367 |  |  | — |  |  | — |  |  | 367 |
Medicaid and other | 3,110 |  |  | — |  |  | — |  |  | 3,110 |
Total premiums | 44,969 |  |  | — |  |  | — |  |  | 44,969 |
Services revenue: |  |  |  |  |  |  |
Home solutions | — |  |  | 1,478 |  |  | — |  |  | 1,478 |
Provider services | — |  |  | 250 |  |  | — |  |  | 250 |
Commercial ASO | 152 |  |  | — |  |  | — |  |  | 152 |
Military and other | 258 |  |  | — |  |  | — |  |  | 258 |
Pharmacy solutions | — |  |  | 475 |  |  | — |  |  | 475 |
Total services revenue | 410 |  |  | 2,203 |  |  | — |  |  | 2,613 |
Total external revenues | 45,379 |  |  | 2,203 |  |  | — |  |  | 47,582 |
Intersegment revenues |  |  |  |  |  |  |
Services | 28 |  |  | 1,751 |  |  | (1,779) |  |  | — |
Products | — |  |  | 4,935 |  |  | (4,935) |  |  | — |
Total intersegment revenues | 28 |  |  | 6,686 |  |  | (6,714) |  |  | — |
Investment income (loss) | 92 |  |  | 3 |  |  | (45) |  |  | 50 |
Total revenues | 45,499 |  |  | 8,892 |  |  | (6,759) |  |  | 47,632 |
Operating expenses: |  |  |  |  |  |  |
Benefits | 38,898 |  |  | — |  |  | (174) |  |  | 38,724 |
Operating costs | 4,192 |  |  | 8,073 |  |  | (6,206) |  |  | 6,059 |
Depreciation and amortization | 306 |  |  | 91 |  |  | (52) |  |  | 345 |
Total operating expenses | 43,396 |  |  | 8,164 |  |  | (6,432) |  |  | 45,128 |
Income (loss) from operations | 2,103 |  |  | 728 |  |  | (327) |  |  | 2,504 |
Interest expense | — |  |  | — |  |  | 191 |  |  | 191 |
Other income, net | — |  |  | — |  |  | (29) |  |  | (29) |
Income (loss) before income taxes and equity in net losses | 2,103 |  |  | 728 |  |  | (489) |  |  | 2,342 |
Equity in net earnings (losses) | 8 |  |  | (10) |  |  | — |  |  | (2) |
Segment earnings (loss) | $ | 2,111 |  |  | $ | 718 |  |  | $ | (489) |  |  | $ | 2,340 |
Net income attributable to noncontrolling interests | — |  |  | (1) |  |  | — |  |  | (1) |
Segment earnings (loss) attributable to Humana | $ | 2,111 |  |  | $ | 717 |  |  | $ | (489) |  |  | $ | 2,339 |

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