XML 38 R20.htm IDEA: XBRL DOCUMENT
v3.24.0.1

INCOME TAXES | 12 Months Ended
--- | ---
Dec. 31, 2023
Income Tax Disclosure [Abstract] |
INCOME TAXES | INCOME TAXES The provision for income taxes consisted of the following for the years ended December 31, 2023, 2022 and 2021:
| 2023 |  | 2022 |  | 2021
| (in millions)
Current provision: |  |  |  |  |
Federal | $ | 915 |  |  | $ | 755 |  |  | $ | 466 |
States and Puerto Rico | 85 |  |  | 107 |  |  | 4 |
Total current provision | 1,000 |  |  | 862 |  |  | 470 |
Deferred (benefit) expense | (164) |  |  | (100) |  |  | 15 |
Provision for income taxes | $ | 836 |  |  | $ | 762 |  |  | $ | 485 |
The provision for income taxes was different from the amount computed using the federal statutory rate for the years ended December 31, 2023, 2022 and 2021 due to the following:
| 2023 |  | 2022 |  | 2021
| (in millions)
Income tax provision at federal statutory rate | $ | 698 |  |  | $ | 750 |  |  | $ | 718 |
States, net of federal benefit, and Puerto Rico | 61 |  |  | 49 |  |  | 18 |
Tax exempt investment income | (3) |  |  | (3) |  |  | (3) |
Nondeductible executive compensation | 19 |  |  | 30 |  |  | 33 |
Non-taxable KAH gain | — |  |  | — |  |  | (264) |
Tax effect from sale of Gentiva Hospice | — |  |  | (72) |  |  | — |
Unrecognized Tax Benefits | 37 |  |  | — |  |  | — |
Other, net | 24 |  |  | 8 |  |  | (17) |
Provision for income taxes | $ | 836 |  |  | $ | 762 |  |  | $ | 485 |
Deferred income tax balances reflect the impact of temporary differences between the tax bases of assets or liabilities and their reported amounts in our consolidated financial statements, and are stated at enacted tax rates expected to be in effect when the reported amounts are actually recovered or settled. Principal components of our net deferred tax balances at December 31, 2023 and 2022 were as follows:
| Assets (Liabilities)
| 2023 |  | 2022
| (in millions)
Net operating loss carryforward | $ | 84 |  |  | $ | 105 |
Compensation and other accrued expense | 218 |  |  | 158 |
Benefits payable | 150 |  |  | 103 |
Deferred acquisition costs | 43 |  |  | 43 |
Jobs tax credits | — |  |  | 22 |
Other | 16 |  |  | 16 |
Unearned revenues | 5 |  |  | 7 |
Investment securities | 419 |  |  | 454 |
Total deferred income tax assets | 935 |  |  | 908 |
Valuation allowance | (73) |  |  | (57) |
Total deferred income tax assets, net of valuation allowance | 862 |  |  | 851 |
Depreciable property and intangible assets | (642) |  |  | (740) |
Prepaid expenses | (156) |  |  | (132) |
Other | (16) |  |  | (6) |
Total deferred income tax liabilities | (814) |  |  | (878) |
Total net deferred income tax assets (liabilities) | $ | 48 |  |  | $ | (27) |
All deferred tax assets and liabilities are classified as noncurrent in our consolidated balance sheets as other long-term assets and liabilities at December 31, 2023 and 2022, respectively. At December 31, 2023, we had approximately $7 million of federal net operating losses and approximately $1.2 billion of pre-apportioned state and Puerto Rico net operating losses to carry forward. A portion of these loss carryforwards, if not used to offset future taxable income, will expire from 2024 through 2041. The balance of the net operating loss carryforwards has no expiration date. Due to limitations and uncertainty regarding our ability to use some of the loss carryforwards and certain other deferred tax assets, a valuation allowance of $73 million was established. For the remainder of the net operating loss carryforwards and other cumulative temporary differences, based on our historical record of producing taxable income and profitability, we have concluded that future operating income will be sufficient to recover these deferred tax assets. We file income tax returns in the United States and Puerto Rico. The U.S. Internal Revenue Service, or IRS, has completed its examinations of our consolidated income tax returns for 2021 and prior years. Our 2022 tax return is in the post-filing review period under the Compliance Assurance Process, or CAP. Our 2023 tax return is under advance review by the IRS under CAP. With a few exceptions, which are immaterial in the aggregate, we are no longer subject to state, local and foreign tax examinations for years before 2020. We are not aware of any material adjustments that may be proposed as a result of any ongoing or future examinations. We do not have material uncertain tax positions reflected in our consolidated balance sheets.

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480990/946-20-50-13 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(2)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//740/tableOfContent Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 14 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-14 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-21 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 270 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482526/740-270-50-1 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 17 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-17 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 6.I.5.Q1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 11.C) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482603/740-30-50-2 + Details
Name: | us-gaap_IncomeTaxDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration