XML 17 R7.htm IDEA: XBRL DOCUMENT v3.25.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities    
Net income $ 1,242 $ 739
Adjustments to reconcile net income to net cash provided by operating activities:    
Gain on investment securities, net (2) (1)
Equity in net losses 43 24
Stock-based compensation 49 45
Depreciation 200 226
Amortization 15 16
Impairment of property and equipment 9 33
Changes in operating assets and liabilities, net of effect of businesses acquired and disposed:    
Receivables (1,755) (1,890)
Other assets (686) 97
Benefits payable 1,011 1,488
Other liabilities 193 (422)
Unearned revenues 5 35
Other 7 33
Net cash provided by operating activities 331 423
Cash flows from investing activities    
Acquisitions, net of cash and cash equivalents acquired 0 (14)
Purchases of property and equipment, net (95) (177)
Purchases of investment securities (827) (1,259)
Proceeds from maturities of investment securities 889 645
Proceeds from sales of investment securities 522 391
Changes in securities lending collateral receivable (175) 0
Net cash provided by (used in) investing activities 314 (414)
Cash flows from financing activities    
(Payments) receipts from contract deposits, net (35) 499
Proceeds from issuance of senior notes, net 1,481 2,232
Repayments from issuance of commercial paper, net (4) (644)
Debt issue costs (3) (5)
Change in book overdraft (33) (20)
Common stock repurchases (9) (717)
Dividends paid (108) (109)
Changes in securities lending payable 175 0
Changes in rebate factor payable (68) 0
Other (12) (29)
Net cash provided by financing activities 1,384 1,207
Increase in cash and cash equivalents 2,029 1,216
Cash and cash equivalents at beginning of period 2,221 4,694
Cash and cash equivalents at end of period 4,250 5,910
Supplemental cash flow disclosures:    
Interest payments 143 158
Income tax (refunds) payments, net (12) 1
Details of businesses acquired in purchase transactions:    
Fair value of assets acquired, net of cash and cash equivalents acquired 0 22
Less: Fair value of liabilities assumed 0 (8)
Cash paid for acquired businesses, net of cash and cash equivalents acquired $ 0 $ 14