v3.8.0.1

Acquisitions and Noncontrolling Interest | 12 Months Ended
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Dec. 31, 2017
Business Combinations [Abstract] |
Acquisitions and Noncontrolling Interest | Acquisitions and Noncontrolling Interest Acquisitions Fidelis Care Transaction. In September 2017, the Company signed a definitive agreement under which New York State Catholic Health Plan, Inc., d/b/a Fidelis Care New York (Fidelis Care), (Proposed Fidelis Acquisition or Fidelis Care Transaction) will become the Company's health plan in New York State. Under the terms of the agreement, the Company will acquire substantially all of the assets of Fidelis Care for $3.75 billion, subject to certain adjustments. Foundation Care. On October 1, 2017, the Company acquired 80% of a national, full-service specialty pharmacy, providing service to patients with certain chronic respiratory and digestive conditions for $59 million. The fair value of consideration consists of initial cash consideration of $53 million, the present value of deferred consideration of $2 million to be paid out over a two year period, and the fair value of estimated contingent consideration of $4 million. The contingent consideration is based upon meeting certain one-year performance metrics and will not exceed $32 million. The Company's preliminary allocation of fair value resulted in goodwill of $37 million (which is deductible for income tax purposes) and other identifiable intangible assets of $16 million. The Company has not finalized the allocation of the fair value of assets and liabilities. The acquisition is recorded in the Specialty Services segment. USMM. In August 2017, the Company acquired the remaining 32% interest of U.S. Medical Management (USMM), a management services organization and provider of home-based primary care services for high acuity populations, for $86 million in total consideration. The transaction consideration consisted of $33 million of cash, $33 million of deferred consideration and $20 million related to the settlement of a receivable from the former noncontrolling interest holder. Health Net. On March 24, 2016, the Company acquired all of the issued and outstanding shares of Health Net, a publicly traded managed care organization that delivers healthcare services through health plans and government-sponsored managed care plans. See Note 3, Health Net, for further discussion. Noncontrolling Interest The Company has consolidated subsidiaries where it maintains less than 100% ownership. The Company’s ownership interest for each subsidiary as of December 31, are as follows:
|  | 2017 |  | 2016 |  | 2015
Arkansas Total Care |  | 74 | % |  | — | % |  | — | %
Celtic Insurance Company |  | 100 | % |  | 100 | % |  | 75 | %
Cenpatico Integrated Care |  | 80 | % |  | 80 | % |  | 80 | %
Centurion |  | 51 | % |  | 51 | % |  | 51 | %
Foundation Care (1) |  | 80 | % |  | — | % |  | — | %
Home State Health Plan |  | 95 | % |  | 95 | % |  | 95 | %
The Practice (Group) Limited (TPG) (2) |  | 75 | % |  | 75 | % |  | 49 | %
U.S. Medical Management (3) |  | 100 | % |  | 68 | % |  | 68 | %
(1) In 2017, the Company purchased a controlling interest in Foundation Care for $59 million. (2) In 2016, the Company purchased a controlling interest in TPG for $8 million. (3) In 2017, the Company purchased the remaining interest in USMM fo r $86 million. Redeemable Noncontrolling Interest As a result of put option agreements, noncontrolling interest is considered redeemable and is classified in the Redeemable Noncontrolling Interest section of the Consolidated Balance Sheets. Noncontrolling interest is initially measured at fair value using the binomial lattice model as of the acquisition date. The Company has elected to accrete changes in the redemption value through additional paid-in capital over the period from the date of issuance to the earliest redemption date following the effective interest method. A reconciliation of the changes in the Redeemable Noncontrolling Interest is as follows ($ in millions):
Balance, December 31, 2016 | $ | 145 |
Noncontrolling interest purchased related to USMM | (115 | )
Contribution from noncontrolling interest | 2 |
Net losses attributable to noncontrolling interests | (20 | )
Balance, December 31, 2017 | $ | 12 |
Pro forma disclosures related to the acquisitions other than Health Net (see Note 3, Health Net) have been excluded as they were deemed to be immaterial.

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