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Condensed Financial Information of Registrant (Tables) | 12 Months Ended
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Dec. 31, 2017
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Condensed Balance Sheets | Condensed Balance Sheets
| December 31,
| 2017 |  | 2016
| (In millions, except per-share data)
ASSETS
Current assets: |  |  |  |
Cash and cash equivalents | $ | 504 |  |  | $ | 86 |
Investments | 192 |  |  | 178 |
Restricted investments | 169 |  |  | — |
Receivables | 2 |  |  | 2 |
Income taxes refundable | 16 |  |  | 17 |
Due from affiliates | 148 |  |  | 104 |
Prepaid expenses and other current assets | 87 |  |  | 58 |
Derivative asset | 522 |  |  | 267 |
Total current assets | 1,640 |  |  | 712 |
Property, equipment, and capitalized software, net | 223 |  |  | 301 |
Goodwill and intangible assets, net | 15 |  |  | 58 |
Investments in subsidiaries | 2,306 |  |  | 2,609 |
Deferred income taxes | 17 |  |  | 10 |
Advances to related parties and other assets | 32 |  |  | 48 |
| $ | 4,233 |  |  | $ | 3,738 |
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities: |  |  |
Medical claims and benefits payable | $ | 3 |  |  | $ | 1 |
Accounts payable and accrued liabilities | 178 |  |  | 146 |
Current portion of long-term debt | 653 |  |  | 472 |
Derivative liability | 522 |  |  | 267 |
Total current liabilities | 1,356 |  |  | 886 |
Senior notes | 1,318 |  |  | 975 |
Lease financing obligations | 198 |  |  | 198 |
Deferred income taxes | — |  |  | 11 |
Other long-term liabilities | 24 |  |  | 19 |
Total liabilities | 2,896 |  |  | 2,089 |
Stockholders’ equity: |  |  |
Common stock, $0.001 par value; 150 shares authorized; outstanding: |  |  |  |
60 shares at December 31, 2017 and 57 shares at December 31, 2016 | — |  |  | — |
Preferred stock, $0.001 par value; 20 shares authorized, no shares issued and outstanding | — |  |  | — |
Additional paid-in capital | 1,044 |  |  | 841 |
Accumulated other comprehensive loss | (5 | ) |  | (2 | )
Retained earnings | 298 |  |  | 810 |
Total stockholders’ equity | 1,337 |  |  | 1,649 |
| $ | 4,233 |  |  | $ | 3,738 |
MOLINA HEALTHCARE, INC. CONDENSED CONSOLIDATING BALANCE SHEETS
| December 31, 2017
| Parent Guarantor |  | Other Guarantors |  | Non-Guarantors |  | Eliminations |  | Consolidated
| (In millions)
ASSETS
Current assets: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 504 |  |  | $ | 28 |  |  | $ | 2,654 |  |  | $ | — |  |  | $ | 3,186 |
Investments | 192 |  |  | — |  |  | 2,332 |  |  | — |  |  | 2,524 |
Restricted investments | 169 |  |  | — |  |  | — |  |  | — |  |  | 169 |
Receivables | 2 |  |  | 30 |  |  | 839 |  |  | — |  |  | 871 |
Income tax refundable | 16 |  |  | (8 | ) |  | 46 |  |  | — |  |  | 54 |
Due from (to) affiliates | 148 |  |  | (6 | ) |  | (142 | ) |  | — |  |  | — |
Prepaid expenses and other current assets | 87 |  |  | 22 |  |  | 92 |  |  | (16 | ) |  | 185 |
Derivative asset | 522 |  |  | — |  |  | — |  |  | — |  |  | 522 |
Total current assets | 1,640 |  |  | 66 |  |  | 5,821 |  |  | (16 | ) |  | 7,511 |
Property, equipment, and capitalized software, net | 223 |  |  | 33 |  |  | 86 |  |  | — |  |  | 342 |
Deferred contract costs | — |  |  | 101 |  |  | — |  |  | — |  |  | 101 |
Goodwill and intangible assets, net | 15 |  |  | 43 |  |  | 197 |  |  | — |  |  | 255 |
Restricted investments | — |  |  | — |  |  | 119 |  |  | — |  |  | 119 |
Investment in subsidiaries, net | 2,306 |  |  | 82 |  |  | — |  |  | (2,388 | ) |  | — |
Deferred income taxes | 17 |  |  | — |  |  | 101 |  |  | (15 | ) |  | 103 |
Other assets | 32 |  |  | 2 |  |  | 7 |  |  | (1 | ) |  | 40 |
| $ | 4,233 |  |  | $ | 327 |  |  | $ | 6,331 |  |  | $ | (2,420 | ) |  | $ | 8,471 |
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities: |  |  |  |  |  |  |  |  |
Medical claims and benefits payable | $ | 3 |  |  | $ | — |  |  | $ | 2,189 |  |  | $ | — |  |  | $ | 2,192 |
Amounts due government agencies | — |  |  | 1 |  |  | 1,541 |  |  | — |  |  | 1,542 |
Accounts payable and accrued liabilities | 178 |  |  | 40 |  |  | 148 |  |  | — |  |  | 366 |
Deferred revenue | — |  |  | 49 |  |  | 233 |  |  | — |  |  | 282 |
Current portion of long-term debt | 653 |  |  | — |  |  | 16 |  |  | (16 | ) |  | 653 |
Derivative liability | 522 |  |  | — |  |  | — |  |  | — |  |  | 522 |
Total current liabilities | 1,356 |  |  | 90 |  |  | 4,127 |  |  | (16 | ) |  | 5,557 |
Long-term debt | 1,516 |  |  | — |  |  | — |  |  | — |  |  | 1,516 |
Deferred income taxes | — |  |  | 15 |  |  | — |  |  | (15 | ) |  | — |
Other long-term liabilities | 24 |  |  | 2 |  |  | 36 |  |  | (1 | ) |  | 61 |
Total liabilities | 2,896 |  |  | 107 |  |  | 4,163 |  |  | (32 | ) |  | 7,134 |
Total stockholders’ equity | 1,337 |  |  | 220 |  |  | 2,168 |  |  | (2,388 | ) |  | 1,337 |
| $ | 4,233 |  |  | $ | 327 |  |  | $ | 6,331 |  |  | $ | (2,420 | ) |  | $ | 8,471 |
MOLINA HEALTHCARE, INC. CONDENSED CONSOLIDATING BALANCE SHEETS
| December 31, 2016
| Parent Guarantor |  | Other Guarantors |  | Non-Guarantors |  | Eliminations |  | Consolidated
| (In millions)
ASSETS
Current assets: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 86 |  |  | $ | 6 |  |  | $ | 2,727 |  |  | $ | — |  |  | $ | 2,819 |
Investments | 178 |  |  | — |  |  | 1,580 |  |  | — |  |  | 1,758 |
Receivables | 2 |  |  | 34 |  |  | 938 |  |  | — |  |  | 974 |
Income tax refundable | 17 |  |  | 4 |  |  | 18 |  |  | — |  |  | 39 |
Due from (to) affiliates | 104 |  |  | (5 | ) |  | (99 | ) |  | — |  |  | — |
Prepaid expenses and other current assets | 58 |  |  | 30 |  |  | 43 |  |  | — |  |  | 131 |
Derivative asset | 267 |  |  | — |  |  | — |  |  | — |  |  | 267 |
Total current assets | 712 |  |  | 69 |  |  | 5,207 |  |  | — |  |  | 5,988 |
Property, equipment, and capitalized software, net | 301 |  |  | 46 |  |  | 107 |  |  | — |  |  | 454 |
Deferred contract costs | — |  |  | 86 |  |  | — |  |  | — |  |  | 86 |
Goodwill and intangible assets, net | 58 |  |  | 73 |  |  | 629 |  |  | — |  |  | 760 |
Restricted investments | — |  |  | — |  |  | 110 |  |  | — |  |  | 110 |
Investment in subsidiaries, net | 2,609 |  |  | 246 |  |  | — |  |  | (2,855 | ) |  | — |
Deferred income taxes | 10 |  |  | — |  |  | — |  |  | — |  |  | 10 |
Other assets | 48 |  |  | 3 |  |  | 6 |  |  | (16 | ) |  | 41 |
| $ | 3,738 |  |  | $ | 523 |  |  | $ | 6,059 |  |  | $ | (2,871 | ) |  | $ | 7,449 |
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities: |  |  |  |  |  |  |  |  |
Medical claims and benefits payable | $ | 1 |  |  | $ | — |  |  | $ | 1,928 |  |  | $ | — |  |  | $ | 1,929 |
Amounts due government agencies | — |  |  | — |  |  | 1,202 |  |  | — |  |  | 1,202 |
Accounts payable and accrued liabilities | 146 |  |  | 34 |  |  | 205 |  |  | — |  |  | 385 |
Deferred revenue | — |  |  | 40 |  |  | 275 |  |  | — |  |  | 315 |
Current portion of long-term debt | 472 |  |  | — |  |  | — |  |  | — |  |  | 472 |
Derivative liability | 267 |  |  | — |  |  | — |  |  | — |  |  | 267 |
Total current liabilities | 886 |  |  | 74 |  |  | 3,610 |  |  | — |  |  | 4,570 |
Long-term debt | 1,173 |  |  | — |  |  | 16 |  |  | (16 | ) |  | 1,173 |
Deferred income taxes | 11 |  |  | 39 |  |  | (35 | ) |  | — |  |  | 15 |
Other long-term liabilities | 19 |  |  | 1 |  |  | 22 |  |  | — |  |  | 42 |
Total liabilities | 2,089 |  |  | 114 |  |  | 3,613 |  |  | (16 | ) |  | 5,800 |
Total stockholders’ equity | 1,649 |  |  | 409 |  |  | 2,446 |  |  | (2,855 | ) |  | 1,649 |
| $ | 3,738 |  |  | $ | 523 |  |  | $ | 6,059 |  |  | $ | (2,871 | ) |  | $ | 7,449 |
Condensed Statements of Income | Condensed Statements of Operations
| Year Ended December 31,
| 2017 |  | 2016 |  | 2015
| (In millions)
Revenue: |  |  |  |  |
Management fees | $ | 1,317 |  |  | $ | 1,062 |  |  | $ | 914 |
Investment income and other revenue | 16 |  |  | 16 |  |  | 17 |
Total revenue | 1,333 |  |  | 1,078 |  |  | 931 |
Expenses: |  |  |  |  |  |
Medical care costs | 16 |  |  | 73 |  |  | 55 |
General and administrative expenses | 1,082 |  |  | 899 |  |  | 797 |
Depreciation and amortization | 93 |  |  | 95 |  |  | 82 |
Impairment losses | 39 |  |  | — |  |  | — |
Restructuring and separation costs | 153 |  |  | — |  |  | — |
Total operating expenses | 1,383 |  |  | 1,067 |  |  | 934 |
Operating (loss) income | (50 | ) |  | 11 |  |  | (3 | )
Interest expense | 117 |  |  | 101 |  |  | 66 |
Other income | (61 | ) |  | — |  |  | — |
Loss before income taxes and equity in net income of subsidiaries | (106 | ) |  | (90 | ) |  | (69 | )
Income tax expense (benefit) | 8 |  |  | (24 | ) |  | (21 | )
Net loss before equity in net income of subsidiaries | (114 | ) |  | (66 | ) |  | (48 | )
Equity in net (loss) income of subsidiaries | (398 | ) |  | 118 |  |  | 191 |
Net (loss) income | $ | (512 | ) |  | $ | 52 |  |  | $ | 143 |
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
| Year Ended December 31, 2017
| Parent Guarantor |  | Other Guarantors |  | Non-Guarantors |  | Eliminations |  | Consolidated
| (In millions)
Revenue: |  |  |  |  |  |  |  |  |
Total revenue | $ | 1,333 |  |  | $ | 194 |  |  | $ | 19,712 |  |  | $ | (1,356 | ) |  | $ | 19,883 |
Expenses: |  |  |  |  |  |  |  |  |
Medical care costs | 16 |  |  | — |  |  | 17,058 |  |  | (1 | ) |  | 17,073 |
Cost of service revenue | — |  |  | 171 |  |  | 321 |  |  | — |  |  | 492 |
General and administrative expenses | 1,082 |  |  | 17 |  |  | 1,850 |  |  | (1,355 | ) |  | 1,594 |
Premium tax expenses | — |  |  | — |  |  | 438 |  |  | — |  |  | 438 |
Depreciation and amortization | 93 |  |  | 1 |  |  | 43 |  |  | — |  |  | 137 |
Impairment losses | 39 |  |  | 28 |  |  | 403 |  |  | — |  |  | 470 |
Restructuring and separation costs | 153 |  |  | 8 |  |  | 73 |  |  | — |  |  | 234 |
Total operating expenses | 1,383 |  |  | 225 |  |  | 20,186 |  |  | (1,356 | ) |  | 20,438 |
Operating loss | (50 | ) |  | (31 | ) |  | (474 | ) |  | — |  |  | (555 | )
Interest expense | 117 |  |  | — |  |  | 1 |  |  | — |  |  | 118 |
Other income | (61 | ) |  | — |  |  | — |  |  | — |  |  | (61 | )
Loss before income taxes | (106 | ) |  | (31 | ) |  | (475 | ) |  | — |  |  | (612 | )
Income tax expense (benefit) | 8 |  |  | (21 | ) |  | (87 | ) |  | — |  |  | (100 | )
Net loss before equity in earnings of subsidiaries | (114 | ) |  | (10 | ) |  | (388 | ) |  | — |  |  | (512 | )
Equity in net earnings of subsidiaries | (398 | ) |  | (156 | ) |  | — |  |  | 554 |  |  | — |
Net loss | $ | (512 | ) |  | $ | (166 | ) |  | $ | (388 | ) |  | $ | 554 |  |  | $ | (512 | )
| Year Ended December 31, 2016
| Parent Guarantor |  | Other Guarantors |  | Non-Guarantors |  | Eliminations |  | Consolidated
| (In millions)
Revenue: |  |  |  |  |  |  |  |  |
Total revenue | $ | 1,078 |  |  | $ | 202 |  |  | $ | 17,584 |  |  | $ | (1,082 | ) |  | $ | 17,782 |
Expenses: |  |  |  |  |  |  |  |  |
Medical care costs | 73 |  |  | — |  |  | 14,702 |  |  | (1 | ) |  | 14,774 |
Cost of service revenue | — |  |  | 174 |  |  | 311 |  |  | — |  |  | 485 |
General and administrative expenses | 899 |  |  | 16 |  |  | 1,559 |  |  | (1,081 | ) |  | 1,393 |
Premium tax expenses | — |  |  | — |  |  | 468 |  |  | — |  |  | 468 |
Health insurer fees | — |  |  | — |  |  | 217 |  |  | — |  |  | 217 |
Depreciation and amortization | 95 |  |  | 1 |  |  | 43 |  |  | — |  |  | 139 |
Total operating expenses | 1,067 |  |  | 191 |  |  | 17,300 |  |  | (1,082 | ) |  | 17,476 |
Operating income | 11 |  |  | 11 |  |  | 284 |  |  | — |  |  | 306 |
Total other expenses, net | 101 |  |  | — |  |  | — |  |  | — |  |  | 101 |
(Loss) income before income taxes | (90 | ) |  | 11 |  |  | 284 |  |  | — |  |  | 205 |
Income tax (benefit) expense | (24 | ) |  | 3 |  |  | 174 |  |  | — |  |  | 153 |
Net (loss) income before equity in earnings of subsidiaries | (66 | ) |  | 8 |  |  | 110 |  |  | — |  |  | 52 |
Equity in net earnings of subsidiaries | 118 |  |  | 1 |  |  | — |  |  | (119 | ) |  | — |
Net income | $ | 52 |  |  | $ | 9 |  |  | $ | 110 |  |  | $ | (119 | ) |  | $ | 52 |
| Year Ended December 31, 2015
| Parent Guarantor |  | Other Guarantors |  | Non-Guarantors |  | Eliminations |  | Consolidated
| (In millions)
Revenue: |  |  |  |  |  |  |  |  |
Total revenue | $ | 931 |  |  | $ | 195 |  |  | $ | 13,980 |  |  | $ | (928 | ) |  | $ | 14,178 |
Expenses: |  |  |  |  |  |  |  |  |
Medical care costs | 55 |  |  | — |  |  | 11,740 |  |  | (1 | ) |  | 11,794 |
Cost of service revenue | — |  |  | 140 |  |  | 53 |  |  | — |  |  | 193 |
General and administrative expenses | 797 |  |  | 31 |  |  | 1,245 |  |  | (927 | ) |  | 1,146 |
Premium tax expenses | — |  |  | — |  |  | 397 |  |  | — |  |  | 397 |
Health insurer fees | — |  |  | — |  |  | 157 |  |  | — |  |  | 157 |
Depreciation and amortization | 82 |  |  | 1 |  |  | 21 |  |  | — |  |  | 104 |
Total operating expenses | 934 |  |  | 172 |  |  | 13,613 |  |  | (928 | ) |  | 13,791 |
Operating (loss) income | (3 | ) |  | 23 |  |  | 367 |  |  | — |  |  | 387 |
Total other expenses, net | 66 |  |  | — |  |  | (1 | ) |  | — |  |  | 65 |
(Loss) income before income taxes | (69 | ) |  | 23 |  |  | 368 |  |  | — |  |  | 322 |
Income tax (benefit) expense | (21 | ) |  | 7 |  |  | 193 |  |  | — |  |  | 179 |
Net (loss) income before equity in earnings of subsidiaries | (48 | ) |  | 16 |  |  | 175 |  |  | — |  |  | 143 |
Equity in net earnings of subsidiaries | 191 |  |  | (1 | ) |  | — |  |  | (190 | ) |  | — |
Net income | $ | 143 |  |  | $ | 15 |  |  | $ | 175 |  |  | $ | (190 | ) |  | $ | 143 |
Condensed Statements of Comprehensive (Loss) Income | Condensed Statements of Comprehensive (Loss) Income
| Year Ended December 31,
| 2017 |  | 2016 |  | 2015
| (In millions)
Net (loss) income | $ | (512 | ) |  | $ | 52 |  |  | $ | 143 |
Other comprehensive (loss) income: |  |  |  |  |
Unrealized investment (loss) gain | (5 | ) |  | 3 |  |  | (5 | )
Less: effect of income taxes | (2 | ) |  | 1 |  |  | (2 | )
Other comprehensive (loss) income, net of tax | (3 | ) |  | 2 |  |  | (3 | )
Comprehensive (loss) income | $ | (515 | ) |  | $ | 54 |  |  | $ | 140 |
Condensed Statements of Cash Flows | Condensed Statements of Cash Flows
| Year Ended December 31,
| 2017 |  | 2016 |  | 2015
| (In millions)
Operating activities: |  |  |  |  |
Net cash provided by operating activities | $ | 166 |  |  | $ | 55 |  |  | $ | 113 |
Investing activities: |  |  |  |  |  |
Capital contributions to subsidiaries | (370 | ) |  | (386 | ) |  | (770 | )
Dividends received from subsidiaries | 286 |  |  | 101 |  |  | 142 |
Purchases of investments | (352 | ) |  | (115 | ) |  | (244 | )
Proceeds from sales and maturities of investments | 168 |  |  | 188 |  |  | 118 |
Purchases of property, equipment and capitalized software | (67 | ) |  | (125 | ) |  | (91 | )
Change in amounts due to/from affiliates | (49 | ) |  | (18 | ) |  | (68 | )
Other, net | — |  |  | 6 |  |  | — |
Net cash used in investing activities | (384 | ) |  | (349 | ) |  | (913 | )
Financing activities: |  |  |  |  |  |
Proceeds from senior notes offerings, net of issuance costs | 325 |  |  | — |  |  | 689 |
Proceeds from borrowings under credit facility | 300 |  |  | — |  |  | — |
Proceeds from common stock offering, net of issuance costs | — |  |  | — |  |  | 373 |
Proceeds from employee stock plans | 19 |  |  | 18 |  |  | 18 |
Cash paid for financing transaction fees | (7 | ) |  | — |  |  | — |
Other, net | (1 | ) |  | 2 |  |  | 5 |
Net cash provided by financing activities | 636 |  |  | 20 |  |  | 1,085 |
Net increase (decrease) in cash and cash equivalents | 418 |  |  | (274 | ) |  | 285 |
Cash and cash equivalents at beginning of year | 86 |  |  | 360 |  |  | 75 |
Cash and cash equivalents at end of year | $ | 504 |  |  | $ | 86 |  |  | $ | 360 |
MOLINA HEALTHCARE, INC. CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
| Year Ended December 31, 2017
| Parent Guarantor |  | Other Guarantors |  | Non-Guarantors |  | Eliminations |  | Consolidated
| (In millions)
Operating activities: |  |  |  |  |  |  |  |  |
Net cash provided by operating activities | $ | 166 |  |  | 83 |  |  | 555 |  |  | — |  |  | $ | 804 |
Investing activities: |  |  |  |  |  |  |  |  |
Purchases of investments | (352 | ) |  | — |  |  | (2,366 | ) |  | — |  |  | (2,718 | )
Proceeds from sales and maturities of investments | 168 |  |  | — |  |  | 1,603 |  |  | — |  |  | 1,771 |
Purchases of property, equipment and capitalized software | (67 | ) |  | (11 | ) |  | (8 | ) |  | — |  |  | (86 | )
Increase in restricted investments | — |  |  | — |  |  | (12 | ) |  | — |  |  | (12 | )
Capital contributions to subsidiaries | (370 | ) |  | 2 |  |  | 368 |  |  | — |  |  | — |
Dividends received from subsidiaries | 286 |  |  | (25 | ) |  | (261 | ) |  | — |  |  | — |
Change in amounts due to/from affiliates | (49 | ) |  | 1 |  |  | 48 |  |  | — |  |  | — |
Other, net | — |  |  | (28 | ) |  | — |  |  | — |  |  | (28 | )
Net cash used in by investing activities | (384 | ) |  | (61 | ) |  | (628 | ) |  | — |  |  | (1,073 | )
Financing activities: |  |  |  |  |  |  |  |  |
Proceeds from senior notes offering, net of issuance costs | 325 |  |  | — |  |  | — |  |  | — |  |  | 325 |
Proceeds from borrowings under credit facility | 300 |  |  | — |  |  | — |  |  | — |  |  | 300 |
Proceeds from employee stock plans | 19 |  |  | — |  |  | — |  |  | — |  |  | 19 |
Cash paid for financing transaction fees | (7 | ) |  | — |  |  | — |  |  | — |  |  | (7 | )
Other, net | (1 | ) |  | — |  |  | — |  |  | — |  |  | (1 | )
Net cash provided by financing activities | 636 |  |  | — |  |  | — |  |  | — |  |  | 636 |
Net increase (decrease) in cash and cash equivalents | 418 |  |  | 22 |  |  | (73 | ) |  | — |  |  | 367 |
Cash and cash equivalents at beginning of period | 86 |  |  | 6 |  |  | 2,727 |  |  | — |  |  | 2,819 |
Cash and cash equivalents at end of period | $ | 504 |  |  | $ | 28 |  |  | $ | 2,654 |  |  | $ | — |  |  | $ | 3,186 |
| Year Ended December 31, 2016
| Parent Guarantor |  | Other Guarantors |  | Non-Guarantors |  | Eliminations |  | Consolidated
| (In millions)
Operating activities: |  |  |  |  |  |  |  |  |
Net cash provided by operating activities | $ | 55 |  |  | 48 |  |  | 570 |  |  | — |  |  | $ | 673 |
Investing activities: |  |  |  |  |  |  |  |  |
Purchases of investments | (115 | ) |  | — |  |  | (1,814 | ) |  | — |  |  | (1,929 | )
Proceeds from sales and maturities of investments | 188 |  |  | — |  |  | 1,778 |  |  | — |  |  | 1,966 |
Purchases of property, equipment and capitalized software | (125 | ) |  | (29 | ) |  | (22 | ) |  | — |  |  | (176 | )
Decrease in restricted investments | — |  |  | — |  |  | 4 |  |  | — |  |  | 4 |
Net cash paid in business combinations | — |  |  | (5 | ) |  | (43 | ) |  | — |  |  | (48 | )
Capital contributions to subsidiaries | (386 | ) |  | 7 |  |  | 379 |  |  | — |  |  | — |
Dividends received from subsidiaries | 101 |  |  | — |  |  | (101 | ) |  | — |  |  | — |
Change in amounts due to/from affiliates | (18 | ) |  | (2 | ) |  | 20 |  |  | — |  |  | — |
Other, net | 6 |  |  | (26 | ) |  | 1 |  |  | — |  |  | (19 | )
Net cash (used in) provided by investing activities | (349 | ) |  | (55 | ) |  | 202 |  |  | — |  |  | (202 | )
Financing activities: |  |  |  |  |  |  |  |  |
Proceeds from employee stock plans | 18 |  |  | — |  |  | — |  |  | — |  |  | 18 |
Other, net | 2 |  |  | — |  |  | (1 | ) |  | — |  |  | 1 |
Net cash provided by financing activities | 20 |  |  | — |  |  | (1 | ) |  | — |  |  | 19 |
Net (decrease) increase in cash and cash equivalents | (274 | ) |  | (7 | ) |  | 771 |  |  | — |  |  | 490 |
Cash and cash equivalents at beginning of period | 360 |  |  | 13 |  |  | 1,956 |  |  | — |  |  | 2,329 |
Cash and cash equivalents at end of period | $ | 86 |  |  | $ | 6 |  |  | $ | 2,727 |  |  | $ | — |  |  | $ | 2,819 |
| Year Ended December 31, 2015
| Parent Guarantor |  | Other Guarantors |  | Non-Guarantors |  | Eliminations |  | Consolidated
| (In millions)
Operating activities: |  |  |  |  |  |  |  |  |
Net cash provided by operating activities | $ | 113 |  |  | 51 |  |  | 961 |  |  | — |  |  | $ | 1,125 |
Investing activities: |  |  |  |  |  |  |  |  |
Purchases of investments | (244 | ) |  | — |  |  | (1,679 | ) |  | — |  |  | (1,923 | )
Proceeds from sales and maturities of investments | 118 |  |  | — |  |  | 1,008 |  |  | — |  |  | 1,126 |
Purchases of property, equipment and capitalized software | (91 | ) |  | (20 | ) |  | (21 | ) |  | — |  |  | (132 | )
Decrease in restricted investments | — |  |  | 5 |  |  | (11 | ) |  | — |  |  | (6 | )
Net cash paid in business combinations | — |  |  | (174 | ) |  | (276 | ) |  | — |  |  | (450 | )
Capital contributions to subsidiaries | (770 | ) |  | 236 |  |  | 534 |  |  | — |  |  | — |
Dividends received from subsidiaries | 142 |  |  | — |  |  | (142 | ) |  | — |  |  | — |
Change in amounts due to/from affiliates | (68 | ) |  | (63 | ) |  | 131 |  |  | — |  |  | — |
Other, net | — |  |  | (35 | ) |  | — |  |  | — |  |  | (35 | )
Net cash used in investing activities | (913 | ) |  | (51 | ) |  | (456 | ) |  | — |  |  | (1,420 | )
Financing activities: |  |  |  |  |  |  |  |  |
Proceeds from senior notes offerings, net of issuance costs | 689 |  |  | — |  |  | — |  |  | — |  |  | 689 |
Proceeds from common stock offering, net of issuance costs | 373 |  |  | — |  |  | — |  |  | — |  |  | 373 |
Proceeds from employee stock plans | 18 |  |  | — |  |  | — |  |  | — |  |  | 18 |
Other, net | 5 |  |  | — |  |  | — |  |  | — |  |  | 5 |
Net cash provided by financing activities | 1,085 |  |  | — |  |  | — |  |  | — |  |  | 1,085 |
Net increase in cash and cash equivalents | 285 |  |  | — |  |  | 505 |  |  | — |  |  | 790 |
Cash and cash equivalents at beginning of period | 75 |  |  | 13 |  |  | 1,451 |  |  | — |  |  | 1,539 |
Cash and cash equivalents at end of period | $ | 360 |  |  | $ | 13 |  |  | $ | 1,956 |  |  | $ | — |  |  | $ | 2,329 |

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