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Supplemental Condensed Consolidating Financial Information (Tables) | 3 Months Ended
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Mar. 31, 2018
Condensed Financial Information [Abstract] |
Condensed Consolidating Statements of Income | CONDENSED CONSOLIDATING STATEMENTS OF INCOME
| Three Months Ended March 31, 2017
| Parent Guarantor |  | Other Guarantors |  | Non-Guarantors |  | Eliminations |  | Consolidated
| (In millions)
Revenue: |  |  |  |  |  |  |  |  |
Total revenue | $ | 341 |  |  | $ | 48 |  |  | $ | 4,857 |  |  | $ | (342 | ) |  | $ | 4,904 |
Expenses: |  |  |  |  |  |  |  |  |
Medical care costs | 4 |  |  | — |  |  | 4,107 |  |  | — |  |  | 4,111 |
Cost of service revenue | — |  |  | 42 |  |  | 80 |  |  | — |  |  | 122 |
General and administrative expenses | 297 |  |  | 7 |  |  | 477 |  |  | (342 | ) |  | 439 |
Premium tax expenses | — |  |  | — |  |  | 111 |  |  | — |  |  | 111 |
Depreciation and amortization | 27 |  |  | — |  |  | 12 |  |  | — |  |  | 39 |
Total operating expenses | 328 |  |  | 49 |  |  | 4,787 |  |  | (342 | ) |  | 4,822 |
Operating income (loss) | 13 |  |  | (1 | ) |  | 70 |  |  | — |  |  | 82 |
Interest expense | 26 |  |  | — |  |  | — |  |  | — |  |  | 26 |
Other income, net | (75 | ) |  | — |  |  | — |  |  | — |  |  | (75 | )
Income (loss) before income taxes | 62 |  |  | (1 | ) |  | 70 |  |  | — |  |  | 131 |
Income tax expense | 31 |  |  | — |  |  | 23 |  |  | — |  |  | 54 |
Net income (losses) before equity in earnings (losses) of subsidiaries | 31 |  |  | (1 | ) |  | 47 |  |  | — |  |  | 77 |
Equity in net earnings (losses) of subsidiaries | 46 |  |  | (2 | ) |  | — |  |  | (44 | ) |  | — |
Net income (loss) | $ | 77 |  |  | $ | (3 | ) |  | $ | 47 |  |  | $ | (44 | ) |  | $ | 77 |
CONDENSED CONSOLIDATING STATEMENTS OF INCOME
| Three Months Ended March 31, 2018
| Parent Guarantor |  | Other Guarantors |  | Non-Guarantors |  | Eliminations |  | Consolidated
| (In millions)
Revenue: |  |  |  |  |  |  |  |  |
Total revenue | $ | 333 |  |  | $ | 52 |  |  | $ | 4,592 |  |  | $ | (331 | ) |  | $ | 4,646 |
Expenses: |  |  |  |  |  |  |  |  |
Medical care costs | 4 |  |  | — |  |  | 3,718 |  |  | — |  |  | 3,722 |
Cost of service revenue | — |  |  | 43 |  |  | 77 |  |  | — |  |  | 120 |
General and administrative expenses | 267 |  |  | 4 |  |  | 412 |  |  | (331 | ) |  | 352 |
Premium tax expenses | — |  |  | — |  |  | 104 |  |  | — |  |  | 104 |
Health insurer fees | — |  |  | — |  |  | 75 |  |  | — |  |  | 75 |
Depreciation and amortization | 18 |  |  | — |  |  | 8 |  |  | — |  |  | 26 |
Restructuring and separation costs | 26 |  |  | — |  |  | (1 | ) |  | — |  |  | 25 |
Total operating expenses | 315 |  |  | 47 |  |  | 4,393 |  |  | (331 | ) |  | 4,424 |
Operating income | 18 |  |  | 5 |  |  | 199 |  |  | — |  |  | 222 |
Interest expense | 33 |  |  | — |  |  | — |  |  | — |  |  | 33 |
Other expenses, net | 10 |  |  | — |  |  | — |  |  | — |  |  | 10 |
(Loss) income before income taxes | (25 | ) |  | 5 |  |  | 199 |  |  | — |  |  | 179 |
Income tax expense | 9 |  |  | 1 |  |  | 62 |  |  | — |  |  | 72 |
Net (loss) income before equity in net losses of subsidiaries | (34 | ) |  | 4 |  |  | 137 |  |  | — |  |  | 107 |
Equity in net earnings (losses) of subsidiaries | 141 |  |  | (3 | ) |  | — |  |  | (138 | ) |  | — |
Net income | $ | 107 |  |  | $ | 1 |  |  | $ | 137 |  |  | $ | (138 | ) |  | $ | 107 |
Condensed Consolidating Statements of Comprehensive Income | CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME
| Three Months Ended March 31, 2017
| Parent Guarantor |  | Other Guarantors |  | Non-Guarantors |  | Eliminations |  | Consolidated
| (In millions)
Net income (loss) | $ | 77 |  |  | $ | (3 | ) |  | $ | 47 |  |  | $ | (44 | ) |  | $ | 77 |
Other comprehensive income, net of tax | 1 |  |  | — |  |  | 1 |  |  | (1 | ) |  | 1 |
Comprehensive income (loss) | $ | 78 |  |  | $ | (3 | ) |  | $ | 48 |  |  | $ | (45 | ) |  | $ | 78 |
CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME
| Three Months Ended March 31, 2018
| Parent Guarantor |  | Other Guarantors |  | Non-Guarantors |  | Eliminations |  | Consolidated
| (In millions)
Net income | $ | 107 |  |  | $ | 1 |  |  | $ | 137 |  |  | $ | (138 | ) |  | $ | 107 |
Other comprehensive loss, net of tax | (7 | ) |  | — |  |  | (7 | ) |  | 7 |  |  | (7 | )
Comprehensive income | $ | 100 |  |  | $ | 1 |  |  | $ | 130 |  |  | $ | (131 | ) |  | $ | 100 |
Condensed Consolidating Balance Sheets | CONDENSED CONSOLIDATING BALANCE SHEETS
| March 31, 2018
| Parent Guarantor |  | Other Guarantors |  | Non-Guarantors |  | Eliminations |  | Consolidated
| (In millions)
ASSETS
Current assets: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 307 |  |  | $ | 27 |  |  | $ | 3,395 |  |  | $ | — |  |  | $ | 3,729 |
Investments | 399 |  |  | — |  |  | 2,045 |  |  | — |  |  | 2,444 |
Restricted investments | 77 |  |  | — |  |  | — |  |  | — |  |  | 77 |
Receivables | 2 |  |  | 41 |  |  | 907 |  |  | — |  |  | 950 |
Due from (to) affiliates | 147 |  |  | (5 | ) |  | (142 | ) |  | — |  |  | — |
Prepaid expenses and other current assets | 60 |  |  | 8 |  |  | 343 |  |  | — |  |  | 411 |
Derivative asset | 585 |  |  | — |  |  | — |  |  | — |  |  | 585 |
Total current assets | 1,577 |  |  | 71 |  |  | 6,548 |  |  | — |  |  | 8,196 |
Property, equipment, and capitalized software, net | 206 |  |  | 30 |  |  | 82 |  |  | — |  |  | 318 |
Goodwill and intangible assets, net | 15 |  |  | 43 |  |  | 192 |  |  | — |  |  | 250 |
Restricted investments | — |  |  | — |  |  | 120 |  |  | — |  |  | 120 |
Investment in subsidiaries, net | 2,531 |  |  | 79 |  |  | — |  |  | (2,610 | ) |  | — |
Deferred income taxes | 28 |  |  | — |  |  | 104 |  |  | (18 | ) |  | 114 |
Other assets | 41 |  |  | 105 |  |  | 5 |  |  | (16 | ) |  | 135 |
| $ | 4,398 |  |  | $ | 328 |  |  | $ | 7,051 |  |  | $ | (2,644 | ) |  | $ | 9,133 |
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities: |  |  |  |  |  |  |  |  |
Medical claims and benefits payable | $ | 3 |  |  | $ | — |  |  | $ | 2,020 |  |  | $ | — |  |  | $ | 2,023 |
Amounts due government agencies | — |  |  | 1 |  |  | 1,713 |  |  | — |  |  | 1,714 |
Accounts payable and accrued liabilities | 151 |  |  | 40 |  |  | 522 |  |  | — |  |  | 713 |
Deferred revenue | — |  |  | 41 |  |  | 363 |  |  | — |  |  | 404 |
Current portion of long-term debt | 566 |  |  | — |  |  | — |  |  | — |  |  | 566 |
Derivative liability | 585 |  |  | — |  |  | — |  |  | — |  |  | 585 |
Total current liabilities | 1,305 |  |  | 82 |  |  | 4,618 |  |  | — |  |  | 6,005 |
Long-term debt | 1,516 |  |  | — |  |  | 16 |  |  | (16 | ) |  | 1,516 |
Deferred income taxes | — |  |  | 18 |  |  | — |  |  | (18 | ) |  | — |
Other long-term liabilities | 24 |  |  | 1 |  |  | 34 |  |  | — |  |  | 59 |
Total liabilities | 2,845 |  |  | 101 |  |  | 4,668 |  |  | (34 | ) |  | 7,580 |
Total stockholders’ equity | 1,553 |  |  | 227 |  |  | 2,383 |  |  | (2,610 | ) |  | 1,553 |
| $ | 4,398 |  |  | $ | 328 |  |  | $ | 7,051 |  |  | $ | (2,644 | ) |  | $ | 9,133 |
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 |
Due from (to) affiliates | 148 |  |  | (6 | ) |  | (142 | ) |  | — |  |  | — |
Prepaid expenses and other current assets | 103 |  |  | 14 |  |  | 138 |  |  | (16 | ) |  | 239 |
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 |
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 |  |  | 103 |  |  | 7 |  |  | (1 | ) |  | 141 |
| $ | 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 |
Condensed Consolidating Statements of Cash Flows | CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
| Three Months Ended March 31, 2018
| Parent Guarantor |  | Other Guarantors |  | Non-Guarantors |  | Eliminations |  | Consolidated
| (In millions)
Operating activities: |  |  |  |  |  |  |  |  |
Net cash provided by operating activities | $ | 6 |  |  | $ | 9 |  |  | $ | 379 |  |  | $ | — |  |  | $ | 394 |
Investing activities: |  |  |  |  |  |  |  |  |
Purchases of investments | (130 | ) |  | — |  |  | (259 | ) |  | — |  |  | (389 | )
Proceeds from sales and maturities of investments | 5 |  |  | — |  |  | 538 |  |  | — |  |  | 543 |
Purchases of property, equipment and capitalized software | (1 | ) |  | (2 | ) |  | (1 | ) |  | — |  |  | (4 | )
Capital contributions to subsidiaries | (80 | ) |  | — |  |  | 80 |  |  | — |  |  | — |
Change in amounts due to/from affiliates | (3 | ) |  | (2 | ) |  | 5 |  |  | — |  |  | — |
Other, net | 2 |  |  | (6 | ) |  | (1 | ) |  | — |  |  | (5 | )
Net cash (used in) provided by investing activities | (207 | ) |  | (10 | ) |  | 362 |  |  | — |  |  | 145 |
Financing activities: |  |  |  |  |  |  |  |  |
Cash paid for financing transaction fees | (5 | ) |  | — |  |  | — |  |  | — |  |  | (5 | )
Net cash used in financing activities | (5 | ) |  | — |  |  | — |  |  | — |  |  | (5 | )
Net (decrease) increase in cash, cash equivalents, and restricted cash and cash equivalents | (206 | ) |  | (1 | ) |  | 741 |  |  | — |  |  | 534 |
Cash, cash equivalents, and restricted cash and cash equivalents at beginning of period | 513 |  |  | 28 |  |  | 2,749 |  |  | — |  |  | 3,290 |
Cash, cash equivalents, and restricted cash and cash equivalents at end of period | $ | 307 |  |  | $ | 27 |  |  | $ | 3,490 |  |  | $ | — |  |  | $ | 3,824 |
| Three Months Ended March 31, 2017
| Parent Guarantor |  | Other Guarantors |  | Non-Guarantors |  | Eliminations |  | Consolidated
| (In millions)
Operating activities: |  |  |  |  |  |  |  |  |
Net cash provided by operating activities | $ | 144 |  |  | $ | 21 |  |  | $ | 554 |  |  | $ | — |  |  | $ | 719 |
Investing activities: |  |  |  |  |  |  |  |  |
Purchases of investments | — |  |  | — |  |  | (733 | ) |  | — |  |  | (733 | )
Proceeds from sales and maturities of investments | 92 |  |  | — |  |  | 341 |  |  | — |  |  | 433 |
Purchases of property, equipment and capitalized software | (18 | ) |  | (5 | ) |  | (3 | ) |  | — |  |  | (26 | )
Decrease in restricted investments held-to-maturity | — |  |  | — |  |  | (5 | ) |  | — |  |  | (5 | )
Capital contributions to subsidiaries | (106 | ) |  | 1 |  |  | 105 |  |  | — |  |  | — |
Dividends from subsidiaries | 50 |  |  | — |  |  | (50 | ) |  | — |  |  | — |
Change in amounts due to/from affiliates | (60 | ) |  | 2 |  |  | 58 |  |  | — |  |  | — |
Other, net | — |  |  | (6 | ) |  | — |  |  | — |  |  | (6 | )
Net cash used in investing activities | (42 | ) |  | (8 | ) |  | (287 | ) |  | — |  |  | (337 | )
Financing activities: |  |  |  |  |  |  |  |  |
Proceeds from employee stock plans | 1 |  |  | — |  |  | — |  |  | — |  |  | 1 |
Other, net | (2 | ) |  | — |  |  | — |  |  | — |  |  | (2 | )
Net cash used in financing activities | (1 | ) |  | — |  |  | — |  |  | — |  |  | (1 | )
Net increase in cash, cash equivalents, and restricted cash and cash equivalents | 101 |  |  | 13 |  |  | 267 |  |  | — |  |  | 381 |
Cash, cash equivalents, and restricted cash and cash equivalents at beginning of period | 86 |  |  | 6 |  |  | 2,820 |  |  | — |  |  | 2,912 |
Cash, cash equivalents, and restricted cash and cash equivalents at end of period | $ | 187 |  |  | $ | 19 |  |  | $ | 3,087 |  |  | $ | — |  |  | $ | 3,293 |

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