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Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2018

Accounting Policies [Abstract]

Restricted Cash and Cash Equivalents

The following table provides a reconciliation of cash, cash equivalents, and restricted cash and cash equivalents reported within the accompanying consolidated balance sheets that sum to the total of the same such amounts presented in the accompanying consolidated statements of cash flows. The restricted cash and cash equivalents presented below are included in non-current “Restricted investments” in the accompanying consolidated balance sheets.

	Six Months Ended June 30,
	2018				2017
	(In millions)
Cash and cash equivalents	$	3,392			$	2,979
Restricted cash and cash equivalents	98				92
Cash and cash equivalents reported in assets held for sale	9				—
Total cash, cash equivalents, and restricted cash and cash equivalents presented in the statements of cash flows	$	3,499			$	3,071

Schedule of Cash and Cash Equivalents

The following table provides a reconciliation of cash, cash equivalents, and restricted cash and cash equivalents reported within the accompanying consolidated balance sheets that sum to the total of the same such amounts presented in the accompanying consolidated statements of cash flows. The restricted cash and cash equivalents presented below are included in non-current “Restricted investments” in the accompanying consolidated balance sheets.

	Six Months Ended June 30,
	2018				2017
	(In millions)
Cash and cash equivalents	$	3,392			$	2,979
Restricted cash and cash equivalents	98				92
Cash and cash equivalents reported in assets held for sale	9				—
Total cash, cash equivalents, and restricted cash and cash equivalents presented in the statements of cash flows	$	3,499			$	3,071

Quality incentive premium revenue recognized

The following table quantifies the quality incentive premium revenue recognized for the periods presented, including the amounts earned in the periods presented and prior periods. Although the reasonably possible effects of a change in estimate related to quality incentive premium revenue as of June 30, 2018 are not known, we have no reason to believe that the adjustments to prior years noted below are not indicative of the potential future changes in our estimates as of June 30, 2018.

	Three Months Ended June 30,								Six Months Ended June 30,
	2018				2017				2018				2017
	(Dollars in millions)
Maximum available quality incentive premium - current period	$	47			$	39			$	87			$	77
Quality incentive premium revenue recognized in current period:
Earned current period	$	34			$	29			$	58			$	48
Earned prior periods	12				1				23				6
Total	$	46			$	30			$	81			54
Quality incentive premium revenue recognized as a percentage of total premium revenue	1.0		%		0.6		%		0.9		%		0.6		%

Segment reporting

The following table presents the opening and closing balances of receivables, deferred contract costs (contract assets), and deferred revenue (contract liabilities) from contracts with customers, by segment.

	June 30, 2018				December 31, 2017
	(In millions)
Receivables:
Molina Medicaid Solutions	$	34			$	30
Other	40				44
Deferred contract costs (contract assets) – Molina Medicaid Solutions	109				101
Deferred revenue (contract liabilities) – Molina Medicaid Solutions	39				49

The following table presents total revenue by segment. Inter-segment revenue was insignificant for all periods presented.

	Three Months Ended June 30,								Six Months Ended June 30,
	2018				2017				2018				2017
	(In millions)
Total revenue:
Health Plans	$	4,752			$	4,868			$	9,261			$	9,639
Molina Medicaid Solutions	48				47				99				93
Other	83				84				169				171
Consolidated	$	4,883			$	4,999			$	9,529			$	9,903

The following table reconciles gross margin by segment to consolidated income (loss) before income taxes:

	Three Months Ended June 30,								Six Months Ended June 30,
	2018				2017				2018				2017
	(In millions)
Gross margin:
Health Plans	$	664			$	249			$	1,265			$	786
Molina Medicaid Solutions	4				4				12				8
Other	5				1				11				6
Total gross margin	673				254				1,288				800
Add: other operating revenues (1)	242				130				431				255
Less: other operating expenses (2)	(573		)		(671		)		(1,155		)		(1,260		)
Operating income (loss)	342				(287		)		564				(205		)
Other expenses (income), net	37				27				80				(22		)
Income (loss) before income taxes	$	305			$	(314	)		$	484			$	(183	)

______________________

(1) Other operating revenues include premium tax revenue, health insurer fees reimbursed, and investment income and other revenue.

(2) Other operating expenses include general and administrative expenses, premium tax expenses, health insurer fees, depreciation and amortization, impairment losses, and restructuring and separation costs.

As of June 30, 2018, Molina Medicaid Solutions’ major classes of assets and liabilities were as follows:

	(In millions)
Cash and cash equivalents	$	9
Receivables and prepaid expenses	41
Goodwill and property, equipment, and capitalized software, net	70
Deferred contract costs and other assets	110
Total assets held for sale	$	230
Accounts payable and accrued and other liabilities	$	27
Deferred revenue	39
Total liabilities held for sale	$	66

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