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Business Combinations (Tables) | 3 Months Ended
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Mar. 31, 2024
Business Combination and Asset Acquisition [Abstract] |
Schedule of Business Acquisitions, by Acquisition | The acquisition-date fair value of the consideration transferred consisted of the following, in millions:
Fair value of consideration transferred: |
Cash | $ | 341 |
Contingent consideration | 86 |
Total | $ | 427 |
Schedule of The Provisional Fair Values Assigned To Assets Acquired and Liabilities Assumed | The following table summarizes the provisional fair values assigned to assets acquired and liabilities assumed, in millions.
Assets acquired: |
Current assets | $ | 315 |
Goodwill | 357 |
Intangible assets | 141 |
Other long-term assets | 45 |
Liabilities assumed: |
Medical claims and benefits payable | (391) |
Amounts due government agencies | (24) |
Accounts payable, accrued and other long-term liabilities | (16) |
Fair value of net assets acquired | $ | 427 |
Schedule of Intangible Assets | The table below presents intangible assets acquired, by major class, for the Bright Health Medicare acquisition. The weighted-average amortization period, in the aggregate, is 11.1 years.
| Fair Value |  | Life
| (In millions) |  | (Years)
Contract rights - member list | $ | 104 |  |  | 10
Trade name | 32 |  |  | 15
Provider network | 5 |  |  | 10
| $ | 141 |  |  |

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- Definition Tabular disclosure of the characteristics, including initial carrying value, residual amount, weighted average useful life, of finite-lived intangible assets acquired during the period by major class. A major class is composed of intangible assets that can be grouped together because they are similar, either by nature or by their use in the operations of the company. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482665/350-30-50-1 + Details
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- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479328/805-10-50-3 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479328/805-10-50-2 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479907/805-20-50-1 + Details
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