Cash Flow Statement

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

Humana Inc., consolidated cash flow statement

US$ in millions

12 months ended:	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net income	2,484)	2,802)	2,934)	3,367)	2,707)
Gain on sale of Gentiva Hospice	—)	(237)	—)	—)	—)
(Gain) loss on investment securities, net	54)	205)	130)	(838)	(62)
Gain on Kindred at Home equity method investment	—)	—)	(1,129)	—)	—)
Equity in net (earnings) losses	63)	4)	(65)	(74)	(14)
Stock-based compensation	175)	216)	180)	181)	163)
Depreciation	850)	749)	640)	528)	505)
Amortization	67)	96)	73)	88)	70)
Impairment of property and equipment	206)	248)	—)	—)	—)
Impairment of intangible assets	55)	—)	—)	—)	—)
Deferred income taxes	(167)	(100)	15)	195)	162)
Receivables	(337)	(54)	(280)	(85)	(32)
Other assets	(1,318)	(463)	(491)	(581)	118)
Benefits payable	915)	975)	104)	2,139)	1,142)
Other liabilities	841)	44)	176)	599)	471)
Unearned revenues	(20)	32)	(65)	71)	(36)
Changes in operating assets and liabilities, net of effect of businesses acquired and dispositions	81)	534)	(556)	2,143)	1,663)
Other, net	113)	70)	40)	49)	90)
Adjustments to reconcile net income to net cash provided by operating activities	1,497)	1,785)	(672)	2,272)	2,577)
Net cash provided by operating activities	3,981)	4,587)	2,262)	5,639)	5,284)
Proceeds from sale of Gentiva Hospice, net	—)	2,701)	—)	—)	—)
Acquisitions, net of cash and cash equivalents acquired	(233)	(337)	(4,187)	(709)	—)
Purchases of property and equipment	(1,004)	(1,137)	(1,342)	(964)	(736)
Proceeds from sale of property and equipment	210)	17)	26)	—)	—)
Purchases of investment securities	(7,552)	(6,049)	(7,197)	(9,125)	(6,361)
Proceeds from maturities of investment securities	1,292)	1,365)	2,597)	4,986)	1,733)
Proceeds from sales of investment securities	3,795)	2,434)	3,547)	2,747)	4,086)
Net cash used in investing activities	(3,492)	(1,006)	(6,556)	(3,065)	(1,278)
Receipts (withdrawals) from contract deposits, net	828)	1,993)	(306)	(939)	(623)
Proceeds from issuance of senior notes, net	2,544)	1,982)	2,984)	1,088)	987)
Repayment of senior notes	(1,832)	(1,000)	—)	(400)	(400)
Proceeds from issuance (repayments) of commercial paper, net	211)	(376)	352)	295)	(360)
Proceeds from short-term borrowings	100)	—)	—)	—)	—)
Repayment of short-term borrowings	(100)	—)	—)	—)	—)
Proceeds from term loan	—)	—)	2,500)	1,000)	—)
Repayment of term loan	(500)	(2,000)	(2,078)	(1,000)	(650)
Debt issue costs	(7)	(6)	(31)	—)	—)
Common stock repurchases	(1,573)	(2,096)	(79)	(1,820)	(1,070)
Dividends paid	(431)	(392)	(354)	(323)	(291)
Change in book overdraft	55)	(28)	6)	95)	54)
Other, net	(151)	9)	21)	49)	58)
Net cash provided by (used in) financing activities	(856)	(1,914)	3,015)	(1,955)	(2,295)
Increase (decrease) in cash and cash equivalents	(367)	1,667)	(1,279)	619)	1,711)
Cash and cash equivalents at beginning of period	5,061)	3,394)	4,673)	4,054)	2,343)
Cash and cash equivalents at end of period	4,694)	5,061)	3,394)	4,673)	4,054)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

Download chart

Cash flow statement item	Description	The company
Net cash provided by operating activities	Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.	Humana Inc. net cash provided by operating activities increased from 2021 to 2022 but then slightly decreased from 2022 to 2023.
Net cash used in investing activities	Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.	Humana Inc. net cash used in investing activities increased from 2021 to 2022 but then slightly decreased from 2022 to 2023.
Net cash provided by (used in) financing activities	Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.	Humana Inc. net cash provided by (used in) financing activities decreased from 2021 to 2022 but then slightly increased from 2022 to 2023.

Humana Inc. (NYSE:HUM)

Cash Flow Statement