Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
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- Balance Sheet: Liabilities and Stockholders’ Equity
- Cash Flow Statement
- Common-Size Income Statement
- Analysis of Profitability Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Price to FCFE (P/FCFE)
- Capital Asset Pricing Model (CAPM)
- Selected Financial Data since 2005
- Operating Profit Margin since 2005
- Analysis of Revenues
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UnitedHealth Group Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity
Based on: 10-K (reporting date: 2024-12-31), 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).
- Medical costs payable
- The proportion of medical costs payable to total liabilities, redeemable noncontrolling interests, and equity showed a gradual increase from 11.09% in 2020 to a peak of 11.84% in 2023, followed by a slight decrease to 11.47% in 2024. This indicates a relatively stable but slightly upward trend in obligations related to medical costs over the period.
- Accounts payable and accrued liabilities
- This category remained relatively stable, fluctuating slightly around 11.4% to 11.68% between 2020 and 2023 and finishing at 11.51% in 2024. The data suggest consistent management of accounts payable and accrued liabilities relative to the company’s total claims.
- Short-term borrowings and current maturities of long-term debt
- There was a noticeable decline in this component, from 2.44% in 2020 down to 1.27% in 2022, with a modest increase to 1.56% in 2023 before settling at 1.52% in 2024. The trend points to an overall reduction in short-term debt obligations, signaling potential improvements in liquidity or debt structure.
- Unearned revenues
- This item showed a slight downward trend from 1.44% in 2020 to 1.11% in 2024, with minor fluctuations in between. This could imply a moderate decrease in the proportion of revenue received but not yet earned.
- Other current liabilities
- Other current liabilities decreased steadily from 10.34% in 2020 to 9.17% in 2024. This decline indicates improved control or reduction of miscellaneous short-term obligations.
- Current liabilities
- The total current liabilities as a percentage of total claims remained fairly stable around 36%, with a slight decline from 36.71% in 2020 to 34.79% in 2024, suggesting a minor reduction in short-term liabilities relative to the overall capital structure.
- Long-term debt, less current maturities
- This category increased from 19.59% in 2020 to 24.26% in 2024, reflecting a growing reliance on long-term borrowing. The peak in 2024 may indicate strategic long-term financing or capital investment activities.
- Deferred income taxes
- Deferred income taxes declined from 1.71% in 2020 to a low of 1.10% in 2023, before slightly rebounding to 1.21% in 2024. The fluctuations were modest and do not indicate significant changes in tax deferrals relative to total claims.
- Other liabilities
- Other liabilities steadily decreased from 6.24% in 2020 to 5.23% in 2022, then remained relatively constant near 5.3% through 2024, suggesting stabilization in miscellaneous long-term obligations.
- Noncurrent liabilities
- The share of noncurrent liabilities increased overall from 27.54% in 2020 to 30.82% in 2024, with some variation in intermediate years. This is consistent with the rise in long-term debt, indicating a shift toward greater long-term obligations.
- Total liabilities
- Total liabilities as a percentage of total claims fluctuated slightly between 63.86% and 65.61%, ending on an upward note at 65.61% in 2024. The stability indicates a broadly consistent leverage level over time with a slight increase in the latest period.
- Redeemable noncontrolling interests
- Redeemable noncontrolling interests exhibited variability, starting at 1.12% in 2020, dropping to 0.68% in 2021, rising sharply to 1.99% in 2022, and then declining to 1.45% in 2024. This suggests some irregular transactions or changes involving redeemable interests during the period.
- Common stock
- The percentage attributable to common stock was minimal or zero from 2021 onward, maintaining negligible impact on the overall capital structure.
- Retained earnings
- Retained earnings as a percentage of total claims increased from 35.12% in 2020 to 36.35% in 2021 before declining steadily to 32.20% in 2024. This downward trend in recent years may reflect increased distributions or lower earnings retention.
- Accumulated other comprehensive loss
- The accumulated other comprehensive loss deepened from -1.93% in 2020 to -3.42% in 2022 but improved significantly to -1.14% by 2024, suggesting recovery in other comprehensive income components such as foreign currency translation or pension adjustments.
- Shareholders’ equity attributable to UnitedHealth Group
- The equity portion attributable to the company declined from 33.20% in 2020 to 31.06% in 2024, with a trough at 31.65% in 2022 and partial recovery thereafter. This indicates a mild contraction in shareholders’ equity relative to total capital.
- Nonredeemable noncontrolling interests
- These interests remained generally stable, ranging between 1.44% and 2.07%, with a peak in 2023 before decreasing slightly in 2024, suggesting limited impact on overall equity composition.
- Total equity
- Total equity showed a decline from 34.63% in 2020 to 32.95% in 2024, experiencing a low point of 33.15% in 2022 and a modest rebound in 2023. The overall decrease points to slight erosion of equity relative to total financial claims.
- Total liabilities, redeemable noncontrolling interests and equity
- This sum consistently equals 100% in all periods, confirming that the proportions are correctly scaled and collectively exhaustive.