Stock Analysis on Net
Stock Analysis on Net

UnitedHealth Group Inc. (NYSE:UNH)

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Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

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UnitedHealth Group Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

Microsoft Excel
Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
Medical costs payable
Accounts payable and accrued liabilities
Short-term borrowings and current maturities of long-term debt
Unearned revenues
Other current liabilities
Current liabilities
Long-term debt, less current maturities
Deferred income taxes
Other liabilities
Noncurrent liabilities
Total liabilities
Redeemable noncontrolling interests
Preferred stock, $0.001 par value; no shares issued or outstanding
Common stock, $0.01 par value
Additional paid-in capital
Retained earnings
Accumulated other comprehensive loss
Shareholders’ equity attributable to UnitedHealth Group
Nonredeemable noncontrolling interests
Total equity
Total liabilities, redeemable noncontrolling interests and equity

Based on: 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).

Medical costs payable
The percentage of medical costs payable relative to total liabilities, redeemable noncontrolling interests, and equity fluctuates moderately between approximately 9.97% and 12.1% throughout the periods. It shows a slight downward trend from early 2023 to mid-2024, dipping as low as 11.21% in March 2023, before slightly increasing again towards the end of 2024.
Accounts payable and accrued liabilities
This category demonstrates variability but generally remains within the range of roughly 10.5% to 13.2%. It peaked in mid-2020 around 13.21% but decreased and stabilized near 10.8%-11.6% in subsequent periods, indicating some stabilization in obligations to suppliers and accrued liabilities.
Short-term borrowings and current maturities of long-term debt
The proportion occupied by these short-term financing components shows considerable volatility with unusually high values at March 2020 (8.37%) and recurring moderate spikes around 3.5% to 4.3%. However, most other quarters report values around 1.3% to 3.5%, highlighting fluctuating short-term debt management strategies.
Unearned revenues
Unearned revenues mostly hover near 1.1% to 1.4%; however, certain quarters in late 2021 and early 2023 exhibit sharp spikes reaching above 5%. These outliers suggest episodic recognition or deferral of revenues, which then revert to baseline levels in following quarters.
Other current liabilities
This item increases steadily from 7.75% in March 2020 to a peak of 11.75% in third quarter 2022, followed by a gradual decline to below 10% by late 2024. This pattern indicates rising other current obligations through 2022 with a subsequent reduction in the last observed periods.
Current liabilities
Current liabilities as a whole fluctuate between 33.93% and 41.58%. Peaks often correspond to the first quarter of fiscal years and the third quarter of 2022 at 41.53%, suggesting seasonal or cyclical operational factors affecting short-term obligations.
Long-term debt, less current maturities
Long-term debt proportions mostly vary between 18.2% and 24.8%. Noticeable increases occur from late 2023 through 2024, indicating an incremental accumulation or reclassification of longer-term liabilities toward the end of the period.
Deferred income taxes
The deferred income taxes component exhibits a slight decline from early periods (above 1.6%) to around 0.68% in late 2022, with some recovery thereafter but remaining below initial levels. This suggests fluctuations in tax deferrals possibly linked to temporary timing differences in income recognition.
Other liabilities
Other liabilities remain relatively stable, mostly ranging between 4.6% and 6.3% across the periods. Minor downward movement occurs post-2022 but the proportion remains fairly consistent.
Noncurrent liabilities
This category trends modestly upward from 25.05% in early 2022 to over 31.17% by late 2024, reflecting a gradual increase in longer-term financial obligations relative to total financing.
Total liabilities
Total liabilities show moderate variation in the mid-60% range, with values mostly between 63.86% and 68.05%. Peaks occur notably in Q1 2023 (68.05%), while troughs are seen in Q4 2020 and Q4 2023, indicating shifting balance between liabilities and equity financing.
Redeemable noncontrolling interests
This component is generally minor, under 2.2%, with sharp increases near mid-2022 reaching 2.14%. It then fluctuates downward gradually, suggesting limited but notable changes in the proportion of redeemable interests over time.
Common stock and Preferred stock
The proportion of common stock is negligible or zero after early 2020, and no preferred stock is issued throughout the periods analyzed, indicating capital structure concentrated in other forms of equity or financing.
Additional paid-in capital
Reported sporadically with low values around 0.13% to 0.2%, showing minimal impact on the overall capital structure during the periods with available data.
Retained earnings
Retained earnings maintain a significant share, generally around 31% to 36%, with notable decreases in early 2023 and again in early 2025. This reflects fluctuations in accumulated profits retained within the company affecting shareholders’ equity proportions.
Accumulated other comprehensive loss
The balance shows a negative value throughout, ranging between approximately -0.82% and -3.74%. The largest losses appear in late 2022 and mid-2022, with noticeable recovery towards early 2025, indicating volatile adjustments from items such as foreign currency translation or pension liabilities.
Shareholders’ equity attributable to the company
Equity attributable to the company ranges around 28.66% to 33.82%. It declines markedly in early 2023 before recovering to above 32% by late 2023, then stabilizing around 30% through the end of 2024, showing some variability potentially from retained earnings and comprehensive income changes.
Nonredeemable noncontrolling interests
These interests increase slightly from 1.4% to just over 2%, indicating modest growth in equity interests held by minority shareholders which are not redeemable over the time horizon.
Total equity
Total equity fluctuates between 30.25% and 35.66%, with declines noted in early 2023 and partial recoveries later, suggesting shifts in capital structure primarily influenced by retained earnings, comprehensive losses, and equity adjustments.
Total liabilities, redeemable noncontrolling interests, and equity
By definition, the sum remains consistent at 100% for all periods, validating the relative proportions analyzed across liabilities and equity components.