Balance Sheet: Assets
Quarterly Data

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

UnitedHealth Group Inc., consolidated balance sheet: assets (quarterly data)

US$ in millions

	Dec 31, 2025	Sep 30, 2025	Jun 30, 2025	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
Cash and cash equivalents	24,365)	27,210)	28,596)	30,717)	25,312)	32,400)	26,286)	28,414)	25,427)	38,915)	41,813)	41,913)	23,365)	38,845)	24,612)	25,482)	21,375)	21,085)	19,832)	19,955)
Short-term investments	3,756)	3,404)	3,424)	3,574)	3,801)	4,734)	5,037)	4,296)	4,201)	5,182)	4,466)	4,584)	4,546)	3,682)	3,352)	2,914)	2,532)	2,786)	2,729)	2,962)
Accounts receivable, net	23,018)	22,672)	24,142)	26,936)	22,365)	20,024)	23,115)	27,197)	21,276)	20,673)	17,952)	22,414)	17,681)	17,047)	18,718)	18,871)	14,216)	14,152)	14,587)	15,980)
Other current receivables, net	29,697)	32,762)	28,582)	26,022)	26,089)	27,461)	26,762)	19,284)	17,694)	17,752)	16,131)	14,696)	12,769)	13,684)	12,439)	11,994)	13,866)	14,080)	12,630)	11,546)
Assets under management	—)	—)	—)	—)	—)	—)	3,414)	3,619)	3,755)	3,616)	3,623)	3,837)	4,087)	4,022)	4,017)	4,155)	4,449)	4,304)	4,198)	4,094)
Prepaid expenses and other current assets	9,746)	9,019)	8,955)	9,036)	8,212)	7,639)	7,424)	6,132)	6,084)	5,767)	5,884)	6,451)	6,621)	5,657)	5,218)	5,613)	5,320)	5,203)	4,940)	4,971)
Current assets	90,582)	95,067)	93,699)	96,285)	85,779)	92,258)	92,038)	88,942)	78,437)	91,905)	89,869)	93,895)	69,069)	82,937)	68,356)	69,029)	61,758)	61,610)	58,916)	59,508)
Long-term investments	54,251)	52,996)	52,466)	51,863)	52,354)	48,689)	46,113)	45,928)	47,609)	45,474)	45,988)	46,884)	43,728)	41,557)	42,427)	42,353)	43,114)	44,777)	44,061)	42,406)
Property, equipment and capitalized software, net	10,762)	11,104)	10,923)	10,734)	10,553)	10,139)	9,801)	10,429)	11,450)	11,070)	10,926)	10,637)	10,128)	9,469)	9,421)	9,183)	8,969)	8,730)	8,735)	8,496)
Goodwill	110,499)	110,340)	107,677)	107,566)	106,734)	105,978)	105,436)	105,664)	103,732)	101,703)	101,669)	100,406)	93,352)	83,904)	84,159)	77,548)	75,795)	75,435)	75,827)	72,162)
Other intangible assets, net	20,474)	22,785)	22,510)	22,947)	23,268)	23,594)	14,729)	15,543)	15,194)	15,200)	15,643)	16,165)	14,401)	10,785)	11,285)	9,918)	10,044)	10,436)	10,806)	10,842)
Other assets	23,013)	22,977)	21,298)	20,395)	19,590)	18,651)	17,939)	17,704)	17,298)	16,711)	16,069)	15,692)	15,027)	14,412)	14,524)	13,207)	12,526)	12,057)	11,947)	11,757)
Noncurrent assets	218,999)	220,202)	214,874)	213,505)	212,499)	207,051)	194,018)	195,268)	195,283)	190,158)	190,295)	189,784)	176,636)	160,127)	161,816)	152,209)	150,448)	151,435)	151,376)	145,663)
Total assets	309,581)	315,269)	308,573)	309,790)	298,278)	299,309)	286,056)	284,210)	273,720)	282,063)	280,164)	283,679)	245,705)	243,064)	230,172)	221,238)	212,206)	213,045)	210,292)	205,171)

Overall, the company’s total assets exhibited a general upward trend throughout the observed period, although with some quarterly fluctuations. Significant growth occurred between late 2021 and early 2025, followed by a slight stabilization. A detailed examination of individual asset categories reveals varying patterns.

Cash and Cash Equivalents: Cash and cash equivalents demonstrated considerable volatility. A peak was observed in September 2022, followed by a decline, and then another increase in early 2023. Subsequently, levels decreased again, stabilizing in the range of $25 billion to $33 billion through the end of the period. This suggests active cash management and potentially strategic deployment of funds.
Short-Term Investments: Short-term investments showed a relatively stable pattern, generally fluctuating between $2.5 billion and $5.2 billion. A noticeable increase occurred between March 2022 and June 2023, followed by a slight decrease towards the end of the period. This indicates a consistent, though not dramatically changing, allocation to short-term liquid assets.
Accounts Receivable, Net: Accounts receivable experienced a consistent upward trend, particularly pronounced from late 2021 through early 2024. Levels rose from approximately $14 billion to over $27 billion. A slight decrease was observed in the latter part of 2024 and into 2025, but remained elevated compared to earlier periods. This growth may reflect increased revenue or changes in payment terms.
Other Current Receivables, Net: Other current receivables exhibited a strong and consistent upward trend throughout the entire period, increasing from approximately $11.5 billion to over $32.7 billion. This represents a substantial increase and warrants further investigation to understand the underlying drivers. The growth rate appears to accelerate in the later quarters.
Assets Under Management: Assets under management remained relatively stable, fluctuating within a narrow range of $3.6 billion to $4.4 billion. A slight downward trend is observable towards the end of the period, but the changes are minimal.
Prepaid Expenses and Other Current Assets: Prepaid expenses and other current assets demonstrated a consistent upward trend, increasing from approximately $5 billion to nearly $10 billion. This suggests increasing investments in future-period benefits or a change in the timing of expense recognition.
Current Assets (Total): Total current assets mirrored the trends observed in its components, showing an overall increase from approximately $59 billion to over $95 billion, with fluctuations throughout the period. The significant increase in accounts and other receivables heavily influenced this trend.
Long-Term Investments: Long-term investments remained relatively stable in the earlier part of the period, fluctuating around $42-44 billion. A noticeable increase occurred between June 2022 and December 2025, reaching over $54 billion. This suggests a strategic shift towards longer-term investment horizons.
Property, Equipment and Capitalized Software, Net: Property, equipment, and capitalized software showed modest growth, increasing from approximately $8.5 billion to $11.1 billion. Fluctuations were minimal, indicating a steady, but not rapid, investment in fixed assets.
Goodwill: Goodwill experienced substantial growth, increasing from approximately $72 billion to over $110 billion. This increase likely reflects acquisitions or changes in the valuation of existing goodwill. The growth rate accelerated significantly between 2022 and 2025.
Other Intangible Assets, Net: Other intangible assets also increased, though less dramatically than goodwill, rising from approximately $10 billion to $20.5 billion. A significant jump occurred between September 2022 and December 2024, suggesting potential acquisitions or internal development of intangible assets.
Other Assets: Other assets exhibited a consistent upward trend, increasing from approximately $11.8 billion to over $23 billion. This suggests a growing allocation to assets not categorized elsewhere on the balance sheet.
Noncurrent Assets (Total): Total noncurrent assets increased significantly, from approximately $145.7 billion to over $219 billion. The growth in goodwill and other intangible assets were major contributors to this increase.

Assets: Selected Items

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Current Assets: Selected Items

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UnitedHealth Group Inc. (NYSE:UNH)

Balance Sheet: Assets Quarterly Data

Assets: Selected Items

Current Assets: Selected Items

Balance Sheet: Assets
Quarterly Data