Stock Analysis on Net
Stock Analysis on Net
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UnitedHealth Group Inc. (NYSE:UNH)

Cash Flow Statement

Beginner level

The cash flow statement provides information about a company’s 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’s 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.

UnitedHealth Group Inc., consolidated cash flow statement

US$ in millions

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12 months ended: Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Net earnings 14,239  12,382  10,823  7,073  5,868 
Depreciation and amortization 2,720  2,428  2,245  2,055  1,693 
Deferred income taxes 230  42  (965) 81  (73)
Share-based compensation 697  638  597  485  406 
Other, net (106) (71) 217  (82) (235)
Noncash items 3,541  3,037  2,094  2,539  1,791 
Accounts receivable 162  (1,351) (1,062) (1,357) (591)
Other assets (1,563) (750) (630) (1,601) (1,430)
Medical costs payable 1,221  1,831  1,284  1,849  2,585 
Accounts payable and other liabilities 733  526  930  1,494  1,280 
Unearned revenues 130  38  157  (202) 237 
Net change in other operating items, net of effects from acquisitions and changes in AARP balances 683  294  679  183  2,081 
Cash flows from operating activities 18,463  15,713  13,596  9,795  9,740 
Purchases of investments (18,131) (14,010) (14,588) (17,547) (9,939)
Sales of investments 8,536  3,641  4,623  7,339  6,054 
Maturities of investments 7,091  6,270  5,646  4,281  3,354 
Cash paid for acquisitions, net of cash assumed (8,343) (5,997) (2,131) (1,760) (16,164)
Purchases of property, equipment and capitalized software (2,071) (2,063) (2,023) (1,705) (1,556)
Other, net 219  (226) (126) 37  (144)
Cash flows used for investing activities (12,699) (12,385) (8,599) (9,355) (18,395)
Common stock repurchases (5,500) (4,500) (1,500) (1,280) (1,200)
Cash dividends paid (3,932) (3,320) (2,773) (2,261) (1,786)
Proceeds from common stock issuances 1,037  838  688  429  402 
Repayments of long-term debt (1,750) (2,600) (4,398) (2,596) (1,041)
Proceeds from (repayments of) commercial paper, net 300  (201) (3,508) (382) 3,666 
Proceeds from issuance of long-term debt 5,444  6,935  5,291  3,968  11,982 
Customer funds administered 13  (131) 3,172  1,692  768 
Other, net (1,237) (1,386) (413) (581) (552)
Cash flows from (used for) financing activities (5,625) (4,365) (3,441) (1,011) 12,239 
Effect of exchange rate changes on cash and cash equivalents (20) (78) (5) 78  (156)
Increase (decrease) in cash and cash equivalents 119  (1,115) 1,551  (493) 3,428 
Cash and cash equivalents, beginning of period 10,866  11,981  10,430  10,923  7,495 
Cash and cash equivalents, end of period 10,985  10,866  11,981  10,430  10,923 

Based on: 10-K (filing date: 2020-02-14), 10-K (filing date: 2019-02-12), 10-K (filing date: 2018-02-13), 10-K (filing date: 2017-02-08), 10-K (filing date: 2016-02-09).

Cash flow statement item Description The company
Cash flows from 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. UnitedHealth Group Inc.’s cash flows from operating activities increased from 2017 to 2018 and from 2018 to 2019.
Cash flows used for 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. UnitedHealth Group Inc.’s cash flows used for investing activities decreased from 2017 to 2018 and from 2018 to 2019.
Cash flows from (used for) 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. UnitedHealth Group Inc.’s cash flows from (used for) financing activities decreased from 2017 to 2018 and from 2018 to 2019.