Cash Flow Statement
Quarterly Data
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.
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).
- Net Earnings (Loss)
- The net earnings demonstrate considerable volatility throughout the periods, with an overall trend of fluctuating profitability. After an initial peak in June 2020, earnings declined sharply by December 2020, then gradually recovered and increased through 2023. However, there is a significant loss reported in March 2024, followed by a rebound in subsequent quarters, indicating possible episodic impacts on profitability.
- Depreciation and Amortization
- This expense steadily increased over the timeline, reflecting ongoing capital asset investments and perhaps acquisitions. The rise from 723 million in early 2020 to over 1 billion US dollars by late 2024 suggests growing asset bases or changes in amortization policies.
- Deferred Income Taxes
- The values for deferred income taxes fluctuate frequently between positive and negative figures without a clear pattern, indicating variable tax-related timing differences and possibly shifting tax positions across quarters.
- Share-based Compensation
- This expense shows intermittent spikes, particularly higher in late 2022 and mid-2024, which could be due to grant timings or changes in stock compensation plans. Overall, the amounts are increasing slightly over time, reflecting potential adjustments in employee remuneration strategies.
- Loss on Sale of Subsidiary and Subsidiaries Held for Sale
- Significant losses were recorded starting from mid-2024, peaking at 7,086 million US dollars in that period, tied to disposal activities. This indicates major divestitures occurred recently, impacting the financial results substantially.
- Gains on Dispositions and Other Strategic Transactions
- A notable large negative figure appears in late 2024, suggesting losses or write-downs on certain strategic transactions during that quarter.
- Other, Net (Operating)
- This item shows marked volatility and large negative spikes especially in 2021 and late 2024, suggesting non-recurring or irregular adjustments affecting operational results. Positive values are intermittent and much smaller in comparison to negatives.
- Noncash Items
- Noncash adjustments are mostly positive and significant in amount, indicating consistent depreciation, amortization, stock-based compensation, and other accruals. A very large spike in early 2024 likely corresponds to extraordinary accounting adjustments possibly related to the identified losses on sales and disposals.
- Working Capital Changes
- Accounts receivable, other assets, medical costs payable, and accounts payable exhibit high variability, reflecting changes in working capital management. The wide swings, including very negative and positive values, point to active operational adjustments and possible timing shifts in payables and receivables cycles.
- Cash Flows from Operating Activities
- Operating cash flows are generally positive and often substantial, with peaks noted in late 2022 and early 2023. Anomalies with sharp declines appear intermittently, such as in late 2022, aligning with large working capital fluctuations and disposal impacts.
- Investing Activities
- Purchases and sales of investments show regular activities with sales occasionally surpassing purchases, denoting a dynamic investment portfolio management. However, large cash outflows for acquisitions occur selectively, with a peak cash expenditure around late 2022, indicating strategic expansion or restructuring efforts.
- Property and Equipment Investments
- Capital expenditures for property, equipment, and software remain relatively stable but showed a general increasing trend until late 2023, suggesting ongoing investments in infrastructure.
- Cyberattack-related Loan Activities
- Beginning early 2024, notable loans to care providers related to a cyberattack and subsequent repayments indicate operational disruptions and recovery efforts within the company.
- Financing Activities
- Cash flows from financing activities display wide fluctuations including significant inflows and outflows. The company engaged in substantial share repurchases, particularly in 2022 and 2023, reflecting shareholder return strategies. The pattern of debt issuance and repayments is irregular, pointing to active capital structure management. Stock issuance proceeds remain modest throughout.
- Dividends Paid
- Dividend payments have been consistent and increasing slightly over the period, indicating a steady return of capital to shareholders.
- Exchange Rate Effects
- Foreign exchange impacts on cash balances are relatively small but fluctuating, implying some exposure to currency risks.
- Overall Cash Position Changes
- The company's cash position experiences significant volatility with both large increases and decreases. Particularly, there are remarkable inflows and outflows in early and late 2022 and 2023. This volatility corresponds with large investing and operating cash flow activities and cash impacts from strategic transactions including disposals and acquisitions.