Stock Analysis on Net

UnitedHealth Group Inc. (NYSE:UNH)

Analysis of Reportable Segments 

Microsoft Excel

Segment Profit Margin

UnitedHealth Group Inc., profit margin by reportable segment

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
UnitedHealthcare 5.37% 6.15% 5.33% 4.97% 5.21%
Optum Health 8.25% 8.63% 9.77% 10.06% 8.86%
Optum Insight 27.85% 25.23% 24.93% 24.90% 21.89%
Optum Rx 4.53% 4.44% 5.25% 5.12% 4.89%

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

Segment profitability ratio Reportable segment The company
Segment profit margin UnitedHealthcare UnitedHealthcare segment profit margin ratio improved from 2019 to 2020 but then slightly deteriorated from 2020 to 2021 not reaching 2019 level.
Optum Health Optum Health segment profit margin ratio deteriorated from 2019 to 2020 and from 2020 to 2021.
Optum Insight Optum Insight segment profit margin ratio improved from 2019 to 2020 and from 2020 to 2021.
Optum Rx Optum Rx segment profit margin ratio deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021.

Segment Profit Margin: UnitedHealthcare

UnitedHealth Group Inc.; UnitedHealthcare; segment profit margin calculation

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Earnings before income taxes 11,975  12,359  10,326  9,113  8,498 
Revenues, including investment and other income 222,899  200,875  193,842  183,476  163,257 
Segment Profitability Ratio
Segment profit margin1 5.37% 6.15% 5.33% 4.97% 5.21%

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Segment profit margin = 100 × Earnings before income taxes ÷ Revenues, including investment and other income
= 100 × 11,975 ÷ 222,899 = 5.37%

Segment profitability ratio Reportable segment The company
Segment profit margin UnitedHealthcare UnitedHealthcare segment profit margin ratio improved from 2019 to 2020 but then slightly deteriorated from 2020 to 2021 not reaching 2019 level.

Segment Profit Margin: Optum Health

UnitedHealth Group Inc.; Optum Health; segment profit margin calculation

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Earnings before income taxes 4,462  3,434  2,963  2,430  1,823 
Revenues, including investment and other income 54,065  39,808  30,317  24,145  20,570 
Segment Profitability Ratio
Segment profit margin1 8.25% 8.63% 9.77% 10.06% 8.86%

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Segment profit margin = 100 × Earnings before income taxes ÷ Revenues, including investment and other income
= 100 × 4,462 ÷ 54,065 = 8.25%

Segment profitability ratio Reportable segment The company
Segment profit margin Optum Health Optum Health segment profit margin ratio deteriorated from 2019 to 2020 and from 2020 to 2021.

Segment Profit Margin: Optum Insight

UnitedHealth Group Inc.; Optum Insight; segment profit margin calculation

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Earnings before income taxes 3,398  2,725  2,494  2,243  1,770 
Revenues, including investment and other income 12,199  10,802  10,006  9,008  8,087 
Segment Profitability Ratio
Segment profit margin1 27.85% 25.23% 24.93% 24.90% 21.89%

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Segment profit margin = 100 × Earnings before income taxes ÷ Revenues, including investment and other income
= 100 × 3,398 ÷ 12,199 = 27.85%

Segment profitability ratio Reportable segment The company
Segment profit margin Optum Insight Optum Insight segment profit margin ratio improved from 2019 to 2020 and from 2020 to 2021.

Segment Profit Margin: Optum Rx

UnitedHealth Group Inc.; Optum Rx; segment profit margin calculation

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Earnings before income taxes 4,135  3,887  3,902  3,558  3,118 
Revenues, including investment and other income 91,314  87,498  74,288  69,536  63,755 
Segment Profitability Ratio
Segment profit margin1 4.53% 4.44% 5.25% 5.12% 4.89%

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Segment profit margin = 100 × Earnings before income taxes ÷ Revenues, including investment and other income
= 100 × 4,135 ÷ 91,314 = 4.53%

Segment profitability ratio Reportable segment The company
Segment profit margin Optum Rx Optum Rx segment profit margin ratio deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021.

Segment Return on Assets (Segment ROA)

UnitedHealth Group Inc., ROA by reportable segment

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
UnitedHealthcare 11.63% 12.58% 11.70% 10.99% 11.08%
Optum Health 7.38% 6.59% 7.33% 8.14% 6.77%
Optum Insight 20.14% 17.67% 16.43% 20.32% 15.70%
Optum Rx 10.29% 9.90% 10.74% 10.49% 10.55%

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

Segment profitability ratio Reportable segment The company
Segment ROA UnitedHealthcare UnitedHealthcare segment ROA improved from 2019 to 2020 but then deteriorated significantly from 2020 to 2021.
Optum Health Optum Health segment ROA deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.
Optum Insight Optum Insight segment ROA improved from 2019 to 2020 and from 2020 to 2021.
Optum Rx Optum Rx segment ROA deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021.

Segment ROA: UnitedHealthcare

UnitedHealth Group Inc.; UnitedHealthcare; segment ROA calculation

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Earnings before income taxes 11,975  12,359  10,326  9,113  8,498 
Assets 102,967  98,229  88,250  82,938  76,676 
Segment Profitability Ratio
Segment ROA1 11.63% 12.58% 11.70% 10.99% 11.08%

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Segment ROA = 100 × Earnings before income taxes ÷ Assets
= 100 × 11,975 ÷ 102,967 = 11.63%

Segment profitability ratio Reportable segment The company
Segment ROA UnitedHealthcare UnitedHealthcare segment ROA improved from 2019 to 2020 but then deteriorated significantly from 2020 to 2021.

Segment ROA: Optum Health

UnitedHealth Group Inc.; Optum Health; segment ROA calculation

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Earnings before income taxes 4,462  3,434  2,963  2,430  1,823 
Assets 60,474  52,073  40,444  29,837  26,931 
Segment Profitability Ratio
Segment ROA1 7.38% 6.59% 7.33% 8.14% 6.77%

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Segment ROA = 100 × Earnings before income taxes ÷ Assets
= 100 × 4,462 ÷ 60,474 = 7.38%

Segment profitability ratio Reportable segment The company
Segment ROA Optum Health Optum Health segment ROA deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.

Segment ROA: Optum Insight

UnitedHealth Group Inc.; Optum Insight; segment ROA calculation

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Earnings before income taxes 3,398  2,725  2,494  2,243  1,770 
Assets 16,868  15,425  15,181  11,039  11,273 
Segment Profitability Ratio
Segment ROA1 20.14% 17.67% 16.43% 20.32% 15.70%

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Segment ROA = 100 × Earnings before income taxes ÷ Assets
= 100 × 3,398 ÷ 16,868 = 20.14%

Segment profitability ratio Reportable segment The company
Segment ROA Optum Insight Optum Insight segment ROA improved from 2019 to 2020 and from 2020 to 2021.

Segment ROA: Optum Rx

UnitedHealth Group Inc.; Optum Rx; segment ROA calculation

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Earnings before income taxes 4,135  3,887  3,902  3,558  3,118 
Assets 40,181  39,280  36,346  33,912  29,551 
Segment Profitability Ratio
Segment ROA1 10.29% 9.90% 10.74% 10.49% 10.55%

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Segment ROA = 100 × Earnings before income taxes ÷ Assets
= 100 × 4,135 ÷ 40,181 = 10.29%

Segment profitability ratio Reportable segment The company
Segment ROA Optum Rx Optum Rx segment ROA deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021.

Segment Asset Turnover

UnitedHealth Group Inc., asset turnover by reportable segment

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
UnitedHealthcare 2.16 2.04 2.20 2.21 2.13
Optum Health 0.89 0.76 0.75 0.81 0.76
Optum Insight 0.72 0.70 0.66 0.82 0.72
Optum Rx 2.27 2.23 2.04 2.05 2.16

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

Segment activity ratio Reportable segment The company
Segment asset turnover UnitedHealthcare UnitedHealthcare segment asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level.
Optum Health Optum Health segment asset turnover ratio improved from 2019 to 2020 and from 2020 to 2021.
Optum Insight Optum Insight segment asset turnover ratio improved from 2019 to 2020 and from 2020 to 2021.
Optum Rx Optum Rx segment asset turnover ratio improved from 2019 to 2020 and from 2020 to 2021.

Segment Asset Turnover: UnitedHealthcare

UnitedHealth Group Inc.; UnitedHealthcare; segment asset turnover calculation

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Revenues, including investment and other income 222,899  200,875  193,842  183,476  163,257 
Assets 102,967  98,229  88,250  82,938  76,676 
Segment Activity Ratio
Segment asset turnover1 2.16 2.04 2.20 2.21 2.13

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Segment asset turnover = Revenues, including investment and other income ÷ Assets
= 222,899 ÷ 102,967 = 2.16

Segment activity ratio Reportable segment The company
Segment asset turnover UnitedHealthcare UnitedHealthcare segment asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level.

Segment Asset Turnover: Optum Health

UnitedHealth Group Inc.; Optum Health; segment asset turnover calculation

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Revenues, including investment and other income 54,065  39,808  30,317  24,145  20,570 
Assets 60,474  52,073  40,444  29,837  26,931 
Segment Activity Ratio
Segment asset turnover1 0.89 0.76 0.75 0.81 0.76

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Segment asset turnover = Revenues, including investment and other income ÷ Assets
= 54,065 ÷ 60,474 = 0.89

Segment activity ratio Reportable segment The company
Segment asset turnover Optum Health Optum Health segment asset turnover ratio improved from 2019 to 2020 and from 2020 to 2021.

Segment Asset Turnover: Optum Insight

UnitedHealth Group Inc.; Optum Insight; segment asset turnover calculation

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Revenues, including investment and other income 12,199  10,802  10,006  9,008  8,087 
Assets 16,868  15,425  15,181  11,039  11,273 
Segment Activity Ratio
Segment asset turnover1 0.72 0.70 0.66 0.82 0.72

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Segment asset turnover = Revenues, including investment and other income ÷ Assets
= 12,199 ÷ 16,868 = 0.72

Segment activity ratio Reportable segment The company
Segment asset turnover Optum Insight Optum Insight segment asset turnover ratio improved from 2019 to 2020 and from 2020 to 2021.

Segment Asset Turnover: Optum Rx

UnitedHealth Group Inc.; Optum Rx; segment asset turnover calculation

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Revenues, including investment and other income 91,314  87,498  74,288  69,536  63,755 
Assets 40,181  39,280  36,346  33,912  29,551 
Segment Activity Ratio
Segment asset turnover1 2.27 2.23 2.04 2.05 2.16

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Segment asset turnover = Revenues, including investment and other income ÷ Assets
= 91,314 ÷ 40,181 = 2.27

Segment activity ratio Reportable segment The company
Segment asset turnover Optum Rx Optum Rx segment asset turnover ratio improved from 2019 to 2020 and from 2020 to 2021.

Segment Capital Expenditures to Depreciation

UnitedHealth Group Inc., capital expenditures to depreciation by reportable segment

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
UnitedHealthcare 0.79 0.75 0.91 0.90 0.97
Optum Health 0.97 1.02 1.01 1.35 1.34
Optum Insight 0.83 0.69 0.74 0.79 0.96
Optum Rx 0.50 0.31 0.29 0.39 0.38

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

Segment financial ratio Reportable segment The company
Segment capital expenditures to depreciation UnitedHealthcare UnitedHealthcare segment capital expenditures to depreciation ratio deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021.
Optum Health Optum Health segment capital expenditures to depreciation ratio improved from 2019 to 2020 but then deteriorated significantly from 2020 to 2021.
Optum Insight Optum Insight segment capital expenditures to depreciation ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.
Optum Rx Optum Rx segment capital expenditures to depreciation ratio improved from 2019 to 2020 and from 2020 to 2021.

Segment Capital Expenditures to Depreciation: UnitedHealthcare

UnitedHealth Group Inc.; UnitedHealthcare; segment capital expenditures to depreciation calculation

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Purchases of property, equipment and capitalized software 795  687  841  761  737 
Depreciation and amortization 1,004  920  926  845  758 
Segment Financial Ratio
Segment capital expenditures to depreciation1 0.79 0.75 0.91 0.90 0.97

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Segment capital expenditures to depreciation = Purchases of property, equipment and capitalized software ÷ Depreciation and amortization
= 795 ÷ 1,004 = 0.79

Segment financial ratio Reportable segment The company
Segment capital expenditures to depreciation UnitedHealthcare UnitedHealthcare segment capital expenditures to depreciation ratio deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021.

Segment Capital Expenditures to Depreciation: Optum Health

UnitedHealth Group Inc.; Optum Health; segment capital expenditures to depreciation calculation

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Purchases of property, equipment and capitalized software 791  715  573  593  510 
Depreciation and amortization 818  703  565  439  380 
Segment Financial Ratio
Segment capital expenditures to depreciation1 0.97 1.02 1.01 1.35 1.34

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Segment capital expenditures to depreciation = Purchases of property, equipment and capitalized software ÷ Depreciation and amortization
= 791 ÷ 818 = 0.97

Segment financial ratio Reportable segment The company
Segment capital expenditures to depreciation Optum Health Optum Health segment capital expenditures to depreciation ratio improved from 2019 to 2020 but then deteriorated significantly from 2020 to 2021.

Segment Capital Expenditures to Depreciation: Optum Insight

UnitedHealth Group Inc.; Optum Insight; segment capital expenditures to depreciation calculation

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Purchases of property, equipment and capitalized software 567  461  495  517  588 
Depreciation and amortization 684  670  672  654  614 
Segment Financial Ratio
Segment capital expenditures to depreciation1 0.83 0.69 0.74 0.79 0.96

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Segment capital expenditures to depreciation = Purchases of property, equipment and capitalized software ÷ Depreciation and amortization
= 567 ÷ 684 = 0.83

Segment financial ratio Reportable segment The company
Segment capital expenditures to depreciation Optum Insight Optum Insight segment capital expenditures to depreciation ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.

Segment Capital Expenditures to Depreciation: Optum Rx

UnitedHealth Group Inc.; Optum Rx; segment capital expenditures to depreciation calculation

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Purchases of property, equipment and capitalized software 301  188  162  192  188 
Depreciation and amortization 597  598  557  490  493 
Segment Financial Ratio
Segment capital expenditures to depreciation1 0.50 0.31 0.29 0.39 0.38

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Segment capital expenditures to depreciation = Purchases of property, equipment and capitalized software ÷ Depreciation and amortization
= 301 ÷ 597 = 0.50

Segment financial ratio Reportable segment The company
Segment capital expenditures to depreciation Optum Rx Optum Rx segment capital expenditures to depreciation ratio improved from 2019 to 2020 and from 2020 to 2021.

Revenues, including investment and other income

UnitedHealth Group Inc., revenues, including investment and other income by reportable segment

US$ in millions

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
UnitedHealthcare 222,899  200,875  193,842  183,476  163,257 
Optum Health 54,065  39,808  30,317  24,145  20,570 
Optum Insight 12,199  10,802  10,006  9,008  8,087 
Optum Rx 91,314  87,498  74,288  69,536  63,755 
Optum Eliminations (2,013) (1,800) (1,661) (1,409) (1,227)
Optum 155,565  136,308  112,950  101,280  91,185 
Corporate and Eliminations (90,867) (80,042) (64,637) (58,509) (53,283)
Consolidated 287,597  257,141  242,155  226,247  201,159 

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).


Earnings before income taxes

UnitedHealth Group Inc., earnings before income taxes by reportable segment

US$ in millions

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
UnitedHealthcare 11,975  12,359  10,326  9,113  8,498 
Optum Health 4,462  3,434  2,963  2,430  1,823 
Optum Insight 3,398  2,725  2,494  2,243  1,770 
Optum Rx 4,135  3,887  3,902  3,558  3,118 
Optum 11,995  10,046  9,359  8,231  6,711 
Corporate and Eliminations (1,660) (1,663) (1,704) (1,400) (1,186)
Consolidated 22,310  20,742  17,981  15,944  14,023 

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).


Assets

UnitedHealth Group Inc., assets by reportable segment

US$ in millions

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
UnitedHealthcare 102,967  98,229  88,250  82,938  76,676 
Optum Health 60,474  52,073  40,444  29,837  26,931 
Optum Insight 16,868  15,425  15,181  11,039  11,273 
Optum Rx 40,181  39,280  36,346  33,912  29,551 
Optum 117,523  106,778  91,971  74,788  67,755 
Corporate and Eliminations (8,284) (7,718) (6,332) (5,505) (5,373)
Consolidated 212,206  197,289  173,889  152,221  139,058 

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).


Purchases of property, equipment and capitalized software

UnitedHealth Group Inc., purchases of property, equipment and capitalized software by reportable segment

US$ in millions

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
UnitedHealthcare 795  687  841  761  737 
Optum Health 791  715  573  593  510 
Optum Insight 567  461  495  517  588 
Optum Rx 301  188  162  192  188 
Optum 1,659  1,364  1,230  1,302  1,286 
Consolidated 2,454  2,051  2,071  2,063  2,023 

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).


Depreciation and amortization

UnitedHealth Group Inc., depreciation and amortization by reportable segment

US$ in millions

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
UnitedHealthcare 1,004  920  926  845  758 
Optum Health 818  703  565  439  380 
Optum Insight 684  670  672  654  614 
Optum Rx 597  598  557  490  493 
Optum 2,099  1,971  1,794  1,583  1,487 
Consolidated 3,103  2,891  2,720  2,428  2,245 

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).