Cash flows from operating activities:

Net earnings

$       1,539

$       1,314

Adjustments to reconcile net earnings to net cash provided by operating activities

Depreciation and amortization

300

314

Stock compensation expense

67

59

Loss on debt extinguishment

5

—

Deferred income taxes

(53)

(27)

Loss on divestitures

—

10

Changes in assets and liabilities

Premium and trade receivables

(1,353)

(2,684)

Other assets

(188)

(669)

Medical claims liabilities

95

1,603

Unearned revenue

217

208

Accounts payable and accrued expenses

2,905

563

Other long-term liabilities

849

814

Other operating activities, net

(17)

5

Net cash provided by operating activities

4,366

1,510

Cash flows from investing activities:

Capital expenditures

(200)

(135)

Purchases of investments

(987)

(1,630)

Sales and maturities of investments

1,276

1,236

Net cash provided by (used in) investing activities

89

(529)

Cash flows from financing activities:

Proceeds from long-term debt

—

750

Payments and repurchases of long-term debt

(1,046)

(958)

Common stock repurchases

(29)

(41)

Proceeds from common stock issuances

10

10

Other financing activities, net

2

(11)

Net cash (used in) financing activities

(1,063)

(250)

Net increase in cash, cash equivalents and restricted cash and cash equivalents

3,392

731

Cash and cash equivalents reclassified from held for sale

4

—

Cash, cash equivalents and restricted cash and cash equivalents, beginning of period

17,957

14,156

Cash, cash equivalents and restricted cash and cash equivalents, end of period

$      21,353

$      14,887

Supplemental disclosures of cash flow information:

Interest paid

$         146

$         129

Income tax net payments (refunds)

$          (19)

$            7

The following table provides a reconciliation of cash, cash equivalents and restricted cash and cash equivalents reported within the Consolidated
Balance Sheets to the totals above:

March 31,

2026

2025

Cash and cash equivalents

$      21,264

$      14,815

Restricted cash and cash equivalents, included in restricted deposits

89

72

Total cash, cash equivalents and restricted cash and cash equivalents

$      21,353

$      14,887