Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v3.5.0.2
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash flows from operating activities:    
Net earnings $ 298 $ 246
Adjustments to reconcile net earnings to net cash provided by operating activities    
Depreciation and amortization 189 82
Stock compensation expense 112 48
Deferred income taxes (17) (14)
Gain on contingent consideration (2) (37)
Goodwill and intangible adjustment 0 28
Changes in assets and liabilities    
Premium and related receivables (906) (360)
Other current assets (81) (103)
Medical claims liabilities 15 394
Unearned revenue 301 (104)
Accounts payable and accrued expenses 99 209
Other long term liabilities 156 101
Other operating activities, net 91 (33)
Net cash provided by operating activities 255 457
Cash flows from investing activities:    
Capital expenditures (211) (101)
Purchases of investments (1,528) (1,077)
Sales and maturities of investments 955 418
Investments in acquisitions, net of cash acquired (848) (16)
Other investing activities, net 0 7
Net cash used in investing activities (1,632) (769)
Cash flows from financing activities:    
Proceeds from borrowings 6,956 1,305
Payment of long term debt (4,257) (910)
Common stock repurchases (29) (9)
Purchase of noncontrolling interest (14) 0
Debt issue costs (59) (4)
Other financing activities, net 1 (15)
Net cash provided by financing activities 2,598 367
Effect of exchange rate changes on cash and cash equivalents 1 0
Net increase in cash and cash equivalents 1,222 55
Cash and cash equivalents, beginning of period 1,760 1,610
Cash and cash equivalents, end of period 2,982 1,665
Supplemental disclosures of cash flow information:    
Interest paid 113 28
Income taxes paid 394 229
Equity issued in connection with acquisitions $ 3,105 $ 12