Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:    
Net earnings $ 1,248 $ 1,011
Adjustments to reconcile net earnings to net cash provided by operating activities    
Depreciation and amortization 618 313
Stock compensation expense 164 72
Impairment 72 0
Loss on debt extinguishment 44 0
Deferred income taxes 17 (10)
Gain on divestiture (104) 0
Other adjustments, net 2 0
Changes in assets and liabilities    
Premium and trade receivables (1,159) 234
Other assets 202 (47)
Medical claims liabilities 146 558
Unearned revenue (127) (138)
Accounts payable and accrued expenses 1,309 (616)
Other long-term liabilities 1,028 869
Other operating activities, net 14 (13)
Net cash provided by operating activities 3,474 2,233
Cash flows from investing activities:    
Capital expenditures (412) (336)
Purchases of investments (1,849) (1,280)
Sales and maturities of investments 1,768 719
Acquisitions, net of cash acquired (3,000) (32)
Divestiture proceeds, net of divested cash 466 0
Other investing activities, net (5) 0
Net cash used in investing activities (3,032) (929)
Cash flows from financing activities:    
Proceeds from long-term debt 2,630 5,617
Payments of long-term debt (1,598) (5,353)
Common stock repurchases (561) (37)
Payments for debt extinguishment (21) 0
Debt issuance costs (93) 0
Other financing activities, net 22 9
Net cash provided by financing activities 379 236
Effect of exchange rate changes on cash, cash equivalents, and restricted cash 3 2
Net increase in cash, cash equivalents and restricted cash and cash equivalents 824 1,542
Cash, cash equivalents, and restricted cash and cash equivalents, beginning of period 12,131 5,350
Cash, cash equivalents, and restricted cash and cash equivalents, end of period 12,955 6,892
Supplemental disclosures of cash flow information:    
Interest paid 360 132
Income taxes paid 75 381
Equity issued in connection with acquisitions 11,526 0
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:    
Cash and cash equivalents 12,798 6,875
Restricted cash and cash equivalents, included in restricted deposits 157 17
Total cash, cash equivalents, and restricted cash and cash equivalents $ 12,955 $ 6,892