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, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net earnings $ 681 $ 162
Adjustments to reconcile net earnings to net cash provided by operating activities    
Depreciation and amortization 787 717
Stock compensation expense 129 87
Impairment 1,450 0
(Gain) loss on debt extinguishment (16) 46
Gain on acquisition 2 0
Deferred income taxes (417) (76)
Gain on divestiture 0 62
Other adjustments, net 162 14
Changes in assets and liabilities    
Premium and trade receivables (1,288) (1,514)
Other assets (245) (458)
Medical claims liabilities 2,089 325
Unearned revenue 75 (83)
Accounts payable and accrued expenses 41 1,285
Other long-term liabilities 1,058 1,161
Other operating activities, net 1 0
Net cash provided by operating activities 4,505 1,728
Cash flows from investing activities:    
Capital expenditures (524) (437)
Purchases of investments (3,114) (3,590)
Sales and maturities of investments 2,005 2,809
Acquisitions, net of cash acquired (1,512) (140)
Divestiture proceeds, net of divested cash 0 (62)
Net cash used in investing activities (3,145) (1,420)
Cash flows from financing activities:    
Proceeds from long-term debt 331 2,398
Payments of long-term debt (900) (2,353)
Common stock repurchases (420) (33)
Payments for debt extinguishment (27) (54)
Debt issuance costs 0 (28)
Other financing activities, net 32 24
Net cash used in financing activities (984) (46)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (9) (24)
Net increase in cash, cash equivalents and restricted cash and cash equivalents 367 238
Cash, cash equivalents, and restricted cash and cash equivalents, beginning of period 13,214 10,957
Cash, cash equivalents, and restricted cash and cash equivalents, end of period 13,581 11,195
Supplemental disclosures of cash flow information:    
Interest paid 327 355
Income taxes paid 411 406
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 13,435 11,018
Restricted cash and cash equivalents, included in restricted deposits 146 177
Total cash, cash equivalents, and restricted cash and cash equivalents $ 13,581 $ 11,195