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, 2015
Jun. 30, 2014
Cash flows from operating activities:    
Net earnings $ 152 $ 81
Adjustments to reconcile net earnings (loss) to net cash provided by (used in) operating activities    
Depreciation and amortization 53 42
Stock compensation expense 33 23
Deferred income taxes (13) (11)
Gain on settlement of contingent consideration (10) 0
Changes in assets and liabilities    
Premium and related receivables (341) (161)
Other current assets (28) 29
Other assets (30) (29)
Medical claims liabilities 366 284
Unearned revenue (102) (18)
Accounts payable and accrued expenses 166 160
Other long term liabilities 144 10
Other operating activities 5 2
Net cash provided by operating activities 395 412
Cash flows from investing activities:    
Capital expenditures (58) (42)
Purchases of investments (513) (475)
Sales and maturities of investments 276 221
Proceeds from asset sale 7 0
Investments in acquisitions, net of cash acquired (11) (94)
Net cash used in investing activities (299) (390)
Cash flows from financing activities:    
Proceeds from exercise of stock options 3 4
Proceeds from borrowings 750 1,145
Payment of long term debt (479) (945)
Excess tax benefits from stock compensation 6 1
Common stock repurchases (7) (5)
Contribution from noncontrolling interest 0 5
Debt issue costs (4) (6)
Payment of contingent consideration obligation (8) 0
Net cash provided by financing activities 261 199
Net increase in cash and cash equivalents 357 221
Cash and cash equivalents, beginning of period 1,610 1,038
Cash and cash equivalents, end of period 1,967 1,259
Supplemental disclosures of cash flow information:    
Interest paid 27 16
Income taxes paid 145 110
Equity issued in connection with acquisitions $ 13 $ 132