Intersegment sales and expenses are recorded at fair value and eliminated in consolidation. Members served by our segments often use the same provider networks, enabling us in some instances to obtain more favorable contract terms with providers. Our segments also share indirect costs and assets. As a result, the profitability of each segment is interdependent. We allocate most operating expenses to our segments. Assets and certain corporate income and expenses are not allocated to the segments, including the portion of investment income not supporting segment operations, interest expense on corporate debt, and certain other corporate expenses. These items are managed at a corporate level. These corporate amounts are reported separately from our reportable segments and are included with intersegment eliminations in the tables presenting segment results below.

Our segment results were as follows for the three and nine months ended September 30, 2016 and 2015:



	Retail		Group		Healthcare Services		Other Businesses			Eliminations/ Corporate			Consolidated
	(in millions)
Three months ended September 30, 2016
Revenues - external customers
Premiums:
Individual Medicare Advantage	$	7,977	$	—	$	—	$	—		$	—		$	7,977
Group Medicare Advantage	1,067		—		—		—			—			1,067
Medicare stand-alone PDP	1,004		—		—		—			—			1,004
Total Medicare	10,048		—		—		—			—			10,048
Fully-insured	991		1,350		—		—			—			2,341
Specialty	65		253		—		—			—			318
Medicaid and other	652		2		—		10			—			664
Total premiums	11,756		1,605		—		10			—			13,371
Services revenue:
Provider	—		12		57		—			—			69
ASO and other	3		146		—		1			—			150
Pharmacy	—		—		8		—			—			8
Total services revenue	3		158		65		1			—			227
Total revenues - external customers	11,759		1,763		65		11			—			13,598
Intersegment revenues
Services	—		23		4,708		—			(4,731		)	—
Products	—		—		1,580		—			(1,580		)	—
Total intersegment revenues	—		23		6,288		—			(6,311		)	—
Investment income	25		4		8		17			42			96
Total revenues	11,784		1,790		6,361		28			(6,269		)	13,694
Operating expenses:
Benefits	9,771		1,327		—		26			(224		)	10,900
Operating costs	1,308		430		6,040		4			(6,023		)	1,759
Depreciation and amortization	61		21		33		—			(29		)	86
Total operating expenses	11,140		1,778		6,073		30			(6,276		)	12,745
Income (loss) from operations	644		12		288		(2		)	7			949
Interest expense	—		—		—		—			47			47
Income (loss) before income taxes	$	644	$	12	$	288	$	(2	)	$	(40	)	$	902



	Retail		Group		Healthcare Services		Other Businesses		Eliminations/ Corporate			Consolidated
	(in millions)
Three months ended September 30, 2015
Revenues - external customers
Premiums:
Individual Medicare Advantage	$	7,316	$	—	$	—	$	—	$	—		$	7,316
Group Medicare Advantage	1,396		—		—		—		—			1,396
Medicare stand-alone PDP	927		—		—		—		—			927
Total Medicare	9,639		—		—		—		—			9,639
Fully-insured	1,056		1,362		—		—		—			2,418
Specialty	66		260		—		—		—			326
Medicaid and other	592		6		—		6		—			604
Total premiums	11,353		1,628		—		6		—			12,987
Services revenue:
Provider	—		9		61		—		—			70
ASO and other	1		162		—		5		—			168
Pharmacy	—		—		8		—		—			8
Total services revenue	1		171		69		5		—			246
Total revenues - external customers	11,354		1,799		69		11		—			13,233
Intersegment revenues
Services	—		24		4,558		—		(4,582		)	—
Products	—		—		1,271		—		(1,271		)	—
Total intersegment revenues	—		24		5,829		—		(5,853		)	—
Investment income	38		7		—		16		69			130
Total revenues	11,392		1,830		5,898		27		(5,784		)	13,363
Operating expenses:
Benefits	9,777		1,341		—		22		(244		)	10,896
Operating costs	1,241		426		5,584		3		(5,566		)	1,688
Depreciation and amortization	49		24		30		—		(19		)	84
Total operating expenses	11,067		1,791		5,614		25		(5,829		)	12,668
Income from operations	325		39		284		2		45			695
Interest expense	—		—		—		—		47			47
Income (loss) before income taxes	$	325	$	39	$	284	$	2	$	(2	)	$	648




	Retail		Group		Healthcare Services		Other Businesses			Eliminations/ Corporate			Consolidated
	(in millions)
Nine months ended September 30, 2016
Revenues - external customers
Premiums:
Individual Medicare Advantage	$	24,054	$	—	$	—	$	—		$	—		$	24,054
Group Medicare Advantage	3,229		—		—		—			—			3,229
Medicare stand-alone PDP	3,058		—		—		—			—			3,058
Total Medicare	30,341		—		—		—			—			30,341
Fully-insured	3,118		4,044		—		—			—			7,162
Specialty	196		761		—		—			—			957
Medicaid and other	1,960		12		—		29			—			2,001
Total premiums	35,615		4,817		—		29			—			40,461
Services revenue:
Provider	—		38		176		—			—			214
ASO and other	7		499		—		7			—			513
Pharmacy	—		—		22		—			—			22
Total services revenue	7		537		198		7			—			749
Total revenues - external customers	35,622		5,354		198		36			—			41,210
Intersegment revenues
Services	—		67		14,198		—			(14,265		)	—
Products	—		—		4,373		—			(4,373		)	—
Total intersegment revenues	—		67		18,571		—			(18,638		)	—
Investment income	77		13		22		48			131			291
Total revenues	35,699		5,434		18,791		84			(18,507		)	41,501
Operating expenses:
Benefits	30,581		3,794		—		82			(651		)	33,806
Operating costs	3,825		1,300		17,894		12			(17,778		)	5,253
Depreciation and amortization	175		69		97		—			(78		)	263
Total operating expenses	34,581		5,163		17,991		94			(18,507		)	39,322
Income (loss) from operations	1,118		271		800		(10		)	—			2,179
Interest expense	—		—		—		—			141			141
Income (loss) before income taxes	$	1,118	$	271	$	800	$	(10	)	$	(141	)	$	2,038




	Retail		Group		Healthcare Services		Other Businesses		Eliminations/ Corporate			Consolidated
	(in millions)
Nine months ended September 30, 2015
Revenues - external customers
Premiums:
Individual Medicare Advantage	$	22,183	$	—	$	—	$	—	$	—		$	22,183
Group Medicare Advantage	4,188		—		—		—		—			4,188
Medicare stand-alone PDP	2,915		—		—		—		—			2,915
Total Medicare	29,286		—		—		—		—			29,286
Fully-insured	3,263		4,125		—		—		—			7,388
Specialty	195		795		—		—		—			990
Medicaid and other	1,742		16		—		25		—			1,783
Total premiums	34,486		4,936		—		25		—			39,447
Services revenue:
Provider	—		29		590		—		—			619
ASO and other	7		485		—		10		—			502
Pharmacy	—		—		22		—		—			22
Total services revenue	7		514		612		10		—			1,143
Total revenues - external customers	34,493		5,450		612		35		—			40,590
Intersegment revenues
Services	—		68		13,357		—		(13,425		)	—
Products	—		—		3,654		—		(3,654		)	—
Total intersegment revenues	—		68		17,011		—		(17,079		)	—
Investment income	96		18		—		53		171			338
Total revenues	34,589		5,536		17,623		88		(16,908		)	40,928
Operating expenses:
Benefits	29,781		3,908		—		66		(602		)	33,153
Operating costs	3,708		1,323		16,774		10		(16,365		)	5,450
Depreciation and amortization	140		69		112		—		(54		)	267
Total operating expenses	33,629		5,300		16,886		76		(17,021		)	38,870
Income from operations	960		236		737		12		113			2,058
Gain on sale of business	—		—		—		—		267			267
Interest expense	—		—		—		—		140			140
Income before income taxes	$	960	$	236	$	737	$	12	$	240		$	2,185