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CONSOLIDATED STATEMENTS OF CASH FLOW - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities      
Net income $ 2,484 $ 2,802 $ 2,934
Adjustments to reconcile net income to net cash provided by operating activities:      
Gain on sale of Gentiva Hospice 0 (237) 0
Loss on investment securities, net 54 205 130
Gain on Kindred at Home equity method investment 0 0 (1,129)
Equity in net losses (earnings) 63 4 (65)
Stock-based compensation 175 216 180
Depreciation 850 749 640
Amortization 67 96 73
Impairment of property and equipment 206 248 0
Impairment of indefinite-lived intangible assets 55 0 0
Deferred income taxes (167) (100) 15
Changes in operating assets and liabilities, net of effect of businesses acquired and dispositions:      
Receivables (337) (54) (280)
Other assets (1,318) (463) (491)
Benefits payable 915 975 104
Other liabilities 841 44 176
Unearned revenues (20) 32 (65)
Other, net 113 70 40
Net cash provided by operating activities 3,981 4,587 2,262
Cash flows from investing activities      
Proceeds from sale of Gentiva Hospice, net 0 2,701 0
Acquisitions, net of cash and cash equivalents acquired (233) (337) (4,187)
Purchases of property and equipment (1,004) (1,137) (1,342)
Proceeds from sale of property and equipment 210 17 26
Purchases of investment securities (7,552) (6,049) (7,197)
Maturities of investment securities 1,292 1,365 2,597
Proceeds from sales of investment securities 3,795 2,434 3,547
Net cash used in investing activities (3,492) (1,006) (6,556)
Cash flows from financing activities      
Receipts (withdrawals) from contract deposits, net 828 1,993 (306)
Proceeds from issuance of senior notes, net 2,544 1,982 2,984
Repayment of senior notes (1,832) (1,000) 0
Proceeds (repayments) from issuance of commercial paper, net 211 (376) 352
Proceeds from short-term borrowings 100 0 0
Repayment of short-term borrowings (100) 0 0
Proceeds from term loan 0 0 2,500
Repayment of term loan (500) (2,000) (2,078)
Debt issue costs (7) (6) (31)
Common stock repurchases (1,573) (2,096) (79)
Dividends paid (431) (392) (354)
Change in book overdraft 55 (28) 6
Other, net (151) 9 21
Net cash (used in) provided by financing activities (856) (1,914) 3,015
(Decrease) increase in cash and cash equivalents (367) 1,667 (1,279)
Cash and cash equivalents at beginning of period 5,061 3,394 4,673
Cash and cash equivalents at end of period 4,694 5,061 3,394
Supplemental cash flow disclosures:      
Interest payments 394 354 285
Income tax payments, net 997 758 227
Details of businesses acquired in purchase transactions:      
Fair value of assets acquired, net of cash acquired 462 460 9,804
Less: Fair value of liabilities assumed (234) (70) (3,235)
Less: Noncontrolling interests acquired 5 (53) (22)
Less: Remeasured existing Kindred at Home equity method investment 0 0 (2,360)
Cash paid for acquired businesses, net of cash acquired $ 233 $ 337 $ 4,187