Mergers and Acquisitions

12 Months Ended

Dec. 31, 2017

Acquisitions and Dispositions [Abstract]

Note 3 – Mergers, Acquisitions and Dispositions

The following table presents transaction-related costs incurred by the Company for the years ended December 31, 2017, 2016 and 2015. Transaction-related costs primarily consist of fees for legal, advisory and other professional services as well as employee costs. In addition, because the merger with Anthem, Inc. (“Anthem”) was not consummated, certain transaction-related costs that were previously not deductible for federal income tax purposes became deductible. The Company recognized an incremental tax benefit for these newly deductible costs in 2017 as presented below.

	2017				2016				2015
(In millions)	Before-tax		After-tax		Before-tax		After-tax		Before-tax		After-tax
Transaction-related costs	$	126	$	92	$	166	$	147	$	66	$	57
Tax (benefit) - previously non-deductible costs		-		(59)		-		-		-		-
Transaction-related costs, net	$	126	$	33	$	166	$	147	$	66	$	57