For the year ending 2025-12-31, UNH had -$947M decrease in cash & cash equivalents over the period. $16,075M in free cash flow.
| Cash Flow | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Net earnings | 12,807 | 15,242 | 23,144 | 20,639 |
| Depreciation and amortization | 4,361 | 4,099 | 3,972 | 3,400 |
| Deferred income taxes | -1,752 | -296 | -245 | -673 |
| Share-based compensation | 971 | 1,018 | 1,059 | 925 |
| Loss on sale of subsidiary and subsidiaries held for sale | -265 | -8,310 | - | - |
| Net gains on dispositions and other strategic transactions | 910 | 3,333 | - | - |
| Other, net | -1,673 | 28 | 505 | 331 |
| Accounts receivable | 764 | 1,437 | 3,114 | 2,523 |
| Other assets | 4,606 | 4,140 | 2,444 | 1,374 |
| Medical costs payable | 5,824 | 2,503 | 3,482 | 4,053 |
| Accounts payable and other liabilities | 1,665 | 2,463 | 3,516 | 1,964 |
| Unearned revenues | 163 | -197 | 203 | 126 |
| Cash flows from operating activities | 19,697 | 24,204 | 29,068 | 26,206 |
| Purchases of investments | 17,373 | 27,308 | 18,314 | 18,825 |
| Sales of investments | 9,288 | 18,514 | 7,307 | 5,907 |
| Maturities of investments | 8,446 | 9,319 | 9,230 | 6,081 |
| Cash paid for acquisitions and other transactions, net of cash assumed | 4,509 | 13,408 | 10,136 | 21,458 |
| Purchases of property, equipment and capitalized software | 3,622 | 3,499 | 3,386 | 2,802 |
| Loans to care providers - cyberattack | 0 | -9,033 | - | - |
| Repayments of care provider loans - cyberattack | 1,680 | 4,514 | - | - |
| Cash received from dispositions, net | 561 | 2,041 | 685 | 3,414 |
| Originations and purchases of loans | 4,795 | - | - | - |
| Repayments and maturities of loans | 1,980 | - | - | - |
| Other, net | 341 | 1,667 | 960 | 793 |
| Cash flows used for investing activities | -8,685 | -20,527 | -15,574 | -28,476 |
| Common share repurchases | 5,545 | 9,000 | 8,000 | 7,000 |
| Cash dividends paid | 7,916 | 7,533 | 6,761 | 5,991 |
| Proceeds from common stock issuances | 827 | 1,846 | 1,353 | 1,253 |
| Repayments of long-term debt | 3,050 | 3,000 | 2,125 | 3,015 |
| Proceeds from (repayments of) short-term borrowings, net | 807 | -151 | 11 | 732 |
| Proceeds from issuance of long-term debt | 2,969 | 17,811 | 6,394 | 14,819 |
| Customer funds administered | 366 | -1,560 | -521 | 5,548 |
| Purchases of redeemable noncontrolling interests | 165 | 280 | 730 | 176 |
| Other, net | 63 | -1,645 | -1,150 | -1,944 |
| Cash flows used for financing activities | -11,644 | -3,512 | -11,529 | 4,226 |
| Effect of exchange rate changes on cash and cash equivalents | 40 | -61 | 97 | 34 |
| Increase in cash and cash equivalents, including cash within businesses held for sale | - | 104 | - | - |
| Less net increase in cash within businesses held for sale | -355 | -219 | - | - |
| Net (decrease) increase in cash and cash equivalents | -947 | -115 | 2,062 | 1,990 |
UNITEDHEALTH GROUP INC (UNH)
UNITEDHEALTH GROUP INC (UNH)