v3.26.3
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Operating activities:    
Net income $ 112 $ 632
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 117 151
Deferred income taxes (54) 37
Share-based compensation 85 27
Impairment 93 0
Other, net (21) (2)
Changes in operating assets and liabilities:    
Receivables 174 (118)
Prepaid expenses and other current assets 11 (25)
Medical claims and benefits payable 101 (157)
Amounts due government agencies (185) (467)
Accounts payable, accrued liabilities and other 88 (195)
Deferred revenue 16 (44)
Income taxes 92 (76)
Net cash provided by (used in) operating activities 629 (237)
Investing activities:    
Purchases of investments (1,245) (607)
Proceeds from sales and maturities of investments 1,020 1,017
Purchases of property, equipment and capitalized software (94) (102)
Net cash paid in business combinations 0 (245)
Other, net (9) 19
Net cash (used in) provided by investing activities (328) 82
Financing activities:    
Proceeds from borrowings under credit facility and term loans 0 1,100
Common stock purchases 0 (1,000)
Repayment of credit facility and term loans 0 (360)
Common stock withheld to settle employee tax obligations (15) (37)
Other, net (16) 35
Net cash used in financing activities (31) (262)
Net increase (decrease) in cash, cash equivalents, and restricted cash and cash equivalents 270 (417)
Cash, cash equivalents, and restricted cash and cash equivalents at beginning of period 4,348 4,741
Cash, cash equivalents, and restricted cash and cash equivalents at end of period $ 4,618 $ 4,324