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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating activities:    
Net income $ 178 $ 198
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 20 25
Deferred income taxes 14 15
Share-based compensation 12 9
Gain on debt repayment 0 (3)
Other, net (3) 6
Changes in operating assets and liabilities:    
Receivables (197) (29)
Prepaid expenses and other current assets (229) 20
Medical claims and benefits payable 127 34
Amounts due government agencies 113 (35)
Accounts payable, accrued liabilities and other 247 (30)
Deferred revenue (206) (4)
Income taxes 60 43
Net cash provided by operating activities 136 249
Investing activities:    
Purchases of investments (578) (185)
Proceeds from sales and maturities of investments 493 366
Purchases of property, equipment and capitalized software (21) (6)
Other, net 3 (4)
Net cash (used in) provided by investing activities (103) 171
Financing activities:    
Common stock purchases (453) 0
Proceeds from borrowings under term loan facility 380 100
Cash paid for partial termination of warrants (30) (103)
Cash paid for partial settlement of conversion option (27) (115)
Cash received for partial settlement of call option 27 115
Repayment of principal amount of convertible senior notes (12) (46)
Other, net (3) 1
Net cash used in financing activities (118) (48)
Net (decrease) increase in cash, cash equivalents, and restricted cash and cash equivalents (85) 372
Cash, cash equivalents, and restricted cash and cash equivalents at beginning of period 2,508 2,926
Cash, cash equivalents, and restricted cash and cash equivalents at end of period 2,423 3,298
Schedule of non-cash investing and financing activities:    
Common stock used for share-based compensation (7) (7)
Details of change in fair value of derivatives, net:    
Change in fair value of derivatives, net 0 0
1.125% Call Option    
Details of change in fair value of derivatives, net:    
Change in fair value of derivatives, net (2) 155
1.125% Conversion Option    
Details of change in fair value of derivatives, net:    
Change in fair value of derivatives, net $ 2 $ (155)