Intersegment sales and expenses are recorded at fair value and eliminated in consolidation. Members served by our segments often use the same provider networks, enabling us in some instances to obtain more favorable contract terms with providers. Our segments also share indirect costs and assets. As a result, the profitability of each segment is interdependent. We allocate most operating expenses to our segments. Assets and certain corporate income and expenses are not allocated to the segments, including the portion of investment income not supporting segment operations, interest expense on corporate debt, and certain other corporate expenses. These items are managed at a corporate level. These corporate amounts are reported separately from our reportable segments and are included with intersegment eliminations in the tables presenting segment results below.

Our segment results were as follows for the three and six months ended June 30, 2016 and 2015:



	Retail		Group		Healthcare Services		Other Businesses			Eliminations/ Corporate			Consolidated
	(in millions)
Three months ended June 30, 2016
Revenues - external customers
Premiums:
Individual Medicare Advantage	$	8,050	$	—	$	—	$	—		$	—		$	8,050
Group Medicare Advantage	1,085		—		—		—			—			1,085
Medicare stand-alone PDP	1,015		—		—		—			—			1,015
Total Medicare	10,150		—		—		—			—			10,150
Fully-insured	1,130		1,357		—		—			—			2,487
Specialty	66		255		—		—			—			321
Medicaid and other	678		5		—		9			—			692
Total premiums	12,024		1,617		—		9			—			13,650
Services revenue:
Provider	—		13		61		—			—			74
ASO and other	2		176		—		3			—			181
Pharmacy	—		—		7		—			—			7
Total services revenue	2		189		68		3			—			262
Total revenues - external customers	12,026		1,806		68		12			—			13,912
Intersegment revenues
Services	—		23		4,736		—			(4,759		)	—
Products	—		—		1,433		—			(1,433		)	—
Total intersegment revenues	—		23		6,169		—			(6,192		)	—
Investment income	25		4		7		16			43			95
Total revenues	12,051		1,833		6,244		28			(6,149		)	14,007
Operating expenses:
Benefits	10,432		1,274		—		31			(228		)	11,509
Operating costs	1,241		434		5,941		4			(5,894		)	1,726
Depreciation and amortization	58		24		32		—			(25		)	89
Total operating expenses	11,731		1,732		5,973		35			(6,147		)	13,324
Income (loss) from operations	320		101		271		(7		)	(2		)	683
Interest expense	—		—		—		—			47			47
Income (loss) before income taxes	$	320	$	101	$	271	$	(7	)	$	(49	)	$	636



	Retail		Group		Healthcare Services		Other Businesses		Eliminations/ Corporate			Consolidated
	(in millions)
Three months ended June 30, 2015
Revenues - external customers
Premiums:
Individual Medicare Advantage	$	7,434	$	—	$	—	$	—	$	—		$	7,434
Group Medicare Advantage	1,398		—		—		—		—			1,398
Medicare stand-alone PDP	985		—		—		—		—			985
Total Medicare	9,817		—		—		—		—			9,817
Fully-insured	1,113		1,379		—		—		—			2,492
Specialty	66		265		—		—		—			331
Medicaid and other	559		4		—		9		—			572
Total premiums	11,555		1,648		—		9		—			13,212
Services revenue:
Provider	—		11		221		—		—			232
ASO and other	2		163		—		3		—			168
Pharmacy	—		—		7		—		—			7
Total services revenue	2		174		228		3		—			407
Total revenues - external customers	11,557		1,822		228		12		—			13,619
Intersegment revenues
Services	—		22		4,432		—		(4,454		)	—
Products	—		—		1,233		—		(1,233		)	—
Total intersegment revenues	—		22		5,665		—		(5,687		)	—
Investment income	31		6		—		22		54			113
Total revenues	11,588		1,850		5,893		34		(5,633		)	13,732
Operating expenses:
Benefits	10,068		1,341		—		21		(178		)	11,252
Operating costs	1,213		444		5,630		4		(5,474		)	1,817
Depreciation and amortization	47		22		40		—		(19		)	90
Total operating expenses	11,328		1,807		5,670		25		(5,671		)	13,159
Income from operations	260		43		223		9		38			573
Gain on sale of business	—		—		—		—		267			267
Interest expense	—		—		—		—		47			47
Income before income taxes	$	260	$	43	$	223	$	9	$	258		$	793




	Retail		Group		Healthcare Services		Other Businesses			Eliminations/ Corporate			Consolidated
	(in millions)
Six months ended June 30, 2016
Revenues - external customers
Premiums:
Individual Medicare Advantage	$	16,077	$	—	$	—	$	—		$	—		$	16,077
Group Medicare Advantage	2,162		—		—		—			—			2,162
Medicare stand-alone PDP	2,054		—		—		—			—			2,054
Total Medicare	20,293		—		—		—			—			20,293
Fully-insured	2,127		2,694		—		—			—			4,821
Specialty	131		508		—		—			—			639
Medicaid and other	1,308		10		—		19			—			1,337
Total premiums	23,859		3,212		—		19			—			27,090
Services revenue:
Provider	—		26		119		—			—			145
ASO and other	4		353		—		6			—			363
Pharmacy	—		—		14		—			—			14
Total services revenue	4		379		133		6			—			522
Total revenues - external customers	23,863		3,591		133		25			—			27,612
Intersegment revenues
Services	—		44		9,490		—			(9,534		)	—
Products	—		—		2,793		—			(2,793		)	—
Total intersegment revenues	—		44		12,283		—			(12,327		)	—
Investment income	52		9		14		31			89			195
Total revenues	23,915		3,644		12,430		56			(12,238		)	27,807
Operating expenses:
Benefits	20,810		2,467		—		56			(427		)	22,906
Operating costs	2,517		870		11,854		8			(11,755		)	3,494
Depreciation and amortization	114		48		64		—			(49		)	177
Total operating expenses	23,441		3,385		11,918		64			(12,231		)	26,577
Income (loss) from operations	474		259		512		(8		)	(7		)	1,230
Interest expense	—		—		—		—			94			94
Income (loss) before income taxes	$	474	$	259	$	512	$	(8	)	$	(101	)	$	1,136




	Retail		Group		Healthcare Services		Other Businesses		Eliminations/ Corporate			Consolidated
	(in millions)
Six months ended June 30, 2015
Revenues - external customers
Premiums:
Individual Medicare Advantage	$	14,867	$	—	$	—	$	—	$	—		$	14,867
Group Medicare Advantage	2,792		—		—		—		—			2,792
Medicare stand-alone PDP	1,988		—		—		—		—			1,988
Total Medicare	19,647		—		—		—		—			19,647
Fully-insured	2,207		2,763		—		—		—			4,970
Specialty	129		535		—		—		—			664
Medicaid and other	1,150		10		—		19		—			1,179
Total premiums	23,133		3,308		—		19		—			26,460
Services revenue:
Provider	—		20		529		—		—			549
ASO and other	6		323		—		5		—			334
Pharmacy	—		—		14		—		—			14
Total services revenue	6		343		543		5		—			897
Total revenues - external customers	23,139		3,651		543		24		—			27,357
Intersegment revenues
Services	—		44		8,799		—		(8,843		)	—
Products	—		—		2,383		—		(2,383		)	—
Total intersegment revenues	—		44		11,182		—		(11,226		)	—
Investment income	58		11		—		37		102			208
Total revenues	23,197		3,706		11,725		61		(11,124		)	27,565
Operating expenses:
Benefits	20,004		2,567		—		44		(358		)	22,257
Operating costs	2,467		897		11,190		7		(10,799		)	3,762
Depreciation and amortization	91		45		82		—		(35		)	183
Total operating expenses	22,562		3,509		11,272		51		(11,192		)	26,202
Income from operations	635		197		453		10		68			1,363
Gain on sale of business	—		—		—		—		267			267
Interest expense	—		—		—		—		93			93
Income before income taxes	$	635	$	197	$	453	$	10	$	242		$	1,537