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Segment Reporting (Tables)
 6 Months Ended
Jun. 30, 2021
Segment Reporting [Abstract]  
Summarized Financial Information Of Segments
The following is a reconciliation of financial measures of the Company’s segments to the consolidated totals:
In millionsHealth Care
Benefits
Pharmacy 
Services (1)
Retail/
LTC		Corporate/
Other
Intersegment
Eliminations (2)
Consolidated
Totals
Three Months Ended
June 30, 2021
Revenues from external customers$20,367 $35,745 $16,185 $30 $— $72,327 
Intersegment revenues 21 2,569 8,543 — (11,133)— 
Net investment income137 — — 152 — 289 
Total revenues20,525 38,314 24,728 182 (11,133)72,616 
Adjusted operating income (loss)1,614 1,755 2,049 (369)(162)4,887 
June 30, 2020
Revenues from external customers$18,318 $32,623 $14,187 $29 $— $65,157 
Intersegment revenues 23 2,266 7,475 — (9,764)— 
Net investment income127 — — 57 — 184 
Total revenues18,468 34,889 21,662 86 (9,764)65,341 
Adjusted operating income (loss)3,464 1,327 1,057 (343)(177)5,328 
Six Months Ended
June 30, 2021
Revenues from external customers$40,682 $69,058 $31,325 $62 $— $141,127 
Intersegment revenues41 5,577 16,631 — (22,249)— 
Net investment income285 — 46 255 — 586 
Total revenues41,008 74,635 48,002 317 (22,249)141,713 
Adjusted operating income (loss)3,396 3,262 3,443 (672)(337)9,092 
June 30, 2020
Revenues from external customers$37,415 $64,741 $29,544 $50 $— $131,750 
Intersegment revenues31 5,131 14,867 — (20,029)— 
Net investment income220 — — 126 — 346 
Total revenues37,666 69,872 44,411 176 (20,029)132,096 
Adjusted operating income (loss)4,955 2,508 2,959 (628)(353)9,441 
_____________________________________________
(1)Total revenues of the Pharmacy Services segment include approximately $2.8 billion and $2.6 billion of retail co-payments for the three months ended June 30, 2021 and 2020, respectively, and $6.2 billion and $6.0 billion of retail co-payments for the six months ended June 30, 2021 and 2020, respectively.
(2)Intersegment revenue eliminations relate to intersegment revenue generating activities that occur between the Health Care Benefits segment, the Pharmacy Services segment, and/or the Retail/LTC segment. Intersegment adjusted operating income eliminations occur when members of Pharmacy Services Segment clients (“PSS members”) enrolled in Maintenance Choice® elect to pick up maintenance prescriptions at one of the Company’s retail pharmacies instead of receiving them through the mail. When this occurs, both the Pharmacy Services and Retail/LTC segments record the adjusted operating income on a stand-alone basis.
Reconciliation of Operating Earnings to Net Income
The following are reconciliations of consolidated operating income to adjusted operating income for the three and six months ended June 30, 2021 and 2020:
Three Months Ended
June 30,		Six Months Ended
June 30,
In millions2021202020212020
Operating income (GAAP measure)$4,326 $4,680 $7,903 $8,138 
Amortization of intangible assets (1)
582 578 1,169 1,164 
Acquisition-related integration costs (2)
40 70 81 139 
Acquisition purchase price adjustment outside of measurement period (3)
(61)— (61)— 
Adjusted operating income$4,887 $5,328 $9,092 $9,441 
_____________________________________________
(1)The Company’s acquisition activities have resulted in the recognition of intangible assets as required under the acquisition method of accounting which consist primarily of trademarks, customer contracts/relationships, covenants not to compete, technology, provider networks and value of business acquired. Definite-lived intangible assets are amortized over their estimated useful lives and are tested for impairment when events indicate that the carrying value may not be recoverable. The amortization of intangible assets is reflected in the Company’s unaudited GAAP condensed consolidated statements of operations in operating expenses within each segment. Although intangible assets contribute to the Company’s revenue generation, the amortization of intangible assets does not directly relate to the underwriting of the Company’s insurance products, the services performed for the Company’s customers or the sale of the Company’s products or services. Additionally, intangible asset amortization expense typically fluctuates based on the size and timing of the Company’s acquisition activity. Accordingly, the Company believes excluding the amortization of intangible assets enhances the Company’s and investors’ ability to compare the Company’s past financial performance with its current performance and to analyze underlying business performance and trends. Intangible asset amortization excluded from the related non-GAAP financial measure represents the entire amount recorded within the Company’s GAAP financial statements, and the revenue generated by the associated intangible assets has not been excluded from the related non-GAAP financial measure. Intangible asset amortization is excluded from the related non-GAAP financial measure because the amortization, unlike the related revenue, is not affected by operations of any particular period unless an intangible asset becomes impaired or the estimated useful life of an intangible asset is revised.
(2)During the three and six months ended June 30, 2021 and 2020, acquisition-related integration costs relate to the acquisition of Aetna. The acquisition-related integration costs are reflected in the Company’s unaudited GAAP condensed consolidated statements of operations in operating expenses within the Corporate/Other segment.
(3)In June 2021, the Company received $61 million related to a purchase price working capital adjustment for an acquisition completed during the first quarter of 2020. The resolution of this matter occurred subsequent to the acquisition accounting measurement period and is reflected in the Company’s unaudited GAAP condensed consolidated statements of operations for the three and six months ended June 30, 2021 as a reduction of operating expenses within the Health Care Benefits segment.