Business Combinations (Notes)

9 Months Ended

Sep. 30, 2023

Business Combination and Asset Acquisition [Abstract]

Business Combination Disclosure

Business Combinations

During the nine months ended September 30, 2023, the Company completed several business combinations for total consideration of $8.4 billion.

Acquired assets (liabilities) at acquisition date were:

(in millions)
Cash and cash equivalents	$	104
Accounts receivable and other current assets	587
Property, equipment and other long-term assets	573
Other intangible assets	1,800
Total identifiable assets acquired	3,064
Medical costs payable	(1)
Accounts payable and other current liabilities	(551)
Other long-term liabilities	(661)
Total identifiable liabilities acquired	(1,213)
Total net identifiable assets	1,851
Goodwill	8,073
Redeemable noncontrolling interests	(121)
Nonredeemable noncontrolling interests	(1,339)
Net assets acquired	$	8,464

The majority of goodwill is not deductible for income tax purposes. The preliminary purchase price allocations for the various business combinations are subject to adjustment as valuation analyses, primarily related to intangible assets and contingent liabilities, are finalized.

The acquisition date fair values and weighted-average useful lives assigned to intangible assets were:

(in millions, except years)	Fair Value		Weighted-Average Useful Life
Acquired finite-lived intangible assets:
Customer-related	$	223	12 years
Trademarks and technology	171		5 years
Other	42		6 years
Total acquired finite-lived intangible assets	436		9 years
Total acquired indefinite-lived intangible assets - operating licenses and certificates	1,364
Total acquired intangible assets	$	1,800

The results of operations and financial condition of acquired entities have been included in the Company’s consolidated results and the results of the corresponding operating segment as of the date of acquisition. Through September 30, 2023, acquired entities’ impact on revenues and net earnings was not material.

Unaudited pro forma revenues and net earnings for the nine months ended September 30, 2023 and 2022, as if the business combinations had occurred on January 1, 2022, were immaterial for both periods.