Dispositions and Held for Sale (Notes)

9 Months Ended

Sep. 30, 2024

Discontinued Operations and Disposal Groups [Abstract]

Dispositions and Held for Sale [Text Block]

Dispositions and Held for Sale

During the nine months ended September 30, 2024, the Company completed or initiated various business portfolio and asset disposition activities. The Company recorded a loss of $7.1 billion related to the sale of its Brazil operations, of which $4.1 billion related to the impact of cumulative foreign currency translation losses previously included in accumulated other comprehensive loss, and a loss of $1.2 billion related to the reclassification of the Company’s remaining South American operations as held for sale, of which $876 million related to the impact of cumulative foreign currency translation losses.

The Company also sold other businesses and assets for $1.0 billion in total consideration, with a carrying value of $241 million, and the difference reflected in the Condensed Consolidated Statement of Operations. The sales of the Company’s remaining South American assets are expected to close within a year, subject to regulatory and other customary closing conditions. Assets and liabilities held for sale have been included within prepaid and other current assets and other current liabilities on the Condensed Consolidated Balance Sheet, respectively.

The assets and liabilities of the Brazil and held for sale disposal groups as of the date of the sale and as of September 30, 2024, respectively, were as follows:

(in millions)	Brazil Disposition		Businesses Held for Sale
Assets
Cash and cash equivalents	$	778	$	254
Accounts receivable and other current assets	515		652
Long-term investments	788		36
Property, equipment and capitalized software	1,052		674
Deferred tax assets	1,035		—
Goodwill and other intangible assets	317		450
Other long-term assets	439		253
Remeasurement of assets of businesses held for sale to fair value less cost to sell(1)	—		(1,245)
Total assets	$	4,924	$	1,074
Liabilities
Medical costs payable	$	701	$	200
Accounts payable and other current liabilities	834		395
Other long-term liabilities	136		544
Total liabilities	$	1,671	$	1,139

(1)      Includes the effect of $876 million of cumulative foreign currency translation losses and $54 million of noncontrolling interests.