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We report reinsurance premiums as a reduction to premium revenue, while related reinsurance recoveries are reported as a reduction to medical care costs. In certain cases, we participate in state-run reinsurance programs for which no reinsurance premium is paid. Reinsurance premiums amounted to $ 11 million, $ 2 million, and $ 2 million for the years ended December 31, 2023, 2022, and 2021, respectively. Reinsurance recoveries amounted to $ 21 million, $ 35 million, and $ 33 million for the years ended December 31, 2023, 2022, and 2021, respectively. Reinsurance recoverable of $ 28 million, and $ 27 million, as of December 31, 2023, and 2022, respectively, is included in “Receivables” in the accompanying consolidated balance sheets. | text | 28 | monetaryItemType | text: <entity> 28 </entity> <entity type> monetaryItemType </entity type> <context> We report reinsurance premiums as a reduction to premium revenue, while related reinsurance recoveries are reported as a reduction to medical care costs. In certain cases, we participate in state-run reinsurance programs for which no reinsurance premium is paid. Reinsurance premiums amounted to $ 11 million, $ 2 million, and $ 2 million for the years ended December 31, 2023, 2022, and 2021, respectively. Reinsurance recoveries amounted to $ 21 million, $ 35 million, and $ 33 million for the years ended December 31, 2023, 2022, and 2021, respectively. Reinsurance recoverable of $ 28 million, and $ 27 million, as of December 31, 2023, and 2022, respectively, is included in “Receivables” in the accompanying consolidated balance sheets. </context> | us-gaap:ReinsuranceRecoverableForUnpaidClaimsAndClaimsAdjustments |
We report reinsurance premiums as a reduction to premium revenue, while related reinsurance recoveries are reported as a reduction to medical care costs. In certain cases, we participate in state-run reinsurance programs for which no reinsurance premium is paid. Reinsurance premiums amounted to $ 11 million, $ 2 million, and $ 2 million for the years ended December 31, 2023, 2022, and 2021, respectively. Reinsurance recoveries amounted to $ 21 million, $ 35 million, and $ 33 million for the years ended December 31, 2023, 2022, and 2021, respectively. Reinsurance recoverable of $ 28 million, and $ 27 million, as of December 31, 2023, and 2022, respectively, is included in “Receivables” in the accompanying consolidated balance sheets. | text | 27 | monetaryItemType | text: <entity> 27 </entity> <entity type> monetaryItemType </entity type> <context> We report reinsurance premiums as a reduction to premium revenue, while related reinsurance recoveries are reported as a reduction to medical care costs. In certain cases, we participate in state-run reinsurance programs for which no reinsurance premium is paid. Reinsurance premiums amounted to $ 11 million, $ 2 million, and $ 2 million for the years ended December 31, 2023, 2022, and 2021, respectively. Reinsurance recoveries amounted to $ 21 million, $ 35 million, and $ 33 million for the years ended December 31, 2023, 2022, and 2021, respectively. Reinsurance recoverable of $ 28 million, and $ 27 million, as of December 31, 2023, and 2022, respectively, is included in “Receivables” in the accompanying consolidated balance sheets. </context> | us-gaap:ReinsuranceRecoverableForUnpaidClaimsAndClaimsAdjustments |
In 2023, we closed on one business combination in the Medicaid and Medicare segments, consistent with our growth strategy. For this transaction, we applied the acquisition method of accounting, where the total purchase price was allocated to the tangible and intangible assets acquired and liabilities assumed, based on their fair values as of the acquisition date. The pro forma effects of this acquisition for prior periods were not material to our consolidated results of operations. Costs to complete acquisitions amounted to $ 4 million in the aggregate for the year ended December 31, 2023, and were recorded as “General and administrative expenses” in the accompanying consolidated statements of income. | text | 4 | monetaryItemType | text: <entity> 4 </entity> <entity type> monetaryItemType </entity type> <context> In 2023, we closed on one business combination in the Medicaid and Medicare segments, consistent with our growth strategy. For this transaction, we applied the acquisition method of accounting, where the total purchase price was allocated to the tangible and intangible assets acquired and liabilities assumed, based on their fair values as of the acquisition date. The pro forma effects of this acquisition for prior periods were not material to our consolidated results of operations. Costs to complete acquisitions amounted to $ 4 million in the aggregate for the year ended December 31, 2023, and were recorded as “General and administrative expenses” in the accompanying consolidated statements of income. </context> | us-gaap:AcquisitionCosts |
On September 1, 2023, we closed on our acquisition of My Choice Wisconsin for preliminary purchase consideration of approximately $ 74 million. Finalization of purchase price adjustments, as provided in the definitive asset purchase agreement governing the transaction, is expected to occur in the first half of 2024. | text | 74 | monetaryItemType | text: <entity> 74 </entity> <entity type> monetaryItemType </entity type> <context> On September 1, 2023, we closed on our acquisition of My Choice Wisconsin for preliminary purchase consideration of approximately $ 74 million. Finalization of purchase price adjustments, as provided in the definitive asset purchase agreement governing the transaction, is expected to occur in the first half of 2024. </context> | us-gaap:BusinessCombinationConsiderationTransferred1 |
Goodwill is calculated as the excess of the consideration transferred over the net assets recognized and represents the estimated future economic benefits arising from other assets acquired that could not be individually identified and separately recognized. Such assets include synergies we expect to achieve as a result of the transaction, such as the use of our existing infrastructure to support the added membership, and future economic benefits arising from the assembled workforce. We allocated goodwill in the amounts of $ 95 million to the Medicaid segment and $ 31 million to the Medicare segment. The goodwill is entirely deductible for income tax purposes. The following table summarizes the provisional fair values assigned to assets acquired and liabilities assumed, in millions. | text | 95 | monetaryItemType | text: <entity> 95 </entity> <entity type> monetaryItemType </entity type> <context> Goodwill is calculated as the excess of the consideration transferred over the net assets recognized and represents the estimated future economic benefits arising from other assets acquired that could not be individually identified and separately recognized. Such assets include synergies we expect to achieve as a result of the transaction, such as the use of our existing infrastructure to support the added membership, and future economic benefits arising from the assembled workforce. We allocated goodwill in the amounts of $ 95 million to the Medicaid segment and $ 31 million to the Medicare segment. The goodwill is entirely deductible for income tax purposes. The following table summarizes the provisional fair values assigned to assets acquired and liabilities assumed, in millions. </context> | us-gaap:Goodwill |
Goodwill is calculated as the excess of the consideration transferred over the net assets recognized and represents the estimated future economic benefits arising from other assets acquired that could not be individually identified and separately recognized. Such assets include synergies we expect to achieve as a result of the transaction, such as the use of our existing infrastructure to support the added membership, and future economic benefits arising from the assembled workforce. We allocated goodwill in the amounts of $ 95 million to the Medicaid segment and $ 31 million to the Medicare segment. The goodwill is entirely deductible for income tax purposes. The following table summarizes the provisional fair values assigned to assets acquired and liabilities assumed, in millions. | text | 31 | monetaryItemType | text: <entity> 31 </entity> <entity type> monetaryItemType </entity type> <context> Goodwill is calculated as the excess of the consideration transferred over the net assets recognized and represents the estimated future economic benefits arising from other assets acquired that could not be individually identified and separately recognized. Such assets include synergies we expect to achieve as a result of the transaction, such as the use of our existing infrastructure to support the added membership, and future economic benefits arising from the assembled workforce. We allocated goodwill in the amounts of $ 95 million to the Medicaid segment and $ 31 million to the Medicare segment. The goodwill is entirely deductible for income tax purposes. The following table summarizes the provisional fair values assigned to assets acquired and liabilities assumed, in millions. </context> | us-gaap:Goodwill |
The net changes in fair value of Level 3 financial instruments are reported in “Other” operating expenses in our consolidated statements of income. In the year ended December 31, 2022, we recognized a loss of $ 4 million, primarily for the increase in the fair value of the contingent consideration liability described below. | text | 4 | monetaryItemType | text: <entity> 4 </entity> <entity type> monetaryItemType </entity type> <context> The net changes in fair value of Level 3 financial instruments are reported in “Other” operating expenses in our consolidated statements of income. In the year ended December 31, 2022, we recognized a loss of $ 4 million, primarily for the increase in the fair value of the contingent consideration liability described below. </context> | us-gaap:GainLossOnFairValueHedgesRecognizedInEarnings |
In the years ended December 31, 2023, 2022, and 2021, maturities and redemptions of available-for-sale securities amounted to $ 513 million, $ 1,069 million, and $ 948 million, respectively, and sales amounted to $ 259 million, $ 329 million, and $ 381 million, respectively. Gross realized gains and losses from sales of available-for-sale securities are calculated under the specific identification method and are included in investment income. Gross realized investment gains amounted to $ 1 million, $ 1 million and $ 10 million in the years ended December 31, 2023, 2022 and 2021, respectively, and were reclassified into earnings from other comprehensive income on a net-of-tax basis. Gross realized investment losses amounted to $ 11 million and $ 7 million in the years ended December 31, 2023 and 2022, respectively, and were reclassified into earnings from other comprehensive income on a net-of-tax basis. Gross realized investment losses were insignificant in the year ended December 31, 2021. | text | 513 | monetaryItemType | text: <entity> 513 </entity> <entity type> monetaryItemType </entity type> <context> In the years ended December 31, 2023, 2022, and 2021, maturities and redemptions of available-for-sale securities amounted to $ 513 million, $ 1,069 million, and $ 948 million, respectively, and sales amounted to $ 259 million, $ 329 million, and $ 381 million, respectively. Gross realized gains and losses from sales of available-for-sale securities are calculated under the specific identification method and are included in investment income. Gross realized investment gains amounted to $ 1 million, $ 1 million and $ 10 million in the years ended December 31, 2023, 2022 and 2021, respectively, and were reclassified into earnings from other comprehensive income on a net-of-tax basis. Gross realized investment losses amounted to $ 11 million and $ 7 million in the years ended December 31, 2023 and 2022, respectively, and were reclassified into earnings from other comprehensive income on a net-of-tax basis. Gross realized investment losses were insignificant in the year ended December 31, 2021. </context> | us-gaap:ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities |
In the years ended December 31, 2023, 2022, and 2021, maturities and redemptions of available-for-sale securities amounted to $ 513 million, $ 1,069 million, and $ 948 million, respectively, and sales amounted to $ 259 million, $ 329 million, and $ 381 million, respectively. Gross realized gains and losses from sales of available-for-sale securities are calculated under the specific identification method and are included in investment income. Gross realized investment gains amounted to $ 1 million, $ 1 million and $ 10 million in the years ended December 31, 2023, 2022 and 2021, respectively, and were reclassified into earnings from other comprehensive income on a net-of-tax basis. Gross realized investment losses amounted to $ 11 million and $ 7 million in the years ended December 31, 2023 and 2022, respectively, and were reclassified into earnings from other comprehensive income on a net-of-tax basis. Gross realized investment losses were insignificant in the year ended December 31, 2021. | text | 1069 | monetaryItemType | text: <entity> 1069 </entity> <entity type> monetaryItemType </entity type> <context> In the years ended December 31, 2023, 2022, and 2021, maturities and redemptions of available-for-sale securities amounted to $ 513 million, $ 1,069 million, and $ 948 million, respectively, and sales amounted to $ 259 million, $ 329 million, and $ 381 million, respectively. Gross realized gains and losses from sales of available-for-sale securities are calculated under the specific identification method and are included in investment income. Gross realized investment gains amounted to $ 1 million, $ 1 million and $ 10 million in the years ended December 31, 2023, 2022 and 2021, respectively, and were reclassified into earnings from other comprehensive income on a net-of-tax basis. Gross realized investment losses amounted to $ 11 million and $ 7 million in the years ended December 31, 2023 and 2022, respectively, and were reclassified into earnings from other comprehensive income on a net-of-tax basis. Gross realized investment losses were insignificant in the year ended December 31, 2021. </context> | us-gaap:ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities |
In the years ended December 31, 2023, 2022, and 2021, maturities and redemptions of available-for-sale securities amounted to $ 513 million, $ 1,069 million, and $ 948 million, respectively, and sales amounted to $ 259 million, $ 329 million, and $ 381 million, respectively. Gross realized gains and losses from sales of available-for-sale securities are calculated under the specific identification method and are included in investment income. Gross realized investment gains amounted to $ 1 million, $ 1 million and $ 10 million in the years ended December 31, 2023, 2022 and 2021, respectively, and were reclassified into earnings from other comprehensive income on a net-of-tax basis. Gross realized investment losses amounted to $ 11 million and $ 7 million in the years ended December 31, 2023 and 2022, respectively, and were reclassified into earnings from other comprehensive income on a net-of-tax basis. Gross realized investment losses were insignificant in the year ended December 31, 2021. | text | 948 | monetaryItemType | text: <entity> 948 </entity> <entity type> monetaryItemType </entity type> <context> In the years ended December 31, 2023, 2022, and 2021, maturities and redemptions of available-for-sale securities amounted to $ 513 million, $ 1,069 million, and $ 948 million, respectively, and sales amounted to $ 259 million, $ 329 million, and $ 381 million, respectively. Gross realized gains and losses from sales of available-for-sale securities are calculated under the specific identification method and are included in investment income. Gross realized investment gains amounted to $ 1 million, $ 1 million and $ 10 million in the years ended December 31, 2023, 2022 and 2021, respectively, and were reclassified into earnings from other comprehensive income on a net-of-tax basis. Gross realized investment losses amounted to $ 11 million and $ 7 million in the years ended December 31, 2023 and 2022, respectively, and were reclassified into earnings from other comprehensive income on a net-of-tax basis. Gross realized investment losses were insignificant in the year ended December 31, 2021. </context> | us-gaap:ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities |
In the years ended December 31, 2023, 2022, and 2021, maturities and redemptions of available-for-sale securities amounted to $ 513 million, $ 1,069 million, and $ 948 million, respectively, and sales amounted to $ 259 million, $ 329 million, and $ 381 million, respectively. Gross realized gains and losses from sales of available-for-sale securities are calculated under the specific identification method and are included in investment income. Gross realized investment gains amounted to $ 1 million, $ 1 million and $ 10 million in the years ended December 31, 2023, 2022 and 2021, respectively, and were reclassified into earnings from other comprehensive income on a net-of-tax basis. Gross realized investment losses amounted to $ 11 million and $ 7 million in the years ended December 31, 2023 and 2022, respectively, and were reclassified into earnings from other comprehensive income on a net-of-tax basis. Gross realized investment losses were insignificant in the year ended December 31, 2021. | text | 259 | monetaryItemType | text: <entity> 259 </entity> <entity type> monetaryItemType </entity type> <context> In the years ended December 31, 2023, 2022, and 2021, maturities and redemptions of available-for-sale securities amounted to $ 513 million, $ 1,069 million, and $ 948 million, respectively, and sales amounted to $ 259 million, $ 329 million, and $ 381 million, respectively. Gross realized gains and losses from sales of available-for-sale securities are calculated under the specific identification method and are included in investment income. Gross realized investment gains amounted to $ 1 million, $ 1 million and $ 10 million in the years ended December 31, 2023, 2022 and 2021, respectively, and were reclassified into earnings from other comprehensive income on a net-of-tax basis. Gross realized investment losses amounted to $ 11 million and $ 7 million in the years ended December 31, 2023 and 2022, respectively, and were reclassified into earnings from other comprehensive income on a net-of-tax basis. Gross realized investment losses were insignificant in the year ended December 31, 2021. </context> | us-gaap:ProceedsFromSaleOfAvailableForSaleSecuritiesDebt |
In the years ended December 31, 2023, 2022, and 2021, maturities and redemptions of available-for-sale securities amounted to $ 513 million, $ 1,069 million, and $ 948 million, respectively, and sales amounted to $ 259 million, $ 329 million, and $ 381 million, respectively. Gross realized gains and losses from sales of available-for-sale securities are calculated under the specific identification method and are included in investment income. Gross realized investment gains amounted to $ 1 million, $ 1 million and $ 10 million in the years ended December 31, 2023, 2022 and 2021, respectively, and were reclassified into earnings from other comprehensive income on a net-of-tax basis. Gross realized investment losses amounted to $ 11 million and $ 7 million in the years ended December 31, 2023 and 2022, respectively, and were reclassified into earnings from other comprehensive income on a net-of-tax basis. Gross realized investment losses were insignificant in the year ended December 31, 2021. | text | 329 | monetaryItemType | text: <entity> 329 </entity> <entity type> monetaryItemType </entity type> <context> In the years ended December 31, 2023, 2022, and 2021, maturities and redemptions of available-for-sale securities amounted to $ 513 million, $ 1,069 million, and $ 948 million, respectively, and sales amounted to $ 259 million, $ 329 million, and $ 381 million, respectively. Gross realized gains and losses from sales of available-for-sale securities are calculated under the specific identification method and are included in investment income. Gross realized investment gains amounted to $ 1 million, $ 1 million and $ 10 million in the years ended December 31, 2023, 2022 and 2021, respectively, and were reclassified into earnings from other comprehensive income on a net-of-tax basis. Gross realized investment losses amounted to $ 11 million and $ 7 million in the years ended December 31, 2023 and 2022, respectively, and were reclassified into earnings from other comprehensive income on a net-of-tax basis. Gross realized investment losses were insignificant in the year ended December 31, 2021. </context> | us-gaap:ProceedsFromSaleOfAvailableForSaleSecuritiesDebt |
In the years ended December 31, 2023, 2022, and 2021, maturities and redemptions of available-for-sale securities amounted to $ 513 million, $ 1,069 million, and $ 948 million, respectively, and sales amounted to $ 259 million, $ 329 million, and $ 381 million, respectively. Gross realized gains and losses from sales of available-for-sale securities are calculated under the specific identification method and are included in investment income. Gross realized investment gains amounted to $ 1 million, $ 1 million and $ 10 million in the years ended December 31, 2023, 2022 and 2021, respectively, and were reclassified into earnings from other comprehensive income on a net-of-tax basis. Gross realized investment losses amounted to $ 11 million and $ 7 million in the years ended December 31, 2023 and 2022, respectively, and were reclassified into earnings from other comprehensive income on a net-of-tax basis. Gross realized investment losses were insignificant in the year ended December 31, 2021. | text | 381 | monetaryItemType | text: <entity> 381 </entity> <entity type> monetaryItemType </entity type> <context> In the years ended December 31, 2023, 2022, and 2021, maturities and redemptions of available-for-sale securities amounted to $ 513 million, $ 1,069 million, and $ 948 million, respectively, and sales amounted to $ 259 million, $ 329 million, and $ 381 million, respectively. Gross realized gains and losses from sales of available-for-sale securities are calculated under the specific identification method and are included in investment income. Gross realized investment gains amounted to $ 1 million, $ 1 million and $ 10 million in the years ended December 31, 2023, 2022 and 2021, respectively, and were reclassified into earnings from other comprehensive income on a net-of-tax basis. Gross realized investment losses amounted to $ 11 million and $ 7 million in the years ended December 31, 2023 and 2022, respectively, and were reclassified into earnings from other comprehensive income on a net-of-tax basis. Gross realized investment losses were insignificant in the year ended December 31, 2021. </context> | us-gaap:ProceedsFromSaleOfAvailableForSaleSecuritiesDebt |
In the years ended December 31, 2023, 2022, and 2021, maturities and redemptions of available-for-sale securities amounted to $ 513 million, $ 1,069 million, and $ 948 million, respectively, and sales amounted to $ 259 million, $ 329 million, and $ 381 million, respectively. Gross realized gains and losses from sales of available-for-sale securities are calculated under the specific identification method and are included in investment income. Gross realized investment gains amounted to $ 1 million, $ 1 million and $ 10 million in the years ended December 31, 2023, 2022 and 2021, respectively, and were reclassified into earnings from other comprehensive income on a net-of-tax basis. Gross realized investment losses amounted to $ 11 million and $ 7 million in the years ended December 31, 2023 and 2022, respectively, and were reclassified into earnings from other comprehensive income on a net-of-tax basis. Gross realized investment losses were insignificant in the year ended December 31, 2021. | text | 1 | monetaryItemType | text: <entity> 1 </entity> <entity type> monetaryItemType </entity type> <context> In the years ended December 31, 2023, 2022, and 2021, maturities and redemptions of available-for-sale securities amounted to $ 513 million, $ 1,069 million, and $ 948 million, respectively, and sales amounted to $ 259 million, $ 329 million, and $ 381 million, respectively. Gross realized gains and losses from sales of available-for-sale securities are calculated under the specific identification method and are included in investment income. Gross realized investment gains amounted to $ 1 million, $ 1 million and $ 10 million in the years ended December 31, 2023, 2022 and 2021, respectively, and were reclassified into earnings from other comprehensive income on a net-of-tax basis. Gross realized investment losses amounted to $ 11 million and $ 7 million in the years ended December 31, 2023 and 2022, respectively, and were reclassified into earnings from other comprehensive income on a net-of-tax basis. Gross realized investment losses were insignificant in the year ended December 31, 2021. </context> | us-gaap:DebtSecuritiesAvailableForSaleRealizedGain |
In the years ended December 31, 2023, 2022, and 2021, maturities and redemptions of available-for-sale securities amounted to $ 513 million, $ 1,069 million, and $ 948 million, respectively, and sales amounted to $ 259 million, $ 329 million, and $ 381 million, respectively. Gross realized gains and losses from sales of available-for-sale securities are calculated under the specific identification method and are included in investment income. Gross realized investment gains amounted to $ 1 million, $ 1 million and $ 10 million in the years ended December 31, 2023, 2022 and 2021, respectively, and were reclassified into earnings from other comprehensive income on a net-of-tax basis. Gross realized investment losses amounted to $ 11 million and $ 7 million in the years ended December 31, 2023 and 2022, respectively, and were reclassified into earnings from other comprehensive income on a net-of-tax basis. Gross realized investment losses were insignificant in the year ended December 31, 2021. | text | 10 | monetaryItemType | text: <entity> 10 </entity> <entity type> monetaryItemType </entity type> <context> In the years ended December 31, 2023, 2022, and 2021, maturities and redemptions of available-for-sale securities amounted to $ 513 million, $ 1,069 million, and $ 948 million, respectively, and sales amounted to $ 259 million, $ 329 million, and $ 381 million, respectively. Gross realized gains and losses from sales of available-for-sale securities are calculated under the specific identification method and are included in investment income. Gross realized investment gains amounted to $ 1 million, $ 1 million and $ 10 million in the years ended December 31, 2023, 2022 and 2021, respectively, and were reclassified into earnings from other comprehensive income on a net-of-tax basis. Gross realized investment losses amounted to $ 11 million and $ 7 million in the years ended December 31, 2023 and 2022, respectively, and were reclassified into earnings from other comprehensive income on a net-of-tax basis. Gross realized investment losses were insignificant in the year ended December 31, 2021. </context> | us-gaap:DebtSecuritiesAvailableForSaleRealizedGain |
In the years ended December 31, 2023, 2022, and 2021, maturities and redemptions of available-for-sale securities amounted to $ 513 million, $ 1,069 million, and $ 948 million, respectively, and sales amounted to $ 259 million, $ 329 million, and $ 381 million, respectively. Gross realized gains and losses from sales of available-for-sale securities are calculated under the specific identification method and are included in investment income. Gross realized investment gains amounted to $ 1 million, $ 1 million and $ 10 million in the years ended December 31, 2023, 2022 and 2021, respectively, and were reclassified into earnings from other comprehensive income on a net-of-tax basis. Gross realized investment losses amounted to $ 11 million and $ 7 million in the years ended December 31, 2023 and 2022, respectively, and were reclassified into earnings from other comprehensive income on a net-of-tax basis. Gross realized investment losses were insignificant in the year ended December 31, 2021. | text | 11 | monetaryItemType | text: <entity> 11 </entity> <entity type> monetaryItemType </entity type> <context> In the years ended December 31, 2023, 2022, and 2021, maturities and redemptions of available-for-sale securities amounted to $ 513 million, $ 1,069 million, and $ 948 million, respectively, and sales amounted to $ 259 million, $ 329 million, and $ 381 million, respectively. Gross realized gains and losses from sales of available-for-sale securities are calculated under the specific identification method and are included in investment income. Gross realized investment gains amounted to $ 1 million, $ 1 million and $ 10 million in the years ended December 31, 2023, 2022 and 2021, respectively, and were reclassified into earnings from other comprehensive income on a net-of-tax basis. Gross realized investment losses amounted to $ 11 million and $ 7 million in the years ended December 31, 2023 and 2022, respectively, and were reclassified into earnings from other comprehensive income on a net-of-tax basis. Gross realized investment losses were insignificant in the year ended December 31, 2021. </context> | us-gaap:DebtSecuritiesAvailableForSaleRealizedLoss |
In the years ended December 31, 2023, 2022, and 2021, maturities and redemptions of available-for-sale securities amounted to $ 513 million, $ 1,069 million, and $ 948 million, respectively, and sales amounted to $ 259 million, $ 329 million, and $ 381 million, respectively. Gross realized gains and losses from sales of available-for-sale securities are calculated under the specific identification method and are included in investment income. Gross realized investment gains amounted to $ 1 million, $ 1 million and $ 10 million in the years ended December 31, 2023, 2022 and 2021, respectively, and were reclassified into earnings from other comprehensive income on a net-of-tax basis. Gross realized investment losses amounted to $ 11 million and $ 7 million in the years ended December 31, 2023 and 2022, respectively, and were reclassified into earnings from other comprehensive income on a net-of-tax basis. Gross realized investment losses were insignificant in the year ended December 31, 2021. | text | 7 | monetaryItemType | text: <entity> 7 </entity> <entity type> monetaryItemType </entity type> <context> In the years ended December 31, 2023, 2022, and 2021, maturities and redemptions of available-for-sale securities amounted to $ 513 million, $ 1,069 million, and $ 948 million, respectively, and sales amounted to $ 259 million, $ 329 million, and $ 381 million, respectively. Gross realized gains and losses from sales of available-for-sale securities are calculated under the specific identification method and are included in investment income. Gross realized investment gains amounted to $ 1 million, $ 1 million and $ 10 million in the years ended December 31, 2023, 2022 and 2021, respectively, and were reclassified into earnings from other comprehensive income on a net-of-tax basis. Gross realized investment losses amounted to $ 11 million and $ 7 million in the years ended December 31, 2023 and 2022, respectively, and were reclassified into earnings from other comprehensive income on a net-of-tax basis. Gross realized investment losses were insignificant in the year ended December 31, 2021. </context> | us-gaap:DebtSecuritiesAvailableForSaleRealizedLoss |
We have the ability to hold these restricted investments until maturity, and as a result, we would not expect the value of these investments to decline significantly due to a sudden change in market interest rates. Our held-to-maturity restricted investments are carried at amortized cost, which approximates fair value, of which $ 190 million will mature in one year or less, $ 65 million will mature in one through five years, and $ 6 million will mature after five years. | text | 190 | monetaryItemType | text: <entity> 190 </entity> <entity type> monetaryItemType </entity type> <context> We have the ability to hold these restricted investments until maturity, and as a result, we would not expect the value of these investments to decline significantly due to a sudden change in market interest rates. Our held-to-maturity restricted investments are carried at amortized cost, which approximates fair value, of which $ 190 million will mature in one year or less, $ 65 million will mature in one through five years, and $ 6 million will mature after five years. </context> | us-gaap:HeldToMaturitySecuritiesDebtMaturitiesWithinOneYearNetCarryingAmount |
We have the ability to hold these restricted investments until maturity, and as a result, we would not expect the value of these investments to decline significantly due to a sudden change in market interest rates. Our held-to-maturity restricted investments are carried at amortized cost, which approximates fair value, of which $ 190 million will mature in one year or less, $ 65 million will mature in one through five years, and $ 6 million will mature after five years. | text | 65 | monetaryItemType | text: <entity> 65 </entity> <entity type> monetaryItemType </entity type> <context> We have the ability to hold these restricted investments until maturity, and as a result, we would not expect the value of these investments to decline significantly due to a sudden change in market interest rates. Our held-to-maturity restricted investments are carried at amortized cost, which approximates fair value, of which $ 190 million will mature in one year or less, $ 65 million will mature in one through five years, and $ 6 million will mature after five years. </context> | us-gaap:HeldToMaturitySecuritiesDebtMaturitiesAfterOneThroughFiveYearsNetCarryingAmount |
We have the ability to hold these restricted investments until maturity, and as a result, we would not expect the value of these investments to decline significantly due to a sudden change in market interest rates. Our held-to-maturity restricted investments are carried at amortized cost, which approximates fair value, of which $ 190 million will mature in one year or less, $ 65 million will mature in one through five years, and $ 6 million will mature after five years. | text | 6 | monetaryItemType | text: <entity> 6 </entity> <entity type> monetaryItemType </entity type> <context> We have the ability to hold these restricted investments until maturity, and as a result, we would not expect the value of these investments to decline significantly due to a sudden change in market interest rates. Our held-to-maturity restricted investments are carried at amortized cost, which approximates fair value, of which $ 190 million will mature in one year or less, $ 65 million will mature in one through five years, and $ 6 million will mature after five years. </context> | us-gaap:HeldToMaturitySecuritiesDebtMaturitiesAfterFiveThroughTenYearsNetCarryingAmount |
The Company recognized an impairment on property and equipment of $ 16 million associated with our reduction in leased space used in our business operations in the year ended December 31, 2022. | text | 16 | monetaryItemType | text: <entity> 16 </entity> <entity type> monetaryItemType </entity type> <context> The Company recognized an impairment on property and equipment of $ 16 million associated with our reduction in leased space used in our business operations in the year ended December 31, 2022. </context> | us-gaap:TangibleAssetImpairmentCharges |
In the year ended December 31, 2022, the Company recognized $ 192 million of ROU asset impairments associated with our reduction in leased space used in our business operations to accommodate our move to a remote work environment. | text | 192 | monetaryItemType | text: <entity> 192 </entity> <entity type> monetaryItemType </entity type> <context> In the year ended December 31, 2022, the Company recognized $ 192 million of ROU asset impairments associated with our reduction in leased space used in our business operations to accommodate our move to a remote work environment. </context> | us-gaap:OperatingLeaseImpairmentLoss |
As of December 31, 2023, the weighted-average discount rate used to compute the present value of lease payments was 4.8 % for operating lease liabilities, and 6.4 % for finance lease liabilities. The components of lease expense for the years ended December 31, 2023, 2022, and 2021 are presented in the following table. | text | 4.8 | percentItemType | text: <entity> 4.8 </entity> <entity type> percentItemType </entity type> <context> As of December 31, 2023, the weighted-average discount rate used to compute the present value of lease payments was 4.8 % for operating lease liabilities, and 6.4 % for finance lease liabilities. The components of lease expense for the years ended December 31, 2023, 2022, and 2021 are presented in the following table. </context> | us-gaap:OperatingLeaseWeightedAverageDiscountRatePercent |
As of December 31, 2023, the weighted-average discount rate used to compute the present value of lease payments was 4.8 % for operating lease liabilities, and 6.4 % for finance lease liabilities. The components of lease expense for the years ended December 31, 2023, 2022, and 2021 are presented in the following table. | text | 6.4 | percentItemType | text: <entity> 6.4 </entity> <entity type> percentItemType </entity type> <context> As of December 31, 2023, the weighted-average discount rate used to compute the present value of lease payments was 4.8 % for operating lease liabilities, and 6.4 % for finance lease liabilities. The components of lease expense for the years ended December 31, 2023, 2022, and 2021 are presented in the following table. </context> | us-gaap:FinanceLeaseWeightedAverageDiscountRatePercent |
Our estimates of medical claims and benefits payable recorded at December 31, 2023, 2022 and 2021 developed favorably by approximately $ 427 million, $ 284 million and $ 239 million in 2023, 2022 and 2021, respectively. The favorable prior year development recognized in 2023 was primarily due to lower than expected utilization of medical services by our members and improved operating performance, mainly in the Medicaid segment. Consequently, the ultimate costs recognized in 2023, as claims payments were processed, were lower than our estimates in 2022. | text | 427 | monetaryItemType | text: <entity> 427 </entity> <entity type> monetaryItemType </entity type> <context> Our estimates of medical claims and benefits payable recorded at December 31, 2023, 2022 and 2021 developed favorably by approximately $ 427 million, $ 284 million and $ 239 million in 2023, 2022 and 2021, respectively. The favorable prior year development recognized in 2023 was primarily due to lower than expected utilization of medical services by our members and improved operating performance, mainly in the Medicaid segment. Consequently, the ultimate costs recognized in 2023, as claims payments were processed, were lower than our estimates in 2022. </context> | us-gaap:SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPriorYearClaimsAndClaimsAdjustmentExpense |
Our estimates of medical claims and benefits payable recorded at December 31, 2023, 2022 and 2021 developed favorably by approximately $ 427 million, $ 284 million and $ 239 million in 2023, 2022 and 2021, respectively. The favorable prior year development recognized in 2023 was primarily due to lower than expected utilization of medical services by our members and improved operating performance, mainly in the Medicaid segment. Consequently, the ultimate costs recognized in 2023, as claims payments were processed, were lower than our estimates in 2022. | text | 284 | monetaryItemType | text: <entity> 284 </entity> <entity type> monetaryItemType </entity type> <context> Our estimates of medical claims and benefits payable recorded at December 31, 2023, 2022 and 2021 developed favorably by approximately $ 427 million, $ 284 million and $ 239 million in 2023, 2022 and 2021, respectively. The favorable prior year development recognized in 2023 was primarily due to lower than expected utilization of medical services by our members and improved operating performance, mainly in the Medicaid segment. Consequently, the ultimate costs recognized in 2023, as claims payments were processed, were lower than our estimates in 2022. </context> | us-gaap:SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPriorYearClaimsAndClaimsAdjustmentExpense |
Our estimates of medical claims and benefits payable recorded at December 31, 2023, 2022 and 2021 developed favorably by approximately $ 427 million, $ 284 million and $ 239 million in 2023, 2022 and 2021, respectively. The favorable prior year development recognized in 2023 was primarily due to lower than expected utilization of medical services by our members and improved operating performance, mainly in the Medicaid segment. Consequently, the ultimate costs recognized in 2023, as claims payments were processed, were lower than our estimates in 2022. | text | 239 | monetaryItemType | text: <entity> 239 </entity> <entity type> monetaryItemType </entity type> <context> Our estimates of medical claims and benefits payable recorded at December 31, 2023, 2022 and 2021 developed favorably by approximately $ 427 million, $ 284 million and $ 239 million in 2023, 2022 and 2021, respectively. The favorable prior year development recognized in 2023 was primarily due to lower than expected utilization of medical services by our members and improved operating performance, mainly in the Medicaid segment. Consequently, the ultimate costs recognized in 2023, as claims payments were processed, were lower than our estimates in 2022. </context> | us-gaap:SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPriorYearClaimsAndClaimsAdjustmentExpense |
We are party to a credit agreement (the “Credit Agreement”) which includes a revolving credit facility (“Credit Facility”) of $ 1.0 billion, among other provisions. The Credit Agreement has a term of five years , and all amounts outstanding will be due and payable on June 8, 2025. Borrowings under the Credit Agreement bear interest based, at our election, on a base rate or other defined rate, plus in each case, the applicable margin. In addition to interest payable on the principal amount of indebtedness outstanding from time to time under the Credit Agreement, we are required to pay a quarterly commitment fee. | text | 1.0 | monetaryItemType | text: <entity> 1.0 </entity> <entity type> monetaryItemType </entity type> <context> We are party to a credit agreement (the “Credit Agreement”) which includes a revolving credit facility (“Credit Facility”) of $ 1.0 billion, among other provisions. The Credit Agreement has a term of five years , and all amounts outstanding will be due and payable on June 8, 2025. Borrowings under the Credit Agreement bear interest based, at our election, on a base rate or other defined rate, plus in each case, the applicable margin. In addition to interest payable on the principal amount of indebtedness outstanding from time to time under the Credit Agreement, we are required to pay a quarterly commitment fee. </context> | us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity |
The Credit Agreement contains customary non-financial and financial covenants. As of December 31, 2023, we were in compliance with all financial and non-financial covenants under the Credit Agreement. As of December 31, 2023, no amounts were outstanding under the Credit Facility. | text | no | monetaryItemType | text: <entity> no </entity> <entity type> monetaryItemType </entity type> <context> The Credit Agreement contains customary non-financial and financial covenants. As of December 31, 2023, we were in compliance with all financial and non-financial covenants under the Credit Agreement. As of December 31, 2023, no amounts were outstanding under the Credit Facility. </context> | us-gaap:LineOfCredit |
4.375 % Notes due 2028. | text | 4.375 | percentItemType | text: <entity> 4.375 </entity> <entity type> percentItemType </entity type> <context> 4.375 % Notes due 2028. </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
We have $ 800 million aggregate principal amount of senior notes (the “ 4.375 % Notes”) outstanding as of December 31, 2023, which are due June 15, 2028, unless earlier redeemed. Interest, at a rate of 4.375 % per annum, is payable semiannually in arrears on June 15 and December 15. | text | 800 | monetaryItemType | text: <entity> 800 </entity> <entity type> monetaryItemType </entity type> <context> We have $ 800 million aggregate principal amount of senior notes (the “ 4.375 % Notes”) outstanding as of December 31, 2023, which are due June 15, 2028, unless earlier redeemed. Interest, at a rate of 4.375 % per annum, is payable semiannually in arrears on June 15 and December 15. </context> | us-gaap:DebtInstrumentFaceAmount |
We have $ 800 million aggregate principal amount of senior notes (the “ 4.375 % Notes”) outstanding as of December 31, 2023, which are due June 15, 2028, unless earlier redeemed. Interest, at a rate of 4.375 % per annum, is payable semiannually in arrears on June 15 and December 15. | text | 4.375 | percentItemType | text: <entity> 4.375 </entity> <entity type> percentItemType </entity type> <context> We have $ 800 million aggregate principal amount of senior notes (the “ 4.375 % Notes”) outstanding as of December 31, 2023, which are due June 15, 2028, unless earlier redeemed. Interest, at a rate of 4.375 % per annum, is payable semiannually in arrears on June 15 and December 15. </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
3.875 % Notes due 2030. | text | 3.875 | percentItemType | text: <entity> 3.875 </entity> <entity type> percentItemType </entity type> <context> 3.875 % Notes due 2030. </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
We have $ 650 million aggregate principal amount of senior notes (the “ 3.875 % Notes due 2030”) outstanding as of December 31, 2023, which are due November 15, 2030, unless earlier redeemed. Interest, at a rate of 3.875 % per annum, is payable semiannually in arrears on May 15 and November 15. | text | 650 | monetaryItemType | text: <entity> 650 </entity> <entity type> monetaryItemType </entity type> <context> We have $ 650 million aggregate principal amount of senior notes (the “ 3.875 % Notes due 2030”) outstanding as of December 31, 2023, which are due November 15, 2030, unless earlier redeemed. Interest, at a rate of 3.875 % per annum, is payable semiannually in arrears on May 15 and November 15. </context> | us-gaap:DebtInstrumentFaceAmount |
We have $ 650 million aggregate principal amount of senior notes (the “ 3.875 % Notes due 2030”) outstanding as of December 31, 2023, which are due November 15, 2030, unless earlier redeemed. Interest, at a rate of 3.875 % per annum, is payable semiannually in arrears on May 15 and November 15. | text | 3.875 | percentItemType | text: <entity> 3.875 </entity> <entity type> percentItemType </entity type> <context> We have $ 650 million aggregate principal amount of senior notes (the “ 3.875 % Notes due 2030”) outstanding as of December 31, 2023, which are due November 15, 2030, unless earlier redeemed. Interest, at a rate of 3.875 % per annum, is payable semiannually in arrears on May 15 and November 15. </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
3.875 % Notes due 2032. | text | 3.875 | percentItemType | text: <entity> 3.875 </entity> <entity type> percentItemType </entity type> <context> 3.875 % Notes due 2032. </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
At December 31, 2023, we had state net operating loss carryforwards of $ 53 million, which begin expiring in 2036. | text | 53 | monetaryItemType | text: <entity> 53 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2023, we had state net operating loss carryforwards of $ 53 million, which begin expiring in 2036. </context> | us-gaap:OperatingLossCarryforwards |
At December 31, 2023, we had foreign net operating loss carryforwards of $ 11 million, which begin expiring in 2031. | text | 11 | monetaryItemType | text: <entity> 11 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2023, we had foreign net operating loss carryforwards of $ 11 million, which begin expiring in 2031. </context> | us-gaap:OperatingLossCarryforwards |
At December 31, 2023, we had foreign tax credit carryovers of $ 5 million, which expire in 2030. | text | 5 | monetaryItemType | text: <entity> 5 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2023, we had foreign tax credit carryovers of $ 5 million, which expire in 2030. </context> | us-gaap:TaxCreditCarryforwardAmount |
We evaluate the need for a valuation allowance taking into consideration the ability to carry back and carry forward tax credits and losses, available tax planning strategies and future income, including reversal of temporary differences. We have determined that as of December 31, 2023, $ 24 million of deferred tax assets did not satisfy the recognition criteria. Therefore, we increased our valuation allowance by $ 6 million, from $ 18 million at December 31, 2022, to $ 24 million as of December 31, 2023. | text | 24 | monetaryItemType | text: <entity> 24 </entity> <entity type> monetaryItemType </entity type> <context> We evaluate the need for a valuation allowance taking into consideration the ability to carry back and carry forward tax credits and losses, available tax planning strategies and future income, including reversal of temporary differences. We have determined that as of December 31, 2023, $ 24 million of deferred tax assets did not satisfy the recognition criteria. Therefore, we increased our valuation allowance by $ 6 million, from $ 18 million at December 31, 2022, to $ 24 million as of December 31, 2023. </context> | us-gaap:TaxCreditCarryforwardValuationAllowance |
We evaluate the need for a valuation allowance taking into consideration the ability to carry back and carry forward tax credits and losses, available tax planning strategies and future income, including reversal of temporary differences. We have determined that as of December 31, 2023, $ 24 million of deferred tax assets did not satisfy the recognition criteria. Therefore, we increased our valuation allowance by $ 6 million, from $ 18 million at December 31, 2022, to $ 24 million as of December 31, 2023. | text | 6 | monetaryItemType | text: <entity> 6 </entity> <entity type> monetaryItemType </entity type> <context> We evaluate the need for a valuation allowance taking into consideration the ability to carry back and carry forward tax credits and losses, available tax planning strategies and future income, including reversal of temporary differences. We have determined that as of December 31, 2023, $ 24 million of deferred tax assets did not satisfy the recognition criteria. Therefore, we increased our valuation allowance by $ 6 million, from $ 18 million at December 31, 2022, to $ 24 million as of December 31, 2023. </context> | us-gaap:ValuationAllowanceDeferredTaxAssetChangeInAmount |
We evaluate the need for a valuation allowance taking into consideration the ability to carry back and carry forward tax credits and losses, available tax planning strategies and future income, including reversal of temporary differences. We have determined that as of December 31, 2023, $ 24 million of deferred tax assets did not satisfy the recognition criteria. Therefore, we increased our valuation allowance by $ 6 million, from $ 18 million at December 31, 2022, to $ 24 million as of December 31, 2023. | text | 18 | monetaryItemType | text: <entity> 18 </entity> <entity type> monetaryItemType </entity type> <context> We evaluate the need for a valuation allowance taking into consideration the ability to carry back and carry forward tax credits and losses, available tax planning strategies and future income, including reversal of temporary differences. We have determined that as of December 31, 2023, $ 24 million of deferred tax assets did not satisfy the recognition criteria. Therefore, we increased our valuation allowance by $ 6 million, from $ 18 million at December 31, 2022, to $ 24 million as of December 31, 2023. </context> | us-gaap:DeferredTaxAssetsValuationAllowance |
We evaluate the need for a valuation allowance taking into consideration the ability to carry back and carry forward tax credits and losses, available tax planning strategies and future income, including reversal of temporary differences. We have determined that as of December 31, 2023, $ 24 million of deferred tax assets did not satisfy the recognition criteria. Therefore, we increased our valuation allowance by $ 6 million, from $ 18 million at December 31, 2022, to $ 24 million as of December 31, 2023. | text | 24 | monetaryItemType | text: <entity> 24 </entity> <entity type> monetaryItemType </entity type> <context> We evaluate the need for a valuation allowance taking into consideration the ability to carry back and carry forward tax credits and losses, available tax planning strategies and future income, including reversal of temporary differences. We have determined that as of December 31, 2023, $ 24 million of deferred tax assets did not satisfy the recognition criteria. Therefore, we increased our valuation allowance by $ 6 million, from $ 18 million at December 31, 2022, to $ 24 million as of December 31, 2023. </context> | us-gaap:DeferredTaxAssetsValuationAllowance |
The total amount of unrecognized tax benefits at December 31, 2023, 2022 and 2021 that, if recognized, would affect the effective tax rates is $ 5 million, $ 5 million, and $ 15 million, respectively. We expect that during the next 12 months it is reasonably possible that unrecognized tax benefit liabilities may decrease by $ 5 million due to | text | 5 | monetaryItemType | text: <entity> 5 </entity> <entity type> monetaryItemType </entity type> <context> The total amount of unrecognized tax benefits at December 31, 2023, 2022 and 2021 that, if recognized, would affect the effective tax rates is $ 5 million, $ 5 million, and $ 15 million, respectively. We expect that during the next 12 months it is reasonably possible that unrecognized tax benefit liabilities may decrease by $ 5 million due to </context> | us-gaap:UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate |
The total amount of unrecognized tax benefits at December 31, 2023, 2022 and 2021 that, if recognized, would affect the effective tax rates is $ 5 million, $ 5 million, and $ 15 million, respectively. We expect that during the next 12 months it is reasonably possible that unrecognized tax benefit liabilities may decrease by $ 5 million due to | text | 15 | monetaryItemType | text: <entity> 15 </entity> <entity type> monetaryItemType </entity type> <context> The total amount of unrecognized tax benefits at December 31, 2023, 2022 and 2021 that, if recognized, would affect the effective tax rates is $ 5 million, $ 5 million, and $ 15 million, respectively. We expect that during the next 12 months it is reasonably possible that unrecognized tax benefit liabilities may decrease by $ 5 million due to </context> | us-gaap:UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate |
The total amount of unrecognized tax benefits at December 31, 2023, 2022 and 2021 that, if recognized, would affect the effective tax rates is $ 5 million, $ 5 million, and $ 15 million, respectively. We expect that during the next 12 months it is reasonably possible that unrecognized tax benefit liabilities may decrease by $ 5 million due to | text | 5 | monetaryItemType | text: <entity> 5 </entity> <entity type> monetaryItemType </entity type> <context> The total amount of unrecognized tax benefits at December 31, 2023, 2022 and 2021 that, if recognized, would affect the effective tax rates is $ 5 million, $ 5 million, and $ 15 million, respectively. We expect that during the next 12 months it is reasonably possible that unrecognized tax benefit liabilities may decrease by $ 5 million due to </context> | us-gaap:DecreaseInUnrecognizedTaxBenefitsIsReasonablyPossible |
In September 2023, our board of directors authorized the purchase of up to $ 750 million of our common stock. This new program supersedes the stock purchase program previously approved by our board of directors in November 2022 and extends through December 31, 2024. The exact timing and amount of any repurchase is determined by management based on market conditions and share price, in addition to other factors, and subject to the restrictions relating to volume, price, and timing under applicable law. No shares were purchased in 2023 and through February 9, 2024. | text | 750 | monetaryItemType | text: <entity> 750 </entity> <entity type> monetaryItemType </entity type> <context> In September 2023, our board of directors authorized the purchase of up to $ 750 million of our common stock. This new program supersedes the stock purchase program previously approved by our board of directors in November 2022 and extends through December 31, 2024. The exact timing and amount of any repurchase is determined by management based on market conditions and share price, in addition to other factors, and subject to the restrictions relating to volume, price, and timing under applicable law. No shares were purchased in 2023 and through February 9, 2024. </context> | us-gaap:StockRepurchaseProgramAuthorizedAmount1 |
In connection with our employee stock plans, approximately 442,000 shares and 755,000 shares of common stock were issued, net of shares used to settle employees’ income tax obligations, during the years ended December 31, 2023, and 2022, respectively. Total share-based compensation expense is reported in “General and administrative expenses” in the accompanying consolidated statements of income, and summarized below. | text | 442000 | sharesItemType | text: <entity> 442000 </entity> <entity type> sharesItemType </entity type> <context> In connection with our employee stock plans, approximately 442,000 shares and 755,000 shares of common stock were issued, net of shares used to settle employees’ income tax obligations, during the years ended December 31, 2023, and 2022, respectively. Total share-based compensation expense is reported in “General and administrative expenses” in the accompanying consolidated statements of income, and summarized below. </context> | us-gaap:StockIssuedDuringPeriodSharesShareBasedCompensation |
In connection with our employee stock plans, approximately 442,000 shares and 755,000 shares of common stock were issued, net of shares used to settle employees’ income tax obligations, during the years ended December 31, 2023, and 2022, respectively. Total share-based compensation expense is reported in “General and administrative expenses” in the accompanying consolidated statements of income, and summarized below. | text | 755000 | sharesItemType | text: <entity> 755000 </entity> <entity type> sharesItemType </entity type> <context> In connection with our employee stock plans, approximately 442,000 shares and 755,000 shares of common stock were issued, net of shares used to settle employees’ income tax obligations, during the years ended December 31, 2023, and 2022, respectively. Total share-based compensation expense is reported in “General and administrative expenses” in the accompanying consolidated statements of income, and summarized below. </context> | us-gaap:StockIssuedDuringPeriodSharesShareBasedCompensation |
At December 31, 2023, we had employee equity incentives outstanding under our 2019 Equity Incentive Plan (the “2019 EIP”). The 2019 EIP provides for awards, in the form of restricted stock awards (“RSAs”), performance units (“PSUs”), stock options, and other stock– or cash–based awards, to eligible persons who perform services for us. The 2019 EIP provides for the issuance of up to 2.9 million shares of our common stock. | text | 2.9 | sharesItemType | text: <entity> 2.9 </entity> <entity type> sharesItemType </entity type> <context> At December 31, 2023, we had employee equity incentives outstanding under our 2019 Equity Incentive Plan (the “2019 EIP”). The 2019 EIP provides for awards, in the form of restricted stock awards (“RSAs”), performance units (“PSUs”), stock options, and other stock– or cash–based awards, to eligible persons who perform services for us. The 2019 EIP provides for the issuance of up to 2.9 million shares of our common stock. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized |
. RSAs and PSUs are granted with a fair value equal to the market price of our common stock on the date of grant, and generally vest in equal annual installments over periods up to four years from the date of grant. PSUs vest in their entirety at the end of three-year performance periods, if their performance conditions are met. We generally recognize expense for RSAs and PSUs on a straight-line basis. The weighted-average grant date fair value of our RSAs was $ 277.37 in 2023, $ 312.27 in 2022, and $ 224.63 in 2021. The weighted-average grant date fair value of our PSUs was $ 233.50 in 2023, $ 214.94 in 2022, and $ 74.52 in 2021. Activity for stock-based awards in the year ended December 31, 2023, is summarized below. | text | 277.37 | perShareItemType | text: <entity> 277.37 </entity> <entity type> perShareItemType </entity type> <context> . RSAs and PSUs are granted with a fair value equal to the market price of our common stock on the date of grant, and generally vest in equal annual installments over periods up to four years from the date of grant. PSUs vest in their entirety at the end of three-year performance periods, if their performance conditions are met. We generally recognize expense for RSAs and PSUs on a straight-line basis. The weighted-average grant date fair value of our RSAs was $ 277.37 in 2023, $ 312.27 in 2022, and $ 224.63 in 2021. The weighted-average grant date fair value of our PSUs was $ 233.50 in 2023, $ 214.94 in 2022, and $ 74.52 in 2021. Activity for stock-based awards in the year ended December 31, 2023, is summarized below. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue |
. RSAs and PSUs are granted with a fair value equal to the market price of our common stock on the date of grant, and generally vest in equal annual installments over periods up to four years from the date of grant. PSUs vest in their entirety at the end of three-year performance periods, if their performance conditions are met. We generally recognize expense for RSAs and PSUs on a straight-line basis. The weighted-average grant date fair value of our RSAs was $ 277.37 in 2023, $ 312.27 in 2022, and $ 224.63 in 2021. The weighted-average grant date fair value of our PSUs was $ 233.50 in 2023, $ 214.94 in 2022, and $ 74.52 in 2021. Activity for stock-based awards in the year ended December 31, 2023, is summarized below. | text | 312.27 | perShareItemType | text: <entity> 312.27 </entity> <entity type> perShareItemType </entity type> <context> . RSAs and PSUs are granted with a fair value equal to the market price of our common stock on the date of grant, and generally vest in equal annual installments over periods up to four years from the date of grant. PSUs vest in their entirety at the end of three-year performance periods, if their performance conditions are met. We generally recognize expense for RSAs and PSUs on a straight-line basis. The weighted-average grant date fair value of our RSAs was $ 277.37 in 2023, $ 312.27 in 2022, and $ 224.63 in 2021. The weighted-average grant date fair value of our PSUs was $ 233.50 in 2023, $ 214.94 in 2022, and $ 74.52 in 2021. Activity for stock-based awards in the year ended December 31, 2023, is summarized below. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue |
. RSAs and PSUs are granted with a fair value equal to the market price of our common stock on the date of grant, and generally vest in equal annual installments over periods up to four years from the date of grant. PSUs vest in their entirety at the end of three-year performance periods, if their performance conditions are met. We generally recognize expense for RSAs and PSUs on a straight-line basis. The weighted-average grant date fair value of our RSAs was $ 277.37 in 2023, $ 312.27 in 2022, and $ 224.63 in 2021. The weighted-average grant date fair value of our PSUs was $ 233.50 in 2023, $ 214.94 in 2022, and $ 74.52 in 2021. Activity for stock-based awards in the year ended December 31, 2023, is summarized below. | text | 224.63 | perShareItemType | text: <entity> 224.63 </entity> <entity type> perShareItemType </entity type> <context> . RSAs and PSUs are granted with a fair value equal to the market price of our common stock on the date of grant, and generally vest in equal annual installments over periods up to four years from the date of grant. PSUs vest in their entirety at the end of three-year performance periods, if their performance conditions are met. We generally recognize expense for RSAs and PSUs on a straight-line basis. The weighted-average grant date fair value of our RSAs was $ 277.37 in 2023, $ 312.27 in 2022, and $ 224.63 in 2021. The weighted-average grant date fair value of our PSUs was $ 233.50 in 2023, $ 214.94 in 2022, and $ 74.52 in 2021. Activity for stock-based awards in the year ended December 31, 2023, is summarized below. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue |
. RSAs and PSUs are granted with a fair value equal to the market price of our common stock on the date of grant, and generally vest in equal annual installments over periods up to four years from the date of grant. PSUs vest in their entirety at the end of three-year performance periods, if their performance conditions are met. We generally recognize expense for RSAs and PSUs on a straight-line basis. The weighted-average grant date fair value of our RSAs was $ 277.37 in 2023, $ 312.27 in 2022, and $ 224.63 in 2021. The weighted-average grant date fair value of our PSUs was $ 233.50 in 2023, $ 214.94 in 2022, and $ 74.52 in 2021. Activity for stock-based awards in the year ended December 31, 2023, is summarized below. | text | 233.50 | perShareItemType | text: <entity> 233.50 </entity> <entity type> perShareItemType </entity type> <context> . RSAs and PSUs are granted with a fair value equal to the market price of our common stock on the date of grant, and generally vest in equal annual installments over periods up to four years from the date of grant. PSUs vest in their entirety at the end of three-year performance periods, if their performance conditions are met. We generally recognize expense for RSAs and PSUs on a straight-line basis. The weighted-average grant date fair value of our RSAs was $ 277.37 in 2023, $ 312.27 in 2022, and $ 224.63 in 2021. The weighted-average grant date fair value of our PSUs was $ 233.50 in 2023, $ 214.94 in 2022, and $ 74.52 in 2021. Activity for stock-based awards in the year ended December 31, 2023, is summarized below. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue |
. RSAs and PSUs are granted with a fair value equal to the market price of our common stock on the date of grant, and generally vest in equal annual installments over periods up to four years from the date of grant. PSUs vest in their entirety at the end of three-year performance periods, if their performance conditions are met. We generally recognize expense for RSAs and PSUs on a straight-line basis. The weighted-average grant date fair value of our RSAs was $ 277.37 in 2023, $ 312.27 in 2022, and $ 224.63 in 2021. The weighted-average grant date fair value of our PSUs was $ 233.50 in 2023, $ 214.94 in 2022, and $ 74.52 in 2021. Activity for stock-based awards in the year ended December 31, 2023, is summarized below. | text | 214.94 | perShareItemType | text: <entity> 214.94 </entity> <entity type> perShareItemType </entity type> <context> . RSAs and PSUs are granted with a fair value equal to the market price of our common stock on the date of grant, and generally vest in equal annual installments over periods up to four years from the date of grant. PSUs vest in their entirety at the end of three-year performance periods, if their performance conditions are met. We generally recognize expense for RSAs and PSUs on a straight-line basis. The weighted-average grant date fair value of our RSAs was $ 277.37 in 2023, $ 312.27 in 2022, and $ 224.63 in 2021. The weighted-average grant date fair value of our PSUs was $ 233.50 in 2023, $ 214.94 in 2022, and $ 74.52 in 2021. Activity for stock-based awards in the year ended December 31, 2023, is summarized below. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue |
. RSAs and PSUs are granted with a fair value equal to the market price of our common stock on the date of grant, and generally vest in equal annual installments over periods up to four years from the date of grant. PSUs vest in their entirety at the end of three-year performance periods, if their performance conditions are met. We generally recognize expense for RSAs and PSUs on a straight-line basis. The weighted-average grant date fair value of our RSAs was $ 277.37 in 2023, $ 312.27 in 2022, and $ 224.63 in 2021. The weighted-average grant date fair value of our PSUs was $ 233.50 in 2023, $ 214.94 in 2022, and $ 74.52 in 2021. Activity for stock-based awards in the year ended December 31, 2023, is summarized below. | text | 74.52 | perShareItemType | text: <entity> 74.52 </entity> <entity type> perShareItemType </entity type> <context> . RSAs and PSUs are granted with a fair value equal to the market price of our common stock on the date of grant, and generally vest in equal annual installments over periods up to four years from the date of grant. PSUs vest in their entirety at the end of three-year performance periods, if their performance conditions are met. We generally recognize expense for RSAs and PSUs on a straight-line basis. The weighted-average grant date fair value of our RSAs was $ 277.37 in 2023, $ 312.27 in 2022, and $ 224.63 in 2021. The weighted-average grant date fair value of our PSUs was $ 233.50 in 2023, $ 214.94 in 2022, and $ 74.52 in 2021. Activity for stock-based awards in the year ended December 31, 2023, is summarized below. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue |
As of December 31, 2023, total unrecognized compensation expense related to unvested RSAs and PSUs was $ 88 million, and $ 52 million, respectively, which we expect to recognize over a remaining weighted-average period of 2.1 years, and 1.1 years, respectively. This unrecognized compensation cost assumes an estimated forfeiture rate of 8 % for non-executive employees as of December 31, 2023, based on actual forfeitures over the last 4 years. | text | 88 | monetaryItemType | text: <entity> 88 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2023, total unrecognized compensation expense related to unvested RSAs and PSUs was $ 88 million, and $ 52 million, respectively, which we expect to recognize over a remaining weighted-average period of 2.1 years, and 1.1 years, respectively. This unrecognized compensation cost assumes an estimated forfeiture rate of 8 % for non-executive employees as of December 31, 2023, based on actual forfeitures over the last 4 years. </context> | us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized |
As of December 31, 2023, total unrecognized compensation expense related to unvested RSAs and PSUs was $ 88 million, and $ 52 million, respectively, which we expect to recognize over a remaining weighted-average period of 2.1 years, and 1.1 years, respectively. This unrecognized compensation cost assumes an estimated forfeiture rate of 8 % for non-executive employees as of December 31, 2023, based on actual forfeitures over the last 4 years. | text | 52 | monetaryItemType | text: <entity> 52 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2023, total unrecognized compensation expense related to unvested RSAs and PSUs was $ 88 million, and $ 52 million, respectively, which we expect to recognize over a remaining weighted-average period of 2.1 years, and 1.1 years, respectively. This unrecognized compensation cost assumes an estimated forfeiture rate of 8 % for non-executive employees as of December 31, 2023, based on actual forfeitures over the last 4 years. </context> | us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized |
No stock options were granted in 2023, 2022, or 2021. As of December 31, 2023, there was no unrecognized compensation expense related to unvested stock options. | text | no | sharesItemType | text: <entity> no </entity> <entity type> sharesItemType </entity type> <context> No stock options were granted in 2023, 2022, or 2021. As of December 31, 2023, there was no unrecognized compensation expense related to unvested stock options. </context> | us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares |
Under our ESPP, eligible employees may purchase common shares at 85 % of the lower of the fair market value of our common stock on either the first or last trading day of each six-month offering period. Each participant is limited to a maximum purchase of $ 25,000 (as measured by the fair value of the stock acquired) per year through payroll deductions. We estimate the fair value of the stock issued using a standard option pricing model. For the years ended December 31, 2023, 2022, and 2021, the inputs to this model were as follows: risk-free interest rates of approximately 0.1 % to 5.4 %; expected volatility of approximately 28 % to 54 %, dividend yields of 0 %, and an average expected life of 0.5 years. | text | 0.1 | percentItemType | text: <entity> 0.1 </entity> <entity type> percentItemType </entity type> <context> Under our ESPP, eligible employees may purchase common shares at 85 % of the lower of the fair market value of our common stock on either the first or last trading day of each six-month offering period. Each participant is limited to a maximum purchase of $ 25,000 (as measured by the fair value of the stock acquired) per year through payroll deductions. We estimate the fair value of the stock issued using a standard option pricing model. For the years ended December 31, 2023, 2022, and 2021, the inputs to this model were as follows: risk-free interest rates of approximately 0.1 % to 5.4 %; expected volatility of approximately 28 % to 54 %, dividend yields of 0 %, and an average expected life of 0.5 years. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum |
Under our ESPP, eligible employees may purchase common shares at 85 % of the lower of the fair market value of our common stock on either the first or last trading day of each six-month offering period. Each participant is limited to a maximum purchase of $ 25,000 (as measured by the fair value of the stock acquired) per year through payroll deductions. We estimate the fair value of the stock issued using a standard option pricing model. For the years ended December 31, 2023, 2022, and 2021, the inputs to this model were as follows: risk-free interest rates of approximately 0.1 % to 5.4 %; expected volatility of approximately 28 % to 54 %, dividend yields of 0 %, and an average expected life of 0.5 years. | text | 5.4 | percentItemType | text: <entity> 5.4 </entity> <entity type> percentItemType </entity type> <context> Under our ESPP, eligible employees may purchase common shares at 85 % of the lower of the fair market value of our common stock on either the first or last trading day of each six-month offering period. Each participant is limited to a maximum purchase of $ 25,000 (as measured by the fair value of the stock acquired) per year through payroll deductions. We estimate the fair value of the stock issued using a standard option pricing model. For the years ended December 31, 2023, 2022, and 2021, the inputs to this model were as follows: risk-free interest rates of approximately 0.1 % to 5.4 %; expected volatility of approximately 28 % to 54 %, dividend yields of 0 %, and an average expected life of 0.5 years. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum |
Under our ESPP, eligible employees may purchase common shares at 85 % of the lower of the fair market value of our common stock on either the first or last trading day of each six-month offering period. Each participant is limited to a maximum purchase of $ 25,000 (as measured by the fair value of the stock acquired) per year through payroll deductions. We estimate the fair value of the stock issued using a standard option pricing model. For the years ended December 31, 2023, 2022, and 2021, the inputs to this model were as follows: risk-free interest rates of approximately 0.1 % to 5.4 %; expected volatility of approximately 28 % to 54 %, dividend yields of 0 %, and an average expected life of 0.5 years. | text | 28 | percentItemType | text: <entity> 28 </entity> <entity type> percentItemType </entity type> <context> Under our ESPP, eligible employees may purchase common shares at 85 % of the lower of the fair market value of our common stock on either the first or last trading day of each six-month offering period. Each participant is limited to a maximum purchase of $ 25,000 (as measured by the fair value of the stock acquired) per year through payroll deductions. We estimate the fair value of the stock issued using a standard option pricing model. For the years ended December 31, 2023, 2022, and 2021, the inputs to this model were as follows: risk-free interest rates of approximately 0.1 % to 5.4 %; expected volatility of approximately 28 % to 54 %, dividend yields of 0 %, and an average expected life of 0.5 years. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum |
Under our ESPP, eligible employees may purchase common shares at 85 % of the lower of the fair market value of our common stock on either the first or last trading day of each six-month offering period. Each participant is limited to a maximum purchase of $ 25,000 (as measured by the fair value of the stock acquired) per year through payroll deductions. We estimate the fair value of the stock issued using a standard option pricing model. For the years ended December 31, 2023, 2022, and 2021, the inputs to this model were as follows: risk-free interest rates of approximately 0.1 % to 5.4 %; expected volatility of approximately 28 % to 54 %, dividend yields of 0 %, and an average expected life of 0.5 years. | text | 54 | percentItemType | text: <entity> 54 </entity> <entity type> percentItemType </entity type> <context> Under our ESPP, eligible employees may purchase common shares at 85 % of the lower of the fair market value of our common stock on either the first or last trading day of each six-month offering period. Each participant is limited to a maximum purchase of $ 25,000 (as measured by the fair value of the stock acquired) per year through payroll deductions. We estimate the fair value of the stock issued using a standard option pricing model. For the years ended December 31, 2023, 2022, and 2021, the inputs to this model were as follows: risk-free interest rates of approximately 0.1 % to 5.4 %; expected volatility of approximately 28 % to 54 %, dividend yields of 0 %, and an average expected life of 0.5 years. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum |
Under our ESPP, eligible employees may purchase common shares at 85 % of the lower of the fair market value of our common stock on either the first or last trading day of each six-month offering period. Each participant is limited to a maximum purchase of $ 25,000 (as measured by the fair value of the stock acquired) per year through payroll deductions. We estimate the fair value of the stock issued using a standard option pricing model. For the years ended December 31, 2023, 2022, and 2021, the inputs to this model were as follows: risk-free interest rates of approximately 0.1 % to 5.4 %; expected volatility of approximately 28 % to 54 %, dividend yields of 0 %, and an average expected life of 0.5 years. | text | 0 | percentItemType | text: <entity> 0 </entity> <entity type> percentItemType </entity type> <context> Under our ESPP, eligible employees may purchase common shares at 85 % of the lower of the fair market value of our common stock on either the first or last trading day of each six-month offering period. Each participant is limited to a maximum purchase of $ 25,000 (as measured by the fair value of the stock acquired) per year through payroll deductions. We estimate the fair value of the stock issued using a standard option pricing model. For the years ended December 31, 2023, 2022, and 2021, the inputs to this model were as follows: risk-free interest rates of approximately 0.1 % to 5.4 %; expected volatility of approximately 28 % to 54 %, dividend yields of 0 %, and an average expected life of 0.5 years. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate |
We sponsor defined contribution 401(k) plans that cover substantially all employees of our company and its subsidiaries. Eligible employees are permitted to contribute up to the maximum amount allowed by law. We match up to the first 4 % of compensation contributed by employees. Expense recognized in connection with our contributions to the 401(k) plans amounted to $ 54 million, $ 45 million, and $ 41 million in the years ended December 31, 2023, 2022, and 2021, respectively. | text | 4 | percentItemType | text: <entity> 4 </entity> <entity type> percentItemType </entity type> <context> We sponsor defined contribution 401(k) plans that cover substantially all employees of our company and its subsidiaries. Eligible employees are permitted to contribute up to the maximum amount allowed by law. We match up to the first 4 % of compensation contributed by employees. Expense recognized in connection with our contributions to the 401(k) plans amounted to $ 54 million, $ 45 million, and $ 41 million in the years ended December 31, 2023, 2022, and 2021, respectively. </context> | us-gaap:DefinedContributionPlanEmployerMatchingContributionPercent |
We sponsor defined contribution 401(k) plans that cover substantially all employees of our company and its subsidiaries. Eligible employees are permitted to contribute up to the maximum amount allowed by law. We match up to the first 4 % of compensation contributed by employees. Expense recognized in connection with our contributions to the 401(k) plans amounted to $ 54 million, $ 45 million, and $ 41 million in the years ended December 31, 2023, 2022, and 2021, respectively. | text | 54 | monetaryItemType | text: <entity> 54 </entity> <entity type> monetaryItemType </entity type> <context> We sponsor defined contribution 401(k) plans that cover substantially all employees of our company and its subsidiaries. Eligible employees are permitted to contribute up to the maximum amount allowed by law. We match up to the first 4 % of compensation contributed by employees. Expense recognized in connection with our contributions to the 401(k) plans amounted to $ 54 million, $ 45 million, and $ 41 million in the years ended December 31, 2023, 2022, and 2021, respectively. </context> | us-gaap:DefinedContributionPlanCostRecognized |
We sponsor defined contribution 401(k) plans that cover substantially all employees of our company and its subsidiaries. Eligible employees are permitted to contribute up to the maximum amount allowed by law. We match up to the first 4 % of compensation contributed by employees. Expense recognized in connection with our contributions to the 401(k) plans amounted to $ 54 million, $ 45 million, and $ 41 million in the years ended December 31, 2023, 2022, and 2021, respectively. | text | 45 | monetaryItemType | text: <entity> 45 </entity> <entity type> monetaryItemType </entity type> <context> We sponsor defined contribution 401(k) plans that cover substantially all employees of our company and its subsidiaries. Eligible employees are permitted to contribute up to the maximum amount allowed by law. We match up to the first 4 % of compensation contributed by employees. Expense recognized in connection with our contributions to the 401(k) plans amounted to $ 54 million, $ 45 million, and $ 41 million in the years ended December 31, 2023, 2022, and 2021, respectively. </context> | us-gaap:DefinedContributionPlanCostRecognized |
We sponsor defined contribution 401(k) plans that cover substantially all employees of our company and its subsidiaries. Eligible employees are permitted to contribute up to the maximum amount allowed by law. We match up to the first 4 % of compensation contributed by employees. Expense recognized in connection with our contributions to the 401(k) plans amounted to $ 54 million, $ 45 million, and $ 41 million in the years ended December 31, 2023, 2022, and 2021, respectively. | text | 41 | monetaryItemType | text: <entity> 41 </entity> <entity type> monetaryItemType </entity type> <context> We sponsor defined contribution 401(k) plans that cover substantially all employees of our company and its subsidiaries. Eligible employees are permitted to contribute up to the maximum amount allowed by law. We match up to the first 4 % of compensation contributed by employees. Expense recognized in connection with our contributions to the 401(k) plans amounted to $ 54 million, $ 45 million, and $ 41 million in the years ended December 31, 2023, 2022, and 2021, respectively. </context> | us-gaap:DefinedContributionPlanCostRecognized |
We also have a non-qualified deferred compensation plan for certain key employees. Under this plan, eligible participants may defer portions of their base salary and bonus to provide tax-deferred growth. The deferrals are distributable based upon termination of employment or other periods, as elected under the plan and were $ 39 million and $ 26 million as of December 31, 2023 and 2022, respectively. | text | 39 | monetaryItemType | text: <entity> 39 </entity> <entity type> monetaryItemType </entity type> <context> We also have a non-qualified deferred compensation plan for certain key employees. Under this plan, eligible participants may defer portions of their base salary and bonus to provide tax-deferred growth. The deferrals are distributable based upon termination of employment or other periods, as elected under the plan and were $ 39 million and $ 26 million as of December 31, 2023 and 2022, respectively. </context> | us-gaap:DeferredCompensationPlanAssets |
We also have a non-qualified deferred compensation plan for certain key employees. Under this plan, eligible participants may defer portions of their base salary and bonus to provide tax-deferred growth. The deferrals are distributable based upon termination of employment or other periods, as elected under the plan and were $ 39 million and $ 26 million as of December 31, 2023 and 2022, respectively. | text | 26 | monetaryItemType | text: <entity> 26 </entity> <entity type> monetaryItemType </entity type> <context> We also have a non-qualified deferred compensation plan for certain key employees. Under this plan, eligible participants may defer portions of their base salary and bonus to provide tax-deferred growth. The deferrals are distributable based upon termination of employment or other periods, as elected under the plan and were $ 39 million and $ 26 million as of December 31, 2023 and 2022, respectively. </context> | us-gaap:DeferredCompensationPlanAssets |
All of our health plans except California, Florida, Massachusetts and New York, are subject to the RBC rules. The minimum statutory capital requirements in these states are based on a percentage of annualized premium revenue, a percentage of annualized health care costs, a percentage of certain liabilities, or other financial ratios. If our California, Florida, Massachusetts or New York health plans became subject to RBC rules, minimum capital required for those states could increase. Our Massachusetts health plan maintains a $ 35 million performance bond, effective through December 31, 2024, to partially satisfy minimum net worth requirements in that state. | text | 35 | monetaryItemType | text: <entity> 35 </entity> <entity type> monetaryItemType </entity type> <context> All of our health plans except California, Florida, Massachusetts and New York, are subject to the RBC rules. The minimum statutory capital requirements in these states are based on a percentage of annualized premium revenue, a percentage of annualized health care costs, a percentage of certain liabilities, or other financial ratios. If our California, Florida, Massachusetts or New York health plans became subject to RBC rules, minimum capital required for those states could increase. Our Massachusetts health plan maintains a $ 35 million performance bond, effective through December 31, 2024, to partially satisfy minimum net worth requirements in that state. </context> | us-gaap:SpecialAssessmentBond |
Statutes, regulations and informal capital requirements also restrict the timing, payment, and amount of dividends and other distributions that may be paid to us as the sole stockholder. To the extent our subsidiaries must comply with these regulations, they may not have the financial flexibility to transfer funds to us. Based on current statutes and regulations, the net assets in these subsidiaries, which may not be transferable to us in the form of loans, advances, or cash dividends was approximately $ 3.7 billion at December 31, 2023. Because of the statutory restrictions that inhibit the ability of our health plans to transfer net assets to us, the amount of retained earnings readily available to pay dividends to our stockholders is generally limited to cash, cash equivalents and investments held by the parent company—Molina Healthcare, Inc. Such cash, cash equivalents and investments amounted to $ 742 million and $ 375 million as of December 31, 2023 and 2022, respectively. | text | 3.7 | monetaryItemType | text: <entity> 3.7 </entity> <entity type> monetaryItemType </entity type> <context> Statutes, regulations and informal capital requirements also restrict the timing, payment, and amount of dividends and other distributions that may be paid to us as the sole stockholder. To the extent our subsidiaries must comply with these regulations, they may not have the financial flexibility to transfer funds to us. Based on current statutes and regulations, the net assets in these subsidiaries, which may not be transferable to us in the form of loans, advances, or cash dividends was approximately $ 3.7 billion at December 31, 2023. Because of the statutory restrictions that inhibit the ability of our health plans to transfer net assets to us, the amount of retained earnings readily available to pay dividends to our stockholders is generally limited to cash, cash equivalents and investments held by the parent company—Molina Healthcare, Inc. Such cash, cash equivalents and investments amounted to $ 742 million and $ 375 million as of December 31, 2023 and 2022, respectively. </context> | us-gaap:AmountOfRestrictedNetAssetsForConsolidatedAndUnconsolidatedSubsidiaries |
Statutes, regulations and informal capital requirements also restrict the timing, payment, and amount of dividends and other distributions that may be paid to us as the sole stockholder. To the extent our subsidiaries must comply with these regulations, they may not have the financial flexibility to transfer funds to us. Based on current statutes and regulations, the net assets in these subsidiaries, which may not be transferable to us in the form of loans, advances, or cash dividends was approximately $ 3.7 billion at December 31, 2023. Because of the statutory restrictions that inhibit the ability of our health plans to transfer net assets to us, the amount of retained earnings readily available to pay dividends to our stockholders is generally limited to cash, cash equivalents and investments held by the parent company—Molina Healthcare, Inc. Such cash, cash equivalents and investments amounted to $ 742 million and $ 375 million as of December 31, 2023 and 2022, respectively. | text | 742 | monetaryItemType | text: <entity> 742 </entity> <entity type> monetaryItemType </entity type> <context> Statutes, regulations and informal capital requirements also restrict the timing, payment, and amount of dividends and other distributions that may be paid to us as the sole stockholder. To the extent our subsidiaries must comply with these regulations, they may not have the financial flexibility to transfer funds to us. Based on current statutes and regulations, the net assets in these subsidiaries, which may not be transferable to us in the form of loans, advances, or cash dividends was approximately $ 3.7 billion at December 31, 2023. Because of the statutory restrictions that inhibit the ability of our health plans to transfer net assets to us, the amount of retained earnings readily available to pay dividends to our stockholders is generally limited to cash, cash equivalents and investments held by the parent company—Molina Healthcare, Inc. Such cash, cash equivalents and investments amounted to $ 742 million and $ 375 million as of December 31, 2023 and 2022, respectively. </context> | us-gaap:CashCashEquivalentsAndShortTermInvestments |
Statutes, regulations and informal capital requirements also restrict the timing, payment, and amount of dividends and other distributions that may be paid to us as the sole stockholder. To the extent our subsidiaries must comply with these regulations, they may not have the financial flexibility to transfer funds to us. Based on current statutes and regulations, the net assets in these subsidiaries, which may not be transferable to us in the form of loans, advances, or cash dividends was approximately $ 3.7 billion at December 31, 2023. Because of the statutory restrictions that inhibit the ability of our health plans to transfer net assets to us, the amount of retained earnings readily available to pay dividends to our stockholders is generally limited to cash, cash equivalents and investments held by the parent company—Molina Healthcare, Inc. Such cash, cash equivalents and investments amounted to $ 742 million and $ 375 million as of December 31, 2023 and 2022, respectively. | text | 375 | monetaryItemType | text: <entity> 375 </entity> <entity type> monetaryItemType </entity type> <context> Statutes, regulations and informal capital requirements also restrict the timing, payment, and amount of dividends and other distributions that may be paid to us as the sole stockholder. To the extent our subsidiaries must comply with these regulations, they may not have the financial flexibility to transfer funds to us. Based on current statutes and regulations, the net assets in these subsidiaries, which may not be transferable to us in the form of loans, advances, or cash dividends was approximately $ 3.7 billion at December 31, 2023. Because of the statutory restrictions that inhibit the ability of our health plans to transfer net assets to us, the amount of retained earnings readily available to pay dividends to our stockholders is generally limited to cash, cash equivalents and investments held by the parent company—Molina Healthcare, Inc. Such cash, cash equivalents and investments amounted to $ 742 million and $ 375 million as of December 31, 2023 and 2022, respectively. </context> | us-gaap:CashCashEquivalentsAndShortTermInvestments |
As of December 31, 2023, our health plans had aggregate statutory capital and surplus of approximately $ 4.1 billion, which was in excess of the required minimum aggregate statutory capital and surplus of approximately $ 2.3 billion. We have the ability and commitment to provide additional capital to each of our health plans when necessary to ensure that statutory capital and surplus continues to meet regulatory requirements. | text | 4.1 | monetaryItemType | text: <entity> 4.1 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2023, our health plans had aggregate statutory capital and surplus of approximately $ 4.1 billion, which was in excess of the required minimum aggregate statutory capital and surplus of approximately $ 2.3 billion. We have the ability and commitment to provide additional capital to each of our health plans when necessary to ensure that statutory capital and surplus continues to meet regulatory requirements. </context> | us-gaap:StatutoryAccountingPracticesStatutoryCapitalAndSurplusBalance |
As of December 31, 2023, our health plans had aggregate statutory capital and surplus of approximately $ 4.1 billion, which was in excess of the required minimum aggregate statutory capital and surplus of approximately $ 2.3 billion. We have the ability and commitment to provide additional capital to each of our health plans when necessary to ensure that statutory capital and surplus continues to meet regulatory requirements. | text | 2.3 | monetaryItemType | text: <entity> 2.3 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2023, our health plans had aggregate statutory capital and surplus of approximately $ 4.1 billion, which was in excess of the required minimum aggregate statutory capital and surplus of approximately $ 2.3 billion. We have the ability and commitment to provide additional capital to each of our health plans when necessary to ensure that statutory capital and surplus continues to meet regulatory requirements. </context> | us-gaap:StatutoryAccountingPracticesStatutoryCapitalAndSurplusRequired |
We currently have four reportable segments consisting of: 1) Medicaid; 2) Medicare; 3) Marketplace; and 4) Other. Our reportable segments are consistent with how we currently manage the business and view the markets we serve. | text | four | integerItemType | text: <entity> four </entity> <entity type> integerItemType </entity type> <context> We currently have four reportable segments consisting of: 1) Medicaid; 2) Medicare; 3) Marketplace; and 4) Other. Our reportable segments are consistent with how we currently manage the business and view the markets we serve. </context> | us-gaap:NumberOfReportableSegments |
The Registrant provides certain centralized medical and administrative services to our subsidiaries pursuant to administrative services agreements that include, but are not limited to, information technology, product development and administration, underwriting, claims processing, customer service, certain care management services, human resources, marketing, purchasing, risk management, actuarial, finance, accounting, compliance, legal and public relations. Fees are based on the fair market value of services rendered and are recorded as operating revenue. Payment is subordinated to the subsidiaries’ ability to comply with minimum capital and other restrictive financial requirements of the states in which they operate. Charges in 2023, 2022, and 2021 for these services amounted to $ 2,038 million, $ 1,826 million, and $ 1,496 million, respectively, and are included in operating revenue. | text | 2038 | monetaryItemType | text: <entity> 2038 </entity> <entity type> monetaryItemType </entity type> <context> The Registrant provides certain centralized medical and administrative services to our subsidiaries pursuant to administrative services agreements that include, but are not limited to, information technology, product development and administration, underwriting, claims processing, customer service, certain care management services, human resources, marketing, purchasing, risk management, actuarial, finance, accounting, compliance, legal and public relations. Fees are based on the fair market value of services rendered and are recorded as operating revenue. Payment is subordinated to the subsidiaries’ ability to comply with minimum capital and other restrictive financial requirements of the states in which they operate. Charges in 2023, 2022, and 2021 for these services amounted to $ 2,038 million, $ 1,826 million, and $ 1,496 million, respectively, and are included in operating revenue. </context> | us-gaap:Revenues |
The Registrant provides certain centralized medical and administrative services to our subsidiaries pursuant to administrative services agreements that include, but are not limited to, information technology, product development and administration, underwriting, claims processing, customer service, certain care management services, human resources, marketing, purchasing, risk management, actuarial, finance, accounting, compliance, legal and public relations. Fees are based on the fair market value of services rendered and are recorded as operating revenue. Payment is subordinated to the subsidiaries’ ability to comply with minimum capital and other restrictive financial requirements of the states in which they operate. Charges in 2023, 2022, and 2021 for these services amounted to $ 2,038 million, $ 1,826 million, and $ 1,496 million, respectively, and are included in operating revenue. | text | 1826 | monetaryItemType | text: <entity> 1826 </entity> <entity type> monetaryItemType </entity type> <context> The Registrant provides certain centralized medical and administrative services to our subsidiaries pursuant to administrative services agreements that include, but are not limited to, information technology, product development and administration, underwriting, claims processing, customer service, certain care management services, human resources, marketing, purchasing, risk management, actuarial, finance, accounting, compliance, legal and public relations. Fees are based on the fair market value of services rendered and are recorded as operating revenue. Payment is subordinated to the subsidiaries’ ability to comply with minimum capital and other restrictive financial requirements of the states in which they operate. Charges in 2023, 2022, and 2021 for these services amounted to $ 2,038 million, $ 1,826 million, and $ 1,496 million, respectively, and are included in operating revenue. </context> | us-gaap:Revenues |
The Registrant provides certain centralized medical and administrative services to our subsidiaries pursuant to administrative services agreements that include, but are not limited to, information technology, product development and administration, underwriting, claims processing, customer service, certain care management services, human resources, marketing, purchasing, risk management, actuarial, finance, accounting, compliance, legal and public relations. Fees are based on the fair market value of services rendered and are recorded as operating revenue. Payment is subordinated to the subsidiaries’ ability to comply with minimum capital and other restrictive financial requirements of the states in which they operate. Charges in 2023, 2022, and 2021 for these services amounted to $ 2,038 million, $ 1,826 million, and $ 1,496 million, respectively, and are included in operating revenue. | text | 1496 | monetaryItemType | text: <entity> 1496 </entity> <entity type> monetaryItemType </entity type> <context> The Registrant provides certain centralized medical and administrative services to our subsidiaries pursuant to administrative services agreements that include, but are not limited to, information technology, product development and administration, underwriting, claims processing, customer service, certain care management services, human resources, marketing, purchasing, risk management, actuarial, finance, accounting, compliance, legal and public relations. Fees are based on the fair market value of services rendered and are recorded as operating revenue. Payment is subordinated to the subsidiaries’ ability to comply with minimum capital and other restrictive financial requirements of the states in which they operate. Charges in 2023, 2022, and 2021 for these services amounted to $ 2,038 million, $ 1,826 million, and $ 1,496 million, respectively, and are included in operating revenue. </context> | us-gaap:Revenues |
amount of the asset group exceeds its estimated undiscounted future cash flows, an impairment charge is recognized in the amount by which its carrying amount exceeds its fair value. We recorded $ 166 million of impairment charges related to our property, plant and equipment during the year ended December 31, 2024. No impairment charges were recorded during the years ended December 31, 2023 and 2022. | text | 166 | monetaryItemType | text: <entity> 166 </entity> <entity type> monetaryItemType </entity type> <context> amount of the asset group exceeds its estimated undiscounted future cash flows, an impairment charge is recognized in the amount by which its carrying amount exceeds its fair value. We recorded $ 166 million of impairment charges related to our property, plant and equipment during the year ended December 31, 2024. No impairment charges were recorded during the years ended December 31, 2023 and 2022. </context> | us-gaap:ImpairmentOfLongLivedAssetsHeldForUse |
We have three reportable segments comprised of the 1) Americas, 2) EMEA and 3) Asia-Pacific geographic regions, which we also determined are our reporting units. Goodwill is not amortized and is tested for impairment at least annually or more often if and when circumstances indicate that goodwill is not recoverable. | text | three | integerItemType | text: <entity> three </entity> <entity type> integerItemType </entity type> <context> We have three reportable segments comprised of the 1) Americas, 2) EMEA and 3) Asia-Pacific geographic regions, which we also determined are our reporting units. Goodwill is not amortized and is tested for impairment at least annually or more often if and when circumstances indicate that goodwill is not recoverable. </context> | us-gaap:NumberOfReportableSegments |
Generally, we assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value. Qualitative factors considered in the assessment include industry and market conditions, overall financial performance and other relevant events and factors affecting the reporting unit. If, after assessing the qualitative factors, we determine that it is not more likely than not that the fair value of a reporting unit is less than its carrying value, then performing a quantitative impairment test is unnecessary. However, if we conclude otherwise, then we are required to perform a quantitative goodwill impairment test. The quantitative impairment test, which is used to identify both the existence of impairment and the amount of impairment loss, compares the fair value of a reporting unit with its carrying amount, including goodwill. If the fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is not considered impaired. If the carrying value of the reporting unit exceeds its fair value, any excess of the reporting unit goodwill carrying value over the respective implied fair value is recognized as an impairment loss. In 2024, we elected to bypass the optional qualitative assessment and performed the quantitative assessment for our Americas, EMEA and Asia-Pacific reporting units. In 2023 and 2022, we performed qualitative assessments for our three reporting units. | text | three | integerItemType | text: <entity> three </entity> <entity type> integerItemType </entity type> <context> Generally, we assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value. Qualitative factors considered in the assessment include industry and market conditions, overall financial performance and other relevant events and factors affecting the reporting unit. If, after assessing the qualitative factors, we determine that it is not more likely than not that the fair value of a reporting unit is less than its carrying value, then performing a quantitative impairment test is unnecessary. However, if we conclude otherwise, then we are required to perform a quantitative goodwill impairment test. The quantitative impairment test, which is used to identify both the existence of impairment and the amount of impairment loss, compares the fair value of a reporting unit with its carrying amount, including goodwill. If the fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is not considered impaired. If the carrying value of the reporting unit exceeds its fair value, any excess of the reporting unit goodwill carrying value over the respective implied fair value is recognized as an impairment loss. In 2024, we elected to bypass the optional qualitative assessment and performed the quantitative assessment for our Americas, EMEA and Asia-Pacific reporting units. In 2023 and 2022, we performed qualitative assessments for our three reporting units. </context> | us-gaap:NumberOfReportingUnits |
group exceeds its estimated undiscounted future cash flows, an impairment charge is recognized by the amount by which its carrying amount exceeds its fair value. We recorded $ 29 million of impairment charges related to our finite-lived intangible assets during the year ended December 31, 2024. No impairment was recorded during the years ended December 31, 2023 and 2022. For further information on goodwill and other intangible assets, see Notes 3 and 6. | text | 29 | monetaryItemType | text: <entity> 29 </entity> <entity type> monetaryItemType </entity type> <context> group exceeds its estimated undiscounted future cash flows, an impairment charge is recognized by the amount by which its carrying amount exceeds its fair value. We recorded $ 29 million of impairment charges related to our finite-lived intangible assets during the year ended December 31, 2024. No impairment was recorded during the years ended December 31, 2023 and 2022. For further information on goodwill and other intangible assets, see Notes 3 and 6. </context> | us-gaap:ImpairmentOfIntangibleAssetsExcludingGoodwill |
The difference between the opening and closing balances of our accounts receivable, net, contract assets and deferred revenues primarily results from revenue growth and the timing difference between the satisfaction of our performance obligation and the customer's payment during the years ended December 31, 2024 and 2023. The amounts of revenue recognized during the years ended December 31, 2024, 2023 and 2022 from the opening deferred revenue balance were $ 88 million, $ 95 million and $ 83 million, respectively. For the years ended December 31, 2024, 2023 and 2022, no impairment loss related to contract balances was recognized in the consolidated statement of operations. | text | 88 | monetaryItemType | text: <entity> 88 </entity> <entity type> monetaryItemType </entity type> <context> The difference between the opening and closing balances of our accounts receivable, net, contract assets and deferred revenues primarily results from revenue growth and the timing difference between the satisfaction of our performance obligation and the customer's payment during the years ended December 31, 2024 and 2023. The amounts of revenue recognized during the years ended December 31, 2024, 2023 and 2022 from the opening deferred revenue balance were $ 88 million, $ 95 million and $ 83 million, respectively. For the years ended December 31, 2024, 2023 and 2022, no impairment loss related to contract balances was recognized in the consolidated statement of operations. </context> | us-gaap:ContractWithCustomerLiabilityRevenueRecognized |
The difference between the opening and closing balances of our accounts receivable, net, contract assets and deferred revenues primarily results from revenue growth and the timing difference between the satisfaction of our performance obligation and the customer's payment during the years ended December 31, 2024 and 2023. The amounts of revenue recognized during the years ended December 31, 2024, 2023 and 2022 from the opening deferred revenue balance were $ 88 million, $ 95 million and $ 83 million, respectively. For the years ended December 31, 2024, 2023 and 2022, no impairment loss related to contract balances was recognized in the consolidated statement of operations. | text | 95 | monetaryItemType | text: <entity> 95 </entity> <entity type> monetaryItemType </entity type> <context> The difference between the opening and closing balances of our accounts receivable, net, contract assets and deferred revenues primarily results from revenue growth and the timing difference between the satisfaction of our performance obligation and the customer's payment during the years ended December 31, 2024 and 2023. The amounts of revenue recognized during the years ended December 31, 2024, 2023 and 2022 from the opening deferred revenue balance were $ 88 million, $ 95 million and $ 83 million, respectively. For the years ended December 31, 2024, 2023 and 2022, no impairment loss related to contract balances was recognized in the consolidated statement of operations. </context> | us-gaap:ContractWithCustomerLiabilityRevenueRecognized |
The difference between the opening and closing balances of our accounts receivable, net, contract assets and deferred revenues primarily results from revenue growth and the timing difference between the satisfaction of our performance obligation and the customer's payment during the years ended December 31, 2024 and 2023. The amounts of revenue recognized during the years ended December 31, 2024, 2023 and 2022 from the opening deferred revenue balance were $ 88 million, $ 95 million and $ 83 million, respectively. For the years ended December 31, 2024, 2023 and 2022, no impairment loss related to contract balances was recognized in the consolidated statement of operations. | text | 83 | monetaryItemType | text: <entity> 83 </entity> <entity type> monetaryItemType </entity type> <context> The difference between the opening and closing balances of our accounts receivable, net, contract assets and deferred revenues primarily results from revenue growth and the timing difference between the satisfaction of our performance obligation and the customer's payment during the years ended December 31, 2024 and 2023. The amounts of revenue recognized during the years ended December 31, 2024, 2023 and 2022 from the opening deferred revenue balance were $ 88 million, $ 95 million and $ 83 million, respectively. For the years ended December 31, 2024, 2023 and 2022, no impairment loss related to contract balances was recognized in the consolidated statement of operations. </context> | us-gaap:ContractWithCustomerLiabilityRevenueRecognized |
The ending balances of net capitalized contract costs as of December 31, 2024 and 2023 were $ 436 million and $ 423 million, respectively, which were included in other assets in the consolidated balance sheet. $ 122 million, $ 103 | text | 436 | monetaryItemType | text: <entity> 436 </entity> <entity type> monetaryItemType </entity type> <context> The ending balances of net capitalized contract costs as of December 31, 2024 and 2023 were $ 436 million and $ 423 million, respectively, which were included in other assets in the consolidated balance sheet. $ 122 million, $ 103 </context> | us-gaap:CapitalizedContractCostNet |
The ending balances of net capitalized contract costs as of December 31, 2024 and 2023 were $ 436 million and $ 423 million, respectively, which were included in other assets in the consolidated balance sheet. $ 122 million, $ 103 | text | 423 | monetaryItemType | text: <entity> 423 </entity> <entity type> monetaryItemType </entity type> <context> The ending balances of net capitalized contract costs as of December 31, 2024 and 2023 were $ 436 million and $ 423 million, respectively, which were included in other assets in the consolidated balance sheet. $ 122 million, $ 103 </context> | us-gaap:CapitalizedContractCostNet |
The ending balances of net capitalized contract costs as of December 31, 2024 and 2023 were $ 436 million and $ 423 million, respectively, which were included in other assets in the consolidated balance sheet. $ 122 million, $ 103 | text | 122 | monetaryItemType | text: <entity> 122 </entity> <entity type> monetaryItemType </entity type> <context> The ending balances of net capitalized contract costs as of December 31, 2024 and 2023 were $ 436 million and $ 423 million, respectively, which were included in other assets in the consolidated balance sheet. $ 122 million, $ 103 </context> | us-gaap:CapitalizedContractCostAmortization |
The ending balances of net capitalized contract costs as of December 31, 2024 and 2023 were $ 436 million and $ 423 million, respectively, which were included in other assets in the consolidated balance sheet. $ 122 million, $ 103 | text | 103 | monetaryItemType | text: <entity> 103 </entity> <entity type> monetaryItemType </entity type> <context> The ending balances of net capitalized contract costs as of December 31, 2024 and 2023 were $ 436 million and $ 423 million, respectively, which were included in other assets in the consolidated balance sheet. $ 122 million, $ 103 </context> | us-gaap:CapitalizedContractCostAmortization |
million, and $ 96 million of contract costs were amortized during years ended December 31, 2024, 2023 and 2022, respectively, which were included in sales and marketing expense in the consolidated statement of operations. | text | 96 | monetaryItemType | text: <entity> 96 </entity> <entity type> monetaryItemType </entity type> <context> million, and $ 96 million of contract costs were amortized during years ended December 31, 2024, 2023 and 2022, respectively, which were included in sales and marketing expense in the consolidated statement of operations. </context> | us-gaap:CapitalizedContractCostAmortization |
As of December 31, 2024, approximately $ 11.0 billion of total revenues, including deferred installation revenues, are expected to be recognized in future periods. Most of our revenue contracts have an initial term varying from one to five years , and thereafter, automatically renew in one-year increments. Included in the remaining performance obligations are contracts that are either under the initial term or under one-year renewal periods. We expect to recognize approximately 70 % of our remaining performance obligations as revenues over the next two years , with more revenues expected to be recognized in the first year due to the impact of contract renewals. The remainder of the balance is generally expected to be recognized over the next three to five years . We estimate our remaining performance obligations at a point in time. Actual amounts and timing of revenue recognition may differ from these estimates due to changes in actual deployments dates, contract modifications, renewals and/or terminations. | text | 11.0 | monetaryItemType | text: <entity> 11.0 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2024, approximately $ 11.0 billion of total revenues, including deferred installation revenues, are expected to be recognized in future periods. Most of our revenue contracts have an initial term varying from one to five years , and thereafter, automatically renew in one-year increments. Included in the remaining performance obligations are contracts that are either under the initial term or under one-year renewal periods. We expect to recognize approximately 70 % of our remaining performance obligations as revenues over the next two years , with more revenues expected to be recognized in the first year due to the impact of contract renewals. The remainder of the balance is generally expected to be recognized over the next three to five years . We estimate our remaining performance obligations at a point in time. Actual amounts and timing of revenue recognition may differ from these estimates due to changes in actual deployments dates, contract modifications, renewals and/or terminations. </context> | us-gaap:RevenueRemainingPerformanceObligation |
As of December 31, 2024, approximately $ 11.0 billion of total revenues, including deferred installation revenues, are expected to be recognized in future periods. Most of our revenue contracts have an initial term varying from one to five years , and thereafter, automatically renew in one-year increments. Included in the remaining performance obligations are contracts that are either under the initial term or under one-year renewal periods. We expect to recognize approximately 70 % of our remaining performance obligations as revenues over the next two years , with more revenues expected to be recognized in the first year due to the impact of contract renewals. The remainder of the balance is generally expected to be recognized over the next three to five years . We estimate our remaining performance obligations at a point in time. Actual amounts and timing of revenue recognition may differ from these estimates due to changes in actual deployments dates, contract modifications, renewals and/or terminations. | text | 70 | percentItemType | text: <entity> 70 </entity> <entity type> percentItemType </entity type> <context> As of December 31, 2024, approximately $ 11.0 billion of total revenues, including deferred installation revenues, are expected to be recognized in future periods. Most of our revenue contracts have an initial term varying from one to five years , and thereafter, automatically renew in one-year increments. Included in the remaining performance obligations are contracts that are either under the initial term or under one-year renewal periods. We expect to recognize approximately 70 % of our remaining performance obligations as revenues over the next two years , with more revenues expected to be recognized in the first year due to the impact of contract renewals. The remainder of the balance is generally expected to be recognized over the next three to five years . We estimate our remaining performance obligations at a point in time. Actual amounts and timing of revenue recognition may differ from these estimates due to changes in actual deployments dates, contract modifications, renewals and/or terminations. </context> | us-gaap:RevenueRemainingPerformanceObligationPercentage |
On July 20, 2024, we entered into an agreement to acquire three data centers in the Philippines from Total Information Management (“TIM”), a leading technology solutions provider in the market, for a stated purchase price of $ 180 million subject to certain adjustments. The acquisition is expected to close in the first half of 2025, subject to customary closing conditions. Upon the close of the acquisition, the operating results of the acquired business will be reported in the Asia-Pacific region. The TIM Acquisition supports our ongoing expansion to meet customer demand in the overall Asia market. | text | 180 | monetaryItemType | text: <entity> 180 </entity> <entity type> monetaryItemType </entity type> <context> On July 20, 2024, we entered into an agreement to acquire three data centers in the Philippines from Total Information Management (“TIM”), a leading technology solutions provider in the market, for a stated purchase price of $ 180 million subject to certain adjustments. The acquisition is expected to close in the first half of 2025, subject to customary closing conditions. Upon the close of the acquisition, the operating results of the acquired business will be reported in the Asia-Pacific region. The TIM Acquisition supports our ongoing expansion to meet customer demand in the overall Asia market. </context> | us-gaap:BusinessCombinationConsiderationTransferred1 |
On May 2, 2022, we further expanded in Latin America through an acquisition of four data centers in Chile from Entel, a leading Chilean telecommunications provider, for a total purchase consideration of $ 638 million at the exchange rate in effect on that date. On August 1, 2022, we completed the acquisition of a data center in Peru from Entel for a total purchase consideration of $ 80 million at the exchange rate in effect on that date. The Entel Chile Acquisition and Entel Peru Acquisition support our ongoing expansion to meet customer demand in the Latin American market. | text | 638 | monetaryItemType | text: <entity> 638 </entity> <entity type> monetaryItemType </entity type> <context> On May 2, 2022, we further expanded in Latin America through an acquisition of four data centers in Chile from Entel, a leading Chilean telecommunications provider, for a total purchase consideration of $ 638 million at the exchange rate in effect on that date. On August 1, 2022, we completed the acquisition of a data center in Peru from Entel for a total purchase consideration of $ 80 million at the exchange rate in effect on that date. The Entel Chile Acquisition and Entel Peru Acquisition support our ongoing expansion to meet customer demand in the Latin American market. </context> | us-gaap:BusinessCombinationConsiderationTransferred1 |
On May 2, 2022, we further expanded in Latin America through an acquisition of four data centers in Chile from Entel, a leading Chilean telecommunications provider, for a total purchase consideration of $ 638 million at the exchange rate in effect on that date. On August 1, 2022, we completed the acquisition of a data center in Peru from Entel for a total purchase consideration of $ 80 million at the exchange rate in effect on that date. The Entel Chile Acquisition and Entel Peru Acquisition support our ongoing expansion to meet customer demand in the Latin American market. | text | 80 | monetaryItemType | text: <entity> 80 </entity> <entity type> monetaryItemType </entity type> <context> On May 2, 2022, we further expanded in Latin America through an acquisition of four data centers in Chile from Entel, a leading Chilean telecommunications provider, for a total purchase consideration of $ 638 million at the exchange rate in effect on that date. On August 1, 2022, we completed the acquisition of a data center in Peru from Entel for a total purchase consideration of $ 80 million at the exchange rate in effect on that date. The Entel Chile Acquisition and Entel Peru Acquisition support our ongoing expansion to meet customer demand in the Latin American market. </context> | us-gaap:BusinessCombinationConsiderationTransferred1 |
On April 1, 2022, we completed the acquisition of all outstanding shares of MainOne, which consisted of four data centers as well as a subsea cable and terrestrial fiber network. We acquired MainOne and its assets for a total purchase consideration of $ 278 million. The MainOne Acquisition supports our ongoing expansion to meet customer demand in the West African market. | text | 278 | monetaryItemType | text: <entity> 278 </entity> <entity type> monetaryItemType </entity type> <context> On April 1, 2022, we completed the acquisition of all outstanding shares of MainOne, which consisted of four data centers as well as a subsea cable and terrestrial fiber network. We acquired MainOne and its assets for a total purchase consideration of $ 278 million. The MainOne Acquisition supports our ongoing expansion to meet customer demand in the West African market. </context> | us-gaap:BusinessCombinationConsiderationTransferred1 |
For the MainOne Acquisition, other current liabilities includes $ 10 million of deferred revenue, current and deferred tax and other liabilities includes $ 95 million of deferred revenue, non-current. | text | 10 | monetaryItemType | text: <entity> 10 </entity> <entity type> monetaryItemType </entity type> <context> For the MainOne Acquisition, other current liabilities includes $ 10 million of deferred revenue, current and deferred tax and other liabilities includes $ 95 million of deferred revenue, non-current. </context> | us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesDeferredRevenue |
The operating results of the Entel Peru and Entel Chile acquisitions are reported in the Americas region and the operating results of the MainOne Acquisition are reported in the EMEA region following the date of acquisition. During the year of acquisition, our results of operations from these acquisitions included $ 90 million of revenues and $ 8 million of income from operations. | text | 90 | monetaryItemType | text: <entity> 90 </entity> <entity type> monetaryItemType </entity type> <context> The operating results of the Entel Peru and Entel Chile acquisitions are reported in the Americas region and the operating results of the MainOne Acquisition are reported in the EMEA region following the date of acquisition. During the year of acquisition, our results of operations from these acquisitions included $ 90 million of revenues and $ 8 million of income from operations. </context> | us-gaap:BusinessCombinationProFormaInformationRevenueOfAcquireeSinceAcquisitionDateActual |
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