unstructuredio/SCORE-Bench · Datasets at Hugging Face

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Diluted earnings per common share increased 13% to $23.86.
Cash flows from operations were $29.1 billion.
Return on equity was 27.0%.

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RESULTS SUMMARY
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The following table summarizes our consolidated results of operations and other financial information:

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For the Years Ended December 31, Change
(in millions, except percentages and per share data) 2023 2022 2021 2023 vs. 2022
Revenues:
Premiums $ 290,827 $ 257,157 $ 226,233 $ 33,670 13%
Products 42,583 37,424 34,437 5,159 14
Services 34,123 27,551 24,603 6,572 24
Investment and other income 4,089 2,030 2,324 2,059 101
Total revenues 371,622 324,162 287,597 47,460 15
Operating costs:
Medical costs 241,894 210,842 186,911 31,052 15
Operating costs 54,628 47,782 42,579 6,846 14
Cost of products sold 38,770 33,703 31,034 5,067 15
Depreciation and amortization 3,972 3,400 3,103 572 17
Total operating costs 339,264 295,727 263,627 43,537 15
Earnings from operations 32,358 28,435 23,970 3,923 14
Interest expense (3,246) (2,092) (1,660) (1,154) 55
Earnings before income taxes 29,112 26,343 22,310 2,769 11
Provision for income taxes (5,968) (5,704) (4,578) (264) 5
Net earnings 23,144 20,639 17,732 2,505 12
Earnings attributable to noncontrolling interests (763) (519) (447) (244) 47
Net earnings attributable to UnitedHealth Group common shareholders $ 22,381 $ 20,120 $ 17,285 $ 2,261 11 %
Diluted earnings per share attributable to UnitedHealth Group common shareholders $ 23.86 $ 21.18 $ 18.08 $ 2.68 13 %
Medical care ratio (a) 83.2 % 82.0 % 82.6 % 1.2 %
Operating cost ratio 14.7 14.7 14.8 —
Operating margin 8.7 8.8 8.3 (0.1)
Tax rate 20.5 21.7 20.5 (1.2)
Net earnings margin (b) 6.0 6.2 6.0 (0.2)
Return on equity (c) 27.0 % 27.2 % 25.2 % (0.2)%
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(a) Medical care ratio (MCR) is calculated as medical costs divided by premium revenue.


(b) Net earnings margin attributable to UnitedHealth Group common shareholders.


(c) Return on equity is calculated as net earnings attributable to UnitedHealth Group common shareholders divided by average shareholders’ equity. Average shareholders’ equity is calculated using the shareholders’ equity balance at the end of the preceding year and the shareholders’ equity balances at the end of each of the four quarters of the year presented.
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26
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ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS
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Equity Compensation Plan Information
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The following table sets forth certain information as of December 31, 2023, concerning shares of common stock authorized for issuance under all of our equity compensation plans:
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Plan category (a) Number of securities to be issued upon exercise of outstanding options, warrants and rights (b) Weighted-average exercise price of outstanding options, warrants and rights (c) Number of securities remaining available for future issuance under equity compensation plans (excluding securities reflected in column (a))
(in millions) (in millions)
Equity compensation plans approved by shareholders ⁽¹⁾ 21 $ 320 70 ⁽³⁾
Equity compensation plans not approved by shareholders ⁽²⁾ — —
Total ⁽²⁾ 21 $ 320 70
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(1) Consists of the UnitedHealth Group Incorporated 2020 Stock Incentive Plan (the “2020 Stock Incentive Plan”), as amended, and the UnitedHealth Group 1993 Employee Stock Purchase Plan, as amended (the “ESPP”).
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(2) Excludes 191,000 shares underlying stock options assumed by us in connection with acquisitions. These options have a weighted-average exercise price of $356 and an average remaining term of approximately 3 years. These options are administered pursuant to the terms of the plans under which the options originally were granted. No future awards will be granted under these acquired plans.
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(3) Includes 17 million shares of common stock available for future issuance under the ESPP as of December 31, 2023, and 53 million shares available under the 2020 Stock Incentive Plan as of December 31, 2023. Shares available under the 2020 Stock Incentive Plan may become the subject of future awards in the form of stock options, stock appreciation rights, restricted stock, restricted stock units, performance awards and other stock-based awards.
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The information required by Item 403 of Regulation S-K will be included under the heading “Security Ownership of Certain Beneficial Owners and Management” in our definitive proxy statement for our 2024 Annual Meeting of Shareholders, and such required information is incorporated herein by reference.
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ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE
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The information required by Items 404 and 407(a) of Regulation S-K will be included under the headings “Certain Relationships and Transactions” and “Corporate Governance” in our definitive proxy statement for our 2024 Annual Meeting of Shareholders, and such required information is incorporated herein by reference.
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ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES
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Diluted earnings per common share increased 13% to $23.86.

Cash flows from operations were $29.1 billion.

Return on equity was 27.0%.

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RESULTS SUMMARY

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The following table summarizes our consolidated results of operations and other financial information:

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For the Years Ended December 31, Change

(in millions, except percentages and per share data) 2023 2022 2021 2023 vs. 2022

Revenues:

Premiums $ 290,827 $ 257,157 $ 226,233 $ 33,670 13%

Products 42,583 37,424 34,437 5,159 14

Services 34,123 27,551 24,603 6,572 24

Investment and other income 4,089 2,030 2,324 2,059 101

Total revenues 371,622 324,162 287,597 47,460 15

Operating costs:

Medical costs 241,894 210,842 186,911 31,052 15

Operating costs 54,628 47,782 42,579 6,846 14

Cost of products sold 38,770 33,703 31,034 5,067 15

Depreciation and amortization 3,972 3,400 3,103 572 17

Total operating costs 339,264 295,727 263,627 43,537 15

Earnings from operations 32,358 28,435 23,970 3,923 14

Interest expense (3,246) (2,092) (1,660) (1,154) 55

Earnings before income taxes 29,112 26,343 22,310 2,769 11

Provision for income taxes (5,968) (5,704) (4,578) (264) 5

Net earnings 23,144 20,639 17,732 2,505 12

Earnings attributable to noncontrolling interests (763) (519) (447) (244) 47

Net earnings attributable to UnitedHealth Group common shareholders $ 22,381 $ 20,120 $ 17,285 $ 2,261 11 %

Diluted earnings per share attributable to UnitedHealth Group common shareholders $ 23.86 $ 21.18 $ 18.08 $ 2.68 13 %

Medical care ratio (a) 83.2 % 82.0 % 82.6 % 1.2 %

Operating cost ratio 14.7 14.7 14.8 —

Operating margin 8.7 8.8 8.3 (0.1)

Tax rate 20.5 21.7 20.5 (1.2)

Net earnings margin (b) 6.0 6.2 6.0 (0.2)

Return on equity (c) 27.0 % 27.2 % 25.2 % (0.2)%

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(a) Medical care ratio (MCR) is calculated as medical costs divided by premium revenue.

(b) Net earnings margin attributable to UnitedHealth Group common shareholders.

(c) Return on equity is calculated as net earnings attributable to UnitedHealth Group common shareholders divided by average shareholders’ equity. Average shareholders’ equity is calculated using the shareholders’ equity balance at the end of the preceding year and the shareholders’ equity balances at the end of each of the four quarters of the year presented.

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26

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ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

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Equity Compensation Plan Information

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The following table sets forth certain information as of December 31, 2023, concerning shares of common stock authorized for issuance under all of our equity compensation plans:

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Plan category (a) Number of securities to be issued upon exercise of outstanding options, warrants and rights (b) Weighted-average exercise price of outstanding options, warrants and rights (c) Number of securities remaining available for future issuance under equity compensation plans (excluding securities reflected in column (a))

(in millions) (in millions)

Equity compensation plans approved by shareholders ⁽¹⁾ 21 $ 320 70 ⁽³⁾

Equity compensation plans not approved by shareholders ⁽²⁾ — —

Total ⁽²⁾ 21 $ 320 70

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(1) Consists of the UnitedHealth Group Incorporated 2020 Stock Incentive Plan (the “2020 Stock Incentive Plan”), as amended, and the UnitedHealth Group 1993 Employee Stock Purchase Plan, as amended (the “ESPP”).

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(2) Excludes 191,000 shares underlying stock options assumed by us in connection with acquisitions. These options have a weighted-average exercise price of $356 and an average remaining term of approximately 3 years. These options are administered pursuant to the terms of the plans under which the options originally were granted. No future awards will be granted under these acquired plans.

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(3) Includes 17 million shares of common stock available for future issuance under the ESPP as of December 31, 2023, and 53 million shares available under the 2020 Stock Incentive Plan as of December 31, 2023. Shares available under the 2020 Stock Incentive Plan may become the subject of future awards in the form of stock options, stock appreciation rights, restricted stock, restricted stock units, performance awards and other stock-based awards.

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The information required by Item 403 of Regulation S-K will be included under the heading “Security Ownership of Certain Beneficial Owners and Management” in our definitive proxy statement for our 2024 Annual Meeting of Shareholders, and such required information is incorporated herein by reference.

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ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE

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The information required by Items 404 and 407(a) of Regulation S-K will be included under the headings “Certain Relationships and Transactions” and “Corporate Governance” in our definitive proxy statement for our 2024 Annual Meeting of Shareholders, and such required information is incorporated herein by reference.

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ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES

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