UNITEDHEALTH GROUP INC
For the period ended Jun 30, 2024. Filed Aug 9, 2024.
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Jun 30, 2024 · Filed Aug 9, 2024
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8. Disposition and Held for Sale
- Disposition and Held for Sale
On February 6, 2024, the Company completed the sale of its Brazil operations. During the six months ended June 30, 2024, the Company recorded a loss of $7.1 billion within the Condensed Consolidated Statement of Operations, of which $4.1 billion related to the impact of cumulative foreign currency translation losses previously included in accumulated other comprehensive loss.
In the second quarter of 2024, the Company initiated a plan to sell its remaining South American operations. The sales are expected to close within a year, subject to regulatory and other customary closing conditions. The Company determined that the businesses are classified as held for sale. Assets and liabilities held for sale have been included within prepaid and other current assets and other current liabilities on the Condensed Consolidated Balance Sheet, respectively. In the second quarter of 2024, the Company recorded a loss of $1.2 billion within the Condensed Consolidated Statements of Operations, of which $867 million related to the impact of cumulative foreign currency translation losses.
The assets and liabilities of the Brazil and held for sale disposal groups as of the date of the sale and as of June 30, 2024, respectively, were as follows:
| (in millions) | Brazil Disposition | Businesses Held for Sale |
|---|---|---|
| Assets | ||
| Cash and cash equivalents | $778 | $265 |
| Accounts receivable and other current assets | 515 | 608 |
| Long-term investments | 788 | 39 |
| Property, equipment and capitalized software | 1,052 | 633 |
| Deferred tax assets | 1,035 | — |
| Goodwill and other intangible assets | 317 | 445 |
| Other long-term assets | 439 | 246 |
| Remeasurement of assets of businesses held for sale to fair value less cost to sell(1) | — | (1,225) |
| Total assets | $4,924 | $1,011 |
| Liabilities | ||
| Medical costs payable | $701 | $179 |
| Accounts payable and other current liabilities | 834 | 378 |
| Other long-term liabilities | 136 | 524 |
| Total liabilities | $1,671 | $1,081 |
(1)Includes the effect of $867 million of cumulative foreign currency translation losses and $52 million of noncontrolling interests.
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