UNITEDHEALTH GROUP INC
For the period ended Sep 30, 2024. Filed Nov 4, 2024.
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Sep 30, 2024 · Filed Nov 4, 2024
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9. Dispositions and Held for Sale
- Dispositions and Held for Sale
During the nine months ended September 30, 2024, the Company completed or initiated various business portfolio and asset disposition activities. The Company recorded a loss of $7.1 billion related to the sale of its Brazil operations, of which $4.1 billion related to the impact of cumulative foreign currency translation losses previously included in accumulated other comprehensive loss, and a loss of $1.2 billion related to the reclassification of the Company’s remaining South American operations as held for sale, of which $876 million related to the impact of cumulative foreign currency translation losses.
The Company also sold other businesses and assets for $1.0 billion in total consideration, with a carrying value of $241 million, and the difference reflected in the Condensed Consolidated Statement of Operations. The sales of the Company’s remaining South American assets are expected to close within a year, subject to regulatory and other customary closing conditions. Assets and liabilities held for sale have been included within prepaid and other current assets and other current liabilities on the Condensed Consolidated Balance Sheet, respectively.
The assets and liabilities of the Brazil and held for sale disposal groups as of the date of the sale and as of September 30, 2024, respectively, were as follows:
| (in millions) | Brazil Disposition | Businesses Held for Sale |
|---|---|---|
| Assets | ||
| Cash and cash equivalents | $778 | $254 |
| Accounts receivable and other current assets | 515 | 652 |
| Long-term investments | 788 | 36 |
| Property, equipment and capitalized software | 1,052 | 674 |
| Deferred tax assets | 1,035 | — |
| Goodwill and other intangible assets | 317 | 450 |
| Other long-term assets | 439 | 253 |
| Remeasurement of assets of businesses held for sale to fair value less cost to sell(1) | — | (1,245) |
| Total assets | $4,924 | $1,074 |
| Liabilities | ||
| Medical costs payable | $701 | $200 |
| Accounts payable and other current liabilities | 834 | 395 |
| Other long-term liabilities | 136 | 544 |
| Total liabilities | $1,671 | $1,139 |
(1)Includes the effect of $876 million of cumulative foreign currency translation losses and $54 million of noncontrolling interests.
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