UNITEDHEALTH GROUP INC
For the period ended Dec 31, 2024. Filed Feb 27, 2025.
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FY2024 · Filed Feb 27, 2025
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6. Goodwill and Other Intangible Assets
- Goodwill and Other Intangible Assets
Changes in the carrying amount of goodwill, by reportable segment, were as follows:
| (in millions) | UnitedHealthcare | Optum Health | Optum Insight | Optum Rx | Consolidated |
|---|---|---|---|---|---|
| Balance at January 1, 2023 | $27,395 | $29,238 | $17,244 | $19,475 | $93,352 |
| Acquisitions | 296 | 8,023 | 1,802 | — | 10,121 |
| Foreign currency effects and other adjustments, net | 187 | (182) | 261 | (7) | 259 |
| Balance at December 31, 2023 | 27,878 | 37,079 | 19,307 | 19,468 | 103,732 |
| Acquisitions | — | 2,071 | — | 2,305 | 4,376 |
| Dispositions, foreign currency effects and other adjustments, net | (717) | (324) | (327) | (6) | (1,374) |
| Balance at December 31, 2024 | $27,161 | $38,826 | $18,980 | $21,767 | $106,734 |
The gross carrying value, accumulated amortization and net carrying value of other intangible assets were as follows:
| December 31, 2024 | December 31, 2023 | |||||
|---|---|---|---|---|---|---|
| (in millions) | Gross Carrying Value | Accumulated Amortization | Net Carrying Value | Gross Carrying Value | Accumulated Amortization | Net Carrying Value |
| Customer-related | $17,190 | $(6,675) | $10,515 | $16,636 | $(5,909) | $10,727 |
| Trademarks and technology | 2,917 | (1,284) | 1,633 | 2,508 | (958) | 1,550 |
| Trade names, trademarks, operating licenses and certificates and other indefinite-lived | 10,454 | — | 10,454 | 2,116 | — | 2,116 |
| Other | 1,057 | (391) | 666 | 1,213 | (412) | 801 |
| Total | $31,618 | $(8,350) | $23,268 | $22,473 | $(7,279) | $15,194 |
The fair values and weighted-average useful lives assigned to intangible assets as a result of transactions completed during years ended:
| 2024 | 2023 | |||
|---|---|---|---|---|
| (in millions, except years) | Fair Value | Weighted-Average Useful Life | Fair Value | Weighted-Average Useful Life |
| Customer-related | $1,258 | 12 years | $477 | 12 years |
| Trademarks and technology | 527 | 6 years | 226 | 5 years |
| Other | 22 | 8 years | 44 | 9 years |
| Total finite-lived | $1,807 | 10 years | $747 | 9 years |
| Total indefinite-lived - trade names, trademarks, operating licenses and certificates and other | 8,795 | 1,427 | ||
| Total intangible assets | $10,602 | $2,174 | ||
Estimated full year amortization expense relating to intangible assets for each of the next five years ending December 31 is as follows:
| (in millions) | |
|---|---|
| 2025 | $1,655 |
| 2026 | 1,503 |
| 2027 | 1,424 |
| 2028 | 1,344 |
| 2029 | 1,211 |
Amortization expense relating to intangible assets for the years ended December 31, 2024, 2023 and 2022 was $1.7 billion, $1.6 billion and $1.3 billion, respectively.
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