What changed in this filing

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Item 1. Financial Statements

2026-08-10 compared with 2026-05-05 · 139 added, 55 removed, 423 unchanged (31% of the section changed)

2 unchanged sentences

Condensed Consolidated Balance Sheets

(in millions, except per share data) March 31,

(in millions, except per share data) June 30,

2026 December 31,

40 unchanged sentences

Three Months Ended

June 30, Six Months Ended

(in millions, except per share data) 2026 2025 2026 2025

29 unchanged sentences

Three Months Ended

June 30, Six Months Ended

(in millions) 2026 2025 2026 2025

Net earnings $ 5,670 $ 3,572 $ 12,151 $ 10,046

Other comprehensive (loss) income:

Other comprehensive income (loss):

Gross unrealized (losses) gains on investment securities during the period ( 28 ) 327 ( 398 ) 848

4 unchanged sentences

Total reclassification adjustment, net of tax 4 ( 13 ) 8 ( 21 )

Foreign currency translation (losses) gains ( 59 ) 88

Foreign currency translation gains 60 131 1 219

Reclassification adjustment for translation gains included in net earnings — — ( 160 ) —

Total foreign currency translation (losses) gains ( 219 ) 88

Other comprehensive (loss) income ( 501 ) 482

Total foreign currency translation gains (losses) 60 131 ( 159 ) 219

Other comprehensive income (loss) 43 370 ( 458 ) 852

Comprehensive income 5,713 3,942 11,693 10,898

5 unchanged sentences

Common Stock Additional Paid-In Capital Retained Earnings Accumulated Other Comprehensive Loss Nonredeemable Noncontrolling Interests Total

Three months ended March 31,

Three months ended June 30,

(in millions) Shares Amount Net Unrealized (Losses) Gains on Investments Foreign Currency Translation (Losses) Gains

Balance at March 31, 2026 908 $ 9 $ 556 $ 99,878 $ ( 1,360 ) $ ( 1,202 ) $ 6,014 $ 103,895

Net earnings 5,484 168 5,652

Other comprehensive (loss) income ( 17 ) 60 43

Issuances of common stock, and related tax effects 1 — 105 105

Share-based compensation 237 237

Common share repurchases ( 4 ) — ( 914 ) ( 2,318 ) ( 3,232 )

Cash dividends paid on common shares ($ 2.32 per share)

( 2,087 ) ( 2,087 )

Redeemable noncontrolling interests fair value and other adjustments 16 16

Acquisition and other adjustments of nonredeemable noncontrolling interests 63 63

Distribution to nonredeemable noncontrolling interests ( 179 ) ( 179 )

Balance at June 30, 2026 905 $ 9 $ — $ 100,957 $ ( 1,377 ) $ ( 1,142 ) $ 6,066 $ 104,513

Balance at March 31, 2025 910 $ 9 $ — $ 97,934 $ ( 1,832 ) $ ( 1,073 ) $ 5,773 $ 100,811

Net earnings 3,406 149 3,555

Other comprehensive income 239 131 370

Issuances of common stock, and related tax effects

Share-based compensation

Common share repurchases ( 6 ) — ( 415 ) ( 2,090 ) ( 2,505 )

Cash dividends paid on common shares ($ 2.21 per share)

( 2,000 ) ( 2,000 )

Redeemable noncontrolling interests fair value and other adjustments

( 10 ) ( 10 )

Acquisition and other adjustments of nonredeemable noncontrolling interests ( 19 ) ( 19 )

Distribution to nonredeemable noncontrolling interests

( 158 ) ( 158 )

Balance at June 30, 2025 905 $ 9 $ — $ 97,250 $ ( 1,593 ) $ ( 942 ) $ 5,745 $ 100,469

See Notes to the Condensed Consolidated Financial Statements

UnitedHealth Group

Condensed Consolidated Statements of Changes in Equity

Common Stock Additional Paid-In Capital Retained Earnings Accumulated Other Comprehensive Loss Nonredeemable Noncontrolling Interests Total

Six months ended June 30,

(in millions) Shares Amount Net Unrealized (Losses) Gains on Investments Foreign Currency Translation (Losses) Gains

Balance at January 1, 2026 906 $ 9 $ 559 $ 95,603 $ ( 1,078 ) $ ( 983 ) $ 5,980 $ 100,090

9 unchanged sentences

Distribution to nonredeemable noncontrolling interests ( 343 ) ( 343 )

Balance at March 31, 2026 908 $ 9 $ 556 $ 99,878 $ ( 1,360 ) $ ( 1,202 ) $ 6,014 $ 103,895

Balance at June 30, 2026 905 $ 9 $ — $ 100,957 $ ( 1,377 ) $ ( 1,142 ) $ 6,066 $ 104,513

Balance at January 1, 2025 915 $ 9 $ — $ 96,036 $ ( 2,226 ) $ ( 1,161 ) $ 5,610 $ 98,268

7 unchanged sentences

Redeemable noncontrolling interests fair value and other adjustments

( 15 ) ( 15 )

Acquisition and other adjustments of nonredeemable noncontrolling interests 175 175

1 unchanged sentence

( 337 ) ( 337 )

Balance at March 31, 2025 910 $ 9 $ — $ 97,934 $ ( 1,832 ) $ ( 1,073 ) $ 5,773 $ 100,811

Balance at June 30, 2025 905 $ 9 $ — $ 97,250 $ ( 1,593 ) $ ( 942 ) $ 5,745 $ 100,469

See Notes to the Condensed Consolidated Financial Statements

1 unchanged sentence

Condensed Consolidated Statements of Cash Flows

Three Months Ended

Six Months Ended

(in millions) 2026 2025

31 unchanged sentences

Repayments of long-term debt ( 2,500 ) —

Proceeds from short-term borrowings, net 1,100 3,911

Repayments of short-term borrowings, net ( 2,313 ) ( 1,403 )

Proceeds from issuance of long-term debt — 2,969

Customer funds administered 332 ( 25 )

Other, net ( 1,755 ) ( 513 )

Cash flows (used for) from financing activities ( 2,992 ) 99

Cash flows used for financing activities ( 11,615 ) ( 7,848 )

Effect of exchange rate changes on cash and cash equivalents ( 3 ) 29

24 unchanged sentences

Revenues - Products and Services

As of March 31, 2026 and December 31, 2025, accounts receivable related to products and services were $ 9.3 billion and $ 9.7 billion, respectively.

As of March 31, 2026, revenue expected to be recognized in any future year related to remaining performance obligations, excluding revenue pertaining to contracts having an original expected duration of one year or less, contracts where revenue is recognized as invoiced and contracts with variable consideration related to undelivered performance obligations, was $ 11.0 billion, of which approximately half is expected to be recognized in the next three years .

As of June 30, 2026 and December 31, 2025, accounts receivable related to products and services were $ 9.5 billion and $ 9.7 billion, respectively.

As of June 30, 2026, revenue expected to be recognized in any future year related to remaining performance obligations, excluding revenue pertaining to contracts having an original expected duration of one year or less, contracts where revenue is recognized as invoiced and contracts with variable consideration related to undelivered performance obligations, was $ 10.7 billion, of which more than half is expected to be recognized in the next three years .

Receivables Financing Facility

The Company has a $ 3.3 billion 364-day uncommitted receivables financing facility under which certain receivables may be sold to financial institutions.

During the three months ended March 31, 2026, the Company sold $ 585 million of receivables under the receivables financing facility, of which $ 245 million has been collected from counterparties and not yet remitted to financial institutions.

During the three months ended March 31, 2026, the Company also remitted $ 2.0 billion to financial institutions related to receivables sold in 2025.

During the six months ended June 30, 2026, the Company sold $ 3.2 billion of receivables under the receivables financing facility, of which $ 1.7 billion has been collected from counterparties, with $ 130 million not yet remitted to financial institutions.

During the six months ended June 30, 2026, the Company also remitted $ 2.0 billion to financial institutions related to receivables sold in 2025.

This was comprised of $ 1.0 billion collected but not remitted in 2025 and an additional $ 1.0 billion collected in 2026.

The loss on discounted receivables was immaterial for the three months ended March 31, 2026.

The loss on discounted receivables was immaterial for the three and six months ended June 30, 2026.

Net Portfolio Divestitures and Restructuring and Other Actions

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In the fourth quarter of 2025, the Company took various actions as a result of a strategic review of its assets and businesses aimed at advancing and scaling its core operations, including the value-based care business at Optum Health.

In the first quarter of 2026, these actions resulted in a net gain of $ 230 million, reflecting gains on the sales of businesses previously held for sale as of December 31, 2025, partially offset by incremental losses on other businesses held for sale.

By segment, this included gains of $ 528 million and $ 8 million at Optum Insight and Optum Rx, respectively, partially offset by a net loss of $ 306 million at Optum Health.

For the three and six months ended June 30, 2026, these actions resulted in a net loss of $ 39 million and a net gain of $ 191 million, respectively.

For the three and six months ended June 30, 2026, net portfolio divestitures included incremental losses on businesses held for sale, while the year-to-date results also included a net gain on the sales of businesses previously held for sale as of December 31, 2025.

By segment, second quarter impacts consisted of net losses of $ 35 million and $ 4 million at Optum Health and Optum Insight, respectively.

Year-to-date impacts consisted of gains of $ 524 million and $ 8 million at Optum Insight and Optum Rx, respectively, partially offset by a net loss of $ 341 million at Optum Health.

Gains and losses on portfolio actions were recorded within operating costs on the Condensed Consolidated Statements of Operations.

Restructuring and Other Actions

In the first quarter of 2026, restructuring and other items included a $ 400 million contribution to the United Health Foundation funded by the cash gain on the disposition of an Optum Insight business.

This was partially offset by a $ 137 million reduction of loss contract reserves established in the fourth quarter of 2025 and $ 59 million of net valuation gains on equity securities.

Restructuring and other actions resulted in an impact of $ 339 million at Optum Insight, partially offset by $ 135 million at Optum Health.

These items increased operating costs by $ 415 million, partially offset by an increase to investment and other income of $ 74 million and decreased medical costs of $ 137 million on the Condensed Consolidated Statements of Operations.

For the three and six months ended June 30, 2026, restructuring and other actions included the net decrease in loss contract reserves of $ 50 million and $ 187 million, respectively, and net valuation gains on equity securities of $ 1 million and $ 60 million, respectively, while the year-to-date results also included a $ 400 million contribution to the United Health Foundation funded by the cash gain on the disposition of an Optum Insight business.

By segment, the second quarter impact was $ 51 million at Optum Health.

Year-to-date impacts were $ 339 million at Optum Insight, partially offset by $ 186 million at Optum Health.

During the three months ended June 30, 2026, these items increased investment and other income by $ 1 million and decreased medical costs by $ 50 million.

For the six months ended June 30, 2026, these items increased operating costs by $ 415 million, partially offset by a $ 75 million increase to investment and other income and $ 187 million decrease in medical costs, as reflected on the Condensed Consolidated Statements of Operations.

A summary of debt securities by major security type is as follows:

(in millions) Amortized

March 31, 2026

June 30, 2026

Debt securities - available-for-sale:

25 unchanged sentences

Total debt securities $ 50,068 $ 231 $ ( 1,628 ) $ 48,671

The Company held $ 5.5 billion of equity securities as of March 31, 2026 and December 31, 2025.

The Company held $ 5.9 billion and $ 5.5 billion of equity securities as of June 30, 2026 and December 31, 2025, respectively.

The Company’s investments in equity securities primarily consist of venture investments and employee savings plan related investments.

The carrying values of equity securities held at fair value on a non-recurring basis were $ 3.5 billion and $ 3.3 billion, including cumulative net unrealized gains of $ 933 million and $ 846 million, as of March 31, 2026 and December 31, 2025, respectively.

Additionally, the Company’s investments included $ 3.9 billion and $ 3.8 billion of equity method investments primarily in operating businesses in the health care sector as of March 31, 2026 and December 31, 2025, respectively.

The allowance for credit losses on held-to-maturity securities at March 31, 2026 and December 31, 2025 was not material.

The amortized cost and fair value of debt securities as of March 31, 2026, by contractual maturity, were as follows:

The carrying values of equity securities held at fair value on a non-recurring basis were $ 3.6 billion and $ 3.3 billion, including cumulative net unrealized gains of $ 976 million and $ 846 million, as of June 30, 2026 and December 31, 2025, respectively.

Additionally, the Company’s investments included $ 4.0 billion and $ 3.8 billion of equity method investments primarily in operating businesses in the health care sector as of June 30, 2026 and December 31, 2025, respectively.

The allowance for credit losses on held-to-maturity securities at June 30, 2026 and December 31, 2025 was not material.

The amortized cost and fair value of debt securities as of June 30, 2026, by contractual maturity, were as follows:

Available-for-Sale Held-to-Maturity

11 unchanged sentences

(in millions) Fair

March 31, 2026

June 30, 2026

government and agency obligations $ 1,055 $ ( 16 ) $ 1,871 $ ( 164 ) $ 2,926 $ ( 180 )

11 unchanged sentences

Total debt securities - available-for-sale $ 4,214 $ ( 30 ) $ 25,100 $ ( 1,595 ) $ 29,314 $ ( 1,625 )

The Company’s unrealized losses from debt securities as of March 31, 2026 were generated from approximately 31,000 positions out of a total of 42,000 positions.

The Company’s unrealized losses from debt securities as of June 30, 2026 were generated from approximately 31,000 positions out of a total of 42,000 positions.

The Company believes that it will timely collect the principal and interest due on its debt securities that have an amortized cost in excess of fair value.

2 unchanged sentences

The Company evaluated the expected cash flows, the underlying credit quality and credit ratings of the issuers, noting no significant credit deterioration since purchase.

As of March 31, 2026, the Company did not have the intent to sell any of the available-for-sale debt securities in an unrealized loss position.

As of June 30, 2026, the Company did not have the intent to sell any of the available-for-sale debt securities in an unrealized loss position.

Therefore, the Company believes these losses to be temporary.

The allowance for credit losses on available-for-sale debt securities at March 31, 2026 and December 31, 2025 was not material.

The allowance for credit losses on available-for-sale debt securities at June 30, 2026 and December 31, 2025 was not material.

Certain assets and liabilities are measured at fair value in the Condensed Consolidated Financial Statements or have fair values disclosed in the Notes to the Condensed Consolidated Financial Statements.

7 unchanged sentences

Fair and Carrying

March 31, 2026

June 30, 2026

Cash and cash equivalents $ 15,784 $ 12,801 $ — $ 28,585

23 unchanged sentences

Percentage of total assets at fair value 34 % 64 % 2 % 100 %

There were no transfers in or out of Level 3 financial assets or liabilities during the three months ended March 31, 2026 or 2025.

There were no transfers in or out of Level 3 financial assets or liabilities during the six months ended June 30, 2026 or 2025.

The following table presents a summary of fair value measurements by level and carrying values for certain financial instruments not measured at fair value on a recurring basis in the Condensed Consolidated Balance Sheets:

4 unchanged sentences

Value Total Carrying Value

March 31, 2026

June 30, 2026

Debt securities - held-to-maturity $ 449 $ 23 $ — $ 472 $ 476

6 unchanged sentences

Nonfinancial assets and liabilities or financial assets and liabilities that are measured at fair value on a nonrecurring basis are subject to fair value adjustments only in certain circumstances, such as when the Company records an impairment.

The assets and liabilities within businesses held for sale as of March 31, 2026 were measured at the lower of carrying value or fair value less cost to sell.

The assets and liabilities within businesses held for sale as of June 30, 2026 were measured at the lower of carrying value or fair value less cost to sell.

Fair value is measured based upon unobservable amounts, such as estimated selling price derived from Company-specific information, market conditions and third-party indications.

There were no significant fair value adjustments for assets and liabilities recorded during the three months ended March 31, 2026 or 2025.

There were no significant fair value adjustments for assets and liabilities recorded during the six months ended June 30, 2026 or 2025.

Medical Costs Payable

The following table shows the components of the change in medical costs payable for the three months ended March 31:

The following table shows the components of the change in medical costs payable for the six months ended June 30:

(in millions) 2026 2025

11 unchanged sentences

Medical costs payable, end of period $ 38,930 $ 38,427

For the three months ended March 31, 2026, prior years’ medical cost reserve development was driven by a favorable respiratory illness season along with various other individually insignificant factors.

For the three months ended March 31, 2025, prior years’ medical cost reserve development did not include any individually significant factors.

Medical costs payable included reserves for claims incurred by consumers but not yet reported to the Company of $ 27.6 billion and $ 26.7 billion at March 31, 2026 and December 31, 2025, respectively.

For the six months ended June 30, 2026, prior years’ medical cost reserve development was driven by a favorable respiratory illness season along with various other individually insignificant factors.

For the six months ended June 30, 2025, prior years’ medical cost reserve development did not include any individually significant factors.

Medical costs payable included reserves for claims incurred by consumers but not yet reported to the Company of $ 26.5 billion and $ 26.7 billion at June 30, 2026 and December 31, 2025, respectively.

Short-Term Borrowings and Long-Term Debt

As of March 31, 2026, the Company had $ 3.4 billion of commercial paper outstanding, with a weighted-average annual interest rate of 3.7 %.

As of June 30, 2026, the Company had no commercial paper outstanding.

For more information on the Company’s short-term borrowings, debt covenants and long-term debt, see Note 8 of Notes to the Consolidated Financial Statements included in Part II, Item 8, “Financial Statements and Supplementary Data” in the 2025 10-K.

Shareholders’ Equity

In June 2026, the Company’s Board of Directors increased the Company’s quarterly cash dividend to shareholders to an annual rate of $9.28 compared to $8.84 per share, which the Company had paid since June 2025.

Declaration and payment of future quarterly dividends is at the discretion of the Board of Directors and may be adjusted as business needs or market conditions change.

The following table provides details of the Company’s 2026 dividend payments:

2 unchanged sentences

March 17 $ 2.21 $ 2,005

June 23 2.32 2,087

Forward Share Repurchase Contracts

During the three months ended March 31, 2026, the Company entered into forward contracts with a counterparty to repurchase up to $ 2.0 billion of its common stock, with expected settlement on or before July 1, 2026.

For completed contracts, a liability is established within other current liabilities on the Condensed Consolidated Balance Sheets with a corresponding reduction to additional paid-in-capital for the fair market value of the shares repurchased on the date the contract is completed.

During the three months ended March 31, 2026, the counterparty completed the purchase of 1.7 million shares at an average price of $ 285.68 per share and the Company recorded a liability of $ 500 million at contract completion.

The counterparty purchase periods for the remaining forward contracts will be completed in the second quarter of 2026.

During the six months ended June 30, 2026, the Company entered into forward contracts with a counterparty to repurchase up to $ 2.0 billion of its common stock, with settlement on or before July 1, 2026.

A liability is established within other current liabilities on the Condensed Consolidated Balance Sheets with a corresponding reduction to additional paid-in-capital for the fair market value of the shares repurchased on the date the contract is completed.

During the six months ended June 30, 2026, the counterparty completed the purchase of 6.4 million shares at an average price of $ 312.73 per share.

As of June 30, 2026, the Company had a liability of $ 2.0 billion related to the settlement of the forward contracts, which was paid on July 1, 2026 .

The calculation of basic and diluted earnings per share includes an immaterial reduction to net earnings attributable to UnitedHealth Group common shareholders for undistributed earnings attributable to the shares held by the counterparty for both the three months and six months ended June 30, 2026.

Commitments and Contingencies

Pending Acquisitions

As of March 31, 2026, the Company had entered into agreements to acquire companies in the health care sector, subject to regulatory approval and customary closing conditions, the majority of which are expected to close in the second half of 2026.

The total anticipated capital required for these acquisitions was approximately $ 3.0 billion.

In the first quarter of 2026, the Company entered into an agreement to acquire a company in the health care sector for $ 3.0 billion.

On July 2, 2026, the Company completed the acquisition for $ 1.5 billion in cash, with the remaining $ 1.5 billion payable within one year.

Legal Matters

27 unchanged sentences

Income Taxes - Internal Revenue Service Exams

On March 6, 2026, we received Notices of Proposed Adjustment (“NOPAs”) from the IRS for transactions undertaken during the 2017 through 2020 tax years involving intercompany transfer pricing with a foreign subsidiary.

On March 6, 2026, the Company received Notices of Proposed Adjustment (“NOPAs”) from the IRS for transactions undertaken during the 2017 through 2020 tax years involving intercompany transfer pricing with a foreign subsidiary.

The IRS is seeking to significantly increase taxable income for each of the applicable periods and could also seek similar adjustments for subsequent years after 2020.

We disagree with the IRS’s proposed adjustments, believe that our tax positions are properly supported, and intend to vigorously contest the position taken by the IRS and pursue all available administrative and judicial remedies.

As of March 31, 2026, the Company believes its reserves for uncertain tax positions are adequate based on current available information.

The Company disagrees with the IRS’s proposed adjustments, believes its tax positions are properly supported, and intends to vigorously contest the position taken by the IRS and pursue all available administrative and judicial remedies.

As of June 30, 2026, the Company believes its reserves for uncertain tax positions are adequate based on current available information.

For more information on the Company’s income taxes see Note 9 of Notes to the Consolidated Financial Statements included in Part II, Item 8, “Financial Statements and Supplementary Data” in the 2025 10-K.

4 unchanged sentences

Losses related to these actions are included within operating costs on the Condensed Consolidated Statements of Operations.

The assets and liabilities of the held for sale disposal group as of March 31, 2026, were as follows:

The assets and liabilities of the held for sale disposal groups as of June 30, 2026, were as follows:

(in millions) South American Businesses Other Businesses

13 unchanged sentences

(1) Includes the effect of $ 893 million of cumulative foreign currency translation losses and $ 273 million of noncontrolling interests for the South American businesses held for sale.

During the three months ended March 31, 2026, the Company completed dispositions of businesses that were classified as held for sale in the fourth quarter of 2025 for $ 1.1 billion of cash.

During the six months ended June 30, 2026, the Company completed dispositions of businesses that were classified as held for sale in the fourth quarter of 2025 for $ 1.1 billion of cash.

The businesses held assets of $ 1.2 billion, liabilities of $ 445 million and had cumulative foreign currency translation gains of $ 160 million.

14 unchanged sentences

Eliminations Consolidated

Three Months Ended March 31, 2026

Three Months Ended June 30, 2026

Revenues - unaffiliated customers:

14 unchanged sentences

Depreciation and Amortization 176 260 414 190 — 864 — 1,040

Three Months Ended March 31, 2025

Three Months Ended June 30, 2025

Revenues - unaffiliated customers:

16 unchanged sentences

(b) Prior period amounts have been recast to reflect the realignment of Optum Financial.

(in millions) UnitedHealthcare Optum

Health (b) Optum

Insight (b) Optum

Rx Optum Eliminations (b) Optum Corporate and

Eliminations Consolidated

Six Months Ended June 30, 2026

Revenues - unaffiliated customers:

Premiums $ 165,599 $ 8,918 $ — $ — $ — $ 8,918 $ — $ 174,517

Products — 119 90 26,876 — 27,085 — 27,085

Services 5,529 8,709 3,137 2,422 — 14,268 — 19,797

Total revenues - unaffiliated customers 171,128 17,746 3,227 29,298 — 50,271 — 221,399

Total revenues - affiliated customers — 29,351 6,674 44,640 ( 2,724 ) 77,941 ( 77,941 ) —

Investment and other income 1,154 484 626 90 — 1,200 — 2,354

Total revenues $ 172,282 $ 47,581 $ 10,527 $ 74,028 $ ( 2,724 ) $ 129,412 $ ( 77,941 ) $ 223,753

Total operating costs (a) $ 162,646 $ 45,250 $ 8,195 $ 71,346 $ ( 2,724 ) $ 122,067 $ ( 77,941 ) $ 206,772

Earnings from operations $ 9,636 $ 2,331 $ 2,332 $ 2,682 $ — $ 7,345 $ — $ 16,981

Interest expense — — — — — — ( 1,917 ) ( 1,917 )

Loss on sale of subsidiary and subsidiaries held for sale ( 133 ) — — — — — — ( 133 )

Earnings before income taxes $ 9,503 $ 2,331 $ 2,332 $ 2,682 $ — $ 7,345 $ ( 1,917 ) $ 14,931

Total assets $ 125,495 $ 72,716 $ 62,875 $ 59,656 $ ( 475 ) $ 194,772 $ ( 10,540 ) $ 309,727

Purchases of property, equipment and capitalized software 411 394 597 160 — 1,151 — 1,562

Depreciation and Amortization 394 506 806 363 — 1,675 — 2,069

Six Months Ended June 30, 2025

Revenues - unaffiliated customers:

Premiums $ 164,532 $ 9,907 $ — $ — $ — $ 9,907 $ — $ 174,439

Products — 130 88 26,382 — 26,600 — 26,600

Services 5,087 7,405 3,332 2,187 — 12,924 — 18,011

Total revenues - unaffiliated customers 169,619 17,442 3,420 28,569 — 49,431 — 219,050

Total revenues - affiliated customers — 31,655 6,359 44,927 ( 2,302 ) 80,639 ( 80,639 ) —

Investment and other income 1,101 465 480 95 — 1,040 — 2,141

Total revenues $ 170,720 $ 49,562 $ 10,259 $ 73,591 $ ( 2,302 ) $ 131,110 $ ( 80,639 ) $ 221,191

Total operating costs (a) $ 163,419 $ 47,722 $ 7,890 $ 70,832 $ ( 2,302 ) $ 124,142 $ ( 80,639 ) $ 206,922

Earnings from operations $ 7,301 $ 1,840 $ 2,369 $ 2,759 $ — $ 6,968 $ — $ 14,269

Interest expense — — — — — — ( 2,025 ) ( 2,025 )

Loss on sale of subsidiary and subsidiaries held for sale ( 56 ) — — — — — — ( 56 )

Earnings before income taxes $ 7,245 $ 1,840 $ 2,369 $ 2,759 $ — $ 6,968 $ ( 2,025 ) $ 12,188

Total assets $ 129,587 $ 69,810 $ 60,358 $ 61,674 $ — $ 191,842 $ ( 12,856 ) $ 308,573

Purchases of property, equipment and capitalized software 389 556 656 183 — 1,395 — 1,784

Depreciation and Amortization 440 517 761 427 — 1,705 — 2,145

(a) Total operating costs include medical costs, operating costs, cost of products sold and depreciation and amortization, as applicable for each reportable segment.

(b) Prior period amounts have been recast to reflect the realignment of Optum Financial.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Financial Statements