MOLINA HEALTHCARE INC
For the period ended Dec 31, 2023. Filed Feb 13, 2024.
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FY2023 · Filed Feb 13, 2024
MOH$209.49-0.2%Stored close · as of Nov 13, 2026
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Item 8. Consolidated Statements of Cash Flows
Checking your notes…
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| (In millions) | |||
| Operating activities: | |||
| Net income | $1,091 | $792 | $659 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 171 | 176 | 131 |
| Deferred income taxes | (31) | (66) | (24) |
| Share-based compensation | 115 | 103 | 72 |
| Loss on debt repayment | — | — | 25 |
| Impairment | — | 208 | — |
| Other, net | 2 | 8 | 33 |
| Changes in operating assets and liabilities, net of the effect of acquisitions: | |||
| Receivables | (778) | (95) | (415) |
| Prepaid expenses and other current assets | (69) | (124) | (19) |
| Medical claims and benefits payable | 580 | 153 | 471 |
| Amounts due government agencies | 196 | (428) | 1,046 |
| Accounts payable, accrued liabilities and other | 328 | 55 | 138 |
| Deferred revenue | 59 | (11) | (5) |
| Income taxes | (2) | 2 | 7 |
| Net cash provided by operating activities | 1,662 | 773 | 2,119 |
| Investing activities: | |||
| Purchases of investments | (1,433) | (1,913) | (2,713) |
| Proceeds from sales and maturities of investments | 772 | 1,398 | 1,329 |
| Net cash paid in business combinations | (3) | (134) | (129) |
| Purchases of property, equipment and capitalized software | (84) | (91) | (77) |
| Other, net | 4 | (50) | (63) |
| Net cash used in investing activities | (744) | (790) | (1,653) |
| Financing activities: | |||
| Common stock purchases | — | (400) | (128) |
| Common stock withheld to settle employee tax obligations | (60) | (54) | (53) |
| Contingent consideration liabilities settled | — | (20) | (20) |
| Proceeds from senior notes offerings, net of issuance costs | — | — | 740 |
| Repayment of senior notes | — | — | (723) |
| Other, net | 2 | 33 | 1 |
| Net cash used in financing activities | (58) | (441) | (183) |
| Net increase (decrease) in cash and cash equivalents, and restricted cash and cash equivalents | 860 | (458) | 283 |
| Cash and cash equivalents, and restricted cash and cash equivalents at beginning of period | 4,048 | 4,506 | 4,223 |
| Cash and cash equivalents, and restricted cash and cash equivalents at end of period | $4,908 | $4,048 | $4,506 |
(continued)
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| (In millions) | |||
| Supplemental cash flow information: | |||
| Cash paid during the period for: | |||
| Income taxes, net | $405 | $340 | $235 |
| Interest | $108 | $108 | $127 |
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