10-Q Filing

MOLINA HEALTHCARE, INC. CIK: 1179929 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001179929-22-000080`
Period End Date	20220331
Filing Date	20220428
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	moh-20220331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 73 Income Statement 38 Cash Flow Statement 56 Stockholders Equity 15 Comprehensive Income 10

Balance Sheet 73 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.44B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.80B	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	58.00M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	59.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.43B	USD	Point-in-time
Investments	`MarketableSecuritiesCurrent`	$3.20B	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Investments	`MarketableSecuritiesCurrent`	$2.99B	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	20.00M	shares	Point-in-time
Receivables	`ReceivablesNetCurrent`	$2.16B	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	20.00M	shares	Point-in-time
Receivables	`ReceivablesNetCurrent`	$2.18B	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$247.00M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$198.00M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$10.15B	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$10.06B	USD	Point-in-time
Property, equipment, and capitalized software, net	`PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization`	$396.00M	USD	Point-in-time
Property, equipment, and capitalized software, net	`PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization`	$393.00M	USD	Point-in-time
Goodwill, and intangible assets, net	`IntangibleAssetsNetIncludingGoodwill`	$1.25B	USD	Point-in-time
Goodwill, and intangible assets, net	`IntangibleAssetsNetIncludingGoodwill`	$1.30B	USD	Point-in-time
Restricted investments	`RestrictedInvestmentsNoncurrent`	$212.00M	USD	Point-in-time
Restricted investments	`RestrictedInvestmentsNoncurrent`	$221.00M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxAssetsNet`	$114.00M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxAssetsNet`	$106.00M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$181.00M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$179.00M	USD	Point-in-time
Total assets	`Assets`	$12.36B	USD	Point-in-time
Total assets	`Assets`	$12.21B	USD	Point-in-time
Medical claims and benefits payable	`LiabilityForClaimsAndClaimsAdjustmentExpense`	$3.60B	USD	Point-in-time
Medical claims and benefits payable	`LiabilityForClaimsAndClaimsAdjustmentExpense`	$2.84B	USD	Point-in-time
Medical claims and benefits payable	`LiabilityForClaimsAndClaimsAdjustmentExpense`	$2.70B	USD	Point-in-time
Medical claims and benefits payable	`LiabilityForClaimsAndClaimsAdjustmentExpense`	$3.36B	USD	Point-in-time
Amounts due government agencies	`MedicalPremiumLiabilityDueToAgency`	$2.47B	USD	Point-in-time
Amounts due government agencies	`MedicalPremiumLiabilityDueToAgency`	$2.61B	USD	Point-in-time
Accounts payable, accrued liabilities and other	`AccountsPayableAndAccruedLiabilitiesCurrent`	$842.00M	USD	Point-in-time
Accounts payable, accrued liabilities and other	`AccountsPayableAndAccruedLiabilitiesCurrent`	$809.00M	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityCurrent`	$370.00M	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityCurrent`	$18.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.05B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.04B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$2.17B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$2.17B	USD	Point-in-time
Finance lease liabilities	`FinanceLeaseLiabilityNoncurrent`	$217.00M	USD	Point-in-time
Finance lease liabilities	`FinanceLeaseLiabilityNoncurrent`	$219.00M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$134.00M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$140.00M	USD	Point-in-time
Total liabilities	`Liabilities`	$9.58B	USD	Point-in-time
Total liabilities	`Liabilities`	$9.57B	USD	Point-in-time
Common stock, $0.001 par value, 150 million shares authorized; outstanding: 59 million shares at March 31, 2022, and 58 million shares at December 31, 2021	`CommonStockValueOutstanding`	-	USD	Point-in-time
Common stock, $0.001 par value, 150 million shares authorized; outstanding: 59 million shares at March 31, 2022, and 58 million shares at December 31, 2021	`CommonStockValueOutstanding`	-	USD	Point-in-time
Preferred stock, $0.001 par value; 20 million shares authorized, no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.001 par value; 20 million shares authorized, no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$218.00M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$236.00M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-81.00M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-5.00M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$2.40B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$2.66B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$2.10B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$2.63B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$2.16B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$2.79B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$12.36B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$12.21B	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Premium revenue	`PremiumsEarnedNet`	$6.31B	USD	1 Quarter
Premium revenue	`PremiumsEarnedNet`	$7.53B	USD	1 Quarter
Premium tax revenue	`HealthCareOrganizationPremiumTaxRevenue`	$208.00M	USD	1 Quarter
Premium tax revenue	`HealthCareOrganizationPremiumTaxRevenue`	$187.00M	USD	1 Quarter
Investment income	`NetInvestmentIncome`	$11.00M	USD	1 Quarter
Investment income	`NetInvestmentIncome`	$9.00M	USD	1 Quarter
Other revenue	`InterestAndDividendIncomeOperating`	$20.00M	USD	1 Quarter
Other revenue	`InterestAndDividendIncomeOperating`	$20.00M	USD	1 Quarter
Total revenue	`Revenues`	$7.77B	USD	1 Quarter
Total revenue	`Revenues`	$6.52B	USD	1 Quarter
Medical care costs	`CostOfGoodsAndServicesSold`	$5.47B	USD	1 Quarter
Medical care costs	`CostOfGoodsAndServicesSold`	$6.56B	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$473.00M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$571.00M	USD	1 Quarter
Premium tax expenses	`PremiumTaxExpenses`	$187.00M	USD	1 Quarter
Premium tax expenses	`PremiumTaxExpenses`	$208.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$40.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$33.00M	USD	1 Quarter
Other	`OtherCostAndExpenseOperating`	$16.00M	USD	1 Quarter
Other	`OtherCostAndExpenseOperating`	$20.00M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$7.40B	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$6.19B	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$372.00M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$335.00M	USD	1 Quarter
Interest expense	`InterestExpense`	$30.00M	USD	1 Quarter
Interest expense	`InterestExpense`	$28.00M	USD	1 Quarter
Total other expenses, net	`NonoperatingIncomeExpense`	$-28.00M	USD	1 Quarter
Total other expenses, net	`NonoperatingIncomeExpense`	$-30.00M	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$305.00M	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$344.00M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$86.00M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$77.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$228.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$258.00M	USD	1 Quarter
Net income per share - Basic (in dollars per share)	`EarningsPerShareBasic`	$3.95	USD	1 Quarter
Net income per share - Basic (in dollars per share)	`EarningsPerShareBasic`	$4.45	USD	1 Quarter
Net income per share - Diluted (in dollars per share)	`EarningsPerShareDiluted`	$3.89	USD	1 Quarter
Net income per share - Diluted (in dollars per share)	`EarningsPerShareDiluted`	$4.39	USD	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$228.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$258.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$40.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$33.00M	USD	1 Quarter
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$-16.00M	USD	1 Quarter
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$-6.00M	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$24.00M	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$34.00M	USD	1 Quarter
Other, net	`OtherOperatingActivitiesCashFlowStatement`	$-8.00M	USD	1 Quarter
Other, net	`OtherOperatingActivitiesCashFlowStatement`	$12.00M	USD	1 Quarter
Receivables	`IncreaseDecreaseInReceivables`	$98.00M	USD	1 Quarter
Receivables	`IncreaseDecreaseInReceivables`	$-21.00M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$15.00M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$32.00M	USD	1 Quarter
Medical claims and benefits payable	`IncreaseDecreaseInHealthCareInsuranceLiabilities`	$263.00M	USD	1 Quarter
Medical claims and benefits payable	`IncreaseDecreaseInHealthCareInsuranceLiabilities`	$168.00M	USD	1 Quarter
Amounts due government agencies	`IncreaseDecreaseInMedicalPremiumLiabilityDueToAgency`	$432.00M	USD	1 Quarter
Amounts due government agencies	`IncreaseDecreaseInMedicalPremiumLiabilityDueToAgency`	$137.00M	USD	1 Quarter
Accounts payable, accrued liabilities and other	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$16.00M	USD	1 Quarter
Accounts payable, accrued liabilities and other	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-81.00M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$-304.00M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$-352.00M	USD	1 Quarter
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$67.00M	USD	1 Quarter
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$66.00M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$363.00M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$568.00M	USD	1 Quarter
Purchases of investments	`PaymentsToAcquireMarketableSecurities`	$388.00M	USD	1 Quarter
Purchases of investments	`PaymentsToAcquireMarketableSecurities`	$403.00M	USD	1 Quarter
Proceeds from sales and maturities of investments	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$308.00M	USD	1 Quarter
Proceeds from sales and maturities of investments	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$513.00M	USD	1 Quarter
Purchases of property, equipment and capitalized software	`PaymentsToAcquirePropertyPlantAndEquipment`	$23.00M	USD	1 Quarter
Purchases of property, equipment and capitalized software	`PaymentsToAcquirePropertyPlantAndEquipment`	$16.00M	USD	1 Quarter
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$13.00M	USD	1 Quarter
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$-9.00M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-87.00M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$74.00M	USD	1 Quarter
Common stock withheld to settle employee tax obligations	`CommonStockWithheldToSettleEmployeeTaxObligations`	$52.00M	USD	1 Quarter
Common stock withheld to settle employee tax obligations	`CommonStockWithheldToSettleEmployeeTaxObligations`	$51.00M	USD	1 Quarter
Contingent consideration liabilities settled	`PaymentForContingentConsiderationLiabilityFinancingActivities`	$20.00M	USD	1 Quarter
Contingent consideration liabilities settled	`PaymentForContingentConsiderationLiabilityFinancingActivities`	$20.00M	USD	1 Quarter
Common stock purchases	`PaymentsForRepurchaseOfCommonStock`	-	USD	1 Quarter
Common stock purchases	`PaymentsForRepurchaseOfCommonStock`	$128.00M	USD	1 Quarter
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-8.00M	USD	1 Quarter
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-5.00M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-207.00M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-77.00M	USD	1 Quarter
Net increase in cash, cash equivalents, and restricted cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$274.00M	USD	1 Quarter
Net increase in cash, cash equivalents, and restricted cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$360.00M	USD	1 Quarter
Cash, cash equivalents, and restricted cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$4.87B	USD	Point-in-time
Cash, cash equivalents, and restricted cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$4.22B	USD	Point-in-time
Cash, cash equivalents, and restricted cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$4.50B	USD	Point-in-time
Cash, cash equivalents, and restricted cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$4.51B	USD	Point-in-time
Cash, cash equivalents, and restricted cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$4.50B	USD	Point-in-time
Cash, cash equivalents, and restricted cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$4.51B	USD	Point-in-time
Cash, cash equivalents, and restricted cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$4.22B	USD	Point-in-time
Cash, cash equivalents, and restricted cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$4.87B	USD	Point-in-time

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$2.10B	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$2.63B	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$2.16B	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$2.79B	USD	Point-in-time
Net income	`NetIncomeLoss`	$228.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$258.00M	USD	1 Quarter
Other comprehensive loss, net	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-76.00M	USD	1 Quarter
Other comprehensive loss, net	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-11.00M	USD	1 Quarter
Common stock purchases	`StockRepurchasedDuringPeriodValue`	$122.00M	USD	1 Quarter
Share-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$-27.00M	USD	1 Quarter
Share-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$-18.00M	USD	1 Quarter
Ending balance	`StockholdersEquity`	$2.10B	USD	Point-in-time
Ending balance	`StockholdersEquity`	$2.63B	USD	Point-in-time
Ending balance	`StockholdersEquity`	$2.16B	USD	Point-in-time
Ending balance	`StockholdersEquity`	$2.79B	USD	Point-in-time

Comprehensive Income 10 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$228.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$258.00M	USD	1 Quarter
Unrealized investment loss	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax`	$-100.00M	USD	1 Quarter
Unrealized investment loss	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax`	$-15.00M	USD	1 Quarter
Less: effect of income taxes	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax`	$-4.00M	USD	1 Quarter
Less: effect of income taxes	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax`	$-24.00M	USD	1 Quarter
Other comprehensive loss, net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-76.00M	USD	1 Quarter
Other comprehensive loss, net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-11.00M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$217.00M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$182.00M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.