Humana Inc. Files 10-Q for Period Ending March 31, 2024

AI Summary

HUMANA INC (HUM) filed a Quarterly Report (10-Q) with the SEC on April 24, 2024. Humana Inc. filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of the fiscal year 2024. The company's principal executive offices are located at 500 W Main St, Louisville, KY. Humana Inc. was formerly known as Extendicare Inc. and Heritage House of America Inc. The filing includes financial data related to common stock, additional paid-in capital, retained earnings, and other comprehensive income.

Why It Matters

For investors and stakeholders tracking HUMANA INC, this filing contains several important signals. This filing provides investors and analysts with the latest financial performance and disclosures for Humana Inc. in the first quarter of 2024. Understanding the details within this 10-Q is crucial for assessing the company's current financial health, strategic direction, and potential risks.

Risk Assessment

Risk Level: medium — HUMANA INC shows moderate risk based on this filing. The filing is a standard quarterly report (10-Q), which typically contains routine financial information and does not indicate any immediate, severe risks beyond normal business operations.

Analyst Insight

Review the detailed financial statements and any new disclosures within the 10-Q to understand Humana's performance and outlook for the remainder of 2024.

Key Numbers

• 2024-03-31 — Period End Date (CONFORMED PERIOD OF REPORT)
• 2024-04-24 — Filing Date (FILED AS OF DATE)
• 0000049071 — Central Index Key (FILER)
• 6324 — Standard Industrial Classification (SIC Code for HOSPITAL & MEDICAL SERVICE PLANS)
• 610647538 — IRS Number (FILER)
• DE — State of Incorporation (FILER)
• 1231 — Fiscal Year End (FILER)
• 20240424154725 — Accession Number (Document Identifier)

Key Players & Entities

• HUMANA INC (company) — FILER
• 20240331 (date) — CONFORMED PERIOD OF REPORT
• 20240424 (date) — FILED AS OF DATE
• 500 W MAIN ST (address) — BUSINESS ADDRESS
• LOUISVILLE (city) — BUSINESS ADDRESS
• KY (state) — BUSINESS ADDRESS
• 40202 (zip_code) — BUSINESS ADDRESS
• EXTENDICARE INC (company) — FORMER COMPANY

FAQ

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-04-24: Filing Date — Date the 10-Q report was officially submitted to the SEC.

Key Financial Figures

• $0.16 — ange on which registered Common stock, $0.16 2/3 par value HUM New York Stock Exchan

Filing Documents

• hum-20240331.htm (10-Q) — 1666KB
• hum-20240331xex31x1.htm (EX-31.1) — 9KB
• hum-20240331xex31.htm (EX-31.2) — 10KB
• hum-20240331xex32.htm (EX-32) — 6KB
• 0000049071-24-000023.txt ( ) — 9084KB
• hum-20240331.xsd (EX-101.SCH) — 53KB
• hum-20240331_cal.xml (EX-101.CAL) — 97KB
• hum-20240331_def.xml (EX-101.DEF) — 263KB
• hum-20240331_lab.xml (EX-101.LAB) — 710KB
• hum-20240331_pre.xml (EX-101.PRE) — 489KB
• hum-20240331_htm.xml (XML) — 1686KB

: Financial Information

Part I: Financial Information

Financial Statements

Item 1. Financial Statements Condensed Consolidated Balance Sheets (Unaudited) at March 31, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Income (Unaudited) for the three months ended March 31, 2024 and 2023 4 Condensed Consolidated Statements of Comprehensive Income (Unaudited) for the three months ended March 31, 2024 and 2023 5 Condensed Consolidated Statements of Stockholders' Equity (Unaudited) for the three months ended March 31, 2024 and 2023 6 Condensed Consolidated Statements of Cash Flows (Unaudited) for the three months ended March 31, 2024 and 2023 7 Notes to Condensed Consolidated Financial Statements (Unaudited) 9

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 31

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 46

Controls and Procedures

Item 4. Controls and Procedures 46

: Other Information

Part II: Other Information

Legal Proceedings

Item 1. Legal Proceedings 47

Risk Factors

Item 1A. Risk Factors 47

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 47

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 47

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 47

Other Information

Item 5. Other Information 48

Exhibits

Item 6. Exhibits 49

Signatures

Signatures 50 Certifications Humana Inc. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) March 31, 2024 December 31, 2023 (in millions, except share amounts) ASSETS Current assets: Cash and cash equivalents $ 5,910 $ 4,694 Investment securities 16,697 16,626 Receivables, net of allowances of $ 85 in 2024 and $ 88 in 2023 3,925 2,035 Other current assets 6,264 6,631 Total current assets 32,796 29,986 Property and equipment, net 2,979 3,030 Long-term investment securities 380 382 Equity method investments 730 740 Goodwill 9,563 9,550 Other long-term assets 3,643 3,377 Total assets $ 50,091 $ 47,065 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Benefits payable $ 11,729 $ 10,241 Trade accounts payable and accrued expenses 6,504 6,569 Book overdraft 333 353 Unearned revenues 301 266 Short-term debt 822 1,443 Total current liabilities 19,689 18,872 Long-term debt 12,390 10,213 Other long-term liabilities 1,826 1,662 Total liabilities 33,905 30,747 Commitments and Contingencies (Note 13) Stockholders' equity: Preferred stock, $ 1 par; 10,000,000 shares authorized; none issued — — Common stock, $0.16 2/3 par; 300,000,000 shares authorized; 198,690,593 shares issued at March 31, 2024 and 198,690,082 shares issued at December 31, 2023 33 33 Capital in excess of par value 3,369 3,346 Retained earnings 28,173 27,540 Accumulated other comprehensive loss ( 1,086 ) ( 999 ) Treasury stock, at cost, 78,189,958 shares at March 31, 2024 and 76,465,862 shares at December 31, 2023 ( 14,359 ) ( 13,658 ) Total stockholders' equity 16,130 16,262 Noncontrolling interests 56 56 Total equity 16,186 16,318 Total liabilities and equity $ 50,091 $ 47,065 See accompanying notes to condensed consolidated financial statements. 3 Humana Inc. CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) Three Months Ended March 31, 2024 2023 (in millions, except per share results) Revenues: Premiums $ 28,261 $ 25,550 Ser

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View this 10-Q filing on SEC EDGAR