Investor Presentaiton
Cash flow and strategic capital deployment
Strong cash flow generation and commitment to investment grade ratings
•
Powerful cash generation
In Q4 2021, generated $4.0 billion of
cash flow from operations
⚫ In 2021, generated $18.3 billion of
cash flow from operations; ~15%
growth over prior year
Since 2016, generated ~$64 billion in
cash flow from operations¹
.
Significant debt paydown
Paid down $2.3 billion of long-term
debt during Q4 2021 and net $8.8
billion in 2021
Repaid net $21 billion of long-term
debt since the close of the Aetna
transaction
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.
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Returning value to shareholders
Raised annual dividend 10% to $2.20
per share effective February 1, 2022
In Q4 2021, paid $660 million in
shareholder dividends
Paid $2.6 billion in shareholder
dividends in 2021
Introduced a $10 billion share
repurchase program; to offset
dilution in 2022
10
1 Calculation through year-end 2021.
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