Company: HUM
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0000049071-25-000042
Chunk: 14

Company: HUMANA INC
Filing Date: 2025-07-30
Form: 10-Q
Item: Item 2
Chunk 14
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 earnings per common share was as follows for the 2025 and 2024 quarter and period:

For the three months ended June 30,For the six months ended June 30,2025202420252024(in millions)Consolidated income before income taxes and equity in net losses:Put/call valuation adjustments associated with our non consolidating minority interest investments$200 $68 $363 $199 Impairment charges32 — 32 — Value creation initiatives29 68 53 97 Total$261 $136 $448 $296 For the three months ended June 30,For the six months ended June 30,2025202420252024Diluted earnings per common share:Put/call valuation adjustments associated with our non consolidating minority interest investments$1.66 $0.57 $3.01 $1.65 Impairment charges0.27 — 0.26 — Value creation initiatives0.24 0.56 0.44 0.80 Cumulative net tax impact(0.50)(0.26)(0.86)(0.57)Total$1.67 $0.87 $2.85 $1.88 

36

Regulatory Environment

We are and will continue to be regularly subject to new laws and regulations, changes to existing laws and regulations, and judicial determinations that impact the interpretation and applicability of those laws and regulations. The Health Care Reform Law, the Families First Act, the CARES Act, and the Inflation Reduction Act, and related regulations, are examples of laws which have enacted significant reforms to various aspects of the U.S. health insurance industry, including, among others, mandated coverage requirements, mandated benefits and guarantee issuance associated with insurance products, rebates to policyholders based on minimum benefit ratios, adjustments to Medicare Advantage premiums, the establishment of federally facilitated or state-based exchanges coupled with programs designed to spread risk among insurers, and the introduction of plan designs based on set actuarial values, and changes to the Part D prescription drug benefit design.

It is reasonably possible that these laws and regulations, as well as other current or future legislative, judicial or regulatory changes including restrictions on our ability to manage our provider network, manage and sell our products, or otherwise operate our business, or restrictions on profitability, including reviews by regulatory bodies that may compare our Medicare Advantage profitability to our non-Medicare Advantage business profitability