UNH · 10-Q · 2026Q2 · Full report

Operating Expense Trends

UNITEDHEALTH GROUP INC · 2026-08-10 · Importance 55 · Surprise 32

Six-month operating costs increased $2.286 billion, or 8%, to $29.658 billion, while the operating cost ratio increased 0.9 percentage points to 13.3%. The higher ratio reflected investments in people, process, and technology, business mix, and the six-month effects of restructuring and other actions. These increases were partly offset by operating cost management and revenue effects from government programs. Depreciation and amortization decreased $76 million, or 4%, to $2.069 billion for the first six months.

Key facts

• Operating costs for the three months ended June 30, 2026: $14,268 million compared to $13,778 million in 2025 (increase of $490 million). source
• Total operating costs for the three months ended June 30, 2026: $104,041 million compared to $106,466 million in 2025 (decrease of $2,425 million, (2)%). source
• The operating cost ratio increased to 12.7% for the three months ended June 30, 2026 from 12.3% in 2025 (increase of 0.4 percentage points). source