“As we look ahead, we expect leverage to continue improving through the year supported by strong cash generation and a more stable operating environment. And to reach our long term debt to capital target of approximately 40% before year end.”

In context

“ith prior years, we expect the first half medical care ratio to be notably below the midpoint with the second half notably above. The operating cost ratio is expected to be 12.8% plus or minus 50 basis points. This reflects disciplined cost management, ongoing productivity initiatives, and the early benefits of our investments in artificial intelligence. While also incorporating required investments in people, and technology. Our 2026 outlook reflects the realignment of Optum Financial Services from OptumHealth into OptumInsight. We believe this better optimizes the Optum portfolio aligns with how we expect to engage the marketplace and grow through the Optum AI network. Finally, on capital and liquidity, For 2026, we expect our dividend to remain well supported by earnings and cash flow. As we look ahead, we expect leverage to continue improving through the year supported by strong cash generation and a more stable operating environment. And to reach our long term debt to capital target of approximately 40% before year end. And as this progress continues, we expect to return to our historical capital deployment practices in the second half of the year. Before closing, I wanna echo what Steve Tim, and Patrick have said about the people of UnitedHealth Group. 2025 was a year of challenges on multiple fronts. Our team stepped up, embraced those challenges, and remained focused on delivering for the people we serve. Now I'll turn it back to Steve for some closing remarks. Stephen Hemsley: Thanks Wayne. I hope everyone is getting the sense from today's comments that we're returning to the operating and executional focus and the quality financial disciplines that have served us well. Details matter in these businesses. These approaches are essential to enable us to better serve customers and consumers, and the exp”