10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ELEVANCE HEALTH, INC. | |||
Ticker: ELV Fiscal Year: 2019 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2019 10-K (Filed: Feb 19, 2020) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
| Revenues | |||
| Premiums | $ 94,173 | 85,421 | 83,648 |
| Administrative fees and other revenue | 8,968 | 5,920 | 5,413 |
| Total operating revenue | 103,141 | 91,341 | 89,061 |
| Net investment income | 1,005 | 970 | 867 |
| Net realized gains (losses) on financial instruments | 114 | (180) | 145 |
| Other than temporary impairment losses on investments: | |||
| Total other-than-temporary impairment losses on investments | (53) | (29) | (35) |
| Portion of other-than-temporary impairment losses recognized in other comprehensive income | 6 | 3 | 2 |
| Other-than-temporary impairment losses recognized in income | (47) | (26) | (33) |
| Total revenues | 104,213 | 92,105 | 90,040 |
| Expenses | |||
| Benefit expense | 81,786 | 71,895 | 72,236 |
| Cost of products sold | 1,992 | 0 | 0 |
| Selling, general and administrative expense | 13,364 | 14,020 | 12,650 |
| Interest expense | 746 | 753 | 739 |
| Amortization of other intangible assets | 338 | 358 | 169 |
| Loss on extinguishment of debt | 2 | 11 | 282 |
| Total expenses | 98,228 | 87,037 | 86,076 |
| Income before income tax expense | 5,985 | 5,068 | 3,964 |
| Income tax expense | 1,178 | 1,318 | 121 |
| Net income | 4,807 | 3,750 | 3,843 |
| Net income per share | |||
| Basic net income per share | 18.81 | 14.53 | 14.70 |
| Diluted net income per share: | |||
| Diluted net income per share | 18.47 | 14.19 | 14.35 |
| Dividends per share | 3.20 | 3.00 | 2.70 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ELEVANCE HEALTH, INC. | |||
Ticker: ELV Fiscal Year: 2019 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2019 10-K (Filed: Feb 19, 2020) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
| Net income | $ 4,807 | 3,750 | 3,843 |
| Other comprehensive income (loss), net of tax: | |||
| Change in net unrealized gains/losses on investments | 680 | (418) | 173 |
| Change in non-credit component of other-than-ternporary impairment losses on investments | 0 | (2) | 4 |
| Change in net unrealized gains/losses on cash flow hedges | (16) | 37 | (65) |
| Change in net periodic pension and postretirement costs | 26 | (90) | 51 |
| Foreign currency translation adjustments | 0 | (1) | 3 |
| Other comprehensive income (loss) | 690 | (474) | 166 |
| Total comprehensive income | 5,497 | 3,276 | 4,009 |
| Equity Components | |||
| Retained Earnings | |||
| Net income | 3,750 | 3,843 | |
| Consolidated Entities | |||
| Anthem, Inc. | |||
| Net income | 4,807 | 3,750 | 3,843 |
| Change in net unrealized gains/losses on investments | 680 | (418) | 173 |
| Change in non-credit component of other-than-ternporary impairment losses on investments | 0 | (2) | 4 |
| Change in net unrealized gains/losses on cash flow hedges | (16) | 37 | (65) |
| Change in net periodic pension and postretirement costs | 26 | (90) | 51 |
| Foreign currency translation adjustments | 0 | (1) | 3 |
| Other comprehensive income (loss) | 690 | (474) | 166 |
| Total comprehensive income | 5,497 | 3,276 | 4,009 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ELEVANCE HEALTH, INC. | |||
Ticker: ELV Fiscal Year: 2019 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2019 10-K (Filed: Feb 19, 2020) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
| Operating activities | |||
| Net income | $ 4,807 | 3,750 | 3,843 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Net realized (gains) losses on financial instruments | (114) | 180 | (145) |
| Other-than-temporary impairment losses recognized in income | 47 | 26 | 33 |
| Loss on extinguishment of debt | 2 | 11 | 282 |
| Loss on disposal of assets | 3 | 13 | 15 |
| Deferred income taxes | 81 | 91 | (1,272) |
| Amortization, net of accretion | 986 | 1,008 | 780 |
| Depreciation expense | 147 | 124 | 111 |
| Share-based compensation | 294 | 226 | 170 |
| Changes in operating assets and liabilities: | |||
| Receivables, net | (1,053) | (695) | (22) |
| Other invested assets | (48) | (1) | (36) |
| Other assets | (170) | (26) | (629) |
| Policy liabilities | 1,826 | (1,059) | 732 |
| Unearned income | 115 | (36) | (120) |
| Accounts payable and accrued expenses | (593) | 122 | 922 |
| Other liabilities | 148 | (25) | (120) |
| Income taxes | (325) | 323 | (194) |
| Other, net | (92) | (205) | (165) |
| Net cash provided by operating activities | 6,061 | 3,827 | 4,185 |
| Investing activities | |||
| Purchases of fixed maturity securities | (10,487) | (8,244) | (9,795) |
| Proceeds from fixed maturity securities: | |||
| Sales | 5,914 | 6,442 | 7,932 |
| Maturities, calls and redemptions | 2,437 | 1,938 | 1,848 |
| Purchases of equity securities | (11,825) | (896) | (5,416) |
| Proceeds from sales of equity securities | 12,364 | 2,809 | 3,463 |
| Purchases of other invested assets | (642) | (531) | (1,164) |
| Proceeds from sales of other invested assets | 320 | 411 | 219 |
| Changes in collateral and settlement of non-hedging derivatives | 0 | 0 | 65 |
| Changes in securities lending collateral | 254 | (149) | 625 |
| Purchases of subsidiaries, net of cash acquired | 0 | (1,760) | (2,080) |
| Purchases of property and equipment | (1,077) | (1,208) | (791) |
| Other, net | (50) | (71) | 12 |
| Net cash used in investing activities | (2,792) | (1,259) | (5,082) |
| Financing activities | |||
| Net (repayments of) proceeds from commercial paper borrowings | (297) | (107) | 175 |
| Proceeds from long-term borrowings | 2,473 | 835 | 5,458 |
| Repayments of long-term borrowings | (1,123) | (1,684) | (2,815) |
| Proceeds from short-term borrowings | 7,590 | 9,120 | 5,835 |
| Repayments of short-term borrowings | (8,035) | (9,250) | (5,000) |
| Changes in securities lending payable | (254) | 150 | (625) |
| Changes in bank overdrafts | (169) | (210) | 71 |
| Premiums paid on equity call options | (1) | 0 | |
| Proceeds from sale of put options | 0 | 1 | 1 |
| Proceeds from issuance of common stock under Equity Units stock purchase agreements | 0 | 1,250 | 0 |
| Repurchase and retirement of common stock | (1,701) | (1,685) | (1,998) |
| Change in collateral and settlements of debt-related derivatives | (34) | 23 | (149) |
| Cash dividends | (818) | (776) | (705) |
| Proceeds from issuance of common stock under employee stock plans | 187 | 173 | 225 |
| Taxes paid through withholding of common stock under employee stock plans | (84) | (81) | (46) |
| Net cash (used in) provided by financing activities | (2,266) | (2,241) | 427 |
| Effect of foreign exchange rates on cash and cash equivalents | 0 | (2) | 4 |
| Change in cash and cash equivalents | 1,003 | 325 | (466) |
| Cash and cash equivalents at beginning of year | 3,934 | 3,609 | |
| Cash and cash equivalents at end of year | 4,937 | 3,934 | 3,609 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
ELEVANCE HEALTH, INC. | ||
Ticker: ELV Fiscal Year: 2019 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2019 10-K (Filed: Feb 19, 2020) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2019 | Dec 31, 2018 | |
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $ 4,937 | 3,934 |
| Fixed maturity securities, current (amortized cost of $19,021 and $16,894) | 19,676 | 16,692 |
| Equity Securities, current | 1,009 | 1,493 |
| Other invested assets, current | 13 | 21 |
| Accrued investment income | 173 | 162 |
| Premiums Receivable, Net | 5,173 | 4,465 |
| Self-Funded Receivables, Net | 2,411 | 2,278 |
| Other receivables | 2,634 | 2,558 |
| Income taxes receivable | 335 | 10 |
| Securities lending collateral | 353 | 604 |
| Other current assets | 2,319 | 2,104 |
| Total current assets | 39,033 | 34,321 |
| Fixed maturity securities (amortized cost of $487 and $486) | 505 | 487 |
| Equity securities | 30 | 33 |
| Other invested assets, long-term | 4,228 | 3,726 |
| Property and equipment, net | 3,133 | 2,735 |
| Goodwill | 20,500 | 20,504 |
| Other intangible assets | 8,674 | 9,007 |
| Other noncurrent assets | 1,350 | 758 |
| Total assets | 77,453 | 71,571 |
| Liabilities and shareholders' equity | ||
| Medical claims payable | 8,842 | 7,454 |
| Reserves for future policy benefits | 85 | 75 |
| Other policyholder liabilities | 3,050 | 2,590 |
| Total policy liabilities | 11,977 | 10,119 |
| Unearned income | 1,017 | 902 |
| Accounts payable and accrued expenses | 4,198 | 4,959 |
| Security trades pending payable | 84 | 197 |
| Securities lending payable | 351 | 604 |
| Short-term borrowings | 700 | 1,145 |
| Current portion of long-term debt | 1,598 | 849 |
| Other current liabilities | 3,692 | 3,190 |
| Total current liabilities | 23,617 | 21,965 |
| Long-term debt, less current portion | 17,787 | 17,217 |
| Reserves for future policy benefits, noncurrent | 674 | 706 |
| Deferred tax liabilities, net | 2,227 | 1,960 |
| Other noncurrent liabilities | 1,420 | 1,182 |
| Total liabilities | 45,725 | 43,030 |
| Commitments and contingencies-Note 13 | ||
| Shareholders' equity | ||
| Preferred stock, without par value, shares authorized - 100,000,000; shares issued and outstanding - none | 0 | 0 |
| Common stock, par value $0.01, shares authorized - 900,000,000; shares issued and outstanding - 252,922,161 and 257,395,577 | 3 | 3 |
| Additional paid-in capital | 9,448 | 9,536 |
| Retained earnings | 22,573 | 19,988 |
| Accumulated other comprehensive loss | (296) | (986) |
| Total shareholders' equity | 31,728 | 28,541 |
| Total liabilities and shareholders' equity | 77,453 | 71,571 |
| External Links | |
| ELEVANCE HEALTH, INC. (ELV) Fiscal Year 2019 | |
| Statements of 10-K in Excel | https://www.sec.gov/.../Financial.xlxs |
| Complete 10-K in HTML | https://www.sec.gov/.../10-K.html |
| Complete 10-K in XBRL | https://www.sec.gov/.../10-K-xbrl.zip |