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: 2021 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 16, 2022) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
| Revenues | |||
| Premiums | $ 117,373 | 104,109 | 94,173 |
| Product revenue | 12,657 | 10,384 | 2,760 |
| Administrative fees and other revenue | 6,913 | 6,315 | 6,208 |
| Total operating revenue | 136,943 | 120,808 | 103,141 |
| Net investment income | 1,378 | 877 | 1,005 |
| Net gains on financial instruments | 318 | 182 | 67 |
| Total revenues | 138,639 | 121,867 | 104,213 |
| Expenses | |||
| Benefit expense | 102,645 | 88,045 | 81,786 |
| Cost of products sold | 10,895 | 8,953 | 1,992 |
| Selling, general and administrative expense | 15,914 | 17,450 | 13,364 |
| Interest expense | 798 | 784 | 746 |
| Amortization of other intangible assets | 441 | 361 | 338 |
| Loss on extinguishment of debt | 21 | 36 | 2 |
| Total expenses | 130,714 | 115,629 | 98,228 |
| Income before income tax expense | 7,925 | 6,238 | 5,985 |
| Income tax expense | 1,830 | 1,666 | 1,178 |
| Net income | 6,095 | 4,572 | 4,807 |
| Net loss attributable to noncontrolling interests | 9 | 0 | 0 |
| Shareholders net income | 6,104 | 4,572 | 4,807 |
| Shareholders net income per share | |||
| Basic net income per share | 25.04 | 18.23 | 18.81 |
| Diluted net income per share | 24.73 | 17.98 | 18.47 |
| Dividends per share | 4.52 | 3.80 | 3.20 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ELEVANCE HEALTH, INC. | |||
Ticker: ELV Fiscal Year: 2021 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 16, 2022) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
| Net Income | $ 6,095 | 4,572 | 4,807 |
| Other comprehensive income (loss), net of tax: | |||
| Change in net unrealized gains/losses on investments | (457) | 428 | 680 |
| Change in non-credit component of impairment losses on investments, net of tax | 2 | 0 | 0 |
| Change in net unrealized gains/losses on cash flow hedges | 11 | 12 | (16) |
| Change in net periodic pension and postretirement costs | 123 | (1) | 26 |
| Foreign currency translation adjustments | (9) | 7 | 0 |
| Other comprehensive (loss) income | (330) | 446 | 690 |
| Net loss attributable to noncontrolling interests | 9 | 0 | 0 |
| Other comprehensive loss attributable to noncontrolling interests | 2 | 0 | 0 |
| Total shareholders comprehensive income | 5,776 | 5,018 | 5,497 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ELEVANCE HEALTH, INC. | |||
Ticker: ELV Fiscal Year: 2021 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 16, 2022) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
| Operating activities | |||
| Net Income | $ 6,095 | 4,572 | 4,807 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Net gains on financial instruments | (318) | (182) | (67) |
| Equity in net earnings of other invested assets | (562) | (51) | (93) |
| Depreciation and amortization | 1,302 | 1,154 | 1,133 |
| Deferred income taxes | 326 | (540) | 81 |
| Impairment of property and equipment | 73 | 198 | 0 |
| Share-based compensation | 255 | 283 | 294 |
| Changes in operating assets and liabilities: | |||
| Receivables, net | (2,138) | (256) | (1,053) |
| Other invested assets | (70) | (32) | (48) |
| Other assets | 37 | (283) | (170) |
| Policy liabilities | 2,597 | 3,528 | 1,826 |
| Unearned income | (113) | 202 | 115 |
| Accounts payable and other liabilities | 719 | 1,978 | (445) |
| Income taxes | 140 | 72 | (325) |
| Other, net | 21 | 45 | 6 |
| Net cash provided by operating activities | 8,364 | 10,688 | 6,061 |
| Investing activities | |||
| Purchases of investments | (18,669) | (19,492) | (22,954) |
| Proceeds from sale of investments | 10,269 | 11,318 | 18,598 |
| Maturities, calls and redemptions from investments | 4,344 | 4,741 | 2,437 |
| Changes in securities lending collateral | (956) | (849) | 254 |
| Purchases of subsidiaries, net of cash acquired | (3,476) | (1,976) | 0 |
| Purchases of property and equipment | (1,087) | (1,021) | (1,077) |
| Other, net | (63) | (45) | (50) |
| Net cash used in investing activities | (9,638) | (7,324) | (2,792) |
| Financing activities | |||
| Net proceeds from (repayments of) commercial paper borrowings | 50 | (150) | (297) |
| Proceeds from long-term borrowings | 3,462 | 2,484 | 2,473 |
| Repayments of long-term borrowings | (1,068) | (1,932) | (1,123) |
| Proceeds from short-term borrowings | 1,325 | 970 | 7,590 |
| Repayments of short-term borrowings | (1,050) | (1,670) | (8,035) |
| Changes in securities lending payable | 956 | 849 | (254) |
| Repurchase and retirement of common stock | (1,900) | (2,700) | (1,701) |
| Cash dividends | (1,104) | (954) | (818) |
| Proceeds from issuance of common stock under employee stock plans | 203 | 176 | 187 |
| Taxes paid through withholding of common stock under employee stock plans | (102) | (128) | (84) |
| Other, net | (349) | 488 | (204) |
| Net cash provided by (used in) financing activities | 423 | (2,567) | (2,266) |
| Effect of foreign exchange rates on cash and cash equivalents | (10) | 7 | 0 |
| Change in cash and cash equivalents | (861) | 804 | 1,003 |
| Cash and cash equivalents at beginning of year | 5,741 | 4,937 | |
| Cash and cash equivalents at end of year | 4,880 | 5,741 | 4,937 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
ELEVANCE HEALTH, INC. | ||
Ticker: ELV Fiscal Year: 2021 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2021 10-K (Filed: Feb 16, 2022) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2021 | Dec 31, 2020 | |
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $ 4,880 | 5,741 |
| Fixed maturity securities, current, amortized cost | 26,267 | 23,433 |
| Equity securities | 1,881 | 1,559 |
| Premium receivables | 5,681 | 5,279 |
| Self-funded receivables | 4,010 | 2,849 |
| Other receivables | 3,749 | 2,830 |
| Other current assets | 4,654 | 4,060 |
| Total current assets | 51,122 | 45,751 |
| Fixed maturity securities, long-term, amortized cost | 632 | 562 |
| Other invested assets, long-term | 5,225 | 4,285 |
| Property and equipment, net | 3,919 | 3,483 |
| Goodwill | 24,228 | 21,691 |
| Total intangible assets | 10,615 | 9,405 |
| Other noncurrent assets | 1,719 | 1,438 |
| Total assets | 97,460 | 86,615 |
| Liabilities and shareholders' equity | ||
| Medical claims payable | 13,518 | 11,359 |
| Other policyholder liabilities | 5,521 | 4,590 |
| Unearned income | 1,153 | 1,259 |
| Accounts payable and accrued expenses | 4,970 | 5,493 |
| Short-term borrowings | 275 | 0 |
| Current portion of long-term debt | 1,599 | 700 |
| Other current liabilities | 7,849 | 6,052 |
| Total current liabilities | 34,885 | 29,453 |
| Long-term debt, less current portion | 21,157 | 19,335 |
| Reserves for future policy benefits | 802 | 794 |
| Deferred tax liabilities, net | 2,805 | 2,019 |
| Other noncurrent liabilities | 1,683 | 1,815 |
| Total liabilities | 61,332 | 53,416 |
| Commitments and contingenciesNote 14 | ||
| 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 - 241,770,746 and 245,401,430 | 2 | 3 |
| Additional paid-in capital | 9,148 | 9,244 |
| Retained earnings | 27,088 | 23,802 |
| Accumulated other comprehensive (loss) income | (178) | 150 |
| Total shareholders' equity | 36,060 | 33,199 |
| Noncontrolling interests | 68 | 0 |
| Total equity | 36,128 | 33,199 |
| Total liabilities and shareholders' equity | 97,460 | 86,615 |
| External Links | |
| ELEVANCE HEALTH, INC. (ELV) Fiscal Year 2021 | |
| 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 |