10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CVS HEALTH CORP | |||
Ticker: CVS Fiscal Year: 2019 | |||
Consolidated Statements of Operations | |||
Period Ending Dec 31, 2019 10-K (Filed: Feb 18, 2020) | |||
| (In Millions) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
| Revenues: | |||
| Premiums | $ 63,122 | 8,184 | 3,558 |
| Net investment income | 1,011 | 660 | 21 |
| Total revenues | 256,776 | 194,579 | 184,786 |
| Operating costs: | |||
| Cost of products sold | 158,719 | 156,447 | 153,448 |
| Benefit costs | 52,529 | 6,594 | 2,810 |
| Goodwill impairments | 0 | 6,149 | 181 |
| Operating expenses | 33,541 | 21,368 | 18,809 |
| Total operating costs | 244,789 | 190,558 | 175,248 |
| Operating income | 11,987 | 4,021 | 9,538 |
| Interest expense | 3,035 | 2,619 | 1,062 |
| Loss on early extinguishment of debt | 79 | 0 | 0 |
| Other expense (income) | (124) | (4) | 208 |
| Income before income tax provision | 8,997 | 1,406 | 8,268 |
| Income tax provision | 2,366 | 2,002 | 1,637 |
| Income (loss) from continuing operations | 6,631 | (596) | 6,631 |
| Loss from discontinued operations, net of tax | 0 | 0 | (8) |
| Net income (loss) | 6,631 | (596) | 6,623 |
| Net (income) loss attributable to noncontrolling interests | 3 | 2 | (1) |
| Net income (loss) attributable to CVS Health | 6,634 | (594) | 6,622 |
| Basic earnings (loss) per share: | |||
| Income (loss) from continuing operations attributable to CVS Health (in dollars per share) | 5.10 | (0.57) | 6.48 |
| Loss from discontinued operations attributable to CVS Health (in dollars per share) | 0.00 | 0.00 | (0.01) |
| Net income (loss) attributable to CVS Health (in dollars per share) | 5.10 | (0.57) | 6.47 |
| Weighted average basic shares outstanding (in shares) | 1,301 | 1,044 | 1,020 |
| Diluted earnings (loss) per share: | |||
| Income (loss) from continuing operations attributable to CVS Health (in dollars per share) | 5.08 | (0.57) | 6.45 |
| Loss from discontinued operations attributable to CVS Health (in dollars per share) | 0.00 | 0.00 | (0.01) |
| Net income (loss) attributable to CVS Health (in dollars per share) | 5.08 | (0.57) | 6.44 |
| Weighted average diluted shares outstanding (in shares) | 1,305 | 1,044 | 1,024 |
| Dividends declared per share (in dollars per share) | 2.00 | 2.00 | 2.00 |
| Product and Service | |||
| Products | |||
| Revenues | 185,236 | 183,910 | 180,063 |
| Services | |||
| Revenues | 7,407 | 1,825 | 1,144 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CVS HEALTH CORP | |||
Ticker: CVS Fiscal Year: 2019 | |||
Consolidated Statements of Comprehensive Income (Loss) | |||
Period Ending Dec 31, 2019 10-K (Filed: Feb 18, 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 (loss) | $ 6,631 | (596) | 6,623 |
| Other comprehensive income (loss), net of tax: | |||
| Net unrealized investment gains | 677 | 97 | 0 |
| Foreign currency translation adjustments | 162 | (29) | (2) |
| Net cash flow hedges | (33) | 330 | (10) |
| Pension and other postretirement benefits | 111 | (124) | 152 |
| Other comprehensive income | 917 | 274 | 140 |
| Comprehensive income (loss) | 7,548 | (322) | 6,763 |
| Comprehensive (income) loss attributable to noncontrolling interests | 3 | 2 | (1) |
| Comprehensive income (loss) attributable to CVS Health | 7,551 | (320) | 6,762 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CVS HEALTH CORP | |||
Ticker: CVS Fiscal Year: 2019 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2019 10-K (Filed: Feb 18, 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 | |
| Cash flows from operating activities: | |||
| Cash receipts from customers | $ 248,393 | 186,519 | 176,594 |
| Cash paid for inventory and prescriptions dispensed by retail network pharmacies | (149,655) | (148,981) | (146,469) |
| Insurance benefits paid | (52,242) | (6,897) | (2,810) |
| Cash paid to other suppliers and employees | (28,932) | (17,234) | (15,348) |
| Interest and investment income received | 955 | 644 | 21 |
| Interest paid | (2,954) | (2,803) | (1,072) |
| Income taxes paid | (2,717) | (2,383) | (2,909) |
| Net cash provided by operating activities | 12,848 | 8,865 | 8,007 |
| Cash flows from investing activities: | |||
| Proceeds from sales and maturities of investments | 7,049 | 817 | 61 |
| Purchases of investments | (7,534) | (692) | (137) |
| Purchases of property and equipment | (2,457) | (2,037) | (1,918) |
| Proceeds from sale-leaseback transactions | 5 | ||
| Proceeds from sale-leaseback transactions | 0 | 265 | |
| Acquisitions (net of cash acquired) | (444) | (42,226) | (1,181) |
| Proceeds from sale of subsidiary and other assets | 0 | 832 | 0 |
| Other | 42 | 21 | 33 |
| Net cash used in investing activities | (3,339) | (43,285) | (2,877) |
| Cash flows from financing activities: | |||
| Net repayments of short-term debt | (720) | (556) | (598) |
| Proceeds from issuance of long-term debt | 3,736 | 44,343 | 0 |
| Repayments of long-term debt | (8,336) | (5,522) | 0 |
| Derivative settlements | (25) | 446 | 0 |
| Repurchase of common stock | 0 | 0 | (4,361) |
| Dividends paid | (2,603) | (2,038) | (2,049) |
| Proceeds from exercise of stock options | 210 | 242 | 329 |
| Payments for taxes related to net share settlement of equity awards | (112) | (97) | (71) |
| Other | 0 | 1 | (1) |
| Net cash provided by (used in) financing activities | (7,850) | 36,819 | (6,751) |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | 0 | (4) | 1 |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 1,659 | 2,395 | (1,620) |
| Cash, cash equivalents and restricted cash at the beginning of the period | 4,295 | 1,900 | |
| Cash, cash equivalents and restricted cash at the end of the period | 5,954 | 4,295 | 1,900 |
| Reconciliation of net income (loss) to net cash provided by operating activities: | |||
| Net income (loss) | 6,631 | (596) | 6,623 |
| Adjustments required to reconcile net income (loss) to net cash provided by operating activities: | |||
| Depreciation and amortization | 4,371 | 2,718 | 2,479 |
| Goodwill impairments | 0 | 6,149 | 181 |
| Loss on settlement of defined benefit pension plans | 0 | 0 | 187 |
| Stock-based compensation | 453 | 280 | 234 |
| Loss on sale of subsidiary | 205 | 86 | 0 |
| Loss on early extinguishment of debt | 79 | 0 | 0 |
| Deferred income taxes | (654) | 87 | (1,334) |
| Other noncash items | 264 | 253 | 53 |
| Change in operating assets and liabilities, net of effects from acquisitions: | |||
| Accounts receivable, net | (2,158) | (1,139) | (941) |
| Inventories | (1,075) | (1,153) | (514) |
| Other assets | (614) | (3) | (338) |
| Accounts payable and pharmacy claims and discounts payable | 3,550 | 2,329 | 1,710 |
| Health care costs payable and other insurance liabilities | 320 | (311) | 0 |
| Other liabilities | 1,476 | 165 | (333) |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
CVS HEALTH CORP | ||
Ticker: CVS Fiscal Year: 2019 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2019 10-K (Filed: Feb 18, 2020) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2019 | Dec 31, 2018 | |
| Assets: | ||
| Cash and cash equivalents | $ 5,683 | 4,059 |
| Investments | 2,373 | 2,522 |
| Accounts receivable, net | 19,617 | 17,631 |
| Inventories | 17,516 | 16,450 |
| Other current assets | 5,113 | 4,581 |
| Total current assets | 50,302 | 45,243 |
| Long-term investments | 17,314 | 15,732 |
| Property and equipment, net | 12,044 | 11,360 |
| Property and equipment, net | 11,349 | |
| Operating lease right-of-use assets | 20,860 | 20,987 |
| Goodwill | 79,749 | 78,678 |
| Intangible assets, net | 33,121 | 36,524 |
| Separate accounts assets | 4,459 | 3,884 |
| Other assets | 4,600 | 5,046 |
| Total assets | 222,449 | 196,456 |
| Liabilities: | ||
| Accounts payable | 10,492 | 8,925 |
| Pharmacy claims and discounts payable | 13,601 | 11,365 |
| Health care costs payable | 6,879 | 6,147 |
| Policyholders funds | 2,991 | 2,939 |
| Accrued expenses | 12,133 | 10,711 |
| Other insurance liabilities | 1,830 | 1,937 |
| Current portion of operating lease liabilities | 1,596 | 1,803 |
| Short-term debt | 0 | 720 |
| Current portion of long-term debt | 3,781 | 1,265 |
| Total current liabilities | 53,303 | 44,009 |
| Long-term operating lease liabilities | 18,926 | 18,832 |
| Long-term debt | 64,699 | 71,444 |
| Deferred income taxes | 7,294 | 7,677 |
| Separate accounts liabilities | 4,459 | 3,884 |
| Other long-term insurance liabilities | 7,436 | 8,119 |
| Other long-term liabilities | 2,162 | 2,780 |
| Total liabilities | 158,279 | 137,913 |
| Commitments and contingencies (Note 16) | ||
| Shareholders equity: | ||
| Preferred stock, par value $0.01: 0.1 shares authorized; none issued or outstanding | 0 | 0 |
| Common stock, par value $0.01: 3,200 shares authorized; 1,727 shares issued and 1,302 shares outstanding at December 31, 2019 and 1,720 shares issued and 1,295 shares outstanding at December 31, 2018 and capital surplus | 45,972 | 45,440 |
| Treasury stock, at cost: 425 shares at both December 31, 2019 and 2018 | (28,235) | (28,228) |
| Retained earnings | 45,108 | 40,911 |
| Accumulated other comprehensive income | 1,019 | 102 |
| Total CVS Health shareholders equity | 63,864 | 58,225 |
| Noncontrolling interests | 306 | 318 |
| Total shareholders equity | 64,170 | 58,543 |
| Total liabilities and shareholders equity | 222,449 | 196,456 |
| External Links | |
| CVS HEALTH CORP (CVS) 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 |