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: 2021 | |||
Consolidated Statements of Operations | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 9, 2022) | |||
| (In Millions) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
| Revenues: | |||
| Premiums | $ 76,132 | 69,364 | 63,122 |
| Net investment income | 1,199 | 798 | 1,011 |
| Total revenues | 292,111 | 268,706 | 256,776 |
| Operating costs: | |||
| Cost of products sold | 175,803 | 163,981 | 158,719 |
| Benefit costs | 64,260 | 55,679 | 52,529 |
| Store impairments | 1,358 | 0 | 231 |
| Goodwill impairment | 431 | 0 | 0 |
| Operating expenses | 37,066 | 35,135 | 33,310 |
| Total operating costs | 278,918 | 254,795 | 244,789 |
| Operating income | 13,193 | 13,911 | 11,987 |
| Interest expense | 2,503 | 2,907 | 3,035 |
| Loss on early extinguishment of debt | 452 | 1,440 | 79 |
| Other income | (182) | (206) | (124) |
| Income before income tax provision | 10,420 | 9,770 | 8,997 |
| Income tax provision | 2,522 | 2,569 | 2,366 |
| Income from continuing operations | 7,898 | 7,201 | 6,631 |
| Loss from discontinued operations, net of tax | 0 | (9) | 0 |
| Net income | 7,898 | 7,192 | 6,631 |
| Net (income) loss attributable to noncontrolling interests | 12 | (13) | 3 |
| Net income attributable to CVS Health | 7,910 | 7,179 | 6,634 |
| Basic earnings per share: | |||
| Income from continuing operations attributable to CVS Health (in dollars per share) | 6.00 | 5.49 | 5.10 |
| Loss from discontinued operations attributable to CVS Health (in dollars per share) | 0.00 | (0.01) | 0.00 |
| Net income attributable to CVS Health (in dollars per share) | 6.00 | 5.48 | 5.10 |
| Weighted average basic shares outstanding (in shares) | 1,319 | 1,309 | 1,301 |
| Diluted earnings per share: | |||
| Income from continuing operations attributable to CVS Health (in dollars per share) | 5.95 | 5.47 | 5.08 |
| Loss from discontinued operations attributable to CVS Health (in dollars per share) | 0.00 | (0.01) | 0.00 |
| Net income attributable to CVS Health (in dollars per share) | 5.95 | 5.46 | 5.08 |
| Weighted average diluted shares outstanding (in shares) | 1,329 | 1,314 | 1,305 |
| Dividends declared per share (in dollars per share) | 2.00 | 2.00 | 2.00 |
| Cost, Product and Service [Extensible List] | http://fasb.org/us-gaap/2021-01-31#ProductMember | http://fasb.org/us-gaap/2021-01-31#ProductMember | http://fasb.org/us-gaap/2021-01-31#ProductMember |
| Product and Service | |||
| Products | |||
| Revenues | 203,738 | 190,688 | 185,236 |
| Services | |||
| Revenues | 11,042 | 7,856 | 7,407 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CVS HEALTH CORP | |||
Ticker: CVS Fiscal Year: 2021 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 9, 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 | $ 7,898 | 7,192 | 6,631 |
| Other comprehensive income (loss), net of tax: | |||
| Net unrealized investment gains (losses) | (436) | 440 | 677 |
| Foreign currency translation adjustments | (7) | 3 | 162 |
| Net cash flow hedges | (26) | (31) | (33) |
| Pension and other postretirement benefits | 20 | (17) | 111 |
| Other comprehensive income (loss) | (449) | 395 | 917 |
| Comprehensive income | 7,449 | 7,587 | 7,548 |
| Comprehensive (income) loss attributable to noncontrolling interests | 12 | (13) | 3 |
| Comprehensive income attributable to CVS Health | 7,461 | 7,574 | 7,551 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CVS HEALTH CORP | |||
Ticker: CVS Fiscal Year: 2021 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 9, 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 | |
| Cash flows from operating activities: | |||
| Cash receipts from customers | $ 284,219 | 264,327 | 248,393 |
| Cash paid for inventory and prescriptions dispensed by retail network pharmacies | (165,783) | (158,636) | (149,655) |
| Insurance benefits paid | (63,598) | (55,124) | (52,242) |
| Cash paid to other suppliers and employees | (31,652) | (29,763) | (28,932) |
| Interest and investment income received | 743 | 894 | 955 |
| Interest paid | (2,469) | (2,904) | (2,954) |
| Income taxes paid | (3,195) | (2,929) | (2,717) |
| Net cash provided by operating activities | 18,265 | 15,865 | 12,848 |
| Cash flows from investing activities: | |||
| Proceeds from sales and maturities of investments | 7,246 | 6,467 | 7,049 |
| Purchases of investments | (9,963) | (9,639) | (7,534) |
| Purchases of property and equipment | (2,520) | (2,437) | (2,457) |
| Proceeds from sale-leaseback transactions | 0 | 101 | 5 |
| Acquisitions (net of cash acquired) | (146) | (866) | (444) |
| Proceeds from sale of subsidiary | 0 | 840 | 0 |
| Other | 122 | 0 | 42 |
| Net cash used in investing activities | (5,261) | (5,534) | (3,339) |
| Cash flows from financing activities: | |||
| Net repayments of short-term debt | 0 | 0 | (720) |
| Proceeds from issuance of long-term debt | 987 | 9,958 | 3,736 |
| Repayments of long-term debt | (10,254) | (15,631) | (8,336) |
| Derivative settlements | 0 | (7) | (25) |
| Dividends paid | (2,625) | (2,624) | (2,603) |
| Proceeds from exercise of stock options | 549 | 264 | 210 |
| Payments for taxes related to net share settlement of equity awards | (168) | (88) | (112) |
| Other | 155 | 432 | 196 |
| Net cash used in financing activities | (11,356) | (7,696) | (7,654) |
| Net increase in cash, cash equivalents and restricted cash | 1,648 | 2,635 | 1,855 |
| Cash, cash equivalents and restricted cash at the beginning of the period | 11,043 | 8,408 | |
| Cash, cash equivalents and restricted cash at the end of the period | 12,691 | 11,043 | 8,408 |
| Reconciliation of net income to net cash provided by operating activities: | |||
| Net income | 7,898 | 7,192 | 6,631 |
| Adjustments required to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 4,512 | 4,441 | 4,371 |
| Store impairments | 1,358 | 0 | 231 |
| Goodwill impairment | 431 | 0 | 0 |
| Stock-based compensation | 484 | 400 | 453 |
| (Gain) loss on sale of subsidiaries | 0 | (269) | 205 |
| Loss on early extinguishment of debt | 452 | 1,440 | 79 |
| Deferred income taxes | (428) | (570) | (654) |
| Other noncash items | (390) | 72 | 33 |
| Change in operating assets and liabilities, net of effects from acquisitions: | |||
| Accounts receivable, net | (2,703) | (1,510) | (2,158) |
| Inventories | 735 | (973) | (1,075) |
| Other assets | (3) | 364 | (614) |
| Accounts payable and pharmacy claims and discounts payable | 2,898 | 2,769 | 3,550 |
| Health care costs payable and other insurance liabilities | 169 | (231) | 320 |
| Other liabilities | 2,852 | 2,740 | 1,476 |
| Net cash provided by operating activities | 18,265 | 15,865 | 12,848 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
CVS HEALTH CORP | ||
Ticker: CVS Fiscal Year: 2021 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2021 10-K (Filed: Feb 9, 2022) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2021 | Dec 31, 2020 | |
| Assets: | ||
| Cash and cash equivalents | $ 9,408 | 7,854 |
| Investments | 3,117 | 3,000 |
| Accounts receivable, net | 24,431 | 21,742 |
| Inventories | 17,760 | 18,496 |
| Other current assets | 5,292 | 5,277 |
| Total current assets | 60,008 | 56,369 |
| Long-term investments | 23,025 | 20,812 |
| Property and equipment, net | 12,896 | 12,606 |
| Operating lease right-of-use assets | 19,122 | 20,729 |
| Goodwill | 79,121 | 79,552 |
| Intangible assets, net | 29,026 | 31,142 |
| Separate accounts assets | 5,087 | 4,881 |
| Other assets | 4,714 | 4,624 |
| Total assets | 232,999 | 230,715 |
| Liabilities: | ||
| Accounts payable | 12,544 | 11,138 |
| Pharmacy claims and discounts payable | 17,330 | 15,795 |
| Health care costs payable | 8,808 | 7,936 |
| Policyholders funds | 4,301 | 4,270 |
| Accrued expenses | 17,670 | 14,243 |
| Other insurance liabilities | 1,303 | 1,557 |
| Current portion of operating lease liabilities | 1,646 | 1,638 |
| Current portion of long-term debt | 4,205 | 5,440 |
| Total current liabilities | 67,807 | 62,017 |
| Long-term operating lease liabilities | 18,177 | 18,757 |
| Long-term debt | 51,971 | 59,207 |
| Deferred income taxes | 6,270 | 6,794 |
| Separate accounts liabilities | 5,087 | 4,881 |
| Other long-term insurance liabilities | 6,402 | 7,007 |
| Other long-term liabilities | 1,904 | 2,351 |
| Total liabilities | 157,618 | 161,014 |
| 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; 1,744 shares issued and 1,322 shares outstanding at December 31, 2021 and 1,733 shares issued and 1,310 shares outstanding at December 31, 2020 and capital surplus | 47,377 | 46,513 |
| Treasury stock, at cost: 422 and 423 shares at December 31, 2021 and 2020 | (28,173) | (28,178) |
| Retained earnings | 54,906 | 49,640 |
| Accumulated other comprehensive income | 965 | 1,414 |
| Total CVS Health shareholders equity | 75,075 | 69,389 |
| Noncontrolling interests | 306 | 312 |
| Total shareholders equity | 75,381 | 69,701 |
| Total liabilities and shareholders equity | 232,999 | 230,715 |
| External Links | |
| CVS HEALTH CORP (CVS) 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 |