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: 2022 | |||
Consolidated Statements of Operations | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 8, 2023) | |||
| (In Millions) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Revenues: | |||
| Premiums | $ 85,330 | 76,132 | 69,364 |
| Net investment income | 838 | 1,199 | 798 |
| Total revenues | 322,467 | 292,111 | 268,706 |
| Operating costs: | |||
| Cost of products sold | 196,892 | 175,803 | 163,981 |
| Benefit costs | 71,281 | 64,260 | 55,679 |
| Opioid litigation charges | 5,803 | 0 | 0 |
| Loss on assets held for sale | 2,533 | 0 | 0 |
| Store impairments | 0 | 1,358 | 0 |
| Goodwill impairment | 0 | 431 | 0 |
| Operating expenses | 38,212 | 37,066 | 35,135 |
| Total operating costs | 314,721 | 278,918 | 254,795 |
| Operating income | 7,746 | 13,193 | 13,911 |
| Interest expense | 2,287 | 2,503 | 2,907 |
| Loss on early extinguishment of debt | 0 | 452 | 1,440 |
| Other income | (169) | (182) | (206) |
| Income before income tax provision | 5,628 | 10,420 | 9,770 |
| Income tax provision | 1,463 | 2,522 | 2,569 |
| Income from continuing operations | 4,165 | 7,898 | 7,201 |
| Loss from discontinued operations, net of tax | 0 | 0 | (9) |
| Net income | 4,165 | 7,898 | 7,192 |
| Net (income) loss attributable to noncontrolling interests | (16) | 12 | (13) |
| Net income attributable to CVS Health | 4,149 | 7,910 | 7,179 |
| Basic earnings per share: | |||
| Income from continuing operations attributable to CVS Health (in dollars per share) | 3.16 | 6.00 | 5.49 |
| Loss from discontinued operations attributable to CVS Health (in dollars per share) | 0.00 | 0.00 | (0.01) |
| Net income attributable to CVS Health (in dollars per share) | 3.16 | 6.00 | 5.48 |
| Weighted average basic shares outstanding (in shares) | 1,312 | 1,319 | 1,309 |
| Diluted earnings per share: | |||
| Income from continuing operations attributable to CVS Health (in dollars per share) | 3.14 | 5.95 | 5.47 |
| Loss from discontinued operations attributable to CVS Health (in dollars per share) | 0.00 | 0.00 | (0.01) |
| Net income attributable to CVS Health (in dollars per share) | 3.14 | 5.95 | 5.46 |
| Weighted average diluted shares outstanding (in shares) | 1,323 | 1,329 | 1,314 |
| Dividends declared per share (in dollars per share) | 2.20 | 2.00 | 2.00 |
| Cost, Product and Service [Extensible List] | http://fasb.org/us-gaap/2022#ProductMember | http://fasb.org/us-gaap/2022#ProductMember | http://fasb.org/us-gaap/2022#ProductMember |
| Product and Service | |||
| Products | |||
| Revenues | 226,616 | 203,738 | 190,688 |
| Services | |||
| Revenues | 9,683 | 11,042 | 7,856 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CVS HEALTH CORP | |||
Ticker: CVS Fiscal Year: 2022 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 8, 2023) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Net income | $ 4,165 | 7,898 | 7,192 |
| Other comprehensive income (loss), net of tax: | |||
| Net unrealized investment gains (losses) | (2,279) | (436) | 440 |
| Foreign currency translation adjustments | 0 | (7) | 3 |
| Net cash flow hedges | 17 | (26) | (31) |
| Pension and other postretirement benefits | (168) | 20 | (17) |
| Other comprehensive income (loss) | (2,430) | (449) | 395 |
| Comprehensive income | 1,735 | 7,449 | 7,587 |
| Comprehensive (income) loss attributable to noncontrolling interests | (16) | 12 | (13) |
| Comprehensive income attributable to CVS Health | 1,719 | 7,461 | 7,574 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CVS HEALTH CORP | |||
Ticker: CVS Fiscal Year: 2022 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 8, 2023) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Cash flows from operating activities: | |||
| Cash receipts from customers | $ 313,662 | 284,219 | 264,327 |
| Cash paid for inventory and prescriptions dispensed by retail network pharmacies | (189,766) | (165,783) | (158,636) |
| Insurance benefits paid | (69,728) | (63,598) | (55,124) |
| Cash paid to other suppliers and employees | (32,662) | (31,652) | (29,763) |
| Interest and investment income received | 1,026 | 743 | 894 |
| Interest paid | (2,239) | (2,469) | (2,904) |
| Income taxes paid | (4,116) | (3,195) | (2,929) |
| Net cash provided by operating activities | 16,177 | 18,265 | 15,865 |
| Cash flows from investing activities: | |||
| Proceeds from sales and maturities of investments | 6,729 | 7,246 | 6,467 |
| Purchases of investments | (7,746) | (9,963) | (9,639) |
| Purchases of property and equipment | (2,727) | (2,520) | (2,437) |
| Proceeds from sale-leaseback transactions | 0 | 0 | 101 |
| Acquisitions (net of cash acquired) | (139) | (146) | (866) |
| Proceeds from sale of subsidiaries (net of cash and restricted cash sold of $2,854, $0 and $9) | (1,249) | 0 | 840 |
| Other | 85 | 122 | 0 |
| Net cash used in investing activities | (5,047) | (5,261) | (5,534) |
| Cash flows from financing activities: | |||
| Proceeds from issuance of long-term debt | 0 | 987 | 9,958 |
| Repayments of long-term debt | (4,211) | (10,254) | (15,631) |
| Derivative settlements | 0 | 0 | (7) |
| Repurchase of common stock | (3,500) | 0 | 0 |
| Dividends paid | (2,907) | (2,625) | (2,624) |
| Proceeds from exercise of stock options | 551 | 549 | 264 |
| Payments for taxes related to net share settlement of equity awards | (370) | (168) | (88) |
| Other | (79) | 155 | 432 |
| Net cash used in financing activities | (10,516) | (11,356) | (7,696) |
| Net increase in cash, cash equivalents and restricted cash | 614 | 1,648 | 2,635 |
| Cash, cash equivalents and restricted cash at the beginning of the period | 12,691 | 11,043 | |
| Cash, cash equivalents and restricted cash at the end of the period | 13,305 | 12,691 | 11,043 |
| Reconciliation of net income to net cash provided by operating activities: | |||
| Net income | 4,165 | 7,898 | 7,192 |
| Adjustments required to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 4,247 | 4,512 | 4,441 |
| Loss on assets held for sale | 2,533 | 0 | 0 |
| Store impairments | 0 | 1,358 | 0 |
| Goodwill impairment | 0 | 431 | 0 |
| Stock-based compensation | 447 | 484 | 400 |
| Gain on sale of subsidiaries | (475) | 0 | (269) |
| Loss on early extinguishment of debt | 0 | 452 | 1,440 |
| Deferred income taxes | (2,075) | (428) | (570) |
| Other noncash items | 332 | (390) | 72 |
| Change in operating assets and liabilities, net of effects from acquisitions: | |||
| Accounts receivable, net | (2,971) | (2,703) | (1,510) |
| Inventories | (1,435) | 735 | (973) |
| Other assets | (566) | (3) | 364 |
| Accounts payable and pharmacy claims and discounts payable | 4,260 | 2,898 | 2,769 |
| Health care costs payable and other insurance liabilities | 1,247 | 169 | (231) |
| Other liabilities | 6,468 | 2,852 | 2,740 |
| Net cash provided by operating activities | 16,177 | 18,265 | 15,865 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
CVS HEALTH CORP | ||
Ticker: CVS Fiscal Year: 2022 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2022 10-K (Filed: Feb 8, 2023) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2022 | Dec 31, 2021 | |
| Assets: | ||
| Cash and cash equivalents | $ 12,945 | 9,408 |
| Investments | 2,778 | 3,117 |
| Accounts receivable, net | 27,276 | 24,431 |
| Inventories | 19,090 | 17,760 |
| Assets held for sale | 908 | 0 |
| Other current assets | 2,685 | 5,292 |
| Total current assets | 65,682 | 60,008 |
| Long-term investments | 21,096 | 23,025 |
| Property and equipment, net | 12,873 | 12,896 |
| Operating lease right-of-use assets | 17,872 | 19,122 |
| Goodwill | 78,150 | 79,121 |
| Intangible assets, net | 24,754 | 29,026 |
| Separate accounts assets | 3,228 | 5,087 |
| Other assets | 4,620 | 4,714 |
| Total assets | 228,275 | 232,999 |
| Liabilities: | ||
| Accounts payable | 14,838 | 12,544 |
| Pharmacy claims and discounts payable | 19,423 | 17,330 |
| Health care costs payable | 10,406 | 8,808 |
| Policyholders funds | 1,500 | 4,301 |
| Accrued expenses | 18,745 | 17,670 |
| Other insurance liabilities | 1,140 | 1,303 |
| Current portion of operating lease liabilities | 1,678 | 1,646 |
| Current portion of long-term debt | 1,778 | 4,205 |
| Liabilities held for sale | 228 | 0 |
| Total current liabilities | 69,736 | 67,807 |
| Long-term operating lease liabilities | 16,800 | 18,177 |
| Long-term debt (1) | 50,476 | 51,971 |
| Deferred income taxes | 3,880 | 6,270 |
| Separate accounts liabilities | 3,228 | 5,087 |
| Other long-term insurance liabilities | 6,108 | 6,402 |
| Other long-term liabilities | 6,732 | 1,904 |
| Total liabilities | 156,960 | 157,618 |
| 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; 1,758 shares issued and 1,300 shares outstanding at December 31, 2022 and 1,744 shares issued and 1,322 shares outstanding at December 31, 2021 and capital surplus | 48,193 | 47,377 |
| Treasury stock, at cost: 458 and 422 shares at December 31, 2022 and 2021 | (31,858) | (28,173) |
| Retained earnings | 56,145 | 54,906 |
| Accumulated other comprehensive income (loss) | (1,465) | 965 |
| Total CVS Health shareholders equity | 71,015 | 75,075 |
| Noncontrolling interests | 300 | 306 |
| Total shareholders equity | 71,315 | 75,381 |
| Total liabilities and shareholders equity | 228,275 | 232,999 |
| External Links | |
| CVS HEALTH CORP (CVS) Fiscal Year 2022 | |
| 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 |