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: 2013 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2013 10-K (Filed: Feb 20, 2014) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
| Revenues | |||
| Premiums | $ 66,119,100 | 56,496,700 | 55,969,600 |
| Administrative fees | 4,031,900 | 3,934,100 | 3,854,600 |
| Other revenue | 40,400 | 83,200 | 41,000 |
| Total operating revenue | 70,191,400 | 60,514,000 | 59,865,200 |
| Net investment income | 659,100 | 686,100 | 703,700 |
| Net realized gains on investments | 271,900 | 334,900 | 235,100 |
| Other than temporary impairment losses on investments: | |||
| Total other-than-temporary impairment losses on investments | (100,600) | (41,200) | (114,700) |
| Portion of other-than-temporary impairment losses recognized in other comprehensive income | 1,700 | 3,400 | 21,400 |
| Other-than-temporary impairment losses recognized in income | (98,900) | (37,800) | (93,300) |
| Total revenues | 71,023,500 | 61,497,200 | 60,710,700 |
| Expenses | |||
| Benefit expense | 56,237,100 | 48,213,600 | 47,647,500 |
| Selling, general and administrative expense: | |||
| Selling expense | 1,526,900 | 1,586,900 | 1,616,800 |
| General and administrative expense | 8,426,000 | 7,093,600 | 6,818,800 |
| Total selling, general and administrative expense | 9,952,900 | 8,680,500 | 8,435,600 |
| Interest expense | 602,700 | 511,800 | 430,300 |
| Amortization of other intangible assets | 245,300 | 233,000 | 239,400 |
| Loss on extinguishment of debt | 145,300 | 0 | 0 |
| Total expenses | 67,183,300 | 57,638,900 | 56,752,800 |
| Income from continuing operations before income tax expense | 3,840,200 | 3,858,300 | 3,957,900 |
| Income tax expense | 1,205,900 | 1,207,300 | 1,311,200 |
| Income from continuing operations | 2,634,300 | 2,651,000 | 2,646,700 |
| (Loss) income from discontinued operations, net of tax | (144,600) | 4,500 | 0 |
| Net income | 2,489,700 | 2,655,500 | 2,646,700 |
| Basic net income (loss) per share: | |||
| Basic - continuing operations (in dollars per share) | 8.83 | 8.25 | 7.35 |
| Basic - discontinued operations (in dollars per share) | (0.49) | 0.01 | 0.00 |
| Basic net income per share | 8.34 | 8.26 | 7.35 |
| Diluted net income (loss) per share: | |||
| Diluted - continuing operations (in dollars per share) | 8.67 | 8.17 | 7.25 |
| Diluted - discontinued operations (in dollars per share) | (0.47) | 0.01 | 0.00 |
| Diluted net income per share | 8.20 | 8.18 | 7.25 |
| Dividends per share | 1.50 | 1.15 | 1.00 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ELEVANCE HEALTH, INC. | |||
Ticker: ELV Fiscal Year: 2013 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2013 10-K (Filed: Feb 20, 2014) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
| Net income | $ 2,489,700 | 2,655,500 | 2,646,700 |
| Other comprehensive (loss) income, net of tax: | |||
| Change in net unrealized gains/losses on investments | (294,700) | 189,900 | 20,600 |
| Change in non-credit component of other-than-temporary impairment losses on investments | 1,700 | 4,500 | (700) |
| Change in net unrealized gains/losses on cash flow hedges | 3,000 | 100 | (10,000) |
| Change in net periodic pension and postretirement benefits | 172,700 | (10,900) | (119,800) |
| Foreign currency translation adjustments | 1,400 | 600 | 200 |
| Other comprehensive (loss) income | (115,900) | 184,200 | (109,700) |
| Total comprehensive income | 2,373,800 | 2,839,700 | 2,537,000 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ELEVANCE HEALTH, INC. | |||
Ticker: ELV Fiscal Year: 2013 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2013 10-K (Filed: Feb 20, 2014) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
| Operating activities | |||
| Net income | $ 2,489,700 | 2,655,500 | 2,646,700 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Net realized gains on investments | (271,900) | (334,900) | (235,100) |
| Other-than-temporary impairment losses recognized in income | 98,900 | 37,800 | 93,300 |
| Loss on extinguishment of debt | 145,300 | 0 | 0 |
| Loss on disposal from discontinued operations | 221,800 | 0 | 0 |
| Loss on disposal of assets | 3,900 | 4,700 | 3,300 |
| Deferred income taxes | 59,100 | 127,500 | 74,300 |
| Amortization, net of accretion | 800,900 | 633,600 | 541,500 |
| Depreciation expense | 107,900 | 107,100 | 95,700 |
| Impairment of property and equipment | 47,700 | 66,800 | 0 |
| Share-based compensation | 146,000 | 146,500 | 134,800 |
| Excess tax benefits from share-based compensation | (30,100) | (28,800) | (42,200) |
| Changes in operating assets and liabilities, net of effect of business combinations: | |||
| Receivables, net | (418,300) | 189,900 | (401,800) |
| Other invested assets | (15,100) | (38,900) | (8,900) |
| Other assets | (33,600) | 79,200 | (259,200) |
| Policy liabilities | (345,800) | (53,700) | 978,000 |
| Unearned income | (73,800) | (193,700) | 35,100 |
| Accounts payable and accrued expenses | 303,600 | (406,500) | (208,700) |
| Other liabilities | (154,600) | (132,800) | (13,600) |
| Income taxes | 9,300 | (73,900) | (44,600) |
| Other, net | (38,600) | (40,800) | (14,200) |
| Net cash provided by operating activities | 3,052,300 | 2,744,600 | 3,374,400 |
| Investing activities | |||
| Purchases of fixed maturity securities | (13,704,500) | (15,040,400) | (11,914,800) |
| Proceeds from fixed maturity securities: | |||
| Sales | 10,977,900 | 13,675,900 | 10,446,200 |
| Maturities, calls and redemptions | 1,836,800 | 1,781,500 | 1,891,300 |
| Purchases of equity securities | (820,300) | (232,800) | (259,000) |
| Proceeds from sales of equity securities | 721,000 | 422,700 | 287,400 |
| Purchases of other invested assets | (251,500) | (303,700) | (207,900) |
| Proceeds from sales of other invested assets | 127,100 | 35,500 | 29,400 |
| Settlement of non-hedging derivatives | (109,800) | (59,800) | (96,600) |
| Changes in securities lending collateral | (405,100) | 307,900 | 28,900 |
| Purchases of subsidiaries, net of cash acquired | 0 | (4,597,000) | (600,000) |
| Purchases of property and equipment | (646,500) | (544,900) | (519,500) |
| Proceeds from sales of property and equipment | 39,200 | 400 | 3,700 |
| Other, net | 1,300 | 3,100 | (31,100) |
| Net cash used in investing activities | (2,234,400) | (4,551,600) | (942,000) |
| Financing activities | |||
| Net proceeds from (repayments of) commercial paper borrowings | (191,700) | (229,000) | 463,600 |
| Proceeds from long-term borrowings | 1,250,000 | 6,468,900 | 1,097,400 |
| Repayments of long-term borrowings | (1,801,900) | (1,251,300) | (705,100) |
| Proceeds from short-term borrowings | 1,100,000 | 642,000 | 100,000 |
| Repayments of short-term borrowings | (950,000) | (492,000) | (100,000) |
| Changes in securities lending payable | 405,000 | (307,800) | (29,000) |
| Changes in bank overdrafts | 9,900 | (17,600) | 264,300 |
| Premiums paid on equity options | (25,800) | 0 | 0 |
| Repurchase and retirement of common stock | (1,620,100) | (2,496,800) | (3,039,800) |
| Cash dividends | (448,000) | (367,100) | (357,800) |
| Proceeds from issuance of common stock under employee stock plans | 524,700 | 110,800 | 245,000 |
| Excess tax benefits from share-based compensation | 30,100 | 28,800 | 42,200 |
| Net cash (used in) provided by financing activities | (1,717,800) | 2,088,900 | (2,019,200) |
| Effect of foreign exchange rates on cash and cash equivalents | 2,200 | 1,100 | (400) |
| Change in cash and cash equivalents | (897,700) | 283,000 | 412,800 |
| Cash and cash equivalents at beginning of year | 2,484,600 | 2,201,600 | |
| Cash and cash equivalents at end of year | 1,586,900 | 2,484,600 | 2,201,600 |
| Less cash and cash equivalents of discontinued operations at end of year | (4,800) | (9,300) | 0 |
| Cash and cash equivalents of continuing operations at end of year | 1,582,100 | 2,475,300 | 2,201,600 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
ELEVANCE HEALTH, INC. | ||
Ticker: ELV Fiscal Year: 2013 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2013 10-K (Filed: Feb 20, 2014) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2013 | Dec 31, 2012 | |
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $ 1,582,100 | 2,475,300 |
| Investments available-for-sale, at fair value: | ||
| Fixed maturity securities (amortized cost of $16,826.7 and $16,033.1) | 17,038,200 | 16,912,900 |
| Equity securities (cost of $1,168.5 and $869.9) | 1,735,500 | 1,212,400 |
| Other invested assets, current | 16,300 | 14,800 |
| Accrued investment income | 168,800 | 162,200 |
| Premium and self-funded receivables | 3,968,700 | 3,687,400 |
| Other receivables | 1,063,300 | 927,600 |
| Income taxes receivable | 235,700 | 228,500 |
| Securities lending collateral | 969,800 | 564,600 |
| Deferred tax assets, net | 383,000 | 236,400 |
| Other current assets | 1,677,500 | 1,827,400 |
| Assets held for sale | 906,900 | 1,098,000 |
| Total current assets | 29,745,800 | 29,347,500 |
| Long-term investments available-for-sale, at fair value: | ||
| Fixed maturity securities (amortized cost of $455.9 and $426.0) | 449,900 | 431,500 |
| Equity securities (cost of $27.4 and $27.1) | 31,300 | 30,100 |
| Other invested assets, long-term | 1,542,600 | 1,387,600 |
| Property and equipment, net | 1,801,500 | 1,717,300 |
| Goodwill | 16,917,200 | 16,889,800 |
| Other intangible assets | 8,441,000 | 8,665,500 |
| Other noncurrent assets | 645,200 | 486,100 |
| Total assets | 59,574,500 | 58,955,400 |
| Liabilities and shareholders' equity | ||
| Medical claims payable | 6,127,200 | 6,174,500 |
| Reserves for future policy benefits | 63,100 | 61,300 |
| Other policyholder liabilities | 2,073,200 | 2,345,700 |
| Total policy liabilities | 8,263,500 | 8,581,500 |
| Unearned income | 822,700 | 896,800 |
| Accounts payable and accrued expenses | 3,426,300 | 3,098,700 |
| Security trades pending payable | 95,200 | 69,300 |
| Securities lending payable | 969,700 | 564,700 |
| Short-term borrowings | 400,000 | 250,000 |
| Current portion of long-term debt | 518,000 | 557,100 |
| Other current liabilities | 1,674,700 | 1,769,800 |
| Liabilities held for sale | 181,400 | 207,100 |
| Total current liabilities | 16,351,500 | 15,995,000 |
| Long-term debt, less current portion | 13,573,600 | 14,170,800 |
| Reserves for future policy benefits, noncurrent | 723,000 | 750,800 |
| Deferred tax liabilities, net | 3,325,200 | 3,222,900 |
| Other noncurrent liabilities | 836,000 | 1,013,200 |
| Total liabilities | 34,809,300 | 35,152,700 |
| Commitments and contingencies-Note 14 | ||
| Shareholders' equity | ||
| Preferred stock, without par value, shares authorized100,000,000; shares issued and outstandingnone | 0 | 0 |
| Common stock, par value $0.01, shares authorized900,000,000; shares issued and outstanding: 293,273,830 and 304,715,144 | 2,900 | 3,000 |
| Additional paid-in capital | 10,765,200 | 10,853,500 |
| Retained earnings | 13,813,900 | 12,647,100 |
| Accumulated other comprehensive income | 183,200 | 299,100 |
| Total shareholders' equity | 24,765,200 | 23,802,700 |
| Total liabilities and shareholders' equity | 59,574,500 | 58,955,400 |
| External Links | |
| ELEVANCE HEALTH, INC. (ELV) Fiscal Year 2013 | |
| 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 |