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: 2014 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2014 10-K (Filed: Feb 24, 2015) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | |
| Revenues | |||
| Premiums | $ 68,389,800 | 66,119,100 | 56,496,700 |
| Administrative fees | 4,590,600 | 4,031,900 | 3,934,100 |
| Other revenue | 41,300 | 40,400 | 83,200 |
| Total operating revenue | 73,021,700 | 70,191,400 | 60,514,000 |
| Net investment income | 724,400 | 659,100 | 686,100 |
| Net realized gains on investments | 177,000 | 271,900 | 334,900 |
| Other than temporary impairment losses on investments: | |||
| Total other-than-temporary impairment losses on investments | (56,200) | (100,600) | (41,200) |
| Portion of other-than-temporary impairment losses recognized in other comprehensive income | 7,200 | 1,700 | 3,400 |
| Other-than-temporary impairment losses recognized in income | (49,000) | (98,900) | (37,800) |
| Total revenues | 73,874,100 | 71,023,500 | 61,497,200 |
| Expenses | |||
| Benefit expense | 56,854,900 | 56,237,100 | 48,213,600 |
| Selling, general and administrative expense: | |||
| Selling expense | 1,490,100 | 1,526,900 | 1,586,900 |
| General and administrative expense | 10,258,300 | 8,426,000 | 7,093,600 |
| Total selling, general and administrative expense | 11,748,400 | 9,952,900 | 8,680,500 |
| Interest expense | 600,700 | 602,700 | 511,800 |
| Amortization of other intangible assets | 220,900 | 245,300 | 233,000 |
| Loss on extinguishment of debt | 81,100 | 145,300 | 0 |
| Total expenses | 69,506,000 | 67,183,300 | 57,638,900 |
| Income from continuing operations before income tax expense | 4,368,100 | 3,840,200 | 3,858,300 |
| Income tax expense | 1,808,000 | 1,205,900 | 1,207,300 |
| Income from continuing operations | 2,560,100 | 2,634,300 | 2,651,000 |
| Income (loss) from discontinued operations, net of tax | 9,600 | (144,600) | 4,500 |
| Net income | 2,569,700 | 2,489,700 | 2,655,500 |
| Basic net income (loss) per share: | |||
| Basic - continuing operations (in dollars per share) | 9.28 | 8.83 | 8.25 |
| Basic - discontinued operations (in dollars per share) | 0.03 | (0.49) | 0.01 |
| Basic net income per share | 9.31 | 8.34 | 8.26 |
| Diluted net income (loss) per share: | |||
| Diluted - continuing operations (in dollars per share) | 8.96 | 8.67 | 8.17 |
| Diluted - discontinued operations (in dollars per share) | 0.03 | (0.47) | 0.01 |
| Diluted net income per share | 8.99 | 8.20 | 8.18 |
| Dividends per share | 1.75 | 1.50 | 1.15 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ELEVANCE HEALTH, INC. | |||
Ticker: ELV Fiscal Year: 2014 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2014 10-K (Filed: Feb 24, 2015) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | |
| Net income | $ 2,569,700 | 2,489,700 | 2,655,500 |
| Other comprehensive (loss) income, net of tax: | |||
| Change in net unrealized gains/losses on investments | 118,600 | (294,700) | 189,900 |
| Change in non-credit component of other-than-temporary impairment losses on investments | (3,900) | 1,700 | 4,500 |
| Change in net unrealized gains/losses on cash flow hedges | (3,600) | 3,000 | 100 |
| Change in net periodic pension and postretirement benefits | (118,100) | 172,700 | (10,900) |
| Foreign currency translation adjustments | (4,300) | 1,400 | 600 |
| Other comprehensive (loss) income | (11,300) | (115,900) | 184,200 |
| Total comprehensive income | 2,558,400 | 2,373,800 | 2,839,700 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ELEVANCE HEALTH, INC. | |||
Ticker: ELV Fiscal Year: 2014 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2014 10-K (Filed: Feb 24, 2015) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | |
| Operating activities | |||
| Net income | $ 2,569,700 | 2,489,700 | 2,655,500 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Net realized gains on investments | (177,000) | (271,900) | (334,900) |
| Other-than-temporary impairment losses recognized in income | 49,000 | 98,900 | 37,800 |
| Loss on extinguishment of debt | 81,100 | 145,300 | 0 |
| (Gain) loss on disposal from discontinued operations | (3,200) | 221,800 | 0 |
| (Gain) loss on disposal of assets | (1,700) | 3,900 | 4,700 |
| Deferred income taxes | 30,700 | 59,100 | 127,500 |
| Amortization, net of accretion | 744,500 | 800,900 | 633,600 |
| Depreciation expense | 106,500 | 107,900 | 107,100 |
| Impairment of property and equipment | 7,900 | 47,700 | 66,800 |
| Share-based compensation | 168,900 | 146,000 | 146,500 |
| Excess tax benefits from share-based compensation | (46,400) | (30,100) | (28,800) |
| Changes in operating assets and liabilities: | |||
| Receivables, net | (1,899,700) | (418,300) | 189,900 |
| Other invested assets | (21,700) | (15,100) | (38,900) |
| Other assets | 405,500 | (33,600) | 79,200 |
| Policy liabilities | 1,240,600 | (345,800) | (53,700) |
| Unearned income | 255,100 | (73,800) | (193,700) |
| Accounts payable and accrued expenses | (14,400) | 303,600 | (406,500) |
| Other liabilities | (7,900) | (154,600) | (132,800) |
| Income taxes | (34,000) | 9,300 | (73,900) |
| Other, net | (84,200) | (38,600) | (40,800) |
| Net cash provided by operating activities | 3,369,300 | 3,052,300 | 2,744,600 |
| Investing activities | |||
| Purchases of fixed maturity securities | (9,613,400) | (13,704,500) | (15,040,400) |
| Proceeds from fixed maturity securities: | |||
| Sales | 8,066,000 | 10,977,900 | 13,675,900 |
| Maturities, calls and redemptions | 1,318,700 | 1,836,800 | 1,781,500 |
| Purchases of equity securities | (912,000) | (820,300) | (232,800) |
| Proceeds from sales of equity securities | 746,500 | 721,000 | 422,700 |
| Purchases of other invested assets | (205,700) | (251,500) | (303,700) |
| Proceeds from sales of other invested assets | 124,700 | 127,100 | 35,500 |
| Settlement of non-hedging derivatives | (67,400) | (109,800) | (59,800) |
| Changes in securities lending collateral | (545,600) | (405,100) | 307,900 |
| Purchases of subsidiaries, net of cash acquired | 0 | 0 | (4,597,000) |
| Proceeds from sale of subsidiary, net of cash sold | 740,000 | 0 | 0 |
| Purchases of property and equipment | (714,600) | (646,500) | (544,900) |
| Proceeds from sales of property and equipment | 88,000 | 39,200 | 400 |
| Other, net | (100) | 1,300 | 3,100 |
| Net cash used in investing activities | (974,900) | (2,234,400) | (4,551,600) |
| Financing activities | |||
| Net repayments of commercial paper borrowings | (379,200) | (191,700) | (229,000) |
| Proceeds from long-term borrowings | 2,700,000 | 1,250,000 | 6,468,900 |
| Repayments of long-term borrowings | (1,730,100) | (1,801,900) | (1,251,300) |
| Proceeds from short-term borrowings | 2,050,000 | 1,100,000 | 642,000 |
| Repayments of short-term borrowings | (2,050,000) | (950,000) | (492,000) |
| Changes in securities lending payable | 545,600 | 405,000 | (307,800) |
| Changes in bank overdrafts | 173,000 | 9,900 | (17,600) |
| Premiums paid on equity options | 0 | (25,800) | 0 |
| Repurchase and retirement of common stock | (2,998,800) | (1,620,100) | (2,496,800) |
| Cash dividends | (480,700) | (448,000) | (367,100) |
| Proceeds from issuance of common stock under employee stock plans | 301,300 | 524,700 | 110,800 |
| Excess tax benefits from share-based compensation | 46,400 | 30,100 | 28,800 |
| Net cash (used in) provided by financing activities | (1,822,500) | (1,717,800) | 2,088,900 |
| Effect of foreign exchange rates on cash and cash equivalents | (7,100) | 2,200 | 1,100 |
| Change in cash and cash equivalents | 564,800 | (897,700) | 283,000 |
| Cash and cash equivalents at beginning of year | 1,586,900 | 2,484,600 | |
| Cash and cash equivalents at end of year | 2,151,700 | 1,586,900 | 2,484,600 |
| Less cash and cash equivalents of discontinued operations at end of year | 0 | (4,800) | (9,300) |
| Cash and cash equivalents of continuing operations at end of year | 2,151,700 | 1,582,100 | 2,475,300 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
ELEVANCE HEALTH, INC. | ||
Ticker: ELV Fiscal Year: 2014 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2014 10-K (Filed: Feb 24, 2015) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2014 | Dec 31, 2013 | |
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $ 2,151,700 | 1,582,100 |
| Investments available-for-sale, at fair value: | ||
| Fixed maturity securities (amortized cost of $17,120.4 and $16,826.7) | 17,467,400 | 17,038,200 |
| Equity securities (cost of $1,303.7 and $1,168.5) | 1,906,600 | 1,735,500 |
| Other invested assets, current | 20,200 | 16,300 |
| Accrued investment income | 161,400 | 168,800 |
| Premium and self-funded receivables | 4,825,500 | 3,968,700 |
| Other receivables | 2,117,000 | 1,063,300 |
| Income taxes receivable | 308,900 | 235,700 |
| Securities lending collateral | 1,515,200 | 969,800 |
| Deferred tax assets, net | 280,400 | 383,000 |
| Other current assets | 1,474,600 | 1,677,500 |
| Assets Held-for-sale, Current | 0 | 906,900 |
| Total current assets | 32,228,900 | 29,745,800 |
| Long-term investments available-for-sale, at fair value: | ||
| Fixed maturity securities (amortized cost of $500.7 and $455.9) | 504,400 | 449,900 |
| Equity securities (cost of $27.0 and $27.4) | 31,500 | 31,300 |
| Other invested assets, long-term | 1,695,900 | 1,542,600 |
| Property and equipment, net | 1,944,300 | 1,801,500 |
| Goodwill | 17,082,000 | 16,917,200 |
| Other intangible assets | 7,958,100 | 8,441,000 |
| Other noncurrent assets | 619,900 | 645,200 |
| Total assets | 62,065,000 | 59,574,500 |
| Liabilities and shareholders' equity | ||
| Medical claims payable | 6,861,200 | 6,127,200 |
| Reserves for future policy benefits | 68,100 | 63,100 |
| Other policyholder liabilities | 2,626,500 | 2,073,200 |
| Total policy liabilities | 9,555,800 | 8,263,500 |
| Unearned income | 1,078,100 | 822,700 |
| Accounts payable and accrued expenses | 3,651,800 | 3,426,300 |
| Security trades pending payable | 66,200 | 95,200 |
| Securities lending payable | 1,515,300 | 969,700 |
| Short-term borrowings | 400,000 | 400,000 |
| Current portion of long-term debt | 625,000 | 518,000 |
| Other current liabilities | 1,861,200 | 1,674,700 |
| Liabilities held for sale | 0 | 181,400 |
| Total current liabilities | 18,753,400 | 16,351,500 |
| Long-term debt, less current portion | 14,127,200 | 13,573,600 |
| Reserves for future policy benefits, noncurrent | 671,300 | 723,000 |
| Deferred tax liabilities, net | 3,226,000 | 3,325,200 |
| Other noncurrent liabilities | 1,035,800 | 836,000 |
| Total liabilities | 37,813,700 | 34,809,300 |
| Commitments and contingencies-Note 13 | ||
| 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 - 268,109,932 and 293,273,830 | 2,700 | 2,900 |
| Additional paid-in capital | 10,062,300 | 10,765,200 |
| Retained earnings | 14,014,400 | 13,813,900 |
| Accumulated other comprehensive income | 171,900 | 183,200 |
| Total shareholders' equity | 24,251,300 | 24,765,200 |
| Total liabilities and shareholders' equity | 62,065,000 | 59,574,500 |
| External Links | |
| ELEVANCE HEALTH, INC. (ELV) Fiscal Year 2014 | |
| 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 |