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: 2015 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2015 10-K (Filed: Feb 19, 2016) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | |
| Revenues | |||
| Premiums | $ 73,385,100 | 68,389,800 | 66,119,100 |
| Administrative fees | 4,976,600 | 4,590,600 | 4,031,900 |
| Other revenue | 43,100 | 41,300 | 40,400 |
| Total operating revenue | 78,404,800 | 73,021,700 | 70,191,400 |
| Net investment income | 677,600 | 724,400 | 659,100 |
| Net realized gains on investments | 157,500 | 177,000 | 271,900 |
| Other than temporary impairment losses on investments: | |||
| Total other-than-temporary impairment losses on investments | (99,900) | (56,200) | (100,600) |
| Portion of other-than-temporary impairment losses recognized in other comprehensive income | 16,500 | 7,200 | 1,700 |
| Other-than-temporary impairment losses recognized in income | (83,400) | (49,000) | (98,900) |
| Total revenues | 79,156,500 | 73,874,100 | 71,023,500 |
| Expenses | |||
| Benefit expense | 61,116,900 | 56,854,900 | 56,237,100 |
| Selling, general and administrative expense: | |||
| Selling expense | 1,441,100 | 1,490,100 | 1,526,900 |
| General and administrative expense | 11,093,700 | 10,258,300 | 8,426,000 |
| Total selling, general and administrative expense | 12,534,800 | 11,748,400 | 9,952,900 |
| Interest expense | 653,000 | 600,700 | 602,700 |
| Amortization of other intangible assets | 230,100 | 220,900 | 245,300 |
| (Gain) loss on extinguishment of debt | (9,300) | 81,100 | 145,300 |
| Total expenses | 74,525,500 | 69,506,000 | 67,183,300 |
| Income from continuing operations before income tax expense | 4,631,000 | 4,368,100 | 3,840,200 |
| Income tax expense | 2,071,000 | 1,808,000 | 1,205,900 |
| Income from continuing operations | 2,560,000 | 2,560,100 | 2,634,300 |
| Income (loss) from discontinued operations, net of tax | 0 | 9,600 | (144,600) |
| Net income | 2,560,000 | 2,569,700 | 2,489,700 |
| Basic net income (loss) per share: | |||
| Basic - continuing operations (in dollars per share) | 9.73 | 9.28 | 8.83 |
| Basic - discontinued operations (in dollars per share) | 0.00 | 0.03 | (0.49) |
| Basic net income per share | 9.73 | 9.31 | 8.34 |
| Diluted net income (loss) per share: | |||
| Diluted - continuing operations (in dollars per share) | 9.38 | 8.96 | 8.67 |
| Diluted - discontinued operations (in dollars per share) | 0.00 | 0.03 | (0.47) |
| Diluted net income per share | 9.38 | 8.99 | 8.20 |
| Dividends per share | 2.50 | 1.75 | 1.50 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ELEVANCE HEALTH, INC. | |||
Ticker: ELV Fiscal Year: 2015 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2015 10-K (Filed: Feb 19, 2016) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | |
| Net income | $ 2,560,000 | 2,569,700 | 2,489,700 |
| Other comprehensive (loss) income, net of tax: | |||
| Change in net unrealized gains/losses on investments | (384,300) | 118,600 | (294,700) |
| Change in non-credit component of other-than-temporary impairment losses on investments | (5,600) | (3,900) | 1,700 |
| Change in net unrealized gains/losses on cash flow hedges | (45,200) | (3,600) | 3,000 |
| Change in net periodic pension and postretirement benefits | (26,000) | (118,100) | 172,700 |
| Foreign currency translation adjustments | (3,400) | (4,300) | 1,400 |
| Other comprehensive loss | (464,500) | (11,300) | (115,900) |
| Total comprehensive income | 2,095,500 | 2,558,400 | 2,373,800 |
| Legal Entity | |||
| Parent Company | |||
| Net income | 2,560,000 | 2,569,700 | 2,489,700 |
| Change in net unrealized gains/losses on investments | (384,300) | 118,600 | (294,700) |
| Change in non-credit component of other-than-temporary impairment losses on investments | (5,600) | (3,900) | 1,700 |
| Change in net unrealized gains/losses on cash flow hedges | (45,200) | (3,600) | 3,000 |
| Change in net periodic pension and postretirement benefits | (26,000) | (118,100) | 172,700 |
| Foreign currency translation adjustments | (3,400) | (4,300) | 1,400 |
| Other comprehensive loss | (464,500) | (11,300) | (115,900) |
| Total comprehensive income | 2,095,500 | 2,558,400 | 2,373,800 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ELEVANCE HEALTH, INC. | |||
Ticker: ELV Fiscal Year: 2015 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2015 10-K (Filed: Feb 19, 2016) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | |
| Operating activities | |||
| Net income | $ 2,560,000 | 2,569,700 | 2,489,700 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Net realized gains on investments | (157,500) | (177,000) | (271,900) |
| Other-than-temporary impairment losses recognized in income | 83,400 | 49,000 | 98,900 |
| (Gain) loss on extinguishment of debt | (9,300) | 81,100 | 145,300 |
| (Gain) loss on disposal from discontinued operations | 0 | (3,200) | 221,800 |
| Loss (gain) on disposal of assets | 16,000 | (1,700) | 3,900 |
| Deferred income taxes | (65,900) | 30,700 | 59,100 |
| Amortization, net of accretion | 802,100 | 744,500 | 800,900 |
| Depreciation expense | 105,800 | 106,500 | 107,900 |
| Impairment of property and equipment | 1,800 | 7,900 | 47,700 |
| Share-based compensation | 148,200 | 168,900 | 146,000 |
| Excess tax benefits from share-based compensation | (95,800) | (46,400) | (30,100) |
| Changes in operating assets and liabilities: | |||
| Receivables, net | (42,900) | (1,899,700) | (418,300) |
| Other invested assets | 5,900 | (21,700) | (15,100) |
| Other assets | 33,800 | 405,500 | (33,600) |
| Policy liabilities | 193,000 | 1,240,600 | (345,800) |
| Unearned income | 33,900 | 255,100 | (73,800) |
| Accounts payable and accrued expenses | (219,300) | (14,400) | 303,600 |
| Other liabilities | 686,400 | (7,900) | (154,600) |
| Income taxes | 41,500 | (34,000) | 9,300 |
| Other, net | (5,100) | (84,200) | (38,600) |
| Net cash provided by operating activities | 4,116,000 | 3,369,300 | 3,052,300 |
| Investing activities | |||
| Purchases of fixed maturity securities | (9,792,000) | (9,613,400) | (13,704,500) |
| Proceeds from fixed maturity securities: | |||
| Sales | 8,909,200 | 8,066,000 | 10,977,900 |
| Maturities, calls and redemptions | 1,313,600 | 1,318,700 | 1,836,800 |
| Purchases of equity securities | (1,561,400) | (912,000) | (820,300) |
| Proceeds from sales of equity securities | 1,471,100 | 746,500 | 721,000 |
| Purchases of other invested assets | (505,800) | (205,700) | (251,500) |
| Proceeds from sales of other invested assets | 85,900 | 124,700 | 127,100 |
| Settlement of non-hedging derivatives | (36,500) | (67,400) | (109,800) |
| Changes in securities lending collateral | 214,400 | (545,600) | (405,100) |
| Purchases of subsidiaries, net of cash acquired | (638,900) | 0 | 0 |
| Proceeds from sale of subsidiary, net of cash sold | 0 | 740,000 | 0 |
| Purchases of property and equipment | (638,200) | (714,600) | (646,500) |
| Proceeds from sales of property and equipment | 35,300 | 88,000 | 39,200 |
| Other, net | (8,200) | (100) | 1,300 |
| Net cash used in investing activities | (1,151,500) | (974,900) | (2,234,400) |
| Financing activities | |||
| Net proceeds from (repayments of) commercial paper borrowings | 682,200 | (379,200) | (191,700) |
| Proceeds from long-term borrowings | 1,226,500 | 2,700,000 | 1,250,000 |
| Repayments of long-term borrowings | (2,697,200) | (1,730,100) | (1,801,900) |
| Proceeds from short-term borrowings | 2,760,000 | 2,050,000 | 1,100,000 |
| Repayments of short-term borrowings | (2,620,000) | (2,050,000) | (950,000) |
| Changes in securities lending payable | (214,400) | 545,600 | 405,000 |
| Changes in bank overdrafts | (243,800) | 173,000 | 9,900 |
| Premiums paid on equity call options | (16,700) | 0 | (25,800) |
| Proceeds from sale of put options | 16,600 | 0 | 0 |
| Repurchase and retirement of common stock | (1,515,800) | (2,998,800) | (1,620,100) |
| Cash dividends | (656,600) | (480,700) | (448,000) |
| Proceeds from issuance of common stock under employee stock plans | 186,000 | 301,300 | 524,700 |
| Excess tax benefits from share-based compensation | 95,800 | 46,400 | 30,100 |
| Net cash used in financing activities | (2,997,400) | (1,822,500) | (1,717,800) |
| Effect of foreign exchange rates on cash and cash equivalents | (5,300) | (7,100) | 2,200 |
| Change in cash and cash equivalents | (38,200) | 564,800 | (897,700) |
| Cash and cash equivalents at beginning of year | 2,151,700 | 1,586,900 | |
| Cash and cash equivalents at end of year | 2,113,500 | 2,151,700 | 1,586,900 |
| Less cash and cash equivalents of discontinued operations at year end | 0 | 0 | (4,800) |
| Cash and cash equivalents of continuing operations at end of year | 2,113,500 | 2,151,700 | 1,582,100 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
ELEVANCE HEALTH, INC. | ||
Ticker: ELV Fiscal Year: 2015 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2015 10-K (Filed: Feb 19, 2016) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2015 | Dec 31, 2014 | |
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $ 2,113,500 | 2,151,700 |
| Investments available-for-sale, at fair value: | ||
| Fixed maturity securities (amortized cost of $16,950.0 and $17,120.4) | 16,920,000 | 17,467,400 |
| Equity securities (cost of $1,055.8 and $1,303.7) | 1,441,800 | 1,906,600 |
| Other invested assets, current | 19,100 | 20,200 |
| Accrued investment income | 170,800 | 161,400 |
| Premium and self-funded receivables | 4,602,800 | 4,825,500 |
| Other receivables | 2,421,400 | 2,117,000 |
| Income taxes receivable | 316,600 | 308,900 |
| Securities lending collateral | 1,300,400 | 1,515,200 |
| Other current assets | 1,555,700 | 1,473,900 |
| Total current assets | 30,862,100 | 31,947,800 |
| Long-term investments available-for-sale, at fair value: | ||
| Fixed maturity securities (amortized cost of $550.4 and $500.7) | 558,200 | 504,400 |
| Equity securities (cost of $27.3 and $27.0) | 31,000 | 31,500 |
| Other invested assets, long-term | 2,041,100 | 1,695,900 |
| Property and equipment, net | 2,019,800 | 1,944,300 |
| Goodwill | 17,562,200 | 17,082,000 |
| Other intangible assets | 8,158,000 | 7,958,100 |
| Other noncurrent assets | 485,400 | 512,300 |
| Total assets | 61,717,800 | 61,676,300 |
| Liabilities and shareholders' equity | ||
| Medical claims payable | 7,569,800 | 6,861,200 |
| Reserves for future policy benefits | 71,900 | 68,100 |
| Other policyholder liabilities | 2,256,500 | 2,626,500 |
| Total policy liabilities | 9,898,200 | 9,555,800 |
| Unearned income | 1,145,500 | 1,078,100 |
| Accounts payable and accrued expenses | 3,318,800 | 3,651,800 |
| Security trades pending payable | 73,100 | 66,200 |
| Securities lending payable | 1,300,900 | 1,515,300 |
| Short-term borrowings | 540,000 | 400,000 |
| Current portion of long-term debt | 0 | 624,300 |
| Other current liabilities | 2,816,100 | 1,861,200 |
| Total current liabilities | 19,092,600 | 18,752,700 |
| Long-term debt, less current portion | 15,324,500 | 14,019,600 |
| Reserves for future policy benefits, noncurrent | 631,700 | 671,300 |
| Deferred tax liabilities, net | 2,630,600 | 2,945,600 |
| Other noncurrent liabilities | 994,300 | 1,035,800 |
| Total liabilities | 38,673,700 | 37,425,000 |
| 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 - 261,238,188 and 268,109,932 | 2,600 | 2,700 |
| Additional paid-in capital | 8,555,600 | 10,062,300 |
| Retained earnings | 14,778,500 | 14,014,400 |
| Accumulated other comprehensive (loss) income | (292,600) | 171,900 |
| Total shareholders' equity | 23,044,100 | 24,251,300 |
| Total liabilities and shareholders' equity | 61,717,800 | 61,676,300 |
| External Links | |
| ELEVANCE HEALTH, INC. (ELV) Fiscal Year 2015 | |
| 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 |