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: 2016 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2016 10-K (Filed: Feb 22, 2017) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | |
| Revenues | |||
| Premiums | $ 78,860,100 | 73,385,100 | 68,389,800 |
| Administrative fees | 5,298,800 | 4,976,600 | 4,590,600 |
| Other revenue | 35,100 | 43,100 | 41,300 |
| Total operating revenue | 84,194,000 | 78,404,800 | 73,021,700 |
| Net investment income | 779,500 | 677,600 | 724,400 |
| Net realized gains on financial instruments | 4,900 | 157,500 | 177,000 |
| Other than temporary impairment losses on investments: | |||
| Total other-than-temporary impairment losses on investments | (147,100) | (99,900) | (56,200) |
| Portion of other-than-temporary impairment losses recognized in other comprehensive income | 31,700 | 16,500 | 7,200 |
| Other-than-temporary impairment losses recognized in income | (115,400) | (83,400) | (49,000) |
| Total revenues | 84,863,000 | 79,156,500 | 73,874,100 |
| Expenses | |||
| Benefit expense | 66,834,400 | 61,116,900 | 56,854,900 |
| Selling, general and administrative expense: | |||
| Selling expense | 1,391,500 | 1,441,100 | 1,490,100 |
| General and administrative expense | 11,166,400 | 11,093,700 | 10,258,300 |
| Total selling, general and administrative expense | 12,557,900 | 12,534,800 | 11,748,400 |
| Interest expense | 723,000 | 653,000 | 600,700 |
| Amortization of other intangible assets | 192,300 | 230,100 | 220,900 |
| (Gain) loss on extinguishment of debt | 0 | (9,300) | 81,100 |
| Total expenses | 80,307,600 | 74,525,500 | 69,506,000 |
| Income from continuing operations before income tax expense | 4,555,400 | 4,631,000 | 4,368,100 |
| Income tax expense | 2,085,600 | 2,071,000 | 1,808,000 |
| Income from continuing operations | 2,469,800 | 2,560,000 | 2,560,100 |
| Income from discontinued operations, net of tax | 0 | 0 | 9,600 |
| Net income | 2,469,800 | 2,560,000 | 2,569,700 |
| Basic net income per share: | |||
| Basic - continuing operations (in dollars per share) | 9.39 | 9.73 | 9.28 |
| Basic - discontinued operations (in dollars per share) | 0.00 | 0.00 | 0.03 |
| Basic net income per share | 9.39 | 9.73 | 9.31 |
| Diluted net income per share: | |||
| Diluted - continuing operations (in dollars per share) | 9.21 | 9.38 | 8.96 |
| Diluted - discontinued operations (in dollars per share) | 0.00 | 0.00 | 0.03 |
| Diluted net income per share | 9.21 | 9.38 | 8.99 |
| Dividends per share | 2.60 | 2.50 | 1.75 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ELEVANCE HEALTH, INC. | |||
Ticker: ELV Fiscal Year: 2016 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2016 10-K (Filed: Feb 22, 2017) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | |
| Net income | $ 2,469,800 | 2,560,000 | 2,569,700 |
| Other comprehensive income (loss), net of tax: | |||
| Change in net unrealized gains/losses on investments | 117,900 | (384,300) | 118,600 |
| Change in non-credit component of other-than-ternporary impairment losses on investments | 5,400 | (5,600) | (3,900) |
| Change in net unrealized gains/losses on cash flow hedges | (87,300) | (45,200) | (3,600) |
| Change in net periodic pension and postretirement costs | (13,400) | (26,000) | (118,100) |
| Foreign currency translation adjustments | 2,100 | (3,400) | (4,300) |
| Other comprehensive income (loss) | 24,700 | (464,500) | (11,300) |
| Total comprehensive income | 2,494,500 | 2,095,500 | 2,558,400 |
| Legal Entity | |||
| Parent Company | |||
| Net income | 2,469,800 | 2,560,000 | 2,569,700 |
| Change in net unrealized gains/losses on investments | 117,900 | (384,300) | 118,600 |
| Change in non-credit component of other-than-ternporary impairment losses on investments | 5,400 | (5,600) | (3,900) |
| Change in net unrealized gains/losses on cash flow hedges | (87,300) | (45,200) | (3,600) |
| Change in net periodic pension and postretirement costs | (13,400) | (26,000) | (118,100) |
| Foreign currency translation adjustments | 2,100 | (3,400) | (4,300) |
| Other comprehensive income (loss) | 24,700 | (464,500) | (11,300) |
| Total comprehensive income | 2,494,500 | 2,095,500 | 2,558,400 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ELEVANCE HEALTH, INC. | |||
Ticker: ELV Fiscal Year: 2016 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2016 10-K (Filed: Feb 22, 2017) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | |
| Operating activities | |||
| Net income | $ 2,469,800 | 2,560,000 | 2,569,700 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Net realized gains on financial instruments | (4,900) | (157,500) | (177,000) |
| Other-than-temporary impairment losses recognized in income | 115,400 | 83,400 | 49,000 |
| (Gain) loss on extinguishment of debt | 0 | (9,300) | 81,100 |
| Gain on disposal from discontinued operations | 0 | 0 | (3,200) |
| Loss (gain) on disposal of assets | 4,500 | 16,000 | (1,700) |
| Deferred income taxes | 126,900 | (65,900) | 30,700 |
| Amortization, net of accretion | 807,800 | 802,100 | 744,500 |
| Depreciation expense | 104,000 | 105,800 | 106,500 |
| Impairment of property and equipment | 44,800 | 1,800 | 7,900 |
| Share-based compensation | 164,600 | 148,200 | 168,900 |
| Excess tax benefits from share-based compensation | (53,500) | (95,800) | (46,400) |
| Changes in operating assets and liabilities: | |||
| Receivables, net | (1,380,500) | (42,900) | (1,899,700) |
| Other invested assets | (19,400) | 5,900 | (21,700) |
| Other assets | (127,700) | 33,800 | 405,500 |
| Policy liabilities | 321,700 | 193,000 | 1,240,600 |
| Unearned income | (173,600) | 33,900 | 255,100 |
| Accounts payable and accrued expenses | 116,600 | (219,300) | (14,400) |
| Other liabilities | 605,700 | 686,400 | (7,900) |
| Income taxes | 178,800 | 41,500 | (34,000) |
| Other, net | (96,500) | (5,100) | (84,200) |
| Net cash provided by operating activities | 3,204,500 | 4,116,000 | 3,369,300 |
| Investing activities | |||
| Purchases of fixed maturity securities | (10,157,700) | (9,792,000) | (9,613,400) |
| Proceeds from fixed maturity securities: | |||
| Sales | 8,636,000 | 8,909,200 | 8,066,000 |
| Maturities, calls and redemptions | 1,418,600 | 1,313,600 | 1,318,700 |
| Purchases of equity securities | (1,476,300) | (1,561,400) | (912,000) |
| Proceeds from sales of equity securities | 1,592,800 | 1,471,100 | 746,500 |
| Purchases of other invested assets | (433,100) | (505,800) | (205,700) |
| Proceeds from sales of other invested assets | 304,900 | 85,900 | 124,700 |
| Changes in collateral and settlement of non-hedging derivatives | (34,500) | (36,500) | (67,400) |
| Changes in securities lending collateral | 222,000 | 214,400 | (545,600) |
| Purchases of subsidiaries, net of cash acquired | 0 | (638,900) | 0 |
| Proceeds from sale of subsidiary, net of cash sold | 0 | 0 | 740,000 |
| Purchases of property and equipment | (583,600) | (638,200) | (714,600) |
| Proceeds from sales of property and equipment | 0 | 35,300 | 88,000 |
| Other, net | (3,000) | (8,200) | (100) |
| Net cash used in investing activities | (513,900) | (1,151,500) | (974,900) |
| Financing activities | |||
| Net (repayments of) proceeds from commercial paper borrowings | (53,200) | 682,200 | (379,200) |
| Proceeds from long-term borrowings | 0 | 1,226,500 | 2,700,000 |
| Repayments of long-term borrowings | 0 | (2,697,200) | (1,730,100) |
| Proceeds from short-term borrowings | 2,400,000 | 2,760,000 | 2,050,000 |
| Repayments of short-term borrowings | (2,500,000) | (2,620,000) | (2,050,000) |
| Changes in securities lending payable | (222,000) | (214,400) | 545,600 |
| Changes in bank overdrafts | 513,800 | (243,800) | 173,000 |
| Premiums paid on equity call options | 0 | (16,700) | 0 |
| Proceeds from sale of put options | 0 | 16,600 | 0 |
| Repurchase and retirement of common stock | 0 | (1,515,800) | (2,998,800) |
| Change in collateral and settlements of debt-related derivatives | (360,400) | 0 | 0 |
| Cash dividends | (684,000) | (656,600) | (480,700) |
| Proceeds from issuance of common stock under employee stock plans | 119,400 | 186,000 | 301,300 |
| Excess tax benefits from share-based compensation | 53,500 | 95,800 | 46,400 |
| Net cash used in financing activities | (732,900) | (2,997,400) | (1,822,500) |
| Effect of foreign exchange rates on cash and cash equivalents | 4,100 | (5,300) | (7,100) |
| Change in cash and cash equivalents | 1,961,800 | (38,200) | 564,800 |
| Cash and cash equivalents at beginning of year | 2,113,500 | 2,151,700 | |
| Cash and cash equivalents at end of year | 4,075,300 | 2,113,500 | 2,151,700 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
ELEVANCE HEALTH, INC. | ||
Ticker: ELV Fiscal Year: 2016 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2016 10-K (Filed: Feb 22, 2017) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2016 | Dec 31, 2015 | |
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $ 4,075,300 | 2,113,500 |
| Investments available-for-sale, at fair value: | ||
| Fixed maturity securities (amortized cost of $16,991.8 and $16,950.0) | 17,163,100 | 16,920,000 |
| Equity securities (cost of $1,076.1 and $1,055.8) | 1,468,500 | 1,441,800 |
| Other invested assets, current | 15,800 | 19,100 |
| Accrued investment income | 164,500 | 170,800 |
| Premium and self-funded receivables | 5,860,800 | 4,602,800 |
| Other receivables | 2,536,600 | 2,421,400 |
| Income taxes receivable | 168,700 | 316,600 |
| Securities lending collateral | 1,079,800 | 1,300,400 |
| Other current assets | 1,781,800 | 1,555,700 |
| Total current assets | 34,314,900 | 30,862,100 |
| Long-term investments available-for-sale, at fair value: | ||
| Fixed maturity securities (amortized cost of $524.6 and $550.4) | 524,400 | 558,200 |
| Equity securities (cost of $27.2 and $27.3) | 31,400 | 31,000 |
| Other invested assets, long-term | 2,240,500 | 2,041,100 |
| Property and equipment, net | 1,977,900 | 2,019,800 |
| Goodwill | 17,561,200 | 17,562,200 |
| Other intangible assets | 7,964,900 | 8,158,000 |
| Other noncurrent assets | 467,900 | 485,400 |
| Total assets | 65,083,100 | 61,717,800 |
| Liabilities and shareholders' equity | ||
| Medical claims payable | 7,892,600 | 7,569,800 |
| Reserves for future policy benefits | 71,800 | 71,900 |
| Other policyholder liabilities | 2,221,100 | 2,256,500 |
| Total policy liabilities | 10,185,500 | 9,898,200 |
| Unearned income | 971,900 | 1,145,500 |
| Accounts payable and accrued expenses | 4,014,900 | 3,318,800 |
| Security trades pending payable | 93,500 | 73,100 |
| Securities lending payable | 1,078,900 | 1,300,900 |
| Short-term borrowings | 440,000 | 540,000 |
| Current portion of long-term debt | 928,400 | 0 |
| Other current liabilities | 3,581,300 | 2,816,100 |
| Total current liabilities | 21,294,400 | 19,092,600 |
| Long-term debt, less current portion | 14,358,500 | 15,324,500 |
| Reserves for future policy benefits, noncurrent | 666,100 | 631,700 |
| Deferred tax liabilities, net | 2,779,900 | 2,630,600 |
| Other noncurrent liabilities | 883,800 | 994,300 |
| Total liabilities | 39,982,700 | 38,673,700 |
| 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 - 263,747,395 and 261,238,188 | 2,600 | 2,600 |
| Additional paid-in capital | 8,805,100 | 8,555,600 |
| Retained earnings | 16,560,600 | 14,778,500 |
| Accumulated other comprehensive loss | (267,900) | (292,600) |
| Total shareholders' equity | 25,100,400 | 23,044,100 |
| Total liabilities and shareholders' equity | 65,083,100 | 61,717,800 |
| External Links | |
| ELEVANCE HEALTH, INC. (ELV) Fiscal Year 2016 | |
| 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 |