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: 2017 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2017 10-K (Filed: Feb 21, 2018) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
| Revenues | |||
| Premiums | $ 83,647,700 | 78,860,100 | 73,385,100 |
| Administrative fees | 5,380,400 | 5,298,800 | 4,976,600 |
| Other revenue | 33,100 | 35,100 | 43,100 |
| Total operating revenue | 89,061,200 | 84,194,000 | 78,404,800 |
| Net investment income | 866,500 | 779,500 | 677,600 |
| Net realized gains on financial instruments | 144,800 | 4,900 | 157,500 |
| Other than temporary impairment losses on investments: | |||
| Total other-than-temporary impairment losses on investments | (34,700) | (147,100) | (99,900) |
| Portion of other-than-temporary impairment losses recognized in other comprehensive income | 1,600 | 31,700 | 16,500 |
| Other-than-temporary impairment losses recognized in income | (33,100) | (115,400) | (83,400) |
| Total revenues | 90,039,400 | 84,863,000 | 79,156,500 |
| Expenses | |||
| Benefit expense | 72,236,200 | 66,834,400 | 61,116,900 |
| Selling, general and administrative expense: | |||
| Selling expense | 1,395,500 | 1,391,500 | 1,441,100 |
| General and administrative expense | 11,254,100 | 11,166,400 | 11,093,700 |
| Total selling, general and administrative expense | 12,649,600 | 12,557,900 | 12,534,800 |
| Interest expense | 739,000 | 723,000 | 653,000 |
| Amortization of other intangible assets | 168,400 | 192,300 | 230,100 |
| Loss (gain) on extinguishment of debt | 282,400 | 0 | (9,300) |
| Total expenses | 86,075,600 | 80,307,600 | 74,525,500 |
| Income before income tax expense | 3,963,800 | 4,555,400 | 4,631,000 |
| Income tax expense | 121,000 | 2,085,600 | 2,071,000 |
| Net income | 3,842,800 | 2,469,800 | 2,560,000 |
| Net income per share | |||
| Basic net income per share | 14.70 | 9.39 | 9.73 |
| Diluted net income per share: | |||
| Diluted net income per share | 14.35 | 9.21 | 9.38 |
| Dividends per share | 2.70 | 2.60 | 2.50 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ELEVANCE HEALTH, INC. | |||
Ticker: ELV Fiscal Year: 2017 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2017 10-K (Filed: Feb 21, 2018) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
| Net income | $ 3,842,800 | 2,469,800 | 2,560,000 |
| Other comprehensive income (loss), net of tax: | |||
| Change in net unrealized gains/losses on investments | 172,500 | 117,900 | (384,300) |
| Change in non-credit component of other-than-ternporary impairment losses on investments | 4,400 | 5,400 | (5,600) |
| Change in net unrealized gains/losses on cash flow hedges | (64,600) | (87,300) | (45,200) |
| Change in net periodic pension and postretirement costs | 51,300 | (13,400) | (26,000) |
| Foreign currency translation adjustments | 2,800 | 2,100 | (3,400) |
| Other comprehensive income (loss) | 166,400 | 24,700 | (464,500) |
| Total comprehensive income | 4,009,200 | 2,494,500 | 2,095,500 |
| Consolidated Entities | |||
| Parent Company | |||
| Net income | 3,842,800 | 2,469,800 | 2,560,000 |
| Change in net unrealized gains/losses on investments | 172,500 | 117,900 | (384,300) |
| Change in non-credit component of other-than-ternporary impairment losses on investments | 4,400 | 5,400 | (5,600) |
| Change in net unrealized gains/losses on cash flow hedges | (64,600) | (87,300) | (45,200) |
| Change in net periodic pension and postretirement costs | 51,300 | (13,400) | (26,000) |
| Foreign currency translation adjustments | 2,800 | 2,100 | (3,400) |
| Other comprehensive income (loss) | 166,400 | 24,700 | (464,500) |
| Total comprehensive income | 4,009,200 | 2,494,500 | 2,095,500 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ELEVANCE HEALTH, INC. | |||
Ticker: ELV Fiscal Year: 2017 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2017 10-K (Filed: Feb 21, 2018) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
| Operating activities | |||
| Net income | $ 3,842,800 | 2,469,800 | 2,560,000 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Net realized gains on financial instruments | (144,800) | (4,900) | (157,500) |
| Other-than-temporary impairment losses recognized in income | 33,100 | 115,400 | 83,400 |
| Loss (gain) on extinguishment of debt | 282,400 | 0 | (9,300) |
| Loss on disposal of assets | 13,000 | 4,500 | 16,000 |
| Deferred income taxes | (1,272,100) | 126,900 | (65,900) |
| Amortization, net of accretion | 779,700 | 807,800 | 802,100 |
| Depreciation expense | 110,700 | 104,000 | 105,800 |
| Impairment of property and equipment | 2,500 | 44,800 | 1,800 |
| Share-based compensation | 169,600 | 164,600 | 148,200 |
| Excess tax benefits from share-based compensation | 0 | (53,500) | (95,800) |
| Changes in operating assets and liabilities: | |||
| Receivables, net | (22,200) | (1,380,500) | (42,900) |
| Other invested assets | (35,500) | (19,400) | 5,900 |
| Other assets | (629,000) | (127,700) | 33,800 |
| Policy liabilities | 731,600 | 321,700 | 193,000 |
| Unearned income | (120,100) | (173,600) | 33,900 |
| Accounts payable and accrued expenses | 921,800 | 182,300 | (123,400) |
| Other liabilities | (120,200) | 605,700 | 686,400 |
| Income taxes | (193,900) | 178,800 | 41,500 |
| Other, net | (164,600) | (96,500) | (5,100) |
| Net cash provided by operating activities | 4,184,800 | 3,270,200 | 4,211,900 |
| Investing activities | |||
| Purchases of fixed maturity securities | (9,794,600) | (10,157,700) | (9,792,000) |
| Proceeds from fixed maturity securities: | |||
| Sales | 7,931,700 | 8,636,000 | 8,909,200 |
| Maturities, calls and redemptions | 1,847,600 | 1,418,600 | 1,313,600 |
| Purchases of equity securities | (5,416,300) | (1,476,300) | (1,561,400) |
| Proceeds from sales of equity securities | 3,462,500 | 1,592,800 | 1,471,100 |
| Purchases of other invested assets | (1,163,800) | (433,100) | (505,800) |
| Proceeds from sales of other invested assets | 219,000 | 304,900 | 85,900 |
| Changes in collateral and settlement of non-hedging derivatives | 64,900 | (34,500) | (36,500) |
| Changes in securities lending collateral | 624,500 | 222,000 | 214,400 |
| Purchases of subsidiaries, net of cash acquired | (2,079,600) | 0 | (638,900) |
| Purchases of property and equipment | (799,500) | (583,600) | (638,200) |
| Proceeds from sales of property and equipment | 9,300 | 0 | 35,300 |
| Other, net | 11,900 | (3,000) | (8,200) |
| Net cash (used in) provided by investing activities | (5,082,400) | (513,900) | (1,151,500) |
| Financing activities | |||
| Net proceeds from (repayments of) commercial paper borrowings | 174,600 | (53,200) | 682,200 |
| Proceeds from long-term borrowings | 5,457,800 | 0 | 1,226,500 |
| Repayments of long-term borrowings | (2,815,100) | 0 | (2,697,200) |
| Proceeds from short-term borrowings | 5,835,000 | 2,400,000 | 2,760,000 |
| Repayments of short-term borrowings | (5,000,000) | (2,500,000) | (2,620,000) |
| Changes in securities lending payable | (624,500) | (222,000) | (214,400) |
| Changes in bank overdrafts | 71,000 | 513,800 | (243,800) |
| Premiums paid on equity call options | 0 | 0 | (16,700) |
| Proceeds from sale of put options | 900 | 0 | 16,600 |
| Repurchase and retirement of common stock | (1,997,700) | 0 | (1,515,800) |
| Change in collateral and settlements of debt-related derivatives | (149,000) | (360,400) | 0 |
| Cash dividends | (704,900) | (684,000) | (656,600) |
| Proceeds from issuance of common stock under employee stock plans | 225,300 | 119,400 | 186,000 |
| Taxes paid through withholding of common stock under employee stock plans | (46,500) | (65,700) | (95,900) |
| Excess tax benefits from share-based compensation | 0 | 53,500 | 95,800 |
| Net cash provided by (used in) financing activities | 426,900 | (798,600) | (3,093,300) |
| Effect of foreign exchange rates on cash and cash equivalents | 4,300 | 4,100 | (5,300) |
| Change in cash and cash equivalents | (466,400) | 1,961,800 | (38,200) |
| Cash and cash equivalents at beginning of year | 4,075,300 | 2,113,500 | |
| Cash and cash equivalents at end of year | 3,608,900 | 4,075,300 | 2,113,500 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
ELEVANCE HEALTH, INC. | ||
Ticker: ELV Fiscal Year: 2017 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2017 10-K (Filed: Feb 21, 2018) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2017 | Dec 31, 2016 | |
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $ 3,608,900 | 4,075,300 |
| Investments available-for-sale, at fair value: | ||
| Fixed maturity securities (amortized cost of $17,054.5 and $16,991.8) | 17,377,300 | 17,163,100 |
| Equity securities (cost of $3,098.1 and $1,076.1) | 3,599,200 | 1,468,500 |
| Other invested assets, current | 17,200 | 15,800 |
| Accrued investment income | 162,500 | 164,500 |
| Premium and self-funded receivables | 6,184,900 | 5,860,800 |
| Other receivables | 2,266,500 | 2,536,600 |
| Income taxes receivable | 341,900 | 168,700 |
| Securities lending collateral | 455,100 | 1,079,800 |
| Other current assets | 2,249,300 | 1,781,800 |
| Total current assets | 36,262,800 | 34,314,900 |
| Long-term investments available-for-sale, at fair value: | ||
| Fixed maturity securities (amortized cost of $556.0 and $524.6) | 560,800 | 524,400 |
| Equity securities (cost of $26.7 and $27.2) | 32,800 | 31,400 |
| Other invested assets, long-term | 3,343,800 | 2,240,500 |
| Property and equipment, net | 2,174,900 | 1,977,900 |
| Goodwill | 19,231,200 | 17,561,200 |
| Other intangible assets | 8,368,400 | 7,964,900 |
| Other noncurrent assets | 565,300 | 467,900 |
| Total assets | 70,540,000 | 65,083,100 |
| Liabilities and shareholders' equity | ||
| Medical claims payable | 7,991,500 | 7,892,600 |
| Reserves for future policy benefits | 69,900 | 71,800 |
| Other policyholder liabilities | 2,950,300 | 2,221,100 |
| Total policy liabilities | 11,011,700 | 10,185,500 |
| Unearned income | 860,300 | 971,900 |
| Accounts payable and accrued expenses | 5,024,400 | 4,014,900 |
| Security trades pending payable | 112,600 | 93,500 |
| Securities lending payable | 454,400 | 1,078,900 |
| Short-term borrowings | 1,275,000 | 440,000 |
| Current portion of long-term debt | 1,274,600 | 928,400 |
| Other current liabilities | 3,343,000 | 3,581,300 |
| Total current liabilities | 23,356,000 | 21,294,400 |
| Long-term debt, less current portion | 17,382,200 | 14,358,500 |
| Reserves for future policy benefits, noncurrent | 647,300 | 666,100 |
| Deferred tax liabilities, net | 1,726,500 | 2,779,900 |
| Other noncurrent liabilities | 925,100 | 883,800 |
| Total liabilities | 44,037,100 | 39,982,700 |
| 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 - 256,084,913 and 263,747,395 | 2,600 | 2,600 |
| Additional paid-in capital | 8,547,400 | 8,805,100 |
| Retained earnings | 18,054,400 | 16,560,600 |
| Accumulated other comprehensive loss | (101,500) | (267,900) |
| Total shareholders' equity | 26,502,900 | 25,100,400 |
| Total liabilities and shareholders' equity | 70,540,000 | 65,083,100 |
| External Links | |
| ELEVANCE HEALTH, INC. (ELV) Fiscal Year 2017 | |
| 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 |