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: 2022 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 15, 2023) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Revenues | |||
| Premiums | $ 133,229 | 117,373 | 104,109 |
| Product revenue | 14,978 | 12,657 | 10,384 |
| Administrative fees and other revenue | 7,453 | 6,913 | 6,315 |
| Total operating revenue | 155,660 | 136,943 | 120,808 |
| Net investment income | 1,485 | 1,378 | 877 |
| Net (losses) gains on financial instruments | (550) | 318 | 182 |
| Total revenues | 156,595 | 138,639 | 121,867 |
| Expenses | |||
| Benefit expense | 116,487 | 102,645 | 88,045 |
| Cost of products sold | 13,035 | 10,895 | 8,953 |
| Selling, general and administrative expense | 17,686 | 15,914 | 17,450 |
| Interest expense | 851 | 798 | 784 |
| Amortization of other intangible assets | 767 | 441 | 361 |
| Loss on extinguishment of debt | 0 | 21 | 36 |
| Total expenses | 148,826 | 130,714 | 115,629 |
| Income before income tax expense | 7,769 | 7,925 | 6,238 |
| Income tax expense | 1,750 | 1,830 | 1,666 |
| Net income | 6,019 | 6,095 | 4,572 |
| Net loss attributable to noncontrolling interests | 6 | 9 | 0 |
| Shareholders net income | 6,025 | 6,104 | 4,572 |
| Shareholders net income per share | |||
| Basic net income per share | 25.10 | 25.04 | 18.23 |
| Diluted net income per share | 24.81 | 24.73 | 17.98 |
| Dividends per share | 5.12 | 4.52 | 3.80 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ELEVANCE HEALTH, INC. | |||
Ticker: ELV Fiscal Year: 2022 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 15, 2023) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Net Income | $ 6,019 | 6,095 | 4,572 |
| Other comprehensive income (loss), net of tax: | |||
| Change in net unrealized gains/losses on investments | (2,260) | (457) | 428 |
| Change in non-credit component of impairment losses on investments, net of tax | (3) | 2 | 0 |
| Change in net unrealized gains/losses on cash flow hedges | 10 | 11 | 12 |
| Change in net periodic pension and postretirement costs | (70) | 123 | (1) |
| Foreign currency translation adjustments | (13) | (9) | 7 |
| Other comprehensive (loss) income | (2,336) | (330) | 446 |
| Net loss attributable to noncontrolling interests | 6 | 9 | 0 |
| Other comprehensive loss attributable to noncontrolling interests | 11 | 2 | 0 |
| Total shareholders comprehensive income | 3,700 | 5,776 | 5,018 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ELEVANCE HEALTH, INC. | |||
Ticker: ELV Fiscal Year: 2022 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 15, 2023) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Operating activities | |||
| Net Income | $ 6,019 | 6,095 | 4,572 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Net losses (gains) on financial instruments | 550 | (318) | (182) |
| Equity in net earnings of other invested assets | (293) | (562) | (51) |
| Depreciation and amortization | 1,675 | 1,302 | 1,154 |
| Deferred income taxes | (76) | 326 | (540) |
| Impairment of property and equipment | 7 | 73 | 198 |
| Share-based compensation | 264 | 255 | 283 |
| Changes in operating assets and liabilities: | |||
| Receivables, net | (2,510) | (2,138) | (256) |
| Other invested assets | 11 | (70) | (32) |
| Other assets | 120 | 37 | (283) |
| Policy liabilities | 2,254 | 2,597 | 3,528 |
| Unearned income | (42) | (113) | 202 |
| Accounts payable and other liabilities | 824 | 719 | 1,978 |
| Income taxes | (338) | 140 | 72 |
| Other, net | (66) | 21 | 45 |
| Net cash provided by operating activities | 8,399 | 8,364 | 10,688 |
| Investing activities | |||
| Purchases of investments | (24,946) | (18,669) | (19,492) |
| Proceeds from sale of investments | 11,988 | 10,269 | 11,318 |
| Maturities, calls and redemptions from investments | 10,620 | 4,344 | 4,741 |
| Changes in securities lending collateral | (301) | (956) | (849) |
| Purchases of subsidiaries, net of cash acquired | (649) | (3,476) | (1,976) |
| Purchases of property and equipment | (1,152) | (1,087) | (1,021) |
| Other, net | (120) | (63) | (45) |
| Net cash used in investing activities | (4,560) | (9,638) | (7,324) |
| Financing activities | |||
| Net (repayments of) proceeds from commercial paper borrowings | (300) | 50 | (150) |
| Proceeds from long-term borrowings | 3,071 | 3,462 | 2,484 |
| Repayments of long-term borrowings | (1,899) | (1,068) | (1,932) |
| Proceeds from short-term borrowings | 1,365 | 1,325 | 970 |
| Repayments of short-term borrowings | (1,375) | (1,050) | (1,670) |
| Changes in securities lending payable | 302 | 956 | 849 |
| Changes in bank overdrafts | 933 | (376) | 486 |
| Repurchase and retirement of common stock | (2,316) | (1,900) | (2,700) |
| Cash dividends | (1,229) | (1,104) | (954) |
| Proceeds from issuance of common stock under employee stock plans | 182 | 203 | 176 |
| Taxes paid through withholding of common stock under employee stock plans | (93) | (102) | (128) |
| Other, net | 41 | 27 | 2 |
| Net cash (used in) provided by financing activities | (1,318) | 423 | (2,567) |
| Effect of foreign exchange rates on cash and cash equivalents | (14) | (10) | 7 |
| Change in cash and cash equivalents | 2,507 | (861) | 804 |
| Cash and cash equivalents at beginning of year | 4,880 | 5,741 | |
| Cash and cash equivalents at end of year | 7,387 | 4,880 | 5,741 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
ELEVANCE HEALTH, INC. | ||
Ticker: ELV Fiscal Year: 2022 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2022 10-K (Filed: Feb 15, 2023) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2022 | Dec 31, 2021 | |
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $ 7,387 | 4,880 |
| Fixed maturities, current | 25,952 | 26,267 |
| Equity securities | 953 | 1,881 |
| Premium receivables | 7,083 | 5,681 |
| Self-funded receivables | 4,663 | 4,010 |
| Other receivables | 4,298 | 3,749 |
| Other current assets | 5,281 | 4,654 |
| Total current assets | 55,617 | 51,122 |
| Fixed maturity securities, long-term | 752 | 632 |
| Other invested assets, long-term | 5,685 | 5,225 |
| Property and equipment, net | 4,316 | 3,919 |
| Goodwill | 24,383 | 24,228 |
| Total intangible assets | 10,315 | 10,615 |
| Other noncurrent assets | 1,704 | 1,719 |
| Total assets | 102,772 | 97,460 |
| Liabilities and Equity | ||
| Medical claims payable | 15,596 | 13,518 |
| Other policyholder liabilities | 5,933 | 5,521 |
| Unearned income | 1,112 | 1,153 |
| Accounts payable and accrued expenses | 5,607 | 4,970 |
| Short-term borrowings | 265 | 275 |
| Current portion of long-term debt | 1,500 | 1,599 |
| Other current liabilities | 9,683 | 7,849 |
| Total current liabilities | 39,696 | 34,885 |
| Long-term debt, less current portion | 22,349 | 21,157 |
| Reserves for future policy benefits | 737 | 802 |
| Deferred tax liabilities, net | 2,034 | 2,805 |
| Other noncurrent liabilities | 1,562 | 1,683 |
| Total liabilities | 66,378 | 61,332 |
| Commitments and ContingenciesNote 14 | ||
| 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 - 237,958,067 and 241,770,746 | 2 | 2 |
| Additional paid-in capital | 9,084 | 9,148 |
| Retained earnings | 29,724 | 27,088 |
| Accumulated other comprehensive loss | (2,503) | (178) |
| Total shareholders' equity | 36,307 | 36,060 |
| Noncontrolling interests | 87 | 68 |
| Total equity | 36,394 | 36,128 |
| Total liabilities and equity | 102,772 | 97,460 |
| External Links | |
| ELEVANCE HEALTH, INC. (ELV) Fiscal Year 2022 | |
| 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 |