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As Of Filer Filing For·On·As Docs:Size 11/06/20 CVS Health Corp. 10-Q 9/30/20 77:14M |
Document/Exhibit Description Pages Size 1: 10-Q Quarterly Report HTML 1.75M 2: EX-10.1 Material Contract HTML 52K 3: EX-15.1 Letter re: Unaudited Interim Financial Info HTML 21K 4: EX-31.1 Certification -- §302 - SOA'02 HTML 25K 5: EX-31.2 Certification -- §302 - SOA'02 HTML 25K 6: EX-32.1 Certification -- §906 - SOA'02 HTML 22K 7: EX-32.2 Certification -- §906 - SOA'02 HTML 22K 14: R1 Cover Page HTML 74K 15: R2 Condensed Consolidated Statements of Operations HTML 115K (Unaudited) 16: R3 Condensed Consolidated Statements of Comprehensive HTML 57K Income (Unaudited) 17: R4 Condensed Consolidated Balance Sheets (Unaudited) HTML 138K 18: R5 Condensed Consolidated Balance Sheets (Unaudited) HTML 40K (Parenthetical) 19: R6 Condensed Consolidated Statements of Cash Flows HTML 122K (Unaudited) 20: R7 Condensed Consolidated Statements of Shareholders' HTML 136K Equity (Unaudited) 21: R8 Condensed Consolidated Statements of Shareholders' HTML 53K Equity (Parentheticals) 22: R9 Significant Accounting Policies HTML 199K 23: R10 Divestitures HTML 24K 24: R11 Investments HTML 309K 25: R12 Fair Value HTML 143K 26: R13 Health Care Costs Payable HTML 44K 27: R14 Borrowings HTML 87K 28: R15 Shareholders' Equity HTML 25K 29: R16 Other Comprehensive Income HTML 80K 30: R17 Earnings Per Share HTML 49K 31: R18 Commitments and Contingencies HTML 81K 32: R19 Segment Reporting HTML 118K 33: R20 Subsequent Event HTML 24K 34: R21 Significant Accounting Policies (Policies) HTML 82K 35: R22 Significant Accounting Policies (Tables) HTML 172K 36: R23 Investments (Tables) HTML 318K 37: R24 Fair Value (Tables) HTML 143K 38: R25 Health Care Costs Payable (Tables) HTML 43K 39: R26 Borrowings (Tables) HTML 84K 40: R27 Other Comprehensive Income (Tables) HTML 80K 41: R28 Earnings Per Share (Tables) HTML 48K 42: R29 Segment Reporting (Tables) HTML 116K 43: R30 Significant Accounting Policies - Narrative HTML 97K (Details) 44: R31 Significant Accounting Policies - Cash and Cash HTML 30K Equivalents, Restricted Cash and Cash Equivalents (Details) 45: R32 Significant Accounting Policies - Accounts HTML 32K Receivable (Details) 46: R33 Significant Accounting Policies - Disaggregation HTML 100K of Revenue (Details) 47: R34 Significant Accounting Policies - Receivables and HTML 26K Contracted Balances (Details) 48: R35 Significant Accounting Policies - Contract HTML 28K Balances (Details) 49: R36 Divestitures (Details) HTML 39K 50: R37 Investments (Details) HTML 35K 51: R38 Investments - Debt Securities (Details) HTML 71K 52: R39 Investments - Debt Securities by Maturity HTML 63K (Details) 53: R40 Investments - Unrealized Loss Position (Details) HTML 92K 54: R41 Investments - Unrealized Loss Position Maturities HTML 85K (Details) 55: R42 Investments - Mortgage Loans (Details) HTML 28K 56: R43 Investments - Mortgage Loans Credit Ratings HTML 73K Indicator (Details) 57: R44 Investments - Net Investment Income (Details) HTML 48K 58: R45 Investments - Realized Gains (Details) HTML 28K 59: R46 Fair Value - Measurement on a Recurring Basis HTML 101K (Details) 60: R47 Fair Value - Carrying Value and Fair Value HTML 50K Classified by Level (Details) 61: R48 Fair Value - Separate Accounts Fair Value HTML 55K (Details) 62: R49 Health Care Costs Payable - Components of Change HTML 62K in Health Care Costs Payable (Details) 63: R50 Health Care Costs Payable - Narrative (Details) HTML 28K 64: R51 Borrowings - Schedule of Borrowings (Details) HTML 189K 65: R52 Borrowings - Narrative (Details) HTML 107K 66: R53 Shareholders' Equity (Details) HTML 32K 67: R54 Other Comprehensive Income (Details) HTML 81K 68: R55 Earnings Per Share (Details) HTML 69K 69: R56 Commitments and Contingencies (Details) HTML 38K 70: R57 Segment Reporting - Narrative (Details) HTML 23K 71: R58 Segment Reporting - Reconciliation of Financial HTML 68K Measures of Segments to Consolidated Totals (Details) 72: R59 Segment Reporting - Reconciliation from Operating HTML 51K Income to Adjusted Operating Income (Details) 73: R60 Subsequent Event (Details) HTML 37K 75: XML IDEA XML File -- Filing Summary XML 133K 13: XML XBRL Instance -- cvs-20200930_htm XML 4.97M 74: EXCEL IDEA Workbook of Financial Reports XLSX 126K 9: EX-101.CAL XBRL Calculations -- cvs-20200930_cal XML 288K 10: EX-101.DEF XBRL Definitions -- cvs-20200930_def XML 828K 11: EX-101.LAB XBRL Labels -- cvs-20200930_lab XML 1.86M 12: EX-101.PRE XBRL Presentations -- cvs-20200930_pre XML 1.13M 8: EX-101.SCH XBRL Schema -- cvs-20200930 XSD 205K 76: JSON XBRL Instance as JSON Data -- MetaLinks 432± 624K 77: ZIP XBRL Zipped Folder -- 0000064803-20-000041-xbrl Zip 459K
cvs-20200930 |
i Delaware | i 05-0494040 | |||||||
(State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) |
i One CVS Drive, | i Woonsocket, | i Rhode Island | i 02895 | |||||||||||||||||
(Address of principal executive offices) | (Zip Code) | |||||||||||||||||||
Registrant’s telephone number, including area code: | i (401) | i 765-1500 | ||||||||||||||||||
Former
name, former address and former fiscal year, if changed since last report: | N/A |
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
i Common Stock, par value $0.01 per share | i CVS | i New York Stock Exchange |
i Large accelerated filer | ☑ | Accelerated filer | ☐ | ||||||||
Non-accelerated filer | ☐ | Smaller reporting company | i ☐ | ||||||||
Emerging growth company | i ☐ | ||||||||||
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. | ☐ |
TABLE OF CONTENTS | Page | |||||||
Part I | Financial Information | |||||||
Item 1. | ||||||||
Item 2. | ||||||||
Item 3. | ||||||||
Item 4. | ||||||||
Part II | Other Information | |||||||
Item 1. | ||||||||
Item 1A. | ||||||||
Item 2. | ||||||||
Item 3 | ||||||||
Item 4. | ||||||||
Item 5. | ||||||||
Item 6. | ||||||||
Page | |||||
Condensed Consolidated Statements of Operations (Unaudited) for the three and nine months ended September 30, 2020 and 2019 | |||||
Condensed Consolidated Statements of Comprehensive Income (Unaudited) for the three and nine months ended September 30, 2020 and 2019 | |||||
Condensed Consolidated Balance Sheets (Unaudited) as of September 30, 2020 and December 31, 2019 | |||||
Condensed Consolidated Statements of Cash Flows (Unaudited) for the nine months ended September 30, 2020 and 2019 | |||||
Condensed Consolidated Statements of Shareholders’ Equity (Unaudited) for the three months ended September 30, 2020 and 2019, the three months ended June 30, 2020 and 2019 and the three months ended March 31, 2020 and 2019 | |||||
Notes to Condensed Consolidated Financial Statements (Unaudited) | |||||
Report of Independent Registered Public Accounting Firm |
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
In millions, except per share amounts | 2020 | 2019 | 2020 | 2019 | |||||||||||||||||||
Revenues: | |||||||||||||||||||||||
Products | $ | i 47,738 | $ | i 47,149 | $ | i 141,096 | $ | i 136,023 | |||||||||||||||
Premiums | i 17,182 | i 15,539 | i 51,749 | i 47,612 | |||||||||||||||||||
Services | i 1,932 | i 1,859 | i 5,757 | i 5,447 | |||||||||||||||||||
Net investment income | i 204 | i 263 | i 550 | i 805 | |||||||||||||||||||
Total revenues | i 67,056 | i 64,810 | i 199,152 | i 189,887 | |||||||||||||||||||
Operating costs: | |||||||||||||||||||||||
Cost of products sold | i 40,940 | i 40,437 | i 121,529 | i 116,654 | |||||||||||||||||||
Benefit costs | i 14,396 | i 12,850 | i 40,534 | i 39,396 | |||||||||||||||||||
Operating expenses | i 8,471 | i 8,595 | i 25,702 | i 24,887 | |||||||||||||||||||
Total operating costs | i 63,807 | i 61,882 | i 187,765 | i 180,937 | |||||||||||||||||||
Operating income | i 3,249 | i 2,928 | i 11,387 | i 8,950 | |||||||||||||||||||
Interest expense | i 731 | i 747 | i 2,229 | i 2,301 | |||||||||||||||||||
Loss on early extinguishment of debt | i 766 | i 79 | i 766 | i 79 | |||||||||||||||||||
Other income | ( i 54) | ( i 31) | ( i 153) | ( i 93) | |||||||||||||||||||
Income before income tax provision | i 1,806 | i 2,133 | i 8,545 | i 6,663 | |||||||||||||||||||
Income tax provision | i 587 | i 604 | i 2,328 | i 1,776 | |||||||||||||||||||
Net income | i 1,219 | i 1,529 | i 6,217 | i 4,887 | |||||||||||||||||||
Net (income) loss attributable to noncontrolling interests | i 5 | i 1 | ( i 11) | i — | |||||||||||||||||||
Net income attributable to CVS Health | $ | i 1,224 | $ | i 1,530 | $ | i 6,206 | $ | i 4,887 | |||||||||||||||
Net income per share attributable to CVS Health: | |||||||||||||||||||||||
Basic | $ | i 0.93 | $ | i 1.17 | $ | i 4.74 | $ | i 3.76 | |||||||||||||||
Diluted | $ | i 0.93 | $ | i 1.17 | $ | i 4.72 | $ | i 3.75 | |||||||||||||||
Weighted average shares outstanding: | |||||||||||||||||||||||
Basic | i 1,310 | i 1,302 | i 1,308 | i 1,300 | |||||||||||||||||||
Diluted | i 1,315 | i 1,305 | i 1,314 | i 1,303 | |||||||||||||||||||
Dividends declared per share | $ | i 0.50 | $ | i 0.50 | $ | i 1.50 | $ | i 1.50 |
Three
Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
In millions | 2020 | 2019 | 2020 | 2019 | |||||||||||||||||||
Net income | $ | i 1,219 | $ | i 1,529 | $ | i 6,217 | $ | i 4,887 | |||||||||||||||
Other comprehensive income, net of tax: | |||||||||||||||||||||||
Net unrealized investment gains | i 44 | i 136 | i 257 | i 721 | |||||||||||||||||||
Foreign currency translation adjustments | i 1 | i 153 | ( i 5) | i 157 | |||||||||||||||||||
Net cash flow hedges | ( i 3) | ( i 23) | ( i 15) | ( i 30) | |||||||||||||||||||
Pension and other postretirement benefits | i — | i — | ( i 1) | i — | |||||||||||||||||||
Other comprehensive income | i 42 | i 266 | i 236 | i 848 | |||||||||||||||||||
Comprehensive income | i 1,261 | i 1,795 | i 6,453 | i 5,735 | |||||||||||||||||||
Comprehensive (income) loss attributable to noncontrolling interests | i 5 | i 1 | ( i 11) | i — | |||||||||||||||||||
Comprehensive income attributable to CVS Health | $ | i 1,266 | $ | i 1,796 | $ | i 6,442 | $ | i 5,735 |
In millions, except per share amounts | September 30, 2020 | December 31, 2019 | |||||||||
Assets: | |||||||||||
Cash and cash equivalents | $ | i 9,256 | $ | i 5,683 | |||||||
Investments | i 2,831 | i 2,373 | |||||||||
Accounts receivable, net | i 23,816 | i 19,617 | |||||||||
Inventories | i 17,478 | i 17,516 | |||||||||
Other current assets | i 5,830 | i 5,113 | |||||||||
Total current assets | i 59,211 | i 50,302 | |||||||||
Long-term investments | i 20,216 | i 17,314 | |||||||||
Property and equipment, net | i 12,349 | i 12,044 | |||||||||
Operating lease right-of-use assets | i 20,484 | i 20,860 | |||||||||
Goodwill | i 79,579 | i 79,749 | |||||||||
Intangible assets, net | i 31,697 | i 33,121 | |||||||||
Separate accounts assets | i 4,793 | i 4,459 | |||||||||
Other assets | i 4,569 | i 4,600 | |||||||||
Total assets | $ | i 232,898 | $ | i 222,449 | |||||||
Liabilities: | |||||||||||
Accounts payable | $ | i 11,677 | $ | i 10,492 | |||||||
Pharmacy claims and discounts payable | i 15,722 | i 13,601 | |||||||||
Health care costs payable | i 7,593 | i 6,879 | |||||||||
Policyholders’ funds | i 3,964 | i 2,991 | |||||||||
Accrued expenses | i 14,329 | i 12,133 | |||||||||
Other insurance liabilities | i 1,527 | i 1,830 | |||||||||
Current portion of operating lease liabilities | i 1,789 | i 1,596 | |||||||||
Current portion of long-term debt | i 5,443 | i 3,781 | |||||||||
Total current liabilities | i 62,044 | i 53,303 | |||||||||
Long-term operating lease liabilities | i 18,489 | i 18,926 | |||||||||
Long-term debt | i 61,552 | i 64,699 | |||||||||
Deferred income taxes | i 7,253 | i 7,294 | |||||||||
Separate accounts liabilities | i 4,793 | i 4,459 | |||||||||
Other long-term insurance liabilities | i 7,135 | i 7,436 | |||||||||
Other long-term liabilities | i 2,520 | i 2,162 | |||||||||
Total liabilities | i 163,786 | i 158,279 | |||||||||
Shareholders’ equity: | |||||||||||
Preferred stock, par value $ i i 0.01 / :
i i 0.1 / shares authorized; i i i i no / / / ne
issued or outstanding | i — | i — | |||||||||
Common
stock, par value $ i i 0.01 / : i i 3,200 /
shares authorized; i 1,732 shares issued and i 1,309 shares outstanding at September 30, 2020 and i 1,727
shares issued and i 1,302 shares outstanding at December 31, 2019 and capital surplus | i 46,388 | i 45,972 | |||||||||
Treasury
stock, at cost: i 423 shares at September 30, 2020 and i 425 shares at December 31, 2019 | ( i 28,164) | ( i 28,235) | |||||||||
Retained earnings | i 49,328 | i 45,108 | |||||||||
Accumulated other comprehensive income | i 1,255 | i 1,019 | |||||||||
Total CVS Health shareholders’ equity | i 68,807 | i 63,864 | |||||||||
Noncontrolling interests | i 305 | i 306 | |||||||||
Total shareholders’ equity | i 69,112 | i 64,170 | |||||||||
Total liabilities and shareholders’ equity | $ | i 232,898 | $ | i 222,449 |
Nine
Months Ended September 30, | |||||||||||
In millions | 2020 | 2019 | |||||||||
Cash flows from operating activities: | |||||||||||
Cash receipts from customers | $ | i 195,554 | $ | i 184,519 | |||||||
Cash paid for inventory and prescriptions dispensed by retail network pharmacies | ( i 116,590) | ( i 109,958) | |||||||||
Insurance benefits paid | ( i 40,221) | ( i 38,812) | |||||||||
Cash paid to other suppliers and employees | ( i 22,185) | ( i 21,411) | |||||||||
Interest and investment income received | i 622 | i 756 | |||||||||
Interest paid | ( i 2,517) | ( i 2,675) | |||||||||
Income taxes paid | ( i 2,365) | ( i 2,205) | |||||||||
Net cash provided by operating activities | i 12,298 | i 10,214 | |||||||||
Cash flows from investing activities: | |||||||||||
Proceeds from sales and maturities of investments | i 3,790 | i 5,616 | |||||||||
Purchases of investments | ( i 6,377) | ( i 6,011) | |||||||||
Purchases of property and equipment | ( i 1,724) | ( i 1,890) | |||||||||
Acquisitions (net of cash acquired) | ( i 828) | ( i 361) | |||||||||
Proceeds from sale of subsidiary | i 834 | i — | |||||||||
Other | i 5 | i 16 | |||||||||
Net cash used in investing activities | ( i 4,300) | ( i 2,630) | |||||||||
Cash flows from financing activities: | |||||||||||
Net borrowings of short-term debt | i — | i 350 | |||||||||
Proceeds from issuance of long-term debt | i 7,919 | i 3,458 | |||||||||
Repayments of long-term debt | ( i 10,493) | ( i 8,350) | |||||||||
Derivative settlements | ( i 7) | ( i 25) | |||||||||
Dividends paid | ( i 1,980) | ( i 1,952) | |||||||||
Proceeds from exercise of stock options | i 249 | i 183 | |||||||||
Payments for taxes related to net share settlement of equity awards | ( i 75) | ( i 85) | |||||||||
Other | ( i 33) | i 11 | |||||||||
Net cash used in financing activities | ( i 4,420) | ( i 6,410) | |||||||||
Net increase in cash, cash equivalents and restricted cash | i 3,578 | i 1,174 | |||||||||
Cash, cash equivalents and restricted cash at the beginning of the period | i 5,954 | i 4,295 | |||||||||
Cash, cash equivalents and restricted cash at the end of the period | $ | i 9,532 | $ | i 5,469 |
Nine Months Ended September 30, | |||||||||||
In millions | 2020 | 2019 | |||||||||
Reconciliation of net income to net cash provided by operating activities: | |||||||||||
Net income | $ | i 6,217 | $ | i 4,887 | |||||||
Adjustments required to reconcile net income to net cash provided by operating activities: | |||||||||||
Depreciation and amortization | i 3,302 | i 3,275 | |||||||||
Stock-based compensation | i 288 | i 355 | |||||||||
(Gain) loss on sale of subsidiary | ( i 271) | i 205 | |||||||||
Loss on early extinguishment of debt | i 766 | i 79 | |||||||||
Deferred income taxes and other noncash items | ( i 25) | ( i 38) | |||||||||
Change in operating assets and liabilities, net of effects from acquisitions: | |||||||||||
Accounts receivable, net | ( i 3,564) | ( i 2,312) | |||||||||
Inventories | i 45 | i 413 | |||||||||
Other assets | ( i 211) | ( i 374) | |||||||||
Accounts payable and pharmacy claims and discounts payable | i 3,495 | i 2,330 | |||||||||
Health care costs payable and other insurance liabilities | ( i 474) | i 535 | |||||||||
Other liabilities | i 2,730 | i 859 | |||||||||
Net cash provided by operating activities | $ | i 12,298 | $ | i 10,214 |
Attributable to CVS Health | ||||||||||||||||||||||||||||||||
Number of shares outstanding | Common Stock and Capital Surplus (2) | Treasury Stock (1) | Retained Earnings | Accumulated Other Comprehensive Income | Total CVS Health Shareholders’ Equity | Noncontrolling Interests | Total Shareholders’ Equity | |||||||||||||||||||||||||
Common Shares | Treasury Shares (1) | |||||||||||||||||||||||||||||||
In millions | ||||||||||||||||||||||||||||||||
Balance at December 31, 2019 | i 1,727 | ( i 425) | $ | i 45,972 | $ | ( i 28,235) | $ | i 45,108 | $ | i 1,019 | $ | i 63,864 | $ | i 306 | $ | i 64,170 | ||||||||||||||||
Adoption of new accounting standard (Note 1) | — | — | — | — | ( i 3) | — | ( i 3) | — | ( i 3) | |||||||||||||||||||||||
Net income | — | — | — | — | i 2,007 | — | i 2,007 | i 5 | i 2,012 | |||||||||||||||||||||||
Other comprehensive loss | — | — | — | — | — | ( i 332) | ( i 332) | — | ( i 332) | |||||||||||||||||||||||
Stock option activity, stock awards and other | i 2 | — | i 208 | — | — | — | i 208 | — | i 208 | |||||||||||||||||||||||
ESPP issuances, net of purchase of treasury shares | — | i 1 | — | i 53 | — | — | i 53 | — | i 53 | |||||||||||||||||||||||
Common stock dividends | — | — | — | — | ( i 657) | — | ( i 657) | — | ( i 657) | |||||||||||||||||||||||
Other increases in noncontrolling interests | — | — | — | — | — | — | — | i 23 | i 23 | |||||||||||||||||||||||
Balance at March 31, 2020 | i 1,729 | ( i 424) | i 46,180 | ( i 28,182) | i 46,455 | i 687 | i 65,140 | i 334 | i 65,474 | |||||||||||||||||||||||
Net income | — | — | — | — | i 2,975 | — | i 2,975 | i 11 | i 2,986 | |||||||||||||||||||||||
Other comprehensive income | — | — | — | — | — | i 526 | i 526 | — | i 526 | |||||||||||||||||||||||
Stock option activity, stock awards and other | i 3 | — | i 96 | — | — | — | i 96 | — | i 96 | |||||||||||||||||||||||
Purchase of treasury shares, net of ESPP issuances | — | ( i 1) | — | ( i 53) | — | — | ( i 53) | — | ( i 53) | |||||||||||||||||||||||
Common stock dividends | — | — | — | — | ( i 662) | — | ( i 662) | — | ( i 662) | |||||||||||||||||||||||
Other decreases in noncontrolling interests | — | — | — | — | — | — | — | ( i 12) | ( i 12) | |||||||||||||||||||||||
Balance at June 30, 2020 | i 1,732 | ( i 425) | $ | i 46,276 | $ | ( i 28,235) | $ | i 48,768 | $ | i 1,213 | $ | i 68,022 | $ | i 333 | $ | i 68,355 | ||||||||||||||||
Net income (loss) | — | — | — | — | i 1,224 | — | i 1,224 | ( i 5) | i 1,219 | |||||||||||||||||||||||
Other comprehensive income (Note 8) | — | — | — | — | — | i 42 | i 42 | — | i 42 | |||||||||||||||||||||||
Stock option activity, stock awards and other | — | — | i 112 | — | — | — | i 112 | — | i 112 | |||||||||||||||||||||||
ESPP issuances, net of purchase of treasury shares | — | i 2 | — | i 71 | — | — | i 71 | — | i 71 | |||||||||||||||||||||||
Common stock dividends | — | — | — | — | ( i 664) | — | ( i 664) | — | ( i 664) | |||||||||||||||||||||||
Other decreases in noncontrolling interests | — | — | — | — | — | — | — | ( i 23) | ( i 23) | |||||||||||||||||||||||
Balance at September 30, 2020 | i 1,732 | ( i 423) | $ | i 46,388 | $ | ( i 28,164) | $ | i 49,328 | $ | i 1,255 | $ | i 68,807 | $ | i 305 | $ | i 69,112 |
Attributable to CVS Health | ||||||||||||||||||||||||||||||||
Number of shares outstanding | Common Stock and Capital Surplus (2) | Treasury Stock (1) | Retained Earnings | Accumulated Other Comprehensive Income | Total CVS Health Shareholders’ Equity | Noncontrolling Interests | Total Shareholders’ Equity | |||||||||||||||||||||||||
Common Shares | Treasury Shares (1) | |||||||||||||||||||||||||||||||
In millions | ||||||||||||||||||||||||||||||||
Balance at December 31, 2018 | i 1,720 | ( i 425) | $ | i 45,440 | $ | ( i 28,228) | $ | i 40,911 | $ | i 102 | $ | i 58,225 | $ | i 318 | $ | i 58,543 | ||||||||||||||||
Adoption
of new accounting standard (3) | — | — | — | — | i 178 | — | i 178 | — | i 178 | |||||||||||||||||||||||
Net income | — | — | — | — | i 1,421 | — | i 1,421 | i 6 | i 1,427 | |||||||||||||||||||||||
Other comprehensive income | — | — | — | — | — | i 331 | i 331 | — | i 331 | |||||||||||||||||||||||
Stock option activity, stock awards and other | i 2 | — | i 175 | — | — | — | i 175 | — | i 175 | |||||||||||||||||||||||
ESPP issuances, net of purchase of treasury shares | — | i 1 | — | i 7 | — | — | i 7 | — | i 7 | |||||||||||||||||||||||
Common stock dividends | — | — | — | — | ( i 651) | — | ( i 651) | — | ( i 651) | |||||||||||||||||||||||
Other decreases in noncontrolling interests | — | — | — | — | — | — | — | ( i 4) | ( i 4) | |||||||||||||||||||||||
Balance at March 31, 2019 | i 1,722 | ( i 424) | i 45,615 | ( i 28,221) | i 41,859 | i 433 | i 59,686 | i 320 | i 60,006 | |||||||||||||||||||||||
Net income (loss) | — | — | — | — | i 1,936 | — | i 1,936 | ( i 5) | i 1,931 | |||||||||||||||||||||||
Other comprehensive income | — | — | — | — | — | i 251 | i 251 | — | i 251 | |||||||||||||||||||||||
Stock option activity, stock awards and other | i 2 | — | i 104 | — | — | — | i 104 | — | i 104 | |||||||||||||||||||||||
Purchase of treasury shares, net of ESPP issuances | — | ( i 1) | — | ( i 36) | — | — | ( i 36) | — | ( i 36) | |||||||||||||||||||||||
Common stock dividends | — | — | — | — | ( i 659) | — | ( i 659) | — | ( i 659) | |||||||||||||||||||||||
Other increases in noncontrolling interests | — | — | — | — | — | — | — | i 2 | i 2 | |||||||||||||||||||||||
Balance at June 30, 2019 | i 1,724 | ( i 425) | $ | i 45,719 | $ | ( i 28,257) | $ | i 43,136 | $ | i 684 | $ | i 61,282 | $ | i 317 | $ | i 61,599 | ||||||||||||||||
Net income (loss) | — | — | — | — | i 1,530 | — | i 1,530 | ( i 1) | i 1,529 | |||||||||||||||||||||||
Other comprehensive income (Note 8) | — | — | — | — | — | i 266 | i 266 | — | i 266 | |||||||||||||||||||||||
Stock option activity, stock awards and other | i 1 | — | i 135 | — | — | — | i 135 | — | i 135 | |||||||||||||||||||||||
ESPP issuances, net of purchase of treasury shares | — | i 1 | — | i 50 | — | — | i 50 | — | i 50 | |||||||||||||||||||||||
Common stock dividends | — | — | — | — | ( i 649) | — | ( i 649) | — | ( i 649) | |||||||||||||||||||||||
Other increases in noncontrolling interests | — | — | — | — | — | — | — | i 3 | i 3 | |||||||||||||||||||||||
Balance at September 30, 2019 | i 1,725 | ( i 424) | $ | i 45,854 | $ | ( i 28,207) | $ | i 44,017 | $ | i 950 | $ | i 62,614 | $ | i 319 | $ | i 62,933 |
In millions | September 30, 2020 | December 31, 2019 | |||||||||
Cash and cash equivalents | $ | i 9,256 | $ | i 5,683 | |||||||
Restricted cash (included in other assets) | i 276 | i 271 | |||||||||
Total cash, cash equivalents and restricted cash in the statements of cash flows | $ | i 9,532 | $ | i 5,954 |
In millions | September
30, 2020 | December 31, 2019 | |||||||||
Trade receivables | $ | i 7,265 | $ | i 6,717 | |||||||
Vendor and manufacturer receivables | i 10,528 | i 7,856 | |||||||||
Premium receivables | i 2,852 | i 2,663 | |||||||||
Other receivables | i 3,171 | i 2,381 | |||||||||
Total accounts receivable, net | $ | i 23,816 | $ | i 19,617 |
In millions | Pharmacy Services | Retail/ LTC | Health Care Benefits | Corporate/ Other | Intersegment Eliminations | Consolidated Totals | |||||||||||||||||||||||||||||
Three Months Ended September 30, 2020 | |||||||||||||||||||||||||||||||||||
Major goods/services lines: | |||||||||||||||||||||||||||||||||||
Pharmacy | $ | i 35,505 | $ | i 17,608 | $ | i — | $ | i — | $ | ( i 10,051) | $ | i 43,062 | |||||||||||||||||||||||
Front Store | i — | i 4,740 | i — | i — | i — | i 4,740 | |||||||||||||||||||||||||||||
Premiums | i — | i — | i 17,165 | i 17 | i — | i 17,182 | |||||||||||||||||||||||||||||
Net investment income | i — | i — | i 121 | i 83 | i — | i 204 | |||||||||||||||||||||||||||||
Other | i 206 | i 377 | i 1,412 | i 16 | ( i 143) | i 1,868 | |||||||||||||||||||||||||||||
Total | $ | i 35,711 | $ | i 22,725 | $ | i 18,698 | $ | i 116 | $ | ( i 10,194) | $ | i 67,056 | |||||||||||||||||||||||
Pharmacy Services distribution channel: | |||||||||||||||||||||||||||||||||||
Pharmacy network (1) | $ | i 21,473 | |||||||||||||||||||||||||||||||||
Mail
choice (2) | i 14,032 | ||||||||||||||||||||||||||||||||||
Other | i 206 | ||||||||||||||||||||||||||||||||||
Total | $ | i 35,711 | |||||||||||||||||||||||||||||||||
Three Months Ended September 30, 2019 | |||||||||||||||||||||||||||||||||||
Major goods/services lines: | |||||||||||||||||||||||||||||||||||
Pharmacy (3) | $ | i 35,872 | $ | i 16,687 | $ | i — | $ | i — | $ | ( i 9,999) | $ | i 42,560 | |||||||||||||||||||||||
Front Store | i — | i 4,614 | i — | i — | i — | i 4,614 | |||||||||||||||||||||||||||||
Premiums | i — | i — | i 15,507 | i 32 | i — | i 15,539 | |||||||||||||||||||||||||||||
Net investment income | i — | i — | i 146 | i 117 | i — | i 263 | |||||||||||||||||||||||||||||
Other
(3) | i 146 | i 165 | i 1,528 | i 3 | ( i 8) | i 1,834 | |||||||||||||||||||||||||||||
Total | $ | i 36,018 | $ | i 21,466 | $ | i 17,181 | $ | i 152 | $ | ( i 10,007) | $ | i 64,810 | |||||||||||||||||||||||
Pharmacy Services distribution channel: | |||||||||||||||||||||||||||||||||||
Pharmacy network (1) (3) | $ | i 22,411 | |||||||||||||||||||||||||||||||||
Mail
choice (2) (3) | i 13,461 | ||||||||||||||||||||||||||||||||||
Other | i 146 | ||||||||||||||||||||||||||||||||||
Total | $ | i 36,018 |
In millions | Pharmacy Services | Retail/ LTC | Health Care Benefits | Corporate/ Other | Intersegment Eliminations | Consolidated Totals | |||||||||||||||||||||||||||||
Nine Months Ended September 30, 2020 | |||||||||||||||||||||||||||||||||||
Major goods/services lines: | |||||||||||||||||||||||||||||||||||
Pharmacy | $ | i 104,924 | $ | i 51,833 | $ | i — | $ | i — | $ | ( i 30,032) | $ | i 126,725 | |||||||||||||||||||||||
Front Store | i — | i 14,601 | i — | i — | i — | i 14,601 | |||||||||||||||||||||||||||||
Premiums | i — | i — | i 51,699 | i 50 | i — | i 51,749 | |||||||||||||||||||||||||||||
Net investment income | i — | i — | i 341 | i 209 | i — | i 550 | |||||||||||||||||||||||||||||
Other | i 659 | i 702 | i 4,324 | i 33 | ( i 191) | i 5,527 | |||||||||||||||||||||||||||||
Total | $ | i 105,583 | $ | i 67,136 | $ | i 56,364 | $ | i 292 | $ | ( i 30,223) | $ | i 199,152 | |||||||||||||||||||||||
Pharmacy Services distribution channel: | |||||||||||||||||||||||||||||||||||
Pharmacy network (1) | $ | i 63,109 | |||||||||||||||||||||||||||||||||
Mail
choice (2) | i 41,815 | ||||||||||||||||||||||||||||||||||
Other | i 659 | ||||||||||||||||||||||||||||||||||
Total | $ | i 105,583 | |||||||||||||||||||||||||||||||||
Nine Months Ended September 30, 2019 | |||||||||||||||||||||||||||||||||||
Major goods/services lines: | |||||||||||||||||||||||||||||||||||
Pharmacy (3) | $ | i 103,983 | $ | i 49,197 | $ | i — | $ | i — | $ | ( i 31,416) | $ | i 121,764 | |||||||||||||||||||||||
Front Store | i — | i 14,288 | i — | i — | i — | i 14,288 | |||||||||||||||||||||||||||||
Premiums | i — | i — | i 47,543 | i 69 | i — | i 47,612 | |||||||||||||||||||||||||||||
Net investment income | i — | i — | i 458 | i 347 | i — | i 805 | |||||||||||||||||||||||||||||
Other
(3) | i 435 | i 543 | i 4,453 | i 7 | ( i 20) | i 5,418 | |||||||||||||||||||||||||||||
Total | $ | i 104,418 | $ | i 64,028 | $ | i 52,454 | $ | i 423 | $ | ( i 31,436) | $ | i 189,887 | |||||||||||||||||||||||
Pharmacy Services distribution channel: | |||||||||||||||||||||||||||||||||||
Pharmacy network (1) (3) | $ | i 65,917 | |||||||||||||||||||||||||||||||||
Mail
choice (2) (3) | i 38,066 | ||||||||||||||||||||||||||||||||||
Other | i 435 | ||||||||||||||||||||||||||||||||||
Total | $ | i 104,418 |
In millions | September 30, 2020 | December 31, 2019 | |||||||||
Trade receivables (included in accounts receivable, net) | $ | i 7,265 | $ | i 6,717 | |||||||
Contract liabilities (included in accrued expenses) | i 75 | i 73 |
Nine
Months Ended September 30, | |||||||||||
In millions | 2020 | 2019 | |||||||||
Contract liabilities, beginning of the period | $ | i 73 | $ | i 67 | |||||||
Rewards earnings and gift card issuances | i 266 | i 269 | |||||||||
Redemption and breakage | ( i 264) | ( i 264) | |||||||||
Contract liabilities, end of the period | $ | i 75 | $ | i 72 |
September 30, 2020 | December 31, 2019 | ||||||||||||||||||||||||||||||||||
In millions | Current | Long-term | Total | Current | Long-term | Total | |||||||||||||||||||||||||||||
Debt securities available for sale | $ | i 2,578 | $ | i 17,820 | $ | i 20,398 | $ | i 2,251 | $ | i 14,671 | $ | i 16,922 | |||||||||||||||||||||||
Mortgage loans | i 253 | i 871 | i 1,124 | i 122 | i 1,091 | i 1,213 | |||||||||||||||||||||||||||||
Other investments | i — | i 1,525 | i 1,525 | i — | i 1,552 | i 1,552 | |||||||||||||||||||||||||||||
Total investments | $ | i 2,831 | $ | i 20,216 | $ | i 23,047 | $ | i 2,373 | $ | i 17,314 | $ | i 19,687 |
In millions | Gross Amortized Cost | Allowance for Credit Losses (1) | Net Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value | |||||||||||||||||||||||||||||
September 30, 2020 | |||||||||||||||||||||||||||||||||||
Debt securities: | |||||||||||||||||||||||||||||||||||
U.S. government securities | $ | i 2,455 | $ | i — | $ | i 2,455 | $ | i 146 | $ | i — | $ | i 2,601 | |||||||||||||||||||||||
States, municipalities and political subdivisions | i 2,393 | i — | i 2,393 | i 150 | ( i 3) | i 2,540 | |||||||||||||||||||||||||||||
U.S. corporate securities | i 7,665 | ( i 4) | i 7,661 | i 878 | ( i 15) | i 8,524 | |||||||||||||||||||||||||||||
Foreign securities | i 2,479 | i — | i 2,479 | i 252 | ( i 10) | i 2,721 | |||||||||||||||||||||||||||||
Residential mortgage-backed securities | i 680 | i — | i 680 | i 33 | i — | i 713 | |||||||||||||||||||||||||||||
Commercial mortgage-backed securities | i 930 | i — | i 930 | i 82 | i — | i 1,012 | |||||||||||||||||||||||||||||
Other asset-backed securities | i 2,239 | i — | i 2,239 | i 33 | ( i 10) | i 2,262 | |||||||||||||||||||||||||||||
Redeemable preferred securities | i 22 | i — | i 22 | i 3 | i — | i 25 | |||||||||||||||||||||||||||||
Total
debt securities (2) | $ | i 18,863 | $ | ( i 4) | $ | i 18,859 | $ | i 1,577 | $ | ( i 38) | $ | i 20,398 | |||||||||||||||||||||||
December 31, 2019 | |||||||||||||||||||||||||||||||||||
Debt securities: | |||||||||||||||||||||||||||||||||||
U.S. government securities | $ | i 1,791 | $ | i — | $ | i 1,791 | $ | i 62 | $ | ( i 1) | $ | i 1,852 | |||||||||||||||||||||||
States, municipalities and political subdivisions | i 2,202 | i — | i 2,202 | i 108 | ( i 1) | i 2,309 | |||||||||||||||||||||||||||||
U.S. corporate securities | i 7,167 | i — | i 7,167 | i 573 | ( i 3) | i 7,737 | |||||||||||||||||||||||||||||
Foreign securities | i 2,149 | i — | i 2,149 | i 200 | ( i 1) | i 2,348 | |||||||||||||||||||||||||||||
Residential mortgage-backed securities | i 508 | i — | i 508 | i 25 | i — | i 533 | |||||||||||||||||||||||||||||
Commercial mortgage-backed securities | i 654 | i — | i 654 | i 46 | i — | i 700 | |||||||||||||||||||||||||||||
Other asset-backed securities | i 1,397 | i — | i 1,397 | i 13 | ( i 5) | i 1,405 | |||||||||||||||||||||||||||||
Redeemable preferred securities | i 30 | i — | i 30 | i 8 | i — | i 38 | |||||||||||||||||||||||||||||
Total
debt securities (2) | $ | i 15,898 | $ | i — | $ | i 15,898 | $ | i 1,035 | $ | ( i 11) | $ | i 16,922 |
In millions | Net Amortized Cost | Fair Value | |||||||||
Due to mature: | |||||||||||
Less than one year | $ | i 1,588 | $ | i 1,604 | |||||||
One year through five years | i 6,009 | i 6,329 | |||||||||
After five years through ten years | i 3,466 | i 3,774 | |||||||||
Greater than ten years | i 3,947 | i 4,704 | |||||||||
Residential mortgage-backed securities | i 680 | i 713 | |||||||||
Commercial mortgage-backed securities | i 930 | i 1,012 | |||||||||
Other asset-backed securities | i 2,239 | i 2,262 | |||||||||
Total | $ | i 18,859 | $ | i 20,398 |
Less than 12 months | Greater than 12 months | Total | |||||||||||||||||||||||||||||||||||||||||||||||||||
In millions, except number of securities | Number of Securities | Fair Value | Unrealized Losses | Number of Securities | Fair Value | Unrealized Losses | Number of Securities | Fair Value | Unrealized Losses | ||||||||||||||||||||||||||||||||||||||||||||
September 30, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt securities: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government securities | i 58 | $ | i 311 | $ | i — | i — | $ | i — | $ | i — | i 58 | $ | i 311 | $ | i — | ||||||||||||||||||||||||||||||||||||||
States, municipalities and political subdivisions | i 95 | i 196 | i 3 | i — | i — | i — | i 95 | i 196 | i 3 | ||||||||||||||||||||||||||||||||||||||||||||
U.S. corporate securities | i 704 | i 639 | i 15 | i 4 | i 2 | i — | i 708 | i 641 | i 15 | ||||||||||||||||||||||||||||||||||||||||||||
Foreign securities | i 198 | i 312 | i 10 | i — | i — | i — | i 198 | i 312 | i 10 | ||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage-backed securities | i 19 | i 70 | i — | i 3 | i — | i — | i 22 | i 70 | i — | ||||||||||||||||||||||||||||||||||||||||||||
Commercial mortgage-backed securities | i 28 | i 106 | i — | i — | i — | i — | i 28 | i 106 | i — | ||||||||||||||||||||||||||||||||||||||||||||
Other asset-backed securities | i 288 | i 543 | i 7 | i 90 | i 80 | i 3 | i 378 | i 623 | i 10 | ||||||||||||||||||||||||||||||||||||||||||||
Total debt securities | i 1,390 | $ | i 2,177 | $ | i 35 | i 97 | $ | i 82 | $ | i 3 | i 1,487 | $ | i 2,259 | $ | i 38 | ||||||||||||||||||||||||||||||||||||||
December 31, 2019 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt securities: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government securities | i 52 | $ | i 168 | $ | i 1 | i — | $ | i — | $ | i — | i 52 | $ | i 168 | $ | i 1 | ||||||||||||||||||||||||||||||||||||||
States, municipalities and political subdivisions | i 66 | i 115 | i 1 | i 2 | i 5 | i — | i 68 | i 120 | i 1 | ||||||||||||||||||||||||||||||||||||||||||||
U.S. corporate securities | i 181 | i 305 | i 2 | i 2 | i — | i 1 | i 183 | i 305 | i 3 | ||||||||||||||||||||||||||||||||||||||||||||
Foreign securities | i 39 | i 75 | i 1 | i — | i — | i — | i 39 | i 75 | i 1 | ||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage-backed securities | i 30 | i 16 | i — | i 9 | i — | i — | i 39 | i 16 | i — | ||||||||||||||||||||||||||||||||||||||||||||
Commercial mortgage-backed securities | i 16 | i 49 | i — | i — | i — | i — | i 16 | i 49 | i — | ||||||||||||||||||||||||||||||||||||||||||||
Other asset-backed securities | i 138 | i 254 | i 1 | i 187 | i 182 | i 4 | i 325 | i 436 | i 5 | ||||||||||||||||||||||||||||||||||||||||||||
Total debt securities | i 522 | $ | i 982 | $ | i 6 | i 200 | $ | i 187 | $ | i 5 | i 722 | $ | i 1,169 | $ | i 11 |
Supporting experience-rated products | Supporting
remaining products | Total | |||||||||||||||||||||||||||||||||
In millions | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | |||||||||||||||||||||||||||||
Due to mature: | |||||||||||||||||||||||||||||||||||
Less than one year | $ | i — | $ | i — | $ | i 36 | $ | i — | $ | i 36 | $ | i — | |||||||||||||||||||||||
One year through five years | i 1 | i — | i 623 | i 7 | i 624 | i 7 | |||||||||||||||||||||||||||||
After five years through ten years | i 11 | i 1 | i 493 | i 12 | i 504 | i 13 | |||||||||||||||||||||||||||||
Greater than ten years | i 11 | i — | i 285 | i 8 | i 296 | i 8 | |||||||||||||||||||||||||||||
Residential mortgage-backed securities | i — | i — | i 70 | i — | i 70 | i — | |||||||||||||||||||||||||||||
Commercial mortgage-backed securities | i 2 | i — | i 104 | i — | i 106 | i — | |||||||||||||||||||||||||||||
Other asset-backed securities | i 7 | i — | i 616 | i 10 | i 623 | i 10 | |||||||||||||||||||||||||||||
Total | $ | i 32 | $ | i 1 | $ | i 2,227 | $ | i 37 | $ | i 2,259 | $ | i 38 |
Three
Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
In millions | 2020 | 2019 | 2020 | 2019 | |||||||||||||||||||
New mortgage loans | $ | i 31 | $ | i 12 | $ | i 55 | $ | i 90 | |||||||||||||||
Mortgage loans fully repaid | i 37 | i 56 | i 114 | i 127 | |||||||||||||||||||
Mortgage loans foreclosed | i — | i — | i — | i — |
Amortized Cost Basis by Year of Origination | |||||||||||||||||||||||||||||||||||||||||
In millions, except credit quality indicator | 2020 | 2019 | 2018 | 2017 | 2016 | Prior | Total | ||||||||||||||||||||||||||||||||||
September 30, 2020 | |||||||||||||||||||||||||||||||||||||||||
1 | $ | i — | $ | i — | $ | i — | $ | i 23 | $ | i — | $ | i 39 | $ | i 62 | |||||||||||||||||||||||||||
2 to 4 | i 57 | i 95 | i 90 | i 129 | i 129 | i 516 | i 1,016 | ||||||||||||||||||||||||||||||||||
5 and 6 | i — | i — | i 4 | i 4 | i — | i 29 | i 37 | ||||||||||||||||||||||||||||||||||
7 | i — | i — | i — | i 9 | i — | i — | i 9 | ||||||||||||||||||||||||||||||||||
Total | $ | i 57 | $ | i 95 | $ | i 94 | $ | i 165 | $ | i 129 | $ | i 584 | $ | i 1,124 | |||||||||||||||||||||||||||
December 31, 2019 | |||||||||||||||||||||||||||||||||||||||||
1 | $ | i — | $ | i — | $ | i 15 | $ | i — | $ | i 43 | $ | i 58 | |||||||||||||||||||||||||||||
2 to 4 | i 93 | i 93 | i 206 | i 140 | i 611 | i 1,143 | |||||||||||||||||||||||||||||||||||
5 and 6 | i — | i — | i — | i — | i 12 | i 12 | |||||||||||||||||||||||||||||||||||
7 | i — | i — | i — | i — | i — | i — | |||||||||||||||||||||||||||||||||||
Total | $ | i 93 | $ | i 93 | $ | i 221 | $ | i 140 | $ | i 666 | $ | i 1,213 |
Three
Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
In millions | 2020 | 2019 | 2020 | 2019 | |||||||||||||||||||
Debt securities | $ | i 151 | $ | i 145 | $ | i 441 | $ | i 437 | |||||||||||||||
Mortgage loans | i 15 | i 19 | i 45 | i 54 | |||||||||||||||||||
Other investments | i 37 | i 60 | i 64 | i 163 | |||||||||||||||||||
Gross investment income | i 203 | i 224 | i 550 | i 654 | |||||||||||||||||||
Investment expenses | ( i 8) | ( i 10) | ( i 25) | ( i 28) | |||||||||||||||||||
Net investment income (excluding net realized capital gains or losses) | i 195 | i 214 | i 525 | i 626 | |||||||||||||||||||
Net
realized capital gains (1) | i 9 | i 49 | i 25 | i 179 | |||||||||||||||||||
Net
investment income (2) | $ | i 204 | $ | i 263 | $ | i 550 | $ | i 805 |
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
In millions | 2020 | 2019 | 2020 | 2019 | |||||||||||||||||||
Proceeds from sales | $ | i 905 | $ | i 1,325 | $ | i 2,324 | $ | i 4,087 | |||||||||||||||
Gross realized capital gains | i 17 | i 55 | i 60 | i 127 | |||||||||||||||||||
Gross realized capital losses | i 3 | i 9 | i 59 | i 13 |
In millions | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||
September 30, 2020 | |||||||||||||||||||||||
Cash and cash equivalents | $ | i 5,670 | $ | i 3,586 | $ | i — | $ | i 9,256 | |||||||||||||||
Debt securities: | |||||||||||||||||||||||
U.S. government securities | i 2,498 | i 103 | i — | i 2,601 | |||||||||||||||||||
States, municipalities and political subdivisions | i — | i 2,540 | i — | i 2,540 | |||||||||||||||||||
U.S. corporate securities | i — | i 8,476 | i 48 | i 8,524 | |||||||||||||||||||
Foreign securities | i — | i 2,721 | i — | i 2,721 | |||||||||||||||||||
Residential mortgage-backed securities | i — | i 713 | i — | i 713 | |||||||||||||||||||
Commercial mortgage-backed securities | i — | i 1,012 | i — | i 1,012 | |||||||||||||||||||
Other asset-backed securities | i — | i 2,262 | i — | i 2,262 | |||||||||||||||||||
Redeemable preferred securities | i — | i 24 | i 1 | i 25 | |||||||||||||||||||
Total debt securities | i 2,498 | i 17,851 | i 49 | i 20,398 | |||||||||||||||||||
Equity securities | i 20 | i — | i 26 | i 46 | |||||||||||||||||||
Total | $ | i 8,188 | $ | i 21,437 | $ | i 75 | $ | i 29,700 | |||||||||||||||
December 31, 2019 | |||||||||||||||||||||||
Cash and cash equivalents | $ | i 3,397 | $ | i 2,286 | $ | i — | $ | i 5,683 | |||||||||||||||
Debt securities: | |||||||||||||||||||||||
U.S. government securities | i 1,785 | i 67 | i — | i 1,852 | |||||||||||||||||||
States, municipalities and political subdivisions | i — | i 2,309 | i — | i 2,309 | |||||||||||||||||||
U.S. corporate securities | i — | i 7,700 | i 37 | i 7,737 | |||||||||||||||||||
Foreign securities | i — | i 2,348 | i — | i 2,348 | |||||||||||||||||||
Residential mortgage-backed securities | i — | i 533 | i — | i 533 | |||||||||||||||||||
Commercial mortgage-backed securities | i — | i 700 | i — | i 700 | |||||||||||||||||||
Other asset-backed securities | i — | i 1,405 | i — | i 1,405 | |||||||||||||||||||
Redeemable preferred securities | i — | i 26 | i 12 | i 38 | |||||||||||||||||||
Total debt securities | i 1,785 | i 15,088 | i 49 | i 16,922 | |||||||||||||||||||
Equity securities | i 34 | i — | i 39 | i 73 | |||||||||||||||||||
Total | $ | i 5,216 | $ | i 17,374 | $ | i 88 | $ | i 22,678 |
Carrying Value | Estimated Fair Value | ||||||||||||||||||||||||||||
In millions | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||||||
September 30, 2020 | |||||||||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||||||
Mortgage loans | $ | i 1,124 | $ | i — | $ | i — | $ | i 1,148 | $ | i 1,148 | |||||||||||||||||||
Equity
securities (1) | i 146 | N/A | N/A | N/A | N/A | ||||||||||||||||||||||||
Liabilities: | |||||||||||||||||||||||||||||
Investment contract liabilities: | |||||||||||||||||||||||||||||
With a fixed maturity | i 5 | i — | i — | i 5 | i 5 | ||||||||||||||||||||||||
Without a fixed maturity | i 322 | i — | i — | i 370 | i 370 | ||||||||||||||||||||||||
Long-term debt | i 66,995 | i 76,642 | i — | i — | i 76,642 | ||||||||||||||||||||||||
December 31, 2019 | |||||||||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||||||
Mortgage loans | $ | i 1,213 | $ | i — | $ | i — | $ | i 1,239 | $ | i 1,239 | |||||||||||||||||||
Equity
securities (1) | i 149 | N/A | N/A | N/A | N/A | ||||||||||||||||||||||||
Liabilities: | |||||||||||||||||||||||||||||
Investment contract liabilities: | |||||||||||||||||||||||||||||
With a fixed maturity | i 5 | i — | i — | i 5 | i 5 | ||||||||||||||||||||||||
Without a fixed maturity | i 372 | i — | i — | i 392 | i 392 | ||||||||||||||||||||||||
Long-term debt | i 68,480 | i 74,306 | i — | i — | i 74,306 |
September 30, 2020 | December 31, 2019 | |||||||||||||||||||||||||||||||||||||||||||||||||
In millions | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | i 2 | $ | i 72 | $ | i — | $ | i 74 | $ | i 2 | $ | i 143 | $ | i — | $ | i 145 | ||||||||||||||||||||||||||||||||||
Debt securities | i 1,538 | i 2,576 | i — | i 4,114 | i 1,224 | i 2,589 | i — | i 3,813 | ||||||||||||||||||||||||||||||||||||||||||
Equity securities | i — | i 2 | i — | i 2 | i — | i 2 | i — | i 2 | ||||||||||||||||||||||||||||||||||||||||||
Common/collective trusts | i — | i 603 | i — | i 603 | i — | i 499 | i — | i 499 | ||||||||||||||||||||||||||||||||||||||||||
Total | $ | i 1,540 | $ | i 3,253 | $ | i — | $ | i 4,793 | $ | i 1,226 | $ | i 3,233 | $ | i — | $ | i 4,459 |
Nine
Months Ended September 30, | |||||||||||
In millions | 2020 | 2019 | |||||||||
Health care costs payable, beginning of the period | $ | i 6,879 | $ | i 6,147 | |||||||
Less: Reinsurance recoverables | i 5 | i 4 | |||||||||
Health care costs payable, beginning of the period, net | i 6,874 | i 6,143 | |||||||||
Acquisition | i 444 | i — | |||||||||
Add: Components of incurred health care costs | |||||||||||
Current year | i 40,777 | i 39,657 | |||||||||
Prior years | ( i 448) | ( i 511) | |||||||||
Total
incurred health care costs (1) | i 40,329 | i 39,146 | |||||||||
Less: Claims paid | |||||||||||
Current year | i 34,198 | i 33,032 | |||||||||
Prior years | i 5,865 | i 5,253 | |||||||||
Total claims paid | i 40,063 | i 38,285 | |||||||||
Add: Premium deficiency reserve | i 1 | i 6 | |||||||||
Health care costs payable, end of the period, net | i 7,585 | i 7,010 | |||||||||
Add: Reinsurance recoverables | i 8 | i 4 | |||||||||
Health care costs payable, end of the period | $ | i 7,593 | $ | i 7,014 |
In millions | September 30, 2020 | December 31, 2019 | |||||||||
Long-term debt | |||||||||||
i 3.125% senior notes due March 2020 | $ | i — | $ | i 723 | |||||||
Floating
rate notes due March 2020 ( i 2.515% at December 31, 2019) | i — | i 277 | |||||||||
i 2.8%
senior notes due July 2020 | i — | i 2,750 | |||||||||
i 3.35%
senior notes due March 2021 | i 2,038 | i 2,038 | |||||||||
Floating
rate notes due March 2021 ( i 0.968% at September 30, 2020 and i 2.605% at December
31, 2019) | i 1,000 | i 1,000 | |||||||||
i 4.125%
senior notes due May 2021 | i 222 | i 222 | |||||||||
i 2.125%
senior notes due June 2021 | i 1,750 | i 1,750 | |||||||||
i 4.125%
senior notes due June 2021 | i 203 | i 203 | |||||||||
i 5.45%
senior notes due June 2021 | i 187 | i 187 | |||||||||
i 3.5%
senior notes due July 2022 | i 1,500 | i 1,500 | |||||||||
i 2.75%
senior notes due November 2022 | i 1,000 | i 1,000 | |||||||||
i 2.75%
senior notes due December 2022 | i 1,250 | i 1,250 | |||||||||
i 4.75%
senior notes due December 2022 | i 399 | i 399 | |||||||||
i 3.7%
senior notes due March 2023 | i 3,723 | i 6,000 | |||||||||
i 2.8%
senior notes due June 2023 | i 1,300 | i 1,300 | |||||||||
i 4%
senior notes due December 2023 | i 527 | i 1,250 | |||||||||
i 3.375%
senior notes due August 2024 | i 650 | i 650 | |||||||||
i 2.625%
senior notes due August 2024 | i 1,000 | i 1,000 | |||||||||
i 3.5%
senior notes due November 2024 | i 750 | i 750 | |||||||||
i 5%
senior notes due December 2024 | i 299 | i 299 | |||||||||
i 4.1%
senior notes due March 2025 | i 2,000 | i 5,000 | |||||||||
i 3.875%
senior notes due July 2025 | i 2,828 | i 2,828 | |||||||||
i 2.875%
senior notes due June 2026 | i 1,750 | i 1,750 | |||||||||
i 3%
senior notes due August 2026 | i 750 | i 750 | |||||||||
i 3.625%
senior notes due April 2027 | i 750 | i — | |||||||||
i 6.25%
senior notes due June 2027 | i 372 | i 372 | |||||||||
i 1.3%
senior notes due August 2027 | i 1,500 | i — | |||||||||
i 4.3%
senior notes due March 2028 | i 9,000 | i 9,000 | |||||||||
i 3.25%
senior notes due August 2029 | i 1,750 | i 1,750 | |||||||||
i 3.75%
senior notes due April 2030 | i 1,500 | i — | |||||||||
i 1.75%
senior notes due August 2030 | i 1,250 | i — | |||||||||
i 4.875%
senior notes due July 2035 | i 652 | i 652 | |||||||||
i 6.625%
senior notes due June 2036 | i 771 | i 771 | |||||||||
i 6.75%
senior notes due December 2037 | i 533 | i 533 | |||||||||
i 4.78%
senior notes due March 2038 | i 5,000 | i 5,000 | |||||||||
i 6.125%
senior notes due September 2039 | i 447 | i 447 | |||||||||
i 4.125%
senior notes due April 2040 | i 1,000 | i — | |||||||||
i 2.7%
senior notes due August 2040 | i 1,250 | i — | |||||||||
i 5.75%
senior notes due May 2041 | i 133 | i 133 | |||||||||
i 4.5%
senior notes due May 2042 | i 500 | i 500 | |||||||||
i 4.125%
senior notes due November 2042 | i 500 | i 500 | |||||||||
i 5.3%
senior notes due December 2043 | i 750 | i 750 | |||||||||
i 4.75%
senior notes due March 2044 | i 375 | i 375 | |||||||||
i 5.125%
senior notes due July 2045 | i 3,500 | i 3,500 | |||||||||
i 3.875%
senior notes due August 2047 | i 1,000 | i 1,000 | |||||||||
i 5.05%
senior notes due March 2048 | i 8,000 | i 8,000 | |||||||||
i 4.25%
senior notes due April 2050 | i 750 | i — | |||||||||
Finance lease obligations | i 1,036 | i 808 | |||||||||
Other | i 276 | i 279 | |||||||||
Total debt principal | i 67,721 | i 69,246 | |||||||||
Debt premiums | i 245 | i 262 | |||||||||
Debt discounts and deferred financing costs | ( i 971) | ( i 1,028) | |||||||||
i 66,995 | i 68,480 | ||||||||||
Less: | |||||||||||
Current portion of long-term debt | ( i 5,443) | ( i 3,781) | |||||||||
Long-term debt | $ | i 61,552 | $ | i 64,699 |
Three
Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
In millions | 2020 | 2019 | 2020 | 2019 | |||||||||||||||||||
Net unrealized investment gains: | |||||||||||||||||||||||
Beginning of period balance | $ | i 987 | $ | i 682 | $ | i 774 | $ | i 97 | |||||||||||||||
Other
comprehensive income before reclassifications ($ i 83, $ i 214,
$ i 278 and $ i 933 pretax) | i 52 | i 192 | i 218 | i 799 | |||||||||||||||||||
Amounts
reclassified from accumulated other comprehensive income ($( i 10), $( i 63),
$ i 47 and $( i 93)
pretax) (1) | ( i 8) | ( i 56) | i 39 | ( i 78) | |||||||||||||||||||
Other comprehensive income | i 44 | i 136 | i 257 | i 721 | |||||||||||||||||||
End of period balance | i 1,031 | i 818 | i 1,031 | i 818 | |||||||||||||||||||
Foreign currency translation adjustments: | |||||||||||||||||||||||
Beginning of period balance | ( i 2) | ( i 154) | i 4 | ( i 158) | |||||||||||||||||||
Other comprehensive income (loss) before reclassifications | i 1 | ( i 1) | ( i 5) | i 3 | |||||||||||||||||||
Amounts
reclassified from accumulated other comprehensive income (loss) (2) | i — | i 154 | i — | i 154 | |||||||||||||||||||
Other comprehensive income (loss) | i 1 | i 153 | ( i 5) | i 157 | |||||||||||||||||||
End of period balance | ( i 1) | ( i 1) | ( i 1) | ( i 1) | |||||||||||||||||||
Net cash flow hedges: | |||||||||||||||||||||||
Beginning of period balance | i 267 | i 305 | i 279 | i 312 | |||||||||||||||||||
Other
comprehensive loss before reclassifications ($ i 0, $( i 25),
$( i 7) and $( i 25) pretax) | i — | ( i 18) | ( i 5) | ( i 18) | |||||||||||||||||||
Amounts
reclassified from accumulated other comprehensive income ($( i 4), $( i 7),
$( i 14) and $( i 16)
pretax) (3) | ( i 3) | ( i 5) | ( i 10) | ( i 12) | |||||||||||||||||||
Other comprehensive loss | ( i 3) | ( i 23) | ( i 15) | ( i 30) | |||||||||||||||||||
End of period balance | i 264 | i 282 | i 264 | i 282 | |||||||||||||||||||
Pension and other postretirement benefits: | |||||||||||||||||||||||
Beginning of period balance | ( i 39) | ( i 149) | ( i 38) | ( i 149) | |||||||||||||||||||
Other
comprehensive loss before reclassifications ($ i 0, $ i 0,
$( i 8) and $ i 0 pretax) | i — | i — | ( i 6) | i — | |||||||||||||||||||
Amounts
reclassified from accumulated other comprehensive loss ($ i 0, $ i 0,
$ i 7 and $ i 0
pretax) (4) | i — | i — | i 5 | i — | |||||||||||||||||||
Other comprehensive loss | i — | i — | ( i 1) | i — | |||||||||||||||||||
End of period balance | ( i 39) | ( i 149) | ( i 39) | ( i 149) | |||||||||||||||||||
Total beginning of period accumulated other comprehensive income | i 1,213 | i 684 | i 1,019 | i 102 | |||||||||||||||||||
Total other comprehensive income | i 42 | i 266 | i 236 | i 848 | |||||||||||||||||||
Total end of period accumulated other comprehensive income | $ | i 1,255 | $ | i 950 | $ | i 1,255 | $ | i 950 |
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
In millions, except per share amounts | 2020 | 2019 | 2020 | 2019 | |||||||||||||||||||
Numerator for earnings per share calculation: | |||||||||||||||||||||||
Net income | $ | i 1,219 | $ | i 1,529 | $ | i 6,217 | $ | i 4,887 | |||||||||||||||
Income allocated to participating securities | i — | i — | i — | ( i 3) | |||||||||||||||||||
Net (income) loss attributable to noncontrolling interests | i 5 | i 1 | ( i 11) | i — | |||||||||||||||||||
Net
income attributable to CVS Health | $ | i 1,224 | $ | i 1,530 | $ | i 6,206 | $ | i 4,884 | |||||||||||||||
Denominator for earnings per share calculation: | |||||||||||||||||||||||
Weighted average shares, basic | i 1,310 | i 1,302 | i 1,308 | i 1,300 | |||||||||||||||||||
Effect of dilutive securities | i 5 | i 3 | i 6 | i 3 | |||||||||||||||||||
Weighted average shares, diluted | i 1,315 | i 1,305 | i 1,314 | i 1,303 | |||||||||||||||||||
Earnings per share: | |||||||||||||||||||||||
Basic | $ | i 0.93 | $ | i 1.17 | $ | i 4.74 | $ | i 3.76 | |||||||||||||||
Diluted | $ | i 0.93 | $ | i 1.17 | $ | i 4.72 | $ | i 3.75 |
In millions | Pharmacy Services
(1) | Retail/ LTC | Health Care Benefits | Corporate/ Other | Intersegment Eliminations | Consolidated Totals | |||||||||||||||||||||||||||||
Three Months Ended | |||||||||||||||||||||||||||||||||||
September 30, 2020 | |||||||||||||||||||||||||||||||||||
Revenues from external customers | $ | i 33,492 | $ | i 14,770 | $ | i 18,557 | $ | i 33 | $ | — | $ | i 66,852 | |||||||||||||||||||||||
Intersegment revenues | i 2,219 | i 7,955 | i 20 | i — | ( i 10,194) | — | |||||||||||||||||||||||||||||
Net investment income | i — | i — | i 121 | i 83 | i — | i 204 | |||||||||||||||||||||||||||||
Total revenues | i 35,711 | i 22,725 | i 18,698 | i 116 | ( i 10,194) | i 67,056 | |||||||||||||||||||||||||||||
Adjusted operating income (loss) | i 1,619 | i 1,412 | i 1,080 | ( i 303) | ( i 186) | i 3,622 | |||||||||||||||||||||||||||||
September 30, 2019 | |||||||||||||||||||||||||||||||||||
Revenues from external customers | $ | i 33,680 | $ | i 13,805 | $ | i 17,027 | $ | i 35 | $ | — | $ | i 64,547 | |||||||||||||||||||||||
Intersegment revenues | i 2,338 | i 7,661 | i 8 | i — | ( i 10,007) | — | |||||||||||||||||||||||||||||
Net investment income | i — | i — | i 146 | i 117 | i — | i 263 | |||||||||||||||||||||||||||||
Total revenues | i 36,018 | i 21,466 | i 17,181 | i 152 | ( i 10,007) | i 64,810 | |||||||||||||||||||||||||||||
Adjusted operating income (loss) | i 1,439 | i 1,516 | i 1,423 | ( i 252) | ( i 179) | i 3,947 | |||||||||||||||||||||||||||||
Nine Months Ended | |||||||||||||||||||||||||||||||||||
September 30, 2020 | |||||||||||||||||||||||||||||||||||
Revenues from external customers | $ | i 98,233 | $ | i 44,314 | $ | i 55,972 | $ | i 83 | $ | — | $ | i 198,602 | |||||||||||||||||||||||
Intersegment revenues | i 7,350 | i 22,822 | i 51 | i — | ( i 30,223) | — | |||||||||||||||||||||||||||||
Net investment income | i — | i — | i 341 | i 209 | i — | i 550 | |||||||||||||||||||||||||||||
Total revenues | i 105,583 | i 67,136 | i 56,364 | i 292 | ( i 30,223) | i 199,152 | |||||||||||||||||||||||||||||
Adjusted operating income (loss) | i 4,127 | i 4,371 | i 6,035 | ( i 931) | ( i 539) | i 13,063 | |||||||||||||||||||||||||||||
September 30, 2019 | |||||||||||||||||||||||||||||||||||
Revenues from external customers | $ | i 95,494 | $ | i 41,536 | $ | i 51,976 | $ | i 76 | $ | — | $ | i 189,082 | |||||||||||||||||||||||
Intersegment revenues | i 8,924 | i 22,492 | i 20 | i — | ( i 31,436) | — | |||||||||||||||||||||||||||||
Net investment income | i — | i — | i 458 | i 347 | i — | i 805 | |||||||||||||||||||||||||||||
Total revenues | i 104,418 | i 64,028 | i 52,454 | i 423 | ( i 31,436) | i 189,887 | |||||||||||||||||||||||||||||
Adjusted operating income (loss) | i 3,682 | i 4,674 | i 4,423 | ( i 685) | ( i 521) | i 11,573 |
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
In millions | 2020 | 2019 | 2020 | 2019 | |||||||||||||||||||
Operating income (GAAP measure) | $ | i 3,249 | $ | i 2,928 | $ | i 11,387 | $ | i 8,950 | |||||||||||||||
Amortization
of intangible assets (1) | i 587 | i 607 | i 1,751 | i 1,822 | |||||||||||||||||||
Acquisition-related
integration costs (2) | i 57 | i 111 | i 196 | i 365 | |||||||||||||||||||
(Gain)
loss on divestiture of subsidiary (3) | ( i 271) | i 205 | ( i 271) | i 205 | |||||||||||||||||||
Store
rationalization charges (4) | i — | i 96 | i — | i 231 | |||||||||||||||||||
Adjusted operating income | $ | i 3,622 | $ | i 3,947 | $ | i 13,063 | $ | i 11,573 |
Change | |||||||||||||||||||||||||||||||||||||||||||||||
Three
Months Ended September 30, | Nine Months Ended September 30, | Three Months Ended September 30, 2020 vs 2019 | Nine Months Ended September 30, 2020 vs 2019 | ||||||||||||||||||||||||||||||||||||||||||||
In millions | 2020 | 2019 | 2020 | 2019 | $ | % | $ | % | |||||||||||||||||||||||||||||||||||||||
Revenues: | |||||||||||||||||||||||||||||||||||||||||||||||
Products | $ | 47,738 | $ | 47,149 | $ | 141,096 | $ | 136,023 | $ | 589 | 1.2 | % | $ | 5,073 | 3.7 | % | |||||||||||||||||||||||||||||||
Premiums | 17,182 | 15,539 | 51,749 | 47,612 | 1,643 | 10.6 | % | 4,137 | 8.7 | % | |||||||||||||||||||||||||||||||||||||
Services | 1,932 | 1,859 | 5,757 | 5,447 | 73 | 3.9 | % | 310 | 5.7 | % | |||||||||||||||||||||||||||||||||||||
Net investment income | 204 | 263 | 550 | 805 | (59) | (22.4) | % | (255) | (31.7) | % | |||||||||||||||||||||||||||||||||||||
Total revenues | 67,056 | 64,810 | 199,152 | 189,887 | 2,246 | 3.5 | % | 9,265 | 4.9 | % | |||||||||||||||||||||||||||||||||||||
Operating costs: | |||||||||||||||||||||||||||||||||||||||||||||||
Cost of products sold | 40,940 | 40,437 | 121,529 | 116,654 | 503 | 1.2 | % | 4,875 | 4.2 | % | |||||||||||||||||||||||||||||||||||||
Benefit costs | 14,396 | 12,850 | 40,534 | 39,396 | 1,546 | 12.0 | % | 1,138 | 2.9 | % | |||||||||||||||||||||||||||||||||||||
Operating expenses | 8,471 | 8,595 | 25,702 | 24,887 | (124) | (1.4) | % | 815 | 3.3 | % | |||||||||||||||||||||||||||||||||||||
Total operating costs | 63,807 | 61,882 | 187,765 | 180,937 | 1,925 | 3.1 | % | 6,828 | 3.8 | % | |||||||||||||||||||||||||||||||||||||
Operating income | 3,249 | 2,928 | 11,387 | 8,950 | 321 | 11.0 | % | 2,437 | 27.2 | % | |||||||||||||||||||||||||||||||||||||
Interest expense | 731 | 747 | 2,229 | 2,301 | (16) | (2.1) | % | (72) | (3.1) | % | |||||||||||||||||||||||||||||||||||||
Loss on early extinguishment of debt | 766 | 79 | 766 | 79 | 687 | 869.6 | % | 687 | 869.6 | % | |||||||||||||||||||||||||||||||||||||
Other income | (54) | (31) | (153) | (93) | (23) | (74.2) | % | (60) | (64.5) | % | |||||||||||||||||||||||||||||||||||||
Income before income tax provision | 1,806 | 2,133 | 8,545 | 6,663 | (327) | (15.3) | % | 1,882 | 28.2 | % | |||||||||||||||||||||||||||||||||||||
Income tax provision | 587 | 604 | 2,328 | 1,776 | (17) | (2.8) | % | 552 | 31.1 | % | |||||||||||||||||||||||||||||||||||||
Net income | 1,219 | 1,529 | 6,217 | 4,887 | (310) | (20.3) | % | 1,330 | 27.2 | % | |||||||||||||||||||||||||||||||||||||
Net (income) loss attributable to noncontrolling interests | 5 | 1 | (11) | — | 4 | 400.0 | % | (11) | (100.0) | % | |||||||||||||||||||||||||||||||||||||
Net income attributable to CVS Health | $ | 1,224 | $ | 1,530 | $ | 6,206 | $ | 4,887 | $ | (306) | (20.0) | % | $ | 1,319 | 27.0 | % |
In millions | Pharmacy Services
(1) | Retail/ LTC | Health Care Benefits | Corporate/ Other | Intersegment Eliminations (2) | Consolidated Totals | |||||||||||||||||||||||||||||
Three Months Ended | |||||||||||||||||||||||||||||||||||
September 30, 2020 | |||||||||||||||||||||||||||||||||||
Total revenues | $ | 35,711 | $ | 22,725 | $ | 18,698 | $ | 116 | $ | (10,194) | $ | 67,056 | |||||||||||||||||||||||
Adjusted operating income (loss) | 1,619 | 1,412 | 1,080 | (303) | (186) | 3,622 | |||||||||||||||||||||||||||||
September 30, 2019 | |||||||||||||||||||||||||||||||||||
Total revenues | 36,018 | 21,466 | 17,181 | 152 | (10,007) | 64,810 | |||||||||||||||||||||||||||||
Adjusted operating income (loss) | 1,439 | 1,516 | 1,423 | (252) | (179) | 3,947 | |||||||||||||||||||||||||||||
Nine Months Ended | |||||||||||||||||||||||||||||||||||
September 30, 2020 | |||||||||||||||||||||||||||||||||||
Total revenues | $ | 105,583 | $ | 67,136 | $ | 56,364 | $ | 292 | $ | (30,223) | $ | 199,152 | |||||||||||||||||||||||
Adjusted operating income (loss) | 4,127 | 4,371 | 6,035 | (931) | (539) | 13,063 | |||||||||||||||||||||||||||||
September 30, 2019 | |||||||||||||||||||||||||||||||||||
Total revenues | 104,418 | 64,028 | 52,454 | 423 | (31,436) | 189,887 | |||||||||||||||||||||||||||||
Adjusted operating income (loss) | 3,682 | 4,674 | 4,423 | (685) | (521) | 11,573 |
Three Months Ended September 30, 2020 | |||||||||||||||||||||||||||||||||||
In millions | Pharmacy Services | Retail/ LTC | Health Care Benefits | Corporate/ Other | Intersegment Eliminations | Consolidated Totals | |||||||||||||||||||||||||||||
Operating income (loss) (GAAP measure) | $ | 1,564 | $ | 1,283 | $ | 949 | $ | (361) | $ | (186) | $ | 3,249 | |||||||||||||||||||||||
Non-GAAP adjustments: | |||||||||||||||||||||||||||||||||||
Amortization of intangible assets (1) | 55 | 129 | 402 | 1 | — | 587 | |||||||||||||||||||||||||||||
Acquisition-related
integration costs (2) | — | — | — | 57 | — | 57 | |||||||||||||||||||||||||||||
Gain on divestiture of subsidiary (3) | — | — | (271) | — | — | (271) | |||||||||||||||||||||||||||||
Adjusted operating income (loss) | $ | 1,619 | $ | 1,412 | $ | 1,080 | $ | (303) | $ | (186) | $ | 3,622 |
Three Months Ended September 30, 2019 | |||||||||||||||||||||||||||||||||||
In millions | Pharmacy Services | Retail/ LTC | Health Care Benefits | Corporate/ Other | Intersegment Eliminations | Consolidated Totals | |||||||||||||||||||||||||||||
Operating income (loss) (GAAP measure) | $ | 1,340 | $ | 1,095 | $ | 1,036 | $ | (364) | $ | (179) | $ | 2,928 | |||||||||||||||||||||||
Non-GAAP adjustments: | |||||||||||||||||||||||||||||||||||
Amortization of intangible assets (1) | 99 | 120 | 387 | 1 | — | 607 | |||||||||||||||||||||||||||||
Acquisition-related
integration costs (2) | — | — | — | 111 | — | 111 | |||||||||||||||||||||||||||||
Loss on divestiture of subsidiary (3) | — | 205 | — | — | — | 205 | |||||||||||||||||||||||||||||
Store
rationalization charge (4) | — | 96 | — | — | — | 96 | |||||||||||||||||||||||||||||
Adjusted operating income (loss) | $ | 1,439 | $ | 1,516 | $ | 1,423 | $ | (252) | $ | (179) | $ | 3,947 |
Nine Months Ended September 30, 2020 | |||||||||||||||||||||||||||||||||||
In millions | Pharmacy Services | Retail/ LTC | Health Care Benefits | Corporate/ Other | Intersegment Eliminations | Consolidated Totals | |||||||||||||||||||||||||||||
Operating income (loss) (GAAP measure) | $ | 3,949 | $ | 3,996 | $ | 5,110 | $ | (1,129) | $ | (539) | $ | 11,387 | |||||||||||||||||||||||
Non-GAAP adjustments: | |||||||||||||||||||||||||||||||||||
Amortization of intangible assets (1) | 178 | 375 | 1,196 | 2 | — | 1,751 | |||||||||||||||||||||||||||||
Acquisition-related
integration costs (2) | — | — | — | 196 | — | 196 | |||||||||||||||||||||||||||||
Gain on divestiture of subsidiary (3) | — | — | (271) | — | — | (271) | |||||||||||||||||||||||||||||
Adjusted operating income (loss) | $ | 4,127 | $ | 4,371 | $ | 6,035 | $ | (931) | $ | (539) | $ | 13,063 |
Nine Months Ended September 30, 2019 | |||||||||||||||||||||||||||||||||||
In millions | Pharmacy Services | Retail/ LTC | Health Care Benefits | Corporate/ Other | Intersegment Eliminations | Consolidated Totals | |||||||||||||||||||||||||||||
Operating income (loss) (GAAP measure) | $ | 3,387 | $ | 3,884 | $ | 3,253 | $ | (1,053) | $ | (521) | $ | 8,950 | |||||||||||||||||||||||
Non-GAAP adjustments: | |||||||||||||||||||||||||||||||||||
Amortization of intangible assets (1) | 295 | 354 | 1,170 | 3 | — | 1,822 | |||||||||||||||||||||||||||||
Acquisition-related
integration costs (2) | — | — | — | 365 | — | 365 | |||||||||||||||||||||||||||||
Loss on divestiture of subsidiary (3) | — | 205 | — | — | — | 205 | |||||||||||||||||||||||||||||
Store
rationalization charges (4) | — | 231 | — | — | — | 231 | |||||||||||||||||||||||||||||
Adjusted operating income (loss) | $ | 3,682 | $ | 4,674 | $ | 4,423 | $ | (685) | $ | (521) | $ | 11,573 |
Change | |||||||||||||||||||||||||||||||||||||||||||||||
Three
Months Ended September 30, | Nine Months Ended September 30, | Three Months Ended September 30, 2020 vs 2019 | Nine Months Ended September 30, 2020 vs 2019 | ||||||||||||||||||||||||||||||||||||||||||||
In millions, except percentages | 2020 | 2019 | 2020 | 2019 | $ | % | $ | % | |||||||||||||||||||||||||||||||||||||||
Revenues: | |||||||||||||||||||||||||||||||||||||||||||||||
Products | $ | 35,461 | $ | 35,883 | $ | 104,802 | $ | 104,056 | $ | (422) | (1.2) | % | $ | 746 | 0.7 | % | |||||||||||||||||||||||||||||||
Services | 250 | 135 | 781 | 362 | 115 | 85.2 | % | 419 | 115.7 | % | |||||||||||||||||||||||||||||||||||||
Total revenues | 35,711 | 36,018 | 105,583 | 104,418 | (307) | (0.9) | % | 1,165 | 1.1 | % | |||||||||||||||||||||||||||||||||||||
Cost of products sold | 33,809 | 34,300 | 100,583 | 99,918 | (491) | (1.4) | % | 665 | 0.7 | % | |||||||||||||||||||||||||||||||||||||
Operating expenses | 338 | 378 | 1,051 | $ | 1,113 | (40) | (10.6) | % | (62) | (5.6) | % | ||||||||||||||||||||||||||||||||||||
Operating expenses as a % of total revenues | 0.9 | % | 1.0 | % | 1.0 | % | 1.1 | % | |||||||||||||||||||||||||||||||||||||||
Operating income | $ | 1,564 | $ | 1,340 | $ | 3,949 | $ | 3,387 | $ | 224 | 16.7 | % | $ | 562 | 16.6 | % | |||||||||||||||||||||||||||||||
Operating income as a % of total revenues | 4.4 | % | 3.7 | % | 3.7 | % | 3.2 | % | |||||||||||||||||||||||||||||||||||||||
Adjusted operating income (1) | $ | 1,619 | $ | 1,439 | $ | 4,127 | $ | 3,682 | $ | 180 | 12.5 | % | $ | 445 | 12.1 | % | |||||||||||||||||||||||||||||||
Adjusted operating income as a % of total revenues | 4.5 | % | 4.0 | % | 3.9 | % | 3.5 | % | |||||||||||||||||||||||||||||||||||||||
Revenues (by distribution channel): | |||||||||||||||||||||||||||||||||||||||||||||||
Pharmacy
network (2) (3) | $ | 21,473 | $ | 22,411 | $ | 63,109 | $ | 65,917 | $ | (938) | (4.2) | % | $ | (2,808) | (4.3) | % | |||||||||||||||||||||||||||||||
Mail
choice (3) (4) | 14,032 | 13,461 | 41,815 | 38,066 | 571 | 4.2 | % | 3,749 | 9.8 | % | |||||||||||||||||||||||||||||||||||||
Other
| 206 | 146 | 659 | 435 | 60 | 41.1 | % | 224 | 51.5 | % | |||||||||||||||||||||||||||||||||||||
Pharmacy claims processed:
(5) | |||||||||||||||||||||||||||||||||||||||||||||||
Total | 528.2 | 509.5 | 1,575.0 | 1,480.3 | 18.7 | 3.7 | % | 94.7 | 6.4 | % | |||||||||||||||||||||||||||||||||||||
Pharmacy
network (2) | 447.7 | 430.2 | 1,333.9 | 1,250.0 | 17.5 | 4.1 | % | 83.9 | 6.7 | % | |||||||||||||||||||||||||||||||||||||
Mail
choice (4) | 80.5 | 79.3 | 241.1 | 230.3 | 1.2 | 1.5 | % | 10.8 | 4.7 | % | |||||||||||||||||||||||||||||||||||||
Generic
dispensing rate: (5) | |||||||||||||||||||||||||||||||||||||||||||||||
Total | 87.9 | % | 88.1 | % | 88.5 | % | 88.3 | % | |||||||||||||||||||||||||||||||||||||||
Pharmacy
network (2) | 88.3 | % | 88.7 | % | 89.0 | % | 88.9 | % | |||||||||||||||||||||||||||||||||||||||
Mail choice (4) | 85.7 | % | 85.3 | % | 85.7 | % | 85.1 | % |
Change | |||||||||||||||||||||||||||||||||||||||||||||||
Three
Months Ended September 30, | Nine Months Ended September 30, | Three Months Ended September 30, 2020 vs 2019 | Nine Months Ended September 30, 2020 vs 2019 | ||||||||||||||||||||||||||||||||||||||||||||
In millions, except percentages | 2020 | 2019 | 2020 | 2019 | $ | % | $ | % | |||||||||||||||||||||||||||||||||||||||
Revenues: | |||||||||||||||||||||||||||||||||||||||||||||||
Products | $ | 22,424 | $ | 21,273 | $ | 66,422 | $ | 63,403 | $ | 1,151 | 5.4 | % | $ | 3,019 | 4.8 | % | |||||||||||||||||||||||||||||||
Services | 301 | 193 | 714 | 625 | 108 | 56.0 | % | 89 | 14.2 | % | |||||||||||||||||||||||||||||||||||||
Total revenues | 22,725 | 21,466 | 67,136 | 64,028 | 1,259 | 5.9 | % | 3,108 | 4.9 | % | |||||||||||||||||||||||||||||||||||||
Cost of products sold | 16,899 | 15,656 | 49,697 | 46,504 | 1,243 | 7.9 | % | 3,193 | 6.9 | % | |||||||||||||||||||||||||||||||||||||
Operating expenses | 4,543 | 4,715 | 13,443 | 13,640 | (172) | (3.6) | % | (197) | (1.4) | % | |||||||||||||||||||||||||||||||||||||
Operating expenses as a % of total revenues | 20.0 | % | 22.0 | % | 20.0 | % | 21.3 | % | |||||||||||||||||||||||||||||||||||||||
Operating income | $ | 1,283 | $ | 1,095 | $ | 3,996 | $ | 3,884 | $ | 188 | 17.2 | % | $ | 112 | 2.9 | % | |||||||||||||||||||||||||||||||
Operating income as a % of total revenues | 5.6 | % | 5.1 | % | 6.0 | % | 6.1 | % | |||||||||||||||||||||||||||||||||||||||
Adjusted operating income (1) | $ | 1,412 | $ | 1,516 | $ | 4,371 | $ | 4,674 | $ | (104) | (6.9) | % | $ | (303) | (6.5) | % | |||||||||||||||||||||||||||||||
Adjusted operating income as a % of total revenues | 6.2 | % | 7.1 | % | 6.5 | % | 7.3 | % | |||||||||||||||||||||||||||||||||||||||
Revenues (by major goods/service lines): | |||||||||||||||||||||||||||||||||||||||||||||||
Pharmacy | $ | 17,608 | $ | 16,687 | $ | 51,833 | $ | 49,197 | $ | 921 | 5.5 | % | $ | 2,636 | 5.4 | % | |||||||||||||||||||||||||||||||
Front Store | 4,740 | 4,614 | 14,601 | 14,288 | 126 | 2.7 | % | 313 | 2.2 | % | |||||||||||||||||||||||||||||||||||||
Other | 377 | 165 | 702 | 543 | 212 | 128.5 | % | 159 | 29.3 | % | |||||||||||||||||||||||||||||||||||||
Prescriptions
filled (2) | 368.4 | 352.3 | 1,088.9 | 1,048.2 | 16.1 | 4.6 | % | 40.7 | 3.9 | % | |||||||||||||||||||||||||||||||||||||
Same
store sales increase: (3) | |||||||||||||||||||||||||||||||||||||||||||||||
Total | 5.7 | % | 3.6 | % | 5.7 | % | 3.9 | % | |||||||||||||||||||||||||||||||||||||||
Pharmacy | 6.7 | % | 4.5 | % | 6.8 | % | 4.7 | % | |||||||||||||||||||||||||||||||||||||||
Front Store | 2.2 | % | 0.6 | % | 1.9 | % | 1.3 | % | |||||||||||||||||||||||||||||||||||||||
Prescription volume (2) | 5.8 | % | 7.8 | % | 5.4 | % | 7.3 | % | |||||||||||||||||||||||||||||||||||||||
Generic
dispensing rate (2) | 87.7 | % | 88.2 | % | 88.7 | % | 88.7 | % |
Change | |||||||||||||||||||||||||||||||||||||||||||||||
Three
Months Ended September 30, | Nine Months Ended September 30, | Three Months Ended September 30, 2020 vs 2019 | Nine Months Ended September 30, 2020 vs 2019 | ||||||||||||||||||||||||||||||||||||||||||||
In millions, except percentages and basis points (“bps”) | 2020 | 2019 | 2020 | 2019 | $ | % | $ | % | |||||||||||||||||||||||||||||||||||||||
Revenues: | |||||||||||||||||||||||||||||||||||||||||||||||
Premiums | $ | 17,165 | $ | 15,507 | $ | 51,699 | $ | 47,543 | $ | 1,658 | 10.7 | % | $ | 4,156 | 8.7 | % | |||||||||||||||||||||||||||||||
Services | 1,412 | 1,528 | 4,324 | 4,453 | (116) | (7.6) | % | (129) | (2.9) | % | |||||||||||||||||||||||||||||||||||||
Net investment income | 121 | 146 | 341 | 458 | (25) | (17.1) | % | (117) | (25.5) | % | |||||||||||||||||||||||||||||||||||||
Total revenues | 18,698 | 17,181 | 56,364 | 52,454 | 1,517 | 8.8 | % | 3,910 | 7.5 | % | |||||||||||||||||||||||||||||||||||||
Benefit costs | 14,416 | 12,914 | 40,816 | 39,815 | 1,502 | 11.6 | % | 1,001 | 2.5 | % | |||||||||||||||||||||||||||||||||||||
MBR | 84.0 | % | 83.3 | % | 78.9 | % | 83.7 | % | 70 | bps | (480) | bps | |||||||||||||||||||||||||||||||||||
Operating expenses | $ | 3,333 | $ | 3,231 | $ | 10,438 | $ | 9,386 | $ | 102 | 3.2 | % | $ | 1,052 | 11.2 | % | |||||||||||||||||||||||||||||||
Operating expenses as a % of total revenues | 17.8 | % | 18.8 | % | 18.5 | % | 17.9 | % | |||||||||||||||||||||||||||||||||||||||
Operating income | $ | 949 | $ | 1,036 | $ | 5,110 | $ | 3,253 | $ | (87) | (8.4) | % | $ | 1,857 | 57.1 | % | |||||||||||||||||||||||||||||||
Operating income as a % of total revenues | 5.1 | % | 6.0 | % | 9.1 | % | 6.2 | % | |||||||||||||||||||||||||||||||||||||||
Adjusted operating income (1) | $ | 1,080 | $ | 1,423 | $ | 6,035 | $ | 4,423 | $ | (343) | (24.1) | % | $ | 1,612 | 36.4 | % | |||||||||||||||||||||||||||||||
Adjusted operating income as a % of total revenues | 5.8 | % | 8.3 | % | 10.7 | % | 8.4 | % | |||||||||||||||||||||||||||||||||||||||
Premium revenues (by business): | |||||||||||||||||||||||||||||||||||||||||||||||
Government | $ | 12,181 | $ | 10,247 | $ | 36,626 | $ | 31,598 | $ | 1,934 | 18.9 | % | $ | 5,028 | 15.9 | % | |||||||||||||||||||||||||||||||
Commercial | $ | 4,984 | $ | 5,260 | $ | 15,073 | $ | 15,945 | (276) | (5.2) | % | (872) | (5.5) | % |
September 30, 2020 | June 30, 2020 | December 31, 2019 | September 30, 2019 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In thousands | Insured | ASC | Total | Insured | ASC | Total | Insured | ASC | Total | Insured | ASC | Total | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Medical membership: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | 3,268 | 13,671 | 16,939 | 3,298 | 14,179 | 17,477 | 3,591 | 14,159 | 17,750 | 3,560 | 14,159 | 17,719 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Medicare Advantage | 2,689 | — | 2,689 | 2,651 | — | 2,651 | 2,321 | — | 2,321 | 2,304 | — | 2,304 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Medicare Supplement | 1,009 | — | 1,009 | 954 | — | 954 | 881 | — | 881 | 842 | — | 842 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Medicaid | 2,028 | 605 | 2,633 | 1,918 | 586 | 2,504 | 1,398 | 558 | 1,956 | 1,382 | 562 | 1,944 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total medical membership | 8,994 | 14,276 | 23,270 | 8,821 | 14,765 | 23,586 | 8,191 | 14,717 | 22,908 | 8,088 | 14,721 | 22,809 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Supplemental membership information: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Medicare Prescription Drug Plan (standalone) (1) | 5,540 | 5,575 | 5,994 | 5,998 |
Change | |||||||||||||||||||||||||||||||||||||||||||||||
Three
Months Ended September 30, | Nine Months Ended September 30, | Three Months Ended September 30, 2020 vs 2019 | Nine Months Ended September 30, 2020 vs 2019 | ||||||||||||||||||||||||||||||||||||||||||||
In millions, except percentages | 2020 | 2019 | 2020 | 2019 | $ | % | $ | % | |||||||||||||||||||||||||||||||||||||||
Revenues: | |||||||||||||||||||||||||||||||||||||||||||||||
Premiums | $ | 17 | $ | 32 | $ | 50 | $ | 69 | $ | (15) | (46.9) | % | $ | (19) | (27.5) | % | |||||||||||||||||||||||||||||||
Services | 16 | 3 | 33 | 7 | 13 | 433.3 | % | 26 | 371.4 | % | |||||||||||||||||||||||||||||||||||||
Net investment income | 83 | 117 | 209 | 347 | (34) | (29.1) | % | (138) | (39.8) | % | |||||||||||||||||||||||||||||||||||||
Total revenues | 116 | 152 | 292 | 423 | (36) | (23.7) | % | (131) | (31.0) | % | |||||||||||||||||||||||||||||||||||||
Benefit costs | 54 | 77 | 173 | 213 | (23) | (29.9) | % | (40) | (18.8) | % | |||||||||||||||||||||||||||||||||||||
Operating expenses | 423 | 439 | 1,248 | 1,263 | (16) | (3.6) | % | (15) | (1.2) | % | |||||||||||||||||||||||||||||||||||||
Operating loss | (361) | (364) | (1,129) | (1,053) | 3 | 0.8 | % | (76) | (7.2) | % | |||||||||||||||||||||||||||||||||||||
Adjusted operating
loss (1) | (303) | (252) | (931) | (685) | (51) | (20.2) | % | (246) | (35.9) | % |
Nine Months Ended September 30, | Change | ||||||||||||||||||||||
In millions, except percentages | 2020 | 2019 | $ | % | |||||||||||||||||||
Net cash provided by operating activities | $ | 12,298 | $ | 10,214 | $ | 2,084 | 20.4 | % | |||||||||||||||
Net cash used in investing activities | (4,300) | (2,630) | (1,670) | 63.5 | % | ||||||||||||||||||
Net cash used in financing activities | (4,420) | (6,410) | 1,990 | (31.0) | % | ||||||||||||||||||
Net increase in cash, cash equivalents and restricted cash | $ | 3,578 | $ | 1,174 | $ | 2,404 | 204.8 | % |
· | Anticipates | · | Believes | · | Can | · | Continue | · | Could | ||||||||||||||||||||
· | Estimates | · | Evaluate | · | Expects | · | Explore | · | Forecast | ||||||||||||||||||||
· | Guidance | · | Intends | · | Likely | · | May | · | Might | ||||||||||||||||||||
· | Outlook | · | Plans | · | Potential | · | Predict | · | Probable | ||||||||||||||||||||
· | Projects | · | Seeks | · | Should | · | View | · | Will |
In millions | September 30, 2020 | December 31, 2019 | |||||||||
Experience-rated products | $ | 1,046 | $ | 1,100 | |||||||
Remaining products | 22,001 | 18,587 | |||||||||
Total investments | $ | 23,047 | $ | 19,687 |
Fiscal Period | Total Number of Shares Purchased | Average Price Paid per Share | Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs | Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs | |||||||||||||||||||
July 1, 2020 through July 31, 2020 | — | $ | — | — | $ | 13,869,392,446 | |||||||||||||||||
August 1, 2020 through August 31, 2020 | — | $ | — | — | $ | 13,869,392,446 | |||||||||||||||||
September 1, 2020 through September 30, 2020 | — | $ | — | — | $ | 13,869,392,446 | |||||||||||||||||
— | — |
4 | Instruments defining the rights of security holders, including indentures | ||||
4.1 | |||||
4.2 | |||||
4.3 | |||||
10 | Material Contracts | ||||
10.1 | |||||
15 | Letter re: unaudited interim financial information | ||||
15.1 | |||||
31 | Rule 13a-14(a)/15d-14(a) Certifications | ||||
31.1 | |||||
31.2 | |||||
32 | Section 1350 Certifications | ||||
32.1 | |||||
32.2 | |||||
101 | |||||
101 | The following materials from the CVS Health Corporation Quarterly Report on Form 10-Q for the three and nine months ended September 30, 2020 formatted in Inline XBRL: (i) the Condensed Consolidated Statements of Operations, (ii) the Condensed Consolidated Statements of Comprehensive Income, (iii) the Condensed Consolidated Balance Sheets, (iv) the Condensed Consolidated Statements of Cash Flows, (v) the Condensed Consolidated Statements of Shareholders’ Equity and (vi) the related Notes to Condensed Consolidated Financial Statements. The instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document. | ||||
104 | |||||
104 | Cover Page Interactive Data File - The cover page from the Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2020, formatted in Inline XBRL (included as Exhibit 101). |
CVS HEALTH CORPORATION | ||||||||
Date: | November 6, 2020 | By: | /s/ Eva C. Boratto | ||||||||
Eva C. Boratto | |||||||||||
Executive Vice President and Chief Financial Officer | |||||||||||
This ‘10-Q’ Filing | Date | Other Filings | ||
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8/21/30 | ||||
4/1/30 | ||||
8/21/27 | ||||
4/1/27 | ||||
5/16/24 | ||||
5/17/23 | ||||
12/31/22 | ||||
12/15/22 | ||||
5/18/22 | ||||
12/31/21 | 10-K | |||
5/12/21 | 4 | |||
12/15/20 | ||||
Filed on: | 11/6/20 | 8-K | ||
10/28/20 | ||||
10/22/20 | ||||
For Period end: | 9/30/20 | |||
9/1/20 | ||||
8/31/20 | ||||
8/21/20 | 8-K | |||
8/1/20 | ||||
7/31/20 | ||||
7/1/20 | ||||
6/30/20 | 10-Q | |||
4/6/20 | ||||
3/31/20 | 10-Q, 8-K | |||
3/27/20 | ||||
2/18/20 | 10-K, 4 | |||
1/1/20 | ||||
12/31/19 | 10-K, 11-K, 5 | |||
9/30/19 | 10-Q, 4 | |||
9/1/19 | ||||
7/1/19 | ||||
6/30/19 | 10-Q | |||
3/31/19 | 10-Q | |||
2/20/19 | 4, 8-K | |||
12/31/18 | 10-K, 11-K | |||
12/3/17 | 8-K | |||
11/2/16 | 4 | |||
2/9/16 | 10-K, 8-K | |||
1/1/14 | ||||
List all Filings |
As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 2/07/24 CVS Health Corp. 10-K 12/31/23 166:28M 2/08/23 CVS Health Corp. 10-K 12/31/22 138:26M 2/09/22 CVS Health Corp. 10-K 12/31/21 137:25M 2/16/21 CVS Health Corp. 10-K 12/31/20 137:25M 12/09/20 CVS Health Corp. 424B2 1:469K Donnelley … Solutions/FA 12/07/20 CVS Health Corp. 424B3 1:424K Donnelley … Solutions/FA |
As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 8/21/20 CVS Health Corp. 8-K:8,9 8/21/20 14:446K Donnelley … Solutions/FA |