CVS Health Corporation (CVS) Financial Statements (2023 and earlier)
Company Profile
| Business Address |
ONE CVS DR. WOONSOCKET, RI 02895 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (SIC) | 5912 - Drug Stores and Proprietary Stores (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in millions)
| 6/30/2023 MRQ | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 15,723 | 12,525 | 10,854 | 8,056 | 6,581 | 1,807 | |||
| Cash and cash equivalents | 12,945 | 9,408 | 7,854 | 5,683 | 4,059 | 1,696 | |||
| Short-term investments | 2,778 | 3,117 | 3,000 | 2,373 | 2,522 | 111 | |||
| Receivables | 27,276 | 24,431 | 21,742 | 19,617 | 17,631 | 13,181 | |||
| Inventory, net of allowances, customer advances and progress billings | 19,090 | 17,760 | 18,496 | 17,516 | 16,450 | 15,296 | |||
| Inventory | 19,090 | 17,760 | 18,496 | 17,516 | 16,450 | 15,296 | |||
| Disposal group, including discontinued operation | 908 | ||||||||
| Other current assets | 2,685 | 5,292 | 5,277 | 5,113 | 4,581 | 945 | |||
| Total current assets: | 65,682 | 60,008 | 56,369 | 50,302 | 45,243 | 31,229 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 17,872 | 19,122 | 20,729 | 20,860 | ✕ | ✕ | |||
| Property, plant and equipment | 12,873 | 12,896 | 12,606 | 12,044 | 11,349 | 10,292 | |||
| Long-term investments and receivables | 21,096 | 23,025 | 20,812 | 17,314 | 15,732 | ||||
| Long-term investments | 21,096 | 23,025 | 20,812 | 17,314 | 15,732 | ||||
| Intangible assets, net (including goodwill) | 102,904 | 108,147 | 110,694 | 112,870 | 115,202 | 52,081 | |||
| Goodwill | 78,150 | 79,121 | 79,552 | 79,749 | 78,678 | 38,451 | |||
| Intangible assets, net (excluding goodwill) | 24,754 | 29,026 | 31,142 | 33,121 | 36,524 | 13,630 | |||
| Restricted cash and investments | 216 | 218 | 276 | 271 | |||||
| Other noncurrent assets | 4,620 | 4,714 | 4,624 | 4,600 | 5,046 | 1,529 | |||
| Other undisclosed noncurrent assets | 3,012 | 4,869 | 4,605 | 4,188 | 3,884 | ||||
| Total noncurrent assets: | 162,593 | 172,991 | 174,346 | 172,147 | 151,213 | 63,902 | |||
| TOTAL ASSETS: | 228,275 | 232,999 | 230,715 | 222,449 | 196,456 | 95,131 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 33,583 | 30,214 | 25,381 | 22,625 | 19,636 | 15,472 | |||
| Accounts payable | 14,838 | 12,544 | 11,138 | 10,492 | 8,925 | 8,863 | |||
| Accrued liabilities | 18,745 | 17,670 | 14,243 | 12,133 | 10,711 | 6,609 | |||
| Deferred revenue | 71 | 87 | 71 | 73 | ✕ | ✕ | |||
| Debt | 1,778 | 4,205 | 5,440 | 5,404 | 1,985 | 4,821 | |||
| Disposal group, including discontinued operation | 228 | ||||||||
| Other undisclosed current liabilities | 34,076 | 33,301 | 31,125 | 25,201 | 22,388 | 10,355 | |||
| Total current liabilities: | 69,736 | 67,807 | 62,017 | 53,303 | 44,009 | 30,648 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation, including: | 50,476 | 51,971 | 59,207 | 64,699 | 71,444 | 22,181 | |||
| Long-term debt, excluding current maturities | 71,444 | 22,181 | |||||||
| Finance lease, liability | 1,406 | 1,250 | 1,050 | 781 | ✕ | ✕ | |||
| Other undisclosed long-term debt and lease obligation | 49,070 | 32,544 | 39,400 | 44,992 | |||||
| Liabilities, other than long-term debt | 27,412 | 8,174 | 9,145 | 9,456 | 2,780 | 4,607 | |||
| Deferred tax liabilities, net | ✕ | ✕ | ✕ | ✕ | ✕ | 2,996 | |||
| Deferred income tax liabilities | 3,880 | 6,270 | 6,794 | 7,294 | ✕ | ✕ | |||
| Other liabilities | 6,732 | 1,904 | 2,351 | 2,162 | 2,780 | 1,611 | |||
| Operating lease, liability | 16,800 | 18,177 | 18,757 | 18,926 | ✕ | ✕ | |||
| Other undisclosed noncurrent liabilities | 9,336 | 29,666 | 30,645 | 30,821 | 19,680 | ||||
| Total noncurrent liabilities: | 87,224 | 89,811 | 98,997 | 104,976 | 93,904 | 26,788 | |||
| Total liabilities: | 156,960 | 157,618 | 161,014 | 158,279 | 137,913 | 57,436 | |||
| Equity | |||||||||
| Equity, attributable to parent, including: | 71,015 | 75,075 | 69,389 | 63,864 | 58,225 | 37,691 | |||
| Common stock | 18 | 17 | 17 | 17 | 17 | 17 | |||
| Treasury stock, value | (31,858) | (28,173) | (28,178) | (28,235) | (28,228) | (37,765) | |||
| Additional paid in capital | 32,079 | ||||||||
| Accumulated other comprehensive income (loss) | (1,465) | 965 | 1,414 | 1,019 | 102 | (165) | |||
| Retained earnings | 56,145 | 54,906 | 49,640 | 45,108 | 40,911 | 43,556 | |||
| Other undisclosed equity, attributable to parent | 48,175 | 47,360 | 46,496 | 45,955 | 45,423 | (31) | |||
| Equity, attributable to noncontrolling interest | 300 | 306 | 312 | 306 | 318 | 4 | |||
| Total equity: | 71,315 | 75,381 | 69,701 | 64,170 | 58,543 | 37,695 | |||
| TOTAL LIABILITIES AND EQUITY: | 228,275 | 232,999 | 230,715 | 222,449 | 196,456 | 95,131 | |||
Income Statement (P&L) ($ in millions)
| 6/30/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 322,467 | 292,111 | 268,706 | 256,776 | 194,579 | 184,765 | ||
| Premiums earned, net | 85,330 | 76,132 | 69,364 | 63,122 | ✕ | |||
| Cost of revenue | (303,781) | (275,027) | (251,477) | (211,248) | (163,041) | (156,220) | ||
| Cost of goods and services sold | (196,892) | (175,803) | (163,981) | (158,719) | (156,447) | |||
| Policyholder benefits and claims incurred, net | (71,281) | (64,260) | (55,679) | (52,529) | ✕ | |||
| Gross profit: | 18,686 | 17,084 | 17,229 | 45,528 | 31,538 | 28,545 | ||
| Operating expenses | (10,940) | (3,891) | (3,318) | (33,541) | (27,517) | (19,028) | ||
| Operating income: | 7,746 | 13,193 | 13,911 | 11,987 | 4,021 | 9,517 | ||
| Nonoperating income (expense) | 169 | 182 | 206 | 124 | 4 | (187) | ||
| Other nonoperating income (expense) | 169 | 182 | 206 | 124 | 4 | (208) | ||
| Interest and debt expense | (2,287) | (2,955) | (3,581) | (3,114) | (2,619) | (1,062) | ||
| Other undisclosed loss from continuing operations before equity method investments, income taxes | (766) | |||||||
| Income from continuing operations before income taxes: | 5,628 | 10,420 | 9,770 | 8,997 | 1,406 | 8,268 | ||
| Income tax expense | (1,463) | (2,522) | (2,569) | (2,366) | (2,002) | (1,637) | ||
| Income (loss) from continuing operations: | 4,165 | 7,898 | 7,201 | 6,631 | (596) | 6,631 | ||
| Income (loss) before gain (loss) on sale of properties: | ✕ | 7,898 | 7,192 | 6,631 | (596) | 6,623 | ||
| Loss from discontinued operations | (9) | (8) | ||||||
| Net income (loss): | 4,165 | 7,898 | 7,192 | 6,631 | (596) | 6,623 | ||
| Net income (loss) attributable to noncontrolling interest | (16) | 12 | (13) | 3 | 2 | (1) | ||
| Net income (loss) available to common stockholders, diluted: | 4,149 | 7,910 | 7,179 | 6,634 | (594) | 6,622 | ||
Comprehensive Income ($ in millions)
| 6/30/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | 4,165 | 7,898 | 7,192 | 6,631 | (596) | 6,623 | ||
| Other comprehensive income (loss) | (2,430) | (449) | 395 | 917 | 274 | 140 | ||
| Comprehensive income (loss): | 1,735 | 7,449 | 7,587 | 7,548 | (322) | 6,763 | ||
| Comprehensive income (loss), net of tax, attributable to noncontrolling interest | (16) | 12 | (13) | 3 | 2 | (1) | ||
| Comprehensive income (loss), net of tax, attributable to parent: | 1,719 | 7,461 | 7,574 | 7,551 | (320) | 6,762 | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.