CVS Health Files 2024 10-K

Ticker: CVS · Form: 10-K · Filed: Feb 12, 2025 · CIK: 64803

Sentiment: neutral

Topics: 10-K, annual-report, healthcare

TL;DR

CVS Health filed its 2024 10-K, detailing financials and operations for the year ending Dec 31, 2024.

AI Summary

CVS Health Corp. filed its 2024 10-K on February 12, 2025, reporting on its fiscal year ending December 31, 2024. The company, previously known as CVS Caremark Corp., is incorporated in Delaware and headquartered in Woonsocket, RI. This filing provides a comprehensive overview of the company's financial performance and business operations for the past fiscal year.

Why It Matters

This 10-K filing is crucial for investors and analysts to understand CVS Health's financial health, strategic direction, and potential risks for the upcoming year.

Risk Assessment

Risk Level: medium — 10-K filings inherently carry medium risk due to the detailed financial and operational information that can impact stock price.

Key Numbers

Key Players & Entities

FAQ

What is the primary business of CVS Health Corp. as indicated by its SIC code?

The Standard Industrial Classification (SIC) code for CVS Health Corp. is [5912], which corresponds to RETAIL-DRUG STORES AND PROPRIETARY STORES.

When did CVS Health Corp. change its name from CVS Caremark Corp.?

CVS Health Corp. changed its name from CVS CAREMARK CORP on 20070509.

What is the SEC file number for CVS Health Corp.'s 10-K filing?

The SEC file number for CVS Health Corp. is 001-01011.

Where is CVS Health Corp. incorporated?

CVS Health Corp. is incorporated in Delaware (DE).

What is the physical address of CVS Health Corp.'s business operations?

The business address for CVS Health Corp. is ONE CVS DR., WOONSOCKET, RI 02895.

Filing Stats: 4,333 words · 17 min read · ~14 pages · Grade level 17.5 · Accepted 2025-02-12 06:47:38

Key Financial Figures

Filing Documents

: Risk Factors

Item 1A: Risk Factors 35

: Unresolved Staff Comments

Item 1B: Unresolved Staff Comments 63

: Cybersecurity

Item 1C: Cybersecurity 63

: Properties

Item 2: Properties 64

: Legal Proceedings

Item 3: Legal Proceedings 65

: Mine Safety Disclosures

Item 4: Mine Safety Disclosures 65 Information about our Executive Officers 66 Part II

: Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5: Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 67

: Reserved

Item 6: Reserved 69

: Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7: Management's Discussion and Analysis of Financial Condition and Results of Operations 70

: Quantitative and Qualitative Disclosures About Market Risk

Item 7A: Quantitative and Qualitative Disclosures About Market Risk 100

: Financial Statements and Supplementary Data

Item 8: Financial Statements and Supplementary Data 103

: Changes in and Disagreements With Accountants on Accounting and Financial Disclosure

Item 9: Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 192

: Controls and Procedures

Item 9A: Controls and Procedures 192

: Other Information

Item 9B: Other Information 192

: Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C: Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 193 Part III

: Directors, Executive Officers and Corporate Governance

Item 10: Directors, Executive Officers and Corporate Governance 193

: Executive Compensation

Item 11: Executive Compensation 193

: Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12: Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 193

: Certain Relationships and Related Transactions, and Director Independence

Item 13: Certain Relationships and Related Transactions, and Director Independence 194

: Principal Accountant Fees and Services

Item 14: Principal Accountant Fees and Services 194 Part IV

: Exhibits and Financial Statement Schedules

Item 15: Exhibits and Financial Statement Schedules 195

: Form 10-K Summary

Item 16: Form 10-K Summary 200

Signatures

Signatures 201 Unless the context otherwise requires, references to the terms "we," "our" or "us" used throughout this Annual Report on Form 10-K (this "10-K") refer to CVS Health Corporation (a Delaware corporation), together with its subsidiaries (collectively, "CVS Health" or the "Company"). References to competitors and other companies throughout this 10-K, including the information incorporated herein by reference, are for illustrative or comparison purposes only and are not identifying that these companies are the only competitors or closest competitors of the Company or any of the Company's businesses, products, or services. CAUTIONARY STATEMENT CONCERNING FORWARD-LOOKING STATEMENTS The Private Securities Litigation Reform Act of 1995 (the "Reform Act") provides a "safe harbor" for forward-looking statements, so long as (1) those statements are identified as forward-looking, and (2) the statements are accompanied by meaningful cautionary statements that identify important factors that could cause actual results to differ materially from those discussed in the statement. We want to take advantage of these safe harbor provisions. Certain information contained in this 10-K is forward-looking within the meaning of the Reform Act or Securities and Exchange Commission ("SEC") rules. This information includes, but is not limited to: "Outlook for 2025" of Management's Discussion and Analysis of Financial Condition and Results of Operations ("MD&A") included in Item 7, "Quantitative and Qualitative Disclosures About Market Risk" included in Item 7A, "Government Regulation" included in Item 1, and "Risk Factors" included in Item 1A. In addition, throughout this 10-K and our other reports and communications, we use the following words or variations or negatives of these words and similar expressions when we intend to identify forward-looking statements: Anticipates Believes Can Continue Could Estimates Evaluate Expects Explore Forecast Guidance Intends Likel

Business

Item 1. Business. Overview CVS Health Corporation, together with its subsidiaries (collectively, "CVS Health," the "Company," "we," "our" or "us"), is a leading health solutions company building a world of health around every consumer it serves and connecting care so that it works for people wherever they are. As of December 31, 2024, we had more than 9,000 retail locations, more than 1,000 walk-in and primary care medical clinics, a leading pharmacy benefits manager with approximately 90 million plan members and expanding specialty pharmacy solutions, and a dedicated senior pharmacy care business serving more than 800,000 patients per year. We serve an estimated more than 36 million people through traditional, voluntary and consumer-directed health insurance products and related services, including expanding Medicare Advantage offerings and a leading standalone Medicare Part D prescription drug plan ("PDP"). We are creating new sources of value through our integrated model allowing us to expand into personalized, technology driven care delivery and health services, increasing access to quality care, delivering better health outcomes and lowering overall health care costs. The Company has four reportable segments: Health Care Benefits, Health Services, Pharmacy & Consumer Wellness and Corporate/Other. Business Strategy We are building a world of health around every consumer we serve, seeking to make it easier and more affordable to live a healthier life. This means delivering solutions that are more personalized, simpler to use and increasingly digital so consumers can receive care when, where and how they desire. We address holistic health – physical, emotional, social and economic – and we are creating new sources of value through our integrated care model which allows us to expand into personalized, technology driven care delivery and health services, increasing access to quality care, delivering better health outcomes and lowering overall health care c

View Full Filing

View this 10-K filing on SEC EDGAR

View on Read The Filing