CVS Health Files Q2 2024 10-Q
Ticker: CVS · Form: 10-Q · Filed: Aug 7, 2024 · CIK: 64803
Sentiment: neutral
Topics: 10-Q, quarterly-report, healthcare, retail
TL;DR
CVS Health's Q2 2024 10-Q is in. Check financials.
AI Summary
CVS Health Corp. filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational updates for the second quarter of 2024. Key financial figures and business segment information are presented, reflecting the company's ongoing activities in retail pharmacy and healthcare services.
Why It Matters
This filing provides investors and analysts with the latest financial performance data for CVS Health, crucial for understanding the company's current health and future prospects.
Risk Assessment
Risk Level: low — This is a routine quarterly filing providing standard financial disclosures.
Key Numbers
- 20240630 — Period End Date (Indicates the end of the reporting quarter.)
- 20240807 — Filing Date (The date the report was officially submitted to the SEC.)
Key Players & Entities
- CVS HEALTH Corp (company) — Filer
- 20240630 (date) — Period of Report
- 20240807 (date) — Filing Date
- 0000064803 (company) — Central Index Key
FAQ
What is the reporting period for this 10-Q filing?
The Conformed Period of Report is 20240630, meaning the filing covers the period ending June 30, 2024.
When was this 10-Q filed with the SEC?
The filing date (FILED AS OF DATE) is 20240807.
What is the Central Index Key (CIK) for CVS HEALTH Corp?
The Central Index Key for CVS HEALTH Corp is 0000064803.
What is the Standard Industrial Classification (SIC) code for CVS HEALTH Corp?
The SIC code is RETAIL-DRUG STORES AND PROPRIETARY STORES [5912].
What is the fiscal year end for CVS HEALTH Corp?
The fiscal year end for CVS HEALTH Corp is 1231.
Filing Stats: 4,657 words · 19 min read · ~16 pages · Grade level 20 · Accepted 2024-08-07 06:35:29
Key Financial Figures
- $0.01 — ich registered Common Stock, par value $0.01 per share CVS New York Stock Exchange
Filing Documents
- cvs-20240630.htm (10-Q) — 2952KB
- a06302024ex101.htm (EX-10.1) — 129KB
- a06302024ex102.htm (EX-10.2) — 130KB
- a06302024ex103.htm (EX-10.3) — 128KB
- a06302024ex151.htm (EX-15.1) — 3KB
- a06302024ex311.htm (EX-31.1) — 9KB
- a06302024ex312.htm (EX-31.2) — 9KB
- a06302024ex321.htm (EX-32.1) — 5KB
- a06302024ex322.htm (EX-32.2) — 5KB
- cvs-20240630_g1.jpg (GRAPHIC) — 4KB
- 0000064803-24-000029.txt ( ) — 14842KB
- cvs-20240630.xsd (EX-101.SCH) — 75KB
- cvs-20240630_cal.xml (EX-101.CAL) — 133KB
- cvs-20240630_def.xml (EX-101.DEF) — 381KB
- cvs-20240630_lab.xml (EX-101.LAB) — 880KB
- cvs-20240630_pre.xml (EX-101.PRE) — 624KB
- cvs-20240630_htm.xml (XML) — 3143KB
Financial Information
Part I Financial Information
Financial Statements
Item 1. Financial Statements 1
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 44
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 65
Controls and Procedures
Item 4. Controls and Procedures 65
Other Information
Part II Other Information
Legal Proceedings
Item 1. Legal Proceedings 66
Risk Factors
Item 1A. Risk Factors 66
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 66
Defaults Upon Senior Securities
Item 3 Defaults Upon Senior Securities 66
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 66
Other Information
Item 5. Other Information 66
Exhibits
Item 6. Exhibits 67
Signatures
Signatures 69 Form 10-Q Table of Contents
Financial Information
Part I. Financial Information
Financial Statements
Item 1. Financial Statements Index to Condensed Consolidated Financial Statements Page Condensed Consolidated Statements of Operations (Unaudited) for the three and six months ended June 30, 2024 and 2023 2 Condensed Consolidated Statements of Comprehensive Income (Unaudited) for the three and six months ended June 30, 2024 and 2023 3 Condensed Consolidated Balance Sheets (Unaudited) as of June 30, 2024 and December 31, 2023 4 Condensed Consolidated Statements of Cash Flows (Unaudited) for the six months ended June 30, 2024 and 2023 5 Condensed Consolidated Statements of Shareholders' Equity (Unaudited) for the three months ended June 30, 2024 and 2023 and the three months ended March 31, 2024 and 2023 7 Notes to Condensed Consolidated Financial Statements (Unaudited) 9 Report of Independent Registered Public Accounting Firm 43 1 Index to Condensed Consolidated Financial Statements CVS Health Corporation Condensed Consolidated Statements of Operations (Unaudited) Three Months Ended June 30, Six Months Ended June 30, In millions, except per share amounts 2024 2023 2024 2023 Revenues: Products $ 56,212 $ 60,539 $ 109,936 $ 118,686 Premiums 30,667 25,108 61,058 49,460 Services 3,961 3,000 7,829 5,445 Net investment income 394 274 848 608 Total revenues 91,234 88,921 179,671 174,199 Operating costs: Cost of products sold 49,998 53,536 98,071 104,991 Health care costs 27,853 21,782 55,656 42,230 Operating expenses 10,338 9,873 20,628 19,453 Restructuring charge — 496 — 496 Loss on assets held for sale — — — 349 Total operating costs 88,189 85,687 174,355 167,519 Operating income 3,045 3,234 5,316 6,680 Interest expense 732 686 1,448 1,275 Other income ( 24 ) ( 22 ) ( 49 ) ( 44 ) Income before income tax provision 2,337 2,570 3,917 5,449 Income tax provision 569 656 1,025 1,393 Net income 1,768 1,914 2,892 4,056 Net (income) loss attributable to noncontrolling interests 2 ( 13 ) ( 9 ) ( 19 ) Net income attributab