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Cvs Health Corp (CVS) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2015

Cvs Health Corp

CIK: 64803 Ticker: CVS
Exhibit 99.1
 
Investor Contact:
 
Nancy Christal
 
Media Contact:
 
Carolyn Castel
 
 
Senior Vice President
 
 
 
Vice President
 
 
Investor Relations
 
 
 
Corporate Communications
 
 
(914) 722-4704
 
 
 
(401) 770-5717
 
FOR IMMEDIATE RELEASE
 
CVS HEALTH REPORTS STRONG FOURTH QUARTER AND FULL YEAR PROFIT GROWTH FOR 2015; CONFIRMS 2016 GUIDANCE
 
Fourth Quarter Year-over-year Highlights:
Net revenues increased 11.0% to a record $41.1 billion
Operating profit increased 17.6% to $2.7 billion
GAAP diluted EPS from continuing operations of $1.34
Adjusted EPS of $1.53, an increase of 26.5%, excluding certain items (amortization, transaction and integration costs, and a $90 million charge related to a disputed 1999 legal settlement)
 
Full Year Highlights: 
Net revenues increased 10.0% to a record $153.3 billion
Operating profit increased 7.4% to $9.5 billion
GAAP diluted EPS from continuing operations of $4.62
Adjusted EPS of $5.16, an increase of 14.8%, excluding certain items (amortization, bridge financing costs, transaction and integration costs, a $90 million charge related to a disputed 1999 legal settlement, and the 2014 loss on early extinguishment of debt)
Generated free cash flow of $6.5 billion; cash flow from operations of $8.4 billion
 
2016 Guidance: 
Confirmed full year Adjusted EPS of $5.73 to $5.88 excluding amortization; GAAP diluted EPS from continuing operations of $5.28 to $5.43; both exclude acquisition-related integration costs
Confirmed first quarter Adjusted EPS of $1.14 to $1.17 excluding amortization; GAAP diluted EPS from continuing operations of $1.03 to $1.06; both exclude acquisition-related integration costs
Confirmed full year free cash flow of $5.3 to $5.6 billion and cash flow from operations of $7.6 to $7.9 billion
 
WOONSOCKET, RHODE ISLAND, February 9, 2016 - CVS Health Corporation (NYSE: CVS) today announced operating results for the three months and year ended December 31, 2015.
 
Revenues
 
Net revenues for the three months ended December 31, 2015 increased 11.0%, or $4.1 billion to $41.1 billion, up from $37.1 billion in the three months ended December 31, 2014. For the year ended December 31, 2015, total net revenues increased 10.0%, or $13.9 billion to $153.3 billion, compared to $139.4 billion for the year ended December 31, 2014.

Revenues in the Pharmacy Services Segment increased 11.1% to $26.5 billion in the three months ended December 31, 2015. This increase was primarily driven by growth in specialty pharmacy, which includes the impact of the Omnicare, Inc. (“Omnicare”) acquisition in August 2015, and pharmacy network claims. Pharmacy network claims processed during the three months ended December 31, 2015, increased 7.2% to 237.4 million, compared to 221.6 million in the prior year period. The increase in pharmacy network claim volume was primarily due to net new business. Mail choice claims processed during the three months ended December 31, 2015 increased approximately 3.9% to 22.2 million, compared to 21.3 million in the prior year period. The increase in the mail choice claim volume was primarily driven by specialty and continued adoption of our Maintenance Choice® offerings, partially offset by a decline in traditional mail volume. For the year ended December 31, 2015, total net revenues in the Pharmacy Services Segment increased 13.5% to $100.4 billion, compared to $88.4 billion in the year ended December 31, 2014.



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The following information was filed by Cvs Health Corp (CVS) on Tuesday, February 9, 2016 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Income
Consolidated Statements Of Shareholders' Equity
Acquisitions
Acquisitions (table)
Acquisitions - Coram Acquisition (details)
Acquisitions - Omnicare Acquisition (details)
Acquisitions - Target Pharmacy Acquisition (details)
Borrowing And Credit Agreements
Borrowing And Credit Agreements (tables)
Borrowing And Credit Agreements - Additional Information (details)
Borrowing And Credit Agreements - Debt Maturities (details)
Borrowing And Credit Agreements - Interest Rate And Maturity (details)
Borrowing And Credit Agreements - Schedule Of Long-term Debt Instruments (details)
Change In Accounting Principle
Change In Accounting Principle (details)
Commitments And Contingencies
Commitments And Contingencies (details)
Earnings Per Share
Earnings Per Share (details)
Earnings Per Share (tables)
Goodwill And Other Intangibles
Goodwill And Other Intangibles (tables)
Goodwill And Other Intangibles - Goodwill (details)
Goodwill And Other Intangibles - Intangible Assets (details)
Income Taxes
Income Taxes (details)
Income Taxes (tables)
Leases
Leases (tables)
Leases - Additional Information (details)
Leases - Schedule Of Future Minimum Lease Payments (details)
Leases - Schedule Of Rent Expense (details)
Medicare Part D
Medicare Part D Medicare Part D (details)
Pension Plans And Other Postretirement Benefits
Pension Plans And Other Postretirement Benefits - Additional Information (details)
Pension Plans And Other Postretirement Benefits - Change In Benefit Obligation (details)
Pension Plans And Other Postretirement Benefits - Change In Plan Assets (details)
Pension Plans And Other Postretirement Benefits - Components Of Net Periodic Benefit Cost (details)
Pension Plans And Other Postretirement Benefits - Expected Future Benefit Payments (details)
Pension Plans And Other Postretirement Benefits - Fair Value Allocation Of Plan Assets (details)
Pension Plans And Other Postretirement Benefits Pension Plans And Other Postretirement Benefits (tables)
Quarterly Financial Information (unaudited)
Quarterly Financial Information (unaudited) (details)
Quarterly Financial Information (unaudited) (tables)
Segment Reporting
Segment Reporting (details)
Segment Reporting (tables)
Share Repurchase Programs
Share Repurchase Programs (details)
Share Repurchase Programs Share Repurchase Programs (tables)
Significant Accounting Policies
Significant Accounting Policies (policies)
Significant Accounting Policies (tables)
Significant Accounting Policies - Accounts Receivable (details)
Significant Accounting Policies - Accumulated Other Comprehensive Income (details)
Significant Accounting Policies - Description Of Business (details)
Significant Accounting Policies - Discontinued Operations (details)
Significant Accounting Policies - Facility Opening, Advertising Costs, Interest Expense, And Shares Held In Trust (details)
Significant Accounting Policies - Fair Value Of Financial Instruments (details)
Significant Accounting Policies - Intangible Assets (details)
Significant Accounting Policies - New Accounting Pronouncements (details)
Significant Accounting Policies - Property And Equipment (details)
Significant Accounting Policies - Redeemable Noncontrolling Interest (details)
Significant Accounting Policies - Related Party Transactions (details)
Significant Accounting Policies - Stock-based Compensation And Variable Interest Entity (details)
Stock Incentive Plans
Stock Incentive Plans (tables)
Stock Incentive Plans - Additional Information (details)
Stock Incentive Plans - Fair Value Of Options Using Black-scholes (details)
Stock Incentive Plans - Schedule Of Restricted Stock And Rsu Activity (details)
Stock Incentive Plans - Schedule Of Stock Option Activity (details)
Stock Incentive Plans - Schedule Of Valuation Assumptions Of Espp (details)
Ticker: CVS
CIK: 64803
Form Type: 10-K Annual Report
Accession Number: 0000064803-16-000074
Submitted to the SEC: Tue Feb 09 2016 4:29:44 PM EST
Accepted by the SEC: Tue Feb 09 2016
Period: Thursday, December 31, 2015
Industry: Retail Drug Stores And Proprietary Stores

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