Cvs Health Corp (CVS) SEC Filing 10-Q Quarterly Report for the period ending Wednesday, March 31, 2021

Cvs Health Corp

CIK: 64803 Ticker: CVS

Exhibit 99.1
InvestorValerie HaertelMediaT.J. Crawford
Contact:Senior Vice PresidentContact:Vice President
Investor RelationsExternal Affairs
(401) 770-4050(212) 457-0583



Full Year and Fourth Quarter Highlights:
Full year total revenues increased to $268.7 billion, up 4.6% compared to prior year
Full year and fourth quarter GAAP diluted earnings per share from continuing operations of $5.47 and $0.75
Full year and fourth quarter Adjusted EPS of $7.50 and $1.30
Generated full year cash flow from operations of $15.9 billion
Results reflect COVID-19 impacts and related investments

2021 Full Year Guidance:
GAAP diluted EPS from continuing operations in the range of $6.06 to $6.22
Adjusted EPS in the range of $7.39 to $7.55
Cash flow from operations in the range of $12.0 billion to $12.5 billion

WOONSOCKET, RHODE ISLAND, February 16, 2021 - CVS Health Corporation (NYSE: CVS) today announced operating results for the three months and year ended December 31, 2020.

CVS Health President and CEO Karen S. Lynch stated, “The COVID-19 pandemic presented unique challenges to our business and to the entire health care industry. We utilized the full depth and breadth of our capabilities and our presence in local communities across the country, to play a leadership role in COVID-19 testing and vaccine administration. Our ability to deliver 2020 full-year results above expectations is a testament to the strength of our strategy and the flexibility of our diversified health services model.

“We are proud to be a trusted health partner to more than 100 million customers through our Pharmacy and Health Care businesses and to be able to support millions of Americans in our local communities, many in underserved and remote areas. We are grateful for the dedication of our nearly 300,000 colleagues, many serving on the frontlines, who demonstrated an unwavering commitment to our fellow Americans.

“Our goal is to make health care more accessible, more affordable and simpler. In order to do this, we will accelerate the pace of our progress through targeted investments in key areas that will drive our consumer-focused strategy. We believe that solving consumer health needs will deliver better health outcomes and lower costs while creating future economic benefit for CVS Health and its shareholders.”

A summary of the Company’s response to the COVID-19 pandemic is included on page six.

The Company presents both GAAP and non-GAAP financial measures in this press release to assist in the comparison of the Company’s past financial performance with its current financial performance. See “Non-GAAP Financial Information” on pages 12 through 13 and endnotes on page 25 for explanations of non-GAAP financial measures presented in this press release. See pages 14 through 17 and page 24 for reconciliations of each non-GAAP financial measure to the most directly comparable GAAP financial measure.

The following information was filed by Cvs Health Corp (CVS) on Tuesday, February 16, 2021 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Cvs Health Corp's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Condensed Consolidated Balance Sheets (Unaudited)
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical)
Condensed Consolidated Statements Of Cash Flows (Unaudited)
Condensed Consolidated Statements Of Comprehensive Income (Unaudited)
Condensed Consolidated Statements Of Operations (Unaudited)
Condensed Consolidated Statements Of Shareholders' Equity (Parentheticals)
Condensed Consolidated Statements Of Shareholders' Equity (Unaudited)
Commitments And Contingencies
Commitments And Contingencies (Details)
Earnings Per Share
Earnings Per Share (Details)
Earnings Per Share (Tables)
Fair Value
Fair Value (Tables)
Fair Value - Carrying Value And Fair Value Classified By Level (Details)
Fair Value - Measurement On A Recurring Basis (Details)
Fair Value - Separate Accounts Fair Value (Details)
Health Care Costs Payable
Health Care Costs Payable (Tables)
Health Care Costs Payable - Components Of Change In Health Care Costs Payable (Details)
Health Care Costs Payable - Narrative (Details)
Investments (Tables)
Investments - Debt Securities (Details)
Investments - Debt Securities By Maturity (Details)
Investments - Mortgage Loans (Details)
Investments - Mortgage Loans Credit Ratings Indicator (Details)
Investments - Net Investment Income (Details)
Investments - Realized Gains (Details)
Investments - Total Investment Schedule (Details)
Investments - Unrealized Loss Position (Details)
Investments - Unrealized Loss Position Maturities (Details)
Other Comprehensive Income
Other Comprehensive Income (Details)
Other Comprehensive Income (Tables)
Segment Reporting
Segment Reporting (Tables)
Segment Reporting - Narrative (Details)
Segment Reporting - Reconciliation From Operating Income To Adjusted Operating Income (Details)
Segment Reporting - Reconciliation Of Financial Measures Of Segments To Consolidated Totals (Details)
Shareholders' Equity
Shareholders' Equity (Details)
Significant Accounting Policies
Significant Accounting Policies (Policies)
Significant Accounting Policies (Tables)
Significant Accounting Policies - Accounts Receivable (Details)
Significant Accounting Policies - Cash And Cash Equivalents, Restricted Cash And Cash Equivalents (Details)
Significant Accounting Policies - Contract Balances (Details)
Significant Accounting Policies - Disaggregation Of Revenue (Details)
Significant Accounting Policies - Narrative (Details)
Significant Accounting Policies - Receivables And Contracted Balances (Details)
Ticker: CVS
CIK: 64803
Form Type: 10-Q Quarterly Report
Accession Number: 0000064803-21-000017
Submitted to the SEC: Tue May 04 2021 6:37:00 AM EST
Accepted by the SEC: Tue May 04 2021
Period: Wednesday, March 31, 2021
Industry: Retail Drug Stores And Proprietary Stores

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