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CVS Health Corp. (CVS)


Analysis of Revenues

Difficulty: Advanced


Revenue Recognition Accounting Policy

The following is a discussion of CVS Health’s revenue recognition policies by segment under the new revenue recognition accounting standard. The new revenue recognition accounting standard does not relate to contracts within the scope of Accounting Standards Codification 944 Financial Services - Insurance. As a result, the majority of revenues within the Health Care Benefits segment and certain revenues within the Pharmacy Services segment are not within the scope of the new accounting standard.

Source: 10-K (filing date: 2019-02-28).


Revenues as Reported

CVS Health Corp., Income Statement, Revenues

US$ in millions

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12 months ended Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
Pharmacy Services 134,115  130,596  119,963  100,363  88,440 
Retail/LTC 83,989  79,398  81,100  72,007  67,798 
Health Care Benefits 5,504  —  —  —  — 
Corporate/Other —  —  —  — 
Intersegment Eliminations (29,693) (25,229) (23,537) (19,080) (16,871)
Net revenues 193,919  184,765  177,526  153,290  139,367 

Based on: 10-K (filing date: 2019-02-28), 10-K (filing date: 2018-02-14), 10-K (filing date: 2017-02-09), 10-K (filing date: 2016-02-09), 10-K (filing date: 2015-02-10).

Item Description The company
Net revenues Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). CVS Health Corp.’s net revenues increased from 2016 to 2017 and from 2017 to 2018.