Balance Sheet: Assets

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

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CVS Health Corp., consolidated balance sheet: assets

US$ in millions

		Dec 31, 2024		Dec 31, 2023		Dec 31, 2022		Dec 31, 2021		Dec 31, 2020
	Cash and cash equivalents
	Investments
	Accounts receivable, net
	Inventories
	Assets held for sale
	Other current assets
	Current assets
	Long-term investments
	Property and equipment, net
	Operating lease right-of-use assets
	Goodwill
	Intangible assets, net
	Separate accounts assets
	Other assets
	Long-term assets
	Total assets

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

The financial data reveals several notable trends and shifts in the company's asset structure over the five-year period.

Liquidity and Short-term Assets: Cash and cash equivalents increased steadily from 2020 to 2022, peaking at $12,945 million, before declining in 2023 and slightly rebounding in 2024 to $8,586 million. Investments showed minor fluctuations, peaking in 2023 at $3,259 million but dropping to $2,407 million in 2024. Accounts receivable, net, exhibited robust growth, rising consistently each year, culminating at $36,469 million in 2024, indicating expanding credit sales or longer collection periods. Inventories remained relatively stable, showing some volatility but maintaining around $18,000 million. Other current assets decreased sharply in 2022 and recovered somewhat afterwards. Current assets overall trended upward steadily, increasing from $56,369 million in 2020 to $68,645 million in 2024, demonstrating growth in liquid and near-liquid assets.
Assets Held for Sale: There was a one-time recognition of assets held for sale in 2022 at $908 million, with no amounts reported in other years, suggesting a divestiture or planned sale during that period.
Long-term Investments and Fixed Assets: Long-term investments fluctuated, initially rising from $20,812 million in 2020 to around $23,025 million in 2021 and 2023, but displayed a notable increase to $28,934 million in 2024, reflecting a more substantial allocation to long-term holdings. Property and equipment, net, remained relatively stable around the $13,000 million mark, indicating no significant new capital expenditures or disposals. Operating lease right-of-use assets showed a steady decline from $20,729 million in 2020 to $15,944 million in 2024, suggesting lease terminations or expirations.
Intangible Assets and Goodwill: Goodwill held steady around $79,000 million from 2020 to 2022 but experienced a significant jump to $91,272 million in 2023 and remained at that level in 2024, which may indicate acquisitions or revaluations. Intangible assets, net, decreased from $31,142 million in 2020 to $24,754 million in 2022, then rebounded to $29,234 million in 2023 before slightly declining again in 2024 to $27,323 million, reflecting amortization or impairment gains and possible new asset recognition.
Supplementary Asset Categories: Separate accounts assets decreased markedly in 2022 and then stabilized, while other assets remained relatively constant around $4,600 million, showing no major changes. Long-term assets overall declined from $174,346 million in 2020 to $162,593 million in 2022, before increasing significantly to $184,570 million in 2024, highlighting recovery and growth in long-term holdings or capital assets.
Total Assets: Total assets remained relatively stable with minor fluctuations from 2020 through 2022, seen in a drop from $230,715 million to $228,275 million. However, a marked increase occurred in 2023 and 2024, reaching $253,215 million, reflecting overall asset growth, possibly driven by acquisitions, increased receivables, and investments.

Assets: Selected Items

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Current Assets: Selected Items