Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

CVS Health Corp., consolidated income statement

US$ in millions

12 months ended:	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Products	231,521)	245,138)	226,616)	203,738)	190,688)
Premiums	122,896)	99,192)	85,330)	76,132)	69,364)
Services	16,239)	12,293)	9,683)	11,042)	7,856)
Revenues from customers	370,656)	356,623)	321,629)	290,912)	267,908)
Cost of products sold	(206,287)	(217,098)	(196,892)	(175,803)	(163,981)
Health care costs	(115,121)	(86,247)	(71,281)	(64,260)	(55,679)
Cost of revenues	(321,408)	(303,345)	(268,173)	(240,063)	(219,660)
Gross profit	49,248)	53,278)	53,456)	50,849)	48,248)
Net investment income	2,153)	1,153)	838)	1,199)	798)
Operating expenses	(41,606)	(39,832)	(38,212)	(37,066)	(35,135)
Restructuring charges	(1,179)	(507)	—)	—)	—)
Opioid litigation charges	(100)	—)	(5,803)	—)	—)
Loss on assets held for sale	—)	(349)	(2,533)	—)	—)
Store impairments	—)	—)	—)	(1,358)	—)
Goodwill impairment	—)	—)	—)	(431)	—)
Operating income	8,516)	13,743)	7,746)	13,193)	13,911)
Interest expense	(2,958)	(2,658)	(2,287)	(2,503)	(2,907)
Gain (loss) on early extinguishment of debt	491)	—)	—)	(452)	(1,440)
Other income	99)	88)	169)	182)	206)
Income before income tax provision	6,148)	11,173)	5,628)	10,420)	9,770)
Income tax provision	(1,562)	(2,805)	(1,463)	(2,522)	(2,569)
Income from continuing operations	4,586)	8,368)	4,165)	7,898)	7,201)
Loss from discontinued operations, net of tax	—)	—)	—)	—)	(9)
Net income	4,586)	8,368)	4,165)	7,898)	7,192)
Net (income) loss attributable to noncontrolling interests	28)	(24)	(16)	12)	(13)
Net income attributable to CVS Health	4,614)	8,344)	4,149)	7,910)	7,179)

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).

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Income statement item	Description	The company
Revenues from customers	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	CVS Health Corp. revenues from customers increased from 2022 to 2023 and from 2023 to 2024.
Operating income	The net result for the period of deducting operating expenses from operating revenues.	CVS Health Corp. operating income increased from 2022 to 2023 but then slightly decreased from 2023 to 2024 not reaching 2022 level.
Income before income tax provision	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.	CVS Health Corp. income before income tax provision increased from 2022 to 2023 but then slightly decreased from 2023 to 2024 not reaching 2022 level.
Net income attributable to CVS Health	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	CVS Health Corp. net income attributable to CVS Health increased from 2022 to 2023 but then slightly decreased from 2023 to 2024 not reaching 2022 level.

CVS Health Corp. (NYSE:CVS)

Income Statement