For the year ending 2025-12-31, CVS had -$172M decrease in cash & cash equivalents over the period. $7,807M in free cash flow.
| Cash Flow | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Loss on assets held for sale | - | 0 | - | - |
| Stock-based compensation | - | 540 | - | - |
| Restructuring charges (impairment of long-lived assets) | - | 840 | - | - |
| Gain on sale of subsidiaries | - | 0 | - | - |
| Deferred income taxes | - | -572 | - | - |
| Other items | - | 502 | - | - |
| Accounts receivable, net | - | 1,301 | - | - |
| Inventories | - | 102 | - | - |
| Other assets | - | 38 | - | - |
| Accounts payable and pharmacy claims and discounts payable | - | 2,335 | - | - |
| Cash receipts from customers | 389,128 | - | 345,464 | 313,662 |
| Health care costs payable and other insurance liabilities | - | 2,757 | - | - |
| Cash paid for inventory, prescriptions dispensed and health services rendered | 216,493 | - | 208,848 | 189,766 |
| Other liabilities | - | -3,542 | - | - |
| Insurance benefits paid | 121,238 | - | 84,097 | 69,728 |
| Net income | - | 4,586 | - | - |
| Cash paid to other suppliers and employees | 37,570 | - | 34,735 | 32,662 |
| Gain on early extinguishment of debt | - | 491 | - | - |
| Interest and investment income received | 1,969 | - | 1,584 | 1,026 |
| Interest paid | 2,991 | - | 2,418 | 2,239 |
| Depreciation and amortization | - | 4,597 | - | - |
| Income taxes paid | 2,166 | - | 3,524 | 4,116 |
| Net cash provided by operating activities | 10,639 | 9,107 | 13,426 | 16,177 |
| Proceeds from sales and maturities of investments | 12,383 | 10,353 | 7,729 | 6,729 |
| Purchases of investments | 15,012 | 15,191 | 9,043 | 7,746 |
| Purchases of property and equipment | 2,832 | 2,781 | 3,031 | 2,727 |
| Proceeds from sale-leaseback transactions | - | - | - | 0 |
| Acquisitions (net of cash and restricted cash acquired) | 436 | 95 | 16,612 | 139 |
| Proceeds from sale of subsidiaries (net of cash and restricted cash sold of 2,854 in 2022) | - | 0 | 0 | -1,249 |
| Other | -26 | -101 | -68 | -85 |
| Net cash used in investing activities | -5,871 | -7,613 | -20,889 | -5,047 |
| Commercial paper borrowings (repayments), net | -2,119 | 1,919 | 200 | - |
| Proceeds from issuance of short-term loan | 0 | 0 | 5,000 | - |
| Repayment of short-term loan | 0 | 0 | 5,000 | - |
| Proceeds from issuance of long-term debt | 3,969 | 7,913 | 10,898 | 0 |
| Repayments of long-term debt | 3,629 | 4,773 | 3,166 | 4,211 |
| Derivative settlements | - | - | - | 0 |
| Repurchase of common stock | 0 | 3,023 | 2,012 | 3,500 |
| Dividends paid | 3,397 | 3,373 | 3,132 | 2,907 |
| Proceeds from exercise of stock options | 394 | 361 | 277 | 551 |
| Payments for taxes related to net share settlement of equity awards | 158 | 185 | 181 | 370 |
| Other | 0 | 26 | -201 | -79 |
| Net cash provided by (used in) financing activities | -4,940 | -1,135 | 2,683 | -10,516 |
| Net increase (decrease) in cash, cash equivalents and restricted cash | -172 | 359 | -4,780 | 614 |
| Cash and cash equivalents at beginning of period | 8,884 | 8,525 | 13,305 | 12,691 |
| Cash and cash equivalents at end of period | 8,712 | 8,884 | 8,525 | 13,305 |
CVS HEALTH Corp (CVS)
CVS HEALTH Corp (CVS)