2013 Q2 Form 10-Q Financial Statement

#000006480313000021 Filed on August 06, 2013

View on sec.gov

Income Statement

Concept 2013 Q2 2012 Q2
Revenue $31.25B $30.69B
YoY Change 1.8% 16.2%
Cost Of Revenue $25.41B $25.27B
YoY Change 0.56% 18.46%
Gross Profit $5.841B $5.443B
YoY Change 7.31% 7.02%
Gross Profit Margin 18.69% 17.73%
Selling, General & Admin $3.869B $3.741B
YoY Change 3.42% 3.86%
% of Gross Profit 66.24% 68.73%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $3.869B $3.741B
YoY Change 3.42% 3.86%
Operating Profit $1.972B $1.702B
YoY Change 15.86% 14.69%
Interest Expense $127.0M $132.0M
YoY Change -3.79% -11.41%
% of Operating Profit 6.44% 7.76%
Other Income/Expense, Net
YoY Change
Pretax Income $1.846B $1.576B
YoY Change 17.13% 17.96%
Income Tax $721.0M $610.0M
% Of Pretax Income 39.06% 38.71%
Net Earnings $1.124B $961.0M
YoY Change 16.96% 17.91%
Net Earnings / Revenue 3.6% 3.13%
Basic Earnings Per Share $0.92 $0.75
Diluted Earnings Per Share $0.91 $0.75
COMMON SHARES
Basic Shares Outstanding 1.227B shares 1.278B shares
Diluted Shares Outstanding 1.236B shares 1.287B shares

Balance Sheet

Concept 2013 Q2 2012 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.179B $1.828B
YoY Change -35.5% -18.14%
Cash & Equivalents $1.174B $1.823B
Short-Term Investments $5.000M $5.000M
Other Short-Term Assets $413.0M $919.0M
YoY Change -55.06% 10.86%
Inventory $10.58B $10.43B
Prepaid Expenses
Receivables $7.093B $6.124B
Other Receivables $0.00 $0.00
Total Short-Term Assets $19.87B $19.30B
YoY Change 2.95% 1.23%
LONG-TERM ASSETS
Property, Plant & Equipment $8.708B $8.614B
YoY Change 1.09% 1.54%
Goodwill $26.55B $26.43B
YoY Change 0.49%
Intangibles $9.657B
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.496B $1.360B
YoY Change 10.0% 11.48%
Total Long-Term Assets $46.42B $46.29B
YoY Change 0.27% -0.28%
TOTAL ASSETS
Total Short-Term Assets $19.87B $19.30B
Total Long-Term Assets $46.42B $46.29B
Total Assets $66.28B $65.59B
YoY Change 1.06% 0.16%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.178B $8.551B
YoY Change -39.45% 13.91%
Accrued Expenses $3.501B $4.380B
YoY Change -20.07% 31.57%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $200.0M
YoY Change -100.0%
Long-Term Debt Due $18.00M $5.000M
YoY Change 260.0% -99.45%
Total Short-Term Liabilities $12.69B $13.14B
YoY Change -3.4% 11.78%
LONG-TERM LIABILITIES
Long-Term Debt $9.358B $9.208B
YoY Change 1.63% -9.44%
Other Long-Term Liabilities $1.534B $1.438B
YoY Change 6.68% 7.07%
Total Long-Term Liabilities $10.89B $10.65B
YoY Change 2.31% -7.51%
TOTAL LIABILITIES
Total Short-Term Liabilities $12.69B $13.14B
Total Long-Term Liabilities $10.89B $10.65B
Total Liabilities $23.58B $27.68B
YoY Change -14.79% 1.59%
SHAREHOLDERS EQUITY
Retained Earnings $26.57B
YoY Change
Common Stock $17.00M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $16.99B
YoY Change
Treasury Stock Shares 448.0M shares 385.0M shares
Shareholders Equity $38.91B $37.91B
YoY Change
Total Liabilities & Shareholders Equity $66.28B $65.59B
YoY Change 1.06% 0.16%

Cashflow Statement

Concept 2013 Q2 2012 Q2
OPERATING ACTIVITIES
Net Income $1.124B $961.0M
YoY Change 16.96% 17.91%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $902.0M $1.231B
YoY Change -26.73% 1.99%
INVESTING ACTIVITIES
Capital Expenditures -$486.0M -$442.0M
YoY Change 9.95% 10.22%
Acquisitions
YoY Change
Other Investing Activities -$40.00M -$200.0M
YoY Change -80.0% -85.36%
Cash From Investing Activities -$526.0M -$642.0M
YoY Change -18.07% -63.67%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -751.0M -977.0M
YoY Change -23.13% -256.07%
NET CHANGE
Cash From Operating Activities 902.0M 1.231B
Cash From Investing Activities -526.0M -642.0M
Cash From Financing Activities -751.0M -977.0M
Net Change In Cash -375.0M -388.0M
YoY Change -3.35% -687.88%
FREE CASH FLOW
Cash From Operating Activities $902.0M $1.231B
Capital Expenditures -$486.0M -$442.0M
Free Cash Flow $1.388B $1.673B
YoY Change -17.04% 4.04%

Facts In Submission

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us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
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CY2013Q2 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
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us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
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CY2012Q4 us-gaap Other Liabilities Noncurrent
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CY2013Q2 us-gaap Other Liabilities Noncurrent
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Payments Of Dividends
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CY2013Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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CY2012Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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0 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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us-gaap Other Comprehensive Income Loss Net Of Tax
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us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Payments To Suppliers
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us-gaap Payments To Suppliers
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us-gaap Payments To Suppliers And Employees
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us-gaap Payments To Suppliers And Employees
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us-gaap Proceeds From Customers
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us-gaap Proceeds From Customers
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us-gaap Proceeds From Interest Received
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us-gaap Proceeds From Interest Received
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us-gaap Proceeds From Repayments Of Short Term Debt
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us-gaap Proceeds From Sale Of Productive Assets
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us-gaap Proceeds From Sale Of Productive Assets
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us-gaap Proceeds From Sale Of Property Plant And Equipment
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us-gaap Proceeds From Sale Of Property Plant And Equipment
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0 USD
us-gaap Proceeds From Stock Options Exercised
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us-gaap Proceeds From Stock Options Exercised
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us-gaap Profit Loss
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us-gaap Profit Loss
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us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
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CY2012Q2 us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
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us-gaap Repayments Of Long Term Debt
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54000000 USD
us-gaap Repayments Of Long Term Debt
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0 USD
CY2012Q2 us-gaap Restricted Stock Expense
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us-gaap Restricted Stock Expense
RestrictedStockExpense
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CY2013Q2 us-gaap Restricted Stock Expense
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us-gaap Restricted Stock Expense
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CY2013Q2 us-gaap Retained Earnings Accumulated Deficit
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CY2013Q2 us-gaap Revenues
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CY2012Q2 us-gaap Revenues
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us-gaap Revenues
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us-gaap Revenues
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us-gaap Share Based Compensation
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us-gaap Share Based Compensation
ShareBasedCompensation
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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8000000 shares
CY2013Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
12.45
CY2013Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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CY2013Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
40.63
CY2013Q2 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
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P4Y8M5D
CY2013Q2 us-gaap Short Term Borrowings
ShortTermBorrowings
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CY2012Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
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CY2013Q2 us-gaap Short Term Investments
ShortTermInvestments
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CY2012Q4 us-gaap Short Term Investments
ShortTermInvestments
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us-gaap Stock Option Plan Expense
StockOptionPlanExpense
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us-gaap Stock Option Plan Expense
StockOptionPlanExpense
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CY2012Q2 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
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CY2013Q2 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
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CY2013Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2012Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2012Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
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CY2013Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
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CY2012Q4 us-gaap Treasury Stock Value
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CY2013Q2 us-gaap Treasury Stock Value
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2013Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2012Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2012Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1230000000 shares
CY2013Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2013Q2 cvs Claims And Discounts Payable
ClaimsAndDiscountsPayable
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CY2012Q4 cvs Claims And Discounts Payable
ClaimsAndDiscountsPayable
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cvs Deferred Income Tax Expense Benefit And Other Non Cash Items
DeferredIncomeTaxExpenseBenefitAndOtherNonCashItems
83000000 USD
cvs Deferred Income Tax Expense Benefit And Other Non Cash Items
DeferredIncomeTaxExpenseBenefitAndOtherNonCashItems
82000000 USD
CY2013Q2 cvs Guaranteed Store Leases
GuaranteedStoreLeases
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CY2013Q2 cvs Incremental Common Shares Attributable To Restricted Stock Units
IncrementalCommonSharesAttributableToRestrictedStockUnits
1000000 shares
cvs Incremental Common Shares Attributable To Restricted Stock Units
IncrementalCommonSharesAttributableToRestrictedStockUnits
1000000 shares
CY2012Q2 cvs Incremental Common Shares Attributable To Restricted Stock Units
IncrementalCommonSharesAttributableToRestrictedStockUnits
1000000 shares
cvs Incremental Common Shares Attributable To Restricted Stock Units
IncrementalCommonSharesAttributableToRestrictedStockUnits
1000000 shares
cvs Intersegment Transactions Number Of Type Of Transactions
IntersegmentTransactionsNumberOfTypeOfTransactions
2 type_of_transaction
cvs Minimum Initial Maturities Of Short Term Investments
MinimumInitialMaturitiesOfShortTermInvestments
P3M
CY2003Q4 cvs Number Of Competitors Against Whom Putative Actions Are Filed
NumberOfCompetitorsAgainstWhomPutativeActionsAreFiled
2 competitor
CY2003Q4 cvs Number Of Pharmacies Filing Putative Action
NumberOfPharmaciesFilingPutativeAction
2 pharmacy
CY2013Q2 cvs Other Comprehensive Income Loss Before Reclassification Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationNetOfTax
-16000000 USD
cvs Other Comprehensive Income Loss Before Reclassification Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationNetOfTax
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cvs Purchase Of Noncontrolling Interest In Subsidiary
PurchaseOfNoncontrollingInterestInSubsidiary
0 USD
cvs Purchase Of Noncontrolling Interest In Subsidiary
PurchaseOfNoncontrollingInterestInSubsidiary
26000000 USD
cvs Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
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cvs Segment Reporting Information Revenues Recorded By More Than One Reporting Segment
SegmentReportingInformationRevenuesRecordedByMoreThanOneReportingSegment
1600000000 USD
CY2013Q2 cvs Segment Reporting Information Revenues Recorded By More Than One Reporting Segment
SegmentReportingInformationRevenuesRecordedByMoreThanOneReportingSegment
1100000000 USD
CY2012Q2 cvs Segment Reporting Information Revenues Recorded By More Than One Reporting Segment
SegmentReportingInformationRevenuesRecordedByMoreThanOneReportingSegment
840000000 USD
cvs Segment Reporting Information Revenues Recorded By More Than One Reporting Segment
SegmentReportingInformationRevenuesRecordedByMoreThanOneReportingSegment
2000000000 USD
dei Amendment Flag
AmendmentFlag
0
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
dei Document Period End Date
DocumentPeriodEndDate
2013-06-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0000064803
CY2013Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
1228369418 shares
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
CVS CAREMARK CORPORATION

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