2024 Q2 Form 10-Q Financial Statement

#000006480324000016 Filed on May 01, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $91.23B $88.44B
YoY Change 2.6% 3.7%
Cost Of Revenue $50.00B $75.88B
YoY Change -6.61% 47.46%
Gross Profit $41.24B $12.56B
YoY Change 16.54% -62.86%
Gross Profit Margin 45.2% 14.2%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.138B
YoY Change 13.69%
% of Gross Profit 9.06%
Operating Expenses $10.34B $10.29B
YoY Change -67.34% -65.73%
Operating Profit $3.045B $2.271B
YoY Change -18.36% -34.1%
Interest Expense -$732.0M -$716.0M
YoY Change 6.71% -221.56%
% of Operating Profit -24.04% -31.53%
Other Income/Expense, Net $24.00M $25.00M
YoY Change 9.09% 13.64%
Pretax Income $2.337B $1.580B
YoY Change -9.07% -45.12%
Income Tax $569.0M $456.0M
% Of Pretax Income 24.35% 28.86%
Net Earnings $1.770B $1.113B
YoY Change -6.89% -47.89%
Net Earnings / Revenue 1.94% 1.26%
Basic Earnings Per Share $1.41 $0.88
Diluted Earnings Per Share $1.41 $0.88
COMMON SHARES
Basic Shares Outstanding 1.255B shares 1.258B shares
Diluted Shares Outstanding 1.259B shares 1.267B shares

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $16.26B $13.09B
YoY Change -3.7% -26.13%
Cash & Equivalents $12.51B $9.801B
Short-Term Investments $3.755B $3.288B
Other Short-Term Assets $5.237B $5.821B
YoY Change 29.89% 54.53%
Inventory $16.07B $16.35B
Prepaid Expenses
Receivables $32.39B $10.59B
Other Receivables $4.634B $21.63B
Total Short-Term Assets $69.95B $67.47B
YoY Change 3.24% -1.79%
LONG-TERM ASSETS
Property, Plant & Equipment $29.93B $30.08B
YoY Change -2.51% 133.7%
Goodwill $91.27B $91.27B
YoY Change 0.01% 8.58%
Intangibles $28.31B $28.77B
YoY Change -6.0% 9.11%
Long-Term Investments $25.03B $24.07B
YoY Change 13.18% 11.39%
Other Assets $4.798B $8.072B
YoY Change -40.9% 67.33%
Total Long-Term Assets $182.5B $182.3B
YoY Change 0.12% 6.83%
TOTAL ASSETS
Total Short-Term Assets $69.95B $67.47B
Total Long-Term Assets $182.5B $182.3B
Total Assets $252.5B $249.7B
YoY Change 0.96% 4.35%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $52.49B $50.37B
YoY Change 14.65% 15.88%
Accrued Expenses $21.16B $24.14B
YoY Change -13.18% 12.2%
Deferred Revenue $128.0M $117.0M
YoY Change -20.5% -13.97%
Short-Term Debt $0.00 $2.719B
YoY Change -100.0%
Long-Term Debt Due $3.731B $3.731B
YoY Change 166.12% 109.84%
Total Short-Term Liabilities $81.39B $83.32B
YoY Change 2.75% 11.01%
LONG-TERM LIABILITIES
Long-Term Debt $62.64B $57.69B
YoY Change 1.99% 2.2%
Other Long-Term Liabilities $5.526B $30.40B
YoY Change -82.65% 355.64%
Total Long-Term Liabilities $5.526B $88.09B
YoY Change -94.08% 1220.49%
TOTAL LIABILITIES
Total Short-Term Liabilities $81.39B $83.32B
Total Long-Term Liabilities $5.526B $88.09B
Total Liabilities $177.4B $175.8B
YoY Change 0.01% 4.78%
SHAREHOLDERS EQUITY
Retained Earnings $62.80B $61.87B
YoY Change 6.67% 7.13%
Common Stock $18.00M $18.00M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $74.93B $73.97B
YoY Change
Total Liabilities & Shareholders Equity $252.5B $249.7B
YoY Change 0.96% 4.35%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income $1.770B $1.113B
YoY Change -6.89% -47.89%
Depreciation, Depletion And Amortization $1.138B
YoY Change 13.69%
Cash From Operating Activities $3.089B $4.903B
YoY Change -47.71% -34.08%
INVESTING ACTIVITIES
Capital Expenditures $638.0M $705.0M
YoY Change 7.95% -28.35%
Acquisitions $25.00M
YoY Change -99.65%
Other Investing Activities -$987.0M -$1.389B
YoY Change -89.9% 4380.65%
Cash From Investing Activities -$1.625B -$2.094B
YoY Change -84.32% -75.41%
FINANCING ACTIVITIES
Cash Dividend Paid $840.0M
YoY Change 7.83%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $18.00M
YoY Change -95.03%
Cash From Financing Activities 1.249B -1.227B
YoY Change -65.55% -145.01%
NET CHANGE
Cash From Operating Activities 3.089B 4.903B
Cash From Investing Activities -1.625B -2.094B
Cash From Financing Activities 1.249B -1.227B
Net Change In Cash 2.713B 1.582B
YoY Change -427.66% -4.12%
FREE CASH FLOW
Cash From Operating Activities $3.089B $4.903B
Capital Expenditures $638.0M $705.0M
Free Cash Flow $2.451B $4.198B
YoY Change -53.9% -34.96%

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<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Reclassifications</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain prior year amounts have been reclassified to conform with the current year presentation.</span></div>
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CY2024Q1 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
-18000000 usd
CY2023Q1 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
-105000000 usd
CY2024Q1 us-gaap Investment Income Net
InvestmentIncomeNet
454000000 usd
CY2023Q1 us-gaap Investment Income Net
InvestmentIncomeNet
334000000 usd
CY2024Q1 cvs Yield Related Impairment Loss Debt Securities Available For Sale Recognized In Earnings
YieldRelatedImpairmentLossDebtSecuritiesAvailableForSaleRecognizedInEarnings
10000000 usd
CY2024Q1 cvs Credit Related Impairment Loss Debt Securities Available For Sale Recognized In Earnings
CreditRelatedImpairmentLossDebtSecuritiesAvailableForSaleRecognizedInEarnings
0 usd
CY2023Q1 cvs Yield Related Impairment Loss Debt Securities Available For Sale Recognized In Earnings
YieldRelatedImpairmentLossDebtSecuritiesAvailableForSaleRecognizedInEarnings
24000000 usd
CY2023Q1 cvs Credit Related Impairment Loss Debt Securities Available For Sale Recognized In Earnings
CreditRelatedImpairmentLossDebtSecuritiesAvailableForSaleRecognizedInEarnings
-1000000 usd
CY2024Q1 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
1265000000 usd
CY2023Q1 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
1341000000 usd
CY2024Q1 us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
8000000 usd
CY2023Q1 cvs Policyholder Account Balance Change In Net Unrealized Gains Losses
PolicyholderAccountBalanceChangeInNetUnrealizedGainsLosses
21000000 usd
CY2024Q1 us-gaap Policyholder Account Balance Increase Decrease From Other Change
PolicyholderAccountBalanceIncreaseDecreaseFromOtherChange
-4000000 usd
CY2023Q1 us-gaap Policyholder Account Balance Increase Decrease From Other Change
PolicyholderAccountBalanceIncreaseDecreaseFromOtherChange
-9000000 usd
CY2024Q1 us-gaap Policyholder Funds
PolicyholderFunds
329000000 usd
CY2023Q1 us-gaap Policyholder Funds
PolicyholderFunds
349000000 usd
CY2023Q1 us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
3000000 usd
CY2024Q1 us-gaap Debt Securities Available For Sale Realized Loss
DebtSecuritiesAvailableForSaleRealizedLoss
52000000 usd
CY2023Q1 us-gaap Debt Securities Available For Sale Realized Loss
DebtSecuritiesAvailableForSaleRealizedLoss
111000000 usd
CY2024Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Into Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersIntoLevel3
0 usd
CY2024Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3
0 usd
CY2023Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3
29000000 usd
CY2024Q1 us-gaap Schedule Of Liability For Unpaid Claims And Claims Adjustment Expense
ScheduleOfLiabilityForUnpaidClaimsAndClaimsAdjustmentExpense
<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table shows the components of the change in health care costs payable during the three months ended March 31, 2024 and 2023:</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:74.923%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.595%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.598%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Three Months Ended<br/>March 31,</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-style:italic;font-weight:700;line-height:100%;text-decoration:underline">In millions</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2024</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2023</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Health care costs payable, beginning of the period</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">12,049 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10,142 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Less: Reinsurance recoverables</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Less: Impact of discount rate on long-duration insurance reserves </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(23)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Health care costs payable, beginning of the period, net</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">12,067 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10,129 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Add: Components of incurred health care costs</span></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">  Current year</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">28,212 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">21,068 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">  Prior years</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(479)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(693)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Total incurred health care costs </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(2)</span></div></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">27,733 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">20,375 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Less: Claims paid</span></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">  Current year</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">16,263 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">11,957 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">  Prior years</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">9,150 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7,645 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Total claims paid</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">25,413 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">19,602 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Health care costs payable, end of the period, net</span></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">14,387 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10,902 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Add: Reinsurance recoverables</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Add: Impact of discount rate on long-duration insurance reserves </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(23)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(12)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Health care costs payable, end of the period</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">14,368 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10,895 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">_____________________________________________</span></div><div style="padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.68pt">Reflects the difference between the current discount rate and the locked-in discount rate on long-duration insurance reserves which is recorded within accumulated other comprehensive loss on the unaudited condensed consolidated balance sheets. </span></div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2)</span>Total incurred health care costs for the three months ended March 31, 2024 and 2023 in the table above exclude $23 million and $22 million, respectively, of health care costs recorded in the Health Care Benefits segment that are included in other insurance liabilities on the unaudited condensed consolidated balance sheets and $47 million and $51 million, respectively, of health care costs recorded in the Corporate/Other segment that are included in other insurance liabilities on the unaudited condensed consolidated balance sheets.
CY2023Q4 cvs Liability For Claims And Claims Adjustment Expense And Health Care Organization Accounts Payable To Third Party Payor
LiabilityForClaimsAndClaimsAdjustmentExpenseAndHealthCareOrganizationAccountsPayableToThirdPartyPayor
12049000000 usd
CY2023Q4 us-gaap Reinsurance Recoverable For Unpaid Claims And Claims Adjustments
ReinsuranceRecoverableForUnpaidClaimsAndClaimsAdjustments
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CY2023Q4 us-gaap Aoci Liability For Future Policy Benefit Expected Future Policy Benefit Before Tax
AociLiabilityForFuturePolicyBenefitExpectedFuturePolicyBenefitBeforeTax
23000000 usd
CY2023Q4 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Net
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseNet
12067000000 usd
CY2024Q1 us-gaap Supplemental Information For Property Casualty Insurance Underwriters Current Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersCurrentYearClaimsAndClaimsAdjustmentExpense
28212000000 usd
CY2024Q1 us-gaap Supplemental Information For Property Casualty Insurance Underwriters Prior Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPriorYearClaimsAndClaimsAdjustmentExpense
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CY2024Q1 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims1
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27733000000 usd
CY2024Q1 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Current Year1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseClaimsPaidCurrentYear1
16263000000 usd
CY2024Q1 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Prior Years1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseClaimsPaidPriorYears1
9150000000 usd
CY2024Q1 us-gaap Payments For Losses And Loss Adjustment Expense
PaymentsForLossesAndLossAdjustmentExpense
25413000000 usd
CY2024Q1 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Net
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseNet
14387000000 usd
CY2024Q1 us-gaap Reinsurance Recoverable For Unpaid Claims And Claims Adjustments
ReinsuranceRecoverableForUnpaidClaimsAndClaimsAdjustments
4000000 usd
CY2024Q1 us-gaap Aoci Liability For Future Policy Benefit Expected Future Policy Benefit Before Tax
AociLiabilityForFuturePolicyBenefitExpectedFuturePolicyBenefitBeforeTax
23000000 usd
CY2024Q1 cvs Liability For Claims And Claims Adjustment Expense And Health Care Organization Accounts Payable To Third Party Payor
LiabilityForClaimsAndClaimsAdjustmentExpenseAndHealthCareOrganizationAccountsPayableToThirdPartyPayor
14368000000 usd
CY2024Q1 us-gaap Supplemental Information For Property Casualty Insurance Underwriters Prior Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPriorYearClaimsAndClaimsAdjustmentExpense
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CY2024Q1 us-gaap Shortduration Insurance Contracts Incurred But Not Reported Ibnr Claims Liability Net
ShortdurationInsuranceContractsIncurredButNotReportedIbnrClaimsLiabilityNet
11000000000 usd
CY2023Q4 us-gaap Policyholder Funds
PolicyholderFunds
332000000 usd
CY2022Q4 us-gaap Policyholder Funds
PolicyholderFunds
345000000 usd
CY2024Q1 cvs Policyholder Account Balance Deposits Received
PolicyholderAccountBalanceDepositsReceived
9000000 usd
CY2023Q1 cvs Policyholder Account Balance Deposits Received
PolicyholderAccountBalanceDepositsReceived
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CY2024Q1 us-gaap Policyholder Account Balance Policy Charge
PolicyholderAccountBalancePolicyCharge
1000000 usd
CY2023Q1 us-gaap Policyholder Account Balance Policy Charge
PolicyholderAccountBalancePolicyCharge
0 usd
CY2024Q1 us-gaap Policyholder Account Balance Surrender And Withdrawal
PolicyholderAccountBalanceSurrenderAndWithdrawal
4000000 usd
CY2023Q1 us-gaap Policyholder Account Balance Surrender And Withdrawal
PolicyholderAccountBalanceSurrenderAndWithdrawal
7000000 usd
CY2024Q1 us-gaap Interest Credited To Policyholders Account Balances
InterestCreditedToPolicyholdersAccountBalances
3000000 usd
CY2023Q1 us-gaap Interest Credited To Policyholders Account Balances
InterestCreditedToPolicyholdersAccountBalances
3000000 usd
CY2024Q1 cvs Policyholder Account Balance Change In Net Unrealized Gains Losses
PolicyholderAccountBalanceChangeInNetUnrealizedGainsLosses
-6000000 usd
CY2024Q1 us-gaap Policyholder Account Balance Weighted Average Crediting Rate
PolicyholderAccountBalanceWeightedAverageCreditingRate
0.0430
CY2023Q1 us-gaap Policyholder Account Balance Weighted Average Crediting Rate
PolicyholderAccountBalanceWeightedAverageCreditingRate
0.0455
CY2024Q1 us-gaap Policyholder Account Balance Net Amount At Risk
PolicyholderAccountBalanceNetAmountAtRisk
0 usd
CY2023Q1 us-gaap Policyholder Account Balance Net Amount At Risk
PolicyholderAccountBalanceNetAmountAtRisk
0 usd
CY2024Q1 us-gaap Cash Surrender Value Due Policyholders Amount
CashSurrenderValueDuePolicyholdersAmount
320000000 usd
CY2023Q1 us-gaap Cash Surrender Value Due Policyholders Amount
CashSurrenderValueDuePolicyholdersAmount
332000000 usd
CY2023Q4 us-gaap Separate Accounts Liability
SeparateAccountsLiability
3250000000 usd
CY2022Q4 us-gaap Separate Accounts Liability
SeparateAccountsLiability
3228000000 usd
CY2024Q1 us-gaap Separate Account Liability Premium And Deposit
SeparateAccountLiabilityPremiumAndDeposit
201000000 usd
CY2023Q1 us-gaap Separate Account Liability Premium And Deposit
SeparateAccountLiabilityPremiumAndDeposit
246000000 usd
CY2024Q1 us-gaap Separate Account Liability Surrender And Withdrawal
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93000000 usd
CY2023Q1 us-gaap Separate Account Liability Surrender And Withdrawal
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CY2024Q1 us-gaap Separate Account Liability Benefit Payment
SeparateAccountLiabilityBenefitPayment
223000000 usd
CY2023Q1 us-gaap Separate Account Liability Benefit Payment
SeparateAccountLiabilityBenefitPayment
260000000 usd
CY2024Q1 us-gaap Separate Account Liability Increase Decrease From Invested Performance
SeparateAccountLiabilityIncreaseDecreaseFromInvestedPerformance
128000000 usd
CY2023Q1 us-gaap Separate Account Liability Increase Decrease From Invested Performance
SeparateAccountLiabilityIncreaseDecreaseFromInvestedPerformance
23000000 usd
CY2024Q1 us-gaap Transfer To From Policyholder Account Balance To From Separate Account
TransferToFromPolicyholderAccountBalanceToFromSeparateAccount
-2000000 usd
CY2023Q1 us-gaap Transfer To From Policyholder Account Balance To From Separate Account
TransferToFromPolicyholderAccountBalanceToFromSeparateAccount
0 usd
CY2024Q1 us-gaap Separate Account Liability Increase Decrease From Other Change
SeparateAccountLiabilityIncreaseDecreaseFromOtherChange
6000000 usd
CY2023Q1 us-gaap Separate Account Liability Increase Decrease From Other Change
SeparateAccountLiabilityIncreaseDecreaseFromOtherChange
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CY2024Q1 us-gaap Separate Accounts Liability
SeparateAccountsLiability
3271000000 usd
CY2023Q1 us-gaap Separate Accounts Liability
SeparateAccountsLiability
3231000000 usd
CY2024Q1 us-gaap Separate Account Liability Cash Surrender Value Amount
SeparateAccountLiabilityCashSurrenderValueAmount
2201000000 usd
CY2023Q1 us-gaap Separate Account Liability Cash Surrender Value Amount
SeparateAccountLiabilityCashSurrenderValueAmount
2142000000 usd
CY2024Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.665
CY2023Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.605
CY2024Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-44000000 usd
CY2023Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
389000000 usd
CY2024Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1113000000 usd
CY2024Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
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1113000000 usd
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
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2136000000 usd
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
2136000000 usd
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1260000000 shares
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1283000000 shares
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1267000000 shares
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1291000000 shares
CY2024Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.88
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.66
CY2024Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.88
CY2023Q1 us-gaap Earnings Per Share Diluted
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1.65
CY2024Q1 cvs Guarantor Obligations Number Of Leases
GuarantorObligationsNumberOfLeases
63 lease
CY2024Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
3 segment
CY2024Q1 cvs Premiums Earned Net And Revenue From Contract With Customer Excluding Assessed Tax
PremiumsEarnedNetAndRevenueFromContractWithCustomerExcludingAssessedTax
87983000000 usd
CY2024Q1 us-gaap Net Investment Income
NetInvestmentIncome
454000000 usd
CY2024Q1 us-gaap Revenues
Revenues
88437000000 usd
CY2024Q1 cvs Adjusted Operating Income Loss
AdjustedOperatingIncomeLoss
2957000000 usd
CY2023Q1 cvs Premiums Earned Net And Revenue From Contract With Customer Excluding Assessed Tax
PremiumsEarnedNetAndRevenueFromContractWithCustomerExcludingAssessedTax
84944000000 usd
CY2023Q1 us-gaap Net Investment Income
NetInvestmentIncome
334000000 usd
CY2023Q1 us-gaap Revenues
Revenues
85278000000 usd
CY2023Q1 cvs Adjusted Operating Income Loss
AdjustedOperatingIncomeLoss
4370000000 usd
CY2024Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
2271000000 usd
CY2023Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
3446000000 usd
CY2024Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
508000000 usd
CY2023Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
402000000 usd
CY2024Q1 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
-18000000 usd
CY2023Q1 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
-105000000 usd
CY2024Q1 us-gaap Business Combination Integration Related Costs
BusinessCombinationIntegrationRelatedCosts
60000000 usd
CY2023Q1 us-gaap Business Combination Integration Related Costs
BusinessCombinationIntegrationRelatedCosts
43000000 usd
CY2024Q1 us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
-100000000 usd
CY2023Q1 us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
0 usd
CY2024Q1 cvs Office Real Estate Optimization Charges
OfficeRealEstateOptimizationCharges
0 usd
CY2023Q1 cvs Office Real Estate Optimization Charges
OfficeRealEstateOptimizationCharges
25000000 usd
CY2024Q1 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0 usd
CY2023Q1 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
349000000 usd
CY2024Q1 cvs Adjusted Operating Income Loss
AdjustedOperatingIncomeLoss
2957000000 usd
CY2023Q1 cvs Adjusted Operating Income Loss
AdjustedOperatingIncomeLoss
4370000000 usd
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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