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Significant Accounting Policies (Tables) | 3 Months Ended
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Mar. 31, 2022
Accounting Policies [Abstract] |
Reconciliation of cash and cash equivalents | The following is a reconciliation of cash and cash equivalents on the unaudited condensed consolidated balance sheets to total cash, cash equivalents and restricted cash on the unaudited condensed consolidated statements of cash flows:
In millions | March 31, 2022 |  | December 31, 2021 |  | March 31, 2021
Cash and cash equivalents | $ | 8,442 |  |  | $ | 9,408 |  |  | $ | 5,598 |
Restricted cash (included in other current assets) | 2,913 |  |  | 3,065 |  |  | 2,972 |
Restricted cash (included in other assets) | 256 |  |  | 218 |  |  | 313 |
Total cash, cash equivalents and restricted cash in the statements of cash flows | $ | 11,611 |  |  | $ | 12,691 |  |  | $ | 8,883 |
Schedule of accounts receivable, net | Accounts receivable, net is composed of the following:
In millions | March 31, 2022 |  | December 31, 2021
Trade receivables | $ | 8,728 |  |  | $ | 7,932 |
Vendor and manufacturer receivables | 11,685 |  |  | 10,573 |
Premium receivables | 3,508 |  |  | 2,537 |
Other receivables | 2,530 |  |  | 3,389 |
Total accounts receivable, net | $ | 26,451 |  |  | $ | 24,431 |
Disaggregation of revenue | The following table disaggregates the Company’s revenue by major source in each segment for the three months ended March 31, 2022 and 2021:
In millions | Health Care Benefits |  | Pharmacy Services |  | Retail/ LTC |  | Corporate/ Other |  | Intersegment Eliminations |  | Consolidated Totals
Three Months Ended March 31, 2022 |  |  |  |  |  |  |  |
Major goods/services lines: |  |  |  |  |  |  |  |  |  |  |
Pharmacy | $ | — |  |  | $ | 39,198 |  |  | $ | 19,532 |  |  | $ | — |  |  | $ | (11,240) |  |  | $ | 47,490 |
Front Store | — |  |  | — |  |  | 5,313 |  |  | — |  |  | — |  |  | 5,313 |
Premiums | 21,614 |  |  | — |  |  | — |  |  | 17 |  |  | — |  |  | 21,631 |
Net investment income (loss) | 89 |  |  | — |  |  | (16) |  |  | 95 |  |  | — |  |  | 168 |
Other | 1,406 |  |  | 263 |  |  | 589 |  |  | 14 |  |  | (48) |  |  | 2,224 |
Total | $ | 23,109 |  |  | $ | 39,461 |  |  | $ | 25,418 |  |  | $ | 126 |  |  | $ | (11,288) |  |  | $ | 76,826 |
Pharmacy Services distribution channel: |  |  |  |  |  |  |  |
Pharmacy network (1) |  |  | $ | 22,824 |  |  |  |  |  |  |  |  |
Mail choice (2) |  |  | 16,374 |  |  |  |  |  |  |  |  |
Other |  |  | 263 |  |  |  |  |  |  |  |  |
Total |  |  | $ | 39,461 |  |  |  |  |  |  |  |  |
Three Months Ended March 31, 2021 |  |  |  |  |  |  |  |
Major goods/services lines: |  |  |  |  |  |  |  |  |  |  |
Pharmacy | $ | — |  |  | $ | 36,141 |  |  | $ | 17,885 |  |  | $ | — |  |  | $ | (11,074) |  |  | $ | 42,952 |
Front Store | — |  |  | — |  |  | 4,642 |  |  | — |  |  | — |  |  | 4,642 |
Premiums | 18,942 |  |  | — |  |  | — |  |  | 18 |  |  | — |  |  | 18,960 |
Net investment income | 148 |  |  | — |  |  | 46 |  |  | 103 |  |  | — |  |  | 297 |
Other | 1,393 |  |  | 180 |  |  | 701 |  |  | 14 |  |  | (42) |  |  | 2,246 |
Total | $ | 20,483 |  |  | $ | 36,321 |  |  | $ | 23,274 |  |  | $ | 135 |  |  | $ | (11,116) |  |  | $ | 69,097 |
Pharmacy Services distribution channel: |  |  |  |  |  |  |  |
Pharmacy network (1) |  |  | $ | 21,893 |  |  |  |  |  |  |  |  |
Mail choice (2) |  |  | 14,248 |  |  |  |  |  |  |  |  |
Other |  |  | 180 |  |  |  |  |  |  |  |  |
Total |  |  | $ | 36,321 |  |  |  |  |  |  |  |  |
_____________________________________________ (1)Pharmacy Services pharmacy network is defined as claims filled at retail and specialty retail pharmacies, including the Company’s retail pharmacies and LTC pharmacies, but excluding Maintenance Choice® activity, which is included within the mail choice category. Maintenance Choice permits eligible client plan members to fill their maintenance prescriptions through mail order delivery or at a CVS pharmacy retail store for the same price as mail order. (2)Pharmacy Services mail choice is defined as claims filled at a Pharmacy Services mail order facility, which includes specialty mail claims inclusive of Specialty Connect® claims picked up at a retail pharmacy, as well as prescriptions filled at the Company’s retail pharmacies under the Maintenance Choice program.
Schedule of receivables and contract liabilities from contracts with customers | The following table provides information about receivables and contract liabilities from contracts with customers:
In millions | March 31, 2022 |  | December 31, 2021
Trade receivables (included in accounts receivable, net) | $ | 8,728 |  |  | $ | 7,932 |
Contract liabilities (included in accrued expenses) | 80 |  |  | 87 |
During the three months ended March 31, 2022 and 2021, the contract liabilities balance includes increases related to customers’ earnings in ExtraBucks Rewards or issuances of Company gift cards and decreases for revenues recognized during the period as a result of the redemption of ExtraBucks Rewards or Company gift cards and breakage of Company gift cards. Below is a summary of such changes:
| Three Months Ended March 31,
In millions | 2022 |  | 2021
Contract liabilities, beginning of the period | $ | 87 |  |  | $ | 71 |
Rewards earnings and gift card issuances | 80 |  |  | 93 |
Redemption and breakage | (87) |  |  | (84) |
Contract liabilities, end of the period | $ | 80 |  |  | $ | 80 |

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