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Significant Accounting Policies (Tables) | 3 Months Ended
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Mar. 31, 2024
Accounting Policies [Abstract] |
Schedule of 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, 2024 |  | December 31, 2023 |  |
Cash and cash equivalents | $ | 9,801 |  |  | $ | 8,196 |  |  |
Restricted cash (included in other current assets) | 51 |  |  | 90 |  |  |
Restricted cash (included in other assets) | 255 |  |  | 239 |  |  |
Total cash, cash equivalents and restricted cash in the statements of cash flows | $ | 10,107 |  |  | $ | 8,525 |  |  |
Schedule of accounts receivable, net | Accounts receivable, net at March 31, 2024 and December 31, 2023 was composed of the following:
In millions | March 31, 2024 |  | December 31, 2023
Trade receivables | $ | 10,586 |  |  | $ | 11,908 |
Vendor and manufacturer receivables | 12,681 |  |  | 15,711 |
Premium receivables | 5,420 |  |  | 3,714 |
Other receivables | 3,530 |  |  | 3,894 |
Total accounts receivable, net | $ | 32,217 |  |  | $ | 35,227 |
Roll forward of deferred acquisition costs | The following is a roll forward of deferred acquisition costs for the three months ended March 31, 2024 and 2023:
|  |  | Three Months Ended March 31,
In millions |  |  |  |  | 2024 |  | 2023
Deferred acquisition costs, beginning of the period |  |  |  |  | $ | 1,502 |  | $ | 1,219
Capitalizations |  |  |  |  | 134 |  | 135
Amortization expense |  |  |  |  | (76) |  | (64)
Deferred acquisition costs, end of the period |  |  |  |  | $ | 1,560 |  | $ | 1,290
Schedule of disaggregation of revenue | The following table disaggregates the Company’s revenue by major source in each segment for the three months ended March 31, 2024 and 2023:
In millions | Health Care Benefits |  | Health Services |  | Pharmacy & Consumer Wellness |  | Corporate/ Other |  | Intersegment Eliminations |  | Consolidated Totals
Three Months Ended March 31, 2024 |  |  |  |  |  |  |  |
Major goods/services lines: |  |  |  |  |  |  |  |  |  |  |
Pharmacy | $ | — |  |  | $ | 37,726 |  |  | $ | 22,784 |  |  | $ | — |  |  | $ | (12,113) |  |  | $ | 48,397 |
Front Store | — |  |  | — |  |  | 5,370 |  |  | — |  |  | — |  |  | 5,370 |
Premiums | 30,379 |  |  | — |  |  | — |  |  | 12 |  |  | — |  |  | 30,391 |
Net investment income | 353 |  |  | — |  |  | — |  |  | 101 |  |  | — |  |  | 454 |
Other | 1,504 |  |  | 2,559 |  |  | 571 |  |  | 2 |  |  | (811) |  |  | 3,825 |
Total | $ | 32,236 |  |  | $ | 40,285 |  |  | $ | 28,725 |  |  | $ | 115 |  |  | $ | (12,924) |  |  | $ | 88,437 |
Health Services distribution channel: |  |  |  |  |  |  |  |
Pharmacy network (1) |  |  | $ | 20,464 |  |  |  |  |  |  |  |  |
Mail & specialty (2) |  |  | 17,262 |  |  |  |  |  |  |  |  |
Other |  |  | 2,559 |  |  |  |  |  |  |  |  |
Total |  |  | $ | 40,285 |  |  |  |  |  |  |  |  |
Three Months Ended March 31, 2023 |  |  |  |  |  |  |  |
Major goods/services lines: |  |  |  |  |  |  |  |  |  |  |
Pharmacy | $ | — |  |  | $ | 43,737 |  |  | $ | 21,780 |  |  | $ | — |  |  | $ | (12,732) |  |  | $ | 52,785 |
Front Store | — |  |  | — |  |  | 5,597 |  |  | — |  |  | — |  |  | 5,597 |
Premiums | 24,339 |  |  | — |  |  | — |  |  | 13 |  |  | — |  |  | 24,352 |
Net investment income (loss) | 164 |  |  | — |  |  | (3) |  |  | 173 |  |  | — |  |  | 334 |
Other | 1,374 |  |  | 854 |  |  | 548 |  |  | 2 |  |  | (568) |  |  | 2,210 |
Total | $ | 25,877 |  |  | $ | 44,591 |  |  | $ | 27,922 |  |  | $ | 188 |  |  | $ | (13,300) |  |  | $ | 85,278 |
Health Services distribution channel: |  |  |  |  |  |  |  |
Pharmacy network (1) |  |  | $ | 27,592 |  |  |  |  |  |  |  |  |
Mail & specialty (2) |  |  | 16,145 |  |  |  |  |  |  |  |  |
Other |  |  | 854 |  |  |  |  |  |  |  |  |
Total |  |  | $ | 44,591 |  |  |  |  |  |  |  |  |
_____________________________________________ (1)Health Services pharmacy network is defined as claims filled at retail and specialty retail pharmacies, including the Company’s retail pharmacies and LTC pharmacies, as well as activity associated with Maintenance Choice®, which 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)Health Services mail & specialty is defined as specialty mail claims inclusive of Specialty Connect® claims picked up at a retail pharmacy, as well as mail order and specialty claims fulfilled by the Pharmacy & Consumer Wellness segment.
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, 2024 |  | December 31, 2023
Trade receivables (included in accounts receivable, net) | $ | 10,586 |  |  | $ | 11,908 |
Contract liabilities (included in accrued expenses) | 117 |  |  | 149 |

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