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GuruFocus has detected 1 Warning Sign with CVS Health Corp $CVS.
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CVS Health Corp (NYSE:CVS)
Cash Flow from Financing
$-8,362 Mil (TTM As of Mar. 2017)

Cash from financing is the cash generated/spent from financial activities such as share issuance (buy back), debt issuance (repayment), and dividends paid to preferred and common stockholders.

For the three months ended in Mar. 2017, CVS Health Corp paid $3,621 Mil more to buy back shares than it received from issuing new shares. It spent $106 Mil paying down its debt. It paid $0 Mil more to buy back preferred shares than it received from issuing preferred shares. It spent $516 Mil paying cash dividends to shareholders. It received $110 Mil on other financial activities. In all, CVS Health Corp spent $4,133 Mil on financial activities for the three months ended in Mar. 2017.


Definition

This is the cash generated/spent from financial activities such as share issuance (buy back), debt issuance (repayment), and dividends paid to preferred and common stockholders. In the calculation of free cash flow, cash from financing is not calculated because it is not related to operating activities.

CVS Health Corp's Cash from Financing for the fiscal year that ended in Dec. 2016 is calculated as:

Cash from Financing(A: Dec. 2016 )
=Net Issuance of Stock+Net Issuance of Debt+Net Issuance of Preferred+Dividends+Other Financing
=-4461+-614+0+-1840+226
=-6,689

CVS Health Corp's Cash from Financing for the quarter that ended in Mar. 2017 is

Cash from Financing(Q: Mar. 2017 )
=Net Issuance of Stock+Net Issuance of Debt+Net Issuance of Preferred+Dividends+Other Financing
=-3621+-106+0+-516+110
=-4,133

CVS Health Corp Cash Flow from Financing for the trailing twelve months (TTM) ended in Mar. 2017 was -1666 (Jun. 2016 ) + -2442 (Sep. 2016 ) + -121 (Dec. 2016 ) + -4133 (Mar. 2017 ) = $-8,362 Mil.

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.


Explanation

Cash from financing contains five items:

1. Net Issuance of Stock:
A company may raise cash from issuing new shares. It can also use cash to buy back shares. If this number is positive, it means that the company has received more cash from issuing shares than it has paid to buy back shares. If this number is negative, it means that company has paid more cash to buy back shares than it has received for issuing shares.

CVS Health Corp's net issuance of stock for the three months ended in Mar. 2017 was $-3,621 Mil. CVS Health Corp paid $3,621 Mil more to buy back shares than it received from issuing new shares.

2. Net Issuance of Debt:
Net issuance of debt is the cash a company received or spent through debt related activities such as debt issuance or debt repayment. If a company pays down its debt during the period, this number will be negative. If a company issued more debt, it receives cash and this number is positive.

CVS Health Corp's net issuance of debt for the three months ended in Mar. 2017 was $-106 Mil. CVS Health Corp spent $106 Mil paying down its debt.

3. Net Issuance of Preferred:
A company may raise cash from issuing new preferred shares. It can also use cash to buy back preferred shares. If this number is positive, it means that the company has received more cash from issuing preferred shares than it has paid to buy back preferred shares. If this number is negative, it means that company has paid more cash to buy back preferred shares than it has received for issuing preferred shares.

CVS Health Corp's net issuance of preferred for the three months ended in Mar. 2017 was $0 Mil. CVS Health Corp paid $0 Mil more to buy back preferred shares than it received from issuing preferred shares.

4. Dividends:
Cash flow for dividends refers to the payment of cash to shareholders as dividends when the company generates income.

CVS Health Corp's cash flow for dividends for the three months ended in Mar. 2017 was $-516 Mil. CVS Health Corp spent $516 Mil paying cash dividends to shareholders.

5. Other Financing:
Money spent or earned by company from other financial activities.

CVS Health Corp's other financing for the three months ended in Mar. 2017 was $110 Mil. CVS Health Corp received $110 Mil on other financial activities.


Related Terms

Cash Flow from Operations, Cash Flow from Investing, Net Issuance of Stock, Net Issuance of Debt, Dividends, Net Issuance of Preferred


Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

CVS Health Corp Annual Data

Dec07Dec08Dec09Dec10Dec11Dec12Dec13Dec14Dec15Dec16
Net Issuance of Stock -4,818305-2,477-1,500-3,001-4,330-3,976-4,001-5,001-4,461
Net Issuance of Debt 5,421954-582-1,127-209-5393,274-93211,218-614
Net Issuance of Preferred 0000000000
Dividends -322-383-439-479-674-829-1,097-1,288-1,576-1,840
Other Financing 9853266308424838562527365226
Cash from Financing 378929-3,232-2,798-3,460-4,860-1,237-5,6945,006-6,689

CVS Health Corp Quarterly Data

Dec14Mar15Jun15Sep15Dec15Mar16Jun16Sep16Dec16Mar17
Net Issuance of Stock -1,200-2,007-927-937-1,130-2,066-1,894-40-461-3,621
Net Issuance of Debt -104-18543810,972-70621-2,011776-106
Net Issuance of Preferred 0000000000
Dividends -317-399-395-391-391-470-459-455-456-516
Other Financing 6018512399-4276666420110
Cash from Financing -1,561-2,406-7619,743-1,570-2,460-1,666-2,442-121-4,133
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