CVS 2015 Annual Report Download - page 55

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53
2015 Annual Report
Consolidated Statements of Income
YEAR ENDED DECEMBER 31,
IN MILLIONS, EXCEPT PER SHARE AMOUNTS 2015 2014 2013
Net revenues
$ 153,290
$ 139,367 $ 126,761
Cost of revenues
126,762
114,000 102,978
Gross profit
26,528
25,367 23,783
Operating expenses
17,074
16,568 15,746
Operating profit
9,454
8,799 8,037
Interest expense, net
838
600 509
Loss on early extinguishment of debt
—
521 —
Income before income tax provision
8,616
7,678 7,528
Income tax provision
3,386
3,033 2,928
Income from continuing operations
5,230
4,645 4,600
Income (loss) from discontinued operations, net of tax
9
(1) (8)
Net income
5,239
4,644 4,592
Net income attributable to noncontrolling interest
(2)
— —
Net income attributable to CVS Health
$ 5,237
$ 4,644 $ 4,592
Basic earnings per share:
Income from continuing operations attributable to CVS Health
$ 4.65
$ 3.98 $ 3.78
Income (loss) from discontinued operations attributable to
CVS Health
$ 0.01
$ — $ (0.01)
Net income attributable to CVS Health
$ 4.66
$ 3.98 $ 3.77
Weighted average shares outstanding
1,118
1,161 1,217
Diluted earnings per share:
Income from continuing operations attributable to CVS Health
$ 4.62
$ 3.96 $ 3.75
Income (loss) from discontinued operations attributable to
CVS Health
$ 0.01
$ — $ (0.01)
Net income attributable to CVS Health
$ 4.63
$ 3.96 $ 3.74
Weighted average shares outstanding
1,126
1,169 1,226
Dividends declared per share
$ 1.40
$ 1.10 $ 0.90
See accompanying notes to consolidated financial statements.