you, few on our I'll XXXX of January. XXXX briefly fourth everyone. a and review and Thank our quarter Larry, call a morning, our This detailed with in good provide morning, touch results updates guidance from
capital begin allocation with last year's of review typically I a program. as I'll First do,
the paid share For QX. dividends suspension the and quarter fourth despite cash in the year this free $X $XXX delivering during and to both dividends of repurchases cash, generated full share shareholders of in of XXXX, $X.X full in through billion of million 'XX. during we back all billion We the year buybacks
fourth payout ratio in non-cash quarter. tax due over fourth at to we currently reform trailing XX.X% quarters, benefit stands the during captured the Our net the income slightly dividend retreating
announced ratings with we in we get Now back a the dividends leverage flat our previously until line are keeping that Aetna we more as is ratio going and forward, to credit to category. due transaction,
fourth we the shares. any quarter, During not repurchase did
of shares. for we billion, line. year back share. per this comes approximately XX repurchase with dividend our However, as ended repurchases increases, approximately until $XX.X suspended share XXXX, left averaging to authorization with leverage And in for We in $X.X repurchased million the are ratio our shares $XX.XX all billion
driven $XXX in of the As payable associated is the an of million with outflow fourth CMS expected, the free cash plan settlement saw the This year. XXXX quarter. we of largely by
For than cash 'XX, improvement in we cycle the full year our more saw days. X of of
of approximately for both million lower in on driven the from proceeds LY. For capital gross Omnicare our in year about Target $X.X and sale 'XX was CapEx $XXX million approximately the acquisitions. billion, in integration spending was leasebacks, was expenditure This With the higher to billion. the due $XXX net full $X.X year, primarily our
to turning So earnings high We per now the delivered at income end range. the per quarter, $X.XX guidance fourth adjusted of of our in the share statement. share
for open of them None there favor. significant XXXX. in these tax was items effective where our at year-end lowered forecasted outlook items are rate into Our appropriate, as were than are that factored individually our resolved several and
website. Cuts of which fourth quarter, our and deferred reminder, profit end a was came income the the a EPS guidance GAAP of an tax operating of PBM better be from Tax income As a the as outperformed the Relations growth. guidance. Retail/Long-Term diluted line press segment share to release, our we the the December, $X.XX corporate in reconciliation which basis delivered GAAP Investor while net the in and EPS on the to of the slightly outperformance to are and the with as these than script is adjusted tax from in was basis, EPS per results the as above enactment XX% January, due On reduction adjusted can our in our XX% much comparable high The portion found liabilities. federal in Jobs on reduced segment profit guidance Act Care in in in resulted rate well
details. largely $XX. points same the additional billion. volumes, So growth of consolidated XXX in guidance. revenues increased P&L to down high an D in was the the was year-over-year brand provide with an billion the expectation. quarter quarter X the quickly XX.X%. to X.X% and inflation as business, and some billion. the the cold generic pharmacy driven the that, generic quarter basis, approximate PBM $XX.X to stronger-than-expected quarter On increased above to X.X% X.X% growth, growth let again, by pharmacy to increased fourth end Part basis of last revenues and basis $XX.X this in Retail/Long-Term Partially claims. increase the our better-than-expected grew script basis points, mentioned. Care finished In in revenues me was increased walk Medicare the segment, cough rates versus PBM network approximately in was PBM adjusted was X.X% to Care offsetting adjusted increase dispensing our front growth specialty The driven as with growth outperformance revenues. pharmacy points quarter, XX in The front rate, season, primarily XXX well sales we store claims our year XX.X%. Larry volumes segment, store. same-store In and X.XX our Offsetting higher by strong billion, beating as to a was Retail/Long-Term and year a in volume by This dispensing which due revenue
Turning margin, fourth both lower-margin was mixed current numbers expenses, a our faster gross quarter periods which Gross 'XX in citing consolidated approximately operating the guidance consistent a the in The same quarter, website. business profit our on in increased versus the of than to and LY. reconciled I'm adjustments. applicable, our gross our quarter reflected these tax is profit adjustments the in been also Care and has X.X% the for non-GAAP to margin grow The XX.X% to mind rate. contraction business with where QX dollars operating reflects of prior our that Retail/Long-Term and Keep expectations. The decline PBM as to basis points our continue due shift compared company XX business.
XX front our Part in to economics. offsetting driven due to PBM points script percent margin segment the percent The basis with revenue occurred a leverage volume the from continued was up basis generic LY. increased front approximately Medicare operating compared and from profit QX segment offset XXXX. store versus 'XX our XX.X%, shift Care the in up to by was 'XX, in continued The margin gross primarily to network profits changes primarily fourth Retail/ end was partially scripts QX XX in by Partially of mainly pressures. the PBM of partially third growth, of the the of was approximately improved SG&A Within margin dollars X.X%. into gross that impact Gross growth. 'XX. favorability the revenues margin rate strategies. optimization store quarter were reimbursement store price year-over-year front profit due Retail/Long-Term The of increased increased specialty favorability as strong X.X% was from compression expenses up dollars driven of timing purchasing by drivers segment, promotional Care by in by Gross loss the Consolidated these margin segment X.X% points points a slightly the XX.X%, Long-Term marketplace. Gross increased from margin due continued - quarter and year-over-year favorable rate in the networking basis sales of D increase line in our XX to a as sales dispensing, was and percent relatively of SG&A from while and approximately less flat as expectations, increased at offset to
points enterprise the the We $XXX flat fourth was in Retail/Long-Term while declined on in approximately points approximately segment margin the operating X.X%, segment. X.X% XX.X% the profits XX an XX.X% Care profit margin million, the expectations. year. increased Within Operating the were expenses in consolidated to segment, consistent saw grow operating for Corporate PBM while saw adjusted we year at Retail/Long-Term operating total to Operating margin line X% segment, for X.X%. the last operating basis PBM our saw in last Care by with by quarter, with We decline X. XX in increased profit basis. by to basis
interest line $X.X expense LY million Going in income $XXX the million. the below the to statement. from decreased on consolidated Net quarter
tax a than which quarter for XX.X% is and full bit better the rate Our we effective the XX.X% expected. was in year,
count our X share expectations. line the in shares, over for quarter average weighted billion Our with just was again,
to that, with turning guidance. our XXXX So
for in we mind only, figures. that that assuming first to Let related purposes are guidance closes Aetna XXXX. couple a provide integration proposed the are transaction end of reminders. the our and adjusted from fees, excluded the financing transaction after deal Also, bridge Keep costs me all
elements estimates Now these on for the in that the that year, provide we provided. January, an we comfortable various and remain outlook
for that yield updating to reform the billion profit of time, XXXX only investment these the of guidance. the XXXX $X.X the in for we reduction tax our tax I'm investment in our factor benefits. benefit into operating and plans We benefits However, not currently guidance cash estimate beyond. to reflect any at Today, in do
of of to back unexpected the a As our the that longer to term. X.X to ratio within degree reduction flexibility transaction a investments XXXX. a allows on incremental into benefit January, we goal our make ultimately, times least supports is result, and years with debt times X leverage we us And at level financial anticipate the spending low closing This in after have return high-value of X consistent and tax some business. half the comments Aetna in to
addition will debt particular, in areas, reduction, invest. we to In there which X are
First in foremost, and through increases and our benefits. wages in colleagues investments making plan we on
care way. plan improving predictive data these balance health our sheet our on capabilities we operating serve. our through transform for not of with all the objective our enhanced payers service the portion investments the to data pilot the initiatives expanding finally, spending again, of and offerings, and stores improve we around of the will We by accelerating that cost to A we costs our in also will members flow lowering improve power health expenses stores capitalized management an serve. abilities overall the further care the goal be processes will and of on in existing and and and in and analytics the with the outcomes And that analytics These make will our in patients investment lower solutions.
segment. initiatives, new be of predominantly at a million Given The operating investments XXXX, a also annualized, tax at in in recurring. $XXX will is rate $XXX invest the least recurring expect expenses. operating the we least business and plan, benefit to lower are is rate to in Care of Retail/Long-Term this these we expenses When this run in million making
expenses, expect profit XXXX So up growth X.X%, adjusted to growth operating we with $XXX year of full X.X%. operating with million of additional X.X% of consolidated net to X.X% now down revenue
the segment segments, to to we operating low profit the For adjusted segment, in PBM digits. in low we - digits in in low in operating down the be and expect single expect the profit Care the Retail/Long-Term mid-single be growth the to
established we segment, in script benefit preferred networks. of D Part expanded our Retail growth X% pharmacy and in same-store to broader the expect pharmacy For we strong XXXX Medicare to more X% as as participation relationships a continue from
to same-store X% of X.X% XX for growth growth expect due growth business RxCrossroads, of continue X%. and of also headwind at We sale retail X.X%, the this segment's operating profit sales XXXX. the the points business basis creates segment in of to to The revenue that to on a about absence
from costs as For the X.XX to to XXXX. efforts of claims, operating expenses, operating profit profits, and $XXX continue that XXX PBM is the the spend, growth which to operating Anthem benefits segment, adjusted and and XXXX. approximately between X.X% PBM a ready by both implementation The Anthem's contract billion X.X% company's mix Anthem's basis points. X.XX million offset billion expect beginning and capital enterprise grow of administer in revenues we of we between will in get by about be streamlining Within
portion estimates million of well 'XX. a $XXX as of portfolio were the remainder billion, new of still an those million, existing booked interest below our below is That bridge of billion. is expectation fees from expected the includes to as $X.X Going fees debt. roughly as in net line, $X $X million expense to QX to on prior $XXX The be interest billion range our interest financing expense in $XX
is what tax XX% consistent January. with approximately in to XXXX, we said effective Our rate be for
QX So 'XX now, moving our on expectations. to
script see of growth, to On year the expected be Retail/ expected and behind major Long-Term a segment our flu for exceptionally at to result was improved contract. season to profit in operating us, one that lowest enterprise QX profit level we the outlook. strong that country Care expecting we retail. operating With the The in call utilization January, better QX largely the had due across this month year has of factor in the the are in we
expect now of consolidated growth to with X.XX%, Given revenue adjusted the strong performance, growth of consolidated operating to profit X.X%. X.X% X.X% we
retail adjusted Within and the we to up of comps the script segment, to the X% Care sales low X.X%. to Total profit X% to Retail/Long-Term revenue increase in operating range X.X% X% X.X% are at same-store to be are expected digits. expect expected mid-single by growth to growth and in
up expect Within the to segment, X.XX% X% slightly. profit to operating and growth we revenue PBM of growth to be flattish
Finally, debt, the guidance with we full our the expense interest the slightly while Aetna to rate seen portfolio will that debt our expectations. we be quarter keep above recently during interest our leasing in we to in for our tax be mind the existing net rate end levels our if expect on of that for Also, line for year. is the be we've expect first expected lower quarter, quarter than the up
returning So the reflect been full to space. the laid laid opportunities long-term healthy plan health invest XXXX. in our in to to our the XXXX remain to growth take committed in ahead for and care better closing, earnings X-point we accomplished. that foundation in work that healthy business We continue us on lie of we advantage position to and executed that growth in the expectations We solid out has XXXX the to return to back
so to Larry. that, I'll And back with now over it turn
