10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CIGNA CORP | |||
Ticker: CI Fiscal Year: 2012 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2012 10-K (Filed: Feb 28, 2013) | |||
| (In Dollars) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2012 | Dec 31, 2011 | Dec 31, 2010 | |
| Revenues | |||
| Premiums and fees | $ 26,187,000,000 | 18,966,000,000 | 18,274,000,000 |
| Net investment income | 1,144,000,000 | 1,146,000,000 | 1,105,000,000 |
| Mail order pharmacy revenues | 1,623,000,000 | 1,447,000,000 | 1,420,000,000 |
| Other revenues | 121,000,000 | 244,000,000 | 254,000,000 |
| Realized investment gains (losses): | |||
| Other-than-temporary impairments on fixed maturities, net | (11,000,000) | (26,000,000) | (1,000,000) |
| Other realized investment gains | 55,000,000 | 88,000,000 | 76,000,000 |
| Total realized investment gains (losses) | 44,000,000 | 62,000,000 | 75,000,000 |
| Total revenues | 29,119,000,000 | 21,865,000,000 | 21,128,000,000 |
| Benefits and Expenses | |||
| Health Care medical claims expense | 14,228,000,000 | 9,125,000,000 | 9,222,000,000 |
| Other benefit expenses | 3,672,000,000 | 3,365,000,000 | 3,011,000,000 |
| Mail order pharmacy cost of goods sold | 1,328,000,000 | 1,203,000,000 | 1,169,000,000 |
| GMIB fair value (gain) loss | (41,000,000) | 234,000,000 | 55,000,000 |
| Other operating expenses | 7,455,000,000 | 6,062,000,000 | 5,869,000,000 |
| Total benefits and expenses | 26,642,000,000 | 19,989,000,000 | 19,326,000,000 |
| Income from Continuing Operations before Income Taxes | 2,477,000,000 | 1,876,000,000 | 1,802,000,000 |
| Income taxes: | |||
| Current | 719,000,000 | 398,000,000 | 331,000,000 |
| Deferred | 134,000,000 | 217,000,000 | 188,000,000 |
| Total taxes | 853,000,000 | 615,000,000 | 519,000,000 |
| Income (loss) from discontinued operations, net of taxes | 0 | 0 | 0 |
| Net Income | 1,624,000,000 | 1,261,000,000 | 1,283,000,000 |
| Less: Net Income Attributable to Redeemable Noncontrolling Interest | 1,000,000 | 0 | 0 |
| Less: Net Income Attributable to Other Noncontrolling Interest | 0 | 1,000,000 | 4,000,000 |
| Shareholders' Net Income | 1,623,000,000 | 1,260,000,000 | 1,279,000,000 |
| Basic Earnings Per Share: | |||
| Shareholders' net income | 6 | 5 | 5 |
| Diluted Earnings Per Share: | |||
| Shareholders' net income | 6 | 5 | 5 |
| Dividends Declared Per Share | 0 | 0 | 0 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CIGNA CORP | |||
Ticker: CI Fiscal Year: 2012 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2012 10-K (Filed: Feb 28, 2013) | |||
| (In Dollars) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2012 | Dec 31, 2011 | Dec 31, 2010 | |
| Shareholders' Net Income | $ 1,623,000,000 | 1,260,000,000 | 1,279,000,000 |
| Shareholders' other comprehensive Income (Loss): | |||
| Net unrealized appreciation (deprecation) on securities: | |||
| Net unrealized appreciation (depreciation), fixed maturities | 144,000,000 | 210,000,000 | 151,000,000 |
| Net unrealized appreciation (depreciation), equity securities | 3,000,000 | (2,000,000) | (1,000,000) |
| Net unrealized appreciation (depreciation) on securities | 147,000,000 | 208,000,000 | 150,000,000 |
| Net unrealized appreciation (depreciation), derivatives | (5,000,000) | 1,000,000 | 6,000,000 |
| Net translation of foreign currencies | 66,000,000 | (22,000,000) | 33,000,000 |
| Postretirement benefits liability adjustment | (92,000,000) | (360,000,000) | (189,000,000) |
| Shareholders' other comprehensive income (loss) | 116,000,000 | (173,000,000) | 0 |
| Shareholders' comprehensive income | 1,739,000,000 | 1,087,000,000 | 1,279,000,000 |
| Comprehensive income attributable to noncontrolling interest: | |||
| Net income attributable to redeemable noncontrolling interest | 1,000,000 | 0 | 0 |
| Net income attributable to other noncontrolling interest | 0 | 1,000,000 | 4,000,000 |
| Other comprehensive income attributable to redeemable noncontrolling interest | 2,000,000 | 0 | 0 |
| Other comprehensive income attributable to other noncontrolling interest | 0 | 0 | 2,000,000 |
| Total comprehensive income | 1,742,000,000 | 1,088,000,000 | 1,285,000,000 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CIGNA CORP | |||
Ticker: CI Fiscal Year: 2012 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2012 10-K (Filed: Feb 28, 2013) | |||
| (In Dollars) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2012 | Dec 31, 2011 | Dec 31, 2010 | |
| Cash Flows from Operating Activities | |||
| Net Income | $ 1,624,000,000 | 1,261,000,000 | 1,283,000,000 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 560,000,000 | 345,000,000 | 292,000,000 |
| Realized investment (gains) losses | (44,000,000) | (62,000,000) | (75,000,000) |
| Deferred income taxes | 134,000,000 | 217,000,000 | 188,000,000 |
| Gains on sale of businesses (excluding discontinued operations) | (18,000,000) | (25,000,000) | (13,000,000) |
| (Income) from discontinued operations | 0 | 0 | 0 |
| Net changes in assets and liabilities, net of non-operating effects: | |||
| Premiums, accounts and notes receivable | (71,000,000) | (50,000,000) | 62,000,000 |
| Reinsurance recoverables | 62,000,000 | 19,000,000 | 37,000,000 |
| Deferred policy acquisition costs | (159,000,000) | (129,000,000) | (94,000,000) |
| Other assets | 31,000,000 | (307,000,000) | 3,000,000 |
| Insurance liabilities | 245,000,000 | 154,000,000 | 325,000,000 |
| Accounts payable, accrued expenses and other liabilities | (132,000,000) | 344,000,000 | (272,000,000) |
| Current income taxes | 29,000,000 | (246,000,000) | 2,000,000 |
| Proceeds from sales of mortgage loans held for sale | 61,000,000 | 0 | 0 |
| Other, net | 28,000,000 | (30,000,000) | 5,000,000 |
| Net cash provided by operating activities | 2,350,000,000 | 1,491,000,000 | 1,743,000,000 |
| Cash Flows from Investing Activities | |||
| Proceeds from investments sold: | |||
| Fixed maturities | 583,000,000 | 830,000,000 | 822,000,000 |
| Equity securities | 8,000,000 | 46,000,000 | 4,000,000 |
| Commercial mortgage loans | 380,000,000 | 253,000,000 | 63,000,000 |
| Other (primarily short-term and other long-term investments) | 831,000,000 | 1,915,000,000 | 1,102,000,000 |
| Investment maturities and repayments: | |||
| Fixed maturities | 1,507,000,000 | 1,265,000,000 | 1,084,000,000 |
| Commercial mortgage loans | 342,000,000 | 385,000,000 | 70,000,000 |
| Investments purchased: | |||
| Fixed maturities | (2,326,000,000) | (2,877,000,000) | (2,587,000,000) |
| Equity securities | (8,000,000) | (20,000,000) | (12,000,000) |
| Commercial mortgage loans | (364,000,000) | (487,000,000) | (239,000,000) |
| Other (primarily short-term and other long-term investments) | (821,000,000) | (2,056,000,000) | (810,000,000) |
| Property and equipment purchases | (408,000,000) | (422,000,000) | (300,000,000) |
| Acquisitions and dispositions, net of cash acquired | (3,581,000,000) | (102,000,000) | (539,000,000) |
| Net cash used in investing activities | (3,857,000,000) | (1,270,000,000) | (1,342,000,000) |
| Cash Flows from Financing Activities | |||
| Deposits and interest credited to contractholder deposit funds | 1,337,000,000 | 1,323,000,000 | 1,295,000,000 |
| Withdrawals and benefit payments from contractholder deposit funds | (1,264,000,000) | (1,178,000,000) | (1,205,000,000) |
| Change in cash overdraft position | 25,000,000 | (1,000,000) | 59,000,000 |
| Net change in short-term debt | 98,000,000 | 0 | 0 |
| Net proceeds on issuance of long-term debt | 0 | 2,676,000,000 | 543,000,000 |
| Repayment of long-term debt | (326,000,000) | (451,000,000) | (270,000,000) |
| Repurchase of common stock | (208,000,000) | (225,000,000) | (201,000,000) |
| Issuance of common stock | 121,000,000 | 734,000,000 | 64,000,000 |
| Common dividends paid | (11,000,000) | (11,000,000) | (11,000,000) |
| Net cash provided by financing activities | (228,000,000) | 2,867,000,000 | 274,000,000 |
| Effect of foreign currency rate changes on cash and cash equivalents | 23,000,000 | (3,000,000) | 6,000,000 |
| Net increase (decrease) in cash and cash equivalents | (1,712,000,000) | 3,085,000,000 | 681,000,000 |
| Cash and cash equivalents, beginning of year | 4,690,000,000 | 1,605,000,000 | |
| Cash and cash equivalents, end of year | 2,978,000,000 | 4,690,000,000 | 1,605,000,000 |
| Supplemental Disclosure of Cash Information: | |||
| Income taxes paid, net of refunds | 655,000,000 | 633,000,000 | 326,000,000 |
| Interest paid | 248,000,000 | 185,000,000 | 180,000,000 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
CIGNA CORP | ||
Ticker: CI Fiscal Year: 2012 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2012 10-K (Filed: Feb 28, 2013) | ||
| (In Dollars) | ||
| As of | As of | |
| Dec 31, 2012 | Dec 31, 2011 | |
| Assets | ||
| Investments [Abstract] | ||
| Fixed maturities, at fair value (amortized cost, $15,481; $14,257) | $ 17,705,000,000 | 16,217,000,000 [1] |
| Equity securities, at fair value (cost, $121; $124) | 111,000,000 | 100,000,000 |
| Commercial Mortgage Loans | 2,851,000,000 | 3,301,000,000 |
| Policy loans | 1,501,000,000 | 1,502,000,000 |
| Real estate | 83,000,000 | 87,000,000 |
| Other long-term investments | 1,255,000,000 | 1,058,000,000 |
| Short-term investments | 154,000,000 | 225,000,000 |
| Total investments | 23,660,000,000 | 22,490,000,000 |
| Cash and cash equivalents | 2,978,000,000 | 4,690,000,000 |
| Accrued investment income | 258,000,000 | 252,000,000 |
| Premiums, accounts and notes receivable, net | 1,777,000,000 | 1,358,000,000 |
| Reinsurance recoverables | 6,256,000,000 | 6,256,000,000 |
| Deferred policy acquisition costs | 1,198,000,000 | 817,000,000 |
| Property and equipment | 1,120,000,000 | 1,024,000,000 |
| Deferred income taxes, net | 374,000,000 | 803,000,000 |
| Goodwill | 6,001,000,000 | 3,164,000,000 |
| Other assets, including other intangibles | 2,355,000,000 | 1,750,000,000 |
| Separate account assets | 7,757,000,000 | 8,093,000,000 |
| Total assets | 53,734,000,000 | 50,697,000,000 |
| Liabilities | ||
| Contractholder deposit funds | 8,508,000,000 | 8,553,000,000 |
| Future policy benefits | 9,265,000,000 | 8,593,000,000 |
| Unpaid claims and claim expenses | 4,062,000,000 | 3,936,000,000 |
| Health Care medical claims payable | 1,856,000,000 | 1,305,000,000 |
| Unearned premiums and fees | 549,000,000 | 502,000,000 |
| Total insurance and contractholder liabilities | 24,240,000,000 | 22,889,000,000 |
| Accounts payable, accrued expenses and other liabilities | 6,667,000,000 | 6,627,000,000 |
| Short-term debt | 201,000,000 | 104,000,000 |
| Long-term debt | 4,986,000,000 | 4,990,000,000 |
| Separate account liabilities | 7,757,000,000 | 8,093,000,000 |
| Total liabilities | 43,851,000,000 | 42,703,000,000 |
| Contingencies - Note 24 | 0 | 0 |
| Redeemable noncontrolling interest | 114,000,000 | 0 |
| Shareholders' Equity | ||
| Common stock (par value per share, $0.25; shares issued,366; authorized, 600) | 92,000,000 | 92,000,000 |
| Additional paid-in capital | 3,295,000,000 | 3,188,000,000 |
| Net unrealized appreciation, fixed maturities | 883,000,000 | 739,000,000 |
| Net unrealized appreciation, equity securities | 4,000,000 | 1,000,000 |
| Net unrealized depreciation, derivatives | (28,000,000) | (23,000,000) |
| Net translation of foreign currencies | 69,000,000 | 3,000,000 |
| Postretirement benefits liability adjustment | (1,599,000,000) | (1,507,000,000) |
| Accumulated other comprehensive loss | (671,000,000) | (787,000,000) |
| Retained earnings | 12,330,000,000 | 10,787,000,000 |
| Less treasury stock, at cost | (5,277,000,000) | (5,286,000,000) |
| Total shareholders' equity | 9,769,000,000 | 7,994,000,000 |
| Total liabilities and equity | 53,734,000,000 | 50,697,000,000 |
| Shareholders' Equity Per Share | 34 | 28 |
| [1] Fixed maturities included $826 million of net appreciation required to adjust future policy benefits for the run-off settlement annuity business including $115 million of appreciation for securities classified in Level 3. | ||
| External Links | |
| CIGNA CORP (CI) Fiscal Year 2012 | |
| Statements of 10-K in Excel | https://www.sec.gov/.../Financial.xlxs |
| Complete 10-K in HTML | https://www.sec.gov/.../10-K.html |
| Complete 10-K in XBRL | https://www.sec.gov/.../10-K-xbrl.zip |