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 GROUP | |||
Ticker: CI Fiscal Year: 2021 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 24, 2022) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
| Revenues | |||
| Premiums | $ 41,154 | 42,627 | 39,714 |
| Net investment income | 1,549 | 1,244 | 1,390 |
| TOTAL REVENUES | 174,078 | 160,401 | 153,566 |
| Benefits and expenses | |||
| Pharmacy and other service costs | 117,553 | 103,484 | 97,668 |
| Medical costs and other benefit expenses | 33,562 | 32,710 | 30,819 |
| Selling, general and administrative expenses | 13,030 | 14,072 | 14,053 |
| Amortization of acquired intangible assets | 1,998 | 1,982 | 2,949 |
| TOTAL BENEFITS AND EXPENSES | 166,143 | 152,248 | 145,489 |
| Income from operations | 7,935 | 8,153 | 8,077 |
| Interest expense and other | (1,208) | (1,438) | (1,682) |
| Debt extinguishment costs | (141) | (199) | (2) |
| Gain (loss) on sale of business | 0 | 4,203 | 0 |
| Net realized investment gains (losses) | 196 | 149 | 177 |
| Income before income taxes | 6,782 | 10,868 | 6,570 |
| TOTAL INCOME TAXES | 1,367 | 2,379 | 1,450 |
| Net income | 5,415 | 8,489 | 5,120 |
| Less: Net income attributable to noncontrolling interests | 50 | 31 | 16 |
| SHAREHOLDERS' NET INCOME | 5,365 | 8,458 | 5,104 |
| Shareholders' net income per share | |||
| Basic (in dollars per share) | 15.87 | 23.17 | 13.58 |
| Diluted (in dollars per share) | 15.73 | 22.96 | 13.44 |
| Product and Service | |||
| Pharmacy revenues | |||
| Revenues | 121,413 | 107,769 | 103,099 |
| Fees and other revenues | |||
| Revenues | 9,962 | 8,761 | 9,363 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CIGNA GROUP | |||
Ticker: CI Fiscal Year: 2021 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 24, 2022) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
| Net income | $ 5,415 | 8,489 | 5,120 |
| Other comprehensive income (loss), net of tax | |||
| Net unrealized appreciation (depreciation) on securities and derivatives | (215) | (75) | 957 |
| Net translation gains (losses) on foreign currencies | (232) | 252 | (59) |
| Postretirement benefits liability adjustment | 410 | (105) | (133) |
| Other comprehensive income (loss), net of tax | (37) | 72 | 765 |
| Total comprehensive income | 5,378 | 8,561 | 5,885 |
| Comprehensive income (loss) attributable to noncontrolling interests | |||
| Net income attributable to redeemable noncontrolling interests | 19 | 14 | 11 |
| Net income attributable to other noncontrolling interests | 31 | 17 | 5 |
| Other comprehensive (loss) attributable to redeemable noncontrolling interests | (14) | (8) | (5) |
| Total comprehensive income attributable to noncontrolling interests | 36 | 23 | 11 |
| SHAREHOLDERS' COMPREHENSIVE INCOME | 5,342 | 8,538 | 5,874 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CIGNA GROUP | |||
Ticker: CI Fiscal Year: 2021 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 24, 2022) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
| Cash Flows from Operating Activities | |||
| Net income | $ 5,415 | 8,489 | 5,120 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 2,923 | 2,802 | 3,651 |
| Realized investment (gains) losses, net | (196) | (149) | (177) |
| Deferred income tax (benefit) | (220) | (386) | (313) |
| Gain on sale of business | 0 | (4,203) | 0 |
| Debt extinguishment costs | 141 | 199 | 2 |
| Net changes in assets and liabilities, net of non-operating effects: | |||
| Accounts receivable | (2,843) | (1,496) | (713) |
| Inventories | (557) | (504) | 149 |
| Deferred policy acquisition costs | (267) | (307) | (242) |
| Reinsurance recoverable and Other assets | (389) | 230 | (277) |
| Insurance liabilities | 967 | 841 | 575 |
| Pharmacy and other service costs payable | 1,961 | 2,891 | (192) |
| Accounts payable and Accrued expenses and other liabilities | (77) | 1,346 | 1,343 |
| Other, net | 333 | 597 | 559 |
| NET CASH PROVIDED BY OPERATING ACTIVITIES | 7,191 | 10,350 | 9,485 |
| Cash Flows from Investing Activities | |||
| Proceeds from investments sold: | |||
| Debt securities and equity securities | 2,030 | 2,283 | 3,487 |
| Investment maturities and repayments: | |||
| Debt securities and equity securities | 1,628 | 1,519 | 1,825 |
| Commercial mortgage loans | 180 | 19 | 199 |
| Other sales, maturities and repayments (primarily short-term and other long-term investments) | 1,936 | 1,575 | 1,311 |
| Investments purchased or originated: | |||
| Debt securities and equity securities | (3,553) | (4,765) | (4,282) |
| Commercial mortgage loans | (327) | (113) | (307) |
| Other (primarily short-term and other long-term investments) | (2,554) | (1,924) | (1,753) |
| Property and equipment purchases, net | (1,154) | (1,094) | (1,050) |
| Acquisitions, net of cash acquired | (1,833) | (139) | (153) |
| Divestiture, net of cash sold | (61) | 5,592 | 0 |
| Other, net | 97 | 23 | (11) |
| NET CASH (USED IN) PROVIDED BY INVESTING ACTIVITIES | (3,611) | 2,976 | (734) |
| Cash Flows from Financing Activities | |||
| Deposits and interest credited to contractholder deposit funds | 153 | 1,023 | 955 |
| Withdrawals and benefit payments from contractholder deposit funds | (168) | (979) | (1,097) |
| Net change in short-term debt | 975 | 60 | (681) |
| Net proceeds on issuance of term loan | 0 | 1,398 | 0 |
| Repayment of term loan | 0 | (1,400) | 0 |
| Payments for debt extinguishment | (136) | (212) | (3) |
| Repayment of long-term debt | (4,578) | (8,047) | (4,491) |
| Net proceeds on issuance of long-term debt | 4,260 | 3,465 | 0 |
| Repurchase of common stock | (7,742) | (4,042) | (1,987) |
| Issuance of common stock | 326 | 376 | 224 |
| Common stock dividend paid | (1,341) | (15) | (15) |
| Other, net | 39 | (160) | (92) |
| NET CASH (USED IN) FINANCING ACTIVITIES | (8,212) | (8,533) | (7,187) |
| Effect of foreign currency rate changes on cash, cash equivalents and restricted cash | (65) | 41 | (8) |
| Net (decrease) increase in cash, cash equivalents and restricted cash | (4,697) | 4,834 | 1,556 |
| Cash, cash equivalents and restricted cash January 1, | 10,245 [1] | 5,411 | |
| Cash, cash equivalents and restricted cash, December 31, | 5,548 | 10,245 [1] | 5,411 |
| Cash reclassified to assets of businesses held for sale | (425) | 0 | (743) |
| Total cash, cash equivalents and restricted cash and cash equivalents | 5,123 | 10,245 [2] | 4,668 |
| Supplemental Disclosure of Cash Information: | |||
| Income taxes paid, net of refunds | 2,240 | 1,837 | 1,776 |
| Interest paid | 1,253 | 1,439 | 1,645 |
| [1] Includes $743 million reported in Assets of businesses held for sale as of January 1, 2020. | |||
| [2] Restricted cash and cash equivalents were reported in Other long-term investments as of December 31, 2021 and December 31, 2020 and were reported in Other long-term investments and Other assets as of December 31, 2019. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
CIGNA GROUP | ||
Ticker: CI Fiscal Year: 2021 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2021 10-K (Filed: Feb 24, 2022) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2021 | Dec 31, 2020 | |
| Assets | ||
| Cash and cash equivalents | $ 5,081 | 10,182 |
| Investments | 920 | 1,331 |
| Accounts receivable, net | 15,071 | 12,191 |
| Inventories | 3,722 | 3,165 |
| Other current assets | 1,283 | 930 |
| Assets of businesses held for sale | 10,057 | 0 |
| Total current assets | 36,134 | 27,799 |
| Long-term investments | 18,438 | 23,262 |
| Reinsurance recoverables | 4,970 | 5,200 |
| Deferred policy acquisition costs | 677 | 3,385 |
| Property and equipment | 3,692 | 4,205 |
| Goodwill | 45,811 | 44,648 |
| Other intangible assets | 34,102 | 35,179 |
| Other assets | 2,728 | 2,687 |
| Separate account assets | 8,337 | 9,086 |
| TOTAL ASSETS | 154,889 | 155,451 |
| Liabilities | ||
| Current insurance and contractholder liabilities | 5,318 | 5,308 |
| Pharmacy and other service costs payable | 15,309 | 13,347 |
| Accounts payable | 6,655 | 5,478 |
| Accrued expenses and other liabilities | 7,322 | 8,515 |
| Short-term debt | 2,545 | 3,374 |
| Liabilities of businesses held for sale | 6,423 | 0 |
| Total current liabilities | 43,572 | 36,022 |
| Non-current insurance and contractholder liabilities | 12,563 | 16,844 |
| Deferred tax liabilities, net | 8,346 | 8,939 |
| Other non-current liabilities | 3,762 | 4,629 |
| Long-term debt | 31,125 | 29,545 |
| Separate account liabilities | 8,337 | 9,086 |
| TOTAL LIABILITIES | 107,705 | 105,065 |
| Contingencies Note 22 | ||
| Redeemable noncontrolling interests | 54 | 58 |
| Shareholders' equity | ||
| Common stock | 4 [1] | 4 |
| Additional paid-in capital | 29,574 | 28,975 |
| Accumulated other comprehensive loss | (884) | (861) |
| Retained earnings | 32,593 | 28,575 |
| Less: Treasury stock, at cost | (14,175) | (6,372) |
| TOTAL SHAREHOLDERS' EQUITY | 47,112 | 50,321 |
| Other noncontrolling interests | 18 | 7 |
| Total equity | 47,130 | 50,328 |
| Total liabilities and equity | 154,889 | 155,451 |
| [1] Par value per share, $0.01; shares issued, 394 million as of December 31, 2021 and 390 million as of December 31, 2020; authorized shares, 600 million. | ||
| External Links | |
| CIGNA GROUP (CI) Fiscal Year 2021 | |
| 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 |