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: 2013 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2013 10-K (Filed: Feb 27, 2014) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
| Revenues | |||
| Premiums and fees | $ 28,976 | 26,187 | 18,966 |
| Net investment income | 1,164 | 1,144 | 1,146 |
| Mail order pharmacy revenues | 1,827 | 1,623 | 1,447 |
| Other revenues | 200 | 121 | 244 |
| Realized investment gains (losses): | |||
| Other-than-temporary impairments on fixed maturities, net | (11) | (11) | (26) |
| Other realized investment gains | 224 | 55 | 88 |
| Total realized investment gains | 213 | 44 | 62 |
| Total revenues | 32,380 | 29,119 | 21,865 |
| Benefits and Expenses | |||
| Global Health Care medical claims expense | 15,867 | 14,228 | 9,125 |
| Other benefit expenses | 4,998 | 3,672 | 3,365 |
| Mail order pharmacy cost of goods sold | 1,509 | 1,328 | 1,203 |
| GMIB fair value (gain) loss | 0 | (41) | 234 |
| Other operating expenses | 7,830 | 7,455 | 6,062 |
| Total benefits and expenses | 30,204 | 26,642 | 19,989 |
| Income before Income Taxes | 2,176 | 2,477 | 1,876 |
| Income taxes: | |||
| Current | 501 | 719 | 398 |
| Deferred | 197 | 134 | 217 |
| Total taxes | 698 | 853 | 615 |
| Net Income | 1,478 | 1,624 | 1,261 |
| Less: Net Income Attributable to Noncontrolling Interests | 2 | 1 | 1 |
| Shareholders' Net Income | 1,476 | 1,623 | 1,260 |
| Shareholder's Net Income Per Share: | |||
| Basic | 5.28 | 5.70 | 4.65 |
| Diluted | 5.18 | 5.61 | 4.59 |
| Dividends Declared Per Share | 0.04 | 0.04 | 0.04 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CIGNA CORP | |||
Ticker: CI Fiscal Year: 2013 | |||
Consolidated Statements of Shareholders' Comprehensive Income | |||
Period Ending Dec 31, 2013 10-K (Filed: Feb 27, 2014) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
| Shareholders' Net Income | $ 1,476 | 1,623 | 1,260 |
| Shareholders' other comprehensive income (loss): | |||
| Net unrealized appreciation (depreciation) on securities: | |||
| Fixed maturities | (410) | 144 | 210 |
| Equity securities | 0 | 3 | (2) |
| Net unrealized appreciation (depreciation) on securities | (410) | 147 | 208 |
| Net unrealized appreciation (depreciation), derivatives | 9 | (5) | 1 |
| Net translation of foreign currencies | 13 | 66 | (22) |
| Postretirement benefits liability adjustment | 539 | (92) | (360) |
| Shareholders' other comprehensive income | 151 | 116 | (173) |
| Shareholders' comprehensive income (loss) | 1,627 | 1,739 | 1,087 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CIGNA CORP | |||
Ticker: CI Fiscal Year: 2013 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2013 10-K (Filed: Feb 27, 2014) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
| Cash Flows from Operating Activities | |||
| Net Income | $ 1,478 | 1,624 | 1,261 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 597 | 560 | 345 |
| Realized investment (gains) losses | (213) | (44) | (62) |
| Deferred income taxes | 197 | 134 | 217 |
| Gains on sale of businesses (excluding discontinued operations) | (15) | (18) | (25) |
| Net changes in assets and liabilities, net of non-operating effects: | |||
| Premiums, accounts and notes receivable | (110) | (71) | (50) |
| Reinsurance recoverables | 369 | 62 | 19 |
| Deferred policy acquisition costs | (227) | (159) | (129) |
| Other assets | 405 | 31 | (307) |
| Insurance liabilities | 1,040 | 245 | 154 |
| Accounts payable, accrued expenses and other liabilities | (483) | (132) | 344 |
| Current income taxes | (56) | 29 | (246) |
| Cash used to exit Run-off Reinsurance business | (2,196) | 0 | 0 |
| Proceeds from sales of mortgage loans held for sale | 0 | 61 | 0 |
| Other, net | (67) | 28 | (30) |
| Net cash provided by operating activities | 719 | 2,350 | 1,491 |
| Cash Flows from Investing Activities | |||
| Proceeds from investments sold: | |||
| Fixed maturities | 1,767 | 583 | 830 |
| Equity securities | 8 | 8 | 16 |
| Other (primarily short-term and other long-term investments) | 1,661 | 831 | 1,915 |
| Investment maturities and repayments: | |||
| Fixed maturities | 1,593 | 1,507 | 1,265 |
| Equity securities | 28 | 0 | 30 |
| Commercial mortgage loans | 653 | 722 | 638 |
| Investments purchased or originated: | |||
| Fixed maturities | (3,006) | (2,326) | (2,877) |
| Equity securities | (56) | (8) | (20) |
| Commercial mortgage loans | (58) | (364) | (487) |
| Other (primarily short-term and other long-term investments) | (1,930) | (821) | (2,056) |
| Property and equipment purchases | (527) | (408) | (422) |
| Acquisitions, net of cash acquired | (76) | (3,581) | (102) |
| Other | (42) | 0 | 0 |
| Net cash provided by/ (used in) investing activities | 15 | (3,857) | (1,270) |
| Cash Flows from Financing Activities | |||
| Deposits and interest credited to contractholder deposit funds | 1,399 | 1,337 | 1,323 |
| Withdrawals and benefit payments from contractholder deposit funds | (1,358) | (1,264) | (1,178) |
| Change in cash overdraft position | 16 | 25 | (1) |
| Net change in short-term debt | (101) | 98 | 0 |
| Net proceeds on issuance of long-term debt | 0 | 0 | 2,676 |
| Repayment of long-term debt | (15) | (326) | (451) |
| Repurchase of common stock | (1,003) | (208) | (225) |
| Issuance of common stock | 150 | 121 | 734 |
| Common dividends paid | (11) | (11) | (11) |
| Distributions to redeemable noncontrolling interest | (7) | 0 | 0 |
| Net cash (used in) / provided by financing activities | (930) | (228) | 2,867 |
| Effect of foreign currency rate changes on cash and cash equivalents | 13 | 23 | (3) |
| Net increase (decrease) in cash and cash equivalents | (183) | (1,712) | 3,085 |
| Cash and cash equivalents, beginning of year | 2,978 | 4,690 | |
| Cash and cash equivalents, end of year | 2,795 | 2,978 | 4,690 |
| Supplemental Disclosure of Cash Information: | |||
| Income taxes paid, net of refunds | 519 | 655 | 633 |
| Interest paid | 265 | 248 | 185 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
CIGNA CORP | ||
Ticker: CI Fiscal Year: 2013 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2013 10-K (Filed: Feb 27, 2014) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2013 | Dec 31, 2012 | |
| Assets | ||
| Investments [Abstract] | ||
| Fixed maturities, at fair value (amortized cost, $15,273; $15,481) | $ 16,486 | 17,705 |
| Equity securities, at fair value (cost, $146; $121) | 141 | 111 |
| Commercial Mortgage Loans | 2,252 | 2,851 |
| Policy loans | 1,485 | 1,501 |
| Real estate | 97 | 83 |
| Other long-term investments | 1,273 | 1,255 |
| Short-term investments | 631 | 154 |
| Total investments | 22,365 | 23,660 |
| Cash and cash equivalents | 2,795 | 2,978 |
| Accrued investment income | 247 | 258 |
| Premiums, accounts and notes receivable, net | 1,991 | 1,777 |
| Reinsurance recoverables | 7,299 | 6,256 |
| Deferred policy acquisition costs | 1,395 | 1,198 |
| Property and equipment | 1,464 | 1,120 |
| Deferred income taxes, net | 92 | 374 |
| Goodwill | 6,029 | 6,001 |
| Other assets, including other intangibles | 2,407 | 2,355 |
| Separate account assets | 8,252 | 7,757 |
| Total assets | 54,336 | 53,734 |
| Liabilities: | ||
| Contractholder deposit funds | 8,470 | 8,508 |
| Future policy benefits | 9,306 | 9,265 |
| Unpaid claims and claim expenses | 4,298 | 4,062 |
| Global Health Care medical claims payable | 2,050 | 1,856 |
| Unearned premiums and fees | 580 | 549 |
| Total insurance and contractholder liabilities | 24,704 | 24,240 |
| Accounts payable, accrued expenses and other liabilities | 5,456 | 6,667 |
| Short-term debt | 233 | 201 |
| Long-term debt | 5,014 | 4,986 |
| Separate account liabilities | 8,252 | 7,757 |
| Total liabilities | 43,659 | 43,851 |
| Contingencies - Note 23 | ||
| Redeemable noncontrolling interest | 96 | 114 |
| Shareholders' Equity | ||
| Common stock (par value per share, $0.25; shares issued,366; authorized, 600) | 92 | 92 |
| Additional paid-in capital | 3,356 | 3,295 |
| Net unrealized appreciation, fixed maturities | 473 | 883 |
| Net unrealized appreciation, equity securities | 4 | 4 |
| Net unrealized depreciation, derivatives | (19) | (28) |
| Net translation of foreign currencies | 82 | 69 |
| Postretirement benefits liability adjustment | (1,060) | (1,599) |
| Accumulated other comprehensive loss | (520) | (671) |
| Retained earnings | 13,676 | 12,330 |
| Less treasury stock, at cost | (6,037) | (5,277) |
| Total shareholders' equity | 10,567 | 9,769 |
| Noncontrolling interest | 14 | 0 |
| Total equity | 10,581 | 9,769 |
| Total liabilities and equity | 54,336 | 53,734 |
| Shareholders' Equity Per Share | 38.35 | 34.18 |
| External Links | |
| CIGNA CORP (CI) Fiscal Year 2013 | |
| 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 |