10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
| ||||||||||||||
|
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CIGNA GROUP | |||
Ticker: CI Fiscal Year: 2020 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2020 10-K (Filed: Feb 25, 2021) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
| Revenues | |||
| Premiums | $ 42,627 | 39,714 | 36,113 |
| Net investment income | 1,244 | 1,390 | 1,480 |
| TOTAL REVENUES | 160,401 | 153,566 | 48,650 |
| Benefits and expenses | |||
| Pharmacy and other service costs | 103,484 | 97,668 | 4,793 |
| Medical costs and other benefit expenses | 32,710 | 30,819 | 27,528 |
| Selling, general and administrative expenses | 14,072 | 14,053 | 11,934 |
| Amortization of acquired intangible assets | 1,982 | 2,949 | 235 |
| TOTAL BENEFITS AND EXPENSES | 152,248 | 145,489 | 44,490 |
| Income (loss) from operations | 8,153 | 8,077 | 4,160 |
| Interest expense and other | (1,438) | (1,682) | (498) |
| Debt extinguishment costs | (199) | (2) | 0 |
| Gain (loss) on sale of business | 4,203 | 0 | 0 |
| Net realized investment gains (losses) | 149 | 177 | (81) |
| Income before income taxes | 10,868 | 6,570 | 3,581 |
| TOTAL INCOME TAXES | 2,379 | 1,450 | 935 |
| Net income | 8,489 | 5,120 | 2,646 |
| Less: Net income attributable to noncontrolling interests | 31 | 16 | 9 |
| SHAREHOLDERS' NET INCOME | 8,458 | 5,104 | 2,637 |
| Shareholders net income per share | |||
| Basic (in dollars per share) | 23.17 | 13.58 | 10.69 |
| Diluted (in dollars per share) | 22.96 | 13.44 | 10.54 |
| Product and Service | |||
| Pharmacy revenues | |||
| Revenues | 107,769 | 103,099 | 5,479 |
| Fees and other revenues | |||
| Revenues | 8,761 | 9,363 | 5,578 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CIGNA GROUP | |||
Ticker: CI Fiscal Year: 2020 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2020 10-K (Filed: Feb 25, 2021) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
| Net income | $ 8,489 | 5,120 | 2,646 |
| Other comprehensive income (loss), net of tax | |||
| Net unrealized (depreciation) appreciation on securities and derivatives | (75) | 957 | (365) |
| Net translation gains (losses) on foreign currencies | 252 | (59) | (167) |
| Postretirement benefits liability adjustment | (105) | (133) | 127 |
| Other comprehensive income (loss), net of tax | 72 | 765 | (405) |
| Total comprehensive income | 8,561 | 5,885 | 2,241 |
| Comprehensive income (loss) attributable to noncontrolling interests | |||
| Net income attributable to redeemable noncontrolling interest | 14 | 11 | 9 |
| Net income attributable to other noncontrolling interests | 17 | 5 | 0 |
| Other comprehensive (loss) attributable to redeemable noncontrolling interest | (8) | (5) | (15) |
| Total comprehensive income (loss) attributable to noncontrolling interests | 23 | 11 | (6) |
| SHAREHOLDERS' COMPREHENSIVE INCOME | 8,538 | 5,874 | 2,247 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CIGNA GROUP | |||
Ticker: CI Fiscal Year: 2020 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2020 10-K (Filed: Feb 25, 2021) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
| Cash Flows from Operating Activities | |||
| Net income | $ 8,489 | 5,120 | 2,646 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 2,802 | 3,651 | 695 |
| Realized investment losses (gains), net | (149) | (177) | 81 |
| Deferred income tax (benefit) | (386) | (313) | (101) |
| Gain on sale of business | (4,203) | 0 | 0 |
| Debt extinguishment costs | 199 | 2 | 0 |
| Net changes in assets and liabilities, net of non-operating effects: | |||
| Accounts receivable | (1,496) | (713) | 705 |
| Inventories | (504) | 149 | (107) |
| Deferred policy acquisition costs | (307) | (242) | (237) |
| Reinsurance recoverable and Other assets | 230 | (277) | (234) |
| Insurance liabilities | 841 | 575 | 560 |
| Pharmacy and other service costs payable | 2,891 | (192) | (842) |
| Accounts payable and Accrued expenses and other liabilities | 1,346 | 1,343 | 332 |
| Other, net | 597 | 559 | 272 |
| NET CASH PROVIDED BY OPERATING ACTIVITIES | 10,350 | 9,485 | 3,770 |
| Cash Flows from Investing Activities | |||
| Proceeds from investments sold: | |||
| Debt securities and equity securities | 2,283 | 3,487 | 2,655 |
| Investment maturities and repayments: | |||
| Debt securities and equity securities | 1,519 | 1,825 | 2,151 |
| Commercial mortgage loans | 19 | 199 | 215 |
| Other sales, maturities and repayments (primarily short-term and other long-term investments) | 1,575 | 1,311 | 734 |
| Investments purchased or originated: | |||
| Debt securities and equity securities | (4,765) | (4,282) | (5,637) |
| Commercial mortgage loans | (113) | (307) | (312) |
| Other (primarily short-term and other long-term investments) | (1,924) | (1,753) | (1,189) |
| Property and equipment purchases, net | (1,094) | (1,050) | (528) |
| Acquisitions, net of cash acquired | (139) | (153) | (24,455) |
| Divestiture, net of cash sold | 5,592 | 0 | 0 |
| Other, net | 23 | (11) | (12) |
| NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES | 2,976 | (734) | (26,378) |
| Cash Flows from Financing Activities | |||
| Deposits and interest credited to contractholder deposit funds | 1,023 | 955 | 1,040 |
| Withdrawals and benefit payments from contractholder deposit funds | (979) | (1,097) | (1,151) |
| Net change in short-term debt | 60 | (681) | 1,487 |
| Net proceeds on issuance of term loan | 1,398 | 0 | 0 |
| Repayment of term loan | (1,400) | 0 | 0 |
| Payments for debt extinguishment | (212) | (3) | 0 |
| Repayment of long-term debt | (8,047) | (4,491) | (131) |
| Net proceeds on issuance of long-term debt | 3,465 | 0 | 22,856 |
| Repurchase of common stock | (4,042) | (1,987) | (342) |
| Issuance of common stock | 376 | 224 | 68 |
| Other, net | (175) | (107) | (312) |
| NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES | (8,533) | (7,187) | 23,515 |
| Effect of foreign currency rate changes on cash, cash equivalents and restricted cash | 41 | (8) | (24) |
| Net increase in cash, cash equivalents and restricted cash | 4,834 | 1,556 | 883 |
| Cash, cash equivalents and restricted cash January 1, | 5,411 | 3,855 | |
| Cash, cash equivalents and restricted cash, December 31, | 10,245 | 5,411 | 3,855 |
| Cash reclassified to assets of business held for sale | 0 | (743) | 0 |
| Cash, cash equivalents, and restricted cash December 31, per Consolidated Balance Sheets | 10,245 | 4,668 | 3,855 [1] |
| Supplemental Disclosure of Cash Information: | |||
| Income taxes paid, net of refunds | 1,837 | 1,776 | 1,019 |
| Interest paid | 1,439 | 1,645 | 267 |
| [1] See table below for Cash, cash equivalents and restricted cash reconciliation as of December 31, 2020 and December 31, 2019. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
CIGNA GROUP | ||
Ticker: CI Fiscal Year: 2020 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2020 10-K (Filed: Feb 25, 2021) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2020 | Dec 31, 2019 | |
| Assets | ||
| Cash and cash equivalents | $ 10,182 | 4,619 |
| Investments | 1,331 | 937 |
| Accounts receivable, net | 12,191 | 10,716 |
| Inventories | 3,165 | 2,661 |
| Other current assets | 930 | 1,400 |
| Assets of business held for sale | 0 | 9,512 |
| Total current assets | 27,799 | 29,845 |
| Long-term investments | 23,262 | 21,542 |
| Reinsurance recoverables | 5,200 | 5,100 |
| Deferred policy acquisition costs | 3,385 | 2,958 |
| Property and equipment | 4,205 | 4,417 |
| Goodwill | 44,648 | 44,602 |
| Other intangible assets | 35,179 | 36,562 |
| Other assets | 2,687 | 2,283 |
| Separate account assets | 9,086 | 8,465 |
| TOTAL ASSETS | 155,451 | 155,774 |
| Liabilities | ||
| Current insurance and contractholder liabilities | 5,308 | 4,921 |
| Pharmacy and other service costs payable | 13,347 | 10,454 |
| Accounts payable | 5,478 | 5,090 |
| Accrued expenses and other liabilities | 8,515 | 7,347 |
| Short-term debt | 3,374 | 5,514 |
| Liabilities of business held for sale | 0 | 6,812 |
| Total current liabilities | 36,022 | 40,138 |
| Non-current insurance and contractholder liabilities | 16,844 | 16,052 |
| Deferred tax liabilities, net | 8,939 | 9,387 |
| Other non-current liabilities | 4,629 | 4,460 |
| Long-term debt | 29,545 | 31,893 |
| Separate account liabilities | 9,086 | 8,465 |
| TOTAL LIABILITIES | 105,065 | 110,395 |
| Contingencies Note 21 | ||
| Redeemable noncontrolling interests | 58 | 35 |
| Shareholders equity | ||
| Common stock | 4 [1] | 4 |
| Additional paid-in capital | 28,975 | 28,306 |
| Accumulated other comprehensive loss | (861) | (941) |
| Retained earnings | 28,575 | 20,162 |
| Less: treasury stock, at cost | (6,372) | (2,193) |
| TOTAL SHAREHOLDERS EQUITY | 50,321 | 45,338 |
| Other noncontrolling interests | 7 | 6 |
| Total equity | 50,328 | 45,344 |
| Total liabilities and equity | 155,451 | 155,774 |
| [1] Par value per share, $0.01; shares issued, 390 million as of December 31, 2020 and 386 million as of December 31, 2019; authorized shares, 600 million. | ||
| External Links | |
| CIGNA GROUP (CI) Fiscal Year 2020 | |
| 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 |