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: 2022 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 23, 2023) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Revenues | |||
| Premiums | $ 39,915 | 41,154 | 42,627 |
| Net investment income | 1,155 | 1,549 | 1,244 |
| TOTAL REVENUES | 180,516 | 174,078 | 160,401 |
| Benefits and expenses | |||
| Pharmacy and other service costs | 124,834 | 117,553 | 103,484 |
| Medical costs and other benefit expenses | 32,206 | 33,562 | 32,710 |
| Selling, general and administrative expenses | 13,186 | 13,030 | 14,072 |
| Amortization of acquired intangible assets | 1,876 | 1,998 | 1,982 |
| TOTAL BENEFITS AND EXPENSES | 172,102 | 166,143 | 152,248 |
| Income from operations | 8,414 | 7,935 | 8,153 |
| Interest expense and other | (1,228) | (1,208) | (1,438) |
| Debt extinguishment costs | 0 | (141) | (199) |
| Gain on sale of businesses | 1,662 | 0 | 4,203 |
| Net realized investment (losses) gains | (495) | 196 | 149 |
| Income before income taxes | 8,353 | 6,782 | 10,868 |
| TOTAL INCOME TAXES | 1,607 | 1,367 | 2,379 |
| Net income | 6,746 | 5,415 | 8,489 |
| Less: Net income attributable to noncontrolling interests | 78 | 50 | 31 |
| SHAREHOLDERS' NET INCOME | 6,668 | 5,365 | 8,458 |
| Shareholders' net income per share | |||
| Basic (in dollars per share) | 21.54 | 15.87 | 23.17 |
| Diluted (in dollars per share) | 21.30 | 15.73 | 22.96 |
| Product and Service | |||
| Pharmacy revenues | |||
| Revenues | 128,566 | 121,413 | 107,769 |
| Fees and other revenues | |||
| Revenues | 10,880 | 9,962 | 8,761 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CIGNA GROUP | |||
Ticker: CI Fiscal Year: 2022 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 23, 2023) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Net income | $ 6,746 | 5,415 | 8,489 |
| Other comprehensive income (loss), net of tax | |||
| Net unrealized depreciation on securities and derivatives | (1,005) | (215) | (75) |
| Net translation gains (losses) on foreign currencies | 72 | (232) | 252 |
| Postretirement benefits liability adjustment | 420 | 410 | (105) |
| Other comprehensive (loss) income, net of tax | (513) | (37) | 72 |
| Total comprehensive income | 6,233 | 5,378 | 8,561 |
| Comprehensive income (loss) attributable to noncontrolling interests | |||
| Net income attributable to redeemable noncontrolling interests | 11 | 19 | 14 |
| Net income attributable to other noncontrolling interests | 67 | 31 | 17 |
| Other comprehensive loss attributable to redeemable noncontrolling interests | (2) | (14) | (8) |
| Total comprehensive income attributable to noncontrolling interests | 76 | 36 | 23 |
| SHAREHOLDERS' COMPREHENSIVE INCOME | 6,157 | 5,342 | 8,538 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CIGNA GROUP | |||
Ticker: CI Fiscal Year: 2022 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 23, 2023) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Cash Flows from Operating Activities | |||
| Net income | $ 6,746 | 5,415 | 8,489 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 2,937 | 2,923 | 2,802 |
| Realized investment losses (gains), net | 495 | (196) | (149) |
| Deferred income tax benefit | (480) | (220) | (386) |
| Gain on sale of businesses | (1,662) | 0 | (4,203) |
| Debt extinguishment costs | 0 | 141 | 199 |
| Net changes in assets and liabilities, net of non-operating effects: | |||
| Accounts receivable, net | (2,237) | (2,843) | (1,496) |
| Inventories | (1,055) | (557) | (504) |
| Reinsurance recoverable and Other assets | (38) | (656) | (77) |
| Insurance liabilities | 291 | 967 | 841 |
| Pharmacy and other service costs payable | 1,760 | 1,961 | 2,891 |
| Accounts payable and Accrued expenses and other liabilities | 1,574 | (77) | 1,346 |
| Other, net | 325 | 333 | 597 |
| NET CASH PROVIDED BY OPERATING ACTIVITIES | 8,656 | 7,191 | 10,350 |
| Cash Flows from Investing Activities | |||
| Proceeds from investments sold: | |||
| Debt securities and equity securities | 1,744 | 2,030 | 2,283 |
| Investment maturities and repayments: | |||
| Debt securities and equity securities | 1,327 | 1,628 | 1,519 |
| Commercial mortgage loans | 98 | 180 | 19 |
| Other sales, maturities and repayments (primarily short-term and other long-term investments) | 1,039 | 1,936 | 1,575 |
| Investments purchased or originated: | |||
| Debt securities and equity securities | (2,756) | (3,553) | (4,765) |
| Commercial mortgage loans | (161) | (327) | (113) |
| Other (primarily short-term and other long-term investments) | (1,563) | (2,554) | (1,924) |
| Property and equipment purchases, net | (1,295) | (1,154) | (1,094) |
| Acquisitions, net of cash acquired | 0 | (1,833) | (139) |
| Divestitures, net of cash sold | 4,835 | (61) | 5,592 |
| Other, net | (170) | 97 | 23 |
| NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES | 3,098 | (3,611) | 2,976 |
| Cash Flows from Financing Activities | |||
| Deposits and interest credited to contractholder deposit funds | 164 | 153 | 1,023 |
| Withdrawals and benefit payments from contractholder deposit funds | (220) | (168) | (979) |
| Net change in short-term debt | (2,059) | 975 | 60 |
| Net proceeds on issuance of term loan | 0 | 0 | 1,398 |
| Repayment of term loan | 0 | 0 | (1,400) |
| Payments for debt extinguishment | 0 | (136) | (212) |
| Repayment of long-term debt | (500) | (4,578) | (8,047) |
| Net proceeds on issuance of long-term debt | 0 | 4,260 | 3,465 |
| Repurchase of common stock | (7,607) | (7,742) | (4,042) |
| Issuance of common stock | 389 | 326 | 376 |
| Common stock dividend paid | (1,384) | (1,341) | (15) |
| Other, net | (23) | 39 | (160) |
| NET CASH USED IN FINANCING ACTIVITIES | (11,240) | (8,212) | (8,533) |
| Effect of foreign currency rate changes on cash, cash equivalents and restricted cash | (86) | (65) | 41 |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 428 | (4,697) | 4,834 |
| Cash, cash equivalents and restricted cash January 1, including held for sale assets | 5,548 [1] | ||
| Cash, cash equivalents and restricted cash December 31, including held for sale assets | 5,548 [1] | ||
| Cash and cash equivalents reclassified to Assets of businesses held for sale | 0 | (425) | 0 |
| Cash, cash equivalents and restricted cash and cash equivalents January 1, | 5,123 | 10,245 | |
| Cash, cash equivalents and restricted cash and cash equivalents December 31, | 5,976 | 5,123 | 10,245 |
| Supplemental Disclosure of Cash Information: | |||
| Income taxes paid, net of refunds | 1,850 | 2,240 | 1,837 |
| Interest paid | 1,229 | 1,253 | 1,439 |
| [1] Includes $425 million reported in Assets of businesses held for sale as of January 1, 2022. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
CIGNA GROUP | ||
Ticker: CI Fiscal Year: 2022 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2022 10-K (Filed: Feb 23, 2023) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2022 | Dec 31, 2021 | |
| Assets | ||
| Cash and cash equivalents | $ 5,924 | 5,081 |
| Investments | 905 | 920 |
| Accounts receivable, net | 17,218 | 15,071 |
| Inventories | 4,777 | 3,722 |
| Other current assets | 1,296 | 1,283 |
| Assets of businesses held for sale | 0 | 10,057 |
| Total current assets | 30,120 | 36,134 |
| Long-term investments | 16,288 | 18,438 |
| Reinsurance recoverables | 4,743 | 4,970 |
| Property and equipment | 3,774 | 3,692 |
| Goodwill | 45,811 | 45,811 |
| Other intangible assets | 32,492 | 34,102 |
| Other assets | 3,426 | 3,405 |
| Separate account assets | 7,278 | 8,337 |
| TOTAL ASSETS | 143,932 | 154,889 |
| Liabilities | ||
| Current insurance and contractholder liabilities | 5,385 | 5,318 |
| Pharmacy and other service costs payable | 17,070 | 15,309 |
| Accounts payable | 7,775 | 6,655 |
| Accrued expenses and other liabilities | 8,006 | 7,322 |
| Short-term debt | 2,993 | 2,545 |
| Liabilities of businesses held for sale | 0 | 6,423 |
| Total current liabilities | 41,229 | 43,572 |
| Non-current insurance and contractholder liabilities | 11,481 | 12,563 |
| Deferred tax liabilities, net | 7,751 | 8,346 |
| Other non-current liabilities | 3,142 | 3,762 |
| Long-term debt | 28,100 | 31,125 |
| Separate account liabilities | 7,278 | 8,337 |
| TOTAL LIABILITIES | 98,981 | 107,705 |
| Contingencies Note 23 | ||
| Redeemable noncontrolling interests | 66 | 54 |
| Shareholders' equity | ||
| Common stock | 4 [1] | 4 |
| Additional paid-in capital | 30,233 | 29,574 |
| Accumulated other comprehensive loss | (1,395) | (884) |
| Retained earnings | 37,874 | 32,593 |
| Less: Treasury stock, at cost | (21,844) | (14,175) |
| TOTAL SHAREHOLDERS' EQUITY | 44,872 | 47,112 |
| Other noncontrolling interests | 13 | 18 |
| Total equity | 44,885 | 47,130 |
| Total liabilities and equity | 143,932 | 154,889 |
| [1] Par value per share, $0.01; shares issued, 398 million as of December 31, 2022 and 394 million as of December 31, 2021; authorized shares, 600 million. | ||
| External Links | |
| CIGNA GROUP (CI) Fiscal Year 2022 | |
| 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 |