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: 2017 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2017 10-K (Filed: Feb 28, 2018) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
| Cash Flows from Operating Activities | |||
| Net Income | $ 2,232 | 1,843 | 2,077 |
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: | |||
| Depreciation and amortization | 566 | 610 | 585 |
| Realized investment (gains) losses | (237) | (169) | (57) |
| Deferred income taxes (benefits) | 242 | 74 | 21 |
| Net changes in assets and liabilities, net of non-operating effects: | |||
| Premiums, accounts and notes receivable | (233) | 663 | (945) |
| Reinsurance recoverables | 214 | 142 | 55 |
| Deferred policy acquisition costs | (282) | (213) | (182) |
| Other assets | (171) | 134 | 16 |
| Insurance liabilities | 506 | 683 | 657 |
| Accounts payable, accrued expenses and other liabilities | 639 | 124 | 423 |
| Current income taxes | 92 | 1 | (25) |
| Debt extinguishment costs | 321 | 0 | 100 |
| Distributions from partnership investments | 161 | 144 | 137 |
| Other, net | 36 [1] | (10) | 71 |
| Net cash provided by (used in) operating activities | 4,086 [2] | 4,026 | 2,933 |
| Cash Flows from Investing Activities | |||
| Proceeds from investments sold: | |||
| Fixed maturities and equity securities | 2,012 | 1,544 | 1,555 |
| Investment maturities and repayments: | |||
| Fixed maturities and equity securities | 2,051 | 1,755 | 1,435 |
| Commercial mortgage loans | 335 | 316 | 640 |
| Other sales, maturities and repayments (primarily short-term and other long-term investments) | 1,702 | 1,431 | 1,160 |
| Investments purchased or originated: | |||
| Fixed maturities and equity securities | (5,628) | (5,191) | (4,234) |
| Commercial mortgage loans | (430) | (165) | (500) |
| Other (primarily short-term and other long-term investments) | (1,065) | (1,698) | (1,183) |
| Property and equipment purchases, net | (471) | (461) | (510) |
| Acquisitions, net of cash acquired | (209) | (4) | (99) |
| Other, net | 0 | (101) | 0 |
| Net cash provided by (used in) investing activities | (1,703) | (2,574) | (1,736) |
| Cash Flows from Financing Activities | |||
| Deposits and interest credited to contractholder deposit funds | 1,230 | 1,460 | 1,429 |
| Withdrawals and benefit payments from contractholder deposit funds | (1,363) | (1,362) | (1,359) |
| Net change in short-term debt | 80 | (148) | (21) |
| Payments for debt extinguishment | (313) | 0 | (87) |
| Repayment of long-term debt | (1,250) | 0 | (851) |
| Net proceeds on issuance of long-term debt | 1,581 | 0 | 894 |
| Repurchase of common stock | (2,725) | (139) | (671) |
| Issuance of common stock | 131 | 36 | 154 |
| Other, net | (22) | (72) | (97) |
| Net cash provided by (used in) financing activities | (2,651) | (225) | (609) |
| Effect of foreign currency rate changes on cash and cash equivalents | 55 | (10) | (40) |
| Net increase / (decrease) in cash and cash equivalents | (213) | 1,217 | 548 |
| Cash and cash equivalents, January 1, | 3,185 | 1,968 | |
| Cash and cash equivalents, December 31, | 2,972 | 3,185 | 1,968 |
| Supplemental Disclosure of Cash Information: | |||
| Income taxes paid, net of refunds | 1,036 | 1,064 | 1,194 |
| Interest paid | 240 | 244 | 245 |
| Adjustments For New Accounting Pronouncements | |||
| Accounting Standards Update 2016-09 | |||
| Other, net | 61 | 72 | |
| Net cash provided by (used in) operating activities | 61 | 72 | |
| Other, net | (61) | (72) | |
| Net cash provided by (used in) financing activities | (61) | (72) | |
| Statement Scenario | |||
| Restatement Adjustment | |||
| Other, net | 79 | ||
| Net cash provided by (used in) operating activities | 79 | ||
| Other, net | (79) | ||
| Net cash provided by (used in) financing activities | (79) | ||
| Accounting Standards Update 2016-15 | |||
| Distributions from partnership investments | 161 | 144 | |
| Net cash provided by (used in) operating activities | 161 | 144 | |
| Other sales, maturities and repayments (primarily short-term and other long-term investments) | (161) | (144) | |
| Net cash provided by (used in) investing activities | (161) | (144) | |
| Distributions from partnership investments | 137 | ||
| Net cash provided by (used in) operating activities | 137 | ||
| Other sales, maturities and repayments (primarily short-term and other long-term investments) | (137) | ||
| Net cash provided by (used in) investing activities | (137) | ||
| [2] As required in adopting ASU 2016-15 in 2016, the Company retrospectively reclassified $137 million of cash distributions of earnings from partnership investments from investing to operating activities in 2015. The comparable amounts reported in operating activities were $161 million in 2017 and $144 million in 2016. | |||
| [1] As required in adopting Accounting Standard Update ("ASU") 2016-09 in 2016, the Company retrospectively reclassified $79 million of cash payments from operating to financing activities in 2015. These payments were related to employee tax obligations associated with stock compensation. The comparable amounts reported in financing activities were $61 million in 2017 and $72 million in 2016. | |||
| External Links | |
| CIGNA CORP (CI) Fiscal Year 2017 | |
| 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 |