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: 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. | |||
| 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 |