false
0001739940
0001739940
2024-02-02
2024-02-02
iso4217:USD
xbrli:shares
iso4217:USD
xbrli:shares
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) February
2, 2024
The Cigna Group
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction of
incorporation) |
001-38769
(Commission File Number) |
82-4991898
(IRS Employer
Identification No.) |
900 Cottage Grove Road
Bloomfield, Connecticut 06002
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area
code:
(860) 226-6000
Not Applicable
(Former name or former address, if changed since last
report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange
Act (17 CFR 240.14a-12)
☐ Pre-commencement communications
pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications
pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
Trading Symbol(s) |
Name of each exchange on which registered |
Common Stock, Par Value $0.01 |
CI |
New York Stock Exchange, Inc. |
Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities
Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant
to Section 13(a) of the Exchange Act. ☐
|
Item 2.02 |
Results of Operations and Financial Condition. |
On February 2, 2024, The Cigna
Group issued a press release announcing results for the three months and year ended December 31, 2023. The press release is furnished
as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference.
This information shall not be
deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”),
or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act whether made before or after
the date of this Current Report on Form 8-K, except as shall be expressly set forth by specific reference in such a filing.
|
Item 9.01 |
Financial Statements and Exhibits. |
(d) Exhibits.
|
104 |
Cover Page Interactive Data File (embedded within the Inline XBRL). |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|
THE CIGNA GROUP |
|
|
Date: February 2, 2024 |
By: |
/s/ Brian C. Evanko |
|
|
Brian C. Evanko |
|
|
Executive Vice President
and Chief Financial Officer and President and Chief Executive Officer, Cigna Healthcare |
Exhibit 99.1
Press Release |
|
INVESTOR RELATIONS CONTACT:
Ralph Giacobbe
860-787-7968
Ralph.Giacobbe@TheCignaGroup.com
MEDIA CONTACT:
Justine Sessions
860-810-6523
Justine.Sessions@Evernorth.com
The Cigna Group Reports Strong Fourth Quarter
and Full Year 2023 Results,
Raises 2024 Adjusted EPS Outlook, and Increases
Dividend
| • | Total revenues for 2023 were $195.3 billion |
| • | Shareholders’ net income for 2023 was $5.2 billion, or $17.39 per share |
| • | Adjusted income from
operations1 for 2023 was $7.4 billion, or $25.09 per share |
| • | 2024 adjusted income
from operations1,2 is projected to be at least $8.025 billion, or at least $28.25 per share2 |
| • | Board of Directors declared a 14% increase in the quarterly dividend to $1.40 per share |
BLOOMFIELD, CT, February 2, 2024 – Global health
company The Cigna Group (NYSE: CI) today reported strong 2023 results reflecting revenue and earnings growth across its diversified portfolio
of businesses.
“2023 was another very strong year for our company with consistent
execution and sustained growth,” said David M. Cordani, chairman and CEO of The Cigna Group. “We will accelerate our momentum
in 2024 as we lead in improving value, affordability and clinical outcomes, as well as with expanding access and choice.”
Shareholders’ net income for fourth quarter 2023 was $1.0 billion,
or $3.49 per share, including a net after-tax loss of $552 million, or $1.88 per share, primarily associated with the loss on sale of
businesses, a deferred tax benefit, as well as a charge for the organizational efficiency plan, compared with $1.2 billion, or $3.91 per
share, for fourth quarter 20223.
The Cigna Group's adjusted income from operations1 for
fourth quarter 2023 was $2.0 billion, or $6.79 per share, compared with $1.5 billion, or $5.02 per share, for fourth quarter 20223,
reflecting strong contributions from both Evernorth Health Services and Cigna Healthcare.
Shareholders’ net income for
2023 was $5.2 billion, or $17.39 per share, compared with $6.7 billion, or $21.41 per share, for 20223. The Cigna Group's adjusted
income from operations1 for 2023 was $7.4 billion, or $25.09 per share, compared with $7.3 billion, or $23.36 per share, for
20223.
A reconciliation of shareholders’ net income
to adjusted income from operations1 is provided on the following page and on Exhibit 1 of this earnings release.
CONSOLIDATED HIGHLIGHTS
The following table includes highlights
of results and reconciliations of total revenues to adjusted revenues4 and shareholders’ net income to adjusted income
from operations1:
Consolidated Financial Results (dollars in millions): |
| |
Three Months Ended | |
Year Ended |
| |
December 31, | |
December 31, |
| |
| 2023 | | |
| 20223 | | |
| 2023 | | |
| 20223 | |
| |
| | | |
| | | |
| | | |
| | |
Total Revenues | |
$ | 51,114 | | |
$ | 45,753 | | |
$ | 195,265 | | |
$ | 180,518 | |
Net Realized Investment Losses (Gains) from Equity Method Investments4 | |
| 35 | | |
| (8 | ) | |
| 57 | | |
| 126 | |
Adjusted Revenues4 | |
$ | 51,149 | | |
$ | 45,745 | | |
$ | 195,322 | | |
$ | 180,644 | |
| |
| | | |
| | | |
| | | |
| | |
Consolidated Earnings, net of taxes | |
| | | |
| | | |
| | | |
| | |
Shareholders’ Net Income | |
$ | 1,029 | | |
$ | 1,193 | | |
$ | 5,164 | | |
$ | 6,704 | |
Net Realized Investment Losses (Gains)1 | |
| 58 | | |
| (17 | ) | |
| 114 | | |
| 496 | |
Amortization of Acquired Intangible Assets1 | |
| 360 | | |
| 284 | | |
| 1,413 | | |
| 1,345 | |
Special Items1 | |
| 552 | | |
| 73 | | |
| 757 | | |
| (1,232 | ) |
Adjusted Income from Operations1 | |
$ | 1,999 | | |
$ | 1,533 | | |
$ | 7,448 | | |
$ | 7,313 | |
| |
| | | |
| | | |
| | | |
| | |
Shareholders’ Net Income, per share | |
$ | 3.49 | | |
$ | 3.91 | | |
$ | 17.39 | | |
$ | 21.41 | |
Adjusted Income from Operations1, per share | |
$ | 6.79 | | |
$ | 5.02 | | |
$ | 25.09 | | |
$ | 23.36 | |
| • | Total revenues for fourth quarter 2023 increased 12% from fourth quarter 2022,
reflecting strong growth across Evernorth Health Services and Cigna Healthcare. |
| • | Shareholders’ net income for fourth quarter 2023 was $1.0 billion, or $3.49
per share, including a net after-tax loss of $552 million, or $1.88 per share, primarily associated with the loss on sale of businesses,
a deferred tax benefit, as well as a charge for the organizational efficiency plan, compared with $1.2 billion, or $3.91 per share, for
fourth quarter 20223. |
| • | Adjusted income from operations1 for fourth quarter 2023 increased 30%
from fourth quarter 20223, reflecting strong contributions from Evernorth Health Services and Cigna Healthcare. |
| • | The SG&A expense ratio5 was 7.9% for fourth quarter 2023, compared
to 7.6% for fourth quarter 20223, reflecting the one-time cost of an organizational efficiency plan, partially offset by revenue
growth. The adjusted SG&A expense ratio5 was 7.4% for fourth quarter 2023, compared to 7.6% for fourth quarter 20223. |
| • | The debt-to-capitalization ratio was 40.1% at
December 31, 2023 compared to 40.5% at September 30, 2023 and 41.0% at December 31, 20223. |
| • | In 2023, the Company repurchased 7.8 million shares of common stock for approximately $2.3 billion. |
| • | On February 2, 2024, the Company’s Board of Directors declared a cash quarterly dividend of $1.40
per share of Cigna common stock to be paid on March 21, 2024 to shareholders of record as of the close of trading on March 6, 2024. This
reflects a 14% increase from the 2023 cash quarterly dividend of $1.23 per share. |
CUSTOMER RELATIONSHIPS
The following table summarizes The Cigna Group’s medical customers
and overall customer relationships:
Customer Relationships (in thousands):
|
As of the Periods Ended |
|
December 31, |
|
2023 |
2022 |
|
|
|
Total Pharmacy Customers6 |
98,570 |
93,905 |
|
|
|
U.S. Healthcare |
18,170 |
16,206 |
International Health |
1,610 |
1,798 |
Total Medical Customers6 |
19,780 |
18,004 |
|
|
|
Behavioral Care |
24,956 |
44,841 |
Dental |
18,543 |
18,397 |
Medicare Part D |
2,550 |
2,874 |
|
|
|
Total Customer Relationships6 |
164,399 |
178,021 |
| • | Total pharmacy customers6 at December 31, 2023 increased 5% from December 31, 2022
to 98.6 million due to new sales and the continued expansion of relationships. |
| • | Total medical customers6 at December 31, 2023 grew 10% from December 31,
2022 to 19.8 million, an increase of 1.8 million customers, primarily driven by growth in U.S. Healthcare, including fee-based customers
as well as Individual and Family Plans and Medicare Advantage customers. |
| • | Customer relationships6 were impacted by the non-renewal of a supplemental
behavioral coverage contract with New York Life, which was insignificant to total revenues and adjusted income from operations1.
Excluding the impact of this contract6, behavioral care and total customer relationships6 at December 31, 2023
increased 1% and 4%, respectively, from December 31, 2022. |
HIGHLIGHTS OF SEGMENT RESULTS
See Exhibit 1 for a reconciliation
of adjusted income (loss) from operations1 to shareholders’ net income.
Evernorth Health Services
This segment offers a broad range of coordinated
and point solution health services and capabilities, as well as those from partners across the health care system, in Pharmacy Benefits,
Home Delivery Pharmacy, Specialty Pharmacy, Distribution and Care Delivery and Management Solutions to health plans, employers, government
organizations and health care providers.
Financial Results (dollars in millions):
|
| |
Three Months Ended | |
Year Ended |
| |
December 31, | |
December 31, |
| |
2023 | |
2022 | |
2023 | |
2022 |
| |
| |
| |
| |
|
Adjusted Revenues4 | |
$ | 40,519 | | |
$ | 36,188 | | |
$ | 153,499 | | |
$ | 140,335 | |
Adjusted Income from Operations, Pre-Tax1 | |
$ | 1,890 | | |
$ | 1,725 | | |
$ | 6,442 | | |
$ | 6,127 | |
Adjusted Margin, Pre-Tax7 | |
| 4.7% | | |
| 4.8% | | |
| 4.2% | | |
| 4.4% | |
| • | Fourth quarter and full year 2023 adjusted revenues4 increased 12% and
9%, relative to fourth quarter and full year 2022, respectively, reflecting strong organic growth in specialty pharmacy and care solutions. |
| • | Fourth quarter and full year 2023 adjusted income from operations, pre-tax1,
increased 10% and 5%, relative to fourth quarter and full year 2022, respectively, reflecting continued affordability improvements and
growth in specialty, partially offset by increased strategic investments in technology to support the onboarding of new clients and continued
advancement of our digital capabilities and care solutions. |
| • | Fourth quarter and full year 2023 adjusted margin, pre-tax7, was 4.7%
and 4.2%, compared to 4.8% and 4.4%, for fourth quarter and full year 2022, respectively, reflecting continued strategic investments in
technology to support the onboarding of new clients and expansion of existing client relationships. |
Cigna Healthcare
This segment includes the U.S. Healthcare and
International Health operating segments, which provide comprehensive medical and coordinated solutions to clients and customers. During
the fourth quarter of 2023, the U.S. Commercial and U.S. Government operating segments combined to form the U.S. Healthcare operating
segment. U.S. Healthcare provides commercial medical plans and specialty benefits and solutions for insured and self-insured clients,
Medicare Advantage, Medicare Supplement and Medicare Part D plans for seniors and individual health insurance plans. International Health
solutions include health care coverage in our international markets, as well as health care benefits for globally mobile individuals and
employees of multinational organizations.
Financial Results (dollars in millions):
|
| |
Three Months Ended | |
Year Ended |
| |
December 31, | |
December 31, |
| |
| 2023 | | |
| 20223 | | |
| 2023 | | |
| 20223 | |
| |
| | | |
| | | |
| | | |
| | |
Adjusted Revenues4,8 | |
$ | 13,005 | | |
$ | 11,132 | | |
$ | 51,205 | | |
$ | 45,037 | |
Adjusted Income from Operations, Pre-Tax1 | |
$ | 969 | | |
$ | 517 | | |
$ | 4,478 | | |
$ | 4,099 | |
Adjusted Margin, Pre-Tax7 | |
| 7.5% | | |
| 4.6% | | |
| 8.7% | | |
| 9.1% | |
| • | Fourth quarter and full year 2023 adjusted revenues4,8 grew 17% and 14%, over fourth quarter
and full year 2022, respectively, reflecting customer growth and premium rate increases to cover underlying medical cost trends. |
| • | Fourth quarter 2023 adjusted income from operations, pre-tax1, increased relative to fourth
quarter 20223, primarily driven by a lower adjusted SG&A expense ratio5, reflecting strong revenue growth, timing
of investments, and operating efficiency, as well as a lower MCR5 and higher net investment income. |
| • | Full year 2023 adjusted income from operations, pre-tax1, increased relative to full year 20223,
primarily driven by a lower MCR5 and a lower adjusted SG&A expense ratio5. |
| • | The Cigna Healthcare MCR5 was 82.2% and 81.3% for fourth quarter and full year 2023 compared
to 83.8% and 81.7% for fourth quarter and full year 2022, respectively. The fourth quarter and full year 2023 MCR5 benefited
from continued strong performance in our U.S. Healthcare business, including affordability initiatives, effective pricing execution, and
favorable stop loss results. |
| • | Cigna Healthcare net medical costs payable9 was $4.86 billion at December 31,
2023, $5.09 billion at September 30, 2023, and $3.96 billion at December 31, 2022. The year-over-year increase was primarily
driven by customer growth and business mix. The sequential decrease was consistent with prior years, reflecting stop loss seasonality.
Favorable prior year reserve development on a gross pre-tax basis was $279 million and $259 million for full year 2023 and 2022, respectively. |
Corporate and Other Operations
Corporate reflects interest expense, amounts
not allocated to operating segments and includes intersegment eliminations. Additionally, this discussion includes items reported in Other
Operations, which is comprised of Corporate Owned Life Insurance (“COLI”) and the Company’s run-off operations.
Financial Results (dollars in millions):
|
| |
Three Months Ended | |
Year Ended |
| |
December 31, | |
December 31, |
| |
| 2023 | | |
| 20223 | | |
| 2023 | | |
| 20223 | |
| |
| | | |
| | | |
| | | |
| | |
Adjusted (Loss) from Operations, Pre-Tax1 | |
$ | (400 | ) | |
$ | (375 | ) | |
$ | (1,602 | ) | |
$ | (957 | ) |
| • | Fourth quarter 2023 adjusted loss from operations, pre-tax1, was $400 million compared to $375
million for fourth quarter 2022, primarily reflecting the impact of higher interest rates. |
| • | Full year 2023 adjusted loss from operations, pre-tax1, was $1,602 million compared to $957
million for full year 2022, primarily reflecting the absence of income from divested businesses10. |
2024 OUTLOOK2
The Cigna Group's outlook2 for full
year 2024 adjusted revenues2,4 is at least $235.0 billion. The Cigna Group’s outlook2 for full year 2024 consolidated
adjusted income from operations1,2 is at least $8.025 billion, or at least $28.25 per share2. Additionally, this
outlook includes the impact of expected future share repurchases and anticipated 2024 dividends.
(dollars in millions, except where noted and per share amounts) |
|
2024 Consolidated Metrics |
Projection for Full Year Ending
December 31, 2024 |
|
Adjusted Revenues2,4 |
at least $235,000 |
|
Adjusted Income from Operations1,2 |
at least $8,025 |
|
Adjusted Income from Operations, per share1,2 |
at least $28.25 |
|
Adjusted SG&A Expense Ratio2,5 |
~6.1% |
|
Adjusted Effective Tax Rate2,11 |
20.5% to 21.0% |
|
Cash Flow from Operations2 |
at least $11,000 |
|
Capital Expenditures2 |
~$1,500 |
|
Shareholder Dividends2 |
~$1,550 |
|
Weighted Average Shares Outstanding (millions)2 |
282 to 286 |
|
|
|
|
2024 Evernorth Metrics |
|
|
Adjusted Income from Operations, Pre-Tax1,2 |
at least $7,000 |
|
|
|
|
2024 Cigna Healthcare Metrics |
|
|
Adjusted Income from Operations, Pre-Tax1,2 |
at least $4,750 |
|
Medical Care Ratio2,5 |
81.7% to 82.7% |
|
Total Medical Customers2,6 |
~19.3M |
|
The foregoing statements represent
the Company’s current estimates of The Cigna Group's 2024 consolidated and segment adjusted income from operations1,2
and other key metrics as of the date of this release. Actual results may differ materially depending on a number of factors. Investors
are urged to read the Cautionary Note Regarding Forward-Looking Statements included in this release. Management does not assume any obligation
to update these estimates.
This quarterly earnings
release and the Quarterly Financial Supplement are available on The Cigna Group’s website in the Investor Relations section (https://investors.thecignagroup.com/overview/default.aspx).
Management will be hosting a conference call to review full year 2023 results and discuss full year 2024 outlook beginning today at 8:30
a.m. ET. A link to the conference call is available in the Investor Relations section of The Cigna Group's website located at https://investors.thecignagroup.com/events-and-presentations/default.aspx.
The call-in numbers for the conference call are
as follows:
Live Call
(888) 566-1889 (Domestic)
(773) 799-3989 (International)
Passcode: 2022024
Replay
(800) 839-9317 (Domestic)
(203) 369-3605 (International)
It is strongly suggested you dial
in to the conference call by 8:15 a.m. ET.
About The Cigna Group
The Cigna
Group (NYSE: CI) is a global health company committed to creating a better future built on the vitality of every individual and every
community. We relentlessly challenge ourselves to partner and innovate solutions for better health. The Cigna Group includes products
and services marketed under Evernorth Health Services, Cigna Healthcare, or its subsidiaries. The Cigna
Group maintains sales capabilities in more than 30 countries and jurisdictions, and has approximately 165 million customer relationships
around the world. Learn more at thecignagroup.com.
Notes:
- Adjusted income (loss) from operations
is a principal financial measure of profitability used by The Cigna Group’s management because it presents the underlying results
of operations of the Company’s businesses and permits analysis of trends in underlying revenue, expenses and shareholders’
net income. Adjusted income from operations is defined as shareholders’ net income (or income before income taxes less pre-tax income
(loss) attributable to noncontrolling interests for the segment metric) excluding net realized investment results, amortization of acquired
intangible assets and special items. The Cigna Group’s share of certain realized investment results of its joint ventures reported
in the Cigna Healthcare segment using the equity method of accounting are also excluded. Special items are matters that management believes
are not representative of the underlying results of operations due to their nature or size. Adjusted income (loss) from operations is
measured on an after-tax basis for consolidated results and on a pre-tax basis for segment results. Consolidated adjusted income (loss)
from operations is not determined in accordance with GAAP and should not be viewed as a substitute for the most directly comparable GAAP
measure, shareholders’ net income. See Exhibit 1 for a reconciliation of consolidated adjusted income from operations to shareholders’
net income.
- Management is not able to provide
a reconciliation of adjusted income from operations to shareholders’ net income (loss), adjusted revenues to total revenues, adjusted
SG&A expense ratio to SG&A expense ratio, or adjusted effective tax rate to effective tax rate, on a forward-looking basis because
it is unable to predict, without unreasonable effort, certain components thereof including (i) future net realized investment results
(from equity method investments with respect to adjusted revenues) and (ii) future special items. These items are inherently uncertain
and depend on various factors, many of which are beyond The Cigna Group’s control. As such, any associated estimate and its impact
on shareholders’ net income and total revenues could vary materially.
The Company’s outlook
excludes the potential effects of any other business combinations that may occur after the date of this earnings release. The Company’s
outlook includes the potential effects of expected future share repurchases and anticipated 2024 dividends.
As announced in January 2021,
The Cigna Group currently intends to pay regular quarterly dividends, with future declarations subject to approval by its Board of Directors
and the Board’s determination that the declaration of dividends remains in the best interests of The Cigna Group and its shareholders.
The decision of whether to pay future dividends and the amount of any such dividends will be based on the Company’s financial position,
results of operations, cash flows, capital requirements, the requirements of applicable law and any other factors the Board of Directors
may deem relevant.
The timing and actual number
of shares repurchased will depend on a variety of factors, including price, general business and market conditions, and alternate uses
of capital. The share repurchase program may be effected through open market purchases in compliance with Rule 10b-18 under the Securities
Exchange Act of 1934, as amended, including through Rule 10b5-1 trading plans, or privately negotiated transactions. The program may be
suspended or discontinued at any time.
- Effective January 1, 2023, The
Cigna Group adopted ASU 2018-12, Targeted Improvements to the Accounting for Long-Duration Contracts, and related amendments. Prior year
results have been restated to reflect the adoption of the new accounting guidance.
- Adjusted revenues is used by The
Cigna Group’s management because it permits analysis of trends in underlying revenue. The Company defines adjusted revenues as total
revenues excluding the following adjustments: special items and The Cigna Group's share of certain realized investment results of its
joint ventures reported in the Cigna Healthcare segment using the equity method of accounting. Special items are matters that management
believes are not representative of the underlying results of operations due to their nature or size. We exclude these items from this
measure because management believes they are not indicative of past or future underlying performance of the business. Adjusted revenues
is not determined in accordance with GAAP and should not be viewed as a substitute for the most directly comparable GAAP measure, total
revenues. See Exhibit 1 for a reconciliation of consolidated adjusted revenues to total revenues.
- Operating ratios are defined as
follows:
| • | The Cigna Healthcare medical care ratio (“MCR”) represents medical
costs as a percentage of premiums for all Cigna Healthcare risk products provided through guaranteed cost or experience-rated funding
arrangements. |
| • | SG&A expense ratio on a GAAP basis for the fourth quarter 2023 represents
enterprise selling, general and administrative expenses of $4,062 million as a percentage of total revenue of $51.1 billion at a consolidated
level. SG&A expense ratio on a GAAP basis for the fourth quarter 2022 represents enterprise selling, general and administrative expenses
of $3,484 million as a percentage of total revenue of $45.8 billion at a consolidated level. |
| • | SG&A expense ratio on a GAAP basis for the full year 2023 represents enterprise
selling, general and administrative expenses of $14,822 million as a percentage of total revenue of $195.3 billion at a consolidated level.
SG&A expense ratio on a GAAP basis for the full year 2022 represents enterprise selling, general and administrative expenses of $13,174
million as a percentage of total revenue of $180.5 billion at a consolidated level. |
| • | Adjusted SG&A expense ratio for the fourth quarter 2023 represents enterprise
selling, general and administrative expenses of $3,785 million excluding special items of $277 million as a percentage of adjusted revenue
at a consolidated level. Adjusted SG&A expense ratio for the |
fourth quarter 2022 represents
enterprise selling, general and administrative expenses of $3,461 million excluding special items of $23 million as a percentage of adjusted
revenue at a consolidated level.
| • | Adjusted SG&A expense ratio for the full year 2023 represents enterprise
selling, general and administrative expenses of $14,324 million excluding special items of $498 million as a percentage of adjusted revenue
at a consolidated level. Adjusted SG&A expense ratio for the full year 2022 represents enterprise selling, general and administrative
expenses of $13,045 million excluding special items of $129 million as a percentage of adjusted revenue at a consolidated level. |
- Customer relationships are defined
as follows:
| • | Total medical customers includes individuals in the Cigna Healthcare segment
who meet any one of the following criteria: are covered under a medical insurance policy, managed care arrangement, or service agreement
issued by Cigna Healthcare; have access to Cigna Healthcare's provider network for covered services under their medical plan; or have
medical claims that are administered by Cigna Healthcare. |
| • | During the fourth quarter of 2023, the U.S. Commercial and U.S. Government operating segments combined to form the U.S. Healthcare
operating segment. Information presented for year ended December 31, 2022 has been restated to conform to the new operating segment presentation. |
| • | International Health medical customers excludes medical customers served by
less than 100% owned subsidiaries, as well as certain customers served by our third-party administrator. International Health customers
as of December 31, 2023 reflect the transition of certain runoff business to Other Operations beginning January 1, 2023. |
| • | Effective January 1, 2023, total pharmacy customers have been updated to reflect
customer filled prescriptions through Inside Rx. Previously these customers had been estimated based on active customers over a period
of time. Total pharmacy customers for prior periods have been restated to reflect this change. |
| • | Behavioral care and total customer relationships as of December 31, 2022 excluding
the impact of the supplemental behavioral coverage contract with New York Life were 24,696 thousand and 157,876 thousand, respectively.
|
- Adjusted margin, pre-tax, is calculated
by dividing adjusted income (loss) from operations, pre-tax by adjusted revenues for each segment.
- The Cigna Group owns noncontrolling
interests in certain operating joint ventures. As such, the adjusted revenues for the Cigna Healthcare segment only include the Company’s
share of the joint ventures’ earnings reported in Fees and Other Revenues using the equity method of accounting under GAAP.
- Medical costs payable within the
Cigna Healthcare segment are presented net of reinsurance and other recoverables. The gross medical costs payable balance was $5.09 billion
as of December 31, 2023, $5.32 billion as of September 30, 2023, and $4.18 billion as of December 31, 2022.
- On July 1, 2022, the Company completed
the sale of its life, accident and supplemental benefits businesses in six countries (Hong Kong, Indonesia, New Zealand, South Korea,
Taiwan and Thailand) to Chubb INA Holdings, Inc. ("Chubb") for approximately $5.4 billion in cash (the "Chubb transaction").
In December 2022, the Company divested its ownership interest in a joint venture in Türkiye.
- The measure “adjusted effective
tax rate” is not determined in accordance with GAAP and should not be viewed as a substitute for the most directly comparable GAAP
measure, “consolidated effective tax rate”. We define adjusted effective tax rate as the consolidated income tax rate applicable
to the Company’s pre-tax income excluding pre-tax income (loss) attributable to noncontrolling interests, net realized investment
results, amortization of acquired intangible assets, and special items. The Cigna Group's share of certain realized investment results
of its joint ventures reported in the Cigna Healthcare segment using the equity method of accounting are also excluded. Management is
not able to provide a reconciliation to the consolidated effective tax rate on a forward-looking basis because we are unable to predict,
without unreasonable effort, certain components thereof including (i) future net realized investment results and (ii) future special items.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This press release, and oral statements
made in connection with this release, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform
Act of 1995. Forward-looking statements are based on The Cigna Group's current expectations and projections about future trends, events
and uncertainties. These statements are not historical facts. Forward-looking statements may include, among others, statements concerning
our projected adjusted income from operations outlook for 2024 on a consolidated, per share, and segment basis; projected adjusted revenue
outlook for 2024; projected capital expenditures for 2024; projected total medical customer growth over year end 2023; projected medical
care and adjusted SG&A expense ratios; projected consolidated adjusted effective tax rate; projected cash flow from operations; future
dividends, including projected shareholder dividends for 2024; projected weighted average shares outstanding; future financial or operating
performance, including our ability to improve the health and vitality of those we serve; future growth, business strategy and strategic
or operational initiatives; economic, regulatory or competitive environments, particularly with respect to the pace and extent of change
in these areas and the impact of the developing inflationary and interest rate pressures; capital deployment plans and amounts available
for future deployment; our prospects for growth in the coming years; the impact of revised accounting rules related to accounting for
long-duration contracts; and other statements regarding The Cigna Group’s future beliefs, expectations, plans, intentions, liquidity,
cash flows, financial condition or performance. You may identify forward-looking statements by the use of words such as “believe,”
“expect,” “project,” “plan,” “intend,” “anticipate,” “estimate,”
“predict,” “potential,” “may,” “should,” “will” or other words or expressions
of similar meaning, although not all forward-looking statements contain such terms.
Forward-looking statements are subject to risks and uncertainties,
both known and unknown, that could cause actual results to differ materially from those expressed or implied in forward-looking statements.
Such risks and uncertainties include, but are not limited to: our ability to achieve our strategic and operational initiatives; our ability
to adapt to changes in an evolving and rapidly changing industry; our ability to compete effectively, differentiate our products and services
from those of our competitors and maintain or increase market share; price competition, inflation and other pressures that could compress
our margins or result in premiums that are insufficient to cover the cost of services delivered to our customers; the potential for actual
claims to exceed our estimates related to expected medical claims; our ability to develop and maintain satisfactory relationships with
physicians, hospitals, other health service providers and with producers and consultants; our ability to maintain relationships with one
or more key pharmaceutical manufacturers or if payments made or discounts provided decline; changes in the pharmacy provider marketplace
or pharmacy networks; changes in drug pricing or industry pricing benchmarks; our ability to invest in and properly maintain our information
technology and other business systems; our ability to prevent or contain effects of potential cyberattack or other privacy or data security
incidents; risks related to our use of artificial intelligence and machine learning; political, legal, operational, regulatory, economic
and other risks that could affect our multinational operations, including currency exchange rates; risks related to strategic transactions
and realization of the expected benefits of such transactions, as well as integration or separation difficulties or underperformance relative
to expectations; dependence on success of relationships with third parties; risk of significant disruption within our operations or among
key suppliers or third parties; potential liability in connection with managing medical practices and operating pharmacies, onsite clinics
and other types of medical facilities; the substantial level of government regulation over our business and the potential effects of new
laws or regulations or changes in existing laws or regulations; uncertainties surrounding participation in government-sponsored programs
such as Medicare; the outcome of litigation, regulatory audits and investigations; compliance with applicable privacy, security and data
laws, regulations and standards; potential failure of our prevention, detection and control systems; unfavorable economic and market conditions,
the risk of a recession or other economic downturn and resulting impact on employment metrics, stock market or changes in interest rates
and risks related to a downgrade in financial strength ratings of our insurance subsidiaries; the impact of our significant indebtedness
and the potential for further indebtedness in the future; credit risk related to our reinsurers; as well as more specific risks and uncertainties
discussed in our most recent report on Form 10-K and subsequent reports on Forms 10-Q and 8-K available through the Investor Relations
section of www.thecignagroup.com. You should not place undue reliance on forward-looking statements, which speak only as of the date they
are made, are not guarantees of future performance or results, and are subject to risks, uncertainties and assumptions that are difficult
to predict or quantify. The Cigna Group undertakes no obligation to update or revise any forward-looking statement, whether as a result
of new information, future events or otherwise, except as may be required by law.
THE CIGNA GROUP |
Exhibit 1 |
COMPARATIVE SUMMARY OF FINANCIAL RESULTS (unaudited) |
| |
| |
| |
| |
| |
| |
|
| |
| |
Three Months Ended | |
| |
Years Ended |
| |
| |
December
31, | |
| |
December
31, |
(Dollars in millions, except per share
amounts) | |
| |
2023 | |
| |
2022
(1) | |
| |
2023 | |
| |
2022
(1) |
| |
| |
| |
| |
| |
| |
| |
| |
|
REVENUES | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Pharmacy revenues | |
| | | |
$ | 36,604 | | |
| | | |
$ | 33,135 | | |
| | | |
$ | 137,243 | | |
| | | |
$ | 128,566 | |
Premiums | |
| | | |
| 11,175 | | |
| | | |
| 9,548 | | |
| | | |
| 44,237 | | |
| | | |
| 39,916 | |
Fees and other revenues | |
| | | |
| 3,045 | | |
| | | |
| 2,858 | | |
| | | |
| 12,619 | | |
| | | |
| 10,881 | |
Net investment income | |
| | | |
| 290 | | |
| | | |
| 212 | | |
| | | |
| 1,166 | | |
| | | |
| 1,155 | |
Total Revenues | |
| | | |
| 51,114 | | |
| | | |
| 45,753 | | |
| | | |
| 195,265 | | |
| | | |
| 180,518 | |
Net realized investment
results from certain equity method investments | |
| | | |
| 35 | | |
| | | |
| (8 | ) | |
| | | |
| 57 | | |
| | | |
| 126 | |
Adjusted
revenues (2) | |
| | | |
$ | 51,149 | | |
| | | |
$ | 45,745 | | |
| | | |
$ | 195,322 | | |
| | | |
$ | 180,644 | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Shareholders' net income | |
| | | |
$ | 1,029 | | |
| | | |
$ | 1,193 | | |
| | | |
$ | 5,164 | | |
| | | |
$ | 6,704 | |
Pre-tax adjusted income (loss) from operations
by segment | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Evernorth Health Services | |
| | | |
$ | 1,890 | | |
| | | |
$ | 1,725 | | |
| | | |
$ | 6,442 | | |
| | | |
$ | 6,127 | |
Cigna Healthcare | |
| | | |
| 969 | | |
| | | |
| 517 | | |
| | | |
| 4,478 | | |
| | | |
| 4,099 | |
Corporate and Other
Operations | |
| | | |
| (400 | ) | |
| | | |
| (375 | ) | |
| | | |
| (1,602 | ) | |
| | | |
| (957 | ) |
Consolidated pre-tax
adjusted income from operations | |
| | | |
| 2,459 | | |
| | | |
| 1,867 | | |
| | | |
| 9,318 | | |
| | | |
| 9,269 | |
Adjusted income
tax expense | |
| | | |
| (460 | ) | |
| | | |
| (334 | ) | |
| | | |
| (1,870 | ) | |
| | | |
| (1,956 | ) |
Consolidated after-tax
adjusted income from operations | |
| | | |
$ | 1,999 | | |
| | | |
$ | 1,533 | | |
| | | |
$ | 7,448 | | |
| | | |
$ | 7,313 | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Weighted average shares (in thousands) | |
| | | |
| 294,565 | | |
| | | |
| 305,413 | | |
| | | |
| 296,882 | | |
| | | |
| 313,065 | |
Common shares outstanding (in thousands) | |
| | | |
| | | |
| | | |
| | | |
| | | |
| 292,504 | | |
| | | |
| 298,676 | |
SHAREHOLDERS' EQUITY at December 31, | |
| | | |
| | | |
| | | |
| | | |
| | | |
$ | 46,223 | | |
| | | |
$ | 44,675 | |
SHAREHOLDERS' EQUITY PER SHARE at December
31, | |
| | | |
| | | |
| | | |
| | | |
| | | |
$ | 158.03 | | |
| | | |
$ | 149.58 | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| |
| Three
Months Ended | | |
| Years
Ended |
| |
| December
31, | | |
| December
31, |
| |
| 2023 | | |
| 2022
(1) | | |
| 2023 | | |
| 2022
(1) | |
(Dollars in millions,
except per share amounts) | |
| Pre-tax | | |
| After-tax | | |
| Pre-tax | | |
| After-tax | | |
| Pre-tax | | |
| After-tax | | |
| Pre-tax | | |
| After-tax | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
SHAREHOLDERS’ NET INCOME | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Shareholders' net income | |
| | | |
$ | 1,029 | | |
| | | |
$ | 1,193 | | |
| | | |
$ | 5,164 | | |
| | | |
$ | 6,704 | |
Adjustments to reconcile adjusted income from operations | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Net realized
investment losses (gains) (3) | |
$ | 69 | | |
| 58 | | |
$ | (14 | ) | |
| (17 | ) | |
$ | 135 | | |
| 114 | | |
$ | 613 | | |
| 496 | |
Amortization of acquired intangible assets | |
| 451 | | |
| 360 | | |
| 457 | | |
| 284 | | |
| 1,819 | | |
| 1,413 | | |
| 1,876 | | |
| 1,345 | |
Special Items | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Loss (gain) on sale of businesses | |
| 1,478 | | |
| 1,410 | | |
| 73 | | |
| 56 | | |
| 1,499 | | |
| 1,429 | | |
| (1,662 | ) | |
| (1,332 | ) |
Charge for organizational efficiency plan | |
| 252 | | |
| 193 | | |
| — | | |
| — | | |
| 252 | | |
| 193 | | |
| 22 | | |
| 17 | |
Charges (benefits) associated with litigation matters | |
| — | | |
| — | | |
| — | | |
| — | | |
| 201 | | |
| 171 | | |
| (28 | ) | |
| (20 | ) |
Integration and transaction-related costs | |
| 25 | | |
| 20 | | |
| 23 | | |
| 17 | | |
| 45 | | |
| 35 | | |
| 135 | | |
| 103 | |
Deferred tax (benefits),
net | |
| — | | |
| (1,071 | ) | |
| — | | |
| — | | |
| — | | |
| (1,071 | ) | |
| — | | |
| — | |
Adjusted
income from operations (4) | |
| | | |
$ | 1,999 | | |
| | | |
$ | 1,533 | | |
| | | |
$ | 7,448 | | |
| | | |
$ | 7,313 | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
DILUTED EARNINGS PER SHARE | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Shareholders' net income | |
| | | |
$ | 3.49 | | |
| | | |
$ | 3.91 | | |
| | | |
$ | 17.39 | | |
| | | |
$ | 21.41 | |
Adjustments to reconcile to adjusted income from operations | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Net realized
investment losses (gains) (3) | |
$ | 0.23 | | |
| 0.20 | | |
$ | (0.05 | ) | |
| (0.06 | ) | |
$ | 0.45 | | |
| 0.38 | | |
$ | 1.96 | | |
| 1.59 | |
Amortization of acquired intangible assets | |
| 1.53 | | |
| 1.22 | | |
| 1.50 | | |
| 0.93 | | |
| 6.13 | | |
| 4.77 | | |
| 5.99 | | |
| 4.30 | |
Special Items | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Loss (gain) on sale of businesses | |
| 5.02 | | |
| 4.79 | | |
| 0.23 | | |
| 0.18 | | |
| 5.05 | | |
| 4.81 | | |
| (5.31 | ) | |
| (4.26 | ) |
Charge for organizational efficiency plan | |
| 0.86 | | |
| 0.66 | | |
| — | | |
| — | | |
| 0.85 | | |
| 0.65 | | |
| 0.07 | | |
| 0.05 | |
Charges (benefits) associated with litigation matters | |
| — | | |
| — | | |
| — | | |
| — | | |
| 0.68 | | |
| 0.58 | | |
| (0.09 | ) | |
| (0.06 | ) |
Integration and transaction-related costs | |
| 0.08 | | |
| 0.07 | | |
| 0.08 | | |
| 0.06 | | |
| 0.15 | | |
| 0.12 | | |
| 0.43 | | |
| 0.33 | |
Deferred tax (benefits),
net | |
| — | | |
| (3.64 | ) | |
| — | | |
| — | | |
| — | | |
| (3.61 | ) | |
| — | | |
| — | |
Adjusted
income from operations (4) | |
| | | |
$ | 6.79 | | |
| | | |
$ | 5.02 | | |
| | | |
$ | 25.09 | | |
| | | |
$ | 23.36 | |
(1) Effective January 1, 2023,
The Cigna Group adopted ASU 2018-12, Targeted Improvements to the Accounting for Long-Duration Contracts, and related amendments. Prior
year results have been restated to reflect the adoption of the new accounting guidance. Please refer to the Summary of Significant Accounting
Policies footnote in The Cigna Group’s Form 10-K for the period ended December 31, 2023, expected to be filed on February 29,
2024, for additional details.
(2) Adjusted revenues is defined
as total revenues excluding the following adjustments: special items and The Cigna Group’s share of certain realized investment
results of its joint ventures reported in the Cigna Healthcare segment using the equity method of accounting. These items are excluded
because they are not indicative of past or future underlying performance of our businesses.
(3) Includes The Cigna Group’s
share of certain realized investments results of its joint ventures reported in the Cigna Healthcare segment using the equity method
of accounting.
(4) Adjusted income (loss) from operations
is defined as shareholders’ net income (or income before income taxes less pre-tax income (loss) attributable to noncontrolling
interests for the segment metric) excluding the following adjustments: net realized investment results, amortization of acquired intangible
assets and special items. The Cigna Group’s share of certain realized investment results of its joint ventures reported in the
Cigna Healthcare segment using the equity method of accounting are also excluded.
v3.24.0.1
X |
- DefinitionBoolean flag that is true when the XBRL content amends previously-filed or accepted submission.
+ References
+ Details
Name: |
dei_AmendmentFlag |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionFor the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.
+ References
+ Details
Name: |
dei_DocumentPeriodEndDate |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:dateItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.
+ References
+ Details
Name: |
dei_DocumentType |
Namespace Prefix: |
dei_ |
Data Type: |
dei:submissionTypeItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAddress Line 1 such as Attn, Building Name, Street Name
+ References
+ Details
Name: |
dei_EntityAddressAddressLine1 |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- Definition
+ References
+ Details
Name: |
dei_EntityAddressCityOrTown |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionCode for the postal or zip code
+ References
+ Details
Name: |
dei_EntityAddressPostalZipCode |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionName of the state or province.
+ References
+ Details
Name: |
dei_EntityAddressStateOrProvince |
Namespace Prefix: |
dei_ |
Data Type: |
dei:stateOrProvinceItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionA unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b-2
+ Details
Name: |
dei_EntityCentralIndexKey |
Namespace Prefix: |
dei_ |
Data Type: |
dei:centralIndexKeyItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionIndicate if registrant meets the emerging growth company criteria.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b-2
+ Details
Name: |
dei_EntityEmergingGrowthCompany |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionCommission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.
+ References
+ Details
Name: |
dei_EntityFileNumber |
Namespace Prefix: |
dei_ |
Data Type: |
dei:fileNumberItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTwo-character EDGAR code representing the state or country of incorporation.
+ References
+ Details
Name: |
dei_EntityIncorporationStateCountryCode |
Namespace Prefix: |
dei_ |
Data Type: |
dei:edgarStateCountryItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b-2
+ Details
Name: |
dei_EntityRegistrantName |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b-2
+ Details
Name: |
dei_EntityTaxIdentificationNumber |
Namespace Prefix: |
dei_ |
Data Type: |
dei:employerIdItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionLocal phone number for entity.
+ References
+ Details
Name: |
dei_LocalPhoneNumber |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionBoolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 13e -Subsection 4c
+ Details
Name: |
dei_PreCommencementIssuerTenderOffer |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionBoolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 14d -Subsection 2b
+ Details
Name: |
dei_PreCommencementTenderOffer |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTitle of a 12(b) registered security.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b
+ Details
Name: |
dei_Security12bTitle |
Namespace Prefix: |
dei_ |
Data Type: |
dei:securityTitleItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionName of the Exchange on which a security is registered.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection d1-1
+ Details
Name: |
dei_SecurityExchangeName |
Namespace Prefix: |
dei_ |
Data Type: |
dei:edgarExchangeCodeItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionBoolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Section 14a -Number 240 -Subsection 12
+ Details
Name: |
dei_SolicitingMaterial |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTrading symbol of an instrument as listed on an exchange.
+ References
+ Details
Name: |
dei_TradingSymbol |
Namespace Prefix: |
dei_ |
Data Type: |
dei:tradingSymbolItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionBoolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Securities Act -Number 230 -Section 425
+ Details
Name: |
dei_WrittenCommunications |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
Grafico Azioni Cigna (NYSE:CI)
Storico
Da Apr 2024 a Mag 2024
Grafico Azioni Cigna (NYSE:CI)
Storico
Da Mag 2023 a Mag 2024