Analysis of Debt
Total Debt (Carrying Amount)
Cigna Group, balance sheet: debt
US$ in millions
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
- Short-term debt
- The short-term debt shows fluctuations over the observed five-year period. It decreased from 3,374 million USD in 2020 to 2,545 million USD in 2021, indicating a significant reduction in short-term liabilities within that year. However, this was followed by an increase to 2,993 million USD in 2022. In subsequent years, the short-term debt slightly decreased to 2,775 million USD in 2023 but then rose again to 3,035 million USD in 2024. Overall, the short-term debt exhibits a somewhat volatile but generally stable pattern around the 3,000 million USD mark after an initial decline.
- Long-term debt
- The long-term debt demonstrates a different pattern. There was an increase from 29,545 million USD in 2020 to 31,125 million USD in 2021, the highest level during the period. Following this peak, the long-term debt decreased notably to 28,100 million USD in 2022. Since then, it stabilized with minor increases to 28,155 million USD in 2023 and 28,937 million USD in 2024. This trend suggests some active management of long-term liabilities, with a focus on reduction after the 2021 peak and modest growth in recent years.
- Total debt (carrying amount)
- Total debt reflects the combined changes in short-term and long-term debt. The aggregate carrying amount rose from 32,919 million USD in 2020 to 33,670 million USD in 2021, coinciding with the increase in long-term debt in that year. There was then a consistent decline in total debt over 2022 and 2023, reaching 30,930 million USD. In 2024, total debt increased again to 31,972 million USD, reflecting the simultaneous rise in both short-term and long-term debt levels. The fluctuations in total debt indicate ongoing adjustments in the company's capital structure, with efforts to reduce overall liabilities following the peak in 2021, but a moderate rebound in the most recent year.
Total Debt (Fair Value)
| Dec 31, 2024 | |
|---|---|
| Selected Financial Data (US$ in millions) | |
| Commercial paper | 880) |
| Long-term debt, including current maturities, excluding finance leases | 28,392) |
| Finance lease liabilities | 84) |
| Total debt (fair value) | 29,356) |
| Financial Ratio | |
| Debt, fair value to carrying amount ratio | 0.92 |
Based on: 10-K (reporting date: 2024-12-31).
Weighted-average Interest Rate on Debt
Weighted-average interest rate on debt: 4.29%
| Interest rate | Debt amount1 | Interest rate × Debt amount | Weighted-average interest rate2 |
|---|---|---|---|
| 4.65% | 880) | 41) | |
| 3.25% | 897) | 29) | |
| 4.13% | 1,215) | 50) | |
| 4.50% | 1,285) | 58) | |
| 1.25% | 549) | 7) | |
| 5.69% | 699) | 40) | |
| 3.40% | 1,466) | 50) | |
| 7.88% | 259) | 20) | |
| 3.05% | 598) | 18) | |
| 4.38% | 3,790) | 166) | |
| 5.00% | 995) | 50) | |
| 2.40% | 1,386) | 33) | |
| 2.38% | 1,384) | 33) | |
| 5.13% | 745) | 38) | |
| 8.08% | 45) | 4) | |
| 5.40% | 795) | 43) | |
| 5.25% | 1,226) | 64) | |
| 6.15% | 190) | 12) | |
| 4.80% | 2,193) | 105) | |
| 3.20% | 744) | 24) | |
| 5.88% | 119) | 7) | |
| 6.13% | 485) | 30) | |
| 5.38% | 315) | 17) | |
| 4.80% | 1,469) | 71) | |
| 3.88% | 990) | 38) | |
| 4.90% | 2,971) | 146) | |
| 3.40% | 1,237) | 42) | |
| 3.40% | 1,479) | 50) | |
| 5.60% | 1,482) | 83) | |
| Total | 31,888) | 1,368) | |
| 4.29% | |||
Based on: 10-K (reporting date: 2024-12-31).
1 US$ in millions
2 Weighted-average interest rate = 100 × 1,368 ÷ 31,888 = 4.29%