Stock Analysis on Net

Cigna Group (NYSE:CI)

Analysis of Property, Plant and Equipment

Microsoft Excel

Property, Plant and Equipment Disclosure

Cigna Group, balance sheet: property, plant and equipment

US$ in millions

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Internal-use software 10,155 8,948 7,869 7,061 6,578
Other property and equipment 2,282 2,256 2,839 2,719 2,569
Property and equipment, cost 12,437 11,204 10,708 9,780 9,147
Accumulated depreciation and amortization (8,566) (7,430) (6,592) (5,575) (4,504)
Property and equipment, net carrying value 3,871 3,774 4,116 4,205 4,643

Based on: 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), 10-K (reporting date: 2019-12-31).

Item Description The company
Property and equipment, cost Amount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Cigna Group property and equipment, cost increased from 2021 to 2022 and from 2022 to 2023.
Property and equipment, net carrying value Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Cigna Group property and equipment, net carrying value decreased from 2021 to 2022 but then slightly increased from 2022 to 2023.

Asset Age Ratios (Summary)

Cigna Group, asset age ratios

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Average age ratio 68.88% 66.32% 61.56% 57.00% 49.24%
Estimated total useful life (years) 8 8 8 8 8
Estimated age, time elapsed since purchase (years) 6 6 5 4 4
Estimated remaining life (years) 3 3 3 3 4

Based on: 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), 10-K (reporting date: 2019-12-31).

Asset age ratio Description The company
Average age ratio As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company fixed asset base is old or new. Newer assets are likely to be more efficient. Cigna Group average age ratio of depreciable property, plant and equipment deteriorated from 2021 to 2022 and from 2022 to 2023.
Estimated total useful life Over longer time periods, this ratio is a useful measure of company depreciation policy and can be used for comparisons with competitors. Cigna Group estimated total useful life of depreciable property, plant and equipment increased from 2021 to 2022 but then slightly decreased from 2022 to 2023.
Estimated time elapsed since purchase The approximate age in years of a company fixed assets. Useful for comparison purposes. Cigna Group estimated time elapsed since purchase of depreciable property, plant and equipment deteriorated from 2021 to 2022 and from 2022 to 2023.
Estimated remaining life Cigna Group estimated remaining life of depreciable property, plant and equipment decreased from 2021 to 2022 and from 2022 to 2023.

Average Age

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Accumulated depreciation and amortization 8,566 7,430 6,592 5,575 4,504
Property and equipment, cost 12,437 11,204 10,708 9,780 9,147
Asset Age Ratio
Average age1 68.88% 66.32% 61.56% 57.00% 49.24%

Based on: 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), 10-K (reporting date: 2019-12-31).

2023 Calculations

1 Average age = 100 × Accumulated depreciation and amortization ÷ Property and equipment, cost
= 100 × 8,566 ÷ 12,437 = 68.88%

Asset age ratio Description The company
Average age As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company fixed asset base is old or new. Newer assets are likely to be more efficient. Cigna Group average age ratio of depreciable property, plant and equipment deteriorated from 2021 to 2022 and from 2022 to 2023.

Estimated Total Useful Life

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Property and equipment, cost 12,437 11,204 10,708 9,780 9,147
Property and equipment depreciation and amortization expense 1,476 1,319 1,350 1,247 1,134
Asset Age Ratio (Years)
Estimated total useful life1 8 8 8 8 8

Based on: 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), 10-K (reporting date: 2019-12-31).

2023 Calculations

1 Estimated total useful life = Property and equipment, cost ÷ Property and equipment depreciation and amortization expense
= 12,437 ÷ 1,476 = 8

Asset age ratio Description The company
Estimated total useful life Over longer time periods, this ratio is a useful measure of company depreciation policy and can be used for comparisons with competitors. Cigna Group estimated total useful life of depreciable property, plant and equipment increased from 2021 to 2022 but then slightly decreased from 2022 to 2023.

Estimated Age, Time Elapsed since Purchase

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Accumulated depreciation and amortization 8,566 7,430 6,592 5,575 4,504
Property and equipment depreciation and amortization expense 1,476 1,319 1,350 1,247 1,134
Asset Age Ratio (Years)
Time elapsed since purchase1 6 6 5 4 4

Based on: 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), 10-K (reporting date: 2019-12-31).

2023 Calculations

1 Time elapsed since purchase = Accumulated depreciation and amortization ÷ Property and equipment depreciation and amortization expense
= 8,566 ÷ 1,476 = 6

Asset age ratio Description The company
Estimated time elapsed since purchase The approximate age in years of a company fixed assets. Useful for comparison purposes. Cigna Group estimated time elapsed since purchase of depreciable property, plant and equipment deteriorated from 2021 to 2022 and from 2022 to 2023.

Estimated Remaining Life

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Property and equipment, net carrying value 3,871 3,774 4,116 4,205 4,643
Property and equipment depreciation and amortization expense 1,476 1,319 1,350 1,247 1,134
Asset Age Ratio (Years)
Estimated remaining life1 3 3 3 3 4

Based on: 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), 10-K (reporting date: 2019-12-31).

2023 Calculations

1 Estimated remaining life = Property and equipment, net carrying value ÷ Property and equipment depreciation and amortization expense
= 3,871 ÷ 1,476 = 3

Asset age ratio Description The company
Estimated remaining life Cigna Group estimated remaining life of depreciable property, plant and equipment decreased from 2021 to 2022 and from 2022 to 2023.