Common-Size Balance Sheet: Assets
Quarterly Data
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Cigna Group, common-size consolidated balance sheet: assets (quarterly data)
Based on: 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
- Cash and Cash Equivalents
- The proportion of cash and cash equivalents relative to total assets exhibits fluctuation over the analyzed periods, ranging from a low near 2.26% in September 2020 to peaks above 6% in the last quarters of 2020 and mid-2023. This suggests periodic increases in liquidity, followed by moderate declines, indicating active cash management strategies to balance liquidity and investment.
- Investments
- Investments as a percentage of total assets remain relatively stable but low, fluctuating primarily between 0.43% and 0.97%. There is a slight downward trend observed starting from mid-2023 onward, implying a modest reduction or reallocation of investment holdings within the asset structure.
- Accounts Receivable, Net
- There is a clear upward trend in accounts receivable as a share of total assets, increasing steadily from 7.59% in early 2020 to a peak of 17.66% in September 2024, before a minor decline in the last quarter. This rising trend may reflect expanding credit sales or timing differences in collections, potentially increasing working capital requirements or indicating slower collections.
- Inventories
- Inventory levels as a percent of total assets display a gradual increase from about 1.66% in early 2020 to a notable 4.29% by December 2024. This trend, with minor oscillations, points to growing inventory holdings, which might relate to anticipated sales growth or supply chain factors.
- Other Current Assets
- The share of other current assets exhibits modest growth over the period, rising from approximately 0.6% at some points in 2020 to a peak of 1.75% in late 2024. This increase may indicate additional short-term resources or receivables categorized outside core current assets.
- Assets of Businesses Held for Sale
- The disclosed figures demonstrate an uneven presence of assets held for sale with notable values at various dates, peaking around 6.49% in December 2020 and decreasing thereafter. A resurgence appears in 2024 with increases up to 4.49%, indicating periodic asset disposals or restructuring efforts impacting the balance sheet components.
- Current Assets
- Current assets as a percentage of total assets fluctuate, showing a general upward movement especially after 2021, rising from lows near 16% to over 31% by late 2024. This suggests an increasing emphasis on short-term assets, potentially reflecting strategic liquidity adjustments or shifts in operational cycles.
- Long-Term Investments
- Long-term investments show a slow but steady decline from about 15% of total assets in early 2021 to below 10% by late 2024. This consistent decrease implies a shift away from long-term investment positioning, possibly reallocating capital or divesting longer-term holdings.
- Reinsurance Recoverables
- These assets maintain a relatively stable ratio, hovering around 3% throughout the period with a slight downward trend in the later years. Stability suggests consistent reinsurance practices without major changes in associated recoverables or risk transfer.
- Property and Equipment
- The proportion of property and equipment remains stable around 2.3% to 2.8%, without significant trend deviations. This reflects a steady asset base in fixed assets, consistent with stable operational infrastructure.
- Goodwill
- Goodwill represents a significant and stable portion of total assets, consistently near 29% to 31%. The marginal fluctuation indicates limited impairment or acquisitions affecting goodwill, signifying sustained valuation of intangible assets tied to business combinations.
- Other Intangible Assets
- These assets decline gradually as a percentage of total assets from 23.37% in early 2020 to below 19% by late 2024. This slow decrease could reflect amortization or derecognition events reducing intangible asset balances over time.
- Other Assets
- The share of other assets falls overall from near 3.9% to below 2% during the period, with some minor fluctuations. This trend may result from asset disposals or reclassification from this category.
- Separate Account Assets
- Separate account assets remain relatively consistent, oscillating slightly around 4.7% to 6%, without a clear long-term trend. Their stability suggests a steady allocation to segregated or client-related accounts.
- Assets of Businesses Held for Sale, Non-Current
- This category appears only sporadically with limited data but notably emerges at about 1.9% in late 2023, reflecting isolated strategic changes or asset sales during this later period.
- Non-Current Assets
- Non-current assets as a portion of total assets decrease notably from a high above 83% in 2021 to below 69% by the end of 2024. This decline signals a strategic shift toward a more balanced or current asset structure, possibly indicating increased liquidity or asset disposals.
- Total Assets
- The total assets base remains constant at 100%, serving as the denominator for all relative asset category proportions.