Stock Analysis on Net

Cigna Group (NYSE:CI)

Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Cigna Group, consolidated income statement

US$ in millions

Microsoft Excel
12 months ended: Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Pharmacy revenues 137,243 128,566 121,413 107,769 103,099
Premiums 44,237 39,915 41,154 42,627 39,714
Fees and other revenues 12,619 10,880 9,962 8,761 9,363
Revenues from external customers 194,099 179,361 172,529 159,157 152,176
Pharmacy and other service costs (133,801) (124,834) (117,553) (103,484) (97,668)
Medical costs and other benefit expenses (36,287) (32,206) (33,562) (32,710) (30,819)
Gross profit 24,011 22,321 21,414 22,963 23,689
Net investment income 1,166 1,155 1,549 1,244 1,390
Selling, general and administrative expenses (14,822) (13,186) (13,030) (14,072) (14,053)
Amortization of acquired intangible assets (1,819) (1,876) (1,998) (1,982) (2,949)
Income from operations 8,536 8,414 7,935 8,153 8,077
Interest expense on long-term and short-term debt (1,400) (1,300) (1,300) (1,400) (1,600)
Other (46) 72 92 (38) (82)
Interest expense and other (1,446) (1,228) (1,208) (1,438) (1,682)
Debt extinguishment costs (141) (199) (2)
Gain (loss) on sale of businesses (1,499) 1,662 4,203
Net realized investment gains (losses) (78) (495) 196 149 177
Income before income taxes 5,513 8,353 6,782 10,868 6,570
Income taxes (141) (1,607) (1,367) (2,379) (1,450)
Net income 5,372 6,746 5,415 8,489 5,120
Net income attributable to noncontrolling interests (208) (78) (50) (31) (16)
Shareholders’ net income 5,164 6,668 5,365 8,458 5,104

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).

Income statement item Description The company
Revenues from external customers Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. Cigna Group revenues from external customers increased from 2021 to 2022 and from 2022 to 2023.
Income from operations The net result for the period of deducting operating expenses from operating revenues. Cigna Group income from operations increased from 2021 to 2022 and from 2022 to 2023.
Income before income taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Cigna Group income before income taxes increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.
Shareholders’ net income The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Cigna Group shareholders’ net income increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.