Cash Flow Statement
Quarterly Data
The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.
The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.
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Cigna Group, consolidated cash flow statement (quarterly data)
US$ in millions
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).
- Net Income (Loss)
- The net income displays considerable volatility over the analyzed quarters, with significant peaks notably in December 2020 and subsequent fluctuations thereafter. A notable decline occurred in the first quarter of 2024 followed by a partial recovery in the middle of 2024, indicating variability in profitability.
- Depreciation and Amortization
- Depreciation and amortization expenses show a steady incremental trend with only minor fluctuations, reflecting consistent capital asset utilization and amortization practices over time.
- Realized Investment Gains and Losses
- The realized investment gains and losses exhibit considerable variability with sharp negative and positive swings, including a substantial gain in late 2023, followed by large gains and losses in 2024, suggesting fluctuating investment performance or market conditions.
- Deferred Income Tax Benefit
- Deferred income tax benefits mostly remain negative with occasional sharp declines, including a significant negative value in late 2023, which may imply episodic tax adjustments or changes in deferred tax assets/liabilities.
- Accounts Receivable, Net
- Accounts receivable net values show sharp oscillations ranging from large negative to positive amounts, indicating notable changes in billing, collections, or credit policies across quarters, with no clear persistent trend.
- Inventories
- Inventory levels fluctuate with alternating positive and negative values, reflecting variable inventory management or demand shifts. Extreme values are observed notably in late 2021 and early 2024, signaling episodic inventory adjustments.
- Reinsurance Recoverable and Other Assets
- This category also shows pronounced volatility with both positive and negative balances scattered over time, suggesting unstable recoverables or asset revaluations possibly linked to underwriting outcomes.
- Insurance Liabilities
- Insurance liabilities present irregular changes, with some quarters exhibiting increases and others decreases, including large negative values in late 2021 and 2022, indicating fluctuations in claims reserves or underwriting provisions.
- Pharmacy and Other Service Costs Payable
- These costs generally reflect a cyclical pattern with sporadic large positive spikes in mid-2022 and 2024, suggesting variable expense recognition related to pharmacy and other service arrangements.
- Accounts Payable and Accrued Expenses
- Accounts payable and accrued expenses show alternating positive and negative values with considerable swings, indicating periods of accelerated payments or accrual reversals.
- Net Changes in Assets and Liabilities
- There is significant variability in net changes of assets and liabilities, with pronounced positive peaks in several quarters, notably December 2020 and March 2023, and sharp negative dips in others, revealing dynamic operational cash flow management.
- Adjustments to Reconcile Net Income to Cash Provided by Operating Activities
- These adjustments are highly fluctuating, showing both negative and positive extremes over the periods, which imply considerable non-cash charges or timing differences affecting operating cash flow calculations.
- Net Cash Provided by Operating Activities
- The operating cash flow demonstrates a generally positive trend with some fluctuations, including strong inflows in key quarters such as December 2020, December 2021, and early 2023. A notable dip occurred in mid-2021, with partial recovery thereafter.
- Investment Activities
- Investment-related cash flows exhibit substantial volatility:
- Proceeds and Sales
- Proceeds from investments sold fluctuate widely, including very large inflows in late 2022, indicating active portfolio repositioning.
- Purchases and Acquisitions
- Purchases and acquisitions reflect sustained investment activity with some quarters showing pronounced increases in expenditures, particularly in early 2023.
- Net Cash Used in Investing Activities
- Net investing activities cash flows generally show negative outflows with sporadic sharp inflows, notably the strong inflow in December 2020 due to divestitures, signaling strategic asset sales.
- Financing Activities
- Financing cash flows are predominantly negative across many quarters, reflecting consistent debt repayments, stock repurchases, and dividend payments. Noteworthy are occasional inflows indicative of new debt issuances or stock issuances, but these are generally outweighed by outflows. The repurchase of common stock is significant, peaking in late 2022 and early 2024, indicating aggressive capital return strategies.
- Effect of Foreign Currency Rate Changes
- The impact of foreign exchange rate changes is relatively minor compared to other cash flow components, oscillating between small positive and negative values, with no clear trend.
- Overall Cash Position Trends
- Overall, the net increase or decrease in cash and equivalents reveals considerable quarter-to-quarter volatility, with substantial increases at certain points like mid-2020 and early 2023, coupled with sharp declines in other periods such as early 2021 and mid-2024, indicating fluctuating liquidity conditions influenced by the combined effects of operating, investing, and financing activities.