Cigna Group
For the period ended Jun 30, 2024. Filed Aug 1, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 1, 2024
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Earnings Per Share
Note 6 – Earnings Per Share
Basic and diluted earnings per share were computed as follows:
| Three Months Ended | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| June 30, 2024 · June 30, 2023 | |||||||||||
| (Shares in thousands, dollars in millions, except per share amounts) · Basic · Effect ofDilution · Diluted · Basic · Effect ofDilution · Diluted | |||||||||||
| Shareholders' net income | $1,548 | $1,548 | $1,460 | $1,460 | |||||||
| Shares: | |||||||||||
| Weighted average | 281,133 | 281,133 | 294,512 | 294,512 | |||||||
| Common stock equivalents | 2,919 | 2,919 | 2,367 | 2,367 | |||||||
| Total shares | 281,133 | 2,919 | 284,052 | 294,512 | 2,367 | 296,879 | |||||
| Earnings per share | $5.51 | $(0.06) | $5.45 | $4.96 | $(0.04) | $4.92 | |||||
| Six Months Ended | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| June 30, 2024 · June 30, 2023 | |||||||||||
| (Shares in thousands, dollars in millions, except per share amounts) · Basic · Effect ofDilution · Diluted · Basic · Effect ofDilution · Diluted | |||||||||||
| Shareholders' net income | $1,271 | $1,271 | $2,727 | $2,727 | |||||||
| Shares: | |||||||||||
| Weighted average | 283,799 | 283,799 | 295,105 | 295,105 | |||||||
| Common stock equivalents | 3,085 | 3,085 | 2,831 | 2,831 | |||||||
| Total shares | 283,799 | 3,085 | 286,884 | 295,105 | 2,831 | 297,936 | |||||
| Earnings per share | $4.48 | $(0.05) | $4.43 | $9.24 | $(0.09) | $9.15 | |||||
The following outstanding employee stock options were not included in the computation of diluted earnings per share because their effect was anti-dilutive:
| Three Months Ended June 30, | Six Months Ended June 30, | |||
|---|---|---|---|---|
| (In millions) | 2024 | 2023 | 2024 | 2023 |
| Anti-dilutive options | 0.8 | 0.9 | 1.2 | 0.9 |
The Company held approximately 122.5 million shares of common stock in treasury at June 30, 2024,107.4 million shares as of December 31, 2023 and 103.3 million shares as of June 30, 2023.
The increase in Treasury stock as of June 30, 2024 and the reduction in weighted average shares outstanding for the six months ended June 30, 2024 was driven in part by 9.3 million shares of our common stock repurchased under the accelerated share repurchase agreements (the "ASR agreements"), approximately 1.7 million of which were received in the three months ended June 30, 2024. See Note 8 for additional information.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.