Cigna Group
For the period ended Dec 31, 2024. Filed Feb 27, 2025.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Feb 27, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Accumulated Other Comprehensive Income (Loss)
Note 15 – Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) includes net unrealized appreciation (depreciation) on securities and derivatives, change in discount rate and instrument-specific credit risk for certain long-duration insurance contractholder liabilities (Note 9 to the Consolidated Financial Statements), foreign currency translation, and the net postretirement benefits liability adjustment. AOCI includes the Company's share from unconsolidated entities reported on the equity method. Generally, tax effects in AOCI are established at the currently enacted tax rate and reclassified to Shareholders' net income in the same period that the related pre-tax AOCI reclassifications are recognized.
Shareholders' other comprehensive loss, net of tax, for the years ended 2024, 2023 and 2022 is primarily attributable to the change in discount rates for certain long-duration liabilities and unrealized changes in the market values of securities and derivatives, including the impacts from unconsolidated entities reported on the equity method.
Changes in the components of AOCI were as follows:
| For the Years Ended December 31, | |||
|---|---|---|---|
| (In millions) | 2024 | 2023 | 2022 |
| Securities and Derivatives | |||
| Beginning balance | $171 | $(332) | $1,266 |
| Unrealized appreciation (depreciation) on securities and derivatives, before reclassification, net of tax (expense) benefit of $(207), $(146) and $467, respectively | 601 | 474 | (1,807) |
| Amounts reclassified to Shareholders' net income, net of tax (benefit) of $(16), $(8) and $(48), respectively | 60 | 29 | 209 |
| Other comprehensive income (loss), net of tax | 661 | 503 | (1,598) |
| Ending balance | $832 | $171 | $(332) |
| Net long-duration insurance and contractholder liabilities measurement adjustments | |||
| Beginning balance | $(971) | $(256) | $(765) |
| Net current period change in discount rate for certain long-duration liabilities, net of tax benefit (expense) of $357, $222 and $(122), respectively | (1,044) | (691) | 520 |
| Net current period change in instrument-specific credit risk for market risk benefits, net of tax benefit of $6, $5 and $3, respectively | (23) | (24) | (11) |
| Other comprehensive (loss) income, net of tax | (1,067) | (715) | 509 |
| Ending balance | $(2,038) | $(971) | $(256) |
| Translation of foreign currencies | |||
| Beginning balance | $(149) | $(154) | $(233) |
| Net translation of foreign currencies, before reclassification, net of tax benefit (expense) of $2, $5 and $(33), respectively | (60) | 5 | (310) |
| Amounts reclassified to Shareholders' net income, net of tax expense of $—, $— and $29, respectively | 11 | — | 387 |
| Other comprehensive (loss) income, net of tax | (49) | 5 | 77 |
| Less: Net translation (loss) on foreign currencies attributable to noncontrolling interests | — | — | (2) |
| Shareholders' other comprehensive (loss) income, net of tax | (49) | 5 | 79 |
| Ending balance | $(198) | $(149) | $(154) |
| Postretirement benefits liability | |||
| Beginning balance | $(915) | $(916) | $(1,336) |
| Amounts reclassified to Shareholders' net income, net of tax (benefit) of $(7), $(11) and $(16), respectively | 22 | 35 | 48 |
| Net change due to valuation update, before reclassification, net of tax benefit (expense) of $14, $12 and $(115), respectively | (44) | (34) | 372 |
| Other comprehensive (loss) income, net of tax | (22) | 1 | 420 |
| Ending balance | $(937) | $(915) | $(916) |
| Total Accumulated other comprehensive loss | |||
| Beginning balance | $(1,864) | $(1,658) | $(1,068) |
| Shareholders' other comprehensive (loss), net of tax benefit of $149, $79 and $165, respectively | (477) | (206) | (590) |
| Ending balance | $(2,341) | $(1,864) | $(1,658) |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.