v3.24.3
Segment Information
 9 Months Ended
Sep. 30, 2024
Segment Reporting [Abstract]  
Segment Information
Note 17 – Segment Information
See Note 1 to the Consolidated Financial Statements for a description of our segments. A description of our basis for reporting segment operating results is outlined below. Intersegment revenues primarily reflect pharmacy and care services transactions between the Evernorth Health Services and Cigna Healthcare segments.
The Company uses "pre-tax adjusted income (loss) from operations" and "adjusted revenues" as its principal financial measures of segment operating performance because management believes these metrics reflect the underlying results of business operations and facilitate analysis of trends in underlying revenue, expenses and profitability. We define pre-tax adjusted income (loss) from operations as income (loss) before income taxes excluding pre-tax income (loss) attributable to noncontrolling interests, net realized investment results, amortization of acquired intangible assets and special items. The Cigna Group's share of certain realized investment results of its joint ventures reported in the Cigna Healthcare segment using the equity method of accounting are also excluded. Special items are matters that management believes are not representative of the underlying results of operations due to their nature or size. Adjusted income (loss) from operations is measured on an after-tax basis for consolidated results and on a pre-tax basis for segment results.
The Company defines adjusted revenues as total revenues excluding the following adjustments: special items and The Cigna Group's share of certain realized investment results of its joint ventures reported in the Cigna Healthcare segment using the equity method of accounting. Special items are matters that management believes are not representative of the underlying results of operations due to their nature or size. We exclude these items from this measure because management believes they are not indicative of past or future underlying performance of the business.
The Company does not report total assets by segment because this is not a metric used to allocate resources or evaluate segment performance.
The following table presents the special items charges (benefits) recorded by the Company, as well as the respective financial statement line items impacted:
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
(In millions)Pre-taxAfter-taxPre-taxAfter-taxPre-taxAfter-taxPre-taxAfter-tax
Impairment of dividend receivable
 (Net investment income)		$182 $138 $— $— $182 $138 $— $— 
Integration and transaction-related costs
 (Selling, general and administrative expenses)		77 59 13 9 177 135 20 15 
Loss on sale of businesses87 62 21 19 106 19 21 19 
Deferred tax expenses, net
 (Income taxes, less amount attributable to noncontrolling interests)		— 41 — — — 75 — — 
Charges associated with litigation matters
 (Selling, general and administrative expenses)		— — 201 171 — — 201 171 
Total impact from special items$346 $300 $235 $199 $465 $367 $242 $205 
Summarized segment financial information was as follows:
(In millions)
Evernorth Health Services
Cigna Healthcare
Other Operations
Corporate and Eliminations
Total
Three months ended September 30, 2024
Revenues from external customers $51,552 $11,919 $137 $1 $63,609 
Intersegment revenues1,045 1,279 18 (2,342)
Net investment (loss) income
(142)142 79 6 85 
Total revenues52,455 13,340 234 (2,335)63,694 
Net realized investment results from certain equity method investments — (177)— — (177)
Special item related to impairment of dividend receivable182 — — — 182 
Adjusted revenues$52,637 $13,163 $234 $(2,335)$63,699 
Income (loss) before income taxes
$631 $1,073 $(10)$(502)$1,192 
Pre-tax adjustments to reconcile to adjusted income from operations
(Income) attributable to noncontrolling interests
(99)— — — (99)
Net realized investment losses (gains) (1)
748 (8)4 — 744 
Amortization of acquired intangible assets414 22 — — 436 
Special items
Impairment of dividend receivable 182 — — — 182 
Integration and transaction-related costs— — — 77 77 
Loss on sale of businesses— 87 — — 87 
Pre-tax adjusted income (loss) from operations$1,876 $1,174 $(6)$(425)$2,619 
(In millions)
Evernorth Health Services
Cigna Healthcare
Other Operations
Corporate and Eliminations
Total
Three months ended September 30, 2023
Revenues from external customers $37,230 $11,426 $71 $— $48,727 
Intersegment revenues1,303 1,136 — (2,439)
Net investment income
63 176 76 6 321 
Total revenues38,596 12,738 147 (2,433)49,048 
Net realized investment results from certain equity method investments— 30 — — 30 
Adjusted revenues$38,596 $12,768 $147 $(2,433)$49,078 
Income (loss) before income taxes
$1,272 $1,019 $(3)$(448)$1,840 
Pre-tax adjustments to reconcile to adjusted income from operations
(Income) attributable to noncontrolling interests
(44)— — — (44)
Net realized investment losses (1)
1 35 8 — 44 
Amortization of acquired intangible assets443 11 — — 454 
Special items
Integration and transaction-related costs— — — 13 13 
Loss on sale of businesses— — 21 — 21 
Charges associated with litigation matters44 157 — — 201 
Pre-tax adjusted income (loss) from operations$1,716 $1,222 $26 $(435)$2,529 
(1) Includes Net realized investment losses/gains as presented in our Consolidated Statements of Income, as well as the Company's share of certain realized investment results of its joint ventures reported in the Cigna Healthcare segment using the equity method of accounting, which are presented within Fees and other revenues in our Consolidated Statements of Income.
(In millions)
Evernorth Health Services
Cigna Healthcare
Other Operations
Corporate and Eliminations
Total
Nine months ended September 30, 2024
Revenues from external customers$144,689 $35,752 $333 $2 $180,776 
Intersegment revenues3,558 3,606 63 (7,227)
Net investment (loss) income
(18)463 231 20 696 
Total revenues148,229 39,821 627 (7,205)181,472 
Net realized investment results from certain equity method investments
— (238)— — (238)
Special item related to impairment of dividend receivable182 — — — 182 
Adjusted revenues$148,411 $39,583 $627 $(7,205)$181,416 
Income (loss) before income taxes
$1,494 $3,221 $(9)$(1,446)$3,260 
Pre-tax adjustments to reconcile to adjusted income from operations
(Income) attributable to noncontrolling interests
(271)— — — (271)
Net realized investment losses (1)
2,203 359 5 — 2,567 
Amortization of acquired intangible assets1,247 32 — — 1,279 
Special items
Impairment of dividend receivable 182 — — — 182 
Integration and transaction-related costs— — — 177 177 
Loss on sale of businesses— 106 — — 106 
Pre-tax adjusted income (loss) from operations$4,855 $3,718 $(4)$(1,269)$7,300 
(In millions)
Evernorth Health Services
Cigna Healthcare
Other Operations
Corporate and Eliminations
Total
Nine months ended September 30, 2023
Revenues from external customers
$108,462 $34,581 $232 $— $143,275 
Intersegment revenues4,343 3,143 — (7,486)
Net investment income
175 454 230 17 876 
Total revenues112,980 38,178 462 (7,469)144,151 
Net realized investment results from certain equity method investments— 22 — — 22 
Adjusted revenues$112,980 $38,200 $462 $(7,469)$144,173 
Income (loss) before income taxes
$3,318 $3,252 $47 $(1,292)$5,325 
Pre-tax adjustments to reconcile to adjusted income from operations
(Income) attributable to noncontrolling interests
(140)(2)— — (142)
Net realized investment losses (1)
— 64 2 — 66 
Amortization of acquired intangible assets1,330 38 — — 1,368 
Special items
Integration and transaction-related costs— — — 20 20 
Loss on sale of businesses— — 21 — 21 
Charges associated with litigation matters44 157 — — 201 
Pre-tax adjusted income (loss) from operations$4,552 $3,509 $70 $(1,272)$6,859 
(1)Includes Net realized investment losses/gains as presented in our Consolidated Statements of Income, as well as the Company's share of certain realized investment results of its joint ventures reported in the Cigna Healthcare segment using the equity method of accounting, which are presented within Fees and other revenues in our Consolidated Statements of Income.
Revenue from external customers includes Pharmacy revenues, Premiums and Fees and other revenues. The following table presents these revenues by product, premium and service type:
Three Months Ended September 30,Nine Months Ended September 30,
(In millions)2024202320242023
Products (Pharmacy revenues) (ASC 606)
Network revenues$27,353 $16,926 $76,795 $49,080 
Home delivery and specialty revenues18,909 16,324 53,384 48,943 
Other revenues2,990 2,390 8,433 6,506 
Total Evernorth Health Services
49,252 35,640 138,612 104,529 
Total Other Operations
14 — 47 — 
Intercompany eliminations(982)(1,109)(3,238)(3,890)
Total Pharmacy revenues
48,284 34,531 135,421 100,639 
Insurance premiums (ASC 944)
Cigna Healthcare (1)
U.S. Healthcare
Employer insured4,382 4,144 13,125 12,315 
Medicare Advantage2,110 2,189 6,604 6,605 
Stop loss1,689 1,548 5,022 4,565 
Individual and Family Plans1,001 1,269 3,016 3,770 
Other1,203 927 3,681 3,091 
U.S. Healthcare
10,385 10,077 31,448 30,346 
International Health911 834 2,687 2,440 
Total Cigna Healthcare11,296 10,911 34,135 32,786 
Other122 70 285 225 
Intercompany eliminations18 17 73 51 
Total Premiums
11,436 10,998 34,493 33,062 
Services (Fees) (ASC 606)
Evernorth Health Services
3,314 2,862 9,508 8,199 
Cigna Healthcare
1,671 1,639 4,850 4,847 
Other Operations
15 1 57 3 
Other revenues267 43 509 172 
Intercompany eliminations(1,378)(1,347)(4,062)(3,647)
Total Fees and other revenues
3,889 3,198 10,862 9,574 
Total revenues from external customers$63,609 $48,727 $180,776 $143,275 
(1)Cigna Healthcare includes the U.S. Healthcare and International Health operating segments, which provide comprehensive medical and coordinated solutions to clients and customers. During the fourth quarter of 2023, the U.S. Commercial and U.S. Government operating segments merged to form the U.S. Healthcare operating segment. Information presented for the three and nine months ended September 30, 2023 has been restated to conform to the new operating segment presentation.
Financial and performance guarantees. Evernorth Health Services may also provide certain financial and performance guarantees, including a minimum level of discounts a client may receive, generic utilization rates and various service levels. Clients may be entitled to receive compensation if we fail to meet the guarantees. Actual performance is compared to the contractual guarantee for each measure throughout the period and the Company defers revenue for any estimated payouts within Accrued expenses and other liabilities (current). These estimates are adjusted and paid following the end of the annual guarantee period. Historically, adjustments to original estimates have not been material. This guarantee liability was $2.0 billion as of September 30, 2024 and $1.6 billion as of December 31, 2023.
Major customers. Revenues from a single pharmacy benefit client were approximately 16% of consolidated revenues for the three and nine months ended September 30, 2024. These amounts were reported in the Evernorth Health Services segment.

Additionally, revenues from U.S. Federal Government agencies, under a number of contracts, were approximately 10% and 11% of consolidated revenues for the three and nine months ended September 30, 2024, respectively. These amounts were reported in the Evernorth Health Services and Cigna Healthcare segments. See Note 25 in the Company's 2023 Form 10-K for prior year revenue concentration information.