Common-Size Balance Sheet: Assets
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Cigna Group, common-size consolidated balance sheet: assets
Based on: 10-K (reporting date: 2024-12-31), 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).
- Cash and Cash Equivalents
- The proportion of cash and cash equivalents relative to total assets declined significantly from 6.55% in 2020 to 3.28% in 2021. It then recovered in the following years, reaching 5.12% in 2023 before slightly decreasing to 4.84% in 2024. This indicates a fluctuating liquidity position over the period.
- Investments
- Investment holdings as a percentage of total assets exhibited a steady decline, starting at 0.86% in 2020 and decreasing to 0.43% by 2024, signifying a reduced emphasis on investments in the asset portfolio.
- Accounts Receivable Categories
- Noninsurance customer receivables showed a consistent upward trend, increasing from 3.56% to 7.62% over the five-year span, suggesting growth in receivables from noninsurance activities. Pharmaceutical manufacturers receivables also rose markedly from 3.01% to 7.00%, showing an expanding exposure or more sales in this sector. Insurance customer receivables fluctuated, rising from 1.15% in 2020 to a peak of 2.06% in 2022, then dipping to 1.54% before rebounding to 2.05% in 2024. Other receivables maintained low proportions throughout, with minor variation. Notably, accounts receivable, net, increased substantially from 7.84% in 2020 to 15.54% in 2024, supporting the trend of growing receivables overall. Adjustments for receivables classified as assets of businesses held for sale appear as negative values, contributing to variability in net accounts receivable figures.
- Inventories and Other Current Assets
- Inventories steadily increased from 2.04% to 4.29%, indicating greater stock levels or inventory holdings. Other current assets also grew from 0.60% to 1.75%, which may reflect rising prepaid expenses or other short-term asset components.
- Assets of Businesses Held for Sale and Current Assets
- Assets of businesses held for sale showed intermittent values, appearing at 6.49% in 2021, decreasing in subsequent years but rising again to 4.49% in 2024, suggesting active restructuring or divestitures. Overall current assets increased significantly from 17.88% in 2020 to 31.35% by 2024, indicating a growing share of short-term assets in the total asset base.
- Long-term Investments and Reinsurance Recoverables
- Long-term investments diminished consistently from 14.96% to 9.70%, indicating strategic reducing of such investments. Reinsurance recoverables remained relatively stable with a slight decline from 3.35% to 2.81%, showing minor changes in reinsurance asset exposure.
- Property, Equipment, and Intangible Assets
- Property and equipment assets showed a gradual decline from 2.71% to 2.34%. Goodwill increased slightly from 28.72% to a peak of 31.83% in 2022, before declining to 28.46% in 2024, reflecting some adjustments in acquired intangible assets or impairments. Other intangible assets consistently decreased from 22.63% to 18.87%, indicating amortization or impairment effects.
- Other Assets
- Other assets decreased from 3.91% in 2020 to 1.79% in 2024, implying reduced holdings in miscellaneous asset categories. Separate account assets also showed a decreasing trend from 5.84% to 4.67%, indicating less investment in accounts segregated for policyholders or beneficiaries.
- Non-current Assets and Total Assets
- Non-current assets as a portion of total assets declined from 82.12% to 68.65%, contrasting with the increase in current assets over the same period, highlighting a shift toward greater liquidity or short-term asset composition. Total assets always represent 100%, serving as the denominator for all ratios.