Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Cigna Group, consolidated income statement

US$ in millions

12 months ended:	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Pharmacy revenues	137,243)	128,566)	121,413)	107,769)	103,099)
Premiums	44,237)	39,915)	41,154)	42,627)	39,714)
Fees and other revenues	12,619)	10,880)	9,962)	8,761)	9,363)
Revenues from external customers	194,099)	179,361)	172,529)	159,157)	152,176)
Pharmacy and other service costs	(133,801)	(124,834)	(117,553)	(103,484)	(97,668)
Medical costs and other benefit expenses	(36,287)	(32,206)	(33,562)	(32,710)	(30,819)
Gross profit	24,011)	22,321)	21,414)	22,963)	23,689)
Net investment income	1,166)	1,155)	1,549)	1,244)	1,390)
Selling, general and administrative expenses	(14,822)	(13,186)	(13,030)	(14,072)	(14,053)
Amortization of acquired intangible assets	(1,819)	(1,876)	(1,998)	(1,982)	(2,949)
Income from operations	8,536)	8,414)	7,935)	8,153)	8,077)
Interest expense on long-term and short-term debt	(1,400)	(1,300)	(1,300)	(1,400)	(1,600)
Other	(46)	72)	92)	(38)	(82)
Interest expense and other	(1,446)	(1,228)	(1,208)	(1,438)	(1,682)
Debt extinguishment costs	—)	—)	(141)	(199)	(2)
Gain (loss) on sale of businesses	(1,499)	1,662)	—)	4,203)	—)
Net realized investment gains (losses)	(78)	(495)	196)	149)	177)
Income before income taxes	5,513)	8,353)	6,782)	10,868)	6,570)
Income taxes	(141)	(1,607)	(1,367)	(2,379)	(1,450)
Net income	5,372)	6,746)	5,415)	8,489)	5,120)
Net income attributable to noncontrolling interests	(208)	(78)	(50)	(31)	(16)
Shareholders’ net income	5,164)	6,668)	5,365)	8,458)	5,104)

Based on: 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), 10-K (reporting date: 2019-12-31).

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Income statement item	Description	The company
Revenues from external customers	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	Cigna Group revenues from external customers increased from 2021 to 2022 and from 2022 to 2023.
Income from operations	The net result for the period of deducting operating expenses from operating revenues.	Cigna Group income from operations increased from 2021 to 2022 and from 2022 to 2023.
Income before income taxes	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.	Cigna Group income before income taxes increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.
Shareholders’ net income	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Cigna Group shareholders’ net income increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.

Cigna Group (NYSE:CI)

Income Statement