Balance Sheet: Liabilities and Stockholders’ Equity
The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.
Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.
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- Common-Size Balance Sheet: Assets
- Analysis of Profitability Ratios
- Analysis of Short-term (Operating) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Present Value of Free Cash Flow to Equity (FCFE)
- Net Profit Margin since 2005
- Return on Assets (ROA) since 2005
- Price to Earnings (P/E) since 2005
- Price to Sales (P/S) since 2005
- Aggregate Accruals
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Cigna Group, consolidated balance sheet: liabilities and stockholders’ equity
US$ in millions
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).
The financial data indicates varying trends in liabilities, equity, and overall financial structure over the five-year period ending December 31, 2024.
- Current Liabilities
- The current insurance and contractholder liabilities remained relatively stable, with a slight increase from 5,308 million USD in 2020 to 5,388 million USD in 2024. However, pharmacy and other service costs payable showed a significant upward trend, rising sharply from 13,347 million USD in 2020 to 28,465 million USD in 2024, indicating increased short-term operational expenses.
- Accounts payable and accrued expenses and other liabilities both exhibited growth, with accounts payable increasing steadily from 5,478 million USD to 9,294 million USD, and accrued expenses fluctuating but ultimately increasing from 8,515 million USD to 9,387 million USD.
- Short-term debt fluctuated without a consistent trend, ending slightly lower at 3,035 million USD in 2024 compared to 3,374 million USD in 2020.
- Liabilities of businesses held for sale had intermittent reporting and fluctuated notably, reflecting possible divestitures or restructuring activities. Overall, current liabilities increased substantially from 36,022 million USD in 2020 to 57,979 million USD in 2024, indicating higher short-term financial obligations.
- Non-Current Liabilities
- Non-current insurance and contractholder liabilities decreased gradually from 16,844 million USD in 2020 to 10,254 million USD in 2024, suggesting a reduction in long-term obligations related to insurance contracts.
- Deferred tax liabilities and other non-current liabilities both declined consistently, with deferred tax liabilities falling from 8,939 million USD to 6,975 million USD, and other non-current liabilities dropping from 4,629 million USD to 3,215 million USD.
- Long-term debt showed minor fluctuations but remained relatively stable, closing at 28,937 million USD in 2024 compared to 29,545 million USD in 2020.
- Separate account liabilities declined over the period, from 9,086 million USD to 7,278 million USD, reflecting a decrease in segregated funds or similar obligations.
- Non-current liabilities overall declined from 69,043 million USD to 56,659 million USD, indicating a reduction in long-term financial commitments.
- Total Liabilities
- Total liabilities saw an initial increase from 105,065 million USD in 2020 to 107,705 million USD in 2021, then a decline to 98,981 million USD in 2022, followed by an upward trend reaching 114,638 million USD in 2024. This pattern suggests fluctuating but generally increasing liabilities primarily driven by current liabilities' growth.
- Equity Components
- Common stock remained constant throughout the period at 4 million USD.
- Additional paid-in capital steadily increased from 28,975 million USD to 31,288 million USD, reflecting additional investments or retained earnings allocated to paid-in capital.
- Accumulated other comprehensive loss widened significantly from -861 million USD to -2,341 million USD, indicating growing unrealized losses or negative adjustments affecting equity.
- Retained earnings increased consistently, showing strong profitability or earnings retention, growing from 28,575 million USD to 43,519 million USD.
- Treasury stock increased in cost significantly (more negative), indicating extensive share repurchases or stock retirement activities rising from -6,372 million USD to -31,437 million USD, which may have impacted shareholder equity.
- Shareholders’ equity decreased overall from 50,321 million USD to 41,033 million USD, influenced by the substantial increase in treasury stock and accumulated losses despite growth in retained earnings and paid-in capital.
- Other noncontrolling interests rose notably from 7 million USD to 210 million USD, contributing marginally to total equity growth.
- Total equity declined from 50,328 million USD to 41,243 million USD over the period.
- Total Liabilities and Equity
- The sum of total liabilities and equity remained relatively stable, with minor fluctuations, ending at 155,881 million USD in 2024 compared to 155,451 million USD in 2020, indicating a largely balanced financial structure despite internal shifts between liabilities and equity components.
In summary, the data reveals a complex picture where current liabilities expanded significantly, particularly pharmacy and other service costs payable, while long-term liabilities decreased. Equity declined mainly due to increased treasury stock and comprehensive losses, offset partially by rising retained earnings and capital contributions. The overall financial position appears to maintain balance in total resources, but with increased leverage on the short-term obligations and reduction in net equity.