Cigna Group
For the period ended Dec 31, 2023. Filed Feb 29, 2024.
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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.
FY2023 · Filed Feb 29, 2024
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Corporate
Corporate reflects amounts not allocated to operating segments, including net interest expense (defined as interest on corporate financing less net investment income on investments not supporting segment and other operations), certain litigation matters, expense associated with our frozen pension plans, charitable contributions, operating severance, certain overhead and enterprise-wide project costs and eliminations for products and services sold between segments.
| Financial Summary | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| For the Years Ended December 31, · Change Favorable (Unfavorable) · Change Favorable (Unfavorable) | |||||||||
| (In millions) · 2023 · 2022 · 2021 · 2023 vs. 2022 · 2022 vs. 2021 | |||||||||
| Pre-tax adjusted loss from operations | $(1,698) | $(1,466) | $(1,339) | $(232) | (16) | % | $(127) | (9) | % |
Pre-tax adjusted loss from operations increased 16% primarily due to an increase in the weighted average interest rate on our indebtedness and increased pension costs due to lower expected asset returns and a higher discount rate. While our pension expense has increased year-over-year, we continue to expect the required contributions for 2024 to be immaterial.
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