Cigna Group
For the period ended Dec 31, 2023. Filed Feb 29, 2024.
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FY2023 · Filed Feb 29, 2024
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Earnings Per Share
Note 7 – Earnings Per Share
Accounting policy. The Company computes basic earnings per share using the weighted-average number of unrestricted common and deferred shares outstanding. Diluted earnings per share also includes the dilutive effect of outstanding employee stock options and restricted stock using the treasury stock method and the effect of strategic performance shares.
Basic and diluted earnings per share were computed as follows:
| For the Years Ended December 31, | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2023 · 2022 · 2021 | |||||||||||||||
| (Shares in thousands, dollars in millions, except per share amounts) · Basic · Effect ofDilution · Diluted · Basic · Effect ofDilution · Diluted · Basic · Effect ofDilution · Diluted | |||||||||||||||
| Shareholders' net income | $5,164 | $5,164 | $6,704 | $6,704 | $5,370 | $5,370 | |||||||||
| Shares: | |||||||||||||||
| Weighted average | 293,892 | 293,892 | 309,546 | 309,546 | 337,962 | 337,962 | |||||||||
| Common stock equivalents | 2,990 | 2,990 | 3,519 | 3,519 | 3,004 | 3,004 | |||||||||
| Total shares | 293,892 | 2,990 | 296,882 | 309,546 | 3,519 | 313,065 | 337,962 | 3,004 | 340,966 | ||||||
| Earnings per share | $17.57 | $(0.18) | $17.39 | $21.66 | $(0.25) | $21.41 | $15.89 | $(0.14) | $15.75 | ||||||
Amounts reflected above for the years ended December 31, 2022 and 2021 have been restated to reflect the impact of adopting amended accounting guidance for long-duration insurance contracts (discussed in Note 2 to the Consolidated Financial Statements).
The following outstanding employee stock options were not included in the computation of diluted earnings per share because their effect was anti-dilutive:
| For the Years Ended December 31, | |||
|---|---|---|---|
| (In millions) | 2023 | 2022 | 2021 |
| Anti-dilutive options | 0.9 | 1.0 | 1.5 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.