Cigna Group
For the period ended Sep 30, 2024. Filed Oct 31, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Oct 31, 2024
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Earnings Per Share
Note 6 – Earnings Per Share
Basic and diluted earnings per share were computed as follows:
| Three Months Ended | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| September 30, 2024 · September 30, 2023 | |||||||||||
| (Shares in thousands, dollars in millions, except per share amounts) · Basic · Effect ofDilution · Diluted · Basic · Effect ofDilution · Diluted | |||||||||||
| Shareholders' net income | $739 | $739 | $1,408 | $1,408 | |||||||
| Shares: | |||||||||||
| Weighted average | 278,457 | 278,457 | 294,058 | 294,058 | |||||||
| Common stock equivalents | 2,939 | 2,939 | 3,073 | 3,073 | |||||||
| Total shares | 278,457 | 2,939 | 281,396 | 294,058 | 3,073 | 297,131 | |||||
| Earnings per share | $2.65 | $(0.02) | $2.63 | $4.79 | $(0.05) | $4.74 | |||||
| Nine Months Ended | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| September 30, 2024 · September 30, 2023 | |||||||||||
| (Shares in thousands, dollars in millions, except per share amounts) · Basic · Effect ofDilution · Diluted · Basic · Effect ofDilution · Diluted | |||||||||||
| Shareholders' net income | $2,010 | $2,010 | $4,135 | $4,135 | |||||||
| Shares: | |||||||||||
| Weighted average | 282,005 | 282,005 | 294,752 | 294,752 | |||||||
| Common stock equivalents | 3,037 | 3,037 | 2,911 | 2,911 | |||||||
| Total shares | 282,005 | 3,037 | 285,042 | 294,752 | 2,911 | 297,663 | |||||
| Earnings per share | $7.13 | $(0.08) | $7.05 | $14.03 | $(0.14) | $13.89 | |||||
The following outstanding employee stock options were not included in the computation of diluted earnings per share because their effect was anti-dilutive:
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| (In millions) | 2024 | 2023 | 2024 | 2023 |
| Anti-dilutive options | 0.8 | 0.9 | 1.0 | 0.9 |
The Company held approximately 122.5 million shares of common stock in treasury at September 30, 2024,107.4 million shares as of December 31, 2023 and 105.7 million shares as of September 30, 2023.
The increase in Treasury stock as of September 30, 2024 and the reduction in weighted average shares outstanding for the three and nine months ended September 30, 2024 was driven in part by 9.3 million shares of our common stock repurchased under the accelerated share repurchase agreements (the "ASR agreements"). See Note 8 for additional information.
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