Cigna Group

For the period ended Mar 31, 2026. Filed Apr 30, 2026.

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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.

Mar 31, 2026 · Filed Apr 30, 2026

CI$295.60+0.7%Stored close · as of Nov 9, 2026

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Segment Information

Note 15 – Segment Information

See Note 1 to the Consolidated Financial Statements for a description of our segments. A description of our basis for reporting segment operating results is outlined below. Intersegment revenues primarily reflect pharmacy and care services transactions between the Evernorth Health Services and Cigna Healthcare segments. The Chair and Chief Executive Officer is the chief operating decision maker ("CODM") responsible for making decisions about resources to be allocated to each segment and assessing its performance.

The Company uses "pre-tax adjusted income (loss) from operations" and "adjusted revenues" as its principal financial measures of segment operating performance because management, including the CODM, believes these metrics reflect the underlying results of business operations and facilitate analysis of trends in underlying revenue, expenses and profitability to enable resource allocation decisions. We define pre-tax adjusted income (loss) from operations as income (loss) before income taxes excluding pre-tax income (loss) attributable to noncontrolling interests, net investment gains/losses, amortization of acquired intangible assets and special items. The Cigna Group's share of certain investment results of its joint ventures reported in the Cigna Healthcare segment using the equity method of accounting are also excluded. Special items are matters that management, including the CODM, believes are not representative of the underlying results of normal, recurring operations due to their nature or size. Adjusted income (loss) from operations is measured on an after-tax basis for consolidated results and on a pre-tax basis for segment results.

The Company defines adjusted revenues as total revenues excluding the following adjustments: special items and The Cigna Group's share of certain investment results of its joint ventures reported in the Cigna Healthcare segment using the equity method of accounting. Special items are matters that management, including the CODM, believes are not representative of the underlying results of normal, recurring operations due to their nature or size. We exclude these items from this measure because management, including the CODM, believes they are not indicative of past or future underlying performance of the business.

The Company does not report total assets by segment because this is not a metric used by the CODM to allocate resources or evaluate segment performance.

The following table presents the special items charges (benefits) recorded by the Company, as well as the respective financial statement line items impacted:

	Three Months Ended March 31,
	2026		2025
(In millions)	Pre-tax	After-tax	Pre-tax	After-tax
Strategic optimization program (primarily Selling, general and administrative expenses)	$380	$290	$215	$163
Integration and transaction-related costs (Selling, general and administrative expenses)	35	27	216	164
Deferred tax expenses, net (Income taxes, less amount attributable to noncontrolling interests)	—	16	—	17
(Gain) on sale of businesses	—	(3)	(41)	(115)
(Benefits) associated with litigation matters (Selling, general and administrative expenses)	(11)	(8)	—	—
Total impact from special items	$404	$322	$390	$229

Integration and Transaction-Related Costs. For the three months ended March 31, 2026 and March 31, 2025 the Company incurred transaction-related costs, as shown in the table above, associated with the HCSC transaction. These costs incurred consisted primarily of post-closing technology activities to separate the divested systems; fees for legal, advisory and other professional services; and certain employment-related costs.

Summarized segment financial information was as follows:

(In millions)	Evernorth Health Services	Cigna Healthcare	Other Operations	Corporate and Eliminations	Total
Three months ended March 31, 2026
Revenues from external customers	$58,206	$10,039	$47	$—	$68,292
Intersegment revenues	211	1,312	3	(1,526)
Net investment income	25	103	70	4	202
Total revenues	58,442	11,454	120	(1,522)	68,494
Net investment results from certain equity method investments	—	23	—	—	23
Adjusted revenues	$58,442	$11,477	$120	$(1,522)	$68,517
Pharmacy and other service costs	55,700	—
Medical costs	—	7,664
Selling, general and administrative expenses	1,049	2,301
Other segment items (1)
Interest (expense) and other	(1)	2
Less: Income attributable to noncontrolling interests	226	—
Pre-tax adjusted income (loss) from operations	1,466	1,514	27	(404)	2,603
Income (loss) before income taxes	$1,561	$1,481	$24	$(796)	$2,270
Pre-tax adjustments to reconcile to adjusted income from operations
(Income) attributable to noncontrolling interests	(226)	—	—	—	(226)
Net investment (gains) losses (2)	(261)	29	—	(3)	(235)
Amortization of acquired intangible assets	388	2	—	—	390
Special items
Strategic optimization program	4	13	3	360	380
Integration and transaction-related costs	—	—	—	35	35
(Benefits) associated with litigation matters	—	(11)	—	—	(11)
Pre-tax adjusted income (loss) from operations	$1,466	$1,514	$27	$(404)	$2,603
Other segment information
Depreciation and amortization	$560	$83	$2	$5	$650

(1)Other segment items represent the difference between segment adjusted revenues less significant segment expenses and pre-tax adjusted income (loss) from operations, and they do not represent significant segment items relative to the CODM's review and oversight.

(2)Includes Net investment gains/losses as presented in our Consolidated Statements of Income, as well as the Company's share of certain investment results of its joint ventures reported in the Cigna Healthcare segment using the equity method of accounting, which are presented within Fees and other revenues in our Consolidated Statements of Income.

(In millions)	Evernorth Health Services	Cigna Healthcare	Other Operations	Corporate and Eliminations	Total
Three months ended March 31, 2025
Revenues from external customers	$52,002	$13,168	$94	$—	$65,264
Intersegment revenues	1,648	1,231	12	(2,891)
Net investment income	31	133	69	5	238
Total revenues	53,681	14,532	175	(2,886)	65,502
Net investment results from certain equity method investments	—	(50)	—	—	(50)
Adjusted revenues	$53,681	$14,482	$175	$(2,886)	$65,452
Pharmacy and other service costs	51,121	—
Medical costs	—	10,385
Selling, general and administrative expenses	1,024	2,812
Other segment items (1)
Interest (expense) and other	—	2
Less: Income attributable to noncontrolling interests	102	—
Pre-tax adjusted income (loss) from operations	1,434	1,287	—	(411)	2,310
Income (loss) before income taxes	$1,108	$1,364	$(20)	$(804)	$1,648
Pre-tax adjustments to reconcile to adjusted income from operations
(Income) attributable to noncontrolling interests	(102)	—	—	—	(102)
Net investment (gains) losses (2)	(4)	(47)	3	—	(48)
Amortization of acquired intangible assets	415	7	—	—	422
Special items
Integration and transaction-related costs	—	—	—	216	216
Strategic optimization program	21	—	17	177	215
(Gain) on sale of businesses	(4)	(37)	—	—	(41)
Pre-tax adjusted income (loss) from operations	$1,434	$1,287	$—	$(411)	$2,310
Other segment information
Depreciation and amortization	$584	$83	$2	$5	$674

Revenue from external customers includes Pharmacy revenues, Premiums, and Fees and other revenues. The following table presents these revenues by product, premium and service type:

	Three Months Ended March 31,
(In millions)	2026	2025
Products (Pharmacy revenues) (ASC 606)
Network revenues	$31,080	$28,212
Home delivery and specialty revenues	19,788	18,937
Other revenues	3,426	3,077
Total Evernorth Health Services	54,294	50,226
Other Operations	—	13
Corporate and eliminations	(257)	(1,606)
Total Pharmacy revenues	54,037	48,633
Insurance premiums (ASC 944)
Cigna Healthcare
U.S. Healthcare
Employer insured	4,996	4,688
Medicare Advantage	—	2,363
Stop loss	2,116	1,868
Individual and Family Plans	873	859
Other	507	1,872
U.S. Healthcare	8,492	11,650
International Health	1,113	978
Total Cigna Healthcare	9,605	12,628
Other Operations	53	81
Corporate and eliminations	154	27
Total Premiums	9,812	12,736
Services (Fees) (ASC 606) and other revenues (1)
Evernorth Health Services	4,123	3,424
Cigna Healthcare	1,746	1,771
Other Operations	(3)	12
Corporate and eliminations	(1,423)	(1,312)
Total Fees and other revenues (1)	4,443	3,895
Total revenues from external customers	$68,292	$65,264

(1)Other revenues for the three months ended March 31, 2026 and 2025 were $159 million and $162 million, respectively.

Financial and performance guarantees. Evernorth Health Services may also provide certain financial and performance guarantees, including a minimum level of discounts a client may receive, generic utilization rates and various service levels. Clients may be entitled to receive compensation if we fail to meet the guarantees. Actual performance is compared to the contractual guarantee for each measure throughout the period, and the Company defers revenue for any estimated payouts within Accrued expenses and other liabilities (current). These estimates are adjusted and paid following the end of the annual guarantee period. Historically, adjustments to original estimates have not been material. This guarantee liability was $2.0 billion as of March 31, 2026 and $1.8 billion as of December 31, 2025.

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